Set Up a Café Food and Beverage Business in the United Kingdom
Earn your bread and butter with 3E Accounting’s how to set up a café food and beverage business in the UK.
The modern café culture is a necessity in today’s social and community needs. It’s a status symbol of sorts, a place to be seen, to hang out, work and play. Coupled with some great food and beverage, your café can be the next big thing on high street. It might just be handy to know how to set up a café food and beverage business in the UK. As far as business ideas go, this one’s an ace for savvy entrepreneurs and coffee connoisseurs alike.
An Essential Business
Business trends may come and go, but cafés have stayed the course throughout history. From as early as the eighteenth century, cafés have been sprouting all over Europe. Pre-pandemic figures show that there were more than twenty-six thousand food and beverage (F&B) establishments in the United Kingdom. While this figure dipped during the subsequent lockdowns, the pace is slowly but surely picking up.
To get started, it’s best to address the elephant in the room, which in this case is the business plan. Some due diligence will enable you to put together a sound business plan with forecast financials. Your plan should give you some hard facts on location, competition, options of buying or leasing premises, etc. Most importantly, your financial plan will indicate how much start-up capital you may need.
You will then know whether you want to operate as a sole trader or partnership or incorporate as a limited company. Incorporation has the advantage of creating a separate legal identity for your company. This will then limit your liability. However, a sole proprietorship is cheaper and faster to set up and ideal in letting you be your own boss.
Conversely, you may prefer to go with a franchise option instead of having your own brand. Whichever route you take, you will need to register for taxes with HMRC. The next steps will include getting a bank account and setting up a secure e-payment gateway.
Consider engaging professional help for your website design and development, as well as trademark licensing your brand of the business. It’s also best to be meticulous in keeping records of all financial transactions. This will make it easier for an auditor to do your statutory and non-statutory audits.
As your business will be handling food and beverage, there are extra regulations to take note of. You will need to register with your local authority as a food business, get food premises approval and food hygiene certificates. The Food Standard Agency website has further guidance and information on starting a food business.
A new business venture can be exciting, but it’s crucial to get things right from the get-go. 3E Accounting can guide you on how to set up a café food and beverage business in the UK seamlessly. Our team of company formation experts have years of industry experience that will ensure everything slots into place smoothly. Our affiliates and partners specialise in regional business solutions, augmented with years of global industry expertise. Contact 3E Accounting today for customisable and innovative solution packages for all your business needs and beyond.