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    6 Replies Latest reply on Jun 7, 2009 8:16 PM by RanksIntl

    Business Plan Help

    BrianJames316 Newbie
      I am in the process of building a business plan with the intent of securing a business loan for a barber shop/salon.

      I am researching the best approach in writing the business plan, but would like some advise.

      My thought, as of today, was to got to the source, speak to a loan rep at a bank and see what they will be looking for - so that I do not travel down the wrong path when putttingt he plan together.

      There are tons of sites, software and services out there. So much so that it all becomes like white noise.

      I have the unwavering vision for the business. I want to attack this step and knock it out of the park.

      Any suggestions are greatly appreciated.

      Thanks,

      LBS
        • Re: Business Plan Help
          DomainDiva Ranger
          Googfle business plans and choose a format.

          Make a 3 ring binder and use dividers for each section that the business plan model you chose calls for.

          Start writing...in longhand.

          Finish.

          Start putting into Word, corel etc and then edit as you go along. (Trust me on this one), correcting spelling, grammar etc as you progresws. Be sure to use the check spelling function and pay attention to the grammatical notices if you are using MSWord.

          When it comes to the financial projections understand that the purpose of this is to show a potential investor that you UNDESTAND your business and business model, NOT what you are going to actually generate in revenue. Be sure to be exact about expenses, so that the financial model shows you understand how to manage money and that you understand how to manage that money within your business model.

          Good luck
          • Re: Business Plan Help
            LUCKIEST Guide
            Business Plan Help, As DomainDiva knows, I am a SCORE Counselor.

            SCORE is FREE and can help you develop a Business Plan FREE

            Good luck, LUCKIEST
            • Re: Business Plan Help
              Wayfarer

              Most companies charge for advice. A few companies offer teasers, we at Initial Underwriting Group do the same. Try to google "strong business credit" and see what options pop up for advice. These terms are typically related, and lead to the same companies.

               

              Sincerely,

               

              Ilya Bodner
              Small Business Owner
              Initial Underwriting Group
              www.initialunderwriting.org
              • Re: Business Plan Help
                RanksIntl Adventurer
                Hello!

                Awesome idea! This is a business that can certainly thrive right now!

                I have a few questions for you:

                1. How far along are you with your plan?

                2. Have you made sure to include all of the key components that are necessary in your plan?

                3. Are you only looking to approach traditional lenders or are you also looking at government lending?

                I'd love to hear more about your business and read what you have of your business plan so far and possibly give you some ideas.

                Renee
                Renee.rankine@ranksintl.com
                • Re: Business Plan Help
                  RanksIntl Adventurer
                  If you email me I can also provide an outline as well as a guide of best practices!