Thinking about the right type of business to put your effort and money into is most definitely not easy. For such reason, it’s always recommended to figure out what your passion is then finding ways to turn that into a career. If you’re a coffee lover yourself, opening up your own café or coffee shop is obviously one of the perfect careers you could consider.
Running a coffee shop is just as tiring as managing other businesses. But on the bright side, you get to do what you love, know more about your interest, and meet fellow coffee lovers. Plus, you have the opportunity to make a decent living out of it. Making your way to open your coffee shop or have already opened one? Here are some other important expenses you should take into account.
Repairs and maintenance
Regardless of the brand or price of your coffee machines and other equipment, you’ll eventually have to face and pay for repairs fees. For such reason, be sure you have a specific amount of money set aside for your equipment’s repairs. If that already gives you headaches, know that repairs and maintenance of your location or shop are a much bigger expense.
Apart from the usual cleaning, you’d also need to account for things like plumbing, roofing, and much more. If your coffee shop has bathrooms in it, you’d likely need to have regular septic tank pumping and plumbing maintenance to avoid leaks. You’d also want to have your HVAC checked regularly to maintain the good indoor air quality in the place.
Permits and licenses
Many new business owners typically forget permits or licenses. These are needed when you are first opening your coffee shop and when you are relocating. Depending on your case, there are several factors that you need to take into consideration. These include the zoning requirements, necessary parking, remodeling building permit, planning permit, safety requirements for expansion, development impact fees, and more.
If you’re planning for an expansion or a relocation, make sure to have a word with your architect or engineer to determine the necessary extra permit you need to get. These may include a new food handler’s license, sign permit, ADA compliance, and fire certificate.
On average, coffee shop owners spend around $75 every month on business insurance. A business owner’s policy generally includes property and liability insurance, and if you’re lucky, you can get it at a lower price. This may cover include income lost because of an unexpected closure.
Another coverage that you need to consider is the worker’s compensation insurance, which costs about $80 every month depending on your operations and state. This insurance covers the lost wages and medical fees of employees who are injured at work. If you are particularly opting for protection against lawsuits related to workplace injuries, be sure to find a good employer’s liability insurance.
Regardless if you’re opening the coffee shop or already running one for a few months, your staff’s uniforms are a crucial part of your business. It gives your shop a desirable aesthetic and vibe that professionals will serve customers. Luckily for you, uniforms don’t need to be lavish. In fact, most coffee shops opt for all-black or black and white uniforms for their people. If you’re aiming for a more casual look, you can go with denim and choose from various café aprons. Don’t be like new coffee shop owners who will take their staff’s uniforms into account at the last minute.
Hiring new staff
This hidden expense is particularly crucial if you’re expanding your shop and you’ll need extra staff to keep the operation efficient. In case the expansion takes place in a new location, you’d have to hire a new manager too. Keep in mind that aside from the hiring, training, or job advertisement costs, you’d also need to plan for the new employees’ benefits. In addition to that, remember that managing employees in multiple shops can also be a tedious task, so be sure you also have the extra ability to make it work smoothly.
Operating a coffee shop may be tedious and comes with tons of frustrating expenses. But if your passion is on making and drinking good coffee, this business could set you up for fruitful success. You get to be a professional in your passion while earning money to make a living. Now, how cool is that!