Write out your mission statement and set goals for your new company—both short-term and long-term. At this stage, you must determine what type of organizational structure, management, and personnel your company will require. Identify key management members and their responsibilities. List goals and a time schedule for hiring and training your staff. Describe the targeted customer.
Determine the number, location, and size of the various competitors in the area. Describe your marketing goals and strategies, and illustrate how you plan to achieve these goals.
Research the area and determine where you wish to locate your company. When selecting a location for your business, it is important to consider economic factors and the environment of the area in which you are looking, noting the location of not only your potential competitors but also your target audience. This section should include your proposed financing, past financial performance, and future expectations for financial performance. What are your financial goals to ensure the success of your business?
Careful financial planning is necessary for a successful business. Your banker can offer valuable assistance in financial assessment. During this stage, you must also determine what resources are needed to reach your financial goals. An incubator may be a possible resource option as well. Your business plan should include an executive summary, supporting documents, and financial projections. Although no single formula exists for developing a business plan, some elements are common to all business plans.
They are summarized in the outline that follows. Description of business B. Capital equipment and supply list C. Pro forma income projections profit and loss statements F. Detail by month, first year H. Detail by quarter, second and third years I. Assumptions upon which projections were based J. Tax returns of principals for last three years B. Personal financial statement all banks have these forms C.
For franchised businesses, a copy of franchise contract and all supporting documents provided by the franchisor D. Copy of proposed lease or purchase agreement for building space E. Copies of licenses and other legal documents F. Copies of resumes of all principals G.
I've been following this thread because I'm creating a business plan at the moment myself. I think "writing" the plan is different from "developing" the plan and it also depends on the particulars of your business. It can be very well-written and put together, and you still not get the loan on the basis of your business details and the plan itself.
I think a "bonus" isn't appropriate if you get the loan unless the writer has a stake in your business, but a gift of appreciation would be nice.
It seems rather mind-boggling to me that you are ready to someone without already having a salary range in place? What are the rest of the job requirements? Generally, in the business world, a degree is only worth so much but experience is what matters.
Someone fresh out of school who's never written a business plan on her own wouldn't bring much to the table, unless there are other factors you haven't mentioned about both her and the job duties. Please register to post and access all features of our very popular forum.
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