Getting financing is often dependent on the quality of the business plan for your home based business. A business plan for your home based business is much like a map to how your business is going to run. This business plan for your home based business will allow investors or loan officers determine if your home based business is an appropriate risk for a loan. So, what goes into an effective business plan for your home based business?
The business plan for your home based business is normally divided into two main areas: a description of your business and finances. The first area covered in your business plan for your home based business involves the description of your business. After the cover sheet, you should have a statement of purpose in your business plan for your home based business. Then you should begin describing your business. In this description section of your home based business plan you should be prepared to discuss what your business will be doing, how you are planning to market the business, competition, how you are going to operate, and even business insurance.
The next section of your business plan for your home based business includes all of your financial data. The finance section of the business plan for your home based business covers any loan applications, capital equipment and supplies, a balance sheet, a breakeven analysis, and profit and loss projections. You should include a three year summary in your business plan for your home based business, plus monthly details for the first year and quarterly details for your second and third years.
An additional section to the business plan for your home based business includes all supporting documents like tax returns of principals and personal financial statements. If your are opening a franchise, you should include a copy of the franchise contract and other documents you have from the franchisor in the business plan for your home based business. Other documents like copies of licenses, legal documents, resumes, and letters of intent should also be included in the business plan for your home based business.
Read the rest of the article here: The Business Plan for your Home Based Business.
Download the Free Quick Start Workbook (Value $97!) and receive valuable tips, strategies and techniques designed to grow a very successful Home Based Business.
Copyright © Charles Fuchs is an established Six Figure Income earner and one of the top online marketer's. He specializes in helping people start their very own Work at Home and Home Based Business on the internet.
I grant permission to publish this article, electronically or in print, as long as the bylines are included, with a live link, and the article is not changed in any way.
Six Ways To Make Money Fast
There are many circumstances in life that would force a person to come up with ideas to make money fast. If that day ever comes, here are several ideas for you to make money fast.
Best Home Business
Summertime is near, and it’s once again the season for profitable ventures. Here are several best home business ideas you and your family can chew on and hopefully, earn you enough money to give yourselves a spectacular vacation.
Gene Wize Life Sciences - a Unique MLM Opportunity Or Just One of the Many?
New multi level marketing opportunities seem to sprout up like mushrooms, making it difficult for many to decide as to which could be the best business for them. GeneWize Life Sciences is one of the new kids in the block, but a quick look at what they have to offer suggests that a lot of good things can happen from this company.
