If you’re like most people, you like to start your day with a cup of coffee. No matter if it’s home-brewed or bought from your favorite coffee shop down the street, there is something in that rich aroma that instantly makes your day better.
Coffee is considered one of the most widely consumed beverages in the world. Over two billion cups of coffee are consumed in the world daily. If we take that into consideration, having your very own coffee shop makes a lucrative business idea that can bring you great income. Read on to learn a few things you will need if you’re thinking about starting a coffee shop business.
It All Starts With a Business Plan
Your business plan will outline every detail of your upcoming business, from the name, mission, and vision, down to the last dollar you’ll earn or spend. It is a great way to track the progress of your business over time. However, the main reason why you must come up with a solid business plan is that it’ll help you attract potential investors in the beginning and help you grow your business.
Creating a business plan is not a simple task, but you can find an online coffee shop business plan template that’ll help you write one with ease. If you’re concerned about making some mistakes when it comes to numbers, you can always consult or hire a professional who will do the job flawlessly.
Create Your Business or Buy an Existing One?
When opening your coffee shop, you need to consider a few options. You can create your small business from scratch by renting a space, investing in the interior and machines, promoting it, and running it successfully. Over time, you can expand and start a whole franchise, such as other popular coffee shops, with your own line of coffee and flavors that people adore.
Another option is to buy an existing coffee shop for a good price. This has several benefits, including cutting down the cost of renovation if the shop is in good condition. Also, you won’t have to pay rent and you’ll have customers the moment you open your coffee shop.
Location Is Key
The location of your coffee shop can be a deal breaker whether the business will be successful or not. Here are the top four factors you need to consider when choosing the right location.
- Size. Make sure that all of your customers can fit inside the coffee shop comfortably. People visit those types of places in order to relax and unwind, not to feel cramped up.
- Accessibility. Choose a location that people can easily reach and enter.
- Parking. A parking lot and a bike rack near your shop can be a great addition to attracting customers.
- Rent. If you want to open up a coffee shop in the heart of town, expect to spend a lot on rent. To avoid these big expenses, either opt for buying your own coffee shop or choosing a different location.
Get All Licenses and Permits
Finding a location and designing the interior of your coffee shop might have to wait, as you first need to get through the legal paperwork, in order to be on the right side of the law. Some licenses and permits may vary depending on your location, but in general, you’ll need two very important ones.
The first is a business license, which you can get from your local city or county business office. You’ll also need to get a permit to sell food and drinks, which you can apply for from your state’s health department.
It’s Okay to Have High Standards
Your customers are looking for the experience that will make them head straight to your coffee shop, ignoring the ones surrounding you. That includes great coffee and ingredients, and great customer service as well. Often, clients tend to turn around and leave if they meet with a grumpy employee.
That’s why you need to be picky when hiring someone. Look for people who share the same idea and vision as you do, and make sure they work great in a team, are enthusiastic, and always have a smile on their faces.
If you’re passionate about coffee and have the drive to start your own business, then a coffee shop may be the perfect opportunity for you. Remember to do your research, plan everything out carefully, and don’t be afraid to ask for help along the way. With a little hard work and determination, you can make your dream of owning a coffee shop a reality.