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8 pasos para crear tu business plan y vender tu proyecto

¿qué es un business plan, ¿para qué es, ¿quién lo redacta y cómo, 1. presenta la empresa y el equipo directivo, 2. enuncia los productos y servicios, 3. prueba que existe un mercado potencial y el perfil de tu cliente, 4. identifica tu entorno competitivo, 5. determina tu modelo de negocio, 6. proyecta el plan de marketing, 7. solicita financiación, 8. evalúa el riesgo, business plan template: ejemplo concreto y plantilla en español, plan de negocio: modelo al alcance de la mano.

La puesta en marcha de un proyecto empresarial suele comenzar con la creación de un business plan (en español, plan de negocios) .

Si estás planeando lanzar tu idea de negocio, probablemente ya has escuchado hablar de la importancia crucial que tiene este documento para poder hacerlo. ¿Pero a qué hace referencia exactamente?, ¿es acaso solo un resumen ejecutivo ?

En este artículo te contamos qué está en juego durante la redacción de un plan de negocios , te damos un ejemplo concreto y te presentamos los pasos a seguir para lanzar tu proyecto ¡y obtener financiación !

Business plan: definición y finalidad

Un business plan, en español plan de negocios , es un documento o plan empresarial que presenta la estrategia y las repercusiones financieras que tendrá un proyecto, generalmente, a lo largo de tres años.

Cifras y argumentos son elementos clave para explicar la ejecución operativa y estratégica de tu proyecto , frente a inversores y/o bancos.

Su concepción tiene lugar durante la tercera etapa del lanzamiento de un proyecto , después de la creación de un producto o servicio que se va a comercializar y de la formalización del modelo de negocio.

Así pues, el business plan presenta la evolución de la empresa durante un período determinado, considerando:

  • recursos consumidos ,
  • ingresos generados.

El plan de negocios busca explicar, de forma estructurada y argumentada , principalmente a personas y organizaciones ajenas al proyecto, los diferentes aspectos que contribuirán a darle vida (acciones comerciales, la estrategia de marketing y las contrataciones a prever).

Saber a quién va dirigido es fundamental para desplegar los argumentos necesarios que conlleven a un apoyo financiero. Dichos argumentos deben contemplar:

  • la capacidad del negocio de generar beneficios ,
  • el plazo en el cual se devolverá el préstamo y sus intereses,
  • las acciones que acarrearán un valor agregado .
Escribir un plan de negocios es explicar cómo se va a usar el dinero de otros para concebir un negocio fructífero.

La solicitud de financiación se apoya en la solidez y calidad de la información proporcionada. Asimismo, en la capacidad que demuestres de dominar las claves de la gestión empresarial para formalizar tu proyecto .

Es claro que la persona que va a llevar a cabo el proyecto es quien debe realizar la redacción del documento, pues será quien pueda defenderlo a cabalidad. Sin embargo, esta puede ser ayudada por una persona experta en gestión o contabilidad .

Un plan de negocios debe ser leído gradualmente. Para esto, desglosa la información , sin perder de vista elementos mínimos como:

  • La presentación : documento simple y comprensible, que se enviará por correo electrónico y servirá de apoyo durante tu intervención oral y discurso.
  • La hoja de cálculo con las estimaciones a futuro: ventas, facturación, gastos, etc.
  • el plan de marketing (estudio de mercado, análisis de la competencia, definición de la persona, etc.),
  • la empresa (estatutos, currículum del equipo directivo, organigrama, copias de patentes y licencias, etc.),
  • la gestión de finanzas (balance de apertura, presupuesto de funcionamiento, presupuesto, flujo de caja, etc.).

Cómo hacer un business plan sencillo en 8 pasos

El siguiente video enumera algunas de las partes que constituyen un plan de negocios. El detalle del paso a paso te lo cuenta appvizer a continuación.

Aunque no hay un único modelo para construir un plan de negocios, sí existen ciertos pasos esenciales que deben seguirse. El orden de los mismos no es obligatorio, puesto que lo principal es aplicar un razonamiento lógico .

Como fundador.a de la empresa , detalla tu experiencia , habilidades clave y conocimientos empresariales en relación con el proyecto. Describe también la empresa y su sector de actividad .

Explica primero cuál es el problema o necesidad que presentan tus clientes, para luego demostrar cómo tu proyecto proporciona una solución. Esta es la razón de ser de la empresa .

Al mismo tiempo, presenta la estructura del grupo de personas que constituyen la empresa, detallando:

  • experiencias exitosas del pasado,
  • experiencias individuales,
  • competencias individuales,
  • la complementariedad de las habilidades del grupo, todas las habilidades deben estar presentes para realizar el trabajo,
  • la visión común compartida por todos y la motivación.
  • experiencias en tu campo de negocio,
  • notoriedad y otros factores influyentes.

El producto o servicio debe satisfacer la necesidad existente expresada por el mercado . Se debe analizar la situación futura de la empresa, presentando sus debilidades y amenazas, así como las fortalezas y oportunidades ( matriz DAFO ).

Matriz-DAFO

© Infoautónomos

Demuestra que existe un mercado para tu negocio y proporciona todos los detalles posibles sobre la situación actual:

  • tamaño y potencial del mercado ,
  • crecimiento,
  • clientes potenciales, segmentándolos para indicar para cada grupo la parte que representa en el volumen total del negocio,
  • costes de penetración en el mercado (cargas sociales, esfuerzos de comercialización, activos fijos, etc.).

Una investigación de mercado puede reforzar este paso. Muchas agencias especializadas ofrecen servicios para entrevistar clientes futuros, con el fin de reunir datos cuantitativos y cualitativos.

La falta de competencia no es una buena señal, así como tampoco el exceso de la misma. ¿Quiénes son los competidores del mercado?, ¿cuáles son las barreras de entrada para los recién llegados y cómo las superarás?

Concéntrate en señalar tus fortalezas y aquello que te diferencia, puesto que esto constituye tu ventaja competitiva .

El modelo de negocio o modelo financiero es la forma de traducir , en términos económicos, tu actividad: qué vendes, a quién y a qué precio.

Entre lo muchos modelos que existen, escoge el más adecuado para tu negocio. El paso de un modelo de negocio a otro, llamado " pivote ", significa que el plan de negocios debe volver a concebirse casi que por completo, por lo cual es importante tomar la decisión correcta desde el principio:

  • ¿De dónde vendrá el volumen de negocios ?
  • ¿Cuáles son los canales de distribución ?
  • ¿Cuál es la estrategia de precios ( posicionamiento )?
  • ¿Cuál es la estrategia comercial ?

Pregúntate cómo conquistar tu público objetivo. Puedes basarte en las 4 Ps de Porter :

  • punto de venta ,

las-4-p-porter

Construye la comunicación alrededor de tu producto, basada en un retrato de tu clientela tipo o tu persona de marketing, de manera que puedas definir:

  • un plan de acción de marketing (objetivos, campañas a realizar, canales, presupuesto, etc.),
  • un plan de comunicación (objetivos, metas, mensajes, apoyo, presupuesto, etc.),
  • indicadores para monitorear las repercusiones y beneficios .

En esta parte, te diriges a los destinatarios de tu business plan, explicándoles los recursos financieros que necesitas ( capital necesario ) para ejecutar el proyecto y cuál será su utilización .

Considéralo como una promesa: dotas de valor el negocio , mostrando los beneficios que un socio financiero podría obtener de él y las garantías que puedes ofrecer para la financiación. Para esto es necesario presentar la proyección de gastos e ingresos , la viabilidad, los aspectos contables y todos los demás elementos que justifican la rentabilidad financiera del negocio .

Es importante poder demostrar que serás un.a buen.a administrador.a de las finanzas y del flujo de caja de tu empresa , a partir de las previsiones trimestrales a tres o cinco años.

  • Modelo de presupuesto: cómo hacer y plantilla para descargar

Aunque es aconsejable no centrarse mucho en los riesgos, sí se pueden evaluar los posibles escenarios desfavorables que podrían surgir. Los bancos esperan un riesgo mínimo , mientras que los inversores privados generalmente esperan una alta rentabilidad . Para esto, anticipa posibles contraargumentos de su parte y propón tres planes diferentes de desarrollo:

  • El razonable : el que esperas;
  • El optimista : el que, si todo sale bien, dará los mejores resultados;
  • El desafiante : el que a pesar de las dificultades, lentitud e imprevistos, se tardará un poco más en alcanzar la rentabilidad.
El buen empresario identifica los riesgos, en qué etapas del proyecto se pueden presentar y cuáles son las medidas que se deben implementar para mitigarlos.

Aquello que pueda tener un impacto sobre el plan de tesorería deber ser igualmente contemplado, con el objetivo de presentar cuáles serán los medios para controlarlo.

Te presentamos nuestra plantilla de plan de negocios . Incluye todas las preguntas que debes hacerte para cada parte, con el fin de reunir la información necesaria y avanzar en tu reflexión. Utilízala como base para un resumen detallado y personalízala, de acuerdo a las especificidades de tu proyecto.

Plantilla para hacer Business Plan lista para usar

En cuanto al componente financiero de tu negocio, por otro lado, te puedes valer de una matriz excel , con proyecciones a tres o cinco años, según lo hayas decidido.

El business plan es una soporte poderoso que permite a empresas consolidadas y emergentes, hacer la proyección a varios meses de una idea de negocio. Este contempla todas las variables que afectan diariamente el proyecto y es un soporte escrito para convencer a terceros de que lo apoyen y financien.

Existen herramientas y métodos en línea que simplifican el proceso de concebirlo y te aseguran el cumplimiento de tres criterios esenciales para atraer el interés de los inversores:

  • que tu solución ofrezca respuesta innovadora a una necesidad real ,
  • que cuentes con un equipo calificado ,
  • que el tamaño del mercado sea lo suficientemente importante como para invertir.

¿Y tú, a qué idea exitosa le vas a apostar hoy?

Artículo actualizado, publicado inicialmente en febrero de 2020.

Ingeniera civil (Universidad Santo Tomás, Bogotá, Colombia) con máster en lenguas modernas de la Université Paul Valéry de Montpellier, Francia, María Fernanda trabaja como traductora, redactora y creadora de contenido. Hoy en día, combina sus habilidades analíticas con su amor por la escritura para crear contenido de calidad sobre diferentes temáticas y llevarlo más allá de las fronteras. Yoga, bienestar, recursos humanos y un sinnúmero de temas del mundo empresarial, cada asunto es tratado con precisión, con el objetivo de adaptarse a un público objetivo específico. Este camaleón idiomático es un verdadero apasionado por la lista de viñetas (¡el SEO forma parte de su ADN!).

María Fernanda Aguirre

María Fernanda Aguirre , Editorial Manager

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Guía para Pequeña Empresas - Small Business Guide: Plan de Negocio - Business Plan

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  • SBA - Redacte su plan de negocios Su plan de negocio es el fundamento de su negocio. Aprenda a escribir, de forma fácil y eficiente, un plan de negocio con un modelo de plan de negocio.
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  • Last Updated: Jun 12, 2023 5:09 PM
  • URL: https://guides.lib.byu.edu/pequenasempresas

How to write a business plan for a spanish restaurant?

spanish restaurant business plan

Putting together a business plan for a spanish restaurant can be daunting - especially if you're creating a business for the first time - but with this comprehensive guide, you'll have the necessary tools to do it confidently.

We will explore why writing one is so important in both starting up and growing an existing spanish restaurant, as well as what should go into making an effective plan - from its structure to content - and what tools can be used to streamline the process and avoid errors.

Without further ado, let us begin!

In this guide:

Why write a business plan for a spanish restaurant?

What information is needed to create a business plan for a spanish restaurant.

  • How do I build a financial forecast for a spanish restaurant?

The written part of a spanish restaurant business plan

  • What tool should I use to write my spanish restaurant business plan?

Being clear on the scope and goals of the document will make it easier to understand its structure and content. So before diving into the actual content of the plan, let's have a quick look at the main reasons why you would want to write a spanish restaurant business plan in the first place.

To have a clear roadmap to grow the business

Small businesses rarely experience a constant and predictable environment. Economic cycles go up and down, while the business landscape is mutating constantly with new regulations, technologies, competitors, and consumer behaviours emerging when we least expect it.

In this dynamic context, it's essential to have a clear roadmap for your spanish restaurant. Otherwise, you are navigating in the dark which is dangerous given that - as a business owner - your capital is at risk.

That's why crafting a well-thought-out business plan is crucial to ensure the long-term success and sustainability of your venture.

To create an effective business plan, you'll need to take a step-by-step approach. First, you'll have to assess your current position (if you're already in business), and then identify where you'd like your spanish restaurant to be in the next three to five years.

Once you have a clear destination for your spanish restaurant, you'll focus on three key areas:

  • Resources: you'll determine the human, equipment, and capital resources needed to reach your goals successfully.
  • Speed: you'll establish the optimal pace at which your business needs to grow if it is to meet its objectives within the desired timeframe.
  • Risks: you'll identify and address potential risks you might encounter along the way.

By going through this process regularly, you'll be able to make informed decisions about resource allocation, paving the way for the long-term success of your business.

To maintain visibility on future cash flows

Businesses can go for years without making a profit, but they go bust as soon as they run out of cash. That's why "cash is king", and maintaining visibility on your spanish restaurant's future cash flows is critical.

How do I do that? That's simple: you need an up-to-date financial forecast.

The good news is that your spanish restaurant business plan already contains a financial forecast (more on that later in this guide), so all you have to do is to keep it up-to-date.

To do this, you need to regularly compare the actual financial performance of your business to what was planned in your financial forecast, and adjust the forecast based on the current trajectory of your business.

Monitoring your spanish restaurant's financial health will enable you to identify potential financial problems (such as an unexpected cash shortfall) early and to put in place corrective measures. It will also allow you to detect and capitalize on potential growth opportunities (higher demand from a given segment of customers for example).

To secure financing

A detailed business plan becomes a crucial tool when seeking financing from banks or investors for your spanish restaurant.

Investing and lending to small businesses are very risky activities given how fragile they are. Therefore, financiers have to take extra precautions before putting their capital at risk.

At a minimum, financiers will want to ensure that you have a clear roadmap and a solid understanding of your future cash flows (like we just explained above). But they will also want to ensure that your business plan fits the risk/reward profile they seek.

This will off-course vary from bank to bank and investor to investor, but as a rule of thumb. Banks will want to see a conservative financial management style (low risk), and they will use the information in your business plan to assess your borrowing capacity — the level of debt they think your business can comfortably handle — and your ability to repay the loan. This evaluation will determine whether they'll provide credit to your spanish restaurant and the terms of the agreement.

Whereas investors will carefully analyze your business plan to gauge the potential return on their investment. Their focus lies on evidence indicating your spanish restaurant's potential for high growth, profitability, and consistent cash flow generation over time.

Now that you recognize the importance of creating a business plan for your spanish restaurant, let's explore what information is required to create a compelling plan.

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Writing a spanish restaurant business plan requires research so that you can project sales, investments and cost accurately in your financial forecast.

In this section, we cover three key pieces of information you should gather before drafting your business plan!

Carrying out market research for a spanish restaurant

Carrying out market research before writing a business plan for a spanish restaurant is essential to ensure that the financial projections are accurate and realistic.

Market research helps you gain insight into your target customer base, competitors, pricing strategies and other key factors which can have an impact on the commercial success of your business.

In particular, it is useful in forecasting revenue as it provides valuable data regarding potential customers’ spending habits and preferences.

You could find that customers may be looking for more vegetarian options on the menu, or they might be interested in trying authentic Spanish dishes. Additionally, your research may reveal that customers could be interested in eating more locally sourced ingredients.

This information can then be used to create more accurate financial projections which will help investors make informed decisions about investing in your spanish restaurant.

Developing the sales and marketing plan for a spanish restaurant

Budgeting sales and marketing expenses is essential before creating a spanish restaurant business plan.

A comprehensive sales and marketing plan should provide an accurate projection of what actions need to be implemented to acquire and retain customers, how many people are needed to carry out these initiatives, and how much needs to be spent on promotions, advertising, and other aspects.

This helps ensure that the right amount of resources is allocated to these activities in order to hit the sales and growth objectives forecasted in your business plan.

The staffing and equipment needs of a spanish restaurant

Whether you are at the beginning stages of your spanish restaurant or expanding its horizons, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is vital to ensure your business's success.

To achieve this, both the recruitment and investment plans must align coherently with the projected timing and level of growth in your forecast. It is essential to secure appropriate funding for these plans.

A Spanish restaurant might incur staffing costs such as wages for chefs, wait staff, and janitorial staff. They might also need to purchase equipment such as kitchen appliances, utensils, and dishes. Additionally, they might need to purchase food and beverage supplies like spices, olive oil, and wine.

To create a financial forecast that accurately represents your business's outlook, remember to factor in other day-to-day operating expenses.

Now that you have all the necessary information, it's time to dive in and start creating your business plan and developing the financial forecast for your spanish restaurant.

What goes into your spanish restaurant's financial forecast?

The objective of the financial forecast of your spanish restaurant's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.

The four key outputs of a financial forecast for a spanish restaurant are:

  • The profit and loss (P&L) statement ,
  • The projected balance sheet ,
  • The cash flow forecast ,
  • And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

The projected P&L statement for a spanish restaurant shows how much revenue and profit your business is expected to make in the future.

example of projected profit and loss statement in a spanish restaurant business plan

A healthy spanish restaurant's P&L statement should show:

  • Sales growing at (minimum) or above (better) inflation
  • Stable (minimum) or expanding (better) profit margins
  • A healthy level of net profitability

This will of course depend on the stage of your business: numbers for a startup will look different than for an established spanish restaurant.

The projected balance sheet of your spanish restaurant

Your spanish restaurant's forecasted balance sheet enables the reader of your plan to assess your financial structure, working capital, and investment policy.

It is composed of three types of elements: assets, liabilities and equity:

  • Assets: represent what the business owns and uses to produce cash flows. It includes resources such as cash, equipment, and accounts receivable (money owed by clients).
  • Liabilities: represent funds advanced to the business by lenders and other creditors. It includes items such as accounts payable (money owed to suppliers), taxes due and loans.
  • Equity: is the combination of what has been invested by the business owners and the cumulative profits and losses generated by the business to date (which are called retained earnings). Equity is a proxy for the value of the owner's stake in the business.

example of forecasted balance sheet in a spanish restaurant business plan

Your spanish restaurant's balance sheet will usually be analyzed in conjunction with the other financial statements included in your forecast.

Two key points of focus will be:

  • Your spanish restaurant's liquidity: does your business have sufficient cash and short-term assets to pay what it owes over the next 12 months?
  • And its solvency: does your business have the capacity to repay its debt over the medium-term?

The cash flow forecast

As we've seen earlier in this guide, monitoring future cash flows is the key to success and the only way of ensuring that your spanish restaurant has enough cash to operate.

As you can expect showing future cash flows is the main role of the cash flow forecast in your spanish restaurant business plan.

example of projected cash flow forecast in a spanish restaurant business plan

It is best practice to organise the cash flow statement by nature in order to show the cash impact of the following areas:

  • Cash flow generated from operations: the operating cash flow shows how much cash is generated or consumed by the business's commercial activities
  • Cash flow from investing activities: the investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.) either to maintain the business's equipment or to expand its capabilities
  • Cash flow from financing activities: the financing cash flow shows how much cash is raised or distributed to financiers

Looking at the cash flow forecast helps you to make sure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

Your spanish restaurant business plan will normally include both yearly and monthly cash flow forecasts so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan - also called a sources and uses table - is an important tool when starting a spanish restaurant.

It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).

initial financing plan in a spanish restaurant business plan

Having this table helps understand what costs are involved in setting up the spanish restaurant, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).

Now that the financial forecast of a spanish restaurant business plan is understood, let's focus on what goes into the written part of the plan.

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The written part of the business plan is where you will explain what your business does and how it operates, what your target market is, whom you compete against, and what strategy you will put in place to seize the commercial opportunity you've identified.

Having this context is key for the reader to form a view on whether or not they believe that your plan is achievable and the numbers in your forecast realistic.

The written part of a spanish restaurant business plan is composed of 7 main sections:

  • The executive summary
  • The presentation of the company
  • The products and services
  • The market analysis
  • The strategy
  • The operations
  • The financial plan

Let's go through the content of each section in more detail!

1. The executive summary

The executive summary, the first section of your spanish restaurant's business plan, serves as an inviting snapshot of your entire plan, leaving readers eager to know more about your business.

To compose an effective executive summary, start with a concise introduction of your business, covering its name, concept, location, history, and unique aspects. Share insights about the services or products you intend to offer and your target customer base.

Subsequently, provide an overview of your spanish restaurant's addressable market, highlighting current trends and potential growth opportunities.

Then, present a summary of critical financial figures, such as projected revenues, profits, and cash flows.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Lastly, address any funding needs in the "ask" section of your executive summary.

2. The presentation of the company

The second section in your spanish restaurant's business plan should focus on the structure and ownership, location, and management team of the company.

The structure and ownership part provides an overview of the legal structure of the business, who the owners are and how much each has invested and owns. If you are seeking financing it is important that the reader gets a clear picture of which legal entity is receiving the funds, and who controls the business.

The location part should give an overview of the premises from which the company is operating, and why that location is of particular interest (catchment area, accessibility, amenities nearby, etc.).

When describing the location of your spanish restaurant, you could emphasize the potential for success in a major metropolitan area. The restaurant could be located in a highly trafficked area with access to a diverse customer base. Additionally, the restaurant could take advantage of the fact that it might be located near local attractions, such as parks, museums, or theaters, that could draw in new customers. Furthermore, you could note the potential for success that could come from the area’s vibrant nightlife or expansive shopping centers. All of these factors could combine to create an ideal environment for your restaurant to thrive.

Finally, you should introduce the management team. Explain each member's role, background, and experience.

It is also important to emphasize any past successes that the members of the management team have achieved, and how long they've been working together, as this will help potential lenders or investors understand why they should trust in their leadership.

3. The products and services section

The products and services section of your spanish restaurant business plan should include a detailed description of what your company sells to its customers. 

For example, your Spanish restaurant might offer tapas, paella, and sangria to its customers. Tapas are small plates of appetizers, such as croquettes or patatas bravas, that are meant to be shared among friends and family. Paella is a traditional Spanish rice dish, typically made with vegetables, seafood, or chicken. Sangria is a popular beverage made from red or white wine, fresh fruit, brandy, and other ingredients. These products will provide customers with an authentic Spanish dining experience.

The reader will want to understand what makes your spanish restaurant unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

4. The market analysis

When outlining your market analysis in the spanish restaurant business plan, it's essential to include comprehensive details about customers' demographics and segmentation, target market, competition, barriers to entry, and relevant regulations.

The primary aim of this section is to give the reader an understanding of the market size and appeal while demonstrating your expertise in the industry.

To begin, delve into the demographics and segmentation subsection, providing an overview of the addressable market for your spanish restaurant, key marketplace trends, and introducing various customer segments and their preferences in terms of purchasing habits and budgets.

Next, shift your focus to the target market subsection, where you can zoom in on the specific customer segments your spanish restaurant targets. Explain how your products and services are tailored to meet the unique needs of these customers.

For example, your target market might include young professionals. This segment is likely to be familiar with Spanish cuisine and has the resources to visit the restaurant frequently. They are also likely to appreciate the cultural elements of a Spanish restaurant and spread the word to their peers.

In the competition subsection, introduce your main competitors and explain what sets your spanish restaurant apart from them.

Finally, round off your market analysis by providing an overview of the main regulations that apply to your spanish restaurant.

5. The strategy section

When writing the strategy section of a business plan for your spanish restaurant, it is essential to include information about your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

The competitive edge subsection should explain what sets your company apart from its competitors. This part is especially key if you are writing the business plan of a startup, as you have to make a name for yourself in the marketplace against established players.

The pricing strategy subsection should demonstrate how you intend to remain profitable while still offering competitive prices to your customers.

The sales & marketing plan should outline how you intend to reach out and acquire new customers, as well as retain existing ones with loyalty programs or special offers. 

The milestones subsection should outline what your company has achieved to date, and its main objectives for the years to come - along with dates so that everyone involved has clear expectations of when progress can be expected.

The risks and mitigants subsection should list the main risks that jeopardize the execution of your plan and explain what measures you have taken to minimize these. This is essential in order for investors or lenders to feel secure in investing in your venture.

Your Spanish restaurant may face a variety of risks. For example, you could face financial risks if customer numbers decline or the cost of ingredients increases. You may also need to manage the risk of potential food safety issues arising from the storage and preparation of food in your restaurant. To reduce these risks you could put in place quality control procedures and ensure that all your staff are properly trained in food hygiene.

6. The operations section

In your business plan, it's also essential to provide a detailed overview of the operations of your spanish restaurant.

Start by covering your team, highlighting key roles and your recruitment plan to support the expected growth. Outline the qualifications and experience required for each role and your intended recruitment methods, whether through job boards, referrals, or headhunters.

Next, clearly state your spanish restaurant's operating hours, allowing the reader to assess staffing levels adequately. Additionally, mention any plans for varying opening times during peak seasons and how you'll handle customer queries outside normal operating hours.

Then, shift your focus to the key assets and intellectual property (IP) necessary for your business. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, make sure to include them in this section.

You may have key assets such as recipes, cooking techniques, and the restaurant's brand. This could be an important part of the restaurant's intellectual property (IP). Additionally, the restaurant could have a particular style of service which could be considered part of its IP. All of these elements might be key to the success of the restaurant.

Lastly, include a list of suppliers you plan to work with, detailing their services and main commercial terms, such as price, payment terms, and contract duration. Investors are interested in understanding why you've chosen specific suppliers, which may be due to higher-quality products or established relationships from previous ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of a spanish restaurant business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my spanish restaurant's business plan?

In this section, we will be reviewing the two main options for writing a spanish restaurant business plan efficiently:

  • Using specialized software,
  • Outsourcing the drafting to the business plan writer.

Using an online business plan software for your spanish restaurant's business plan

Using online business planning software is the most efficient and modern way to create a spanish restaurant business plan.

There are several advantages to using specialized software:

  • You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
  • You are guided through the writing process by detailed instructions and examples for each part of the plan
  • You can access a library of dozens of complete business plan samples and templates for inspiration
  • You get a professional business plan, formatted and ready to be sent to your bank or investors
  • You can easily track your actual financial performance against your financial forecast
  • You can create scenarios to stress test your forecast's main assumptions
  • You can easily update your forecast as time goes by to maintain visibility on future cash flows
  • You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Need a solid financial forecast?

The Business Plan Shop does the maths for you. Simply enter your revenues, costs and investments. Click save and our online tool builds a three-way forecast for you instantly.

Screenshot from The Business Plan Shop's Financial Forecasting Software

Hiring a business plan writer to write your spanish restaurant's business plan

Outsourcing your spanish restaurant business plan to a business plan writer can also be a viable option.

Business plan writers are skilled in creating error-free business plans and accurate financial forecasts. Moreover, hiring a consultant can save you valuable time, allowing you to focus on day-to-day business operations.

However, it's essential to be aware that hiring business plan writers will be expensive, as you're not only paying for their time but also the software they use and their profit margin.

Based on experience, you should budget at least £1.5k ($2.0k) excluding tax for a comprehensive business plan, and more if you require changes after initial discussions with lenders or investors.

Also, exercise caution when seeking investment. Investors prefer their funds to be directed towards business growth rather than spent on consulting fees. Therefore, the amount you spend on business plan writing services and other consulting services should be insignificant compared to the amount raised.

Keep in mind that one drawback is that you usually don't own the business plan itself; you only receive the output, while the actual document is saved in the consultant's business planning software. This can make it challenging to update the document without retaining the consultant's services.

For these reasons, carefully consider outsourcing your spanish restaurant business plan to a business plan writer, weighing the advantages and disadvantages of seeking outside assistance.

Why not create your spanish restaurant's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write a spanish restaurant business plan is a terrible idea.

For starters, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is very technical and requires both a strong grasp of accounting principles and solid skills in financial modelling.

As a result, it is unlikely anyone will trust your numbers unless - like us at The Business Plan Shop - you hold a degree in finance and accounting and have significant financial modelling experience in your past.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the 1990s and early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Also, using software makes it easy to compare actuals vs. forecasts and maintain our forecasts up to date to maintain visibility on future cash flows - as we discussed earlier in this guide - whereas this is a pain to do with a spreadsheet.

That's for the forecast, but what about the written part of my spanish restaurant business plan?

This part is less error-prone, but here also software brings tremendous gains in productivity:

  • Word processors don't include instructions and examples for each part of your business plan
  • Word processors don't update your numbers automatically when they change in your forecast
  • Word processors don't handle the formatting for you

Overall, while Word or Excel may be viable options for creating a spanish restaurant business plan for some entrepreneurs, it is by far not the best or most efficient solution.

  • Using business plan software is a modern and cost-effective way of writing and maintaining business plans.
  • A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows.
  • A business plan has 2 main parts: a financial forecast outlining the funding requirements of your spanish restaurant and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.

We hope that this in-depth guide met your expectations and that you now have a clear understanding of how to write your spanish restaurant business plan. Do not hesitate to contact our friendly team if you have questions additional questions we haven't addressed here.

Also on The Business Plan Shop

  • How to write a business plan to secure a bank loan?
  • Key steps to write a business plan?
  • Top mistakes to avoid in your business plan

Do you know entrepreneurs interested in starting or growing a spanish restaurant? Share this article with them!

Guillaume Le Brouster

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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How to Write a Strong Business Email in Spanish

Do you need to write a business email in Spanish and don’t know where to start?

Writing business emails in Spanish is a daily responsibility when doing business in Spanish-speaking countries or with the huge Spanish-speaking market in the U.S. So, learning to properly write an email in Spanish is a smart investment of your time. 

Keep reading to learn why writing emails in Spanish is an important skill to have, why you should use formal language in your business emails, and to discover the key parts of a business email through examples and explanations. 

Join 559 million people on the planet who speak Spanish! Sign up for your free trial class with us at Homeschool Spanish Academy ➡️

TABLE OF CONTENTS

Why You Need to Learn How to Write an Email in Spanish

Formal and informal language in the workplace, 5 parts of an email in spanish.

  • Don’t Forget Your Signature File
  • Practice Spanish With Native Professionals

If you’re studying Spanish, odds are it’s because you need it for work and you do—or plan to do—business in Spanish. 

Writing a business email in Spanish is arguably more important than writing a formal letter , as these days emails are more common in the workplace. Experts estimate that US workers receive an average of 126 emails per day .

Needless to say, learning how to properly write a formal email in Spanish is an essential skill to master if you do business in Spanish. 

Keep in mind that Spanish has formal and informal language . In the workplace and in most of your business in Spanish, you should use formal language. 

This means that when writing a business email in Spanish, you need to use usted (formal you) and ustedes (formal you all) and conjugate your verbs accordingly. 

It’s rare for business emails in Spanish where to use informal language and conjugate verbs using tú (informal singular you) or vosotros (informal plural you). 

Every email has at least four parts: salutation, message content, closing, and signature. Let’s look at each of these parts of a business email in Spanish in detail.

1. Salutation

Known as saludo in Spanish, this is the brief greeting at the beginning of every email you send. If you want to know how to start a formal email in Spanish, you need to master the different types of saludos formales or “formal greetings” to use in emails.

Here some examples with translations and short explanations when required: 

Estimado Señor González: Dear Mr. González, 

This is perhaps the most common way to start an email in Spanish. Estimado means “dear,” and when used to refer to a woman you need to change it to estimada . 

If you prefer, abbreviate titles in Spanish ( Sr. instead of Señor, for example). Take a look at this useful list of the most common abbreviations in Spanish to learn more. 

Finally, notice how at the end of the saludo , you use a colon (:) instead of the typical comma (,) in English. This happens with every formal greeting at the beginning of emails. 

When you aren’t sure about the person who will be reading your email, start it with the following formula: 

A quien corresponda:  To whom it may concern,

This is the same formula used in formal letters , and it’s useful when you’re starting a business relationship and aren’t sure about who to direct your efforts to. 

2. Message Openers

After the salutation comes a line that’s particularly hard to master. Although this is a formal email, you can’t simply go straight to the point, especially in Spanish where formalities are important. 

A message opener is a show of courtesy before starting to do business. It’s like an extra saludo, which will also serve as a lead for you to explain the reason for the email. 

Here are a few of the most common Spanish message openers: 

Esperando que este correo lo encuentre bien… Hoping that this email finds you well…

Reciba un cordial saludo… Receive my cordial greeting…

Un gusto estar en contacto con usted… A pleasure to be in contact with you…

And then you can go directly into explaining the reason for your email: 

Mi nombre es _____ y le escribo para informarle que… My name is _____ and I’m writing to inform you that…

Le escribo de parte de _____ … I’m writing on behalf of _____ …

Me dirijo a usted con el fin de… I’m writing to you in order to…

Me es muy grato comunicarle… It’s a pleasure to inform you that…

3. Message Content

Known in Spanish as el contenido del mensaje , the message content is the actual reason you’re writing the email. Here is where you communicate your idea—be it a business proposal, a request, a sales follow-up, or any other business-related topic. 

By its nature, the message content is varied, and its form depends on the idea you need to communicate. However, there are a few guidelines to follow when writing the message content in Spanish: 

  • Use a formal tone
  • Avoid exclamation marks
  • Be direct but polite
  • Use classic fonts (Arial, Garamond, Georgia, Times)

Here you have a couple of samples to give you an idea of how to write the main body of your email in Spanish: 

Aprovecho para informarle que su suscripción a nuestro servicio de entrega de medicamentos a domicilio está por expirar el próximo 10 de julio de 2023. Si desea renovar su suscripción, por favor haga click en este enlace. 

“I’d like to inform you that your subscription to our medicine delivery service is about to expire on July 10th, 2023. If you want to renew your subscription, please click on this link.”

A couple of comments about this content. Notice how it keeps the formal tone and uses the formal you ( usted ) conjugation. 

Have you ever wondered if the months are capitalized in Spanish? Well, they aren’t. That’s why julio isn’t capitalized in this example. Same thing happens with days of the week. 

Por este medio, hago de su conocimiento que nuestra línea de productos ecológicos “Verde” se encuentra en promoción por el mes de abril con un 50% de descuento. Puede encontrar todos los productos disponibles en el archivo adjunto a este correo. 

“I’d like to inform you that our ‘ Verde ‘ line of green products is on sale in April at a 50% discount. Please find all the available products in our catalog attached to this email.”   

Formal, direct to the point, and communicating every piece of information you want to communicate. 

An “attachment” in Spanish is called el archivo adjunto.  

To end a business email in Spanish, consider writing both a cordial farewell and a closing phrase. Let’s see how each one of them works.

Cordial Farewell

Translated in Spanish as despedida formal , the cordial farewell is a polite way of saying goodbye once you’ve completed your business message. 

Here are some of the most common cordial farewells in Spanish: 

Sin más por el momento, quedo a la espera de su amable respuesta.  I look forward to your kind response. 

Cualquier cosa estoy a su disposición.  I am available should you need anything. 

De antemano, le agradezco su atención. I thank you in advance for your attention. 

Para cualquier duda al respecto, por favor no dude en contactarme.  For any doubt in this regard, please don’t hesitate to contact me. 

5. Closing Phrases

The frase de cierre (closing phrase) is a short phrase or word. In Spanish, you use a colon where in English you would normally use a comma. Here are the most common closing phrases in Spanish: 

Atentamente:  Sincerely, 

Saludos:   Saludos cordiales, 

Saludos cordiales:  Kind regards, 

Don’t Forget the Signature File

To end an email in Spanish, don’t forget to add your firma corporativa (signature file). Signature files are short text files “ you create for use as a standard appendage at the end of your e-mail notes .”

Most email softwares offer an option to create your own signature file, which usually includes: 

Follow this example as a template to create your own signature file: 

Miguel González

Gerente de Mantenimiento

Productos Ecológicos González

Calle Independencia 231

Monterrey, N.L., México, C.P. 48341

Tel: (+52) 814 238 765

Fax: (+52) 814 239 766

[email protected]

www.productosecologicos.com

Now You’re Ready to Write a Strong Business Email in Spanish

Every business email in Spanish is unique in its message, but they all share the same structure. Follow the template described in this post, and you’ll have the foundation to write a strong business email in Spanish. Just remember to double-check your email before sending it to avoid spelling or grammar mistakes. 

One of the many benefits of speaking Spanish is that it opens the door to better jobs , where you will surely need to write business emails on a daily basis.  Sign up today for a free trial class at Homeschool Spanish Academy with one of our certified, native-speaking teachers from Guatemala. They teach over 24,000 actively enrolled students every month and offer flexible scheduling and tailored Spanish programs .

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Entrepreneur Visa Spain 2024

The Entrepreneur Residence Visa in Spain is a remarkable opportunity tailored for foreign individuals set to embark on innovative entrepreneurial endeavors that promise special economic significance for Spain. In this article, we delve into a comprehensive exploration of this distinctive visa category, covering a wide array of essential topics, including:

  • Eligibility criteria and prerequisites
  • Application process and required documentation
  • Benefits and advantages of the Entrepreneur Residence Visa
  • Navigating the Spanish immigration landscape with our specialized legal support

At our distinguished immigration law firm, we specialize in assisting entrepreneurs in realizing their ambitions in Spain, ensuring a smooth and legally compliant transition to embark on their entrepreneurial journey.

What is the entrepreneur visa?

An entrepreneur visa or Start Up visa, is a newly created visa in Spain. This kind of visa allows foreigners to come to Spain and start an emerging business here . Applicants normally have to meet different criteria than those applying for a traditional visa for entrepreneurs. In some countries it even allows the directors of such new companies to live and work in the country, as long as they carry out their own independent activity.

It is a more restrictive type of visa than a common work visa that aims to regulate some aspects, such as social security for foreign citizens and reduce irregular immigration .

In several developed countries, there is a growing interest in attracting highly skilled immigrants who can bring knowledge and create jobs in the local economy. However, with the exception of the United States, entrepreneurs do not receive the same immigration treatment due to the availability of point-based visa systems and/or the absence of ownership restrictions on work visas where the individual sponsors himself with venture capital.

In the case of entrepreneurs, entrepreneurial activity is understood as that which is innovative in nature with a special interest to Spain and can count on a favourable report from the Commercial Office where the investor presents the application for the visa .

entrepreneur VISA requirements

In spite of the advantages offered by the Startup Visa , the Government of Spain demands that the following minimum requirements are met:

  • Not to be found irregularly on Spanish soil ;
  • Be over 18 years of age ;
  • Have no criminal record in Spain nor in the countries where you have resided in the last 5 years;
  • Not to be included as rejectable in the territorial space of countries with which Spain has signed an agreement to this effect;
  • To have a public insurance or a private health insurance ;
  • Have sufficient economic resources for themselves and their family members during their period of residence in Spain (2400,00 euros per month for the interested party and 600 euros for each dependent family member ) and;
  • Pay the Entrepreneur or startup visa fee.

Submitting the Documents for the Entrepreneur Visa Application

You can’t start your application unless you’re the following conditions are fulfilled. What are the basic papers that you need to submit?

  • Application Form: A clear paper specifying that you would like to apply for an entrepreneur’s visa or a residence permit. The type varies, as we have seen before, based on one of the two directions you pursue. In this post, you will find certain documents attached in their particular pages.
  • Copy of your passport.
  • Evidence that the corresponding invoice has been paid .
  • Proof that you comply with all the requisite requirements : that you have reasonable economic means, social welfare, etc.
  • Business Plan for your Company . You will need to apply your business plan in which you detail your operation carefully and how it will help the Spanish economy . As we have already stated, the focus in this document must be put on job creation, creativity and the positive effect of the country’s socio-economic development. It needs to be transmitted to the Commercial Office.
  • Favourable Report . Your proposal would be deemed to be of economic importance to Spain if the business plan is accepted by the Commercial Office . In order to get your startup visa , you will then have green light to submit your clearance document to the corresponding Immigration Office.

The Business Plan for the Entrepreneur Visa

Entrepreneur visa spain

You have to write a business plan to secure a Spanish entrepreneur’s visa. The Spanish Government demands that the following outline be used: Spanish Business Plan Outline Outline .

Before it is accepted, the business proposal must be considered of economic importance to Spain , that is:

  • A large number of new jobs are being generated in Spain.
  • It is a field of strategic significance to Spain . There are: ICT, green energy, the atmosphere, water and water treatment , health sciences, biotechnology and aeronautics / aerospace.

The BUSINESS strategy must involve:

  • The CV of the entrepreneur and potential role in the organisation.
  • A overview of the project , including: the expected start date, the location, the legal framework of the project, the market, the economic effect of the investment, the approximate number and type of jobs that it would generate.
  • Definition of the supplied good or service, stressing what makes it creative.
  • Business research , including market size, prospects for growth and possible competitors.
  • Detailed schedule for publicity.
  • Investment is needed to start the venture.
  • Detailed financial statements: balance sheet, cash flow over three years and expectations over profit and loss (P&L).

If you want to know the details involved in creating a business, read our guide creating a business in Spain as a foreginner .

Benefits and advantages of the Startup Visa in Spain

here are some benefits and advantages of the Entrepreneur Residence Visa:

  • Legal Residency : The Entrepreneur Residence Visa grants legal residency in Spain, allowing entrepreneurs to reside in the country while they pursue their innovative business projects.
  • Path to Permanent Residency : After successfully running their business for a certain period, visa holders can apply for permanent residency, offering long-term stability in Spain.
  • Ease of Travel : Visa holders can freely travel within the Schengen Area, which comprises 26 European countries, making it convenient for business and leisure.
  • Access to the European Market : Spain’s strategic location provides access to the European market, creating opportunities for expansion and growth.
  • Innovative Business Ventures : The visa is designed for entrepreneurs with innovative business ideas, encouraging creativity and economic growth.
  • Job Creation : Entrepreneurs are encouraged to create employment opportunities for Spanish citizens, contributing to the local economy.
  • Family Reunification : The visa allows for family reunification, so entrepreneurs can bring their immediate family members to Spain.
  • Quality of Life : Spain offers an exceptional quality of life, with a pleasant climate, rich culture, and a diverse lifestyle.
  • Educational Opportunities : Entrepreneurs and their families can access quality education in Spain, including international schools and universities.
  • Expert Legal Support : Partnering with an immigration law firm like MySpanishResidency.com ensures expert legal guidance throughout the visa application process, simplifying the journey for entrepreneurs.

How to renew the Spanish Entrepreneur Visa?

Basically, you would also need to follow all the conditions you faced for the original application in order to renew your business set-up visa. Basically , this means that your project is already developing the Spanish economy and promoting the creation of new jobs. If your company has a strong forecast, it will quickly renew your entrepreneur visa. The extension of the Entrepreneur Visa would allow you to continue for two additional years in the country lawfully.

Does the family of the applicant can take advantage of the entrepreneur visa?

It is important to point out that the  possibility of processing the residence visa is extended to the spouse and to children under 18 years of age , or adults who are not able to provide for their own needs due to their state of health, when they join or accompany the applicants. Consequently,  they may jointly and simultaneously or successively apply for a family residence visa , subject to proof of compliance with the requirements set out above.

Does the applicant need to be present for the application?

The  presence of the visa applicant is not required,  they may apply for and collect the residence visa through duly accredited representatives.

How much time does it take to process the entrepreneur visa?

Even the ICEX (a division of the Spanish Ministry of Economy and Competitiveness) claims that the process takes about 20 days, our experience tells us that normally the process lasts up to 30 working days.

What should I include in my business plan?

In order to have more chances of success when applying for the entrepreneur visa, you need to prove that there is a genuine commercial demand for your project to thrive, that the good  or service you want to offer will be reasonably valuable for your target buyers, and that you have identified clear sources of funding. To have your organisation running successfully, you must include a  financial forecast with the specific sources of funding you will receive.

If you need help with the general application for the entrepreneur visa , renewal, or even with the creation of your business plan (so that it matches the interest of the Commercial Office), do not hesitate to leave a comment . We will be glad to answer any question!

22 thoughts on “Entrepreneur Visa Spain 2024”

Hi me and my partner are interested in starting a business here in Spain, we came over to veiw commercial properties, and we have seen one we like in Alicante however we are from the U.K. and know that after brexit we might not be able to? Is this entrepreneur visa available, it is a health and well being center including yoga, reiki, meditation, crystal healing etc, I worked in mental health as a nursing assistant for 2 years and this is something I now want to do to help with the mental health of as many people as I can, we have both sold property so we have a bit of money behind us to start it I am just wondering how we would go about it and can we apply while we are here in Spain Thanks

Hi Stephanie,

one of our lawyers should be in contact with you shortly for your questions for the entrepreneur visa Spain.

Hi, I am looking to write the business plan for my visa application for Spain. Can someone help me with the proper template that will satisfy what they are looking for???

one of our lawyers should be in contact with you shortly for your questions about entrepreneur visa.

Hi Please may I get some help to apply for the entrepreneurial visa to Spain. I am from South Africa and have a digital business in Africa. I am a digital nomad and fulfill the requirements: 1. highly qualified with a Masters degree and PhD 2. it’s a digital business so uses ICT and human behavioural science in the products 3. I have the economic means 4. I have a business plan 5. It can generate jobs within Spain thank you

Hi Gizelle,

Kind regards

Hello we are interested in moving to a property in Spain which includes 5 acres of land mostly with almond trees and an 6-8bed house would we be able to turn something like this into a camping site with air b&b

One of our lawyers will help you to obtain entrepreneur visa in Spain.

Hi, I would like to start preparing to move to Spain next year and run a B&B in cordoba/Granada. Would this entitle me to apply for an entrepreneur visa? Many thanks Julie

Dear Julie,

one of our lawyers should be in contact with your questions about the entrepreneur visa in spain

for the entrepreneurial visa, what if you are looking to invest in (33%) and take a large stake in start up, does that count?

Dear Jason,

one of our lawyers should be in contact with your questions about the Entrepreneur visa in Spain.

I am interested in being contacted by one of your lawyers to understand the entrepreneur visa in Spain.

one of our lawyers should be in contact with your questions about Entrepreneur visa in Spain

Hi, how long could my family & I stay for if the entrepreneural visa is granted? Can we buy a house in Spain if visa granted? What is the tax system in Spain? What level of income do we hit higher tax rates and what are these rates?

NICE INFORMATION

If you have any doubts, do not hesitate to send us an email and we will advise you on the whole process of your entrepreneurial visa and all the requirements to obtain it.

I have a startup idea that can bea next big company and i need a proper guidance and counseling

one of our lawyers should be in contact with your questions about entrepreneur visa spain

Hello, I recently applied for an entrepreneur visa in Spain. They denied my application because I have a DUI from 2006. I was approved in 2021 for the same visa. Are there new rules regarding background checks for 2023?

One of our lawyers will contact you to explain the whole process.

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Business Plan For Your Immigration Procedure (for Entrepreneur Visa & Work Permit)

by balcellsg | business , Immigration

business plan immigration

If you want to start your own business in Spain you will need to create a business plan. And that is a fundamental and key document, as it is something that the administration carefully analyses before deciding whether or not to grant you a work permit. Therefore, in this article we will give you all the advice you need about the business plan for your immigration application . From what it is and how it is written to what exactly you should include.

What is a business plan?

As an entrepreneur or individual who wants to start his own business, ideas are not enough . You need something else to anchor that group of wandering thoughts. Hence, a business plan is the document that helps you put that business idea on paper so that it comes a little closer to a workable reality .

In other words, beyond being a document, it is a very useful tool to organize your business idea through the different parts or fundamental pillars that are required for it to be successful.

Although it is true that there are many types of plans, those needed to formalize your immigration application in Spain are not very complex.

That is, you won’t need a technical business plan to get your work permit , although perhaps in order to succeed with your business project it may be a good idea to design a more advanced document.

That is why we recommend that you read this article carefully first to know exactly what you should include, and then assess whether to take it further and make it more complete.

Which immigration procedures or permits in Spain require a business plan?

As you already know, it is an essential requirement to present a business plan when applying for any kind of work residency in the Spanish territory to develop your own business activity.

Thus, and more precisely, the immigration procedures that require one are:

  • The entrepreneur’s visa
  • Self-employed work permit (application from your home country)
  • Residency modification from residence authorization to initial work and residence authorization
  • Modification of stay for study purposes to work permit as a self-employed individual
  • Residence permit to find a job and to then start your business activity
  • Modification from non-profit residence to initial residence as a self-employed

In general terms, they all require a similar structure with common elements, as we will see below. However, it will be in the first case (entrepreneur visa) where this document becomes even more important and requires you to include extra sections.

What should it include? Key elements

What’s next is a list of sections and specific elements that you must include in your business plan in order to successfully obtain your residence permit .

Overall, you will have to prepare a business profile, gathering all your relevant personal documents with which you try to convince the public administration that your business is attractive to the country; therefore requiring that you are granted a work permit so that you can develop it in Spain.

Let’s see what those key points are in greater detail.

Characteristics of the business project

You can view this section as a small introduction to your business idea .

Basically, you will need exactly define what the business is about, how the services will be provided or the product sold, personal motivations for undertaking this venture, etc.

That is, an overview of what, how, and why.

Just in case you are a bit lost here, you can access our article with 25 business ideas you can start today in Spain .

People in charge of the project (team)

Here you should talk about who will be in charge of the business , whether that is you as an individual entrepreneur (alone), or the other founding partners if you will set up the company jointly with someone else.

Who will develop the activity? Which tasks and responsibilities will everyone have?

Academic background

This section aims to demonstrate that the founders or the individual in charge of the project have the necessary qualifications and experience to successfully take the project forward and thrive with it.

You should talk about your professional career and attach your CV (both yours and the one from your business partners if there are any), in which you highlight the experience or academic training related to the business you intend to develop in Spain.

But what do you do if you do not have sufficient experience and academic qualifications to validate that you are capable of successfully undertaking such a business? We propose 3 solutions, because if that is the case, your application will probably get rejected:

1. Look for experienced partners. If you had the idea to start a business individually but you lack the necessary knowledge, it would be a very good option to look for another partner who does have that know-how.

2. Do related training, like enrolling in a master’s degree.

3. Mold and change the business idea by iterating to your field of knowledge (there where you have experience).

Analysis of the product or service

The next step is to perform an in-depth analysis of the products or services you will bring to the market as a self-employed worker.

This also includes who the end consumer is and the characteristics of the value proposition you provide to them through your offer.

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Execution and logistics

How will you carry out your business idea on a day-to-day basis? What are the internal processes and operations necessary to function normally? This is what you need to answer throughout this section.

You must detail, for example, if you will have an office or operate from home, if you will rent a local and if you need a license for it, how you will ship your products to the customer in case you sell online, how you will get in touch with your customers, etc.

Market analysis

There is no point in marketing a new product or service without a little context.

Here you must identify the main competitors and carry out an analysis of the specific geographical area in which the services will be offered, pointing out possible opportunities and how your business fits into the current market trends.

Commercial plan

Basically here you must answer the question: how will you do it to attract demand and market your products?

The answer, therefore, includes your marketing and sales strategy . This can include the use of search engine optimization (SEO), social networks, affiliate programs, etc. Whatever your use for attracting customers should be detailed.

If you need to subcontract or hire professionals to develop, for example, your brand image, you would include that here as well.

Business structure

How will the company be organized? Which would be the company type? Will anyone else besides you work there? What exactly will each of these workers do? This is what’s known as an organization chart, and you should create your own one.

Initial investment

Any business needs a minimum of initial capital to finance its first fixed and operational costs. How much will it be in your case? Under what concepts?

In this section you must define the capital you will need, as a minimum, to get the business up and running in the first place .

In other words, demonstrate to the administration that you have sufficient materials or equipment to start the business. We recommend that you keep the expense invoices of any equipment you have purchased that is somehow related to your business. We are talking about mobile phones, laptops, etc.

(Planned) Financing

What will be your external channels of funding? If you are going to ask for a loan, you will need to detail the amount and the entity that will grant it to you.

Forecasted business results and profitability

This is undoubtedly one of the most important sections, as it will be used largely to determine the viability of the proposed business.

You should include a 3-year projection of the expected economic results (income and expenses).

Try not to underestimate the costs you expect to have or to establish unrealistic income levels, especially because during the first year that is something complex to achieve.

Finally, the last section. In the annexes, you must include all the documents that you have mentioned and that validate and verify each previous point. We are talking about binding documents such as:

  • Copy of your academic titles
  • Copy of the rental agreement in case you have one for your activity
  • Copy of your company’s public deed in case you are an S.L.
  • Registration as a self-employed person if applicable
  • Bank certificate with the investment required to start an activity

Business Plan for the Entrepreneur’s Visa

We have created a specific section for this type of business plan because it has certain peculiarities.

The business plan for the entrepreneur visa requires extra and additional sections to those discussed so far (which work well for a general business idea under a self-employment permit). The entrepreneur business plan requires certain questions to be answered and proven with attached documentation.  

While, in the previous case, any business idea (broadly speaking) would work, in this case, it must be justified as highly innovative with a high degree of technology in its operations.

Furthermore, there are two main sections: innovation  and  scalability . Keep reading to find out what these sections entail. 

For the “Innovative” section of the entrepreneur business plan, you must first see if your business checks out any of these five points:  

  • You have received financial support or government help for your research or innovative projects in the past 3 years. If you took a loan, make sure you have a signed contract
  • You’ve either won or come close to winning an award for your startup on a local level
  • There is an existing detailed report from the Ministry of Science and Innovation that supports your case, from within the last 3 years
  • You’ve received Social Security bonuses for your research team in the past year
  • You have the Small and Medium-sized Enterprise (SME) Innovative Seal or the Young Innovative Company certification from AENOR

If your business idea does not check any of these things, then you need to prove innovation through one or more of the following criteria with necessary documents:  

Development or use of patents  

Patents that are at least requested will be considered. Those that are owned by the company or that the company has the right to use and/or capacity to develop will also be considered. Keep in mind that patents must be directly linked to business development.  

Use of proprietary technology

Expenses related to research, development, and technological innovation will be considered when looking at a company’s total spending over the past two years, or just the past year if the company is less than two years old.  

Differentiation in the company’s processes

Putting in place a better way of making or delivering things in a specific area or industry. This often means making big changes in how you do things, like using new tools or software. It can also mean making smaller improvements that help you produce more or provide better services.

Differentiation of the product or services

Bringing new or much better products or services to a certain area or industry. This could mean changing important technical stuff like what it’s made of or adding new software features.

Differentiation in the business model

A marketing plan that aims to show why your product is special and different in the market, giving you a significant edge over your competitors in a specific area or industry.

Scalability

The next main section would be “Scalability.” This section should elaborate on the demand of your product, how it’s affected by economic ups and downs, how hard it is for new suppliers to join the market, how many competitors are out there, and other things that will help authorities determine if the market is a good place for your company.

These are measured by the company’s profitability, as it allows for greater tax levies through the payment of corporate tax . This is why the section on projected income and expenditures will be so important.

For the first area of the “Scalability” section, degree of market attractiveness , you will have to expound on four important points:  

  • Analysis of Product or Service Demand : Identification of market potential, meaning if people really want your product and if it could do well in the market
  • Existing Barriers to Entry : Identification of what’s stopping new companies from entering the market, such as tech challenges, loyal customers to other products, rules, patents, or high starting costs
  • Level of Competition : Explanation of how many other companies are in the market you want to get into
  • Scalability of its products or services : Justification of how your company can grow exponentially without needing to spend way more resources

In the second area, the company’s life stage , you will need to expound on the status of the company’s products and services .

Moreover, if you have started marketing your products and/or services, you will have to fill out a table including: the name of product or service, the commercialization start date, and a description.  

In the third area, the business model , you will have to elaborate on:  

  • Description of the company’s activity : Include a description of your products or services and the revenue model (how they are materialized
  • Company background : A brief history of the company since its incorporation, detailing the main milestones and important changes  
  • Objective of the investment : Explanation of the company’s financial needs, how much it will cost, how you’ll get that money, how many jobs it will create, and when you plan to start and finish the project
  • Detail of the foreseen investments : A break down your budget for buying things such as equipment and software. Mention how much goes to running the business day-to-day and how much goes to other expenses  
  • Qualification of planned investments : An outline of how much money you plan to invest over the next 18-24 months. This should match what you mentioned earlier. Also describe where the money is coming from for your company in the next 18-24 months. Explain if partners will put in more money or if your business will generate enough cash

In the fourth area, competition , you need to outline the advantages and disadvantages of competing companies with respect to the company, their strengths and weaknesses and the characteristics of their products and services compared to those of the company.

You will need to indicate: the name of direct competitor(s), estimated market share(s), and differences from your company.  

In the fifth area, the management team , you will need to demonstrate that your team has valid and valuable experience in their positions and responsibilities.

You will also need to describe what kind of staff you will hire in the future. In the sixth area, partners and shareholders , you need to talk about the founding partners’ years of experience in other companies, and what future partners and shareholders would like.

Lastly, you will also have to expound on your suppliers .  

How to include it in your immigration application

As we have mentioned, in your application for the entrepreneur’s visa or work permit you must attach the business plan, and it is a fundamental requirement.

But how to do it exactly?

First of all, once it has been drawn up, you must send it to any of the associations registered and operative for these purposes, such as the  ATA (Asociación de Trabajadores Autónomos , so that they can certify the viability of the project.

The rest of the associations you can reach out to are:

  • Unión de Profesionales y Trabajadores Autónomos (UPTA)
  • Confederación Intersectorial de Autónomos del Estado Español (CIAE)
  • Organización de Profesionales y Autónomos (OPA)
  • Unión de Asociaciones de Trabajadores Autónomos y Emprendedores (UATAE)

These institutions assess the viability of the project, taking into account the market and competitors, the financial projection, your ability according to your experience and knowledge, and other economic factors.

In short, they will assess the profitability of the business over the long run .

If they give their green light and approve the viability of the project, they will issue a document of acceptance, which you must present at the immigration office .

Business plan creation help

So far we have seen all the most important elements and considerations when preparing this document.

However, given its crucial relevancy in your application for a residence permit, crafting it fastly and with a generic tone is not an option.

That is why our recommendation is that you let an expert help you create it .

At Balcells Group we have a department of economists specialized in business plan creation. Our lawyers, who have helped hundreds of clients in the same situation, know exactly what to include and how to do it to create a successful plan.

Hence, you just need to contact us, briefly describe what your business idea is about, and we will take care of the rest:

Book a consultation with one of our lawyers and solve all your doubts:

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