The Business Plan

General Information

Business Services:

Starting a Business

Buying a Business

Selling a Business

Custom Contracts

Annual Records Service

Litigation (i.e. Lawsuits):

Being Sued / Suing

Collecting a Debt

Getting Paid Bulletin

Small Claims Guide

Other Issues of Interest:

Identity Theft

Wills, Trusts, P.O.A.s

Traffic Offenses

Real Estate

The Business Plan:

The importance of a business plan cannot be overstated.

Although experienced and successful business owners and entrepreneurs intuitively evaluate the main points of a business plan, assembling and preparing the plan accomplishes a necessary step - that of thinking through the issues that will develop in the future.

Take the time to write the plan down, even if you already know it in your head. If you follow through with starting your business, the business plan will become a road map for the baby years of the business and a compass for the occasional "fork in the road".

The business plan also helps keep the business disciplined and is essential if any outside financing is needed. Small businesses are inundated with suppliers trying to sell anything from promotional pens to bottled water. The business plan will help keep spending on track. And, lenders and private investors often require business plans during the application process.

It is a time consuming step, but well worth it!

Things to Include in Your Business Plan:

1. A general company description.

a. Mission Statement / Business Philosophy

b. Goals & Objectives

c. Legal form of ownership

2. A detailed description of the company's products / services.

3. A marketing plan.

a. Detailed evaluation of current market.

i. General industry.

ii. Local market where business will compete.

b. Detailed evaluation of direct competitors.

c. Evaluation of indirect competitors.

d. Marketing strategy.

e. Future market changes.

4. Operational Plan.

a. Operational requirements and duties.

b. Regulatory review and requirements.

c. Employees.

d. Inventory control.

e. Quality control.

f. Customer service.

g. Suppliers.

5. Management and organization.

a. Day-to-Day Operations.

b. The "Big Picture" manager.

c. Outside support services.

i. Attorney

ii. Accountant

iii. Insurance Agent

iv. Banking

6. Financial records and projections.

a. Purchase price and amount and form of financing requested.

b. Existing and projected profit and loss.

i. Last 2-5 years.

ii. First 12-months of operations.

c. Crosscheck of profit and loss figures with industry standards.

d. Financial ratios.

e. Break-even calculation.

f. First 12-months of operations cash flow projections.

g. Projected balance sheet.

h. Startup expenses.

At the start of the business plan, an executive summary of the fundamentals of the proposed business and the type of loan requested is often helpful. The executive summary should be only a few paragraphs long and touch on the main issues:

· What is the business? What will its product or service be?

· Who are the business' customers? Who will it serve?

· Where will the business be located? Where will its customers be located?

· Why will this business be successful? What does the future hold for the business and industry?

· How will the business succeed?

· When will it be started or acquired?

Sample Business Plans:

Our Forms (Coming soon).
Score
Microsoft