Ever thought about starting your own coffee shop one day? Well, here are some steps to follow that were highlighted at the recent Coffee Workshop.
These are seven (7) steps to follow according toĀ Coffee Industry Corporation Ltd overseas representative, Mick Wheeler.Ā Ā
1. Understand Why You Want to Start a Coffee Shop
The first step is clarity. Why do you want to get into the business of running a coffee shop? Passion alone isnāt enoughāyour motivation should align with realistic goals and expectations.
2. Know the Challenges Involved
Wheeler emphasized that running a coffee shop is not as easy as it may seem. It requires beingĀ ruthless, disciplined, and focused qualitiesĀ not everyone realizes are vital when starting out.
3. Choose the Right Location
āLocation is one of the most important elements to determine whether you are going to beĀ a success or not,ā Wheeler stated. A poor location can ruinĀ even a great concept, while a strategic spot can attract consistent customers.
4. Explore Different Entry Points
You donāt have to open a full-fledged cafĆ© right away. You can enter the market at various levelsāfrom a small street vendor to a high-end coffee lounge. Each comes with different risks and needs.
5. Know the Risks and Pitfalls
The workshop aimed to prepare participants for the real risksāfinancial, operational, and market-based. Common pitfalls include poor planning, inadequate budgeting, and underestimating daily operational demands.
6. Track Your Money Daily
Wheeler stressed the importance of daily trackingāhow much money you make, how much you donāt, and which products sell best. This helps manage costs and understand profitability.
7. Plan Your Finances and Your Marketing
Participants were encouraged to think through how they would fund their business, manage cash flow, and market their coffee shop. Without a clear financial and promotional plan, even high-quality coffee may be overlooked.
The International Coffee Organization study conducted in 2022 and 2023, noted that domestic coffee consumption in PNG is on the rise, especially among the middle class. This signals opportunity for local entrepreneurs who understand both product quality and consumer needs.