Professional Practice for Writing a Business Plan

In this plan the subject to describe is a business prospectus. This information provides the relevant external and internal elements required in starting a new business. The business plan is a personal expression of what he or she believes the firm is about and how they hope it will grow. Remember it is not a guarantee of success, but it forces the business owner to think the process through.

In the business plan the individual will need the following:

#1 Mission Statement: 20 word goal for the individual to follow.

#2 Business Summary: Type of business, location, and expertise in running the business. Fictitious Business Name/DBA (Doing Business As)
· Find in the local community what is required to open a Fictitious Business name.
· List requirements that the business owner must meet to obtain the fictitious business name
· List how to obtain a Domain name for the business and the website
· Include forms required

#3 Market Research: Where did you obtain your information regarding the business, knowledge about the competition, existing sales for this kind of business in the community, the industry and local trends that may affect the success of the projected business.
· Contact the banking institution of your choice and obtain the requirement needed to open a business account
· Contact your local government offices and enquire about a business license in that community.
Include forms required

#4 Marketing Plan: What portions of the market will the business plan address, a month-to-month marketing calendar, and how will services and products be priced?
Include forms required

#5 Operational Plan: Provide the organizational structure of the Business, analyze hiring of personnel and job descriptions, how will records be kept, employee benefits, project dealings with suppliers, delivery people and subcontractors, project personnel needs.
· Application for a resale license (State of California)
· What requirements will the business owner need to obtain a Resale license?
· How does it Work?
Include forms required

#6 Financial Information: Initial Capital and first year estimates for keeping the business operating, detail how monies will be spent, accounting practices used for the business, an annual income statement, explain how the projections were executed, any additional information required of a corporation.
Include forms required 

#7 Business Plan Binder: Include the six categories in your binder Design a cover letter for your Business Plan Binder. Design your business card, company name/Logo and letterhead.

Present the Business Plan on plain 8 1/2" x 11" pages. Each of the written pages should be typewritten. A cover sheet should contain your name, address, telephone number, and the date. Place this work in a binder for protection and presentation purposes.

The purpose of this Business Plan is to make any entrepreneur aware of the type of business he or she will be entering. Establish certain criteria through which to make these choices. The objectives of this business plan are to demonstrate and engage the individual in the development of the thought process by which choices made will create a successful business.

Patrick Tremblay