Free TEFL Business Plan
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Free TEFL Business Plan

If you are setting up a TEFL business then it is wise for you to write a TEFL business plan. If you want money for your company this will assist you with it and even if you are fortunate to have sufficient funds to set up your own business then a business plan will be of assistance to you in your business approach. This will enhance the probability of your business being a hit, which cannot be a bad thing.

Your plan ought to consist of the following...

TEFL Executive Summary

Your TEFL executive summary ought to be written at the end (although must show first in your plan) following the ground work in preparation of your business plan - it is after all meant to be a summary of your business. This is the page that should grab the attention of the reader and make them value what your TEFL business is about. Commonly it should give the person who reads it three years highlights of your business or longer if you produce a more long term business plan - i.e. when the shareholder(s) are apt to start seeing some profit on their investment. The TEFL executive summary ought to refer to the main protagonists who are ready to assist manage the business and produce the profits for the investors and if any new management will be needed in the process. Click here for more free advice on how to write your executive summary.

TEFL Objectives

As the executive summary frequently includes the breakdown of the first 3 years - your objectives should also be set out for your first 3 years of operation - this might be a handful or could be much more exhaustive - it is entirely down to you, nevertheless having unrealistic goals to reach for your TEFL business in an unrealistic timeframe will put likely investors off rather than them being impressed at your high objectives.Read more about business objectives.

TEFL Mission

Various people see objectives and mission as identical things 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 TEFL business up to sell it whilst keeping a number of shares then you will have achieved success. To grasp your last mission you will in all probability need a quantity of smaller missions - these may be to attain a certain amount of earnings, to reach a certain quantity of customers, to trade 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 tell people how and why your TEFL business is going to be a triumph - if you cannot think of something to write here then you are doomed. Even if your remedy is in simple terms that you are going to work harder than the next guy - then at least that is something...but you'll need to back it up with some confirmation especially if you are looking for funding in your TEFL business.

Company Summary

Here you ought to compose a simple construct of your business over the next three years unless you have a long term plan.

Company Ownership

In basic terms note down who is going to own the TEFL business and allocation of share ownership and voting rights for and allocation of share ownership and voting rights for those shares - it is fairly normal for someone to be in possession of part of a business but hold no voice in how that business is run. You need to display if the business is a limited company, private, public or if you are a one man band.

Not sure which business structure to go for?

Location(s) and facilities

Where is your TEFL business going to be trading from and why are you going to be trading from this locality - you may not be capable of giving pinpoint address at this young stage but you have to narrow it down as much as you can, as clearly this will have a major impact on your business. It's usually easy to get premises for any TEFL business specially in this climate with so many businesses folding, but getting the suitable business premises for the right money is a different prospect completely.

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 TEFL Business.

Before you can sell any products or services you need to record accurately all of the items you are going to require and if you are going to require any money in order to pay for all of these items. You may possibly require to change your start-up summary depending on your economic circumstances - so you may perhaps prefer specific TEFL equipment however not be able to have enough money for it until you have sold a few units of product / service.

TEFL Start-Up Costs

This is a straightforward list of things you need to buy or things you can bring into the business if you already have possession of them before your TEFL business can start working. If you do not have sufficient money you ought to also add in who is going to offer this resource to get your TEFL business going.

Visit this page for more typical start up costs.

TEFL Investment

If you do not have enough cash you ought to incorporate the complete investment you are going to require and also involve the breakdown of the parties that are going to finance the investment. Take account of the equity being given away to fund this or loan agreements in order to finance the arrangement. 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 TEFL Business.

TEFL Business Plan Page 2

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