New Delhi:Did you know that, after water, coffee is the beverage that people drink the most? So, if you want to open a coffee shop in 2023, you can take advantage of a sizable and expanding market. According to research, the worldwide coffee market generated $494 billion in revenue in 2023, about twice as much as it did in 2015.
Coffee Shop Business: CAGR Data
Additionally, a CAGR of over 13 percent is predicted for the specialty coffee industry between 2020 and 2025. (Also Read:Game-Changing Business Idea: Earn Rs 30 Lakh Per Year With THIS Money-Making Hack)
This demand, the development of coffee culture, and the positive effects of moderate use on health are largely fueled by the rising popularity of specialty coffee. But it's harder than it seems to start a coffee shop business.
Coffee Shop Business: Investment Details
There is no fixed figure of the amount regarding the investment. It all depends on numerous factors including location, interior design, furniture, and more. As per the reports, the estimated cost of setting up a coffee shop ranges between Rs 5 Lakh to Rs 20 Lakh.
Coffee Shop Business: Profit Margin
If handled well, it can be quite successful because coffee has better profit margins than other food items and typically has lower operating costs than other company models.
Coffee Shop Business: Profit
Depending on the area, the profit ranges from 10,000 to 40,000 each day. After paying for all expenditures, you can make about 40 thousand to 1.5 lakh profit each month.
(Disclaimer: This article is for sole information purpose and for readers' project identification. The earning calculator is also mostly based on assumptive figures to give an example of certain type. Zee News article does not intend to give any financial advice of any sorts. For initiating any venture, you must do your own due diligence and market research)
