Do you need a business plan for growth? Most templates and writing services focus on helping people try to start a company, and would-be entrepreneurs are the most common clients of consulting firms and the most likely visitors to government SBA and SCORE offices. But what if you're already in business, and need capital to expand? Or need to lay down a roadmap so that you know what market opportunities to privilege and how to move forward so that your company continues on profitably? Then a business plan for growth is precisely what you need – and it can be a different animal from the customary start-up funding business plan. Particularly if you have three years of trailing revenues, such that you could create a complete past performance table showing your success to date (balance sheets and P&L statements Y1-Y3), then what you need is a step beyond the vast majority of business plan writing services out there. Your business plan for growth will need to consider key factors like these:
What are the expansion opportunities and which offer the best potential for strong returns?
If you would give up equity for growth capital, what percentage would you relinquish?
What is the IRR/ROI for your investor?
If you're simply seeking an expanded LOC from your bank, can you lay out a reasonable payback timeline?
What new marketing will you need to undertake to grow?
If you will have to bring on additional people, can you show that in an updated personnel plan, and/or identify key executive positions you will recruit?
No matter where you'll turn for funding or strategic support, you will need an integrated financial pro forma that uses drivers from market research to build out a 3-year or 5-year projection. This should include cash flow statements, balance sheet, profit and loss, break-even point, revenue forecast, staffing plan, metrics and ratios, a Year 1 assessment by month, and a sensitivity analysis. Need help putting this together, or want to ask a certified consultant some questions about your expansion needs? MasterPlans can help. We have more experience writing business plans for growth than anyone in the industry, and we're ready to help you expand. Call 877-453-2011 today!
