Get a professional business plan template at no cost. You can subscribe to Kim's business growth tips by email, or connect on LinkedInTwitter and Facebook. It's definitely not the most exciting part of starting a business.
Location and Facilities optional 1. Company Overview There are many variations and approaches on how to lay out the various components of a business plan. The primer below is meant only to explain the broad differences between the most common company types.
So for example, if you sell someone a cupcake and they sue you because they found a hair in it, and you lose in court, the creditors can legally go after your personal possessions — such as the roof over your head.
Partnerships A partnership, according to the IRS: Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the company. Corporations A corporation is a separate legal entity owned by shareholders. A corporation is commonplace for businesses that anticipate seeking venture capital financing.
S-Corporations You can elect a special tax status with the IRS to have your corporation not be taxed at the corporate level instead, it would be taxed as a pass-through entity.
If you have not yet incorporated Describe the type of company you plan to open, along with the registered name you plan to use. Explain your rationale — for example, if you are starting a company where you plan on seeking venture capital financing, then you will want to start a C-Corporation as majority of VCs will insist on this legal structure.
Management Team For start-ups, and especially those seeking financing, the Management Team section is especially critical. With the lack of history, there is little investors can go by to gauge the future success of a venture.
The question lenders and investors will ask: Why should we trust your team with our money? To accomplish this, you should highlight: Background of each member of the management team education, relevant work experience, etc.
Roles and responsibilities within the company. For established businesses If you have an established business the information you want to present is the same. Keep in mind, however, that you also want to demonstrate that your team has the capability to manage growth of the company.
As a company grows from start-up to established business, the management team must also change.
What is a Board of Directors? In a publically trading company the Board of Directors is elected by the shareholders and is the highest authority in the management of the company.
For our purposes context of a private company that is most likely a startup or small but growing businessa Board of Directors is comprised of investor sfounder sCEO and independent board member s who have substantial business and industry experience.Global financial services firm vFinance offers a basic, page business plan template to download from its website--one the company says has been downloaded more than a quarter of a million times.
Free Sample Business PlansFind a plan from a similar industry to your business, In fact, you won’t find an exact match for your business.
That’s because every business is as unique asUse the sample plans for inspiration and ideas. Staring at a blank page can be the worst part of writing a business plan. Write a business plan that’s right for your business.
As tempting as it is, don’t just cut and paste from a sample plan. Use your plan as a management tool and build a better business. How to Write a Business Plan Outline.
Before sitting down to write a business plan for your LLC, first write a business plan outline. This outline will contain all of the pertinent information that you need to include in your business plan and will form the basis of your brainstorming.
Your outline will serve as your business plan template. Dec 13, · A limited liability company (LLC) combines attributes from both corporations and partnerships (or for one-person LLCs, sole proprietorships): the corporation’s protection from personal liability for business debts and the simpler tax structure of partnerships/5(18).
A Business Plan is not simply a description of your business. It includes market analysis, marketing strategies, financial goals, funding and liability information, and company structure details.
What this means is that you'll need to do a bit of work before writing to be able to create a comprehensive plan. Fill in the Blank Business Plan 3 of 10 Marketing Plan Marketing should address the four P’s (Product, Price, Placement and Promotion) My product or service is _____