Create a coffee brand for your fans
In order to start a new initiative to increase engagement with your audience, you first need to ask yourself "WHY", "HOW", and "WHAT" is going to bring you to a new level of success as an influencer.
6/22/20233 min read
Why this new initiative is going to provide more growth and engagement? What do you want to achieve from it and what type of initiative should it be? How my audience will benefit from it? Is it capable of increasing my engagement? Is my selected product the right one for my niche or audience?
Excitement is good but you need to identify, whether it's about profit or a passion that you're most excited about. Regardless of which case it is, the common truth about succeeding is that you have to understand the business, the industry, and hacks in order to leverage fast growth at the least cost possible.
FIRST, LET'S TALK ABOUT THE COFFEE INDUSTRY.
By 2025 the coffee market is expected to reach $85 billion. Great years were seen in the ’90s with growth of coffee companies such as Starbucks USA, Costa Coffee England, Tim Hortons Canada and so that in 2020 are now the top 10 coffee companies in the world, but since covid breakdown consumer behavior has been changing to a coffee consumption at home.
Covid made coffee to break the record of consumption at home in April 2021, having 85% of coffee drinkers have at least one cup of coffee per day at home! Consumers were able to try new brands, tastes, and preparation methods and this has increased the number of coffee enthusiasts worldwide.
These facts must be very helpful to understand the potential of the market, but as more business-driven people start to get interested in the coffee market the more challenging it would be to compete and succeed.
MOST COMMON OPTIONS TO START A COFFEE BUSINESS.
This is when the market hacks start to get more relevant, as you might start to think on which way might be the best strategy to enter the market. Each alternative has its own hacks and these are some of the alternatives out there:
Representing an already established brand
Opening a coffee shop in a high traffic area.
Starting your own brand.
The first thing to keep in mind is the cost of starting the business. If you are planning on representing an already established brand, make sure that you have enough resources and time to start this type of venture as it's not likely to be profitable within the first few months as initial commitment and down payment could be pretty expensive.
If opening a coffee shop is your go-to method, don't think twice. It's one of the best options to enter the coffee market, but make sure that you are choosing a location with enough traffic to make a difference and a good evaluation of rent pricing.
Last but not least is starting your own brand.
This is probably the option most people have in mind when they start thinking about starting a business, you can create your own brand and sell coffee online or through retail stores.
We could see that Covid made coffee brands to differentiate itself by offering premium affordable gourmet coffee with monthly subscription plans for its customers as well.
Differentiating your business is the key to success, it's important to keep in mind that you are selling a product that will be consumed by people and they would prefer quality over price.
If you are thinking of starting your own brand, think about how it will be different from other brands in the market. How can you make it stand out?
Over the past few years, white-label coffee has experienced an increase in demand as it is also ideal for companies that are looking to introduce new products in the market since white-label coffee allows you to have your own brand without investing too much money in production.
CONCLUSION.
To conclude, there are many opportunities to engage in a new venture in the coffee industry but first is important to not let excitement makes you take bad decisions. Select well your partners to execute this strategy in the best way possible. try selecting partners that would go above and beyond for your success.
A partner as Market Place Colombia, not only provides AAA quality coffee but also supports you on the execution of the strategy in order to increase your probabilities of success. And if coffee is not the right product for your niche audience, there is other products available for you to choose from.
If you are thinking of white-label coffee, feel free to contact us for white-label coffee solutions at Market Place Colombia.
