Cendol, as a traditional beverage, which contains cendol particulates, coconut milk, and palm sugar, is enjoyed by many people in Indonesia. Rice bran is a very nutritious by-product of rice milling but is underutilized in Indonesia. The objective of the research was to develop a rice bran cendol combined with kappacarrageenan as gelling agent to produce a healthier traditional beverage and then to make a business plan for it. The effect of different concentration of rice bran (0, 25, 50, 75, 100%) and k-carrageenan (0.5, 1, 1.5%) was observed in this research. The rice bran cendol was subjected to sensory analysis using 70 untrained panelists and analyzed for its physical characteristics. Cendol with the highest consumer acceptance product from the hedonic and scoring test result in terms of chewiness, taste, color, aroma and overall acceptance was cendol with 25% rice bran flour and 1% k-carrageenan. The chosen cendol formula contains 86.40% moisture, 0.27% ash, 1.98% protein, 4.24% fat, and 6.60% carbohydrate. It was also a source of dietary fiber which has 4.42% of dietary fiber but contained negligible amount of vitamin B3. The amount of dietary fiber per serving is 1.989 g in 250 ml liquid (0.7956%). Afterwards, the business plan was made, branding the rice bran cendol with the name Go-Fib Cendol. The business plan includes company management, production process, human resource management, financial plan, distribution process, selling, and marketing. The financial projection (pro-forma income statement, cash flow statement, and balance sheet) and financial ratio (profit margin, return on asset, return on equity, and total asset turnover) for two years was also calculated to analyze the feasibility of the business. The result of the calculation showed the business will not achieve profit in the span of only two years.