Typically, financial institutions and other investors require a business plan before agreeing to finance a new business. Your business plan should include:
• A description of the business and its features.
• What goods or services you will sell.
• A marketing plan that indicates your customer base. • Research showing a need for your business.
• Staffing and management plans, showing how you will organize and run your business.
• Financial plans
These should show the cost of starting, operating, and maintaining the business and indicate what profit is expected and when. A potential new business owner must always be aware of the costs involved in starting a new business. All start-up costs and one-time expenses must be considered. The business owner will want to contact a financial institution and/or other investors in order to attain financing.
