If you think your morning isn’t complete without sipping on your favorite coffee drink at your local bar, then you’re among the millions of people around the world who crave for caffeine every day to start the day right.
Now, if you’ve been thinking about getting into the food and beverage business, starting a small coffee shop is one of the best options you have, especially if you’re a coffee lover yourself. According to statistics, coffee shops are among the fastest growing business ventures in the industry with its 7 percent annual growth as of 2011.
However, like with any other type of business opportunities, starting a successful one takes more than just having a solid concept in mind. There are a number of steps you should take before you can even welcome your very first customer. There’s a lot of planning, development, and strategy-making involved, each with specific startup costs that might overwhelm you if you don’t do it the right way.
If you’ve really made up your mind, here’s a simple step-by-step guide on how to finally achieve your dreams of becoming a coffee shop owner:
Specify your target market
It’s easy to get discouraged when you think about competing with all the larger cafes in the business. But keep this in mind: You’re not here to compete with them; you’re here to address a need. Many independent coffee shops have succeeded in the business once they’ve found their niche. The coffee market is crowded indeed, but there can never be too many players in this game.
Choose a great location
As with any other business, location is crucial. You have to consider the foot traffic, all the other possible competition, as well as the other businesses in the area that may actually be your potential customers. Find a place with a great amount of passing traffic. In addition, think about your budget and business rate.
Find the right suppliers
To survive in this business, you need to rely heavily on high-quality produce. Think about what exactly you want to offer your guests in Melbourne or other locations. Would you like to have croissants, hot bagels, or doughnuts on your menu? How about some sandwiches? Prioritize creating a solid supply chain.
Build the right team
Although not impossible, it’s going to be very difficult to run a coffee shop on your own. You’ll need specialist baristas (who should also be charming, of course) and even front staff. When you think about the location of your business, you also need to consider if you’ll be able to secure the right staff within the neighborhood. It’s also important to be fully knowledgeable about how to stay on the right side of the law.
Secure all the necessary permits
Get all the paperwork done and the legal side of business properly sorted. If you fail to do so, you might be in for a huge shock.
Finally, create a solid marketing plan. Even if you have the best coffee offerings in town, it’s all useless unless people know about them. So, be sure to maximize all the available marketing options, whether online or offline.