Sole proprietor business plan sample

And you should look sharp when it comes to tending your business, because you are personally responsible for paying both income taxes and business debts.

Business plan template pdf

What we do: To help people handle their own everyday legal matters—or learn enough about them to make working with a lawyer a more satisfying experience—we publish reliable, plain-English books, software, forms and this website. Equipment Include a list of any specialized equipment needed. Was this article helpful? Do you eventually plan to sell the business for profit or to provide money for your retirement? Advertising and Promotion List the different media you will use to get your message to customers e. List ownership percentages if applicable. Section 6: Operating Plan The operating plan outlines the physical requirements of your business, such as office, warehouse, retail space, equipment, inventory and supplies, labor, etc. Sales and Distribution Describe how you will distribute your products to the customer if applicable. It will also help you to lay out a useful map to follow as your company grows.

Note also that the Balance Sheet is much simpler for unincorporated businesses without employees. Vision This section should articulate your hopes and dreams for the business.

Simple business plan template word

Write the Plan Your business plan should be shorter than 50 pages and should include the following sections: executive summary, which is written last; description of industry, including how you fit in; business model, describing your products and services; target market, describing who will buy from you and why; marketing model, describing how you will reach your target market; revenue model, estimating revenues and discussing how you will achieve those estimates; management, listing the bios and skills your managers bring to the company as well as your outside advisory board; and your financial projections, which consist of spreadsheets including a profit and loss statement, sales projections, personnel projections, cash flow and balance sheet. Briefly describe the action items needed to achieve your objectives, using milestone dates. Research Your Market Start your research by describing your target or best customers by gender, age, income level, buying habits and residential location. For a one-person, home-based consulting business the operating plan will be short and simple, but for a business such as a restaurant or a manufacturer that requires custom facilities, supply chains, specialized equipment, and multiple employees , the operating plan needs to be very detailed. Describe how you will manage inventory. Develop Your Idea Use your market research to solidify your vision for your company. For a new business, these are forecasts. If the business is a sole proprietorship this is the only section required. How will your service offerings address the needs of customers, for example, what is your unique selling proposition? And you should look sharp when it comes to tending your business, because you are personally responsible for paying both income taxes and business debts. If you will be engaged in a risky business, you may want to consider forming a corporation or an LLC. Supplies If your business is manufacturing, retail, food services, etc. Incorporate all of the capital that you envision bringing to the business through personal equity, personal loans or outside investment opportunities. Business plan software is a good source of spreadsheet programs that allow you to plug in these costs to see what kind of revenues you must generate for profitability. Share on Facebook Sole proprietorships tend to be closely held companies whose success and longevity depends on an owner-operator with sufficient skills and resources to keep the business going.

By "date" business licenses and insurance acquired. For example, if you are writing a business plan for a new restaurant and you have held chef positions at prestigious restaurants, include this information in your company description.

Most cities and many counties require businesses — even tiny home-based sole proprietorships — to register with them and pay at least a minimum tax. Income tax, pensions, medical, etc.

examples of sole proprietorship small business

After a trial, the jury returns a large verdict against Roger — and Shirley as owner of the business. If the business is a sole proprietorship this is the only section required.

Sole proprietor business plan sample

Pricing Strategy Describe how you intend to price your product or service. Product or Service Offerings Describe your product or service, how it benefits the customer, and what sets it apart from competitor offerings i. These are important considerations for the operations section of your business plan. Supplies If your business is manufacturing, retail, food services, etc. But if you are caught, you may be subject to back taxes and other penalties. If you are writing a plan to organize your existing small company, focus on how your company operates and your goals for the future. Write the Plan Your business plan should be shorter than 50 pages and should include the following sections: executive summary, which is written last; description of industry, including how you fit in; business model, describing your products and services; target market, describing who will buy from you and why; marketing model, describing how you will reach your target market; revenue model, estimating revenues and discussing how you will achieve those estimates; management, listing the bios and skills your managers bring to the company as well as your outside advisory board; and your financial projections, which consist of spreadsheets including a profit and loss statement, sales projections, personnel projections, cash flow and balance sheet. To do this, you will need to create projected income statements, cash flow statements, and balance sheets.

Sole proprietorships are so easy to set up and maintain that you may already own one without knowing it. Detail any employee training needed and how it will be provided.

These might be telephone answering services and business center offices that supply office space, office machines, administrative services and conference rooms. How will the product s be shipped?

Rated 7/10 based on 35 review
Download
Simple Business Plan Template for Entrepreneurs