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Do what you love – doing something that you love brings you happiness. If you love coffee or like the coffee business, then you can think of starting a coffee shop! Here are some important tips to consider when you plan to start your own dream coffee shop. ~ Ed.
Have you always dreamed of owning a coffee shop? Does the thought of brewing coffee for a living excite you?
If so, then you have come to the right place! Today, we are going to learn some tips that will help you get started in the coffee industry.
Please pay close attention to the tips below so that you can realize your dream. Let’s get started learning more!
10 Tips to Start Your Own Coffee Shop
Starting a business may not be that difficult but to make it a successful one you need to need to take carefully planned steps.
Here’s all laid out for you right from the business plan to the marketing plan.
Build a Solid Business Plan
This is the first step in owning your own coffee shop. Having a solid business plan is the key to success.
A business plan will be the foundation of your company. So make sure to plan it wisely. A good plan will include your short term and long term goals. It should also include a mission statement.
So before you even start looking for a place to set up a shop, make sure you have a business plan in place.
Save For a Down Payment
While you may have a dream of opening your own coffee shop, you can’t do it on a dream alone. You will need a handsome down payment for your building and equipment.
Depending on the size and location of your new building, you will need to have several thousand dollars put away. This may seem like a lot of money to put upfront but it is necessary for the success of your coffee business.
If you don’t have a lot of money saved in the bank, you may want to start with a smaller sized coffee shop and expand when you have more capital to work with. Starting small will also let you get your feet wet without risking a ton of money.
Hire an Accountant
You can’t run a small business on your own without a little help. One person that you should always have in your corner is an accountant. These men and women really know their stuff and they can help you with things like budgeting, planning, and taxes.
While it might be tempting to try to handle all these things on your own, having an accountant will take a ton of weight off your shoulders. It will also help keep you out of trouble with the IRS.
Come Up with Working Capital
Not only will you need to have the money to place a down payment on your building and equipment, but you will also need to have some working capital. Working capital is the money you are going to use to run your business. It will be used to pay your workers and buy supplies like cups, coffee, creamer, and more.
So before you open your doors to your new coffee shop make sure you have enough working capital to cover your everyday expenses.
Buy the Right Equipment
You can’t serve the best coffee without using great equipment. We all know that buying the right equipment for your coffee shop isn’t as easy as it sounds. You need to do your research on the commercial coffee equipment that you’re going to use in your business.
Some of the essential equipment you will need for your shop are a coffee grinder, espresso machine, drip brewer and refrigerators.
Sell Customized Items
Your coffee shop should sell its own personalized items. These items can either have your coffee company logo on them or the name of the customer. This merchandise is a great way to get your company name out there while allowing your customers to take home something personal.
Some examples of personalized merchandise are t-shirts, customized mugs, hats, and more. Plus, these items will help you add to your profit margin which is always nice!
Find the Right Location
Now that you have your finances in order, it is time to look for the right location for your new coffee shop. Start by looking for a building that is in a good neighborhood.
Being located in a safe neighborhood will better your chances of success. Also, find a location that has a lot of traffic. The more people in the area the better.
Pick the Best Beans
A coffee shop is nothing without great coffee beans. Before you open up your doors, go on a hunt for the best coffee. This may take you to several cities in the country or even around the world. Finding the best beans to work with is the best way to stand out from the rest of the crowd.
Not all coffee beans have the same quality so finding the best beans is highly important. When searching for beans, dig deep and look at all of your options. Once you have found the right bean, make sure that you build a good relationship with the supplier so that you will always have plenty of inventory.
Come Up With a Marketing Plan
Now that you have your coffee shop up and running, you will need to bring in customers. Even before you open, you can start building your marketing plan.
A good marketing plan will target people who love coffee. Depending on your location, that target market may be college students, busy working moms, or people who work in the corporate world.
There are many ways that you can market to potential customers. Word of mouth is a great way to market and it is totally free. So make sure you tell friends and family members about your new shop and ask them to spread the word.
Also, you may want to target the area you are operating in with fliers and signs advertising your shop. Social media is also a powerful marketing tool that you can utilize.
When your shop first opens, you will probably not need may employees. Start out with just one person to help you run the register. This will allow you to focus on making great coffee and attending to your customers’ needs.
When your business grows, you may want to hire additional workers to keep up with demand. Expanding slowly will allow you to hire the right amount of people when you need them. You don’t want to have a shop full of staff and only a few customers.
Wrapping It Up
Now that you know what you need to open your dream coffee shop, why not start working on it today?
The quicker you start working towards your goals, the faster your dreams can be realized.
Just remember, while opening a coffee shop can be a lot of work, you will soon see the fruits of your labor!
Over to you
Do you already have a coffee shop? Share our thoughts and experiences of starting your own coffee shop in the comments.
Thanks for this article am hoping to start my coffee shop this year using this guide.
I love drinking coffee, but never thought of opening a coffee shop. Nice sharing.