A Business Plan Outline for a Gourmet Shop or Gift Basket Business (Part 1)

Introduction

We cannot overemphasize how important we feel that it is for you to do a thorough Business Plan before you start your gift basket business!  If you are seeking external financing (from a bank or other lending institution or from a private investor), completing a thorough Business Plan is often a prerequisite to obtaining financing.  However, even if you are self-financing your gift basket venture, we still strongly advocate that you complete a Business Plan with as much detail as you possibly can.  (It's always amazing how clear the myriad of issues that are "swimming around in your head" can be clarified once you write them all down!) 

The following is a suggested outline of the material that we recommend that you include in your gift basket Business Plan.  Unquestionably, your final Business Plan will vary according to your specific needs or to the individual requirements of your lender or investor and should be adjusted accordingly.  

Remember: If you fail to plan, you plan to fail!

I. Cover Sheet

This serves as the title page of your gift basket Business Plan and should include the following information:

• The names,titles, addresses and phone numbers of the owners or corporate officers
• The name, address, and phone number of your gift basket company
• The month and year in which your gift basket Business Plan was prepared
• The name of the person(s) who prepared your gift basket Business Plan
• The copy number of the gift basket Business Plan (for control purposes if you are distributing multiple copies to potential lenders or other financiers)

II. Executive Summary

• Briefly describe your gift basket business (who, what, where, when)
• Describe who your management is (you) and what your strengths are
• Outline what your objectives are and why you will be successful in this gift basket business
• Briefly summarize if your gift basket business needs external financing, why you need it, how much you need and how you intend to repay the loan or benefit the investor.

 
Note: Do not write the Executive Summary for your gift basket Business Plan until you have completed it! It is a summary and reflects the contents of the completed Business Plan. You may not know the answers to many of the points summarized in this section until you have actually worked through the exercise of doing your Plan!

Phyllis and Greg Sprout began their company, epicureanfoods.com, in July 1993.  They specialize in supplying hard-to-find gourmet foods and gift basket supplies to gourmet shops, gift shops and gift basket companies across North America. 

They have helped the founders of literally thousands of gift, gourmet food and gift basket companies start and grow their businesses.  Many of these companies remain excellent customers of epicureanfoods.com today.  They can be reached at phyllisandgreg@epicureanfoods.com.