Coffee Shop Business Plan
Do you want to open up a coffee shop, because
in this video, we’re going to be talking
about how to create a coffee shop business
plan that can make your dream come true.
Hello, friends, my name is Wilson, your friend
in helping you build a thriving small business
or a profitable food business. I actually want to
know from you. Why is it that you want to create
a coffee shop? Let me know in the comment section
below. Now without further ado, let’s dive right
in. So to start off, why do you need a business
plan for your coffee shop? Because the reason is,
you’re not going to be able to raise funds,
you’re not going to be able to find a partner
and you’re not going to have clarity in building
up your cafe. Now, when it comes to raising funds,
you must have a business plan in order for
you to raise funds from your friends, family,
or even the banks. Why is that the case because
they want to know what kind of plans you have. In
order for you to be profitable. It might take you
a year, two years or three years, but they want to
see exactly the plan of action that you have. And
then that way, they can have much more confidence
to put their hard earned money in you. That’s
number one, raising funds. Second of all, if
you’re looking for a partner, a founding partner
that can help you build this business with you,
then you must have a business plan as well. Why
is that the case because you must align your
own vision with your partner’s vision in this
whole coffee shop business. Because if that the
alignment is not there, if the vision is not the
same, then it’s really hard to be able to bring
them on board as well. And number three is to
have clarity in your own coffee shop. Now what
I mean by that is because when you have a business
plan, you’re thinking about all the fundamentals,
from the location, to the strategies to SWOT
analysis, to your competitors, to your pricing,
and all these things that you must consider.
And on top of that, when you’re building your
business, you’re going to be slammed with left
right center of different types of problems.
And when you’re hit with different types of
problems, it’s very easy for you to be buried
in the noise without seeing exactly what you need
to do without remembering all the strategies,
which is a reason why when you have a business
plan, you can see through the noise and to really
focus on what will drive your business forward. So
that way you can have a profitable and successful
coffee shop. Now as a disclaimer, before you flame
me on Hey, this is not the proper business plan,
I’m only going over all the essential part of a
business plan. So then that way you can be up and
running as soon as possible. Now without further
ado, let’s dive right in. The first component you
must have for your coffee shop business plan
is your concept. Now what I mean by concept,
it means that what is the vision that you have
that you’re building out whether this is a mobile
food truck that is only serving the most artisan
cup of coffee? Or is it going to be a sit in
coffee shop that only serves three to five people?
Or is it going to be a big coffee shop that you’re
going to have a lot of people come in study and
have meetings for you to actually identify that
and really write down what your concept is, it
allows you to build out this entire plan to the
tee, that means that if you’re looking for just a
mobile coffee shop, that means the equipment might
be very different. That means your startup capital
would be very different as well. And that allows
you to actually be a lot more accurate when it
comes to the forecasting the amount of resources
that you may need. And it also allows your
investors, your partners and yourself to stay on
course, and to set the tone throughout this entire
business plan. So make sure you have your concept
and visually laid out in front of you as clear as
possible. In addition to your concept, you must
identify what is the problem that you’re trying
to solve in a marketplace. Because ultimately,
your job is not to create a coffee shop, your
job is to provide a solution to an existing
problem. And what does that mean? That means that
when people want to meet for business meetings,
when people are looking for places to study, and
they don’t have that place, the only place they
can go to is Starbucks. And that’s what Starbucks
is solving to be able to have a nice place for
people to have business meetings, to be able to
have a place where people can come and study.
And that’s the reason why Starbucks Mojo is your
second home for you, you must identify what is the
problem you’re solving for your specific concept
as well. The second component of building a coffee
shop business plan is your team. Specifically,
we’re going to start with you first. Now for you,
you need to identify exactly what you’ve done in
the past and what you can actually bring forth
to this specific business. So for example, if
you have management experience from the past,
you can talk about that and the strengths and
what makes you so special and uniquely qualified
to open up this Coffee Shop, because that’s really
the pyre the chance of your coffee shops success.
Now for a lot of our viewers I know that you
may not have the experience to begin with,
then you must be resourceful. What does that mean?
That means you count on the people, you know,
and look at their networks. So for example, if
you have an uncle that is doing important export,
and they know how to import coffee beans,
that’s a really big plus, that you can put
into this section as well. Because you would have
that resource which I don’t have. And that would
make you that much more likelier to have success
over me, someone that doesn’t have this kind of
resource. So definitely sit down and really jot
down all the different people that you know,
their background, and how they can help you
and propel your coffee shop forward. The second
part of your team is not you must include other
partners that you may have, or the management team
that you have created to build this coffee shop
business with you. Same thing with thumb as well,
you need to highlight their strengths and what
they can actually bring forth to this business,
whether it be management skills, or their network,
or the resources that they have is very important
for you to highlight those items. So then that
way, it gives a confidence to your potential
investors to the banks that, hey, you know what,
this guy has a pretty solid team, I’m willing to
invest in him. And at the same time, it really
also challenges you and your partners to really
count the resources that you may have, send
them this video, show them and let them write
down exactly all the networks and resources that
these networks may have in order to help with
your coffee shop business. As an example for you
with our previous business 720 sweets before we
sold it, we have a really strong team. And the
reason why we had a really strong team is that
each of the individuals, we brought in different
strengths to the business, we all put in different
things to the business that made us a very solid
team in order for us to get a lot of good funding.
Now as an example, for you one of our partner,
he is the biggest distributor for bubble tea
supplies in Western Canada. What does that
mean? That means that we always get the cheapest
cost of ingredients. And that means we don’t
need to actually pay premium for our cost of good
salts. And that allowed us to actually attract
more investors, and funding from the bank because
of the relationships that we have within our team.
So for you, you must look at what your people and
your team is bringing to the table. And when
you don’t know, then you must ask them what is
the reasoning? What is it that they’re bringing to
the table to strengthen your coffee shop business,
whether it be resources, whether it be capital,
whether it be just pure talent. third component
you must identify in your business plan for your
coffee shop is your target market. Now who is
your target market? It is the people that you’re
trying to help. Once again, I always come back to
this when you are trying to create a solution to
someone’s problem. Whose problem are you trying to
solve? For example, if you’re trying to create a
cafe for students to come hang out for late night,
so then that way, they don’t need to be stuck
at home and they want to be able to focus,
then everything within your coffee shop must
align to that to give you a few examples. Wi
Fi must be free and must be strong, because a lot
of people are going to come with their laptops,
and they are going to be on your Wi Fi network.
And on top of that you must have outlets. Why
because people need to charge the laptops. These
are little details that you must focus on because
you’re trying to give a solution to someone’s
problem. The problem is the fact that these
students don’t have a place to study and to focus.
And on top of that, you must offer food items, the
food items not are quick grabbing go eat. So then
that way they can really focus on their study.
And these are just little examples of things
that you can do to better serve your customers.
Now it is time for you to identify your customers
identify exactly who they are. So then that way,
you can actually serve them the best that you
can. For us as 720 suites. We have identified
our customer Avatar and actually created a sheet
like this, her name is Michelle. And we identify
exactly who they are, from how old from what
school they go to, from what are some of their
desires, some of their passion, what they’re
passionate about, and to really have a good idea
on who we’re trying to serve. Now, everything
we do from marketing to designs to the chairs
are all catered to Michelle because this is
the problem that we want to solve for them.
Same thing for you identify exactly who is it
that you want to solve, solve and really come
back to the concept idea, the concept of the
problem you want to solve and who to solve
that for when you identify this to the tee Then it
gives confidence for your audience and actually,
for your investors and your partners to actually
invest in you when you have this very specific. If
you want to learn more about the fundamentals
of building a business, how do you align your
values with your customers values, so that way
you can connect with them, connect with them.
So then that way they become a loyal customer and
in turn for you to explode in sales, then you must
check out our link below. It is a free hour
of masterclass that, you should definitely
check it out. Because that’s where we are able to
teach you show you the fundamentals of building
a profitable restaurant, definitely check
it out after this video in the link below.
The fourth component you should definitely
consider when building out your coffee shop
business one is location, location, location,
location, a lot of people talk about location.
But how do you distinguish between locations,
there are two different types of location first
type is a destination location. And second is a
high traffic location. Now the difference between
the two is that usually with destination location,
the rent is much cheaper, because there are not
much traffic around that area. So for example,
it might be a neighborhood tucked in the corner
around the block coffee shop. And those are
really just not but not that much walk in
traffic. So the rent is much cheaper. And you
need to be able to have reasons of what entices
people to come by that neighborhood coffee
shop, it could be because you have very good
artists and coffee that really attracts people
who drive all the way just to have your coffee,
or versus a high traffic location. For example,
having a coffee shop right on downtown core,
that itself would have a lot of traffic and
in turn potential customers for your coffee
shop. However, with that amount of traffic, that
rent is much more higher than that. So for you,
it’s always looking at the prices versus the walk
by traffic now, especially with what’s going on in
today’s world right now. Another thing you should
consider is the density. What does that mean?
Because a lot of people are now working from
home and they’re wanting a good cup of coffee,
then you would want to be able to consider having
a location that is in a residential density
location. What does that mean? That means that
you must surround yourself in a lot of different
residential area. So then that way, much more
people are willing to be able to order takeout
from you. So more things to consider because of
the pandemic. Now as an example, with 720 suites,
our first location, we know we wanted to serve
University School students, however, having a
coffee shop at the university is very expensive.
And that’s reason why we had to make a decision
whether to actually have that risk of putting
in five to $6,000 per month, and to have that
traffic and to really bet everything on that.
Or should we be situated a little bit further
away from the university and have cheaper rent,
we chose a ladder, we chose to have a coffee
shop at our location our ice cream shop 10 minutes
away from the universities still close by yet,
the rent was substantially cheaper. So than that
we allowed us to actually try more newer things,
and to actually still be assessable for university
students. And on top of that, the reason why we
chose that location is because it is situated
right outside of a bus stop that goes straight
to the university. So that’s why we really find
that spot as a really good alternative to having
a coffee shop inside the university. If you guys
enjoyed this video and find value in this video,
make sure you guys smash the like button and
let me know this is the type of content that
you enjoy. Now back to regular programming.
The fifth component that you must have for your
coffee shop business plan is your sample menu.
Now I know a lot is still in the air and you’re
trying to figure everything out and you don’t know
exactly what you’re serving. However, it is super
important for you to actually have an idea of what
you’re proposing for your menu. Now, according to
exactly who you’re trying to serve your target
market, you should actually allow yourself to
build a menu that is serving for them and give
you an example of why that is the case. Because,
for example, we want to serve the students that
is lacking a place to study. Now for the people
that are coming in at 9pm 10pm. They’re looking
for a sandwich or a soup to eat late at night or
just noodles, then those would be good items to
supplement your coffee shop that you’re offering.
That’s how you’re going to be able to come up with
that menu. And on top of that you need to identify
how much are you selling these items for what are
your costs and what are your margins so that way
you can really do a forecast a financial forecasts
of how long does it take to make your money back
and oftentimes if you’re just selling coffee as
an item, you’re going to have to sell a lot of
coffees in order for you to make back Your money.
And that’s reason why even for Starbucks, they’re
selling cookies, they’re selling muffins, they’re
selling chips, a lot of different things that
they’re selling along with coffee as well. So for
you, for you to come up with this proposed menu,
look at exactly who you’re trying to serve, and
locate exactly what they need. In order for you
to come up with this proposed menu. Another way
for you to get more accurate data is for you to
survey people that you are planning to serve.
Ask them whether this would be a good item,
ask them how much are they willing to pay for it
and actually go to your competitors coffee shop
and see exactly what they’re offering, see how
much they’re charging, see what is popular and
what is not popular for you to get a better
insight on what you should offer to your
customers. The sixth component that you need
for your coffee shop business plan is design
design is practically my favorite component of all
time, because I got to be able to have whatever I
have in here to share with my investors to share
with my partners. And that’s exactly why this is
a very crucial component for your business
plan. Because you want to be able to show
people that you’re working with exactly what you
have envisioned in your mind. What are some of
the color scheme? What does the vibe look like?
What’s the ambience within the coffee shop? How
does your coffee, mobile coffee truck look like?
These are things that you can actually work very
closely with a designer in order for you to come
up with that color template, come up with a logo,
come up with what the uniform looks like, and
really come up with the basic foundation of
this whole vibe, what you’re going for. So then
that way, you can actually submit this business
plan to investors to partners to help them, bring
them into your world. That’s the whole point of
designed to be able to actually bring what’s here,
out on a piece of paper as an example for you.
Whenever we sell locations for ice cream shop 720
suites, we always design renders for every single
location. For every single proposal for every
single country that we’re entering, we always
have designs and renders because that really
just shows our partners people we’re dealing with
vendors exactly what we’re trying to build.
And it also allows me to see exactly what I’m
trying to build and whether it is in line with
what I believe in as well. So super important
for you to do the same. The seventh component
for your coffee shop business plan is your SWOT
analysis. Now I know this sounds like a cliche,
but everyone is working on a SWOT analysis,
but it is super crucial when it comes to building
your coffee shop. Why is that the case because we
need to identify what our strengths are, what
our weaknesses are, where the opportunity lies,
and where the threats are as well to dive in a
little bit deeper for each one is that for your
strength? What makes you different? What makes you
more successful than all the other competitors?
Is it because you’re really focusing on the
ambience, and you know exactly who you’re serving,
and you want to create this massive experience
all just for the students? And if that’s the case,
that is what’s going to make you
special within your neighborhood.
Now, what are some of your weaknesses? If you are
once again, if you’re focusing just on students,
we all know that students don’t have a lot of
money, more disposable income, and they’re going
to sit in your coffee shop for hours on end, than
we know that as part of your weakness over your
competitors grabbing go. For us. It’s really
about exploring and understanding where our
opportunities and where our strengths are, where
our weaknesses are. It’s okay to have weaknesses,
but we need to be aware of them. Next up
is opportunity. Where does the opportunity
live? Let’s say for example, if you have a
uncle, that is that knows how to do franchising,
and you know, you can count on him and as
an advisor to coach you along the way. That
becomes your opportunity where your competitors
don’t have because now you’re building a business
building this whole concept. And once it is
a proven concept, then your uncle is going to
be able to help you expand to other cities as
well. That is an opportunity that is strictly
for you. So identify what opportunities you have
in the marketplace. Now lastly, threat. Let’s
say for example, you’re choosing a location
that is going to be retail we developed soon.
And you choosing a location that already has three
different coffee shops as well. These are threats
that you need to put in your SWOT analysis because
it just allows you to have a full picture of
the business that you’re trying to build.
Identifying all these different types of
strengths, weaknesses, opportunities and threats
allows you to have this overall picture so that
way you can run your business successfully. On top
of that, this is exactly what investors and your
partners would want to see because ultimately,
they’re not looking into investing a business that
is like 100% bulletproof, they want to be able to
see that you as the owner as the founder are aware
of different exposures that you are exposed to. So
that way it is Bigger Picture and you’re going to
be able to get that funding you need. The eighth
component you need for your coffee shop business
plan is marketing. What is your plan to gain that
initial traction? What is your plan to gaining
people to buy from you? What is your plan to
going to market, whether it be Facebook ads,
whether it be influencer marketing,
whether it be stunts, whether it be just
promoting on university grounds, these are all
different strategies that you must put on your
business plan, because this is a way to showcase
to your investors, your partners, even yourself
a roadmap for yourself of Hey, now that we built
this coffee shop, how am I going to get customers,
you don’t want to build a coffee shop and then
wait for people to come in? No, we don’t want to
be like that. We don’t want to be sitting duck,
we want to be proactive. We want to have a plan
and strategy on how we can actually promote our
coffee shop even before we build this coffee shop.
And that’s the reason what distinguishes people
who are very successful and people that build a
business and are not too successful and not that
close on in the first year. You want to avoid
closing down in the first year, which is the
reason why you must plan for success. Understand
what would bring in the customers identify your
list. So then that way it gives not only yourself
the confidence, but also your investors and your
partner, the confidence to invest in you. So
if you want to learn more about marketing, the
different strategies that we use of 720 sweets,
how can you actually get people to talk about
you for free? How do you get media attention,
then definitely check out the link below.
We created an hour of free masterclass,
that shows you exactly how we do that. Definitely
check it out completely for free. The ninth and
final component of a coffee shop business plan is
the financials. Yes, I know this is a topic that
everyone’s waiting for. Everyone’s excited about
this. I know it’s dry. I know it’s difficult,
I know, probably you don’t want to deal with
this. However, this is the most important part
of this whole business plan that your investors
and your partners would look at. And it is also
the most important for you, when you actually
have all the information there. And I’ll tell
you the reason why. Because if you don’t know your
numbers, you’re basically swimming in the dark,
you don’t know for every cup of coffee
you sell, whether you’re making money or
not. You don’t know every month how much you
need to make in order for you to break even,
you don’t know when you’re actually going to be
able to make back your investment. And without
understanding on all these Then why are you
creating coffee shop? Ultimately, this coffee shop
should be a vehicle to provide for you to have
freedom of choice, freedom of time and freedom
of financial burden. And that’s the reason why you
creating this coffee shop. So understanding your
numbers is key in doing that. What kind of numbers
are we talking about? We’re talking about either
the startup costs of how much your equipment costs
cost you? How much are packaging? How much is Cost
of Goods Sold? How much are labor, how much is
everything going to cost you. And if you don’t
know these numbers, then it is very important
for you to go out and find these numbers.
If you don’t know how much people are willing to
pay for your menu item, then make sure you go out
there and survey people to get the best numbers
possible. If you don’t know how much and what
is the cost of per pound of coffee, then go to
suppliers and ask them how much does it costs,
the more accurate you are in identifying all the
different costs for your coffee shop, the better
it is for you to actually map out how and when
you’re going to make back all your investment.
And when you are presenting this business
plan to investors, they will challenge you,
they will rip it apart and they’ll poke holes in
you. And it is up to you to always come back and
revise come back and revise as they give you
more and more feedback. And the more this is
bullet proof, the more that you’re accounting
for, because the last thing you want is for you
to be in business running for a year, two years,
and you still don’t know why you’re losing money.
That is the worst thing that can happen. And
believe it or not more than 80% of the people that
are running their business, they don’t know their
numbers, they don’t know why and how to turn their
business around because they didn’t focus on the
financials to begin with. So there you go, guys,
the nine components of a coffee shop business plan
that you must have in order for you to actually
get funding for you to find partners and for
you to have clarity in building this coffee
shop business you must have these components.
And if you’re serious about building your own
coffee shop business, then I highly recommend you
to attend a free masterclass in the link below as
we talk about how do you align your values and
create the values so then that way you can start
attracting your loyal fans and to communicate and
to connect with the people that you’re serving.
And lastly for you to explode and revenue, follow
the sequence and follow this form. Last so then
that way you can have a thriving coffee shop in
the link below attended. Otherwise I really hope
you find value in this video and if you do all you
have to do smash the like button just to show me
that this is the type of content you enjoy.
Otherwise I’ll see you guys in the next video
Xem them cho thue thiet bi quay phim tai day : http://quayphim.vn/cho-thue-thiet-bi-quay-phim