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Intro 6 Your Elevator Speech 6 Chapter 1 - What is a Business Plan? 7 Why Do I Need A Plan? 7 How You Can Benefit 7 Great Risks, Great Rewards 8 No Profits - No Reason 8 Who Should Review Your Business Plan? 8 Other Outside Advisors and Consultants 9 Who Will Use Your Business Plan? 9 Confidentiality/Non-disclosure Agreements 9 What Interested Parties Should Find In Your Plan 9 Your Family 9 Your Partners 10 Your Lender 10 Your Investors 11 Your Partners 11 Your Employees 12 Your Suppliers 12 Chapter 2 - Who Should Write Your Business Plan? 13 But I Only Want to be a Restaurateur 13 Web-based Advice 13 Business Plan Classes 13 Local Classes 13 Online Classes 14 Teleclasses 14 Seminar Workshops 14 Software-Specific Classes 14 Books 14 Software Programs 14 Chapter 3 - Hiring a Business Plan Writer 15 What It Will Cost You 15 Searching for a Business Plan Writer 16 Tell Them What You Need 16 Tell Them What You Want 16 Tell Them When You Need It 16 Tell Them What Resources You Have 16 Write An RFP 16 If I Could Only Write an RFP 16 Contracts & Agreements 17 Confidentiality/Non-Disclosure Clauses 17 Chapter 4 - Business Plan Software 18 Too Good to Be True 18 Try Before You Buy 18 Your Software Choices 18 Accounting Software 18 Word Processing Software 19 Spreadsheet Software 19 Presentation Software 19 More Free Templates 19 Business Plan Specific Software 19 Popular Business Plan Packages 20 Stand-alone Products 20 Template Products 21 For Mac Users 21 Online Planning 21 Check with Your Restaurant Association 22 Still Don't Know What to Buy? 22 Chapter 5 - What Does a Good Business Plan Contain? 23 Standard Business Plan Format 23 Cover Page 24 Executive Summary 24 Background Information 25 Financial Resources 25 Business Concept 25 Business Goals and Objectives 26 General Description of Business 27 Description of Products/Services 27 From Your Lists to Your Plan 28 Management Structure and Organization 29 Your Management Team 29 Your Key Personnel 30 Outside Support 31 Organizational Chart 31 The Next Three Big Sections 31 Coming to a Conclusion 31 Support Documents 32 Let's Jump Back 32 Chapter 6 - Writing a Feasibility Analysis 33 Hiring a Study Consultant 33 Preparing Your Analysis 33 Concept Analysis 34 Location Analysis 34 Have Concept, Need Location 35 Have Location, Need Concept 35 Should I Buy Someone Else's Restaurant 35 Execution Analysis 38 Fine-Tuning Your Idea 38 Financing Needs 39 Does It Make Good Fiscal Sense? 39 Capturing Your Fair Share 39 Problems and Solutions 40 Entrepreneurs Aren't Super Heroes 40 Not Enough Strength 42 Do I Need It and Can I Afford it? 42 Do-It-Yourself Feasibility Studies 43 Writing Your Feasibility Analysis 43 What To Do If The Answers Are Negative. 44 Chapter 7 - Your Marketing Plan 46 Market Analysis 46 The Food Service Industry 46 Your Territory 46 Your Location 47 Your Competition 47 Your Customers 48 Your Ideal Customer 48 Your Customer's Needs 48 Establishing the Need 48 Your Solutions 49 Your Niche 50 Your Brand 50 Your Outreach 50 Developing Your Advertising 51 Advertising Budgets 52 Chapter 8 - Financial Data 53 Your Financial Management Plan 53 Starting Out Needs 53 Operating Budget 54 Loan Application 54 Capital Equipment and Supply List 55 Crunching More Numbers 55 Balance Sheet 55 Breakeven Analysis 56 Income Projections 56 Pro-forma Cash Flow 57 Chapter 9 - Researching Your Business Concept 58 Researching Your Market and Competition 58 Location...Location...Location 58 Location = Customers 58 Building Your Own 58 Buying an Existing Business 59 Buying Costs 59 Leasing Space 60 Geographically-based Research 61 Observation Techniques 61 Ask Questions 61 Getting Organized 62 Create a Research List 63 Assumptions Are Not Conclusions 63 Types of Research 64 Secondary Research 65 Ask for Help 65 The Art of Asking For Research Help 66 Hiring Research Help 66 Hire a Financial Expert 67 Chapter 10 - Writing Your Plan 68 Gather Your Data 68 "Blank Screen Go Away" 68 Coping With Writer Anxiety 68 Writing Formally 68 Using an Outline Format 69 The Most Important Advice I Can Give You 69 Chapter 11 - Getting Your Plan "Published" 70 Making a Great Presentation 71 Ready to Print 71 Paper Please 71 Holding It All Together 72 While You Are At the Office Supply Store... 72 Assembling Your Plan 72 Chapter 12 - Mini Strategic Plans 73 Internal Business Plans 73 Chapter 13 - Revising and Updating Your Business Plan 74 Plan B 74 Keeping Your Plan Fresh and Viable 74 Should You Rewrite Your Plan? 75 Chapter 14 - Business Plan Writing Resources 76 Accounting 76 Advertising 76 Books, Magazines and Software 76 Business Structure 76 Feasibility Study Resources 76 Financial Planning for Restaurants 76 Food Service Industry Publications 76 Government Resources 77 Industry Demographics and Research 77 Research Methods 77 Restaurant Owner Support 77 Small Business Development & Support 77 Training Classes, Seminars, Workshops and Web-based Education 77 Trade Associations 77 Start Up Expense Worksheet 79 Chapter 15 - sample business plan Intro Starting your own restaurant is an exciting adventure. Close your eyes and visualize how the dining room looks, lust for the latest cooking equipment, smell your signature dish and see the faces of happy customers. Now think about writing a business plan for your new restaurant. Jars your eyes open and makes you sweat, doesn't it! Take a deep breath, help is on the way. [Book title] was written to give first-time entrepreneurs and seasoned restaurateurs the support and guidance they need to make their daydreams a reality. You've taken a big first step by purchasing this book. Perhaps your banker or lender has told you that he MUST have a copy of your business plan or a friend suggested that you write a business plan. At this point, you may not actually know why you should bother. Just like writing a school paper, you probably are approaching this reluctantly. There are businesses that become successful without a business plan - but significantly more fail to plan and then fail to succeed. There is no magic wand you can wave to speed you through the tough aspects of launching and operating a food service establishment - but with good planning, you can minimize the pain and maximize the benefits. The goal of this book is to help you - P.L.A.N. Prepare For Success Learn How To Be Profitable Act, Not React Navigate Pitfalls Your Elevator Speech Your elevator speech, which should take about the length of an elevator ride to deliver, is a brief description that neatly sums up your business concept. It isn't just a lifeless declaration - "I want to start a Chinese restaurant." It is a statement that captures the excitement and potential of your idea - "I'm starting a trendy restaurant featuring exquisite dinners from every region of China. I've hired a chef from a trendy New York establishment and renowned restaurant designer Barbara Lazaroff is working with us." Imagine you were alone in an elevator with billionaire Donald Trump. Here is your chance to pitch your idea to him. Can you capture his attention, sell him on your idea and intrigue his entrepreneurial spirit before you reach the 22nd floor? Your elevator speech is also a useful tool that helps you focus on your goals. You'll find several ways to build upon your elevator speech throughout the book. Now set aside some quiet time with a pad and paper (or make your notes right on these pages) and start the process of creating your own plan for success.
Library of Congress Subject Headings for this publication:
New business enterprises -- Management.
Small business -- Management.