Is It a Good Idea to Open a Coffee Shop?
It is worth it to open a coffee shop if you have enough money to hold for at least a year without making a profit, if you are passionate about coffee and serving people, and not afraid of persistently coping with good and bad days.
Expert Perspectives on Coffee Shop Ownership
John Richardson and Hugh Gilmartin, The Coffee Boys (2010), say “Owning a coffee shop genuinely is one of the most rewarding jobs in the world." However, these two authors also mention in their books: "The dream may not be what you had envisioned. It will, without a shadow of doubt, involve a number of lows as well as highs so you cannot go into it unless you really want it and you have your eyes wide open”. Colin Harmon says: “I have seen the reality of running a coffee shop turn from a dream to a nightmare on many occasions."
Starting a Coffee Shop
Starting a coffee shop can be an exciting and profitable venture for an entrepreneur with a passion and love for coffee and customer service. Self-doubt and being unsure of the market are reasons why people struggle with opening a coffee shop.
Reasons for Coffee Shop Failures
The number one reason failure cited within coffee shops is being unprepared for ownership (55% of respondents). Coffee shops fail for many reasons: lack of consistency, poor management, burnout, insufficient funds.
The Benefits of Opening a Coffee Shop
Some benefits you can get are: Coffee never goes out of style. It can be a great source of extra income. Opening a café is a long-term investment.
Considerations for Profit
Below are things to consider when figuring out profits: It can take time to break even or profit. However, once into the swing of things, there is a high chance your coffee shop will make good profit. If only a side hustle, it can provide extra cash. It also has potential to be the main income.
Managing a Coffee Shop
How hard to run? Serve great coffee and tea with friendly service most important. Help with a business plan, budget, equipment, health regulations, design.
Is Opening a Coffee Shop a Good Idea?
Is it a good idea? Yes, people love coffee. Have a shop in a mall or downtown. Keep prices low so more sales. Advertise locally. Good staff is the most important, deal with customers.
Conclusion
People need coffee before work – a shop can provide instant coffee or a nice brunch for eating in or takeaway. Good decision? Comments and advice welcome.