By Tjitte de Werd at April 17 2019 14:42:39
Make it enthusiastic, professional, complete, and concise. If you are applying for a loan, state clearly how much you need and be precise in how you are going to use it. Also include detail about how the money will make your business more profitable, thereby ensuring repayment of the loan.
Identify Weaknesses and Strengths _ It is important to assess your strengths and weaknesses and how they will affect you when it comes to competing with the established players in your local catering industry. You may bring competitive advantages to the business such as catering experience or local food and hospitality industry connections. You may also identify personal weaknesses that you can work on improving or weaknesses that your company will face when compared to your better established competitors.
With this information you can actually predict not only what your sales will be, but you can see how much your fixed and variable expenses will be, what your labor cost will be, your material cost, and your profit. 1. So let's first look at what exactly are fixed expenses? They are exactly what they say they are; they are fixed. This simply means these are expenses that are ongoing whether you have a lot of sales or Ŕ" sales. They are expenses like utilities, taxes, rent, salaries other than the wages used in the making of the actual product or doing a service, business fees, telephone, etc. See how these expenses would continue on even if you have 0 sales? Any expenses that fall into this category are fixed expenses. Far too many small business owners never divide their expenses into fixed and variable. As a matter of fact, if you could have a business that had Ŕ" fixed expenses; this would be the best of all worlds, why? If you had Ŕ" sales, you would have Ŕ" expenses. So the closer you could get to this the better you would be.
Where can you find samples of a business plan for a small business? If you go into any of the search engines such as Google or Bing and type in "samples of a business plans for a small business" you will find websites with this information. This is why it is important that a small business should have a business plan. If you look at those small businesses that are successful, you will find that most of them all started with and have a plan for their business.