Buying a Coffee Shop in Oklahoma City, OK: What You Should Know

With 5.8 percent growth from 2013 to 2018, now may be the best time to buy a coffee shop. The $48 billion industry is on the rise with the potential to expand into different markets. Sunbelt Business Brokers shares questions to ask yourself before buying a coffee shop in Oklahoma City.

5 Questions to Ask Before Buying a Coffee Shop in Oklahoma City

If you’re interested in investing in a coffee shop in Oklahoma City, answer these five questions to ensure a successful transaction.

1. Why is the current owner selling?

Owners sell their businesses for many reasons. If the current owner suggests they’re selling the coffee shop due to financial reasons, make sure you do some additional research. While a new owner can turn things around, it’s crucial that you know what the current financial state is. Common reasons owners sell their business include retirement, burnout, illness, or new opportunities. Know what you’re getting yourself into before buying a coffee shop in Oklahoma City.

2. Does the sale include real estate and equipment?

Location impacts the success of a coffee shop in Oklahoma City. If the coffee shop is doing well in the current location, find out if the owner is including the real estate in the sale. If the owner does not include real estate in the deal, consider the cost of finding a new location to this already costly investment.

In addition to real estate, every coffee shop needs equipment to make coffee. From espresso machines to custodial equipment to keep the place clean, know what the owner is including in the business sale.

3. How does this coffee shop stand out?

There is plenty of competition for a coffee shop in Oklahoma City, OK. Ask the current owner what they currently do to position themselves in the market. The keys to success include having a clear market position, effective cost controls, and a unique customer experience. While the current owner may not have these factors figured out, new ownership can bring some fresh ideas.

4. What is the average cost of running the coffee shop?

Running a coffee shop in Oklahoma City can be costly. Ask the current owner to provide you with financial details such as utility bills, leases, and taxes to get an idea of how much it costs to run the business.

5. How did the current owner arrive at the listing price?

If you’re seriously considering investing in a coffee shop in Oklahoma City, make sure to look into how the owner arrived at the listing price. Ask the current owner if they enlisted the help of a business broker or other professional to determine the value of the business. If they have a professional valuation, it’s likely that there is little to no room for negotiation.

If you’re buying a coffee shop in Oklahoma City, contact the Sunbelt Business Brokers of Oklahoma City to help ensure a smooth transaction. From determining the best opportunity to negotiating a contract, working with Sunbelt Business Brokers helps relieve some of the stress of buying a business.