<\/span><\/h3>\nLocation, location, location. Even if you have the best product in the world, no one\u2019s going to buy it if they can\u2019t find your location, or it\u2019s too much of a hassle to reach it. The most popular shops have learned how to pick the best locations for the highest traffic.<\/span><\/p>\nAre you looking to pack up and move, or do you want to throw roots down in your present location? Do the people in either location make good potential customers? You don\u2019t want to open a vegan restaurant in steak-lover central. No one\u2019s going to want what you\u2019re offering.<\/span><\/p>\nHere are four things to consider when picking a location:<\/b><\/span><\/p>\n\n- Demographics<\/span><\/li>\n
- Surrounding Businesses<\/span><\/li>\n
- Visibility<\/span><\/li>\n
- The Building Itself<\/span><\/li>\n<\/ul>\n
Demographics<\/b> – You want your coffee shop to be a desirable convenience. The best locations are near hotels, schools, colleges, and commuter routes. <\/span><\/p>\nContinental breakfasts are often lackluster. So if you\u2019re within an easy walk or ride from the hotel, then you\u2019ve already made the decision for the tenant. College students need that pick-me-up to get through tough exams and ungodly long research papers, and commuters traveling to and from work can often become regular customers if your shop is on the way.<\/span><\/p>\nSurrounding Businesses<\/b> – They can work both for and against you. It\u2019s wise to pick a location among other food-related businesses. You\u2019re right there in a location proven to sustain the food and beverage industry. However, if there are other coffee shops and such that offer similar fare, then they\u2019re also your competition.<\/span><\/p>\nPro tip: Offer something customers can\u2019t get anywhere else, be it a signature food or beverage, a quiet space, customer service no one else can match, etc. Whatever it is, make it unique and memorable.<\/i><\/span><\/p>\nVisibility<\/b> – Have you ever noticed a location that houses a new business every few years or so? There\u2019s this one business lot that company after company keeps passing through. Pick a spot where customers can easily see and find you. <\/span>Main roads, sitting close to exits or along the fringes of campuses make for some of the best visible locations.<\/span><\/p>\nThe Building Itself <\/b>– Instead of letting you fall in love with a prospective location only to find out that they don\u2019t allow food, let\u2019s equip you with prerequisites that\u2019ll simplify your search.<\/span><\/p>\nWhat to know before signing a lease:<\/b><\/span><\/p>\n\n- Food permit allowance (if you wish to sell food)<\/span><\/li>\n
- ALL the lease terms<\/span><\/li>\n
- Insurance needs<\/span><\/li>\n<\/ul>\n
When you draw up a budget, the cost of your lease is a part of it. You need to make absolutely sure your chosen location is profitable and the lease terms don\u2019t contain any nasty fiscal surprises. Make yourself an expert before you sign.<\/a><\/span><\/p>\n<\/h3>\n<\/span>Execute a powerful marketing plan.<\/b><\/span><\/span><\/h3>\nLike movie trailers build anticipation of a film\u2019s release and commercials get you pumped for one event or another, you want to start marketing well before your grand opening. The sooner you plant your business in people\u2019s conscious thoughts, the sooner they crave your cup of Joe.<\/span><\/p>\nPlaces to get the word out about your coffee shop:<\/b><\/span><\/p>\n\n- Newspapers<\/span><\/li>\n
- Local magazines<\/span><\/li>\n
- Travel centers<\/span><\/li>\n
- Social media<\/span><\/li>\n
- Postal service (mailers)<\/span><\/li>\n
- Radio stations<\/span><\/li>\n
- Sponsor local sports teams and events<\/span><\/li>\n<\/ul>\n
Offering free stuff or even a modest discount to get people in the door are good tactics. Just make sure the giveaways don\u2019t hurt your profit margin. The goal is to get people in the door, try your products and love them so much that they keep coming back.<\/span><\/p>\nBarista Magazine<\/i> conducted a survey that found out almost 70% of coffee shops spend less than $100 per month on marketing. Now, the thing is, that survey garnered only about 1,200 responses considering there are over 30,000 coffee shops in the United States alone.<\/span><\/p>\nHere\u2019s the kicker: nearly 40% of those shops don\u2019t spend any money on marketing. <\/span><\/p>\nSometimes a coffee shop\u2019s storefront draws people in. Other times–and perhaps the best marketing strategy ever–is word-of-mouth. Just like viral videos and cute cat photos, humans love to share what they enjoy, including good coffee stops.<\/span><\/p>\nOther passive marketing includes being searched on the internet and having a social media presence. Times have changed. Facebook, Instagram, Twitter and so on are valuable tools in the business world.<\/span><\/p>\n<\/p>\n