Developing a Business Plan For Your Donut Business
By [http://ezinearticles.com/?expert=David_Pierce]David Pierce
This first series of articles will focus on the basic components of a business plan. While there are numerous books, on-line articles and other sources available they do not specifically deal with the concept of starting a donut business. I will outline the components of a standard business plan with this in mind so that what you learn will be specific to what you need.
So what is a business plan? A business plan is a written statement divided into topical sections that takes both the writer and potential readers from the business concept through planning and finally to implementation of the concept into a workable business. It provides a step-by-step guide that includes a description of the business concept, research, marketing, financial projections, and more.
Probably the most crucial part of the plan is the very beginning, the Executive Summary. This is the part that summarizes all the information in the later portions of the plan making it a clear and concise synopsis. Ironically, one should write the Executive Summary last once all the other parts are in place as it is much easier to summarize that way. If you are seeking funding for your donut business from a bank or an investor, this is the part they will want to see first. The Executive Summary is what hooks them and makes them want to know more about the business. The rest of the plan will then be read, but if the Executive Summary is less than convincing then you may not be able to even get your foot in the door.
The Executive Summary should be composed of little bits of the other parts of the plan--that is why you write it last. Think about targeting the wording. Who will be reading it? Is it a bank? A family member willing to lend you money? A government agency? Do a little homework on your reader to figure this out.
You need to get the reader excited about the concepts within by talking about one or two of the most impressive features in great detail. But, don't make it lengthy. Two pages is the maximum length, and it should take no longer than 5 minutes to read. Save the details for later in the plan. It may be tough to fit everything into such a short space, but brevity is paramount to hold a potential investor's attention.
You may not be seeking funding for your donut business because you have other sources of start-up money. Do you still need a business plan? Yes. It will make you think things out in detail, saving you time, money, and possibly heartache later on. Even if you are the only one who reads it a business plan is still an invaluable item. The better prepared you are to start your business the sooner you will be able to make your dreams a reality.
David Pierce is owner of [http://www.mydonutbusiness.com]Donut Business where he blogs step by step on how to operate a donut concession business.
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December 8, 2009 | 
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