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Good morning
I am joining this forum from Sidney, BC. I released from Reg F RCN in July 2022. I will be opening a small coffee shop. I have a finance/accounting background. I have been the following people: Cashier, Administrative Support, Office examination officer (CRA), Income Tax audit officer, GST audit officer, Softwood Lumber audit officer, BCR reservist, Calgary Highlanders reservist, Reg F RCN, Siding washer, order picker, Treaty Office Administrator, Records Management Clerk with a FN close to Fernie, BC and a retiree.
I want to develop a business plan. I will be a new self-employed person.
Burning question: Whats the maximum you would pay for a coffee?
What item should never make it into a coffee shop, either for sale or as a decor item.I look forward to working with everyone and learning
Sheryl Banres
If you can sell somewhere between the McDonald’s $1 coffee and Starbucks insanely expensive “niche” coffee – that would be a profittable sweetspot. The issue is the compromise between affordability and quality. I’m sure you’ll be spending sometime researching this key question. Good luck finding your secret formula.
Hi Sheryl,
I love your questions! Like most business questions, the answer is ‘it depends’. You’ll need a vision for who you are wanting serve and what their preferences are. For example, I’m someone who will travel outside of my community for a great cup of coffee and I’m willing to pay more for something locally roasted and high quality. But I only drink one coffee per day. Others might go for volume and become more price-conscious. Some people want to grab and go, others want a great atmosphere to hang out in.
What item should never make it into a coffee shop? A TV!
Erin.
Sheryl,
There is a hoping coffee shop in High River that sells fancy coffees, fancy teas, other fancy drinks and a variety of foods. They are packed from 7 am to 6 pm daily.
They are decorated with local art for sale, so the walls are ever changing. Check them out – https://www.colossiscoffeehouse.com/
Consider that when you are researching/visiting other coffee shops, you are doing market research and your coffee and travel could be a business expense.
Judy
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