In many cases, you will be required to prepare a business plan for your project. This is a time-consuming process and should not be taken lightly. In general, a business plan may take between two and four months, or longer, to complete. While this task seems daunting, it is a necessary step in the growth of your business.

The preparation of a business plan allows you to explore decision-making and prepare for what-if scenarios without real dollar investment. While the plan cannot cover all contingencies, it gives you a good idea of the day-to-day operations, as well as the overall objectives that must be achieved for a successful venture. The plan acknowledges your pricing scheme, supplier track, competition, marketing and sales efforts, key employees and management and operational costs. It helps you to find your business niche and set goals for future improvement.

REACH will help you prepare your business plan, assisting with concept development and validation, industry research, financial projections and writing.

While all business plans are specific to the individual venture, REACH follows this basic Business Plan Outline:

• Project Summary or Narrative - one-page overview summarizing the key points of the project.
• Detailed Project Listing - itemized list of all requirements to start your business, including capital, property, equipment, inventory and any other information.
• Management Team - people and positions involved in the operations of the company.
• Marketing Plan - extensive analysis of your industry, product, marketing, advertising, customers and competition.
• Financial Plan - three years of historical finances and current year finances in the case of an existing business; three years of projected finances.
• Appendix - separate from business plan, this should include any supporting data for your project, ie. resumes, equipment quotes, property descriptions.