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