Thinking about opening a coffee service business? We tell you what you need to know to get started.
(article continues below)
Elements of a Coffee Service Company Business Plan
Every business plan is unique. Yet good business plans universally hit on sound business plan elements:
- Mission Statement – Your description of your coffee service business's reason for existing.
- Goals & Objectives – A list of mile markers on your coffee service business's road to success.
- Financial, Marketing & Action Plans – Specific plans that describe your business environment, demographic targets and quantitative estimates.
Check Out Competitors
Prior to opening a coffee service business in your area, it's a good idea to see what the competition looks like. Use the link below to generate a list of competitors near you. Complete the form by entering your city, state and zip code to get a list of coffee service businesses that are close by.
Is the established competition doing a good job? It's important to understand their strengths and weaknesses and think through how you'll stake up against those established businesses.
Learn from Others Who Are Already In This Space
After you've evaluated your local competitors, the next step is to have a conversation with someone who is in the business. If you think owners of nearby coffee service businesses will give you advice, think again. What's in it for them?
Thankfully, an owner of a a coffee service business in a location that is not competitive to you may be more than happy to give you a few tips, given that you don't compete with them in their area. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
The key question new becomes: how to find a coffee service business founder that lives outside of your area?
We can help. Follow the link below, try a few city/state combos or zipcodes, and then start calling!
Three Arguments for Buying a Coffee Service Business
For years, street-smart entrepreneurs have known that whenever possible, it's more advantageous to buy an existing coffee service business than it is to start one from scratch.
You'll want to conduct a comprehensive due diligence process, but here are three arguments why you should think about buying instead of a startup.
- Initial Revenue. With a business purchase, you'll have the ability to buy a company that is already operating in the black.
- Operational Efficiency. When you're shopping for a coffee service business, be sure to look for ones that have all of the necessary processes and systems to ensure seamless operations from your first day of ownership.
- Capital Acquisition. In general, it's easier to finance an existing business than it is to fund a startup. While a startup only exists on paper (initially), established businesses have the benefit of historical earnings statements and tangible assets.
Consider Buying a Franchise
Startup small business owners sometimes lack the experience and resources to make a go of it in a competitive business environment. Savvy entrepreneurs know that a franchise startup can enter the market as a highly visible alternative to entrenched competitors.
Our coffee franchise directory contains information about some of the best coffee service business franchisors in the nation and gives you the ability to identify the one that is right for you.
These additional resources regarding starting a business may be of interest to you.
If you came here to learn about selling to coffee service businesses, you're in the wrong place. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.