The Business Plan for your Home Based Business
Getting financing is often dependent on the quality of the
business plan for your home based business. A business plan for
your home based business is much like a map to how your business
is going to run. This business plan for your home based business
will allow investors or loan officers determine if your home
based business is an appropriate risk for a loan. So, what goes
into an effective business plan for your home based business?
The business plan for your home based business is normally
divided into two main areas: a description of your business and
finances. The first area covered in your business plan for your
home based business involves the description of your business.
After the cover sheet, you should have a statement of purpose in
your business plan for your home based business. Then you should
begin describing your business. In this description section of
your home based business plan you should be prepared to discuss
what your business will be doing, how you are planning to market
the business, competition, how you are going to operate, and
even business insurance.
The next section of your business plan for your home based
business includes all of your financial data. The finance
section of the business plan for your home based business covers
any loan applications, capital equipment and supplies, a balance
sheet, a breakeven analysis, and profit and loss projections.
You should include a three year summary in your business plan
for your home based business, plus monthly details for the first
year and quarterly details for your second and third years.
An additional section to the business plan for your home based
business includes all supporting documents like tax returns of
principals and personal financial statements. If your are
opening a franchise, you should include a copy of the franchise
contract and other documents you have from the franchisor in the
business plan for your home based business. Other documents like
copies of licenses, legal documents, resumes, and letters of
intent should also be included in the business plan for your
home based business.
Read the rest of the article here: The Business Plan for your Home Based
Business.
Download the Free
Quick Start Workbook (Value $97!) and receive valuable tips,
strategies and techniques designed to grow a very successful
Home Based Business.
Copyright