Illinois Business Kit For Starting And Existing Businesses

Author : Sharon L. Fullen
Publisher : Atlantic Publishing Company
ISBN 13 : 0910627363
Total Pages : 235 pages
Book Rating : 4.9/5 (16 download)

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Download or read book Opening a Restaurant Or Other Food Business Starter Kit written by Sharon L. Fullen and published by Atlantic Publishing Company. This book was released on 2005 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Book & CD-ROM. Restaurants are one of the most frequently started small businesses, yet have one of the highest failure rates. A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and proforma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. Because it provides specific and organised information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs personnel, suppliers, and others about your operations and goals. Despite the critical importance of a business plan, many entrepreneurs drag their feet when it comes to preparing a written document. They argue that their marketplace changes too fast for a business plan to be useful or that they just don't have enough time. But just as a builder won't begin construction without a blueprint, eager business owners shouldn't rush into new ventures without a business plan. The CD-ROM will cover the following subjects: Elements of a Business Plan, Cover sheet ,Statement of purpose, The Business, Description of The Restaurant, Marketing, Competition, Operating procedures, Personnel, Business insurance, Financial Data, Loan applications, Capital equipment and supply list, Balance sheet, Breakeven analysis, Pro-forma income projections (profit & loss statements), Three-year summary, Detail by month, first year, Detail by quarters, second and third years, Assumptions upon which projections were based, Pro-forma cash flow, Supporting Documents, For franchised businesses, a copy of franchise contract and all, supporting documents provided by the franchisor, Copy of proposed lease or purchase agreement for building space, Copy of licenses and other legal documents, Copy of resumes of all principals, Copies of letters of intent from suppliers, etc. A new study from The Ohio State University has found the restaurant industry failure rate between 1996 and 1999 to be between 57-61 percent over three years. Don't be a statistic on the wrong side, plan now for success with this new book and CD-Rom package.