Write A Professional Business Plan

Now that you understand why you need a business plan and you’ve spent some time doing your homework gathering the information you need to create one, it’s time to roll up your sleeves and get everything down on paper. The following pages will describe in detail the seven essential sections of a business plan: what you should include, what you shouldn’t include, how to work the numbers and additional resources you can turn to for help. With that in mind, jump right in.

As a starting point, your plan should include an executive summary, a description of the business, a plan for how you will market and manage your business, financial projections and the appropriate supporting documents.

Here’s an outline of the essential material you may wish to include and supporting documents.

4 parts of a business plan

1. Cover sheet
2. Executive summary (statement of the business purpose)
3. Table of contents
4. Body of the document

 

Business Description

The business description usually begins with a short description of the industry. When describing the industry, discuss the present outlook as well as future possibilities. You should also provide information on all the various markets within the industry, including any new products or developments that will benefit or adversely affect your business.

1.    Description of business
2. Marketing
3. Competition
4. Operating procedures
5. Personnel
6. Business insurance

 

Financial data

1. Loan applications
2. Capital equipment and supply list
3. Balance sheet
4. Breakeven analysis
5. Profit and loss statements
6. Three-year summary
7. Detail by month, first year
8. Detail by quarters, second and third year
9. Assumptions upon which projections were based
10. Pro-forma cash flow