Are you thinking of starting a new business in the Philippines? Do you want to start a business which would give you a sense of personal and financial freedom? If your answer is a yes then perhaps you can look into the benefits of starting a coffee business this 2016.
Starting a business is never easy and in fact many successful coffee business owners feel the same way that you might be feeling. But as successful people always pointed out you will never really be successful in life if you are not willing to take the risk to reach your dreams.
Before opening up your business you should always do the necessary research so that you can avoid the usual pitfalls of business startups. This initial research includes:
- Business concept – what do you want to sell with coffee? how will the shop look like?
- Location – where do you want to set it up? It should relatively be at a place where there is good foot traffic.
- Financial needs – how much do you need to invest and where would you get it.
You can also read our article, “How to start your own coffee shop business in 2016?”
Starting your coffee shop business need not to be super big at first, start small but dream big. Why start a coffee business?
- Coffee will never go out of style. Unlike various types of businesses coffee will always be popular and in demand. When it is summer, offer cold coffee and when it’s the cold season offer hot coffee. Since long time ago, coffee is one of the beverage that has always been part of human existence.
- It has variety. Even though you might notice that there are lots of coffee businesses already, the variety of drinks you can make out of coffee is simply too many that you can even customize them. You can opt to sell the usual lattes, espressos, teas and smoothies plus be creative and come up with your own recipes.
- Coffee can be complimented. Coffee business can compliment additional businesses. You can opt to add bakery items and diversify your menu. Of if you have an existing business a coffee shop can be a welcome add-on like if you already operate an internet cafe which is very popular in the Philippines.
- Explore your creativity. Like what we have discussed before a coffee business will be more successful if you let your creative juices out. Explore and try out different coffee recipes and combination. Be creative with your marketing plan and style. Design your store and make it unique. Creativity will play a great role in the success of your business.
- Be paid to socialize. In the Philippines let us admit it that we are very sociable. People would talk for hours and enjoy the company of one another. In a successful coffee shop business socialization is a must but this time when you socialize with your clients you do not only enjoy their company but most importantly you get paid. The more people like you and go to your shop, the greater profit you will generate. Of course be always mindful that they should be purchasing something from your business and not just sitting there all day socializing (if you know what we mean).
- Start a lasting business. Since coffee does not go out of style you need not worry that your business will go out of passion. Clothing, books and other things go out of style but coffee – never. If you do it right and created a welcoming business and a worthy brand your flock will increase.
- Contribute to your country. The Philippines is once a top producer of coffee, by opening up a coffee business, ensuring that you also use fair trade coffee, and if possible use local coffee beans then you not only earn but also help our local coffee farmers. Besides that, you also contribute to the country’s economy and to job generation.
- Be your own boss. You are free from the hassle of having to please your boss plus you have the freedom of time. If you like making decisions and you are confident enough that you have what it takes to lead then this is for you. Remember that if you become your own boss you are not free from meeting deadlines and expectations, you have to perform well and set expectations for yourself. If you become lax and over confident then that might be a problem and affect your business.
It is always great to start your own business and become an entrepreneur but remember that there are always risks and not everyone becomes successful. Failure in a business is usually the result of any of the following:
- Failure to plan and do research on your business.
- Failure to be open minded to learn and grow.
- Being over confident of success.
- Overlooking the financial needs of your business until you achieve profitability.
- Failure to listen and be motivated by other successful people in your line of business.
If you are planning to start your own coffee business then you are lucky since Essential Brands Group Philippines would be willing to help you start your business. We have the machine and the consumables plus the skills that you will need to jumpstart. If you are interested you can contact us at +63(2) 535-7333 or send us a message.
We would be happy to help you become successful.