SUMMER COMPANY BUSINESS PLAN

What is a Business Plan?

Business plans are used by businesses of all sizes to state their objectives and describe how they will be achieved over a specific period of time. In particular, your business plan should say:

• What product or service your business will provide
• How you will market your product or service to gain customers
• How it will operate, where it will be located and what geographic regions it will serve
• What your start-up costs, monthly expenses, sales forecast and  expected profits are
• The risks associated with your business and your plan to manage them.

Why do you need a Business Plan?

Your business plan is your first step toward starting your own business. It is also an essential step in applying to the Summer Company program. It is important to describe your business idea fully so that a program provider can evaluate it and see how you plan to use the award money. Program providers can then help you develop your idea further, or, if it meets all program criteria, recommend you for entry in the program.

When should a Business Plan be prepared?

The sooner, the better. Sometimes, your first draft of the plan is different from the draft you submit. Starting your plan early helps you fully research and evaluate your idea. And if you need help, you’ll have time to get it.

Who should prepare a Business Plan?

YOU!  Assistance from consultants, accountants, book-keepers and experienced business people is definitely helpful. However, business plans are best prepared by the person launching the business.

Think through the elements of your business plan thoroughly so you have a good understanding of your market and what you need to do to be successful.  Show your plan to others for advice and comments, and modify it if necessary. The program provider near you is also available to help you at no cost; all you need to do is ask.

What's in it for me?