Small Business Development Center Home

A Business Plan Checklist:
Key Questions to Answer

Executive Summary

·         Why will the business succeed?

·         What do you want to start (or change)?

·         How much money is required?

·         Why is the venture a good risk?

Business Description

·         What type of business are you planning?

·         What products or services will you sell?

·         What type of opportunity is it (new, part-time, expansion, seasonal, year-round)?

·         Why does it promise to be successful?

·         What is the growth potential?

·         How is it unique?

Marketing

·         Who are your potential customers?

·         How large is the market?

·         Who are your competitors?  How are their businesses positioned?

·         How will you price the product or service?

·         What advertising and promotional strategies will you use?

Research, Design, and Development

·         Have you carefully described your design or development?

·         What technical assistance have you received?

·         What development needs do you anticipate?

·         What are the costs of development?

Manufacturing/Operations

·         Where will the business be located?  Why?

·         What are your facilities needs?

·         What are your equipment needs?

·         Are there other needs for production?

·         What activities are required to produce your product or service?

·         Who will be your suppliers?

·         What type of transportation is available?

·         What is the supply of available labor?

·         What will it cost to produce your product or service?  Per unit?

Organization

·         Who will manage the business?

·         What qualifications do you have?

·         How many employees will you need?

·         How will you structure your organization?

·         What are your plans for employee salaries, wages and benefits?

·         What consultants or specialists will you need?  How will you use them?

·         What legal form or ownership will you choose?  Why?

·         What licenses and permits will you need?

Critical Risks

·         What potential problems could arise?

·         How likely are they?

·         How do you plan to manage these potential problems?

Financial

·         What is your total estimated business income for the first year?  Monthly for the first year?  Quarterly for the second and third years?

·         What will it cost you to open (expand) the business?

·         What will your personal monthly financial needs be?

·         What sales volume will you need in order to make a profit during the first three years?

·         What will be the break-even point?

·         What will be your projected assets, liabilities, and net worth on the day before you expect to open?

·         What are your total financial needs?

·         What are your potential funding sources?  How will you spend it?

·         How will the loans be secured?

Milestone Schedule

·         What timing have you projected for this project?

·         How have you set your objectives?

·         Have you set up your deadlines for each stage of your venture?

·         Is there a relationship between events in this venture?

Appendix

·         Have you included all important documents, drawings, agreements, and references?

Top of Page      Small Business Development Center Home Page 

If you would like more information:  gallaghe.jani@uwlax.edu
Copyright © 2003 by the University of Wisconsin - La Crosse and the Board of Regents of the University of Wisconsin System. All rights reserved.