HELP...I Need Cash! (AKA Creating a Business Plan to Acquire Funding) ; Another reason to create a business plan is to acquire funding. In today's struggling economy, having access to cash as a small business is vital. In developing plans for this reason, a much more specific approach is taken. Here, the plan is created with a specific reader in mind: the lender. Whether seeking funds from a bank, an angel investor, or so forth, knowing your audience is vital.
Goals : Set out some growth targets and other goals over the short and medium terms. Goals for a catering service could be the number clients, the number of events, total revenue or average profit margins on events. Refer to your business plan regularly and push yourself to keep up with the goals that you set.
Include a personal background. There are many good reasons to start a catering business and you should let readers know why you are drawn to this industry above all others. Outline your working history and attach any relevant reference letters as an appendix to the plan.
Before you start a catering business it is wise to put together a comprehensive business plan. It is important to set out clearly what you hope to achieve in business and to set measurable goals. Having a business plan will give you direction and keep you on a course for success.
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