Aside from their inherent benefits, business plans are also helpful when speaking to lenders and investors about startup funding. When pitching your business plan to lenders, you must have an accompanying business plan proposal, whether it be as simple as a prepared speech or as in-depth as a full slideshow presentation. Create an introduction to your proposal. Begin your proposal by thanking your hosts and quickly introducing yourself and anyone else from your team in attendance.
A business plan is an effective tool to gauge how the business is performing and progressing toward its goals. It is also important to note that for any business that plans to seek outside financing, a business plan is a required part of a loan application.
Business plans can vary depending on the industry, but certain sections are necessary for any business plan. Executive Summary The executive summary is one of the most important parts of a business plan.
According to the Business Link website, many lenders and investors make their decisions whether to fund a business from reading the executive summary.
The summary outlines the intended business and how it plans to become a major player in its industry. Although it is the first section in the business plan, it is often written last so it incorporates everything included in the plan. Business Description Just as the title indicated, this section describes the business.
It includes the type of business, its chosen legal structure and where the business will be located. The section should also include the principal owner's information and other specific details about the business, such as how many employees the business intends to have, products and services offered, and a brief overview of the industry as a whole.
Also, as mentioned on the Entrepreneur website, is it wise to describe the current industry outlook, along with the future industry outlook. Management This section outlines the whole management team for the business.
If the business will have managers and specific key players, they should be listed in this section. For example, if the business will have an operations manager, sales manager, lead salesperson and a finance director, these people should be included in the plan as should their experience in the position.
As an addendum, resumes of the management group should be included with the business plan. Financials Another vital part of the business plan, the financial section includes projection of the business' income.
The section should include projections for at least two years, though up to five years is acceptable. The first year projections should be monthly, while the remaining years can be an annual accounting. The type of financial documents included in this section include income statements, a list of assets and a plan for purchasing major assets.
Marketing And Sales Marketing and sales strategies are outlined in this section.
Detail your business' target market and how the business plans to reach them. This should include any proposed marketing and advertising campaigns, and the media the business plans to utilize -- radio, television, the Internet or newspapers -- to reach its target audience. This is also the section where the business identifies its competition in the market, describes the competition's strengths and weaknesses, and explains the plan to set itself apart from the competition.
Francis is a freelance writer with over 20 years experience, and a small business consultant and jewelry designer.
Her jewelry design company, KAF Creations, has been in operation since Oct 03, · Business Proposal Template; Following a standard business plan outline will keep you on track, and save you from botching your best chance at getting your business funded.
You’ll want to cover the technology you plan on using, your business location and other facilities, special equipment you might need, and your roadmap for getting /5().
Is Your Proposed Location Appropriate for What You Plan to Do There? When choosing business space, the biggest consideration is sometimes not where it is but what it is.
The building facilities need to be appropriate for (or adaptable to) your business. the time to plan ahead, many pitfalls will be avoided and needless frustrations will be eliminated.
Second, the business plan is a requirement if you are planning to seek loan funds.
Sample Business Plan Employee Wellness Program for (location) VA Hospital. Table of Contents. individual meetings with employees and conduct routine business. Description For years, (location) Proposed Plan Method Timeline.
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Sample business proposals are complete sample business proposals which assist writing your own business proposals.
Get over proposal samples, templates and more. A business plan is the roadmap for a business. A business plan is an effective tool to gauge how the business is performing and progressing toward its goals.