BUSINESS PLAN CHECKLIST:Key Questions to Answer Your First/Last Name* Contact Email:* Contact Number:* Do you already have the business filed with your Secretary of State (LLC/Partnership/Corporation)? If Yes, what is the name of the business?Are there any additional owners or partners besides yourself? If Yes, please name the owners or partners?Additional owners or partners: Additional owners or partners: Address of the business? How did you hear about us? Search Engine Google Facebook Twitter post Instagram post/story Other social media Email Radio Word of mouth I’m a YMA Financial Client Other (please specify below) *If Other, please specify 1. EXECUTIVE SUMMARYWhy will the business succeed? Explain:What do you want to start (or change)? Explain the type of business:How much money is required? Startup cost1. Products/Inventory: 2. Building Lease Monthly: 3. Furniture: 4. Equipment: 5. Office Supplies: 6. Business document fees: 7. Marketing: 8. Website: 9. Insurance: 10. License fees: 11. Labor Cost (Monthly): Why is the venture a good risk?2. BUSINESS DESCRIPTIONWhat type of business are you planning? What products or services will you sell? What type of opportunity is it? Why does it promise to succeed? What is the growth potential? How is it unique? 3. MARKETINGWho are your potential customers?1. Gender:MaleFemale2. Race:a. American Indian or Alaska Nativeb. Asianc. Black or African Americand. Hispanic or Latinoe. Native Hawaiian or Other Pacific Islanderf. Whiteg. OtherIf Other, please specify: 3. Age:a. Under 18b. 18-24c. 25-34d. 35-44e. 45-54f. 55-644. Annual income of customer:a. Below $10,000b. $10,001 - $20,000c. $20,001 - $35,000d. $35,001 - $50,000e. Above $50,0005. Educational Level:a. Vocationalb. High Schoolc. Some Colleged. College Graduate6. Employment:a. Employed for wagesb. Self-employedc. Out of work and looking for workd. A homemakere. A studentf. Militaryg. Retiredh. Unable to work7. Homeowner:YesNo8. Location: (US)AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyomingArmed Forces AmericasArmed Forces EuropeArmed Forces PacificHow large is the market? Who are your competitors? How are their businesses positioned? What market share do you anticipate? How will you price your product or service? What advertising and promotional strategies will you use? 4. RESEARCH, DESIGN, AND DEVELOPMENTHave you carefully described your design or development? What technical assistance have you received? What research needs do you anticipate? Are the costs involved in research and design reasonable? 5. MANUFACTURINGWhere will the business be located? Why?What steps are required to produce your product or service?What are your needs for production (e.g., facilities and equipment)?Who will be your suppliers?What type of transportation is available?What is the supply of available labor?What will it cost to produce your product or service? 6. ORGANIZATIONWho will manage the business? What qualifications do you/they have? How many employees will you need? What will they do? How will you structure your organization? What are your plans for employee salaries, wages, and benefits?What consultants and specialists will you need? How will you use them?What legal form of ownership will you choose? Why?What licenses and permits will you need?7. CRITICAL RISKSWhat potential problems could arise?How likely are they?How do you plan to manage these potential problems?8. FINANCIALWhat is your total estimated business income for the first year?What will it cost you to open the business? What will your personal monthly financial needs be? Do you expect any Utility (water/lights/gas) monthly cost? What sales volume will you need in order to make a profit the first three years? What will be the break-even point? What will be your projected assets, liabilities, and net worth on the day before you expect to open?What are your total financial needs? What are your potential funding sources? How will you spend it?How will the loans be secure?9. MILESTONE SCHEDULEWhat timing have you projected for this project? How have you set your objectives?Have you set up your deadlines for each stage of your venture? Is there a relationship between events in this venture? Subscribe to our newsletter