Bookstore coffee shops are a niche segment. Their plans need to be tailored to their customized consumer needs. Since there are not many bookstore coffee shops, there is a chance that your planning company might not have worked on such a business plan.
Planning for a bookstore combined with a coffee shop is different from other kinds of coffee shops. Only those who own one or have worked on a related plan can give you insights into it. It may look like a very sophisticated business option, but an entrepreneur must look at profitability too. Very few planners have the experience of handling a bookstore coffee shop business plan.
Best Sources to Explore the Feasibility of a Bookstore Coffee Shop Business
Bookstore coffee shops are riskier since they cater to a very niche segment of consumers. The volume of consumers in the segment is very low. Managing a good footfall and profit ratio is important. Similarly, there are many other things that you must know to make it a successful venture. Providing a Wi-Fi connection and good food menu will not pull customers to bookstore coffee shop, stacking a great variety of books and having a peaceful environment will. Steps that will help you learn the tricks of the trade are:
Talk to a Bookstore Coffee Shop Owner: There is no other way to know about the reality of the business. Only a person who currently owns or once owned a bookstore coffee shop will be able to tell you how it works, what is the degree of affinity towards reading in the nearby area, what do you need to get repeated customers, how to increase the revenue, and similar things. Make the most of their experience. No planning firm can tell you things that an experienced and passionate entrepreneur can.
Read Sample Business Plans: This is one activity that always helps. Look for the best coffee shop business plan samples. If it is a well-researched and well-written plan, it would sound similar to the advice you would get from a bookstore coffee shop owner. If you are not able to manage the suggested conversation, a business plan will be a great help. Go through as many plans as you can find and take notes generously.
Discuss it With an Experienced Planning Firm - Once you have collected all the important details and feel ready to take the plunge, discuss your idea with a reputed planning firm. If possible, find a firm that has worked on this kind of a plan before. It will help you analyze the feasibility of your idea. Once you are sure that you want to get into it with all your heart, go for it. That’s when you start planning for your dream venture.
Bookstore coffee shop can do really well if you have got your research and planning right. If the location is central, it won’t take too long to get popular. Stack what your readers like, offer some great coffee blends, and get the perfect reading ambiance. If marketed well, it will be successful before you know it. Get a great business plan with the best plan writing company in town and get it moving.
Looking for a business plan coffee shop? Contact MasterPlans to get the best business plan for a different coffee shop idea.