Coffee could be the key…

As the recession strengthens its grip on the economy, more and more people are asking where the real money is.  If Costa’s success is anything to go by then coffee is the way forward – Costa is set to double its stores over the coming five years despite the economic worries that the rest of us are fretting over.

So what do you need to know to turn those coffee beans into a business?  As with all businesses you need to have a good business plan.  The business plan should show your exact plans for the business including how you plan to finance the coffee shop and how you expect it to earn money.

Go online, pop down to the library or go to the bank to ask for help with your plan – you will need to make a formal business plan as with any start-up business and you’ll need to get it spot on.

Things you need to consider when writing up your business plan are;

•    Location
•    City regulations
•    Start-up costs
•    Advertising plan
•    Overheads
•    Highest possible income

So you have your business plan, now what?  Coffee shops can need a little more love than other businesses and need you to get deep.  To bring success to your new coffee shop you need to find out everything you can about coffee to start with!

Without getting as involved as possible with your product you can’t fully connect with your paying customers – know your product and get the best possible quality product you can.

You must also put yourself in a position where you understand your customers as well as their needs so that you can truly know what they want from your coffee shop.  To do this you should get involved in your community and support your local sports teams, whatever it takes to get a rapport going with the community.

But what do people look for in a coffee shop?  There would seem to be a method to the madness that is the coffee shop – there are things that customers look for when they pick their coffee shops;

•    The friendly, small town service that you can’t find in Starbucks or Costa is gold dust and if you get it right you’re onto a winner.
•    Location is important – customers like easy to find locations in the centre of town.
•    Customers like a bit of funk and fun with their daily cup of coffee.
•    Free wi-fi is a customer magnet – as soon as people find out they can get their work done in your coffee shop at the same time that they can get a nice latte then they’ll come in everyday.
•    Background music can so easily be overlooking but a good mix of relaxing background music can be a great way of attracting coffee drinkers.

What about you?

What do you look for in a coffee shop?  Are you planning on going down the coffee laden business road?  Leave us a comment and let us know what you think…

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