Business Plan Worksheets: History and Description of the Business: When was the business started? ______________________________ Why was the business started? What need is the business going to fill? What solutions is the business going to provide to the customers? What is the demand for the business? Currently? Future? 1 Goals: Provide a vision for the business – where do you see the business going? List the short-term goals: List the long-term goals: 2 Products & Services: Provide a description of the initial products that your business is going to offer-include the % of total sales you expect each product to make up: Provide a description of the future products that your business is going to offer: Do you have any proprietary features: i.e. copyrights, trademarks, patents or exclusive territory rights? Unique Features of the Business - Methods of Differentiation: Provide a description of how your business’s products are different than all the others in the market. Why will customers frequent your business instead of XYZ Company’s? 3 Industry Analysis: What are the growth trends within the industry? How big is the overall industry (total $ sales, # of customers, # of potential customers)? What are the typical operating procedures within the industry? Pricing? Distribution? Promotional/advertising? 4 Market Definition: What is your market area? (local, state, regional, national, global) What is the size of your market? What is the general make-up of your market? Other information: Competition Analysis: Fill out this sheet for each competitor identified. Some of the data may be impossible to obtain; therefore, estimates will be necessary. Company: ______________________________________________________________ Street Address: __________________________________________________________ City: __________________________ State: _______________ Zip: _______________ Years in Business: ________________________________________________________ Telephone: (_____) _____ - _______ Fax: (_____) _____ - _____________ E-mail address: __________________________________________________________ Services offered: 5 Estimated size: • Annual Sales • Market Share • Number of employees Advertising methods used (give names of newspapers, radio stations, outdoor locations, Internet sites and so on): Greatest perceived strength: Greatest perceived weakness: How will you compete with this company (i.e., what are your competitive advantages)? 6 Major Influences on the Business and Industry: List any possible factors that may affect your business both/either as a positive or negative, economic factors, laws, regulations, etc. Key Success Factors: List the major things that it takes to becomes successful within the industry: What are the main obstacles to overcome within the industry and how are you addressing them? 7 Overall Marketing Strategy: What will be your overall marketing strategy? Low-cost Leadership Strategy To offer prices lower than your competitors for similar products/services Product Differentiation Strategy To offer products/services that are different from competition in ways other than price Focus Strategy To appeal to segment of the market rather than the total market Why have you chosen this strategy? What is the overall marketing strategy of your three major competitors? Competitor Strategy 1. _____________________________________________________________________ 2. _____________________________________________________________________ 3. _____________________________________________________________________ 8 Identify your target market(s): your potential customers. (Complete for each target market) Consumer ___ Commercial ___ Industrial ___ Other (specify) _____________________ If commercial or industrial, describe the companies you will target: Type(s) _________________________________________________________________ Location _____________________________________________ Size ______________ If customer, describe the people you think will account for most of your business. Male/Female ___________________ Age Range _______________________________ Income Range __________________ Occupations ______________________________ What geographical area will your business serve? How many potential customers live in the area you have just defined? What is your estimate based on? Do you expect for your customer population to increase, remain static or decline? Why? What are the needs and wants of your target market(s)? 9 What is your information based upon? What criteria does your target market use in making calculations? What is your information based on? 10 Promotion How will you promoted your business to potential customers? (Check all that apply.) ________ business cards ________ telemarketing ________ personal selling ________ trade shows ________ printed materials (as listed below) Personal Direct Distribution Mail * Letters ____________ ______________ Flyers ____________ ______________ Brochures ____________ ______________ Catalogs ____________ ______________ ________ media advertising (specify): newspapers _____________________________________ consumer magazines _____________________________________ trade journals _____________________________________ Yellow Pages _____________________________________ industrial directories _____________________________________ mail order catalogs _____________________________________ radio _____________________________________ TV (cable/network) _____________________________________ Billboards _____________________________________ Co-op advertising _____________________________________ Other (theatre programs, __________________________________ church bulletins, etc.) _____________________________________ ________ publicity (press releases, press conferences, public appearances, speaking engagements, etc.) ________ public relations (networking, open houses, newsletters, sponsorships, donations, etc.) ________ promotions (toll-free telephone numbers, giveaways, free samples, coupons, discounts, closeouts, incentives, point-of-purchase displays, store signs, etc.) ________ other (specify) ___________________________________________ * If you plan to use direct mail, how will you establish a mailing list? 11 Pricing In determining your prices, have you considered: YES _____ _____ _____ _____ _____ _____ Cost of materials and supplies Cost of labor Operating expenses (overhead) Planned profit Competition Value perceived by customers NO _____ _____ _____ _____ _____ _____ How will your products and services be priced in comparison to your major competitors: higher, lower, or comparable? Why? If you use a credit card system, what will it cost you? Have you “shopped” for discount rates? If you extend credit (allow customers to buy on open account), what collection system will you establish? Who will be responsible for this function? 12 Distribution What distribution channel will you get your products/services to your customers? (Check all that apply.) ________ ________ ________ ________ your store your sales force retailers wholesalers ________ ________ ________ ________ distributors agents/brokers mail order home party plan If you sell directly, how many sales personnel will be needed to achieve your projected sales for Years 1 and 2? If you sell indirectly, what will this method of distribution cost you? Who will be responsible for providing service and warranties? If you assume this responsibility, what will it cost you? What is your estimate based upon? 13 Location What location characteristics are important for your type of business? Consider: zoning regulations, local ordinances, visibility to pedestrians and/or motorists, proximity to areas where your potential customers live or work, proximity to other businesses that attract your potential customers, access to major highways. What are the major advantages and disadvantages of your location? Consider: in addition to the factors listed above, current and projected population size/demographics, number and strength of competitors, travel time, personal convenience, economic condition of the area, crime rate, fire and police protection, cost and terms of buying or renting, building size and condition, occupancy, history of the building. Advantages: Disadvantages: Address: _______________________________________________________________ City, State, Zip Code: _____________________________________________________ Type of zoning: __________________________________________________________ Total square footage: ______________________________________________________ 14 Site Evaluation Use this form to gather information on each potential business location. Cross-check with the information on the “Location Needs Assessment” to evaluation the site’s advantages and disadvantages in order to determine overall “grade” for the site. Location Address _________________________________________________________ Structure (configuration, square footage, age, materials, condition, architecture, and heating/air): Rent/Lease (duration, cost, terms, etc.) Other Costs: Proximity to Customers: Proximity to Competition: 15 Traffic Patterns (foot and vehicular): Parking: Zoning: Permit/Licenses Required: Key Advantages: Key Disadvantages: Site Grade: (check one) (Unsuitable) A (Ideal) B (Desirable) C (Suitable) 16 D (Last Resort) E Organization and Management: What is the legal structure of your business? _____ sole proprietorship _____ partnership _____ corporation _____ S corporation _____ limited liability company In choosing a legal structure, did you consult your attorney and/or your accountant? ___ Who are your professional resources? Banker: ____________________________________________________________ Name Bus. Phone ____________________________________________________________ Address Attorney: ____________________________________________________________ Name Bus. Phone ____________________________________________________________ Address Accountant: ____________________________________________________________ Name Bus. Phone ____________________________________________________________ Address Insurance Agent: _________________________________________________________ Name Bus. Phone ____________________________________________________________ Address Consultants: ____________________________________________________________ Name Bus. Phone ____________________________________________________________ Address Other: ____________________________________________________________ Name Bus. Phone ____________________________________________________________ Address 17 Provide information about the owners and key personnel: Name ____________________________________________ Salary ________________ Position __________________________________________ Hrs/Wk _______________ Primary responsibilities: ________________________________________________________________________ Name ____________________________________________ Salary ________________ Position __________________________________________ Hrs/Wk _______________ Primary responsibilities: ________________________________________________________________________ Name ____________________________________________ Salary ________________ Position __________________________________________ Hrs/Wk _______________ Primary responsibilities: ________________________________________________________________________ Name ____________________________________________ Salary ________________ Position __________________________________________ Hrs/Wk _______________ Primary responsibilities: ________________________________________________________________________ Name ____________________________________________ Salary ________________ Position __________________________________________ Hrs/Wk _______________ Primary responsibilities: ________________________________________________________________________ 18 Personal Data Summary: Name ________________________________________________________ Age ______ Address ____________________________________________ Home Phone__________ ___________________________________________________ Bus. Phone __________ Have you ever been involved in a new business venture as an owner, key employee of financial backer? If so, describe your experience. ______________________________________________________________________________________ ______________________________________________________________________________________ Do you have previous experience in the type of business that your are proposing? Please describe. If not, why did you choose this particular type of business? ______________________________________________________________________________________ ______________________________________________________________________________________ Why are you interested in owning a business? ______________________________________________________________________________________ ______________________________________________________________________________________ Describe your personnel strengths and limitation in terms of managing business: Strengths: ______________________________________________________________________________________ ______________________________________________________________________________________ Limitations: ______________________________________________________________________________________ ______________________________________________________________________________________ Employment Experience: (beginning with your most recent position) Dates Employer Position ______________________________________________________________________________________ ______________________________________________________________________________________ ______________________________________________________________________________________ Education: Dates Institution Majors/Minors Degree ______________________________________________________________________________________ ______________________________________________________________________________________ 19 Estimated Monthly Location-Related Expenses Rent $ _____________________ Electricity $ _____________________ Garbage Collection $ _____________________ Heating/Cooling $ _____________________ Insurance $ _____________________ Property Taxes $ _____________________ Telephone $ _____________________ Water $ _____________________ Other* ___________ $ _____________________ _________________ $ _____________________ _________________ $ _____________________ _________________ $ _____________________ _________________ $ _____________________ _________________ $ _____________________ _________________ $ _____________________ _________________ $ _____________________ _________________ $ _____________________ TOTAL $ _____________________ 20 Summary of Sources and Uses of Funds Sources: Owners(s) investment (including cash, equipment, inventory, etc.,) $ ________________________ Requested bank loan ________________________ Other source: ____________________ Other source: ____________________ ________________________ ________________________ TOTAL $ _____________________ Uses: Capital equipment _______________________ Beginning inventory _______________________ Start-up costs _______________________ Working capital _______________________ Other: _______________________ TOTAL $ ______________________ Security: Collateral: _______________________________ _______________________________ _______________________________ _______________________________ ______________________ ______________________ ______________________ ______________________ Signer(s): __________________________________________________________ __________________________________________________________ Guarantor(s): __________________________________________________________ __________________________________________________________ 21 Start-Up Costs Start-up costs are one-time expenses that are incurred prior to opening your business. Some of these expense categories, such as professional services and advertising, also may be on-going expenses. Therefore, they may be part of your working capital estimate for the first six months of operations. Remodeling and decorating $ ___________________________ Interior and exterior signs ___________________________ Installation of fixtures and equipment ___________________________ Telephone installations ___________________________ Rent deposit ___________________________ Utility company deposit ___________________________ Licenses and permits ___________________________ Legal, accounting and other Professional fees (for start-up) ___________________________ Advertising and promotion (for start-up) ___________________________ Office supplies (initial inventory) ___________________________ Training ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ TOTAL $ ___________________________ 22 Beginning Inventory PRODUCTS (or RAW MATERIALS) * COST ________________________________________ $ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ TOTAL $ ________________ What information are your estimates based on? ________________________________________________________________________ 23 Capital Equipment Consider: office furniture, business machines, (computer equipment, copier, FAX machine, cash register, typewriter), store fixtures (display cases, shelves, stands, counters), delivery equipment, air conditioners, production machinery and construction equipment. List only the equipment you need to obtain to start your business, not what you already own. EQUIPMENT (including model number) * COST ________________________________________ $ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ ________________________________________ ________________ TOTAL 24 $ ________________ Executive Summary Checklist/Worksheet As a statement of your vision for your business, the Executive Summary should be well thought-out and drafted prior to developing your plan. It can be revised or corrected once your plan has been completed. It must give concise answers to the following questions: What service will be offered? Now – Future – What is the projected demand for these services? Now – Future – What constitutes the primary market? Now – Future – How large is the primary market? Now – Then - 25 When will the business begin operations? Where will the business be located? Who will make up your management team? What organization structure will your business have? What are your business’s major short-term and long-term goals? How will financing be obtained? Suppliers: Name of Supplier Address Discount Freight costs Delivery Time Item(s) ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ 26 Name of Supplier Address Discount Freight costs Delivery Time Item(s) ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ Name of Supplier Address Discount Freight costs Delivery Time Item(s) ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ Name of Supplier Address Discount Freight costs Delivery Time Item(s) ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ Name of Supplier Address Discount Freight costs Delivery Time Item(s) ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ Name of Supplier Address Discount Freight costs Delivery Time Item(s) ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ 27