Want To Open A Coffee Shop? Here Are Some Tips

Many people are addicted to coffee, and it’s a fact. Some like drinking it in the morning, while others prefer the afternoon, so there are basically no rules about when to drink it. What’s important is that there is a cosy place you can sit back, relax and sip your mug of joy.

If you have always dreamed about opening a coffee shop but were frightened about what might await you in the process, fear not!, because the answers are here. Keep reading and find out about all the information you need to have in mind if you plan to open a coffee shop.

Set a location

The first thing about opening a coffee shop is finding the right location. You are targeting at a place where there is a lot of people passing by, especially business people who do not have the time to wait for the coffee to be brewed and baked and specially delivered. Even if you find the right location and see that there is already a coffee shop opened there, do not give up because this is a good thing. Healthy competition is a normal thing, even desirable, but you just have to make sure that your products and service are better than theirs. And who knows, maybe you end up buying their coffee shop and expanding your business in a few years.

Create a business plan

Once you have found the location, the next thing is creating a solid business plan. If you do not know how to do this, here are great tips about creating business plans, with downloadable coffee shop samples, too. Basically, business plans should not make you nervous because they are basically about planning the feasibility of your idea. Sometimes, people have great ideas, but when it comes to actually turning them to reality, they tend to be, well, not that good. In your business plan you should outline your assets, the way you plan to turn them and make profit. You should also think about strategies of overcoming difficulties, if need be. Think about every detail and leave no stone unturned because you never know what will happen.

Think about the books

Every business needs an accountant, so you may have to hire one. Even though at first this might be a bit too much for your budget, you will thank God for making this decision. Just imagine yourself having to do the numbers by yourself! Experienced accountants are useful because they can warn you if something is about to go wrong, so that you can avoid the disaster before it even happens!

Buy or rent?

If you are not sure whether to buy or rent the place where you are planning to open your coffee shop, think about it this way: if you buy and your business goes down the drain, you will just get stuck in debt and make your life miserable. On the other hand, renting would be a better option for the time being. It will allow you to see what the odds of expanding the business are, and if everything is okay, you can even buy a place afterwards. It is sometimes better to plan in advance and not make rash decisions.

Find good suppliers

If you want your business to flourish, you will have to offer best quality products. Ask around and see what the costs of quality coffee are and try to make a deal with your supplier. You can even ask them to give you a discount if you make an agreement about long term cooperation. This way, you will get cheaper quality products, and they will get a permanent and loyal customer. After all, everybody wins.

Give discounts and loyalty cards

If you think that setting the prices high will make you rich, you are quite wrong. The best business strategy is giving discounts so that people think they are paying less than the actual price. Another cool thing is loyalty cards, which will make sure that people who get them come back, and you increase your profit.

Give out promotional items

You need to think about marketing. Before and during the opening week, you should make a campaign and spread the word about your coffee shop. Since people love getting free gifts, use this in your advantage and give out promotional mugs, pens or printed umbrellas with your coffee shop’s logo. This way you will get happy customers and a way to spread the word about your coffee shop opening wherever they take them.

As you can see, there are many things to think about when it comes to opening a coffee shop. If you have ideas or some tips from your experience, do not hesitate and share them with us in the comments section below. We would love to hear what you have to say!

Categorized as Business