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

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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

  Creating A Profitable & Successful Coffee Shop Business

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.

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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

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8 Steps in Creating A Profitable & Successful Coffee Shop

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