Create an expenses budget. Know your margins.
If you are seeking a loan, you may need to add supplementary documents to the financial section, such as the owner's financial statements, listing assets and liabilities.
Any bank or lender will also ask to see these numbers as well to make sure you can repay your loan. One way, Berry says, is to break the figures into components, by sales channel or target market segment, and provide realistic estimates for sales and revenue.
Download Top Tips for Writing an Effective Business Plan Before going into details in making an effective business planlet us review what makes the business plans vital to any business.
But accounting looks back in time, starting today and taking a historical view. That's money you owe because you haven't paid bills which is called accounts payable and the debts you have because of outstanding loans. They are going to want to see numbers that say your business will grow--and quickly--and that there is an exit strategy for them on the horizon, during which they can make a profit.
Service This section is most relevant for fine-dining concepts, concepts that have a unique service style, or if you have particularly strong feelings about what role service will play in your restaurant.