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.
The trouble with sample café business plans is exactly as the name proposes. It is a sample plan. The information is based on a generic café, and therefore it neglects the fact that every cafes situation is different. Therefore, for the plan to become effective it must be tailored to the restaurant or cafes current situation. The fact is that a lot of the information contained in these plans is useless for everyday operation and growth of the restaurant.
Competitive Analysis : The competitive analysis is a great way to determine the strengths and weaknesses of the competitors in the same market. This will allow you to create strategies to give you an advantage. Any potential threats can be recorded which will help to create early strategies to prevent any weaknesses that can be exploited.
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.