Business Plan cont...
- Products and Services – In-depth describe your offerings as well as the company’s competitive advantages and disadvantages. Include each products and/or service, along with a description, price, and advantage to customers.
- Marketing Plan – In this section provide details on the market. Include customer needs, demographics, how you plan to reach customers, how you plan to deliver products/services (distribution), particulars about major competitors, and sales forecast.
- Operational Plan – Provide a description of day-to-day operations. Take account of the business location as well as expected equipment, people, processes, and surrounding environment. You should be able to track results, so be specific.
- Management and Organization – Describe key management personnel, their experience, competencies, and a plan to function should they no longer be part of the company. It’s not necessary, but you can create an organizational chart with management hierarchy and key functions.
- Startup Expenses and Capitalization - Estimate expected startup expenses accurately and then include the plan of where you will get sufficient capital. It may be helpful to speak with others who have opened similar businesses.
- Financial Plan – Include a 12 month profit and loss projection, a cash-flow projection, a projected balance sheet, and a break-even calculation. It’s optional to also include four-year profit and loss projections.
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