Self-Employment Steps for Vocational Rehabilitation Counselors: Helping a Consumer Start a Business

Chapter 6:

Business Plan Checklists

Business Plan Checklists are a useful tool for evaluating the business plan and for informing the consumer how you will evaluate the completeness and contents of the plan. We recommend providing the consumer a copy of these checklists when he or she begins developing the business plan. They should become part of the consumer's file.

Figure 13: Business Plan Checklists

Overall Content and Style Checklist
Item	Yes	No
Language is fluent and commonplace
Industry jargon is explained adequately
Plan avoids repetition and includes only information relevant to the target audience
Plan targets the reader
The plan is in an active voice
Uses words like “will” instead of “may”

Business Description Checklist
Item	Needed	Included
List of owners
Personal financing guarantees
Current industry trends
Supply of and demand for product or service
Potential owner’s(s’) background information (including management/industry experience)
Business advisor’s(s’) information

Target Market/Marketing Checklist
Item	Needed	Included
Business owner’s customer philosophy
Business’ image described
Market’s(s’) unsatisfied need for product or service
Geographic description of the market
History and projected trends (e.g., growth)
Demographics of potential customers
Rationale for business’s location
Competitor’s(s’) weaknesses and strengths
Compares proposed business’s product/service with competitor’s(s’)
Methods for gaining market share
Message communicated to potential customers about the product or service
Discusses all promotional activities
Rationale for selecting proposed advertising media, including estimated cost and effectiveness
Methods for assessing customer satisfaction

Operations Plan Checklist
Item	Needed	Included
Materials description and supplier relationships
Business location and reason for its selection
Operation costs
Addresses need for and includes if appropriate necessary licenses, permits and zoning, insurance, tax ID, and ownership forms
Capital equipment list, description, and costs
Describes production methods including labor projections, safety precautions and environmental safeguards
Describes the management format and organizational structure
Describes staffing requirements, staff qualifications, and wage rates
Lists any services, such as bookkeeping or cleaning, that will be outsourced

Financial Plan Checklist
Item	Yes	No
Projected Income Statement for 2-3 Years
Projected Balance Sheet for 2-3 Years
Projected Cash Flow Statement for 2-3 Years
Break-Even Analysis
Personal Financial Statements
Credit Report
Need for and Sources of Cash Statement
Equipment List
Supporting Documents List:

Break Even Analysis Checklist
Item	Yes	No
Does the market and customer research inspire confidence that customers who will buy the product exist?
Does the research inspire confidence that customers will pay the product’s price?
Is the product’s price justified?
Does the production schedule and marketing plan support the product’s price?
Does the description of current and future employees appear adequate to meet current and projected production goals?
Does the description of current and future employees appear to support the product’s price?
Are supporting documents included

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