How to Start a Library and Coffee Shop Business in Bangladesh
Starting a Library and Coffee Shop Business in Bangladesh
Where there is a library and coffee shop business the place is to relax and browse the shelves for the customers. It becomes loyal to life while adding a hot cup of coffee to the mix. Not only a planning but need an organization also to start a bookstore coffee shop.
So, customer preferences should be taken into account and inventory needs to remain fresh. The success of this business really depends on your well-researched planning. If we say specifically, a business success depends 80% on your planning and 20 of your execution. That’s why you should plan, research, ask around, write your coffee shop business plan, and seek the expertise of people who already do what you would like to do.
Why Start a Library and Coffee Shop Business in Bangladesh
As Bangladesh has a lot of higher educational institutes, there is a good chance to start a library and coffee shop business. And Bangladesh’s growing economy is the witness of the growing education rate; many unemployed people have a good chance to start this profitable small business.
Although it necessarily not needs the coffee shop startup kit, you should seek out some help. But, it pays many dividends while having a mentor in the retail coffee business. Also, books and coffee go together very well that we have mentioned earlier. And it may be a lot to bite off at once when opening both at the same time. That’s why if you have a perfect location along with a good planning, you can start the books and coffee go together.
Steps to Start a Library and Coffee Shop Business in Bangladesh
You’ll want to figure out if you want to sell just new books when it comes to the bookstore part of your coffee shop. It’ll give you fair prices on the books you want in your bookstore coffee shop if you just sell the used books. And you should make that you have plenty of books on the shelves and that there is plenty of variety of topics for customers to choose from before opening the business.
Apart from these, there are some irresistible steps that you can’t ignore or leave behind anyway. Well, let’s know what the steps are that you need to follow while starting a library and coffee shop business in Bangladesh.
First Step: Business Plan
As a business plan is a summary of how your business will operate and make money, you need to write a business plan. In addition, it shows how you’ll arrange your investment capital for your business. However, you’ll be able to mark them up much more if you’re producing the products yourself and exporting them.
Plus before pricing your own goods, just make sure to check your competitors’ prices. Let’s see what a business plan comes with:
- Your service details that you’ll sell
- Your target markets
- A marketing plan
- Industry analysis
- Competitor analysis
- Earnings projections
Second Steps: Business Name & Location
Make sure it has a catchy name and one that will be easy for customers to remember when considering your library and coffee shop business. And you need to make sure that it is located in an area that gets a lot of foot traffic when it comes to the location. This will make you free of worries being a lot of parking space. A shopping mall or near a business complex where there’s already plenty of parking would be a good location. But, if you decide on a location inside the shop, you should ensure that there are plenty of areas in the shop. Moreover, you must be sure that the seating is not only ample but is comfortable enough for your customers to relax.
Third Step: Business Costs
Before you start your library and coffee shop business, calculating your total cost will be important. This is because you might be surprised by the costs. But you may also need to put significant startup funds into your inventory if you’re a small independent bookstore.
That’s why it completely dependent on your concept, your vendors, your location, your lease, and your other fixed, variable, and one-time start-up costs to calculate the total business costs.
And, it’s needed to modify your thoughts in a coffee shop business plan along with the various scenarios. So, when it comes to the coffee shop side of the business, the menu will determine much of the cost.
Fourth Step: Relationship with suppliers
In this case, the book vendors play a great role. That’s why it important to establish relationships with book vendors. Whether you want to sell new books, used books or a combination of both should be decided accordingly. And you’ll need to develop relationships with wholesale magazine vendors if you’re going to offer magazines.
Moreover, set up delivery when you know the type of inventory you wish to carry. So, before you open your shop, select the preferences and specific book choices.
Fifth Step: Arrange a Grand Opening
It’s important for your bookstore coffee shop to make a schedule a grand opening. It’ll give you time to work out any problems if you do it after several weeks initially open the doors. So, in order to entice customers, you should invite the public to the opening and be sure to have discounts that day.
The dignitaries like the mayor or chairman should invite before three weeks of the opening. In this time, they’ll be able to make a schedule to attend your opening ceremony.
Sixth Step: Make it Family Friendly & Comfortable
It will open you up to a wider base of customers while making your bookstore coffee shop family friendly. You might want to consider scheduling regular story hours for kids and their parents to do this. That’s why find a people who love to be a storyteller to read books to the kids. Comfort is probably one of the key things you need to focus on for this kind of coffee shop as well as your inventory. As a result, you should ensure that there are plenty of different types of seating available.
Some Other Steps to Follow to Start a Library and Coffee Shop Business in Bangladesh
- Get your trade Licenses
- Register your business venture
- Follow legal entities
- Design a logo for your shop
- Hiring employees