Selling Your Coffee Shop?
Although coffee shops were once thought of as just a niche establishment, they have widely been recognized as an essential staple to the restaurant industry. They, too, have been feeling the effects of the restaurant recession that began in 2008, and now COVID-related restrictions are making it even harder to accommodate diners, maintain food and beverage supplies and even staff the coffee shop appropriately. Coffee shops are often owner-operated, meaning the recent downturn and restrictions have been claiming even more of the owner’s time and money. The unfortunate truth is that in addition to over 110,000 restaurants that closed last year, it is expected that the US will lose an additional 190,000 restaurants prior to the end of 2021. Selling your coffee shop can be an overwhelming thought, with all of the paperwork and notifications along with the liquidation of assets. WBAR has decades of experience in the industry and is ready to put their extensive market research to work. We’ll give you a fair valuation for your coffee shop and pay you CASH, NOW. While you begin notifying suppliers, employees and customers, WBAR will get to work dismantling and efficiently removing all of the assets from your current location so you can return the property to the manager or owner. Want a FREE valuation for your coffee shop? Call our experts now. We’ll get some info, pics and help you gather a general list of assets included with the coffee shop, included but not limited to: Refrigeration (Milk cooler, Freezer, Refrigerator, Walk-in, Reach-in) Cooking Equipment (Convection Oven, Fryer, Warming Station, Microwave) If Indoor / Outdoor Dining Offered, Chairs, Tables, etc Countertop and Small Appliances (Grinder, Brewer, Mixer, Slicer) Order-taking System, Any Sound, Camera or Light Systems Dishes, Pans, Cups, Miscellaneous ToGo Supplies Any Other Non-Permanent Assets in the Property After reviewing the information you will receive a FREE cash offer with NO obligation. Once the offer is accepted our team will immediately begin scheduling your extraction using qualified labor and proper tools and transportation. Still owe on your equipment? Leases? Multiple owners? Franchise agreements? Outstanding debt? IT DOESN’T MATTER. We can help. CALL NOW!! We Know the Coffee Shop Business When opening a new coffee shop, first consider local trends for beverage and dining choices. Most folks expect a coffee shop to offer not only fresh brew, but fresh ground with bean grinders. Frappes and smoothies are popular, and baked goods like scones, donuts, panini sandwiches, cake pops and oatmeal are often expected. Many use the popular food delivery services like Uber Eats, GrubHub, Postmates or DoorDash in lieu of staffing a dedicated employee specifically for deliveries. Use fresh, local flavors and ingredients, and consider a kid’s menu as well. Providing a separate menu for customers with food allergies such as wheat, nuts, gluten, eggs, dairy, soy, etc can be beneficial. Opening early is key in the coffee shop business, and expecting a large amount of traffic during lunch can help you prepare for rush times. The average cost to open a coffee shop in the US is $275,000.00. When opening a brand new coffee shop you should expect a lull of at least 12 months before seeing a profit, possibly longer with issues related to labor, food and beverage suppliers and even lease terms with the property owner. The majority of coffee shop owners will have to consider keeping their previous job while waiting for this profit to establish, although coffee shops restaurants with absentee owners are twice as likely to fail. Anyone who has ever owned a coffee shop or any type of food or beverage business generally understands that in the beginning, it is not the money, but the love of the business they will lean on to keep going everyday. The first record of what would eventually be known as a “Coffee Shop” was Kiva Han in Constantinople (now Istanbul), Turkey in 1475. It wasn’t until 1529 that coffee with cream and sweeteners became popular. In late 17th century Europe coffee shops began to get more prominent, with the first American coffee shop opening in Boston in 1676. It was 1946 when the first commercial piston espresso machine was created by Gaggia coffee bar in Italy. Many restaurants that originated as coffee shops, such as Tim Horton’s, eventually made the transition into a modern typical diner. The largest coffee house should come as no surprise – that title goes to Starbucks. With over 8,000 locations, Starbucks made their way onto the coffee scene back in 1971 in Seattle, Washington. They have become known as the most popular coffee house in the world. It is estimated that for every 1,000 coffee shops that open, only 30 will remain open after 5 years, with a whopping 900 of those closing within the first year. If you are considering selling your coffee shop, you understand the market. It is best to sell fast - sell NOW - before thousands of other similar restaurants flood the market, devaluing your investment right alongside the daily depreciation factors. Stop struggling to earn a living, and start living! Call WBAR NOW for your FREE valuation.
