Part 4/7:
When the results warrant it, many owners instinctively cut costs in an attempt to boost profits. This often leads to decline as product quality and customer service deteriorate, ultimately resulting in lower sales. Successful cafés take an opposite approach: they prioritize sales growth. Investing in the customer experience with high-quality food and coffee, efficient service, and an inviting ambiance can foster customer loyalty and ultimately raise revenue.
3. Don’t Fear Price Increases
Many café owners hesitate to raise prices, fearing customer backlash. However, prices need to reflect rising costs. Proactive price increases can preserve profit margins and are better executed early on, before surging costs inhibit the business’s feasibility.