Are you planning to start your own business this year? One of the initial steps to begin the process of starting your own business is developing an efficient business plan.
If you are a restaurateur, this post is for you. If you are a restaurateur who hates writing a business plan, then this post is DEFINITELY for you. You are spectacular at what you do and passionate about food. I know this is a lot of work for you to read this blog, but you will be glad you did. Whether you’ve graduated from a culinary school or just developed a secret recipe in your kitchen, you will need to create a business plan to ensure you have covered all the bases.
Running a successful restaurant can be challenging, but the results will fulfill your dreams if you are committed to conceptualizing your business plan. A business plan for opening your own restaurant must include your vision, market and competitive analysis, and how you plan to position yourself in your target market. Opening a restaurant is a dream for many people. At the end of the day, it’s all about turning their passion into a business venture. Unfortunately, for many restaurateurs, the reality of running a restaurant is not what they expect. Long hours, cash flow issues, finding the right staff, financing the equipment, and a lot of stress cause many restaurants to shut down just after a few years.
One reason for the high failure rate in the restaurant industry is that the owners often fail to treat their restaurant as a business from the beginning. They have no plan to deal with unexpected expenses, and they don’t understand the true hidden costs associated with opening a restaurant.
By writing a Restaurant Business Plan, you show investors or lenders that you have a clear contingency plan for handling any problems that may arise. Besides, it also serves as a road map for the owners to track their success. A few key points to consider when drafting a restaurant business plan determine whether the plan is a success. So, let’s look at some top things to include to ensure you set yourself up for success.
In any successful restaurant business plan, you must lay out a clear concept for the business with potential investors, partners, and your team. The business plan should clearly outline the type of service and whether this is a casual or fine dining restaurant, for example. The restaurant service choice will then have a massive impact on the overall concept of the business. It’s worth mentioning ideas for the restaurant design in the business plan, with clear visuals to capture the reader’s attention. This is your chance to shine in front of your readers, potential investors, landlords, or future staff about your restaurant.
When writing a business plan for a new restaurant business, it’s important to include a breakdown of the sample menu. This is where you will highlight the food and drink options that will be available, which are key to driving the business’s success. Restaurants are only as good as their menu; they are the core element of the business and its brand. This is an opportunity to highlight your restaurant’s brand through its menu, so it’s worth including enticing menu descriptions and images. The goal is to get your sample menu for the business plan as close to the finalized menu as possible.
Defining your target market will help prospective investors understand how lucrative their investment could be. Your chosen location could be a good indication of your target market. Next, you can add the specifics of the consumers – in your case, diners – whom you wish to attract to your restaurant. How your business will capitalize on existing trends, how your pricing structure compares to that of the other restaurants in the area, and how your restaurant will fulfill an untapped “dining niche” in the market. Your target market also depends on demographics, psychographics, and the behaviour of potential customers. Once you have a clear idea of your target market and the customers you aim to attract, you can start working on bringing your idea to life.
A successful restaurant business plan should provide a clear breakdown of the restaurant team members, from the servers to restaurant management. It’s worth mentioning how many employees there are and how many will be needed for day-to-day operations. Any potential investor will be looking to see who will run the business and how they will implement the business plan.
The readers would also want to see how your restaurant is expected to perform financially. For the financial projections, you will need the anticipated start-up cost of the restaurant – this list is often long. If you’re looking for investors, they would want to see the breakdown of where the money will be spent. This section includes projected income statements, balance sheets, cash flows, and break-even analysis.
“If you want to be an entrepreneur, it’s not a job; it’s a lifestyle. It defines you. Forget about vacations, about going home at 6 pm – last thing at night, you’ll send emails first thing in the morning, read emails, and you’’ wake up in the middle of the night. But it’s hugely rewarding as you’re fulfilling something for yourself.” -Niklas Zennstrom, founder of Skype and Kazaa.
Business Plan Writers are experienced in writing business plans for many entrepreneurs, including restaurateurs. They can write the plan to ensure you cover all the important points about your business to entice investors and lenders. The chances of a successful restaurant business and business plan are dramatically improved by hiring a business plan writer to help with proper business planning.
These tips are a great starter guide to help you with your business plan. Looking for business plan writer cost? For more information about my business plan writing service, don’t hesitate to contact me here, and I’ll be happy to answer any questions you may have.
Many entrepreneurs believe business plans can be or are tough to write and finalize. Yes, it might take a bit to create a professional business plan, but it’s not nearly as difficult as you might imagine. It all comes down to knowing what to do, what steps to focus on, and what you want to achieve. There are many types of business plans depending on the end result; such as immigration business plans, bank loan business plans, investor funding business plans, and so on. Regardless of the purpose of your business plan, here are some tips to help you get started.
The most efficient business plan always focuses on who will buy your products or services. The most crucial aspect here is understanding what people want and what solutions you can offer to them. Doing that will make a huge difference, and makes things easier with other sections of the business plan.
You must also figure out the right vision for your business. This is the future image of your business, where you want it to be in a few years and so on. Having a good understanding of what you want to do and what you need to achieve in the long run can make a difference and set you in front of competitors.
This will help you identify any factors that might bring your business down. The PEST and SWOT analysis can be great if you want to figure out any market gaps, identify threats, and leverage the strength and opportunities that your business presents.
It would help if you were always focused on establishing the right business goals. Maintain realistic goals and don’t go overboard. With SMART goals, you will achieve and grow more, not to mention you will have better control of the strategies to achieve those goals.
What this means is that you should set your business plan over a certain amount of time. With that being said, you should consider different timeframes, not just a single year. That will help you bring more insight to investors and others as well. Do this especially for your industry market research, financial projections, so that readers can have a better understanding of the business potential.
The best business plan you can focus on should support assumptions and claims; it should flesh out the right methods you can use to achieve goals. It also needs to showcase any bad scenarios and how you can prepare for those. As always, every business plan needs to be free of any fluff, yet conservative and to the point.
Got the business plan ready? Great! Now, it’s time to improve it. The business plan, just like your business, should always improve and adapt according to the industry and customer base. Maybe you come across new opportunities, or maybe you must focus on some business changes based on the current external and internal business environment. You should consider all these factors as you try to adapt your business plan to the existing market conditions.
As you can see, creating a business plan is not that difficult if you know what you are getting into. Constantly take your time, understand the market, and don’t hesitate to make any business plan changes if needed, as they can help quite a bit! The main focus should always be on thinking ahead, planning, and constantly adapting your business plan to be the best it can be. If this is too overwhelming, there is help available! Consider hiring a business plan writer or business plan consultant. Adept Business Plans Inc. is a Vancouver-based business plan writing service that has been helping startups, small businesses, and immigration consultants with professional business plans. For a professional business plan writer cost, let’s connect.
If you are an entrepreneur looking to immigrate to Canada, a direct avenue that the Canadian government offers is to apply as a business immigrant through its Provincial Nominee Program (PNP). Canada is dependent on its immigration policy and allows people to immigrate as business immigrants provided, they meet specific program requirements. International entrepreneurs immigrating to Canada boost the economy while creating new employment opportunities for Canadian citizens and permanent residents. As a part of the PNP application, a professional business plan is required. In this blog post, I will write about the PNP Business Plan and how it can increase your chances of success as a Provincial Nominee Program applicant.
The PNP Business Plan must meet the Entrepreneur Immigration Application Guidelines. The government of Canada asks that the following essentials are addressed in your PNP Business Plan:
There are two parts of the PNP Business Plan that must be fulfilled to gain approval from the Canadian government.
For the online application, a business concept is necessary to introduce and clarify the business idea. It must be a 1,000 to 1,500 well-written document and must cover all the questions laid out in the PNP guide. The following are some primary areas to be addressed in the business concept:
Through an online application, the PNP business concept must prove that the business has a great potential for sustained commercial success in Canada. Some additional requirements have been set out if an applicant is purchasing an existing business or setting up a franchise in Canada.
Once the online application/ business concept is approved, the business owner/ potential immigrant needs to submit a detailed business plan with their application. A professionally written PNP business plan must address all the detailed application needs. Some of the key areas to include are:
At this stage, it is a comprehensive yet concise PNP business plan and should involve all crucial details of your proposed business. To avoid any confusion, the business plan should synchronize with your business concept submitted in part 1 of your application. You need an effective PNP business concept to pass the first step and then a solid PNP business plan for the second step of your application.
To help ensure your business concept and business plan are written in a way that meets and exceeds PNP business plan requirements, it is highly recommended to hire a professional immigration business plan writer to prepare these documents for you. The provincial standards are strict, so you will need to ensure these documents are written with the PNP guidelines in mind.
Are you looking for a Vancouver-based immigration business plan writer? Contact me here, and I’ll be happy to answer any questions you may have about your PNP Business Plan requirements. Please note that the above information is based on my experience as a business plan writer for PNP business plans. I am NOT an immigration consultant. Any questions regarding your eligibility or PNP immigration requirements MUST be directed to a licensed Canadian immigration consultant.
anywhere between one and two weeks after receiving the business plan questionnaire and the first deposit.
As I have signed NDAs with my clients, I can’t send over the business plan samples. However, I will be happy to meet in person or jump on a Zoom call to show you some PNP business plan/PNP business plan concept samples.
Absolutely, I am just a phone call away to answer any questions regarding the PNP business plan and the PNP business plan concept that we have worked on. Got more questions? Please read more on immigration business plans here, or feel free to contact me.
Further helpful reading:
If there’s one global industry that continues to thrive worldwide, it’s the beverage industry. Despite increasing competition, people continue to develop innovative drinks to meet consumer demands.
A business consists of a wide range of processes. One of the most significant processes is a company’s marketing strategy. Today, most businesses rely on digital marketing methods to meet their marketing objectives. Read on to learn how a solid digital marketing plan can help your business.
Small businesses rely on a wide range of factors, including the measures they take to understand their customers and meet their demands. Market research is an essential part of most business processes. Read on to learn how it benefits small businesses.
While most business owners make and use business plans to seek funding and attract investors, these plans play a significant role in helping new business owners and entrepreneurs. In fact, these are some of the most valuable resources to use when you want to track your entrepreneurial progress.
To step into the business world as a car dealership is a dream come true for many. Car dealerships are one of the most dynamic and competitive business ventures with large profit margins. It is crucial to stand firm in this race uphill and much more to begin with strong business planning. A professional business plan can help ensure this. A good business plan is like the script of a movie, the blueprint of a building, and the recipe of a dish – whatever you want to call it. It should be clear, concise, and welcoming, drawing investors like a charming fragrance. Here are some tips for writing a professional business plan for a car dealership:
A car dealership business is highly competitive. There are buyers with varied and scattered choices. Bringing viable options and gaining a place in the market is not easy. A business plan can help with planning entry into the market and securing external investment. I hope you use these tips for your car dealership business plan. Some of the common questions that entrepreneurs often ask themselves are: How much does it cost to hire someone to write a business plan? or Can you pay someone to write a business plan? or How do I find a business plan writer? or How much does a small business plan cost? If you are looking for business plan writing help, please get in touch; I will be happy to help you with your business plan needs.
Like it would help if you had a map to reach your destination; for your business to grow and expand, it needs the right business plan, aka a road map and adequate attention to detail. If you are reading this, you probably have a business plan that you would like to revamp. If you don’t have a business plan yet, don’t worry; consider reading my blog post on Five Embarrassing Business Plan Faux Pas! First of all, revisiting your industry and audience in your current business plan is pivotal if you want to reach success! Which does bring the question, what are some other things that can help you reinvent your business plan? Here is a list of some simple hacks that will help you:
Most of the time, your audience will have various ideas and feedback for you to check out. It’s more important than ever to listen to your customers and provide them with the best results and experience. I recommend you listen to your audience because they can give you amazing ideas and a new way to improve your existing business plan.
This is a good option, especially if you believe that your business is not doing that great anyway. Adapting to market trends can actually save you, and it can bring tremendous potential. Use that to your advantage; the payoff alone can be second to none.
Studying the competition and seeing what they are up to is a great idea. More often than not, this will give you lots of ideas and help you reinvent your business plan. That minor adjustment can indeed make a difference, so use that as an advantage.
If you believe that you’re not standing out too much, then it’s a good idea to find ways to do so. Change your business plan by delivering more efficient customer service, a higher level of buying experience, a vast range of products or services, and a higher sales volume. Changes like this can make a difference.
Automation, machine learning, AI, the Internet of Things, or various other technologies can help your business. Becoming a more tech-focused company can help a lot, and it will give you some fantastic benefits while focusing on value and growth. All you need is to identify what technologies would work for your business and adapt accordingly.
A mentor can help a lot because he can see things from afar since they are not close to the action. You can’t think objectively, but they do, and that’s what makes them the best possible option that you can access at this time. Listen to your mentor, as he can help you revamp your business plan based on their insights. Furthermore, you could take advantage of many business planning services, business plan software, and business plan templates. Business plan writer cost depends on many factors, such as the scope of work, timeline, and end goals. How to choose the right option? Consider reading my post on business plan writers v/s business plan software.
Switching to a marketing channel that gives you more exposure can bring growth opportunities, not to mention you can get more sales. It helps a lot, and the potential is second to none. You have to make the most out of this opportunity, as it will be worth the effort.
There’s no denying that reinventing your business plan can take quite a bit of time. However, with the right ideas and solutions, you will be able to make it work. I recommend using these tips for your business plan; the results can be excellent in the long run! This will not always be a walk in the park, but if you manage everything appropriately and know what you are getting into, it will be worth it. Hiring one of the small business plan writers could be a great investment for your new or existing venture. Tired of searching for business plan writers near you? Let’s talk about affordable business plan writing services.
Opening a grocery store can be challenging because the big box stores and supermarket chains can offer a wide variety of products at low prices that small stores can’t. However, neighbourhood shops that stock local and sustainable foods find their footholds as people seek out healthy, chemical-free, locally sourced, fair-trade options. Like most of the rest of the world, Canadian shoppers have also discovered that a global crisis like COVID-19 can interrupt food supply chains, so they have turned their eyes and habits towards home.
If you are considering opening a grocery store or neighbourhood supermarket, it’s almost certain that you will require funding, either from private investors or commercial lenders. You will need to convince them that your idea is sound and that your store will turn a profit. The business plan is the tool that does that.
A business plan consultant can prove to be the most valuable resource you utilize on your entrepreneurial journey. As professional business plan writers, they work with you to craft your professional business plan, aid you in developing a successful marketing strategy, and help you to avoid some of the more common startup pitfalls. Considering these points, business plan writing help is worth exploring during your initial days of conceptualizing a grocery store business plan.
Your professional business plan writer will make sure that your plan is detailed, thorough, and contains the information that lenders or investors are looking for. If you decide to do this on your own, make sure to do your homework, so you are prepared to provide the critical information your business plan will need.
Once you obtain the funding, it isn’t time to toss your business plan into your computer’s documents folder. Securing financing is just part of it. Your business plan functions to help you define your objectives and describe how to meet them. Mark, your calendar to review your business plan annually to ensure you are meeting the goals. As your business grows, you’ll want to edit your plan to reflect that growth. If you need a business plan writer, have questions about business plan cost or business plan writing help, contact Adept Business Plans Inc., for a quick discovery call.
Some more helpful resources:
The real estate market is hot right now and has been for some time. According to the Canadian Real Estate Association, home prices were 23% higher in April 2021 than at the same time last year. Increased immigration targets, the yearning for more space after being cooped up through the pandemic, and lower borrowing costs have all created a high demand for housing. While the market is predicted to cyool off and become more typical in 2022, it will remain strong. Despite where the market goes, being a real estate agent always remains an excellent career option.
Although becoming a realtor usually doesn’t require as much funding as beginning other businesses, a business plan remains essential. Professional business plan writers can help to craft a document that will define where you are today, where you want to be at a specific point in time, ways in which you’ll measure your performance, and when you should make a course correction. If you’re unsure where to begin or how to find professional business plan writers, there are many valuable internet resources to help you online.
Essential Points to Include in Your Plan
There is specific information that needs to be included and organized in your business plan, but here are a few key sections.
Mission Statement – This is the foundation. Your mission statement is what the rest of your business plan is built on, and it clearly and succinctly outlines your goals and guiding principles.
About Yourself – here you can highlight your skills and experience and you will contribute to the company’s success. A more comprehensive resume can be attached in the Appendix of the business plan.
Target Market – This is a particularly important section and, if professionally written, will reflect all the research that you’ve undertaken. Saying that real estate agents help buy and sell homes is true enough, but it’s too broad. Who, specifically, are your clients? Are they first-time home buyers or sellers? Will you be dealing with luxury homes or more modest, middle-class structures? Are your clients first time home buyers, or are interested in investment or commercial properties? Identifying your demographic provides the needed focus for your business.
Marketing – Much of the business of buying and selling homes comes from the work of generating leads. In this section, you’ll describe strategies like using social media, print or radio ads, brochures, and bench advertising. You will also want to identify how many leads (anticipated or confirmed) that these strategies have produced. Show the effectiveness of the marketing. Hiring a professional marketing strategist is a sound decision and a legitimate business expense.
SWOT (Strengths, Weakness, Opportunities, Threats) Analysis – This is a beneficial exercise as you write your plan, compare your services and business against each of these terms. For example, your strength might be cold calling, but your weakness is business analysis. An opportunity may be a niche real estate market like working with new immigrants who want to purchase a home but are unsure how to navigate the Canadian market. And finally, an example of a threat could be lumber or construction prices. The SWOT analysis is the most fluid part of your business plan and will likely be a tool you’ll use and tweak often.
Numbers, numbers, numbers – Determine the average commission per sale that you want to make, and then figure out how many homes you will need to sell each month, quarter, year to reach your target financial goal. Remember to be conservative.
Lastly, reviewing your business plan annually lets you see where you are at on your business journey, and it ensures that you’re keeping your eyes fixed on the goals! Looking for professional business plan writers for your business plan? Get in touch with Adept Business Plans (a Canadian business plan company) for a customized quote for your business plan.
“People do not buy goods and services. They buy relations, stories and magic.” – Seth Godin.
Social media influencing has become a recognized and popular form of online marketing. Likewise, referring to someone as an ‘influencer’ is now a commonplace label. The mainstream media regularly refers to people as such, but what exactly does it entail? What is influencer marketing, and how does it work? Influencer marketing relies on Instagram as a central platform. Now nearly a 2-billion-dollar industry, Instagram influencer marketing is all the rage. Some influencers are able to make a living from paid posts and collaborative marketing campaigns.
The marketing strategy relies on a slow-and-steady approach to advertising. Like social media in general, efforts are not aimed at selling products directly. The strategy is built on demonstrating authority, credibility, and ethos within a given industry. Specific social media campaigns allow individuals to build a reputation in their field and become strongly associated with whatever they are offering.
2021 brought global uncertainty and many political, environmental, and economic unknowns. This uncertainty raised questions about the social media climate for brands and influencers. Keeping audiences engaged and maintaining a sense of integrity throughout has become pivotal in today’s environment. It is more important than ever for social media influencers to get these strategies right.
We are seeing more engagement now than ever before on social media platforms, likely due to a pandemic-induced reliance on digital communication. As a result, influencers are constantly creating new engagement methods to keep followers during these unfamiliar times. Brands are realizing that marketing through social media influencers could be a wildly effective business model when commercial advertisement shoots are inaccessible and DIY content (filmed at home) is still within reach. Influencer marketing strategies combine old and innovative marketing tools, using the power of celebrity endorsement but putting it into the hands of modern-day content-driven marketing campaigns. An influencer has the power to affect the purchasing decisions of others because of their authority, knowledge, position, or relationship with their audience. These individuals are rooted within a distinct niche with whom they actively engage. The size of the following depends on the size and reach of their niche.
The power of influencing is only gaining traction. Instagram influencers are key opinion leaders, and advertisers are leveraging their reach to create a positive impact. The focus is shifting toward creating content that is informative and impactful. The name of the game is to build dialogue, generate and share ideas, and drive actual change in social, ecological, or political spheres.
The COVID-19 pandemic led us down an unprecedented path, and many influencers have stopped taking regular branded content to promote social initiatives. The aim is to produce an original piece of content that will, in some way, contribute to and benefit a social cause or climate. Of course, not all influencers are working with an ethical agenda. Many influencers still use their online following for advertising for brands and companies to capitalize on capitalism simply. And it’s pretty darn effective.
Hope you found this blog post helpful! If you are looking for a social media marketing plan or just want to bounce ideas, get in touch with Adept Business Plans’ business plan writer for your custom marketing plan!
If there’s one big factor in a startup’s demise, it’s cash flow problems.
With plenty of small businesses failing, you’ll be thinking how a cash flow forecast can be useful for small businesses, right? Well, it’s pretty useful.
There are two major components of risks: the likelihood of something going wrong and the repercussions if it does.
Similar to starting any business, learning how to kick-start an e-commerce venture is a little challenging. However, launching, setting up, and maintaining websites where creators, designers, and entrepreneurs can sell their wares is a lot more attainable now than ever.
Here’s a basic guide to creating a financial model. I will cut through the jargon to help you understand how to prepare a financial model for your business.
Having a strategic business plan is encouraged for a multitude of reasons. A robust and well-thought-out business plan can convince investors that you’re serious, understand the market, and have a vision for how your product or service will succeed. It demonstrates that you mean, well, business.
Financial planning and analysis involve budgeting, analysis, and forecasting of the financial data. This can help companies support their strategic business decisions and align to their financial goals. It also helps an investor determine whether a company is profitable and stable enough for investment.
You’ve probably already read my post on the top five reasons to hire a business plan writer. Well, read on for a logistical rundown of what to expect when the chosen business plan writer is me.
Initial discussion on price, deliverables, and scope of work. Whether it is in person or virtually, our first meeting will help us flush out these details. Nothing shortens the road to an excellent business plan, like a mutual understanding of what is expected and what can realistically be delivered.
Non-Disclosure Agreement (NDA). You and your team can choose to sign before the questionnaire if you prefer. Otherwise, it can be completed alongside the Business Plan Service Contract. The NDA is a great way for everyone to feel protected when discussing ideas and plans. You’ve finally got your entrepreneurial wheels in motion, and nothing is worse than feeling as though your creativity or personal information is at risk. Signing the NDA ensures all information shared or discussed remains confidential.
Business Plan Questionnaire: This will help me deliver a great business planning service. The questionnaire has twenty quick questions. You do not have to answer every question. Just answer the ones that are relevant to your business.
Business Plan Service Contract (if NDA is already signed). Our Service Agreement will set out the relationship between you, the business receiving the services, and me, the business plan service provider. This contract will clarify, in writing, the terms of our agreement, including the services to be provided, how and when the services will be provided, and payment details regarding the services. It is a way to prevent potential misunderstandings or disputes arising throughout the term of the entire agreement.
First deposit to start the first phase of the business plan. This includes everything except financial projections.
Second deposit to start the second phase of the business plan. This includes the financial projection, one of the most specific and essential components of the business plan and one that requires particular insight and transparency into your company. This is another reason the peace of mind NDA is in place.
Update and midpoint check-in. I will update you with the progress mid-way during both phases of the business plan writing project.
Follow-up call after receiving the business plan questionnaire. This is a call to see how things are progressing regarding the questionnaire. I’m here to craft your most effective business plan and offer as much support as possible.
Note: For PNP Immigration Business Plans, the first phase is the business concept, and the second phase is the final business plan after ITA is received.
Payment and finalization. In terms of payments, I accept both interac (e-transfer) and cheques. (No credit card payment at this time).
As a business plan expert, I am always more than happy to offer two revisions included in the price, as long as we stick with the agreed business idea and the vision has not morphed too substantially. If the business idea does change, a new quote will be provided. I will deliver a final copy of the Business Plan in Microsoft Word and Excel format, easy to show and discuss with the team and user-friendly for presentations to potential investors. If you need any complex design files, I will be happy to chat and involve one of my graphic designer friends to help us with converting the business plan documents into design files. If you have any questions about my affordable business plan writing services, please don’t hesitate to reach out to me.
Most people who complete the vocational schooling and apprenticeship hours required to become auto mechanics will continue to work for employers. However, some will channel their entrepreneurial spirit and open up their own auto repair business. According to UBC’s Small Business Accelerator Program, the auto mechanics industry in Canada will continue to experience steady growth, generating close to $12 billion annually. While new auto repair enterprises tend to be the regular brick-and-mortar shops, some entrepreneurs think outside the box and open mobile businesses that bring diagnostic, maintenance, and repair services right to a customer’s home. These startups are an expensive undertaking whether you intend to open a repair shop or plan on going mobile. Lenders or investors will want to see a professional business plan that doesn’t just outline revenue and expenses but one that is clear about your vision, objectives, marketing plan, strategies, industry experience, and the experience of those who will be working with or for you. A business plan is the most crucial document you’ll ever write. Having a professional business plan writer work with you to craft it will be money well spent (and it’s a legitimate business expense too!). If this is something you want to take on yourself, keep reading. If you are looking for a Business Plan Writer & Consultant for hire, there are many options in the marketplace.
Tips for Writing the Plan
Several sections make up a business plan, but let’s touch on a few essential points that should be included in yours:
Talk to a professional business plan consultant. These people are specialists who know how to write a business plan, develop a marketing strategy, find pertinent information about licensing requirements, and effectively point you in the right direction to help build your business.
Understand the value of a business plan. Many entrepreneurs tend to think its sole purpose is to secure funding. While that’s undoubtedly one of its functions, your business plan is also the roadmap that helps to get you to the destination of breaking even and turning a profit. Your business plan will outline your goals and how you’ll reach them and clearly define and explain the business. Some of the reasons businesses fail include not starting with enough money, planning, and overestimating revenue. The process of writing the business plan helps to identify potential problems and reduce the risk.
Starting a business is exciting and sometimes overwhelming. Use the process of writing the Objectives section to bring order to the chaos you might be experiencing as you prepare to open your auto repair shop. You may envision beginning a one or two-bay garage with yourself and one employee doing the work, and once the business has its footing, your goal is to expand to several shops or even franchising. The Objectives section will help you to identify the steps you’ll need to take to realize your dream.
Starting up an auto repair shop or a mobile auto repair business is an expensive undertaking. However, committing yourself to carefully crafting the Financials section of your plan will give you and your lender a clear picture of the amount of money you’ll need. This section requires you to be specific and to itemize revenues and expenses carefully. Always be conservative with your numbers and make sure you show the business breaking even at a particular point in time.
The Market Analysis and Marketing section will require you to do extensive research. How much time you’ve spent researching the auto repair needs of people in the area you plan to do business? Who are your competitors? What services do they offer? How do they reach customers? What sets your business apart from other shops? What tools will you be using to reach and retain customers?
Finally, practice, practice, practice. Know your business plan inside and out and practice presenting it to an audience. Ask a business plan consultant to critique your presentation. And finally, don’t forget to review your business plan at least once a year!
Swish and Swipe, and everything is clean! That’s what cleaning companies do- add sparkle and shine to everything. A cleaning services company is a ‘neat’ business idea. It must begin with thorough planning and strategy to make sure all bases are covered. A well-written plan could make a huge difference right at the business planning stage. Apart from typical sections, several minor details are crucial to enhance a business plan. A business plan not only helps your get external funding but also prepares you for real business. What it contains must wash away any doubt and give a solid ground to grow. Including critical points and information in a proper manner improves chances of success and getting external funding.
★ A business must have a purpose- an underlying reason, such as to prevent allergies and spread of diseases due to dust and dirt, and so on, to spark interest in a cleaning company. Adding the primary purpose adds a sense of importance for a cleaning company. The business plan should talk about the target areas, such as commercial, residential, cars, carpets, Airbnb, and any other potential customers- why they will need the services.
★ The potential readers must get an idea of what to expect from the cleaning company in action. Talking about the kind of equipment for cleaning and the skill to operate and manage them is crucial for making your business plan stand out. The business plan should also talk about green products, protective masks, gloves, and other unique benefits.
★ Talk about the team, including a cleaner, a manager, and customer service persons. Doing so will give credibility to your cleaning services business.
★ A good plan outlines the marketing strategies, such as discounts, offers, subscriptions, and other techniques, such as limited-time promotions to roll out.
★ An essential part of any cleaning services company is that it should strikingly relieve its target customers of any cleaning difficulties. It should stand out among all other competitors in the same business. Think about what those points could be and how you could highlight them in your business plan.
★ Another vital point to keep in mind is to project the forecast of company goals and ambitions for the next 3-5 years—a better understanding of the road ahead with an action plan.
★ The business plan should convince the investors that the money they put in will be used wisely. Using strategic digital marketing over flyers and posters, using transport and other resources carefully, hiring the right staff, having a steady cash flow, and preparing for a downturn, give an excellent impression to the readers.
★ Support all of the above with carefully planned financial projections. Assessing the market risks, average costs, pricing structure, startup cost helps make a business plan practical. The plan should have justifiable costs supported by income statements, balance sheets, and cash flow statements.
Starting a cleaning company is an active task. A cleaning company calls for customer satisfaction from the very onset. A business plan can help address some of these factors right from the get-go. Questions to ask yourself: How will this business make a difference in the lives of your target customers? How will you ensure excellent customer service? How will you ensure a healthy ROI? There are a plethora of reasons you can benefit from writing a business plan or using a business plan writer service. If you’re seeking a loan or investment, or just want to think through every area of your new business, a business plan is an answer to all your preparations to launching your cleaning services company. If you are looking for business plan writers for your next cleaning services venture, let’s chat.
According to Statistics Canada, 1 in 5 Canadians practice yoga and the fastest-growing segment is the 18 to 34-year-old age group. From Yogis to Yogipreneurs, yoga instructors will find they have the flexibility of opening brick and mortar studios, teaching classes via online platforms such as Zoom or Google Hangouts, offering sessions for businesses or school children, or even instructing clients in their own homes. The steady growth of the yoga industry makes it possible for a business to do exceedingly well, and it’s essential to have a clearly defined vision and specific goals so that you are running your business instead of the business running you. A well-written business plan is a tool that helps you to do this, and a business plan consultant who assists you in crafting your plan is worth their weight in gold (and a deductible expense for your taxes). Some people believe that a business plan’s only purpose is to secure financing, but it’s much more than that. A professional business plan is a way for you to define your goals and objectives and identify strategies needed to meet them. Before you sit down to write your plan, make sure you’ve done your research. Have a clear idea about the kind of services you intend to offer and where you’ll offer them. At this point, you should have visited many different studios, taken several classes, and talked with other yogis. Don’t be shy. Most yogipreneurs are happy to share their stories.
This is the first impression. It’s a quick but concise introduction to your business, background, intended location, objectives, and how much money you need. This may seem counterintuitive, but writing the Executive Summary should be the last section you complete.
Be detailed here about who you are and what qualifications you hold. If you’re taking on other instructors as employees, detail their backgrounds. Explain your products and services and where they’ll be offered. For example, if you’re considering an online business, outline the setup. Will you be offering live yoga classes, or will there be pre-recorded sessions that participants can choose from?
The level of commitment you had to research will shine through here and will significantly help the small business plan writer you may have hired. How are your services different from your competitors? Demonstrate that you understand the demographics, age, gender, and lifestyle of your target market. Include results from informal focus groups or polls. It will show lenders you have a market and demand for your services.
You could be the best yoga instructor on the planet, but nobody will realize this without great marketing. A marketing consultant can outline a plan that will help you to build your brand and draw customers. Include your logo design, printed advertising materials, and links to social media. Explain how potential customers will buy your products and services and why they will come back. Lenders want to see the customer sales journey of finding you, purchasing what you are selling, and becoming repeat customers.
While your business idea has been born from your passion for yoga, you also want to make money. And so do your potential investors. In this section, you’ll identify income streams – be conservative with the numbers. Lenders have experienced businesspeople and tend to feel much more comfortable with conservative numbers. Next, write a sales forecast that is broken down monthly and itemize each source of revenue. Once you’re done with the income section, work through the same process for expenses. The idea is to show a point in time where your business will break even and then begin to turn a profit.
One of the goals of practicing yoga is to train the body and the mind to be thoughtful and focused. Use these skills to write your business plan carefully and deliberately, and don’t be afraid to hire a professional who can help! If you’re looking for some business plan writing help for your current or upcoming yoga studio, it can be worthwhile to start by talking to a professional business plan consultant to get a sense of what to include in your business plan.
The Intra Company Transfer (ICT) was created to allow international companies to send their skilled employees to Canada. These skilled employees set a Canadian office and expand a particular business in Canada while contributing to the local economy. If an international business wishes to set up a location in Canada, they need to submit an ICT business plan as a part of their application that fulfills the requirements of the Canadian government. To ensure that the business plan is successful, there are some requirements that business owners should be mindful of when setting up a branch or affiliate in Canada under the ICT program.
An ICT Immigration Business Plan allows business owners to demonstrate working relationships within all critical areas of the business operations. One crucial point of the ICT business plan is that it needs to show the intended relationship between the Foreign Worker/Canadian Entity and vice versa. There needs to be a clear layout of the finer details between both parties in the business plan. Essential information to include here would be company history, achievements, and continued success/growth strategies in the home country and a strategic expansion plan for the Canadian market.
Through the ICT, three types of workers are eligible for the program. These foreign workers are executives, managers, and other skilled workers. In the Intra Company Transfer’s business plan, there needs to be straightforward evidence of the expertise and qualification of the transferring worker. The business plan should provide this supporting evidence and how this will benefit the overall Canadian operations. Qualified ICT foreign workers can be of significant economic benefit to the local economy as they bring specialized skills and expertise to the Canadian labor market. ICT program is open to any country if they can meet the program requirements.
With a start-up ICT program in Canada, the business will need to demonstrate how they will financially support themselves. In the business plan, it’s important to show straightforward evidence of how the company will cover costs and highlight where funding will come from when operating in Canada. To ensure the business plan is a success, detailed financial projections with proper assumptions are also needed.
The ICT business plan needs to set out clear goals for the business in Canada. Failing to highlight these goals can result in the rejection of the application. Some of the business goals could be expansion and milestones within Canada, job creation, anticipated percentage sales growth, etc. Hiring a professional business plan writer can help ensure that the ICT business plan covers all the required information. An experienced business plan writer can offer the expertise to make your business plan stand out and increase the chances of success of your Intra Company Transfer application.
Are you looking for a Vancouver-based immigration business plan writer? Contact me here, and I’ll be happy to answer any questions you may have about your Intra Company Transfer business plan. Please note that the above information is based on my experience as a business plan writer for Intra Company Transfer business plans. I am NOT an immigration consultant. Any questions regarding your eligibility or immigration requirements must be directed to a licensed Canadian immigration consultant.
Further helpful reading:
Whether you’re looking to secure financing or mapping out your road to success, a Business Plan is an essential asset when it comes to creating a solid foundation for your business.
“The stars will never align, and the traffic lights of life will never all be green at the same time. The universe doesn’t conspire against you, but it doesn’t go out of its way to line up the pins either. Conditions are never perfect. ‘Someday is a disease that will take your dreams to the grave with you. Pro and con lists are just as bad. If it’s important to you and you want to do it ‘eventually,’ just do it and correct course along the way.” — Tim Ferriss, author of the 4-Hour Work Week
Here’s five embarrassing faux pas to avoid when writing your business plan!
You know why you think your business can blow the competitors out of the water. It’s time to consider what your competitors may have over you. Easily overlooked by entrepreneurs, the ability to step back and identify weaknesses allows you to see where your business stands. Learn how to leverage your strengths to account for your weaker points, adapt and use the information to grow your business. Having a tough time identifying your weakness? Consider the following: experience, staffing, location, and funding.
Optimism- a positive trait needed by every entrepreneur. Being overly and unbelievably optimistic can turn the tables on the credibility of your business quickly! Identify where your business is right now. Where does your business plan to go in the next month, six months, one year, etc. Provide supporting forecasts that champion your projections? These can include verified marketing strategies, financial aid, partnerships, and sales. Refrain from overinflating your numbers by not considering crucial factors such as your initial costs, contingencies, and salaries.
A common mistake and a dead giveaway are that the business doesn’t know its ideal target customer. Let’s aid this conversation with an example- A new Specialty Cheesecake Bakery identifies its target audience as people looking to enjoy a delicious dessert. Yikes! This is one mistake you should and need to avoid when writing your business plan. Yes, your product or service is fantastic; you have no doubt anyone that comes your way will walk away happy. The truth of the matter is not everyone is your target audience. For whatever reason, be it location, age, brand loyalty, language barriers, etc., without knowing your market, your audience, and the needs of your target audience, your business plan flatlines before it even gets the opportunity to get in motion. Here’s an example of writing a better, more defined target audience – Catering to those in the (location) area that enjoy moderately priced, specialty Italian cheesecakes by the slice or whole to go. Here you’ve defined the price range, area that the ideal customer would be looking for takeout rather than dine-in and the specific type of product. Identifying your target audience now narrows down your market from people like dessert to people looking for moderately priced specialty Italian cheesecake. Significant difference!
Most businesses are fueled by hopes, dreams, and desires. That’s all good and well but be sure to bring the documents and the realism along with your business plan. Financial institutions and investors are all going to want to see and know how you developed your business projections, milestones, and growth expectations. Supporting documents can include past sales records, market statistics, market research, inflation data, and development costs. Any actual, credible, and relevant documents can add viability to your business plan.
Keep in mind a remarkably simple concept- What do you plan to do? How do you plan to do it? Business plans have identified pillars; every part reverts to the two questions above. Refrain from overloading your business plan with too many technical or irrelevant details that take away from a strong, concise, and clear business plan.
Avoid these simple yet highly embarrassing business plan faux pas, and your business plan will reflect being put together by a realistic well-informed business owner. Good luck! And, if you are looking for a Vancouver-based business plan writer, contact me here. I’ll be happy to answer any questions you may have about your business plan requirements.
