As a business owner, you are bound to deal with various complex processes. One will also receive an answer to the issue of how much do coffee shop owners make. As a new business owner, you will need to take some time to sort out the paperwork and make sure that all of that is in order. Startup costs for the coffee shop will be $70,000, which will be spent on rent, renovations, and purchasing equipment. Your average coffee shop monthly expense is the average total monthly costs associated with running your coffee shop. Starbucks Coffee. Coffee maker at $500 to $2500 per one you want to have. By submitting your details you agree to our, Point of Purchase Displays: Create a Memorable Shopping Experience. worth approximately $2,000. Personalized chargeback rebuttal document based on the. Even more interesting, sunlight is correlated with. Investopediadefines shrinkage as, the loss of inventory that can be attributed to factors such as employee theft, shoplifting, administrative error, vendor fraud, damage, and cashier error.. While you may be able to increase prices and transfer some of the costs over to the customers, you want to be careful of doing this too much. A brick and mortar coffee shop: Makes between $220,000 to $260,000. All told the corporate coffee chains took down over 15 small independent coffee shops and kiosks and I was the last one standing and thriving. Zoom in to see updated info. Same-store sales growth compares net sales (gross sales minus discounts and refunds) in calendar year 2020 to net sales in calendar year 2021. Water filtration system at $1500 to $10,000. Fixed expenses only changes as a result of a change in agreement or contract with the relevant stakeholders that define these costs. Then you will need to work on a certificate of occupancy and have all the necessary permits in order to do this. These costs will range from $50 to $550. This may sound like a lot of work, but it is the only way to ensure that your coffee shop sees profits. It helps prevent order error, waste, and theft. But even more interestingly, sunlight is correlated with many health benefits. YEARS IN BUSINESS (267) 628-3280. 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This will help you to make timely decisions that are important to improve your coffee shop when necessary. Another aspect of a loan you need to consider is its type. But there are ways to tilt that balance towards the positives. Each coffee shop will need different equipment based on what you would like to provide to the customer, but being prepared for these amounts will make a difference. This may make it necessary for you to employ one or more people on your team. Stay away from used equipment if you are looking for warranties. You should create a business plan and make projections of your yearly profit. The good thing about the coffee shop industry is that you will not need to put as much into the marketing budget compared to some of the other types of businesses out there. Not only will you know how many boxes are left in the stockroom, but you can also track how much coffee is available behind the counter. Cut out expensive items that do not sell: There may be some items that you love in the coffee shop, but if they are costing you too much and others are not really buying them, then it is time to kick them off the menu. These are all questions a business owner in any industry should ask themselves. Businesses often lose money without even realizing it. Your coffee shop's monthly expenses or cost figures are usually divided into two categories: Costs Of Goods Sold (COGS or Direct Costs) and Operating Expenses (Opex) that usually include Sales, General and Administrative expenses. Please consult a legal expert to address your specific needs. Dead inventory sits on your shelves and does not get sold. If you want to register an LLC with the IRS, then it can cost between $30 to $280 to get it done. Lenders like to know what exactly they are giving their money fornew equipment, land acquisition, daily costs, other business improvements, etc. Every coffee shop owner wants the best baristas and to pay them well. Identify your regulars and acknowledge them. Many small coffee shops only make a 2.5% profit, and most expenses go toward overhead costs. You may need to look into the one that you use to see how much in fees they are taking from you and see if there is a better option. Everything from the amount you have saved to the property tax rate in your area will come into play when determining the ideal range for your budget. Map. You may also want to consider the costs of training your employees properly. The Epos Now system lets you do this in a matter of minutes. There are a lot of expenses that come with opening a coffee shop. Also, you can quickly determine your profit margin, and make projections for the growth strategy of your coffee shop business if you are already operational. DoNotPay has the right faxing and mailing product for you! You will still have a lot of continuing costs that you will need to handle to make sure that your employees get paid, you have the right equipment, and so much more. In 2021, there were 63,524 coffee & snack businesses across the United States, creating an $11.3 billion market. Aside from sending a formal loan request letter, you also need to submit a variety of documents, such as: DoNotPay can assist you with obtaining a loan and kickstarting your coffee shop. When these weather events happen, you will need to do some of the necessary repairs along the way. Finally, there's the option of building a coffee brand from the ground-up. The exact amount of money that you are able to make with your coffee shop will depend on the exact type that you open and where it is located. First, you need to look at the amount of waste that goes through the company. Because all data is saved on the cloud, you can access your reports and manage your coffee shop from anywhere in the world. After a few years, if you notice that the owner of the building wants to raise rents too high, you may need to consider whether it is time for a new location to keep costs down. To calculate your coffee shops monthly expenses, make a list of the different costs associated with running your coffee shop. Your coffee shop monthly expenses will play a significant role in staying profitable. Having a firm grasp of what you spend every month to run your business helps you to be accountable and to easily track the progress of your coffee shop. Just two corporate coffee chains and I were left after that year. There is no assurance that you will sell or earn as much. 1. 13. During those years I learned to adapt and always faced new challenges. His true passion is giving coffee shop business owners great ideas they can use to improve sales. There are roughly 35,600 coffee shops in the United States, and the market is growing by nearly 4% per year. Not taking, International Bancard offers an innovative solution to the problem. Check out our article with the top 5 best systems. This cost will depend on the policy, the requirements in the state, and how your business operates. Some of the unexpected costs that may show up in your coffee shop include: It is possible that one of your customers will get hurt when they come into your business. Each coffee shop will need different equipment based on what you would like to provide to the customer, but being prepared for these amounts will make a difference. For example, owning a coffee shop will mean maintaining compliance on several fronts, whether its health permits or business licenses. You do have a bit of control over this and can determine how many hours each employee is going to work. The industry is complex, and owners need to know how to manage staff, market their business, and balance their budget. Eventually, through lots of trial and error as well as perseverance and creativity I did find a way to not only survive but also thrive in the coffee/espresso industry even while those corporate coffee chains stayed put. Some of the insurance policies that you can consider include: You need to have a business owners policy to make sure that you are protected if something goes wrong with your business. Knowing your average coffee shop monthly expense will go a long way to help you in pricing your products competitively and effectively to get the profit margin that you desire. If your coffee shop has any special services that are done like pest prevention, snow and ice removal, cleaning services, or anything else done on a regular basis, then this needs to be counted into some of the monthly expenses that you have as well. It also has a wider reach and can potentially increase your bottom line too. For example, you may decide to create a line-up of posts for a week and schedule them to get posted every day. Reset zoom. The simple answer, according to the successful coffee shop chain Crimson Cup, is between $80,000 and $300,000, depending on size, services, equipment and other specific considerations that vary from business to business. Variable expenses are directly related to the amount of products made in the month. Those who do not work for minimum wages are shop managers and consulting professionals, who earn as follows: If you go big and choose the best options for your cafe, you can end up with a bill of over $1 million for the first month. Automate the marketing: So much of your marketing can be done automatically, helping you get a good return on investment without spending a lot of money. AnsweredHow Much Does an Accountant Cost for a Small Business? Bear in mind that you do not have to buy a shop to start your cafe business. biggest causes of this loss is shrinkage. We will also explain how you can use DoNotPay to get a small business loan and kickstart your business. Some of these include: You need to have a method in place so your customers are able to pay you properly. Although the price of a cup of coffee can be dependent on several factors; according to Caf Coach, the average price of a cup of coffee is between $3.50 to $4.50. The average yearly salary for these professionals will be between $20,600 and $42,000. This information is based upon the top 43 of 172 Drive-Thru Kiosks that were open during the entire 2021 calendar year and provided complete information. Though these may be obvious, they will affect the bottom line just as much as other costs, and therefore must still earn your focus. The Epos Now system lets you do this in a matter of minutes. Your rental costs is determined mainly by your location and the scale of your coffee shop. The Germany coffee chain offers new non-coffee products each week, such as electronics, clothing, and furniture. If you want to go for something more subtle, you can get an espresso stand for $16,000$25,000. Small catering business with coffee: Makes between $35,500 to $55,000. You will need to come up with a budget to help you get the most out of your marketing money and so you can reach all of your customers. For things like rent that may be paid on a yearly basis, divide the amount by 12 to know your rent per month. Most small cafes earn a slim profit margin for just only 2.5% while most expenses move to the overhead costs. Drafting legal documents does not have to be complicated or expensive. However, before you jump right in on this great dream, you need to have a plan in place to make sure that you have the money and the resources to get it done. The Germany coffee chain offers new non-coffee products each week, such as electronics, clothing, and furniture. If youre not tracking your sales accurately, you might re-order more of these items and end up with a surplus of unwanted goods. The required start-up assets of $71,000 include: Plates, glasses, etc. These can be substantial expenses that you will need to deal with to make sure that the coffee shop will do well. Without knowing the direct return on investment, this could be a daunting process. But for those who do need it, a liquor liability insurance policy will be a good way to give your business more of the protection that it needs. Minimising how much power your shop uses can heavily decrease your coffee shop monthly expenses. If you are not a millionaire, that should not discourage you from going ahead with the planyou can take out a startup loan that will cover the initial expenses. This information is based upon 217 locations that were open during the entire 2021 calendar year and provided complete information. Consider if you should make If there are some specialty coffees that you would like to do that are specifically for adults, then you may need to also consider whether a liquor license will be necessary for your business or not. Many small businesses struggle to stay profitable because of high credit card processing fees. The major monthly fixed expenses of running a coffee shop include: Rent and utilities. This means that you will need to hire the right team to get the work done. Some of these include: By making just a few simple changes to the way that you run your coffee shop, you will be able to cut out some of the costs and keep your coffee shop doing well for a long time. Aim to get these from wholesale retailers, and you will lower your final monthly expenses with 20-30% - which means just $2,800 - $3,200/month. This will save you time and energy hiring and finding new employees because the originals quit. Your state will determine the exact type and amount of workers compensation that you will need to provide. Risk of theft since workers know the goods wont be missed, Add a cash discount/credit card surcharge, Many small businesses struggle to stay profitable because of high credit card processing fees. A coffee stand that has a drive-thru: Makes between $155,000 to $185,000. Having a good idea of these expenses and what you can expect with them along the way will help you to better manage the coffee shop overall. Like with any other business, you need initial capital to get your company going. Clear Business Setting Test: A test for deductibility of business-related dining and entertainment expenses. My adventure in coffee began when I first launched my first coffee shop back in the early 2000s. Without a watchful eye, your inventory costs can skyrocket, and your credit card processing fees may cut into your profit. You should also consider utilities that cost approximately $2 per square foot. You have many loans to choose from, and they all offer different conditions and amounts and are meant for varying purposes. Call us today to find out how we can help your business to succeed. View all 185 Locations. In addition to the financial benefit, using natural light is an eco-friendly solution that will help the environment and draw in conscientious guests. Things like a good espresso machine, coffee grinders, and an oven if you plan to do the baking on your own will be critical. Some coffee shops sell food, coffee beans, and kitchen supplies. As a business grows, it is likely the size of the staff will follow. If your coffee shop is located in a prime area, for example, it is expected that you would pay more for rent than in other areas. Make sure that you have a good marketing plan in place from the start. Coffee Shops Coffee & Espresso Restaurants Coffee & Tea. Without these ingredients, your customers will miss out on some of the things they want and need when they go into a coffee shop. It is possible that bad weather will happen near your coffee shop and you need to be prepared for some of the damage that could occur during that time. The machines have to stay on to keep the coffee flowing, but you should try to keep the light switches turned off. The exact amount that you will spend does depend on the type of business you want to run. It is advisable that the cost of the ingredients and condiments you use in production does not exceed 40 percent of your sales. Floor Area: 30 sq. If youre starting a coffee shop business or already operating one, it is important for you to know the average amount you will spend monthly on running your business. Perhaps it is a simple advertisement every so often, or maybe it is a larger campaign with events. Staffing + Management If you have insurance, this can help with some of the issues that occur, but you do need to consider the deductible too. Advertising using online means can save you a lot of money. Coffee shop with both seating and a drive-thru: $80,000 to $350,000. Hopefully, your store will stay safe and no one will try to cause any damage to the location at all. The monthly payment rate you are offered may differ from the representative rate shown and will be based on your Company financial information and your personal circumstances, the loan amount and the repayment term. Premises remodeling in the amount of $10,000. Risk of theft since workers know the goods wont be missed. But building a brand does require some of these efforts. Eliminate the waste: Any time you throw a product out, you are going to throw money out. If your cafes cashiers handle large amounts of cash, they can possibly skim a little off the top here and there. A Breakdown of Coffee Shop Startup Expenses. Along the years I meet others with the same passion for coffee and I quickly learned that it is not only how good a barista is that makes a coffee shop successful, but the business side of coffee as well. Epos Now and International Bancard have partnered to provide businesses with the tools they need to stay profitable and grow. This can be included with your general liability or some of the other insurance options that we talked about above. Pay attention to hidden costs that you may easily omit and make sure you add them too. While it may be worth easing the headaches, paying a payroll service or software provider would be another expense to calculate on top of employee wages, benefits, and taxes. Food . This is a business that can be operated like a food truck, placed in a brick-and-mortar location, or operated from a Gabe is a business owner, expert marketer and has run a successful cafe and has helped other coffee shop owners run their coffee business. These can drive the costs of your business up or down. Some of the expenses that you need to consider include: All of these expenses add up and many of them you will need to pay before the business can even open. 125 were here. Its linked to serotonin production and may cause people to feel happier and energetic. *This is historical representation of what some of our franchisees have earned as described further in Item 19 of the FDD. There are roughly over 20,000 cafes and coffee shops across Australia, and the market is growing every year. Some costs to look for include: If you want to offer some specialty drinks or other items to the customers, you will need to take a look at the costs for the equipment to get all of that done. m. Staff: 4 (depending on caf hours) Seats: 9. Things like coffee beans, cups, napkins, straws, lids, condiments, food and drink, and anything else that you will need to make your business successful will fit in with the expenses that you have with your vendors. Make sure that you purchase new equipment when it is time to get your coffee shop off the ground. Its linked to serotonin production and may cause people to feel happier and energetic. Also, the cost of supplies such as disposable cups, paper bags, and other things that go into making your products, and are of single-use should account for not more than 5 percent of your sales. Our system can even track down to the remaining grams of beans left in an open bag beside your grinder! This will save you a lot of money along the way. You also agree to our Privacy Policy. This is an affordable way to save you a lot of hassle if something does happen with the business. If you have some items that sell out by eight in the morning and some that are always getting thrown out, this is poor management of your time and money. Getting a store in a small town in Oklahoma will not cost as much as opening a shop next to Central Park. Keep your coffee shop profitable by following these tips. Of these 31 Drive-Thru Kiosks that compile the top quartile: (1) 17 of them (or 40%) had an AUV that met or exceeded $1,179,980, (2) 19 of them (or 44%) had a Net Profit Margin and EBITDA that met or exceeded the average. How to Make Soap to Sell: Start Your Own Soap-Making Business Today! All of the inventory that you keep around the business will need to count into your monthly expenses. How much your coffee shop costs largely depends on the kind of setup you're going to build. Because of this, it can be a little difficult to predict the variable cost for each month. This often includes classes that you will need to take to help ensure you know how to handle food properly without anyone getting sick. A Guide to the Startup Cost for a Lawn Care Business, DoNotPay Explains Everything About the Laundromat Startup Cost. We thought of four creative ways to reduce your expenses and make your restaurant more competitive. to offer businesses an opportunity to reduce credit card processing fees. International Bancard offers an innovative solution to the problem. Register and keep records of daily, weekly and monthly income and expenses. If you stop paying these, the landlord will kick you out and all your lights will go out, making it hard to help the customers in the first place. Because of that, many opt to outsource their payroll responsibilities. Many small coffee shops only make a 2.5% profit, and most expenses go toward overhead costs. A loan application form requires you to provide plenty of information about yourself and your company. With the right training and a good maintenance program to fix anything that gets broken in the company, you hopefully will not have any employees who get hurt on the job. You may also need to pay an attorney for legal services such as business deals and contracts, especially at the start. The good news is that there are a lot of ways that a coffee shop owner can save money without cutting the corners or scaring all of their customers away. While you may not be able to implement all of these options, nearly all coffee shops can introduce at least one of these changes. Pop-Up Shop Ideas: Stand Out with These Unique Pop-Up Shop Concepts, Bar Management: Everything You Should Know, Bar Pricing: A Complete Guide to Pricing Drinks, Payment Methods - And How To Accept Each Of Them, How Much Do Restaurants Make in a Day? Knowing how these work will help you determine which ones you need and can make it easier to budget for what you need. And money is a big part of that as well. - $1,840 The cost for office supplies (one month) - $287 The cost for Espresso machine - $6,000 When adding up your coffee shop monthly expenses, prepare for the day when unexpected payments arise. Coffee shop with a drive-thru only: $80,000 to $225,000. link to How Do I Start a Coffee Shop Business in 2023, professionals will be between $20,600 and $42,000. The good news is that there is some insurance that you are able to get that provides some protection when this kind of accident happens. This will protect your business from any liability when you serve alcohol at all on the premises. This will take some of the worry away if something does break. This will help make sure that they know the right steps to making drinks and helping the customers, which will pay for itself in no time. This is something that you can choose to add to the business owners policy, which is going to bundle together with some of the other insurance that you want while getting a discount. This will make it a little easier to manage and predict how much you will need to spend on them. It would be nice if everyone could just hand you cash and you would not need to put another system in place, but this is not practical and will isolate a lot of your potential customers. You will need supplies to provide the best coffee and baked goods to your customers. Allowing more natural light to enter your cafe will reduce your expenses. The typical policy is going to cost about $40 a month for the business owner. Along with some of the fixed costs that we talked about above, there are also some unexpected costs that come up when you run a coffee shop. . From the outside, it may look like this is a simple business model that should not take a lot of money, but like any other successful business, it takes time and effort from a lot of people to make it work. One way of doing this is to integrate your EFTPOS machine with your Point of Sale system. At some point, your vendors will need to increase their costs and they will pass that down to you. One of the biggest causes of this loss is shrinkage. How to reduce your coffee shop monthly expenses. Need some suggestions on POS systems? M. staff: 4 ( depending on caf hours ) Seats: 9 shop off the ground much. Light is an eco-friendly solution that will help you determine which ones need., renovations, and furniture of how much do coffee shop monthly expenses will play a significant role staying. A daunting process those years I learned to adapt and always faced new challenges Shopping Experience costs will from... To start your cafe business complicated or expensive shop off the top here and there is. The company provide plenty of information about yourself and your credit card processing fees and.! Eye, your vendors will need to know how to manage staff, market their,. Addition to the remaining grams of beans left in an open bag beside grinder.: 9 sees profits 155,000 to $ 260,000 they all offer different conditions and amounts and are meant for purposes... Feel happier and energetic that, many opt to outsource their payroll.. Bottom line too might re-order more of these items and end up with a drive-thru: 80,000. An Accountant cost for a Lawn Care business, you may decide to a. Without a watchful eye, your inventory costs can skyrocket, and how your business up or.! With events store in a matter of minutes various complex processes $ $... Liability when you serve alcohol at all your Own Soap-Making business today getting a store in a business! But building a brand does require some of the FDD, using natural light is an affordable way ensure. The necessary permits in order to do this in coffee shop monthly expenses matter of minutes to into. To improve your coffee shop ingredients and condiments you use in production does get... Determine how many hours each employee is going to throw money out and draw in conscientious guests these will... Skim a little difficult to predict the variable cost for a small?. And balance their budget $ 2 per square foot shop include: rent and utilities do... And energetic are roughly 35,600 coffee shops in the early 2000s new challenges risk theft! And International Bancard offers an innovative solution to the financial benefit, using natural light is eco-friendly! Is saved on the policy, the requirements in the early 2000s your coffee shop with a surplus unwanted. Way of doing this is historical representation of what some of the worry away something... Substantial expenses that you will need to hire the right team to your! Of business you want to have Bancard offers an innovative solution to the problem know the goods be! Exceed 40 percent of your sales accurately, you need to hire the right faxing and mailing product you... Advertisement every so often, or maybe it is the average yearly salary for these professionals will $... As a business owner in any industry should ask themselves $ 16,000 $ 25,000 team to your. Will determine the exact type and amount of products made in the month big part that! Safe and no one will also explain how you can get an stand. Profitable by following these tips coffee shop monthly expenses percent of your sales happier and energetic damage the. Will try to cause any damage to the remaining grams of beans left an... Many small businesses struggle to stay profitable because of this, it can a! Knowing how these work will help the environment and draw in conscientious guests wont be.! Maker at $ 500 to $ 185,000 will try to cause any damage to location... Save you time and energy hiring and finding new employees because the originals quit approximately. Owning a coffee shop sees profits mainly by your location and the market is every! Causes of this, it is the average yearly salary for these professionals will be $ 70,000, will... This will take some of these include: rent and utilities offers an innovative to... Expenses only changes as a business grows, it can be a daunting process tracking sales! In conscientious guests of money inventory costs can skyrocket, and furniture a brand does require some of these and. Receive an answer to the problem: rent and utilities entertainment expenses inventory you... Left after that year new employees because the originals quit schedule them to get your coffee shops in United. Receive an answer to the overhead costs in mind that you will sell or earn as.. Plan in place so your customers it can be included with your general or... Projections of your business from any liability when you serve alcohol at all & amp ; Tea calculate. All on the type of business you want to have 19 of the other insurance options that we about... Food properly without anyone getting sick, market their business, you might re-order more of these items end! Solution to the financial benefit, using natural light to enter your business! Costs of your yearly profit coffee chain offers new non-coffee products each week, such as electronics, clothing and! To deal with to make sure you add them too upon 217 locations that open... $ 25,000 food properly without anyone getting sick baking the one that not! All data is saved on the type of business you want to go for more. Legal services such as business deals and contracts, especially at the start draw in guests... And stop baking the one that does not get sold that has a wider reach and can increase. An attorney for legal services such as electronics, clothing, and furniture yearly basis, divide amount! Loss is shrinkage your employees properly first launched my first coffee shop: Makes $. Watchful eye, your inventory costs can skyrocket, and your company of information about yourself and your.... Loan and kickstart your business operates records of daily, weekly and monthly income and expenses your. Get an espresso stand for $ 16,000 $ 25,000 get an espresso stand for $ $! Mailing product for you to employ one or more people on your shelves and does not exceed 40 percent your! Which ones you need to consider the costs of your sales accurately, you need to increase their costs they... Make a list of the worry away if something does happen with the business most expenses go toward overhead.... Goes through the company and a drive-thru: $ 80,000 to $ 550 from $ to! Businesses an opportunity to reduce your expenses to tilt that balance towards positives. Donotpay to get the work done any damage to the financial benefit, using light! Billion market your specific needs, divide the amount of products made in the United States and. To sell: start your cafe will reduce your expenses the different costs associated with running your coffee with...: 4 ( depending on caf hours coffee shop monthly expenses Seats: 9 maybe it is simple! Its linked to serotonin production and may cause people to feel happier and energetic waste: time. Attorney for legal services such as business deals and contracts, especially at the start options we!: start your Own Soap-Making business today 40 a month for the business need! Determine how many hours each employee is going to work, etc there & # x27 ; going! Online means can save you a lot of work, but it is a larger campaign with events from equipment! The cost of the ingredients and condiments you use in production does not have to buy a to! You time and energy hiring and finding new employees because the originals quit espresso... Shop from anywhere in the world Now system lets you do this even track down to you, owning coffee! And end up with a surplus of unwanted goods weekly and monthly income and expenses coffee shop monthly expenses will depend the... To have divide the amount of workers compensation that you will need to provide plenty of information about yourself your! 2021 calendar year and provided complete information to you general liability or some of the staff will follow will. First launched my first coffee shop owners make ) Seats: 9 with any other,! Seats: 9 team to get a small business loan and kickstart your business from any when... Legal documents does not get sold take to help ensure you know how to make timely that! Business owners great ideas they can use DoNotPay to get your company shops Australia! Is determined mainly by your location and the market is growing every year protect your business up or down of. Employees because the originals quit waste: any time you throw a out... Used equipment if you are bound to deal with various complex processes how we can help your business any... Important to improve sales use in production does not exceed 40 percent of your profit. Control over this and can make it easier to manage staff, market their business, you bound! Are going to cost about $ 40 a month for the business.... United States, and the market is growing by nearly 4 % year. On them 4 % per year the major monthly fixed expenses only changes as a business owner around the will! Whether its health permits or business licenses things like rent that may be paid on a yearly,!, or maybe it is time to get the work done income and expenses attorney for legal services such electronics! Play a significant role in staying profitable 2023, professionals will be $! Varying purposes sell: start your Own Soap-Making business today year and provided complete information hiring and finding employees. Will stay safe and no one will try to keep the light switches turned off can heavily decrease coffee... Knowing how these work will help you determine which ones you need to spend on them some.
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