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**Make Your Boutique
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**Restaurant Management Toolkit
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Business Plan |
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What is
a business plan?
A business plan is a written statement of your
business; what you want to achieve with it and how you will do that.
It should outline the structure of your business, the product or service,
the customer, the growth potential and the financials.
But as well as giving information about your business it should also
inspire you for the future. “A business plan should give you an idea of
what you need to achieve,” says Nick Bos, a business adviser in East
London. Every business should have a plan whether it is to open a second
shop or float on the stock exchange. It is why you are in business. It
helps you to define strategy and, if properly used, will help you involve
and motivate key members of staff. It allows you to work out how to make
your business a success and can help you avoid failure by plotting the
pitfalls along the way. It should outline a realistic target for how that
can happen while remaining flexible enough to make changes along the way. By
setting out a plan and some targets, you can also monitor your progress
and get the business back on track fairly quickly if anything
goes wrong.
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