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How to make money from your coffee business

As one of the world’s most popular drinks, it comes as no surprise that hundreds of people want to start up a coffee business, to cash in on the demand. Despite 65% of coffee consumption taking place during breakfast hours, there is a constant demand for this delicious drink. But whilst owning your own coffee shop can be fun and satisfying (after all, you’re helping the nation start their day), the Caffe Culture is extremely competitive and even the most successful entrepreneurs and independent coffee shops struggle to keep up with what’s required to stay at the top of the game. If you want to run a coffee shop, here’s what you need to know to bring in the bills!

Keep smiling
When the going gets tough, it’s important to keep positive. Running a business is hard, especially when it’s not making money, but it’s knowing how to deal with those hurdles that’s important.

Taste the difference
Be passionate about what you do – customers want good quality, but if you’re cutting corners with ingredients and presentation, they’ll definitely notice. If you can’t deliver what they want, they won’t come back again.

Know your customers
Make sure your shop fits in with the area. A luxury espresso bar won’t work well next to a building merchants, and a greasy spoon café next to some slick city offices will stand out – and not in a good way.

Target that market
Once you have enticed customers in with deals, offers and a quality service, it is important to try and maintain their service, so they come back again.

Look at the books
Keep on top of your spenditure and see how much or little you have made every week. Knowing what everything on your menu costs will help you to keep everything hanging well together.

Get a mentor
Asking for advice or help from someone more experienced than you isn’t weak. In fact, it could save you from making many bad decisions, as well as providing you with invaluable business insight.

The customer is always right
The customer has to be at the forefront of your mind, always. What it is they want, what are they experiencing, what will make them stay and perhaps most importantly, which competitor might make them stray?

Communication is key
Your coffee shop is your vision and you want it to be successful. Don’t be afraid to share this vision with others, as you will need to recruit, train and develop competent, conscientious staff.

Make an effort
If you want customers to come back, it is vital to consider what things look, sound, taste, smell and feel like. Get more than three of those right, and the money will soon come rolling in!

Don’t forget why you’re there
Serving coffee is a hospitality job, which can be both physically and mentally challenging. If you have the personality, the means, a good team around you and a loyal number of customers, there’s no doubt it’ll be a success – and the rewards are worth it.

For more great tips and advice read: Wake Up And Sell More Coffee: Fresh ways to make money from your coffee business (Robinson) by John Richardson and Hugh Gilmartin.