Financial Planning : Perhaps one of the most important parts of any business plan is the financial plan. You need to make some forecasts of revenue and expenditure over a period of several years. You can then estimate when you will reach a break even point and how much profit will be possible in the future. Set out anticipated monthly cash flows in a spreadsheet program on your computer. As businesses often don't grow as fast as their owners expect them to you should outline several scenarios. One scenario can show your expected outcome, one can show a more optimistic forecast and the third one can show a worst case scenario.
Once you start your catering business it is important to continue to refer to your business plan to make sure that you remain on track to meet your goals. You can also make changes to it if necessary as your business develops.
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.
Business PlanMaker: Business PlanMaker offers a step by step interview approach to helping you build your business plan. They have many samples to help guide you and if you are stuck and at a loss for what to say they have suggested phrases to use. When you are ready to publish your plan you can do so in your preferred format whether that may be e-mail, Microsoft Word, or the like.
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