Having a Cafe Business Plan is important for several different reasons.
Plan your goals and track them.
A well written Cafe business Plan will allow you to set your goals and check that the business is moving in the right direction at regular intervals. Writing the business plan is quite easy and, when done before the business is purchased or started it can help you to understand things like what level of business you will need to generate to meet your income goals and what kind of actions will need to be taken.
Help Raise Finance
Your Cafe Business Plan may also be used to help you to raise finance for either the initial purchase or a renovation or equipment purchase. Further down the track you may also use your plan to help you raise finance to expand your business and open a second site. If you build up a good track record with your lender and demonstrate that you are hitting your goals and that you have a clear plan of where you are heading then raising finance becomes much easier.
Get the purchase over the line quicker.
When buying an existing business the purchase will always be subject to the landlord granting approval for the lease to be assigned from the seller to yourself. This is an area of the sale transaction that can significantly slow the process down and in some cases it is where the process ends.
Having a well thought out Cafe Business Plan that you can submit as part of your application to the landlord will increase your chances of getting approval granted quickly. Many private landlords may not ask for this but if you are considering the purchase of a business managed by an agent or a business in a shopping centre then you will have to submit a business plan along with the retail lease application.
Key Takeaways
Preparing a business plan for your cafe is going to not only help you in the early stages with finance and lease assignment. Having a well written plan will act as a guide as to how your business is performing and can be a great accountability tool.
One of the most important things about having a business plan is keeping it alive, don’t just use it to get you across the line, use it to make sure it helps you reach the dreams that you have as you start this new chapter of your life.
Next Steps
One of the easiest ways we have found to create a complete Cafe Business Plan quickly and easily is by using Live Plan Software.
LivePlan is the best choice for writing start-up, investment, growth and cafe marketing plans, because it provides guidance options and research resources for the most accurate industry, market, and financial data
The goals you’ve established for your new or growing cafe will determine what type of business plan you need. If you’re not sure what type of plan is best, this program assists you in determining whether you need a funding or an investment plan and then provides templates for each scenario.
