Start-up costs are things like office space lease, equipment to purchase and other resources needed to launch your business along with conservative estimates. In this section you need to go a step further by detailing financial projections as a justification of your costs. It is a living breathing document that changes and evolves along with your company.Be sure to update it on a regular basis so that it’s always current.Business plans are often required when seeking funding from banks or Angel investors.
Discuss which business structure you will have such as sole proprietor, general partnership, professional partnership or limited partnership.
And be sure to include information about the location(s) of your business as well.
This portion of your business plan should be one to two pages long.
Without a clearly-defined plan to attract, win and retain business, your company may not grow and thrive.
It’s critical to complete an in-depth analysis of market conditions.
This information will reveal how successful your business might be.
It: you’ve completed the other steps, enabling you to highlight the key information from each part of the plan.
This portion is typically about a page long and includes a paragraph or two about each of the other elements discussed in this document.
That’s why this information is critically important.
One aspect of this involves deciding which channels will work best when promoting your product or service as well as specifying your use of resellers, distributors or sales reps.