Tips to Opening a Successful Café
NZ is one of the highest consumer of coffee in the world. Higher than the USA and Australia. We drink on average 2.5 cups per week. The survey showed that equally both men and woman were guilty of skipping breakfast for a coffee according to the survey completed by Canstar Blue. Also, we all know New Zealand has great coffee or perhaps the best in the world.
it’s no wonder that this industry is booming. However, if you’ve been thinking of combining your love of coffee with your desire to open a business, you should know a few things before you start.
Create a Business Plan
There’s nothing that you can be sure of before you do this. It’ll present an overall objective picture of what you need to plan for. It’ll present what kind of funds you need, what legal obligations you have to fulfill and what leg work you have to do before opening a café. These things won’t become apparent before you do the work and they certainly won’t all come up while you’re brainstorming.
Location, Location, Location
Location is all important in real estate and when finding a location to establish a restaurant in, you need to be aware of the locations that provide the best traffic and that are regular passing places for coffee drinkers. These could be streets where lots of local businesses or offices thrive or where people hang out generally in the evenings after work. Either way, location is always important to the success of a business, specifically a café.
Hire an Accountant
If you’re going in to business for the first time or the last time, you need to keep account of your expenses and make sure that your expenses are being accurately calculated. An accountant is also necessary for making sure that you pay your taxes on time and right and that you get back any tax deductibles that are owed to you.
Get help for Funding
You could ask your friends and family for funding which is the first option and show them a concrete plan for your operation. You could also go for bank loans and crowd funding campaigns if you want but be warned that they don’t always work out.
Save Money for your Own Expenses
Other than startup costs, don’t forget that your time and energy will be devoted to this business and it won’t be profitable for about six months or more. That’s completely normal for a business, so you should know that spending all of your money in one go or over spending on one thing is never a good idea. You should plan ahead and make sure that your funding is appropriate enough so that it can last until you make a profit.
Networking is Very Important
There needs to be some sort of relationship that you have with other businesses that will help you in the long run whether it’s for supply and demand, attracting more customers, or getting perks. You could join a local chamber of commerce, a business association or partner with a local charity. These connections will help you out with visibility and attract more customers.
It’s important to realize that opening a café is hard work and requires the input that is needed. If you follow these instructions and put in the hard work, you’ll be on your way to running a successful café.