 Do you want to start a cloud kitchen aka a ghost kitchen? Well, today you're in luck because I'm going to be showing you the steps to create your business plan So you can create a thriving cloud kitchen. Make sure you guys keep watching Hello friends, my name is Wilson your friend in helping you build a thriving small business and a profitable food business Are you thinking about starting a cloud kitchen? Let me know in the comment section below and by now you have already heard of all the raves about cloud kitchen virtual kitchen and Ghost kitchens and if you haven't already make sure you guys check out this video where I talk about What this whole thing is well for those of you that don't know what cloud kitchen is cloud kitchen is like Airbnb But for the kitchen space, what does that mean? That means you don't need to do renovations You don't need to hire a bunch of people and on top of that. You don't need to sign a three-year lease That's the beauty about cloud kitchen. It is much cheaper to start than a traditional restaurant Now having said this that doesn't mean you should skip out on all the right fundamentals to start off your Operations the right way and that's the reason why you must start your operations by writing a proper business plan So first and foremost, why do you need a business plan? It is because it provides the clarity for your business clarity for your vision the fundamentals and all the different areas of your business That you need to think about for example Marketing your recipe your pricing all these things needs to be thought about in the very beginning So then that way we know exactly how to get to our destination when you're running a business It is very easy for us to lose track on what we're doing and getting confused into the mixes And that's the reason why having a business plan gives you so much more clarity because you can always come back to this As a reference point about now it is time for us to work on to the next step Now the second reason of why having a business plan is so important is because it allows you to find the right partners Now what do I mean by that because everything that we think about the vision that we have are all in our minds We must be able to extract what's in here put it on paper and to actually go and find the right partners When you are able to show the vision that you have to potential partners now You can attract a listed players and partners to help you out to partner up with you to build this big brand That you have in mind and if you're thinking about well, how do I find the right business partner? Then definitely check out this video where I dive deep about finding the right business partner And lastly majority of the people that are out there to create their business plan is because they need to raise funds They need to raise funds from either friends families angel investors or the banks now Why do they all ask to see a business plan? It is because they need to see you Are understanding all the fundamentals of your business. They want to make sure they get their money back So the more detailed and the more areas that you cover The better it is for you to get funding for your ghost kitchen operations Now as a disclaimer I'm only going to be covering all the essential parts of a business plan So then that way you can understand why these points are so important Now before we dive into the 10 critical components you need for your cloud kitchen business plan Such as your team your financials your concept marketing Go ahead and smash like button because that's what's going to get you the funding You're going to get the funding from your friends your family the government Smash like button so your dreams will come true. All right. Let's get your piece of paper and pen ready step number one Your concept. What is your concept? Are you creating a burger joint a pizza joint a chicken wing joint? Write down your concept and your unique selling proposition. What is your unique selling proposition? Why do you exist? What makes you special? Now when we're thinking about this concept, we must always come back to the problem that we're solving What problem are we solving in the marketplace? Are we serving comfort food? Are we serving a really good delicious bites for share during game time? We must identify the problem we're solving and the unique way of why and how we're bringing it to the marketplace That's what makes you special and the last point when it comes to concept You must build something serve something that has a proven demand For example, one of the biggest companies out there fazus They only create brands and concepts that has a proven demand in that specific area And that's the reason why you must do your research You must study what your competitors are doing to get inspiration from them to serve Something that you are serving that is uniquely you now We don't want to sell something that does not have a proven demand So that's the reason why always do your research Now if you are having troubles finding the concept idea finding what you want to sell finding what is in demand And what is popular check out this video where we talk about the most profitable items for a cloud kitchen The second point that you need in your cloud kitchen business plan is your team You must include the credentials of your founding team. Why is that important? It is because I want to know as an investor who are the brains behind this operation What are some of their technical background that makes them have an edge an advantage Of running this business, especially when it comes to ghost kitchens We don't need you to have a lot of education. No, it's not about the education because ghost kitchens is heavily on Operations, so if you can highlight some of the examples some of the areas that you have Done in the past experience that you have from the past that can highlight this specific area Operations, then you're going to have an advantage over other people who hasn't done this before Another area that you need to add into this Biography of yours is any credentials that you may have any other resources and networks that gives you an advantage Overall, we want to highlight what makes you special What gives you the winning edge over someone else Who's operating this business Now a lot of people have been asking me what if I just don't have any experience running a food and beverage Location it is completely okay because we just want to highlight what makes you special What makes you unique what makes you deserving of this opportunity? So if you cannot think about anything Then you must go back to the drawing board You must be able to extract something that makes you special makes you The one that is deserving of this opportunity And lastly when you are assembling your team, you must look at what each individual Brings to the table. What value do they bring to the table that other people don't have? For example, when we assembled our team for our ice cream shop I brought in my supplier as a partner and the reason why I brought him in is very Strategical it is because he can provide us with the lowest rates We brought in an operational specialist who can run our locations for us And that's the reason why I brought in this team and assembled this team for very specific reason Which ended up allowing us to sell this whole business So for you assemble your team strategically and see what they bring to the table Now the third component for your business plan is target market So remember I talked about how your concept solves a problem in the marketplace for a very specific demographic Well, this is where we highlight this problem We highlight the problem the specific person is having and how your product Is solving that problem now For example, if you want to serve the young millennials looking for some hip food looking for some comfort food And you're serving smashed burgers then the branding that you person must be more hip must be more millennial Must be more modern so then that way you can attract this specific demographic By you being able to clearly identify who you're serving Now you can understand how to communicate with them where to communicate with them and what to communicate with them What are they struggling with what are the biggest frustration? Is it not being able to find the greasiest most comfort food at a convenient location at an affordable price? Now if that is a big problem, then you can solve them and meet them where they are at Now when it comes to marketing. Well, where are they hanging out? Is it on tiktok? Is it on instagram? And if they're on instagram or if they're on tiktok Then you are going to do all your marketing on those platforms because That's where they're hanging out by you clearly being able to identify your target market You can now profile them that allows you to not only market to them, but also to sell to them properly This is a very critical component in your business plan because this gives your partners your investors and yourself The clarity of the problem you're solving for your customers And if you're able to match that up properly, then you have a thriving business But if you fail to do this, then you should go back to the drawing board and find out What is the problem you're solving and whether your product can really solve this problem for this specific demographic And if you want to increase your chances of getting even more funding from your investors or your friends or your family Then you must attend this free live masterclass in the link below This masterclass is where we cover on how you can create your food concept and make it a thriving business Allows you to understand how you come up with that idea How you identify your customer avatar and how you can market to them properly So definitely go sign up for this free masterclass in the link below. I'll see you guys in the class The fourth component for your business plan is your location location location location We always emphasize the importance of location And this is no different even when it comes to having a ghost kitchen operations This is also one of your biggest startup costs So you must be able to understand how to pick the right location And the variables to look for when choosing your location Is the location at where your target market lives if you're selling ethnic food Is your location going to serve this type of people? Does the location have the equipment that allows you to create your type of food? What are the hours of operations? Are they flexible? Is the location easy for drivers to come and grab your order to deliver? Or do they have to walk 10 minutes just to grab your order? Is the location safe and secure? So then that way you don't run the risk of being robbed because once again when you're in this trade You're going to be here for hours on end. Does the location have cleaning and disposable facilities? Does the location have city permits and do they abide to the regulations? Do they have good inspection history and what other additional amenities do they have? Now these are just some example questions that you should ask when finding a location So definitely do your research understand all these type of questions So then that way you can make the best judgment The fifth component in your business plan is your sample menu. What are you planning to serve and why? Every item that you serve on your menu should have a very specific reason of why You should always challenge the menu item that you're proposing With why and what problem does this solve for your customer? Are the items good for delivery? If you're selling fries probably not the best idea because it takes 30 minutes to get your customer's place And it's going to arrive all soggy Are the menu items that you're proposing comforting because a lot of people that order food from home They are looking for comforting food Are the items that you're offering going to still remain tasty after 30 minutes? Or is it just going to be a clump of a big mess like for example spaghetti? Are the menu items you're proposing complementary items making sure that it upholds your hero item? Are these items supportive of what you're serving for example, if you're selling burgers Complementary items would be drinks would be desserts would also be fries because these are the items that you can include as a bundle That makes your average order value much higher Are the items you're proposing giving you good margins? Do you understand the cost of goods sold? How much do you actually make by serving each of these items? Now these are just some of the questions that you must ask yourself when creating your sample menu Now you might be thinking well, Wilson, I really don't know what my customers are wanting The best way you can do this is to go and actually survey them ask them what they're wanting Ask them what items they would order in addition to a burger Ask them how much would they pay for it? The best way for you to find answers is to validate it through your customer avatar your target markets The sixth critical component for your business plan is your design. What does your branding look like? What does your logo look like? What is Your whole experience for your customer. Are you going to customize your packaging or do you not care about your packaging? How does your logo look like? How does your instagram look like? We must be able to share our vision what we have in our minds with our investors with our partners So the best way for us to do that is by designs by us including these mock designs in our proposal Now because you don't have a brand yet, or if you have problems finding a designer There are multiple different resource where you can find a great designer resources online such as upwork.com Or fiverr.com the seventh component for your business plan is the SWOT analysis Now it is great for us to identify who we're serving to our branding What our concept is and our menu. These are all great things But without us understanding what is in the marketplace. It is very difficult for us to maneuver We must know what is going on and that's the reason why it is so important for us to create a SWOT analysis What does it stand for strength weakness opportunity and threat Strength what strengths do you have over your competitors? Is it your branding? Is it your unique way of your recipe? You must identify what makes you special Second weakness. What makes you weak compared to other people? Is it your lack of experience? Is it your lack of resources? What is your weakness third opportunity? What is the trend or the gap within the marketplace that you are trying to take advantage of? This could be in price point. This could be in convenience What is it in the marketplace where you see an opportunity that you can fill? And lastly threat what puts your business in a very vulnerable position whether it be increasing rent prices Or increasing Ingredient prices or your competitors. These are all posing threats for your business by you identifying and creating this SWOT analysis This allows you and also your investors and also your partners to have a clear vision of what the marketplace Looks like so you and your partners are most informed in this playing field The eighth critical component for your business plan is marketing This is by far my favorite section because this is where all the sexy stuff happens How do you plan of bringing your brand to the marketplace because at dinner date? It's great to have great food good quality great photos But if you don't have a plan of action plan of attack to go to the marketplace to let everyone know About your great creations. You basically don't exist being just on third party delivery apps is not good enough We must identify what are the steps? What are the plans? What are the strategies that you have in mind to go to the marketplace? Some examples of marketing that you can actually use for your ghost kitchen would be running facebook ads social media influencers collaborations brand deals Contest seo your website email marketing a lot of different areas that you can do Choose one or two or even three for you to focus on have a detailed plan So then that way you can execute it to the tee once again It's not about having touch on all these marketing channels No, it's about being good and having deep in these verticals choose one to three So then that way you can really execute well Now if you're still in the idea phase Then you must attend the free master class in the link below this master class covers an hour long of business plans ideas Marketing and also how you can actually bring an idea to fruition to marketplace create a good thriving food business In this free master class. This is what we cover go sign up right now And i'll see you guys on the inside next up We have financials great to know the marketplace great to know what you're selling But if you don't know your numbers you're in big doo doo, so you must know your numbers. I know this is not fun I know this is really dry But it is so important especially if you're asking money from investors from banks You must know your numbers especially Because third-party apps take such a big cut You must know and account for the commission that you're paying them Know how much your food costs is know how much you're paying for marketing and know how much you can make in profits You must have a roadmap on how long does it take for you to recoup your costs? How much are you investing in building this whole business? Everything should be as detailed and as accurate as possible Everything that you have in mind everything that goes into running a business You must include in this financials because the more you can put down the more accurate it is The more accurate it is the more feasible the plan becomes Last thing your investor wants to see is something that is not accurate something that is not realistic Then it shows the lack of preparation on your end and that means you're not ready for their investments Now when it comes to determining the startup costs, we must identify how much inventory we're budgeting What are the design costs? What are the licensing costs? What are the initial investment that we need to put for rental? How about labor? These are all key components that you must include in your startup costs So then that way we know how much we are asking for from the bank and how long does it take for us to pay back this investment And lastly guys, I want you to end off your business plan with the vision The vision of where you want to bring this operation this whole brand. What are you trying to build? What makes you want to jump out of bed every single day go through hoops go through hurdles Go through all the hardship Just to create something you're so passionate about Where do you want to bring this brand? Identify that ask yourself that and put this in the business plan because ultimately Facts will not sell You must sell your vision because that's what other people will buy into you. It's your vision So there you go friends the 10 critical components for your cloud kitchen business plan These steps you must go through them thoroughly because this is going to increase your chances of getting the funding Getting your partner of your dreams Getting to start something you're passionate about and if you want additional training You should definitely attend the free masterclass in the link below where we share with you some executable Strategies that you can include in your business plan, which would increase your chances of getting that investment This is a free masterclass that i've conducted for you. So definitely go check it out in the link below Otherwise, I really really hope that you enjoyed this video And if you do help me out, please and smash the like button. Otherwise, I'll see you guys in the next video