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Financials For Coffee Shops

Financials For Coffee Shops

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You won’t have to walk far to find a coffee shop in the United States. We love our coffee, which is great for you in terms of demand, but means there is always going to be strong competition coming from all angles. 

This is why you need to create a loyal consumer base by reaching optimal levels of efficiency and organization. An effective online management system ensures you stand out from others in the industry. 

Needless to say, COVID-19 has also brought further troubles to the industry, making it more difficult for small businesses around the country. Social distancing can mean that you are able to take fewer coffee orders throughout the day, which is why it is critical to look into the financial side of things. 

An online accounting system can help you to make sure that you have all of your money in order. Below, we are going to look at the different areas to consider, all of which can be managed with a financial solution that is integrated and tailored to suit your coffee company.

Payroll – By managing your employees’ payroll electronically, you can be sure of ultimate ease, efficiency, and less margin for human error. 

Debt Payments – Managing debt is vital for any business owner. Read up on DTSS sovereign if you need some help and assistance with this.

Cash flow forecasting – Cash flow forecasting is a vital component when it comes to business success. Inefficient handling of this area of your business can lead to huge problems. You should automate your cash flow so you can have a firm grip on daily finances, bills, and expenses.

Credit control – Stay on top of your credit for optimal financial security. 

Card payment facilities – Most customers will want to pay using their credit or debit card due to COVID-19. Make sure you give them this option with card payment facilities. 

Budgeting and profit projections – You can’t stay in the here and now if you want to reach your ultimate potential. By staying ahead of the game you’ll reap the rewards in the future by maximizing profits.  

Management reporting with KPIs – This is an essential component in driving your business to achieve its strategic goals. 

Point of Sales systems – Effective Point of Sales systems ensure this area of your business is handled successfully, whilst also presenting you with excellent data for moving forward.

Stock control across a number of outlets (for those with more than one shop!) – There is nothing worse for a coffee shop than running out of supplies. Make sure this does not happen by keeping track of your stock and orders. A good system should enable you to do this.

Customer loyalty programmes – Everyone has a favourite coffee shop. Make sure you are that shop with our effective customer loyalty programmes. 

• Sales discounts – Customers love a good discount! By managing sales and discounts effectively you can make better decisions so that you reap maximum profit potential from any sales are discounts you have running. 

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

Smart Ways to Make Money with Your Car

Smart Ways to Make Money with Your Car

If you’re looking for ways to make money, having some kind of asset that you can use can be very useful. You can have various options for making use of that asset, whether it’s investing your money or finding ways to make money from your home. Anyone who has a vehicle can also bring in an extra income in a few different ways. You can consider a range of options that allow you to make money with your car by driving people or things around, using your car as advertising, and more. Take a look at the following options to see how you can make money with your vehicle.

Be a Moving Advertisement

If you don’t mind what your vehicle looks like, being a moving advertisement could be a great way to make money. Brands want to use your car to wrap it in their branding so that as you drive around, people will see their brand. You can choose which brands you’re comfortable advertising and choose how long you want the branding. When you want to take it off or remove it, usually when the campaign is over after a few months, just find out how to remove vehicle wrap. You can often do it yourself if you’re willing to spend the time doing it. It’s also possible to get professional help if you need it.

PC: Mike Birdy

Drive People Around

Do you like people? If you’re up for having a chat as you drive people around, or leaving them alone if they prefer, your car could be great for this. One of the options is to sign up for one of the providers, such as Uber. Another possibility is using a rideshare service, which makes it possible to share your commute or a trip you have planned. Before you do any of these things, it’s a good idea to check any requirements for insurance, taxes, or anything else it could affect.

Become a Courier

If driving people around isn’t for you, driving stuff around might be preferable. Being a courier can help you make a bit of cash, or it could be a full-time job if you want it to be. However, many people prefer it as a way to make a little extra money, as it can be a struggle to make enough when doing it full-time. There are various courier services that you might choose to work with, which can provide you with packages to deliver.

Rent Out Your Car

Some people don’t use their cars very often. If that includes you, you could consider hiring out your car to make some money. Before doing this, it might be a good idea to check with your insurance company to be sure that it’s not going to invalidate your insurance. If you’re good to go, you could make some extra money on the side. That is if you trust other people with your car.

Your car could be a moneymaker if you’re willing to use it in a few different ways. Find a way that works for you.

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

Marketing a Food Truck Business

Marketing a Food Truck Business

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A food truck business can be a fun and financially-rewarded enterprise, but you will need to market your company effectively in order to be successful. With the right marketing techniques, you can differentiate your businesses from competitors, establish a loyal customer base and promote your brand, so it’s vital to engage in effective marketing activities.

Choosing a company name

Your company name should be something people remember, so don’t go for something too obvious. A play on words, a pun or something funny can work well, particularly if it’s related to the food industry or the type of food you serve. Although it is possible to change your business name further along the line, this can risk alienating your existing so customer base, so it’s best to come up with something fresh and memorable from the start.

Use your food truck

Your food truck is the main element of your business, so be sure to make the most out of it. With the right branding, you can make your food truck an effective marketing tool, as well as the best place to eat in town. Whether you’re using a Sprinter van or another type of truck, consider using bright colours to make it stand out or have it professionally wrapped with your logo, business name or typography. 

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Create social media profiles

Social media is a fantastic marketing tool. As well as being easy to use and a great way to connect with your target demographic, social media marketing is cost-effective too. You can choose to run your own social marketing accounts or opt for professional assistance with your campaigns. Whichever option you choose, social media marketing requires relatively little financial investment and can bring in significant returns. 

Social media is also a great way to get your corporate personality out there. Consumers enjoy brands which have a human side to them, so use social media to connect with your audience and help your company stand out.

Launch a website

Although you’ll be selling your food offline via your truck, it’s still important to have an online presence. Most people expect companies to have a website, so you could miss out on business if you neglect this area of your marketing. Furthermore, having a website gives you a great opportunity to promote your brand, share your story and incentivize potential customers. Perhaps offer a weekly newsletter with coupons and vouchers, or motivate customers to share their experiences at your food truck in return for loyalty cards and schemes. With this added incentive, you’ll be able to promote awareness amongst potential new customers and build loyalty amongst your existing patrons.

Promote your local area

With local marketing, you can reduce your costs and increase the effectiveness of your campaigns. If you’re planning to launch a PPC ad campaign, for example, choosing keywords which relate to your local area will ensure you’re reaching consumers who can easily become customers. Instead of focusing on nationwide marketing, stick the area you’ll actually be retailing in for maximum effect.

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.