A funeral home business plan shows that the region you operate in has sufficient need for funeral services relative to the number of existing funeral homes already servicing the market. If your funeral home is already in business, highlights its record to date by writing a brief synopsis of its history. And unless there are significant and/or unexplained aberrations in your recent past performance as a business, consider showing lenders/investors your financial statements from the past few years. This is accomplished by compiling 3 years of balance sheets and profit and loss statements into a table and graph at the end of the executive summary.
Also include these in your business plan:
• Who are your direct competitors?
• What amount of money are you seeking to start or expand?
• Who is on your management team and what hiring needs will the company have in the short-term?
• Can you show how your funding will be divided by category?
The business plan needs a financial pro forma that shows your projected revenues and expenses over a 3-year period (for bank lending or a LOC) or 5 years (for private investment). It is also important that you have a clear marketing and implementation strategy for the funeral home going forward. How will you make your name publicly known? What strengths can you build on to ensure steady work throughout the coming few years? Make sure a reader knows precisely how you plan to grow the home's revenues. MasterPlans has written business plans for a wide variety of funeral industry businesses including existing and start-up funeral homes. Call today 877-453-2011 to learn more.
