V (Five) Questions for Veteran Small Business Owners Featuring Greg Coster, The Big Bean

November 30, 2022

To commemorate the last day of National Veterans And Military Families Month (November 2022) AAEDC is proud to publish another interview in “V (Five) Questions for Veteran Small Business Owners,” an interview series highlighting some of the many great Veteran-owned businesses in Anne Arundel County.

Our third and final Q & A of 2022 features Greg Coster, a Coast Guard Veteran who co-owns The Big Bean, a coffee shop with locations in Annapolis and Severna Park.

What’s the name of your business and how did you come up with the name?

In 2019, my wife (Christie) and I purchased an existing business; a coffee shop named “The Big Bean.” In 2021 we expanded to a second location, calling it “The Big Bean Coffee House.” We adjusted the name slightly because we always loved the idea of creating a coffee shop that felt like you were in someone’s cozy and comfortable home. After 16 months of being open, The Big Bean Coffee House at 888 Bestgate Road in Annapolis is making our vision come true!

What does your business do and what motivated you to start it?

My business is coffee, 2 shops to be specific. Christie and I purchased the business from the original owner after she successfully ran it for 19 years. We were motivated to buy The Big Bean (Severna Park) because not only was Christie the first barista when the shop opened in 2000, but we met there in 2010 when I was a customer, and she was a barista! After working many years in the military, and government, I decided that life was too short to not take a chance, and work for myself. My standard line is that “Christie always had a dream of owning The Big Bean, and I always had a dream of not having a boss!”

If you had to name just one, what quality or skill from your service most applies to being a small business owner?

The quality from my Coast Guard service which has been most valuable in business ownership is “attention to detail.” We purchased the business in 2019. We had 1 “normal” year until the pandemic hit. Since early 2020, owning a business has been an incredible challenge. In addition to the obvious challenge of the pandemic and navigating the ever changing rules and regulations associated with retail operations during Covid-19, the economic fluctuations have caused an additional level of uncertainty.

Being attentive to even the smallest of details has allowed me to ride this roller coast. Price changes, supply issues, and employee shortages have required business owner to constantly monitor the bottom line to ensure that the business remains profitable. These details have been critical in keeping our heads above water, while still providing the same level of service that our customers appreciate.

What aspect of your business are you most proud of/what’s your favorite part of running it?

I’m most proud of the fact that Christie and I have been able to continue to run The Big Bean as a community staple. While we’ve grown the business almost 40%, we feel that we are still able to connect with our customers and give true meaning to the words “buy local.” While other coffee shops package up their profits and send them off to investors all over the world, the money we make is spent by both our staff, as well as us, within a 5-mile radius of the store. That is EXACTLY why you should buy local! We also pride ourselves on using as many local vendors as we can, for many of the same reasons. I’m also especially proud of the fact that we can offer health insurance to our staff. When we first bought the business, we couldn’t imagine that we would be in a position where we could offer benefits, bonuses, and other perks to our staff. It’s extremely rewarding to know that you are helping someone provide for themselves and their families.

What’s the top piece of advice you’d give a veteran who’s thinking about starting a small business?

Call Candace Pruett…and DO IT! Hey, that rhymes! Contacting Candace from the Anne Arundel Economic Development Corporation was life changing. First off, get out of your comfort zone and do something, other than government or military, that you are passionate about. Candace was instrumental in helping us realize that with hard work, and a little jumping through hoops, our dream could become reality. She helped us navigate what we thought was an insurmountable list of tasks required to get SBA funding, ultimately helping us secure the loan. Again, life is too short to only work in one career field, and life is (definitely) too short to never work for yourself! Thank you to AAEDC for this opportunity to share my story.

 

To learn more about The Big Bean, visit: http://www.thebigbean.com/

 

To learn more about AAEDC’s Inclusive Ventures Program – an initiative that aims to help small, minority-owned, woman-owned, and Veteran-owned businesses in Anne Arundel County succeed and grow by providing their owners with the resources that early-stage entrepreneurs so often lack: business education and training, access to capital, and mentorship – visit: https://www.aaedc.org/minority-business/

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