I couldn’t possibly hope to cover all of this here – so I’m not going to.
Except to say that you will need to include a budget of setup costs (and where the money is coming from) and a projected profit & loss report for the first 3 years.
Unless you’ve done this before, get some help on this – the projections are guesswork beyond a certain point, but they are essential to make sure that your plans are viable.
_____________________________ That’s all for now…If you haven’t already, check out our post on opening a new cafe Feel free to drop us an email [email protected] – or sign up for our wholesale newsletter at the bottom of this page, to get sent more information like this once a month.
Businesses that have been around a while are good at something, find out what it is. Describe your target customers in a specific way, including why they are visiting you. Spell out the details, include a sample menu – you know who you’re targetting, so tell me what you’re offering that will appeal to them: “gluten-free”, “online ordering”, “no-limit EFTPOS”, “take-away window”, “single-origin drinking chocolate”, “free newspapers”.
Here’s an example to get you started The Australian Bureau of Statistics also has useful (and free) data on demographics by suburb. And equally, what you’re not going to do, if it helps define your concept and how you stand out: “no syrups”, “sit down only”.Panda Tip: Be sure to explain why you feel that you will be a profitable business by the time you claim in the above statement, and any other claims you may make.People making investment decisions need to see a logical progression to profitability before they invest.Once you’ve got a location, check it out on Google Maps.Find out how far a 5-10 minute walk will take you and then look for surrounding institutions that multiply the number of regular trips people take during the week.EXECUTIVE SUMMARY [COMPANY NAME] c/o [NAME] [ADDRESS] [PHONE] [EMAIL] Panda Tip: In the opening to your Executive Summary you should give the basics.Explain how the idea was conceived, the location at which the coffee shop will be located, and introduce the owner(s).by Ben Irvine A business plan is one of those documents that people are often forced to write.maybe by the bank, or their landlord, or even just out of a sense of duty.Many of your customers are going to be looking for a convenient place to pop in for their morning coffee on the way to work.Others may want to walk down and set up shop with a cup or two for a few hours while they take care of some work.