Coffee shops are on the rise across the U.S., which has led to a growing coffee franchise list consisting of a wide range of options for interested individuals to invest in.
And in light of the immense popularity that coffee has among Americans and across the globe, it is unsurprising, to say the least.
Even though investing in a coffee shop franchise or any franchise for that matter comes with its own set of risks - when it comes to a coffee shop, taking the risk could be more than worth it if you consider the benefits of owning a coffee shop franchise.
Keeping that in mind, here are 9 incredible advantages of owning a coffee shop franchise that should be enough to convince you that now is the best time to invest in an ambitious, trustworthy & top-notch coffee franchise that will guide you and provide you with all the required ingredients for building a successful and thriving coffee shop.
Coffee drinking is a big part of American food culture and the latest survey by the NCA (National Coffee Association) further attests to that, with the findings of the survey revealing that sixty-four percent of Americans age 18 or over drink a minimum of a cup of coffee daily.
This is a slight increase from the already-substantial 62 percent in 2017.
Considering that coffee has essentially become a daily requirement for the majority of Americans, getting customers to visit your coffee shop should not be an area of concern.
So when you consider the various types of franchise opportunities that are available in the U.S. market, coffee is one of the few commodities with built-in traffic.
A coffee shop provides you with multiple avenues to earn money other than just through the sale of coffee. Customers frequent coffee shops looking for (hot and iced) teas, sandwiches, baked goods, and other food offerings as well. In addition, getting your first meal of the day at a coffee shop has become more popular for Americans.
Even though coffee is the main focus and the center of attraction among customers, coffee shops usually have all the conventional food items that are a part of the coffee experience such as croissants, cookies, muffins, and more arranged alongside the point of sale.
This greatly enhances the likelihood of every customer buying at least a single food item other than coffee, which goes a long way in increasing average tickets, to help ensure the success of the coffee shop.
As far as coffee is concerned, it is more than just a beverage that people look for when they are feeling hungry or thirsty.
There can be a number of reasons why people drink coffee - it can be anything from getting their daily caffeine fix, just relaxing, reducing stress, catching up with friends, etc.
Even though you should be aiming for a high traffic location for your coffee shop or any shop for that matter, this is not a make-or-break factor when it comes to the coffee business.
The reason behind this is that coffee is more of a destination for people rather than an impulse purchase, so when people feel like satisfying their urge for coffee, they usually look for the nearest coffee shop.
Therefore even a moderate-traffic location can bring in a steady customer traffic. The main thing is retaining the customer with great customer service and creating a loyal customer base.
Even though owning and operating a successful business has its own challenges and responsibilities that will require you to work tirelessly for long hours, this shouldn’t be a big deal as you will be free from the shackles of the typical 9-5 job.
Additionally, with all the things like branding, products, training, support and more provided by your franchisor, you won't have the enormous amount of workload that is synonymous with creating a new business from scratch.
Not to forget, it won't be required for you to plead before your boss for your week of annual vacation .
This isn’t to say that the work won’t be hard. Every entrepreneur has their challenges when starting any new business but you’re working on your terms and for your business. Once infrastructure is in place and a manager is able to display ownership, this is when your can pull your personal hours back!
Having the ability to create your own schedule is a privilege that being a business owner provides you with.
With your employees looking after the day-to-day and tending to customers, you won’t be required to be present all the time.
This enables you to take out and spend quality time with your loved ones, with this being particularly important if you have kids, as it allows you to be with them when they need the most.
The importance of having this freedom cannot be stressed enough, with it being a major factor in ensuring that you lead a happy and fulfilling life.
Becoming an owner of a coffee shop franchise has the potential to turn into a life-changing experience.
With such a large number of positive factors in favor of coffee shop franchise, getting your coffee shop to be successful will be much easier than starting from scratch.
Once the first store is running well, scalability has the chance to kick in. You’ll have the recipe for success with your first location and then just need to replicate that with your second location.
More importantly, the brand will gain more credibility in your region and then you can really become the dominate player in your area!
A cup of coffee is something that will never go out-of-fashion and so the stability and growth in this industry is very attractive for people looking to invest in a franchise.
Unlike many other businesses that are dependent on earning money whilst the product is in vogue, coffee is a commodity that has a rich history of consumption and it will retain its popularity for ages to come.
And if you want to consider the current status, recent trends paint a highly positive picture, with them showing a rise in the popularity of espresso-based drinks and coffee overall - thus leading to the strengthening of the already-strong retail coffee industry.
Therefore, investing in a first-rate coffee shop franchise that has a proven model will provide you all the tools required to give you a great chance at building a successful coffee shop.
For centuries past, coffee shops have played a big part in shaping communities by bringing people together and affording the space for a community to ‘be a community’.
When you invest in a coffee shop franchise, you are essentially creating a location for your neighbors to meet and socialize, thus playing a crucial part in building a strong and close-knit community.
Volunteer groups, non-profit organizations, and charity are some common ways of giving back to the community. However, owning a coffee shop (obviously not at the levels of the other three options mentioned above) does bring people together and generate a sense of community!
It is quite apparent that coffee shops can be a great resource in any community, and uplifting your community could end up being a nice byproduct of your coffee shop venture.
With the numerous advantages mentioned above, it's quite clear a coffee shop franchise is not a business built by a fad or hype - it’s stable and growing.
If you are looking to create a business that has the potential to provide you with long-lasting and transformative benefits, then investing in a coffee shop franchise is one you should definitely consider!