Cat Cafe Business Plan Sample
Do you want to start your own business? Well, if you are thinking about how to start a cat cafe business , you are on the right track. The business is based upon serving the cat lovers with meal or just coffee in a comfortable place where they are surrounded with adoptable cats and can also play with them. The first step you will have to take to start your setup is to make a thorough business plan covering all the details of your business. Kitty Cafe will be a cat cafe owned by Amy Theron, providing trained cats for those who want to adopt, and for those who just want to play at the moment while having a relaxing time and diet, located in Austin. Before thinking about how to open a cat cafe , you should rent the most suitable space and convert it into an appealing cafe. Kitty Cafe will be owned and managed by Amy Theron, who will hire a team to train stray cats, to prepare menu for the customers and to help in running the business smoothly.
You have found the perfect business idea, and now you are ready to take the next step. There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your cat cafe. These steps will ensure that your new business is well planned out, registered properly and legally compliant. A clear plan is essential for success as an entrepreneur.
Company Targets And Forecasts
Michaels target is to become the best internet café in New York and be a trendsetter by providing a unique, highly-customized and professional service. Michael has forecasted a 15% market share and calculated an average gross and net profit margin expected in the next three years. He strongly believes in his business model which will gradually begin with lower net margins, but pick up to bring in a good net profit margin in the second and third year.
Adopt An Entrepreneurial Mindset
Creating a business includes continually learning and adapting to new situations. You never know when something might go wrong, or when customers may begin to lose interest for some reason.
Difficult times may occur, but seeing them as merely obstacles rather than failures can help you to succeed in the long term.
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The Dirty Truth About Cat Cafes
Anyone who loves cats might love the idea of a little cafe where you can go, drink coffee, and share your table with an adorable new furry friend. In theory, it’s a pretty brilliant idea, but in practice, there are some very, very big problems and they’re not what you might think.
According to the Smithsonian, cat cafes got their start in Taiwan. The first one opened in 1998, and hundreds have opened since. They’re scattered across a number of countries, with Japan falling particularly hard for the whole concept. They’re only in part for the tourists there are a good number of them that have loyal, local, regulars. Coffee with Cats tracks just how many cat cafes are out there, and as of 2018, there were 255 feline-centric cafes in 37 different countries. That’s a ton of coffee and a lot of cats but unfortunately, not all of those cats are happy about the whole situation.
Finding The Right Location
Cat cafes should have a location that is easy to access. Meanwhile, the interior of the building must also meet requirements for animal and beverage locations. Finally, consider the building functions such as air ducts to decrease cross-contamination chances between the dining area and the cat area. Looking for the best place to open a cat cafe? You might have to compromise on location for something that is just right. Consider location, but also safety, availability, and visibility of your storefront.
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Find A Trusted Veterinarian
The cats inside your café will need to be medically healthy and receive treatment while theyre in your care. Finding a trusted veterinarian is a must when it comes to this. Your veterinarian needs to be aware of your business, how often your cats are exposed to the public, and any issues you may notice them suffering from. This will help you keep everyone involved healthier and happier.
Become A Legal Business
To become a legal business you must have a business license. Youll find there are several types of licenses available in most cities or counties. The most common include sole proprietorship, partnerships, corporations, and limited liability companies or LLC. Speaking with your local agencies will give you a better understanding of these potential business types so you can choose the best one for your venture.
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How To Start A Dog Cafe Business
Cat cafes have been a popular idea in Japan and other Asian countries for several years now. However, dog cafes have remained an astounding but an unrealized idea for in the US and other Asian countries as well.
Opening a cafe is itself difficult so considering opening a dog cafe is more difficult. Some simple reasons are maintaining food safety and hygiene standards because of the presence of pets in the cafe. In this article, I am going to include all the necessary information you will need to keep in mind before you make decisions for starting your dog cafe business.
Step : Get Business Insurance
Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your companys financial wellbeing in the event of a covered loss.
There are several types of insurance policies created for different types of businesses with different risks. If youre unsure of the types of risks that your business may face, begin with General Liability Insurance. This is the most common coverage that small businesses need, so its a great place to start for your business.
Learn more about General Liability Insurance.
Another notable insurance policy that many businesses need is Workers Compensation Insurance. If your business will have employees, its a good chance that your state will require you to carry Workers’ Compensation Coverage.
Recommended: Learn what business insurance for your Cat Cafe will cost.
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Determine Pricing And Whats On The Menu
Before you open your doors, the menu must be decided. In most cat cafes, light menus and drinks are offered. Its your discretion when it comes to the menu. Coffees, teas, sandwiches, or even alcoholic beverages can be offered. Make sure to keep the prices you ask competitive. If you offer free food and drinks once a cover charge is paid, keep costs in mind when you set the cover rate.
Start Your Coffee Shop Planning
Comprehensive. Convenient. Affordable.
Coffee Shop Startups is the premier coffee shop business resource for aspiring entrepreneurs. We provide the most comprehensive way to research and plan your coffee shop business.
Our Complete Coffee Shop Startups Kit is packed with everything you need to know before you open your coffee shop business. With hours and hours of one-on-one interviews, you’ll hear from real-world coffee shop business owners and experts.
When you purchase The Complete Coffee Shop Startups Kit, you receive an invaluable collection of exclusive resources designed to help your coffee shop business grow.
These tools will get your coffee business on the right track and give you the motivation to move forward with confidence.
There’s never been a better time to start a coffee shop business. And there’s never been a better resource to help you get started the right way.
Now’s the time to take action but only you can do that.
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Register Your Cat Cafe With The Irs
Next, you need to register your business with the Internal Revenue Service which will result in the IRS issuing you an Employer Identification Number .
Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.
Note that if you are a sole proprietor without employees, you generally do not need to get an EIN. Rather, you would use your social security number as your taxpayer identification number.
Start A Cat Cafe By Following These 10 Steps:
You have found the perfect business idea, and now you are ready to take the next step. There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your cat cafe. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
Check out our How to Start a Business page.
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Who Is The Owner
- YellowNet is owned and operated by Michael Thicke.
- He has vast experience in the internet service provision industry spanning a total of 12 years.
- Throughout his life, Michael has worked for various internet service providers, and therefore thoroughly understands how the industry works.
- Michael is a graduated with a degree in Information Technology from Pace University in New York, He also holds an MBA from Columbia Business School.
- Working in the technology division, Michael was instrumental in the SME technical support division.
- During the course of his career, he helped several local small businesses successfully set up their internet infrastructure.
- He rose through the ranks and served as an IT Manager in the various companies that he worked for.
Dont Bank On Wild Success From A Crowdfunding Campaign
So, you have your business idea, youve done some research and planning, and you are ready to fundraise. So many businesses have had runaway success with crowdfunding campaignswhy not give it a try?
Not so fast. While crowdfunding can be a great way to raise money, it isnt a given or a guarantee. The Castillos fundraising campaign on popular crowd funding site Indigogo, while it taught them valuable lessons and helped garner press, was not as successful as they might have hoped. I think it was good for publicity, I think it was good to get out there, but we didnt do so great in the fundraising part, says Kristen, who notes that having a larger social media following is often crucial to reaching enough people to make crowdfunding a success.
Sergio agrees: If you have a bigger foothold in social media than we did, youre going to get further alongget as many as you can on Instagram, on Facebook, on anything you can that allows you to spread that word.
Should you eschew crowdfunding entirely? Of course notbut dont put all your eggs in such an uncertain basket. Secure as many other as possible, and make sure you have a large enough following to draw on to make your crowdfunding efforts pay off.
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If Youre Breaking New Ground Research Is Crucial
If the Castillos had planned to open any old restaurant or cafe, they would have found a vast number of resources on how to do so, from restaurant business plans to advice from industry veterans.
However, for an establishment combining animal shelter and restaurant, the Castillos didnt just throw out the playbook, they rewrote it completely. With little to go on and few footsteps to follow, Kristen and Sergio did their own research. We are just really figuring it out on our own, Kristen said. They researched existing cat cafes abroad, reached out to owners, and spoke with city officials.
If you are starting a business with a unique angle, you may find that you have more limited resources. The Castillos advice? Research, research, research. Do your research, talk to other peopleget advice and hear peoples stories, Kristen says.
Other Things To Consider When Starting Your Cat Cafe
Legal Requirements:
Legal requirements may not be the most exciting, but they are extremely important to understand in order to provide the best possible experience for your customers, employees, and the cats.
Keep in mind that there may be some extra requirements involved for cafes that include animals like cats, such as making sure the animals are away from the cooking space and are up to date on vaccines and the like.
There are also considerations to make with regard to paperwork, including making sure that no one else is using the name you want. Furthermore, deciding on the structure of your business, such as a sole proprietorship, LLC and more, as well as understanding how taxes will function for you.
Accounting & Bookkeeping:
Another less exciting aspect to running any kind of business is bookkeeping. That said, its an aspect that needs plenty of attention so that the numbers can be tracked, allowing you to see the growth in the business and make sure taxes and employees get paid, and more.
Fortunately, there are options for you! Hiring a freelancer who is experienced in bookkeeping is a great idea, and that person can provide you with great advice for being successful. You can also choose to hire and train your own employee, if you want someone a little closer to you on a regular basis.
If you feel comfortable with forging the path yourself, programs like Xero and Quickbook can help to make it that much easier!
Hiring Employees:
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Phone Calls And Emails Only Go So Far
While you might be inclined to seek information via email, Kristen says a face-to-face meeting is often the better way to go. In combining an animal shelter and restaurant, the Castillos knew they would need to comply with various health codes.
Instead of sending an email, they went to the health department in person. When you speak to someone over the phonetheyre just regurgitating code, Kristen says. When they spoke to someone in person, it was much easier to get their questions answered. He just said, heres what youve got to do, Kristen says.
As you go through the steps of opening your business, you are bound to have specific questions. While emails and phone calls are a good place to start, consider speaking to someone in person when possibleit could save you time and get you the detailed answers you need quickly.
Develop Your Cat Cafe Business Plan
One of the most important steps in starting a cat cafe is to develop your business plan. The process of creating your plan ensures that you fully understand your market and your business strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise capital for your business.
Your business plan should include the following sections:
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Setting Goals And Kpis
A Key Performance Indicator is something you keep track of in order to show the growth of your business. While indicators and goals like profits and sales are pretty universal among businesses, there may also be some you want to consider specifically for a cat cafe.
One that you might consider are the number of cat adoptions in a month. Naturally, if youre offering adoptions then its a great thing to see more cats go to their forever homes. In addition, keeping special track of things like cleanliness and safety can be extra important.
Target Market Segment Strategy
Most adult coffee drinkers said their lifelong habit began during their teenage years. In fact, 54% said they began drinking coffee between 13 and 19. Another 22% reported their coffee cravings started between the ages of 20 and 24. This means that 76% of adult coffee drinkers began drinking coffee by the time they were 24. So, despite the large amount of marketing and advertising directed at the younger age groups, savvy coffee shop owners will not forget to cater some of their offerings to the adult and senior market. .
The Russet Cup will offer a unique experience for coffee aficionado by offering a quiet and cozy yet sophisticated cafe and offer a sense of refinement and peace in an otherwise hectic and fast paced world. While other coffee shops cater to convenience with drive throughs or loud music venues late into the night, the Russet Cup will stand apart from its competitors with its quiet yet soothing ambience, capturing a truly unique market niche.
4.3.1 Market Needs
Coffee shop customers, by nature, are looking for something special thats why they are willing to pay so much for a cup of coffee! Many customers of the big national chains, while satisfied with their daily coffee would be intrigued to find a local coffee that is different.
4.3.2 Market Trends
4.3.3 Market Growth
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