Are you a coffeholic dreaming about starting your own coffee shop?
With 2 billion cups of coffee being sold daily in UK alone and around 65 % of working professionals drinking 3 cups on an average, café culture has taken over the market by storm. Want to be nation’s best coffee connoisseurs, join the coffee bandwagon by opening your own coffee shop.
“There are various ways in which you can storm into coffee bastion. Depending on your budget, your possible return on investment and available business a SWOT analysis can be done to identify the most feasible plan.”
Starting a brand new Start up Café
It’s a great opportunity to start a unique creative venture with your own branding and marketing. There is more freedom to explore the market and since “new is always in”; opportunities for you to create new connections, contacts and a perfect coffee space is high. However the set up cost including infrastructural and institutional costs for starting your own brand new coffee shop is high. Paperwork, permits, lease negotiations etc. can be extremely time consuming. Since you will be amateur in coffee shop business there can be glitches like underestimation of location potentiality, ergonomic glitches, poor staffing, impractical pricing and market strategy.
- Buying an existing coffee shop
It is the easiest and the quickest way to fill your pockets. Because of brand name there will be a huge and a loyal customer base. You don’t have to burn a hole in your pocket as much of infrastructural requirements like retrofitting; constructions and brewing equipment are already there. Bureaucratic hindrances or delays due to lease or permit problems will be negligible as business has been on the run for quite some time. However some research and changed market strategies will have to be adopted to give your coffee shop a makeover in case of an earlier unfavorable business.
- Buying a coffee shop Franchise
You can have the reputation and sales due to existing Brand Image. Franchising can help you get a third party financing thereby helping you run business without burning your pockets. Support networks, proprietary distribution and operations will be time tested. However limitations will come in the form of Franchise agreements. It will be difficult to add a unique personal touch to the gourmet coffee or add a tinge of antiqueness to the ambience as your working style should be in consensus with franchise.
Proper market research should be undertaken and pros and cons should weighed for each options to check your feasibility
After finding out the feasibility other major areas to be focused on starting a coffee shop are
- Having clarity on concept and type of business.
- Location-With great location comes great sales.
- Ambience –This includes both premise outlook and employees. An inviting comfortable environment works like charm
- Financial Models-Adopted model should give you maximum Return on Investment and pay off your initial borrowings. Working to your model consistently will discipline you w pricing, purchasing, portioning and staff scheduling.
As caffeine stirs 7.9 billion Pounds to the market annually starting an own coffee shop is the living dream of most coffee premiums. So jump into the bandwagon and let your town wake up to aroma of your coffee!!