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Thread: Question About Writing A Business Plan...

  1. #1

    Question Question About Writing A Business Plan...

    Hi,

    New here! I just wanted to see if anyone could help me out...
    I'm still in the beginning stages of planning my business (a cafe bakery), and I've seen a lot of mixed feelings about business plans around online. But I definitely feel as though I need to write one since I am seeking funding. However, I've read many articles about how to write business plans, as well as read through many sample cafe business plans. I've pretty much completed the research for all of the Market Research sections, but I'm a little lost when it comes to the sections that discuss where your business is located, the demographic in that particular area, the size of the building, etc... I mean, it seems straightforward enough...except for the fact that I'm still in the process of seeking funding. So how am I supposed to know all of these details? Some of the sample business plans I've seen go into detail about the address, what's next to the building, and other intense details. It may be a stupid question but...does one need to actually go through the process of trying to get a specific building before writing this part of the business plan? I'm pretty proficient in research, and writing so that part of the business plan doesn't seem bad but having to try to find a building to rent/buy before even finishing writing it when I need funding seems a bit overwhelming... I wasn't sure if you could just write about the area you're planning to have it in? Or the building you hope to rent? Or do you really have to like, put money down on a building space?
    Again, I'm really new to this so it may be a dumb question but I appreciate any answers anyone can give me. So thank you in advance!

  2. #2
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    No, you don't need to have the location already, but you do need to have an idea of what your location is going to cost.

    Identify the types of areas that you want to be located in (by the target demographic, foot traffic, parking, other shops in the area, competition and so on) that you think gives you the best chance of success for your specific business.

    Then find a few places that are currently on the market (or used to be on the market) in those areas that would fit your needs, and write your plan based on those average costs...rent/lease, taxes, overhead and so on.

    Give yourself options. Don't try and pigeonhole your business plan to make it seem as if you don't get one location then the business isn't viable.

    At least that's my opinion. I'm sure others who are in a similar business will chime in with some hands on experience.

  3. #3

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    Thank you so much! That definitely makes a lot of sense. I appreciate the helpful advice

  4. #4
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    No problem.

    One more tip, add in what the length of the commitment is to rent/lease such a building so that you can plan your finances out according to the expense of that commitment.
    For instance your monthly may be lower on a two year commitment as opposed to a one year or a month to month. If month to month is an option, I would be wary of including it. For that matter don't include anything in your plan that you don't actually want to be forced to live with, unless you can actually make it work based on that.

    If you're asking for money, don't shortchange yourself because it may seem to sound attractive just to get anything you can get. Investors want truth and reality. They want to know that you have a realistic understanding of things. They can invest in anything. What they're investing in is you.

    If you find your plan isn't getting any hits, make note of the objections or issues and adjust accordingly on your next pitch.

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