Open My Own Coffee Shop? Skills For Entrepreneurs

Before deciding to open your own coffee shop, take an personal skill inventory to consider if you cover these three bases before going into the business.

Good Taste

When going into the coffee shop business, it is important to have good personal taste regarding food and drinks. Without it, you will either make bad product decisions or rely heavily on others to make product decisions for you. This is not the end of the world, but does require that you trust not only the ability of your partners or employees, but that they are putting your interests first.

If you know you are lacking in the area of taste, you can take a course in coffee appreciation or work on your own to learn the many different tastes of coffee, tea, and other beverages available. Developing the ability to compare the tastes of drinks made by your potential competitors will improve your chances of competing successfully once you open.

Customer Service Experience

Having customer service skill is another key ability for a coffee shop owner. If you don't have this skill, you run the risk of building your coffee shop around its products, its decor, or a gimmick and forgetting that your business must live and die by its service. With personal experience in a sales or customer service role, you will find it much easier to train your employees to serve customers in the way you want them served, and to understand the type of strategic decisions your employees will have to make that impact customer service while they work the counter.

Financial Understanding

If you lack understanding of the basic financials of the business, you will be dependent on a partner or employee who has it. At best, this can limit the profits that you can see because of the need to compensate this person for bringing this skill to the table. At worst, it can lead to financial decisions which are not in your personal best interest.

If you feel you are in this category, find the time to take some beginning accounting classes, including financial and cost accounting. Local organizations and continuing education programs at colleges may offer these. Learn how to at least read financial statements and how the basic cost and revenue drivers of the coffee shop business can mean the difference between profit and loss. Know what you have to offer investors so that, even if it is your financial wiz partner presenting the deal, you know what you are getting into.