Business Plans

Little Island

I have loved cooking and baking since I was a little girl in Jamaica. I once tried to bake my sister a birthday cake using a wood-burning stove. That cake wasn't a success but my latest venture into preparing food for others shows every sign of becoming a big success. Last May I opened “Little Island”, an authentic Jamaican Restaurant, in Hillsborough, New Jersey.

I got the idea to open my restaurant in the summer of 2011. I was taking the science courses I needed to get a degree in nursing, but really wasn't enjoying my studies. When I thought about what I really wanted to do, I kept coming back to my love for the Jamaican food I grew up enjoying.

The next step I took was to start my research — were there any direct competitors in Hillsborough?  How far would I be from nearest Jamaican restaurants?  What did they serve on their menus?  What was their pricing?  And, of course, what would it take to open my own restaurant?  Could I find a good location?  What licenses would I need?  What equipment?  Who were good, reliable vendors?  And most important, what would it cost?

All of this information is necessary, but can be overwhelming.  My son, Michael, suggested that I go to SCORE to seek advice.  I started working with SCORE mentors in August 2011.  My first focus was on forming an LLC and reserving my desired name both as a business and for my website.  I then moved on to developing a business plan that would allow me to determine what I would need to invest to open a new business and support that business through the critical first 12 to 18 months of operation. Fortunately, I didn't allow myself to be rushed into decisions.

My Location
378 South Branch Road
Hillsborough NJ 08844
United States
Year Company Formed
2012
What's Great About My Mentor?

L to R: Gene Strupinski, Hillsborough Township, NJ Business Advocate, June Lee, Ownerand Nancy Bukovina, SCORE Central Jersey Mentor

 

How SCORE Helped

SCORE Counselors worked with me from early in the planning effort for this business.  I first came to SCORE looking for guidance in forming a business entity and establishing a plan for my business. After the initial meeting, SCORE counselors assisted me in developing my business plan, defining strategies for negotiating my lease and determining an initial marketing strategy. I researched the pricing and quality of directly competitive restaurants within a viable commuting distance of my chosen location. SCORE then assisted me in developing a pricing strategy for my own menu that would be both competitive and profitable.

  1. www.bplans.com has model business plans.
  2. A free website.www.activeplans.biz has samples.
  3. SBA website has sample plans
  4. www.score.org/template_gallery.html SCORE website.
  5. Business plan software is also available through office supply outlets.
  6. Public Library Reference Desks

About the Author


Small Business summary of how to write a business plan and what needs to be included.

Thinking about starting a business? Great. Have you got a Plan? That's Plan with a capital "P" for Business Plan. If you haven't written your plan yet, your business is still in the fantasy stages.

About the Author

Microsoft Business - How to Write a Business Plan

www.microsoftbusinesshub.com/.../How_to_Write_a_Business_PlanCached
How to Write a Business Plan. ... Microsoft Business Hub BETA .... A company's business plan is what lenders such as banks and the U.S. Small Business Administration require.

 

Explanation of why every company needs a business plan.

“I'm a great believer in luck and I find the harder I work, the more I have of it;’ said Thomas Jefferson of his successes.  In addition to writing the Declaration of Independence and serving as the third President of the United States, Jefferson was an architect, scientist, inventor, philosopher and farmer.

Explains all functions relating to developing a business plan.

  1. EXECUTIVE SUMMARY
  • Why will the business succeed?
  • What do you want to start (or change)?
  • How much money is required?
  • What is the return on the investment?
  • Why is the venture a good risk?
  1. BUSINESS DESCRIPTION
  • What type of business are you planning?
  • What products or services will you sell?

About the Author

Donald F. Kuratko, Ph.D.

Small Business Forum, Winter 1990

Demystifying the Business Plan Process: An Introductory Guide

 

 

 

Developing a Business Plan

Summary

This free, online business workshop will help you gain insights on: why a biz plan is important and the preparation needed to begin writing it, the components of a business plan, and how to put it all together with supporting documentation.

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