BeautyTech Forums

Full Version: Help! Writing a Business Plan
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
Hi all

I have been trying to write a business plan for weeks now and have been hunting the web looking for help but I just can't seem to find it anywhere.

Can anyone help in this area?

I am at a total loss as to what to write. I have a template from the bank but I am a mobile nail tech so there is no shop, employess etc.

I am struggling if anyone can offer assistance I would be most grateful

What's the purpose of the plan? To obtain financing?
Yes, sorry should have wrote that.

I am looking to get finance either from my bank or from the government.

The business plan must explain how you'll use the money, and that you're a worthwhile risk. If you already operate the business, are you looking to expand, but stay mobile or establish a fixed location, take on employees, etc.? If you're already operating, your profit and loss statements and credit history factor heavily.
I can't speak to the government requirements for small business financing (especially in the UK) but it is universal that banks want to know what your source of repayment is. If you are using a loan for business operations, the business needs to generate enough income to cover your debt service (monthly payments) and then some. If you don't have the cash flow to support the loan payments based on your historical income statements (profit & loss) then you will need to prepare sales & expense projections (a proforma income statement) to show your banker how getting this loan will grow your business to a level to repay the debt. Your bank will then analyze the risk which includes your credit history, income history, collateral and your industry risk.

This site has a great deal of information you may find helpful.