Considering owning your own franchise? Before you make the decision of what type of franchise to invest in, consider purchasing a coffee franchise. Coffee franchises have been booming in the last several years, and for good reason. As you’ll learn below, there are several reasons why having a coffee franchise can help you obtain a thriving small business.
1. Coffee is “in demand”
There’s an old saying that says if you’re going to sell something you might as well sell something that people love. It’s a proven fact that people are more willing to spend money on things that they want and desire than the things that they just need. Desire is a huge factor in sales, and there are thousands of people across the country that want coffee. Coffee is a morning staple for nearly 8 of 10 people. They feel like they can’t get their day started without their coffee, and you can be there to give it to them.
2. Coffee automatically builds loyalty.
Since people buy coffee every day or a few times per week, you automatically have the loyal following for your coffee business. Since your customers will likely make frequent trips to your coffee stands or store, they are going to become loyal to your brand of coffee very quickly. This process is increased by the sheer fact that you are buying into a franchise that already has a strong reputation and loyal followers. When you combine that with the proven business model that a coffee franchise can offer, it’s a recipe for success.
3. Franchises come with increased loyalty.
While it’s true that you can start your own coffee shop from the ground up, investing in a coffee franchise allows you to build on the existing reputation of the franchise’s brand. Remember, people are very loyal to their coffee brand! When you go with a coffee franchise opportunity, you’ll have even more loyalty from your customers to start with.
4. More exposure means more opportunity for sales.
The more your customers come in to buy coffee from you, the more chances you have to upsell them on other items. Think about how many other items are commonly paired with coffee. Coffee stands and stores often sell pastries, muffins and other treats that can be eaten along with coffee. You can do the same and offer your customers something to eat along with their beverage. You can also sell coffee accessories, like travel mugs and take home bags of coffee. Each time your customer comes by for their coffee is an opportunity to upsell them with something else. By pairing the coffee with other goods you can see increased profit margins.
5. Coffee franchises offer support and training
When you invest in a coffee franchise, you aren’t just flying blind. You’re able to go into business and build upon the track record of success that people have already had with this particular business model. The support and training that you receive from the franchise will position you for better success.