When a person wants to start a small business, they should first sit down and write up a business plan. What are the advantages of writing up a business plan? Plenty! If you can see it all mapped out on paper, you have a better understanding as to what you need to start your business. It can show you start-up costs you didn’t realize you needed. A business plan can show you where the future of your business lies. You can also use it as documentation for a business loan.
How do you create a business plan?
There are many small business counselors available and samples online to go by. Here is a sample business plan that is pretty basic.
1. Describe your business ______________________________________________________.
2. Is there a need for what you want to do? ___________________________________________
3. Long term goal- will your business de in demand in 3 to 5 years? _______________________
4. What will you use for funding? ___________________________________________________
5. Will you need a license? ________________________________________________________
6. Will there be any ongoing education required? ______________________________________
7. What supplies and equipment are needed for the business? _____________________________
8. Insurance required? ____________________________________________________________
9. What other costs? Utilities, etc. ___________________________________________________
10. Who are your targeted customers? ________________________________________________
11. How will you reach your customers? ______________________________________________
12. What marketing costs will be involved? ____________________________________________
13. Any free advertising? __________________________________________________________
14. What makes your business different from competitors? ________________________________
15. What are your working hours? ____________________________________________________
16. Who are your competitors? _______________________________________________________
17. Will customers be coming to your house? ____________________________________________
18. Will you need a room just for your business? _________________________________________
19.Transportation-will you need to purchase a separate vehicle for your business? ______________
20. What will you use to make ends meet until you show a profit? ___________________________
If you need to put together a different kind of business plan, SCORE is a great source to help entrepreneurs start a business.