Hospitality Industry Business Plan

The food industry is a challenging combination of manufacturing and retail. It requires careful management, control of food and perishables,production, people, hygiene and customers. Very few businesses include all of these variables as significant elements of success or failure. You must understand that your restaurant or café is also a business and the skills needed to run a successful business are very different fromthose required to manage a successful restaurant. Your restaurant or café cannot hope to succeed without your developing business skills in these three key areas: operational; financial and marketing. From the very beginning it is important to remember that in business you always have two sets of customers. The first set is the customer that buysyour products on a daily basis, and the second set is the customer who will eventually buy your business. Everything you do in your business shouldultimately be geared to both sets of customers.

Your Business Plan

Your business plan is the future of your business. So many small business owners simply go to work each day with no real idea of where they want tobe or how they intend to get there. Little wonder that the failure rate of small business is so high.  Write down your business plan, then keep it open, so you can change it to reflect your ever-changing business environment. It is simply a writtenstatement of your business goals and how you expect to achieve them. Keeping it open will allow your plan to continue to reflect your current thinking.Your business plan should be written with a particular audience in mind. This is especially true if you plan to use your business plan to impressyour bank or finance company and get a loan or lease. To be effective in a financial, marketing and operational sense, your plan needs to addressall aspects of your business, now and in the future. You can download both a business plan guide and a worksheet from our website at /newsletter/businessplan.htm