Next Step: Components of the Business Plan

Let's get back on track here. Ultimately, this blog will feature my steps along the way of opening a restaurant. Will it be called 38 Miles from Manhattan? I'm not sure. I think that will have to come later. In the meantime, I've been researching and pulling together a business plan to entice some potential investors. I've looked at a few business start up books, and have been perusing the web for the massive amount of information it holds, and came to the conclusion that this document should consist of about 8 simple sections. Here is a good place to start:

1. Executive summary - In a nutshell: what's it all about, Austin? Just about every book and resource I have seen has suggested to do this at the end. I agree. How can you summarize something you haven't written yet?
2. Market analysis - Jargon for "what's going on in the area?" What kinds of people live in town; what is their income, marital status, etc? Drive or walk around town a bit. Who looks like they could be a possible competitor? 
3. Company description - Do I really need to explain this one? 
4. Organization & management - How on Earth will I run this restaurant? Are there managers? If so, how many do we hire and what will they be in charge of? If partners are involved in the company, who does what, when, etc? Take a hint from Apple and can the org. chart. 
5. Marketing Plan - How do we let people know about our amazing place? (and ways to measure how they found out about it.) This actually could include your options for menu design, building your website, social media, and other things, not just ads. 
6. Service/ Product line - The menu, catering options, and anything else we'll add that will be physically sold. We probably don't need to talk about how we will be serving the product; I think that is a given...
7. Funding request - The key and shining moment that your investor will likely skip all your hard work from the previous sections to jump to first. I think I'll soften the blow with some chocolate chip cookies...
8. Financials - The top three spreadsheets: Breakeven analysis, Income statement, and Cash Flow. Ok, I will likely be struggling with this one, but I think I've found a couple books that will help. And I do know a couple accountants that might be able to do a quick once over for me. Again, chocolate chip cookies will come in handy here.

I'll go through each one of these elements over the next couple of weeks, so if something didn't make sense, don't worry. I'll add some resources too. And comments, counterpoints, ideas, and suggestions are welcome. Thanks for joining me on this adventure!