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Step 1
Do your research. Visit coffee and bagel shops in your intended area. Make notes of the features they offer, their prices, their location their clientele—anything of note that you can relate to how you want to run your business.
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Step 2
Offer a superior product. Convenience is not always the only thing people consider when choosing a coffee and bagel shop. It is not uncommon for people to travel extra lengths for a superior brew or a perfectly toasted bagel. Become good at what you do and take a lot of pride in it. The goal of any business should be to make money, but that does not mean you should ignore the needs of your customers by offering an inferior product.
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Step 3
Pick a location. This will be determined by the kind of clientele you want to bring in. For example, if you want to attract college students, pick a location that is as close to campus as possible. You also need to determine how much rent you can afford to pay and how much start-up capital you have before picking a location that works for your business.
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Step 4
Determine your expenses. Draw up a list of expenses that covers rent, food costs, labor costs, equipment costs and marketing costs per month. This will help you determine how much you need to make each day to break even and, hopefully, to make a profit.
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Step 5
Draw up a business plan. Take the itemized list from the previous step and develop it into a business plan that will cover your objective, your equipment and food needs, your goals, your plans and everything else involving the business.
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Step 6
Get funding. You may have all the money to pay for your business from the start, but this is probably not the case. You have to spend money to make money. You will need to find funding in the form of small business loans from banks and other agencies. In most areas, there are schools that offer (sometimes free!) seminars in getting funding for your small business.
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Step 7
Buy your equipment. Use the specs noted in your business plan to find the equipment for your shop. This will include coffee brewers, espresso machines, coffee grinders, ovens for your bagels, refrigerators (you have to keep cream cheese cool!), mixing bowls for your dough and a lot of other machinery. It is not always the best idea to buy equipment solely based on lowest price. Similarly, you do not always need to go over the top and buy top-of-the-line equipment. Do adequate research to determine your equipment needs first, and then consider the price.
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Step 8
Create your space. This is where you have to get creative. Build up your coffee and bagel shop to your liking. You could look in small business magazines for inspiration. Install your countertops and carpets. Paint your walls, buy your furniture. Create an inviting atmosphere for your clientele.
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Step 9
Hire your employees. While it is a good idea to keep expenses low when running a small business, you can’t do it all by yourself. Hire employees who will be a serious asset to your business. This does not mean you can just hire friends—sometimes friendship can interfere with good business practices.
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Step 10
Promote your business! This is an often-overlooked part of owning a coffee and bagel shop business. If you build it, they will come, but that doesn’t mean you have to wait for them. Take out ads in the newspaper, pass out fliers and offer incentives to get them in the door. Once they know where you are and what they can expect from your store, they will be more likely to stop in again.
Comments
flor2729 said
on 9/23/2008 Great article, helpful tips.