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Free Electric Motor Service and Repair Business Plan
If you are starting an Electric Motor Service and Repair business then it is wise for you to write an Electric Motor Service and Repair business plan. If you want capital for your company this will help you with it and even if you are blessed to have an adequate amount of money to set up your own business then a business plan will help you in your business strategy. This will boost the likelihood of your business being a success, which cannot be a bad thing.
Your plan should include the following...
Electric Motor Service and Repair Executive Summary
Your Electric Motor Service and Repair executive summary ought to be written last subsequent to you having done all the ground work in preparation of your business plan - it is after all meant to be a digest of your business. This is the page that should grab the interest of the reader and make them realize what your Electric Motor Service and Repair business is regarding. Commonly it ought to provide the person who reads it 3 years highlights of your business or longer if you possess a more long term business plan - i.e. when the investor(s) are liable to start seeing some yield on their investment. The Electric Motor Service and Repair executive summary should declare the chief protagonists who are available to help manage the business and produce the income for the investors and if any additional management will be required in the process. Click here for more free advice on how to write your executive summary.
Electric Motor Service and Repair Objectives
As the executive summary commonly includes the breakdown of the first 3 years - your objectives should as well be set out for your first 3 years of operation - this may perhaps be a handful or might be a good deal more detailed - it is completely down to you, however having unrealistic goals to realize for your Electric Motor Service and Repair business in an unrealistic timeframe will put possible investors off considerably than them being impressed at your elevated objectives.Read more about business objectives.
Electric Motor Service and Repair Mission
Various 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 sell it! If you can build your Electric Motor Service and Repair business up to sell it at the same time as retaining some shares then you will have achieved victory. To reach your ultimate mission you will in all probability require a quantity of smaller missions - these might be to attain a certain amount of earnings, to attain a certain number of customers, to wholesale a certain amount 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 ought to advise people how and why your Electric Motor Service and Repair business is going to be a hit - if you cannot think of something to write here then you are doomed. Even if your response is just 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 substantiation especially if you are looking for investment in your Electric Motor Service and Repair business.
Company Summary
Here you should compose a simple configuration of your business over the next three years unless you have a long term plan.
Company Ownership
In basic terms enter who is going to own the Electric Motor Service and Repair business and allocation of share ownership and voting rights for and allocation of share ownership and voting rights for the shares - it's reasonably common for somebody to be in possession of part of a company but hold no say in how that company is run. You need to express 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 Electric Motor Service and Repair business going to be trading from and why are you going to be trading from this position - you may perhaps not be able to give a pinpoint address at this young stage but you ought to narrow it down as much as you can, as obviously this will have a momentous impact on your business. It's usually easy to get premises for any Electric Motor Service and Repair business especially in this climate with so many businesses folding, but getting the suitable 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 Electric Motor Service and Repair Business.
Before you can sell any products or services you ought to write down exactly all of the equipment you are going to require and if you are going to need any money in order to pay for all of these things. You might require to amend your start-up summary depending on your financial situation - so you might desire certain Electric Motor Service and Repair equipment however not be capable of buying it until you have sold several units of service / product.
Electric Motor Service and Repair Start-Up Costs
This is a upfront record of stuff you need to buy and things you can bring into the business if you already be the owner of them before your Electric Motor Service and Repair business can start working. If you don't have adequate funds you should also include who is going to present this money to get your Electric Motor Service and Repair business going.
Visit this page for more typical start up costs.
Electric Motor Service and Repair Investment
If you don't have adequate money you ought to bring in the total investment you are going to need and in addition involve the breakdown of the parties that are going to fund the investment. Take account of the equity being given away to fund this or loan agreements in order to finance the contract. 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 Electric Motor Service and Repair Business.
Electric Motor Service and Repair Business Plan Page 2
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