By Mildred J at August 28 2019 05:57:02
Make Selling Out a Breeze _ Many caterers end up selling their businesses if they retire or move on to other projects. A business plan that is up to date can really help when it comes to valuing your business for a potential sale. If your business offers a buyer a blueprint for managing the business and it offers solid proof that the business is making a profit then it could really help you to seal a deal at a favorable price.
Developing Planning Modules: Compartmentalizing your plan by developing planning modules or "chunks" allows you to attack the plan in parts, yet still maintain a cohesive plan. I have found that developing an annual plan made up of quarterly targets _ thus becoming a rolling quarterly forecast financial model _ allows for a cohesive structure along with the nimbleness to react to market conditions. At the end of each quarter, a true_up process to align results to annual targets needs to be re_forecast and adjustments made.