Ready to take action on your idea of owning a coffee shop?
Coffee shop franchises are hot these days, despite economic uncertainties in 2020. Experts look for the fast opportunities to adapt business models and move forward quickly in 2021.
1. Decide if you want to open a franchise, buy an existing business or start your own brand.
When you choose the franchise route, you tap into an established business with plenty of support on how to open a coffee shop. You can leverage a tried-and-tested business model to get started, instead of going through the process alone.
A franchise coffee shop gives you an advantage to learn from those who have started a coffee shop from scratch. These business-minded folks understand the risks and know what it takes to manage them.
Franchisors with a well-established franchise program know how to guide you through many of the decisions you need to make on how to start a coffee shop. And you have plenty of support available before you open, when you launch and as you grow your business.
Learn how coffee lovers turned into coffee shop owners and built the destination of choice in their communities.
2. Start your coffee shop with a well-defined plan
Think of your business plan like a road map. It keeps you focused on what you want to achieve, how to get there and how to overcome barriers along the way.
A clearly defined plan also defines your why. It spells out the purpose of your business, what matters most to you and what motivates everything you do. Your why gives you the energy to move forward, even when faced with challenges. It’s also what separates you from your competition.
Get to know a coffee shop founder who turned his why into a community-minded franchise business that gives back to its neighbors every day.
Here are essential sections to include in your business plan.
- Description of your business concept
- Analysis of your competition
- Expected costs to open and operate your business
- Sales and marketing strategy
- Operations plan
- Financial plan with projections
3. Put your plan in motion
With your business plan as your guide, it’s time to take action that moves you forward from idea to the reality of opening your coffee shop.
Here are key steps to start your coffee shop and keep your enthusiasm percolating at full steam.
- Define your brand – why your coffee shop stands apart from the competition
- Choose the right location to attract loyal customers
- Build out your space that sets the right atmosphere for your customers
- Recruit the right team to serve your customers
- Develop service standards and train team members
- Contract with suppliers and vendors
- Market your shop to your local community
- Identify potential revenue-generating streams
You can take the hassle out of starting a business on your own by investing in a coffee shop franchise. This approach offers plenty of opportunities to become part of a brand with an established reputation.
You can take advantage of support and training programs you need to launch your business. The right business model also offers avenues to tap into sustainable ways to build potential revenue streams or develop new ones.
A franchise coffee shop gives you a chance to touch every piece of the business. You control everything from revenue generation and overhead expenses to shaping the right customer experience and building loyalty in your community.
Take advantage of the opportunity to connect with a brand that speaks to you and the community you want to serve. The right fit offers plenty of ways to mold your business into what you want it to be.
Check out why a long-time entrepreneur opened a coffee shop franchise instead of going it alone.
As you search for franchise opportunities, ask if you can see yourself bringing the franchise brand – its personality, product and customer experience – to your local community.
Watch former Tennessee Titan Keith Bulluck share the love he found in owning a coffee shop franchise.
5. Know your numbers
Do your homework on the financials. Does the investment in a franchise coffee shop make sense from a financial perspective?
Low overhead gives first-time entrepreneurs an opportunity to make the most of their investment. Multi-unit investors can take advantage of well-defined ways to scale up the business to quickly boost potential returns.
Coffee shop franchise concepts that go beyond caffeinated beverages expand your potential revenue streams. That means a food program that works all day, delivery and catering services, loyalty programs, even swag sales.
6. Stand out from the rest of the java crowd
You invest more than money in a coffee shop franchise. It also demands hard work, dedication and perseverance. That’s why it’s important to look for a brand with a mission that aligns with your own values.
Your business is more than just a potential revenue generator. It’s an important part of your community. You have the chance to make your coffee shop the go-to destination for almost every demographic of coffee drinker – from Gen Zs to the older crowd and everyone in between.
Meet Thomas Scott, a multi-unit franchise owner, who opened a coffee shop franchise in Spring Hill, Tennessee, that the community quickly welcomed.
Low-cost franchise investment with high potential returns
Franchise opportunities are available in communities across the country. Find out what it takes to open a Just Love Coffee Cafe in your coffee-drinking and food-loving community.