Are you one of the budding entrepreneurs nursing an ambition to start a cafe of your own? Its definitely not a bad idea to ponder upon. As per the study by Euromonitor International, the café chain market is one of the fastest growing categories in the consumer food service industry. It is estimated to grow 6.9% a year to Rs 4,540 crore by 2023 in value sales at constant prices exclusive of inflation.
The first step in this regard is to have a solid business plan.
Steps involved in writing a business plan for your cafe
Business overview –
Have a clear idea about how you want to position your cafe. Checking the cafe name ideas and choosing the most appealing one is quite important. The design and interiors should be in sync with the concept of the cafe. Develop a sample menu with the various dishes you are planning to offer. The last aspect is the management team, i.e the owner, manager and the head chef.
Industry research –
Collect details such as competitors, the timeframe to reach break-even etc. Determine the location where you want to set up the cafe. It involves several factors such as accessibility, proximity to schools/colleges etc. Also research on the target customer, their buying behaviour, spending patterns etc.
SWOT analysis –
A SWOT analysis will help you list out your strengths, weaknesses, opportunities and threats.
Operation plan –
Plan on hiring the right employees and delivering training for them. Training covers even areas such as restaurant POS system. With platforms such as inresto POS, now you can manage reservations, loyalty programs and many other functions.
Financial Analysis –
List out the potential investors, expenses such as fixed costs and recurring costs.
Marketing plan –
For advertising your brand, decide on the various online avenues such as own website, social media marketing etc. Also explore the offline sources such as roping in food bloggers, setting up hoardings and distributing pamphlets.
Parting Words
Having a solid business plan is inevitable for a café business. With the above tips, now you can easily come up with a business plan.
