Business Plan Business Startup
Most business plans are created as a part of a business startup. Every entrepreneur is recommended to start with a professional business plan only. Particularly when starting a business, there are countless uncertainties such as possible sales, expected costs, market developments, competitive behavior, or – these should be balanced in a business plan as realistically as possible in order to make an informed decision per or contra business start-up.
Make money with your business idea
Self-employment is a dream for many salaried employees. To be flexible, to realize one’s ideas, to earn one’s own money and to thus enjoy success oneself. These are tangible possibilities, but a lot of hard work is also associated with this.
Do not underestimate the time and financial effort for the step into self-employment. You are on your own and therefore you should plan your independence well. A lack of planning is one of the most common reasons for the failure of business founders. Read what it takes for good planning and why the professional business plan is so important.
Step by step towards professional independence – the ten most important considerations
Before the first step, carefully consider the following ten considerations to plan your successful start to independence. Preparation is everything and with these stages you get a good feeling for the homework to be done on your way to professional independence.
- Yes or no to independence – Ask yourself whether you are suitable, talk to your friends and family about your plans and get their feedback. Do you know self-employed persons in your circle of acquaintances? Then contact them in your daily life in order to get a feel for your possible future. Be realistic about yourself and your abilities.
- Put the business idea to the test – If you already have an idea for a business, consider this. How is the market situation, are there already similar products, thus competition? What you want to do better, differently? If you do not have a business idea, but have the urge to be self-employed, inquire about companies that are looking for a successor or want to be acquired. There are also franchise concepts that you can enter.
- Consult and become inform – You gain a lot when you are well informed. Inquire at the chambers about the topic of founding, your market and experiences of others. Visit a founding seminar or be supported by independent consultants.
- Create a business plan – You have to get to the starting point. Write a meaningful business plan in which you will formulate all the important points on how to implement the business concept. This is the first time you are in touch with profitability. Plan the sales to be expected in a concrete and realistic manner, clarify the capital requirements and the liquidity.
- Capital requirements – To start with you will need to make some investments. Plan exactly how much money you need for initial purchases, materials, warehousing, rental and living expenses. You will not earn a regular income in the first few months, so do not forget to take into account the running costs of the operation and the private cost of living.
- Capital procurement – There are many possibilities for financing on the market. Inquire which is the right and most cost-effective solution for your project. How much money can you and do you want to put into the project? Do you want to bring your companions on board or carry everything on your own? All the information flows in the financing plan.
- Declare independence – Find out which applications are necessary for your project: trade office, tax authority, regulatory approvals or permits.
- Tax planning – Depending on the legal structure, planning sales and profits, you will receive the first tax claims from the tax authority after the startup. The best way to report on your company is to use a “tax assessment questionnaire” directly with a tax consultant. They will tell you what is going to happen and how you need to plan for liquidity.
- Operational insurance and hedging – Every company has risks that you can cushion with a good business plan on the one hand, and, on the other hand, over-the-counter insurance. Find out which insurances are essential and compare the offers. Also think about retirement plans. As a self-employed person, you must take care of your old age, disability and illness.
- Seek advice – You will learn about a lot of new responsibilities after the startup. Unknown terrain, with which you have not yet been confronted. Be advised by experts so that your company is not affected by your lack of knowledge. Inquire about subsidies for business startup advice.
Why you should create a business plan
The business plan or operating plan answers a central question: How do you put your business idea into practice? The business plan is your central planning document for the step into self-employment. The elaborated summary of the business idea and the presentation of the company’s development by means of well-founded figures give you a good idea of the feasibility and, above all, the profitability of your project. After all, you are not out to have fun, but want to make money with the business idea.
Through the market, competition and target group analysis, you will get to know your market situation, what potential customers want and what they are willing to pay. This allows the business plan to provide you with a realistic assessment of the situation and to enable you to shape your offer accordingly. You can fine-tune your pricing strategy to the market, better identify customer benefit and added value compared to the competitive offer in communications planning.
In short, thanks to the business plan, you will be able to deal with all facets of your business model and discover open questions and also risks for which you are able to work out a solution before you start.
Financial planning gives you the necessary commercial overview. A realistic revenue planning and profitability forecast makes it possible to assess whether the undertaking is economically viable and the effort worthwhile. Liquidity planning, which you should always have in view after the start, ensures the company’s ability to pay.
A professional business plan should include the following content: Just click on the image too see the full pdf-file.
Business plan for the startup grant, a financing or the bank
The business plan is therefore the basis for every entrepreneurial project. It does not matter if you want to apply for a startup grant as an entrepreneur, capital from an investor or a loan from your bank. The first step and an imperative requirement for any capital procurement is a sound business plan, including meaningful and realistic financial planning. Depending on the project, the business plan content has to be weighted differently. In investor search, the chapter founder, market potential and financial planning play an important role. You must know what the recipient pays for or be supported by experienced business plan specialists.
Business plan structure for the startup
Now you know why and for what you should write a business plan. Before you begin creating, you will need to know what is included and how to write a business plan.
- Table of Contents
- Executive Summary
- Company Overview
- Business Model
- Market & Industry Analysis
- Competitor Analysis
- SWOT Analysis
- Marketing & Sales Strategy
- Operations Strategy
- Organizational Structure
- Management Structure
- Milestone & Timelines
- Financial Plan
The nuts and bolts of entrepreneurship – the professional business plan
Particularly important in a business plan for a business startup is the presentation of the business idea or of the planned project. This should clearly indicate the particular benefits to customers arising from the founding of the company – in relation to possibly existing competitors. This particular benefit can be quite different in nature. Examples include new product performance, special opening hours of a store, greater product selection than the competition, ideal location, marketing progression due to contacts with multipliers, special quality of the products / services, etc.
Every entrepreneur already has a kind of business plan in mind, but here the business idea is very difficult to put to the test. When a business plan is created, all ideas are put to paper, the idea grows as a tangible whole and the strengths and weaknesses of the idea are clarified. Not infrequently, a good business plan based on realistic numbers preserves a business startup before the start of a failed business startup, which can be seen as a positive result in business plan creation , as the founder can avoid an expensive apprenticeship. Often it is also evident in a business plan that a modest idea can become a promising project by changing a few small things (such as prices, suppliers, location, marketing measures, etc.). A good business plan should be suitable as part of a business startup as well as in the following years as a good guide or timetable. The entrepreneur has an instrument with the plan to carry out target / actual comparisons at regular intervals and, if necessary, to initiate appropriate corrective measures.
In addition to the advantages of its business idea, the business plan also has to demonstrate why the entrepreneur is predestined for the implementation of the planned business idea. The more specific the project is, the more important it is to demonstrate appropriate qualifications. In addition to statutory requirements (for example, appropriate certification in the case of a craft foundation), the personal entrepreneurial characteristics of the founder as well as professional experience and qualifications should be presented in the entrepreneur type chapter.
This is still to be considered when creating a business plan
In addition to the important content, the form and appearance plays a role. The visual presentation should reflect your professionalism as well as the content. Look for clear structure and classification. Write in short, simple and understandable sentences. Do not use too many technical terms and stick to the facts. Just remain objective. Integrate your business plan professionally and use the company’s corporate design for it. Before the contents and the summary, include a cover sheet with your company name, logo, title, addressee, and contact information, in case the business plan goes to third parties. In principle, place yourself in the position of an uninvolved person. What kind of information does it need for a reader to be convinced by the business idea?
Professional support in business plan writing
If you as a business founder can not fall back on relevant business training and experience in compiling business plans, you should in any case be supported professionally. Whether or not you want to request a business plan (e.g., for financing, etc.) or not, you should not skimp on the money as a business owner. On the contrary, the money is well invested in your future. After all, in the medium term, you want to support the maintenance of your business idea.
Contact us for your non-binding offer for professional business plan creation. Businessplan.org specializes in the writing of business plans. No matter what industry or project, our excellent consultants know what is important in the creation process and help you to write a meaningful and purposeful business plan. Our business plan specialists all have business training and many years of experience in various sectors. We will be pleased to assist you with the creation of your business plan – simply contact us without obligation and request your individualized offer.
Business plan business expansion
Company expansions can be implemented in a wide range of dimensions. Regional expansions (to other cities, countries), introduction of new products, setting up of a new sales rail, acquisition of (competing) companies, etc. With almost all variations of enterprise expansion capital is needed and thus a business plan is necessary. A business plan for a company expansion is therefore primarily aimed at banks, investors or venture capital companies. In addition, the business plan can be used for the company’s own planning and decision-making processes.
When creating the business plan, it is first of all necessary to differentiate between the expansion of the company’s existing business area and the development of a completely new market. If the expansion of an existing business area is planned, the business plan does not have to contain a detailed description of the business idea or services / products. The decisive factor is the sound planning of future sales and operating costs, which will arise as a result of the expansion. If the business plan is intended to open up a new market, the business idea and, above all, the company’s advantages in the new market should be presented in detail. These advantages could be, for example, supplier relationships, good purchasing conditions, synergies to current activity, cost savings, etc.
If you would like to have expert help with the creation of your business plan for a company extension, please contact us – we will be pleased to support you.
Business plan company acquisition
When creating a business plan as part of a company acquisition, you usually have the advantage of already being able to make use of in-depth past data from the existing company. On the basis of the information on sales, operating costs, profits, etc., of past years, a realistic forecast for the future can be prepared in the business plan for merger and acquisitions.
Of course, it is important to check whether the past data can easily be projected into the future. This can be called into question by special circumstances such as market developments, a strong dependence on the owner who has been acting up to date, price fluctuations, etc. In addition, it is necessary to check whether all contracts, relationships, purchasing prices, discounts, customer bases, licenses, … can be easily adopted. If you want to use the numbers and facts provided by the company vendor to create your business plan, they should also be critically challenged. Are the balance sheets realistic? Have any adjustments been made as a result of tax-based franchise rights? Did the sales actually flow? Were the balances for the imminent business sale glossed over?
All these questions should be examined with competent assistance.
If the business plan is aimed at providers (banks, investors, funding institutions, etc.) within the framework of the company acquisition / succession, the company’s past figures should always be included in the appendix of the business plan. The complete balance sheets / BWAs / … in the appendix as well as a shortened version with the decisive key figures in the business plan should be considered.
The larger the company to be acquired, the more difficult the search for suitable bank financing can be. Especially in the case of company acquisitions or company successions, one should look for suitable alternatives. In the meantime, venture capital from investment companies or funds is widespread. Venture capital companies invest their investors’ money in companies with good prospects for success.
If you need assistance with the preparation of your business plan for the acquisition of a company or the search for suitable investors, simply contact us and request a corresponding offer.
Business plan subsidiary businesses
In principle, the foundation of a subsidiary is the same as in the creation of a main business: A business plan should be an integral part of every foundation. A subsidiary founding can quickly get lost without sound planning. However, if you try to stick to a realistic business plan, the plan is also a motivational tool. The business plan is of course indispensable if you would like to apply for financing. The advantage of a business plan for a subsidiary business is that you do not have any difficulties in presenting good personal liquidity since there is already a regular income from the main acquisition (extracts from business plan examples).
The challenge in a business plan for a subsidiary foundation can, however, consist in presenting the time capacities of the founder. How does the founder of his main activity pursue and still build a company? Here one should think intensively and if necessary develop meaningful solutions with a possible employer in the main acquisition.
A business plan for the establishment of a branch should also be thought through and based on realistic figures. We are happy to assist you with its creation. Please do not hesitate to contact our business plan consultants.
We have already drawn up over 2,500 successful business plans for our customers from a wide variety of industries. As part of a free and non-binding initial discussion, we will make you a tailor-made offer according to your goals and requirements.