So, I think I finally figured out that I made a stupid mistake.
I went after the wrong demographic. I wanted a hip, cool tea bar instead of an old ladies tea house. So I went after the college kids, and now I`ve got them. The problem is that they are pretty much broke. They will buy tea beverages all day long, but they won`t buy a pouch of bulk tea or any tea accessories to save their life. The problem is that it takes entirely too many $2 cups of tea to pay the rent. And it seems that the middle aged housewives and older tea enthusiasts are intimidated by the party-like atmosphere I created to attract the college kids.
So, I realize now, after a little over a year in business, that I went after the wrong market. The thing is that this group is really not going to be able to support the business, but neither can I afford to chase them off and start over. So, I`m looking into some other means of establishing other streams of revenue for the business. We are actually one of only a handful of places in the country that blends, flavors and packages our own brand of tea. We have over 200 varieTEAs and enough margin to offer the teas at wholesale. So, I am looking at dressing up our packaging and selling our teas to other gift shops and specialty food stores in town as well as to restaurants in filter packs for iced tea, and I have also been thinking a lot about the possibility of starting a home party plan with the teas.
I`m in that place where I am extraordinarily discouraged by my own short-sightedness and I`m not sure what I should pursue next, if anything. I would love to hear from you guys which, if any, of my ideas sounds the most promising; any advice you have for tackling such undertakings; and any other ideas or suggestions you might have.
Chief Executive Zoomdweebie
Zoomdweebie`s Tea Bar