Your Business Should Be Flexible, Not Rigid _ Your business needs to be flexible and dynamic. It needs to adapt to your customers needs, to the changes in the market, to the economic climate, to the available technology. It needs to evolve as you experiment with advertising media, copy, headlines, price points, offers, social networking and split testing. As you create a market you'll be surveying them to find out what they really want from your business and then you'll be creating exactly that. You'll be creating goals that you want to achieve and tracking them weekly or monthly using a spreadsheet. The common factors here are flexibility, experimentation and adaptation. Now tell me where a rigid five year business plan fits into this scenario? It doesn't, because a rigid plan is the last thing you need.
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. There are many people who may wish to view your business plan and you should keep them in mind as you put it together. If you are seeking funding then you may have to show the plan to prospective lenders or equity investors. As a caterer you will certainly have to comply with local health and hygiene requirements and these local authorities may expect to see a section in your plan relating to these areas. You may even need to show your business plan to the owner of any kitchen premises that you hope to lease before they agree to sign an agreement with you.