How to Open a Coffee Shop
Running a cafe is not just about making that perfect cup of coffee, and certainly doesn’t end at decorating the space with the latest interior design. In Hong Kong, opening your own cafe has become a trend and a goal for many. To survive in this competitive market, you must have a detailed business plan and prepare for the worst.
Allocating Funds with the 60-30-10 Rule
Before starting your own cafe, it’s crucial to work out the concept and apply for related licences depending on the services you are providing. After having a rough idea, you can follow the 60-30-10 rule to allocate your funds: 60% for the cost of opening the shop, 30% for operating expenses, 10% as contingency funds. Writing the business plan according to this rule could help ensure a reasonable allocation of your budget which would be necessary to meet the actual operational needs.
Building Relationships with Customers in Real Life and through Digital Marketing
Apart from designing and furnishing the shop based on your budget, it’s crucial to monitor the actual income and expenses and get feedback from your customers once you start running your own shop. To reach more potential clients, invest in digital marketing, which is an effective way of turning them into your own regulars.
Professional Consultation for Coffee Business
Cafes are known as one of the most challenging business types in the food and beverage industry. With Lassana’s first-hand experience, we are happy to provide you with professional consultation service, helping you to perfect your business plan and thrive in this unstable market.
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