5 Tips for Beginning a Successful Coffee Franchise
Chances are quite good that if you are beginning a coffee franchise that you have visions of successful endings and massive expansion swimming around in your dreams at night. These are good dreams to have but do not allow them to occupy your thoughts and dreams at the expense of the work at hand to grow your current coffee franchise business to the point of successful expansion and profit.
1) Study all aspects of the coffee franchise before deciding to buy. In fact, study the big picture for several different franchises before you decide to buy. What looks wonderful on the surface may look completely different upon deeper inspection. This is definitely true of businesses that you are considering as an investment. Do the numbers and pay attention to the type of support that you should expect from the franchise partner. In fact, it’s a great idea to talk to others who own coffee cafes within the franchise to see how supportive the partner company really is when it comes down to it. You might be surprised and amazed by the companies that have a tendency to leave their store owners hanging and those that are very supportive of store owners and work to help make the success mutual. Go with the companies that not only meet your criteria but also work with you to help you achieve your goals.
2) Plan to work your business. This is important at least for a little while because you never know when you’ll need to be able to work your business. Stuff happens in business and no matter how great you think your staff may be you never know when you will come across a staffing crisis. Be prepared to work your business if necessary in order to make it successful. In fact, working alongside your staff is a great way to build their confidence in you and make sure that everything is on
the up and up.
3) Put money into your business. It takes money to make money and if you are pulling all of the profit out of your business and not investing at least half (though preferably more than half) into growing and expanding your business you are doing yourself and your business a great disservice.
4) Appreciate your staff. A little appreciation goes a long way to instilling loyalty from your employees. Set goals, give awards (and praise), and build a team of staff. You will find that by doing these things you are creating a loyal staff and a great working atmosphere.
5) Serve your customers. Repeat business is the bread and butter of any retail or service industry establishment. It takes a lot of effort on someone’s behalf to get the customers to walk in the door and very little effort (or a distinct lack of effort) to insure that they will never again walk through the doors of your business.
If you make these five tips a priority in your business you should have the success you are dreaming of.