BUSINESS PLAN

FIND A FINANCIAL EXPERTVisit wscu.com/localadvice

S C A N M E

06.20

CRA Business Number:

Business Industry:

Company Website:

Business Model:

North American Industry Classification System (NAICS) Code:

Address:

Phone Number:

Email:

Mobile Number:

BUSINESS PLANNER

Legal Business Name (or DBA):

Name:

COMPANY INFORMATION

Sole Proprietorship Partnership Corporation Non-Profit/ Society

Business-to-Business Business-to-Consumer

PRIMARY CONTACT INFORMATION

City: Province: Postal Code:

Optimize your business with a Business Plan that work as hard as you do.

2

Executive Summary 4Business Overview 5-7 Ownership 5 Mission and Vision 5 Products and Services 6 Strengths and Weaknesses 6 Goals and Objectives 7Market Research 8-10 Industry Overview 8 Industry Trend Analysis 8 Market Trend Analysis 9 Target Market Segment 9 Competitor Analysis 10 Positioning Strategy 10Marketing and Sales 11-13 Product and Service Descriptions 11 Pricing 11 Distribution 12 Marketing Channels 12 Promotion 13 Sales Process 13Operations 14-17 Location 14 System/ Equipment Requirements 14 Legal Requirements 15 Suppliers 15 Product/ Service Delivery Process 16 Payments 16 Quality Standards 17 Business Resources 17Human Resources 18-19 Management and Key Employees 18 Recruiting 18 Retention 19Financial Planning 20-21 Start-up Costs 20 Personal Investment 20 Risk Assessment 21Contingency Plan 22 Supporting Documents 22 Financing Request 22

CONTENTS

3

Complete this section last. Briefly touch on the important points from the sections below. Be compelling in telling your story by showcasing what makes your business unique.

EXECUTIVE SUMMARY

4

Introduce the business owners, including percent of ownership, titles, experience, and education. You may also wish to describe how the business came to be, when it was founded, and where it is located.

These are the driving forces behind a business. The Mission statement should answer the question “What do we do?” and “What makes us different?” The Vision statement should answer “Where do we aim to be?”

OWNERSHIP

MISSION AND VISION

5

BUSINESS OVERVIEW

Briefly introduce what products or services the business is selling and how this makes the company unique. PRODUCTS AND SERVICES

STRENGTHS , WEAKNESSES AND VISIONDescribe the company’s internal strengths and weaknesses by considering what the company does well, and what the company could improve on.

6

BUSINESS OVERVIEW

GOALS AND OBJECTIVESDescribe how your company defines success by outlining the company’s goals ( try c reating goals that a re SMART - Specific, Measurable, Achievable, Relevant, and Timely). Start by outlining any achievements during the start-up and launch phase, then consider the next 12 – 24 months and describe the upcoming objectives.

BUSINESS OVERVIEW

7

Describe the market that your company conducts business in. Define its size, how fast it’s growing or changing, and what influences it. Influences could include competition, suppliers, buyers, substitutes and new entrants.

Research and analyze trends in your industry. Identify the opportunities and threats in this environment.

INDUSTRY OVERVIEW

INDUSTRY TREND ANALYSIS

MARKET RESEARCH

8

Similar to industry trends, but on a narrower scale, describe the trends you have seen or foresee in the market.

Develop customer personas by defining who are your customers. Business-to-Consumer examples could include age, gender, occupation, income, and education. Business-to-Business examples could include the number of employees and sales revenue for the types of businesses you sell to.

MARKET RESEARCHMARKET TREND ANALYSIS

TARGET MARKET SEGMENT

9

Write down who your top 3 – 5 competitors are, including direct and/ or indirect competition. Detail their strengths and weaknesses.

Based on the market research you’ve completed you should now have a strong sense as to where your company is positioned within the market. Describe how your business differentiates itself from the competition and what your unique selling proposition is. To put it simply: Why do your customers buy from you?

COMPETITOR ANALYSIS

POSITIONING STRATEGY

MARKET RESEARCH

10

Outline your pricing strategy, and how it aligns with your target market. Will discounts, or bundling tactics be used? List the prices of your products/ services and include what factors influence your pricing.

MARKETING AND SALES

PRODUCT AND SERVICE DESCRIPTIONSDescribe in detail the core products and/ or services that you sell, including the features, advantages, and benefits.

PRICING

11

How is your product or service delivered to your customer? This could include store fronts, tradeshows, online, or retailers. What channel do you anticipate being the biggest driver for sales?

What channels will be used to promote your products or services to your target market and explain why you’ve chosen those channels. Channels could include your company website, online advertising (Facebook, Google), direct mail, email marketing, classified ads, trade shows, radio, etc.

MARKETING AND SALES

DISTRIBUTION

MARKETING CHANNELS

12

Put together a marketing plan for how you will promote your business using the channels outlined above. What will you promote and what messaging will you use? Budget a cost for each activity to get an idea of your expenditure.

Describe the process to qualify a sale. What is the typical timeline for a sale to close and what is the customer experience during the process?

PROMOTION

SALES PROCESS

13

MARKETING AND SALES

Expand on the details of the business location, such as the size, accessibility, zoning restrictions, required utilities, and the cost of overhead.

Detail the types of systems and equipment that are required to conduct business. This could include point of sale (POS) systems, inventory tracking, accounting software, etc.

OPERATIONS LOCATION

SYSTEM/ EQUIPMENT REQUIREMENTS

14

List any special permits or licenses required to operate in your industry. Include the status of your application for each.

List the details of your suppliers, what they provide, what a typical order consists of (if applicable), and any credit terms extended to you.

LEGAL REQUIREMENTS

SUPPLIERS

15

OPERATIONS

Outline the delivery process of your product or service to your customer. If your company provides a service, outline the process starting from when a conversation is first initiated.

Define all methods of acceptable payment. If your business is a B2B provider, define the credit terms, how payments are made and received, and the process to collect on accounts receivable.

PRODUCT/ SERVICE DELIVERY PROCESS

PAYMENTS

16

OPERATIONS

Outline quality control measures, and the procedures in place to maintain these. What are the terms for refunds or warranties?

List the contact information for your key business resources, such as lawyers and accountants.

QUALITY STANDARDS

BUSINESS RESOURCES

17

OPERATIONS

Consider how you may recruit new employees in the future. Will you hire an agency, post online or seek referrals from your own network?

HUMAN RESOURCES

MANAGEMENT AND KEY EMPLOYEESOutline who the management team is behind your business and describe their qualifications and experience. Feel free to include resumes.Describe what other key employees/ personnel are required to run your business and the role that they will play. What level of qualifications are required to fill these roles?

RECRUITING

18

Outline how you plan to retain employees. This could be outlined through a compensation strategy that includes benefits, pension, bonuses, etc.

RETENTION

19

HUMAN RESOURCES

Describe in detail the costs associated with starting your business. This will help you determine how you might need to finance your company later.

Fill out the details in this section and complete the supporting documents for the personal net worth statement, personal cashflow statement (sole proprietor only), and the business cashflow statement.

Lenders want to know that business owners are committed to their business. Indicate how much of your own investment has been contributed so far and what it has been used for.

FINANCIAL PLANNING

START-UP COSTS

PERSONAL INVESTMENT

20

Think of a few potential risks your company may face, such as financial or industry risks, and consider ways to mitigate these risks.

RISK ASSESSMENT

21

Fill out the details in this section and complete the supporting documents for the personal net worth statement, personal cashflow statement (sole proprietor only), and the business cashflow statement.

FINANCIAL PLANNING

Personal Cash Flow (sole proprietor only)

CONTINGENCY PLANFill out the details in this section and complete the supporting documents for the personal net worth statement, personal cashflow statement (sole proprietor only), and the business cashflow statement.

SUPPORTING DOCUMENTS

Personal Net Worth Statement

Business Cashflow Statement

Now that you’ve completed the financial planning section, you should have a strong understanding of how much your business will need to get up and running. Outline your request by including the type of financing (revolving vs. demand loan), explaining what the money will be used for, and how it will help your business achieve its goals.

FINANCING REQUEST

22