BANKOH business_plan - Creating a Business Plan By covering...

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Creating a Business Plan By covering the points below you are essentially writing a business plan. Let’s get started! § Executive Summary – Highlight key points of the plan. § Introduction State business goals – What are the major milestones to be reached within the next 3 –5 years? Some options may include: a. Find and secure additional funding b. Create additional product lines c. Expand geographically d. Improve delivery of products and services e. Franchise the business § Business Description – Provide a description of the business 1. What is the name of your business and where is it located? 2. What type of business is the plan for? Is it … a. A new start-up independent business. b. An existing business started _______. c. A franchise business. 3. What general industry is your business in? Some choices may include: a. Retail b. Wholesale c. Manufacturing d. Service e. Transportation f. Construction 4. Explain the form of ownership a. Sole Proprietorship – business or financial venture that is carried on by a single person and is not a Trust or Corporation. A sole proprietor has unlimited liability. b. General Partnership – organization of two or more persons who pool some or all of their money, abilities, and skill in a business and divide profit or loss in predetermined proportions. Partners are individually responsible for debts of the partnership. c. Limited Partnership – entity in which one or more persons with unlimited liability, called general partners, manage the partnership, while one or more other persons contribute only capital. This latter group called Limited Partners, have no right to participate in the management and operation of the business and assume no liability beyond capital contributed. d. Corporation – legal entity, chartered by a state or the federal government, and separate and distinct from the persons who own it. It has four (4) chief distinguishing features (1) limited liability (owners can lose only what they invest); (2) easy transfer of ownership through sale
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This note was uploaded on 04/08/2011 for the course BUS 315 taught by Professor Powell during the Spring '11 term at University of Hawaii, Manoa.

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BANKOH business_plan - Creating a Business Plan By covering...

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