How to Write a Business Plan for a Hotel Company

How to Write a Business Plan for
a Hotel Company

A restaurant remains a promising business prospect in the US as business conditions are projected to remain generally positive in 2019, according to the National Restaurant Association. Moreover, the years ahead are looking just as rosy. Mordor Intelligence, for instance, estimates that the overall US foodservice market will grow to $731.8 billion by 2024 at a compound annual growth rate of 3.7% between 2019 and 2024.

How do you get a foothold in this hundred billion-dollar industry? You can start by writing a business plan that you can use as a roadmap for starting or growing an existing restaurant. This document is also a key ingredient in securing for your business that much-needed funding from investors and lenders.

Here, we will break down important sections that you need to complete your restaurant company business plan.

Executive Summary

The section that is often written last, the executive summary provides a succinct overview of what your business is about. This is also the section where you could win or lose an investor, so you’d do well to include here key investment highlights, such as what makes your cannabis business stand out, and the market opportunity, which describes the unsatisfied areas of the market that your business could fill.

Company Analysis

The company analysis describes your business. In this section, you can introduce your company, including its concept, your vision for it, business model, and product offerings. You can also highlight its unique qualifications, or what makes your products stand out from the hundreds of other cannabis-based products in the market.

Industry Analysis

The industry analysis section details where the entire industry is headed. No investor worth his salt will inject money in a business belonging to an industry on life support. You should describe in this section the current performance of the industry and where it is headed. For instance, the global cannabis industry is projected to have a compound annual interest of almost 24% in the next six years. That is one piece of data that would bring most investors to your side.

Customer Analysis

Also referred to as the market analysis section. This section defines your customer base, or the end user. In most industries, a number of varying demographic groups contribute to the total industry revenue differently. For instance, individuals belonging to the millennial generation have different spending habits compared to the older generations when it comes to their cannabis purchases. It’s important to determine the size of these groups to give yourself and your investors an idea about the size of the market you can offer your products to.

Competitive Analysis

This section gives your reader an overview of your industry’s competitive landscape, particularly who the main players are, how concentrated their market share is, and the barriers to entry. This section not only shows that you are aware of the competition, it also offers you the opportunity to show your readers what makes your company stand out.

Marketing

This section tells the reader you plan to promote your product to your market. It should include your overall strategy and the channels and tactics that you plan to employ to make that strategy work. For example, if your research shows that cannabis users use social media a lot, then it’s a good idea to develop a social media plan to make sure you reach those prospective customers.

Operations Plan

This part often includes information on the management team and their backgrounds, corporate structure, key hires and their roles in the operation, business hours, and production details. In sum, this section gives your readers an idea on how your daily operation will be like and what kind of people you need to run the company.

Financials

You can expect this section to be scrutinized diligently by the investors and lenders you’re trying to woo. Think of this section as an estimate of your business’s future financial performance. Here, you should provide your readers with a breakdown of how your fund allocation and financial assumptions. You should also add an Appendix section where you can attach financial statements to support your claims.

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“Our company has had the pleasure of working with Franco for the last year. Our social media platform is in the process of raising $7M in capital. The business plan and projections Franco and his team provided have been an immense help to our efforts. Franco has always been readily available and willing to help.

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“I reached out to Go Business Plans back in 2016 at first and spoke with Phil Chau. He was very nice and very informative but I wasn’t quite ready to pull the trigger yet. All I did know at that time was that when I was actually ready, I would be reaching back out to them because my experience was great.

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“I have been working with The Go Business Plans team for two years now, and they have helped my company twice with their amazing work, attention to detail, and their bulletproof business plans. To say how amazing this company is, and how hard and meticulous the team works, would be an understatement!”

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