Professional Documents
Culture Documents
Nunnally.
Do you know your financial position, your credit rating, your investment
costs? The author's No Money Down: Financing for Franchising covers
these topics in detail for any business, not only franchising.
Before going forward, it is assumed you have done the basic homework for
each of the elements above and that:
You are ready to go into business
You have your basic business concept
You have decided on your basic product(s) or service(s)
You have your location and facility
You have a business accountant and attorney
You understand your financial position and your investment costs
While you may have already explored the following business concepts during
your startup stage, you will be reconsidering and reevaluating these as you
develop your business plan:
Vesting
Business objectives
Mission statement
Keys to success
Industry analysis
Market analysis
Competitor analysis
Strategies
Marketing plan
Management
Organizational structure
Operations
Financial pro formas
Break-even analysis
Financial requirement
Don't be concerned if you aren't familiar with all of these concepts. Writing a
business plan for your new business is a straightforward process that you can
move through step by step to completion. The whole process can be
accomplished in two to four weeks, depending on your business.
A Professional Presentation
In surveying many successful business plans, you will find that no one format
fits them all. Depending upon the nature of the business, certain topics take
precedence over others. Often the owners write their business plans, since
they know the most about their business operation and management and
they have learned what elements to include to make the best impression.
A complete business plan for a startup company is best organized according
to the logical development of the business and is comprised of at least 12
basic components.
1. Executive Summary: By definition, to summarize the elements of your
business
12. Exhibits: By definition, to close the plan and separate any supporting
materials that would otherwise interrupt the flow of the story
A professionally written startup business plan has all 12 of these basic
sections presented in the order of the outline. Most of the segments listed will
also be reflected in the same order of presentation, although there may be
slight variances depending on your type of business. When your business
plan is written to obtain financing, the financial requirement section may be
tailored either as a loan request or as an investment offering proposal, and
then titled accordingly.