What you need to know about
A Business Plan is a written statement specifying the goals of a business and describing how these goals are to be attained.
- Starting a new business.
- Revising business strategies that fail to address operational issues.
Building a new business can be a huge undertaking, and detailed business plans helps new companies attract capital and organize operations. Business plans are very important documents, and they must be well-organized, thoughtful and complete. If you need to form a business plan for your new undertaking, use this step-by-step guide to help you create a document that works for you.
Unlike Articles of Incorporation and other types of more formal corporate documents, business plans do not have to take a specific form or include particular information in order to be effective. Rather, business plans are meant to be decision-making tools, so entrepreneurs and managers craft the content and format of the plan in a manner that is most suitable to achieving overall business goals.
Preparing an effective business plan involves a wide range of skills and depth of knowledge. Because this is a document designed to help guide the direction of a business as a whole, it should address business activity pertaining to finances, human resources, real and intellectual property, supply chain management, marketing, and anything else critical to business operations.
This form allows businesspeople to create customized business plans that address all of the potentially complex and nuanced issues that should be included in a long-term plan. This is also a helpful tool for individuals seeking to rewrite an existing business plan, as best practices call for review and revision of business plans every 3-5 years. If you need to draft or update your business plan, use this interactive form to help you through the process.
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The purpose of this business plan is to raise $_______________ for the development of _________________.
__________________ (the “Company”) is a start-up in the field of _______________ whose primary service entails:
1.1 Products and Services
The primary revenue center will come from:
The Section Three of the business plan will further describe the services offered by the Company.
1.2 The Financing
The Company is seeking to raise $_______. This business plan assumes that the business will receive a _________ year loan with a _____% fixed interest rate. The financing will be used for the following: • Setup up of designated offices • Website development and marketing • Upgrade technical infrastructure and security of website and satellite users • Working capital.
1.3 Mission Statement
The Company’s mission is to become a recognized leader in its targeted market by offering premier services in __________.
1.4 Management Team
The Company is comprised of persons with a collective of more than ______ years of experience in the industry.
1.5 Sales Forecasts
The Company expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years.
COMPANY AND FINANCING SUMMARY
2.1 Registered Name and Corporate Structure
The Company is a duly formed corporation organized in the state of _____________.
2.2 Required Funds
At this time, the Company requires $__________ of equity. Below is a breakdown of how these funds will be used:
PRODUCTS AND SERVICES
Detailed descriptions of specific duties are attached hereto as Exhibit A. The list of services will expand as additional persons are added to the team.
As discussed in the Executive Summary, the Company will provide:
The following will comprise employees the Company intends to hire (comprise independent contractors the Company intends to engage):
STRATEGIC AND MARKET ANALYSIS
This section of the analysis will detail the economic climate, the industry, the customer profile, and the competition that the business will face as it progresses through its business operations.
4.1 Economic Outlook
Presently, the economic climate:
4.2 Industry Analysis
Statistics on the industry provide that:
4.3 Customer Profile
The Company’s average client will be:
4.4 Competitive Analysis
While there is competition nationally, the competition locally (regionally):
The Company intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of the Company.
5.1 Marketing Objectives
Marketing Objectives include:
5.2 Marketing Strategies
The Company intends to initiate an aggressive marketing plan the _____ months of operation initially interacting with the specified demographics described in the business plan within the target market. These strategies include traditional print advertisements and internet-based marketing.
- Underlying Assumptions
- The Company will have an annual revenue growth rate of _____% per year.
- The Company will acquire $_________ of debt funds to further develop the business.
- Financing options will include a loan with ______ year term with a ____% interest rate
- Source of Funds
- Profit and Loss Statements
- Cash Flow Analysis
- Balance Sheet
Business Plan Checklist
Make It Legal™
Find out next steps for your document.
___Review Carefully. Look over the document carefully to ensure it matches your intentions. ___Distribute Copies. Fully executed copy of this document should be maintained in the Corporation Record Book. This plan will be shared with partners and potential investors.
Disclaimer: It is strongly advised to have your document reviewed or advised on by an attorney. To speak with a lawyer about this document or any other legal need, please visit LawTrades.com.
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