Woodworking shop business plans can take on a couple different forms. Do you intend to rent out space in a larger location you own to allow people to work with carpentry, crafts, and other handiwork, or is yours a solo shop and you need capital to get started or grow your toolbox? No matter which model you follow, your business plan should demonstrate how you will itemize start-up funding across different costs and at what point you plan to reach break-even. If you'll be presenting for SBA-backed funding, be prepared to complete a three-year model with a monthly breakdown of key figures for the first year. Also good to include:
• What is the market opportunity locally?
• Who do you see yourself competing with?
• Are there photos of the space or sample projects you can share?
• What marketing strategies will you rely on?
• How many people will you employ, if any, and when would they start with you?
The woodworking business plan should also give a snapshot of the industry itself, a complete bio on you as the owner, and a description of the products and services you can deliver. A concise executive summary, market needs assessment, and personnel plan are all common bank requirements. If the pro forma has you stumped or you're better and building tables and chairs than a market analysis or P&L, call MasterPlans. As the leading business plan writing firm in the US, we have written for more than 8,000 clients so far including start-ups and existing businesses alike. Call us today to learn more: 877-453-2011.
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