Worked at panda express for 2 years and General managers most Panda express store made 40% profit. Crazy good their system is amazing. I will never do such business with 5% profit margin
Panda is a great business! They don't franchise, own all the land and buildings and as far as I can tell spend VERY little on advertising. So I can see how they are very profitable! Thanks for the comment!
I would love to know how that goes! Some of my Sonics ran 20% profit, some lost money... but the average was about 10%. Please let me know how your profit turns out after you get a couple p&l's under your belt. Thanks for checking out my video!
@@therealpaulreiser I will, currently we are 45% food 55% beverage sales. Washington state minimum wage is currently $16.25 for tipped employees but I set us up to be efficient.
@@Restaurantrowein Sydney, labour cost is so high and business is not making money right now. I am not surprised if profit margin is 5% or lost. My business is coming soon and I hope 15% to 20%. Need to be very clever about staffs and train them to work effectively. That is a only way to save money in Sydney
He's luckier than most. Most coffee shop owners that I know make $70_000 to $90_000 of profit. Its basically a professional job. You're not going to get rich doing it.
3 locations that are lucrative. If you own your own land which is where you want to land you’d be making a hell of a lot more profit trust me. I know a roaster that has a coffee shop and he makes close to 500k a year just from the shop, wholesale and coffee supplies. It’s all about traffic and location.
Thanks for checking out the video! Your channel is so chill! Looks like a bald face guy like me can never be on your podcast, but it looks like you have some awesome guests! Do you ever talk to owners about their business and profit margins? Or just coffee and mustaches?
@therealpaulreiser mustaches are not required! We are more on the fun side of interviews. We don't di business guests as much as coffee shop owners, mustache competitions, pop culture topics etc. Your videos are on the fun side so you're welcome to join us sometime!
@@mustachesandcoffee That could be fun! We could talk about the challenges of serving good coffee in a QSR, it is a big challenge. Regardless, thanks for saying hi!
This short is made up of short clips from a long video on Upflips channel. In the full video he says how much his sales are. About $6 million in total.
I watched the long video and it sounds like the owners are in a lot of debt. When you don't own everything outright and finance all of your stuff, it has a huge effect on the bottom line.
That is the net profit (the profit after all bills are paid). You are most likely thinking of gross profit, which is just revenue minus cost of goods sold.
Interviewer: what’s your profit margins? Owner: wanna hear a long ass story before I tell you the net? Also, forget the gross profit. Interviewer: REALLY?
We've been loving watching your channel as well. :) The shorts are taking over my feed.
Wow, that's awesome! Thanks for sharing!
Worked at panda express for 2 years and General managers most Panda express store made 40% profit. Crazy good their system is amazing. I will never do such business with 5% profit margin
Panda is a great business! They don't franchise, own all the land and buildings and as far as I can tell spend VERY little on advertising. So I can see how they are very profitable! Thanks for the comment!
correction... I just found out they have started franchising! But only 7% of their 2,300 locations are franchise owned.
I just opened my first coffee shop and think those profit numbers are low. My goal is 20% net profit. Need my prime cost to be around 50%
I would love to know how that goes! Some of my Sonics ran 20% profit, some lost money... but the average was about 10%. Please let me know how your profit turns out after you get a couple p&l's under your belt. Thanks for checking out my video!
@@therealpaulreiser I will, currently we are 45% food 55% beverage sales. Washington state minimum wage is currently $16.25 for tipped employees but I set us up to be efficient.
@@Restaurantrowein Sydney, labour cost is so high and business is not making money right now. I am not surprised if profit margin is 5% or lost. My business is coming soon and I hope 15% to 20%. Need to be very clever about staffs and train them to work effectively. That is a only way to save money in Sydney
@@Restaurantrowe Whaaaat! Those are your profit margins? The dude said that the industry standard up to 6.8%. How did manage that?😮
20% is wild... I won't say it's impossible, but nearly so.
He's luckier than most. Most coffee shop owners that I know make $70_000 to $90_000 of profit. Its basically a professional job. You're not going to get rich doing it.
He has three locations so that's kind of in line with what you're saying
3 locations that are lucrative. If you own your own land which is where you want to land you’d be making a hell of a lot more profit trust me. I know a roaster that has a coffee shop and he makes close to 500k a year just from the shop, wholesale and coffee supplies. It’s all about traffic and location.
@@bassidd6092 why renting is bad
Very interesting. No doubt coffee in Seattle is going kill it but crazy.
Thanks for checking out the video! Your channel is so chill! Looks like a bald face guy like me can never be on your podcast, but it looks like you have some awesome guests! Do you ever talk to owners about their business and profit margins? Or just coffee and mustaches?
@therealpaulreiser mustaches are not required! We are more on the fun side of interviews. We don't di business guests as much as coffee shop owners, mustache competitions, pop culture topics etc. Your videos are on the fun side so you're welcome to join us sometime!
@@mustachesandcoffee That could be fun! We could talk about the challenges of serving good coffee in a QSR, it is a big challenge. Regardless, thanks for saying hi!
How did you come up with the $6 million in sales figure?
This short is made up of short clips from a long video on Upflips channel. In the full video he says how much his sales are. About $6 million in total.
@@therealpaulreiser Oh!! That makes it! Thanks a lot for your response! Cheers!!
That seems like a low profit margin for a coffee shop
it's not, most of them are sitting at 3 or 4% if they're lucky
I watched the long video and it sounds like the owners are in a lot of debt. When you don't own everything outright and finance all of your stuff, it has a huge effect on the bottom line.
That is the net profit (the profit after all bills are paid). You are most likely thinking of gross profit, which is just revenue minus cost of goods sold.
Interviewer: what’s your profit margins?
Owner: wanna hear a long ass story before I tell you the net? Also, forget the gross profit.
Interviewer: REALLY?
$16k for rent? lol crazy
Only need to sell a few thousand cups of coffee to pay the rent...