Business Plans How to……………... Chris McAbee AAMU AGB199 Assignment March 2003 LOCAL RESOURCES AVAILABLE: Chamber of Commerce Professional business organizations.

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Presentation transcript:

Business Plans How to……………..

Chris McAbee AAMU AGB199 Assignment March 2003 LOCAL RESOURCES AVAILABLE: Chamber of Commerce Professional business organizations and clubs Lending institutions Colleges and universities Business incubators INTERNET RESOURCES Unlimited PowerPoint presentation slide 4 – 7 completed using cut and paste from retrieved from the World Wide Web on March 21, 2003

WHY……. WHAT…… Business success is not guaranteed by good sound business plans but they never hurt………………. true success requires…………..………………. motivation, planning, determination and EFFORT

Elements of a Business Plan 1. Cover sheet 2. Statement of purpose 3. Table of contents

I. The Business A. Description of business B. Marketing C. Competition D. Operating procedures E. Personnel F. Business insurance G. Financial data

II. Financial Data A. Loan applications B. Capital equipment and supply list C. Balance sheet D. Breakeven analysis E. Pro-forma income projections F. Pro-forma cash flow ***Estimates of asset requirements and projections of the results of the use of those assets**

III. Supporting Documents Tax returns of principals for last three years Personal financial statement In the case of a franchised business, a copy of all franchise documents provided by the franchisor Copy of proposed lease or purchase agreement for building space Copy of licenses and other legal documents Copy of resumes of all principals Copies of letters of intent from suppliers, etc.

Now we will expand MORE DETAIL

Description of Business Business form Where and when History/experience Special circumstances

PRODUCTS or SERVICES Details WHAT TO WHOM WHEN HOW WHY

FINANCES $$$$$ Needed Where$$$$$$ *BUDGET* BUDGET PRO-FORMA STATEMENTS

MANAGEMENT WHO WHEN HOW EXPERIENCE

CHECK OUT THESE INTERNET SITES: TRY THE TUTORIAL AT: VISIT: Small Business Development Center located at the University of North Alabama in Florence, Alabama

BUSINESS PLANS are NOT required but they sure help you find the help you need to succeed

IMAGINE RESEARCH DEVELOP PLAN COMPLETE