Mon, 02 Jan 2006
Losing Money Vicariously Through Slate
I have the fantasy of opening up a little cafe, apparently like many other
people. Michael Idov has already done it and documented the money-losing venture
at Slate.
His cafe, which he opened in Manhattan, was right out of my fantasy, "where coffee was served on silver trays with a glass of water and a little chocolate cookie" — it's actually a little chocolate square in my imagination.
He goes on to describe how he lost money on every croissant sold, and how he and his wife end up working "$8-per-hour jobs slinging coffee" before going bankrupt.
The European cafes that Michael tried to emulate probably don't $4,500/month rents to pay, because I don't think they get the to-go business that makes Starbucks so profitable.
