Facts are facts.
If you’re going to go into the cafe industry with your eyes wide open, you need to face a few industry facts. Unfortunately, one of those facts is that statistics on cafe success are kind of bleak, with up to 70% of cafes failing in their first year and leases changing ownership in as little as 11 months. Nobody enjoys scare tactics; that’s not what we’re trying to do here, but the reality is that unless you have a strong understanding of the numbers combined with solid business modelling skills and operational acumen, your chances of success as a business owner in the hospitality and cafe industry are somewhat limited.
How much profit do you need to call yourself a success?
We don’t assume that all cafe owners aspire to be millionaires, nor do we assume that they run their businesses solely for enjoyment. We understand that success might mean different things to different people. Hence, we ask all our clients what profit level qualifies as success for them. Before cafe profitability is addressed, you and your coach must understand your individual fundamental profit objectives. In essence, your coach learns where you are now, where you want to go next, why you want to go there, and how you intend to get there.
A clear understanding translates into a clear plan.
We’ve worked with loads of businesses and have a proven track record of helping all sorts of clients to realise their goals. We bring out the best in our clients, not only because we’re hospitality experts with high levels of coaching acumen, but because we listen to our clients.
Whatever goals you have, whatever success looks like to you, we’ll help you formulate a clear plan to get there. We’ll work closely with you to ensure we completely understand your goals before developing a personalised road map to help you set and smash your financial targets. If you believe you could benefit from assistance with the numbers, please go ahead and book a Profitability session.
There will never be a perfect time.
If you catch yourself saying things like “I don’t have the time” or “I’ve got the numbers in my head”, then it’s time to hit the brakes. There will never be a perfect time to crunch the numbers and understand the figures, but we can guarantee that success or failure isn’t going to wait for you to find the perfect moment to become fully clued up. Now is always the perfect time for success, so now is also the perfect time to crunch the numbers and put a solid plan in place to make that success a reality.
If you procrastinate or think you can wing it, there’s a good chance you’ll become one of the statistics we discussed earlier. But you don’t have to battle alone; if you don’t fully understand the figures (no matter how big or small they may be), get in touch with us and we’ll help you gain clarity.
We’re here to champion you, guide you, plan with you and walk beside you for as long as you need.
