I found some of the properties I was interested in leasing; the prices are far greater than I imagined. The one above is around 4200sq feet and rents for 50 dollars /sq feet annually; that’s around 20k a month IF you pay by a yearly rate. Get this, the lease doesn’t include maintenance, tax, or insurance; were talking about another 3k a month -at least- for those fees. But the great thing about this location is that thousands of people pass by daily: There are around 25,000+ people that live within an one mile radius. So if you can’t sell here, most likely you won’t sell anywhere.

I’m most likely not going to do start this business this year: I probably won’t get enough loans approved to pay for everything. My initial budget was around 400k, but with this change I’m budgeting closer to 700k. Another setback is that I’m not 21 years old, which means I can’t get a liquor permit. That’s very detrimental to my plan, because drinks bring in a lot of revenue; that’s why some clubs have no cover, they make their money off 4 dollar drinks–that they purchase for far less.
Oh well, I’m still going…

A few weeks ago, I went karaoking for the first time and I absolutely loved it. I’m the type of person that likes to sing songs everywhere, so it wasn’t much change when I got a mic.  From what I’ve heard, karaoking is an Asian thing. Well, I want to tear down that stereotype and get everybody involved. Karaoking really builds confidence: What better way to break the ice, than singing in front of a crowd? Also, it’s an activity that people of all ages can be involved with. If you haven’t tried karaoking yet, I really encourage you to bring some friends to experience it; time will fly by, because ya’ll will be having a ball.

Karaoke was so fun, that I decided I want to start a karaoke bar. I definitely have to plan everything out before I know for sure. But right now I’m pretty excited thinking about the potential. The location will be on the street closest to my school; that’s my major selling point, convenience for the everyday student to karaoke! I know the rent will be insanely high, but I think I still can make a profit or break even…