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Free Watch Repair Business Plan
If you are starting a Watch Repair business then it is sensible for you to put in writing a Watch Repair business plan. If you require finance for your company this will help you with it and even if you are lucky to have enough money to set up your own business then a business plan will support you in your business strategy. This will increase the odds of your business being a triumph, which cannot be a bad thing.
Your plan ought to involve the following...
Watch Repair Executive Summary
Your Watch Repair executive summary ought to be written at the end (even though it should be found first in your plan) subsequent to you having done all the ground work in preparation of your business plan - it is after all meant to be a digest of your business. This is the page that will grab the attention of the reader and make them realize what your Watch Repair business is about. Generally speaking it should present the person who reads it 3 years highlights of your business or longer if you carry out a more long term business plan - i.e. when the shareholder(s) are likely to start seeing some profit on their investment. The Watch Repair executive summary should declare the key leading roles who are available to help run the business and generate the income for the investors and if any extra management will be needed in the process. Click here for more free advice on how to write your executive summary.
Watch Repair Objectives
As the executive summary regularly includes the breakdown of the first three years - your objectives should in addition be set out for your first three years of operation - this could be a handful or may well be a good deal more complete - it's wholly up to you, however having unrealistic goals to complete for your Watch Repair business in an unrealistic timeframe will put likely investors off considerably than them being impressed at your arrogant objectives.Read more about business objectives.
Watch Repair Mission
Some people see objectives and mission as the same thing but they aren't - objectives are there for you to meet your mission. The final mission of any business should be to get bought out! If you can build your Watch Repair business up to sell it whilst retaining a quantity of shares then you will have achieved victory. To reach your last mission you will most likely need some smaller missions - these may be to reach a certain income, to attain a certain quantity of clients, to trade a certain number of units of a product or service and your objectives are there to meet this mission.
Check out some of these example mission statements before you have a go at writing your own mission statement.
Keys to Success
You ought to advise people how and why your Watch Repair business is going to be a success - if you cannot think of anything to put in writing here then you are doomed. Even if your response is in simple terms that you are going to put more effort in than the next guy - then at least that is something...but you will need to back it up with some evidence especially if you are looking for funding in your Watch Repair business.
Company Summary
Here you ought to write down a simple construction of your business over the next 3 years unless you have a long term plan.
Company Ownership
Simply note down who is going to own the Watch Repair business and allocation of share ownership and voting rights for and allocation of share ownership and voting rights for those shares - it's reasonably regular for somebody to own part of a business but have no say in how that business is run. You must declare if the business is a limited company, private, public or if you are a one man band.
Not sure which business structure to go for?
Location(s) and facilities
Where is your Watch Repair business going to be trading from and why are you going to be trading from this position - you may perhaps not be able to give a pinpoint address at this young stage but you need to narrow it down as much as you can, as clearly this will have a significant impact on your company. It is usually easy to get premises for any Watch Repair business specially in this climate with so many businesses going out of business, but getting the appropriate business premises for the right money is a different prospect completely.
Read more about business premises.
Start-up Summary for your Business
Before you start trading it's a good idea to have a business bank account and you are also going to have to choose a new name for your Watch Repair Business.
Before you can push any products or services you need to write down accurately all of the things you are going to need and if you are going to need any money in order to pay for all of these items. You may well require to alter your start-up summary depending on your financial condition - so you may well prefer specific Watch Repair equipment nevertheless not be able to come up with the money for it until you have sold several units of product / service.
Watch Repair Start-Up Costs
This is a basic record of things you need to buy or stuff you can bring into the company if you previously be in possession of them before your Watch Repair business can start working. If you don't have adequate capital you ought to also incorporate who is going to offer this investment to get your Watch Repair business going.
Visit this page for more typical start up costs.
Watch Repair Investment
If you don't have adequate capital you should incorporate the whole investment you are going to require and what's more include the breakdown of the parties that are going to finance the investment. Incorporate the equity being given away to fund this or loan agreements in order to finance the contract. Will you require a small business bank loan? If you cannot get a bank loan don't worry there are alternative methods for funding your Watch Repair Business.
Watch Repair Business Plan Page 2
Useful Watch Repair Resources
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