GENERAL BUSINESS PLAN
Market Research: In every entrepreneur’s life, there comes that moment when they have thought of the great idea, they know they can get the funding, and they are ready to go, but they are just unsure of exactly how to proceed; that’s where the Market Study comes into play. A Market Study, also referred to as a Market Research Study is an objective collection and analysis of information that covers your competition, location, target markets, and industry factors that could affect the success – or failure – of your endeavor.
While being a successful entrepreneur does, in fact, require both capital and a strong entrepreneurial idea, what’s even more important, and often overlooked, is feasibility.
A feasibility plan helps you determine the decisive factors that affect your success, leading to smarter investments and making it easier to overcome hurdles that may arise as your business gets up and running. Even more importantly, feasibility plans can help you determine where and how to establish your business, get you up and running faster by helping you determine the necessary capital and regulatory requirements of your industry, and your target market, and can establish a framework to support your financial projections.
SBA/Bank Business Plan:
When looking to secure funding for your business, you may turn to the Small Business Administration or a Bank for a loan. This process requires that you demonstrate that your business has the potential to succeed, so that you have the capability of repaying the loan as agreed.
Since most loans are paid off over the course of many years, longevity and sustainability are the key factors in an SBA or Bank Loan. With a business plan specifically created for SBA or Bank loans, you can provide your lending party with a realistic timetable, long term financial projections, managerial backgrounds and feasibility data that will help support your application, and propel it towards loan approval.
These types of business plans aim to demonstrate that you have thought out all the specifics of your venture, that you have assessed the risks and determined the strategies you need to implement to avoid them.
With an estimated 268,100 active “angel” investors and over 460 active venture capital firms in the US providing over $45 bb in funds to start ups nationwide, funding through investment is an attractive option for many entrepreneurs.
Unlike a bank or the SBA who fund companies through loans, investors aren’t just looking to make their money back. Instead, investors are looking for a return on their investment, to know that the money they invest will ultimately earn them more money, often in exchange for shares, or partial ownership.
For each investor type, you need to demonstrate that you have thought out all the facets of your operation, the possible challenges you may face, and the solutions to these challenges; there are no one-size-fits-all business plan solutions for these application. At Joorney, we create Investor business plans that are specifically geared to your targeted investor, tailored to your business specifics, and professionally written in as little as 10 days.