How to Write a Start-up Business Plan
You are ready to open your new business, so you need a good, solid business plan to help you get the needed funding. Having never written a business plan, there are several steps to consider that should not be overlooked when doing so. The following provides some guidance that will help you draft your plan.
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Instructions
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Conduct market analysis. Carefully research what areas your business falls into, such as industrial or hospitality, and explain them in your plan. This section should be two to four paragraphs at most and it should outline where your business fits into the markets.
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Identify your competition. Explain how they compare to you in terms of size. Discuss their current market shares. List anyone who competes with you directly or indirectly. At the end of this section, include a paragraph on your Unique Selling Proposition, or USP. Your USP includes anything, such as better pricing or improved efficiencies, that separate your product or service from the competition.
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Outline your operating procedures. Explain how your business runs. Explain how you intend to supply your customers with a product or service.
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List your personnel. In this section, identify your employees by job type and function. Detail what your employees do and how they do it. Estimate how many total hours of labor your business will require each week and then estimate payroll costs.
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List any equipment you need and explain how it will be used. Note any special tools you need for the business to function. You want a good, concise list of the items you will use everyday.
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Detail your financil data. In essence, explain how much it will cost you to do business. Show each category of your financial statements, breaking down how much the business will cost to run. Include the costs of manufacturing and delivery. Estimate your overhead costs, including rent and untilities, for the next five years. Give investors an idea of what it will cost to maintain your business.
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Bring it together in the executive summary. Note that you write this portion last, but you place it first in the business plan. It's the first thing an investor reads. Use the summary to explain the mission of your business and your vision for its future. You should paraphrase the body of the plan. It should provide a context for what an investor will find later.
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Review. When you're finished, ask someone you trust to read and edit the plan. A fresh pair of eyes will help you see how others will view your business.
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