At a time of struggling retail, few sectors have had as much success as the coffee industry. According to The British Coffee Association, people in the UK now drink 95 million cups of coffee per day! Meanwhile, research figures from Allegra World Coffee Portal show that the UK coffee shop market expanded by 7.9% in 2018, representing two decades of consecutive growth.
Coffee shops continue to fill British high streets with seemingly no sign of slowing down. But what is it that makes these places such an exciting option for entrepreneurs? We take a look at just some of the reasons why people are turning towards the business of coffee shops.
A Growing Industry
As mentioned above, the coffee industry as a whole is growing at an excellent rate. According to Allegra, the UK coffee shop market is now worth over £10 billion, with over 25,000 outlets now in business. The growth of the coffee shop industry can be felt in every high street, as retail places are replaced with food outlets that attract a vast clientele. At a time when traditional retail is on the decline, opening a coffee shop presents a viable business option for those wishing to make money on the high street.
Room for Individuality
Take a walk down any British high street, and it will look markedly different from what it did a decade ago. The growth of the coffee industry, and food in general, has added a new colour and atmosphere to these classic locations. However, with added competition comes an increased need to individualise to attract customers.
One of the biggest draws of opening a coffee shop is the incredible scope for individuality it provides. From the product to the store’s ambience and your own values, everything can be adapted and tuned to provide a unique location for consumers that reflects your image.
The Heart of the Community
The digitisation of modern life has not only had an impact on the high street but our behaviour in general. As more of our daily activities move online, the number of public locations for people to interact is reducing. In the modern world, coffee shops play a vital role in providing places of commune for a wide range of individuals.
Coffee shops are becoming popular places for clubs and groups to meet. Whether it’s a local book club, a school reunion or a meeting point before a music gig, coffee shops provide a bright alternative to outdated bars. At a time when work culture is also transforming, these vibrant locations offer the perfect place for business on-the-go. Self-employed people working online can use these locations to work outside of the home, while coffee shops are also the ideal place for client meetings. These examples show not only the huge and growing customer base for coffee shops but also the incredible variety of people that can be targeted.
A Sustainable Business Choice
More than ever, customers are looking to make environmentally conscious decisions when it comes to their business interactions. The same effect is being increasingly felt by new business owners, who wish to make not only money but also a positive impact in their local community and the wider world through their actions and messages.
Coffee shops have not only become places for communities to gather, but they are also places with a positive record of supporting modern, sustainable business practices. From renewable energy to sustainable ingredients, coffee shops can be genuine forces for good that appeal to a growing audience.
Coffee shops are becoming an increasingly popular option for people looking to set up their own business. However, in a competitive landscape, setting up an independent shop can be challenging. A coffee franchise presents a more viable option for people looking to take advantage of this upward business trend, providing the buying power necessary to compete with the major chains.