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High demand for coffee shops in the South West

Posted: Wednesday 25 April 2018

The past 6 months has been somewhat of an uncertain time for many, deciding whether to invest in projects, buy that dream house, or even go on European holidays, however, the growing demand for all things coffee continues to thrive, even amidst economic uncertainty, a humble cup of coffee is a daily ritual that many Brits cannot do without.

New research has found that around 3 new coffee shops open every day in the UK, reaching a total of some 24,000 outlets, this growth sees the number of UK coffee shops set to overtake pubs by 2030. The UK coffee shop market turnover grew by 7.3% in 2017 to £9.6bn, continuing as one of the UK’s most robust business sectors and there is no sign of the UK’s love affair with coffee faltering.

With coffee outlets springing up all over the country, there is now an abundance of choice for the consumer and coffee shops have now established themselves as the mainstay of UK high streets. The big three coffee chains make up just 19% of the UK market, with independent coffee shops and cafes still as popular as ever.

Off the back of this growth, Westcountry based business sales advisors, Charles Darrow is experiencing strong demand within the sector, and recent sales include Fat Lemons Café in Totnes, which sold for a figure close to the asking price, this transaction marked the agents third successive cafe sale in Totnes.

Charles Darrow is currently handling the sale of Quayside Coffee Shop on Exeter’s historic Quayside and after just a few weeks of being on the market, multiple offers for the business have been received and the business is now under offer.

James Sanders, associate director at Charles Darrow commented; “We are entering an exciting new era in the coffee shop industry, one that is based on a culture of excellence, addressing the rapidly changing market trends is imperative to independent businesses and leading chains will need to adapt or risk getting left behind.”