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Cooking Business Plan – Developing Your Great IdeaWhy do you need a cooking business plan? You know that you love cooking and love food and want to go into some aspect of the cooking business, and to succeed in this highly competitive industry you need to plan how you will accomplish your entry into the industry and how you will become successful, so you do need a business plan. The successful business plan for a cooking business has some key information that need to be addressed step by step. The business plan includes the following researched information: definition of your target market, results of the market research that has been conducted, the business structure chosen, obtaining financing for the business, hiring employees, establishing an online presence and other marketing techniques, and bookkeeping.
Once you have determined the details of the cooking business plan especially when you will seek outside financing to get your business going it must be presented in a certain format, it has certain required sections, which includes: • Executive Summary – is two pages or less and presents your idea in order to sell your idea • Company Summary – the facts about the company that you are starting, its history and ownership • Products/Services – a description of how your service or product is different from anyone else’s and why, what makes it different • Market Analysis – who are your customers or who will they be, what is the competition like, what is the size of your market, and what growth of your market do you anticipate • Strategy and Implementation – how will you sell your services or products, how will you implement your plan and this portion of the plan should establish milestones • Management Summary – who is or who will be your management team, what are their experiences and key accomplishments • Financial Plan – what are your key financials, which includes sales, cash flow and profits
Next: Once these startup basics have been covered then you are ready to get the business going. For some great information on starting a cooking business a great reference is: • Restaurant and More by Entrepreneur Magazine
Cooking Business
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