Have you ever wanted to become a coffee shop owner? Starting your own coffee shop business can be a daunting idea when taking into consideration the startup costs. But, if you have a solid business plan and can forecast a high return on investment, then starting your own coffee business could be the best thing you ever do.
Note that this is not financial advice! We are only looking to encourage you to chase your dreams!
Well, that depends! Buying into a franchise like Mugg & Bean makes it possible for you to startup without having to start the business from scratch, taking away a lot of risks (there are still initial costs when buying into a franchise). But today, we are talking about independent coffee businesses and why we believe it’s worth starting one of your own. Here are some of our favorite reasons why owning your own coffee shop is worth it.
The coffee industry is massive for a reason. It is the most consumed beverage in the world which means you will always have potential customers. Besides, it’s not like you’re reinventing coffee drinks! Independent coffee shops generally build a customer base rather quickly, and if you can nail the customer service, you may be on your way to a very successful business.
Coffee shop startups can be so diverse. You can become a specialty coffee shop that uses particular coffee beans and makes gourmet coffee. Or you can sell quality coffees alongside cold drinks, food products, and other quality products! Selling food items can be a great way to pay for that new coffee machine or help pay for other variable costs.
You can use your creative spirit to create the ultimate customer experience. Stock your favorite coffee brands, get a custom-made coffee grinder, or sell specialty coffees in funky cups. There are so many ways to have fun with this business opportunity.
Although the majority of coffee is consumed in the morning, that doesn’t mean you need to start work in the morning. Business owners generally make their own working hours. If you want to open a sit-down coffee shop from 12 pm – 8 pm, you can do that! If you want to open for 4 days of the week, you can do that too! If you want a food truck (that will save you on occupancy costs for sure!) to sell coffee out of, you will never need to check in to your work again!
There are so many reasons why starting your own coffee shop is a good business idea. Business ownership comes with risks, but it could lead to life-changing benefits.
Be sure to do thorough business research and compile a fantastic business plan (relevant to the foodservice industry). You’ll need to take into consideration all your potential costs (labor costs, initial investment, etc) and find a recipe that will ensure you with regular customers.