Business Plan

What is a Business Plan?

A well-written business plan helps you evaluate the viability of a new business in a critical, unemotional, and objective manner. Developing a business plan helps you outline your goals and define different methods you will use to reach them.

Why Write a Business Plan?

A business plan works as an effective tool to help you raise capital for your venture. Lenders want to be sure that you are confident in your business and can run it successfully. A business plan helps you convince lenders that your business is going to be a profitable one.
A business plan often works as a selling tool and serves as the basis for your financial proposal. Come across as a professional with a well-written business plan, when presenting it to a lender.

How to Use the Document

This document serves as a starting tool to define various aspects of your business.

Make sure to read through each section of the outline and fill in the blanks with appropriate answers.
This document may take you about an hour or more to complete. Please make sure you are not in a hurry when filling up this form.
If you are unsure of an answer or detail, leave it blank. Don’t fill in the answers you are not sure about.
Visit our website (link) and register for an initial appointment.

Once you have submitted this document, our certified business advisors will review your application and work with you to determine the answers for areas you have not completed so far.

Along with business plan assistance, our expert professionals also offer a vast array of services to help you secure your loan at the earliest. Get in touch today for more information.

Section One: The Business
Executive Summary
1. My company name will be:
2. My business purpose is:
3. I plan to organize my company as (Corporation, Partnership, LLC, Other)
4.I have been in business since or plan on starting on:
5.Manager(s) for the company will be
6. My experience as an owner is:
Notes
Products & Services
1. The products or services I sell are:
2. The features and benefits of what I’m selling are:
3. My products/services differ from my competition by:
4. What makes my product/services unique and desirable is:
5. Customers will buy from me because:
Notes
The Industry, Competition & Market
1. I consider my competition to be:
2. How I will measure against the competition:
3. My local competitors are:
4. My national competitors are:
5. Some of the trends I see in my industry are:
6. Some potential areas I see for growth are:
7.My typical customers have these characteristics in common:
8. These segments of customers are under-served by competition:
Notes
Marketing Plan
Marketing should address the four P’s – Product, Price, Placement, and Promotion
1.My product or service is:
2.My pricing strategy is (For example: premium, every day, low price, frequent sales):
3. The places I will sell my product or service are:
4. I will promote my product or service by:
5. My competitive advantage is:
6. I can add value or compete on the following non-price issues:
7. I will distribute my product or service by:
8. My use of advertising will consist of:
9. I will get feedback from my customers by:
Notes
Operating Plan
1. The location of my business is:
2. My hours of operation will be:
3. This is a good location for my business because:
4. I will be involved with the business by completing the following duties:
5. The equipment/furniture/fixtures I need for my business would include:
6. If I need to hire new employees, I will need to hire for these new positions:
7. I will provide the following benefits to my employees:
8. I will recruit my employees by or from:
9. My suppliers and vendors are:
10. My cybersecurity and information management plans are:
11. Changes I’m considering for the business (if purchasing an existing business):
Notes
Management & Ownership
1. The owners of my company are:
2. I have included resumes for the following key management personnel:
3. My attorney is:
4. My accountant is:
5. Other professionals that I will use are (accountant, banker, insurance agent, engineer, consultant, etc.):
SWOT Analysis
6. The strengths of my business are (internal characteristics):
7. The weaknesses of my business are (internal characteristics):
8. I see the following opportunities for my business (external characteristics):
9. I see the following threats/challenges for my business (external characteristics):
Notes
Financials
1. The total investment required is:
2. The collateral I can use for financing includes:
3. My credit history is:
4. My credit score is:
5. If I am short on money for my project, I can get more from:
6. My bank is, or the banks I would like to work with are:
Notes
Every company has different start-up costs depending on their business model. This section of the document intends to guide you through the costs associated with your start-up. Not everything will apply to your business model. Fill in what in what is relevant and all can be discussed at your appointment.
If you are building a new property, you will have:
Land:
Building:
Signage:
If you are purchasing existing property, you may have:
Building:
Renovations:
Signage:
If you are renting, you may have:
Renovations:
Signage:
In all cases, the following may be part of your start-up expenses:
Equipment (business):
Equipment (office):
Furniture:
Fixtures (storage shelves, displays, etc.):
Initial inventory:
Costs to organize:
- Registration with the ND Secretary of State
- Business formation (consultant and attorney if needed
- Marketing
- Logo Development
- Website
- Business cards and other print materials
- Initial marketing campaign
Training (do you need training for staff prior to opening? If so, lists costs associated with training:

Additional menu

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What is a Business Plan?

Why Write a Business Plan?

How to Use the Document

Section One: The Business

Marketing Plan