Company Plan Guide
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Home Based Business Plan Guide Part Two
Company Plan Guide
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This sections needs to cover all the details of your business.
Description Stick to the facts here, listing such things as the history of your business, any previous successful projects, assets and inventory, and your goals and objectives. Include the time frame in which you intend to reach your goals, and proof that they can be achieved – break them down into short term (under one year) and long term (over one year).
Describe the legal structure you intend to use and why, and where your business will be located and the reasons for choosing that location (in terms of the benefits to your operation).
Merchandising
This effectively outlines your sales – the items and services you will sell and provide – and it’s also where you need to project your estimated sales and plan your inventory accordingly. Describe each product or service, including their strengths, weaknesses and marketability, and make a comparison with your competitors, specifically clarifying what you can offer that your competitors can’t or don’t.
Outline your pricing structure, the cost of providing your product or service, any specific technology you will use that will give you an advantage, and the skills needed to provide your product or service. Also describe future products and services you plan to provide.
Then you have to prove the feasibility of your product or service – is there a need in the market for it? Can you fulfill it? Take a look at this section to understand this a little better.
Lastly, list all your suppliers, what you purchase from them, why you chose them, their price lists, buying terms, discount policies, delivery, and so on.
Operating
This is where you describe how the business will function – how you’ll manage your accounting (what systems you use), the type of bank accounts you’ll open, how you’ll manage your inventory, and any legal considerations such as permits.
Your operations schedule outlines dates related to objectives, such as when something is expected to begin and be completed by, and the steps taken to meet those objectives.
Give an overview of your production process, how you intend to produce and deliver your product or service, your quality control procedures, and any security measures you may need to put in place.
Organization
Here, you’re going to explain who does what. It may only be a home based business with you doing everything to begin with, but bear in mind that as your business grows you will need help, so factor that in.