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Serving Medina, Portage, Summit & Wayne Counties
BUSINESS PLANS
One Cascade Plaza
Akron, OH 44308
akronscore81@aol.com
www.akronscore.org
330-379-3163
1-877-AKSCORE
TM
We teach new dogs old tricks
SCORE is a resource partner of the U.S. Small Business Administration
Ref: Entrepreneurship for Ohio 9-22-09 (MO)
SCORE’s Mission Statement
Stimulate the Greater Akron
economy, which includes
Summit, Medina, Portage and
Wayne Counties, by using the
business knowledge and skills
of our volunteers to successfully
guide and lead entrepreneurs
and existing small businesses
toward their goals.
TM
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We teach new dogs old tricks
SCORE®
Nationwide
Akron SCORE
■ Resource Partner with SBA
■ 70+ volunteer Counselors
■ 11,500 volunteers — 390 chapters
■ 40+ years of service to the
business community
■ Small Business mentoring
and advice
– Face-to-face or e-mail counseling
■ Skills in business planning,
strategies for growth, and all
aspects of business operations
■ Business workshops for
start-up and existing businesses
■ 3,000 client services per year
– 40% follow-on mentoring
relationships
– 60% existing businesses counseled
■ Satellite locations: Kent State
University, Wayne College, Medina
Economic Development Corp.
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Akron SCORE Serves
4 Ohio Counties
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SCORE Partners
Economic Development & Entrepreneur Regional Impact
City of Akron
Economic Development
Summit County
Economic Dev
Greater Akron
Chamber of Commerce
Akron Schools
DECA
Portage County
Economic Development
Wayne College
Medina County
Economic Development
University of Akron
Akron Global
Business Accelerator
Small Business
Development Center
Akron
Urban League
Kent State
University
Partnership for the
Minority Business
Accelerator
Portage Lakes
Career Center
Hispanic Business
Association
Wayne County
Economic Council
International
International
Institute
Institute
Regional
Chambers of Commerce
Small Business
Administration
University Park
Alliance
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Counseling &
Business Workshops
Your success.
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■ Free and confidential
■ Long-term follow-up at a SCORE location, business
or a convenient place
■ Skill Sets:
-
Accounting
Advertising
Bidding & Estimating
Buy & Sell
Cash Management
Community Relations
Computer Applications
Construction
Credit & Collection
-
Education
Engineering
Environmental
Financial Analysis
Franchising
Human Resources
Insurance
International Import/
Export
-
Inventory Management
Leasing
Marketing & Sales
Patents
Product Development
Public Relations
Research & Development
Sales
Taxation
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Your success.
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Workshops Offered
♦ Business Basics
♦ Marketing on a Mini Budget
♦ Business Plan
♦ Great Customer Service
♦ Leadership & Management
♦ Financial Management
– Day & evening
workshops
– Various locations
– Customized
presentations
– All services are
FREE & CONFIDENTIAL
♦ Not for Profit
♦ Resume Writing
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Small Business
. . .the Pride of America!
Over 26.8 Million Small Businesses in the U.S.
Small Businesses represent 99.8% of all businesses
50% of All Goods and Services
50% of Our Nation’s Workers
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Issues of All Businesses
FINANCE
HUMAN
RESOURCES
PRODUCT &
SERVICES
MARKETING
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Small Business also means RISKS …
■ 10% truly successful
■ 40% operate marginally
■ 50% fail —
25% fail during the first year!!!
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Why Some Businesses Struggle
■ Owner/Manager inexperience…
– in the specific line of business
– in management
■ Owner/Manager inability…
– to manage tasks
– to manage others
■ Costs…
– underestimated
■ Cash Flow…
– not understood or not watched
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The Business Plan
A Management Guide
A Road Map to Achieving
Your Goals
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Business Plan
Documents a comprehensive detailed overview
of all aspects of your business. It provides:
■ The underlying structure that provides the basis
of your entire operations
■ The pros and cons of your proposed business before
you make a financial and emotional commitment
IT’S THE ROADMAP
TO YOUR BUSINESS SUCCESS
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Why Write a Business Plan
■ Establishes business goals and facilitates reaching
them successfully
■ Takes an objective look at your business —
provides critical, unemotional insight
■ Is an operating tool for managing your business
– Communicates your ideas
– Provides the basis for financing
– Aids in creating a successful marketing plan
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Importance of a Business Plan
Planning cannot be over emphasized--■
■
■
■
Forms the proper direction of your business
Pinpoints business needs
Identifies business opportunities
Spots problems
■ Provides view of market conditions
■ Identifies all costs and marketing pricing
■ Identifies and evaluates areas of strengths and
weaknesses
These insights will help you achieve your
business goals — QUICKLY & EFFECTIVELY!
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Starting Your Business Plan
 Define your business purpose
 Identify measures of success
 Do your market and industry research
 Visualize your business in 2 years
 Become familiar with standard format of a
business plan
 Start drafting your business plan
 Develop and review the plan with your SCORE®
counselor
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Business Plan
Review and use templates
■ Business Plan
■ Balance Sheet
■ Opening Day
Balance Sheet
■ Bank Loan Request
■ Personal Financial
for Small Business
■ Breakeven Analysis
■ Cash Flow Statement
■ Profit & Loss Projection
Statement
■ Start-up Expenses
www.score.org/template_gallery.html
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Business Plan Format
Business Plan Outline:
■
■
■
■
■
■
Executive Summary
Objectives / Goals
Mission Statement
Keys to Success
Company / Business Description
Environment
– Market & Industry
■ Strategies & Key Steps
■ Financial Projections
■ Contingency Planning
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Executive Summary
■ Write it last
■ 1 or 2 pages
■ Fundamentals of proposed business
■ When applying for a loan
– Amount
– Use of funds
– Repayment
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Refining the Plan
► For Raising Capital
BANKERS
–
–
–
–
–
Assurance of repayment
Amount of loan
Use of funds
Repayment terms
Collateral offered
INVESTORS
–
–
–
–
–
–
–
–
–
Dramatic growth
Share of rewards
Total funds needed
Use of funds
Estimated return on
investment
Exit strategy for investors
Percent of ownership
Financial reporting
Involvement
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Refining the Plan
► For Type of Business
MANUFACTURING
– Planned production levels
– Costs
 Production costs
 Overhead costs
– Gross profit margins
– Overall
 Each product line
 Capacity limits
– Purchasing & Inventory
management
– Anticipated new lines
– Competitive factors
SERVICE BUSINESS
–
–
–
–
–
Higher labor costs
Few fixed assets
Competitive factors
Pricing Model
Measurements for
productivity
– Quality control
– Strategy for keeping clients
– Use of subcontractors
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Refining the Plan
► For Type of Business (continued)
HIGH TECHNOLOGY
– Economic outlook for
industry
– Rapid change




Price
Cost
Market
Technology
– Bring product to market
– Intellectual property
protection
– Key personnel
RETAIL
– Company image
– Pricing/Markup policies
– Inventory
 Market turnover rates
 Your turnover rates
–
–
–
–
Location
Customer Service policies
Promotions
Credit
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We’re Here to Help
Call us for assistance
Check out our web site
330-379-3163
1-877-akscore or 1-877-257-2673
www.akronscore.org
akronscore81@aol.com
Attend our workshops
Avail yourself of our counseling
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Your success.
Powered by
One Cascade Plaza
Akron, OH 44308
TM
We teach new dogs old tricks
SCORE is a resource partner of the U.S. Small Business Administration
akronscore81@aol.com
www.akronscore.org
330-379-3163
1-877-AKSCORE