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Do you need a business plan? No not necessarily!
Do you really need a business plan? Other than those business outline above. Of course you do! All businesses NEED a business plan, not unnecessarily for the same reasons. However you do need a business plan if your business is to prosper. The basics: When properly written, a business plan serves as your firm's resume, it clearly identifies your goals, and precisely defines your business. The importance of a comprehensive, business plan cannot be overemphasized. The future success of your business may hinge on it. If you need or require outside funding, credit from suppliers, management of your operation and finances, promotion and marketing of your business, including the achievement of your goals and objectives you need a business plan. A good business plan is a crucial part of any loan application, it will clearly define how you will repay borrowed money. Your plan must include specific information about your company in an organized manner. When written properly, it helps you allocate resources effectively, handle unforeseen complications, and above all make good business decisions. Most bankers and financiers agree on this point: A business plan is a necessity! If the you want to start a small business but can't put a business plan together, you are in trouble. Obtaining funding of any sort, (friends and family not included) will be a very tough row to hoe. You are facing an uphill battle, we cannot emphasize it strongly enough, create a business plan!  If you own a franchise you may not need one. In all probability your business will be guided by the franchisor, you as the franchisee, must follow the rules as established by the franchisor. However, you will need a truncated plan if you require additional financing for expansion etc. In these cases you are advised to carefully read and understand your franchise agreement. We also suggest you consult with your attorney. If you are in need of additional financing, speak to your banker to find out what documents you need in addition to your franchise agreement. Then come back here to download your version of the Maze Business Plan guide. Back Have your business plan proofread for grammar, readability, completeness and spelling BEFORE you present it to anybody for any reason whatsoever! Important proofreading information Go There You've probably heard the expression: What you don't know can't hurt you. Its not true concerning your business! What is true: What you don't know about your business WILL hurt your business. Know your business - Work your Plan! |
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A well written business plan IS well
received! A poorly written one is usually discarded!