COFFEE FRANCHISE BUSINESS IN USA
Coffee has long become a familiar drink to many people, even strongly developing into a special cultural feature for many classes, regions, or places. The diversity as well as the strong development of coffee culture also offers abundant investment potential to attract many participants.
In particular, many people are interested in the coffee franchise in USA. Let’s find out! with King Coffee.
The United States of America is a potential market for franchised coffee
The coffee franchise in US market: Astounding potential but also challenging
As of 2020, the population of the whole US is close to 330 million people and continuously grows every day, not to mention the number of immigrants coming from all over the world looking for job opportunities. With the diversity of origins, ethnicities of the population, as well as geographical locations spanning many weather patterns - The taste of American people, is also richer than in many other countries in the world.
However, to talk about coffee, in particular, it can be said that in any area Americans have a preference for this attractive drink. Americans love to enjoy coffee so much that they have named a whole line of mixed coffee, Americano, as well as own many famous coffee brands around the world. At the same time, thousands of coffee brands and franchised coffee brands are still making a lot of dollars from this market every day.
Hundreds of franchised coffee brands are competing for the most successful position in the US market.
With such potential, there will always be many people who want to step into the exploitation, thereby creating competition and elimination, which is quite stressful for the newbies. Many brands, many products launched and then sunk dreadfully. But many names have appeared and stayed longer, thanks to a stronger advantage in products and services as well as a bit of luck in the best coffee franchise.
I want to start a coffee franchise business in the US, where should I begin?
In recent years, the number of Vietnamese people in the US has expanded, and retail investors with idle cash flow have also increased but do not know where to invest safely. Many people have targeted and decided to invest in coffee franchising in USA, but there are still many obstacles and difficulties in accessing information and sources, leading to not being able to do it, not knowing what to do, how, and where to start.
As an investor, you should learn and consider the most important factors as follows:
Explore and understand the franchise coffee business market at the spot you intend to launch
This factor will account for the majority of your business' success. Take some time to research the characteristics of your coffee business:
- Is the geographical location favorable? Is the population density dense or sparse? Are there any crowded public workplaces near your shop?
- How is the traffic around the area you plan to set up shop?
- What is the educational level and occupation of the majority of people in this area?
- What are the locals' and visitors’ eating, drinking, and spending habits?
- Is there anyone selling coffee around the area you plan to open or the place where you are franchising?
Whether your competitors succeed or fail, you should also list all the factors that you think have led to their current business results to learn.
To conduct the research above, you can search easily on many online media channels, but to be most accurate, you need to explore a lot, observe reality, and interact and talk with many people in the area to collect the most specific assessment.
Explore and understand the franchise coffee business market at the spot where you plan to launch your business
Draw a portrait of your target customer
After the preliminary research, you now have a lot of useful data. However, let’s summarize all the information in the form of a potential customer portrait:
- Who are they? Where are they? What are they doing?
- Why do they go to the cafe to get? Good coffee, delicious food, or because of the comfortable space, the quality of the service? What factors do they focus on the most?
- They usually go to the cafe and at what time of the day and by what means of transport?
- Do they often go to the cafe alone or with family, friends or colleagues and partners?
- How do they like and often go to cafes with service and decoration style?
- How much are they willing to pay for a service?
Depending on the area where you open the shop, there will be a few other small factors that need to be set, but if you can answer all of the above questions correctly, you are already on the road to success.
Redefine your goal of opening your coffee shop
Any job will have better results if you act with clear goals. As a business owner, of course, everyone wants everything to be well-settled - but for those who are just starting a business, you should only point out 1-2 most important goals for the cafe. Once you’ve done that, you’ll be able to confidently set another bigger goal to accomplish.
Calmly write down on one side all of the goals you want to achieve, on the other hand, what you have in hand, and the advantages and disadvantages of the business model you are aiming for. With such an overview, you will easily find great common ground to start your business.
Some goals that many people often set for your preference:
- Daily revenue
- Number of daily sales
- Top of mind about coffee shops in the area
- Create a comfortable space or satisfy the specific needs of the customer line…
- Expanding the number of shops for the franchise chain…
Every job will have better results if you act with clear goals.
Organize a clear business plan
Just like going to school with a timetable, a detailed Business Plan will be what helps you run your business smoothly, conveniently, and economically. Do not hesitate to list all of the smallest jobs, the daily revenue and expenditure expenses, and assign work to each member in the shop.
Choose a reputable franchise business partner
Better to be alone than be in an ill company, choosing a partner to do business with kindness and prestige will be a lever to help you develop strong and long-term.
Opening the coffee franchise business isn’t too difficult, but it’s not always a bed of roses - so be mentally prepared, and learn about your partner’s experience thoroughly before deciding to embark on signing or cooperating.
If you are looking for a reputable, experienced, dedicated partner with the best quality products in the US, please contact King Coffee for detailed information and support.