Outline any competitive advantages that you may have. Do you have any catering business qualifications or skills? Have you have experience in the hospitality industry? Do you have existing relationships with suppliers or prospective clients?
It also needs to be written in formal format and style. You have to remember that a business plan is something that you may have to present to your business partners, financial firms and banks. So if you can, refrain from using slang in any part of your plan.
Market Analysis : Undertake some market research to get a better idea of the opportunities that currently exist in your market. Do a competitive analysis to get a better understanding of your competitors. Once you understand more about them, set out a plan for competing against them by offering something different in the way of menus and services.
These areas require that you present a strong case for your proposed financial expectations, grounded firmly in the supporting information of your plan, including marketing, market analysis, business operations, and so forth. Having confidence in your business and in yourself will assist you in demonstrating the potential for your company and in being able to deliver what your investor is looking for. Doing your due diligence and knowing the facts surrounding your business and your market will prove to be of great benefit when selling your business case, both in writing and verbally, to the lender you are seeking funding from.
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