How Much Does It Cost to Start a Coffee Shop
Opening a coffee shop business takes some guts but also, you have to have the passion for the kind of business that you’d like to do. You must also believe in the product that you offer to people. If you believe in mornings and making the day great by starting it with a cup of coffee that does not mean that it would already be enough for you to get started on putting up a shop for coffees. There are other things to consider so you will need to question yourself. ‘How much would it cost to open a coffee shop? ‘and ‘what would be the running cost of coffee shops?’
These two things are important because besides the expenditure factors, there will also be operational things that your business will incur that you will also have to take care of. Nonetheless to a positive business minded person, the challenges of opening up a coffee shop business is nothing compared to the rewarding factor of being able to serve people great tasting coffee, and serving your customers. Everything can just simply begin with the first things first. To figure out the price to open a coffee shop.
The Coffee Shop Start Up Cost
First off, opening a coffee shop is not any different from opening up any other kind of business. You will first need to have a business plan and make sure that the product you are offering has a market to serve. The great thing about this business is that many people no matter what time of the day would always prefer to meet up and have a sip of cup in a coffee shop. Look at Starbucks, they will be your competitor but being the world’s number one coffee shop, let them serve as you model with regards to your own version of them.
Next thing to note is the average startup cost for a coffee shop. You can do this right after identifying your market and location. You can being researching for the prices that a small coffee cart to a bigger café space when you do your research. It has been reported from Espresso101.com that the average cost for a coffee cart would be ranging from $20,000 – $25,000 dollars for a small one. If kiosk is what you prefer, you will be spending in between $25,000 – $75,000 dollars. Besides these two there are also another fashionable and welcoming way to serve your customer by opening up a Drive-thru for coffees.
A drive-thru coffee shop cost around $25,000 dollars for a small one and around $80,000 – $200,000 dollars for a large one. If you plan to have your shop look like a lounge where your customers could sit, chat or do business together, you will have to spend around $200,000 – $375,000 to provide a decent shop for your customers.
After knowing these things, you now will have to consider the theme of your shop. It will not hurt if you feel like copying a little bit of other people’s business idea. Just make sure you do not copy everything so as to avoid, plagiarism. One thing is for sure, because there already too many coffee shops in the country, you have to try your best to make your shop be different from among the rest to give your business its very own personality. Things like these will give your business a unique edge.
Other Things You Will Need
Knowing how much to spend in opening a new business is one thing and getting the funding for it is another. Once you have been able to determine the average startup cost for a coffee shop, this is where your business plan will come into play and you will start working for it. Your plan should be well written on paper and should be able to include the necessary details about the shop including the expenditures for the rent, the table settings inside your shop, the equipment and the utensils to be used and the raw materials for your product. It would also be good to include you business’ annual profitability projection that will at least cover a period of 5 years, so at least you will have an idea about the running cost of coffee shop.
Try to make a ballpark projection how much you will have to pay your baristas, and other employee of your small business? Bea realistic in your projection. This way, the lending institution you are trying to apply for a business loan will be convinced by your proposal.
Dream of Success
You know as they say, great things start from small and humble beginnings. So it’s just possible enough that as you try to learn all that you can about coffee brewing and serving, could bring you success. All just because you thought of the question ‘what is the price to open a coffee shop.’ How sweet it would be if the one thing that wakes you up in the morning is the one thing that you live with and make a living out of every day. That would be the perfect life. Just remember to keep your eyes on the prize.
For a more technical approach on marketing your would be, coffee or espresso products, make sure you do everything to make your store customer friendly. This way you can make happy returning customers that could help you generate more revenue in your business. You can also issue loyalty cards if you like to bring more customers in. You might want to follow what the Forbes Website has to advise for your coffee shop business success.
As Stephen Covey author of Seven Habits of Highly Effective People has put it, “Begin with the end in mind.” This simply means that when you dream it and you work on it, it will come to pass. Do not be afraid to start small. If you think of your small coffee shop as a business that later on could turn into a multi mullion company, keep at it! After such dreaming of reaching that goal, then get to work. Open up your stall and start serving the best espresso coffee in town.