ILAB 145: Coffee Shop Economics with Coffee Beanery’s Kevin & Laurie Shaw

“People do business with people they like, and they will take an inferior product if they get an excellent experience.”
Laurie Shaw

Laurie Shaw is the COO of Coffee Beanery, the best provider of 100% Arabica Specialty coffee with 40+ Flavored Coffees offered in Decaf Swiss Water Process. In addition, she manages gift sets, fundraising, franchising, & wholesale. Kevin Shaw, the Director of Franchise Sales, joined the family business as a manager of the Ren Cen store in Detroit and soon after moved back to corporate to develop the roasting, flavoring and packaging processes that have evolved into what you see today.

In this episode, Laurie and Kevin are taking us behind the scenes of their business to share what it’s like to run a coffee shop. Learn about the risks and rewards of opening a coffee shop including the earnings and growth potential. After listening, you will understand the economics of owning a coffee shop/franchise and the vital steps in making it your next financial success!

Learn more about Coffey Beanery at CoffeeBeanery.com.

Listen to ILAB 145 on iTunes here or subscribe on your favorite podcast app.

ILAB 145 Show Notes

Where we are:

Johnny FD – Sri Lanka / IG @johnnyfdk
Sam Marks – Florida / IG @imsammarks

Sponsor:

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Discussed:

Coffeebeanery.com

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Time Stamps:

20:26 – Consumption patterns for coffee globally over the past few decades
25:02 – “People like going places that are more special and unique.” – Laurie Shaw
26:47 – The economics of owning a coffee shop
29:10 – Different products they sell and the revenue each product brings in
29:44 – How Coffee Beanery has responded to the rise of remote work and coffee shops becoming like coworking spaces
31:00 – The online order environment in the coffee business
33:22 – Where do their coffee beans come from?
37:01 – “People do business with people they like, and they will take an inferior product if they get an excellent experience.”– Laurie Shaw
40:50 – The cost and profit of a cup of coffee
41:35 – When and how Coffee Beanery moved towards the franchised model
44:43 – The requirements of becoming a franchise owner
55:00 – How Coffee Beanery creates customer loyalty
58:20 – The stats behind Coffee Beanery and other big coffee companies

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