Are you writing a business plan for an existing business, and wondering what to include and which parts to emphasize? The most important aspect to highlight is your past performance. You should build a table showing three years (if applicable) of financial highlights you've actually achieved. This can be performed by aggregating your balance sheets and profit and loss statements for three consecutive fiscal years. This table and graph typically take the place of a start-up summary in the business plan for a seed-stage company. You should also create a use of funds table showing the categories to which you'll dedicate the funding you need if you're seeking expansion capital. Other components for an existing business to cover in the business plan:
• What is your customer profile? Do you serve private or commercial clients, and which are your biggest accounts?
• What marketing strategies have you used to date, and what new avenues can you explore?
• What personnel do you have and what new hiring do you need to do during the next 3-5 years?
• You probably know your competitors well by now; what details can you provide in the market analysis to show that you can make further inroads in your market?
Existing businesses need plans that sell their successes, reveal but justify their weaknesses, and give a clear roadmap for how the business will expand going forward. You should perform a thorough market and industry analysis and describe how your service suite can change in the future to make the best possible use of the market opportunity. MasterPlans has worked with hundreds of existing business since 2002, helping companies in industries ranging from high-tech to logistics to retail grow their core lines and develop new opportunities. If you need a funding-ready investment or bank plan for your company, call 877-453-2011 to speak with someone today.
