Once the financial forecast of your eSports bar has been developed, you have the opportunity to put these figures and estimations into context by delving into the written part of your eSports bar business plan.
The editorial section of your eSports bar business plan is just as important as the financial forecast because it presents each aspect of the business in detail and proves to investors that you’ve thought carefully about the risks associated with it.
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It’s broken down into 7 sections, which we have summarized below:
How does the editorial part of an eSports bar business plan look?
Once the financial forecast of your eSports bar has been developed, you have the opportunity to put these figures and estimations into context by delving into the written part of your eSports bar business plan.
The editorial section of your eSports bar business plan is just as important as the financial forecast because it presents each aspect of the business in detail and proves to investors that you’ve thought carefully about the risks associated with it.
It’s broken down into 7 sections, which we have summarized below:
The executive summary
Think of this section as the equivalent of a cover letter for your eSports bar business plan. The aim here is to introduce your project to investors in as engaging and concise a manner as possible, encouraging them to read on and learn more about your exciting venture.
Company description
This section provides essential information about your eSports bar, from its directors and partners to its location and legal form.
Products and services
This section explains the service and products being sold by your eSports bar, as well as the prices you’ve set for each.
Market research
It’s within this section of the eSports business plan that you’ll present the results of the market research we mentioned at the beginning of this article. The objective here is to demonstrate that there is indeed a viable business opportunity for your eSports bar to flourish.
Your business strategy
In this part, you’ll reveal three key plans:
Your sales strategy – the prices you’ll set
Your marketing strategy – the actions you’ll take to attract customers and build customer loyalty
Your risk management strategy – how you’ll minimize the risks related to your business
Operations
From your employees to your relationship with suppliers, you’ll detail the operational organization of your business.
The financial plan of your eSports bar
The financial plan of your eSports business plan puts your numbers into tables that you’ll be able to present to potential investors, so they get a better idea as to your expected profitability and how much funding you need.
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3 key pieces of advice for writing an eSports bar business plan
Trends move fast in the gaming world, so make sure you generate enough cash to regularly renew your video games, consoles, and computers
Don’t forget the licenses required to acquire specific games for your bar, as well as to screen and organize competitions – and incorporate these costs into your financial forecast
Anticipate seasonality: on sunny days, people are more likely to want to frolic outside rather than play video games – so take measures to prepare your business for days over the summer where you’ll greet less customers.
What tool should I use to write my eSports bar business plan?
There are several tools available to help you write your eSports bar business plan. To ensure you pick the solution that best suits you, we’ve reviewed the pros and cons for each below.
Write your business plan using Excel and Word
This solution has one major advantage: it’s cheap.
Be wary, however, that you’ll need to have an accounting background (or at least be very good with numbers) to write your plan in this way without making mistakes in the calculations.
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Credit Source: https://www.thebusinessplanshop.com/en/blog/business-plan-esports-bar
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