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Store Business Plan Writing Tips
The writer of a simple business plan for a new store should use simple language, avoid repeating himself, and always remember the needs of the funders the plan is targeting. Here are some tips for how to do that.
It cannot be stressed enough that the language you use within your store's business plan must be simple. Don't make any assumptions that funders reading the document will understand certain technical business terms. If you must use them, include a definition. Once you've written any section, look back to consider if it can be stated more simply - either with fewer words or with more common terms.
From what you learn about the requirements of each section of the business plan, it may appear at first that the plan calls for a fair amount of repetition between the sections. This is certainly true of the executive summary, which includes a summary of the rest of the plan and can include some of the same text repeated later on. However, you must balance the need to be consistent in how you describe your business throughout the plan with the need to make sure each section includes new information and is not merely a retread. Also, when necessary, sections can refer to explanations elsewhere in the plan rather than repeat those explanations. If a section does appear to require a total repetition of what you've written elsewhere, review the requirements for these sections again until you understand the intended difference. If this is not clear from the template or outline you are working with, seek another one.
Needs of Funders
The audience of the document must be foremost in the mind of any business plan writer. The plan is written primarily for funders. If these funders are going to lend or invest cash in your store, their requirements for risk and reward must be met. These will be different for investors and lenders. If you seek equity capital from investors, readers will want to see a high return proportional to each dollar invested. This return can be in the growth in the value of the company or in dividends. If you seek debt capital from lenders, readers will be comfortable with a steady, cash-generating business, as long as the risk from the company is minimal. Lenders will be more concerned with the value of sellable assets in the case that the business defaults on its loan than in the value of the company in a strategic sale.
Want more tips? Here's a related article: How to Open a Store.
Download Our Store Business Plan Template!If you want to create your own business plan quickly and easily, we now offer a store business plan template that allows you to develop a professional business plan in hours or days, not weeks or months.
Visit this link to learn more: http://www.growthink.com/sector/store-business-plan-template
OR, We Can Develop Your Plan For You
Our professional business plan writers can create your entire business plan for you. We will make sure your business plan is sound and ready for investors so you can continue to focus on running your business. Over the past decade, we have created business plans for hundreds of stores.
To speak with a Growthink business plan consultant, call 800-506-5728 or complete the form below.
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