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Job Opportunities and Wages in the Coffee Shop Industry
- The Coffee Bean & Tea Leaf pays employees $17 per hour on average.
- Salaries at The Coffee Bean & Tea Leaf range from $20,000 to $61,000 per year.
- The average hourly wage for baristas is $9.00.
- Baristas also earn tips, increasing total earnings.
Opening a Coffee Shop
- The cost of opening a small coffee shop ranges from $40,000 to $200,000.
- Key expenses include location, build-out, and purchasing products.
- Studies show medium-sized coffee shop owners earn $50,000 to $250,000 annually.
- Margins on coffee and tea can reach 95% per cup, much higher than 60% margins on food.
Income Generation and Pricing Strategy
- Coffee shops generate income by selling coffee, tea, and food.
- Profit margins per cup are key.
- The average price for a cup of coffee across all restaurant types is $2.
- As a Fair Trade company paying farmers $1 per pound, Starbucks coffee is 99% ethically sourced.
- Independent shops see £100,000 to £150,000 turnover typically.
- Margins can be increased through premium product pricing and controlling costs.
- Prime locations raise start-up costs but ensure essential foot traffic.
