> Plough savings into new business or keep in bank?

Plough savings into new business or keep in bank?

Posted at: 2014-12-08 
Are you in a good area, who will be your customers, anybody else doing this in a 10 mile radius. You have to do research, somewhere like Alderley Edge in Cheshire or any of the other 'Posh areas' would welcome it, but your normal British high street could be a problem.

The rental is high, on top of that there are business rates, electricity, phone, water, Insurance and so on.

You need to add these up per month, after that you would be in profit. Would it be enough to live on?

Rtd Catering Business Owner UK

Dimno

Hi,

I am 32 with no mortgage to pay. I work in a job I have no passion for with no prospects (although money is ok). I have £25k in savings that's doing next to nothing in the bank. I have a dream of owning an independant wine retail shop that, in addition to wines, serves coffee and delicacies such as quality French/Spanish charcuterie and cheeses.

I have seen a commercial property in town for £9000 P/A rent (£750 p/m). I need some advice here as to whether I'm living in cuckoo land or or this is viable?