• April 7th, 2016

Restaurant business plan in the UK

Paper, Order, or Assignment Requirements

. You also need to clearly identify your target market, segment your market, and state how you intend to position your product/service; this is all part and parcel of an effective marketing strategy. You also need to include a realistic financial plan which includes start-up costs, break-even analysis and profit and loss accounts within it. The plan needs cover a period of 5 years.

Needless to say, but Ill say it anyway, your business plan should make it crystal clear what you are seeking from the reader: is it credit finance or is it investment finance? While 98% of your business plan will be identical in either case, that 2% makes a difference in terms of the timeframe emphasis, short (or medium) term versus long term. How much should your business seek to raise? There is no right or wrong answer, only credible and incredible. The more credibility you bring to the table, in terms of experience and cash, the more funding you will be able to attract. You may consider crowdfunding (please see what the average acceptance rate and average amount raised are for your preferred platform), but only for part of your funding requirements, say 25%.

NB. Your plan should be for a new business, not for the revamp or purchase of an existing one. It should also not be for acquiring a franchise business (even a new one), or for setting up a social enterprise. Also, keep in mind the difference between an entrepreneurial business and self-employment; the government doesnt see the difference, but you should know better. If your business (once established) cant survive your absence, then you dont have a business you have a job, and that is a different matter altogether. So, personal trainers, bookkeepers, bee keepers, gardeners, etc. are apt to fall under the self-employment category; if youre business cant be scaled, if its not designed to take on more people and grow, then its merely self-employment.

Finally, the legal structure (e.g. sole proprietorship, partnership, limited company, etc.) is up to you; however, it should be appropriate to the business proposed.

Hand-in date: 18 April 2016

Here is a suggested layout for your business plan (exactly how you approach it should be governed by the product or service youre contemplating):

1) Executive summary
This is usually the first section of any business plan (although you should write it last). It gives the reader an overview of what your business is all about and how you intend to accomplish your goals.

2) Business idea
Think of it as an extended elevator pitch. You want to thoroughly explain your business idea, your goals and how you will satisfy the needs of your market. You should also describe your competitive advantages and how they will help make your business a success. Think about:
what your business is and why we should care
broad justification for it (e.g., based on trends, demographics)

Latest completed orders:

Completed Orders
# Title Academic Level Subject Area # of Pages Paper Urgency