Components Of A Business Plan
|
|
- Willis Vernon Hodge
- 2 years ago
- Views:
Transcription
1 1 Components Of A Business Plan Cover Page Table of Contents Statement of Purpose Description of the Business Competition Market Strategy Location Management Personnel Application and Expected Effect of the Loan Summary Appendices: Financial Data Cash Flow Projection Income Statement Balance Sheet Supporting Data Prepared by; 303 Court St, Little Valley, NY x2311 or 2321
2 2 Cover Page Name and address of business Telephone Numbers Names of Owners Owner s addresses and telephone numbers Date Plan was prepared (month and year) OPTIONAL: Picture of business, company logo, etc.
3 3 Table of Contents Statement of Purpose Description of the Business Competition Market Strategy Location Management Personnel Application & Expected Effect of the Loan Summary Appendices: Financial Data Cash Flow Projection Income Statement Balance Sheet Supporting Data
4 4 Statement of Purpose This section of the analysis/plan should be a summary of the plan's objectives and should include what the plan will be used for (i.e., operating and policy guide, loan proposal). If the plan is to be used as a loan proposal the statement purpose should include responses to the following: 1) Who is requesting the loan. 2) Type of business (i.e., sole proprietorship, partnership, corporation). 3) How much is being requested. 4) What the money will be used for. (List approximate costs if proceeds will be used for equipment purchases.) 5) The benefits the business will receive from the money. 6) Why the loan makes sense. 7) How will the loan be repaid.
5 5 The description of the business should include: Description of the Business 1) The type of business: i.e., primarily merchandising, manufacturing or service. 2) The status of the business: i.e., startup, expansion, takeover or existing business. 3) The business form: i.e., sole proprietorship, partnership, or corporation. 4) The business mission what you want your business to achieve (i.e. to be the preferred service provider to the local industry.) Describe briefly your product or service, including the unique selling position of your product or service. 5) Why this business will be profitable. 6) What the hours of operation will be. 7) Any seasonal fluctuation the business may experience. 8) List future growth opportunities (new products or services you may add in the future) 9) Briefly describe any risks your company will face. 10) Briefly describe any strategic relations that exist (i.e. any dedicated customers, existing sales contracts, legal agreements of benefit, preferred pricing status, etc.) 11) List any intellectual properties (copyrights, trademarks, patents, etc.) Include copies in the appendices under Supporting Data. If the business has been in existence give a summary of its history discussing any problems that arose during its existence and how these problems were resolved. If the project includes a planned expansion explain what problems the present size has caused and how the expansion will correct these problems. If the business is new, your description should explain why the owners will be successful; what their experience is; what other people involved in this kind of business feel about this business; what will be special about this business; and when it will open. Also included should be what, if any, managerial or technical help will be provided by trade suppliers, what the trade credit is and how the company will offset possible slow payments by customers. For a business takeover there should be a brief history of the business to be purchased. This history should include: when and by whom the business was founded; why the owner is selling it; and how a purchase price was arrived at. There should also be information regarding the trend of sales. If this trend is downhill; why is it downhill and how can it be turned around? How does management plan to make the business more profitable?
6 6 Competition To be competitive, you must first know who your competition will be and what their positive and negative aspects are. A small business can operate profitably in a market too small for big business. Therefore, it is helpful for a small business to identify these unserved or unsatisfied markets where they have the advantage. This section should answer the following questions: 1) Who is the competition? Not just apples to apples competitors, but other functional competitors? (i.e. you can buy milk at a grocery store, a convenience store, some gas stations, some pizza shops.if you are a grocery store that sells milk, these are all your competitors. 2) Why is your operation better? What is your unique selling position (USP) that will make customers choose your business? 3) What are the strengths and weaknesses of the competition? What are YOUR strengths and weaknesses? 4) How does the business compare to its competition? What are its similarities? Its differences? 5) What can be learned from watching the competition? How do they handle certain issues? Was their approach successful? Would you handle the same issue differently? Why? 6) Compare your prices to the competition. Are you in a competitive range? Are you profitable at these prices? What if you are forced to lower prices? Are your prices higher? How can you justify a higher price and are you sure your customers are willing to pay a higher price for your product or service? Why? 7) Compare and contrast the competition in relation to buying considerationsprice, service, location, quality, value, dependability, etc. How do you compare, and how will you do these considerations better? It is important to study the competition closely so that the company does not jump into a market that is already being adequately serviced.
7 7 Market Strategy In order to be profitable, a business has to be able to sell its product or service to enough customers to cover its cost. To do this there must be a defined marketing strategy, which includes certain basic marketing concepts. These include: I) Defining the market. Who needs the service or product? Who is your target market? 2) The size of the target market. 3) The business' place within the market. It should use its special abilities, unique selling points, strengths, to meet the demands in the market they are going to service. 4) The market's growth potential. 5) Will the business share increase, decrease or stay constant as the market changes? 6) How will the company take advantage of its strengths within the market they are serving? 7) Pricing strategy that allows the business to be profitable, yet competitive. How to you compare to your competitor s pricing? Can you justify any higher pricing you may charge? 8) If the pricing will exceed the competition's, how can these higher prices be justified? 9) How will you reach your target market? What are the associated costs? 10) Will you use promotions? Sales incentives? Briefly explain. 11) What are your customer service policies? How will you train employees to extend these policies to your customers? 12) How can you network for increased business opportunities? 13) Who will be responsible for implementing your marketing plan? Do they possess the necessary skills and qualifications? 14) Will you outsource any marketing functions? To whom? At what cost? If the company is a new business, explain the industries marketing strategy. For an existing business, explain the current strategy covering any problems and how they were overcome. This section should also include a brief paragraph on the industry's credit terms and the anticipated credit terms of the company involved. Also include what steps can be taken or changes made if the business experiences a sales downturn. (i.e. seasonal business, temporary cost increases, etc.)
8 8 Location Proper site location is very important. While clientele may eagerly seek out some types of businesses, no matter how obscure their location, many businesses require an easily accessible, highly traveled location to be profitable. This is especially true if the sales are based on impulse buying. Therefore, if this is a new business, the ideal site location should be decided first. Keeping in mind that rent is the combination of the cost of space plus advertising, it should be determined how close to this ideal location the company can settle. Items to be included in this section are: 1) The business address or where you d like the business to be located. 2) The physical features of the building or buildings, including signage, parking, lighting. 3) Whether the building will be owned or leased. If leased, state the terms. 4) What renovations are needed, if any? 5) The type of neighborhood, including zoning laws and permits required. 6) Types of businesses in the area. Do they help draw traffic to your business? 7) Why this building and/or site is desirable. 8) What affect this site has on operating costs. Chambers of Commerce, trade sources, planning commissions, bankers, and real estate brokers are good sources of information for availability, costs, and traffic patterns for different sites.
9 9 Management According to numerous studies on the failure of small businesses, approximately 98% failed because of some managerial weakness. (Managerial Incompetence _45%; Unbalanced Expertise 20%; Inexperience in Management 18%; Inexperience in the Line 9%; Neglect, Fraud, Disaster 6%). If management is inexperienced or unbalanced, they can gain the experience themselves or find a person to give them the needed experience. In the Management Section, you will explain who is running the business, who owns the business if the owner/principal are not the same person, and the talents and skills of key employees. This section should include: 1. Principal's Personal Histories a. Business background and Resume. b. Management experience. c. Education, both formal and informal. d. Personal data: age abilities, interests, etc. e. Reasons for going into business. f. Physical conditions. g. Why the principals will be successful. h. Will you have a Board of Directors? Who was chosen and why they were chosen to be on the Board. 2. Related Work Experience a. Operational experience in this type of business. b. Managerial experience in this type of business c. Managerial experience from other areas. 3. Duties and Responsibilities a. Who does what. b. Who reports to whom. c. Who makes final decisions. 4. Salaries a. Reasonable, but not greedy b. Cost of living budgets. c. Fringe benefits? Cost of fringe benefits? d. Offer a 401K, Pension or other retirement plan? Cost of this plan. 5. Resources Available to the Business If you have selected these firms, name the firm and your key contact at the firm. a. Accountant also name what accounting system you will use. Who will periodically analyze your financials? b. Lawyer. c. Insurance Broker what kinds of insurance will you carry? d. Business trade or civic organizations. e. Consultants paid and unpaid. Is there someone in a similar business who is not a competitor you can discuss business issues with? A retired executive who is helping you? f. Colleges and Universities. g. Federal, state and local agencies Include the CCBDC as one of your resources
10 10 6. Security Analyze how you will protect your business and state projected costs for: a. Insurance available to cover operating expenses if owner dies? b. Protection of inventory? c. Theft? d. Disaster Plan? How will you operate if the computer fails or a portion of the building is in a fire? Information included in this section should indicate that the business is aware of skills both inside the company (management, employees, etc.) as well as that outside the company.
11 11 Personnel The employees hired by a business are very important. The ability of various staff members may increase management's or may make up for some expertise needed in the business that management lacks. Questions that this section should answer include: 1) What are the present and future personnel needs? How many employees and in what positions? 2) What skills, training or qualifications will be required? 3) Are the necessary type of people available? 4) How many full and parttime employees are needed? 5) How much each employee will earn and whether they will be paid hourly or by salary? 6) What fringe benefits, if any, will there be? 7) How many hours will employees typically work? Is any overtime expected? 8) Will these employees need to be trained? If so, what are the costs? How will you train future employees for consistent performance? How will you crosstrain employees to cover for vacation and unexpected absences? Studies have shown that over 70% of all clients who stop going to a store do so because of the lack of prompt, courteous attention. Therefore, it is important to remember that good employees can make a marginal business work while poor employees can easily destroy an excellent business.
12 12 Applications And Expected Effect Of The Loan This section will be used if the company is planning to finance the project by obtaining a loan or through individual investors. The best way to attack this problem is to make two lists. The first would be a "bare bones" lists, the minimum that is needed to scrape by with. The second list would be an "optimal" list, what would be desirable if money was no problem and profit was not a motive of the company. From these two lists a final list can be devised of what would be a reasonable loan request to operate the company. This section should include responses to the following: 1) What will you spend the loan money on? (i.e., building equipment, inventory, working capital, etc.) 2) What are the actual items to be purchased? (Include brief description, model number and price.) Include copies of quotations for equipment in Supporting Data. 3) Who will supply these items? 4) How much will they cost? (Include sales tax, installation charges, freight, etc.) 5) How will these expenditures make the business more profitable? It is important to make sure that the costs do not exceed the expected increased revenues.
13 13 Summary This section should summarize all the ideas that have been developed in the business plan. It should show that the sections support each other logically and coherently. It should be written in a way that leaves the reader with a concise, convincing statement that both the project and plan are feasible.
14 14 Appendices Financial Data Assumptions for Financial Statements: Explain the basis for conclusions on financial statements Margins and costs associated with sales Formulas used for determining sales Determinations for expenses Any other pertinent information used in reaching financial conclusions Sample Cash Flow Projection Three years of cash flow projections First Year Monthly extensions Second Year Quarterly extensions Third Year Annual Sample Income Statement Twoyear projection. Normally based 1/1 12/31 unless you are using a fiscal year Sample Balance Sheet TwoYear Projection. Annual, normally 12/31/xx SUPPORTING DATA Any pertinent additional supporting information Copies of licenses or permits, leases, mortgages, purchasing agreements Blueprints or information about equipment Copies of information on contracted or pending sales or purchases Copies of contracts (if applicable) Copies of intellectual properties (copyrights, trademarks, patents) Taxes (For those Applying for Loan) Three years of personal Federal Income Taxes Sets for all principals If an existing business or an acquisition: Three years of business taxes Must include Schedule C s and other Business Schedules filed Include signed Form 1040 AND Three years personal Federal Income Taxes of person applying for Loan.
15 15 CASH FLOW STATEMENT INTRUCTIONS 1. Cash on hand (beginning of month) Cash on hand (same as 7) Cash position previous month 2. Cash Receipts (a) cash sales All cash sales Omit credit sales unless cash is actually received (b) Loan or other cash injection Indicate here all cash injections not shown in 2(a) 4. Total cash available (before cash out) (1+ 2a+2b) 5. Cash paid out: (a) Purchases (merchandise) (b) Gross wages (c) Payroll Expenses (taxes etc.) (d) Outside Services (sublet) (e) Supplies (office and operating) (f) Repairs and maintenance (g) Advertising (h) Car, delivery and travel (I) Accounting and Legal (j) Rent (k) Telephone (l) Utilities (m) Insurance (n) Taxes (real estate, etc.) (o) Interest (p) Other expenses (specify each) (q) Miscellaneous (unspecified) (r) Subtotal Merchandise for resale or for use in product (paid for in current month) Basic pay plus overtime (if any), vacations, sick days etc. Health insurance, unemployment insurance, employer share taxes, etc. Outside labor and/or material for specialized or overflow work Items purchased for use in the business (not for resale) Include periodic expenditures such as painting or decorating etc. This amount should be adequate to maintain sales volume If personal car is used, charge in this column, including parking Outside services, including, for example, bookkeeping Real estate only (see 5 (p) for other details) Service in office or long distance calls made from personal telephone Water, heat, light and/or power Coverage on business property and produces (fire, liability): also worker's compensation, executive life (include 5 (w)) Plus inventory tax, sales tax, excise tax, if applicable Remember to add interest on loan as it is injected (see 2b above) Unexpected expenditures may be included here as a safety factor Equipment expenses for the month should be included here (noncapital) When equipment is rented or leased, record payments here Small expenditures for which separate accounts would not be practical This subtotal indicates cash out for operating costs (s) Loan principal payment Include payment on all loans, including vehicle and equipment purchases Nonexpensed (depreciable) expenditures such as equipment, building (t) Capital Purchases (specify date & amount) purchase Expenses incurred prior to first month projection and paid for after startup (u) Other startup costs (v) Owner's Withdrawals 6. Total cash paid out, add 5(a) through 5(v) Should include payment for such things as owner's income tax, social security, health insurance premiums, etc. 4. Total cash available (before cash out) (1+2a+2b) 6. Total cash paid out, add 5(a) through 5(v) 7. Cash Position (end of month 4 minus 6) Enter this amount in (1) Cash on hand following month
16 CASH FLOW STATEMENT 16 1.CASH ON HAND Year 1 20XX JAN FEB MAR APR MAY JUN JULY AUG SEP OCT NOV DEC TOTAL 2.CASH RECEIPTS(a) cash sales (b) loan or other cash injection CCBDC MDLF Loan Proceeds 4.TOTAL CASH AVALIABLE (before cash out) (1+2a+2b) 5. CASH PAID OUT: (a) Purchases (merchandise) (b) Gross Wages (c) Payroll Expenses (taxes etc.) (d) Outside Services (sublet) (e) Supplies (f) Repairs and maintenance (g) Advertising (h) Car, delivery and travel (I) Accounting and Legal (j) Rent (k) Telephone (l) Utilities (m) Insurance (n) Taxes (real estate, etc.) (o) Interest (p) Other expenses (specify each) (q) Miscellaneous (unspecified) (r) SUBTOTAL (s) Loan principal payment (t) Capital Purchases (specify date & amount) (u) Other startup costs (v) Owner's Withdrawals 6. TOTAL CASH PAID OUT, Add 5(a) Through 5(o) 4.TOTAL CASH AVAILABLE (before cash out) (1+2a+2b) 6. TOTAL CASH PAID OUT, Add 5(a) Through 5(v) 7.CASH POSITION (end of month 4 minus 6) CASH FLOWS for YEARS 2 & 3
17 1.CASH ON HAND 2.CASH RECEIPTS(a) cash sales (b) loan or other cash injection CCBDC MDLF Loan Proceeds 4.TOTAL CASH AVALIABLE (before cash out) (1+2a+2b) Year 2 20XX Year 3 20XX JANMAR APRJUN JULSEP OCTDEC TOTAL ANNUAL CASH PAID OUT: (a) Purchases (merchandise) (b) Gross Wages (c) Payroll Expenses (taxes etc.) (d) Outside Services (sublet) (e) Supplies (f) Repairs and maintenance (g) Advertising (h) Car, delivery and travel (I) Accounting and Legal (j) Rent (k) Telephone (l) Utilities (m) Insurance (n) Taxes (real estate, etc.) (o) Interest (p) Other expenses (specify each) (q) Miscellaneous (unspecified) (r) SUBTOTAL (s) Loan principal payment (t) Capital Purchases (specify date & amount) (u) Other startup costs (v) Owner's Withdrawals 6. TOTAL CASH PAID OUT, Add 5(a) Through 5(o) 4.TOTAL CASH AVAILABLE (before cahs out) (1+2a+2b) 6. TOTAL CASH PAID OUT, Add 5(a) Through 5(v) 7.CASH POSITION (end of month 4 minus 6) INCOME STATEMENT
18 18 20XX 20XX 20XX Sales Cost of Sales Beginning Inventory Purchases Cost of Goods Less Ending Inventory Cost of Sales Gross Profit on Sales Expenses: Advertising Business Travel Car & Truck Expenses Gross Wages Insurance Interest Expense Legal & Professional Misc. (Specified Expenses) Office Supplies & Postage Other (Unspecified) Payroll Expense Repairs & Maintenance Shipping Sublet Supplies Taxes Telephone Utilities: Heat Electric Total Expenses Income From Operations Other Income: Rent Revenue Interest Income Net Profit/Loss BALANCE SHEET 20XX 20XX 20XX
19 19 Assets Current: Cash Inventory Business Improvements Long Term: Tools & Equipment Land Building Supplies Furniture & Fixtures Total Assets Liabilities: Current: Accounts Payable Sales Tax Payable Payroll Taxes Long Term: Long Term Notes Miscellaneous Liabilities Total Liabilities Owners Equity Capital Total Liabilities & Capital
South Eastern Economic Development SEED Corporation
South Eastern Economic Development SEED Corporation 80 Dean Street (Route 44), Taunton, MA 02780 SEED is a non profit finance corporation certified and accredited by the U.S. Small Business Administration
Business Plan Booklet
Business Plan Booklet 80 Dean Street Taunton, MA 02780 www.seedcorp.com SEED is a non-profit finance corporation certified and accredited by the U.S. Small Business Administration (SBA) This Business Plan
Business Plan. Your Business Name
Business Plan Your Business Name Owners Address City, ST ZIP Code Telephone Fax E-Mail Date: Page 2 II. Executive Summary Write this section last. We suggest that you make it one page long; two pages max.
BUSINESS PLAN GUIDE. Send completed business plans to:
BUSINESS PLAN GUIDE Send completed business plans to: Waubetek Business Development Corporation 6 Rainbow Ridge Road P.O. Box 209 Birch Island, ON P0P 1A0 1-800-665-2248 toll-free (705) 285-4275 phone
Basic Business Plan Outline
Basic Business Plan Outline A business plan needs to be a well thought out, honest, appraisal of the business and opportunity. This outline is meant to be used for your road map. It should be a living
Business Planning Worksheets
Business Planning Worksheets Copyright 2003-2010 Lamar University SBDC Table of Contents Introductory Section... 1 Cover Sheet... 1 Executive Summary... 1 Narrative Section... 2 Description of the Business...
A PRACTICAL GUIDE TO WRITING A BUSINESS PLAN
A PRACTICAL GUIDE TO WRITING A BUSINESS PLAN Louisiana Small Business Development Center At Southeastern Louisiana University 1514 Martens Drive Hammond, LA 70401 Phone: (985) 549-3831 Fax: (985) 549-2127
Cash Flow Forecasting & Break-Even Analysis
Cash Flow Forecasting & Break-Even Analysis 1. Cash Flow Cash Flow Projections What is cash flow? Cash flow is an estimate of the timing of when the cash associated with sales will be received and when
Chapter 9 E-Commerce: Digital Markets, Digital Goods
1 Chapter 9 E-Commerce: Digital Markets, Digital Goods LEARNING TRACK #: 2: BUILD BUSINESS PLAN There are lots of different ways to lay out a business plan. The sample
PREPARATION for a BUSINESS PLAN
PREPARATION for a BUSINESS PLAN Successful small business expansions and new small business creations lead the way in sustaining existing jobs, forming new jobs, creating new markets and innovations that
Financial Plan. A) Estimated One-Time Financial Requirements. Part One
Financial Plan The Financial Plan is perhaps one of the most important components of your Business Plan (see Business Plan Handout). Not only is it essential if you are seeking external financing it is
PLANNING FOR SUCCESS P a g e 0
PLANNING FOR SUCCESS P a g e 0 PLANNING FOR SUCCESS P a g e 1 Planning for Success: Your Guide to Preparing a Business and Marketing Plan This guide is designed to help you put together a comprehensive,
WHY WRITE A BUSINESS PLAN?
KANSAS SMALL BUSINESS DEVELOPMENT CENTER PITTSBURG STATE UNIVERSITY PITTSBURG, KS 66762 PHONE: 620 235 4920; FAX: 620 235 4919 e mail: ksbdc@pittstate.edu WHY WRITE A BUSINESS PLAN? A business plan is
Business Plan Guide. NYS Small Business Development Center. Small Business Development Center. Farmingdale State College
NYS Small Business Development Center Farmingdale State College Business Plan Guide Small Business Development Center The SBDC is a program supported by the U.S. Small business administration and extended
Business Plan 101 The Basic Questions Answered
Business Plan 101 The Basic Questions Answered This outline is intended to assist an entrepreneur in writing a business plan for the establishment, the purchase or the expansion of an existing business.
Writing a Business Plan
Writing a Business Plan Small Business Development Center Georgia State University 404-651-3550 web: www.gsu.edu/sbdc Writing a Business Plan Georgia State SBDC 1 Why Write a Business Plan? A Business
BUSINESS PLAN TEMPLATE MANUFACTURING
BUSINESS PLAN TEMPLATE MANUFACTURING COVER SHEET (This highlights how you can be contacted. numbers and email addresses listed are operational.) Ensure that telephone 1. Identify the Business 2. Identify
What is a business plan?
What is a business plan? A business plan is the presentation of an idea for a new business. When a person (or group) is planning to open a business, there is a great deal of research that must be done
UNDERSTANDING WHERE YOU STAND. A Simple Guide to Your Company s Financial Statements
UNDERSTANDING WHERE YOU STAND A Simple Guide to Your Company s Financial Statements Contents INTRODUCTION One statement cannot diagnose your company s financial health. Put several statements together
Business Plan Workbook
Business Plan Workbook TABLE OF CONTENTS 1.0 OVERVIEW... 3 2.0 DESCRIPTION OF THE BUSINESS... 5 3.0 OWNERSHIP & MANAGEMENT... 7 4.0 MARKET & INDUSTRY OVERVIEW... 8 5.0 MARKETING PLAN & STRATEGY... 11 6.0
How to Prepare a Cash Flow Forecast
The Orangeville & Area Small Business Enterprise Centre (SBEC) 87 Broadway, Orangeville ON L9W 1K1 519-941-0440 Ext. 2286 or 2291 sbec@orangeville.ca www.orangevillebusiness.ca Supported by its Partners:
OUTLINE OF A BUSINESS PLAN PLAN SUMMARY
APPENDIX B OUTLINE OF A BUSINESS PLAN A business plan is a description of your proposed or existing business and should include information on the business' products or services, markets, marketing strategies,
Check-List for Going into Business
Check-List for Going into Business Management and Planning Series U. S. Small Business Administration April 2009 Helping Small Business Start, Grow and Succeed Check-List for Going into Business Management
Financial Statement Preparation Webinar. Presented by Nick Chapman VEI Program Coordinator New York City
Financial Statement Preparation Webinar Presented by Nick Chapman VEI Program Coordinator New York City 122 Amsterdam Ave. New York, NY 10023 Phone: 212-769-2710 www.veinternational.org Objectives: Review
Understanding Financial Statements. For Your Business
Understanding Financial Statements For Your Business Disclaimer The information provided is for informational purposes only, does not constitute legal advice or create an attorney-client relationship,
Business Plan Guide. 4. What are the advantages and disadvantages of the legal form you have chosen?
Business Plan Guide Name: Company Name: Department: Address: Phone: E-Mail: Description of business 1. What exactly is your product or service? Be specific. 2. Why do you want to start or expand your own
BUSINESS PLAN TEMPLATE
PARRY SOUND AREA COMMUNITY BUSINESS & DEVELOPMENT CENTRE INC. A Community Futures Development Corporation 1A Church Street, Parry Sound, ON P2A 1Y2 Telephone: (705)746-4455 Toll Free: 1-888-746-4455 Fax:
Business Plan Guidelines
Business Plan Guidelines The following Business Plan Format checklist is meant as a guideline only listing the most important sections of the business plan in the order in which they will likely appear
Tom Serwatka, Business Advisor MV Small Business Development Center SUNY Institute of Technology serwatt@sunyit.edu 315-792-7557
Tom Serwatka, Business Advisor MV Small Business Development Center SUNY Institute of Technology serwatt@sunyit.edu 315-792-7557 1 Objectives of Presentation To walk you through the steps needed to create
Small-business owners who need
BUSINESS PLANS ARE MORE IMPORTANT NOW THAN EVER Jenni Jeras 1 Small-business owners who need financing are smart to do their homework, and that includes creating a comprehensive business plan. Lenders
How to Write a Business Plan
How to Write a Business Plan Small Business Development Center (SBDC) A well-written comprehensive business plan forms the basis for the success of any business venture. The business plan is a written
BUSINESS PLAN OUTLINE
BUSINESS PLAN OUTLINE I. NARRATIVE 1. Cover Sheet Name of business, owner(s), address, phone and fax numbers, web site address. 2. Table of Contents The Table of Contents outlines each section and where
BUSINESS PLAN GUIDELINES
BUSINESS PLAN GUIDELINES The following guidelines are designed to assist you in writing your business plan. Not every bullet point will apply to your business as these guidelines are generic, but they
Business Start Up Basics III
Business Start Up Basics III Intro to Accounting Presented by: Suzie Dills SBDC Business Consultant Agenda Key Objectives of the Course Brief History & Definition of Accounting General Ledger Double Entry
BUSINESS PLAN TEMPLATE
iplanner.net Small Business Plans Online BUSINESS PLAN TEMPLATE For a start-up company 18/01/2012 12:33:19(GMT) Executive Summary... 3 Business Overview... 3 Products and Services... 3 Sales Forecast...
Financial Statement Consolidation
Financial Statement Consolidation We will consolidate the previously completed worksheets in this financial plan. In order to complete this section of the plan, you must have already completed all of the
Breakeven Analysis. Breakeven for Services.
Dollars and Sense Introduction Your dream is to operate a profitable business and make a good living. Before you open, however, you want some indication that your business will be profitable, if not immediately
Table of Contents: (Optional)
The Importance of a Business Plan Developing a business plan is the first step to a successful business. This guide will provide an outline in organizing your effort to gather and evaluate information
Vol. 1, Chapter 3 - Accounting Adjustments
Vol. 1, Chapter 3 - Accounting Adjustments Problem 1 1. ($20,000 2,000) 48 = $375 per month 2. Jan. 31 Depreciation Expense $375 Accumulated Depreciation Van $375 To record depreciation expense for January
How to Forecast Your Revenue and Sales A Step by Step Guide to Revenue and Sales Forecasting in a Small Business
How to Forecast Your Revenue and Sales A Step by Step Guide to Revenue and Sales Forecasting in a Small Business By BizMove Management Training Institute Other free books by BizMove that may interest you:
Too often business owners do a cash flow in their head. Putting the information down on paper will give you the following:
CASH FLOW A cash flow is a forecast of when you expect to receive cash from your sales and when you expect to pay your bills. It is not and should not be confused with a pro-forma income statement. A cash
BRILLIANT CLEANING SERVICE
SAMPLE SERVICE BUSINESS PLAN Created by Northeast Entrepreneur Fund, Inc. The contents of this Business Plan are fictional. No intent is made to resemble a business in existence. BRILLIANT CLEANING SERVICE
Fill in the Blanks Feasibility Study Worksheet
Fill in the Blanks Feasibility Study Worksheet The Arizona SBDC Network is partially funded through a cooperative agreement with the US Small Business Administration. The SBA s funding is not an endorsement
BUSINESS LOAN APPLICATION
BUSINESS LOAN APPLICATION Superior National Bank & Trust Company 235 Quincy Street, P.O. Box 450 Hancock, MI 49930 phone 906.482.0404 toll-free 1.866.482.0404 1 INTRODUCTION Thank you for considering Superior
I. Executive Summary. II. The Business and its Product/Services
Business Plan Outline UW Oshkosh Small Business Development Center Tel. 1-800-232-8939 (In Oshkosh, (920) 424-1453) Web Site: www.wisconsinsbdc.org/oshkosh There are a variety of styles and formats used
Business Plans & Financial Statements
Business Plans & Financial Statements Prepared by Dr. Merle Rhoades, Director Small Business Development Center Morgan Community College Agritourism Spring, 2008 BUSINESS PLANS A tool to lead you down
Developing Financial Statements
New York StartUP! Business Plan Competition Developing Financial Statements Presented by Paisley Demby, CEO PBN Consulting, LLC www.pbnconsulting.com 1 Invitation to Tweet #2015NYStartUp PaisleyDemby Contents
Accounting Basics, Part 1
Accounting Basics, Part 1 Accrual, Double-Entry Accounting, Debits & Credits, Chart of Accounts, Journals and, Ledger Part 1 What s Here Introduction Business Types Business Organization Professional Advice
Before You Start a Business A Basic Checklist
Before You Start a Business A Basic Checklist The following is a list of questions that every entrepreneur should answer before going into business. These questions are all yes or no answers. There is
Business Plan Planning Service Financial Analyses and Projections
Business Plan Planning Service Financial Analyses and Projections Financials Included With Every Ceo Resource Plan These are the financial analyses and projections that are included with all plans developed
JOURNEYPERSON BUSINESS START PROGRAM Business Plan Summary
JOURNEYPERSON BUSINESS START PROGRAM Business Plan Summary The business plan summary has been prepared for you to use as an alternative to submitting a business plan. Please ensure all aspects of the summary
Developing Business Plans and Funding Proposals
The best source of information and training on Aboriginal finance and management The Aboriginal Finance and Management Capacity Development Series Developing Business Plans and Funding Proposals A Practical
Business Plan Worksheet
SKILLSPEI First Steps for Business Owners Business Plan Worksheet Page 1 of 28 Business Plan Worksheet This outline is designed to assist you in developing a business plan, which will help you determine
Rural Entrepreneur Assistance (REA)
Rural Entrepreneur Assistance (REA) Eligibility Criteria A. APPLICANT 1. Must be aged 18 or over, eligible to work in Canada, and a Manitoba resident. 2. Must develop and submit a sound business plan which
PROJECTING YOUR CASH FLOW
THE BUSINESS ENTERPRISE CENTRE S GUIDE TO PROJECTING YOUR CASH FLOW The Business Enterprise Centre is a member of Last updated 16 Jan 2015 TD Page 1 of 26 Preface A cash flow statement reports the outflow
SMALL BUSINESS OWNER S HANDBOOK
SMALL BUSINESS OWNER S HANDBOOK PART II: FINANCIAL PLANNING FOR SMALL BUSINESSES Introduction Financial Planning Methods of Financing Your Business Other Types of Funds & Financing How to Approach Lenders
Business Plan Checklist & Outline
Business Plan Checklist & Outline 1 DESCRIPTION OF THE BUSINESS The objective of this section is to explain: What the business is all about If this business is part of a franchise, provide us with the
BAIC. Business Start-Up Kit: Forms & Checklists
BAIC Bahamas Agricultural & Industrial Corporation Business Start-Up Kit: Forms & Checklists Facilitating Business Development in The Bahamas PREFACE The Business Services Department BAIC continues its
Assumptions Worksheet
Cash Budget, Page 1 Exhibit IV Cash Budget Assumptions Worksheet Name of Business: Preparer: Date: Use these guidelines in preparing your assumptions: Minimum Cash Balance 1. The amount of cash required
Financial Statements Tutorial
Financial Statement Review: Financial Statements Tutorial There are four major financial statements used to communicate information to external users (creditors, investors, suppliers, etc.) - 1. Balance
Chapter 1. Introduction to Accounting and Business
1 Chapter 1 Introduction to Accounting and Business Learning Objective 1 Describe the nature of a business, the role of accounting, and ethics in business. Nature of Business and Accounting A business
Guide to Financial Ratios Analysis A Step by Step Guide to Balance Sheet and Profit and Loss Statement Analysis
Guide to Financial Ratios Analysis A Step by Step Guide to Balance Sheet and Profit and Loss Statement Analysis By BizMove Management Training Institute Other free books by BizMove that may interest you:
5.2 BUDGETING; CASH FLOW FORECASTS. Introduction To Budgets And Cash Flow Forecasts. Cash Flow Forecasts. Budget And Cash Flow Exercises
52 FUNDING 5 BUDGETING; CASH FLOW FORECASTS Introduction To Budgets And Cash Flow Forecasts Cash Flow Forecasts Budget And Cash Flow Exercises Cash Flow Exercises P 168 INTRODUCTION TO BUDGETS AND CASH
Financing Entrepreneurial Ventures Part 1 Financial Plan & Statements
Financing Entrepreneurial Ventures Part 1 Financial Plan & Statements Barbara Peitsch Program Director, Univ. of Michigan Peter Scott Professor of Entrepreneurship/Consultant August 2015 Economic Empowerment
BUSINESS PLAN GUIDELINES START MY OWN BUSINESS
BUSINESS PLAN GUIDELINES START MY OWN BUSINESS 1. Cover Page and Table of Contents The cover page of your business plan should include contact information such as your name, the name of your business,
*Financial Assessment Process Will Starting/Expanding Business Make Financial Sense?
Research & Writing a Business Plan Financial Assessment Small Business Development Center University of Wisconsin Oshkosh College of Business Tel. 1-800-232-8939 (In Oshkosh, (920) 424-1453) Web Site:
Business location Expected start-up date Form of ownership
Disclaimer The material is provided for information purposes only. It does not represent complete business planning, legal, accounting and other business advise. It is recommended that appropriate business
DEPARTMENT OF SOCIAL SERVICES DIVISION OF LICENSING PROGRAMS. BUDGET PLANS FOR OPERATION OF A CHILD DAY CENTER (Model)
DIVISION OF LICENSING PROGRAMS FOR OPERATION OF A CHILD DAY CENTER (Model) A. Start Up Costs Renovation of Property Furniture Equipment Supplies (Initial Stock) Children's Supplies Cleaning and Maintenance
MODULE 6 Financial Statements
Introduction. 102 Projected Outcomes 103 Facilitators Notes. 104 What is Accounting. 104 The Accounting Equation.. 105 Accounting Terminology 106 Assets 106 Liabilities. 106 Owner s Equity, Partner s Equity,
Business Plan Template
Business Plan Template Why have a Business Plan? The real value of your business plan is to empower you in a systematic way to comprehend the dynamics of your business. It enables you to review your business
Need to know finance
Need to know finance You can t hide from it Every decision has financial implications Estimating sales and cost of sales (aka direct costs) Gross Profit and Gross Profit Margin (GPM) Sales cost of sales
SKILLS ONTARIO TECHNOLOGICAL SKILLS ENTREPRENEURSHIP COMPETITION Guide to Completing Your Business Plan
SKILLS ONTARIO TECHNOLOGICAL SKILLS ENTREPRENEURSHIP COMPETITION Guide to Completing Your Business Plan Congratulations on deciding to enter the Technological Skills Entrepreneurship Contest This provides
How To Prepare A Business Plan
How To Prepare A Business Plan A Step By Step Guide North Central Development P.O. Box 1208 Thompson, Manitoba R8N 1P1 Phone: 204 677 1490 Toll Free: 1 888 847 7878 Fax: 204 778 5672 E mail: ncd@northcentraldevelopment.ca
PERSONAL FINANCIAL STATEMENT
PERSONAL FINANCIAL STATEMENT As of, 20 BUSINESS PLAN GUIDELINES Name: Residence Phone: Residence Address: City, State, Zip Code: Social Security Number: PERSONAL ASSETS PERSONAL LIABILITIES Cash in Bank
STATEMENT OF CASH FLOWS AND WORKING CAPITAL ANALYSIS
C H A P T E R 1 0 STATEMENT OF CASH FLOWS AND WORKING CAPITAL ANALYSIS I N T R O D U C T I O N Historically, profit-oriented businesses have used the accrual basis of accounting in which the income statement,
Tax Return Questionnaire - 2014 Tax Year
Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire
Title Writing A Business Plan
Title Writing A Business Plan This A Business is where Plan the helps Paragraph you evaluate Should the Startasdfa feasibility of a new business idea in an objective, critical, and unemotional way. It
CHAPTER 9: ACCOUNTING
CHAPTER 9: ACCOUNTING A. Business Vocabulary In Chapter 9, you'll encounter some terms that relate to accounting. Before you begin working with the chapter, browse through the pages and look for the bolded
(a) (i) Marking Scheme: 1 mark for definition and 1 mark for example.
T A S M A N I A N Accounting C E R T I F I C A T E Subject Code ACC5C O F E D U C A T I O N Question 1 T A S M A N I A N Q U A L I F I C A T I O N S A U T H O R I T Y (a) (i) Marking Scheme: 1 mark for
SMALL BUSINESS PLANNER
SMALL BUSINESS PLANNER As a business owner, you will spend a great deal of time considering your business, how it will look in the beginning and how it will look in the future. Writing a business plan
Business Start-Up Basics II
Business Start-Up Basics II P R E B U S I N E S S P L A N P R E P A R A T I O N Presented by: SBDC Business Advisors Lisa Hutson Ana Badillo Susan Patton Agenda 1. Determine financing needs a. Discuss
Tax Return Questionnaire - 2013 Tax Year
Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire
3. If you received any interest from a "Seller Financed" mortgage, provide: Name and Address of Payer Social Security Number Amount
Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire
UNITED STATES BANKRUPTCY COURT NORTHERN & EASTERN DISTRICTS OF TEXAS REGION 6 MONTHLY OPERATING REPORT
ACCRUAL BASIS JUDGE: UNITED STATES BANKRUPTCY COURT NORTHERN & EASTERN DISTRICTS OF TEXAS REGION 6 MONTHLY OPERATING REPORT MONTH ENDING: MONTH YEAR IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED
FINANCIAL INTRODUCTION
FINANCIAL INTRODUCTION In earlier sections you calculated your cost of goods sold, overhead expenses and capital cost in order to help you determine the sales price of your product. In your business plan,
Balance Sheet Accounts
Page 1 of 6 Balance Sheet Accounts The Chart of Accounts is normally arranged or grouped by the Major Types of Accounts. The Balance Sheet Accounts (Assets, Liabilities, & Equity) are presented first,
Instructions for E-PLAN Financial Planning Template
Instructions for E-PLAN Financial Planning Template The EPLAN template will assist you in preparing financial projections for your existing business. The template uses Microsoft Excel to prepare your projected
Business Plan Outline
Business Plan Outline Submitted To: The Community Development Transportation Lending Services, Inc., CDTLS Insert your Business Logo Here (if you have one) Insert Your Business Name Here Phone Number Here
PROFIT & LOSS BEFORE. INCOME Fleet Income 10 cars $ 75,000 Recommended tip $ 15,000 TOTAL. $ 90,000 PERSONNEL Gross Admin/accounting salaries $ 16,200
PROFIT & LOSS BEFORE INCOME Fleet Income 10 cars $ 75,000 Recommended tip $ 15,000 TOTAL $ 90,000 PERSONNEL Gross Admin/accounting salaries $ 16,200 Payroll taxes benefits processing $ 3,000 CHAUFFEURS
FULLER LANDAU LLP. Tax Return Questionnaire - 2014 Tax Year. Name and Address: Social Security Occupation Number:
FULLER LANDAU LLP Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return
===============================
Business Plan Pages: 09 Work Al. Izzi / 131 Ellison Street / Paterson / 973-754-8695 / Correo Electronico izzaji@aol.com =============================== Cover Sheet Business Plan Begin the Plan with a
Chapter 4. Completing the accounting cycle
1 Chapter 4 Completing the accounting cycle 2 Learning objectives 1. Prepare an accounting worksheet and describe its purpose 2. Prepare a classified balance sheet and explain the major headings 3. Explain
PREPARING FINAL ACCOUNTS. part
15_1312MH_CH09 27/1/05 8:38 am Page 87 PREPARING part 3 FINAL ACCOUNTS 9 The final accounts of sole traders 10 Accounting principles, concepts and policies 11 Depreciation and fixed assets 12 Bad debts
How to Assess Your Financial Planning and Loan Proposals By BizMove Management Training Institute
How to Assess Your Financial Planning and Loan Proposals By BizMove Management Training Institute Other free books by BizMove that may interest you: Free starting a business books Free management skills
Account Numbering. By separating each account by several numbers, many new accounts can be added between any two while maintaining the logical order.
Chart of Accounts The chart of accounts is a listing of all the accounts in the general ledger, each account accompanied by a reference number. To set up a chart of accounts, one first needs to define
FREQUENTLY ASKED QUESTIONS
FREQUENTLY ASKED QUESTIONS 1. Do I have what it takes to own/manage a small business? You will be your own most important asset, so an objective appraisal of your strengths and weaknesses is essential.
METRO. Fiscal Year 2013 Monthly Board Report. June 2013 (Third Quarter Fiscal Year-to-Date)
METRO Fiscal Year 2013 Monthly Board Report Revenue Expense Ridership Performance (Third Quarter Fiscal Year-to-Date) 7/16/2013 Table of Contents Section A Section B Section C Section D Section E Section
Revolving Loan Fund for Industrial Development Summary *
Owatonna Economic Development Authority (EDA) City of Owatonna Revolving Loan Fund for Industrial Development Summary * Program Purpose: How It Works: Project Eligibility: Minimum Requirements: Use of
CONTENTS 1.1 Information Needed 1.2 Other Considerations 1.3 Specific Businesses 1.4 Franchises
1.0 BUSINESS PURCHASE OR SALE CONTENTS 1.1 Information Needed 1.2 Other Considerations 1.3 Specific Businesses 1.4 Franchises 1.1 Checklist Of Information Needed In Evaluation (Due Diligence): Profit and
Model is used to calculate Financial Statements on a Quarterly Basis for a One Year period. Model provides the ability to:
ADDITIONAL REFERENCES AND FINANCIAL MODELS: For more information about financial statements and terms refer to e book, How to Read Financial Statements. Advanced financial models providing 5 year projections