Executive Summary for a Catering Service Business
Are you interested in writing a business plan for your catering business, but you are a little uncertain about how an executive summary for a catering business should look like?
In this post, efforts have been made to enlighten you on the key things that must be present in your executive summary, and a sample of what an executive summary should look like has also been provided to guide you.
What is an Executive Summary?
An executive summary of a business plan is basically an overview of the business. The main purpose of the executive summary is to give a reader a brief summary of the key aspects of the business plan document to save them the time of going through the whole document, and to get them set for the details that follow.
An executive summary is to a business plan what an abstract is to a report. When writing an executive summary, you must make sure it is clear and concise as best as possible whilst retaining the key information.
It must be written in such a way as to entice the reader to make them want to keep reading. It is for this reason that the executive summary is regarded as the most important part of the business plan.
The executive summary appears first in the business plan, but that does not mean it is written first. Because the executive summary is a summary of the key aspects of the business, it has to be written last.
When writing the executive summary, ensure you use proper language that is clear and unambiguous, and easy to understand. You do not want to turn off your readers at the start of reading your business plan document.
One of the major reasons why entrepreneurs write business plan is to be able to appeal to both banks and investors for loans. This is why your executive summary must not be poorly written, because it is the first thing that your reader would read.
The information that is contained in an executive summary depends on whether the business is an established one or a start-up. A typical executive summary for a start-up will carry the following information:
- The business opportunity and way of taking advantage of the opportunity
- The target market
- The business model
- Marketing and sales strategy
- Financial analysis
For an established business, a typical executive summary should carry the following:
- The mission statement
- A general history of the company
- Business highlight
- Financial summary
- Future goals
You do not necessarily need to write an executive summary for your business plan if you do not plan on seeking for loans from investors or sharing your business plan with others to read.
Sample Executive Summary for a Catering Business
Christina Foodies is a genuine catering business that has been fully registered, and has obtained all the necessary license and permits required for the catering business. Christina Foodies will be located in one of the busy suburbs of the Pennsylvania region, United States. Christian Foodies is a catering business that will be ready to provide unique, nutritious and tasty food options to customers all around the United States, no matter the location.
Christina Foodies hopes to reach the heights of becoming the number one catering business in Pennsylvania and the United States. With the expertise of Chef Louise, we will be able to reach our business goals within our first five years of doing business, and be able to satisfy our mission of delivering the very best and nutritious foods to our customers.
Christina Foodies will be owned and managed by Christina Thompson, who has had more than a decade experience in the catering business. She had managed several reputable catering businesses in Las Vegas and Florida.
Christina Foodies will start as a small scale catering business in Pennsylvania, and before its third anniversary, it will have grown and expanded its perimeters to several states in the United States. The major target market for Christina Foodies will be individuals of all age groups, young and old, male and female.
The competitive advantage that Christina Foodies has over other catering businesses, and sets it apart from the rest is the customer-friendly atmosphere and staff. Christina Foodies’ staffs have been trained, imbibing in them the business’ core values, to maintain excellent customer services. Our customers, from both far and near can attest to the warm atmosphere of Christina Foodies.
Christina Foodies will start small, and a total estimated start-up capital of $200,000 is what will be required to start and manage the catering business within the first three months. This capital will be used for the purchase of equipment and other facilities, lease of space, payment of first three months salary of employees. Efforts have been made to gather the start-up capital.
Christina Thompson has been able to gather a total sum of $75,000 from the sales of her assets, and from her savings working as a catering business manger in Florida. A total of $150,000 will be borrowed from the bank as soft loan, while the remainder will be obtained from her relatives.
The business had devised several ways to be able to generate capital to reimburse the loans that will be obtained at start-up. One of such ways is through the sales of our products at reasonable prices. Christina Foodies hopes to settle all loans before the end of the second year of business.