Saturday, May 24, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

She Was a Regular at a Struggling Coffee Shop. Then She Bought It, and 4X the Annual Revenue to $1.8 Million.

Simon Osuji by Simon Osuji
September 26, 2024
in Creator Economy
0
She Was a Regular at a Struggling Coffee Shop. Then She Bought It, and 4X the Annual Revenue to $1.8 Million.
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Kristen Williams-Haseotes bought a struggling Bad Ass Coffee and made it the brand’s top-performing location. Now it’s on track to drive at least $1.8 million in revenue in 2024. How? She knew nothing about the coffee business, but she understood the importance of community, and how it gives places meaning.

Haseotes once ran a home for ex-offenders reentering the community, and then worked in community development at a bank. In 2019, while living in Naples, Florida, she was a regular at the local Bad Ass Coffee of Hawaii, because she loved the sense of community there: “It’s where everybody came and sat together and had a cup of coffee,” she says — from local electricians and landscapers to millionaires and billionaires. But the location was struggling, with revenue of only $430,000 a year. So she bought it. Here’s what she did next.

Related: Why You Should Buy a Franchise Instead of Starting Your Own

1. Promote from within.

Haseotes hired some new staffers, but also got to know the existing team members, and looked for outsize potential. One barista in particular, Daniel Guimond, seemed ready for a major promotion — so she made him a manager. “It made all the difference. My advice is to look around and see who does the work and exceeds expectations. That’s who deserves a shot.”

2. See the bigger opportunity.

Haseotes had a chance to expand into the space next door. This made little financial sense — twice as much rent, but no ability to expand the menu (due to a parking and zoning issue). But to Haseotes, her shop wasn’t really about coffee. It was about community — and the new space could host music, lectures, and more.

3. Always foster connections.

Haseotes had to close for the shop’s renovation, but during that time she offered free coffee to customers outside. And after a hurricane, she took free coffee to first responders. “We didn’t want people to go elsewhere. It’s about routine,” she says. “I paid the staff. But with the tip cup, we donated that money to charity. When people gave, they gave generously.”


Advice from the Franchisor

Don’t let big changes distract you from business fundamentals, says Bad Ass Coffee of Hawaii CEO Scott Snyder. For example, the franchise was acquired the same year that Haseotes bought the Naples location — and the new owner launched a total brand redesign soon after. But Haseotes knew she had to iron out the basics before aesthetics.

She was laser-focused on “inventory, having equipment that works, and following the guidelines we were setting,” Snyder says. And it worked. “She nearly doubled the store in the first year without making any fundamental changes to the design.”

Related: When He Immigrated, Math Was the Only Language He Understood. Now He’s Built That Knowledge Into a Franchise Making $30 Million a Year.

Source link

Related posts

Microsoft says its Aurora AI can accurately predict air quality, typhoons, and more

Microsoft says its Aurora AI can accurately predict air quality, typhoons, and more

May 24, 2025
Startups Weekly: Cutting through Google I/O noise

Startups Weekly: Cutting through Google I/O noise

May 24, 2025
Previous Post

RoTIC Symposium 2024 showcased representation from over 60+ countries

Next Post

10 countries with the fastest growing millionaire population

Next Post
10 countries with the fastest growing millionaire population

10 countries with the fastest growing millionaire population

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

President Wavel Ramkalawan Leads District Administrators Meeting

President Wavel Ramkalawan Leads District Administrators Meeting

10 months ago
The most expensive presidential jets in the world

The most expensive presidential jets in the world

9 months ago
The Ten to Watch in 2025: Jason Barber

The Ten to Watch in 2025: Jason Barber

5 months ago
Advanced machine learning streamlines market-timing decisions

Advanced machine learning streamlines market-timing decisions

6 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.