Start-Up Coffee Shop Business Tips

Saturday, November 15, 2014

Starting A Coffee Shop Business: Is It Right For You?

Owning a coffee shop business is a dream for many. When you combine an entrepreneurial spirit with an addiction to coffee and the love of socializing with people, a coffee shop seems like the obvious choice.

It is, on the surface.

However, there are some serious things to consider before you jump into the idea of a coffee shop business with both feet. The number one thing you must be certain of, before anything else, is whether or not running a coffee shop is the right business for you.

While traditional coffee houses were simply a place to gather and socialize while consuming coffee and other hot beverages, today’s coffee shops are considered an office for many, aka. the internet cafe.

Living the dream of the “coffee shop lifestyle” is one thing, and there are enormous advantages and it can be quite profitable, but it’s important not to underestimate the work involved. It is essential that you start out with a plan.

Coffee Shop Business Picture

Here are a few things to consider before making a 100% commitment to start a coffee shop business.

 You will need:

Time And Energy:

Many times, a former employee of a coffee shop will turn to starting their own, and having worked in the industry, they would already have an idea of the energy requirements.

It can also be very fast paced, and if you’re busy and working behind the counter yourself when you start out, you will need the stamina for long hours on your feet in a busy atmosphere.

Oftentimes, you will spend a long day at the coffee shop serving your customers, and then come home to 1 or 2 hours of doing the books and/or other organizational tasks that are needed to keep the business running smoothly.

Many people thrive on this type of commitment, especially when it is their passion, but just be prepared for it.

Patience, Confidence, and Decision Making:

Statistics show that the majority of both independent and franchise coffee shop business owners are barely scraping by on a month to month basis even though they are putting in the long hours mentioned above.

It may take a while to build up a regular customer base that will frequent your coffee shop ritually, so you must have patience, but also the confidence in your actions and ability.

You also will need to sharpen your decision-making skills as indecisiveness is the enemy of any business owner. It can be very costly to switch back and forth on important decisions, product choices, etc.
The ability to think big, but the smarts to start within your means

One of the biggest mistakes that a new coffee shop business owner makes is that they have too big of a plan without first establishing a foundation for their business.

You must stay focused on the things that will directly contribute to your profits. For this, you will need a budget and one that you absolutely stick to. This is crucial and must not be overlooked. Many new coffee shop owners drastically underestimate the start up cost of a coffee shop business and fail before they even are able to properly get started.

This is where a well-thought out and well-written coffee shop business plan will be mandatory. If you have everything in writing it will make your plan much easier to follow and you can easily “course correct” if you fall off your path.

If you have a passion for living the coffee shop lifestyle and are prepared for what has been outlined above, then you are already way ahead of the game. 

Candy Smikerson


{ Chris Morris } at: October 2, 2015 at 3:14 AM said...

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