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Business Plan
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Section 1: The Business
Profile
|
Description of My Business
(Session 1):
Describe your product or service.
|
Targeted Market and Customers
(Session 1):
Describe your customer profile and why customers want or need your
product or service.
|
Growth Trends In This Business
(Session 1):
Is the market for your product or service growing or shrinking?
|
Pricing Power
(Session 1):
Explain the unique qualities or circumstances concerning your product
or service that will enable you to maintain profitable pricing.
|
Section 2: The Vision and
the People
|
The People
|
Work Experience Related to My Intended Business
|
Personal Background and Education Credentials
|
Section 3: Home
Based Business Issues
|
1.
Factors
in Selecting the Business
(Session 3): Describe your considerations for selecting your home business and list: 1. Your experience in the business 2. Why appropriate for home based 3. Your utilization of Internet and communications tools 4. Home based zoning and licensing required 5. Your competition |
2.
The
Home Based Business Format
(Session 3): Describe if the business is part-time (moonlighting) or full time. 1. If a full time business describe your preparations before quitting your job
(see check list in session)
|
3.
Conflict
of interest management
(Session 3): If business is part-time describe your conflict of interest policy and compartmentalization of job and business. |
4.
Operating
personnel
(Session 3: Describe the personnel who will be involved in operating the business including any family members. Describe participation and responsibilities. |
Section 4:
Financing
|
Financing Strategy
(Session 4):
Provide a chart or spreadsheet showing all of the sources of your start-up
capital. Explain any government
assistance or loan guarantee programs you intend to apply for.
If your business is for use with potential lenders,
include a cash flow projection and projected income statements to show
sources of repayment of loans. Be
conservative in your forecasts.
List your sources of referrals to lending
institutions. (Your accountant, etc.)
|
Section 5:
Organization
|
Business Organization
(Session 5):
Explain the form of business organization you intend to use and why it
is best for your business.
|
Professional Consultants
(Session 5):
List the names of your lawyer, accountant, insurance agent and any
other professionals.
|
Licenses
(Session 5):
List what licenses you will require to go into business.
|
Section 6: Licenses,
Permits and Business Names
|
Due
Diligence Procedures for Licenses, Permits and Business Names (Session 6):
List the following:
DBA:
List the name
you intend to do business as
Zoning:
Indicate if
the zoning if appropriate for your intended office location
Licenses:
List the
appropriate licenses you will need at the local, state, and federal level
Local:
State:
Federal:
Trademark:
Indicate your
trademark intentions if any exist
Sellers
Permit: List any sellers permits that
you may need
EIN:
Indicate if
you will obtain an employers identification number
|
Section 7: Insurance
|
Insurance
(Session 7):
List the forms of insurance coverage including costs are anticipated.
|
Section 8:
Communications
|
Computer and Communications Tools
(Session 8):
Furnish a tabulation of each piece of equipment you intend to use
including a description and the budget for each. You can use the following as a guide.
Resource Requirements:
Communications
Enter a description
and budget of all communications equipment.
Telephones
Enter a description
and budget for all telephone equipment.
Pagers
Enter a description and
budget for pagers.
Facsimile
Enter a description
and budget for all fax equipment.
Computers
Enter a description
and budget for all computer equipment.
Internet
Enter a description
and budget for necessary Internet access and providers.
|
Section 9:
Acquisitions
|
Due Diligence Procedures for Acquisitions
(Session 9):
List the following:
Your consulting team: Attorney, accountant, banker, broker, etc.
Verification of seller’s revenues: how you plan to authenticate.
Sellers records to be inspected: Financial statements, income tax returns,
sales backlog, cash deposit records, utility bills, accounts payable and
receivable, backlog, financial comparisons of similar businesses, etc.
Inspections and approval of leases and contracts.
Appraisals, as appropriate.
If a franchise, interview with randomly selected
franchisees.
Finance plan for acquisitions: include sources including seller financing.
Market conditions.
Value of goodwill.
Method of purchase:
stock, assets, etc.
|
Section 10:
Premises
|
Location Criteria
(Session 10):
Outline your location criteria.
|
Section 11:
Accounting and Cash Flow
|
Accounting
(Session 11):
Furnish, as a separate exhibit of your starting balance sheet and
projected income statements for the first six months to one year.
|
Cash Flow Planning
(Session 11):
Provide a separate exhibit of your one year cash flow analysis
including estimated sales, all costs and capital investments.
Provide a checklist of all expense items for input
into your cash flow projection.
|
Analysis of Costs
(Session 11):
What are all of my costs:
fixed, variable, product, delivery, etc.
|
Internal Controls
(Session 11):
Explain your: Intended internal
controls and cash controls, check signing policy, strategy for controlling
shrinkage and dishonesty and control of incoming merchandise.
|
Section 12:
E-Commerce
|
E-Commerce Plans
(Session 12):
Describe in detail how you plan to use the Internet in marketing your
product or service.
|
E-Commerce Budgeting
(Session 12):
Provide a detailed breakdown of the costs involved in creating,
operating and maintaining your e-commerce activities.
|
E-Commerce Competition
(Session 12):
Describe how your best competitors utilize e-commerce and your
strategy to improve on their practices.
|
Section 13:
Marketing
|
Marketing Plan
(Session 13):
Describe your overall marketing and sales strategy including how you
plan to get and retain customers.
|
Advertising and Promotion Plans
(Session 13):
Describe your plans and budgets for advertising and promotions.
|
Purchasing and Inventory Control
(Session 13):
See “how to buy” checklist.
|
Training Policies
(Session 13):
Describe your plans for hiring and training your sales associates.
|
The Competition
(Session 13):
Describe your strongest competitors and how you intend to compete.
|
How I Plan to Take Advantage of Competitors Weak Points
(Session 13):
List your competitor's shortcomings and how you can capitalize on
them.
|
Section 14: Managing
Employees
|
(Session
14): Describe the services to be provided by your Payroll Service Provider and
identify the provider.
|
(Session
14): Include copies of job descriptions for all employees you intend to hire.
|
(Session
14): Include a copy of the job application form and screening procedures you
intend to use.
|
(Session
14): Provide a copy of your intended benefits package.
|
(Session
14): Provide a copy of your employee handbook.
|
(Session
14): Outline your initial and ongoing training programs for employees.
|
(Session
14): Identify the labor attorney who will be advising you on employee matters.
|
Section 15:
Growth Program
|
Expansion
(Session 15):
Describe your growth: You might
include development of profitable pilot operation, sources of financing, cash
flow, accounting system in place, incentive compensation plan for managers,
benefits package and policies, economics of scale.
|
Handling Major Problems
(Session 15):
Describe scenarios of adverse conditions and how you intend to respond
to them. For example how you would
plan to handle a 25% reduction in sales, or new competitions, etc.
Prepare a cash flow projection based on lowered
expectations and show how and where you would reduce costs to maintain
liquidity.
|
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