Business Plans

ESTABLISHING A BUSINESS PLAN THAT WORKS

Establishing a written business plan is an essential step for anyone starting a new business or making major changes within an existing business. A comprehensive business plan shows whether or not a business has the potential to make a profit. By defining your business and identifying your goals, it helps you:

  • manage your operations and finances,
  • promote and market your business,
  • monitor your progress,
  • secure loans and obtain credit from suppliers,
  • attract investment capital,
  • attract strategic business partners, and
  • convince workers to hire on.

WRITING THE PLAN

Although there is no single formula for developing a business plan, the basic components include the following:

The Business

  • description of the business
  • statement of purpose
  • reasons for choice of business structure
  • detailed description of products or services

Financial Data

  • pro forma cash flow
  • current and pro forma balance sheet
  • pro forma income projections (profit and loss statements)
  • breakeven analysis
  • capital equipment and supply list

Supporting Documents

  • licenses, partnership agreement, articles of incorporation, etc.
  • for franchised businesses, franchise contract and supporting documents
  • loan agreements
  • proposed lease or purchase agreement for building space
  • letters of intent from suppliers
  • principals’ resumes
  • principals’ personal financial statements and tax returns

Please call our firm (303-753-8905, 877-344-6079) to discuss how we can assist you in establishing a business plan tailored to your unique business.