How to Start a Coffee Shop with No Money?
Learn more at https://www.millforbusiness.com/start-coffee-shop-with-no-money/
People drink coffee a lot.
Coffee shops are popular businesses with thousands being started every year around the world. Globally more than 500 billion cups of coffee are consumed every year.
No doubts coffee shop is a great business idea.
But, as you may know, all businesses need at least some capital to startup, even coffee shops.
So, what to do if you have 0 capital? Can you still start a coffee shop business?
Yep. You can.
Here is how:
1. Have a detailed plan
• Starting a Coffee Shop with no money requires detailed and actionable planning.
• While coffee shops can still fail even with the best of business plans, it’s virtually guaranteed to close quickly if you do not have one
• Make sure you create a detailed business plan that accounts for the financing required and estimates how much you will make over the next six months to a year
2. Cooperative or “co-op”
• Old and proven way to open any business with little to no money
• In a cooperative, you team up with those who have the finances to invest in your coffee shop and in return, they receive a percentage of the profit
• You can work out the financial arrangements with them while you do the real work of running the coffee shop
3. Join Up with Another Business
• Coffee Shops can successfully operate in small areas
• By piggybacking on the success of another business, you can reach a new clientele that can enjoy a cup of coffee while getting what they need from the parent business
• Examples: a florist, bookstore, the break or waiting rooms
4. Find a Co-Founder with Money
• You may have unique skills or expertise that is in demand and worth more than or as much as money
• While you look for money to start a business, someone with the money in hand might actually be looking for the right person to partner with
• Channels to look for potential business partners: Internet, friends and family, your network, your network’s network, events (conferences, meetups, networking events, fairs), co-workers
5. Wait and save if nothing else works
• Try to maximize your earnings as much as possible and save for your future coffee shop
• In the meantime, start building your future business (the parts of that require no to a very small amount of money that you can comfortably afford)
• Whatever you manage to do at this stage will save you tons of hours when you actually start your business
Want to explore more methods and get even more advice?
Look no further!
We have put together all the useful information you might need on your coffee shop journey.
3. Joining Up with Another Business
4. Finding a Co-Founder with Money
5. Online Coffee Shops
7. Small Business Funding
8. “Wait and Save” Strategy
9. How to Start a Coffee Shop with No Experience?
10. What You Need to Start a Coffee Shop?
11. Average Café Turnover (Finance)
12. How Much Do Coffee Shop Owners Make?
13. Average Profit Margin for Coffee Shops
14. Average Café Turnover (Workforce)
15. How to Run a Successful Coffee Shop?
We have explained all these points in detail at https://www.millforbusiness.com/start-coffee-shop-with-no-money/