Writing a detailed sandwich shop business plan is essential to getting your sandwich business off to a great start. Here’s what it should include.
Step 1: The Importance of a Business Plan
Opening a sandwich shop has the potential to be a fulfilling and rewarding business opportunity, provided you have a solid plan in place. Before you get into the specifics, it’s crucial to understand your purpose.
A business plan serves as a roadmap for your venture, outlining your goals, strategies, timelines, and financial projections. In addition to being a financial plan, it also helps you define your target audience, identify competitors and your strategy to compete against them, and formulate a clear business vision for your sandwich shop. Every potential franchisee should start their business journey by conducting significant due diligence, including reviewing the franchise disclosure document (“FDD”) and speaking with franchisees of the brand they are considering. Being equipped with a carefully considered and thorough business plan that captures your goals and financial projections can also be a valuable tool in your due diligence process.
Step 2: Attracting Investors and Securing Financing
While franchisors typically do not request nor review your detailed business plan or projections as part of the initial franchise qualification process, investors and lenders will often require a well-crafted business plan to evaluate the potential of your sandwich shop business. A comprehensive plan will help you to showcase and demonstrate your understanding of the market, your business acumen, your competitive advantage, and the overall potential viability of your business.
Step 3: Unique Aspects of a Sandwich Shop Business Plan
While sandwich shops share some similarities with other business plans, there are certain elements that make them unique. Consider including the following in your plan:
- Highlight the variety of sandwiches, sides, beverages, and other offerings you’ll include on your menu. Describe your pricing strategy, figuring in ingredient costs, competition, and target market preferences.
- Evaluate potential real estate and site locations for your sandwich shop. Consider foot and automobile traffic, accessibility, competition, and proximity to offices, schools, other retail establishments and residential areas. Real estate brokers can help identify opportunities and assess potential lease or purchase options.
- Outline your sourcing strategy for ingredients and other products, emphasizing quality and consistency. Describe how you’ll manage inventory to minimize waste, ensure freshness, and control costs.
- Detail your staffing strategy, including the number of employees required, their roles and responsibilities, and the hiring and training process. Discuss your training programs to ensure consistent product quality and exceptional customer service.
Step 4: Essential Components of Your Business Plan
Every sandwich shop business plan should include:
- A concise overview of your sandwich business, including your mission statement, business concept, target market, and financial goals.
- An analysis of the local sandwich market, including trends and competitors. Explain how your shop will stand out amidst other sandwich shops.
- Define your legal structure (sole proprietorship, partnership, LLC, etc.) and outline the necessary permits, licenses, and regulations applicable to your business.
- Describe your marketing efforts. Include strategies for brand positioning, social media presence, customer loyalty programs, and collaborations with local businesses.
- Detail the day-to-day operations of your shop, including hours, staff schedules, food preparation processes, and customer service protocols. Address potential challenges and viable solutions.
- Present a financial forecast, including startup costs, revenue projections, expense breakdowns, and profit margins. Include a timeline for breaking even and achieving profitability. Typical business plans have a worst-case financial model, a mostly likely projection and best-case scenario projection. Utilize Item 19 in the FDD provided by the franchisor as an integral part of this financial model. The model should also include a detailed monthly cash flow analysis to help you determine ongoing working capital needs.
A comprehensive business plan is essential to navigate the competitive landscape of the sandwich industry, and many sub shop owners choose franchising as an integral part of their overall business strategy.
Benefits of Owning a Sandwich Franchise with Penn Station East Coast Subs
Owning a Penn Station East Coast Subs franchise offers several advantages over starting a sandwich business from scratch. Right out of the gate, you’ll own a business dedicated to premium ingredients, outstanding customer service, and operational excellence. Our craveable menu, established brand and reputation have earned us a loyal customer base. The National Restaurant Association estimates that 30 percent of restaurants fail the first year. The Penn Station concept has been in existence since the mid 80’s, so the brand has longevity and has withstood the test of time.
Our award-winning four-week franchisee training program will equip you with knowledge to run your Penn Station location. Our support includes site selection, construction, information technology, marketing, and operations. After completing Penn Station’s steps to ownership, you’ll be ready to bring the quality food and exceptional service we’re known for to your customers.
We’ve got more franchise opportunities than ever as we expand into new markets. There’s never been a better time to own a Penn Station East Coast Subs franchise. To learn more, request information today!
The offer of a franchise can only be made through the delivery of a Franchise Disclosure Document. Certain jurisdictions require registration prior to the offer or sale of a franchise. We only offer franchises in jurisdictions where we are registered or are exempt from registration. Penn Station, Inc. 1226 US Highway 50, Milford, OH 45150. Penn-Station.com
OWN A PENN STATION
INTERESTED? CONTACT US
"*" indicates required fields
