With franchise, many people are beginning to compare certain coffee franchises to McDonald’s. In fact, there are certain areas of the country where one particular coffee franchise seems to be more prevalent than the hamburger giant. If your community isn’t blessed with any sort of coffee caf, coffee house, or coffee franchise store you might seriously consider bringing one in. The reason being that coffee is considered liquid gold by many in the business. Coffee is something that people are willing to pay more for one cup than they often pay for a gallon of gasoline. If you’ve visited the pump lately I’m quite certain you can do the math there.
A coffee franchise might very well be the perfect business for many would be business owners seeking the safety of buying into a name that is well know and well loved rather than engaging in the riskier business practice of building a business and a brand name from the ground up. If you are looking for a franchise opportunity, consider carefully the gold mine that a coffee franchise can be in the coffee culture of the new millennium.
Coffee has become big business and those that are seeking a franchise business to build would do well to consider the value of owning a coffee franchise when making business plans and decision.
Franchises often make expensive partnerships though many people find them far less expensive than building a brand new business venture. There are still plenty of expenses that go into building a franchise that are often overlooked until too late. Before you even consider buying into a coffee franchise you need to sit back and take stock of your overall financial situation. Business is risky, even going the lower risk route of purchasing a franchise there is no small degree of risk involved that you will lose your investment and perhaps any collateral you had invested in your business venture.
What are you willing to use as collateral in order to secure any business loans you may need? This is an important question to ask yourself. It is best; if at all possible, not to risk your personal home or your family’s security (IRAs and 401Ks) to secure the funds needed to buy into a franchise business. That isn’t always possible however and extreme caution is urged when doing so. It is best to go into this with your eyes opened to the risk rather than wearing rose colored glasses. You run the risk of losing whatever you use to secure the funds for your business. Are you willing to accept that risk? Is your family?
One thing that coffee franchises offer that very few types of franchises have to offer is options. There are literally tons of options for the coffee franchise that simply do not exist for other franchises because of the types of businesses that many of them are. Coffee is a business that can be done in a small amount of space or it may occupy an entire store with fresh coffee, brewed coffee, and dozens of other options.
The walk in coffee shop requires a more substantial investment. The options are to offer freshly brewed coffee to guests who enter as well as a few snacks that compliment coffee and quite possibly some coffee for your customers to carry home for their brewing pleasure. These little hot spots are not as comfy cozy as most coffee bistros are coffee houses but tend to turn a nice tidy profit for those that are willing to make the investment.
There is no right or wrong way to build your coffee franchise only the method that you are most comfortable building. Decide which of these is best for you and then compare your options.
Author: Mary MasekoThis author has published 2 articles so far.