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The investor in the coffee sector, Khaled Al-Modyan, reviewed a number of issues related to investing in this area.
He explained, during his meeting on the program “An-Nahar” on the Al-Ekhbariya channel, that the rate of cafes in the Kingdom is 258 cafes per million citizens, stressing that the goal is to achieve a rate of 1032 cafes per million citizens. .
He pointed out that the records of the Ministry of Commerce indicated that 16,000 coffee business registrations had been issued in the past three years, and considering the ratio of cafes to citizens, this means that the number of coffee shops has reached 7. 740.
He said that half of the cafes that received business records have actually closed, due to several factors, including the fact that cafes are among the cheapest food and beverage businesses, which encourages young people to participate in order to start the project, but they face other costs and the lack of money to run the cafe.
He underlined the importance for coffee to bring added value to its customers, especially in light of the competition that exists between cafes.
Video | Record-breaking coffee licenses in the Kingdom surpass 21,000 amid weekly shutdowns, and an investor in the “Khaled Al-Mudhayan” coffee sector: 50% of cafes closed due to high costs #new#day_news pic.twitter.com/K2Bdhk1WgD
– News channel (@alekhbariyatv) August 3, 2021
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