A plan may be essential in order to prove that your concept is viable when it comes to talking to investors or seeking funding from other sources. However, even if you are independently funded and have nothing to prove to anyone a plan will still be useful. It will help you to confirm that your plans are indeed possible and it will give you a place to compile all the data that you collect from your research.
Background : Include some information on the catering industry at both the national and local levels. Take note of industry trends and try to forecast future developments.
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.
If your answer is no, you may have been able to easily accomplish this goal by planning for such expenses in advance through a business plan. Even if having cash at the ready is not a viable alternative for you, you may have planned to have a line of credit available for such opportunities, knowing that in your field these opportunities do arise from time to time.