Business Plan of Cafe
1 Executive Summary
1.1 Company and Product Information
OpenHearts Café is a recreational café company that aims to provide NTU students with a meaningful experience of their university life. Apart from providing food and beverages, our café aims at providing a place for relaxation and fun for students, a place where they can temporarily forget about their academic workload and other stresses. Our café solves the pain-point of NTU students not having a place to freely be loud and celebrate with their friends, which is an essential part of university life. Located slightly away from residential and academic areas, OpenHearts Café offers an easy solution to this problem.
1.2 Opportunity
Considering that there is currently no such place in NTU where students can behave like children, and ‘let go’ for a while, our team believes that there is tremendous opportunity for such a café.
1.3 Competitive Advantage
Since we ourselves are NTU students, we have an edge over external cafés who might want to open up branches in NTU, as we understand the problems faced by NTU students, and what will be preferred most by them. We are also in a position to communicate directly with students, who will be our customers, to understand what exactly they want.
1.4 Market Strategy
Our marketing strategy will be to provide a unique service, catered specifically to meet the needs of NTU students. To achieve an edge over competitors, and provide the best service to our customers, we will provide an ambience that is not available elsewhere on campus. We will also aim at providing ‘More for Less’ through competitive pricing. We will mainly use social media and posters/flyers on campus to promote OpenHearts Café.
1.5 Financial Projections
The start-up cost of the business will be around $200,000, which we expect to secure from NTU Ventures, SPRING Singapore and some other venture capitalists. With this investment, we start earning positive cash flows in the first month of operations,
1.1 Company and Product Information
OpenHearts Café is a recreational café company that aims to provide NTU students with a meaningful experience of their university life. Apart from providing food and beverages, our café aims at providing a place for relaxation and fun for students, a place where they can temporarily forget about their academic workload and other stresses. Our café solves the pain-point of NTU students not having a place to freely be loud and celebrate with their friends, which is an essential part of university life. Located slightly away from residential and academic areas, OpenHearts Café offers an easy solution to this problem.
1.2 Opportunity
Considering that there is currently no such place in NTU where students can behave like children, and ‘let go’ for a while, our team believes that there is tremendous opportunity for such a café.
1.3 Competitive Advantage
Since we ourselves are NTU students, we have an edge over external cafés who might want to open up branches in NTU, as we understand the problems faced by NTU students, and what will be preferred most by them. We are also in a position to communicate directly with students, who will be our customers, to understand what exactly they want.
1.4 Market Strategy
Our marketing strategy will be to provide a unique service, catered specifically to meet the needs of NTU students. To achieve an edge over competitors, and provide the best service to our customers, we will provide an ambience that is not available elsewhere on campus. We will also aim at providing ‘More for Less’ through competitive pricing. We will mainly use social media and posters/flyers on campus to promote OpenHearts Café.
1.5 Financial Projections
The start-up cost of the business will be around $200,000, which we expect to secure from NTU Ventures, SPRING Singapore and some other venture capitalists. With this investment, we start earning positive cash flows in the first month of operations,