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Business Plan
Overview
In general, here’s what a good business plan contains:

Introduction
  • Give a detailed description of the business and its goals
  • Discuss ownership of the business and its legal structure
  • List the skills and experience you bring to the business
  • Discuss the advantages you and your business have over competitors

Marketing
  • Discuss the products and services your company will offer
  • Identify customer demand for your products and services
  • Identify your market, its size and locations
  • Explain how your products and services will be advertised and marketed
  • Explain your pricing strategy

Financial Management
  • Explain your source and the amount of initial equity capital
  • Develop a monthly operating budget for the first year
  • Develop an expected return on investment and monthly cash flow for the first year
  • Provide projected income statements, balance sheets for a two-year period
  • Discuss your break-even point
  • Explain your personal balance sheet and method of compensation
  • Discuss who will maintain your accounting records and how they will be kept
  • Provide "what if” statement addressing alternative approaches to problems that may develop

Operation
  • Explain how the business will be managed day-to-day
  • Discuss hiring, personnel procedures
  • Discuss insurance, lease or rent agreement, and issue pertinent to your business
  • Account for the equipment necessary to produce your goods or services
  • Account for production and delivery of products and services

Concluding Statement
Summarize your business goals and objectives and express your commitment to the success of your business.

Once you have completed your business plan, review it with a friend or business associate, a SCORE counselor at (404) 331-0121, at the SCORE website, a Small Business Development Center representative at (404) 651-3550, or at the SBDC website.

When you feel comfortable with the content and structure, review and discuss with your lender. Remember, the business plan is a flexible document that should change as your business grows.

For more information, visit the SBA website and SBA Guides website.

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