Business Plan For An Existing Business

Business Plan For An Existing Business-11
For advice and protection in buying a business we suggest that you seek the services of a solicitor, accountant or business adviser.

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Speak in terms of the size of your potential market base, the percentage of the market share you have, and how you reach these customers.

Describe how the market is growing; investors would rather work with a small company in a growing market than a large one in a stagnant market. Include an analysis of your current and upcoming competitors, how you compare to them, how you work with or around one another, and the regulations that govern your business.

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This is also the time to toot your own horn about your past successes.

Describe your target market and your marketing efforts toward them.A business plan for existing company should include a financial plan and high-level strategy with clearly assigned priorities, specific responsibilities, deadlines and milestones.Business plans are not only meant for new businesses.Existing businesses are often more credible to investors because much of the financial data in the business plan has already been proven accurate. Include sections on explaining your business, growth strategy, environment and competition, target market and marketing, operations, finances, and an executive summary. This is a one-page explanation of who you are, what your business is about, where you're located, your offices and so on.In this section, spell out the management structure and give bios of the principals and any particularly impressive members of the Board of Advisers.She holds a Master of Business Adminstration from Thunderbird School of Global Management.If you plan to buy an existing business, carefully analyse both the advantages and disadvantages, including the history, which is likely to impact the future of the business.Above all, a business plan guides you through growth and success at different stages of your business.Preparing a business plan in black and white gives you an opportunity to give a careful thought to each step required to achieve your business goals.It can also help persuade others, including banks, to invest in what you are creating. List whether you have sales reps, your availability for outreach on demand, and your source of mobility.Specify the product, source of it, and people in need of the product.

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