Paul has decided to start a musical venue that also includes a restaurant and an art gallery. His brother suggested he talk to a consultant to develop his business plan. What should Paul look for when searching? What issues should be determined before the consultant is hired?
What will be an ideal response?
Paul should look for consultants who are knowledgeable in developing business plans. They need to have a history in completing business plans. The consultant would ideally have expertise in retail as the operation has three areas (food, music, art) all with separate needs. Paul would want to feel comfortable working with the consultant and that the individual could work with others on his team (i.e. his designer, contractor, and other sources of assistance such as his CPA, banker, and/or lawyer) if needed.
Issues to be determined before hiring the consultant would include exactly what assistance will be provided and at what cost. A contract should be written and signed so that all parties know what is expected and how the business plan will be completed.
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