![]() ![]() “The industry is a bigger leap of faith for investors. “The strength of the market research being applied will support the comfort level of investors in your business,” Hennessey said. They underlined how difficult this process is in any environment, and how it’s only becoming tougher as investors steady themselves from the whipsaw of the past few years. ![]() To get you started, we got the download from two people who know the score: Sean F Hennessy and Richie Karaburun, both clinical associate professors at New York University’s Jonathan M. Don’t get blindsided by the obvious costs of your unique project, because not-so-obvious ones will be all around you. You should do your best to figure out what it costs to hire a sous chef in Seattle and the price of bread flour in Honolulu and what A/C costs for a barbecue joint in July in Tulsa. You don’t need to know everything about the future in order to make a convincing plan. With a business plan, you show the world - or, more precisely, potential investors and partners - exactly what you intend to create, if you can secure the money and the help. The title for this package of art, chemistry, design, and accounting goes by the extraordinarily humble title of your business plan. And before your restaurant is going to launch, you likewise have to begin with the intense work of creating a blueprint of your idea - your restaurant’s themes, its physical spaces, its food, its drink, its staff, its marketing, its tech, and its expenses. ![]() Before your favorite album was recorded, a musician scribbled out some rhymes in a notebook. Before your car was built, it was a series of lines on an engineer’s laptop screen. ![]()
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