For those who are regular readers of the One Fat Frog blog (and seriously, if you’re not, what the heck is up with you?), then you may have noticed that last week, we began a series of blogs describing how to create your business plan. Well, we’ve covered the basics, and then we got a bit more specific. So now it’s time to more specific of the specifics of the basics…if that makes sense.
So when you are getting ready to present your business plan, it might be a good idea to have the viewer to sign a confidentiality agreement. Let’s face it, if you’ve got an awesome idea, you don’t want anyone taking your ideas. So now, to the parts of your business plan:
-Cover Page: this identifies your plan; make it stand out from others.
-Table of Contents: just like any other table of contents, this helps potential investors peruse your plan easily.
-Management team: you might not have a management team in mind or in place when you first begin your plan, but when you do, you’ll want to give some background on the people on the team.
-Definition of your concept: once you’ve developed your concept, this is where you’ll explain it. Remember, if it’s new and different, you have to be creative with your explanations. We will discuss some more strategies for this next time.
-Your menu: in another post, we’ll discuss the menu, but as a preview, we’ll also discuss the costs and prices of different food items.
-Market analysis and plan: you’ve got to get the word out about your business somehow; this section is all about explaining how you’ll do it.
-Clientele demographics: are you making a family restaurant? A college bar? A hipster bistro (that I won’t visit)? You need to know if you’ve got the clientele to back up your concept, and this is where you’ll discuss it.
-Financials: this is really the bread and butter of your business plan. This is where all the numbers come together; the expenses you’ll expect to make, the sales you hope to bring in, a balance sheet, and anything else related to the money of your operation.
Remember, this business plan is going to showcase every aspect of your proposed plan, and if it was not mentioned before, a business plan can help you get potential investors for your restaurant. The better this is, the better chance you’ll get the start-up capital you’ll need to get the business off the ground. So, take this outline to heart and make sure it’s good. And once you’ve started your business, you can contact us about getting the used restaurant equipment you need. And once you’ve opened your restaurant, I’ll be there…unless it’s a hipster bistro.
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