Business Plan Coffee Shop
It is no doubt that you've figured out that in order to get funding for your coffee shop, you must have a business plan. On top of pieces like the financial projections, marketing and strategy, you plan must outline what makes your coffee shop a unique establishment for your future customers and draws them to your store when there are so many other coffee bars to choose from. As large companies like Starbucks, Coffee People and Peet's Coffee have proven; not all coffee shops are the same. However, many of these large companies have shaped many customers' views of what a coffee shop should be. This must be taken into account when writing your business plan for a coffee shop.
So what is your distinguishing characteristic you will use to separate yourself from the competition and gain success and higher profits? Will you be open 24 hours? Serve a myriad of styles of coffee roasts with premium prices? Roast your own beans in-house? Provide free Wi-Fi? Offer locally baked pastries and soups? Perhaps your characteristic will be convenience with a drive-thru location or near an on-ramp to a free way. These are just a few of these services that successful brew houses are using.
Once you have your basic service and product model down, you will need to delve into the details of your business plan for a coffee shop. Once you have found a location, the next step is to start running numbers on your product line and decide on an optimal price point for your items. The prices must be set to a level where expenses are covered and eventual profit can be made, without turning away customers for exorbitant prices on a product they could pick up anywhere. You have to sell your distinguishing characteristic as part of the coffee they are purchasing so that they will want to come back, even if the price is slightly elevated. Be wary of setting prices too low, however, as there will be a percentage of the customer base who may view the prices as so low that you are sacrificing on quality and/or service. As you can see, it may take some time to really figure out your "happy-medium" price and what will work best for your customers and location.
Other components of your business for a coffee shop that you will need to include:
• Your management structure, especially necessary if you will be hiring a staff or working with a partner;
• A complete market analysis (is there a market for coffee drinkers in your community?);
• Full service description (competitive advantage)
• 3 or 5 year Financial Projections
If you feel you need help completing some of the components in your plan, call MasterPlans, the business plan experts. We will give you a free consultation and help you distinguish what your plan needs, or how we can help you get it done right; no templates, no outsourcing, no other business in mind but yours, just a successful business plan to help you reach your goals. Call now 877.453.2011.
If you are ready to go, or not sure what kind of plan you need, fill out the form below and we'll call you.