Coffee Shops are everywhere – they’re all around the metro and there are so many choices to pick from when you suddenly feel the urge to take a sip of your favorite espresso or macchiato. It’s no wonder why starting a coffee shop business seems like an attractive idea for budding entrepreneurs and even coffee lovers themselves.
According to an article published by the Washington Post, millenials play a huge role in the growing numbers of coffee consumption. Bloomberg’s research shows that in the United States alone, millenials consume 44% of the country’s coffee, as young adults born after 1995 start drinking coffee at an earlier age of about 14.7 years old.
The coffee business industry keeps showing positive indications of success and more tenderfeet are dipping their toes into the business. To help aspiring neophytes jumpstart their coffee shop business plans, we’ve made a list of what’s nitty-gritty in achieving fruition.
Don’t get intimidated by the bigwigs
While it’s true that the coffee business sector is filled with fierce competition from nabobs, that should not be a hindrance but a motivation to strive and match-up with your competitors. Some business owners think it’s a good idea to dodge the competition, when in fact it’s not. Come up with a well-thought business plan and find your strength. The edge of small scale cafés is that they are more meticulous, as they pay more attention to quality and detail.
We’re not talking about going all eccentric and offering drinks in weird colors or flavors. Your brand, or more importantly, your coffee, should have a signature that will leave a lingering effect on the minds of your customers. Whether it’s in your packaging, or the design of your café, it’s essential to know your niche so you can leverage on that.
Absorb good and bad feedback
Okay so you’ve come up with your menu. Find sensible people who can give you helpful insights. Talk to experts or people who’ve been in the industry long enough to know what they’re doing. Accept everything, especially the criticisms because that’s where we usually learn more from.