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All you gotta do first is to have a "business plan", after that you can go anywhere as long as you have that business plan
Start My Own Espresso Coffee Business, Welcome
GO FOR IT. How old are you?? Do you have anything holding you back??
Do you have the funds??
As tonyharris said all you need is a Business Plan.
Do you know about SCORE?? SCORE is FREE and can help
Good luck, LUCKIEST
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by the way what is SCORE? I am 29 years old
Start My Own Espresso Coffee Business, SCORE is FREE
SCORE "Counselors to America's Small Business" is a nonprofit
association dedicated to educating
entrepreneurs and the formation,
growth and success of small business nationwide.
SCORE is a resource
partner with the U.S. Small Business Administration (SBA).
SCORE can help you succeed
other than the business plan, how much funds you need from the bank? in your plan you have to show what's your ability to repay the loan and how much experience you have etc. you also need an offer to lease for the location you are inteterested. Call the bank, sometimes they can help you for the business plan when you apply for the small business loan.
How about this idea? If your friend is doing well with his three plus locations, how about using him as a resource to get the info that you need? Or what about you and the friend do a partnership on a new store for you. If things go well, then maybe you can buy him out. He wins as he another store making money and he doesn't have to involved as it will be your store. He gets payback on his loan when you buy him out. You have the opportunity to open your own store, his expertise in operations and when you buy him out, you get the store all to yourself.
Just an idea.
Start My Own Espresso Coffee Business
puzzleman, GREAT idea. Also you find out how good the friend really is.
A partnership is like a marriage.
My idea is to look into a franchise. A few of them are really cheap they already have a customer base
recognized name and the products are already pre-packaged with the logo and the business name.
I've seen coffee shops franchise start off for about 500.00 dollars.
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i am interested in funding your project as long as it is worth it.
Can you kindly email me with more better details as regards to it for my perusal
Judging from the number of Starbucks cups I see here each morning, I don't think so. I think Starbucks lost their way a little and what we are seeing now is a correction. Most of the industry markers are showing a growth for coffee and teas, but it is becoming more segmented. People are looking for specialty drinks.
Not to highjack this, but the Starbucks problem was opening too many units too close to each other. In Dallas, you can find two Starbucks almost across the street from each other. Imagine the costs of running two stores within walking distance?
Another trend we are tracking is the move towards smaller, locally owned businesses - for some reason people are starting to move back to supporting local businesses. Without going into more than I can say, the "big boys" are noticing that the "mom's & pa's" are cutting into their business. One account I am very familar with is starting to track the flow of business to the smaller competitors - which is a first for them. I think we are at the beginning of an interesting shift in consumer thinking.
I say open your own or partner with your friend but hold onto your independence, it may be a plus.
Im quite alarmed of what Anthony and Luckiest are pointing out. It seems that the coffee business is not that hot like it was 5 years ago.
I wouldnt say that the coffee business is "dead" . Aside from a good business plan is "location". If you can find a good busy location, then you're good to go, who doesnt like coffee anyway. Everyone loves coffee.
With Starbuck's marketing initiative that I think started the coffee revolution, I would say coffee business is still a go...
I read at schmoozii.com which also talks about same "starting espresso business" that a good business plan is the vital piece to a successful business.
The business plan is a good start and I hate to pour ice water on the topic (and that's one of the services our company supplies) so I d believe and understand the need for a good working business plan but there are other things to consider:
1. Do you have enough cash (in savings - not retirement) to pay ALL your personal expenses for the first 12-18 months after opening your business.
2. Do you want to consider looking into franchise opportunities - They can be very expensive and require a great deal of foundational time and a business plan is a must and that's not even the beginning but with franchises you stand a better chance of success.
3. Do you have friends/others (with money that they could possibly lose) that believe in you dream, view, and abilities.
4. In retail location in a biggie, can you find a location that has sufficient foot traffic i.e. big super market chains, established business areas, is their a large breakfast/lunch customer potential because those will be your two best times of day.
5. Can you pick the brain of your friend that has the same type of business? I would keep him/her talking anywhere from 3-6months about their experiences both good and bad.
6. Then after you've picked their brain - consider enlisting them in your venture. It may or may not be a good idea.
7. Then after you've done that contact me for the next step!!!
To ride on the Starbucks dialogue, if you're now thinking that coffee may not be the wisest choice now have you ever thought about a tea stand?
Hey that's a good perfect idea.. a "tea stand". People are fond of teas nowadays because of the health benefits that it gives.
The coffee business and Starbucks are both going strong. Starbucks is not going out of business, they are simply regrouping and reconfiguring in light of the economic downturn.
The question that remains to be answered is not whether people will still frequent neighborhood coffee shops, because they will, but whether they'll pay $5.00 for a cup of Joe. More and more coffee die-hards have been pushed toward Dunkin Donuts where you can still get a cup without need of a mortgage. However, Dunkin's format isn't conducive to the meeting-place atmosphere of a Starbucks. If you can somehow bridge the two profiles, that is come up with a great atmosphere but reasonably priced coffee, you might be the next Starbucks.
Best of Luck.
Starting your own coffee business will be a good idea as you have been working for years making specialty drinks fro friends and neighbors. But starting a business would require business plan and doing a lot of research. We would definitely help you developing business plan and doing market research for you but it cost you minimum.
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I'd like to share an article with you about opening up a coffee business. This article gives great help, tips, and tricks to get you on your way.
Hope this helps.
All the best!
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I want to start my own coffee business for a long while now. From Seattle, living in Pittsburgh. Have been making specialty drinks for friends and neighbors for years. It has always been a dream of mine to have my own place. I have a friend who has 3 espresso stands and 1 coffee shop and he's doing fantastic. I need some self confidence and any ideas from other coffee lovers. Is it easy to get a small business loan?