Writing a Business Plan
While it may be tempting to put off, creating a business plan is an essential part of starting your own business. Plans and proposals should be put in a clear format making it easy for potential investors to understand. Because every company has a different goal and product or service to offer, there are business plan templates readily available to help you get on the right track. Many of these templates can be adapted for any company. In general, a business plan writing guide will recommend that the following sections be incorporated into your plan.
The executive summary is the first section that business plans open with, but is often the last section to actually be written as it’s the most difficult to write. The executive summary is a summary of the overall plan that highlights the key points and gives the reader an idea of what lies ahead in the document. It should include areas such as the business opportunity, target market, marketing and sales strategy, competition, the summary of the financial plan, staff members and a summary of how the plan will be implemented. This section needs to be extremely clear, concise and engaging as you don’t want the reader to push your hard work aside.
The company description follows the executive summary and should cover all the details about the company itself. For example, if you are writing a business plan for an internet café, you would want to include the name of the company, where the café would be located, who the main team members involved are and why, how large the company is, who the target market for the internet cafe is, what type of business structure the café is, such as LLC, sole proprietorship, partnership, or corporation, what the internet café business mission and vision statements are, and what the business’s short-term objectives are.
Services and Products
This is the exciting part of the plan where you get to explain what new and improved services or products you are offering. On top of describing the product or service itself, include in the plan what is currently in the market in this area, what problems there are in this area and how your product is the solution. For example, in a business plan for a food truck, perhaps there are numerous other food trucks in the area, but they are all fast –food style and unhealthy so, you want to introduce fast food that serves only organic and fresh ingredients every day. This is where you can also list your price points and future products or services you anticipate.
The market analysis section will take time to write and research as a lot of effort and research need to go into it. Here is where you have the opportunity to describe what trends are showing up, what the growth rate in this sector looks like, what the current size of this industry is and who your target audience is. A cleaning business plan, for example, may include how this sector has been growing by 10% every year due to an increase in large businesses being built in the city.
Organization and Management
Marketing and sales are the part of the business plan where you explain how you will attract and retain clients. How are you reaching your target customers and what incentives do you offer that will keep them coming back? For a dry cleaner business plan, perhaps if they refer customers, they will get 10% off their next visit. In addition, you may want to explain what needs to be done in order for the business to be profitable. This is a great way of showing that you are conscious about what clear steps need to be taken to make a business successful.
Financial Projections & Appendix
The financial business plan section can be a tricky one to write as it is based on projections. Usually what is included is the short-term projection, which is a year broken down by month and should include start-up permits, equipment, and licenses that are required. This is followed by a three-year projection broken down by year and many often write a five-year projection, but this does not need to be included in the business plan.
The appendix is the last section and contains all the supporting documents and/or required material. This often includes resumes of those involved in the company, letters of reference, product pictures and credit histories. Keep in mind that your business plan is always in development and should be adjusted regularly as your business grows and changes.
- Terms of Service
- © 2023 Ask Media Group, LLC
How to Choose a Phone Plan for Your Business
Every company needs an effective phone plan for their business. It’s important for all your employees to be able to communicate with each other. You also need to ensure that you can take phone calls from clients when they need to reach you. There are many office, VoIP and cell plans available, and your choice depends on what’s best for you. Here’s how to choose the best phone plan for your business.
The Types of Business Plan
If you’re looking for the perfect business phone plan, you need to think about which will benefit your organization most. There are loads to choose from and each have their advantages and disadvantages. It’s essential for businesses to have the best communications systems, because without this you’ll lose potential customers. Many people choose systems based on their convenience, but also look at how effective they are, the costs and if the system is up to date.
With so many options, businesses rarely know where to start. However, your primary goals will enable you to find the best phone plan for your business. Do you have a large team and need a strong internal communications system? Is saving money your primary goal? Here are some business phone plans, and their benefits.
Voice Over Internet Protocol (VoIP)
VoIP is taking over the business world, and many companies are ditching their landline service for the internet-based phone solutions. While making international calls on landlines is expensive, VoIP enables you to call anywhere in the world for no extra cost. Phone calls take place over the internet, and you can reach your employees wherever they are.
There are many VoIP solutions, including basic packages, options for mid-sized businesses and high-end solutions. It’s important to think about which solution is best for your business and avoid any hidden costs associated with high-end solutions. VoIP is great for companies and there is a range of technological benefits you won’t find with other providers. Search online to find the best VoIP providers.
Private Branch Exchange (PBX)
PBX uses hardware to route all calls through the office to and from a central connection. It connects all employees and enables easy transfers. PBX has many benefits, including its cost-effective solutions. Employees can make internal calls without the needs of connecting to an external network. This means that businesses can save money on phone calls, which is especially useful for small companies.
There are automatic capabilities, meaning PBX systems can automatically route calls. Basically, PBX offers an all-in-one solution, but it isn’t as technologically convenient as VoIP solutions. It depends on your needs, but remember PBX systems are best if you use over 12 phone lines. Smaller businesses might find that installing and maintaining a PBX system is too expensive.
Small businesses have one thing on their mind; money. They need to find cost-effective solutions to grow their business, but not bankrupt them. Most small companies use manual key-systems to route phone calls. As you add more lines, you’ll find a manual system less convenient and harder to manage.
Key systems are great when businesses are starting out, but if your business is growing then it’s best to choose between a PBX or VoIP solution. There are many positives to manual key systems, and providers are combining technology with the systems to make them better for small business owners to maximize their internal and external communications.
Is the price right? That’s what you should be considering. Many phone providers will offer comprehensive packages for both office and cell use. Combining these will save you money in the long-term and enable you to streamline your communication procedure. The more technology you want, the higher the price. You should weigh up the benefits of cost and convenience when making your decision.
Speak to providers and ask them what bundles they offer. You’ll want to supply your employees with cell phones if they travel out of the office regularly. Choosing a phone system doesn’t have to be complicated if you know what you’re looking for and consider your price limits.
MORE FROM BLOGLINES
Making a Risk Management Plan for Your Business
It’s impossible to eliminate all business risk. Therefore, it’s essential for having a plan for its management. You’ll be developing one covering compliance, environmental, financial, operational and reputation risk management. These guidelines are for making a risk management plan for your business.
When you start the risk management plan with an executive summary, you’re breaking apart what it will be compromised of into easy to understand chunks. Even though this summary is the project’s high-level overview, the goal is describing the risk management plan’s approach and scope. In doing so, you’re informing all stakeholders regarding what to expect when they’re reviewing these plans so that they can set their expectations appropriately.
Who Are the Stakeholders and What Potential Problems Need Identifying?
During this phase of making the risk management plan, you’re going to need to have a team meeting. Every member of the team must be vocal regarding what they believe could be potential problems or risks. Stakeholders should also be involved in this meeting as well to help you collect ideas regarding what could become a potential risk. All who are participating should look at past projects, what went wrong, what is going wrong in current projects and what everyone hopes to achieve from what they learned from these experiences. During this session, you’ll be creating a sample risk management plan that begins to outline risk management standards and risk management strategies.
Evaluate the Potential Risks Identified
A myriad of internal and external sources can pose as risks including commercial, management and technical, for example. When you’re identifying what these potential risks are and have your list complete, the next step is organizing it according to importance and likelihood. Categorize each risk according to how it could impact your project. For example, does the risk threaten to throw off timelines or budgets? Using a risk breakdown structure is an effective way to help ensure all potential risks are effectively categorized and considered. Use of this risk management plan template keeps everything organized and paints a clear picture of everything you’re identifying.
Assign Ownership and Create Responses
It’s essential to ensure a team member is overseeing each potential risk. That way, they can jump into action should an issue occur. Those who are assigned a risk, as well as the project manager, should work as a team to develop responses before problems arise. That way, if there are issues, the person overseeing the risk can refer to the response that was predetermined.
Have a System for Monitoring
Having effective risk management companies plans includes having a system for monitoring. It’s not wise to develop a security risk management or compliance risk management plan, for example, without having a system for monitoring. What this means is there’s a system for monitoring in place to ensure risk doesn’t occur until the project is finished. In doing so, you’re ensuring no new risks will potentially surface. If one does, like during the IT risk management process, for example, your team will know how to react.
- Terms of Service
- © 2023 Ask Media Group, LLC
Keg Business In Kenya, Start A Successful Keg Beer Bar Enterprise (Price)
If you have a Keg business idea, here is how to start a successful Keg business in Kenya.
Keg Enterprise is one of the most profitable jobs in Kenya. With the high number of alcohol users, one cannot go a day without earning an awesome amount of cash.
But to start a successful Keg business in Kenya, you may want to look at what you may need, the costs, requirements, and the best places to set up a keg venture.
Table of Contents
How Much Does It Cost Of Starting A Keg Business In Kenya
Starting a Keg business is quite hectic, and the amount of funds required to set up and run such a business is fairly huge.
The reason is apart from renting a building, you would want to make the place look catchy and attractive to drinkers.
This means that you have to buy speakers, have tables, have sat, and have a television and some sofas for the VIP guests.
The drinks you offer should also have a variety to fulfill every customer’s desires.
There are also beer pumps that you will need, so if you are looking to start a Keg business, I would advise you to have at least 800,000 shillings.
Tips On Starting A Keg Business In Kenya
Here are some factors to consider to make your Keg business in Kenya profitable :
1. Look for a suitable location, one that can easily be accessed and has high security in case of anything.
2. Know your target audience.
3. Have the right business permits and insurances.
4. Market your Keg enterprise everywhere, including online.
5. Once in a while, have offered to attract more customers.
6. Look for lively employees to make your business better.
7. The most important thing is despite wanting profits for your business, only sell Keg to persons over 18yrs.
Requirements For Starting A Keg Beer Bar Business
Below are the requirements to start a Keg Business in Kenya:
- License from the Kenya Bureau Limited.
- a business permit from the city council within your area.
- A public health certificate
- Enough capital to start and run the Keg enterprise.
Places To Start A Keg Bar Business In Kenya
When setting up the business, you want a place where the market is good, and you can be assured of daily profits.
Here are some of the places you can set up a Keg business in Kenya:
- Look for places near eateries or recreational centers.
- Also, outside universities and colleges.
- Near main roads
Benefits Of The Keg Beer Business
The Keg enterprise is one of the most profitable businesses despite the high setup cost.
In the long run, you will earn more and more profits, and with time, all the investments will have returned.
That is all you need to know on how to start a successful Keg business in Kenya.
Leave a Comment Cancel Reply
Your email address will not be published. Required fields are marked *
How To start A Keg Business In Kenya Easily For Profits Now
Keg beer business is among the most profitable business in Kenya you can consider investing. People in Kenya love having fun but they do it in different ways. Majority of people nowadays have great fun in bars.
This creates a demand for opening a Keg bar business in order to accommodate the many people in the bars. Keg bar business is made legal when you acquire the right license to run your business.
Besides, you can as well specialize in having a bar and a restaurant which will make you acquire the bar and restaurant license in Kenya.
Here is the procedure on how to start a keg business in Kenya:
Step 1. Intensive market research should be carried out to see whether selling keg in Kenya is worth investing.
Step 2. Write an effective keg business plan that will act as your road map in your business thus helps you avoid overspending on unnecessary things.
Step 3. Find a suitable place where you can set up your bar and acquire as many customers as possible such as busy places like towns, your residential area.
Step 4. Apply for licenses such as keg business license, public health license, fire and safety permits, music permits, among others.
Step 5. Get your capital together that you will use to buy the necessary items that you will use in your business.
Step 6. Hire few personnel that will help you in running your keg business.
Step 7. Launch your keg bar business.
Step 8. Market your business in order to attract more customers.
This is also the procedure that you can use on how to start a liquor store in Kenya. All the best in your keg business.
Profitability Of Keg Business In Kenya
Is bar business profitable in Kenya? Yes, bar business is a highly profitable business in Kenya that many people have not discovered making senator keg distribution have minimum competition thus earning more money.
Bar Equipment Prices
You may also desire to know the average market prices of equipment used in bars:
Keg barrel price Kenya is Ksh.3,200 for a well filled 50 liters keg barrel.
Keg pump price in Kenya is Ksh.12,000.
Senator Keg price Kenya has shifted from Ksh.3,200 to Ksh. 4,500.
Keg cylinders for sale in Kenya can be found in Jiji, Kenya Breweries limited, East African Breweries, etc. Keg beer pumps can also be found in this companies as well as the jua kali industries.
In summary, keg beer business in Kenya can help you earn more money on a daily basis. It is the business that will make your dreams come true due to its high profitability rate.
At Kenyans Consult, we are proud Kenyan writers. We write anything that pertains to Kenya and is worth sharing. We hope to share more about Kenya with the world through our writing. Check our articles to learn more about Kenya.
Newcastle vs Arsenal: Clash of Titans - Live Stream, Team News, and More
In an electrifying face-off at St. James' Park, Newcastle United braces itself to challenge the unstoppable Arsenal this Saturday at 1:30pm ET. The Premier League battle promises intense action and...
Government Spokesman Office Finds New Home at the Presidency
In a groundbreaking move that heralds a new era for government communication, the office of the government spokesperson has been relocated from the Ministry of Information, Communication, and the...
Keg Business In Kenya, 2022, How To Start Profitable Keg Business Ideas
You might be having an idea to start up a Keg business in Kenya that will be successful.
The high number of alcohol consumers in the country makes Keg business one of the most successful ventures in the country.
However, to start a successful keg business, you may be interested in finding out the requirements, costs, and the best places to set up your business.
How much does it cost to start a keg business in Kenya?
A keg business is one of the most tiresome businesses in Kenya that require high funds to run.
This is because you may have to highly decorate your place to attract consumers, including renting a home to set up the business.
It would be best to include speakers, televisions, seats, tables, and sofas for the VIP guests in your budget.
The drinks you offer should also be in a variety to satisfy each of your consumer`s needs.
You will also need beer pumps, and so if you are settled into starting a keg business, you should have Ksh. 800 000.
Tips on starting a Successful keg business in Kenya
If you want to start a Keg business, then you need to follow the guide below:
- Look for a suitable location for your Keg business. It should be one that can be easily accessed and with high security if anything happens.
- Know your target audience.
- Have the proper business permit and insurances.
- Market your keg enterprise everywhere, including online.
- Once in a while, have offers to attract more customers.
- Look for lively employees to modify your business.
- The most important thing about the business is that you should sell keg to persons over 18 years.
Requirements for starting a keg business in Kenya
Here are the basic requirements for starting a successful Keg business in Kenya:
- You need to obtain a license from the Kenya Bureau Limited.
- Also, get a business permit from the city council within your area.
- Furthermore, obtain a public health certificate.
- Secure enough capital to start and run your keg venture.
Best Places to start a keg business in Kenya
If you want to start a profitable Keg business , then here are some of the best places to site your business:
- Places near recreational centers and eateries.
- Outside universities and colleges.
- Along main roads.
Benefits of the keg business
Despite being one of the most expensive businesses to run, the keg business is also one of the most profitable businesses that gradually return their investments.
This simple and easy article Was Last Updated on December 6, 2022 by Nana Abrokwa
Please you wish to visit this post “https://thebusinessalert.com/keg-business-in-kenya/” ocassionally for changes and updates that we will make to this article.
Check this ultimate guide: https://thebusinessalert.com/sunlearn-student-portal-login/
In the year 2022, we bring you the best of banking and money transfer experience. Just stay tuned for more articles.
Check this ultimate guide: https://thebusinessalert.com/irs-code-290/
- Honeywell Home RTH6580WF Wi-Fi 7-Day Programmable Thermostat
- Bereal App Download, Install Bereal App On Your Phone
- How To Unfriend Someone On Bereal, Unfollow On Bereal
- Is Bereal Down, No, But, Here Is A Fix
- How To Post on Bereal Late, Post Later On Bereal
- Bereal Screenshot, Take A Screenshot On Bereal
- How To Take A Bereal, Follow These Steps
- What Is A Bereal App, Find Out How It Works
- How Does Bereal Work, Get Full Details Below
- How To Post A Bereal, Step-By-Step Guide
How Do You Earn Flight Miles, 2022, Earn Free Flight With Frequent Flyer Miles
12 Best Ways To Make Money Fast Online A Young Entrepreneur, 2022, Follow These Steps
Return On Investment (ROI) In Digital Marketing, 2022, How To Calculate ROI
Top 17 Affiliate Marketing Mistakes You Should Avoid, 2022, According to Experts
Santander Online Banking, 2022, Ultimate Guide To Santander Internet Banking
Lloyds Online Banking, 2022, A Simple (But Complete) Internet Banking Guide
Leave a comment cancel reply.
Your email address will not be published. Required fields are marked *
Please enter an answer in digits: 7 + 19 =
By using this form you agree with the storage and handling of your data by this website. *
This site uses Akismet to reduce spam. Learn how your comment data is processed .
- BT FACTCHECK
- PERSON OF INTEREST
- REAL ESTATE
- SMART MONEY
- BRAND VOICE
- ENTERPRISE 101
- IN HER WORDS
- POWER WOMAN
- SMART BUSINESS
Read the News
- Smart Business
Technology Leaders to Converge in Diani for CIO100 Awards
False: this photo does not show floods in nairobi, these photos purportedly showing president william ruto’s office are satirical, missing context: this video of johnson sakaja criticising bottom-up economic model is old, bad news for standard group investors, standard pushes out 40 employees through early retirement, nmg profit warning: going gets tougher for kenya’s biggest newspaper company, gloom hangs over standard group ahead of ceo meeting, kenya’s media monitoring firm globetrack shortlisted for international awards, kiambu farmer minting money from unique cabbage, cerave introduces acne skincare product to kenyan market, sudden, severe headache could be a sign of stroke, 6 things wealthy people do to plan for retirement.
Why You Should Start Keg, Alcohol Business – And Disadvantages
T hink about how many people are drinking right now…in clubs (some clubs are open now!), in local bars, which are the worst, and in liquor stores christened wines and spirits shops, where it is still unclear whether you should drink while standing or take it with you.
Starting a bar or pub business in Kenya is a lucrative venture, first, because of the market in that one in every 8 Kenyans aged 15 – 65 years (3,199,119) reported that they drink alcohol according to the 2022 Status of Drugs and Substance Use in Kenya report by the National Authority for the Campaign Against Alcohol and Drug Abuse (NACADA).
Where can you set up a bar in Kenya?
Finding whoever will buy your alcoholic beverages shouldn’t be a task whenever you want to enter the liquor business. Look out for populous locations like shopping centers, marketplaces, towns, and cities because friends often meet there, and people know people and spend time around these places.
Because alcohol must not be sold to those under 18, starting your bar business near higher learning institutions can be the perfect decision you can ever make as students, especially of public universities, are internally known to be heavy drinkers and regularly meet ‘when classes are not there’ times at drinking places around their campuses.
What to do to be successful…
Owning a go-to bar in the hood looks more like a blessing when the major part of it relies on the decisions you make concerning location, the bar environment, the alcohol brands you are selling and their price points, and many more bar business concepts that involve careful planning and efficient execution.
Choosing the right location means a place that is accessible and not too far from where the target market operates or the ‘catchment area,’ especially a place where it is within walking distance. It should always be a secure place during the day and at night because drinkers want to get home safely without worry of losing their valuables, life, or both after getting their ethanol treatment.
The bar interior is also important – if you want to boost its performance and your sales by attracting more consumers. Set it up with the best layout design that is both impressive and expressive to create a sophisticated but intimate bar space. Do not forget to play music.
>> Peter Burugu: Meet The Beer Billionaire Supplying Nairobi’s Drinkers
Deciding on the type of alcohol brands you will sell typically comes after understanding your customers. If you have opened a pub close to colleges and universities, selling Senator beer or ‘Keg’ is more profitable because consumers there prefer low-cost options.
Startup costs of a small drinking establishment vary greatly based on location, but it is anywhere between Ksh700,000 – Ksh1.5 million, inclusive of licensing expenses, equipment, and bar stock.
However, the Keg business boasts lower initial capital outlays of less than Ksh450,000. Let’s say you rent a bar space for Ksh35,000, use Ksh50,000 to organize the required licenses and permits, and use Ksh200,000 to get bar equipment. You will remain with over Ksh160,000 to hire bartenders and purchase keg beer for around Ksh4,500 to Ksh6,000, the wholesale price of a 50-litre barrel from certified Kenya Breweries Ltd and East African Breweries Limited (EABL) distributors. The average price of a Keg pump is Ksh12,000.
To show that the Keg business is profitable in Kenya, when you sell a 2-litre jug of Keg beer at Ksh200 each, you get Ksh200x25, a roughly over 60% profit before deducting transport and operating costs.
A mug of one litre of Keg beer is sold at Ksh120 in most local bars. The 500ml cup costs a standard Ksh70.
What not to do;
Ensure you renew your license on time to avoid crushing your head with the authorities, who often demand side money for bribes after getting you with the smallest of mistakes, even personal mistakes. It will reduce your profits.
Open your bar at required times, and do not sell alcohol to persons who have not yet reached 18 years old because it is prohibited by law . Also, sell the approved alcoholic beverages to promote healthy drinking.
The main disadvantage of owning a bar is high overhead expenses before it becomes operational. Bar equipment like catering appliances, dispensers, freezers, and fridges are expensive.
Getting enough bartenders, mixologists, servers, managers, and security for your bar business will set you back some good cash.
>> Meet The Billionaire Behind The Multi-Billion Shilling EKA Hotel
- Alcohol business in Kenya
- Bar business
- Keg beer business
University Graduate Turns to Fishing After Failing to Secure a Job
Success and profit: how to make money with your own online casino, safaricom to power tusker oktobafest beer festival, music producers launch organization to streamline recording industry, nairobi’s hero bar listed among world’s 50 best bars, kenyan djs face off in smirnoff battle of the beats season 3, the highs and lows of betty kyallo, sisters show as season 2 ends, dstv beats cnn, bbc to become most admired media outlet in africa, multichoice revises subscription fees for dstv, gotv, octopizzo: how i make my money, new spotify equal artist qing madi talks music and dreams, bob collymore immortalized in new festival.
LEAVE A REPLY Cancel reply
Save my name, email, and website in this browser for the next time I comment.
Notify me of follow-up comments by email.
Notify me of new posts by email.
© 2023 - All rights reserved. With a finger on the pulse of Kenya's dynamic business environment, Business Today ensures you stay ahead in the game, providing you with the knowledge you need to make informed decisions and navigate the ever-evolving Kenyan business scene.