How to Write a Business Start-Up Plan

Almost all new businesses start with the question how do you start a business? Opening a new business can be a scary but exciting time for any business owner. Knowing that there is a market for a product or service is the first sign that you have a great business idea. However, every new business starts out the same way: with a business plan. Writing a business start-up plan might seem like a hard endeavor, but with the right amount of knowhow and the right plan you will be able to get the funding needed to turn your idea into a reality. Here are a few steps to follow when you are writing a business start-up plan.

The market is going to be the most important part of your business start-up plan. By conducting market analysis you will be able to give proof that somebody out there will indeed buy your products or services. Market analysis should not only include the consumer. One of the biggest markets out there is business-to-business sales. How can a business benefit from your product or services? How can a consumer benefit? These two markets are the starting point for your new start-up plan. Once you have this market you can start with demographics. Is the product geared toward males? What ages? Write one or two paragraphs on the market and demographics for your product or service.

The competition is going to be another important aspect for your new start-up business. Would Coke have been so successful without Pepsi? Probably, but competition can be a great blessing. Competition gives the consumer choice, something that you can take advantage of when marketing your products or services. Be honest with what kind of competition is out there and what you will need to overcome during the early stages of the business.

What are the operating procedures going to be? This is how the business is run. Explain to your investors how you will deal with expenses through thorough operating procedures. List the key personnel to the business and how much their salary will be. How many hours will need to be worked each week for good business and great profits? List all of these and you will have a keen sense of the money needed for operating the business.

What the start-up costs going to be? What kind of equipment do you need to get the business up and running as soon as possible? What are the first year profits going to be if you get so many clients? These are kind of questions that you need to answer in the your business write up. Include facts, figures, graphs and tables for visual appeal to your investors.

Even through the executive summary will be the last thing you write, it will be the first thing on your business start-up plan. The executive summary is harder to write without all of the numbers and figures from the other parts of the plan. Once you have all of these key elements together, write an executive summary outlining your business. This should be about 10% of your total business plan.