June 2, 2020  
 
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Writing a Good Business Plan

 

Recommended Content for a Business Plan

Writing good business plans starts with an understanding of an effective business plan outline. In this article, we discuss recommended content for a business plan.

Your business plan is your roadmap for building your business and it's the admission ticket for the investment process.
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In order for you to succeed, your business plan has to be as good as it can possibly be.

What goes in a business plan? The body can be divided into four distinct sections:

1) Description of the business
2) Marketing
3) Finances
4) Management

Addenda should include an executive summary, supporting documents, and financial projections.
Although there is no single formula for developing a business plan, some elements are common to all business plans. They are summarized in the following outline:

Elements of a Business Plan 1. Cover sheet 2. Statement of purpose 
3. Table of contents
I. The Business A. Description of business B. Marketing C. Competition D. Operating procedures E. Personnel F. Business insurance
 II. Financial Data A. Loan applications B. Capital equipment and supply list C. Balance sheet D. Breakeven analysis E. Pro-forma income projections (profit & loss statements) Three-year summary Detail by month, first year Detail by quarters, second and third years Assumptions upon which projections were based F. Pro-forma cash flow 
 III. Supporting Documents  Tax returns of principals for last three years Personal financial
statement (all banks have these forms) For franchised businesses, a copy of franchise contract and all
supporting documents provided by the franchisor 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, etc.

Related Articles

Want to learn more about this topic? If so, you will enjoy these articles:

Tracking Business Plan Distribution
What to Look for in a Business Plan Writer


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