The coffee shop business has been mushrooming lately. This is due to the increasing number of people who like to get together and enjoy coffee with friends. Therefore, coffee shops can be a place where they chat with friends or family.
For the businessman himself, this can be a fairly profitable arena for scavenging Dollars. Especially if the shop that is managed has complete facilities. It is not impossible, tens of millions can be obtained in just one day.
On that basis, the following article will explain the reasons why coffee shops are profitable. Meanwhile, at the end, we will elaborate on how to start the business.
Reasons Why Coffee Shop Business is Profitable
Of course, there is a reason why coffee shops have mushroomed lately. Here are some reasons why building a coffee shop is a profitable business option.
1. Coffee is the Best Friend for Chatting
The first reason is because coffee is the best friend for chatting. Therefore, opening a business in this field will attract visitors who just want to chat in that place.
Because there are quite a lot of coffee lovers when chatting, of course, coffee shop visitors are also relatively multiply compared to other types of businesses. Well, that’s where the benefits can be obtained by business people.
2. No Big Capital Required
The next reason this business is profitable is that the capital required is not too large, so the profit earned is much more. The highest capital, at most, is to provide a place. Because business people have to rent land and spend money to build buildings.
As for the menu itself, the capital required is not as big as a restaurant providing heavy food. Because what needs to be prepared is only snacks and various types of drinks. While the menu of various variations of coffee also does not require large costs.
3. Customers Reach All Kinds of People
Restaurants that serve heavy meals sometimes only reach a certain group of people. Especially if the menu presented is expensive. On the other hand, the coffee shop business is profitable because it has a wide range of customers. Let alone the elderly, young men and women also like it.
Because of this, the opportunity to get high profits is very large. Especially if the room design and facilities are favoured by all customers such as wifi, flower gardens and so on.
4. Cheap and Festive Menu Price
This business is profitable because the menu prices are cheap. So the customer demand is very large which makes the menu sell well. In economic theory, the more demand, the more abundant the product, of course the profit will be received by the businessman.
Because of this, even though the price is cheap, but the menu is in demand, the profit for the shop owner is of course also doubled. Therefore, this is also the reason why the coffee selling business is very profitable.
How to Start a Simple Coffee Shop Business
Now that you know the benefits of opening a coffee shop, the desire to do business in this field is certainly great. Therefore, below we explain how to get started. Here’s how to do it:
1. Prepare Initial Capital
The first way to do a coffee shop business is to prepare the initial capital. What needs to be included is the financing of building construction, facilities, and menus for several months.
To get the right amount, please do a survey first to business people who were successful before. Don’t be shy to ask the amount of capital they used at the beginning of the business.
If all the capital has been found, then enter the next stage, which is to find a strategic location to build a business.
2. Finding the Right Store Location
The location in question is not just on the side of the main road. But at the very least, choose one that has minimal competition, is in a beautiful and cool location, and is close to residential areas.
If this kind of location has been found, immediately build a shop according to the capital that has been prepared. Please complete Wi-Fi facilities, build a flower garden around the shop and a small pond that makes the atmosphere more comfortable.
3. Invite Competent and Experienced Workers
For beginner entrepreneurs of a simple coffee shop business, maybe you can invite family members. But if it has grown, then business people need to look for outside labor who are professionals and have experience making the best coffee concoctions.
Entrust them with the tasks of cooking, coffee brewing or barista, serving customers, being a cleaner and others.
4. Keep a Detailed Record of Expenses and Income
Every good business starts with regular income and expense reports. Record all expenses and income that occur in your coffee shop business. This will help you to make financial reports and allow you to create new menus and replace menus that are not selling well based on these financial reports.
If the transactions in your shop are already quite large and complex, you can use accounting software for more efficient bookkeeping.