Setting up your own business is more popular than ever before. Business students Louise French and Amber King provide some useful top tips for new start entrepreneurs in the ever-popular world of coffee shops and catering.
Firstly – and this may sound obvious – make sure you have enough money set aside to start up your coffee shop business. Ensure there is sufficient funding to secure the premises and that all start-up costs are covered. One way to work out how much money is needed for the set-up of a coffee shop is by constructing a business plan which could include; wages for employees, the cost of equipment and any insurance.
Secondly, location is key in building your business: whether on a busy high street or an industrial estate, the success of a business depends heavily on its location. Easy access to the premises and facilities such as a near-by car park are an important part of the stress-free experience that you want customers to experience when visiting your coffee shop,
Another important aspect to consider is health and safety and food hygiene. This includes food being cooked at the correct temperature and storing and handling the food correctly. Inspections will regularly occur therefore, making sure your business is up to the standard required is important and are adequately trained in food handling processes.
Also you should make sure at least one employee is a qualified fire officer and at least one is a First Aider in case of any emergencies. It is also important that all employees know where the first aid box and any fire extinguishers are.
If you are unable to fund all necessary equipment, products and fittings required for your new coffee shop upfront then leasing may be an option. There are many benefits to leasing equipment for example, it is cost effective and is also a predictable monthly expense as the lease price will be the same every month and you can pay for equipment, for example a coffee machine, cooker and refrigeration units as well as tables and chairs, while you are actually using it. Leasing also leaves more capital for alternative projects throughout the business.
Attracting customers to your business is essential for creating revenue. Considering a theme could be one way of enticing customers. It is imperative to make sure that the theme of your shop fits in with the location and target audience. The decoration and furnishings of the interior design must be compatible with the theme and the location. Ensuring that appropriate music is playing throughout the shop is imperative as it can affect the reputation if it is inappropriate or does not meet the theme.
A unique selling point for a coffee shop is having Internet access. Customers are more likely to visit your business if internet access is provided. The expense of internet access is often overlooked and can be quite expensive. However IT equipment such as hardware, software, routers and telephony can all be leased and this can be a great way to cut down on upfront costs and protect cash reserves which will likely be needed for on-going running costs.
Marketing is also essential, such as having a website and brochures to advertise on a wider scale to any potential customers. Placing a small display ad in appropriate sections of weekly or daily newspapers would be good for marketing as it will entice customers. Another way of advertising would be through free giveaways and loyalty schemes to promote your shop and encourage repeat trade. Any way to get your name out there will benefit your business.
Following these guidelines should help ensure the success of your new business.
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