How to Create a Sandwich Shop Business Plan
Creating the right business plan is fundamental to getting your dream of opening a sandwich shop off the ground. Here are some tips for writing a dynamic business plan that delivers.
MAPPING IT OUT
Writing a sandwich shop business plan doesn’t have to be an overwhelming process. Once you have identified a few key factors and goals, with a little creativity and dedication, it basically writes itself.
While there is no particular set length for a business plan, keep in mind that it’s best to keep it concise and engaging while relaying as much information as possible to give potential lenders or investors confidence in your vision.
You want to accentuate the positive while acknowledging any challenges your business may encounter, and how you will address them along the way. A huge benefit of owning your business as a franchisee is the fact that a lot of the research and legwork has already been done for you.
The franchise disclosure document (FDD) provided by the franchisor will offer you a lot of crucial information to help you complete your plan, including the brand’s background, description of the target market, competitive advantages, marketing plans, and a layout of your startup and ongoing costs.
WHAT TO INCLUDE
- COMPANY DESCRIPTION. If you are working with a franchise, a lot of helpful information for this portion can be found in Item 1 of the company’s FDD. Here is where you provide a general overview of your sandwich shop’s back story and outlook, including the products or services you intend to offer.
- PRODUCTS AND/OR SERVICES DESCRIPTION. Here you can go into further detail about what exactly will make your restaurant unique from other sandwich shops. As the first and best grilled cheese sandwich franchise in the United States, Tom & Chee stands above its competitors in an immediate and impactful way.
- MARKET ANALYSIS. Here is where you can assure your investors or lenders that you have done your homework and have chosen a franchise model that will be a smashing success. Refer to Item 12 in the franchisor’s FDD to inform the territory description of your local target market. Address the size and potential of your market to forecast how your sandwich shop will fit into the mix. Include information like experts’ forecasts, demographic factors, and statistics on the prospective competition.
- MANAGERIAL STRUCTURE. Address how your restaurant will run on a day-to-day basis. Including you, as the owner — who will be responsible for making things happen? Detail all levels of operations and detail all prior relevant business experience to imbue lenders’ confidence in your future success.
- MARKETING PLAN. This is the section where you reveal your plan for attracting and maintaining customers. Item 11 of your franchisor’s FDD will give you an overview of their marketing and advertising system—another massive advantage to investing in an established brand.
- FUNDING AND FUTURE FINANCIALS. Time to talk money and get really honest about what you need, provide a larger picture about your financial situation, and provide realistic projections about returns on investments and loan repayments. Your franchisor can provide a great deal of help here, through Items 5 and 19 of the FDD, as well as general counsel through the startup process. While many franchisors can’t provide you with precise projections of future earnings, you can get a strong sense of what to expect for your business.
- APPENDIX. While this isn’t a required part of the business plan, it offers you the opportunity to include any further information that may enhance your presentation, including press releases, awards, and franchisee testimonials. Give your readers a final taste of what possibilities are in store with your sandwich shop.
TOM & CHEE GETS YOU THERE
The process of getting your business up and running is long and intensive, and Tom & Chee is the perfect example of why franchising is the way to go! Tom & Chee has been an award-winning brand in the $23 billion sandwich industry since 2009 and provides its owners with top-notch marketing, training, and ongoing operational support from the day they come on board.
Working with first-time restauranteurs and seasoned owners alike, Tom & Chee welcomes franchisees into the brand family just as they welcome customers to tuck into a warm and delicious meal. To find out more about how Tom & Chee can make your sandwich restaurant dreams a reality, visit here.