Kitchen capital | A conversation with Beth Tracy, owner of Beth's Kitchen Café in Bridgton
Photo/Courtesy Beth's Kitchen Cafe
Beth Tracy, owner of Beth's Kitchen Cafe
Founded: July 2008
Number of employees: Four part-timers in the winter, six in the summer
Startup costs: $21,000
Projected revenue, year one: $157,050
Projected revenue, year two: $165,372
Contact: 647-5211
82 Main St., Bridgton
www.bethskitchencafe.com
Why did you decide to open Beth’s Kitchen Café?
My daughter and I went into the space when it was owned by somebody else just to get a cup of coffee, and when I walked in I got this overwhelming feeling that it had so much potential. I noticed that it was closed a lot when I would drive by and lo and behold [the owner] wanted to sell it, so when I found that out I couldn’t refuse the opportunity. The space just spoke to me and I knew I could put my menu in there and just do so much more. I really believe in Bridgton and they didn’t have a place where there was really nice coffee, homemade baked goods, homemade soups, fresh ingredients, fresh vegetables, really nice artisan breads and a fair price — just a nice atmosphere.
Have you owned a business before?
Growing up I always did little entrepreneur things and working for myself has always been a dream. I managed Lampron’s Lil Mart in Bridgton, where I worked for 10 years and established my reputation in the area. They were doing about $241 a day in food alone and by the time I left we were doing over $800-$1,000 a day in food alone. I was in charge of making the food and making sure that it was consistent when I wasn’t there. People came for the service and because we had good food and good coffee.
How did you finance this business?
My husband and I had a mutual fund that was in decline, so we took it out of the market and at the same time we took it out, this opportunity was unfolding. So we decided to take a chance and that’s how we financed it.
How do you market your business?
Through my website, my reputation in the area for the last 10 years, word of mouth, local papers and area guides and also donating what I can to local organizations through gift certificates and things like that.
What have you learned in running your business?
Definitely trust your intuition. [I have learned] to keep your passion — even though a lot of the business world is cut and dry and it’s number-oriented, don’t lose the passion for your vision. I’ve learned that the hard work rule never changes: If you’re willing to work hard and you’re passionate about what you do, you have a good chance of making it.
What’s the biggest challenge with owning this business?
I think the biggest challenge continues to be managing the cost of doing business. There are so many things that are uncontrollable like taxes and the cost of electricity, so minimizing controllable and uncontrollable costs. I look at numbers; I look at what I make every day. As soon as the year passes, I’m going to look at what it costs me to run every day. Also, making sure that my prices are where they’re supposed to be, which I struggle with because I don’t want to be overpriced, I want to keep that as fair as possible.
How do you stay competitive?
I think for Bridgton it’s hard to grab and keep customers, so anything in the area could be competition. When I first started there were some restaurants and delis that I admired and I checked them out and looked at their prices and product and I knew I could do a quality menu and bring my price down a bit. I listen to customers and if I hear something they want, I make it.
How has the economy affected your business?
People are willing to spend money on something that they feel is worth it. When people come into my place they spend the extra money on a whoopie pie or a chocolate torte or the coffee I serve, which is from a local brewer. People are careful with their money but they’re going to spend it if it’s worth it. I haven’t seen too many people grimacing at my prices. As far as I’m concerned, if I see regular customers and new faces every day, especially through the winter, then I’m doing something right. When I have my first and second year under my belt, then I’ll really scrutinize what my growth is. Right now I’m getting to know my customers, testing different things and allowing myself to get creative.
Interview by Mercedes Grandin
New Ventures profiles young businesses, 6-18 months old. Send your suggestions and contact information to editorial@mainebiz.biz.
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