Business plan models
Business plan models are very crucial in any business organization. This is because they help the entrepreneur to outline what it is required to have a successful business. Here we discuss four different business plan models in the food industry. Each business plan model is different and designed to suit the type of business that one needs to start. The four business plan models that I am going to review are catering and ballroom rental business plan, catering business plan, non- profit food bank business plan and bakery business plan. These four business plan models are similar but they differ in different ways to ...view middle of the document...
The other issue is the opportunities which depicts that the four business plan models have equal opportunities in the market since they deal with food. The four business plan models are faced with similar threats in that one can cook food and no customers turn up.
However, the four business models differ in various ways. One of the ways in which the models vary is the amount of capital that is required to start. Catering and ballroom rental business plan requires a substantial amount of capital in order to be implemented whereas catering business plan for kids requires less amount of capital as compared to the other business plans. The other thing that may differ in the business plan models is the mission. For example, the mission for catering business plan is to provide youths with an opportunity to gain work experience and provide customers with healthy, homemade and affordable foods. The aim of the catering and ballroom rental business plan is to offer top class event experiences with impeccable execution to business and private clients. The mission of the non-profit food bank business plan is to alleviate hunger in Johnson County. The mission of the bakery business plan is to offer high quality coffee and pastry products at competitive prices.
Starting up food business can be challenging but at the same time it can be exciting. In this segment we discuss on the advantages of the four business plan models. One of the advantages is that the models identify the needs and the wants of the customers. This is a very crucial role in starting up a business since one just makes sure that they give only the necessary products to the customers (Mullins & Komisar, 2009). The other advantage is that the models determine the demand for the food product. The other advantage is that the models outline the possible measures for generating cash for daily operation. The other advantage of the business models is that they identify new product areas and they allow for test to see if strategies are giving the desired results. The other advantage of the business plan models is that they help entrepreneurs to identify new and potential customers. By doing this, the proprietor is assured of a growing and lasting business. This increases the chances of a proprietor to take up the risks and invest in the business.
However, the four models of the business have their own limitations. One of the limitations is that they identify the weaknesses in the food industry business skills. The other disadvantage is that they lead to faulty marketing decisions based on the improperly analyzed data. This is due to the fact that the information used in the business is not accurate but only estimated. The other disadvantage is that they create unrealistic financial projections. This is because most of the people misinterpret the information provided in the business leading to the collapse of the business. The other limitation is that the models identify the weaknesses...