According to the National Coffee Association (NCA), around 62% of Americans drink coffee on a daily basis. This is more than half the population. Considering the demand for coffee, starting a coffee franchise can be one of the most successful businesses that you can go for.
There are a plethora of benefits of owning a franchise. You’ll have a long chain of loyal customers already, you won’t have to scratch and claw in the beginning and more.
While it is a heavy investment but it is totally worth it. Here are 5 reasons to buy a coffee franchise:
- Higher Success Rate
When it comes to starting a business, a lot of entrepreneurs think of starting an independent one. This might not be a wise choice if you lack experience because more than 70% independent business fail within five years of time.
In contrast to that, buying a franchise of a successful coffee business will have a much higher success rate because it is already established. This can help you start making impressive sales right away and make a good profit.
- No Struggle In The Beginning
An independent coffee business will require you to have a business plan, invest wisely, prepare good strategies, etc. This asks for a lot of struggle in the beginning and it might be possible to receive no profit in the first few months.
However, this is not the case with a franchise coffee business because you won’t have to struggle in the beginning. You get to carry on with an already established coffee business that has a long line of customers.
You can start selling right away and laugh all the way to the bank.
- Reduces Marketing Budget
When you buy a coffee franchise of a well-known brand, you won’t have to spend a lot of money to market the business just to create awareness of your newly opened business.
Instead, you’ll already be welcoming customers as soon as you open the doors to your coffee shop. However, this largely depends on how popular the store is.
- No Business Model Required
It is essential to come up with a solid business model when you open an independent business but not in the franchise business.
You won’t have to create your own coffee flavors and come up with other products to attract customers. All you will need to do is follow the same business model that the brand practices. This involves selling the same products and services that the brand is selling.
For example, if a company deals with Afpkg, you will not have to enter into new negotiations and you can resume the same contract.
- Support From The Brand
When you decide to open a coffee franchise of a reputed brand, the biggest benefit you will receive is the support and training from the brand itself. You will be provided with the necessary guidance and support that is needed to kickstart the newly opened franchise.
The support will cover almost everything including marketing, interior design, area/region selection, site selection, etc. In short, the brand will take it upon itself to provide you with all the tools and knowledge that helped them become a brand.
Another amazing benefit that you will be receiving as a franchise owner is “free promotion”.
When the brand runs a campaign or a promotion, you will receive the exposure and benefits as well. This is how you won’t have to spend any money to promote your franchise.
All you need to do is follow the business model exactly as you are told to and try to maintain the quality standards set by the company.
The pros of opening a franchise coffee business are obvious. Consider doing so today.