There’s some positive news coming from the world of coffee this week, and coffee shop owners can’t contain their smiles. According to the Caffe Culture Show, almost a third of small coffee shop owners in the UK have seen an increase in coffee sales of 20% or more over the last twelve months.
Nine out of ten surveyed expect the welcome trend to continue throughout 2016. According to the survey, Almost 25% enjoyed a turnover of more than £200,000 in 2015, with an encouraging 31% planning to reinvest at least £10k back into the business to assist further growth.
It seems like now is a better time than any for coffee shop startups to get those beans grinding, which in itself is a marked difference to the outlook just a few short years ago. The global downturn wasn’t kind to coffee shop owners, with sales plummeting in-line with many other sectors. Thankfully, that looks to have been banished to the history books, as coffee sales are back to full strength yet again.
Although sales are back to normal, but our tastes look to have changed. Accounting for a whopping 60% of sales, the rather continental latte has re-emerged as our drink of choice, followed by the flat white at 26%.
The coffee industry has also found itself at the core of some new trends over the last few years, too. The quirky ‘hipster’ phase has quickly become a part of British culture, and coffee appears to be a facet of that lifestyle.
Whatever the reason is behind the bounce back, we at Merchant Loan Advance welcome the news! Many of our satisfied customers own busy and successful coffee shops. If you own a coffee shop in the UK and are looking to fund a new idea or expand, why not see how a Merchant cash advance could help?
Get in touch with our team to get the best possible prices available on the market.