Tag Archives: sales

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.

Get Better At Saving And Save Yourself Hassle!

Get Better At Saving And Save Yourself Hassle!

After Christmas, we can find that our bank accounts have diminished and now we are into the new year, we are probably slowing picking up again but you may never know when you might need some extra cash. It may be something as simple as needing a new part for your fridge that has stopped working or perhaps you need some Towbars to assist with your car. So here are some tips to ensure that you stay on top of your finances this year and learn to get saving: 

1. Budget For Next Christmas

Start saving for even now for this coming Chrismtas. It sounds very dramatic and not necessary so early on in the year, but this will certainly be of huge benefit. This will help save money in the long run and you can do this by collect money in a little pot/fund, and let it accumulate over the months, which gives you a little bit to play around with. Look at what your bank offer in relation to offers and savings accounts which round off each penny to the nearest pound collecting it in a separate account. Over time, you could find yourself with a small amount to splash out on gifts for the people you love.

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2. Go Sale Hunting

Don’t buy anything full price and go to look at all the sales, thrift stores and more because this will ensure that you don’t overspend. Be wise with the sales, and look for things you only really truly need, and this will ensure that you don’t keep tapping into funds just after the busy period. Most things can be bought on a budget and this is the best way to help save those extra pennies for when you may need them the most. Many thrift stores will also have sales too, as they will want to get rid of old stock and bring in new ones. 

3. Leave It To The Professionals

Don’t let the worries of needing money get you down. It can be difficult to just forget that you have spent far too much and that you need to top your funds back up. Perhaps you have overspent on your credit card and you need to start paying back asap. Consider borrowing money and don’t fear your finances anymore. Borrowing money could seem scary but it’s important that you shop around and get the right deal for you with no interest rate. Some payday loans are certainly not good at all so look into what could work well for you.

Saving money is tricky, not many people have disposable income at the end of the month but it doesn’t mean you can’t learn to save a little and keep some extra for the little extras that we can take pleasure in. the more you save, the better you will become at it and soon enough you may have enough to take that break away in the summer sun! So start saving today! 

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.