A smart financial plan leads to a successful business. Learn what to expect and prepare for financially when opening a coffee shop.
Writing a coffee shop financial plan doesn’t have to be an overwhelming process. Once you have identified a few key factors and goals, with a little creativity and dedication, it basically writes itself.
While there is no set length for the financial plan of a coffee shop, keep in mind that it’s best to keep it concise and engaging while relaying as much information as possible to give potential lenders or investors confidence in your vision.
You want to accentuate the positive while acknowledging any challenges your business may encounter, and how you will address them along the way. A huge benefit of owning your business as a franchisee is the fact that a lot of the research and legwork has already been done for you.
Franchising is perfect for folks who want to enjoy the freedom of being their own boss while benefiting from the training, support and strong reputation of a nationally recognized brand. In addition to earning a solid annual income, owning a franchise means you can skip the legwork entailed in advertising, marketing, product development and quality control that you would have to manage alone as an independent coffee shop owner.
Potential investors need a lot of cash available to open a coffee shop. Startup costs can exceed $1 million for many major coffee franchises in the U.S. In addition to startup costs, franchisees have to pay ongoing monthly fees for royalties, advertising and other services that can add up to more than 10% of gross sales. But fear not — the right franchise will offer competitive pricing as well as comprehensive support for your coffee franchise cost.
Scooter’s Coffee provides prospective franchise partners with a competitive fee structure and access to partnered lending institutions to help make their dreams of owning a world-class coffee shop a reality. We offer unmatched franchise support through training, location selection and construction, marketing initiatives, product innovation and more.
To learn more about how to own your own Scooter’s Coffee, contact us.