Business Plan Thai restaurant in florida USA.
You need to have HeadingsTitle page,Executive Summary,Table of Contents
Section headings,References,Appendix
Please answer and follow all questions
Market Feasibility
1. What is the size of the market?
2. What is the growth rate of the industry?
3. Is the market at full capacity?
4. Where are customers getting the product now?
5. Where are the customers?
6. How many would purchase from you?
7. What external factors come to bear? Government, Industry Dynamics
8. How long will this opportunity last in the market? (Window of Opportunity)
9. What keeps new competition from entering this market? (Barriers to Entry)
Technical Feasibility
Questions to Answer
1. What are the options for developing the technology (customer, off the shelf, design yourself, subcontract)?
2. What are the options for producing the product or service?
• In House
• Subcontract
• License
• Joint Venture or Partnership
• Combination
3.What are the options for Sales and Distribution?
• In House
• Whole Sale
• Distributors or Sales Representatives
• License
• Joint Venture or Partnership
• Combination
4.What resources are required for development and are they available to you (skills, raw materials, components, suppliers, facilities & equipment)?
5. What are the laws and regulation relating to the business?
• Industry Standards or Regulations (Dangerous Goods, (Canadian Standards
Association – CSA), ISO
• Personal Certifications
• Intellectual Property (Patents, trademarks, copyrights)
• Environmental Liability
6. Has the research discovered any moral or ethical issues that you are uncomfortable with?
7. What technological changes are changing or emerging that may affect the business?
Financial Feasibility
1 What are the projected Revenues from the sale of your product or service?
• From the Market Research, what is the projected sales volume in “units sold?” and in “dollars sold”?
• From the Market Research, what is the selling price per unit?
• What is the total expected revenue?
2. What are the financial dynamics and opportunities?
• Costs Structure (per unit basis)
– Price per unit minus
– Variable Costs (Cost of Goods Sold & Controllable Costs) per Unit equal
– Gross Margin per Unit minus
– Fixed Costs per Unit equal
– Net Margin per Unit
3. Is it worthwhile financially?
• 1 Year Monthly Cash Flow Statement. (Completed in a spread sheet format so it can be built upon with new information)
• Ensure that you clearly show all assumptions for this statement.
4. How much investment is required?
• One Time Assets and Startup Expenses
– Plant & Equipment
– Leasehold Improvements
– Initial Inventories
– Research & Development
– Legal
– Experts
• Operating expenses prior to break even
5. What are the financial risks?
• Break Even Analysis Units to break even. (Total fixed costs from Income statement
divided by Gross margin per unit) Figure out on a monthly basis.
• Payback (Investment required divided by net margin per unit – Date when units calculated above are sold & collected.)
• Return on Investment (Yearly Net Profit divided by Total Investment required)
• Risk vs. Reward (Personal feelings of the risks and rewards)
• Opportunity Costs (Can you get a better return somewhere else?)
• Personal Financial Risk (What will you have to give up. Sign over mortgage etc.)
6. What are the possible sources of financing?
• Chances of getting the money?
• What will you have to give up?
7. General Financial Numbers that would indicate attractiveness of Venture
• Gross Margin 20 – 30% plus
• Net Profit Margin – 10 to 15%. Plus
• Return on Investment – 15% plus
• Payback – 3 years or less.
• Break even – 2 years or less
• Note: These numbers must not be looked at in isolation over a one year period. You need to look at the numbers over a 3 year period and as a whole, not just individually. Industry averages can be quite different.
Human Resource Feasibility
Questions:
1. What technical and management experience is required?
2. Who are the owners and what are their roles? (Entrepreneur, Manager, Tech. Expert)
3. What is the ownership structure?
4. What are the manpower requirements?
– How will you find the right employees?
– How will you compensate employees (pay for time, for production, for knowledge, or a combination)?
– How will you motivate employees?
– What training will they need on an ongoing basis?
5.What is the company’s growth strategy?
– How will quality be managed and maintained÷
– How will organizational structures change with growth?
– What career paths will employees have available?
Appendix A
Start-up Expenditures and Expenses Worksheet
Item Total Cost Cash Required
Land __________ __________
Capital Equipment __________ __________
Computer __________ __________
___________ __________ __________
___________ __________ __________
Beginning Inventory __________ __________
Start up Supplies __________ __________
Licenses and Permits __________ __________
Leasehold Improvements __________ __________
Utility hookups & Installation __________ __________
Advertising (Preopening) __________ __________
Insurance __________ __________
Other __________ __________
_______________ __________ __________
Total Estimated One-Time Cash Requirements __________ __________
Start-up Operating Expenses
Estimate No. of Months Total Cash
Item Monthly Expense X Before Break even = Required
Owners Salary __________ __________ __________
Employee’s salary, wages, benefits __________ __________ __________
Rent __________ __________ __________
Promotion expenses __________ __________ __________
Supplies and postage __________ __________ __________
Vehicle Expenses __________ __________ __________
Telephone __________ __________ __________
Travel __________ __________ __________
Interest __________ __________ __________
Maintenance __________ __________ __________
Other __________ __________ __________
____________ __________ __________ __________
Total Cash Required to Cover Operating Expenses _________
Plus: Total One-Time Cash Requirements (Previous Table) __________
Add 10% Safety Factor __________
Total Cash Required for Start-up _________
Learning Objectives:
Gather all your information and Action Steps together to build one coherent Business Plan; which will become a portable showcase for your business and more importantly an ever-evolving guide
Review the advantages and disadvantages of Business Plan software and using outside help to complete the plan
Review a sample Business Plan to discover how one pair of entrepreneurs defined, developed, and planned for their business
Understand that words talk, however numbers show it can be done
Develop the Notes section for your financial plan
Recognize the importance of providing all backup data for your readers
Launch your finished Business Plan with passion and hard work
Three-Part Structure: Words, Numbers and Appendices
Use Words: Introduce your strategies for marketing and management in Section I
Present Numbers: Present projected financial information in Section II and the appendix
Business Plan Software
Outside Assistance in Writing a Business Plan
Reminders
A Business Plan helps reduce the risk of failure
Make sure your Plan is easy to ready and well documented
The Cover Letter
The Table of Content
Address your letter to a specific person who can help your business
Be brief
State the reason you are sending the plan
Purpose is to open the door and prepare the way for negotiations
Tone should be confident and slightly formal
Imagine you have 3 -5 minute to explain your Business Venture to a stranger
This gives you an idea of the info you need in your executive summary
Answer the following questions:
What is the problem?
Why is your product/service the correct solution?
Who is the target market & has the product/service been tested?
Where will you reach you target market?
When will you launch the product/service?
How will you make money?
Practice explaining your venture
When you are satisfied, type up your summary
Make the reader exclaim, “Tell me more!”