Friday, March 19, 2010

Coffee Companies Can Inspire Entrepreneurs to Do the Same

SEATTLE - JULY 01:  Makenzie Mumford and Brand...Image by Getty Images via Daylife

Research shows that coffee is ranked as the third most popular drink in the world. The first of course is water, which is followed by soda. The demand has opened business opportunities for various companies and expansion is not only within the United States but also in other parts of the globe.
One of the most successful of these is Starbucks, which had its humble beginnings more than 20 years ago. The story begins with a few friends who decided to pool the financial resources together to open up a store that sold coffee products.
Things were do well until someone new came along and was sent to Italy for a convention. Given that Italians drink coffee in the streets and enjoy mingling with others, the idea came about of opening the same thing back in the United States.
Initially, the other members were not very keen with it. Donut shops were doing this already but these places only provided brewed coffee. There were no mocha frappucinos or caffe lattes.
Rather than shelving the idea, the group decided to give it a shot in one branch. The establishment was not called Starbucks yet. It was named after Italy’s largest publication called Il Giornale.
Five years later with the help of investors, business expanded like wildfire. There is a Starbucks cafs very near each other so if one is filled, the customer can always go to the next which is a block or two away.
Currently, there are more than 90,000 Starbucks cafes around the world. The recent acquisition of Seattle’s Best has made the company much bigger resulting to annual revenues of more than $7 billion.
Bookstores have even caught up with the idea of putting up a caf. This allows customers to relax and read a book while sipping a cup of coffee. A good example of this is Barnes and Nobles wherein every outlet has this right near the entrance.
But people don’t need a lot of capital to put up a coffee shop. The most important things to have are the machines, the people and a supplier that will provide the ingredients to come up with various concoctions. The only thing the entrepreneur has to now is find a place to rent where there is a lot of foot traffic, fix it up and then reap the benefits of the hard work that was put into making this business a reality.
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