Section 1: BUSINESS PLAN SUMMARY 1) Describe your products and services. 2) Describe the legal structure of your business ownership – sole…

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Section 1: BUSINESS PLAN SUMMARY

1) Describe your products and services.

2) Describe the legal structure of your business ownership – sole proprietorship, partnership, or corporation.

3) Describe your experience and goals in this business.

Section 3: MANAGEMENT TEAM

1) Who will handle which functions in the business?

2) What will their duties and qualifications are?

3) If employees, how many will you have and what will their duties be?

4) Who will hire, train and supervise them? What benefits to offer?

5) What will your employee salaries be? Hourly or contract pay?

6) Who will be in your advisory team? Lawyer, Accountant, Insurance broker, etc.

7) How will you manage your record keeping, finances, and inventory?

8) What licenses, permits or regulations will affect your business?

9) Will you have to collect and pay sales tax, and if so, how much for a state or a city?

10) What types of insurance will you need?

11) What will you do if you are in the event of emergency that takes you away from the business? Who will take care of the business?

12) What will you do if a competitor lowers their prices?

13) What will you do if sales are not what you expected?

14) What will you do if costs are higher then you expected?

Section 4: FINANCIAL PLAN

1) Calculate if possible, single unit profit.

2) Calculate projected cash flow week by week for at least the first two months.

3) Include, if possible, balance sheet and income statement for the first year.

Section 6: MARKETING PLAN

1) Are you making products or providing services?

2) What customer need or want is being filled?

3) What are the features and benefits of your products or services?

4) Show strengths and weaknesses of your products compared with competitor’s products or services.

5) Who will supply the materials?

6) What future or next products/services will you offer?

7) How to reach customers? What is your promotion plan?

8) What is happening in your industry? What are major changes?

9) Who are your customers?

10) Who are your main competitors? What are their strengths and weaknesses?

11) What will the image of your business be? Describe the logo if possible

12) Where will your business be located, and why did you choose this location?

13) How did you determine your pricing strategy?

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