Business Plan

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BUSINESS PLAN QUESTIONNAIRE

Please complete this business plan guide.
Name:_______________________________________________________________________
Company Name (if known)_______________________________________________________
Address: _____________________________________________________________________
Phone: ( ) ______________________________ Fax: ( ) ________________________
E-Mail Address: ________________________________________________________________
1. Describe the product/service your business is planning to offer. Specifically describe what the value
your product/service will bring to your customers.
________________________________________________________________________________
2. Where will your business be located? What geographic area will it serve?
________________________________________________________________________________
3. Is your business…?
[] new business [] expansion of a current business
[] take-over of an existing business [] not sure what the business will be
[] other (describe):_________________________________________________________
4. Is your business going to be…?
[] sole proprietorship [] C-corporation[] partnership
[] S-corporation[] limited liability partnership [] limited liability company
[] nonprofit corporation[] not sure
5. Why are you going into business? Think about financial and non-financial goals.
Financial Goals: _____________________________________________________________________
Non-financial Goals: __________________________________________________________________
PART I. MARKETING
1. Who are your potential customers (also known as your target market)? Describe your target market in
general demographic terms (such as age, income, and gender).
________________________________________________________________________________
2. Describe your target market’s buying habits. Think about how often they will purchase your
product/service. Think about prices and seasonal buying patterns.
________________________________________________________________________________
3. List the factors you have considered in choosing your location (such as cost, overhead, traffic flow,
parking, zoning laws, building codes, options for expansion, etc.).
________________________________________________________________________________
4. Describe your main competitors. Include your competitors’ business names, locations, and how well
their businesses are doing.
________________________________________________________________________________
5. Why do you think customers will buy from you? Include product/service benefits and company
strengths. What are the differences between your products/services and the competitors’
products/services.
________________________________________________________________________________
6. How is your product/service priced compared to the competition?
[] higher [] same [] lower [] don’t know
7. Who is your competition?
_________________________________________________________________________________
8. Explain how you decided to price your product/service. Include information about how much you
expect your costs to be and how much profit you expect to make.
________________________________________________________________________________
9. Is there a market (need) for your business? What percentage of the market do you think you will get?
Think about the markets past growth (last 3-5 years) and future growth (next 2-3 years).
________________________________________________________________________________
10. How do you plan to advertise your product/service?
________________________________________________________________________________
11. How will your product/service reach your target market? These are known as your sales and
distribution methods.
________________________________________________________________________________
12. Describe your future customers, locations, and new products.
________________________________________________________________________________
PART II. MANAGEMENT
1. Describe your educational background and managerial experience in this type of business.
Include all types of related experience. ATTACH A CURRENT RESUME.
________________________________________________________________________________
2. Do you belong to any trade or business organizations?
________________________________________________________________________________
3. What management and staff positions have you identified? What duties will they have? What skills do
they need? Have you completed the necessary paperwork?
________________________________________________________________________________
4. Which records have you thought about using to control your business?
[] payroll [] sales/accounts receivable [] inventor
[] purchases/accounts payable
[] computer software package (name): ___________________
[] customer relationship management: _________________________________________________
[] other (describe)___________________________________________________________________
PART III. EQUIPMENT AND INVENTORY
1. What equipment and inventory items are required to start and run your business? Attach
complete lists, including costs of what you currently own and what you need to purchase or lease.
________________________________________________________________________________
2. List the potential suppliers of the items you need for your business.
________________________________________________________________________________
PART IV. TAXES, INSURANCE AND REGULATIONS
1. What kind of taxes will your business have to pay? Who will prepare your taxes?
________________________________________________________________________________
2. Have you talked with an insurance agent? What type of insurance do you need? How much will it cost?
________________________________________________________________________________
3. Which local, state and federal regulations apply to your business? What types of licenses do you need?
________________________________________________________________________________
a. Ohio Secretary of State – business registration – $25
b. Vendors License – sales/use tax registration – $25
PART V. FINANCES (The Business Financing Opportunities attachment will help guide you through this area.
1. On a separate sheet of paper, make a list of all the costs you expect to incur.
2. What is the minimum amount you need to take home from the business in order to live?
$ ____________________ per month.
3. When your business makes a profit, how much money are you willing to keep in the business to help it
grow? $ _______________________.
4. What will you do if sales do not cover expenses?
________________________________________________________________________
5. How much, in total, will you need to start your business? $ _______________________.
6. Approximately what percent of this money will come from?
personal funds _____________% borrow from bank _____________%
borrow from family_____________% private investors’_____________%
7. On a separate sheet of paper, explain what the money will be used for.
8. What will you use as collateral against the money you will borrow?
[] nothing [] car [] house or personal real estate [] other (specify):______
9. Are you willing to give up ownership rights in the company or share ownership? ________
10. Who will be responsible for your debts (your cosigner) if your business fails? Make sure you have
consulted with this person.____________________________________________
11. Attached Cash Flow Projections
12. Attached Business Ratios

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