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8 Tips On How To Go About Writing A Business Plan For Your Restaurant
When it comes to starting a restaurant, one of the most important things you’ll need is a well-written business plan. Not only will this document be essential in helping you secure funding and investment, but it will also serve as a roadmap for getting your business up and running. So, how do you go about writing a business plan for your restaurant? Here Are A Few Tips: 1. Define your concept and target market. Before you even start writing your business plan, you need to have a clear idea of what your restaurant will be all about. What is its concept? Who is your target market? Answering these questions will…
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What Does Your Business ACTUALLY Need To Thrive?
Developing a business can sometimes feel as tiring as planning a wedding. There are expected standards in both, traditions to follow, and methods that are time-honored for a reason. You don’t wear your pajamas at a wedding for example, even though most people would admit this could be a more comfortable time. When running a business, it’s so easy to feel overwhelmed by the ‘should do’s’ rather than the ‘could do’s’ and even ‘wants’. For instance, most of us know that in order to promote our brand, we need to be active about engaging with and reaching an audience. But do we really need to use the corporate-clean language with…
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How Do You Determine The Price Of A Commodity?
Commodity prices are often erratic. This is because there are many factors that affect the demand and supply of a commodity, and thus affect the price too. This article aims to add further clarity to what these factors determining commodity pricing are in order to give everyone a basic understanding of how the market for commodities works. What is a commodity? Before delving into what these factors are it’s crucial to establish what a commodity is. Some prime examples of commodities include; Copper Crude oil Wheat Iron ore Coffee beans Gold In economic terms, you can easily differentiate a commodity by labeling it as an asset whereby if depletion occurred…