We will send you a Word doc. once you have registered.  You can then answer the questions below and we will help you put your business plan together.

Creating Your Business Plan

Information Gathering Outline

Cover Sheet or Title Page    This will be included in the business plan when it is developed.

Name of your business and your name

• Your contact information - address, telephone number, fax, email or website address.
• "Business Plan" should be written on the title page

Business Plan

Table of Contents - Will be included in the business plan to include all areas below.

Table of Contents

• I. Executive Summary

                                                                                                  

• II. Business Description
• A. Description of Business
• B. Background
• C. Business Goals and Objectives

• III. Marketing
• A. Products & Services
• B. Market Description
• C. Competition
• D. Promotional Plan & Strategy

• IV. Management Structure & Organization
• A. Legal Form & Ownership
• B. Organizational Structure
• C. Risk Management

• V. Financial Plan
• A. Owners Equity and Personal Income Statement
• B. Estimated Monthly Income
• C. Estimated Monthly Operating Expenses
• D. One-Year Profit & Loss Statement
• E. Source & Use of Funds

• VI. Supporting Documents

I.  Executive Summary - This will be written when the plan is put together and will be the beginning of the plan.

The executive summary is an overview of the total plan.  There should be one to two sentences about each of the other parts of the business plan.  This section is written after the business plan is complete. 

Information Gathering begins here:

II.  Business Description

A.  Description of Business

• Describe the business you want to start in detail.

• Name of business and location.

• State days and hours of operation.

B.  Background

• What skills or experience do you have that will benefit you in starting this business? This can be education, experience from past employment in working with others or supervising, managing your household budget, etc.

C.  Business Goals and Objectives

• What are your short and long term goals for the business? Answer the following questions - Where am I going? How am I going to get there? How much will it cost me to get there? How long will it take me to get there? How will I know when I get there?  Goals should be realistic and measurable.  Samples of goals might be to increase sales by 10% by the 6^th month. To increase customer base by 2 each month.  Leave my part time employment by the end of the first year.  Move into a storefront location or office outside my home. Generate $200 a month profit by end of first year.  Etc.

III.  Marketing

In this section you should be able to answer the following:  Who would want/use your product or service?  What is it that they want? When do they want it? Why do they want it? How often do they want it? How much will they pay for it? 

A.  Products and Services

• Describe your product or service.

• How will you price your product or service?

• What is the demand for your product or service? Sometimes it is beneficial for you to ask around your community or send a written survey out to see if your product or service is something needed.  If there is not a market for your business there is no business. 

B.  Market Description: The public library is a great source of information.  Tell the librarian what you are looking to find and she can direct you to Encyclopedia of Associations, Census of Population and Housing, County Business Patterns etc.  The Chamber of Commerce will also have information.

• Who are your customers or your target market?

• What is the geographic area that you plan to serve?

• In that market how many potential customers are there?

C.  Competition: You can start by looking through the yellow pages of the geographic area you plan to serve. Use the attached worksheet to gather your information.  Call or visit the business and act as if you are a customer wanting their product or service to gather information.  You should be able to determine pricing, customer service delivery, products or services they offer, how long have they been in business, etc. Check out the local newspapers to see your competitors advertising technique.

• Who are your competitors in your market area?

• What advantages will your business have over theirs?

• How is their business performing?

• What strengths and/or weaknesses do you see in their business?

D.  Promotional Plan/Selling Strategy: There are many ways to get the word out about your product or service - Newspapers, shoppers, fliers, business cards, brochures, local cable channels, radio, etc.  Make sure you check the costs for comparison.

• How do you plan to sell your product or service?

• What advertising/promotion sources will you use?

• How will you implement your promotional plan?

IV.  Management Structure and Organization

A.  Legal Form and Ownership

• State the legal form of business ownership.

• How will your business be managed on a daily basis? Who will do the scheduling, ordering of supplies, purchasing materials, marketing, making bids, completing invoices, etc.

B.  Organizational Structure

• Where will your business be located?

• Your contact information - address, telephone number, fax, email or website address.

• What will your business phone number be?

• Is there an email address?
• Is a state of Sales Tax permit required or any other licenses or permits?

• Do you have an EIN?
• Will you open a separate checking account for the business and where will it be located?

• What type of record keeping system will be used?

• Who will be responsible for the monthly financial reports?

• Who is your accountant, attorney or people you can turn to for advice?

C.  Risk Management

• What are your business insurance needs?  A call to an insurance agent stating what type of business you plan to operate and asking them for a quote.  If you already have homeowners or renters insurance they may just add a rider to your policy for the business.

V.  Financial Plan

A.  Owners Equity/Personal Financial Statement  

• What equipment/supplies do you already have that will be used in the business and what is their value?

• Include a personal financial statement.  For example:

What amount of income do you have coming in each month?

What are your monthly expenses for household?

B.  Estimated Monthly Income Potential

• What is your estimated monthly income potential?  What is this amount based on?

C.  Estimated Monthly Expenses

• What are your estimated monthly expenses for operating the business?

D.  One Year Profit and Loss

• Provide a one year profit and loss statement.

E.  Source and Use of Funds

• Provide a Source and Use of Funds - this is a list of your financial assistance requests and vendor information.

VI.  Supporting Documents In this section you might include documentation of:

• Quotes from each vendor for your financial assistance requests

• Sales tax permit (if applicable to the business) -Other permits that may be required -
• Business registration form -
• Certificates of training, seminars, education, etc. Resume -
• Letters of reference - Letters of intent -
• Proposed lease agreements --
• Samples of brochures, business cards etc.
• Samples of business forms