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.
Operations : This section is important for including details on how the business will operate on a daily basis. Information that should be mentioned here includes location, administration, employees and equipment. Set out a plan of attack for catering an event. Outline some of the problems that you will be facing and offer some solutions.
Although the term "business plan" conjures many negative images in the eyes of some business owners, taking a step-by-step approach will prove that creating a business plan is much less daunting than one might imagine. Although no two plans are exactly the same (the necessary details of the plan can vary between companies), the contents of a typical business plan include the following topics : Executive Summary - Sell your business to your reader!; Business Overview - Giving a general summary of the business; Market & Competitive Analysis - What environment are you competing in?; Marketing & Sales Strategy - How will you "win" in your market?; Organization Plan - How is your organization structured?; Financial Projections - Current status and future outlook; Funding Sought (if required); Key Milestones - What are your specific & achievable goals?; Critical Risks - What keeps you awake at night?; Appendix/Attachments.
Business plans are a must have for any new business. They are useful tools to help organise and predict future outcomes and results. They can also be used to pitch to potential investors. Knowing how useful business plans are; it is now time to start writing one up for your own business.