IntroductionA sample business plan is the first stop for any entrepreneur who wants to draft one for attracting investors. Is a sample plan a good way to start off. I would say it is just right to get started and understand what it is all about. It also helps in understanding the structure of a Bplan. However a sample is a starting point of creating a personalized plan.The ChallengeIt is a general trend that entrepreneurs start writing the plan but along the way get stuck, primarily in projecting income and expenditure, competition research and brining a professional touch. There are several online resources that allow download a sample. These templates have a well defined structure of different sections of a business plan and also provide hints to make the financial projections. In my experience, I have seen that the confusion starts when making projections. People are not sure where to start, how to derive approximate numbers and how to make a logical projection. At this stage the plan goes awry until a professional business plan writer is engaged. SolutionThe solution is a 2 phased approach to BPlan writing. As an entrepreneur you know your business better than anyone. So you would be the best person to write sections like the Executive Summary and marketing strategy. You can refer to a sample business plan to structure these sections and make them professional. Certain sections of the business plan like financials and market research require special expertise from people who have done it . Financial forecasting is not everyone’s job. It takes special skills and tools to forecast sales and calculate the break-even point. It needs to be understood that VC’s and angels are interested in numbers. They want to figure out how close they are to reality and how soon can they exit the venture after making handsome gains. To get all these parameters in place, taking the help of a business plan professional is very important. For an entrepreneur, writing a professional plan can be time consuming and frustrating. ConclusionWhile I agree that a sample is great to start off but it may not help an entrepreneur to write a professional business plan that is complete in all respects. Just incase you still want to go ahead there are professional business plan writing tools available that can help you to create a decent document that can be presented to VC’s and Angel Investors.
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Sample Roofing Contractor Business Plan Outline
Is it worth writing a lengthy business plan for your roofing startup? Business plan preparation can be time consuming and many entrepreneurs are tempted to go ahead without one unless they really need it to prove the viability of ideas to partners or investors.
Your roofing business won’t be a huge, complicated business for a few years anyway so why bother? Well, while I would not suggest that you spend months writing a 100 page report, it could be useful for you to have a 10 to 20 page document on your PC that can be your company blueprint for success. You can make changes to it as you slowly learn more about the business.
It will be the key document that sets out exactly how your business is run. If done properly you should basically be able to hand this document over to somebody when they buy your business and they can take over with very little of your time needed to explain things to them.
Here is a brief business roofing business plan template to give you some ideas on how to put your own together.
Contents Page and Executive Summary
This should be a summary of your entire roofing business plan. If you will be presenting the plan to interested parties then let them know the contents. Include a basic summary of your plans to start a roofing business. Outline the opportunities that you see in the market and what you plan to do in order to capture a piece of the pie for yourself.
Background in the Roofing Business
Prove to yourself or others why you are cut out to go into this business. List details on your education and any relevant experience that you have had in the roofing industry or in business in general. Outline your reasons for wanting to start a roofing business.
Mission Statement
Set out your company mission or philosophy in a few words or a short phrase. Try to think about what you want to achieve with your business apart from profits. You should be driven by a desire to deliver a quality service to people in way that satisfies them and provides great value for them while still allowing you to meet your goals. What kind of products and services do you want to deliver? How will you be different from all the other roofing companies?
Business Goals
Set out the goals that you have for your business in its first few years. Set realistic targets that you know are attainable so that you won’t be discouraged if you don’t meet them. Success can be measured by a number of metrics such as the total number of roofing jobs completed per month, the percentage of leads that become new customers or the productivity of your employees for example.
Startup Requirements
List down all of the products and services that your company will offer and then set out a list of equipment and inventory that you will need to get started. If you need to buy a truck then you will be looking at minimum startup costs of around $20,000.
Startup requirements will also include compliance costs. Depending on what state you are operating out of you may need a contractors license, insurance, bonding or to comply with a number of other relevant regulations.
Don’t forget that as well as purchasing all of the necessary roofing equipment you will also have to purchase materials for your first job. Clients will typically pay a large chunk of your total invoice upon completion of the job so you will have to foot the bill until you get reimbursed when they pay their invoice in full.
Structure, Ownership and Management
There are four basic options to consider for your business structure and they include sole proprietorship, partnership, corporation or limited liability corporation (LLC).
Outline how your business will be owned and make a note of the various parties that may have an ownership stake.
Set out a management structure so that there is no confusion among those involved with the business as to who is responsible for managing each part of the business.
Marketing Plan
Identify your target market both by location as well as other demographic factors and describe the kind of people or properties that make up your target market. Include the results of any market research that you do or local industry statistics that you are able to gather.
Set out a detailed plan for your roofing business marketing. This should include how you plan on getting enquiries, converting them into new accounts and maintaining them over the long term. It should also include brand development, pricing, advertising, a sales approach and other marketing methods.
Competitive Analysis
Write up profiles of your main local competitors and try to understand how they run their businesses. Borrow and adapt characteristics of their business that work and look for weaknesses in their business models that you may be able to capitalize on. Figure out how you will differentiate your brand from theirs in a way that allows you to stand out in the market.
Operations
Include details of the day to day operations of the proposed roofing business. Make a note of your office location, business administration and record keeping systems, plans to hire employees and procedures regarding roofing installations or repairs.
Financial Analysis
Outline some of the methods that you could use to obtain financing for your new venture.
Create a spreadsheet that shows anticipated cash flow forecasts over the first few years of business for a variety of scenarios. You can then determine how profitable you think the business will be in a number of different economic climates.
You will be able to find many free business plan examples online but it can be harder to find a specific sample of a roofing business plan. There are some business planning software programs that you can buy but they are usually just generic business plans that have been adapted anyway.
Financial Advisor Business Plan – Revenue Streams
Showing evidence of multiple revenue streams in your financial advisor business plan presents a more sound investment to potential investors and a safer risk to potential lenders. Any business which depends entirely on the work of the founder is, by its very nature, high-risk. If that founder should become sick or unable to work, there is generally no succession plan in such a company.
Advisor Revenue Streams
Advisors can charge fees in a number of ways. The manner that most clients would prefer is for fees to be performance-based, paying the financial advisor only when their investments and holdings increase in value. Of course, few financial advisors would agree to such a fee structure, as holdings will almost inevitably decrease in value during a market downturn. A second best model for clients, and better model for advisors, is to charge a fee that is a percentage of assets under management. If assets increase in value the advisor is rewarded with a higher fee. If the value would drop, the revenue to the advisor would decrease, but not become zero. This represents that, even in bad market times, an advisor can potentially be doing better for a client than he would be doing without the help.
When clients do not have significant assets or are interested in testing out the expertise of working with an advisor, the best fee structure might be an hourly rate for consultations. This is preferable for the advisor, and leaves it up to the client to decide if he or she got the expected value out of the conversations and advice given. Offering an hourly rate as well as an asset-based fee expands the market of who you can work with as an advisor.
Other Revenue Streams
Revenue streams for your business could be from a number of other sources. They could be from the sale of products you have created, such as reports, guides, worksheets, and programs to help clients, from the proceeds from seminars or webinars to multiple clients and potential clients, or from commissions on the sale of insurance or other financial products.
Notice that with each additional revenue stream that is added, there is potential for a conflict of interest. For example, if you seek to sell a certain report, you may have the incentive to withhold the information in it from advisory sessions with clients you work with. Whether or not you do so, there is the appearance that it might be in your interest. Also, if you receive commissions from certain financial products, clients may feel you will encourage them to buy those products even if it is not in their best interest, reducing the value of the advice you give in their minds. You have to be careful to uphold your reputation as a trusted advisor at all costs, and recognize the difficulties in adding potentially conflicting revenue streams.