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Business PlanExample

3/22/15       
ReLumber Member

Does anyone have a BP they used that was successful they could share??
Thanks

3/23/15       #2: Business PlanExample ...
JR Rutter

1. Acquire tools
2. ???
3. Profit

In all seriousness, using a stranger's business plan is like using a stranger's toothbrush.

3/23/15       #3: Business PlanExample ...
mike

I recently saw the new 2015 quickbooks program has a self directed business plan built in. I cannot comment about it as I have not used it. As a side note I just read an article in remodeling mag. about this and they said the biggest flaw in most business plans was overstating expected income, understating expenses and misjudging overhead. Just a thought. mike

3/23/15       #4: Business PlanExample ...
Tim

Guys,
I just want a successful example for a startup.
Thanks

3/23/15       #5: Business PlanExample ...
John S  Member

I strongly agree with JR, every business plan is unique and non-transferable. Even the ideas contained within will not likely help you because you don't have the in-depth knowledge of the business that you gain through the writing process itself.

I have written several business plans over the years, some I used, some will never see the light of day. That's because during the process of writing the business plan (which took me months and in one case, years) I found out that my plan wasn't workable for one reason or another. It's only through delving into every nook & cranny, every single detail, that many issues come to light. If they were obvious you'd see them on day one, right?.

The most difficult part of writing a business plan is being "conservative". Of course YOUR business will be successful, wildly successful ... and that's what you tend to put down on paper. The advise I was given before I wrote my first business plan was, "Take your first year expected sales and divide by four. Now take your expected expenses and multiply those by two. That's still better than what you will do in the first year!" I balked at doing that the first time I wrote a business plan. I only made that mistake once, because it was dead-on.

You must also realize that a business plan is NOT a static document. You don't write it and then hope for the best, you write it, start implementing it and then, at some point, reality hits you in the face, so you adjust it to reflect the new reality. The original business plan will be so highly modified by the time you get to year five, that you will hardly recognize it. That's because businesses have to change to stay relevant and successful.

So let's say someone is willing (out of the goodness of their heart) to give you the "perfect" business plan. As long as you do exactly what they did, have exactly the same skills and abilities, the same drive, the same knowledge, the same thought processes, the same target market, the same product, the same production processes and equipment ...

Do you see where I am going with this? You can't take someone else's plan and make it your own, no matter how hard you try. There is no "short-cut" to opening a business, and a business plan is just a starting point anyway. Every business makes it through the first week, but if you want your business to be around in years from now, you need to have total control of how YOU will make that happen.

3/23/15       #6: Business PlanExample ...
Alan F.

Take advantage of your local SCORE agency, its free and helpful. They will work with you. (see link below)

and you can go here to find your local SCORE https://www.score.org/chapter-list

SCORE ALL BUSINESS PLANS

3/23/15       #7: Business PlanExample ...
Charles Member

I agree with Alan F.'s recommendation. SCORE is good. John S. is correct as well.

Also, take a look at SBDC (Small Business Development Center), a part of SBA (Small Business Administration).

I have worked with counselors from SCORE and SBDC. They are both helpful. SCORE counselors are retired executives. They are volunteers who are willing to give back by counseling others. SBDC are paid counselors who have been in their own business at some point before becoming a counselor. Both are free to the small business owner (you).

I understand you want to see a successful business plan. Of course, the details contained therein will most likely be useless as your specific situation will be different. What I think you really need is a good model plan to use as a prototype. That is, you want to see what is in a good plan. Again, I recommend SCORE and SBDC for additional information and training.

I do know that SCORE has a lot of free webinars for training as well. These are given by experts, and you can watch/participate from your own location making it easier to attend.

Best of luck,

Search for a local SBDC office...

3/23/15       #8: Business PlanExample ...
John S  Member

I agree with Alan and Charles that SCORE is a great resource for those starting a business (that's were I got my sales/4 & expenses X2 reference).

I also used a software package on several business plans, and personally would never go back to writing them "by hand". It doesn't do the thinking for you, but makes sure you think of things you might otherwise miss. And also does the formatting, makes everything look "clean & professional".

3/23/15       #9: Business PlanExample ...
Pat Gilbert

I have heard that SCORE is good.

You need spend 90% of your time on the marketing plan. Look at comparable business and how the are doing.

E.G. I have yet to see an electrical contractor go broke. OTOH 12 out or every 10 cabinet shops do go broke.

Not to pee on your parade, but eyes wide open...

3/23/15       #10: Business PlanExample ...
Alan F.

Pat,
that's the same 2 guys going bankrupt 6 times to get the 12 out of 10

Like Pat said
What are you going to sell?
What is the market price range?
If this is a bid price item, how do you know current prices?
How much will it cost to make?
What equipment do you need to reach that price point?
Who are you going to sell to?
Why are they going to buy from you?
How long will it take from when you get a permit to (you will start spending about 2-6 months before this) until you are selling product and getting paid?
Do you have that much business operating cash and credit?

3/23/15       #11: Business PlanExample ...
Mel Member

How is seeing someone else's business plan not a legit wish? Or is it somehow too personal to share? Or a revealing of cards? Just curious--I'm not in your shoes :)

Thinking that if I had to write my first one I would sure as heck like to see what someone else's looks like. Just to get a flavor sample of sorts.

Am I missing something?

3/24/15       #12: Business PlanExample ...
Pat Gilbert

"that's the same 2 guys going bankrupt 6 times to get the 12 out of 10 "

Something like that, they were named Hard Luck and Dusty Trails

3/24/15       #13: Business PlanExample ...
John S  Member

Hi Mel,

I think part of it is that it is very personal. Not that I don't want to share my ideas or that I think you would "steal" my ideas, not at all. But you have to understand that a business plan is a labor of love, you put your whole heart and soul into it. You spend literally thousands of hours pouring over every detail in your mind. By the time you are ready to show it to others (bankers, potential employees, future customers, etc.) you have already formed the company in your mind, and honestly, only you can truly comprehend it. Making others believe it is a matter of presentation and answering EVERY question that every person has.

Personally, I think looking at other's business plans would, at best, be a waste of time and at worst, be a mental block on how you should write yours. Your business, even if it is very, very similar to someone else's, will be totally different. Don't worry about how they did it, you are not them, do it your way, that's why you are starting a business, right? You have a better way, otherwise why are you even contemplating it?

I understand where you are coming from, I really do. I looked at numerous "generic" business plans before I started writing my first. But I quickly realized that other than format, they had little to offer and nothing I could really apply to my business plan.

I would again highly recommend purchasing a business plan writing software program. That will take away all the formatting issues and let you concentrate your time where it is best placed, in thoroughly thinking through how your business will work. That's the only thing that really counts in the end!

3/24/15       #14: Business PlanExample ...
John McGinnis

Website: http://tgcabinets.com

I found this within the "Samples" portion of a business planning software package that I have been using. Maybe this will be helpful.

Click the link below to download the file included with this post.

TrestleCreekCabinets.pdf

3/25/15       #15: Business PlanExample ...
Mel Member

Hey John!

Thanks for the straight-forward response. That does make sense.

Cheers,

Mel

3/26/15       #16: Business PlanExample ...
Jody

If I still had a copy i would share mine. We started 3 years ago this May and no longer reference it. Actually since day 1 it had no use. It was a tool for the bank and that was it.

There is one part that was done that was invaluable. Our financial forecast became a road map through the first year. It was done by a professional accounting firm that is highly respected. Using it with their letter head at the bank gave us immediate respect. On top of that once we did open the doors the first 5 months where mapped out financially and when we maxed out our line of credit at -$100k i was relaxed as we where right on track. We had planned for it, spent as per plan, had receivables as planned and stayed the course. No panic

The rest of the plan is going to change. You can't control who the customer is and where they will come from. What i thought i knew changed but the numbers (costs) where fixed and accounted for.

Good Luck with your new business you are planning for.


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