OK, so you know you need a business plan, but you have no idea where to start. This page will help you understand all the elements that banks and the Small Business Administration (SBA) generally take into consideration when reading through a business plan. At MasterPlans, we typically utilize a seven-section format with respective subsections:
Although there is no common format for developing a business plan, your business plan should contain a cover sheet (with contact information), a statement of purpose, and a table of contents. Every business plan should analyze and discuss the following throughout:
When approaching a lender, you generally need to have proof of business insurance, capital equipment and supply list, loan application and a personal income statement as well. One of the best methods for learning how to write a business plan is to study business plans of other businesses. You can review many sample business plans via the SBA's website.