Ok, in theory, we don’t need a business plan as we are not going out for funding. However, doing a business plan is a good idea for anyone. (You will read the previous sentence on any business planning website.) So over the past two months I have been hammering one out in the midst of all the other startup stuff. It has actually been a help to put down on paper all the ideas, answer questions like “Why Crêpes,” do the SWOT analysis thing, and the most important piece, the financials.
Having done the initial menu as part of the Health Department Plan Review, I was able to take every ingredient, cost it out, cost the portions, and add them up to get a per crêpe cost for each item on the menu. Factor in labor, (yes we are going to pay ourselves – I learned that from my last business) I’ve made some guesses about how many crêpes we will sell at the farmers markets, and begged a couple of crêpe carts in other areas to comment on volumes. Overestimate the expenses, underestimate the revenue, goes the old saying. We’ll see at the end of the year.
So it feels good, and helped refine the elevator speech. Feels less flighty, and will hold in my tendency to start off in lots of different directions.