6:00 WHY WORK WITH AND FOR BARE COFFEE RATHER THAN ANY OTHER ROASTER
Chance to work with friendsEnjoy working in a space (the USA) that is still bloomingA chance to apply skills from other industries and take into the coffee industry
7:30 WHAT ARE 1-2 BUSINESS MISTAKES COMPANIES MAKE
Not specific to coffee, they’re always let by passion but don’t always identify the main goal whether that’s pure profit or a passion to be within the industryIt needs to be business first and passion second, because at the end of the day the passion stops when the money runs out.Why is it you want a cafe rather than any other business. The key is when someone says “I wanted to run a great business and I love coffee.Or do what Richard Branson did, hire to your weaknesses so you can focus on your strengths
14:00 HAVE YOU HAD TO TURN AWAY A CAFE THAT DIDN’T HAVE THEIR BUSINESS ACUMEN UP TO SNUFF, OR A CAFE THAT SLIPPED
Maybe its been a lucky streak with our marketing, but we haven’t had a customer in that situationOur marketing is a ‘wine to coffee’ and the intrigue round that
20:00 WHAT ARE THE MOST COMMON QUESTIONS YOU GET ASKED
People trying to understand who we are, and why come from Australia to the USA?A good second question is what is the difference between the US and Australian market?We can talk about competition because the Australian market is so robust, so much competition in close proximity.
26:00 WHAT IS 1 THING YOU WISH CAFE OWNERS DID OR DIDN’T KNOW
"Do you know what a balance sheet is?”
29:00 THE TEAMWORK IN AUSTRALIA WAS GREAT
“They’re paid well”Each cafe respects their internal cultureBrothers Espresso, Queensland AustraliaBoom Coffee, HoustonWrecking Ball San Francisco34:00 Smallest espresso bars, hole in the walls, are great. PROS: so cheap to setup and run day to day. Quirky and tiny, smaller, faster, cooler, small menu.37:45 I think we’re tapped out on sports analogies42:00 there is plenty of room for growth within the coffee industry
42:30 HOW CAN A CAFE GROW 10X?
Know your COGs (cost-of-goods-sold)Understand your operating capitol neededIdentify your differentiatorsTeam up with another business like a local bakery, “What can we do where we both make a killing” also private label roast for other businessesKeep your eyes on cold-brew as well
49:30 IDENTIFY YOUR UNIQUE PROPOSITION
Customer Service is a hard thing to market as the differentiating factorAlways step back and think of a couple of hooks that will establish a relationship with your brand versus another brand.