Writing a business plan requires a lot of thinking and time commitment, but it does not have to be hard. Complete each section using the suggestions and questions as guidance. Section 13: Opening and Marketing Marketing Plan Session 13 : Describe your overall marketing and sales strategy including how you plan to get and retain customers. Your competition in this business. What is your expectation of sales? Your business plan provides a map of the future. Yet, the most overlooked step to starting a successful business is creating a business plan.
Conflict of interest management Session 3 : If business is part-time describe your conflict of interest policy and how you will separate your outside job responsibilities from your home-based business responsibilities. This business plan is a universal model suitable for all types of business, which you can customize to fit your circumstances. For example how you would plan to handle a 25% reduction in sales, or new competitions, etc. What markets do they serve? Session 14 : Describe the benefits package you intend to offer your employees. If applicable, show how funds will be used to repay lenders. Include a copy of the job application form and describe the screening procedures you intend to use. Internal Controls Session 11 : Explain your: Intended internal controls and cash controls, check signing policy, strategy for controlling shrinkage and dishonesty and control of incoming merchandise.
Session 14 : Provide a copy of your employee handbook. Licenses Session 5 : List what licenses you will require to go into business. Section 4: Financing Financing Strategy Session 4 : Provide a chart or spreadsheet showing all of the sources of your start-up capital. By creating a business plan, you are writing the narrative of your small business and will be able to clearly share your vision with potential investors, new employees and suppliers. Why will the business work as a home-based business? Your experience in the business? Analysis of Costs Session 11 : What are all of my costs: fixed, variable, product, delivery, etc.
Prepare a plan for the acquisition. Professional Consultants Session 5 : List the names of your lawyer, accountant, insurance agent and any other professionals. It is a key tool in discovery, process, and strategic planning. Training Policies Session 13 : Describe your plans for hiring and training your sales associates. Once you complete your business plan, be sure that key stakeholders review it. Personal Background and Education Credentials Session 2 : Describe yourself, including your education. Your expectations regarding growth and why.
You can type directly over the provided content or delete it as you complete it. Prepare a cash flow projection and pro forma income statement. Pricing Power Session 1 : Explain the unique qualities or circumstances concerning your product or service that will enable you to maintain profitable pricing. The sections will stay separated by page breaks so that your document is well-formatted. E-Commerce Platforms Session 12 : Research and identify the key 3 rd party E-commerce sites that you will list your product or service on.
Session 14 : Outline your initial and ongoing training programs for employees. Section 3: Home Based Business Issues Factors in Selecting the Business Session 3 : Describe your considerations for selecting your home business and include: 1. Describe their participation and responsibilities. Make the case that the market is strong enough to support your acquisition. Section 7: Business Insurance List the business insurance policies you intend to buy to support your business.
Identify alternative locations for purchase or lease. Section 11: Accounting and Cash Flow Accounting Session 11 : Furnish, as a separate exhibit of your starting balance sheet and projected income statements for the first six months to one year. Section 6: Licenses and Permits Make a comprehensive list of all licenses and permits you will need to do business in your area. Advertising and Promotion Plans Session 13 : Describe your plans and budgets for advertising and promotions. To make the process of writing a business plan less painful, it helps to see a completed business plan to help you format, conceptualize and determine the ideas and information that should go into your business plan. E-Commerce Budgeting Session 12 : Provide a detailed breakdown of the costs involved in creating, operating and maintaining your e-commerce activities. Provide a checklist of all expense items for input into your cash flow projection.
Growth Trends In This Business Session 1 : Is the market for your product or service growing or shrinking? We suggest completing each section of the business plan after you complete the correlating session in the course. Targeted Market and Customers Session 1 : Describe your customer profile and why customers want or need your product or service. Interview other franchisees and competitors. Be conservative in your forecasts. The People Work Experience Related to My Intended Business Session 2 : Describe your work experience in the business you plan to start including a list of your skills and knowledge, which will be required in your business.
Estimate the equipment, specialized software, and the ongoing annual cost of the communication methods. Operating personnel Session 3 : Describe the personnel and partners who will be involved in operating the business including any family members. Describe how the business or franchise is connected to the vision you outlined in section 2. Section 15: Expanding and Handling Problems Growth Session 15 : Describe your growth: You might include the development of profitable pilot operation, sources of financing, cash flow, an accounting system in place, incentive compensation plan for managers, benefits package and policies, the economics of scale. List your sources of referrals to lending institutions. .
The Competition Session 13 : Describe your strongest competitors and how you intend to compete. E-Commerce Competition Session 12 : Describe how your best competitors utilize e-commerce and your strategy to improve on their practices. The Home Based Business Time Commitment Session 3 : Describe if the business will be a part-time or full-time activity for you. How do you plan to market and sell your goods or services. Provide the job descriptions for all employees you intend to hire. Your list should include mobile telephones, computers, tablets, cellular network access, and internet access with estimated data transfer requirements. Are there any applicable legal restrictions to using your home for a business? Section 12: E-Commerce Session 12 : Describe in detail how you plan to use the Internet in marketing your product or service.