For example, at the moment we’re looking at our food-to-go offering and the possibility of making baguettes in-store.
This is a goal we’re aiming to hit this quarter,” he says. It was initially Jim is using his plan to make cost reductions.
“In its purest sense, the plan looks at where you’re going and how you’ll get there,” says Jim.
“I have a profit margin that I expect to achieve by adjusting pricing via epos.”Dean is currently using his plan to develop his business.
“I have a new bookkeeper, Ikara, and they give us monthly profit and loss forecasts based on our epos data.
I’d like to have a five-year plan, but it’s difficult to predict that far ahead, and it’s a case of having the time to do it.”“A business plan reminds you what you’re aiming for and helps keep your store in check.
I am hoping to achieve a 70% reduction in banking costs, meaning a saving of about £9,000.”Cutting costs is also on Trevor’s agenda.
“We look at a range of areas across the business, including staff training, ranges, and pricing.
Our staffing costs are quite high as the staff have been here a long time and are all on maximum wage,” he says.
However, he is already planning how to address this .