A very ordinary but indispensable part of any city, the lively and inviting atmosphere of coffee shops can bring a smile on any face. From reunions to romantic dates and casual hangouts, coffee shops are ideal for almost every occasion. Stats prove the same, according to a survey, almost 85% of the population visits coffee shops at least once a week!
With such high demand, coffee shop is a pretty lucrative start-up idea. And it doesn’t really require much capital investment; customers prefer small cosy and peaceful cafeterias to huge luxurious ones. A study by the London Coffee Festival proves the same – for every two independently owned coffee shops there’s only one branded shop.
Therefore it is safe to conclude that starting your own coffee shop is actually a pretty good idea! Read on to know how to go about it:
Highlight your strengths
Don’t try to focus on too many things at once; it will only muddle up matters for you. Instead, analyse your strengths and work on highlighting them. Find your niche and concentrate all your resources into refining and bettering it. Also don’t aim for offering a large variety of flavours; target those that you can deliver like a boss, every time. For instance, Fernandez and Wells is one coffee shop that doesn’t really offers a wide range but focuses on delivering top quality across its limited product range.
Starting and maintaining a coffee shop is no easy feat, it involves passion, dedication and a lot of hard work. Your work doesn’t end with the “closed sign” board at the end of the day, this business involves a round the clock involvement.
You’ll have to compromise, adjusting your personal responsibilities according to the demands of the business. It requires a practical and realistic approach and not just lofty ideas.
Steps to start:
Read through some of the tips by John Richardson aka one of the Coffee Boys on how to start and develop a coffee shop start-up
- Plan your budget and try sticking to it. Limit the expenditure, be ruthlessly practical about the money spent.
- Build contacts- you need to be in touch with the best coffee and other suppliers to ensure top quality food and beverages served. Pay close attention to the sourcing and supply of raw materials.
- Don’t ignore the legal aspects of the business, i.e. pay your taxes on time. Also keep an eye on the interest rates, insurance and market conditions.
- Invest in a good coffee maker. We recommend reading Top recommendations by Freshpresso as a good starting point.
- Keep your account books updated. Always.
- Maintain a proper record for all the repairing and fixing done to ensure a smooth and effective running of the coffee shop.