Running a Coffee Shop and Bakery
Running a coffee shop or a bakery sounds pretty easy, since it’s just supply, and demand and food is not considered an extremely hard business to master but that’s where most people are wrong. It is hard to master and the reason that Starbucks is Starbucks and other coffee brands haven’t even come close to its popularity is that they’ve mastered something they’ve not. However, a coffee shop or bakery is one of the most rewarding businesses to try your hand at too.
You can go through agencies to find a good coffee shop or bakery to buy in to or manage and you may not find what you’re looking for. The turnover and the investment may not be enough for you but that’s OK. That’s what business brokers and agencies are for; they’ll find the perfect fit for you.
You also need to be wary of the location you’re buying and the neighborhood. It should be secure and more importantly, should be an area which is easily accessible for people looking to take a load off and relax or buy their kids some treats.
It’s very important to get some people that are reliable and aren’t afraid to step up when things go wrong. You need established adults and experienced people behind the counter. These are the people that can stop shoplifters, break up rowdy crowds and calm youngsters down and can deal with customers that are hotheads and are being unreasonable.
You can also go through an employment portal and an agency to find out what demographic is the best fit for this kind of job and what kind of salary they’ll demand to begin with.
You can also benefit from a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) which will allow you to recognize what you need to work on, what you need to improve and what you need to advertise as your main selling point. This is important to do since it will give you an objective outlook on to your performance and will allow you to receive constructive criticism on what your weaknesses are.
You can’t really get mad at a chart and since that is what will be telling you your problems, it’ll be easier to engage with them.
Engage with the Previous Owners
The people that you’re buying the business from need to be an essential part of transferring the business over. You can’t do this alone obviously and you can’t depend on just your agency to do it either. The people that have owned this business previously know the ins and outs and what works and what doesn’t and what the best way is to deal with the oft occurring problems.
They are a valuable reservoir of knowledge that you can’t afford to not tap. All that said, you should also bring in your own ideas to the table to make sure that you can call the business your own, otherwise it’ll just feel like a corporate acquisition.