Bean There, Done That!

Café Transitions: Selling, Valuing, and Franchising Insights from Industry Expert Craig Hong

Ever wondered what it takes to sell one's café for top dollar? Join Phillip Di Bella as he sits down with Craig Hong, Hill House Legal Partners Director, to explore the inner workings of café sales, equity sharing, and the buzzing world of franchising. In this candid conversation they get down to the brass tacks of maintaining healthy business accounts, safeguarding intellectual property, and why one should keep their café in tip-top shape for the ever-watchful eyes of potential buyers.  As they unpack Craig's experiences, listeners will be privy to the nuances of employee equity sharing and shareholder agreements—a game changer for those wanting to lessen their grip without losing their legacy. Hear firsthand how Hill House legal Partners approach gradual ownership transitions, and why the blend of different share classes can be a masterstroke for aligning new stakeholders with one's business's vision, bringing strategies that could fundamentally shift how one views and grows their business interests. They close the episode on franchising—demystifying the legal labyrinth and financial models that can make or break one's café chain dreams. From the allure of belonging to a bigger brand to the intricate dance of franchisee-franchisor relations, they cover it all. Craig's sage advice will prove indispensable, whether one is looking to franchise their café or just ensure its legal health. So, grab your pen and paper, and let's get into the nitty-gritty of café business brilliance!Highlights(00:02) Selling Cafes and Business Performance StrategiesThis chapter, I sit down with Craig Hong from Hill House Lawyers to unlock key strategies for cafe owners looking to sell their business. We explore the importance of having a clean and separate business account from personal finances, the necessity of written contracts, and ensuring intellectual property like trademarks and business names are properly registered. I emphasise the significance of running a business as if it's always ready to be sold, highlighting that this mindset promotes constant improvement and prepares the business for potential buyers. We also touch on the concept of goodwill in business valuation, discussing how to secure and document the unique aspects that contribute to a business's intrinsic value, such as favourable supplier agreements and positive employee records.(12:25) Equity Sharing and Shareholder AgreementsThis chapter focuses on the critical steps business owners should take to prepare for either selling their business or extracting some value from it without giving up ownership. We cover the importance of delineating personal and business assets, protecting unique aspects of the business through trademarks, and securing supplier agreements. The conversation then shifts to strategies for owners who wish to retain their business but reduce their workload or cash out some of their equity, with an emphasis on employee equity sharing. Craig shares his personal experience with gradual ownership transition at Hill House, underscoring the value of having a clear pathway and agreement for key employees to invest in the business. The dialogue also touches on different classes of shares, shareholder agreements, and the need to align expectations when introducing new stakeholders to the business.(23:51) FranchisingThis chapter covers the essentials of franchising, including the advantages such as having a unique offering, the importance of providing training and support including marketing, and leveraging buying power across multiple stores. I share insights from my experience with Dibella Coffee and how disclosing the benefits in franchise documents is crucial. We also consider the franchisee's perspective, emphasising the confidence gained from being part of an established system with support and market presence. Additionally, we touch on common pitfalls and the importance of understanding franchise agreements, renewal terms, and potential costs. Lastly, we examine different models of collecting franchise fees, such as upfront payments, ongoing licence fees, and making money from required product purchases, using examples like McDonald's real estate strategy to highlight the diversity in franchising structures.(28:27) Franchising and Legal Advice for BusinessesThis chapter we explore the critical importance of knowing your numbers and creating a sustainable financial model when considering franchising, particularly in the cafe industry. I share insights on the slim profit margins cafe owners face and the impact of franchising fees on their bottom line. We discuss the necessity of having a model that benefits both the franchisor and franchisee, emphasising the need to avoid placing undue pressure on franchisees to prevent a potential snowball effect of failure. We also touch upon the role of legal advisors in the early stages of franchising, recommending a proactive approach to legal counsel to avoid costly reactive measures later on. Craig from Hill House Lawyers provides advice on when to engage a lawyer, highlighting the value of seeking legal advice as an advisory service rather than as a transaction. The conversation wraps up with a reminder to listeners to reach out to legal professionals early to ensure peace of mind and to keep their business on the right track.Produced By The Podcast Boss

Innovation at the Checkout: How Tyro is Changing the Game for Cafes and Restaurants. with Daniel Kydd

Join Phillip Di Bella as he dives into an engaging conversation with Daniel Kydd from Tyro Payments. This episode uncovers how Tyro's innovative payment solutions are transforming the way cafes and restaurants operate, offering seamless integration and customer-focused services that propel business growth. Discover the essence of customer obsession, the future of payment technology, and strategic marketing insights that can elevate your business to new heights.Key Takeaways:Tyro's ecosystem facilitates a smooth operational flow for cafes and restaurants, integrating crucial systems for an enhanced customer experience.The company's customer-centric approach and flexible solutions cater specifically to business needs, setting Tyro apart from competitors.Tyro's marketing strategies emphasize storytelling and emotional engagement, leveraging internal and external channels to effectively communicate their value proposition.Exploring the future of payments, Tyro is at the forefront of innovations like facial recognition and embedded payment systems, promising a revolution in the payment experience.This episode with Daniel Kydd from Tyro Payments encapsulates the critical role of innovation and customer service in driving business success. Tyro's forward-thinking solutions and commitment to addressing real-world challenges offer invaluable insights for businesses aiming for growth and resilience in a competitive landscape.Apply the lessons from today's discussion to enhance your business operations and customer service. Remember to share this episode, subscribe for more insightful content, and rate us. Your support helps us bring you the insights you need to thrive.Links and Websites:Tyro PaymentsThe Coffee CommuneProduced by The Podcast Boss https://www.thepodcastboss.com.#CoffeeCommune #BeanThereDoneThat #Innovation #CustomerService #PaymentSolutions #BusinessGrowth #Tyro #PodcastLife #Entrepreneurship #HospitalityIndustry #CafeCulture #RestaurantManagement #TechInHospitality #BusinessStrategy #AustralianBusiness #HospitalityTech #Podcasting #Podcasts #PodcastersOfInstagram #PodcastShow #AudioContent #PodcastHost #PodcastCommunity #FoodAndBeverage #TechSolutions #CafeOwners #RestaurantTech

Resilience Redefined: The Lauren Hall Odyssey

Join us on "Bean There Done That!" for an engaging episode with Lauren Hall, a force in entrepreneurship who turned challenges into opportunities. This episode features an in-depth interview with Lauren Hall, a serial entrepreneur and CEO/founder of Ivvy, sharing her remarkable journey from starting her first company at 17 in South Africa to building five multi-million dollar companies across various industries and now making a significant impact in Australia. Overcoming immense personal and professional adversity, including the traumatic loss of her father and relocating to Australia with nothing, Hall's story is one of resilience, adaptability, and unwavering determination. With over 25 years of experience, raising over 30 million in capital, and scaling businesses globally, she shares insights into overcoming obstacles, the power of believing in oneself, the importance of building a supportive team, and her vision for Ivvy. Hall also discusses the challenges and responsibilities of being a female entrepreneur, advocating for equality and offering advice to the next generation. Her journey is not only a testament to her indomitable spirit but also serves as inspiration for entrepreneurs and leaders around the world.🌟 Highlights & Key Takeaways:🚀 Lauren Hall's entrepreneurial journey from starting her first company at 17 to becoming a global entrepreneur.🌍 Her success in building multimillion-dollar companies across diverse sectors, including technology and pharmaceuticals.💡 The importance of resilience: Lauren shares how overcoming significant adversity was pivotal in building her business.🌐 Insight into the challenges and triumphs of global expansion and the role of innovation in business scalability.🏅 Lauren's perspective on leadership, the power of building the right team, and fostering a culture of excellence and innovation.🎯 The critical role of personal branding in entrepreneurship and the impact of social media.🎉 Celebrating achievements while emphasizing the journey over the destination.Take action based on the episode:Embrace the journey of entrepreneurship with resilience and open-mindedness. Draw inspiration from Lauren's story to navigate your path, invest in building a strong team, and don't shy away from challenges. Remember, it's the relentless pursuit of your vision that defines success.Engage with us:We'd love to hear your thoughts on this episode! Subscribe, rate, and review "Bean There Done That!" and share your takeaways. Produced by The Podcast Boss https://www.thepodcastboss.com.#Entrepreneurship #Resilience #Innovation #Leadership #GlobalBusiness #PersonalBranding #LaurenHall #Podcast #BeanThereDoneThat #ThePodcastBoss #Inspiration

The Future for Independent Cafes in Australia: Key findings and Strategies in Hospitality

In this episode of "Bean There, Done That" Phillip Di Bella  alongside returning guest Alan Bonsall, delves into the significant findings of a pivotal paper titled "The Future for Independent Cafes in Australia." This research, spearheaded by Gianna Di Bella, Alan Bonsall, and Nick Parfitt, offers a comprehensive analysis to chart a course for success in the challenging terrain of Australia's coffee and hospitality sector.Introduction and Background (00:02 - 03:06):The episode kicks off with an introduction to the show's purpose, highlighting the mission of The Coffee Commune to foster collaboration within the coffee community (01:11).The significance of conducting an independent study with a broad perspective is underscored, setting the stage for a discussion on the challenges and opportunities for café owners in Australia (02:03 - 03:06).Study Overview and Methodology (03:06 - 05:19):Alan Bonsall provides an overview of the study's ground rules, emphasizing the need for an independent, comprehensive analysis to guide the future of cafes across the nation (03:25 - 04:17).The methodology behind the study is detailed, explaining how the research was conducted to gather actionable insights into the challenges facing small businesses and cafes specifically (04:17 - 05:19).Key Findings and Challenges (05:19 - 13:41):A critical examination of the perceived problems versus the actual issues reveals a gap in business operating skills, ineffective brand storytelling, and the impact of increased costs and administrative complexities on café operations (07:35 - 13:41).The episode discusses the current state of cafes in Australia, emphasizing the importance of customer acquisition and the role of branding and storytelling in achieving business success (09:15 - 13:41).Strategies for Success (13:41 - 40:30):Innovative approaches to attracting loyal customers, improving business image, and mitigating costs are explored, with a particular focus on the power of community and technology in overcoming challenges (29:57 - 33:13).The discussion highlights the necessity of having realistic expectations and the value of trust and collaboration in navigating the business landscape (33:13 - 35:35).Time management and the strategic importance of branding and marketing are emphasized as crucial elements for business success (37:36 - 39:34).Government Engagement and Conclusion (40:30 - 52:16):The role of government in business success is critically examined, advocating for more meaningful engagement with industry experts before implementing policies that affect businesses (40:47 - 45:23).The episode concludes with a reflection on the key to business success, underscoring the importance of strategy, customer focus, and adaptability in today's market (45:23 - 52:16).Conclusion:This episode of "Bean There, Done That" provides a rich analysis of the challenges and opportunities facing independent cafes in Australia. Through a detailed discussion of a comprehensive study, Phil Wood and Alan Bonsall offer valuable insights and strategies for café owners to navigate the complexities of the industry, emphasizing the importance of operational skills, branding, cost management, and government engagement. The episode serves as a testament to the power of community, collaboration, and strategic thinking in achieving business success.Produced by The Podcast Boss#BusinessChallenges #OperationalSkills #BrandStorytelling #CostManagement #GovernmentPolicies #CustomerLoyalty #MarketAdaptation #TechnologyInBusiness #CommunitySupport #StrategicPlanning #IndependentCafes #EfficiencySustainability #BureaucraticNavigation #IndustryCollaboration#BeanThereDoneThatPodcast #CafeIndustryInsights #BusinessGrowthStrategies #HospitalityTrends #AustralianCafes #OperationalExcellence #BrandBuilding #CostEfficiency #PolicyImpact #CustomerEngagement #TechInHospitality #CommunityInBusiness #StrategicSuccess #PodcastForEntrepreneurs #Podcasting #BusinessPodcasts #HospitalityPodcast #IndustryAnalysis #EntrepreneurshipDiscussion

From ”That Coffee Show”: Coffee Unveiled: Revealing unique insights into the coffee industry with Ben Gleeson, Phillip Di Bella & Raihaan Esat

We have a special episode to kick off Season 3 of That Coffee Show. Crossing over with the ‘Bean there, done that’ Podcast, Ben Gleeson is joined by industry experts Phillip Di Bella & Raihaan Esat. Phillip Di Bella needs no introduction when it comes to coffee & the Australian coffee scene. Initially known for the establishment of Di Bella Coffee, which became Australia’s largest specialty coffee company, Phillip’s entrepreneurial spirit has brought success to other businesses such as International Coffee Traders, Abbotsford Road Specialty Coffee in New York, and more recently The Coffee Commune. Raihaan or ‘Rai’ as we know him, has an impressive coffee resume himself. Known as one of the good guys of specialty coffee, Rai has an incredible palette & coffee knowledge & is always looking for ways to share with people. He is the Head judge for Golden Bean Australasia, General Manager of International Coffee Traders along with The Coffee Commune & was a part of the team that won the Golden Bean World Series in 2022. This episode is jam packed with unique insights about all things coffee & the industry that surrounds it.

Beyond the Beans: Emotional Branding and the Art of Customer Loyalty - With Allan Bonsall

In this episode of Bean There, Done That! Phil chats with brand strategist and marketing expert Allan Bonsall. Also known as a successful author and long-standing panellist on ABC Radio’s Hidden Persuaders programme, Allan and Phil discuss the importance of standing out in a crowded market, creating a compelling brand story, and understanding the customer's needs and emotions. Allan emphasises the shift from seller-controlled to customer-controlled markets and the need for businesses to differentiate themselves to attract customers. He also highlights the role of technology as a tool, not a solution, and the significance of customer experience in building trust and loyalty.Summary 💡[0:01:34] | Importance of standing out in a competitive market[0:02:25] | Shift in power from seller to customer due to the internet[0:03:52] | Abundance of competitors in the cafe industry[0:04:46] | The need for a unique selling proposition and compelling story[0:05:43] | Differentiation strategies for cafe owners[0:07:10] | Importance of understanding competitors and customer needs[0:08:38] | Creating a space for customers to feel welcomed and involved[0:09:31] | Coffee and food options may not be the primary factors[0:10:25] | The complexity of developing a brand and understanding customer satisfaction0:10:25 | Importance of understanding customers for pricing and decision making0:11:43 | Creating a memorable and emotional brand for cafes/restaurants0:12:10 | Importance of planning from a customer's perspective0:14:23 | Turning product features into customer benefits0:15:29 | Emphasising emotional connection over transactional interactions0:17:45 | Reluctance of business owners to understand target audience0:18:38 | Importance of psychographic understanding of customers0:19:53 | Customer-driven market and the need to understand customers0:20:08 | Developing products and ambiance that reflect customer preferences0:20:19 | Data on cafe customer numbers and average spend being down[0:20:18] | Cafes still have the same number of customers.[0:20:25] | Target audience is important for understanding customer behaviour.[0:21:00] | Technology is a tool, not the solution.[0:22:58] | Leveraging technology to create a brand requires understanding its implications.[0:25:18] | Customer experience is crucial for building trust and loyalty.[0:28:03] | Exceeding customer expectations leads to magic moments and word-of-mouth.[0:29:16] | The Coffee Club's success came from being a meeting place.[0:30:29] | Standing out requires understanding customer needs and delivering on them.0:30:59 | First sale is about perception and standing out from the crowd0:31:36 | Frustration with people who don't understand the importance of differentiation0:32:14 | Key takeaways and mission to help others0:32:26 | Allan Bonsall's work in strategic planning and purpose articulation0:33:31 | Contact information for Allan Bonsall0:33:44 | Book recommendation: "17 Rules of Game Changer Thinking"0:34:20 | Shifting from entrepreneurs to game changers0:35:01 | Importance of strategic thinking and not relying solely on technology0:35:35 | Book recommendations and the purpose of the Coffee CommuneEpisode Highlights 🌟The Changing Landscape of BusinessThe rise of the internet and easy access to information has shifted the power from sellers to customers. Differentiation: Understanding Your Competitors and CustomersTo stand out in a crowded market, cafe operators must first understand their competitors and their weaknesses. Creating a Memorable Brand: The Power of EmotionEmotion plays a significant role in decision-making, and customers are more likely to choose a brand that evokes positive emotions.Leveraging Technology: A Tool, Not a SolutionTechnology can help streamline processes, gather data, and enhance the customer experience. However, it is the strategic thinking and understanding of the customer that drives success, not the technology itself.The Importance of Customer ExperienceExceeding customer expectations and creating magic moments is crucial for building a strong brand. Customers want to feel valued, heard, and engaged. By focusing on customer experience, cafe operators can create a loyal customer base that will keep coming back.Key Takeaways 🔑In a competitive market, differentiation is crucial for success.Understanding the customer's needs and emotions is essential for building a compelling brand. Technology should be seen as a tool, not a solution, and must be used strategically.Customer experience is the key to building trust and loyalty.Perception, quality, and consistency are important factors in creating a successful brand.Connect With Us 💌Share the wisdom from this episode with your network, subscribe to "Bean There, Done That!" and leave us a rating. Your insights and support help us bring more enriching discussions your way.Have questions or topics you'd like us to cover? Reach out to us at https://www.coffeecommune.com.au/contact/. Enjoy this episode and as always, thanks for listening.-  Allan’s website: https://www.lookinglass.com.au/ - Bean There, Done That! Podcast: https://www.coffeecommune.com.au/the-new-bean-there-done-that-podcast/ - Contact The Coffee Commune: https://www.coffeecommune.com.au/contact/ 🎧 Produced by The Podcast Boss#StandingOutFromACrowd #CafeOperator #BrandingExperts #SuccessfulBusiness #Differentiate #Competition #CustomerControl #CustomerNeeds #UniqueSellingProposition #CustomerEngagement #EmotionalConnection #CustomerExperience #Perception #CustomerService #Technology #TargetAudience #MemorableBrand #GameChangerThinking #CoffeeCommune #AllanBonsall #PhilipDiBella

Future-Proof Your Lease: Expert Insights from Phillip Chapman

Founder of Lease1 Phillip Chapman joins Phil to discuss the current landscape of the lease market and provide valuable insights and advice for business owners. They emphasise the importance of being proactive in lease negotiations and understanding the terms of the lease. Philip also highlights the need for retailers to right-size their stores and manage their occupancy cost ratio. He encourages business owners to seek support and guidance from professionals like Lease1 to ensure they are getting the best value out of their lease agreements.Summary 💡0:02:23 | Current landscape in the lease market post-COVID0:03:15 | Importance of proactive lease negotiations0:04:36 | Trend of smaller footprint in cafes0:05:19 | Importance of getting the right size store0:06:06 | Changes in lease negotiations over the past 20 years0:06:46 | Importance of being proactive about leases0:07:44 | Benefits of proactive approach as a tenant0:08:02 | Common mistakes in lease agreements, particularly missing lease options[0:08:27] | Importance of being proactive and having a critical path or gantt chart for your lease[0:09:17] | Occupancy cost ratio as a measure of success[0:10:30] | Engaging Lease1 at any point in the lease cycle[0:12:11] | Timing aspects of leases and approaching the landlord proactively[0:13:06] | Managing outgoings and questioning increases[0:15:21] | Free lease review offered by Lease1[0:16:16] | Importance of lease terms for cafes0:16:42 | Lease terms shifting from longer to shorter due to risk.0:17:02 | Flexibility in lease terms, such as 3 plus 2 plus 3 plus 2.0:18:00 | Importance of ring-fencing assets and directors in leases.0:18:45 | Be proactive, seek support, and connect with resources.0:19:13 | Recommended lease term: three years with three-year option.0:19:51 | Pending lease review and need for national minimum lease standards.0:21:28 | Advice for cafes in financial distress: communicate and seek help.0:22:26 | Reach out for support, join the community, and take action.0:23:14 | Importance of being proactive and not doing nothing.0:24:56 | Shift in focus from CBD to suburbs in cafe growth strategy.0:24:56 | CBD cafes in Melbourne, Sydney, and Brisbane were too heavy in CBDs.0:25:08 | Regional cafes were more profitable due to cheaper rents and higher coffee prices.0:25:27 | COVID-19 accelerated existing trends, including the decline of CBDs.0:26:03 | Limited hours and changing dynamics make planning difficult for CBD businesses.0:26:26 | CBD cafes should focus on building assets and be well-prepared for risk.0:27:10 | CBDs may become lifestyle centres with vertical living and more traffic flow.0:27:42 | Work from home has negatively impacted CBD businesses.0:28:05 | Turnover rent is a smart option for new CBD restaurants.0:29:00 | Three tips for signing a lease: review the lease, surround yourself with good advisors, and consider the future of the lease.0:31:39 | Leasing should fit into your lifestyle in terms of health, wealth, and time.[0:33:10] | Coffee Commune leasing bootcamp[0:33:41] | Lease1 helps people accelerate their potentialEpisode Highlights 🌟The Current Landscape of the Lease MarketIn the post-COVID era, the lease market has undergone significant changes. Landlords and fund managers are focused on recapturing asset value and revaluing leases to find rental growth. Phillip emphasizes the importance of being proactive in lease negotiations and leveraging time to secure the best terms for your business.Trends in Commercial LeasesOne of the key trends in the lease market is the shift towards smaller footprints for businesses. Phillip advises businesses to carefully consider the size of their premises to optimise their occupancy cost ratio and avoid unnecessary expenses.The Changing Dynamics of Lease NegotiationsPhillip emphasises the importance of reading and understanding your lease, as well as being proactive in managing it. Lease1 offers a free lease review service to help businesses assess their lease agreements and identify potential areas for improvement.Mistakes to Avoid in Lease NegotiationsPhillip highlights the importance of being aware of lease events and taking proactive steps to secure favourable terms. Managing Occupancy Costs and OutgoingsPhillip provides valuable insights into managing occupancy costs and outgoings. He advises businesses to focus on their occupancy cost ratio, which is the percentage of gross rent to sales. Navigating CBD vs. SuburbsThe COVID-19 pandemic has accelerated the shift away from CBD locations. Phillip advises businesses to carefully consider the viability of CBD leases, as the dynamics have changed significantly. Key Takeaways 🔑Be proactive in lease negotiations and understand the terms of your lease.Right-size your store to match your business needs and reduce costs.Manage your occupancy cost ratio to ensure profitability.Review your lease regularly and seek professional advice to leverage time and secure your business's future.Connect With Us 💌Share the wisdom from this episode with your network, subscribe to "Bean There, Done That!" and leave us a rating. Your insights and support help us bring more enriching discussions your way.Have questions or topics you'd like us to cover? Reach out to us at https://www.coffeecommune.com.au/contact/. Enjoy this episode and as always, thanks for listening.-  Lease1 website: https://www.lease1.au/ - Bean There, Done That! Podcast: https://www.coffeecommune.com.au/the-new-bean-there-done-that-podcast/ - Contact The Coffee Commune: https://www.coffeecommune.com.au/contact/ 🎧 Produced by The Podcast Boss#LeaseMarket #LeaseNegotiations #LeaseOptions #RentalResearch #SiteSelection #DisputeResolution #RetailFranchising #PortfolioAdministration #LeaseReview #LeaseConcierge #OccupancyCostRatio #CBDCafes #FinancialDistress #ProactiveLeaseManagement #LeaseTerms #LeaseAdvice #LeaseSupport #LeaseRenewal #LeaseNegotiation #LeaseDocumentation #LeaseBenchmarking #LeaseConciergeService #LeaseCompliance #LeaseLegislation #LeaseStandards #LeaseTiming #LeaseMistakes #LeaseLandscape #LeaseMarketTrends #LeaseMarketChanges #LeaseConditions #LeaseChallenges #LeaseOpportunities #LeaseStrategies #LeaseInsights #LeaseAdvice #LeaseTips #LeaseRecommendations #BestPractices #LeaseExpertise #LeaseGuidance #LeaseSupport #LeaseSolutions #LeaseResources #LeaseInformation #LeaseEducation #LeaseConsultation #LeaseAssistance #LeasePartnership #LeaseCollaboration #LeaseCommunity #LeaseNetworking #LeaseConnections #LeaseWorkshops #LeaseBootcamp #LeaseSeminars #LeaseEvents #LeaseTraining #LeaseCoaching #LeaseMentoring #LeaseWebinars #LeasePodcasts #LeaseBlogs #LeaseArticles #LeasePublications #LeaseReviews #LeaseCaseStudies #LeaseSuccessStories #LeaseStrategies #LeaseInsights #LeaseTrends #LeaseUpdates #LeaseNews #LeaseAnalysis #LeaseForecast #LeaseOutlook #LeaseFuture

Moving Forward: Reinventing Yourself After Business Failure - With Arif Memis

Former owner of Cowch Dessert Cocktail Bar, Arif Memis joins Phil on the podcast to share his experiences and lessons from running a successful business that had to close in early 2023 due to financial difficulties. The pair discuss the challenges of negotiating leases and supply agreements, as well as the impact of regulatory issues. Arif also highlights the need for business owners to take care of their mental health and to find a work-life balance, with a newfound calling on helping others. Summary 💡[0:01:03] | Overview of the Cowch Dessert Cocktail Bar business[0:04:03] | Key triggers and turning points that could have been changed[0:06:01] | Importance of financial stability and managing finances[0:08:05] | Discussion on the balance sheet, profit and loss, and cash flow[0:08:34] | Delay in becoming vertically integrated due to cash flow issues[0:09:18] | Challenges faced in running a production kitchen[0:09:58] | Impact of external factors on the business[0:10:14] | Production facility and retail decisions[0:11:52] | Challenges with liquor licensing [0:13:43] | Legal and regulatory issues contribute to costs[0:14:08] | Importance of negotiating leases and supply agreements[0:15:18] | Importance of having lease agreements that suit your business[0:17:18] | Challenges and complexities of supply agreements[0:19:43] | Advice for struggling cafe owners: make rational decisions, take breaks[0:20:26] | Consider the financial viability of owning a business[0:20:36] | Seek advice and support from resources like The Coffee Commune[0:20:59] | Need to turn to industry professionals for advice and support[0:22:48] | Business planning should be practical and regularly updated[0:24:32] | Don't be busy being busy, make time to know your numbers[0:25:44] | Arif suggests implementing a tip system for staff in hospitality[0:27:46] | Wages haven't increased in line with what customers are willing to pay[0:29:18] | High wage costs are not sustainable for many cafes[0:30:07] | Example of cafe with high wage costs and breaking even[0:30:34] | High expenses exceed 100% of revenue without additional factors0:30:28 | Phil discusses the financial challenges of running a business.0:31:07 | Phil emphasises the importance of knowing your numbers and being empathetic.0:32:01 | Arif talks about the importance of mental health and work-life balance.0:33:24 | Arif encourages people to seek advice and talk to someone.0:34:00 | Phil shares his thoughts on mental health and work-life harmony.0:36:27 | Phil talks about the importance of learning from failures and moving forward.Episode Highlights 🌟Having a Solid Financial PlanOne of the key lessons Arif learned was the importance of financial stability. He relied heavily on debt to grow his business. He advises aspiring business owners to have a solid financial plan and a war chest of capital to weather any unforeseen circumstances. Taking a Step BackArif admits that he led with his heart instead of his head, which led to emotional decision-making and an inability to make the necessary cuts when needed. Arif advises business owners to take a step back and make rational decisions, even if they are difficult.Negotiating Leases and ContractsArif talks about learning the importance of seeking legal and practical advice when negotiating leases, as well as understanding the terms and conditions thoroughly.Increasing Wages in HospitalityOne of the most significant challenges Arif faced was the increasing wages in the hospitality industry. While he acknowledges that staff deserve fair compensation, he also highlights the difficulty of sustaining a business when wages consume a significant portion of revenue. Key Takeaways 🔑Financial stability is crucial for business success. Avoid relying heavily on debt and ensure you have a strong balance sheet, profit and loss statement, and cash flow.Negotiating leases and supply agreements requires careful consideration and expert advice. Be aware of the terms and conditions and seek legal and practical guidance.The hospitality industry faces challenges with rising wages and customer expectations. Business owners must find a balance between paying staff well and charging reasonable prices.Taking care of your mental health and finding a work-life balance is essential for making rational decisions and being the best version of yourself in both personal and professional life.Connect With Us 💌Share the wisdom from this episode with your network, subscribe to "Bean There, Done That!" and leave us a rating. Your insights and support help us bring more enriching discussions your way.Have questions or topics you'd like us to cover? Reach out to us at https://www.coffeecommune.com.au/contact/. Enjoy this episode and as always, thanks for listening.- Bean There, Done That! Podcast: https://www.coffeecommune.com.au/the-new-bean-there-done-that-podcast/ - Contact The Coffee Commune: https://www.coffeecommune.com.au/contact/ 🎧 Produced by The Podcast BossProduced By The Podcast Boss

Compliance 101: Understanding Legal Requirements and Regulations for Cafe Owners. With Robert Lamb From Hillhouse

Rob Lamb, principal and director of Hillhouse Lawyers, joins Phil on the podcast to discuss the importance of choosing the right legal structure for a cafe, the significance of shareholder agreements, and the legal requirements and regulations that cafe owners should be aware of. They also touch on intellectual property protection, compliance with health and safety regulations, leasing considerations, and the importance of understanding employment law.Summary 💡0:02:15 | Importance of choosing the right legal structure for a cafe0:04:59 | Importance of a shareholder agreement for partnerships0:07:57 | Legal requirements and regulations for cafe owners0:09:27 | Importance of protecting intellectual property in cafes0:10:48 | Legal rights and passing off of brand names0:11:46 | Importance of trademark and logo registration0:12:50 | Difficulty of registering unique names and phrases0:13:42 | Cost of defending oneself in legal disputes0:14:15 | Legal steps for health and safety compliance in cafes0:16:14 | Importance of asking customers about allergies0:17:26 | Need for permits and licenses in the cafe industry0:18:33 | Importance of insurance, including public liability and workers compensation0:19:48 | Directors insurance and buy sell agreements0:20:04 | Importance of having a good insurance broker0:20:02 | Importance of reading insurance policies and being proactive with legal responsibility0:21:05 | Key legal considerations for leases: term length and maintenance obligations0:23:45 | Value of a lease: one year with a five plus five-year option0:26:02 | Protecting against legal disputes with employees: familiarise with awards0:27:51 | Seek advice and support for employment law compliance0:28:36 | Proactive approach to terminating employees: follow defined processes0:30:28 | Seek advice before taking immediate action in difficult situations0:30:28 | Importance of seeking advice before reacting to legal disputes.0:30:57 | Most disputes can be solved without going to court.0:31:59 | Litigation is not only financially straining but emotionally draining.0:32:28 | Be proactive and seek legal advice if unsure.0:33:00 | Importance of supplier agreements and protecting against supply disruptions.0:34:00 | Consider power dynamics and terms of supplier agreements.0:34:35 | Automatic renewals and CPI increases in supply agreements.0:35:23 | Read and understand agreements, seek advice if needed.0:36:38 | Example of a well-structured supply agreement.0:38:05 | Emerging legal trend: proactive sexual harassment policies in employment.0:40:07 | Importance of understanding legal aspects and engaging a lawyer.0:40:22 | Proactive obligation to protect mental health in the workplace.0:41:11 | Small businesses expected to have same policies as larger companies.0:41:55 | Government should involve industries that don’t take government money.0:42:19 | Resources for legal advice: Google searches, industry bodies.0:43:34 | Don’t sign anything without reading and consulting professional advisors.0:45:00 | Importance of managers understanding legal responsibilities and obligations.0:45:23 | Government websites, Fair Work Commission, QLD Small Business Commission.0:46:54 | Aspiring café owners should understand legal aspects and seek advice.0:48:11 | Don’t react impulsively or send angry emails in important situations.0:49:40 | Rob’s involvement with Coffee Commune and Hill House lawyersEpisode Highlights 🌟Choosing the Right Legal StructureAccording to Rob, there is no one-size-fits-all legal structure for cafes. It is essential to consult with both a lawyer and an accountant to determine the best structure for your specific circumstances.The Importance of Shareholder AgreementsRob tells Phil that a shareholder agreement is crucial for protecting the interests of all parties involved and avoiding costly litigation in the future. He emphasises that spending a few thousand dollars on a shareholder agreement is a no-brainer compared to the potential costs of litigation.Compliance with Health and Safety RegulationsCafe owners operate in a heavily regulated environment, particularly when it comes to health and safety regulations. It is essential to be aware of and comply with these regulations to ensure the safety of both employees and customers.Protecting Intellectual PropertyIntellectual property (IP) is a concern for cafe owners, particularly when it comes to branding and menu creations. Protecting your IP can help prevent others from using your unique ideas and creations without permission.The Importance of Supplier AgreementsSupplier agreements are crucial for cafe owners who rely on unique products or ingredients. Having clear and comprehensive supplier agreements can help protect your business from disruptions and ensure a reliable supply chain.Emerging Legal Trends and ChangesThe legal landscape is constantly evolving, and cafe owners need to stay informed about emerging trends and changes that may impact their businesses.Connect With Us 💌Share the wisdom from this episode with your network, subscribe to "Bean There, Done That!" and leave us a rating. Your insights and support help us bring more enriching discussions your way.Have questions or topics you'd like us to cover? Reach out to us at https://www.coffeecommune.com.au/contact/. Enjoy this episode and as always, thanks for listening.Hillhouse website: https://www.hillhouse.com.au/- Bean There, Done That! Podcast: https://www.coffeecommune.com.au/the-new-bean-there-done-that-podcast/- Contact The Coffee Commune: https://www.coffeecommune.com.au/contact/legal structure, cafe, legal advice, IP, compliance, employment, supply agreements, leasing, proactive, shareholder agreement, liabilities, trademarks, copyright, insurance, permits, health and safety regulations, wages, workplace safety, legislation changes, Fair Work Commission, mental health, sexual harassment policies, psychosafety, government websites, Small Business Commission, resources, termination, legal disputes, supplier agreements, employment law, workplace health and safety, mental health protection, sexual harassment policiesProduced By The Podcast Boss

Adapt and Thrive in the Café Scene: Hospitality Survival Guide - With Joshua King

Joshua King, author of The Hospitality Survival Guide, joins Phil to discuss the current landscape of the cafe industry and share tips for surviving and thriving in this challenging business. They emphasise the importance of knowing your numbers, understanding your customers' needs, and delivering exceptional customer experiences. They also discuss the trends in marketing, such as leveraging digital platforms and embracing sustainability. The conversation highlights the need for cafe owners to adapt quickly and be proactive in addressing challenges.Summary 💡0:01:19 | Discussion on the current landscape of the cafe industry0:02:25 | Major changes in the cafe industry0:04:23 | Tips for surviving in the industry, including knowing your numbers0:06:07 | Importance of serving what customers want to buy0:07:54 | Available resources for cafe owners, such as profitability software0:08:59 | Importance of having a coach or mentor in the industry0:08:59 | Accountants need to look at numbers and plan forward strategically.0:09:35 | Mentoring and resources are available for cafe owners.0:10:42 | Asking for help and having a good support system is important.0:11:04 | Successful venue operators differentiate by knowing their customers and numbers.0:12:06 | Making small tweaks and building a culture of growth is crucial.0:13:15 | Trends include specific buying preferences and peacocking to stand out.0:15:01 | Successful businesses tell a compelling story and deliver consistently.0:16:08 | Digital presence and marketing on relevant platforms is important.0:16:50 | TikTok is a new marketing platform to consider.0:16:50 | Being current and adaptable is key for success.0:16:50 | Importance of being current on social media platforms0:17:10 | Importance of reviews and responding to them0:18:06 | Matching the digital experience with the real experience0:19:17 | Making payments easy and focusing on customer experience0:20:40 | Standing out in a flooded market through customer experience0:21:59 | Importance of friendly and motivated staff0:23:45 | Induction and ongoing training for staff0:24:41 | Job satisfaction and fulfilment for staff0:24:56 | Strategies to attract and retain staff0:24:58 | Challenges and opportunities in the industry[0:24:56] | Different methods of marketing on social media.[0:25:02] | Importance of knowing your numbers and customers.[0:25:32] | Every expense has gone up at the same time.[0:26:05] | Anticipating customer needs is challenging in the current landscape.[0:27:40] | Great service can win back customers, even with average products.[0:28:48] | Embracing sustainability and promoting it to customers.[0:29:38] | Capitalising on the growth of meal prep kits and food.[0:29:55] | Shift towards non-alcoholic drinks and plant-based proteins.[0:30:30] | Importance of financial preparedness and storytelling.[0:31:25] | Facing challenges head-on and finding solutions.Episode Highlights 🌟The Need To AdaptJoshua introduced the concept of "peacocking," which involves delivering a standout experience or product that captures the attention of customers. He emphasised the importance of understanding your market and catering to their specific preferences.Leveraging Social Media PlatformsWhen it comes to marketing strategies, Joshua spoke about the significance of a strong digital presence and leveraging social media platforms to connect with customers. He also highlighted the importance of online reviews and responding to customer feedback. Customer Experience: A Strong Team CultureJoshua spoke to Phil about the importance of customer experience and the role it plays in differentiating successful venue operators from those who struggle. He stressed the need for a strong team culture and the importance of training and engaging staff to deliver exceptional service.Key Takeaways 🔑Know your numbers and understand the financial aspects of your business.Focus on delivering what your customers want and build a connection with them.Utilise digital marketing platforms, such as Google listings and social media, to promote your cafe.Embrace sustainability and communicate your efforts to customers.Train and motivate your staff to provide excellent customer service and engage with customers.Connect With Us 💌Share the wisdom from this episode with your network, subscribe to "Bean There, Done That!" and leave us a rating. Your insights and support help us bring more enriching discussions your way.Have questions or topics you'd like us to cover? Reach out to us at https://www.coffeecommune.com.au/contact/. Enjoy this episode and as always, thanks for listening.-  Joshua’s book: https://www.oceanreeve.com/product-page/the-hospitality-survival-guide-how-to-survive-and-thrive-in-the-hospitality-ind  - Bean There, Done That! Podcast: https://www.coffeecommune.com.au/the-new-bean-there-done-that-podcast/ - Contact The Coffee Commune: https://www.coffeecommune.com.au/contact/ 🎧 Produced by The Podcast Boss#CoffeeIndustry #CafeIndustry #HospitalityIndustry #CustomerExperience #CustomerEngagement #CustomerService #CustomerNeeds #CustomerExpectations #KnowYourNumbers #FinancialManagement #StaffManagement #RecruitmentTips #TrainingTips #MarketingStrategies #DigitalMarketing #SocialMediaTips #Sustainability #ESG #Storytelling #SupplyChainChallenges #StaffShortages #MealPrepKits #NonAlcoholicDrinks #PlantBasedProteins #FinancialPreparedness #StorytellingInBusiness