April 20, 2015
Steps In Setting Up A Coffee Shop Business
One can say that running a coffee shop can be fun and fulfilling, but running a coffee shop as a business is another story. With today’s competitive market place, it’s essential to understand all risks for an entrepreneur in order to reap maximum rewards. It takes a lot of knowledge to get through such business to keep it running for a long time. Below are just some pointers to take note of when you are starting up a coffee shop business.
• LOCATION – This is the first thing to do. Carefully do thorough research before buying or renting it. Also target areas that has high traffic or a lot people passing by and a place where people aren’t overwhelmed yet with coffee houses.
• BUSINESS PLAN – This will be your blueprint of success. The parts to consider in setting this up will include an analysis of your competitors, marketing strategies, a concise overall summary, budget and expenses, a breakdown of your business model and others.
• A WORKING CAPITAL – Starting a new business takes time to start generating positive cash flow, so therefore you need to find and ensure a working capital for you to make it through the first or two tough years. Find good loan options.
• SET UP ACCOUNTS – If your business will be accepting debit or credit cards, then you will need a merchant account for this. Carefully choose the best provider for your business and to do that, you can compare them.
• GET GOOD COFFEE – Do not focus on offering too many coffees but instead focus on giving good quality coffee. Also find an alternative source for your supply of coffee in case the main source runs out or becomes unavailable due to some reasons.
• SET UP A GOOD AMBIENCE – Make your coffee shop warm and comfortable as possible. Ask from friends or relatives for some advice or hire a decorator. Choose pleasant and soothing music. You can also offer free Wi-Fi service as well.
• FOCUS ON GOOD CUSTOMER SERVICE – As a coffee shop, it is only normal to offer good customer service. Hire people that has pleasing personality and train them well.
• LONGER OPENING HOURS – You might want to consider this one because there are people who comes in at later hours. You can also give specials and promos for later crowd customers.
You can also take a look at the video below for more advice on running a coffee shop