Despite the downturn in the global economy, cafes remain viable. Even though they are popular in many countries already, cafes can still be successful.
To get started, you should either have a lifelong interest in this type of company, or a burning desire to learn. If you're just starting to learn, attend every tradeshow possible. Subscribe to industry leading magazines.
If you have access to enough capital, consider a Cafe business for sale. An arbitrager can help you locate and arrange great opportunities. The knowledge of others helps you avoid potentially disastrous mistakes.
Even though you're eager to get started, take the time to find the best location. If there is a Cafe business for sale in a great location, purchase that.
Or, if you would rather start your own, identify several potential good starting locations. Consider the locality and who may come into the business. Will clients be more up-scale, or would they be more interested in a drive-thru style?
Whoever the clients might be, make sure there will be enough of them located physically nearby. Most of a Cafe's profits result from local foot and auto traffic.
The average cost of opening this type of company is relatively high. You will need a very thoroughly researched idea to convince others to lend you money.
It can take between four to six months from the time the lease is signed to when your company opens. This provides additional time to research customer purchasing trends and additional marketing strategies.
Just as the company is about to open, locate employees and have them trained by industry experts. You won't be able to compete with the big chains who have their systems down to an art. But, you can create a better customer experience or unique products not offered at other cafes.
Another strategy to provide value to customers is to hire better staff who will focus more on customers. This leads to an enhanced customer experience, which may make you more desirable than the chains.
Although buying a Cafe business seems daunting at first, it's not that difficult when you have a plan. If you don't plan thoroughly, however, you may end up selling a Cafe business.
About the Author
This Wiki was written by Andy White, CEO of Biz Trader .