business plan the strategy -...
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Business Plan
v1d
BUSINESS PLAN
THE STRATEGY
Thistemplatewillguideprospectivetenantsthrougharobustbusinessplanningprocess,boththeplanforthepubitselfaswellas,moreimportantlythefinancials.YoushouldalsocompleteaProfit&LossandCashFlowForecast.
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PLANNING TO MAKE YOUR PUB A SUCCESS…
Pub Name:
Business Plan
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Details Name of Pub:
Address of Pub:
Trading Entity (delete as applicable): Sole trader / partnership / limited liability partnership / limited company
Trading Name (if LLP or Ltd Co):
Your Details Partner Details (if applicable)
Name:
Home Address:
Contact Number:
Email Address:
Taking on a pub is a serious decision. It is important that you have thought hard about why you want to take such a step and that you have planned exactly what you will need to do to ensure your venture will be a success. Only then can you judge whether you are likely to be able to achieve the income and rewards that you desire.
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About The Pub
How are things now? Give a clear view of what the pub is like at present.
• Describe the pub, its
facilities and any outside trading areas.
• Describe what condition
the pub is in.
• Describe the immediate area in which the pub is located.
• Describe the current
trading operation.
• Describe any relevant trading history.
Business Plan
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Business Plan
Demographics Who are your likely customers? Consider the local demographics of the area within 1.5 miles of the pub.
• What kind of people live
and work in the area? • Who comes into the
area? E.g. shoppers, office workers, tourists, people at night for local nightlife?
• Are they old or young?
• Do they have families?
• Do they have much
money to spend? • What kind of houses do
they live in? • What type of work do
they do? E.g. professional, blue collar, student, retired?
• How many of the type of
customer you are trying to attract live within 1.5 miles of the pub?
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Business Plan
Local Investment Are there any developments or changes in the area that may influence trade?
Ask around, speak to the council, and find out what is happening in the area. Look in the local paper for licensing or planning applications.
• Is the area doing well or
is it in decline? Are shops opening or closing? Are houses selling? Is new housing being built?
• What specific future
events might impact on trade – good or bad? E.g. the building of a shopping Centre, a new road scheme, or the closure of a factory.
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Business Plan
Local Market Where do people in the area eat, drink and spend their leisure time?
We recommend that you visit and talk to the local competitors.
Describe the main competitors.
• What do they offer
customers?
• Why do people choose to go to these places?
• How successful are
they?
• Why are they successful?
• Where are they in
relation to your pub? Is there a circuit in the local area?
• Could / does your pub fit into the circuit?
• Is there anything
missing from the circuit that people might look for?
Attach any relevant maps to the Business Plan.
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Business Plan
Main Competitors Name
Retail style
Location and distance from your pub
Who are their customers?
What do they offer to attract customers?
Will you try to attract their customers? If so, how?
Price of a pint of standard lager?
Price of an evening meal?
Opening hours?
How do you rate this competition out of ten? Reasons why?
/ 10
/ 10
/ 10
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Business Plan
Customers
Existing • Who are the
existing customers of the pub you are interested in?
• Why do they use
the pub?
am pm pm/late
Potential • Are there
customers you could move from your competitors?
• Are there
customers who aren’t catered for in the area?
am pm pm/late
Target • What should your
target market be to increase and maximize your trade and profit?
am pm pm/late
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Business Plan
The Offer What do you intend to offer in order to attract customers?
Show reasons why customers will want to come to your pub.
General • What sort of pub is it
going to be? Will it change during the course of the day?
Drink • Is the offer going to be
driven by cask ales, standard draught lagers, premium draught lagers, world lagers, bottled beers, spirits, wines etc.?
• What will make your wet
offer stand out from your competitors?
• Will the pub be part of
Cask Marque?
• What will be the price of a pint of standard lager?
Food • What is the purpose of
food in your pub?
• Who is going to eat here? Where do they come from?
• What sort of food is going
to be on offer?
• What will the price of the meals be?
• Will the offer change
during the day?
• What will make your food offer stand out from your competitors?
• Frequency of menu
update?
• Attach any draft menus
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Business Plan
The Offer Opportunity • Is there a market for the
offer you are proposing? Entertainment • Will entertainment play a
part in your pub? If so, what sort?
Music • How will music be
provided? What sort of music will it be? How will it change throughout the day? How do you intend to market the offer?
External Marketing • How will you tell people
about what is on offer? Adverts, flyers, radio, A- boards, direct mail etc.?
• How are you going to
launch your business? E.g. opening night, press invites etc.?
Social Media • How are you going to
make social media drive sales in your outlet e.g. o Website o Twitter o Facebook
Smoking Policy • How will you
accommodate the smokers?
Business Plan
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The Team Staffing • What employees will be
taken on over the next three years, with which skills, in which areas of the business?
• How will you find these employees?
• Where do you expect these employees to come from?
Training Plans • What training will be
undertaken in order to build and maintain a skilled team?
• How will training address future market developments?
Reward & Recognition • How will you motivate
and retain your team? Communication • What methods will you
use to communicate with your team?
• How often? Your Role • Are you going to work in
the business day to day? • What will your role be?
Business Plan
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Sales Rhythm of the Week: Key events to drive footfall in the pub each week
Daytime activity
Evening activity Pricing strategy and promotional activity
Opening hours
Monday
Tuesday
Wednesday
Thursday
Friday
Saturday
Sunday
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Sales Rhythm of the Year: Key events to drive footfall in the pub during the year SEASONAL EVENTS
January
February
March
April
May
June
July
August
September
October
November
December
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SWOT Analysis Strengths – identify characteristics of the business that give it an advantage over others.
Weaknesses – identify all issues that need addressing.
Opportunities – identify elements that the business could exploit to its advantage.
Threats – identify elements in the external environment that pose risks to the business.
Additional Information The following area allows you to include any further information you feel may be appropriate to include in your business plan.
Business Plan
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Executive Summary Summarise what it is you are trying to achieve. Start with the end in mind. What is your Vision for the pub?
• What will the pub be
famous for?
• Who is your target market?
• How will you attract old
and new customers alike?
• How will you launch the
pub?
• Why do you believe this pub is the right for you?
• How will you ensure that
the business makes you a good living?
Why do you believe this is the right pub for you?
Business Plan
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The Money Required Outline the overall cost of starting the business and the intended investment including VAT.
Initial Costs Working capital
Purchase of opening stock
Fixtures & fittings (upfront payment / initial deposit)
Investment contribution
Security deposit
Legal & professional fees
Training fees
Business launch costs
Stamp duty & land tax
Other (please state)
TOTAL INITIAL COSTS
Source of Funds Cash
Secured loan
Unsecured loan
Overdraft
Other (please state)
TOTAL FUNDS AVAILABLE