The Perfect Blend: Starting a Coffee Business
Business Overview:
Starting a coffee business can be an especially rewarding venture for those who have a passion for coffee and who are interested in the import trade. A business idea like this requires some knowledge of how the import industry works, and you’ll also want to have a solid coffee business plan. For example, when you start a coffee business, you will need to decide who you’ll buy your coffee from, how you’ll market your coffee and where and for how much you’ll sell it. Will you have a bricks-and-mortar storefront or will you sell entirely online, or perhaps a combination of the two? Note that a coffee business like this is not typically a coffee shop, but a business that sells a variety of coffee not likely found on your grocery store shelves. To that end, you’ll want to determine how to start a coffee business that can compete with what’s available already—will you cater to a niche market or will you offer deeply discounted merchandise? Perhaps you will only sell coffee that is fair trade or organic, thereby offering a product you can truly feel proud of. However you decide to go about it, you can count on your coffee business to keep you in the black—in good economic times or in bad, a good many people cannot imagine a day without their trusty cup of Joe.
A Day in the Life of a Coffee Business Owner:
A typical day in this business will depend heavily on how you sell your coffee. Since this is a great online business idea, your store could be exclusively online, in which case you will need to spend a good deal of time maintaining your website (or paying someone else to do it) and shipping your products to customers in a timely fashion. If you’ve got a storefront, you will have to man the store during business hours (or again pay someone to do it) and in both cases, you will need to keep up with your suppliers and sustain your inventory. You will also have to decide how you will find your customers—will you need an advertising plan or will you rely on word-of-mouth? At the end of the day, a quick review of your business finances will help you make future decisions for your business.
About Your Customers:
Your customers will likely be true coffee aficionados who do not want the usual Maxwell House or Folgers to start their day. They may be seeking truly unique or exotic blends, or they may want to know that their beans aided the less affluent people who picked them. They will expect you (and your employees) to be highly knowledgeable about where the coffee came from, what taste they should expect from the beans, and what is happening in the coffee industry as a whole.
What You Need to Start:
- A business license, permit, and insurance (especially if you have a storefront business)
- A supplier or suppliers for your coffee beans
- A high-end coffee grinder if you plan on selling both whole bean and freshly ground coffee
- A storefront or website for your business (or both)
- Employees, if desired
- Pricing for your products
- Sales receipts for your customers
- Financial-tracking software
The Good:
- This business can turn your passion for coffee into a lucrative enterprise.
- You can become the local or web-based expert on coffee.
- You can start small, offering only a few choices of coffee and then decide how large you want your business to be.
- If you operate online only, you can operate your business in your spare time—nights, weekends, etc.—and still keep your day job.
- If you’re careful about where you buy your coffee beans from, your business can help sustain sound agricultural practices and support indigenous lifestyles in the countries your coffee comes from.
The Bad:
- You’ll have to prove yourself as a reputable supplier of quality coffee; prior to that, you’ll be competing with the bigger name coffee shops and suppliers.
- If you operate online, you’ll have to store your coffee properly before it’s sold, and this could take up a fair amount of space.
Resources:
- National Coffee Association
- Specialty Coffee Association of America
- International Coffee Organization
- Wikipedia on the Economics of Coffee
About The Author
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