How To Start Your Own Coffee Shop Franchise
Everyday over 2 billion cups of coffee are drunk around the world, with it being one of the most popular drinks. Here in the UK, the coffee market is still relatively new and the market is set to double over the next 10 years, with turnover estimated to be more than £2.5 billion.
So would this be a perfect time for any budding entrepreneur to take control of their life and invest in a coffee shop franchise? Yes, would be the simply answer, but before you go rushing into any purchase, there are some vital aspects to keep in mind when choosing this new opportunity.
You have to make sure that the coffee industry is really where you see yourself. You will need to do research about it and it will be expected that you will have knowledge of the products you sell. The UK is becoming more like Europe; connoisseurs to coffee, and customers will not only expect a quality service, but quality products as well. Remember that owning a coffee shop means you will need a premises and the capital to own and run it.
Your research should utilise what you have available to you. This includes using the internet for sources, like this website, in trade magazines, example The Franchise Magazine, or by attending a franchise exhibition, The National Franchise Exhibition.
Now that you are aware of the different options of coffee franchises you need to ask yourself the following questions that may help you make your decision.
How much capital is the franchise asking for?
You need to find out whether this option is financially viable. You need to find out if the franchisor will support you in this or if you need a third party financial assistance.
Does the franchise have a recognised brand name in your country or area?
This can really make the difference in your business being a success or not.
What training does the franchise provide?
This can vary from franchise to franchise so you need to really find out what they offer.
Are there other coffee shops in your area that could affect your success?
Your coffee shop will not be a success if the area in which you choose to set up is already full of coffee businesses. Franchisors will often be aware of this and will advise you on possible locations or give you exclusive territories.
Does the franchise have strict guideline policies?
The franchisor may have certain rules on the appearance of your storefront. This could include logos, counter placement and décor.
There is a way to ascertain this information and that's by talking to franchisees, talking and visiting the franchisor's head office and asking those all-important questions. If you have a question about anything this is the time to ask before you have invested a large amount of your own money into this opportunity.