Writing a business plan can be very simple if you have the appropriate formula in place. If you plan on applying for small business funding, your business plan should be laid out in a certain format and include the information that lenders what to know about your business the most. There are three main sections of a business plan such as the business plan section, marketing plan section, and the financial plan section. These main sections also include a number of subsections. Below I describe the information that lenders are looking for in each main section and subsection. This information can be used to write a winning business plan that will get your loan approved!
The Business Plan Section – What It Entails
Your business plan section should include important information about your company such as who you are, what you do (products/services), and how you do it. It should also include information about the current state of your industry (industry growth) and your target market. The subsections included in this section are:
Most lenders expect to see these sections in a well thought out business plan because it gives them a clear idea of how you plan on operating your business and competing in your industry. Be sure to include them in your business plan if you plan on applying for small business funding.
The Marketing Plan Section – What It Entails
You marketing plan section should outline your marketing vision and strategy. Your marketing vision and strategy should clearly outline how you plan on branding your company, and promoting/advertising your products and services. Lenders should be able to easily identify how you plan on reaching your target market after they have reviewed the marketing plan section of your business plan.
The Financial Plan Section – What It Entails
Your financial plan section should include at least 3 years of financial projections. The financial projections should include the estimated number of sales your company plans to make as well as the amount of revenue the sales will generate. It should also include information regarding your expenses and the costs associated with providing products or services to your target market. Lastly, if you plan on applying for small business funding, you should also include the amount of funding you’ll need to raise to implement everything outlined in the business plan.
If you are ready to get started with your business plan, take a look at a few sample business plans here. If you believe you need assistance with writing your business plan, visit the business plan experts at QT Business Solutions and inquire about how they may be able to assist you with writing a winning business plan that will get your loan request approved.