A business plan for seasoning blends must show what the market demand should be for your spices, how you make them, and the amount you will charge for them at retail or as a supplier/wholesaler depending on your market position. The average value of a spice should be reflected carefully in the revenue forecast as well. If you plan to make anything else besides spices, list out these other items and describe them in the product and services section. Also make sure you use an assumptions table to show your mix of products and the prospective customers for each. The plan should address how you find new customers and where your business is, in addition to the competitive forces at play. Your business plan should describe:
• What experience do you and/or your managers have in this industry?
• How will you market to buyers?
• Who do you need to employ?
• Will the start-up period last 6 months, 9 months, one year?
• What other spices companies do you compete against?
The business plan for spices requires a biographical section that describes your work history and education, experience, etc. Show what you and your partners bring into the fold. Make sure to include details about the restaurant industry and any trends that impact your business now and in the future. For the financial model, show five years of revenue and expenses (for an investment) or three (for a bank loan) -- show sales forecast, break-even, profit and loss statement, balance sheet, and cash flow as well as a sensitivity analysis. Need assistance putting the plan together or outlining the spices or market, or need unfettered access to new market research? Call MasterPlans today. The MP team of experts can make your plan for you! (877) 453-2011.
