In Sydney, there is a well-established culture of cafes for about more than four decades now. There has been a big explosion of independent cafes and boutiques that offers alternative peaceful places where people can relax, hang around and to have a good variety of best quality food.
Most of the owners in Sydney earn money on the margins during the early phase of their business but some of them also fail in just few years after the opening. The reason of failure is poor or incomplete planning.
It is important for a new business to lower the start up costs and make sure they have enough funds in reservation so that they can provide them at least six months of working capital.
Six months are hardly enough so try to have slush funding for at least 18 months.
How to start a café
When you decide to start a business in Sydney, first thing you need to consider is financial option and a research on market. For a café business, it would be good to have some reasonable experience about the concept of how the industry rolls. You should know what requirement should be considered first and what are the legal procedures.
1. Do some research about café business
A café business requires the investment of both time and money. It would be better if you spend some time on research of successful cafes. Through some research you would be able to understand what things are good for a café business and what should not be done. Research will also help you to plan how your business can grow and be different from others.
2. Design your vision
After a thorough research, you need to design and create a list of things that you want to achieve through your café. Design an atmosphere that you want. Start to make a collection of photos of design ideas, menus and environment.
You should know that what kind of food should be served in your café and what are the customers requirements. Make a good choice of furniture, crockery and décor.
3. Create a detailed plan for business
Your business plan should have a summary of your business aims and goals and the future planning. There should be a good analysis of local market which includes who are the regular customers of your café and who are the competitors. It should have some financial projections such as how much is the projected profit and loss and what is the cash flow.
Choose a best location for your café that have some appealing view.
5. Commercial equipment
You should invest a big amount on the good commercial equipment which includes expresso machine, refrigerator, blender, toaster and much more. For this purpose, you can even have some loan.
6. Market your café or buy one from Business Brokers Sydney
Try to have some good social network as big as you can. Make sure to have some accounts on social media platform and to list yourself in google maps.