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Business Plan


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Please complete this business plan guide.

Name: Company Name (if known) Address: Phone: Fax: E-Mail Address: 1. Describe the product/service your business is planning to offer. Specifically describe what the value your product/service will bring to your customers. 2. Where will your business be located? What geographic area will it serve? 3. Is your business? New business or Expansion of a current business or Take-over of an existing business or Not sure what the business will be or Other (describe): 4. Is your business going to be? Sole proprietorship or C-corporation or Partnership or S-corporation or limited liability partnership or limited liability company or Nonprofit corporation or not sure. Why are you going into business? Think about financial and non-financial goals.Financial Goals: Non-financial Goals:
1. Who are your potential customers (also known as your target market)? Describe your target market in general demographic terms (such as age, income, and gender). 2. Describe your target market’s buying habits. Think about how often they will purchase your product/service. Think about prices and seasonal buying patterns. 3. List the factors you have considered in choosing your location (such as cost, overhead, traffic flow, parking, zoning laws, building codes, options for expansion, etc.). 4. Describe your main competitors. Include your competitors’ business names, locations, and how well their businesses are doing. 5. Why do you think customers will buy from you? Include product/service benefits and company strengths. What are the differences between your products/services and the competitors’ products/services. 6. How is your product/service priced compared to the competition? Higher or Same or Lower or Don’t know. 7. Who is your competition? 8. Explain how you decided to price your product/service. Include information about how much you expect your costs to be and how much profit you expect to make. 9. Is there a market (need) for your business? What percentage of the market do you think you will get? Think about the markets past growth (last 3-5 years) and future growth (next 2-3 years). 10. How do you plan to advertise your product/service? 11. How will your product/service reach your target market? These are known as your sales and distribution methods. 12. Describe your future customers, locations, and new products.
1. Describe your educational background and managerial experience in this type of business. Include all types of related experience. ATTACH A CURRENT RESUME. 2. Do you belong to any trade or business organizations? 3. What management and staff positions have you identified? What duties will they have? What skills do they need? Have you completed the necessary paperwork? 4. Which records have you thought about using to control your business? Payroll or Sales/accounts receivable or Inventor or Purchases/accounts payable Computer software package (name): Customer relationship management: Other (describe)
1. What equipment and inventory items are required to start and run your business? Attach complete lists, including costs of what you currently own and what you need to purchase or lease. 2. List the potential suppliers of the items you need for your business.
1. What kind of taxes will your business have to pay? Who will prepare your taxes? 2. Have you talked with an insurance agent? What type of insurance do you need? How much will it cost? 3. Which local, state and federal regulations apply to your business? What types of licenses do you need? a. Ohio Secretary of State – business registration – $25
b. Vendors License – sales/use tax registration – $25

PART V. FINANCES (The Business Financing Opportunities attachment will help guide you through this area
1. On a separate sheet of paper, make a list of all the costs you expect to incur.
2. What is the minimum amount you need to take home from the business in order to live? $ per month.
3. When your business makes a profit, how much money are you willing to keep in the business to help it grow? $
4. What will you do if sales do not cover expenses? 5. How much, in total, will you need to start your business? $ 6. Approximately what percent of this money will come from? Personal funds % Borrow from bank % Borrow from family % Private investors % 7. On a separate sheet of paper, explain what the money will be used for. 8. What will you use as collateral against the money you will borrow? Nothing or Car or House or Personal real estate or Other (specify): 9. Are you willing to give up ownership rights in the company or share ownership? 10. Who will be responsible for your debts (your cosigner) if your business fails? Make sure you have consulted with this person. 11. Attached Cash Flow Projections 12. Attached Business Ratios

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