If you're new to the world of entrepreneurship, the idea of creating a business plan can be daunting indeed. A single Internet search will yield countless how-to guides and manuals about how to create this essential document. What exactly is all the fuss about? And why is a business plan so important?
Think of a business plan as the map to your success. In this map, you'll have the framework for what your restaurant, bar, catering company, or bakery will become – from your mission statement and menu to your target market and projected profits and losses.
Your food services business plan is also the ticket to receiving your start-up capital. Small business lenders will always require you to submit your business proposal to assess whether you qualify for a loan. The more thorough the plan, the better your chances of turning your dream of owning a food services business into a reality.
Ready to get started? We're here to help. Though this isn't the final word on what your business plan should include, this guide should help you create the basic outline of your document and know what to include in each section. Let's dive in!