Many people dream of owning a cafe or coffee shop. Whether they have the dream to think big and have a franchise-type business such as Starbucks or want to own a little mom-and-pop cafe where everyone comes to relax, possibly get some work done and drink some coffee, this dream is shared by many wanting to own their own business. Here are six vital steps you must take to open your own successful café business.
Write a Business Plan
Every business, no matter what the type is, should have a well-written business plan. A business plan is essential when seeking out financing, business partners, or even an organized success plan. Here is what a business plan should include:
- Executive summary: The executive summary is the number one item prospective investors will read and must include your goals and encapsulate your business. Though it is at the beginning, it should be written last to include all that you put into the plan.
- Company Overview: The company overview should include an outline of its processes and structure and incorporate your business’s mission statement.
- Market Analysis: The Market evaluation will need to include assessing the market in the area you intend to enter. It will also incorporate competitor and customer evaluations.
- Marketing Plan: The marketing plan will be a detailed strategy for marketing the business and its expenses.
- The Operating Plan: The operating plan will be how you plan the business to manage and those costs.
- Management Team: The administrative team will include who will be included in the business’s administrative operation function.
- Financial Plan: The fiscal plan will be at least the six-month financial plan and your business estimates.
Find a Location
The location of your cafe is just as important as any other aspect of the business. It would help if you were in an area where it makes sense to have a cafe and easily be found by foot traffic. Not all of your business will be those who already know you exist. Much of your business will be walk-ins. So location is extremely important for a cafe owner. It’s just as important to consider the location as it is to consider the lease’s cost.
Develop a Great Floor Plan
Once you have a location, you need to make a great floor plan. After the pandemic, you must consider many factors when laying out your floor plan:
- Seating and tables
- Equipment setup
- Walking space
- Line location
Hire an Accountant
While it may seem premature to hire an accountant before you even open your business, you must do so. Having a good accountant that will be there from the start of your business will ensure that your cafe is a success. An accountant can also help you with the startup costs and financing by helping you figure out ways to obtain the financing needed to open your cafe.
An accountant can help you find funding options such as the following:
Save Money for Initial Expenses
Many business owners will go after financing for startup costs but forget about the funds needed to keep the business afloat until operating in the red. So, when obtaining financing or using your personal funds, ensure you have some money saved to cover your business expenses for at least the first six months of operation.
Develop a Marketing Plan
Though you should have thoroughly covered a marketing plan in your business plan, marketing needs to be your business’s daily focus, especially when starting. For a café, your social media presence can set you apart from other cafés or coffee shops and bring customers into your shop. Marketing should be eye-catching and grabbing and open to interaction with your customers and potential customers.
Set High Standards
Because cafés are everywhere, you have to stand out against the competition and Starbucks when entering the market. To do that, you have to stand out and also set your standards of quality and what you offer as far as the entire café experience is concerned. Have an inviting atmosphere, above and beyond service, and high-quality products. If you set your standards high from the beginning and keep them there, your café will be a hit!About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.