Increased consumer interest drives the café and coffee shop sector
How our habits affect the industry
From picking up your morning coffee to meeting with friends and catching up, cafés and coffee shops have always been an important part of our day to day lives. The performance and increasing success of this sector is driven by our change in social behaviour and the way we have changed our drinking habits. New figures by the British Coffee Association (BCA) show that the UK coffee consumption has boomed from 70 million cups of coffee a day to 95 million in the last 10 years.
So how will our habits affect the industry? IBISWorld predicts that revenue will continue to grow at a compound annual rate of 4% over the next 5 years. They go on to say that during the 2018 – 2019 period revenue will reach a staggering £6.3 billion.
This is positive news… right?
With the number of UK pubs in a steep decline (a closure rate of 31 a week) and the coffee shop becoming the preferred social hub, who wouldn’t want to become a coffee shop owner? It simply comes down to the competition. The industry is highly brand focused with top coffee chains such as Costa and Starbucks leading the way. According to an article from the Telegraph it has been reported that Costa has opened 76 shops in recent months, totalling 1,831 outlets within the UK.
How can we help?
We are here to help Café and Coffee shop owners that want to invest and expand their business. We provide asset finance and commercial loans for any business purpose. From purchasing new equipment to shop refurbishments, website development to boosting your working capital, we are here to help.
• Asset finance from £1,000
• Commercial loans from £3,000
• All businesses considered
• Flexible terms 3 months – 5 years
• Fast decisions and high acceptance rates
For more information or a finance quotation please complete the form below, alternatively you can phone us on 01420 481 500.