Retail Business Planning

The writing of a great business plan begins with the realisation of your proposed target market. This one of the most crucial steps and can sometimes be misconstrued. Any commercial lender that might be looking at your business plan must be made aware of these elements:

How the market will be reached
What market will be reached
How much of the market (if in direct competition) can be penetrated

When doing research and finalising you plans, you must provide realistic sales figures, income with equal attention paid to you expenses. Ability to maintain cash flows is what any investor / lendor will be looking for.

There are many other aspects to consider during the business planning process. Below is a sample business plan outline to help you gather information for your business plan.

Introduction

- Business description - Business formation - Directors - Management team - Geographical markets - Vision of the future

Executive summary

- Main objectives - Business mission - Business philosophy - Location - Sales summary - Strategic positioning - Strategic alliances - Restaurant licenses - Key advantages - Key personnel - Funds required

Historic analysis

- General view - The market position - Income statement historic - Balance sheet historic

Marketing

- The product mix - Chart sales estimates - Competitive research - Market analysis - Marketing goals & strategies - Advertising & promotion - Restaurant pricing strategies - SWOT analysis

The organizational structure

- Management and personnel - Administrative organization - Contingency planning

Restaurant operations

- Restaurant identity - Restaurant location - Restaurant premises - Restaurant layout

Financial Plan

- The investment budget - Statistical data (ratios) - The return on investment

Risk management

- Risk management - Exit strategy

To get assistance with Hospitality / Retail business plans. HTS can help you ensure your complete sucess with your new venture or existing expanding venture. Contact one of our Consultants for advice.