Business Plan #1

Everyone, Landlords, Bankers, Investors and employees will ask to see your Business Plan. The magic of a plan is that it requires you to convey your idea in a concise, understandable and logical format. The plan is a blueprint for the business. It lays the foundation for how you will create, design, build, market, staff and operate the restaurant. A plan for the first restaurant is actually a tremendous tool because for the first time you as an entrepreneur have crystallized in your mind how everything will operate. The are many elements for a Business Plan, The Executive Summary, the Mission statement, The company structure, the actual operational plan, Market Analysis, the Management Team, and finally the Financial Plan which outlines how you will finance this dream of yours. The element that is crucial is the Executive Summary. People will read the Executive Summary, if the idea peaks their interest, they may scan the rest of the Plan. The limited window of opportunity is the Executive Summary. There is an oft used phrase in hospitality, ”people buy the sizzle, they do not buy the steak”. The Executive Summary is all about “Sizzle”. Convey your passion for the project.