It’s estimated people drink close to 2.4 billion cups of coffee within a single day. Forecasts show that sales in the ready-to-drink market, which includes coffee shops, will double in the coming years due to the resilience of this industry in volatile markets, which helps eliminate uncertainties associated with small business ownership. If you desperately need to change your career or venture into a new business, opening a coffee shop can be a fulfilling and profitable undertaking. Here is a step-by-step guide on how to get started.
Research is Paramount
If intending to open a café, it’s important to note that it requires a significant investment of money and time. It’s advised that before deciding on whether to start the business, reach out and learn from other business owners who have already established their cafés within your locality. To make it interesting, visit lots of cafés to get an insight into what works and what doesn’t. Consider what would make your business different from other cafés to attract customers. Know the needs of your customers, who you intend to visit your café, and their working hours. Knowing your customers will help you when it comes to creating a menu, pricing, and planning.
Outline the Vision
It’s now apparent that you have a plan, ready to roll up your sleeves, and already have a mental picture of your café that is up and running. The next step is to write down the kind of atmosphere you want to create and the main goals/what you want to achieve in the long run. It’s important to start collecting menus, design ideas, and photos to inspire what food will be served, how customers will feel when they visit the premises and the kind of food to be served. Remember, it’s not possible to satisfy everyone. The secret is to understand the kind of clientele you are designing your café for.
Come Up with a Business Plan
A business plan is commonly overlooked by people who want to start small businesses since most wonder who will read the document. However, coming up with a business plan helps one understand the local market and the daily customer orders you need to make the business profitable. A business plan should include a summary of the business model, market analysis, the team, marketing plan, financial projections, and location/lease strategy.
Identify a Location
Before deciding on where to locate your café, spend time in the area you have identified and pay close attention to the availability of parking space and the number of people moving on foot. This will significantly affect the number of customers who will frequent your café. Also, check if there are other cafés in the neighbourhood, the kind of food they serve, and their customer base.