Once you’re clear about your goals and objectives for opening a café, it’s time to document an official business plan.
Some business plans can be very long and detailed like a telephone book, while others may be succinctly summarized on the back of an envelop. Where possible, try to avoid waffling on about non-essential information.
Keep it brief but cover all the essential items so that it is a comprehensive solution. It’s fine just to make bullet points of key details without trying to write a literary masterpiece. Concentrate on facts that are relevant and do your research.
Included in the business plan, should be the financial projections for the new business, as well as the capital requirements to fund the venture. At the planning stage, the financial forecasts should try to be as accurate as possible. Along the way, as each of the estimates are confirmed, the financials should be updated regularly.
For example, rental costs will be one of the main expenses for a café. Initially, the plan should have a budget for paying rent, and once the actual premises have been confirmed, the actual true cost should be included to tighten up the business plan.
If you’ve never done a business projection before, ask family and friends for advice from someone who has experience in running a business. He or she doesn’t need to have knowledge in operating a café, although that would be ideal.
In particular, seek feedback from someone who has financial or entrepreneurial experience. Drawing up your business plan will be a lot easier if you get proper guidance and furthermore, the end result will probably be much better than if you tried to do it yourself.