Business Plan Writing Instructions Entrepreneurship Business Plan Writing Instructions

I. Executive Summary

II. Company Description Business Plan Writing Instructions

Original Business Name What type of business are you starting? Retail-walk-in customers E-tail-selling to customers online Service-do something for customers rather than sell them a product Manufacturing-making products

Mission Statement Short term business goals Long-term business goals Less than five years Long-term business goals Over five years These include things that the business wants to achieve including sales figures, earning a profit, or a minimum customer base. Keep in mind that they must be measurable!

Product or service description If you are creating a new product is a patent required.

Location City, state Find an available location by searching real estate Web sites What other types of businesses are located within a 5-10 mile radius

Project costs associated with that location Rent or mortgage payment Renovations Licenses

Competitive advantage What makes your business better than your competitors Unique products / services Extended hours

Success factors Identify personal talents / abilities that will help you run the business successfully Describe personal assets Similar to talents but do not have to directly relate to running the business College degree

Financial status Current amount saved Current income These amounts may be fictional yet realistic.

III. Market Analysis Business Plan Writing Instructions

Target Market Identify demographics, psychographics and niche market specifics Age Gender Occupation Lifestyle Income

Pricing Strategy Explain the pricing strategy used to sell your product or service Skimming pricing-high at first then monitor the market to see when you need to adjust the price Penetration pricing-low at first to get customers interested and then raise price after demand has increased Competition pricing-find out what your competitors are charging and charge a similar price

Competition List major competitors Strengths Weaknesses List these for each of at least three competitors.

Market Trends Identify customer trends Eating healthier food Going on vacations Getting in shape

Marketing Strategy General description of your marketing plan with approximate budget planned How will customers know about your business How much will it cost to inform your customers about your business Describe your method of sales and distribution Mall Store Kiosk Online

Marketing Strategy Explain your sales strategy Direct sales Direct mail Describe your advertising strategies Slogans Ads Web sites Promotions Coupons

IV. Management and Organization

IV. Management and Organization Continued

Structure Create an organizational chart that displays the hierarchy of the employees of your business and their job title. You still need to create this even if you plan to be the only employee of the business. You must also include their responsibilities and salaries

Receives profits from sales President / CEO Major decisions Receives profits from sales Cashier (3) Handle customer transactions $8.00 / hour Stock Handler (2) Unload trucks / stock shelves $9.00 / hour Customer Service Rep Handle customer complaints $10.00 / hour Vice President Takes over when president is not available $50,000

Personnel Describe the positions they will hold and how many of each employee you will hire necessary qualifications for each job title the training process hours each job title will be working Number and length of shifts Future labor needs If you are starting with fewer employees than your ideal amount

Development and Production Describe your production process Identify possible suppliers and materials needed to produce your product or service Describe the necessary equipment, how much it costs, and whether you will rent or buy it

Explain your inventory process Manual Perpetual Frequency Describe your delivery procedures If applicable

Government regulations Licenses Permits Zoning requirements Copyrights or trademarks

Insurance Describe potential business risks and what insurance you should purchase to protect the business from those risks

V. Financial Information

Operating Costs Worksheet Start Up Capital / Expenses Worksheet Itemized list of items / expenses Possible sources of funds Projected Income Statement Templates found on my Entrepreneurship page Use the PDF file as a guide Fill in templates with customized information

VI. Supporting Documents

Include these three Résumé Floor plan Business Card Personal – items can be fictional Templates available in Word Floor plan Drawn to scale Electronic format (Word) Business Card Business name, address, phone #, email, and logo or slogan