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Describe your customer profile and why customers want or need your product or service:

Describe convincingly that you are passionately committed to your new business and have the realism to make inevitable hard choices.

Describe the work experience in the business you plan to start including a list of skills and knowledge, which will be required in your business.

Explain the form of business organization you intend to use and why it is best for your business.

List what licenses you will require to go into business.

List the forms of insurance coverage including costs are anticipated.

Outline your location criteria -space requirements

Furnish, as a separate exhibit of your starting balance sheet and projected income statements for the first six months to one year.

Provide a separate exhibit of your one-year cash flow analysis including estimated sales, all costs and capital investments.

Provide a checklist of all expense items for input into your cash flow projection.

What are all of my costs: fixed, variable, product, delivery, etc.

Explain your: Intended internal controls and cash controls, check signing policy, strategy for controlling shrinkage and dishonesty and control of incoming merchandise.

Provide a chart or spreadsheet showing all of the sources of your start-up capital.

Describe in detail how you plan to use the Internet in marketing your product or service.

Provide a detailed breakdown of the costs involved in creating, operating and maintaining your e-commerce activities.

Describe how your best competitors utilize e-commerce and your strategy to improve on their practices.

List the following: Your consulting team: Attorney, accountant, banker, broker, etc.

Verification of seller’s revenues: how you plan to authenticate.

Sellers records to be inspected: Financial statements, income tax returns, sales backlog, cash deposit records, utility bills, accounts payable and receivable, backlog, financial comparisons of similar businesses, etc.

Inspections and approval of leases and contracts.
Appraisals, as appropriate.
Finance plan for acquisitions: include sources including seller financing.
Market conditions.
Value of goodwill.
Method of purchase: stock, assets, etc.

Describe your overall marketing and sales strategy including how you plan to get and retain customers.

Describe your plans and budgets for advertising and promotions.

Purchasing and Inventory Control -See “how to buy” checklist.

Describe your plans for hiring and training your sales associates.

Describe your strongest competitors and how you intend to compete.

How I Plan to Take Advantage of Competitors Weak Points – List your competitor’s shortcomings and how you can capitalize on them.

You might include development of profitable pilot operation, sources of financing, cash flow, accounting system in place, incentive compensation plan for managers, benefits package and policies, economics of scale.

Describe scenarios of adverse conditions and how you intend to respond to them. For example, how you would plan to handle a 25% reduction in sales, or new competitions, etc. Prepare a cash flow projection based on lowered expectations and show how and where you would reduce costs to maintain liquidity.

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