You'll need to do more than come up with a clever idea for a name, though, if you actually want your new business to succeed. So how do you compete in the caffeinated coffee crowd? Here are some in-depth tips for starting a successful coffee business:
Develop a business plan -- Obviously, this has to come first. Without a business plan, you will be in logistical chaos. On top of that, it will be virtually impossible to secure loans for basic funding. Solid business plans outline exactly what your company will do, how profitable it will be, defines your exact customer base, and accounts for competitors in the space. Step one for any coffee business -- any business at all, for that matter -- should be to craft a solid business plan to impress investors and set yourself up for long-term growth.
Find a great location and create a floor plan -- In order for your indie coffee shop to succeed, you must secure a great location. Try to find a building that is centrally located and close to an area where people frequently pass both by car and by foot. Additionally, your actual shop's floor plan needs to be comfortable and welcoming. Ideally, you will find a space that previously housed a food and beverage company like yours.
Purchase all the essential items -- Your customers aren't going to extend their hands and have you pour scalding hot coffee into their palms, hopefully. Be sure to have high quality coffee cups, drink sleeves, and lids available at all times. You need to make sure your shop is well stocked with all the necessary coffee-related items. You'll needs coffee cups with lids and sleeves, wooden stir sticks, napkins, paper plates, and so much more.
Work with a professional accountant -- Though starting and running a coffee shop can be extremely exiting, it can also be quite stressful, especially in terms of finances. Hiring an experienced accountant can help you get and stay on the right track throughout the entire startup process.
- It's all about the people -- Many business owners act as their own manager initially, which may or may not make sense for your store. Whether you are hiring a manager or stepping into that role yourself, the people you hire to staff your coffee shop will make or break its success. Look for employees who already have barista experience, as not everyone is cut out for the fast-paced operations of a coffee shop. If your employees are dedicated -- and as passionate about coffee as they are about helping people -- then your store is on its way to success.