01/09/2021
Are
you a coffee drinker? If yes then this article might be of interest to you. If
not, don’t worry; you may still enjoy reading it.
The
question, do we need more coffee shops? came
into my mind after counting and observing that at least 15 coffee shops are all operating
literally in one street. If you happen to live in Muscat City, then you probably know
the street I am referring to.
Anyway,
I am sure you have come across different types of similar businesses operating
perfectly fine next to each other. That might be due to various reasons for
example being closer to potential customers or, there could be specific regulations that mandates such situations.
However,
in my opinion, the case of coffee shops is a bit extraordinary Imust
say. Now more than ever, people are more drawn to the culture of coffee shops
and coffee chats in general. The lifestyle among young people and adults as
well, has changed. This haspositively influenced the industry.
Therefore,
do coffee shop owners willingly choose to operate close to their direct
competitors? Is it a smart move? Well, I can’t be the judge to that unless I
have access to their financial records which I don’t.However, the key point to keep in mind if you
are planning to start a business in a highly competitive market is the “Added
Value”. What is the new fundamental element thatyou are bringing to the market ? How are you
going to do it differently. consumers still have the appetite for new products/
services in the market with added value.
Another
key point to keep in mind is the LOCATION! A crucial factor in determining the success of a coffee shop. Yes! the market
has the appetite for it but maybe tapping into new locations is something worth exploring. Moreover, every
coffee shop has its own ambience and quality of
beverages and service offered. So, to answer the question when we
started this article, yes, I can conclude that there is a need for more, coffee shops preferably in new untapped feasible
locations. Yes, we do.
Imtithal Al Ryiami
Project Specialist