List of business entities Forms of business ownership vary by jurisdictionbut several common entities exist: A sole proprietorshipalso known as a sole trader, is owned by one person and operates for their benefit.
Business Planning What are the Benefits? There are two main purposes for writing that plan. There is an additional benefit if you do business internationally. Your business plan will serve as your guide during the lifetime of your operation.
It is the blueprint of your business and will provide you with the tools to analyze your operation and implement changes that will increase your sales and, ultimately, your profitability.
A business plan is a requirement if you are planning to seek financing. It will provide potential lenders or investors with detailed information on all aspects of your company's past and current operations and provide future projections.
If you do business internationally, a business plan provides a standard means of evaluating your products' business potential in a foreign marketplace. Business Plan Outline The following pages provide a suggested outline of the material to be included in your business plan.
Your final plan may vary according to your specific needs or individual requirements of your lender or investor. Cover Sheet Serves as the title page of your business plan Name, address, and phone number of the company. Month and year your plan was prepared.
Copy number of the plan. Table of Contents Quick reference to major topics covered in your plan Executive Summary The executive summary is the abstract of your business plan. It summarizes the content and purpose of your finished plan, covering all of the key points.
This is a key section if you are seeking funding. Your Company introductory overview - who, what, where it is and why it is unique Market Opportunity opportunities your company is positioned to take advantage of Capital Requirements, Breakdown of Uses of Funds, Repayment of Loan or Benefits to Investors.
Write the executive summary after you have completed your business plan. It is a summary. The Organizational Plan What is included? This section should include a "summary description of your business" statement followed by information on the "administrative" end of your company.
Summary Description of the Business In a paragraph or two give a broad overview of the nature of your business, telling when and why the company was formed. Then complete the summary by briefly addressing: Tell briefly about your manufacturing process.
Include information on suppliers and availability of materials. Describe the products you sell. Include information about your sources and handling of inventory and fulfillment. If you provide a service: Describe your services List future products or services you plan to provide.
Location Describe your projected or current location. Project costs associated with the location. Include legal agreements, utilities forecasts, etc. Legal Structure Describe your legal structure and why it is advantageous for your company. Management List the people who are or will be running the business.
Describe their responsibilities and abilities. Include resumes in Supporting Documents Personnel How many employees will you have in what positions?
What are the necessary qualifications?
How many hours will they work and at what wage? Project future needs for adding employees.
What system will you set up for daily accounting? Who will you use for a tax accountant? Who will be responsible for periodic financial statement analysis? Who will you retain for an attorney?For example, nature study is the fastest growing outdoor recreation activity in the United States (Cordell ); this demand should be considered in the market analysis of an emerging ecotourism business.
NOTE: This business plan (the “Plan”) is to be read in conjunction with the Final Report on the Mexico Investment Catalyst Fund (the “Report”).
The Plan is a sample plan that incorporates recommendations made in the Report. A final business plan should reflect the policy decisions nature . Nature and Scope of Business:: 3 Types of Economic Activities When a person is regularly engaged in a particular economic activity, it is known as his or her occupation or vocation.
Occupations may be classified into three categories — (i) Business, (ii) Profession and (iii) Employment (Service). Photography Business Plan This is a free, printable business plan outlining the necessary services, organization and market strategies for professional photographers and those working in the entertainment or special occasion markets.
Starting a beauty supply business requires that a business plan be drawn up.
If you do know how to draw up a plan, that is great. On the other hand, if you do not have an idea of how to go about this, you may want to consider hiring an expert business consultant to help you do just that.
The following document is a sample of a finished business plan. In your final plan, you have the opportunity to elaborate on those ideas in your outline that you feel are most integral to your business.