The company description is used to give your reader an understanding of what it is you do.
Location and Facilities optional 1. Company Overview There are many variations and approaches on how to lay out the various components of a business plan. The primer below is meant only to explain the broad differences between the most common company types. So for example, if you sell someone a cupcake and they sue you because they found a hair in it, and you lose in court, the creditors can legally go after your personal possessions — such as the roof over your head.
Partnerships A partnership, according to the IRS: Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the company. Corporations A corporation is a separate legal entity owned by shareholders. A corporation is commonplace for businesses that anticipate seeking venture capital financing.
S-Corporations You can elect a special tax status with the IRS to have your corporation not be taxed at the corporate level instead, it would be taxed as a pass-through entity.
If you have not yet incorporated Describe the type of company you plan to open, along with the registered name you plan to use.
Explain your rationale — for example, if you are starting a company where you plan on seeking venture capital financing, then you will want to start a C-Corporation as majority of VCs will insist on this legal structure. Management Team For start-ups, and especially those seeking financing, the Management Team section is especially critical.
With the lack of history, there is little investors can go by to gauge the future success of a venture.
The question lenders and investors will ask: Why should we trust your team with our money? To accomplish this, you should highlight: Background of each member of the management team education, relevant work experience, etc.
Roles and responsibilities within the company. For established businesses If you have an established business the information you want to present is the same. Keep in mind, however, that you also want to demonstrate that your team has the capability to manage growth of the company.
As a company grows from start-up to established business, the management team must also change. What is a Board of Directors? In a publically trading company the Board of Directors is elected by the shareholders and is the highest authority in the management of the company.
For our purposes context of a private company that is most likely a startup or small but growing businessa Board of Directors is comprised of investor sfounder sCEO and independent board member s who have substantial business and industry experience.The Company Summary of a business plan provides a high-level look at how all of the different elements of your business fit together.
A description of your business products and services, and the needs your business fulfills in the marketplace;. Here are some Sample Business Plan Templates created using MS Word to fulfill everyone’s purpose if they wanted to write a Business Plan.
A Worthy Business Plan is the one that accurately presents all the pros and cons of starting a business. Business Plan Template U.S. Small Business Administration Small Business Training Network and discipline into a business.
5. A good business plan is a living document. It should be updated regularly. 2 • Provide a description of how your company is organized . 14+ Software Engineer Job Description Templates - Free Sample 9+ Chief Executive Officer Job Description Templates – Free Sample 15+ Insertion Order Templates.
The company summary in a business plan—also known as the company description or overview—is a high-level look at who you are as a company and how all the elements of the business fit together. An effective company summary should give readers, such as potential investors, a quick and easy way to understand your business, its products .
• Unsubstantiated assumptions can hurt a business plan; the business owner Business Plan Outline Cover Sheet: Business Name, Address, Phone Number, Principals Executive Summary or Statement of Purpose Table of Contents Section One: The Business A.
Description of Business B. Products/Services C. Market Analysis D. Marketing Plan E. Location.