Business Plan Tools

For everything in life, you need a plan, right?

The same can be said for business. Every business, whether a startup or a full fledged, profitable organization needs a business plan. In order to know where you are going, you have to know where you came from and what came before you.

In this article, we’ll explore the key elements of a winning business plan.

Executive Summary

An Executive Summary is a one or two page summary of your entire business plan. It’s often easiest to write your Executive Summary after you’ve finalized all the details within the plan itself.

Business Description

In your Business Description, you’ll need to include and define various aspects of your service offerings, an overview of the voice over and or audio production industry, the history of your field and any current happenings, your personal goals and objectives, elements that add to your success and the ownership of your company. This section is the backbone of your Business Plan and will set the stage for the information included in the rest of the plan.

Products and Services

Everyone has a product or service that they are offering to a prospective client. In your case, it is a voice over recording, music production, or even copy writing services. You should be able to describe what it is that you are selling as well as identify what makes your product or service unique and how you make it all happen in the studio.

Sales and Marketing

This section is very important. It gives you a window into the voice over industry itself, what’s going on as a whole, the state of the market, how much the general cost is of audio production, how business is acquired, and also affords you an opportunity to distinguish yourself from other competitors in the marketplace, for example, other voice actors who specialize in services that you provide.

While you are making the most of this section, also realize that just as people who walk by physical stores on the street can see what’s going on at a place of business, visitors to your website also have the ability to browse your merchandise and become familiar with your personal branding.

Make your website your online storefront both in thought and deed. Consider the following:

– You can provide samples or demonstrations of your product
– Graphics and or photographs are your visual marketing materials
– The URL (website address) is your “location”
– Equipment that you use and product delivery methods are manufacturing and shipping tools
– Website navigation is like the layout of a physical store
– If you have a site map, it helps to direct people to what they are looking for like a map in a department store
– Showcasing testimonials, affiliations and experience in easily accessible areas of your website builds credibility and instills trust with a customer

Presenting your contact information present enables people to do business with you. Detailing information about yourself, even though you aren’t actually in the presence of a prospective customer, gives a good first impression of your personality, qualifications and services.

Rather than just thinking of your website as a dormant place to tack your name on, kick it up a notch and view your website as an online storefront, truly, the place where business gets done.

Operations

Many of you operate a one-person company. This purpose of this section is to help you outline the more administrative side of your business, including how you operate, where your office is located, your staff or assistant if applicable, equipment, overhead and other expenses, legal relationships, your network of suppliers, and credit policies.

Management Team

If you have a few advisers or people who help you to manage your business, this is where you acknowledge their involvement and the capacity by which they contribute to your overall success. Also, if there is a hierarchy of positions within your company, you would detail that hierarchy and the relevancy of each relationship.

Development

This is where you can dream a bit. Not everything in this section is based upon pure fact like the information you would have provided above in the other sections of your Business Plan. Project into the future and think big. Development is a necessary part of business to remain competitive, so be sure to spend a significant amount of time when writing this part of your plan.

Financial Summary

Now, back to reality for a time! You’ll need to provide a record of your financial dealings, investments if any, and how you came to the position you are in today. With some flexibility, you can project how your company will be operating and assess your financial status, including how things balance out at the end of each month, the overall financial health of your business and your cash flow.

How To Write A Business Plan Outline Sample

1) Rome Wasn’t Planned, Funded, and Built in One Day

The process of putting together a coherent business plan will probably take longer that you estimate (an incoherent business plan on the other hand can take as little as 20 minutes). Along the way you will probably stop and say, “you know, we have not really thought our strategies out very well, have we?” or “we don’t really know our competition as well as we thought we did,” and you will take the time to hone your strategies and get up to speed on the competition before you finish the plan and present it.

2) Smaller Bites Are More Digestible

Start the plan with an outline. By breaking the large task down into smaller components, the task will not seem as daunting. A business plan can be viewed simply as the answers to a series of questions.

3) Style Points Count, Too.

The visual aspects of the document should not be overlooked. Color charts, tables of data to break up the text, paragraph headings, varying the typestyles–all of these contribute to making the plan easier to read, and to more clearly explain the business opportunity.

4) To Write A Plan, Read A Plan.

People who write novels are generally those who have read many, many, stories. They learn their craft by studying the works of their favorite authors. You need to do the same thing. Look at examples of business plans to get in your mind the writing style, the sequence in which the ideas are presented, and the parts to a plan. Sample plans are available on the Internet at sites devoted
to assisting entrepreneurs.

5) Pick A Section, Any Section

If you have never written a business plan before, you may have difficulty getting the project started. It will seem as though you have an awful lot of blank pages staring back at you. To get the plan moving, start with the section that is easiest for you, or of most interest.

6) Spend Quality Time With Your Plan.

People often underestimate the effort and energy it takes to write a business plan. They try to write it at night or when everything else at work is finished, in other words, when they are mentally and sometimes physically exhausted. A better approach is to write the plan when you have energy available to put into it: go in early and think and write for an hour before the phones start ringing.

7) First Drafts Are Always A Laugh.

The first draft of your plan will undoubtedly resemble incoherent ramblings–jumbled stream-of-semi-consciousness ideas that look nothing like what you had hoped it would. Don’t be disappointed or frustrated.

8) You Deserve A Break Today.

Put the draft away for a few days, come back to it fresh, and begin revising and rewriting. Magically, after several more revisions, the ideas will all come together and the language of the plan will flow.

9) The Plan Is Your Baby–It Needs To Look Like You.

The business plan should reflect the personality of your management team, and the type of company you want to create. As the reader goes through it, he/she should get to know the people involved in the company, their vision, their objectives, and their enthusiasm for the company and the industry. Tell the story of your company in your own voice. A plan for a music production company would look much different than a plan for a medical device manufacturer.

10) Not Everyone Has A Flair For Fiction.

Business plans are essentially works of fiction–documents that talk about what you imagine, plan and hope may occur in the future, not what has already occurred. This type of writing is difficult for everyone. You’ve heard of “writer’s block”. The problems you are having keeping the words flowing are precisely the ones faced by the great writers, except many of them have to keep going because the publisher has given them a unreachable deadline and they’ve already spent their advance, but you of course, having read tip #1 Rome Wasn’t Planned, Funded, and Built in One Day have allowed plenty of time to finish the business plan–so there’s no reason to feel pressured. Right?

Business Loans New York

Garden City, NY (PRWEB) March 22, 2007 — Business owners who have borrowed money in order to expand their businesses will benefit from a decision by The Guardian Life Insurance Company of America (Guardian) to increase the amount of loan obligations covered in the event of a disability.Guardian’s Business Reducing Term policy will insure up to 100% of monthly loan payments — principal and interest, provided the obligation rests with a single principle — should a business owner become totally disabled. This represents an increase over the policy’s prior level.In New York, Business Reducing Term is available through the National Financial Network, LLC, a Guardian General Agency.According to Charles Dunbar, a National Financial Network agent, Business Reducing Term addresses a critical gap in the contingency plans of many business owners.”As long as they can run their businesses, any loans they take out will be repaid from the earnings of the business. If they die, life insurance can pay. But if they become disabled due to sickness or injury and cannot work, their business assets could be lost due to loan forfeiture,” observed Charles Dunbar.Guardian is currently the only disability income insurer offering a product specifically designed to fund financial obligations that require periodic payments expiring at a given time. In addition to loan payments, other applicable client scenarios include business owners who offer guaranteed employment contracts to their employees and those who’ve purchased a business or professional practice with any amount payable to the seller over a specified period.”National Financial Network, LLC is in a unique position to offer our business-owner clients a product with which no other company can compete,” said Charles Dunbar. “By increasing its business obligation coverage levels, Guardian is signaling it long-term commitment to a key sector of the U.S.economy. About GuardianFounded in 1860, The Guardian Life Insurance Company of America, New York, N.Y., is the fourth largest mutual life insurance company in the United States. As of December 31, 2003, Guardian and its subsidiaries had $37.2 billion in assets. With more than 5,000 employees, approximately 3,000 financial representatives and nearly 100 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health and dental insurance products, and offer 401(k) financial products and trust services. As long as they can run their businesses, any loans they take out will be repaid from the earnings of the business. If they die, life insurance can pay. But if they become disabled due to sickness or injury and cannot work, their business assets could be lost due to loan forfeiture

Contact:

Charles Dunbar
National Financial Network, LLC
990 Stewart Avenue, Suite 200
Garden City, NY 11530
Tel: 516-240-1919

Finance For Small Business Owners

With the increasingly chaotic investment climate for residential financing in the United States, more residential real estate investors are exploring commercial real estate and business finance opportunities. It is important for prospective commercial property owners, business owners and business investors to educate themselves about options for the business loan and commercial mortgage environment they will be facing.

There are many critical differences between residential real estate investing and commercial real estate investing. Of the approximately 25 key business finance differences, some key factors will be addressed in this business loan report and other business financing factors will be discussed in a separate article.

Stated Income Business Finance Possibilities

Stated income business loan options will eliminate the need for a borrower to provide personal tax returns. However the stated income business finance approach will not eliminate the need to document income for the business being purchased or refinanced. Unlike residential financing, no documentation (no doc) loans are not available for a commercial mortgage.

Down Payment for Business Opportunity Financing – Business Finance

To purchase a business will typically require a business loan down payment varying from 10% to 25% (more in some cases). This amount will primarily vary according to credit scores, type of business, business experience of the borrower and whether business opportunity financing is required.

Commercial Mortgage and Business Opportunity Financing – Size Limitations

It is very difficult to obtain a commercial mortgage less than $100,000. A normal maximum for a stated income business loan and SBA loan situations is $2 million. A number of other business finance programs are limited to $5 million.

Commercial Mortgage Interest Rate Expectations

Interest rates for a business loan are generally higher than residential financing and rates up to 13% and even higher are possible. It is possible to obtain both fixed and variable commercial mortgage interest rates. Business opportunity financing typically has interest rates 1-3% higher than a comparable commercial real estate loan situation.

Business Finance and SBA Loan – Personal Guarantors

A personal guarantee from all principal owners is usually a standard requirement for business finance situations even when a business is titled under corporate ownership. Because of this, individual credit scores of the business owners will be an important factor to qualify for a business loan. Individuals should expect to personally guarantee a commercial mortgage if they own over 20% of a business.

Business Loan and Commercial Mortgage Appraisals

Commercial real estate appraisals are much more expensive and complex than residential appraisals and typically take several weeks to complete. The basis for business loan and commercial mortgage value is primarily based on the income generated by the business rather than an analysis of comparable properties prevalent with residential mortgage loans.

What About Other Commercial Mortgage Differences?

As noted previously, there are too many differences between residential financing and business finance situations to describe adequately in one article. Some of the critical issues discussed in separate reports are how to avoid common business loan problems, SBA loan financing, balloon and recall provisions for a commercial mortgage, business opportunity financing and special purpose commercial properties.

Copyright 1995-2007 AEX Commercial Financing Group and Stephen Bush. All Rights Reserved.

Financing A Small Business Purchase

The best way to think of short term financing is to focus on the current assets part of your balance sheet – those items include inventory and accounts receivable typically. Those assets can quickly be monetized into a working capital facility that comes in a variety methods. The reality is that your inventory and accounts receivable grow lock step to your sales and your ability to finance them on an ongoing basis will give you access to, in essence, unlimited working capital.
The business financing we are talking about can take many different forms – it might include an asset based line of credit, inventory financing or purchase order financing, a sale leaseback on unencumbered assets,, working capital term loans, or accounts receivable financing, otherwise known as factoring.
A lot of start up companies and small businesses are often put off the idea of applying for a business grant to help them with their finances and because of this many of these businesses are missing out on a great opportunity to gain extra cash for there business; cash that doesn’t need to be paid back.
You can avail finance for your small business by selling your debts and stocks in the mass market. But again, one thing you should know is that it is not a common method of getting any help because of its difficult procedures. A large number of small businesses are now funded with the help of debt finance through financial institutions like banks. In this context, banks provide small business owners a line of credit or loan with a repayment term and schedule, as well as, a rate of interest.
Invest time into fully understanding your business’s financial status. This means creating some kind of system for tracking key data points, or seeking outside help from a business finance specialist. When the time comes to seek financing, you’ll be fully prepared to find the right lender to help grow your business.
Debt finance can be a loan, bond or line of credit from a bank or other lenders, or even a simple IOU. It is usually the best option when the business project is very specific and has a well defined time line. The borrower needs to put up something as collateral as a form of security.
The equity option is feasible for broad and long-term financing needs which have no specific and immediate time lines for an ROI. To be noted that equity investors seek higher returns, even if it is after a relatively longer delay. The owner is not likely to regain full control in the short-term and probably not even in the long term.
The relevance of small business financing advice is especially real when you feel you can relate to the author of the blog. Perhaps their advice is being given towards the type of business you have because they currently own a business similar to yours.
The business financing we are talking about can take many different forms – it might include an asset based line of credit, inventory financing or purchase order financing, a sale leaseback on unencumbered assets,, working capital term loans, or accounts receivable financing, otherwise known as factoring.

Small Business Loan Start Up

We are offering you extremely large commissions just for making referrals to our company. It is legal, there is no license required to receive commissions on commercial mortgage loan referrals as long as the loan are made from one corporation to another corporation.

Just refer clients that need a commercial loan. We do all the work. You Get Paid.

Get other people to become Affiliates. They refer clients to us. We do all the work. You Get Paid.

Your Affiliates can also get others to become Affiliates; their Affiliates will be your Sub-Affiliates. Those Sub-Affiliates refer clients to us. We do all the work. You Get Paid.

You will receive two payouts on all deals:

Payout #1 is a percentage of the Initial Loan Packaging fee (I. L. P), which is paid to you up-front. This is based on the loan size. This is not always charged to clients, it depends on the amount of work involved.

10% of the Initial Loan Packaging Fee goes to you on deals that you refer.

You will also receive 5% of the packaging fee from your Affiliates

and 5% from your Sub-Affiliates’ deals.

Example: On a $1,400,000 deal the Initial Loan Packaging fee is $2,500. You will receive 10% of the Initial Loan Packaging Fee at the time of the application which is $250.

Payout #2 is your commission (Com. ) THESE ARE THE BIG CHECKS. Your commission is a percentage of the Success Fee that we receive from the Lender when the loan is funded. This fee can be from 3% and up of the loan amount.

Example: You will receive a commission of 30% on the points charged to the client on each loan. So, on that $1. 4 million dollar loan with 3% charged the total success fee to Real Business Loans, LLC would be $42,000 and your commission would be $12600, in addition to the up-front Initial Loan Packaging fee that you received, with little or no work on your part.

You also receive commissions when your affiliates earn commissions.

Below is an example of how having a few Affiliates can make you money even when you are not doing anything.

Schedule A

Commissions

Your Referrals

You REFER the client.

WE do all the Work.

you get paid.

Loan Amount $1,400,000

Initial Loan Packaging Fee $2,500

Your Initial Loan Packaging Fee percentage 10%

You get paid within that week $250

3% Success Fee $42,000

Your Success Fee Percentage 30%

Paid to you upon closing $12,600

Level 1 Your Affiliate Referrals

You don’t have to do anything here.

Your Affiliate Refers the client.

We Do all The Work.

you and your affiliate get paid.

Loan Amount $1,400,000

Initial Loan Packaging Fee $2,500

Your Initial Loan Packaging Fee percentage 5%

You get paid within that week $125

3% Success Fee $42,000

Your Success Fee Percentage 5%

Paid to you upon closing $2100

Level 2 Your sub-affiliates Referrals

You don’t have to do anything here either.

the Sub-Affiliate refers the client.

We Do all The Work.

you, your affiliate and Sub-Affiliate get paid.

Loan Amount $1,400,000

Initial Loan Packaging Fee $2,500

Your Initial Loan Packaging Fee percentage 5%

You get paid within that week $125

3% Success Fee $42,000

Your Success Fee Percentage 5%

Paid to you upon closing $2100


If the possibility of making all this money with no work at all on your part is okay with you then please visit us online at http://www. venturecapital. 20m. com/loan_affiliate_program. html to sign up now!

Small Business Disaster Recovery Plan

A data center stores all the programs, files, applications and other digital information that a business needs to have, so they may reasonably compete against businesses using the internet. If their files where destroyed, this would bring the companies production to a halt, possibly causing a crushing blow to its positive cash flow. This is why it’s absolutely critical to invest time and money in a reliable data center disaster recovery plan.

If you are already convinced that you must protect your data, then the next question is what exactly are we supposed to look for in a data center disaster recovery plan anyway?

It does not matter if you are a huge multinational corporation or a new business just entering your fast growth phase. Every business needs a first rate computer backup system.

Computer backup systems are a part of data center disaster recovery plans because they play the major role of safeguarding the pertinent data that keeps your business alive and restoring that data if a computer hardware failure occurs. Because of the importance of its function, selecting the right computer backup program is critical to your data center’s disaster recovery plan.

Listed below are several facts to consider during your search for the best computer backup system:

Protection: How many levels of safety does the program have? Does it have a proper administrative login procedure? Can it keep your files intact in its own “vault” so they cannot leak out, get misplaced, or become erased? Determining what the program’s security system can and cannot do is vital in making a selection. The program you want to choose must be capable of top-rate security.

Ease of Access: Even though you’re backed up files have to be secure, at the same time they should be easily accessible. This encourages frequent updates and simplifies documentation procedures. An accessible system boosts the businesses efficiency, allowing more time to work on other important issues and responsibilities.

Storage Space: Storage pace is always a big issue for online computer backups. Even a small mom and pop business can have an amazing amount of data that needs to be stored. It’s vital to know all your storage options and the limitations of your online computer backups, so you can confirm if it can, in fact, handle all or your valuable data.

Ease of Use: It is not a must-have requirement, but an easy to understand and operate program is a big plus for a number of reasons. A simple but effective program will be operated, verified, backed up, and given quality control checks more often. This minimizes the risk of file recovery disaster and increases the likelihood of a full recovery from computer crashes.

Dependability: Another important point to look for is if the program can store and restore your data completely when asked too without having to jump through any hoops? You should make sure it is easy to restore your data.

Don’t include yourself as one of the many businesses that do not pay enough attention to their data center disaster recovery plans. Neglecting to check if your computer backup system is up to restoring a file recovery disaster is going to be a painful experience when you most need it.

At all times you have to remember that depending on which computer backup system you select, it will make or break your data center disaster recovery plans. So be sure to take your time and pick wisely.

Mobile Marketing For Small Businesses

Mobile marketing has arrived for your local business. If you have not already started to notice you will very shortly! Times are drastically changing think about John, he is looking for a restaurant, he is not going to find a phone book & look a business up, he is not going to aimlessly drive around town. He is going to pull out his smart phone and do a quick search for a nearby restaurant. Using his GPS signal the smart phone will pin point his location and tell him the nearest restaurant is, tell him what others are saying about the restaurant and give him turn by turn directions to the restaurant that he finds on his search. The Local customers are looking at their phones right now for you, the question is will they find you?

In case you don’t know a smart phone is a phone that can access the internet, can check emails, & typically they have a GPS. Examples of smart phones are iPhones, Blackberry’s, Androids (or Droids), and Palms. These phones have been popular for a number of years in the business community and currently more consumers are embracing them. Over 85% of all phones shipped this year are smart phones.

Text message marketing is also a great way to grow your business and keep customers coming back. Text message marketing is quickly gaining traction as a great marketing tool. Approximately 92% of all text messages get opened and read as opposed to 2% of emails, over 80% get opened within five minutes. Imagine for a minute that you own a clothing boutique and you are typically slow on Tuesday evenings. What if you could send out a text message to your customers telling them you are having an exclusive sale for your favorite customers offering them 15% off tonight only then tell them feel free to forward the special to friends, spurring people to stop by on their way home from work and maybe meeting a friend or two at your store. Quickly turning Tuesday nights into your busiest night of the week!

The possibilities are endless, this works especially well if you own a business that has foot traffic like a restaurant, coffee shop, clothing boutique, bowling alley, theater, or car dealerships, but can also work very well for service oriented businesses too. If you have had a flat tire or a car break down on the side of the road you know how stressful that can be. Now you can take out your smart phone and do quick search for an auto repair shop that is nearest to you, click on their phone number and get your car fixed so you can get back on the road, and on with your day.

It’s not just about Google anymore it is about being found where your customers are already looking. It is very important that your business is found all over the web especially on mobile friendly areas. So are you in the places where your customers are already looking and ready to buy?

Take your message mobile today!

Marketing Companies Nyc

Postcards perform well as marketing agents. Many businesses don’t know about postcards or how they can be used to further their business prospects. Postcards are versatile when it comes customizing and print. They are also highly affordable. There are many postcard printing companies in NYC that can print for cheap. Although cheap is good, it is not always as it has the potential to compromise on quality.

Find Reputable Printing Services

When looking for a postcard printing service, look for reputation. Business printing is different to regular printing for household use or school assignments. The print itself mirrors the value of the company. If you opt for a cheap quality printing service, you jeopardize your company’s reputation. When a consumer finds a low-quality postcard among their mails, they are less likely to take a second look. Instead, if they spot one of definite quality, they are more likely to put it aside for a second look later on. A reputable postcard printing company will make use of latest printing technology that will give you the best results.

Use Colors Carefully

Color cards draw more attention. Unless your postcard contains an elegant design in black and white, opt for color prints at all times. However, avoid going overboard with snazzy colors and designs. This appears highly unprofessional, obstructing the visibility of your business message. Color postcard printing should be clean and clear. Use colors that don’t hurt the eyes. If color printing is beyond your budget, choose minimal colors. Postcards that incorporate colors cleverly are appealing. Postcards that are drenched in colors can be hideous. Look for postcard printing companies that use superior ink quality. You do not want blotches or faint ink to show on your postcards.

Samples Are Important

Asking for print samples is indispensable when selecting printing companies as it enables you to evaluate the printing quality before placing a large order. If you are happy with the sample quality, ask to print a sample of your business postcard. This will save you from spending heavily on bulk orders only to find out a flaw in them all. A sample color postcard printing allows you to discuss and rectify any error or make changes to improve its visuals. Once the sample is ready, go ahead and order in mass.

Don’t be afraid to try using postcards to expand your enterprise. If you opt for a reliable printing firm in NYC, you will be surprised by the amount of publicity your company gets simply through postcard distribution.

Use colors that don’t hurt the eyes. If color printing is beyond your budget, choose minimal colors. Postcards that incorporate colors cleverly are appealing. Postcards that are drenched in colors can be hideous. Look for postcard printing companies that use superior ink quality. Business printing is different to regular printing for household use or school assignments. The print itself mirrors the value of the company. If you opt for a cheap quality printing service, you jeopardize your company’s reputation. When a consumer finds a low-quality postcard among their mails, they are less likely to take a second look.

Simple Small Business

Do you have a new or growing business? If you do, sooner or later you will need business financing. Of course, if you are like most business owners, your first inclination might be to look for a business loan. Unfortunately, business loans can be very hard to get, take weeks to set up and don’t fit too well with most businesses. You might be better off looking for alternative business financing products.

I am going to discuss two alternative business financing products. As opposed to the traditional business loan, they are easy to obtain, can be set up in days, and they grow as your business grows.

Invoice Factoring

If your biggest business financing challenge is that you have clients who take as long as 60 days to pay their invoices, then the solution is to factor your invoices. Factoring, or invoice factoring as it is often called, accelerates your clients’ invoice payments and gets you paid in about 2 days. Factoring does not involve changing your customers’ payment habits, but rather, financing your slow paying invoices through a factoring company. With factoring, you can capitalize on your invoices and get the funds you need to meet payroll and pay suppliers.

Purchase Order Financing

If you are a reseller or wholesaler and your biggest challenge is that you cannot afford to pay your suppliers, then purchase order financing is the best tool for you. Purchase order financing provides you with the necessary funds to pay your suppliers (usually by a letter of credit). This enables you to buy the goods to fulfill your orders and make the sale.

Both purchase order financing and invoice factoring can be obtained from a factoring company (rather than a bank). Both solutions are very affordable, but they work best when the business has profit margins of 15% or more.

So, if you own a business that needs financing, be sure to look at these non-traditional business financing tools.

Start Up Business Funding

Many of you have dream big, and want to turn them into reality. Quite a few of you don’t possess the knowledge about funding process that can help you do exactly that.

What follows is some of must knows of funding for small business.

Business LoanWhich One? Normally business loans take following forms:

Long Term loans are the most common loans. They can be used as working capital funding source. You’ll repay them monthly over a term agreed with the financial institution.

Short term loans are to be repaid in one year or less in a lump sum at the end of the term, instead of monthly.

Loan against equipments is easier to get than other types of funding. The equipments bought through the funds are the direct collateral for the loan. In this case you don’t stake your entire business or your personal property, only the equipment you bought.

Credit lines are generally used for working capital funding. Instead of granting the full amount of loan, the financial institution loans you a certain amount per year.

In lending parlance getting credit card advances does not mean withdrawal of cash through credit card. Instead, it’s a proper loan based on your past history and your expected future revenue generating prospects. If your business has at least a three-year history of accepting credit cards, you can go for it.

FundingWhere From?

Your bankers should be your first stop in applying for a commercial borrowing. You and they have a history of working together. Familiarity goes a long way in pre-clearance of doubts and insecurities. Also banks offer slightly better rates for commercial loans than others.

But banks are more circumspect, and adherer of rules and guidelines regarding the borrower.

There are many other types of business lenders. The main differentiating factor is the type of loans they offer: secured or unsecured loans.

Banks usually offer unsecured ones, while independent financial organizations favor secured loans more.

These independent financial organizations are prepared to take more risks on startups and smaller businesses than banks. Often they specialize in particular industries, types of loans, or business sizes.

Essentials of loan applications

It is the first and perhaps the most important part of borrowing process. Applying for a commercial credit requires a lot of preparation. Following are some key documents you are required to prepare:

Financial statements: balance sheet, profit and loss statement, and tax returns of the company
Personal financial statements and tax returns for last three years
Cash flow estimates on the monthly basis
Comprehensive business plan
Precise loan utilization detailing
Profiles of decision making people i.e. top management

The thoroughness and accuracy of these documents are absolute musts for successful borrowing, so it pays to prepare them carefully. Have your financial documents reviewed by a qualified accountant before presenting them.

These are some of the must knows of small business funding. Rest of the facts will be appearing in my next article ‘Rest of small business funding know-how’.

Some of you must have known all or some of the facts in these articles. They can benefit from my other articles: ‘Tips to apply successfully for funding'; ‘Valuation processes’.

Furniture Business Plan

Often the traditional financing sectors like the banks decline the loan applications for the Gas Station Business because of the lack of security and the constant fluctuation in the market pertaining to the price. There are different probable environment issues based on which the banks refuses to finance in this volatile sectors. But you don’t need to worry at all!! There is another iconic alternative waiting just for you!! The Gas Station Business Financing program of the Small Business Financing services is exclusively designed for the merchants who are facing these issues while applying for the traditional small business loans.

Besides the Gas Station Business Financing, there are different other Small Business Financing services like the Optical Store Business Financing, Pet Store and Kennel Business Financing, Real Estate Business Financing, Restaurant Financing and Loans, Retail Store Business Financing, Seasonal Business Financing, Shoe Store Business Financing, Automotive Business Financing, Bar and Nightclub Financing, Cellular Store Financing, Dentistry Business Financing, Dry Cleaning Business Financing, Franchise Business Financing, Furniture Business Financing, Home Based Business Financing, Home Improvement Business Financing, Beauty Salons and Spas Financing, Floral Shop Business Financing, Hotel and Motel Business Financing, Internet Business Financing, Taxi and Limousine Business Financing, Wine, Liquor or Party Store Business Financing and so on.

The different aspects of the Gas Station Business Financing and how can we make a comparative study with the traditional small business loans:

The merchants can get up to $250,000 as Gas Station Business Financing facilities. The Gas Station Owners can utilize the finance according to their wish. There are hell lots of flexibilities in using the money according to the business requirement. There is work of renovations, increase of payrolls, buying of all new equipments are the different purposes for which the Gas Station Business Financing is needed for the merchants.

Loans are also offered to those Gas Station Businesses which are running out of business for quite a long time. The merchant who are running with bad credits also gets approval of the cash advance services.

The Traditional business loans are channelized under different formalities while the Gas Station Business Financing requires no such formalities. Hence the Small business financing services are much more hassling free than the traditional business loans.

The Gas Station Business Financing offers loan to those merchants with bad credit. Banks often claim these sectors as the high risk business and decline the loan application from these business sectors. But the online cash advance scheme of the Gas Station Business Financing is one of a kind and offers loan to these volatile sectors too.

The whole process is online and is done under a professional touch. With the expertise of the small business financing they are attracting thousands of American merchants with finances at the earliest convenience.

No personal guarantee and no collateral are required while the merchants are applying for the Gas Station Business Financing services.

The cash consent is 99% and the cash is available within 72 hours of the loan approval. Besides that there is no hidden cost and no fixed payments are needed.

Planning A Small Business

Starting a business is a process that requires much planning. A business plan should be made mapping the future business.

Starting a business includes many steps that will be explained. The first step in a business plan is deciding the nature of the business. A detailed description of products and services is the first part of a business plan. For a fishing shop, for instance, the products would be all the fishing rods and accessories.

In addition to a detailed description of products, a detailed description of services must also be made. The owners must decide where or not there will be a service department with the fishing shop.

The next part in figuring the nature of the business is to decide the estimated risk. The risk of the business is based on the analysis of the industry. To analyze the industry one should take several considerations into thought. For example, how much demand for the business there will be in the area, as well as, how other businesses of the same nature have done in the area.

Size and location of the business are also required to figure the nature of the business. The size of the business can be based on the capital available, the demand in the location, as well as any other factor that might affect the business. Location is based on many of the same factors.

The second step of a business plan is to plan the goals and objectives of the business. This step requires thinking about what the short-term and long-term goals will be. In addition to the short-term and long-term goals, the owners must express the expected results in sales volume and profits.

These goals and objectives should be based on the amount of capital invested and the amount of the loan. The business must plan to make a profit, however, the profit does not have to be immediate. It may take a little while for the business to become established in order to make a profit.

The long-term plan of the business might take all this into account. A marketing plan is the next step of a business plan. A marketing plan takes into account customers and their demand for the fishing rods, accessories, and services. A marketing plan should also include prices for the products and services, and a comparison of products and services with competitors in the area.

The prices should be figured based on the supply and demand theory. If there is a large demand and no other competitors in the area your prices can be much higher than if there is little demand for you products or services, or if there are several other competitors in the area.

The business plan is essential in the formation of any business. In addition to the business plan a list financial institutions which to apply for a loan should be assembled, as well as, hiring a lawyer to help in the formation of the business. Proper planning might take a long time but in the end it will make the process of starting a business much easier.

Creative Business Finance

Franchising Canada. Whether it’s an ‘ IT ‘ franchise in the world of technology, or a restaurant in the quick service / full service/ casual service industry everyone it seems wants to get on board. If they know they have the ability to finance the business…so let’s examine some creative ways in which to complete the financing of the entrepreneurial dream.

It’s no secret to the potential franchisee that it’s all about cash – a combination of your own and borrowed funds. What are some of the methods that clients use to creatively, yet sensibly finance the franchise dream in Canada.

Every business in Canada, new or existing, has two components to the capital structure. Debt… and equity. Equity is of course your portion; debt is of course that contributed by your lender or lenders. And remember, you have the upside potential in equity… your lender has only the interest income, and the hope and belief that they will be paid in full.

That’s one of the reasons that many franchisee ‘ newbie’s’ in fact get overly enamored with the financial potential of their business when pitching a franchise finance scenario. We think they would do better often to tone it down a bit and focus more on the lenders ability to feel comfortable that cash flow will cover the loan or loan payments.

In talking to clients over a long period of time we’ve been intrigued by the manner in which customers come up with their portion of the funds, the equity. Sometimes it’s savings, other times they are leaving corporate life and utilizing their severance from the previous employer.

In other cases there is ‘ friends and family ‘ – we see that a lot. In order to be truly creative in using funds from friends and family (it has not escaped us that they are in fact your ‘ angel investors;) you need to be sure these funds arent documented as formal debt – otherwise your banker or lender will have to show this on your personal balance sheet as debt, which will affect some of your borrowing ratios.
Supplementary to this strategy is getting a minority operating or silent partner in the business. Giving up a small amount of equity, say 5-10% might induce a family member or third party to help you out.

Typically the collapsing of registered savings plans is viewed by most as not, we repeat, not the best way to finance a franchise. Two reasons here actually, one is the huge tax bite involved in such a move; the other is simply that you have put your savings at risk, which clearly is not optimal.

Other creative ways to compliment franchise financing in Canada are to consider supplementary forms of financing such as equipment lessors for certain assets, or merchant receivable firms for ongoing cash flow. They are complimentary to your overall finance strategy.

Is there one way to really move along quickly in franchise finance in Canada? How about a co- signer, and boy do we have one for you. It’s the government of Canada, via Industry Canada’s BIL program, with the government in effect guaranteeing a huge portion of your loan in the franchising Canada environment. Don’t overlook that one!

So, a service franchise, such as in the IT (information technology) industry, or a restaurant… it’s your call when it comes to selecting and finalizing the franchise dream. Just make sure you have considered all options, traditional and alternative when it comes to ‘ creative ‘.

Speak to a trusted, credible and experienced Canadian business financing advisor for franchise finance advice that gets you to the goal line of success.

Need Business Loan

Before deciding which bank to consider for your business loan remember that what you are looking for is not just a one time loan. You want to establish yourself with on particular bank so that you can go where with all your needs. Due to this you may find that it is no always merely the business loan interest rate that you need to look at but everything the bank can offer you. A business needs a reliable bank that can help not just with the immediate requirements but with the long term. That includes business expansion, building up inventory or when an unexpected cash shortage arises.

What do you do if the bank you go to offers you an excellent business loan interest rate but only a portion of the money you need? Do you take what you can get and find some other means to get the rest? No, you walk out and keep looking. You have carefully identified the needs you have for your company and taking any less could jeopardize the venture you are working on. It is essential that you keep looking until you find a bank that feels comfortable enough with you and your company to give you all the money you require even if the interest rate for your business loan is a little higher. The rate may reflect the bank’s concerns about dealing with a new client or perhaps with a small business.

But, once this loan is paid off and you have shown the bank that you are a good risk the next time you need money it will be very different. You may find that the bank offers a different business loan interest rate than the last time. Your financial statements should be stronger since the venture you tried previously worked so successfully. As well, having proven your company is a good credit risk you are now in a position to ask the bank for bigger loans with better rates if there are other things you want to do to build your company’s success.

It is not unusual for a new business to have to start out with a less than stellar interest rate on loans. By keeping your cool, making your payments on time and perhaps even making an extra one now and then, you will be creating a situation where in years to come you will be able to command a much better interest rate, rather than having to settle for what you can get.

Business Finance Questions

In a perfect world, ( know it’s.. not! .. but ..) your ability to successfully structure business financing is critical to your firms survival. Let’s ensure you’ve got a solid handle on leasing financing when you’re entertaining equipment financing as a strategy for success. And in the process we’ll ensure you’ve got a solid handle on asset lenders in Canada.

The long term goal is to make equipment financing make sense. That of course means ensuring you have a reasonable level of pricing on your transactions, and, most importantly, that the proposition put forth by asset lenders in Canada makes sense… for your firm! So it’s therefore about asking the right questions and following up on those to make good business financing decisions.

Common sense dictates you want to talk to asset lenders based upon your final choice of an asset that will add value… and profit to your business. You will find yourself going through a three pronged stage of negotiations and fact finding (for you and the lessor)… on then to approval and commitments by both parties, and finally documentation and funding. Seems simple right, so where then do things go wrong?

Your firm makes a stronger case for leasing finance when the asset you have chosen allows you to grow your business and generate additional cash flow. But at the same time you should also be thinking of the term of the transaction, i.e. how long will this asset last. In a perfect world you want to try and best match the useful life of the asset to the term of the lease. In initial discussions with asset lenders ensure they understand the assets value in your overall growth and future plans… that’s important.

Choosing the asset is half the battle, ensuring you can pay for it is of course the other half. That’s why some basic cash flow analysis and payment budgeting should be critical at this point in your finance decision. A simple financial calculator can calculate estimated lease payments in seconds. Although we’re still at the beginning of the transaction give careful thought to what will happen to the asset at the end of the lease – for example, do you want to use it, return it, re finance it for an extended period of time, etc…

We’ve spoken recently on ‘ the box ‘ in leasing. What’s the box? asks our clients. It’s the proverbial credit box – that cage that lessors try and put you in to ensure you perfect fit into the box modules – deal size, asset type, your credit quality, pricing re interest rate they will charge… etc.

We’ve seen clients spend countless hours, days, weeks, even months! muddling their way through the boxes. This where some common sense information on what type of equipment financing company most suits your firm is worth a lot .. in terms of time and money. Your ability to present the asset, your credit quality, and your long term viability when it comes to making payments is critical at this point.

Experts. You cannot be expected of course to know the substantial and fragmented nature of leasing financing in Canada. Who are the asset lenders, which one suits your perfectly, and are you working with the right firm if you have had financial challenges in the past that will be convincingly solved in the future.

We continue to believe the common sense approach to working with an expert in any area of your business makes sense .Speak to a trusted, credible and experienced Canadian business financing advisor to ensure you have the questions, and the right answers! in place for Canadian asset lenders. Allow the power of leasing finance to help you over achieve on your business finance goals.