Opening a coffee shop can be extremely profitable if you do it right. Pass by any busy specialty coffee shop and it will likely be full of customers enjoying coffee, espresso, lattes, teas, and a variety of pastries and other goodies. Serving quality coffees and snacks in a trendy, relaxing atmosphere is a hugely successful business model pioneered by Starbucks, which has grown to more than 31,000 coffeehouse locations around the world. If you love coffee and are looking for a business opportunity, this is your guide to starting a coffee shop and making it a success.
There are three basic options for starting a coffee shop:
Purchasing a franchise, in which case most of the major business decisions will be made for you. For a franchise fee, you will be provided with a turnkey business in a location selected by the provider of the franchise.
Buying an existing business. This is another way to acquire a turnkey operation. However, finding a profitable business for sale is not an easy task.
Starting from scratch. This option requires the most effort but has the most flexibility and the best potential to maximize profits.
Whichever option you choose, the same fundamentals for success apply. Your business plan for starting a coffee shop should incorporate the following key factors.