Business Plan

A business plan is a formal statement of a set of business goals, the reasons why they are attainable and the plan for reaching those goals. Plans focus on financial goals, product developments, production and sales. Business plans target changes in perception by customers and consequently, branding. A well thought out, comprehensive business plan is essential to communicate the strength of the brand and business proposition to potential investors. Having professionally written business plan dramatically increases the odds of succeeding as an entrepreneur. A strategic business plan is a blueprint for the future. It can be an aid in managing and organizing the business, helping to identify opportunities and manage the financial aspects of the business. A good business plan communicates a great deal of information in a succinct and meaningful manner to investors who can take the business to the next level. Cleary, potential financiers will want to understand as much as possible about the business and its prospects before backing it. Elements of a Business Plan 1. Cover sheet 2. Statement of purpose 3. Table of contents I. The Business A. Description of business B. Marketing C. Competition D. Operating procedures E. Personnel F. Business insurance II. Financial Data A. Loan applications B. Capital equipment and supply list C. Balance sheet D. Breakeven analysis E. Pro-forma income projections (profit & loss statements) F. Three-year summary G. Detail by month, first year H. Detail by quarters, second and third years I. Assumptions of the projections J. Pro-forma cash flow III. Supporting Documents A. Tax returns of principals for last three years Personal financial statement (all banks have these forms) B. For franchised businesses, a copy of the franchise contract and all supporting documents provided by the franchisor C. Copy of the proposed lease or purchase agreement for building space D. Copies of licenses and other legal documents E. Copies of resumes of all principals F. Copies of letters of intent from suppliers

Drink Flavors

Consumer preferences have become increasingly complex. This is especially true in the beverage industry, where there is an ample offering of products, each with differing flavor profiles. Research and development teams work diligently to stay on top of consumer trends. Beverage industry experts have a library of flavors that address cultural preferences. A drink flavor that is very popular in Japan may not successfully penetrate the United States marketplace. Relying strongly on sensory research, the beverage industry employs teams of scientists, food specialists and taste testers who experiment with drink flavors to find those best suited to meet the needs of varying demographics. Taste, smell and texture are some of the more important attributes that testers analyze and rate. All ingredients in drink flavors and formulations must meet FDA guidelines and regulations. Beverage industry experts will be aware of these requirements and will make sure that products meet these guidelines. Qualified beverage experts will also be aware of international regulations and ensure products comply. When working with beverage flavors, modifiers enhance the taste of a beverage while other agents mask unpleasant tastes often associated with vitamins, herbs or other ingredients. By using the right mix of beverage flavors and natural ingredients, developers can balance taste profiles and health benefits. Developers use natural and artificial flavorings together to achieve a desirable flavor profile for a drink. Natural ingredients are those whose flavoring originates from a natural source such as a vegetable, fruit or raw animal materials. A laboratory synthetically produces artificial flavorings. Shelf life affects the formulation of beverage flavors. A shelf-stable beverage may not require refrigeration but its ingredients can affect its shelf life. Some beverage flavors require refrigeration to preserve quality and flavor. Drink flavors can be complex, combining many ingredients to produce a product that delivers a favorable sensory experience.