Brewing Up Your Coffee Shop Business Plan
Before setting out to open your coffee shop or mobile coffee business, it’s important to start with a coffee shop business plan. But don’t worry, if the thought of creating a business plan makes your head spin, there are templates and existing business models available to help you with your planning. The most common elements to these business plans may include an executive summary, a list of your objectives, keys to your success, and your mission statement.
Your Executive Summary
Your executive summary will be a definition of your coffee shop. The type of coffee shop you intend to start, the customers you will be targeting, and the means by which you will be serving these customers will all be part of your summary. Included will also be your financial plans, such as where you will obtain your financing and what kind of projections you will expect. Square footage of your shop, location, layout, and many other shop specifics should all be included, depending on which aspects will be most important to your coffee shop business plan.
The purpose of creating a list of objectives is to keep you focused on what your main goals are. This list may include your expected profit margin, the atmosphere you intend to create, customer service expectations, and your product focus. These objectives should be written down as a guideline to keep your coffee shop business plan on the right track. It will be important to maintain flexibility with your goals as markets and economies change, but keeping sight of your original goals is a proven step to a successful business.
Keys Yo Your Success
Keys to your success will be a composition of the details and steps you believe will make your business thrive. Examples of this may be the level of customer service your staff adheres to, the most effective marketing strategies to use, or the superior quality of product you choose. This list will be tailored to the type of coffee shop you plan to establish.
Your Mission Statement
Creating a mission statement will be a more personal and introspective aspect of your coffee shop business plan. Unlike your list of objectives, you will have a chance to set down the less concrete hopes you will have for your business. These may be anything from how you will affect your customer’s lives to the impact your coffee shop will have on the environment. Your mission statement is meant to guide the actions of your business.
Whether you create it as a risk assessment for a business loan, a guideline for investors, or a map to success for yourself, your coffee shop business plan will be an invaluable asset as you begin your endeavor as a business owner. Remember, if you fail to plan, you are planning to fail!
Don't just follow any business plan. Learn expert tips and strategies to start and operate a successful coffee shop business.