My boyfriend bought the coffee shop for me! 11 serious mistakes easy to make when buying a coffee shop!

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95% of coffee shop operators do not know the shocking facts of the coffee industry.

According to industry statistics, 70% of coffee shops that change hands fail in the first year.

Coffee shops change hands every two to three years on average. In the city center, competition is fierce and the cycle is shortened to 12 to 18 months.

More than 50% of the business sales you read in the newspaper are related to catering.

Now many people in 􏰀 think it's easy and tempting to run a coffee shop! What they choose is a lifestyle change, but when they really enter the industry, they find that it is actually very difficult, but also under great pressure. They began to be slowly exhausted, began to feel disappointed by the defeat of 􏰁, and often felt that they were caught in a dilemma in business. Many of them not only lost a lot of money, but also sacrificed their health and family relationships. They can't have a holiday for fear of losing their clients.

These are the 11 worst mistakes people make when they spend hundreds of thousands of yuan:

Mistake one-buy a store based on emotion!

It is a fatal mistake to think that the storefront you just found is the most perfect. Don't fall into a trap and be blinded by the layout, appearance and decoration of the store. Let alone like the food or coffee there. All of these are emotional factors.

Some buyers came and told me, "I pay the price I want because I don't want to lose this opportunity again!" Or "I see other people's offers on the table, and if I don't sign the contract at that time, I will lose the deal."I've been looking for it for six months, but I haven't found a store I like, and I'm disappointed. I bought it when I saw it was good, and now I regret my decision."

These emotional buyers often lose a lot of money or buy a coffee shop that gives them a headache or heartache. One of my store-buying principles is: forget business and be keen on trading. What you are after is a deal, not the fact that you always want to own a coffee shop. Your goal is not to find a job for yourself, but to buy a business. If the numbers can't accumulate, then learn to walk away at the right time!

Error two-overpay!

Many inexperienced restaurant buyers always pay too much for business. Soon they will find that not only are they unable to make money, but every 􏰂 is losing money. In order to accurately evaluate a coffee shop, you must use some specific formulas. Food, labour and rent must be taken into account. You need to follow these proven methods to ensure that your business will make money in the future.

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Remember: profit is in the process of purchase.

This is one of the most incomprehensible principles when buying a business. Profits occur when you buy a business, not when you finally sell it. Only when your original seller loses money will you make money when you sell the store. Keep in mind that in the process of buying and selling coffee shops, one side is bound to lose money. Your job is to make sure that you are not the one who loses money. If you give in to the seller's demands in the course of the negotiation, you will help them succeed in disguise.

I saved A $18,000 in two hours. I had been looking for a business for almost six months, and I decided to buy this store on Chapel Street in Pranhran District. The owner asked for A $130000 at that time, and I was going to pay him A $100000.

Miss Zhang, an expert consultant from the coffee shop, helped me evaluate the specific financial data and the terms of the lease, and gave me a lot of advice on the pros and cons of the business, and finally reduced the price to A $82000 in just two hours! I saved 18000 Australian dollars in two hours. I couldn't have done this without Miss Zhang's professional advice. Friends who want to buy a coffee shop should take the Coffee Shop creation course and learn how to negotiate.

. Ian, Chapel St, Prahran, Melbourne

Error 3-bid according to the seller's asking price!

Usually when you read the newspaper, you will notice two similar coffee shops for sale: one with a weekly turnover of A $7000 and an asking price of A $250000. The other company has a weekly turnover of A $7500, while the seller asks for A $128000. How do the owners of these two coffee shops determine the selling price? They do what most sellers do-- by guess.

The problem is that if you are an average buyer, you will negotiate around the asking price, not the true value of the store. So for the first coffee shop, if you put the price down to A $200000 and the seller can accept it, you will think it's a pretty good deal. It would be a big mistake if you think so! This is one of the most serious mistakes most people make when they bid. You should bid on the true value of the coffee shop, not the seller's asking price!

Error 4-I don't know how to verify the data: numbers don't lie; only sellers do-and buyers get caught up in it!

Let's take a look at this: coffee shops are a cash-based business, and 95% of coffee businessmen don't know how to reflect the numbers in writing or on the sales list. And most sellers or even brokers will try to convince you that no one can do this!

If you are preparing to buy a business, you need to know how to verify and evaluate these figures. You need to follow some specific formulas to calculate the real numbers, not the numbers that the seller is trying to make you believe!

The buyers of some coffee shops buy the shop only by guess. And when their offer is lower than the asking price and accepted, they will cheer and think they have got a good deal! And this usually costs them hundreds of thousands of Australian dollars!

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Error 5-do not understand leases; do not know good leases and bad leases 􏰃􏰃􏰃􏰃! A good lease can make you earn thousands of yuan, while a poor lease can also cost you the same money.

Most people don't know the difference between a good lease and a bad lease 􏰃. They do not understand the terms of the lease, market feedback, options and other terms of the lease. They think these are the jobs of their lawyers.

This is very risky. Unlike other industries, coffee shop leases have specific rules and requirements. If you get advice from an experienced lawyer, it will be worth it. But if your lawyer is not an experienced owner of a coffee shop (usually not), they may not be able to give you the right advice.

So don't leave the lease to your lawyer. Learn to understand the terms of the lease and use them as an advantage in negotiation.

Error six-hide the problem!

Many coffee shops for sale have hidden problems. You must figure out these problems before you buy the shop. There are more than 100 questions to consider when buying a coffee shop. You need to correctly investigate equipment, menus, traffic conditions, leases, potential health problems, employee surveys, wage issues, number of customers, determine actual food costs, wage costs, insurance policies, and other related issues.

If you are not clear about these problems before buying a store, any of these hidden problems may cause you trouble or unnecessary expenses, but if you know these problems before buying a store, then you can use them as a bargaining tool in the negotiation. The sooner you discover these problems, the more time you will have to prepare or plan strategies to prevent them from happening.

Mistake 7-No experience in running a coffee shop!

Food service is a difficult industry to manage. Most people think it's easy and tempting to run a coffee shop! What they choose is a lifestyle change, but when they really enter the industry, they find that it is actually very difficult, but also under great pressure. They began to be slowly exhausted, began to feel disappointed by the defeat of 􏰁, and often felt that they were caught in a dilemma in their business, and many of them lost a lot of money.

Lack of experience in running a coffee shop means that you need to rely heavily on your employees to make the coffee shop work properly. Many employees leave soon after they change hands in the coffee shop. Or worse, some employees take the opportunity to blackmail or threaten to leave in order to get higher wages or better terms. I saw an inexperienced coffee shop owner pay A $800,000 for a coffee shop, then most of the employees chose to leave and join the previous boss, and his business had to close within six months.

My advice is: before you buy a coffee shop, learn the skills you need and get some valuable experience. Learn everything you can learn: take a "coffee shop initiative course", "coffee professional and technical course", work part-time in a coffee shop, or do some unpaid work, or even wash dishes in the kitchen. In any case, it will at least keep you in the coffee industry and know how it works.

Error 8-lack of negotiation skills!

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Negotiation is an interesting and difficult game to deal with. Those who think most flexibly and pay the least attention to trading are usually the winners. Most people are not trained in negotiation skills and often have to pay more simply because they "really want the deal", or are afraid of losing the opportunity or falling into a trap set by sellers and agents.

I have seen many buyers of 􏰀 coffee shops fall into this tactic: "confirm these figures during the trial period, and if the trial period fails, you can withdraw from the deal." When buyers find other hidden problems during the trial, or are simply dissatisfied with the deal, they can't get out of it.

If they have learned some simple negotiation skills and exit strategies before, they can withdraw from the trade without loss.

Error 9-lack of business plan!

Like other industries, the coffee shop business requires many skills other than cooking and making coffee. You need to be a salesperson, accountant, maintenance person, marketing manager and hiring manager. All of these skills are achievable as long as you have the right attitude and stick to your business plan. Remember: the right business plan is critical to success; no matter what scope you want to run. Most people buy coffee shops without a business plan. They think they already have a great idea. They began to look for the storefront, and once they found what they liked, they began to bid, close the deal, and then became the owner of a coffee shop!

Then they begin to face all kinds of problems, such as employee resignation, customer complaints, long hours, inability to find good employees, and so on. Their spirit and financial resources are gradually exhausted, and they find themselves doing the worst jobs and receiving the lowest salaries. Then they start to resent the business, and their dissatisfaction begins to turn to employees and customers. Business began to decline, earning less and less, unable to pay rents and suppliers, working harder and longer hours. In the end, they were fed up with all this and sold the business at a loss in order to get out.

This is a common story about 70% coffee shop operators. They make up 70% of the statistics that coffee shops change hands and lose money within a year.

My question is: do you want to be part of this kind of statistics?

Mistake 10-lack of financial and spare funds!

There are many people in 􏰀 who think that once they buy a business, they can sit back and collect profits. They have no plans to reserve funds for the following situations:

-equipment failure

-sales and Marketing

-if sales fall to pay rent, wages and suppliers-their own cost of living!

So they will suffer trouble or even bankruptcy!

Error 11-look for the wrong advice!

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Most people usually ask for advice from friends, neighbors or family members who have no experience in the coffee shop business! Good friends or neighbors will tell their friends' stories about how they lose money, how hard they work, how they never have a social life, and eventually have to sell at a loss, so warn them to be very careful! You never 􏰅 stories about whose friends buy and sell coffee shops to make money! The problem is that their suggestions are one-sided.

If you want to make money from buying or running a coffee shop, should you 􏰅 the advice of those who have been successful for many times? Even better, 􏰅 takes advice from people who have helped many operators successfully buy and set up stores?

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