how to start up a business

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how to start up a business

Сообщение khadamat » 07 мар 2020, 19:21

Also known as the products or services department, it tells investors about the hours worked and the number of employees you plan to hire. It is also where you explain the benefits of your organization to customers, such as its convenient location in the city center or its proximity to the local highway exit.
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This is also a good place to remember any close links that bind you to local restaurant vendors, such as food supply companies or local farms, that will give you a competitive advantage. For example, licensing wines is expensive and can be difficult to obtain in some markets. Here, you can explain to investors that you have appointed a consultant who specializes in negotiating and purchasing wine licenses to deal with this aspect of your business.
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Management and ownership
Who will lead the ship? Who will cover aspects of work that you cannot? In addition to ownership, explain the hierarchy of your management as well. For example, will managers in specific areas - dining room, bar, business - etc. - inform the general manager who reports to you after that? Or will everyone report to you equally? The structure you choose is less important than having the right structure for you. You also want to make sure the structure function is easy to explain to investors or lenders.

financial analysis
Here, you want to list the expected growth for your new restaurant. You must include a general startup budget, as well as a statement of profit and loss that you expect to spend against the amount you will spend.
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Lenders and investors want to see that they will get a return on their investment, so give them a picture - and be realistic - of how this happened. Put this work to accurately estimate labor and food costs, along with other operational costs, and compare these costs with the expected sales growth for your restaurant. A detailed financial plan will provide a road map for assessing how your business does each year.

Outside help
Many people who open a restaurant are not business professionals with experience, so it is a good idea to find a business partner with the necessary expertise. If you can't find a partner, consider hiring a consulting firm that specializes in helping new restaurants stop their operations. At a minimum, recruiting a professional who knows how to write a business plan will ensure that you have a good opportunity to endure those first difficult years.

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