But, as competition is cutthroat in this growing segment of the beverage industry, it is doubly important that you choose a site that offers long-term potential for building your profit margins and staying ahead of the competition.
Choosing the Best Location
Your choice of location will depend on a number of practical considerations, including available budget and findings from your market research about potential customer profiles, demographics, local competition and traffic patterns. Other, more subjective factors, such as your “vision” and perceived image of your establishment, will also play a part in your final decision.
One of the most important (and often overlooked) factors to have in mind when selecting the ideal location for your coffee, espresso, and tea shop is the volume of foot traffic that passes by your shop. Retail coffee and tea outlets depend on impulse, “walk-in” trade for their day-to-day survival. Available flow of foot traffic should, therefore, be central to your decision about where to locate your shop. Here are a few possible sites that are likely to generate foot traffic and, thus, potential customers for your coffee, espresso, and tea shop:
• University campus
• Shopping mall
• Supermarket
• Service station
• Large office block
• Hospital or medical center
• Municipal building
• Bookstore
• Transit center
• Bus stop
• Train station
• Airport
• Busy sidewalk
• Library
• Gym or fitness center
• Concert hall
• Theater
• Art gallery
• Convention center
Before you start looking at specific sites, you will want to consider what type of operation you want.
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