By Sheila E at August 26 2019 13:04:16
Prove the Viability of Your Idea to Others _ A business plan is a great way to prove to yourself that your ideas are viable and that the catering company that you are proposing can thrive and make a profit. You will also need a plan in order to prove to other people that the business model that you have in mind is financially sound. Think of your business plan as being like a resume that you can hand out to people who need information about your business. You can always leave out sections that are not relevant to the reader in question.
I often see people split into two camps. On one hand those who almost ignore competitors in their business plan, because they do not want to think about the issue yet and feel so confident they have a great idea for the market regardless. But I recommend not being overconfident when it comes to competitors. They are still there for a reason, they are still around and in business for a reason, so view them with that in mind.