Core Elements of planning:
Example: Setting up a Coffee shop
We plan to set up a coffee shop at a nice location, with a seating capacity of 40 people. The total investment required is about USD 80,000 -250,000. The resources have to be efficiently planned from, your savings, family or the bank. The allocation of resources has to be planned for each activity. Primarily if your financial planning is in place other factors will follow.
To Finalise location you need finance
To buy machinery and furniture you need finance
To do up the place you need finance
The scale of business if big will also increase economies of scale and improve efficient use of your resources.
Planning for business promotion and advertising online mode and offline has to done to maximize footfalls and increase revenue.
The manpower has to be suitable for this kind of business need, you need a good fast food server and a right source to procure good quality ingredients at minimal costs. Quality of manpower should be excellent to increase walk-ins and retain them. The team should be young, warm, friendly and efficient. The salaries/ incentives will have to plan accordingly.
The planning has to be a good mix of product, price, quality etc
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