There are many benefits to opening your own café business – independence, flexibility and the satisfaction of nurturing your own ideas and delivering a product that you love. It is also a lot of hard work. It is likely that you will work long hours and there’s financial risk involved. However, if you pull it off, the feeling of pride will be irreplaceable.
As with real estate, an important thing to consider when opening a café is ‘location, location, location’. Choosing the right area to open your business will considerably improve your chances of success.
Victoria is currently enjoying business growth, in part due to its surging population. The Commonwealth Securities quarterly report on the ‘State of the States’, released in October 2016, stated that “Victoria is top ranked now on population growth and ranked second only behind NSW on retail trade and business investment.” It also stated that it is likely that Victoria will consolidate or improve its position over the coming year. “Victoria has the fastest nominal annual economic growth rate in the nation, up by 5.4% on a year ago.” (CommSec)
With its concentration of coffee lovers, Victoria is also a great place to open a café. Melbourne residents are established as the country’s most frequent café visitors, with 11.4% visiting a café 16 or more times in any three-month period (Roy Morgan). Becoming part of an established café franchise like Jamaica Blue™ will give you the edge in a competitive market. Jamaica Blue businesses are guided by a core belief in sourcing, roasting and preparing the very best coffee.
It’s integral to ensure your finances are in order before you open a café business. Jamaica Blue also smooths the path for you with bank accreditation at all four of the so-called “Big Four” banks in Australia: Commonwealth Bank, NAB, Westpac and ANZ.
As an accredited franchisor with the Big Four, Jamaica Blue enables a potential franchise owner to borrow against the inherent or perceived value of their future café business as well as other collateral, referred to as unsecured lending. This means Jamaica Blue’s operational performance has been checked against exacting banking standards and determined strong enough to use as a guarantee on a loan.
Find out more today about Jamaica Blue café locations available in Victoria and realise your dream of opening a café business with the support of a nationally recognised franchisor.
Resources:
www.commsec.com.au
www.roymorgan.com
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