Many young people dream of starting restaurants and cafes because it is such an amazing business to be a part of but many of these young people rarely ever get past the dreaming stage while another percentage of people will start the planning process but never get past it. Of the remaining ones, some do start seemingly successful restaurants or café’s but as many as eighty percent of new restaurants and cafes close down within the first six months of business which leaves us with a very small percentage of entrepreneurs and dreamers who succeed in having a successful café.
It is important that we look at these people and study their stories to find out what made them stand out and how they managed to succeed in starting and having a successful café when so many young people and entrepreneurs fail. On inspection, you will find that the difference between these few successful entrepreneurs and the rest is that they planned out their business set up plan in detail with budget plans, strong research and also business projections so they more or less knew exactly what to expect in those first few months even if it was not raving profits.
Dare to stand out from the crowd
If you look around you, you will see that there are many coffee shops out there and that if you start a coffee shop, you will have a lot of competition unless you find a way to stand out from the crowd and give your customers a reason to choose you above the rest of the competition. You could buy and serve speciality coffee in Sydney that your potential customers will not be able to find anywhere else for example or you could target a niche market that you want to target.Having a target market is very important with any business.
Unlike having a product that will appeal to the mass market and throwing a hook out in to the general public and hoping someone would catch it, targeting a particular group can bring in a lot more business. The best restaurants in the world have a specific target audience they focus on.
As an example, many young people today are switching to a dairy free diet and it is those same young people who spend a majority of their time in coffee shops finishing up their work, hosting meetings or studying. If you were to serve your coffees with almond milk instead, you will find that this whole group will start coming to your store.
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