So, you want to start a business – congratulations! Once you get over the initial excitement, it’s time to break down the process of launching your startup into manageable chunks. To do this, you must have a business plan sample.
You might get overwhelmed with the sheer number of items on your to-do list. But not to worry; a business plan sample helps break down your business startup into the primary tasks you need to do to get your business operational.
Ask any successful sports coach how they win so many games, and they’ll tell you they have a unique plan for every single game they coach.
Why you must have a Business Plan SAMPLE OR Template
The one resource that can seriously streamline your startup processes is a business plan template you can consult as you build your company.
Though you might have a general idea of the tasks, you need to tackle, having a sequential well-drafted business plan template in front of you to help know which order to tackle these tasks can seriously increase your success.
And make sure you have all of the most crucial startup processes squared away. Additionally, the precise list of needs will certainly vary with your industry, size, and any defining feature your business boasts.
There are many tasks that all businesses of any shape or size will have to check off to start a business successfully. In closing, a business plan template will accomplish this.
Writing a business plan allows you to carefully think through starting your company to better prepare and handle any challenges.
How To Write A Business Plan
A good business plan template helps you
- Select a Name and Legal Structure.
- Edit your selected Business Plan.
- Obtain your Federal Employer Identification Number (FEIN).
- Open the Company Bank Account.
- Lease Office, Warehouse or Retail Space (if not home-based).
- Obtain Licenses and Permits.
- Hire Employees (if applicable).
- Get the Word Out (Marketing).
- How to setup your Financials (Accounting and Record-Keeping System on excel spread sheets.)
- Systemize and Organize.
- Most importantly Develop a Business Identity.
Startup Business Plan Template
A startup business plan template is the roadmap for structure, run, and grow your new business.
Additionally, a startup business plan template lets you show that you’re serious and understand your business. The plan predicts profits and income streams.
Also, a startup business plan template is complete, thoughtful, and will be one of the most valuable tools in helping you reach your long-term goals.
It gives your business direction, defines your objectives, maps out strategies to achieve your goals, and helps you to manage possible bumps in the road.
Moreover, a startup business plan template will help you work out the goals you want to achieve and the strategies to achieve them.
This means you can focus your resources and energy on what you need to do, rather than spreading yourself too thin.
Finally, the planning process helps you learn about the different forces and factors that may affect your success.
If you’re already in business, it helps you step back and look at what’s working and what you can improve on.
Instead of worrying about the future, a business plan helps to give you a sense of control over your business and your livelihood.
How a Startup Business Plan Template will get your business off to a successful start
Startup business plan templates are essential if it’s your first time to submit a business proposal to a bank, loan company, or future investor.
There is generally no required number of pages for business plans, but they have to be comprehensive of all pertinent aspects of your proposal.
Use the sample and guidelines below to come up with your startup business plan.
Provide a brief background of your business if existing but not, then give a brief explanation as to why you intend to start the proposed business.
Make sure you mention some of your qualifications for running such a business.
Potential lenders and investors are always interested in how you propose to manage your business. As such, your plan must include specific points regarding your management goals and strategies.
You need to indicate, for instance, whether you wish to set up a business as a sole proprietor or to use a partnership or corporation.
It would help if you also created an organizational chart to let investors or lenders know how many employees will work for you and what their job specifications and descriptions are.
This is one of the most important parts of the business plan because it’s here you’ll have to prove the strengths and weaknesses of your business.
This is where you’ll have to submit proof that your business will be profitable and able to match, if not surpass, the competition.
In this part of your business plan, you’ll have to give a list of your company’s products and services.
It would help if you compared it with those offered by your competition in terms of attractiveness, affordability, and value.
It would be best to do extensive research to indicate the size and nature of your competition in your business plan.
Who are your competitors, and where do you currently stand against them?
Naturally, the marketing aspect of your business plan will also include details regarding your industry and market.
What industry barriers do you expect to be a problem for your business, and how do you propose to overcome them? Can you create a profile for your target market?
What strategies will you use to attract the attention of your target market?
This is where you must indicate the pre-operational and startup costs of your proposed business.
Pre-operational costs include but aren’t limited to legal expenses, down payment for rent, and acquisition of the required equipment, supplies, and inventory for doing business.
Suppose you cannot supply the necessary funds for your business. In that case, your business plan must establish the amount of money you will have to borrow and possible sources of external financing.
You also need to list the requirements you’ll have to comply with to become eligible for financing.
The final part of your business plan will provide the necessary figures for your proposed business’s liquidity and profitability.
Return on investment or ROI is one of the most important financial ratios that your potential investors will look for; it lets them know how soon they’ll be able to recoup their investment.
Finally, you need to include projected income statements, balance sheets, and cash flow statements for your proposed business.
If you feel less confident about writing your business plan, consider availing of the services of Right Step.
At Right step, you’ll find startup kits in a variety of Service industries, like Wash & Fold, Maid Services, Janitorial, Landscaping, Packing/Unpacking Services (Local), Mobile Marketing, Social Media Marketing, Personalized Products, Logo Design Services, Food Cart, Food Trucks, BBQ, Senior Home Companion, Temporary Tattoos and a General Business startup kit.
You need to pick one and start making money!
Each Business Kit includes:
Business Startup checklist & Business Startup Video
- Business Formation Setup
- Financial Setup, Business Setup
- Marketing Setup
- Startup Operations
- Opening your Business Operations, AND MUCH MORE.
Industry-Specific Business Plan
Executive Summary, Organization Plan and Products, and Services
Marketing, SWOT analysis and Methods used to contact the target market, AND MUCH MORE
- No Fluff Marketing Plan
- Where You Can Get A Customer Today
- Where You Can Get A Customer Tomorrow
- How You Can develop Marketing Items
- How Should Your Marketing Week Look, AND MUCH MORE
- Cash Flow
- Balance Sheet Income Statement
Right Step is Ready to get you started in business today!
IN CONCLUSION ON Top Business Plan Sample To Help Your Business
Business plan іѕ like а road map.
Here, уоu set уоur targets, identify thе areas оn whісh, greater stress іѕ tо bе laid оn,
chalk оut thе measures tо bе taken аnd provide thеBusinesss with thе ultimate cash flow аnd growth.
If уоu аrе intended tо seek loans tо fund уоur business thеn most оf thе financial institutions wіll ask уоu fоr а sound, feasible business plan.
Aѕ, business plan іѕ а clear refection оf уоur future activities,
іt plays а very important role іn getting уоu loans.
Ifуоu’rее seeking investments іn business thеn уоu require а business plan investment.
Thе potential investors invest іn thе ideas, thе people, thеіr history, thе technology thе entrepreneur іѕ using, thе market analysis, аnd оthеr local factors.
Thе business plan serves thе purpose tо define thе ideas аnd аll thеѕе related factors аnd explain thе concept оfBusinesss tо investors.
Whіle you are working wіth уоur partners уоu require ѕuсh business plan tо define agreements bеtwееn partners аnd convey thе future vision.