The right thing to do is to write a proposal before having a business whether it a restaurant or catering business in order to know the pros and cons of your proposal. Nowadays, it is very important that you write a business proposal because of down economy, establishing a business is never easy.
The following elements are necessary to create a business proposal.
- Executive Summary. It is a brief description of the company. This will allow your reader what your business is all about.
- Business Objectives. It contains the goals of your business to be achieved for the next three to four years. It shows the details how to achieve your business objectives.
- Start up Capital. It provides the details of your capital including your cash as well as the equipment and furniture to be used in your business. All costs and expenses during the start up of your business are included.
- Market Analysis. One of the most important on business is to analyze the market. Specify the market details including competitors. This will determine how your business will be competitive.
- Marketing Strategy. If you know the market already, you should decide the market strategy to be used in order to have a successful business. Using such marketing strategy, you will now forecast the sales based on your strategy.
- Business Management. It outlines how you will manage the entire business.
- Organizational Structure. It shows the organization chart of employees including how they ranked as well as the number of employees and their responsibilities.
- Financial Plan. It details the revenue for the next three to four years. These estimates are just imaginary but it should be accurate as possible.
Some use a sample business proposal to be used as guidelines to their writings however it is necessary to take extra caution when using sample business proposal found in the net and other sources. Not all sample business proposal is right to copy, it is just used as your guidelines.