Coffee shops are doing good business nowadays. People are always on the go that they need a good supply of caffeine in their system. Straight from their pad, they go to coffee shops for a hot java to jumpstart their day or maybe even a quick bite. Let’s discuss how to start a personal licence shop business.
First off, think of a business plan, part of which includes a goal, a feasibility study, and the step-by-step plan for achieving the goal.
Next, you have to think about the financing for the business. Maybe you have thought of getting a loan from a bank. Consider your accounts payable, will the profit you get from the business be enough to pay your loan? Short term accounts payable will last for one operation cycle of the business, that means about a year of operation. Then there are accounts payable in long term which should take more than 12 months.
Next, you have to scout for a good location. Now, this would depend on your intended clients. If you are eying for college students, then your location should be near a university, if not located within the campus itself. If you are eying for office workers, then conveniently locate your coffee shop in a strategic place surrounded by different offices. Sometimes, you don’t have to be next door to an office itself but a strategic location would be right in the traffic of pedestrians. A good example would be between a city hall and a subway station.
Next, you think of the furniture you need for this type of business. There are good business deals on table and chair sets from furniture shops. You don’t have to purchase your furniture with outright cash. It would be good to start a good business relation with a furniture shop as you would also have some accounts payable with them. You should already have a good idea for the type of furnishing that you are going to use. You can have the traditional wooden furniture or you can go for the commercial plastic furniture. I suggest you employ the services of an architect or an interior designer. I always believe that the best work can always be expected from professionals.