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Reply to "Pros and cons of opening a cafe after retirement"
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[quote=Anonymous][quote=Anonymous]Yep, setting money on fire. 95% of new restaurants go under within 1-3 years. [/quote] Yep. The year after HS, some friends and I thought we'd have a cafe. Even though we all had experience in food service, we were setting money on fire, so we had a consultation with a retired business man who told us that we needed enough liquidity to float the place for at least five years, maybe ten. So we got out. It was an expensive lesson.[/quote]
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