Consulting Services
Retail Start-up Tea Consulting Services
Our consulting services are designed specifically for start-up and early stage tea shops that wish to improve their store operations to improve profitability, inventory turnover rates, and overall customer experience.
There are many resources for learning about tea and helping you design your tea shop. Unfortunately, buying teas and designing your retail environment are only the first of many critical steps required to build a successful small business.
First and foremost, you will need a solid business plan. This is the "business blueprint" that you and others will follow. It is an active guide, one that you will constantly reference and update. This should be a formal document that you, your friends, your investors, and others, will critically examine. If you have trouble getting started, or you have trouble finding an end point, consult a professional. If you think you can start your business without a completed business plan, our advise to you is simply, "Don't". The step of writing a business plan is a reflection of you, the entrepreneur.
Second, anticipate that every ounce of talent available will be brought to bear. Start-up environments require absolute education and a rational view of what you can and can not do, what you should or should not do. Stay organized and be ready to make quick assessments of project resources, timelines, and budgets.
Third, many realists will quickly point out that 50% of start-up businesses will fail within two years, and another 50% of the survivors will fail within five years. The biggest source of failure is undercapitalization. If you're doing things for the first time, as a real pioneer, there will be mistakes. Being undercapitalized means you may not have a chance to find out if your business was really on target before you are forced to sell or close.
Finally, run your business analytically. Where are your profits coming from? What are your best sellers? What are your average margins? What is your inventory turnover rate? What are your greatest manageable expenses? What is the driving force behind those lofty future earnings? When are your customers coming in and how much, on average, are they spending? How are you motivating and measuring the impact of your employees? What is your marketing plan and what are the metrics for your success?
At Infusions of Tea, we've created the management “know-how” for success in the retail tea industry. If you're thinking about starting a retail tea business, call us. Our consulting engagements are designed based upon your specific needs and budget. This is a great time for the tea industry. Are you ready?
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