What information should a Business Plan Include? I. II.

Description of the Business Marketing Plan

Ill. Organization Plan g IV. Operation/Production Plan V. Financial Plan

I.Description of the Business What type of business are you planning (retail wholesale (retail, wholesale, service)? What product or service will you sell? What type of business opportunity is it (new, part-time, yp pp y ( , p , expansion, seasonal, year-round)? Why does it promise to be successful? What are the growth opportunities?

II. Marketing Plan Who are your potential customers? How will you attract and hold your share of the market? y y How will you promote sales? Who are your best suppliers? Who are your competitors? How are their businesses prospering? Where will the business be located? What factors should influence your choice of location? How does your building contribute to your marketing plan? What are the features of your building layout?

III. Organization Plan Who will manage the business? How is your manager (s) qualified? How many employees will you need? To do what? What ire Wh i your plans f employee hi i l for l hiring, salaries, b l i benefits, fi training, and supervision? How will you manage finances? y g How will you manage record keeping? What consultants or specialists will you need? For what? What legal form of ownership will you choose? Why? What licenses and permits do you need? What regulations will affect your business?

IV. Operation/Production Plan What is your operational process? What ire your operational hours? What kind of equipment (s) is/are required and why? How will equipment needs change over time? q p g What type of facility is required and wily? What is the level of importance of the facility? Is there uniqueness to the facility?

V. Financial Plan What is your estimated business income for the first year? Monthly for the first year? Quarterly for the second and third years? What will it cost you to open your business and sustain it for its first is months of operations? What will be your monthly cash now during the first year? Q Quarterly cash flow for tile second and third years? y y What are your personal monthly financial needs? What sales volume will you need in order to make a profit during the first three years? What is your break-even point? What will be your projected assets, liabilities, and net worth on the day before you expect to open?

BUSINESS PLAN OUTLINE Cover Sheet: Name of business Name of owner (s) Address and telephone number of business or where owner ( ) can (s) be reached Date presented

First Sheet: Statement of purpose Name of business and address Amount of financing needed Purpose of financing Statement of profit potential

Section I: Description of business Describe the business and the product or service you will sell. Discuss the history of the business, if any. Discuss your work experiences. Discuss the growth possibilities for the business and your reasons for believing the business will be successful

Section II: Marketing plan Describe your potential customers and how you plan to attract and hold them. Describe your competition, how their businesses are currently faring, and how your business will be superior to each competitor. Describe your sales promotion plan, your selling methods, your purchasing plan, your best suppliers and what they offer. Describe your location, its features, what factors influenced you to choose it, your floor layout, and how all location factors influence marketing. Tell what equipment you need. d

Section III: Organization plan Describe your management personnel, what each manager will do, their qualifications for the job, and their salaries for the first three years. Discuss any consultant or specialist services you will use and the assistance each will provide. Describe the employees you will need, what each will do, and how you will employ, train, and supervise them. Describe th l D ib the legal structure and h l t t d how it will contribute t th b i ill t ib t to the business. N Name your officers, if any, and present an organization chart. Describe your plan for managing finances and record keeping after the business y p g g p g get is going. Discuss any licenses, permits, or regulations that affect your business.

Section IV: Operation\Production Plan Describe the primary production process that will be used. Describe the secondary production process that will be used. Describe and list major equipnient6nd\or'machines. Describe the size of facility that is being used or will be required for production purposes. List the operational hours. Estimate the production capacity for the operation by the generally accepted definition of your industry.

Section V: Financial Plan Discussion of financial statements Accounting assumptions Explanations and interpretations Detailed conclusions Discussion of fi Di i f financial projections i l j ti Approach to projecting Key assumptions Risks involved Detailed conclusions

Summary Present three or four summary paragraphs. Paragraph I Summarise tile description of the business. Give the name and address of the business tile type of business your product or service the name (s) of business, business, service, the owner (s), the amount of money needed, and the purpose of the financing. Paragraph 2 Summarise the marketing plan. Describe the potential market, and how you will attract customers. Describe your competition and your selling methods. Paragraph 3 Summarise Your organization plan in terms of management personnel and S f qualifications, and legal structures. Paragraph 4 Summarise your operation/production plan in terms of operational process, hours, and type of equipment, facility needed.