The business plan is an extremely important element of any business. If you are looking to start a coffee shop in the UK, you will have your to-do list richer for one more item.
Writing a business plan is not that hard. However, incorporating it into your business development and your everyday operations is.
We have already covered topics that helped you find the perfect location and gave you some fantastic ideas for opening a coffee shop. We also covered the topic of running costs of your operations and helped you determine how much money you will need to start this venture.
Hopefully, by now, you are on your way to a successful opening of your dream coffee shop in the UK.
Why Do You Need a Coffee Shop Business Plan?
A coffee shop is like any other business and it requires successful planning and execution of every little thing. Here is why we think you need a coffee shop business plan.
- It will save you money
If you know someone who started any business, you have probably noticed that it happened they went over their initial budget estimates. If that person started a coffee shop, you should know even better. Even with a written business plan, things can go out of place easily.
However, that is not the reason you shouldn’t be having a business plan. Quite the contrary, well-written business plan should cover all of your possible unexpected expenses. And by knowing they will happen and by incorporating them into your business plan, you will save yourself a lot of time and money. And stress!
Also, going through every point of a business plan will have you consider every detail of your financial expenses and make you see things that you would have forgotten otherwise.
- It will keep you organized
Same as with our last point, a business plan should be keeping you on track with all unexpected turnovers that may happen. Being and staying organized is critical to any business out there and a properly written business plan will force you to go through every obstacle from start to finish.
If you ever thought about starting any kind of business, the first thing you did is take a piece of paper and a pen. There are so many things you need to track and think about, and you know it is impossible to store them all inside your head.
Having it all down in a business plan will ensure you never miss and forget an important part or element of your business.
- It will help you stay on top of the things
Being confident that you have everything put together and feeling like you are the one standing on top of the things will bring you a step closer to reaching success.
There are a lot of elements that need to be addressed before you move forward with the process of implementing them.
Missing an element or two might not worry you that much now, but they are all critical to your success and will cause a headache later down the road.
- It will help you land investors
Every guide that is available on the Internet created for the purpose of teaching you how to land investors doesn’t even mention you will need a business plan. It is because everyone is already aware that not a single investor will even agree to have a meeting with you if you do not have a business plan written out.
And it’s not only about investors. When you are renting a place, a property manager would love to get a look at a business plan and ensure himself of your interests.
Is It Hard To Write a Business Plan?
It doesn’t have to be that hard. The biggest part of your workload and the hardest thing in our opinion is to actually go inside of your head, go through every detail and transfer it to a piece of paper.
A business plan is actually all of your thoughts and ideas in one place but organized in a way that makes sense. It can be the way you want it to be as long as it is easy for you to use.
Of course, we do recommend adding a bit of professionalism into every document you write because you will not be the only person who will be reading it. Your business managers, your investors, and your property managers will all have to get a look at it, so make sure that what you write looks good and is actually what you plan to do.
Do not, however, make it too complicated or ever let anyone else write you the entire thing because you will hardly ever remember to use it because it won’t consist of your thoughts and ideas.
How Long Should It Be?
Basically, as long as you want. There is no specific rule that says your business plan should be the exact number of pages and have this or that. Most business plans have anywhere between 15 and 45 pages filled out with all of the necessary details.
At the moment, this may sound a lot to you but once when you start writing it, you will see how easy is to fill those.
When writing a business plan, make sure you are using headings and subheadings to break your business plan into specifics.
What Should Be Inside of a Business Plan?
And now we are coming to the essence of this post. What should be found in the business plan? Well, there are a couple of things and elements that need to be answered in your business plan. There is no specific order you should be using but here is how we put imagined how it should look like:
- The Concept- Description of Your Business
- Development Processes
- Structure Details
- Management of the Coffee Shop and Ownership
- Your Menu With All of the Products and Services
- Your Goals and Objectives
- Your Vision
- Research Data
- Sales Proposition
- Details About Sales & Marketing
- Equipment Costs and Details
- Location & Pricing
- Competitor Analysis
- Income Projections
- Balance Sheets
- Exit Strategy
Do You Need a Lawyer When Creating a Business Plan?
That is one more cost you should be thinking about and whether you will hire a lawyer who will take a look at all of the aspects of your lease and your trademark is up to you. It certainly isn’t a necessity to have a lawyer but it is advisable.
Also, there is no reason why you should write everything from scratch. There are so many templates available for purchase and some may even be created specifically for the purpose of opening a coffee shop. The investment is lower and your business plan will look a lot more professional if it is designed by someone who did that work many times.
How to Use a Business Plan?
A business plan is supposed to be used organically, meaning it should grow and develop alongside your business. Leave enough space in your business plan to regularly make adjustments and edits because that will be necessary.
A business plan is just a plan- they are how things are supposed to look. As we know in life, things always do not end up being the way we thought they would so we need to adapt and change if we want to be successful.
Also, a business plan should be easy to carry around, thus it is obvious that besides having it in a digital format, you should print out a couple of copies and carry anywhere you go.
What Will Happen If I Do Not Have a Business Plan?
Not having a business plan will not doom you to fail. You still might pull it off. But look at it like this. If you are lost in the jungle with no map or compass or any idea where to go and what to do, what are the chances of surviving? Minimal, exactly, and the same rule can be applied in any business.
Not having thoughts written out or budget estimations projected will frustrate you and probably lead you nowhere.
We do know it will take an effort to write a quality business plan but we also know it will pay off in the end.
Is There An Easy Way To Do This?
No, it will be hard and it will be time-consuming, but that doesn’t make it less fun. If you have always been dreaming about opening a coffee shop, brainstorming about every single detail and putting your dream on paper should actually make you happy.
Be creative, make it fun and take your time. If you do are not enjoying this process, you might as well consider if opening a coffee shop is actually right for you.