Below is descriptions as per your business plan • Business Description - Include a description of the form of the business (i. e., sole proprietorship, general partnership, cooperative or corporation). Is the business merchandising, processing or service-related? Is it a new business, expansion or relocation? If it is an expansion or relocation, where is the business currently located? Trace the history of your business: when it was formed, how the products/services were chosen and developed and the role that each principal played in bringing the business to where it is today. • Product Description - Identify the product(s) that will be produced and/or sold. Identify any features that distinguish your product or service from those of your competitors. Also include a brief statement of your pricing strategy. • Market Description - Identify your customers, where they are located and how you intend to target and service them. • Competition - Identify your major and your nearest competitors. Identify your competitive advantage. • Location - Briefly discuss any area characteristics or other factors that may have influenced your decision to choose your specific location. Explain your major location concerns, including availability of transportation and utilities. • Facilities - Include a brief description of the type of facilities that you have or will need. Estimate the amount of land needed, square footage of buildings and any other information that fits your business. • Management/Personnel - Briefly describe any experience you and any other business principals have that would help you develop a successful business. Include a brief description of your key personnel and their duties. Indicate if any special training is needed, and if so will training be provided? Identify what your labor requirements will be during the first and second years of operation. • Financial Needs - Include an estimate of the total start-up or expansion cost for your business. From this, indicate the amount of funding desired and briefly summarize the amount and the use of funds. Also indicate what assets you will use for collateral and the equity to be contributed if such funding is provided. • Earnings - Indicate in money what estimated total market sales would be for the first three years that your business or small business is in operation. From this, indicate what your expected sales and profits are for the first three operating years. Sales and profits should be calculated on a worst-case, best-case and most likely scenario for each year.
Posted on: Tue, 18 Mar 2014 07:59:10 +0000
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