ABSTRACT
A plan is a formal document suitable for presentation to external agencies, to raise money or secure development capital and should demonstrate that there is a good chance of lenders either getting their money back or a good return on their investment. In the hospitality industry, as in others, it should demonstrate that there is a satisfactory market for the goods and services. The plan should instil confidence about the abilities of management to expand and manage the business. The plan is also used to keep the business on track or to alert management to any area that is not performing according to the strategy.
