Open Coffee Shop - Does Your Coffee Shop Strategies Makes Any Sense?
Now, you have made a lot of plans and finally it is time to take the plunge into entrepreneurship.
Before you open coffee shop, there are a few things you must consider first.
One of the most critical things is the level of competition in the area.
You do not actually have to make sure that your coffee shop is the only own in town.
What you need to do is to conduct an in depth research before committing your hard earned money in a coffee shop.
If there is a Starbucks in the vicinity, it is a good sign of strong customer demands.
As Starbucks is a financial juggernaut, the management would have done a lot of studies before opening a coffee shop.
There is another advantage of having a Starbucks.
The customers will eventually get used to paying slightly more for quality products.
Sooner or later, it is a norm to pay $5.
00 for a cup of coffee.
Anther thing you must bear in mind is to come up with your own unique selling proposition.
Do not try to please everyone as it is the fastest way to fail.
The easiest t way to start is to come up with an unique theme.
When you just open shop, you may think outside the box to maximize you operating cash flow.
So, you may want to consider renting your coffee shop during non peak hours.
Another way to utilize excess space to generate additional revenue streams.
This also has the effect of adding some spice to your coffee shop.
A lot of people may try to come up with new concepts and ideas.
You may not need to reinvent the wheel as many of these ideas have been tested in other areas by now.
Having a great concept is normally half the equation.
The other half lies in good execution.
If you are not convinced, look at the number of shops that open and close for the past few months.
Do not be discouraged as the market shares for coffee keeps expanding as more people need a cup of hot espresso or latte every morning.
Lastly, for not renovate your shop until it is no longer looks like a coffee shop.
Be mindful that your shop is selling coffee first and other concepts are secondary.
For example, you can have a book store with coffee concept.
But the book store takes a back seat for the coffee.
Always be creative and adapt with the changes in the marketplace.
Before you open coffee shop, there are a few things you must consider first.
One of the most critical things is the level of competition in the area.
You do not actually have to make sure that your coffee shop is the only own in town.
What you need to do is to conduct an in depth research before committing your hard earned money in a coffee shop.
If there is a Starbucks in the vicinity, it is a good sign of strong customer demands.
As Starbucks is a financial juggernaut, the management would have done a lot of studies before opening a coffee shop.
There is another advantage of having a Starbucks.
The customers will eventually get used to paying slightly more for quality products.
Sooner or later, it is a norm to pay $5.
00 for a cup of coffee.
Anther thing you must bear in mind is to come up with your own unique selling proposition.
Do not try to please everyone as it is the fastest way to fail.
The easiest t way to start is to come up with an unique theme.
When you just open shop, you may think outside the box to maximize you operating cash flow.
So, you may want to consider renting your coffee shop during non peak hours.
Another way to utilize excess space to generate additional revenue streams.
This also has the effect of adding some spice to your coffee shop.
A lot of people may try to come up with new concepts and ideas.
You may not need to reinvent the wheel as many of these ideas have been tested in other areas by now.
Having a great concept is normally half the equation.
The other half lies in good execution.
If you are not convinced, look at the number of shops that open and close for the past few months.
Do not be discouraged as the market shares for coffee keeps expanding as more people need a cup of hot espresso or latte every morning.
Lastly, for not renovate your shop until it is no longer looks like a coffee shop.
Be mindful that your shop is selling coffee first and other concepts are secondary.
For example, you can have a book store with coffee concept.
But the book store takes a back seat for the coffee.
Always be creative and adapt with the changes in the marketplace.