Entrepreneurship will always be a good way to help the Philippine economy since it provides people jobs and also increases business in the country. One of the many good choices for business is a coffee shop and today we are giving you helpful tips to start your coffee shop business this 2016.
1. Start with a Business Plan.
You might say that it might be too technical and you don’t really need it but if you want to really see if this business is for you then you should start with a business plan for your coffee shop. Find out if you have a market in the area and if not find an area where your business can thrive. Who is your target audience? Who are your competitors? How much can they pay for the products that you will offer? And what marketing strategy do you want to use? These questions will guide you in making your first necessary step to start your own business.
2. Location is vital.
Check out the location where it is highly ideal to open up the business. How many people pass by it? Are they only passersby or do they stay for a while and do they need your product? Are there competitors in the area? A good location should have a decent foot traffic and should not have too much competition within the area. You should also consider the rental fee since a good location might be too pricey. Talk it out with the owner and share them your goal and perhaps they would lower the rent.
3. Plan out what you want to offer your customers.
What do people in your area really love? What do you want your coffee shop to be known for? You do not really need to be fancy and copy other coffee shops to be successful, you just need to know what they need and what they like. Offer some selected flavors and start with that and expand your products as the demand arises.
4. Invest in coffee machines with high quality and durability.
Most new business owners tend to look for low cost machines for their business but as time goes by they will realize that these machines eventually experience wear and tear. It is ideal to look for coffee machines which are really dependable and tend to be cheaper in terms of durability and quality of coffee being produced..Fully automatic coffee machines as well as traditional coffee machines used by baristas will come in handy for your business and be sure to choose wisely.
5. Target “take-out” customers.
Most coffee shops experience the problem of a full coffee shop with people ordering 1 or 2 products and then staying at the shop for a number of hours. Since these customers will not really pay you rent focus on people who do take-outs. You can add some sort of discount for them. Of course having a free-wifi and in-house entertainment is good but limited free access to just an hour will also help your business maintain a good turnover of customers.
If you just wanted to start your own coffee shop business because you see someone successful in it then pause for a while and think again. We can help you understand more bout the business and even help you setup the business so that your can achieve your return on investment sooner. If you want our help just contact us.
7. Save money to pay for your expenses.
Be sure to always plan your expenses against your revenue. Giving too much freebies will hurt your business.
Think of something which is not being done before. Experiment with your coffee by talking to an experienced barista. Try to create an ambiance which is something worth experiencing. Be unique from other coffee shops so that people will have more reasons to try out your new business.
9. Put quality first.
Quality is everything in a business. If you want people to praise you and recommend you make sure that you deliver quality products and services. Do not try to save by lessening the amount of coffee or sugar served, be generous and make sure that quality does not suffer with it. A dissatisfied customer does not only mean loss of that customer but it can also affect future customers.
You are starting a business and the best way to make it work is for you to take part in it. Talk to your customers, serve them coffee, ask them if they like it, compliment them, or just be there for them. If customers see the owner as really approachable and engaging them, then for sure most of them will come back and even invite more people to your shop.
Starting a new business may not be easy but it can be easy if you follow the tips we have for you and you can even search for more tips online. Coffee is one of the most in demand drink in any neighborhood and establishing your own coffee shop business in 2016 might just work for you.
Want to know why a coffee business is one of the best business choice? Read our article, “Benefits of Starting a Coffee Business in the Philippines“
If you have any questions, you can send us a feedback or just contact us. Good luck!