Basic Elements Of A Business Plan
All the basic elements you need to create a professional business plan from the cover sheet, executive summary, table of contents to the body and supporting documents. Be sure to watch our featured video.
Basic Elements
- Cover sheet-First impressions count and the first thing business associates will see when they pick up your business plan is the cover sheet which represents your plan. Attract the attention of your reader by identifying your business, yourself and a list of items in your business plan pages with the page numbers included but also try to find a way to make your cover letter stand out from hundreds of other business plans which they may have received. You can add a picture of your business or an attractive graph, or a picture of something your business does to attract their attention but make sure that you include the basic elements of the cover page keeping in mind this is your introduction for your business plan. How to Make a Business Cover Page
- Executive summary (statement of the business purpose)-An executive summary is a statement you make about your business purpose which sums up what you are trying to do. Many times executive will only ask to see your executive summary which makes this a very important part of your business plan. How to Write A Business Synopsis/Summary
- Table of contents-First decide what you are including in your business plan then create a list with the title of each page, placing them in the list in the same order that they will be placed in the business plan. Make sure to add a page number for the corresponding page. Include a title for the page naming it Table of Contents. How to Make a Table of Contents
- Body of the document-The body of the document should include:
- Your Business
- Description of your business
- Marketing-How you plan to market (advertise) your business
- Competition-What other competitiors
- Operating procedures
- Personnel
- Business insurance
- Description of your business
- Financial data
- Loan applications
- Capital equipment and supply list
- Balance sheet
- Breakeven analysis
- Profit and loss statements
- Three-year summary
- Detail by month, first year
- Detail by quarters, second and third year
- Assumptions upon which projections were based
- Pro-forma cash flow
- Loan applications
- Supporting documents-Be sure to include supporting documents that can show potential business associates, bankers, and investors you have done your homework for your business which makes you appear very professional and competent to run the business.Be sure to include:
- Tax returns of principals (partners in the business) for last three years, personal financial statements (all banks have these forms)
- Copy of franchise contract and all supporting documents provided by the franchisor (for franchise businesses)
- Copy of proposed lease or purchase agreement for building space
- Copy of licenses and other legal documents
- Copy of resumes of all principals
- Copies of letters of intent from suppliers,
- Tax returns of principals (partners in the business) for last three years, personal financial statements (all banks have these forms)
- Your Business
- Body of the document-The body of the document should include:
Featured Video: The Essential Elements of a Good Business Plan-Company Description
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References:
1. Essential Elements of A Business Plan https://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/how-write-business-plan
2. Pixabay - Business, Plan, Tree, Growth, Grow. (2018). Pixabay.com. Retrieved 18 August 2018, from https://pixabay.com/en/business-plan-tree-growth-grow-2987962/
1. Essential Elements of A Business Plan https://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/how-write-business-plan
2. Pixabay - Business, Plan, Tree, Growth, Grow. (2018). Pixabay.com. Retrieved 18 August 2018, from https://pixabay.com/en/business-plan-tree-growth-grow-2987962/