Starting a woodworking business can be a highly profitable enterprise with a lot of flexibility however it is important that you plan it carefully. Having a woodworking business plan will allow you to borrow funds from investors or the bank in order to get you started. In this guide you will learn what you need to have in your woodworking business plan.
A business plan should be detailed. In listing your products and services for example, you should not really stop by just enumerating them. You also should write down the descriptions and scope of your products and services, touch base on production and identify means on how you can market your "brain - child" to your targeted niche.
Operations plan- This section will include details of execution of the day to day operations of your business, location of your business and how it will benefit your business, HR policies of the company and the production plan if you are offering products.
An exit strategy- A business plan becomes perfect only when you write a good exit strategy for the investor. It is important to note that investors generally have a 3 year horizon within which they want to exit. The author is the partner at IntelligentQ. IntelligentQ specializes in Integrated Marketing Communications: Business Content, Sports Content, Business Plans.