In order to come up with good business plan you need information about how your business will operate. Unfortunately, it's difficult to get good operating data for a start-up. The standard source of such data are based on averaging operating data for businesses that gave already survived the start-up phase. Those businesses are of all sizes, ages and locations. What does a start-up restaurants in Portsmouth, New Hampshire, have in common with an established restaurant in Houston or Los Angeles or Chicago? Not much beyond being in the same industry. However, there is a source on the internet that will get you started. Googling or visit www.morebusiness.com/tools/bizstats to compare your business's projected figures to trade or industry - but keep in mind that the base is not formulated using start-up numbers.
Once you have your projected revenues and expenses, check with your accountant to see how well they fit what your banker's or another sophisticated investor's ideas of what your financial picture should be. Or better yet, sit down with your banker, show him or her your early numbers, and solicit his or her advice on how to make your projections as realistic as possible. This shows that you are serious about your business and helps build credibility with your banker.
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