Earlier in Invest Engine Blog we have talked about executive summary contents and how to write executive summary. Using all this information we shall now pass to actually writing an executive summary taking restaurant business plan as an example. Writing executive summaries is among the most important business skills. The majority of investors whom you’ll address with your project will read your executive summary first. And only then will decide whether to proceed with your start up or leave it alone. So let’s get started!
1. Executive Summary Cover
Passing along a naked text is not a good idea. So do provide a cover for your executive summary. The executive summary cover page should contain: * your company logo;
* the title of your project;
* your contact information;
* the subtitle “Executive Summary” (not to confuse this document with the full version of your business plan). 2. The Opening Statement: Who? What? When? Where? Why?
From the very first sentence it should be understood what your project is about. Showing respect to your readers’ time and attention is highly appreciated. So if you can answer the Five W’s in a single sentence, it is perfect. But sometimes it is better to break it down into smaller sentences. And DO avoid general phrases and adjectives like “great”, “unique”, “exclusive” as they make you look boastful right from the start. From the cover page of our sample restaurant executive summary the reader knows that the project is called: “BBQ-5 – barbecue restaurant in Chicago, IL”. So the opening statement of the executive summary could be: “BBQ-5 is a new barbecue restaurant in Chicago, IL founded by Mr.BBQ. This will be the fifth restaurant of “Mr. BBQ Family of Restaurants” – the barbecue chain founded in 2005 and is already well-known in The Great Lakes area.” 3. Brief Company ProfileYou are sure to provide some detailed information about your company background, its mission and business objectives in your business plan. But the major highlights should be put into executive summary as well. Typically you are expected to say: * When was your business founded?
* What are the major industries and regions of operations? * What are your business mission and business objectives? * How many people work in your firm?
* What is your position in the company?
In the sample executive summary we are going through it is stated that “the chain was founded in 2005 and is already well-known in The Great Lakes area” (the info about the year the business was founded and the region of operation is provided). And so it is continued: “The other restaurants are located two in Cleveland, OH, one in Detroit, MI and one in Milwaukee, WI. Each of the restaurants started by Mr.BBQ reached the break-even point within a year. Though Mr.BBQ and Mrs.BBQ are principle owners, it is Mr.BBQ’s intention to offer outside ownership in “BBQ-5″ restaurant on an equity, debt, or combination basis in order to facilitate the opening of BBQ-5 restaurant and further growth of the chain.” From this paragraph it is clear that the principal figures in the company are Mr.BBQ and Mrs.BBQ and their major business goal is “further growth of the chain”. 4. Project Description
Normally executive summary should always be written last. You already have a perfectly written product description in your business plan and can now copy-paste the highlights into your executive summary. It should really take minutes! In the business plan for BBQ-5 restaurant it was stated that location is a key success factor. So in the executive summary it would be perfect to start with the advantages of the location and target audience of the restaurant: “BBQ-5 will be opened in leased premises in the very heart of Chicago – the Loop district. The Loop is the center of Chicago’s cultural, commercial and financial institutions. It is also the major tourist...