If you want to run a coffee shop business, consider the following: Do you have a good business plan? Do you have $150,000 for construction costs and another $50,000 to pay staff salaries or other expenses? If you've had enough, continue following Fox 's tips  .

1. You must understand coffee yourself

To open a shop, first of all, you need to be knowledgeable about coffee.

First, train yourself to make coffee, tea or any other drink your shop has. Know what you are selling, learn all about coffee, from the characteristics of the plant, coffee varieties, names of farms, cup styles and commonly used brewing methods. Then, share your knowledge and passion with your employees. Because if they don't have the same passion as you, they won't be able to work with all their heart.

2. Choose a good coffee roaster

Their mission is not only to be professional, but also to be available to answer your questions via phone, email or social media at any time of the day. If you find such an employee, nurture this relationship well and pay them a fair salary.

3. Consider the location of your restaurant carefully

You need to carefully research the house you want to buy or rent to open a restaurant. Find a parking spot nearby, count the number of vehicles or people passing by each hour. You should do it at many times such as 2am, 8pm or 6:30am for many days to calculate the number of potential customers. Ask yourself if drivers want to stop for a drink before going to work? Is there a stop sign or traffic light near you? Are there many students around your area? Or does this place have enough parking?

Besides, research the surrounding shops as well. If there has been a cafe nearby that had to close, you should also research why they failed.

4. Make a list of helpers

First, you need an experienced real estate lawyer to advise on premises purchase or lease contracts. Next, find an accountant to manage your finances and an insurance specialist who is always ready to help when you have problems. With these people by your side, you can rest assured that you will sleep better every night.

5. Reasonable pricing

Pricing is a very complicated thing. Calculate how many cups of coffee you have to sell each day to break even, and how many to make a profit? How much does it cost to replace the product? How much does delivery cost? There's a pricing truth: If everyone complains about the price, it's too high. If no one complains, it's low hanging fruit. When only a few people complain, you've set the price perfectly.

But remember, valuation is a continuous process, not just a one-time event. If input costs increase, revenue must also increase. Try raising prices slightly for a few months and see if customers notice. If your products and services are excellent, they won't care if you just raised your prices. If they love you, they will want to help you succeed.

Another pricing method you should remember is according to customer perception. If you sell expensive Kona (Hawaii) coffee priced at nearly 100 USD per kilogram, you will have to provide enough information for customers to recognize its value. That is a photo of a farmer on the farm picking coffee, information that you donate profits to charity, a communication channel with customers through social networks and promotional emails about this type of coffee. If you have them all, you can safely sell them for close to $100 per kilogram.

6. Hire passionate employees

Don't hire people who only know how to sell, find employees who always smile and are truly passionate about your products and services. When opening a store, set an example for them to follow. Take good care of your employees, pay them well and find optimistic people with big dreams.

7. Understand your opponent's information clearly

Nowadays, there are many people who also open coffee shops. Think about the Blue Ocean strategy and find ways to differentiate yourself from your competitors. Research other shops within a few dozen kilometers and pay attention to newly opened shops. Every day, ask yourself "Who else is doing this type of business?". If the answer is “No”, you are on the right track.

8. Always show happiness and optimism

There is a famous saying: "You can change the world with a smile." If you always appear happy because you love the shop, the product, and the customers, you will sell more. Customers always want to buy things from happy people.

9. Have an exit plan in place

You should also have an exit plan in place as soon as you plan to open. Because maybe, after a few years, you will feel tired of working hard. Find the best employees, plan financially for best- and worst-case scenarios, and gradually delegate daily tasks to employees. When you can spend more time with family and friends, you can consider yourself a successful businessman.

                                                                                                                                                                                        Han Duc