How to Create a Business Plan

Business Loan Quote Request

How is your business organized? *

Limited Liability Company LLC

Sole Proprietor

Partnership

C Corp

S Corp

State * AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming

Gross Monthly Revenue * $10,000 – $25,000$25,000 – $50,000$50,000 – $75,000$75,000 – $100,000$100,000 – $150,000$150,000 – $200,000$200,000 – $250,000$250,000+

Your business must generate at least $10,000 per month before expenses and taxes.

Do you have a Business Bank Account? *

Yes

No

A business bank account that shows the monthly revenue you listed will be required.

A BUSINESS BANK ACCOUNT IS REQUIRED

How to Qualify for a Business Loan on LendersCompete.com

Years in business *

3

You must be in business more than 1 year.

Business Name *

Business Type * Select Your Business TypeAccounting and Financial ServicesAgricultural Business/FarmingAgriculture support servicesApparel or Fashion Store (Retail)Art Gallery or Craft Store (Retail)Auto parts and accessory retailAutomotive Sales or Repair ShopBeauty Salon or SpaBookstore (Retail)Brewery or WineryBusiness support servicesChemicals and textiles manufacturingChildcare or Daycare ServicesCivic, political, and professional organizationsCleaning ServicesClothing & accessories retailComputer servicesConstruction FirmConsulting ServicesDry cleaning and laundryE-commerce and mail order retailEducational Institution or Training CenterElectronics Store (Retail)Environmental ServicesEvent Planning and ManagementFarming – crops, livestock, poultry, dairyFishing and aquacultureFitness Center or GymFitness, recreational sports, and social clubsFlorist (Retail)Food and beverage retail – grocery, liquor, markets, convenience storesFood manufacturing – bakeries, candy, milk, beer, etcForestry and loggingFurniture and fixtures manufacturingFurniture Store (Retail)Gasoline stationsGeneral contractors – residential and commercial buildingGeneral merchandise storesGift Shop (Retail)Graphic Design and Creative ServicesHealth and personal product retail – drug stores, cosmeticsHealth Care Clinic or Medical PracticeHeavy construction – roads, bridges, water/sewerHobby and Craft Store (Retail)Home and garden retail – hardware, nurseries, home centersHome Improvement and RenovationHospitality and Lodging (e.g., hotels, motels)Hotels, motels, and innsHunting, trapping, game propagationImport/Export BusinessIT Services and Software DevelopmentJewelry Store (Retail)Legal PracticeMachinery manufacturing – industrial, HVAC, engines, etcManufacturing CompanyMarketing and Advertising AgencyMetal fabrication – cutlery, structural metal, screws, etcMiscellaneous niche manufacturing – toys, jewelry, musical instruments, etcMusic Store or Studio (Retail)Non-Profit OrganizationOnline E-commerce BusinessPaper and printing – books, forms, newspapersPersonal servicesPet Services and Supplies (Retail)Photography or Videography BusinessPlumbing or Electrical ServicesProfessional services – lawyers, accountants, architects, engineersPublishing or Media CompanyReal Estate AgencyReligious and social advocacy organizationsRepair and maintenanceRestaurant/CaféRestaurants, bars, caterersScientific research and development servicesSpecial trade contractors – electrical, plumbing, excavation, carpentrySpecialty Food Store or Bakery (Retail)Sporting Goods Store (Retail)Textiles and apparel manufacturingTobacconist or Vape Shop (Retail)Toy Store (Retail)Transportation and LogisticsTravel AgencyWholesale DistributorOther Business Type

How much do you want to borrow? * $10,000 – $25,000$25,000 – $35,000$35,000 – $50,000$50,000 – $75,000$75,000 – $100,000$100,000 – $150,000$150,000 – $200,000$200,000 – $250,000$250,000 – $300,000$300,000 – $500,000$500,000 – $1,000,000$1,000,000+

Minimum $10,000

Loan Purpose *

Working Capital

Equipment Purchase

Inventory Purchase

Debt Refinancing or Consolidation

Business Expansion

OtherOther

Credit Rating *

Excellent 720+

Good 680+

Fair 640+

Poor Less than 640

Your Name *

Your Name

First

First

Last

Last

Phone *

+1

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Email *

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1. Executive Summary

• Purpose: Summarize the key aspects of your business plan, including your business idea, strategy, and why it will be successful.
• Details to Include: Business name, location, products/services offered, mission statement, business owner’s details, and the plan’s objectives.

2. Company Description

• Purpose: Provide a detailed overview of your business, the problems it solves, and why it is uniquely qualified to succeed.
• Details to Include: Business history, the nature of the business, target market, and the needs your business fulfills.

3. Market Analysis

• Purpose: Show your knowledge of the industry, market trends, and target demographic.
• Details to Include: Industry description, target market characteristics, market needs, competition analysis, and potential barriers to entry.

4. Organization and Management Structure

• Purpose: Detail your business’s legal structure and describe the organizational structure.
• Details to Include: Information on the ownership structure (e.g., sole proprietorship, partnership, corporation), profiles of your management team, and the roles of your advisory board if applicable.

5. Products or Services

• Purpose: Explain what you’re selling or what services you’re offering.
• Details to Include: Detailed descriptions of your products or services, the benefits to customers, the product lifecycle, and any research and development activities.

6. Marketing and Sales Strategy

• Purpose: Outline how you plan to attract and retain customers.
• Details to Include: Your marketing strategy, sales plan, sales activities, marketing channels, pricing strategy, and how you plan to measure effectiveness.

7. Funding Request

• Purpose: If seeking funding, clearly state your funding requirements.
• Details to Include: Your current funding requirement, future funding requirements over the next five years, how you plan to use the funds, and possible financial strategies for future growth.

8. Financial Projections

• Purpose: Provide a financial forecast that shows your business’s potential to lenders and investors.
• Details to Include: Income statements, cash flow statements, balance sheets for the next three to five years, and capital expenditure budgets. Include a break-even analysis to demonstrate when your company will likely become profitable.

9. Appendix

• Purpose: Supply additional information and documents to support your plan.
• Details to Include: Resumes of key management, legal documents, product pictures, marketing materials, detailed market studies, and relevant contracts.

Step-by-Step Process:

1. Gather Information: Collect all necessary data about your market, industry, and financials. Research thoroughly to ensure accuracy.
2. Outline Your Plan: Use the sections above as a framework to organize your thoughts and data.
3. Draft Each Section: Start writing each section, focusing on clarity, precision, and persuasiveness. Tailor your language and details to your target audience, whether investors, lenders, or partners.
4. Review and Revise: After drafting, review your plan for any gaps, inaccuracies, or areas that need stronger arguments. Getting feedback from mentors or industry professionals can be invaluable.
5. Finalize the Document: Polish your business plan with professional formatting, clear graphs, and easy-to-understand charts. Ensure the document is visually appealing, as this can make a significant impact on readers.

Creating a business plan is a dynamic process that requires thought, research, and revision. A well-prepared business plan not only guides your strategic planning but also plays a crucial role in securing funding and navigating the early stages of business development.

How to Qualify for a Business Loan on LendersCompete.com
How To Create A Business Plan
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