Coffee Franchise: Is It a Total YES or NO?
Ever think of being your own boss, gaining long-term profits, and have the potential to grow and take care of your own coffee shop business? Everything that we start from scratches could be a long-term challenge, it works the same with starting your own coffee shop from scratch. However, if you’re really passionate in the coffee industry and want to have your own coffee business, there are other options where you can eventually have and rule one without starting it from scratches. It’s called a franchise! You can skip the struggling of brand awareness and be recognised already.
Listed below are some highlights of why you need to consider coffee franchise:
The Base of Consumer’s Loyalty
A brand with a good and well-known reputation is build based on the consumer’s loyalty itself. If you want to invest and franchise a coffee shop, you won’t have to spend your budget on advertising or marketing to raise the awareness of your brand. There are definitely other options to spend your budget on and in the end, the consumer will have your coffee because of the brand name and the trademark it’s holding.
The Risk of Failure is Low
A coffee shop franchise provides a lower risk of business failure. Owning a franchise of an established reputed brand has less risk as the business concepts that have been tested were proven successful. A well-known coffee shop has the risk of failure. If you own a well-known brand with a good reputation, the risk of failure is low. The business concepts are already proven and successful. Franchises have a higher rate of success according to a recent study, and it doesn’t only work for coffee shops but other businesses as well. Franchise businesses could survive up to 80% rather than having an independent business which only has 20 up to 30 percent percentage.
A Carefully Planned Business Model
Whilst you already have loyal consumers who already know your brand, it has other benefits as well. However, even tho your brand is already recognised by a lot of people, you still need a carefully planned business model to enhance your coffee shop franchise and your business model plays an important role. You can simply skip the basic steps of the marketing business plan and choose the advanced plan for an established business.
Support and Additional Training
This is one of the tactics to enhance your franchise to take it to the next level and make it different. You can have support and additional training for the employees. You can provide guidance for the growth of your business. No matter how well-known the brand is, whether it has a good or bad reputation, the service matters and always count for the consumers. If the service is bad, they’d likely come to another coffee shops instead of yours.
The director of UniqueBrew Hospitality Pvt. Ltd, Adarsh Vijayan, stated that marketing and the entire management are dealt with by the delegated Master Franchises. Therefore, the franchises will mainly focus on developing the franchise and maintain the quality.
Franchisors could create a long-term and continuous marketing plan and sales promotion to enhance the brand presence and power. Use the social media to promote your brand without spending a single penny and you’ll see the surprising result!