The business plan for your home based business is normally divided into two main areas: a description of your business and finances. The first area covered in your business plan for your home based business involves the description of your business. After the cover sheet, you should have a statement of purpose in your business plan for your home based business. Then you should begin describing your business. In this description section of your home based business plan you should be prepared to discuss what your business will be doing, how you are planning to market the business, competition, how you are going to operate, and even business insurance.
The next section of your business plan for your home based business includes all of your financial data. The finance section of the business plan for your home based business covers any loan applications, capital equipment and supplies, a balance sheet, a breakeven analysis, and profit and loss projections. You should include a three year summary in your business plan for your home based business, plus monthly details for the first year and quarterly details for your second and third years.
An additional section to the business plan for your home based business includes all supporting documents like tax returns of principals and personal financial statements. If your are opening a franchise, you should include a copy of the franchise contract and other documents you have from the franchisor in the business plan for your home based business. Other documents like copies of licenses, legal documents, resumes, and letters of intent should also be included in the business plan for your home based business.
Read the rest of the article here: The Business Plan for your Home Based Business.
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