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Free Clock and Watch Repair Business Plan
If you are setting up a Clock and Watch Repair business then it is wise for you to put pen to paper a Clock and Watch Repair business plan. If you need finance for your company this will assist you with it and even if you are lucky to have sufficient funds to set up your own business then a business plan will assist you in your business strategy. This will boost the probability of your business being a success, which cannot be a bad thing.
Your plan should embrace the following...
Clock and Watch Repair Executive Summary
Your Clock and Watch Repair executive summary ought to be written at the end (even though it must be found at the top of your plan) following the ground work in preparing your business plan - it is after all meant to be a summation of your business. This is the page that will grab the interest of the reader and make them know what your Clock and Watch Repair business is concerning. Generally speaking it should present the reader three years highlights of your business or longer if you come up with a more long term business plan - i.e. when the financier(s) are expected to start seeing some return on their investment. The Clock and Watch Repair executive summary ought to mention the main leading roles who are available to help run the business and generate the takings for the investors and if any extra management will be required in the procedure. Click here for more free advice on how to write your executive summary.
Clock and Watch Repair Objectives
As the executive summary typically includes the breakdown of the first three years - your objectives should also be set out for your first 3 years of operation - this may be a small number or might be a good deal more in depth - it's completely up to you, however having unrealistic goals to attain for your Clock and Watch Repair business in an unrealistic timeframe will put possible investors off rather than them being impressed at your grand objectives.Read more about business objectives.
Clock and Watch Repair Mission
Some people see objectives and mission as the same thing but they are not - objectives are there for you to meet your mission. The final mission of any business should be to get bought out! If you can build your Clock and Watch Repair business up to sell it whilst keeping a number of shares then you will have done well. To arrive at your final mission you will most likely need some smaller missions - these may be to attain a certain revenue, to reach a certain quantity of customers, to sell a certain number of units of a product or service and your objectives are there to meet this mission.
Check out some of these example mission statements before you have a go at writing your own mission statement.
Keys to Success
You need to tell people how and why your Clock and Watch Repair business is going to be a triumph - if you cannot think of anything to put in writing here then you are without hope. Even if your response is purely that you are going to put more effort in than the next guy - then at least that is something...but you'll need to back it up with some proof especially if you are looking for funding in your Clock and Watch Repair business.
Company Summary
Here you should write a basic construct of your business over the next three years unless you have a long term plan.
Company Ownership
Merely put in writing who is going to own the Clock and Watch Repair business and allocation of share ownership and voting rights for and allocation of share ownership and voting rights for those shares - it's reasonably common for someone to hold part of a business but hold no say in how that business is run. You need to disclose if the business is a limited company, private, public or if you are a sole trader.
Not sure which business structure to go for?
Location(s) and facilities
Where is your Clock and Watch Repair business going to be trading from and why are you going to be trading from this position - you may not be capable of giving pinpoint address at this young stage but you need to narrow it down as much as you can, as obviously this will have a critical impact on your business. It's more often than not straightforward to get premises for any Clock and Watch Repair business specially in this climate with so many businesses folding, but getting the decent business premises for the right money is a different prospect entirely.
Read more about business premises.
Start-up Summary for your Business
Before you start trading it's a good idea to have a business bank account and you are also going to have to choose a new name for your Clock and Watch Repair Business.
Before you can sell any services or products you need to write down exactly all of the equipment you are going to require and if you are going to need any investment in order to pay for all of these items. You may need to change your start-up summary depending on your economic situation - so you might prefer certain Clock and Watch Repair equipment nevertheless not be able to have enough money for it until you have sold several units of service / product.
Clock and Watch Repair Start-Up Costs
This is a upfront inventory of stuff you need to buy and things you can bring into the business if you previously own them before your Clock and Watch Repair business can start the ball rolling. If you don't have adequate funds you ought to also incorporate who is going to grant this capital to get your Clock and Watch Repair business going.
Visit this page for more typical start up costs.
Clock and Watch Repair Investment
If you do not have sufficient cash you ought to bring in the whole investment you are going to require and furthermore include the breakdown of the parties that are going to fund the investment. Add in the equity being given away to fund this or loan agreements in order to finance the deal. Will you require a small business bank loan? If you cannot get a bank loan don't worry there are alternative methods for funding your Clock and Watch Repair Business.
Clock and Watch Repair Business Plan Page 2
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