Business Plan

Whether it’s a major sporting event, a low-key wedding or a kids party, food and drink at gatherings will always be in fashion. In fact, with a growing population of foodies and people becoming more nutritionally aware, it is increasingly a key part of an event. The key to success in the food business lies in a passion for excellent quality food and service, along with exploiting any gap in the food marketing that may exist in your area.

10 REASONS TO HAVE A BUSINESS PLAN AND START HAVING INCOME :

1. Being your own boss –

If you have your own business, the only person you have to answer to is yourself. Being your own boss gives you the freedom to do things your way and implement your own plans. Of course, you live or die by your decisions, but that’s what’s good about it, isn’t it?

2. Doing what you love –

or at least have a keen interest in The good thing about being an entrepreneur is that you can choose what kind of business you start up, and where. So, provided that you’ve done your research properly and there is a gap in the market, you can turn a hobby or interest into a profitable enterprise.

3. Playing by your own rules –

Start your own business and you get to set and meet your own deadlines. Of course, you won’t be able to just lie in bed until 3 pm – you will need self-discipline. But meeting your own targets can be a huge motivation to work hard and drive the business forward.

4. The freedom to express yourself –

If you have considered going it alone, you will have thought out how you would do things your way. You will have the freedom to express yourself and develop your concept in any way you choose. Of course, there may be financial constraints, but you will have the opportunity to be as creative as you like.

5. Plenty of support available –

The news is full of stories about the amount of red tape and taxes that small business have to face on a daily basis. However, over the past few years, several measures have been introduced that should make it easier to go it alone.

6. Make a fortune –

or at least enough to live There are countless stories of entrepreneurs hitting on a great idea, exploiting it successfully and being well on their way to their first million by the end of the year. Although the startup process can be tough, with long hours and little money not uncommon, if you run your business well, the rewards can be huge. And, from a purely selfish point of view, you will get most of the profits yourself.

7. Doing a variety of things –

Dealing with spreadsheets one minute, suppliers the next and then having a look around your new shop – an entrepreneur’s work is not just busy, it is also extremely varied. If you want a career where every day is different, going it alone could be for you.

8. Have a second career –

Of course, if you don’t want to give up a regular income, you can always get the best of both worlds and remain as an employee while running your own business. Although juggling the two can be tricky, having a successful sideline should be a profitable option. Do something that you are interested in and go for it.

9. Cutting commuting –

by setting up close to home although most small business operate from home, many entrepreneurs and that operating from home helps keep costs down in the early stages. As well as having familiar, comfortable surroundings to work in, you don’t have to endure the daily tangle with public transport or clogged up roads.

10. Realizing your big dream –

You may feel that starting up a small business won’t lead to anything more than having your own desk and taking on a few extra staff. However, it’s possible to make it really big – just think of the late Anita Roddick, who became a Dame thanks to her entrepreneurial achievements. She started a small shop in Brighton on a shoestring in the 1970’s. Before long, she had a chain of Body Shop stores across the UK and was launching her concept in the USA. So, don’t dismiss your dreams as a mere fantasy – it really could happen. What are you waiting for?

TIPS FOR CHOOSING THE RIGHT BUSINESS PLAN

1. Base it on a key skill or interest.

2. Draw up a list of what you are looking for from your ideal business.

3. Search out the most successful businesses nationally and locally.

4. Find a gap in your local market.

5. Canvas opinion from friends and family about your idea.

6. Consult business contacts about your idea, such as your accountant.

7. Check out local competition and decide if you can do it better.

8. Look into the level of finance you will need and whether you will be able to secure it.

9. Find out if anyone likes your idea enough to go into business with you.

Here are some sites that will give you sample Business Plans:

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