| You have an idea, but no money yet. Whether | | | | Nature of Business: |
| it comes from a loan or from investors doesnt | | | | |
| really make too much difference, since theres | | | | The business will be a home-based catering |
| one thing that they all need to see before | | | | company, producing luxury food for special |
| theyll give you a cent. This is called a | | | | occasions such as birthdays and weddings. We |
| business plan. | | | | will provide a comprehensive catering |
| | | | service, with a special line in cakes, that |
| 1. Whats a Business Plan? | | | | have a higher profit margin than other foods. |
| | | | |
| Think of your business plan as being like a | | | | Target Market: |
| list of answers to questions that people | | | | |
| might have about your home business. You will | | | | The business is to focus on catering who want |
| not get outside funding without one, because | | | | luxury but still care about cost. To begin |
| the people giving you the funding want to | | | | with, our target area is within a ten-mile |
| know that youve thought through what youre | | | | radius of Anytown, to include the affluent |
| doing. A business plan says to them Ive | | | | area of Othertown. |
| considered this from every angle, and heres | | | | |
| what Ive come up with. | | | | Key Factors: |
| | | | |
| 2. But What Should Your Business Plan | | | | We will use industrial-quality ingredients |
| Include? | | | | but provide bespoke-quality design and |
| | | | service. This will allow us to provide food |
| What is Your Service? This is the first | | | | that looks excellent and tastes acceptable, |
| question every business plan should answer. | | | | while keeping costs low. |
| Just what is it that you plan to do? Tell | | | | |
| them that industry youre going to be in, and | | | | Expenses: |
| why youve chosen it. | | | | |
| | | | Since I will be using my kitchen for the |
| Who are Your Customers? Once you know what | | | | business and making the food myself, there |
| you do, the next thing you need to know is | | | | are only two real expenses: the one-off cost |
| who youre going to be doing it for, and so | | | | of a larger cooker, and then the day-to-day |
| thats the next thing that should be written | | | | cost supplies. A suppliers letter listing |
| on the business plan. You should also include | | | | prices is attached enquiries with others in |
| your area here. | | | | the catering industry have shown this |
| | | | supplier to be the best value for my |
| What Makes You Different? You need to say | | | | business. |
| what the key factors are that make your | | | | |
| business different to other businesses in its | | | | To finish it all off, you should include a |
| sector. What is it that youre planning to do | | | | breakdown of projected profit and loss per |
| to make the business succeed? | | | | month for the first year of the business, in |
| | | | the form of a graph. You would work this out |
| What are Your Expenses? Your start-up | | | | by working out a reasonable repayment of any |
| expenses include any equipment that you need | | | | one-off expenses and adding this repayment to |
| before you can get up-and-running, while your | | | | the day-to-day expenses, before graphing |
| day-to-day expenses are staff costs and | | | | day-to-day expenses against projected sales. |
| supplies. | | | | Your business plan should show you making |
| | | | enough of a profit each month to live if you |
| 3. An Example | | | | doesnt, then it will be considered unfeasible |
| | | | by anyone you show it to. |
| Note that this is a very short and sweet | | | | |
| business plan: in real life, each one of | | | | 5. Find Real Business Plans |
| these sections would be closer to a page in | | | | |
| length. That said, it is a bad idea to go | | | | Why not look at a real business plan? They're |
| into too much detail in your plan. Youre not | | | | out there on the Internet. Once youve seen a |
| trying to tell the reader everything, just | | | | few, you can start to get some idea of how |
| the basics of the business and why they | | | | much work is going to be involved to write |
| should give you money to help you build it. | | | | one of your own. Remember, until your |
| Always focus on profit. | | | | business exists for real, the business plan |
| | | | is a tool you need to constantly rethink and |
| 4. The Catering And Cake Company | | | | improve when new ideas come up to make the |
| | | | best out of it when it comes into reality. |