Paul Ross and the Special Guests cafe journey episode 3

This was a short episode continuing our series with Paul Ross. This episode touched on some aspects of the business fundamentals of running a cafe, but we will go a lot deeper into this in future episodes. As Tibor alluded to in his question, there are many first time cafe owners who do not have a good knowledge of targets such as labour and cost of goods sold as a percentage of net revenue. Pricing is based on what a customer is willing to pay, but it needs to cover purchase costs, wastage, and contribute to labour, rent, rates and other overheads. So, often that high quality cake with a healthy 50% margin is losing you money, because it should have a 100% margin, but your customers won’t pay that price for it.  Since this episode was recorded in early April and it is now July, a lot has happened with the Special Guests cafe, but builders have only just gone on site, So it is well behind schedule. Thanks for listening to the Coffee Knowledge Hub podcast with Tibor and Andrew. Please rate us/like us and subscribe wherever you get your podcasts. And share this series with anyone you know who is thinking of opening a cafe. 

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