In order to begin outlining my own business plan, I had to adjust a business plan according to the type of business I plan on doing, photography.
I followed the score.org business plan template and created an outline, which I plan to follow and tailor to my needs.
Photography Business Plan
1) Executive Summary
a) Do this last
b) Less than or equal to two pages
c) What you do, who your costumers will be, who are the owners, future for business
2) General Company Description
a) What type of business, what do you do?
b) Mission Statement
c) Company Goals and Objectives
d) Business Philosophy
e) Who to market products/services?
f) Describe your industry
g) Company Strengths and Core Competencies
h) What type of legal ownership
3) Products and Services
a) What are your products/services?
b) Competitive advantage/disadvantage
4) Marketing Plan
a) Market Research
i) Statistics, numbers, sources
i) Size of market
ii) Current demand
iv) Growth potential and opportunity
(1) Capital, production, marketing cost
(2) Consumer acceptance and brand recognition
(3) Training and skills
(4) Tax and quotas
vi) How to overcome the barriers
vii) How will the following affect you
(2) Government regulations
i) Describe what you do
(1) From customers point of view
ii) Features and benefits
(1) Major products
(2) Important features
(4) Benefits afterwards
i) Type of customers, characteristics, demographics
ii) Demographic profile
(4) Income Level
(5) Social Class and Occupation
i) Other competitors?
ii) Major competitors?
iii) How will your products/services compare?
i) Outline strategy that is consistent with your niche
ii) Business image
(1) How you want customers to see you
iii) Graphic Image support
(1) Logo designs, cards, brochures, letterhead, signage, interior design
i) Promotional budget
i) How much will you spend to promote business?
ii) Before startup
i) Explain your methods of pricing
ii) Compare your prices with others business’
iii) Importance of pricing
iv) Customer service and credit policies
i) Where will you provide your services?
ii) Location important?
iii) Location convenient for customers?
iv) Consistent with image?
l) Distribution Channels
i) How do you sell product/services?
m) Sales Forecast
i) Month-by-month projection
ii) Make 2 kinds
(1) An estimated guest
(2) A worst case scenario
5) Operational Plan
i) How and where are your products/services?
i) Type of location?
c) Legal Environment
i) Licensing/bonding requirements
iii) Insurance Coverage
iv) Trademarks, copyrights, patents
ii) Type of labor
iii) Where and how will you find employees?
iv) Quality of staff
v) Training methods/requirements
vii) Schedules and written procedures
viii) Job descriptions for employees
ix) Will you have contract workers?
i) Type of inventory
iv) Seasonal Buildups
v) Lead time for ordering
i) Main suppliers
ii) Other suppliers?
iii) Shortage/short-term delivery problems?
6) Management and Organization
7) Personal Financial Statement
a) Each owner should have individual personal financial statement
8) Startup Expenses and Capitalization
a) Estimate expenses
b) Plan where to get capital
c) Contingencies – account for the unforeseeable
9) Financial Plan
a) 12 month Profit and Loss Projection
i) Idea of what it will take to make a profit and be successful
b) 3 year profit projection (optional)
i) For those who want to carry their forecasts beyond their years
c) Projected Cash Flow
i) Plan how much you need, preliminary expenses, operating expenses, and reserves
d) Opening Day Balance Sheet
i) Assets & Liabilities
e) Breakeven Analysis
i) Operating at a loss VS Operating at a profit
a) Details studies used for business plan
11) Refining the plan towards type of business
a) Service Business
i) Sell intangible products
iii) High labor costs
iv) Key competitive factors?
v) Your prices
vi) Methods used to set prices
vii) System of production management
viii) Quality control procedures
ix) Measure labor productivity
x) Percent of work subcontracted to other firms? Will you profit?
xi) Credit, payment, collection policies and procedures
xii) Strategy for keeping client base