Create a Business Plan : Coursescholars

The business I chose was opening up a lounge/restaurant.

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A business plan is a carefully constructed guide for the person starting a business. The purpose of a well-prepared business plan is to show how practical and attainable the entrepreneur’s goals are. It also serves as a concise document that potential investors can examine to see if they would like to invest or assist in financing a new venture. When constructing a business plan, the business person should strive to keep it easy to read, uncluttered, and complete. A business plan should include the following 14 components:

1.  Cover Sheet

2. Table of Contents

3. Executive Summary

4. Company Plan Information

5. Environmental and Industry Analysis

6. Products or Services

7. Marketing Research and Evaluation

8. Manufacturing / Operational Plan

9. Management Team  

10. Timeline

11. Critical Risks & Assumptions

12. Benefits to the Community

13. Exit strategy

14. Financial Documents

15. Appendix (any relevant data that supports your business idea)

The business plan should answer four questions:

1.  What exactly is the nature and mission of the new venture?

2. Why is this new enterprise a good idea?

3. What are the business person’s goals?    

4. How much will the new venture cost?

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