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You will want to have a Business Plan to project future years' income and expenses. If you have a bank or SBA loan, the bank will most likely require it. A Business Plan takes prior year data and projects it into the future based on trends and other assumptions. If it is your first year in business, you will base your plan on the best available industry data.
It is a good idea to compile the last five years income and expense information by pertinent category to help evaluate how your business has been performing. By compiling and simplifying the data, trends will become more apparent. You will get a much clearer picture of where you have been and where you are going.
We can help you prepare a Business Plan when you need or want it.
Please do not buy a business without a thorough and well supported Business Plan.
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