What degree would educate one enough to open their own coffee shop up?
I'm aiming to get my associates degree and creating a plan to revise over the course of school so that once I complete my two years, I can follow my plan and open my coffee shop. Is an Associates degree enough to open my business or should I get a higher degree?
#business #college #coffeeshop #businessowner #associates #businesswoman
I am not a business owner but two of my siblings had their own companies and I have watched them and learned from them. My sister did not finish college but her husband had a Masters in Business. But my sister was very business-minded and knew how to deal with people. My brother-in-law was very good with numbers and business savvy since he grew up in a business oriented family and was trained even before he got his degrees. My brother has a PhD in Psychology while his wife has a degree in finance. Again, both have the "head" in running a business and know how to deal with clients and their employees. I also have seen people start a business and be successful at it without having degrees in business.
You need to have interest, passion and some street smarts in setting a business. Also ready to work long hours, learn to manage your employees, and get capital to start your business. Having a degree is helpful but I also suggest, getting a mentor, work part-time at a coffee shop and learn the business, and/or network with people who have successfully set up their businesses as well.
The best thing to do is to talk to people who have a coffee shop to see what they might have for advice. You really do not have to have a college degree to open and run a coffee shop. Many people have been able to attain ownership of a coffee shop by working in one that is successful and becoming the best possible employee. This put them in position to have the shop turned over to them when the owner left the business or made them a partner or part owner.
Here are interesting sites relating to your question: Should You Go To College
https://medium.com/the-mission/the-value-of-the-college-degree-is-crashing-heres-how-to-fix-it-cd7a1e116396My Biggest Regret: Going to College
Ken recommends the following next steps:
If you were to go to school any business degree is going to help you. Typically a business degree curriculum is going to cover: Accounting (very important to manage your expenses and taxes), Finance (how are you going to pay for this business), Management (not just about people but culture), Marketing (how is anyone going to know about the business and when they do, how will you connect with them), Supply Chain Management (how will your source your coffee, equipment, and everything else you need and deliver it to the customer), and Information Technology (what point of sales programs will you utilize, and how will technology help you run a more efficient and successful business?). I found that having a bit of education in each area, prepped me for my career in sales. When you learn about all these areas of business, you are much better prepared to face the challenges (and rewards) that will come with having your own business.
Finally, I highly recommend taking entrepreneurship courses. These courses usually address the questions that most business start ups fail to face. What sort of problem or pain am I solving with this business? What is different about my business that will attract buyers? There are many more questions. A good book to read is All In Startup by Diana Kander. Also, Eric Ries - The Lean Start Up.
Sophia recommends the following next steps:
I would suggest getting a Bachelors in Business Administration. It will give you a good broad based understanding of the necessary concepts. However, I would also suggest having a significant amount of experience working in a coffee shop to really understand what it takes. Perhaps even working for more than one coffee shop so you can see the different ways in which things are done so you can have a good basis to make your own decisions on how you want your shop to operate.
I would a degree in Business Management or Hotel and Restaurant Management (if offered)
According to Bellissimo Coffee InfoGroup, it costs at least $200,000 to open a coffee shop. For a coffee cart, it costs roughly $20,000. Truthfully, it's much easier to open a coffee shop and succeed with $300,000 than with $10,000, but it's not impossible to succeed with $10,000.