Frequently Asked Questions: Business Plan
Q. What is the purpose of a business plan?
A. Drawing up a business plan will help businesses to identify their strengths and weaknesses plus, key areas of financial risk involved in setting up the business. It represents the dynamic process of planning and reviewing the business marketing strategies and it should be updated at least once a year. A business plan is an essential management tool however most companies set up business plans for the purpose of receiving loans.
Q. How long of a period does the Business plan cover?
A. Our standard business plan typically covers a 3 year period. We do offer extended plans that cover 5 years total.
Q. What kind of information will i have to provide?
A. Each client will provide basic business information, including the company's structure, management, and operation. We will need information on each product or service that the business provides. In addition, we will require financial information that will include pricing, sales projections, start cost, salaries etc. For startups or business that are newly established, we can help develop estimated financial data based on your business model and goals.
Q. When do I receive my plan and what format does it come in?
A. Within 10-15 business days from the date of interview, the client will receive a draft of their business plan. The draft will be emailed as a watermarked word document file. The client will then have 1 week to review the plan and make any revisions. Revisions may be made directly in the file. After revisions are made and approval to print is given, the business plan will be printed in color and binded in a presentation folder.
Q. I paid for the regular business plan but I need these added content. Can you include them?
A. We make every effort to accommodate special client requests. If the content can be added into the plan before the plan is completed or printed, we will do so. If the addition requires more than 15 minutes of time, it will be charged at $50 per hour or fraction.
Q. Can I send pictures to be added to my plan?
A. Yes. Pictures can be added into plans as long as they are sent electronically, as in a .jpg format.
Q. Can my plan be created without financial projections?
A. Yes. The business plan program will allow us to remove the financial plan completely, producing a narrative plan.
Q. Can a business plan be prepared for a non profit?
A. Yes. In the case of non profits, financial projections are based primarily on funding sources, rather than sales.
Q. What are the sections in the business plan outline?
A. Executive Summary, Company Summary, Products & Services, Market Analysis, Strategy and Implementation Summary, Management Summary and Financial Plan.
Q. What is included in the business plan package?
A. A business plan package contains a complete business plan, as well as demographics, financials, and a market review.
Q. What sources do you use to find statistics on my market and demographics?
A. We use Wikipedia, Zipcodestats.com, and census.gov
Q. Can the colors of the graphs and charts be changed?
A. The colors of charts and graphs can be changed, but only to different color schemes. We cannot change each bar to a specific
color, there are several color schemes to choose from.
Q. Can you create a logo for my company to appear on the title page?
A. Yes. We offer logo services starting $99. This will include the creation of three distinct logos from which to choose. The chosen logo can then be placed on the cover of the plan, and anywhere else within the document that is desired. We can also add professional photos plus a powerpoint version to share with your team.