Business Plan Check List

Tip: You must sell the reader on the management team!The reader is trying to determine the ability of the management team to make this venture a financial success.

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When setting up a new business, there's a lot of information you need to consider.

The starting a business checklist will guide you through important steps, including: The checklist companion provides a handy list of the government agencies referenced in both checklists.

Industry Definition Describe the Nature of the Industry Detail the Size of the Industry [Total Sales in Dollars] Detail the Industry Growth Rate Address the Industry Trends Address Industry Seasonality Address Industry Trade Shows and Conventions Address Industry Opportunities Address Industry Threats Primary Competitors Identify Your Major Competitors Compare Your Major Competitors with Your Business [Price, Target Market, Location, Hours, Online, Features, Value Added Services, Warranties, Partners, Advertising & Promotions, Distribution, & Suppliers] Compare the Strengths & Weaknesses of Your 3 Major Competitors with Your Business Market Size Detail the Size of the Target Market for the Business [Total Sales in Dollars] Summarize Target Market Studies Market Growth Detail the Target Market Growth Rate Address the Target Market Trends Customer Profile Describe the Customer Profile of the Target Market Identify the Target Market by Geography [International, National, Regional, or Local] Discuss Who makes the Buying Decision Discuss Why the Buyer makes the Purchase Decision Identify Major Customers [Anyone Who Purchases 10% or More of Total Sales] MARKETING PLAN You need to discuss the competitive advantages and weaknesses of the business in this section.

Describe your pricing policies compared to the competition s pricing policies, address the distribution channels, present the promotion plan for your products and/or services, and detail your program for obtaining customer feedback and improving the quality of your products and/or services.

So, don t describe them in subjective terms such as a successful manager for 15 years.

Provide the hard data that supports the creditability of the management team.More information Business Plan Guidelines The following Business Plan Format checklist is meant as a guideline only listing the most important sections of the business plan in the order in which they will likely appear More information How to Write a Business Plan Small Business Development Center (SBDC) A well-written comprehensive business plan forms the basis for the success of any business venture.The business plan is a written More information Business Plan Basic Template Steven Stralser Ph. The Center for Professional Development Voice: 8 email: [email protected] form of every good business plan, although More information Business Plan Outline Submitted To: The Community Development Transportation Lending Services, Inc., CDTLS Insert your Business Logo Here (if you have one) Insert Your Business Name Here Phone Number Here More information New York Start UP!Keys to Success Detail the Risk Factors that are Critical to Success Discuss the Contingency Plans for Risk Mitigation [Sales Goals not be Reached, etc.] Future Plans Address any anticipated Future Changes in Business Strategies Summarize the Customer Profile for Future Target Markets Address how the Business will move into Future FINANCIAL ASSUMPTIONS In the introductory paragraph of this section, specify the Amount of the Request, the Breakdown of the Proceeds [Equipment, Marketing, Working Capital, etc.], the Type of Request [Loan, Investment, etc.], the Repayment Terms Requested, and any Investor Exit Strategy.Beginning Balance Sheet Show the Beginning Balance Sheet Profit & Loss Detail the Sales & Sales Growth Assumptions Detail the Owners Compensation Show the 3-Year Summary Profit & Loss Statement [Investor Proposal = 5 Years] Balance Sheet Detail any Anticipated Major Changes from Beginning Balance Sheet [PP&E, Loans, Equity, etc.] Show the 3-Year Summary Balance Sheet [Investor Proposal = 5 Years] Cash Plan Detail Cash Sales Estimate Detail Credit Sales Estimate Detail Accounts Receivable Credit Terms, & Collection Days [Document Source] Discuss Days Inventory needed at all Times Detail Supplier Terms Detail New Borrowings Detail New Equity Infusions, Dividends, and/or Distributions Show the 3-Year Summary Cash Plan [Investor Proposal = 5 Years] APPENDICES The following is a list of items recommended for inclusion in the appendices: Monthly Balance Sheet Years 1, 2, 3, 4, & 5 Monthly Profit & Loss Years 1, 2, 3, 4, & 5 Monthly Cash Plan Years 1, 2, 3, 4, & 5 Breakeven Chart Equipment List Product Brochure Sample Advertising Customer Testimonials Owners Resume Industry/Market Research Information CONCLUSION Facts are supported with sufficient independent documentation.Remember the major purpose of this section is to entice the reader to read the entire plan.It must sell the reader on the economic opportunity of this idea and your ability to make this venture successful.2013 Business Plan Competition Company Profile Company Name: Year Founded: Contact Name: Address: City State Zip: Target Market: Customer Problem: Email: p: f: URL: Industry: # Employees: More information Business Plan Guide for a Small Business A Business Plan is a written document that describes the path of your business venture.It describes what you want to do and how you plan to do it, usually covering More information The Business Plan What is a Business Plan?Business Opportunity Paragraph #1 Define the Industry Summarize the Industry Trends Summarize the Industry s Competitive Environment Business Opportunity Paragraph #2 Provide the Customer Profile Identify Why the Customers Buy Identify the Location of the Target Market Identify the Size of the Local Target Market Product/Service Paragraph #1 Provide a Summary Description of the Products/Services Summarize the Major Features of the Products/Services Summarize the Significant Benefits of the Products/Services to the Customers Address the Uniqueness of the Products/Services Product/Service Paragraph #2 Summarize the Business Protection [Patents, Trademarks, Copyrights, etc.] Summarize the Sales History of the Products/Services Summarize the Marketing Strategies Current Business Position Paragraph #1 Address the Stage of Business Development [Concept, Start-up, Prototype, or Production] Provide the Start Date for the Business Address the Legal Structure of the Business Address the Ownership of the Business Current Business Position Paragraph #2 Identify the Management Team Summarize the Management s Experience Summarize the Management s Accomplishments [Sales, Profits, Management Awards, etc] Financial Potential Paragraph Provide a Bar Chart summarizing the yearly Sales, Gross Profit, & Net Income Financing Request Paragraph Specify the Amount of the Request Specify the Breakdown of the Proceeds [Equipment, Marketing, Working Capital, etc.] Specify the Type of Request [Loan, Investment, etc.] Address the Repayment Terms Requested [Loan] Address the Type of Ownership Being Offered [Investment] Summarize the Exit Strategy [Investment] COMPANY BACKGROUND You need to provide a detailed description of the business in this section.Discuss the company history, present the current position and key objectives of the business, and identify the ownership interests.

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