What could be the possible reasons a cafe start-up might fail

Starting up a coffee shop sounds so matter-of-fact but deep down in its essence, it looks quite windy and full of risks. However sometimes, ignorance takes over and we throw caution to the wind. Little do we realize that such a start-up is not a get rich quick scheme and is a real business with real customers, real overheads and a lot of potential to go wrong.  I know some who failed miserably and out of curiosity, I asked them where it went wrong and they pointed out some of their own flaws. Most common were:

Lack of genuine passion: If you think that just making a decent cuppa latte or cappuccino can help you strike it rich, you are miserably wrong. The key here is the people and you need to possess genuine passion and enthusiasm to not only make excellent coffee but also to meet and serve people. And my friend, that passion has to be true as steel, otherwise people notice it just like that.

 No budget or plan: Trust me you gotta know your financials heart and soul. If you misunderstand the taxes and other financials to be met at the end of the quarter, you are going down. You need to have a concrete plan to attain a decent turnover or how will you pay your employees or the rent.

Inconsistent standards and poor service: People like consistency and it doesn’t matter if it's a store or a restaurant, they want to come in and see what you are famous for. After all, they will be paying and everybody makes sure they aren’t paying their hard earned cash for nickel-and-dime stuff. If you can’t maintain the quality, you will be a thing of the past in no time.

A fixation with profits alone: An unending concern with profits alone will lead to poor relationships with suppliers and other associates and that alone is enough to take the business downhill. So worry about how to earn the trust of people first, profits will follow.

Source- http://www.binaryclues.com/