A blueprint for your business
Writing a strong business plan is one of the best things you can do to get your business started.
The hospitality industry is booming, with new restaurants and cafes popping up every day. In this environment, you need to prepare well for your business to stand out and succeed.
Before you get busy with the never-ending daily operations, take some time out to craft your business plan, test your idea and dream the future.
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In this guide, we cover:
- Why does a business plan matter? Starting a new business is exciting and exhausting, and often it feels more productive to work on your logo than think about financial projections. But that's the beauty of a business plan: it forces you to stop and think deeply about your business.
- Getting started. If you've done any research into business plans, you may have discovered there's a lot of conflicting information out there. It's hard to know where to begin. The good news is that most plans start simple and evolve over time as you look into expanding or adding new team members.
- Tips to get started. Figure out how you'll use your plan, know what you really need to get started, test your big idea to see if it's viable and set goals for the business and yourself.
- The basics. After you've analysed your business and clarified your vision, you're ready to put pen to paper. We provide some of the key sections to include in a basic business plan.
- Things to remember. Writing out the first draft of your business plan is an exciting process, and no doubt you're going to discover many things about your budding business along the way. As you write, just keep a few final things in mind.