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- High competition saturates areas with independent and chain stores. Newer shops must stand out.
- Running a shop looks easy but many working parts exist.
- Failing to realize the work involved catches idea seekers.
- Not understanding the target market causes failure. Opening where few buy gourmet coffee ensures a short lifespan.
- Learn to upsell and cross-sell to non-latte and espresso buyers.
- Location matters – base it on customer demographics and traffic flow.
- Rent dictates location but don’t sacrifice positioning.
- Have enough operating capital for emergencies and inventory.
- Capitalize on industry trends but avoid risky fads.
Importance of Preparation and Management in Coffee Shop Success
- Failing to prepare causes failure. Do research by visiting shops, observe operations, talk to owners about the industry. Read extensively.
- Master brewing and marketing.
- Avoiding mistakes keeps a business afloat – overestimating coffee sales.
- Have the right team to avoid problems.
- Be patient. Seek attorney guidance.
