A business plan is the utmost requirement for securing your financial needs. There is a pattern for writing a good business plan which one should follow to get success. The major components of a business plan are as follows:
Industry overview-This section will include description about which industry you are targeting, its growth and size, competitive analysis, business strategy and key players.
Financial Plan- This is the most important part of the business plan where you need to show the three year projection of the projected financial statements, including income statements, pro-forma balance sheets, and monthly cash flow and annual cash flow statements which will help in forecasting your revenues and expenses.
Marketing Plan : This is where you include how you are going to get your customers. This is one of the most important parts of your woodworking business plan because without customers you don't have a business. For example if you are going to have a mail order side to the business you might include direct mail as a marketing method. If you are going to advertise in home and garden magazines this could be another marketing method. List these in bullet point form so they are easy to understand.
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