Opening a small business is equal parts exciting and terrifying. There is just so much to learn, and half the time you don’t even know what questions you should be asking. You have to juggle the legal and economic requirements of legally running a business while offering your customers the experience you always dreamed of, so it’s natural to feel a little apprehensive about your newest endeavor. Here’s our guide to opening a coffee shop.
Fortunately, you have more resources at your fingertips than you realize, and local governments genuinely want to see you succeed. That puts a lot of power at your back, which you can utilize in the early stages of development as long as you’re clever and determined. Let’s talk frankly about what you need to do to get your coffee shop started and how to keep it going.
Figure Out the Legal Requirements First
The first step in our guide to opening a coffee shop isn’t the most glamorous. But, there is no point in putting together a business plan or a shop design until you understand the local statutes that govern small businesses in the area. The required permits will shift slightly from place to place, so your first step is to contact the Small Business Administration to find out what is necessary for your business to operate in your local area. Once you have an idea of the costs of these permits and any required legal fees, you can factor this into your business plan’s budgetary aspect.
Create a Polished Business Plan
Your business plan is an all-purpose document. It serves to summarize your vision and ability to turn it into a reality. It must function as a guide to how your business will succeed. And it is the document that potential lenders will almost certainly ask for. Although you and your lenders understand that the business plan will evolve with the business, you should design it to reach five years into its existence.
A good business plan should include your target demographic, a review of your competitors, a sample budget, financial projections, and established goals. For the most utility, you should have two versions of this document. One version should be a one-page summary that you can easily hand out to potential investors, while the other should be a lengthier document that goes into more detail.
Furthermore, it should look professional. A great concept and a solid budget won’t be enough if investors never get past the first page. To increase the production quality of your business plan, consider hiring a freelance graphic designer to give it some polish before taking it in. This is a relatively inexpensive way to increase your chances of early success if your numbers are solid.
Pay Attention to Aesthetics
To be successful, you will need foot traffic and a façade that invites new customers inside. Come up with a design and unique aesthetic that will draw people in. And enlist the help of a commercial realtor to find the location that best fits your design and demographic needs. Fortunately, whether you’re going for trendy, cozy, or something in between, creating the right aesthetic and offering a high-quality product doesn’t have to sink your budget. When it comes to furnishings and décor, you should always shop around for the best balance to make sure what you pay is going to return on your investment.
Don’t Skimp on Product or Equipment
Your catchy slogan and warm lounge may bring people in. But it is quality coffee that will keep them coming back for more. Look for fair trade beans that consistently brew delicious coffee and make sure that your commercial coffee makers are up to the task. At the end of the day, it will be your ability to find a balance between cost and quality that will truly make your coffee shop a success. SC Beverage is here for all your needs, from water filters to beer fountain machines.
