Coffee Shop Business Plan – If you’re planning to open a coffee shop and will be seeking the financial support of banks, lending institutions, or stakeholders, you’ll need to first develop a business plan. In this formal document, you’ll state your business goals, why you believe these goals are attainable, and your plans for reaching them. Your coffee shop business plan should contain the following core components:
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Summary of Objectives and Goals. In this introductory statement, your main objective is to convey the viability of your coffee shop. Here, you’ll introduce your business strategy and try to get others on board with your concept and ideas.
Business History. Here, you’ll explain the origin of your business and will provide a detailed overview of the talents, skills, and ideas surrounding it.
Business Goals. State both long and short-term goals. For example: “Within the next three years, we expect to branch out into corporate catering, and will expand our menu to include an exclusive line of gourmet breads and soups.”
Management Team Biographies. In this section, you’ll provide a biography for each management team member, identifying relative experience, skills, awards, and educational background.
Products and Services. Focus on the unique offerings that differentiate your business. For example: “Our bakery goods are made from site-ground grains, eggs harvested from free range poultry, and locally grown, 100% organic ingredients.”
Market Potential for Products and Services. In this section, you’ll report the demand for your products and services based on competitor location. For example: “Nationally, the coffee shop and fresh baked goods industry is quite extensive, but the nearest shop to my business is 6.3 miles away.”
Marketing Strategy. Here, list the advertising strategies you’ll use to promote your business, such as TV, radio, print, direct mail, or social media campaigns.
Financial Projection. Where will your business be financially three years from now? Five? In addition to a financial forecast for your business, you’ll need to include all formulation used to calculate your projections. In this section, you’ll also outline your start-up costs, balance sheets, and cash-flow requirements.
Exit Strategy. Outline the benchmarks you’ll use to determine when it’s time to call it quits.
Developing a business plan is not an easy feat, but neither is business ownership. By carefully developing a roadmap and timeline for success, you’ll be much more likely to achieve your goals.