Are you interested in starting a coffee shop business and you have the capital to rent a shop or store? Do you have a passion and skill for making quality coffee and you want to make money with such skill? Do you need a sample coffee shop business plan template or feasibility study? Then this article is for you.
Just recently, i wrote an article on how to start a mobile coffee cart business for those who have little or no capital. So in this article, i will be focusing on those who have the initial investment capital to invest and want to be the next StarBucks. You too can own and run a coffee business if only you can read and absorb the following positive information on how to start a coffee shop business.
But before i dive into the details of starting a coffee shop business, i want to assume that you already know what it takes to make coffee. If my assumption is wrong, then i advice you take a course in coffee making or better still, hire someone that has the knowledge and skill of making coffee.
Starting a Coffee Shop With No Money – Sample Business Plan Template
To start a successful coffee shop business, it is advisable that you develop a business plan that can help you run the business effectively. If you also have the intention to seek external funding or grow bigger, then you definitely need a business plan.
Include also your market strategy and key factors that you believe will make your coffee shop unique and differentiate from every other coffee shop in the area. Though it sounds easier than it is but like in any other business, if you fail to plan, you plan to fail. This is where a coffee shop marketing plan comes into play.
Many entrepreneurs overlook the issue of business location. Bear it in mind that you cannot make a bad location a good one. Carry out your location research based on many factors like demographics. A good idea would be to find out if there are other coffee shops around the area you want to site your coffee shop. Try to find out how they run their business and how their business is going.
Before you start a coffee shop business, you must have enough money to cover your coffee shop expenses for the first two to four months. Mind you that you are not starting a mobile coffee cart business but a rented space, so you must be able to pay the costs for your goods and services and also that of your employees.
As a beginner, don’t wait for your profit to produce the money to cover your expenses. Instead calculate the costs of starting the business and gather the required amount of money before opening, or better still you can raise funds for your project. Insufficient fund to cover expenses is the number one reason why most coffee shop businesses fail in the first year.
4. Be conscious of quality
The quality of the goods and services you present or serve your customers matters a lot. Do not choose a product because it is cheap because low quality will always tell bad about you. You should not start your business with cheap products otherwise people will think you got nothing new to offer. Instead you must be differentiate your business from the rest of the coffee shops in your area.
5. Be consistent
If you want your goods and services to have a great quality, you must check your staff often to ensure they know your orders and they follow them accurately. This is because if your employees carry out their tasks well, it will reflects on the entire coffee shop. You must also create a friendly relationship with your suppliers and ensure you are getting the best products.
In conclusion, you must never forget that the goal of setting up a coffee shop business is to provide exceptional service to the customers and make good money from your satisfied customers. Note the keyword “Satisfied customers.“