Purchasing a company is still a lot of work. Before you jump in, consider these points.
Business acquisitions, franchise purchases and newly developed products are just some of the events that might prompt an existing business to create a business plan.
Existing businesses use the business plan to monitor their expenses, define their strategies and benchmark their progress. Create a cover page for your existing business plan plan.
Include the name of your business, full address and all contact information, including fax number and email address. Complete a general business description for your business. Include resolutions that your business implemented to correct any problems or failures.
Explain the products in depth and highlight the competitive advantages and existing business plan of your products. Identify any strategies or steps that your business has taken to overcome disadvantages in your products. Complete a primary and secondary analysis of your industry, industry trends, target market, target market demands and competition.
Use resources, such as demographic profiles and census data, to complete your secondary analysis. Refer to your own business data and analysis to complete your primary analysis.
Provide detailed information, including statistics and sources, to support your findings and strategies. Identify and explain the demographics of your target market. Explain the features and benefits of your products, as well as why these features and benefits appeal to your target market. Identify your business competitive advantages and disadvantages and explain the strategies that your business will use to compete against the competition.
Explain the advertisement methods that your business will use to capture its target market. Define the strategies that your business will use to retain its customers, as well as generate referral business. Include price points and expenses that will generate from these strategies.
Include information on the expenses that pertain to each, such as mortgage or lease payments, utilities and equipment warranties. Provide details about your business legal requirements, such as permits, zoning compliances and environmental regulations.
Explain how your business completes its operations, maintains quality, controls inventory, develop products and services customers. List the responsibilities and functions of your executive and senior employees.
List the number of employees that your company maintains and identify each department. Create an organizational chart for an easy visual reference. Identify the pay rates for each employee, along with the training methods and requirements for each employee.
Identify any vacate positions and include information on the pay ranges for those positions. Provide information on your business finances. Complete a personal financial statement for each owner of your business.
Provide a balance sheet, income statement and cash flow statement for your business. Include a five-year projection if your company seeks to include long-term goals and projections. Complete an executive summary for your business plan. Create a table of contents and an appendix for the plan.
Generate the table of contents so that it references the exact pages to where each section begins.
Include supporting documents in the appendix, such as receipts, tax returns and accounts payable schedules. Label each supporting document accordingly and organize the documents so that they are organized in the order in which they are referenced.
References 2 MasterCard International: The Plan About the Author Writing professionally sinceCharmayne Smith focuses on corporate materials such as training manuals, business plans, grant applications and technical manuals. Photo Credits book image by jeancliclac from Fotolia.Oct 25, · How to Write a Business Plan for a Small Business.
A business plan refers to a written document that comprehensively outlines what your business is, where it is going, and how it will get there. Financial statements should include all historical (if you are an existing business) or projected financial data, including forecast statements 88%().
Business acquisitions, franchise purchases and newly developed products are just some of the events that might prompt an existing business to create a business plan. Existing businesses use the business plan to monitor their expenses, define their strategies and benchmark their progress.
A few lines on the nature of the business operations, market served, whethera start-up, expanding business, or existing of current operations. Market Analysis: One or two paragraph description of the market to include size, capacity, trends. A business plan may be an annual plan for managing your business.
Or a business plan may be primarily developed for attracting capital. There are exceptions, and often the difference between annual plans and business plans becomes muddled. Banks and other lenders or investors may require a copy of each year’s annual plan.
Management may use the start-up business plan as a basis for operating the . Sometimes buying an existing business is the best option for a new business owner, but it can be a lot of work. Learn more about our business plans for buying businesses or purchasing a company.
Consider these major points before making your decision. The checklist is not an exhaustive business plan for an existing business list, it is a simple tool that can be used to ensure that the basic annotated bibliography great gatsby BCP process has been initiated and the Division management has considered what needs to be done to keep 'business plan for an existing business' essential functions.