Business plan for existing small business

A Sample Plan Business Plan Objective Throughout the process of creating a business plan, you need to keep in mind its objective. Why are you writing the plan?

Business plan for existing small business

Business acquisitions, franchise purchases and newly developed products are just some of the events that might prompt an existing business to create a business plan. Existing businesses use the business plan to monitor their expenses, define their strategies and benchmark their progress.

Create a cover page for your business plan. Include the name of your business, full address and all contact information, including fax number and email address. Complete a general business description for your business. Include resolutions that your business implemented to correct any problems or failures.

Explain the products in depth and highlight the competitive advantages and disadvantages of your products. Identify any strategies or steps that your business has taken to overcome disadvantages in your products.

Complete a primary and secondary analysis of your industry, industry trends, target market, target market demands and competition. Use resources, such as demographic profiles and census data, to complete your secondary analysis.

Refer to your own business data and analysis to complete your primary analysis. Provide detailed information, including statistics and sources, to support your findings and strategies.

Identify and explain the demographics of your target market. Explain the features and benefits of your products, as well as why these features and benefits appeal to your target market. Identify your business competitive advantages and disadvantages and explain the strategies that your business will use to compete against the competition.

Explain the advertisement methods that your business will use to capture its target market. Define the strategies that your business will use to retain its customers, as well as generate referral business. Include price points and expenses that will generate from these strategies.

Include information on the expenses that pertain to each, such as mortgage or lease payments, utilities and equipment warranties. Provide details about your business legal requirements, such as permits, zoning compliances and environmental regulations.

Explain how your business completes its operations, maintains quality, controls inventory, develop products and services customers. List the responsibilities and functions of your executive and senior employees.

List the number of employees that your company maintains and identify each department. Create an organizational chart for an easy visual reference. Identify the pay rates for each employee, along with the training methods and requirements for each employee.

Identify any vacate positions and include information on the pay ranges for those positions. Provide information on your business finances. Complete a personal financial statement for each owner of your business. Provide a balance sheet, income statement and cash flow statement for your business.

Include a five-year projection if your company seeks to include long-term goals and projections. Complete an executive summary for your business plan. Create a table of contents and an appendix for the plan.

Generate the table of contents so that it references the exact pages to where each section begins. Include supporting documents in the appendix, such as receipts, tax returns and accounts payable schedules.

Label each supporting document accordingly and organize the documents so that they are organized in the order in which they are referenced. References 2 MasterCard International: The Plan About the Author Writing professionally sinceCharmayne Smith focuses on corporate materials such as training manuals, business plans, grant applications and technical manuals.Writing a Business Plan Georgia State SBDC 2 Why Write a Business Plan?

Business Plan Objective

A Business Plan helps you evaluate the feasibility of a new business idea in an objective, critical, and unemotional way. A business plan may be an annual plan for managing your business. Or a business plan may be primarily developed for attracting capital. There are exceptions, and often the difference between annual plans and business plans becomes muddled.

Banks and other lenders or investors may require a copy of each year’s annual plan. Management may . The JCCC Kansas Small Business Development Center recognizes the support of the U.S.

Small Business Administration and the Kansas Department of rutadeltambor.com support given through such funding does not constitute an express or implied endorsement of the opinions, products or services of the co-sponsor(s) or participants' opinions, products or services.

business plan for existing small business

We support America's small businesses. The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business. We support America's small businesses.

The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business. A Business Plan is not simply a description of your business. It includes market analysis, marketing strategies, financial goals, funding and liability information, and company structure details.

What this means is that you'll need to do a bit of work before writing to be able to create a comprehensive plan. Virtual Business Plan Walk through the design of a business plan.

SBA Business Planning Guide – Careful business planning is fundamental to success. The Small Business Planner includes information and resources that will help you at any stage of the business lifecycle.

How to Write a Business Plan for a Small Business: 14 Steps