Coffee and tea are the two most consumed drinks in the world. Whether you love them or hate them, these two drinks make the world spin. And while tea is predominantly consumed in Asian countries (and some African), coffee is the drink of choice for Western cultures. Amidst Starbucks and other amazing coffee franchises and the money that they make, you may ask yourself: How to start your own coffee business abroad?
Why Open a Coffee Shop Abroad?
First things first: running a coffee business abroad is not as difficult as it sounds. There are obstacles to be overcome, but many businesses still expand internationally for several reasons. Lower taxes and cheaper labor are only some of them. Furthermore, an undifferentiated market is always a lucrative business, but it promises a big return. The Balkan countries, for example, have a very strong coffee presence in their daily lives. However, there is only one Starbucks in Serbia, for example. Opening a coffee business there is a great opportunity.
How to Start a Coffee Shop Abroad?
Now that we know why, the question is how to open a coffee shop abroad. You will need to arm yourself with strong and capable people and have a good business plan. Your plan should let you:
- Decide on the country where you want to work,
- Find a good translation service,
- Find a loan for your startup,
- Find an international solicitor to help you with the legal aspect of running a foreign business,
- Visit the location, to ensure the works are done the way they are supposed to be, and
- Set up a good local management team.
Decide on the Country
Deciding on the country is an integral part of making your coffee startup business plan. This means knowing the market and the habits of people living there. It also means knowing their purchase power and what kinds of coffee (yes!) they like to consume. Opening an espresso bar in Italy, for example, is a bad idea, because there are just too many already.
Find an International Solicitor
Finding an international solicitor or at least a business advisor can be a pain in the neck. And while you may want to spend a considerable time looking for one, you should also be able to check out Internet reviews. The odds are, you’re not the first person opening an international business in that country.
Find a Good Translation Service
In opening an international business, you will need to communicate with many foreigners. Although a vast majority of them speaks English, you will still need to translate documents and official statements. TheWordPoint is a great service that enables you to quickly and accurately translate a variety of document types. All translations are proofread as well so that you can be sure that your translations say exactly what they need to say.
Set up a Local Management Team
Managing a business internationally can be really overwhelming. The thing to do to avoid any issues is to hire a local management team. The team should be able to run the business and report in predetermined intervals, such as once a month or biweekly. Make sure to spend enough time looking for management, as they have to trickle down all your ideas to precise steps to ensure long-term success.
Running an international business is not very difficult. You will need good organizational skills, knowing both your product and target consumers, and good legal support on the way to your international dreams. Always ensure that you know what you are doing and rely on a team of people, not just yourself when starting a coffee business abroad.