Running your own coffee business can be hard – but there are huge profits available to those who get things right.
Make sure your fledgling coffee cart business is successful with help from these 6 top tips.
1. Know your beans
The single most important aspect of running a successful coffee business is passion – if you don’t love coffee, you’re never going to reach your full potential.
This starts with understanding how to make a good, consistent cup of coffee – so you’ll need to practice your barista skills and learn how to get the best results out of your machinery.
You’ll also want to develop an understanding about different blends and preparations, gaining knowledge about how different flavours work together to create the perfect cup of coffee.
2. Write a business plan
Those who fail to plan, plan to fail.
Creating a good business plan is the first step towards a successful coffee business. A business plan is essential if you’re going to be seeking funding from a bank, and it will help to focus you, and ensure that you keep moving forward.
A business plan might include:
- Your vision, goals and objectives
- Keys to success (how you’re going to achieve your goals)
- Costings & projections
- Sales & marketing strategy
- Market, competition & customer analysis
At Big Coffee, we’re happy to help you write a business plan if you need some support.
3. Market your business
You won’t get very far without customers. Whilst you might get by with passing trade, actively marketing your business to potential customers is the best way to ensure that your business is a success.
From traditional leaflets, flyers and ads, through websites, social media campaigns and content marketing, to loyalty cards and special offers, there’s a huge amount you can do to build a customer base and have them coming back for more.
There’s no single right way of doing things, so try out a few marketing methods, and find something that works for you.
4. The right people
Every business lives and dies on the quality of its staff.
As you grow your business, taking on the right people can mean the difference between success and failure.
When choosing staff, the right attitude is essential. You can teach pretty much anyone to make a good cup of coffee, but you can’t teach charisma, passion or friendliness!
5. Systemise it
The gross profit margins on coffee are really high – in fact, the biggest cost factor for most coffee businesses is staff wages.
Whilst you can’t rush a good cup of coffee, speeding up your processes and cutting down time wasted will help to maximise your profit margins.
One of the easiest ways of streamlining any operation is by implementing effective systems. In its simplest form, this means working out the best and most efficient way of doing something, and repeating it every time!
As your business grows, and you start to take on more staff, you can write these systems down to ensure that your whole business works efficiently and in the same way.
6. Have fun!
Choose a job you love, and you’ll never have to work a day in your life – Confucius
There will be times when running your own business is stressful, and there will be times when things go wrong – but never forget why you launched your coffee business in the first place.
Chances are that you wanted to escape the rat race, and do something you were passionate about.
Remember to have fun, enjoy yourself, and let your passion for coffee come out in the work you do.