Business plan and operating model

What should a simple business plan include?

A simple plan covers the offer, the customer, competitors, how you will reach customers, operations, startup and monthly costs, pricing and simple 12-month goals. One to five pages is enough for most small service businesses. Keep the plan where you will reread it, and update the numbers after three months of real sales. Lenders and partners may ask for more detail, but the short version guides daily decisions.

Go deeper: Write a simple business plan

How do I write an executive summary?

Write it last, in a few sentences: what you sell, to whom, why you will win, what it costs to start and what you aim to achieve in year one. Read it aloud to someone outside the business; if they can repeat what you do and for whom, it works. Avoid buzzwords and unsupported claims.

Go deeper: Write a simple business plan

How do I set first-year goals?

Pick three to five measurable goals tied to what you control: customers served, monthly revenue, repeat rate, reviews collected, inquiries per month. Review them monthly. Write each goal with a number and a date, such as 40 customers served by June, and note what you will do weekly to reach it. Adjust if the first months show a different picture.

How do I decide between home, mobile and storefront operations?

Compare what the work requires (customer visits, equipment, storage, food prep), local zoning and home-business rules, upfront and monthly costs, and how customers prefer to buy. Many owners start home-based or mobile and add a location later. Also consider growth: a storefront fixes your location, while mobile or home-based work can move toward demand. Write down the rules you checked and who confirmed them.

Go deeper: Choose a business location

How do I buy an existing business responsibly?

Review financial statements and tax returns with a professional, confirm what assets, contracts and licenses actually transfer, check reviews and the reason for selling, and get a written purchase agreement reviewed by an attorney. Ask for a period of transition help from the seller, confirm whether key customers and staff are likely to stay, and review any debts, liens or obligations attached to the business.

What should I check before buying a franchise?

Read the Franchise Disclosure Document carefully, speak with current and former franchisees, understand every fee and restriction, and have an attorney review it. The FTC publishes a consumer guide to buying a franchise. Ask franchisees about real costs, support, marketing value and how long it took to reach steady income. Compare the total investment with starting independently in the same market.

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