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The Business Plan Presented by: Women’s Center of Fayetteville Small Business Center, FTCC

The Business Plan Presented by: Women’s Center of Fayetteville Small Business Center, FTCC. Fayetteville WBC is funded in part through a collaborative agreement with the Small Business Administration. What is a Business Plan?. It is a document that: Describes your business

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The Business Plan Presented by: Women’s Center of Fayetteville Small Business Center, FTCC

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  1. The Business Plan Presented by: Women’s Center of Fayetteville Small Business Center, FTCC Fayetteville WBC is funded in part through a collaborative agreement with the Small Business Administration

  2. What is a Business Plan? It is a document that: • Describes your business • Explains how it will run • Gives financial projections • Explains how funds will be used

  3. Presentation of Business Plan • Typed! On white paper (A4 size) • 16-40 pages • Bound with title page • Professional writing • Use charts, graphs, diagrams

  4. Table of Contents • Executive Summary • The Business Description of the Business Legal structure Products/ services • Marketing Plan Target Market, Competition Promotional strategies Location, pricing, Industry trends SWOT Analysis

  5. Table of Contents…contd. • Organizational Plan Management Personnel • Financial Plan Start-up cost Cash flow statement Projected Income statement Balance sheet Breakeven point • Supporting Documents

  6. Executive Summary • Introduction • Company Overview • Mission Statement • Keys to Success • Future Plans • Financial Highlights

  7. The Business Description of Business • History, Present Status, Business Assets (Size, Value), Future Projections, Uniqueness, Customer benefits Business Ownership Structure Product/Services • Detailed description of product/service • Cost analysis, product delivery, scenario analysis, unique factors

  8. Marketing Plan Target Market: Group of customers with common characteristics • To what type of people your products are suited for? • Where do your customers live? • What income or age group they belong to? • How do you plan to reach them?

  9. Marketing Plan Competition • Compile & evaluate information on your competition, such as market share, pricing, offerings, customer services, weaknesses, etc. SWOT Analysis • Identify strengths, weaknesses, opportunities and threats for your business (and competition to the extent possible) • Strengths and weaknesses: prices, quality, customer service, performance • Opportunities & threats: market share, new competition, sales trends, untapped markets

  10. Marketing Plan Location • Attributes of ideal location • Pros & cons of the location that you got • Competition in that area • Traffic pattern • Terms of lease

  11. Marketing Plan Other important aspects to be considered: • Pricing • Web strategy • E-commerce • Industry trends • Partnerships, co-ops • Timing of Market Entry

  12. Organizational Plan • Management: People behind the business. Discuss their strengths, competencies, & work experiences • Personnel: If planning to hire people, mention about their job responsibilities & desired skills

  13. Financial Plan Start-up cost: Investment required to open the door of your business • Land, Building, Building Improvement • Equipment • Furniture • Computers • Website design • Grand Opening/ other one-time promotion • Other office items, etc.

  14. Financial Plan Operational Expenses: Your day to day expenses • Rent • Utilities • Salary/ wages • Insurance • Advertising, etc.

  15. Financial Plan 5Cs of Lending: • Character: Owner’s personal integrity • Capacity: Financial strength of the business to repay debt • Capital: How much debt Vs. equity? • Collateral: What else can you offer? • Conditions: economy or the industry you are in

  16. Sales Projections Before doing your “Sales Estimates”, you should work on the following: • Price– What price are you going to charge for your goods/services? • Cost– How much will you pay for your goods/services? • Sales Schedule– How many goods/services can you sell in the beginning, and your sales objective in long term? • Employment plan– How many employees, working hours and pay rate?

  17. Breakeven Minimum sales a business must make to cover all its business expenses No profit, No loss situation Gross profit = Expenses If sales are lower than BE point, LOSS When sales are above BE, PROFIT

  18. Repayment Examples Loan Amount: $10,000 Repayment term: 7 years (84 months) Interest rate: 12% Monthly Installment: $177 At 10%, Installment is $166 For $50,000 @12%- Installment is $883

  19. Resources www.sba.gov www.score.org www.bplans.com

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