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I would first create an environment encouraging the students to buy, not an environment for them to hang out. If you establish that from opening day, you will alleviate a lot of headaches.
That being said, I would do form a half hour before the first class of the day until half hour before last class of the day.
Our shop is in a small town on the square that has a college a bit bigger then that. We wanted to create a good night crowd so we decided to stay open till 9pm during the week and 11pm on the weekend. It's been perfect. Our day crowd is and our night crowd does tend to be heavier on the college side.
I fully agree with John, you have to create a culture of enjoying coffee while they are in the shop. It'll take a kind but firm enforcement of it (and very consistent w/ your entire staff).
My thought on hours is that it's always easier to extend hours then to cut them. Also, the perception is never good when stores cut hours.
Brandon, here's an idea:
Then boom - you are generating word of mouth among the college kids, and your operating hours are part of your listing. And all for the low low price of free!
I hope this helps!
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