busplan

Before you begin consider four core questions: (write down your answers)

1.        What service or product does your business provide and what needs does it fill?

2.        Who are the potential customers for your product or service and why will they
           purchase it from you?

3.        How will you reach your potential customers?

4.        Where will you get the financial resources to start your business?

What goes in a basic Business plan?

1.         Description of the business (question one)

2.         Marketing (question two / three)

3.         Finances (question four)

4.         Management

Basic Elements of a simple Business Plan

1. Cover sheet
2. Statement of purpose of the business
3. Table of contents

     Describe your business

     How will you Market it ?

     Who is your Competition?

     Operating procedures

     What Personnel is required ? (manager and employees)

     Is Business insurance required ? (probably yes, where will you get it and what
      will it cost)

Financial Data

     Will you need a loan?

     Expected Revenue what will it take and when do you expect to be profitable.

     Costs of goods to purchase

     Selling expenses (advertising)

     General expenses ( salaries, supplies, rent)

     Break even analysis

     Income projections (profit & loss statements)

    Assumptions upon which projections were based (very important)

Supporting Documents may be needed such as:

    Tax returns of principals for last three years Personal financial
      statement (all banks have these forms)

     For franchised businesses, a copy of franchise contract and all
      supporting documents provided by the franchiser

     Copy of proposed lease or purchase agreement for building space
     Copy of licenses and other legal documents

    Copy of resumes of all principals

    Copies of letters of intent from suppliers, etc.

This simple Questionnaire will assist in answering many of the most important questions
in starting a small business. We highly recommend that considerable time be spent
pondering these questions before starting any undertakings or purchasing anything.
WE feel writing down the answer to these questions and saving them will be helpful. If
you can't answer these questions then it may be best that you DO NOT START a
business until you are able to.