Planning To Open a Meeting Lounge Or Cafe – Startup Consulting Company
Qualifications required: No specific qualifications; a degree in Business Administration would help
Skills: Business management ,Marketing, Networking, Finance and accounting skills(you can hire an accountant alternatively)
Funding: Personal/ private investment; bank loan
Start-up cost: Anywhere from 20,000 USD to 40,000 USD depending upon the location you are planning to operate.
Meeting Lounge Overview:
Tread with caution when planning to open a meeting lounge or café. Most corporate companies have their own meeting/conference rooms, and Non-Governmental Organizations have limited finance to be able to afford a meeting place for their business. Business meetings today are either held over breakfast, brunch, or lunch. Most organizations opt for cafes or restaurants for holding their business meetings. But Meeting lounges do have their own niche market. Find yours. Know your target market and you will be able to build your business according to your target audience.
Business Plan for Meeting Lounge
Once you have decided on the basics, write a business and marketing plan. This is the foundation of any business. This will help you secure funding as well. A business plan should showcase your motto, your plans of running and sustaining the business in the long run, and projected revenue source.
Make sure you get all the necessary permits, licenses, and insurance required. Take care of legal and tax issues. Hire an accountant or business consultant to help you with this. Determine how much funding you need to set up your business. Contact private investors, obtain loans and use your capital to start your business.
How To Start ?
Decide your menu. This process will be able to calculate the cost of commercial cooking equipment. These are expensive; deciding on what kind of food you want to offer might help in cutting down the costs or at least prevent wastage on money on unwanted equipment considerably.
Decide how big you want your meeting lounge to be. Do you plan to offer multiple lounges to different clients at the same time? Or do you plan to keep it simple–one at a time? Deciding on this fact can help you decide the size of the space you want to rent. If you think you can’t handle too many customers, start small and simple. Ultimately, customers want a nice good place where they will get quality service.
Hire a reliable construction company and interior decorator to get your café ready. Choose a location which is convenient for your customers to reach. It should have high visibility, as well as be comfortable to reach. Invest in good interior decoration and comfortable furniture for your meeting lounge. Build your menu and price the food at a competitive rate. Hire kitchen staff, waiters and helpers. If, on the other hand, you would like your lounge to offer only a meeting place, then you can consider tying up with a reliable caterer for food delivery.
How to Market Your Lounge
Promote your business. Develop your logo and print business cards and fliers. Market well. There are various options available for inexpensive marketing. For example, you can make page on social media like Twitter or Face Book. You can send mailers and promotional calls to potential clients. Go that extra mile and spread word about your business.
Launch your business website to highlight the services, facilities you are offering. To associate with a good SEO (Search Engine Optimization ) team to ensure your website getting listed top in your area when a user searches on the internet. Do tie-up with the companies, corporate employees, etc by providing the best package you can offer.
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