With the job scarcity on the rise, more South Africans are pursuing entrepreneurial opportunities as a means to earning income. Starting your own business not only gives you financial independence, but it also allows you to create much-needed job opportunities. With South Africa’s coffee culture growing at an exponential rate, aspiring entrepreneurs should capitalise on this opportunity! However, before breaking into the industry, you might want to consider these few tips:
- Create a solid business plan; This plan provides a detailed description of what your business is, how it will be profitable and what your plans are for the future of the business. It also describes your customer base and explores your competitors. It should be concise and brief. One page is the suggested length.
- Find the right location for your business; It is best to find an area that is centrally located and where people already gather. This must be a space that is advantageous to your vision of the business.
- Rock-hard floor plan; Look for an area that is spacious and will allow customers to form a line while waiting to order. The seating area should also be comfortable.
- Have an accountant; It helps to have a numbers expert on the team and it also saves you as the owner valuable time which would have been spent away from the business.
- Network, network, network; It is one thing to be located in a good area and to brew decent coffee, but networking helps with building and maintaining relationships and attracting new customers. Make sure you are visible in your community!
With two decades of experience in servicing the hospitality and coffee industry, I have seen small business transform into big business! A big part of these tips has also played a great role in the growth and success of my own business CoffeeQuip; your premium coffee support partner!
Another helpful tip is to frequently do research and educate yourself about the market and its ever-changing trends. Having access to this kind of information helps with making informed business decisions.
Finally, be patient with yourself and your business, success is a process and does not come overnight!