Here Is The Science Behind Making A Profit At Your Coffee Shop
Okay, time for a plunge?
If setting up a coffee shop on your own seems to be what you are destined for, fret not, because here are some really good tips that have been got from the owners of some of the most successful coffee shops and surely they are pearls of wisdom.
So let’s get started with the list:
- You need to know before you tread:
Information is indeed power. Only if you are clear with what it is that you want can you convince your employees to take your trade forward. Corporate favorite lines and strategies have to begin to win your mind but they have to come from your heart. Therefore, only if you think that you have the eye for a perfect cup you must steer away from large investments. You can start small and build up in case you think you will learn more while on the job.
- The passion is extremely essential:
You need to be passionate about business, about performing well and outdoing the competition. But when you are in a business like a coffee shop you must have an additional passion and that is the passion for coffee! Unless you have it you cannot pass it on!
- The location:
Great location may not matter so much but it does help when it translates into bigger number of footfalls. You will need to work out for yourself if buying a fancy location is a viable proposition for you in the nascent stages or you can work yourself up as when the working capital increases or you can afford to pump in more money.
- Your pricing:
This is the most important of all. Your coffee must be perfect and consistent no doubt but it must be priced right. You cannot by any means make the customer feel that you are taking them for a ride by taking hefty sums for a cup of substandard coffee. So, pricing is extremely important. To offset competition, it is always suggested that you can buy coffee bags in bulk so that the price benefit adds on the costing and helps you make a good margin on every cup.