Planning For Success With SCORE

                                           Questions to answer before writing your businewss plan.

1. Product/Service

What is it? What are its features and benefits? What is unique about it? How will you set prices?

What is your selling price? How will the product/service be delivered? Where will you get your inventory/raw material?

2. Selling Your Product/Service

What market research have you done or will you do? Who are your customers? (Number, type, location, etc.; individuals or businesses?)  How will you advertise and sell to these customers?

What credit terms, other than credit cards, will you offer to your customers? Who are your main competitors? List your advantages and disadvantages compared with these competitors.

3. The Business (Present or Planned)

What is the name of the business? When was the business started? What are the business goals/objectives? What is the form of ownership? What is the owner's expertise? (include a resume)

What personnel are required to run the business? What will the hours/days of operation be?

How will the business be managed day-to-day? Give location details, lease, etc. What equipment, supplies, inventory, etc. are needed to start your business? What are your professional resources?
(Attorney, accountant, banker, insurance agent, SCORE)

What insurance is needed?

What potential problems could affect your business? (low sales, low profits, new competition, etc.)

What will you do differently if problems do arise?

4. Financial

How much money is needed for start up costs (itemize)? (equipment, inventory, supplies, renovations, signs, advertising, etc.)

Estimate your first year's profit or loss. How much money can you supply to the business? List other possible sources of money. How much do you need to borrow from a bank? (Start up costs PLUS losses until profitable MINUS other sources of money, including your own money)  How will you repay the loan? What is the available collateral (facilities, equipment, insurance, guarantees)?

How will you compensate the owner(s), including yourself? What is your outstanding debt (personal and/or
business)? Attach your personal financial records.

5. Miscellaneous Items (Describe what needs to be done for each)

Sales tax, Employee withholding, Regulatory issues (OSHA, minimum wage, disabled), Licenses/Permits

Zoning, Legal protection (patents or copyrights)

6. Other questions not covered above