Business Plan Assignment Example | Topics and Well Written Essays - 1750 words

Business Plan - Assignment Example 2. Statement of purpose. 3. Table of contents. I. The BusinessA. Description of business. B. Marketing. C. Competition in the market. D. Ways of operating procedures. E. Personnel. F. Insurance of Business. II. Financial Information A. Loan applications. B. Capital. C. Balance sheet. D. Breakeven analysisE. Pro-forma income projections (profit & loss statements)F. Pro-forma cash flowIII. Supporting Documents 1. Tax returns for last three years Personal financial statement. 2. A copy of franchise contract and all supporting documents provided by the franchiser for franchised business. Copies of the following: a. Lease or purchase agreement. b. Licenses and other legal documents. c. Resumes, that of all the principals. d. Letters of intent and other relevant material. Using The Plan A business plan is considered to be a tool comprising of three basic purposes, which are communication, management and planning. A business plans serves as a communication tool that helps in attracting investment capital, attainment of loans, hiring workers and convinces them to work for the company and importantly plays a part in attracting strategic alliances and business partners. A business plan is said to be successful if the outcome of the business is profitable, a business plan that cannot help in attain profits is said to be an incompetent business plan. A realistic approach is required at almost every stage of business and allows an entrepreneur to workout all the potential problems and all the alternatives before launching the actual business. A business plan helps as... This assignment answers on many common questions on the topic of developing a successful business plan. In any marketing sector business plan is considered to be very important and a thoughtful business plan cannot be overemphasises because much hinges on it: financial support, management of the available resources like operation and finances, credit from suppliers, promotion and marketing and last but not the least company’s goals and achievements. The researcher mostly focuses on the successful writing of the business plan. It includes many steps, most significant that were mentioned in the assignment are: Description of business, Marketing, Insurance of Business, Financial Information on loan applications and capital, Breakeven analysis, Pro-forma income projections (profit & loss statements) and Pro-forma cash flow. It is also important to prepare Supporting Documents, such as Tax returns for last three years, Personal financial statement and copy of franchise for franchis ed business. This assignment also describes ways of Using The Plan in real-life situations. Usually, a business plan is considered to be a tool comprising of three basic purposes, which are communication, management and planning. In conclusion, the researcher also states that having good financing is not enough in attaining profits and proper knowledge and planning are required to manage it well. These help in strengthening the management of financing and avoid common mistakes like miscalculating or underestimating the cost of yout future business.