Google images / Pinterest / Blogs are all easy ways to find them.Combine these with a short summary of how you would describe the finished result.Unless you’ve done this before, get some help on this – the projections are guesswork beyond a certain point, but they are essential to make sure that your plans are viable.
I couldn’t possibly hope to cover all of this here – so I’m not going to.
Except to say that you will need to include a budget of setup costs (and where the money is coming from) and a projected profit & loss report for the first 3 years.
It’s a shame, because it is a great way to plan out the details of your new business.
I’m not trying to provide a checklist here of every detail you should consider, but here are my tips on making business planning useful and maybe even a little fun: Most people, when starting a business, have an image in their head of how they want things to look & feel – from the signage, to the type of food to the vibe of the staff to who they imagine their customers to be…no better way to express that than with pictures.
So they fill in a generic template with a whole lot of businessy jargon to send with their loan application / lease application / other paperwork in order to tick a box.
The people intended to read it glance over the financials and it goes to rest in a filing cabinet forever more.Businesses that have been around a while are good at something, find out what it is. Describe your target customers in a specific way, including why they are visiting you. Spell out the details, include a sample menu – you know who you’re targetting, so tell me what you’re offering that will appeal to them: “gluten-free”, “online ordering”, “no-limit EFTPOS”, “take-away window”, “single-origin drinking chocolate”, “free newspapers”.Here’s an example to get you started The Australian Bureau of Statistics also has useful (and free) data on demographics by suburb. And equally, what you’re not going to do, if it helps define your concept and how you stand out: “no syrups”, “sit down only”.such as schools, medical centres, pharmacy, public transport, Office blocks etc.you can use these to target the people most likely to be in the immediate area during your trading hours.The benefit of doing this is that you can go to real estate agents or landlords and get them to find you the perfect site before it becomes available.Just make sure you get specialist legal advice before you start negotiating the terms with the agent.Coffee shops are popular locations not only to grab a change of scenery to get some work done, but are often the sites of informal meetings.Really paint the picture of the atmosphere you are going to create.Aside from those three points, succinctly explain to your reader whatever other details of you deem necessary for them to come away with a basic understanding of your vision.Additionally, if you are looking for funding, you may want to place something similar to the following at the bottom: In order to fulfill our vision for [COFFEE SHOP] we will require [DOLLAR AMOUNT] in capital, which will be allocated roughly according to the following table: If we are fully capitalized, we hope to be profitable by [TIME].