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Below, we’ve explained each of these areas and how to complete them. Your first stop should be the websites of the major banks, most of which offer free templates to help you craft your plan.
These can be particularly useful if you’re looking to apply for finance from a bank, as they’ll give you an idea of the sort of format lenders are looking for.
If you’re starting a photography business, your first step might be to identify your strengths and see where you can specialise.
If you've never written a business plan before or just want to save time and effort, here are 10 websites where you can download a business plan template and get started.
Editor's Note: Looking for a business plan template or service for your business?
You should include details of how your construction business would deal with an economic slowdown, or with changes to your market - for example residential or commercial construction.
What are your top tips for writing a great business plan?
You might find it useful to include a separate section in your plan outlining some sample menus, explaining what makes your offering unique or attractive.
You should also think carefully about your personnel section - for example, why should investors be excited about your head chef, and how will the front of house staff be trained?
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Writing a business plan is one of the most important steps in the life of a new business owner. Your business plan is one of your venture’s most important documents. This is the outline of your plan, and a snappy explanation of your business. Here, you explain how you’re solving the problem you outlined in the previous section. You’ll also need a profit and loss forecast, cash flow statement, and balance sheet, each of which should be presented in raw figures and as charts. Finally, many business plans include appendix sections featuring other graphs, tables, or notes that are too long or involved to include in the body of the plan itself. Remember who you’re writing for – is the business plan primarily for your own use, or are you looking for a loan, or even equity investment? This cloud-based software helps you structure your business plan properly, but its best feature is its fully-functional forecasting section.