In summary, Be consistent e.g. opening times, staffing levels Good coffee Good food Good service Good atmosphere Offer discount during quiet times Shorten menu e.g. remove unprofitable items We are thinking of removing salads, chips and rice from most dishes and offering them as sides. This should reduce food waste but also make the menu look less expensive at a glance.
Thank you so much for your valuable information. I will be opening my coffee shop in a few months and your channel is really providing me with lots of great advice. Hope to hear the details of what makes a cafe profitable from you soon!
I run a business similar to Rents and bills are under 5k Labor around 15k with payroll tax Cost of good 20k And doing 70 in sales a month that leaves me with 30 gross profit
@@thermitebanana well... A coffee shoppe doing 30k a month in gross sales makes 1500 in profit.... Sounds like a waste of time to me. 250k @ 8 percent per animal works out to 1600+ per month with NO EMPLOYEES. That's easily achieved with a crappy mutual fund
Thanks for your video! Could I please just ask, what was it that you did to start understanding the financial aspects of running a business? Do you have any sort of business degree? I'm really trying to understand this side of business.
If starting out allocate a budget for a really good bookkeeper. They will also help with inventory and daily financial management and if confident you can build it into the process and manage it yourself. I prefer to keep an accountant and bookkeeper separate as they will keep an eye on each other. I have no formal financial training so expect others to offer better advice but was in a similar situation as yourself. Also tech tends to help these days
காலை வணக்கம் அழகான பதிவு வாழ்த்துக்கள் இந்தியாவில் இருந்து தமிழ் நாட்டு தோழி 🎉🎉. சார் நான் பில்டர் காபி நல்லா போடுவேன் வேலை இருந்தால் சொல்லவும் பெண் வயது 43
Probably, but that’s why the video is great. It bridges the gap between coffee and shop, subtly advising to research finance instead of roast times and might just save people from expensive mistakes. The target group would not be saved by a 60m Business Basics course, because they wouldn’t watch it in the first place.
"Improve efficiency" is great advice, but the example given is awful. Efficiency should be maximized from the very beginning, and the staff should be given all the comfort needed to quickly and effectively do their jobs. Otherwise, it’s just another way of saying, "We want you to work more under worse conditions for the same pay." For example, companies would rather pay one manager to push and exploit the staff instead of paying extra to the people actually doing the work. This type of efficiency is typical in large corporations, and while it may deliver results, it is excruciating for the employees.
all too many cafes hire a couple of sour humans. Each new person who comes in and encounters a toxic barista will vote with their feet and that is for sure but nearly impossible to tabulate. Hire people with conventional good manners. they can bring an edge,that's fine but the business is not about them.
@@bayareaartist999 EXCUSE ME!!! Not only have I worked in a Restaurant since I was 15 back in the 1969... I have also Owned a Cafe... and a Bar-B-Q stand... WHY would you be so rude and mean to say that to me?
@@bayareaartist999 The reason I said NOT FUNNY... is That person is assuming restaurant/cafe owners Have Too pay "Save Wages" (which is not a good saying these days)... and assuming they're replaced...
You're a gem waiting to be discovered. Your content is concise and helpful and it's helping me in my venture! Great job and I hope you keep going.
I'm delighted that you've made the choice to continue with your uploads. Thank you for generously sharing this wealth of knowledge with all of us!
This was exactly what i needed to hear, Its so easy to over-complicate things and not concentrate on the core of your business. Thank you!
In summary,
Be consistent e.g. opening times, staffing levels
Good coffee
Good food
Good service
Good atmosphere
Offer discount during quiet times
Shorten menu e.g. remove unprofitable items
We are thinking of removing salads, chips and rice from most dishes and offering them as sides. This should reduce food waste but also make the menu look less expensive at a glance.
Incredible quality of information and production - please do the world a favor and continue!
I needed to hear this. Thank you for sharing. You are great, clear, speak well, as well as, are calm, composed and explain well
raise sales = negotiate better cost for inventory (buy in bulk)
that's the only way to go instead of cutting cost.
Thank you so much for your valuable information. I will be opening my coffee shop in a few months and your channel is really providing me with lots of great advice. Hope to hear the details of what makes a cafe profitable from you soon!
A local coffee shop hosts regular esl events to fill out slow hours. I think a really smart move is to choose a great location in the first place.
Whats ESL events?
@@AwakenedOne. English as a second language
Another phenomenal video! Really good insights, looking forward for more from you!
Amazing content! Thank you! Definitely a huge vacuum for this type of content! These videos and this channel will be huge! All the best!
Lifesaver. Everything you said is clear and gives me hope. Thank you.
This is so good, appreciate the advice.
I run a business similar to
Rents and bills are under 5k
Labor around 15k with payroll tax
Cost of good 20k
And doing 70 in sales a month that leaves me with 30 gross profit
High cost of coffee machine
Customers traffic is only from morning till tea break at best. You don't get anymore good traffic after 3pm.
That is when you need "Tea Time" 4 pm with FOOD
My local Cafe DOES ALL THE MISTSKES AND THEN SOME
My current Cafe I go to has now new owners who are pretty much as crap as the last owners. Hi from nsw
$700,000 Turnover and you only net $15,000? Doesn't make any sense.
My local Cafe would not even make that
Great video and advice
5 percent net profit SUX you can do that in stock dividends with almost zero risk
Exactly. Trust me when I tell you, 99% of shops might as well close their doors.
5% of sales, not 5% per annum.
@@thermitebanana well... A coffee shoppe doing 30k a month in gross sales makes 1500 in profit.... Sounds like a waste of time to me. 250k @ 8 percent per animal works out to 1600+ per month with NO EMPLOYEES. That's easily achieved with a crappy mutual fund
Of course that assumes you invest 250k to build out the shop
Thanks for your video! Could I please just ask, what was it that you did to start understanding the financial aspects of running a business? Do you have any sort of business degree? I'm really trying to understand this side of business.
If starting out allocate a budget for a really good bookkeeper. They will also help with inventory and daily financial management and if confident you can build it into the process and manage it yourself. I prefer to keep an accountant and bookkeeper separate as they will keep an eye on each other.
I have no formal financial training so expect others to offer better advice but was in a similar situation as yourself. Also tech tends to help these days
Great clip bro!! 👏
awesome
Merci :)
Great Video! But do you sell a course? 🤔
Great content keep it up
I just wonder why he is not focused on repeat customers first and gaining new customers second.... Like the customer is the one paying everyone.....
காலை வணக்கம் அழகான பதிவு வாழ்த்துக்கள் இந்தியாவில் இருந்து தமிழ் நாட்டு தோழி 🎉🎉. சார் நான் பில்டர் காபி நல்லா போடுவேன் வேலை இருந்தால் சொல்லவும் பெண் வயது 43
To clarify: Net Profit is true profit after operating expenses, interest, and taxes
Truly is as basic as it gets. If this video had something to teach you about operating any business, you have a very long winding road ahead of you.
Probably, but that’s why the video is great. It bridges the gap between coffee and shop, subtly advising to research finance instead of roast times and might just save people from expensive mistakes. The target group would not be saved by a 60m Business Basics course, because they wouldn’t watch it in the first place.
The channel name is literally coffee business BASICS
What a ridiculously ignorant comment
"Improve efficiency" is great advice, but the example given is awful. Efficiency should be maximized from the very beginning, and the staff should be given all the comfort needed to quickly and effectively do their jobs. Otherwise, it’s just another way of saying, "We want you to work more under worse conditions for the same pay." For example, companies would rather pay one manager to push and exploit the staff instead of paying extra to the people actually doing the work. This type of efficiency is typical in large corporations, and while it may deliver results, it is excruciating for the employees.
Earning 700k a yeah should take home 200k easy
No not easy
all too many cafes hire a couple of sour humans. Each new person who comes in and encounters a toxic barista will vote with their feet and that is for sure but nearly impossible to tabulate. Hire people with conventional good manners. they can bring an edge,that's fine but the business is not about them.
My local cafe 2 women own n run it. They get all their stuff from aldi. I see them in there! Very disappointed. Hi from nsw
LOCATION LOCATION LOCATION and low rent...and a good pool of people you can pay slave wages to and replace once they want a raise.
NOT FUNNY
@@judichristopher4604 I guess you never worked in a restaurant. 1984-2020 here.
@@bayareaartist999
EXCUSE ME!!!
Not only have I worked in a Restaurant since I was 15 back in the 1969...
I have also Owned a Cafe... and a Bar-B-Q stand...
WHY would you be so rude and mean to say that to me?
@@bayareaartist999
The reason I said NOT FUNNY... is That person is assuming restaurant/cafe owners Have Too pay "Save Wages" (which is not a good saying these days)... and assuming they're replaced...
Know your numbers and evade taxes
Lol