A business plan is a thorough and well-researched plan that will help your business get off the ground and stay on the path to success. It includes your goals, start-up and operating costs, your key personnel, details about the products or services, your competition, marketing needs, audience and roadblocks. A mini business plan is a shortened version and may be used for small businesses, sole proprietors or as a quicker way to test out possible business ideas. Each section of the mini business plan should be one to two paragraphs long.
Instructions
1. Review examples of business plans at the Small Business Administration's website (see Resources) so that you can get an idea for formulate your business plan.
2. Write a description of your business that includes the products sold or services offered.
3. Write an industry analysis. Analyze the industry trends, the future of the industry as well as where your business fits into the category. Review trade associations, industry websites, magazines and books.
4. Detail your management staff, including their background and experience. What does each member bring to the table? How are they suited for the position? Find employees that have skills that you lack. Investors pay close attention to key personnel.
5. Analyze your competition. Visit comparable restaurants or businesses. Look at what works and what doesn't. Determine what you would do differently and how you will compete.
6. Detail the start-up costs, advertising costs and operating costs in an Excel spreadsheet. Then detail these in your mini business plan.
7. Determine your exit strategy. Is this a long-term venture, or is this something that you might sell in 5 years? Can it be made into a chain?
8. Attach documentation such as business and personal references, banking information and personal net worth, your lawyer's information and business insurance information.
