Do you need a business plan to own prison? While some detention centers are run by private agencies, federal and state prisons typically fall under the purview of the government at each level, and all staffing considerations, funding, and operations are the requirement or either state or federal government. There are however some business models attached to this industry that are run by the private sector. Rehabilitation programs, street patrols, and prison deterrence mentoring are all sometimes run by independent companies. These businesses can use either 501c3 status or look to make a profit on their models. If you need a business plan for this type of company, your document needs to answer these questions in full:
• What is the service suite you plan to deliver?
• Who do you market to for these services?
• How will you promote the business?
• What amount of capital investment or lending are you seeking?
• When can you hit the break-even point?
The business plan for a program of this nature will require a complete pro forma financial model, which means having a start-up summary (use of funds), personnel plan, revenue forecast, the break-even analysis, profit and loss tables, cash flow, and a balance sheet for at least three years into the future. Remember that any contract help you use (or other 1099 employees) don't reflect in your personnel plan, but do need to appear in your expenses on the P&L. Need assistance with the marketing plan, figuring out how to treat your employees in the model, or with performing market research for your area? MasterPlans has written more than 9,000 business plans to date and we can help you make a great plan for your company as well. Call us today at 877-453-2011.
