Regional Pilot Business Plan

Top Tips for a Successful BC Regional Pilot Business Plan

Top Tips for a Successful BC Regional Pilot Business Plan

The BC regional pilot program is designed for international entrepreneurs who wish to immigrate to communities outside of the larger BC cities. The program gives entrepreneurs the opportunity to immigrate, become part of a local community, start a business, and contribute to the local economy. As a part of the Regional Pilot Program application, entrepreneurs must submit a detailed business plan that meets the necessary requirements. Let’s look at some tips for writing a successful BC Regional Pilot business plan.

“All humans are entrepreneurs not because they should start companies but because the will to create is encoded in human DNA.” —Reid Hoffman, LinkedIn co-founder

#1 Understand Program Requirements

The BC PNP Regional Pilot Program has specific requirements that need to be met to ensure that business concept and business plan are successful. The first step is to fully understand these requirements so that the business plan can be documented keeping those requirements in mind. If writing a business plan seems overwhelming, you can hire a business plan writer to help you navigate the nuances of business plan documentation. A professional business plan writer can provide the expertise to make your application stand out and convince community representatives that your business idea is viable. A professional business plan writer can also make sure that your business plan is detailed yet concise.

#2 Create an Appealing Business Plan

The BC PNP Regional Pilot Business Plan must adhere to the guidelines, and address key factors such as commercial viability, local market research, competitor analysis, staffing needs, local economic advantages, financial projections, etc. Numerous applicants apply for this program every year, and a well-written business plan can certainly help your application stand out. The business plan should clearly demonstrate the job creation plan, investment, and benefits to the community.

#3 Understand the Local Community

In your business plan preparation, make sure you do your research and find out about the community you are planning to immigrate to. If you are invited to apply, you must submit a comprehensive business plan that provides detailed information about your proposed business in B.C. Consider visiting the community where you wish to open the business to obtain vital information about the area, business needs, and competition. This way, you can understand the local market, what’s important to the community, and how your business could add value. This will assist with business planning to ensure all bases are covered with a full understanding of the community you wish to start your business in.

A well-written business plan that is according to the program guidelines can improve the chances of success of your immigration application. These tips are a great starter guide to help you with your business plan. For more information about my immigration business plan writing service, contact me here, and I’ll be happy to answer any questions you may have about your BC PNP Regional Pilot Business Plan. Please note that the above information is based on my experience as a business plan writer for Regional Pilot business plans. I am NOT an immigration consultant. Any questions regarding your eligibility or Regional Pilot immigration requirements must be directed to a licensed Canadian immigration consultant.

Further helpful reading:

Tips for a Successful Intra Company Transfer Business Plan 

What is a Provincial Nominee Program (PNP) Business Plan? 

 

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Cannabis business plan

Tips for Writing a Great Cannabis Business Plan

Tips for Writing a Great Cannabis Business Plan

Are you a cannabis entrepreneur looking to make a mark in the rapidly expanding legal cannabis industry? Writing a comprehensive cannabis business plan could be a great starting point. A cannabis business plan requires the same components as any other business plan. However, due to the nature of the business, intricacies, and regulations, you will need to dive deeper into researching the industry. Furthermore, you will want to make sure your business has a firm handle on the principles behind its operational standards and use your business plan to clearly outline what unique factors set your business apart. Here are a few tips for crafting a Great Cannabis Business Plan.

Identify the Business Model     

Identify your cannabis business model. Are you looking to produce, sell, process, market, etc.? Depending on what you’re aiming to do in the industry, each business model has its requirements, regulations, and guidelines. A transparent business model allows you to highlight what you’ll need to create your product or service, how you’ll get your business out there, and of course, what, and how you’ll get paid for your product or service. Keep in mind the cannabis industry has strict regulations, rules, and requirements, such as acceptable transaction processes, and you’ll want to include these details in your business plan.

Be Unique

There are so many ways to cash in on the booming cannabis industry. Whichever path you decide to take on, do so with a unique flair! Set yourself apart from the competition, bring something different and new that gets investors excited. The needs of your consumers and the ever-changing nature of the industry should be your primary focus. Keep it simple -what need, or problem are you going to fulfill? How do you plan to do it uniquely? Being unique and innovative is important because the same old has been done, established, and flourishing. You need to identify a new, better, more resourceful, or efficient way your company can offer consumers a successful solution in such a highly competitive industry!

Utilize Industry Startup Knowledge  

The cannabis industry comes with its fair share of legalities. What do you need to run a fully licensed, viable business? How long will the necessary permits and licenses take to acquire? How much will it cost? How long will it take to assemble a team? Does the cannabis industry have special rules around marketing? You will want to research and know how long it will take to truly open your doors. The knowledge behind a realistic opening time positions you as a well-informed operator that has done their research. Thus, creating credibility with those assessing your business plan. Highlight your knowledge of the industry and the operational requirements in the relevant sections of your business plan. Reflect on the process when building your timeline estimates. Remember to add the costs of permits and licenses in your financials. For example, the cost of special required licenses should be accounted for in your startup costs, whereas ongoing licensing costs should be accounted for in your future financial forecasts.

Use these tips to craft a Great Cannabis Business Plan that sets you apart from your competition and positions you as an upcoming cannabis start-up! Furthermore, if you’re overwhelmed, hiring a professional business plan writer is always an option. Are you looking for a cannabis business plan writer? Contact me here, and I’ll be happy to answer any questions you may have about your Cannabis Business Plan requirements.

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Don’t Let COVID-19 Destroy Your Entrepreneurial Dreams

Don’t Let COVID-19 Destroy Your Entrepreneurial Dreams

“Only the bold reinvent a business when the traditional environment that made them successful has been completely altered.” – Dr. Anthony M. Criniti

Risk assessment is an essential piece of planning for any business. That said, I would bet very few people approach a social or business enterprise with a pandemic on their risk assessment chart. A global pandemic is as unpredictable and potentially detrimental as it gets. It was March 15, 2020, Dow Jones fell 3000 points, and all of my investments were bleeding. My hands were shivering and there were tears in my eyes looking at the Questrade app on my phone. After a stellar six-figure freelancing revenue in 2019 and spending one week in Cozumel, Mexico in February 2020, I was hoping for a better 2020! I had moved my condo mortgage from a variable interest rate to a fixed interest rate in early 2019 (as a “risk management” against rising interest rates) – so the three prime rate cuts in March 2020 did not ease my pandemic pain.

How has the pandemic affected entrepreneurs?

COVID-19 has had a definite but still unmeasurable impact on the global economy. Those who are feeling the effects the most are small and medium-sized companies without endless financial safeguards and investors to keep them afloat. But as grim as endless lockdowns and capacity restrictions may have felt for those in affected areas, there may be some positive takeaways from this worldwide learning curve, especially in the sphere of entrepreneurship. As it has never been required before, resilience has become a necessity, alongside a capacity for adaptation and persistent ingenuity. 

Fear zone, learning zone, growth zone.

Businesses are crucial for helping society survive an economic crisis and driving the innovation that shapes society post-crisis. A successful entrepreneur operating in the pandemic needs to think outside the box. An open mind and an opportunistic mindset can be a gamechanger. To take advantage of widespread uncertainty, an entrepreneur needs to compartmentalize the surrounding chaos and identify their role within the unpredictability. 

An entrepreneur’s outlook is often quite different than others. The average entrepreneur will see a chaotic time (like a pandemic, for example) as a perfect chance to make a move, turning ideas into financial rewards. This can be true in any industry. Of course, specific sectors are doing better now than before the pandemic. Cleaning services, delivery services, liquor stores, online gaming companies, video communications, telehealth, and tutoring services – most business models prioritizing convenience and at-home enjoyment, alongside sanitization and health spheres, are faring well within the global crisis, at least in terms of profit.

There are also new companies being invented or reinvented almost daily. Unprecedented times call for unprecedented ways of thinking, which leads to changes in consumer behavior. Everyone – consumers, business owners, market analysts – is adjusting to a new business model. The move online has uprooted established habits and expectations, replacing them with entirely different methods of communication, advertising, and functioning.  

How can you maintain (or build up) your business within pandemic uncertainty?

Consider how your product or service fits into the pandemic lifestyle. The world has changed, and so have the values and priorities of different market segments. Be very conscious of your ethos and the way you’re conducting business. Reputations are strengthened and destroyed during times of crisis. Businesses that can support their customers by helping with shortages or making donations are quite often remembered for their goodwill when the economy bounces out. The same is true for the treatment of employees. A respected and supported team during hard times (and anytime, really) enhances a company’s credibility as an employer.

Are you looking for a Vancouver business plan writer to help you with your post-pandemic entrepreneurial dreams? Contact me here, and I’ll be happy to bounce ideas!

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Why Some Business Plans Don’t Receive Funding

Why Some Business Plans Don’t Receive Funding

Have you ever written a business plan before? Your business plan is the first impression any potential investor will get about your venture. Investors go through numerous business plans each year, so you need to ensure that your business plan stands out and has the wow factor. Your business venture could have an excellent product, team, and customer base, but if your business plan doesn’t highlight these correctly, you will face rejection. Investors look for many reasons to say no when they look at business plans, so you need to make sure you give them every reason to say yes. So, let’s look at some of the reasons why business plans don’t receive funding. These will help you ensure that you leave a positive first impression on investors by avoiding these common mistakes.

Not Identifying Competition

One of the common mistakes entrepreneurs make is not identifying competitors or mentioning that they don’t have any competitors. While they think this will fascinate investors, in reality, it sends wrong signals. Be careful when you say there are no competitors for your business. Competitors can be direct or indirect. In your business plan, you should address both types of competitors. Furthermore, once you have identified competitors, lay out the USP and how your product or service is different or unique. This will help investors understand how to plan to overcome competition in the market.  

No Marketing Strategy

Business plans that cannot explain how a business will market, sell, and distribute products or services will fail to convince the investors that they will sustain in the market. Business plans need to provide answers to pressing questions investors could ask. Some critical questions to answer in your business plan include:

  • Who will buy the product or service?
  • Why will they buy it?
  • How will you get the product or service to the target customer?

When detailing the marketing strategy for the business, you will need to explain how you will generate customer interest and make actual sales.

Not Filling a Need

The key to any business’s success is its ability to fill a need or solve a problem in the market. If the business plan doesn’t demonstrate how the company will fill a need, the plan will likely face rejection.

People are ready to pay good money to have their needs filled and pay for a solution to the existing market gap. The greater the pain and the better your product is at alleviating it, the greater your market potential. If your business plan doesn’t explain what needs your business will fill and how you will fill that need, it will be tough to convince investors. 

Too Technical

If your business plan is too technical with a lot of jargon, there is a high chance that the readers will not understand it. Business owners often write their business plans with industry-specific terms that are often confusing to potential readers. The key here is to keep the business plan simple and easy to understand for potential investors. Try to avoid highly technical discussions of the product or market that potential investors may find confusing. 

If you are overwhelmed and need a business plan writer, contact me here. I’ll be happy to answer any questions you may have about your business plan requirements. Here are the top five reasons to hire a business plan writer.

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Hire a business plan writer

Business Plan Software vs. Business Plan Writer

Business Plan Software vs. Business Plan Writer

Are you an entrepreneur looking for business plan writing resources? For any business to succeed, a well-written business plan representing the business and its operations can be crucial. The options available for writing a business plan are either hiring a professional business plan writer or using a business plan software application. Depending on your business and future goals, either can help you put together the business plan you need. Many business owners have difficulty in deciding what will be the best option for writing their business plan. So, let’s look at both options and identify which might be a better fit for your business planning needs. 

Business Plan Software

Business plan software applications are a cost-effective option as compared to hiring a professional business plan writer. Business plan software applications have features that will help you write your business plan, but they have certain limitations. 

A few suitable software applications available on the market allow business owners to have more confidence in their plan before sharing it with potential investors. But there are many reasons you might not want to use business plan software applications given the purpose of your business plan. 

Many of these software applications miss industry insights or even the importance of business experience in the business plan. It’s worth noting that business plan software applications come at a cost, and many business owners can write the same quality business plan for free. The big downfall in many of these applications is that they are standardized and don’t offer flexibility and customization for developing a business plan. 

Business plan software applications serve a purpose, but when seeking investment or potential partners to your business, they fall short in quality, in-depth industry research, local market analysis, competitor analysis, etc. For this reason, many business owners choose to hire a professional business plan writer to create an accurate picture of their business that captures the eye of the potential readers.

Business Plan Writer

A professional business plan writer can take on a more customized approach when writing a business plan. They will conduct relevant market research to gather valuable information, ultimately saving you both time and money. This time saved can then be used to focus on other areas of your business. 

A professional business plan writer knows what to add to a business plan to appeal to investors. They also know the terminology to use while ensuring relevant information is included in the plan to achieve its purpose. 

A professional business plan writer can also be flexible and provide a business plan at any stage of your business process, whether for a new business venture or an already established business. They can revamp and update existing business plans where required. The significant part about hiring a business plan writer is that you will have someone who can continually update and revise your existing plan as your company grows. 

Often, business owners refine their business concept and need to revise the first draft of the business plan. This is where a human connection can make a big difference. By hiring a business plan writer, you are engaging a professional who will write the business plan and also help with brainstorming ideas and strategies along the way. 

Business Plan Software vs. Business Plan Writer

As you can see, there are differences between using business plan software and hiring a business plan writer. Many business owners choose to use business plan software applications to save on the initial costs and write the business plan themselves. However, many end up spending more money further down the line by hiring an editor to review the final document.

Considering the two options, you will first need to decide the purpose of your business plan. If the goal is for your eyes only, then business plan software might be the best option. But, when presenting your business plan to investors for raising capital, it’s more advisable to hire an experienced business plan writer. 

Business plan software can work well in some situations. However, if you are a growth-focused entrepreneur, you will need an in-depth marketing strategy, risk analysis, industry research for securing a bank loan or investor funding. By hiring a business plan writer, you can ensure the business plan meets its purpose the first time around with accurate results. A professionally written business plan can save you time and money eventually. So, focus on your end goal, and then decide for yourself which option will work for you. If you are looking for business plan writing services in Vancouver, contact me here, and I’ll be happy to answer any questions you may have about your business plan requirements.

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Eight Things to Do Before Launching Your Business

Eight Things to Do Before Launching Your Business

Launching a small business is like training for a marathon. It’s easy enough to hang a shingle and flip the switch on the open sign, but unless you’ve laid the groundwork, you’ll be like the person who shows up on race day without a single kilometer run on their brand-new running shoes. 

Understand that running a business is work

Yes, a lot of work! It’s stressful and requires a much different level of dedication than working for someone else. There will be extended hours for little pay – on average; it takes two to three years for a business to be profitable. Expect to devote many hours to develop and then refine your small business strategy.

Write a Business Plan 

The business plan is your playbook and is a valuable tool to keep you on track. It assists in providing clarity for your goals and is an aid in tracking the progress of your venture. If you’re seeking funding, most lenders and investors will need to review your formal business plan. There are many business plans writing services and tools to be found online and in your community.

Ensure there’s a demand for your product or service

You believe that your concept is terrific, but the question that needs to be asked is whether consumers feel the same way. Bottled water for dogs may be a hot seller in upscale neighborhoods where tiny, fluffy canines are carried around in designer bags. Still, it will likely be a flop in an area with average owners whose pets drink out tap water and puddles.

Understand your demographic and what makes them tick

What are their buying habits? Study your competitor’s online presence and how they are delivering what people are looking for. What are their customers saying about them? Hiring a business plan consultant at this stage can prove to be a wise business expense. Good consultants are experts on the subject of demographics and the fluid nature of consumer demands.  

“So often people are working hard at the wrong thing. Working on the right thing is probably more important than working hard.” – Caterina Fake, co-founder, Flickr

Have a strong mission

The purpose of your business should drive your every decision. It’s easy to be distracted and lose focus when starting up a business simply because there are many demands. The mission, a part of a solid small business strategy, will keep you focused and prevent you from being pulled in many directions, 

Network, network, network

Joining community groups like the Rotary Club, the Chamber of Commerce or other local service organizations are excellent ways to get to know other businessmen and businesswomen. In these groups, you’ll also be able to meet people who offer valuable services like small business consulting, marketing, and business plan writing. You may also find the potential customers of your products and services in that community.

Assess your finances 

Unless you have a bag of money buried in the backyard, you’ll not only need money for start-up costs, but you’ll have to have the resources to pay the bills until your business begins to turn a profit. Starting small and growing your business slowly will enable you to control your personal and professional finances. If you already have a day job, and this is your side hustle or passion project, you may need to weigh the value of keeping your current job until your business is firmly on its feet.

Find a mentor

Surround yourself with experienced and successful business people. They have been where you are right now, and you’ll find that most are delighted to share what they’ve learned from their experiences. Don’t be afraid to ask questions and seek out other people’s opinions about your business idea. 

If this seems too much, hire a business plan writer. Need help writing a business plan? Check out more details here Adept Business Plans Inc. I am an independent business plan writer. I can help you write a professional business plan for your startup. If you’re interested in working with me, bouncing ideas, or just want to say hello, I would love to hear from you.

 

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franchise business plan

Tips for writing a franchise business plan

Tips for writing a franchise business plan 

Writing a business plan is a critical step for any business, including planning to own a franchise. Think of the business plan as a detailed map that outlines your journey, helps you identify any potential roadblocks, and paves the way to successfully arriving at your destination. Creating a business plan can help you in anticipating potential challenges and assist you in tempering any unrealistic expectations you may have. It is difficult to bridle enthusiasm when working out a business strategy, and the business plan is an excellent tool to channel that drive. If you are going to be seeking financing, banks and other lending institutions will certainly ask for a detailed business plan. 

Many franchises offer their business plan templates that you can use and adapt. Another perk of a franchise startup is that most of the financial information you will require can be found in their Franchise Disclosure Document (FDD). Hiring a business plan writer to develop your business plan, reviewing it, and providing feedback, is a wise decision. The money you spend at this step is considered a business expense.

Lenders are busy people and don’t want to read novel-length business plans, so use restraint while being clear and concise. Your work should make the lenders confident that you’re able and ready to take on the franchise and that it will turn a profit in a reasonable amount of time. One of the advantages of franchise ownership is that franchisors have already done the legwork to address lenders’ concerns. While business plans aren’t standardized, there are must-have sections found in every well-written business plan. 

Executive Summary

The executive summary provides a brief overview of the company and the history of the franchise. It also outlines the market size and its characteristics, the competition in that market, and how strong it is. Other points included here are your operational approach and the summary of your financial projections. Some of the information you’ll need can be found in the Financial Disclosure Document.

Management

The key management positions and who will fill these roles are what this section is all about. It’s important to highlight that your managers possess the relevant experience your managers have, driving your franchise towards success. You will also want to highlight the staff/ consultants that the franchisor provides to assist franchisees.

Marketing

This section describes the target market and answers the customers’ questions and how they will be attracted to your business. Outline the competitive advantage your new franchise will enjoy in the market and describe how potential customers perceive the value of your product or service. It will be necessary to briefly outline your marketing and advertising plan and explain how and why they will draw customers to your business.

Pro Forma Financial Projections

Income statements, cash flow statements, and balance sheets that are clear about the anticipated financial performance of the business are found here. All of the material assumptions used to prepare these projections must be carefully and extensively outlined here. When you are working out your numbers, it is crucial to be very conservative. Lenders are realistic, and they understand that unexpected challenges arise no matter how prepared you are.

Financing Needs

This section analyzes all of your startup costs, including the working capital required for the marketing plan and the operating expenses until the business gets to its breakeven point. Occasionally entrepreneurs get to this section, and after crunching all the numbers, they discover that the franchise may not be a good venture or the right fit. It’s much better to understand this sooner rather than later. It’s not a failure at all – it’s good business. When you are writing your business plan, don’t be shy about using all the resources a franchisee will make available to you, including initial training and the Financial Disclosure Document. Some franchises are better than others, and the services of a business plan writer are invaluable. Lastly, remember that your business plan is not a static document tucked away in a filing cabinet. It should be reviewed and revised annually.

Get in touch: If you’re considering creating a franchise business plan, want to revise an existing business plan, or need any advice in the business plan writing world then get in touch! I’d love to hear from you.

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language school business plan

5 Tips for Creating a Language School Business Plan

 

5 Tips for Creating a Language School Business Plan

With more than 7000 languages spoken around our increasingly interconnected world, access to language learning resources has never been more sought after. Language schools can bring the world together by allowing individuals to learn new languages and break down communication barriers. If you have a passion for education and a desire to promote cultural exchange, this could be the right business venture for you. Developing a solid business plan could very well be the most important step in your language school. It might not seem very interesting compared to the exciting stages of launching, marketing, and actually seeing clients walk through your (newly painted) door. Still, those successes all stem from thorough business planning. 

1. Research

Knowledge is power, especially with a business plan. Ask the pertinent questions: How many students are interested in studying Academic English? How many students will be in each level per course? Who are your biggest competitors, and what are you up against? What about in terms of the profile of prospective students? Find out how many young and adult learners there are. Ensure your curriculum meets the students’ needs (i.e., personal growth, education, or broader career opportunities). These factors can help you decide what factors are high or low in demand and provide accordingly. Can you offer any or all types of instructions in your language school? English, Chamicuro (only a dozen people speak this language worldwide), sign language? With innovation, you can explore offering specialized modes of instruction to boost demand and ensure you won’t be competing within a saturated market. Know if there are legal requirements you need to comply with, like health & safety, fire, emergency exits, etc. Be sure to consider insurance costs, the number of classrooms you will utilize, and how many classes will run in each classroom per day. This kind of knowledge will support you as you go about managing your limited resources.

2. Do a SWOT Analysis. 

This allows you to map out the Strengths, Weaknesses, Opportunities, and Threats for your language school.

>   Strengths are assets you offer as the owner of your potential language school. For example, if you’ve been a language teacher for ten years, that experience will set you apart from anyone new to the industry.

>   Weaknesses are real shortcomings you can identify in terms of you and your business. Remember that acknowledging your weaknesses shouldn’t be shameful. Keeping your blind spots front and center helps you to avoid potential pitfalls.

>   Opportunities pinpoint inevitable outside forces. For example: “The Canadian government is extending a 25% subsidy on language preparation programs.”

>   Threats also refer to external influences that could wreak havoc on you and your language school. You need to anticipate solutions for possible business threats around you, so you are prepared if any of those worse case scenarios hit your business.

3. Make a Plan for Building a Team

It pays to have a plan for finding competent staff – not everyone will be an asset to you. Do you have connections or know capable people you can potentially hire for your language school? Will they be full or part-timers? Having a great team of passionate people that you trust will contribute to the success of your language school.

4. Do a Competitor Analysis

To assess the competition, follow the same process of gathering information as you used to generate your initial market research. Once you feel confident in your ideas, objectives, and courses of action, direct your energy towards uncovering the same things about your closest competitors. What are they doing well? If they seem to have a particular niche locked down, consider offering something unique. Or if they have courses that aren’t exactly thriving, it is a chance for you to provide a better version of those courses.

5. Work Out the Financials

This is the most critical part of your business plan. Map out your cash flow using a profit and loss plan. Solidify potential sources of finance and calculate how much you will bill your students for the course fees. The typical rate of language classes will depend on the instructor’s level and years of experience and the class size. Your revenue can increase considerably based on the number of teachers employed and the number of classes you can deliver per week. To minimize handling several students at a time, consider scheduling more group classes and fewer one-on-one lessons. In this case, it’s feasible for you to have at least two teachers conducting both the group and individual lessons. Time to get started on your language school’s business model. Be creative but realistic, and don’t forget to have fun! In addition to applying these tips, please feel free to contact me if you need help with your business plan writing.

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Clothing store business plan

5 Tips for Writing a Clothing Store Business Plan

5 Tips for Writing a Clothing Store Business Plan

Many business plans are wordy and repetitive, written to sound business-like but leaving you in the dark after reading. This guide will be short and straightforward. It doesn’t need to take multiple months to a year to get your business ready for take-off. A few strategic weeks of planning can be more than enough. Your business plan will help you outline and achieve your goals. It’s also a management tool that allows you to analyze results, make strategic decisions, and showcase how your business will operate and grow.

1. Carve out what makes your brand you:

Mission, vision, and values, that’s right. If you don’t have these ducks in a row, it will be increasingly hard for you and your business to stay authentic and clear as you move forward. 

Define your niche from the outset. Who are you designing for, and why? Starting a clothing business is personal, and you’re probably looking to introduce something a little different to a constantly evolving industry. 

Perhaps you’ve identified a gap in the market or have a unique design in mind for a specific customer group. Or maybe your clothing business is born out of something you’ve realized you’re genuinely passionate about, from eco-sustainable fabrics to unisex baby accessories. Keep your individuality in mind. As your business grows and evolves, these initial principles can still guide your decision-making and values.

2. Prepare and draft.

This initial document doesn’t need to be perfect. Draft your business plan to be reviewed and adjusted to help you identify and reach your goals. Working through your business plan and starting with a one-page pitch (link to our one-page article) can help you test the viability of your business idea long before launching. Investors and loan providers need to know that you have a solid understanding of the trajectory of your business. Ensure you understand and can provide:

  • The correct financial statements.
  • Forecasts.
  • An easy-to-swallow explanation of your business model is available for potential investors.

3. Organize the nitty-gritty. 

You’re eager to get started and maybe planning to buy a sewing machine and get straight to work. But spend a moment on the logistics. Where will you be located? Are you working from your living room with a plan to upgrade into a small studio? Are you selling online or opening a bricks-and-mortar shop front? Do your research as specific rules apply for online businesses or market stall traders.

4. Scope out the competition. 

This is where you need to put in the groundwork. To understand what your business needs to offer, you need first to identify your competitors. How long have they been in business? What are their annual sales (if they are public)? How do they market themselves? Once you have a sense of who you’re up against, compare your product to theirs and get a sense of what to do (and not do).

5. Clarify your budget. 

The fashion industry depends on global shifts and evolutions. As such, it’s hard to predict, and nothing is guaranteed. So, while it pays to have a plan A, you also need a plan B, D, and C. Keep things simple as you enter the scene. Plan to develop one design you love and know-how to manufacture (or buy) and test the waters. This approach allows you to make changes on the fly without committing to a wide selection of products that no longer make financial sense to offer.

Your budget will vary depending on whether you’ll design and make the clothes yourself or buy from designers at wholesale price. Either way, start small. Invest in smaller designers and/or essential equipment, and as demand grows, you can review potential upgrades or expansions.

That’s it!

And now you’ve written your business plan! Business planning isn’t easy, but when brands put in the effort at the start of their business, they have a much higher chance of success and growth.

Looking for business plan advice?

I know all the ins and outs of business plan writing. Feel free to contact me with any questions regarding business, marketing, or financial plans!

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Top 5 Reasons to Hire a Business Plan Writer

Top 5 Reasons to Hire a Business Plan Writer

When starting a new business, all entrepreneurs dream that it will be a remarkable success in the future and try to focus on the outcomes of the business. However, one thing that should never be skipped is having a professionally- written business plan that touches all aspects of the business. Careful business planning consists of all valuable information regarding the business, helping to secure investors’ capital to get the business started.

This business planning stage can be the determining factor as to whether the business is a success in the future, that’s why it’s essential to have a professionally written business plan. Hiring an experienced business plan writer is the key to any new business.

Professional business plan writers will conduct relevant research and gather vital information needed for the business plan. This saves business owners time which they can then focus on other areas of the business.

#1 Specialized Skill Set

When you hire an experienced business plan writer, you are hiring a professional who knows exactly what needs to be in a well-written business plan. The key is to have an outstanding business plan for potential investors.

Business plan writers have the skillset and knowledge that allows them to present what investors look for in a business plan. They typically know the business plan format that investors look for when they review it.

#2 Crucial to Business Success

Business plans focus on the most important aspects of the business such as the overall profitability and growth of the business. Business plans that are well-written by a professional business plan writer have a much greater chance of attracting new investment, which is crucial to its chance of success.

A business plan writer will outline how the company operates including its market growth, sales, and production. This is where the business plan is written to capture the overall mission and goals for the business in the long term.

#3 Save Valuable Time

Preparing the perfect business plan for any business can take time to ensure that it includes all the main points of the business while being appealing to investors.

It can take some business owners days, or even weeks to compose the ideal business plan. By hiring a professional business plan writer, business owners can save time, and switch their focus back to their business. At the initial stages of any business, entrepreneurs want to ensure their focus and time are fully in the business, so that they can produce the best ideas for their business. By hiring a business plan writer, they have one less important task to worry about.

#4 Business Planning Expert

Business plan writers are much more than just writers. They can offer business owners insights and advice regarding their own business planning. When hiring a business plan writer, you are getting more than just a writer. You hire someone who has extensive knowledge in the area to help plan out the business and to place it in its best position for growth.

 #5 Revamp Existing Business Plans

Many business owners attempt to put together their own business plans but cannot obtain funding for their business. By hiring a professional business plan writer, they can step in, and revamp the existing plan to be more appealing to investors. In many cases, this will involve a deeper analysis of the business, so the writer is able to capture all the main points and can write in a more persuasive and professional way. This can be the case for old and existing business plans which are no longer relevant, or accurate for the business.

Looking for a Vancouver-based business plan writer? Contact me here, and I’ll be happy to answer any questions you may have about your business plan requirements.

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marketing plan vancouver

How to Choose the Best Marketing Platforms for Your Business

How to Choose the Best Marketing Platforms for Your Business

Alright, business-savvy peeps— you have your awesome business plan in your hands, and now it’s time to sort out the marketing. As you get busy running your business, it can be challenging to spend time mastering all the different marketing avenues available. Narrowing it down to a few select platforms will allow you to focus your efforts and get the best return on your time investment. 

So, how do you choose the right social media platforms for your business?

Market research is a key part of developing your marketing strategy. It allows you to collect information and gain insight into your customers’ location, demographics, rationale, and buying patterns. Thorough market research will also allow you to craft an initial sales forecast and keep an eye on what your competition is doing. 

Here are three tips to help you get started.

1. Identify your audience

There is an unlimited number of potential customers, and trying to advertise to everyone can be expensive and ineffective. For the purpose of market segmentation, you must choose your most viable option and move your product forward from there. Grouping or segmenting your potential customers based on certain characteristics will help to focus your marketing efforts. Consider the more obvious factors, such as:

  • Geography – location;
  • Demographic – age, gender, education level, income, occupation.

But also underlying motivators, including:

  • Behavior – loyalty, attitude, engagement, readiness to buy;
  • Psychographic – lifestyle, habits, social status, personality, personal values.

2. Set goals that make sense for your business

Marketing goals will help you to define what you want to achieve through your marketing activities. Your goals should be SMART: specific, measurable, attainable, relevant, and time-based. You will also need to allocate a budget to your marketing activities. Your marketing budget should consider:

  • website development and maintenance
  • search engine optimization (SEO) strategy
  • brand design
  • creation of promotional material (online adverts, business cards, brochures, signage, etc.)
  • sponsorships
  • employing staff to undertake marketing activities.

3. Choose your marketing avenues

Options include a business website, blogging, brochure and flyers, networking events, print advertising, word of mouth, cold calling and letter drops, and of course, social media marketing

Social media is a great way to interact with your market segment. It allows you to connect with your customers easily and address questions and concerns quickly. This makes them happy and bolsters your reputation. More than 3 billion people report using social media regularly; many of those people don’t just connect with their friends and family — they use social media as a way to follow and learn about different brands and companies. In a recent survey of 250 business executives, 85% report that social data will be a central source of data collection for their company moving forward into 2021 and beyond. 

When it comes to social media marketing, your best bet is to research which platform best fits your brand. This includes evaluating the different platforms to see if your customer base is there, whether or not they’re engaging with brands, and if the platform jives with your brand’s personality. Facebook, Instagram, Twitter, LinkedIn, Pinterest, etc.; each platform offers its own advantages and potential drawbacks. Social media allows you to develop your brand and voice and monitor and improve your search engine rankings. The global market has moved online, and it may benefit your business to follow suit.

Conclusion

Right marketing platform can be a powerful tool. It can turn your website into a lead generation machine and build your brand. But, you have to make sure you choose the right platform. Only then will you see the benefits unfold. Looking for a strategic marketing plan? My marketing plans focus on digital strategies to help grow your brand and bring in leads. The plan will give you the necessary resources and strategies to grow your business. Please message meany questions you have about marketing plans. I can’t wait to start working with you!

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vancouver business plan writer

Tips for Writing a One-Page Business Plan

Tips for Writing a One-Page Business Plan

The old adage ‘less is more’ might just prove to be true when it comes to making a business plan. Minimalism is effective, and recent business pitches have seen entrepreneurs and start-ups utilizing the one-page business plan to get the funding or external investment conversation started.

Benefits of condensing your business plan

A one-page business plan is all about efficiency, summarizing your strategy into one easy-to-share page. It’s a handy snapshot you or your team can refer to every now and then to ensure you’re on track. While each specific goal can be flushed out with more detail and specificity, the concise one-page business plan enables you to create a straightforward strategy that is easy to pitch, explain, and compare. The readability of your business plan – such as keywords and short phrases – means that important information stands out, assisting you and your team with meetings and assessments.

Don’t discard important detail.

A one-page business plan mustn’t be missing any crucial detail. Just because this is a shorter version of your business plan doesn’t mean you can skimp on the research needed to back up your objectives and strategies. Your condensed business plan must have one paragraph on identifying the problem and offer a solution. Layout who you will serve and what problem you’ll solve for them with your strategic and innovative plan. And don’t forget to explain exactly how it will be profitable.  

Include a Market Analysis

Include a couple of sentences about your primary target market and the customer or client needs within this market that you will be addressing. Describe your market niche, keeping in mind that the more specific the target market, the better. Conclude this section with detail about how you plan to differentiate your product after your target customer base.

Management Structure

Include your team and their titles. Who is who in the business, but keep it short. If investors have questions, they can always ask for your resume and Linkedin profile link.

And a Competitive Analysis

In your shorter plan, highlight a few key points about the competition: Which products and services are most competitive to yours?  Where will your product or service have the most significant opportunities? Where will you face the most severe threat? Keep your answers short and to the point.

Strategy

This is what sets a one-page plan apart from longer descriptions. You need to (very briefly) explain how your business will be different from your competitors. Describe your unique selling points (USP). It will be difficult to craft this section into just a few sentences, but by doing so, you’ll not only have a clearer idea of what you’re doing, but you’ll also have a short and compelling pitch.

Products and Services

Write a sentence or two on your plan to position products/services and a competitive evaluation of these products/services. Provide detailed descriptions and focus on differentiation. Avoid too much deep technical detail and clarify what you’re bringing to market that nobody else is.

Marketing, Sales, and Financials

Focus on the one marketing or sales method that sets you apart. Quickly explain your strategy and how it will drive results and revenue. Keep your financial detail tightly focused on profit and loss projection. Highlight profit and loss projections, including gross sales, gross profit margin; selling, general and administrative expenses; and net profit. If you feel confident, include sales targets. The main objective of a one-page business plan is to hit the high points relevant to your business and leave the nitty-gritty details for a longer document (and hopefully a more extended business plan discussion) with a prospective partner or investor.

Have questions about your one-page business plan? Get in touch. I am always happy to help.

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competitor analysis

How to write the competition section of your business plan

How to write the competition section of your business plan

An investigation is key to preparing a thriving competitor analysis section of your business plan. You need to understand the markets your competition is catering to, learn everything you can about the products and/or services being offered, and analyze why customers choose this company.

Identify the purpose of your analysis.

In a management plan for business owners, the competition section provides a breakdown of the competition. You and your team look at comparative strengths and weaknesses to develop strategic positioning. In a business plan aimed at potential investors or lenders, a description of the competition is designed to reassure your audience that you understand the competition and are positioned to take advantage of opportunities and avoid pitfalls.

Gather information for your competitor analysis 

Visiting your competition is a great starting point, whether that means a URL entry or a trip to their physical store. Go and investigate. Look at the systems they have in place, price points, and how customers are treated. You can learn a fair bit about your competitors from talking to their customers and/or clients. Additional valuable sources of information about competitors include their vendors or suppliers, as well as a company’s past or current employees. They may or may not be willing to talk to you, but it’s worth a try. Seek out any publicly available information about your competitors. Online publications, newspapers, and magazines can contain information about the company you’re investigating for your competitive analysis. 

Analyze the competition 

Simply finding and listing the results of your research into the competition won’t be helpful by itself. It’s the analysis of the information that’s important. Study the information you’ve gathered about each of your competitors and ask yourself how you plan to compete with that company. The key to competing successfully for many businesses is identifying a gap in the market and a specific customer base whose needs are not being met and cater to them. The goal of your competitor analysis is to identify and expand upon your competitive advantage. Layout the benefits that your proposed business can offer the customer or client that your competition cannot. And remember that there is always competition. There are only two reasons competition may not appear to be a problem:

> Your business or product is so new and innovative that no one else has had time to replicate it, OR

> There’s a fatal flaw you’ve missed that others have identified; essentially, it’s not a good enough business idea to attract others.

Either way, competition still exists. In the first case, your competition is getting ready to jump in, so be prepared. In the second case, look at your plan more closely.

Use online reviews

When it comes to searching for and utilizing information, use common sense. Look for readily available information that will represent what you’re hoping to demonstrate. Credible online reviews are a quick and easy way to find evidence of quality. Websites, social media, and reviews are widely available on lots of local businesses. 

Source financial information

It can be challenging to access the financial data of privately held companies. More exhaustive research and speculation are sometimes required, such as numbers of employees, rooms, tables, vehicles, or stars in reviews. If you’re up for it, you could play the role of potential customer to gain insight.

Establish your competitive position

How well does your business compare? The goal of positioning is to set your business up against the background of your competitors, so the differences are apparent to your target market. What are you doing better? How do you work toward strengths and away from weaknesses? What do you want customers to think and say about you in comparison to others? Once you’ve drafted and perfected this section, pop it into your well-written and clear business plan and get ’em! Got questions? Call me at (778) 319-8550 to chat more about my business plan writing services or contact me here!

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daycare business plan

Tips for Writing a Daycare Business Plan

Tips for Writing a Daycare Business Plan 

According to Wikipedia, “Childcare, otherwise known as daycare, is the care and supervision of a child or multiple children at a time, whose ages range from two weeks to eighteen years.” Operating a daycare can be a rewarding personal and financial undertaking. Typically, profit margins are high, making it easy for owners to scale and grow their daycare operations. According to Canadian labour statistics, approximately 60% of children under six participate in formal or informal daycare. Each Canadian province and territory establishes legislation and regulations around daycare businesses, so online research or chatting with a savvy business plan consultant is an ideal place to begin defining your small business strategy. A business plan will help to shape and focus your idea of running a daycare. It provides direction, and if you’re going to seek out an investor or a financial institution, a business plan is an absolute necessity. Writing a business plan demands time and research, but it doesn’t have to be an arduous task. Numerous business plan writers in Canada are available for hire, and the cost of employing one is considered a business expense – a wise one. Here are a few tips on what to include in a daycare business plan.

Business Description

Daycare is an all-encompassing word for many distinct types of services, so you’ll want to spend some time defining what your niche is. Your description is an “elevator pitch” – a short, impact statement that gets investors excited about the business. Describe what sets you apart from other caregivers. This could include touching on your unique location, philosophy, approach, curriculum, quality of staff, neighbourhood needs, and how your business meets them. Professional business plan writers are absolute gold and can help mine your ideas and develop a professional business plan.

Business Needs Assessment

While you’ll want to introduce general trends in daycare, the most salient point is to narrow the focus to trends in your locale. Who is your target market? Real estate websites are a wealth of information about neighbourhood demographics. What is the median age of the neighbourhood? Will your daycare be in a bedroom community of a larger city? Is the area one in which the population fluctuates due to seasonal employment, potentially affecting business income? Who is the competition, and what will the differences attract customers?

Financials

Starting a business requires a great idea, but a successful business is built on sound financial planning and assessment. This is the section where the rubber meets the road. Having a solid handle on the numbers is, of course, necessary for investors or lending institutions, but it’s also an invaluable tool for you, the small business owner. You’ll want to demonstrate that the business will reach a breakeven point and begin to turn a profit in a reasonable period. Outline income and expenses and design a realistic contingency plan for unexpected operating costs. Your investors will want to know how many children will need to be enrolled to break even. Also, a rough estimate of bills and expenses like rent, utilities, insurance, wages, equipment, licensing fees, etc. When writing this section, it’s vital to be realistic and conservative. 

Operating Policies and Procedures

Include the daycare’s policies and procedures handbook here. Outline that your business complies with your region’s staff-to-child ratio. Furthermore, you also undertake extensive background checks, including fingerprinting and rigorous verification of references and education. A daycare center should have a clearly outlined disaster and crisis management plan. 

Who Will Run Your Daycare?

Your investors will need to know who is going to run your daycare. Who are your managers and staff? If you have employees on board, provide a polished resume for everyone and a detailed job description for every position. This section also identifies directors, a board, other investors, partners, etc.

Marketing Plan

Starting a small business requires considerable marketing efforts. The marketing plan is the tool you will use to attract customers. A business consultant who specializes in marketing is a terrific resource and a legitimate business expense. The plan outlines how potential customers will understand that you are different from your competitors. You must demonstrate that you understand your target market’s needs and how you will meet them.

Conclusion

The value of hiring a small business consultant or a small business plan writer can’t ever be overstated. Their services can vary from taking on the entire writing plan to providing experienced and thoughtful feedback on what you’ve crafted yourself. No matter what avenue you choose, your plan will be based on three to five years of business. Remember that it takes the average business two to three years to begin turning a profit, and your plan should reflect that. 

Let’s grow together

As a business plan expert, I help individuals, entrepreneurs, and companies of all sizes write professional business plans. Start today by requesting a quick discovery call to find out how I can help you craft an awesome daycare business plan.

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Top Questions Business Plan Investors Ask

Top Questions Business Plan Investors Ask

Business planning is essential for any business, especially if you’re looking for external investment. When pitching your business idea to investors, they will ask you many questions about your business and its operations.

Receiving those questions from investors means that they are interested, yet the more important question is whether you are ready with your answers to your business plan or not. Therefore, it is vital to have a professionally written business plan that outlines how the business can fill a gap in the market and the opportunities it will bring.

By hiring a business plan writer, business owners will be fully prepared for any of these questions investors may have. Professional business plan writers know exactly what needs to be included in a business plan to make sure it stands out to potential investors and answers any possible questions they may have regarding the business. So, let’s look at some of the top questions business plan investors typically ask:

#1 Is There a Skilled Management Team?

Investors like to fully understand the management team behind the business, just as much as understanding more about the product or services. Investors will want to know if the team has the right set of skills and experience to grow the business. Some frequent questions investors may ask include:

  • Who are the founders & key leadership team?
  • What relevant experience does this team have?
  • Is this team capable of executing the business plan?
  • What are the plans to scale & grow the business in the future?

#2 Is There a Market Opportunity for the Business?

Investors will be looking for how big the market potential is for the product and services you plan to sell. They would also like to see how the business will grow in time and try to understand their potential return on the investment. To ensure these answers are readily available, a well-written business plan can provide actual data relating to the percentage of the market that the business plan captures.

“What do you need to start a business? Three simple things: know your product better than anyone, know your customer, and have a burning desire to succeed.” — Dave Thomas, Founder of Wendy’s

#3 What Has the Company Achieved So Far?

A crucial factor for investors that indicates whether the company is worth investing in is that if the business would have early traction with its customers or not. If the answer is yes, the business will be more likely to receive funding from investors or venture capitalists.

To answer this question, business owners must ensure they clearly outline this in their business plan with evidence to show early traction. A business plan writer can help to show any early traction and what the business has achieved to date in a way that appeals to investors.

#4 Do the Founders Understand the Financials & Key Metrics?

Investors will want to know if the founders understand the financials and key metrics of the business. Therefore, business owners will need to show that they have complete control over the business’s trajectory. An effective business plan can provide this information and a thorough understanding of its financials and key metrics. 

Please contact me here to discuss what we can do together to make your business plan right and appealing to the investors. If you are in Vancouver, we can meet for a business plan discussion. If you are located outside of Vancouver, I will be happy to jump on a Zoom meeting and discuss your business plan needs. As a Vancouver business plan writer, I work with clients from all walks of life. 

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business plan startup cost

How to Estimate Startup Costs – Writing a Business Plan

How to Estimate Startup Costs – Writing a Business Plan

Simply put, startup costs are the money you’ll need to launch your business and operate it for one year. One of the fundamental roles of a business plan is to help you determine the amount of money needed to start your venture. It’s easy to begin strong, but even the best businesses can stutter and stall simply because of unrealistic goals and underestimating the needed financial resources. If your business gets mired down financially, so does your credit, and you’ll soon find out how difficult it will be to secure more money. You may also find yourself paying a higher interest rate to non-traditional lenders. The simplest way to avoid this pitfall is due diligence and careful consideration of the startup costs. Start-up costs are crucial for your bank loan business plan and investor business plan, and a business plan expert can help you navigate these. Taking advantage of a business plan writing service is money well spent and a legitimate deductible expense. If you’re unsure who to hire, a good starting point is an internet search along the line of “business plan writing services near me.”  

The Sections

The easiest method to estimate startup costs is to work out three sections – spending on assets, spending on expenses, and a 12-month sales forecast. 

Spending on Assets

Businesses fall into three categories – brick and mortar, service, and online – and assets will vary for each. Startup assets are those items that are essential to launching the business. The keyword here is “essential.” For example, while a general contractor would love to have a new truck with all the bells and whistles, it’s unnecessary when an older reliable model does. Brick-and-mortar businesses will list assets such as desks, shelves, tables, cash registers, and inventory. A service business such as mobile pet grooming will include items like a vehicle, a table, scissors, and shears. An online homemade soap business asset could consist of pots, thermometers, moulds, oils, etc. Itemize each asset along with the cost. This will require some time and research, but generally, the information is right at your fingertips. Please resist the temptation to include computers and technology as assets because they are, in fact, expenses and can be deducted from taxable income.

Spending on Expenses 

Expenses can be put into one of two categories. The first is one-time expenses, things that you purchase once. These include incorporation fees, permits, logo design, website design, signage, and computers and technology. The second category is ongoing expenses, and items in this list could include business taxes, accounting services, business plan writing services, legal services, insurance, payroll and benefits, and utilities. When making your pitch deck to lenders, be prepared to give a high-level view of fixed (lease, insurance, utilities) and variable (payroll, shipping, etc.) expenses. After listing assets and expenses, add the two together. 

Sales Forecast

The third list determines how much cash will be needed for the period between the business launch and when it finally has the sales to cover costs and expenses. The most effective way to do this is by creating a monthly sales forecast spreadsheet covering 12 months. Many factors can cause business income to fluctuate. A furnace repair business, for example, will likely experience a lull during warmer weather, and a gift store is usually quite hectic around significant holidays. For each month, calculate the estimated sales, costs, and expenses. Subtract the costs and expenses from the sales for each month. This will provide a clear picture of potential cash shortfalls and is helpful in projecting when a business is likely to break even. Working out startup costs is a great time to talk to folks who are running similar businesses. Your local chamber of commerce is another solid resource. Connect with experienced business owners who are almost always pleased to lend a hand or dispense valuable advice to new entrepreneurs. 

One last caution

Avoid the temptation to “bootstrap” your startup costs. Bootstrapping happens when an entrepreneur attempts to spend as little as possible and stretches every single dollar. The danger in this behaviour is underestimating your needs and tanking the business due to a lack of funds. Looking for business plan writers in Canada? Contact me here, and I will be happy to help you estimate startup costs for your next business plan. 

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coffee shop business plan

Tips for writing a coffee shop business plan

Tips for writing a coffee shop business plan

A successful coffee shop can attract many beverage addicts to its door. In this highly competitive industry, proper execution is the key! You’ll want to know exactly what sets your shop apart from your competitors and how you’ll translate your competitive advantage to customers. A business plan is an essential tool that will help you establish your goals and create strategies to achieve your business’s milestones. Multiple factors go into creating a business plan for a coffee shop, from obtaining financing to finding suppliers and securing the right location. To make it easy, I’ve outlined the key areas you’ll want to focus on when creating a good business plan for your coffee shop.

Executive Summary

Use the executive summary to lay out the fundamentals of your business. A great way to get started is to create a synopsis of your business using the Who What When Where How strategy. Who is the owner(s)? Introduce the owner(s) that will be bringing the business plan to conception. What type of atmosphere are you aiming for? Will this be a sit-down coffee shop providing Wi-Fi, take and go, etc.? When do you plan on reaching certain milestones for your business? Outline the milestones and goals you’re looking to achieve and when you plan on reaching them. Be realistic and outline a good plan of progression. Describe the location you have or would like to secure and why this location would be a good match for your coffee shop. Where will you be located? How will you bring your vision to life? Securing financing, additional training, and hiring a commercial broker are just a few examples of what you may need to help get your business running.

Marketing Plan

Your marketing plan should outline your target market, SWOT analysis, and marketing strategies. Brick and Mortar coffee shops are localized businesses. Who exactly are you aiming to target? Students looking for a quiet place to study? Drive-by commuters?  A clearly defined target market shows potential investors and partners that you clearly understand your customer, thus effectively marketing them. A vital part of your business plan is your SWOT analysis. Take time to identify your company’s strengths, weaknesses, opportunities, and threats. Include your marketing strategy in the marketing plan section of your business plan. Identify each of your business’s goals and weaknesses and the exact steps you’ll take to overcome or achieve them. Be sure to include how you plan to get the word out about your coffee shop. Are you thinking of running an online social media campaign or relying on word-of-mouth advertising? Clearly state your strategy and how you will measure your strategy’s ROI.

Products

Coffee shops provide so much more than just the typical cup of joe nowadays. Signature drinks, unique pastries, and one-of-a-kind customer service contribute to bringing traffic through the doors. While offering something extra is a great way to attract customers, keep in mind that a simple cup of coffee may not cut it in this competitive industry. Consumers are keen on their coffee consumption and, more than ever, have an interest in the quality, roast, and sourcing of their coffee. Getting educated on the basics of brewing or hiring an experienced barista will help give you a competitive edge.

Operational Plan

The big picture! The operational plan looks at your business from a bird’s eye view with details intact. This is where you will want to elaborate on your business plan and revert to your executive summary with added points on your achievement process. Where will you be sourcing your products and supplies? How often? What is the cost? What is your hiring process? How many employees will you need? What is your expected budget? What license or permits do you need to operate your business? What are all of your startup costs? Where and how will you secure financing? When do you estimate you will be breaking even? Include your future financial projections.

Management

What will your day-to-day procedures look like? The management section of your business plan will include your daily operations. What are your hours of service? Who will be responsible for what tasks, and what will qualify them to take on these duties? What type of training will employees receive?

Your business plan adds validity and structure to your business ideas. Make adjustments and changes as needed and use it as a standard reference to keep your coffee shop’s goals on track. Need help? I’ll be happy to jump on a call to bounce ideas. If you are looking to open a coffee shop in strategic Canadian cities like Vancouver, Calgary, Edmonton, Toronto, or Montreal, and need a business plan writing service, contact me here, and let’s talk.

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SWOT business plan

How to write the SWOT Analysis section of your business plan

How to write the SWOT Analysis section of your business plan

SWOT is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. It’s an important technique that allows businesses to identify the advantages and disadvantages their company may have at present or in the future. The SWOT analysis is a critical part of the business plan. It plays a crucial role in determining the owner’s industry knowledge and realism. Both of these are vitally important if you’re looking to secure partners, finance, or decide how to grow your business continually. It’s the opportune time to analyze your market, fellow competitors, and target customers. Outlined below are tips to help you build a robust SWOT analysis for your business plan.  

Tip 1: Use accurate data. 

Create validation behind each part of your SWOT analysis with the use of accurate data. For example, if your company’s strength is its high-quality work or one-of-a-kind customer service, support your claims with customer testimonials or stats representing your percentage of repeat business.

Tip 2: Be concise.

Prioritize each section of your SWOT analysis by selecting only high-priority vital elements. A great way to do this is by grouping situations. If you happen to have four weaknesses related to lack of finance, bundle them under lack of financial resources rather than listing each situation that stems from the exact cause. 

Tip 3: Identify opportunities. 

Knowing the opportune time to act upon an opportunity is essential at any stage of business as understanding the timeframe in which specific opportunities will be available to you. By identifying a timeline, you’ll be able to prepare your business to take advantage of current and future opportunities as they become available.

Tip 4: Develop strategies

Perhaps the most significant advantage of creating the SWOT analysis for your business plan is reflecting and developing strategies that allow you to leverage your strengths and opportunities and mitigate your weaknesses and threats. Remember that opportunities and threats are external factors you don’t necessarily have complete control over, such as the actions of your competitors, customers, economy, and regulatory and seasonal changes. External factors require you to be able to adapt and pivot your business strategies as changes occur. Strengths and weaknesses are internal factors within your business, such as product features, location, distribution, staff, company structure, financial resources, and quality control procedures. The actions of the company can entirely alter internal factors. When creating your SWOT analysis, use the opportunity to evaluate how your strengths can minimize your threats and how your opportunities can reduce your weaknesses. 

As a critical part of your business plan, the SWOT analysis requires you to research and dig deep into what has and hasn’t benefited your company’s performance. Refer back to the points above when writing your business plan’s SWOT analysis section. Creating a solid, well-thought-out SWOT analysis will allow you to better utilize your strengths and opportunities and create a strategic plan to conquer your threats and weaknesses and reach your business goals.  Stuck on how to write a business plan?  Looking for business plan experts or just want to chat and bounce ideas? Get in touch today to find out how much a professional business plan writer costs. 

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Marketing plans

How to Define Your Marketing Goals (SMART)

How to Define Your Marketing Goals (SMART)

You’ve probably gotten the hint by now that I believe Planning. Is. Everything. Like Eleanor Roosevelt said, “It takes as much energy to wish as it does to plan.” How’s that for a real talk? As you fine-tune your advertising strategy (e.g., business planning and choosing marketing avenues), be sure to spend some time evaluating your marketing objectives.

Marketing objectives should precisely spell out what you want to accomplish through your marketing activities – within a specific timeframe – as you promote your products or services.

Setting objectives will help you set meaningful goals and create marketing strategies that support your big-picture business objectives. It will ensure that your marketing campaigns aren’t just gung-ho shots in the dark but are successfully contributing to your bottom line. And there are a number of important factors to keep in mind to ensure that you are setting practical marketing objectives.

There is a nifty acronym to help you remember these factors. All you need to do is ensure your marketing objectives are SMART: Specific, Measurable, Achievable, Realistic, and Timely.

The SMART approach not only ensures that your marketing activities are planned and managed effectively but also allows you to check back and determine whether your marketing activities were as successful as planned. If not, it serves as a guide for how you could direct your energies going forward. 

Specific

Are your marketing objectives clear enough? Have you written out exactly how success will look for you and your business and how you see yourself getting there? 

Objectives should not be broad, sweeping, or arbitrary. Also, use verbs (doing words) wherever possible to indicate exactly what action needs to be taken. Identify the exact steps of your plan and the market segment you are targeting. And then make sure your plan is clear enough that you can your objectives becoming ideal outcomes.

Measurable

Each marketing objective must be quantifiable. Look at whether a unit of measurement can be applied to determine the level of success in meeting your objectives, such as measuring a market share percentage or increased revenue figures. 

  • What tools will I use to measure the success of my marketing activities?
  • How will I know whether my activities have had any impact?
  • How will I get my hands on this data?

Achievable

Lofty goals are exciting to set, but if you can’t see a direct path towards making it happen, then it’s ultimately useless to you. You want to tick off your objectives within a reasonable timeframe. If your marketing objectives are too intricate or long-term, break them down into simpler, shorter-term goals. Identify your initial to-dos, things you can start today or tomorrow. From there, branch off into subsequent small jobs that will allow you to see your progress.

Realistic

Similar to making sure your objective path is achievable, you need to be realistic about what you can accomplish. We are all capable of extraordinary things, but if you set your sights too high from the outset, it can be quite disappointing (and downright disheartening) when things don’t go to plan.

Realistic doesn’t mean easy. Set targets that you and/or your employees will need to work hard to accomplish but ultimately have a chance of meeting. Check that every objective is possible within your proposed timeframe and your set budget.

Timely

Having a concrete end date is a powerful motivator. Open-ended marketing objectives often fall short because, well, they can be put off until tomorrow. Determine when you want to achieve your objectives, and do not adjust the date. When you reach that end date, measure your success rate using the measurement tools you planned earlier. Celebrate successes and learn from your mistakes. Your next, improved marketing campaign will aim to circumvent those losses. Need help? Let’s chat.

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Importance of a Business Plan?

Importance of a Business Plan

A business plan is a vital tool for many business owners and entrepreneurs, as it allows them to set out their goals for the business and track their progress as it grows. It is essential that a business plan is formulated correctly at the start of any new business so that it can help your business to have its best chance of success.

Business planning is the real key to success and allows you to provide a clear picture of all aspects of the business from finance and operations to marketing and product details. An effective business plan can be the determining factor of how successful your business will be in the long term and how quickly your business will grow.

Reasons to Have a Business Plan

To answer the question of the importance of a business plan, below are just some reasons why you should have a business plan in place when starting a new business:

  • Allows Effective Business Planning
  • Helps with Critical Business Decisions
  • Helps to Secure Funding/Investors
  • Allows to Set Business Goals/Objectives
  • Helps to Reduce Risk

Effective Business Planning

Business plans are essential for effective business planning and repositioning the business to meet changing conditions. A business plan is a foundation for business planning and prioritization where you strategically map how your sales fit with your expenses. In this business planning stage, a business plan allows owners to establish milestones and long-term goals for their business that are key to its success.

Critical Business Decisions

Business plans can have a long list of benefits for owners but one of the primary reasons for a business plan is that it helps owners to make better business decisions. By building a business plan, allows owners to determine the answer to critical business decisions ahead of time, by thinking on a deeper level about the strategies that can help answer the most critical decisions.

Secure Funding/Investment

To secure funding from investors a business plan is key to answering the key questions potential investors may have. If you’re looking for funding from the bank, venture capitalist, or an investor they will have questions as to whether the business owner has good control over the business’s trajectory. A business plan can provide this information along with evidence to suggest that there is a market for your business.

Set Business Goals/Objectives

Having a business plan can help to set out clear goals and objectives for the business, whilst keeping the owner accountable to the business’s long-term goals. By outlining SMART goals in a business plan, owners can set milestones which can then be used to set effective business goals to help guide sales strategies.

Reduces Risk

As we are all aware, owning a business does come with some element of risk but this risk is much more manageable with a well-written business plan. By business planning for revenue/expense projections, implementing operational plans, and understanding the market can all be laid out in a business plan to help reduce risk. By reducing these risks owners can have a clearer future for their business in the long term.

As you can see, a professionally written business plan for your business can have many benefits. Though the process of writing out a business plan can be time-consuming, and this is a time that many entrepreneurs just don’t have.

This is where hiring a business plan writer could be the perfect solution, as they are able to write the business plans to meet your requirements whilst writing in a way that is sure to please potential investors, banks, or government organizations.

Looking for a Vancouver-based business plan writer? Contact me here, and I’ll be happy to answer any questions you might have about your business plan requirements.

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Business Plan

Top Five Reasons Why You Need a Business Plan

Top Five Reasons Why You Need a Business Plan

So, you have a business idea—that’s great! But besides a clever idea, one of the most important things you can do to be successful is to develop a solid business plan. Whether your business is big or small, self-backed or financed through investors or banks, here are the top five reasons why you need a business plan:

#1 Brings your idea to life

If every idea equaled prosperity, we’d all be working for ourselves. But since the world doesn’t work that way, the best way to turn an idea into a profitable business venture is by fleshing it out by writing a solid business plan. And because our business ideas are often innately personal—even labor of love—a business plan helps put things in perspective, allowing you to view your idea critically and objectively to determine its viability in the marketplace.

#2 Creates a blueprint for your business

Like any stable structure, a solid idea needs the proper architecture to build a successful business upon, which a well-written and thought-out business plan can provide. And like any good blueprint, a thorough business plan establishes a framework for how to run your business, gives you the chance to iron out any kinks in advance, and helps focuses your vision and mission, and creates a path to success.

“The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer.” -Nolan Bushnell, founder Atari and Chuck-E-Cheese’s

#3 Leads you to the investment

A business plan is the first thing any potential partner, banker, or investor wants to see before thinking about handing you over any money. A great business plan can even attract their attention before you’ve opened your doors. And even if you’re starting up without any outside financial help, a business plan keeps your initial investment low by helping you avoid any unanticipated costs, and saves you time eventually, which is just as valuable.

#4 Introduces your business

Even though you came up with the idea, a business plan introduces your idea along with every aspect of your business and helps you figure out who you are as a company, and where you want to go. It also establishes your brand and lets any potential backers, stakeholders, and future partners get to know you and what you’re about. A well-written business plan can also teach you about any competition you may have, and how to succeed in the marketplace.

#5 Makes you more organized

From putting your idea to paper to reading the final draft, every aspect of a business plan prepares you to open your doors for business effectively. The planning process teaches you about your target customers, which allows you to better position yourself to reach them. The business plan keeps you organized and can help your company grow faster, achieve higher benchmarks, and multiply your chances of success. It doesn’t matter what your idea is, or how much money there is to be made, writing a business plan is the best thing you can do to ensure your company succeeds when so many others fail. Looking for a Futurpreneur Canada Business Plan Writer? Contact me here, and I’ll be happy to answer any questions you may have about your business plan requirements.

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Business Plan FAQ

Business Plan FAQ

When starting a new business, there is no denying the fact that a business plan plays a vital role in ensuring the overall business longevity and success. An effective and comprehensive business plan aims at in-depth market research while developing targeted strategies for achieving optimum success. A good business plan will cover all areas that tend to potentially affect the overall feasibility and profitability of the business model. The idea of a business plan is to highlight and outline a realistic image of the business, its assets, and projected business and financial goals for the future. As a business plan writer, I often get asked multiple questions regarding the business plan before my clients hire me. Here are some of the common business plan FAQs:

Do I really need a business plan?

The short answer here is, yes! Even if your business idea is clear in terms of how you’re going to start and grow the business, you will still need a business plan. A business plan is a clear game plan that helps business owners assess whether they have taken everything into account. By having a business plan, you are setting out a clear plan for the business and a business success barometer.

Do I only need a business plan for external investment or a bank loan?

Not at all, many business owners make this mistake of thinking the business plan is only required for financing from investors and that’s it. The benefits of a business plan far expand this and the person that benefits from a business plan is the business owner. A business plan will help to obtain a true picture of your own capabilities and your target market and help to set out strategies for the business. This is important when your business is up and running, as you will be able to determine if your goals are still being met or whether a business strategy calibration is needed.

When should I write a business plan?

The sooner you start the business plan preparation, the better! A clear path for your business will be visible as soon as an effective business plan is developed. It is fair to say that it is never too late to develop a business plan even after launching your business. If you are still planning your business and feel like a business plan is required, there is still plenty of time to have an effective business plan done. This can help change the course or success of your business. The sooner you do this, the better this will be for your business overall.

Why should I write a business plan?

Any entrepreneur or business owner should write a business plan as it dramatically increases the chance of success. A good business plan allows business owners to understand the likelihood of making a profit and determine initial start-up costs. Another key reason for writing a business plan is that it allows you to seek investor funding and see how much investment you need from potential investors.

Do I really need professional help to write a business plan?

To ensure the business plan captures the most important points of the business, the short and long-term goals, it is always advisable to hire a professional business plan writer. A business plan writer can spend some time with you to fully understand the business from different angles and capture this in a way to appeal to potential investors or banks. A business plan writer can also ensure correct terminology is used with the clear presentation of financial and company information.

How much does it cost to have someone write a business plan?

It depends on the business idea, timeline, amount of investment needed, and purpose of the business plan. I charge between $1500 and $5000 plus applicable taxes for a comprehensive business depending on the scope of work. If you want to discuss the exact quote, please contact me here and I will be happy to work with you.

Who writes a business plan?

A professional business plan writer can help you with your business plan. Whoever you decide to work with should have experience in business plan writing. A lot of entrepreneurs hire business plan consultants to draft their business plans. It’s always good to have a kick-off meeting before hiring someone to write your business plan. At the end of the day, the business plan is a written document of your dreams, ambitions, and ideas, and thus, it’s a good practice to get involved in the initial stages of business plan writing. I always start with a discovery call followed by a business plan questionnaire to get to know my clients and their business plan needs. Next, we sign a business plan service agreement and NDA. Finally, the hard work of business plan writing begins! I keep my clients informed about the progress all along the way.

How long does it take to write a business plan?

I usually take 2-3 weeks to deliver a comprehensive business plan.

How do I find someone to write a business plan?

Looking for a Vancouver-based business plan writer? Got more questions? Let’s connect here, and I’ll be happy to answer any questions you may have about your business plan requirements.

How many pages is a good business plan?

Most business plans are from 25 to 30 pages. There are also smaller business plans that are only a few pages in length. It depends on the purpose of the business plan.

What is a business plan format?

A business plan contains a standard scope of work unless a client has provided a different scope of work. I work with my clients based on their specific needs and develop a customized business plan for multiple audiences and various funding purposes.

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Main Sections of a Business Plan

Main Sections of a Business Plan

When starting out and developing a business plan, it’s important to remember that the form of the business often follows its function. Every business owner should have at least a clear business plan that accurately sets out the needs of the business. This is apparent for any business whether the emphasis is starting a new company, raising investment funds, or managing an existing business. All successful entrepreneurs when starting out with a new business will ensure they have an effective and well-prepared business plan. Business plans allow business owners to have a clear road map for their business no matter what the future obstacles may be. Most business plans are around 20 to 30 pages and are written in a way that is easy to read in simple business language. The business plan typically contains bullet points, tables, and financial projections to clearly display the main highlights of the business. Some of the main reasons why you need an accurate business plan can be found here. If you are wondering where to start writing a business plan, below are some of the core elements needed to create an effective business plan.

#1 Executive Summary   

The executive summary is the most important part of your business plan. The reason being many potential investors most likely will glance at the executive summary first to decide whether the business is of interest to them. When creating the business plan, you will need to ensure the executive summary is written in a way that the reader wishes to stick around and look further into the plan. This is where the unique selling proposition (USP) of your business is presented. It also contains a quick summary of the team, marketing strategies, and financial projections. The executive summary should be concise and under two pages. It should have the grab so that readers can gauge the business potential without going through the entire business plan.

#2 Business Description 

The business description will be where you provide an overview of the current business or proposed venture. This is where the business structure is outlined and how the initial ownership will be divided among founders. This section of the business plan will include the plan for the business, its legal form, with further information relating to the history and prior performance of the business (if any). This section also contains products and services, mission and vision statement, and location of the business.

#3 Market Analysis 

A market analysis is another crucial section of a business plan. This section presents your potential target market, its size and anticipated growth over the next five years (outlook). It also describes your target customers, competition, key success factors, regulation, and barriers to entry. The aim of the market analysis in a business plan is to show that there is an opportunity for the business in the current market.

#4 Management Team 

In this section of the business plan, you will need to name and offer insight into the background of each member of the team. This is an opportunity to show how the combined knowledge and skill set of the team can be beneficial to the company. Potential investors will be looking to see if the management team has the right skillset and is capable to get the business off the ground.

#5 Financial Plan 

A good business plan needs to include a financial plan that outlines the financial structure of the business. A financial plan breaks down the financial strategy and projections for the future. This section of the business plan should feature easy-to-follow financial analysis in the form of tables, charts, and graphs. In the financial plan, business owners need to demonstrate how this business strategy supports projected growth. Financial reports need to be included that clearly show projected income statements, balance sheets, and cash flow statements for up to 5 years. Business plans serve as a road to success! Looking for a business plan writer in Canada? Contact me here, and I’ll be happy to answer any questions you may have about your business plan requirements.

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Top Ways to Sharpen your Business Plan

Top Ways to Sharpen your Business Plan

Business planning is essential to ensure the survival of your business, but it wasn’t until the 1990s that it became popular to implement a business plan to sharpen your business. Nowadays, any business functioning without a business plan can be exposed and left behind in today’s business world. Business plans are defined as successful business maps that are used to entice investors and partners whilst providing clear business direction. Plans help businesses to achieve important goals and grow successfully in the future. So, given the Importance of a Business Plan, how should you go about sharpening your own plan today?

Quantify your Business Plan

Many business plans are mostly general with many business owners failing to provide clear financial figures or deeper level projections. By failing to provide this information, you are leaving your business plan short of vital information. If your business plan does include accurate details, then your plan is sure to be more solid and stand out to investors. To sharpen the plan, it’s worth including plans and goals for revenue and how you will plan to keep costs down.

Revisit your Business Plan

A good business planning strategy is to revisit your business plan as your company starts to grow. Once business goals have been achieved, it’s good practice to revisit your business plan again. This is the time to sharpen your business plan with new goals to help steer your organization towards further success. Without revisiting the business plan as your business grows, your business will likely not grow as quickly and effectively as you want. 

Focus on the Finances

You should have passion for your product or service if you want to succeed. However, most entrepreneurs focus too much on the business story and not enough on financial success. When you apply for a loan, your business plan should outline how you wish to utilize the loan efficiently with clear plans for repayment. Similarly, your investors should also be able to look at the finances and feel comfortable investing in your business. 

Hire a Professional 

One of the best practices of business planning is to involve a professional to capture the most essential elements of the business in a professional manner. As a business owner, you want to ensure you focus your time on the business and leave the business plan to a dedicated professional to prepare on your behalf. By Hiring a Business Plan Writer, you can be assured that your business plan is written in the most effective way to help highlight your business.

I can help!

I have been helping start-ups and established businesses write business plans since 2011! I can help you develop a professional business plan that is simple, authentic, and has the wow factor for potential readers. Consider completing this form to explore how we may work together.

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What is a business plan

What exactly is a business plan?

What exactly is a business plan?

So, you’re looking to start a business – that’s great! However, writing a business plan can be more complex than simply typing your ideas into a Word document. A business plan is a presentation of your business idea and a roadmap of your business goals, vision, and mission. In simple words, a business plan is a document that describes details about your business and how you plan to make it grow and become successful.

Components of a Business Plan

A formal business plan can have the following components. However, the components of a business plan may vary as per your business purpose and audience. The typical components of a business plan include:

  • Executive Summary
  • Business Overview
  • Product/Service details
  • Market Analysis
  • Marketing Plan
  • Management Overview
  • Financial Plan, Indicators, and Projections

Business Plan Length

There is no fixed rule of how long a business plan should be; it depends on the business’s purpose, audience, and nature. It is worth discussing your business plan needs with a professional business plan writer, who can advise how long the business plan should be for your given purpose. A business plan writer can also advise on what should be included in your specific business plan to ensure all the requirements are met. Often, a business plan for a specific purpose, such as a PNP Business Plan, has a page limit or suggested word limit. It is best to advise your business plan professional on the purpose of your business plan so they can follow the guideline. Some of the reasons are bank loans, investor funding, government grant, etc. 

Business Plan Updates

Business planning is a life-long process; a business plan is not a document for life. As the business evolves, financial indicators and KPIs change. To ensure your business plan is relevant, you need to update it once the set goals are achieved. If a strategy or business model changes, the business plans must be revisited and revised accordingly.

Engage your Audience

In your business plan, you need to understand your audience and what language style is appropriate for them. Next, you need to understand your business plan’s purpose and write it in a way that engages your audience. In many cases, it is best to be written in laymen’s terms so the audience can fully understand the business plan’s contents. On the other hand, writing a business plan for a government grant would need to be written more formally.

Purpose of Business Planning

Most people assume business planning consists of lengthy reports or documents with charts or graphs. However, there is much more to it, and a business plan is a crucial component where you set out a clear layout for your business idea. The plan needs to clearly outline how the business will do and how it will grow in the future with relevant market data and research. A business plan should cover the points below so the audience has all the relevant information they need about the business:

  • A clear outline of business goals
  • Set out financial projections
  • Market Gap and industry analysis
  • Marketing Plan

Type of Business Plans

Depending on your business’s purpose, there are many different types of business plans, and it is essential to have the right one to highlight your business to meet its objective. Here are some types of business plans that I often get contacted by my clients:

Start-up Plan

A start-up business plan is needed initially to attract potential investors or lenders. It is a comprehensive game plan including a business overview, goals, financials, industry analysis, marketing plan, etc.

Strategic Plan

A strategic business plan comprises the company’s strategies, mission, KPIs, and implementation guidelines. Strategic plans are usually internal documents to facilitate management in making an organization’s policies and help set out business strategies for decision-making.

One-Page Plan

A one-page plan is also known as a quick overview business pitch. It consists of the most vital business details, including its operations, management, values, and mission, and summary charts of projections.

Expansion Plan

This plan is needed when a business wants to enter joint ventures, financial investments, or new acquisitions. It provides complete details of essential information about the company and its projections with proper market research.

Operational Plan

An operational plan focuses on the daily operations and how they contribute to the business’s overall success. It contains objectives for the company with timelines, deadlines, and measures to track progress.

Feasibility Plan

Feasibility plans are for those companies that plan to introduce a new product to the current market or an existing product in a new market. This plan includes market patterns, competitor analysis, consumer behaviour, and market research (both secondary and primary).  

PNP Business Plan

The PNP Business Plan must meet the immigration requirements of the Canadian government. The government of Canada asks that the following essentials are included in your PNP Business Plan:

  • Must clarify the type of business being purchased/established.
  • Demonstrate detailed financial projections for the business.
  • Must demonstrate how the business will benefit the local economy.

Looking for a professional business plan writer cost? Contact a local business plan expert to have your questions answered via discovery call about your business plan needs.

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