Lagorio Senior writer, Inc. Lagorio When Harland Sanders sold his first Kentucky Fried Chicken franchise inthe document he prepared for the first batch of franchisees was a mere two pages in length. Things have changed a lot in the intervening years. Today, the extremely rigid Franchise Disclosure Document, which is proffered by a franchiser before any agreement is pursued, must contain a preordained list of 23 items.
If you look at all of the epic battles of history you would note one repetitive fact — the winning generals or leaders had decisive battle plans, and even secondary plans, in place long before the day of battle. This sort of consideration is the reason that last-minute adjustments were possible, and why they could yield results.
For example, unless you assess the viability of the market in the area in which you intend to actually conduct business you will be unable to say with any kind of knowledge or authority whether or not there is interest in your products or services.
Even with a business with start up costs as modest as those in the courier industry, this is a vital consideration. A business plan starts with a simple expression of the goals of the business owner or partners.
If you cannot express in only a few short sentences the things that the business will do or make then you must pour a lot of effort into gaining a clearer understanding of the main focus. After that, a business plan will create a sort of road map that will allow all of the participants to know where they are going, what they are doing, and what the anticipated outcomes will be.
In the event of some sort of problem or hurtle, the business plan would be able to provide alternative answers. For example, the business plan that included a lot of market research would have identified a list of potential clients.
It would also have secondary lists too, and these can be put to use if the primary group is not responsive enough to reach pre-set goals. Posted by Sam Knowlton on Sunday, July 18, at 7:Nov 12, · How to Write a Business Plan. In this Article: Article Summary Doing Your Homework Structuring Your Business Writing the Business Plan Sample Business Plans Community Q&A Creating a business plan will help you achieve your entrepreneurial goals.
A clear and compelling business plan provides you with a guide for building a successful enterprise focused on achieving .
We would like to show you a description here but the site won’t allow us. Creating a Winning Startup Business Plan Don't fear the business plan process. With preparation, knowledge and these insider tips, you'll be able to create a business plan .
You don’t need an MBA, a business plan or even employees. All you need is a product or service that springs from what you love to do anyway, people willing to pay, and a way to get paid. The importance of writing an effective business plan cannot be overstated.
Business plans are of great importance to both existing and start up businesses. It's at the end of your business plan, but the financial plan section is the section that determines whether or not your business idea is viable, and is a key component in determining whether or not your plan is going to be able to attract any investment in your business idea..
Basically, the financial plan section consists of three financial statements, the income statement, the cash flow.