It is important to have a business plan because it helps you set realistic goals, secure external funding, measure your success, clarify operational requirements and establish reasonable financial forecasts. Preparing your plan will also help you focus on how to operate your new business and give it the best chance for success.
Securing financial assistance to start your new business will be directly related to the strength of your business plan. To be considered a viable candidate to receive funds from a financial institution or investors, you must demonstrate that you understand every aspect of your business and its ability to generate profit. A business plan is more than just something to show lenders and investors, it is also necessary to help you plan for the growth and progress of your business.
Although business plans can vary in length and scope, all successful business plans contain common elements. The following points should be included in any business plan:.
The executive summary is an overview of the main points in your business plan and is often considered the most important section. It is positioned at the front of the plan and is usually the first section that a potential investor or lender will read. Although the executive summary is the first section of the plan, it is a good idea to write it last — after the other parts of the plan have been finalized.
This section usually includes:. Remember that the person reading the plan may not understand your business and its products and services as well as you do, so try to avoid using complicated terms. It is also a good idea to get someone who is not involved in the business to read this section of your plan to make sure that anyone can understand it. A strong business plan will include a section that describes specific activities that you will use to promote and sell your products or services.
A strong sales and marketing section demonstrates that you have a clear idea of how you will get your product or service into market and can answer the following questions for the reader:. Don't underestimate the importance of this part of your plan. Investors need to know that you and your staff have the necessary balance of skills, motivation and experience to succeed.
This section describes the people working in your business and how you plan to manage your activities. Information in this section can include:. It is also a good idea to outline any recruitment or training plans, including the cost and the amount of time required. The operations section of your business plan will outline your daily operational requirements, facility requirements, management information systems, information technology requirements and any improvements you may have planned.
This section usually includes information like:. Your financial forecast turns your plan into numbers. As part of any good business plan, you need to include financial projections for the business that provide a forecast for the next three to five years. The first 12 months of forecasts will have the most details about costs and revenues, so investors can understand your strategy.
It is important to do your research to find out how your business compares to other small businesses in your industry. Your business plan should be prepared by you, the entrepreneur. It is your business and your plan, but do not hesitate to ask for help from your management team, consultants, accountants, bookkeepers, copy editors or other experienced people. For more information on writing your business plan and other business topics, contact Canada Business Ontario today.
Telephone services are available in English or French. Skip to main content Skip to secondary menu. Business plan guide What is a business plan and why do I need one?
Listed below are examples of questions to ask yourself when writing your business plan: How will I generate a profit? How will I run the business if sales are low or if profits are down? Who is my competition, and how will we coexist? Who is my target market? Call us for a quote! If you're committed to starting or growing your business, you need a business plan.
Even if you don't need investment. Even if your business is already up and running or if you're making a ton of cash. You need to know where you're going, how to get there, and how to know whether or not you're there! Over the past many years, we have mastered the process of writing business plans. We have learned the details that capture and hold the attention of potential lenders or investors. We would like to share that knowledge with you for FREE without signing up for any newletters. See how to write a killer business plan.
Watch our clients pitching the Dragons. A new report released by Industry Canada and compiled by Statistics Canada shows that the lion's share of small and medium sized enterprises Many clients, lenders and investors have told us over the years that our business plans are the best in the business. Getting to great and staying Did you know that most entrepreneurs take up to hours to write a business plan? Custom Created Our professional business plan writing services provide a complete print ready solution.
Fast Turnaround Writing a business plan doesn't have to take months. Flat Fee Hiring a business consultant doesn't have to be expensive.
A custom business plan can be thought of as the prmary roadmap towards success. Any business strategy needs to have a plan that includes goals, manages risks, chooses a business model and promotes further improvements.
Custom Created. Our professional business plan writing services provide a complete print ready solution. Work side-by-side with our professional business plan consultants to help you develop a clear, concise and compelling business plan and financial model.
Business Plans Canada offers business plan writing services to clients in Toronto, Durham, Halton, Peel, York, Hamilton, Oshawa, Burlington, Barrie, St. Catharines-Niagara, Kitchener-Waterloo, New Tecumseth, Geulph, Brock, Scugog. Business Plans Canada is a service offered by Alberta Ltd. Scroll to Top. Unlike other business plan writing services, we don’t just document your ideas onto paper. We form a partnership with you to ensure your ideas, thoughts, and the overall concept are properly incorporated into the plan while consulting you with our expert advice.
business plan, business plan how-to, business plan template, creating a business plan, service, starting my business plan, writing a business plan Futurpreneur Canada’s Start-Up Program takes your passion and turns it into a reality. The Canada Business Network has centres across the country that offer guidance, information and resources to help make your journey in business a success. Business development organizations and Canadian banks have free templates, writing guides, sample plans.