Becoming a business owner | 3 min read
Running a café away from the city is growing in popularity, with more people choosing to set up in their own regional area close to home. There are many benefits to owning a café in a regional area and it can be an extremely fulfilling and successful venture.
1. Community matters
As a business owner it’s always important to get involved in your local community, but in regional areas where the heart of the business is its community, this can actually determine your success. Maintaining and growing your regular customer base is essential for business growth, and relies on having good relationships with locals. Being genuine and friendly can get you a long way in a regional town, and can bring many benefits, such as building trust, word of mouth marketing, inclusion in local events, and crucially, a strong and loyal customer base
2. Location, location, location
Securing a great location that’s central within your area is important – as is the need to consider the competition. If there are already a few cafes in your local centre, maybe considering another location that would suit your café could be a better option. Think about how to differentiate your café, and give the community something that’s truly suited to the area. If you don’t thoroughly assess your market and the local community, you may find you’re contending with competitors – which could have been avoided by choosing the best site for your café.
3. Business life span
Research suggests that regional small businesses tend to operate on average 10 years, while city counterparts only make it to 7 years – giving those in regional areas a 30% longer lifespan1. With close-knit communities and the opportunity to have an engaged, loyal customer base, a regional café business has an amazing opportunity to flourish.
4. Consider your commute
Owning a café close to home can significantly cut down your daily travel time and costs. Australians spend on average, one hour, commuting to work each day; which often doubles for those working in the city2. Saving time travelling to and from work can allow you to focus on what’s really important – your family, hobbies, and of course, your business.
Before committing to buying a café, speak to other business owners in the area to see what it’s really like owning a business there. Talking with them will help you understand what will be involved in running your café day-to-day, and help you know what you’re getting yourself in to. Having a local network is crucial – it will not only help you feel part of the community, but also give you an insight into your market so you can target your promotions and adjust your menu according to the tastes and needs of your area.
6. Determine your business goals
What are your main reasons for investing in a café? Will you work in the café day-to-day? What are your financial goals? As with any new business it’s important that you’re clear on what you want to achieve from day one, that way you can truly assess your own success as you move forward.
7. Talk to your family
Opening a new business doesn’t just impact you, but also your family. Make sure they’re on board with your decision financially and from a lifestyle point of view. Initially it will cost you both time and money, so having support from your family is critical.
8. Ask for help
In addition to the support of your family, it’s essential to get support on a professional level if you want to run a successful business. A huge benefit about joining a franchise is the support you’ll receive. Most established franchises will help with site selection, store design, training, and marketing – which gives you a great head start. You can also gain valuable insights from other experts, like lawyers, accountants, small business advisors and business brokers, and seek advice from other café owners on lessons they’ve learned throughout their business ownership journey.
Ready to take next step? Find out everything you need to know with our ultimate guide on how to buy a cafe.