Tips for Writing a Business Plan

Writing a clear and accurate business plan is a crucial step for anyone looking to open a new business. A well written business plan can help you attract funding for your business startup. In addition, a business plan will help clarify the core ideas of your new startup. There are three key areas that are essential to include in a well writing business plan.

  • The unique selling point of your business (USP).
  • Showing that there is a market for your business.
  • The practicalities and financial feasibility of your business

Ensure your business plan is coherent and free of clutter. Therefore it is imperative to have a clearly defined structure. The following structure can be used as a guide for preparing a business plan

Executive Summary

This section should have a concise breakdown of the core information contained in the following chapters, ideally between 1 – 4 pages.

Company Overview

Provide more detail of your business. Most importantly the structure of operations.

Theme and Concept

If you are opening a restaurant or retail establishment, elaborate on your main theme and concept.

Staff Requirements

How many employees will your business need and for what areas of your business?

Ownership Structure

Are you going to be in partnership with other people or will your company have a different legal structure?

Market Research

Can you demonstrate a demand for your restaurant in your target area and outline your target demographic.

Marketing Strategies

Are you going to utilize social media and other online marketing strategies?

Financial Information

The task of providing financial estimates of your business is essential to a business plan. Such as how much total investment you will need to launch your business. Include your projected overhead along with when you expect your business to start turning a profit.

In conclusion, your business plan should be a blueprint that details how you are going to start and operate your business. If you need a professional who specializes in writing business plans, please contact Shawn Sanchez for a referral.

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