Writing a Winning Business Acquisition Plan

Navigating the complex world of business acquisitions, imagine the process as meticulously piecing together a puzzle where each piece symbolizes a critical component of a broader, strategic vision. Central to this vision is the crafting of a business plan that not only meets but exceeds the expectations set forth by financiers and stakeholders alike. 

This is where the expertise of Rapid Business Plans shines, offering guidance and clarity in the often tumultuous journey of business acquisitions.

Why Does a Tailored Plan Matter?

The query at hand isn't just about the importance of a business plan but rather why a tailored, expertly crafted plan is crucial. In the arena of business acquisitions, the stakes are high, and the margin for error is slim. A generic plan falls short of capturing the unique dynamics and potential of your business venture. 

Rapid Business Plans understands that each business has its unique fingerprint, requiring a bespoke approach to planning that aligns with specific goals, market conditions, and financial intricacies.

• Thorough Due Diligence: A cornerstone of our methodology involves conducting in-depth due diligence. This rigorous process ensures a comprehensive understanding of the financial, legal, operational, and market facets of the target acquisition. It's not merely about evaluation but about uncovering opportunities for value creation and synergy.

• Clear Integration Plan: Recognizing the complexity of merging two entities, we prioritize developing a clear integration plan. This strategy outlines the path to seamlessly unite processes, cultures, and technologies, ensuring maximum efficiency and value from the acquisition.

The Expertise Advantage

At Rapid Business Plans, the depth of expertise offered is not just a service but a strategic partnership. The journey through the acquisition process is navigated with seasoned professionals who bring a wealth of knowledge in finance, law, market analysis, and operational optimization. This partnership aims to:

• Tailor Each Plan: Aligning every aspect of the business plan with the nuanced requirements of lenders and stakeholders.

• Strategic Insight: Providing strategic insights that preempt potential challenges and leverage opportunities for growth and efficiency.

Staying Ahead of the Curve

In an ever-evolving business landscape, staying informed and adaptable is key. Rapid Business Plans positions its clients at the forefront of industry and financial trends, ensuring that each business plan is not only relevant but proactive. The commitment to staying ahead of the curve means that your acquisition strategy is built on a foundation of forward-thinking and resilience.

Investing in Your Success

Viewing expert plan writing as an investment rather than an expense is essential. Rapid Business Plans embodies this perspective, treating each client's success as a reflection of our commitment to excellence. The journey toward successful business acquisition financing is intricate and demanding. With Rapid Business Plans, you gain more than just a service provider; you gain a partner dedicated to realizing your business aspirations.

Our approach to maximizing success in business acquisitions through expert plan writing is rooted in a deep understanding of the complexities and opportunities presented by each venture. It's about harnessing the power of strategic planning, due diligence, and professional guidance to turn entrepreneurial dreams into tangible successes. 

Let Rapid Business Plans be the architect of your next successful business acquisition, guiding you through every step of this transformative journey.

Transform your business strategy from vision to reality.

The Advantage of Market Research for Your Business Plan

Forget wading blindfolded into the business world. In-depth industry research is your searchlight, illuminating the path to success in your business plan. Just like a comprehensive map reveals the lay of the land, market analysis provides a panoramic view of your competitive landscape. It's about gaining an edge over rivals, spotting opportunities for growth, and turning risks into actionable plans. 

Let's dive into how thorough industry research equips businesses with a strategic advantage, transforming possibilities into peak performance.

Why Is Comprehensive Market Analysis Non-Negotiable?

Imagine navigating a ship in uncharted waters without a map or compass. That's the equivalent of steering a business without the insights gained from thorough market analysis. But why is this research so critical, especially in the context of business acquisitions?

• Understanding Market Dynamics: Market analysis offers a snapshot of current trends, customer behaviors, and potential shifts in the market. This knowledge is pivotal in forecasting future market conditions and positioning your business to capitalize on emerging opportunities.

• Competitive Landscape Analysis: Who are your main competitors? What are their strengths and weaknesses? Industry research uncovers these facets, allowing your business to develop strategies that leverage competitive advantages or fill market gaps.

• Risk Management: By identifying potential threats within the industry, companies can devise strategies to mitigate these risks. Whether it's regulatory changes, market saturation, or technological advancements, being prepared is key.

Actionable Insights That Make a Difference

The strategic advantage of market research lies in the actionable insights it provides. These nuggets of information are more than just data; they're the building blocks of strategic decision-making. For instance:

• Identifying Niche Markets: Detailed industry analysis can reveal underserved or niche markets ripe for innovation. By targeting these areas, businesses can create differentiated value propositions that speak directly to the needs of these segments.

• Optimizing Product Offerings: Understanding customer preferences and pain points allows businesses to tailor their products or services, enhancing customer satisfaction and loyalty.

• Strategic Pricing: Insight into competitors’ pricing strategies and customer price sensitivity supports informed pricing decisions, balancing profitability with market competitiveness.

The Rapid Business Plans Edge

At Rapid Business Plans, we recognize the transformative impact of in-depth industry research on your business plan and acquisition strategy. Our approach integrates comprehensive market analysis to ensure your business not only navigates the current landscape but also anticipates future trends and opportunities. Here’s a bit of insight into our process:

• Identify Your Competitors: With the assistance of our expert team, we help you map out the competitive landscape. Whether it's a direct competitor or alternative solutions your customers might consider, understanding who you're up against is the first step.

• Clarify Your Business Goals: Growth, innovation, service enhancement, or strategic shifts—whatever your goals, we align our research to uncover insights that propel you towards these objectives.

• Define Research Needs and Goals: Whether seeking a new perspective on your market position or contemplating a significant strategic pivot, our research is tailored to your specific needs and ambitions.

Integrating these elements into the strategy development process, Rapid Business Plans goes beyond traditional market analysis. We offer:

• Expert Analysis and Insight Generation: Our team specializes in converting complex market data into clear, actionable insights. By understanding industry trends, consumer behavior, and competitive dynamics, we arm your business with the knowledge to make strategic decisions.

• Customized Strategic Planning: Leveraging these insights, we craft bespoke business plans and strategies that address the unique challenges and opportunities within your target market. Our plans are not just documents; they are roadmaps to success.

• Future-focused Innovation: In anticipation of market trends and shifts, we help position your business for sustainable growth and success, ensuring you're not just keeping up but staying ahead.

In the journey towards business growth and acquisition success, the strategic advantage provided by in-depth market research is undeniable. With Rapid Business Plans, you gain more than insights; you gain a partner committed to your strategic success.

Let us transform data into strategy, and strategy into success.

Why Personalized Business Plans are Key to SBA Loan Approval

To secure an SBA loan, a generic, cookie-cutter business plan simply won't cut it. Lenders are looking for a clear, compelling vision for how entrepreneurs will use the loan funds to propel their growth. 

This is where the power of a personalized business plan with Rapid Business Plans comes into play.

A customized plan is more than just a document; it's a strategic blueprint that showcases your industry expertise, target market insights, and competitive edge. To lenders, a personalized plan is a window into your business acumen and commitment. It demonstrates that you've done your homework, thought through your strategy from every angle, and have a realistic, actionable plan for using their funds to achieve your growth objectives. 
In a sea of generic applications, a well-crafted, customized plan is a catalyst that sets you apart and proves you're a savvy, serious business owner worthy of their investment.

Personalized business plans are crucial for securing SBA loan approval because they demonstrate to lenders that you have thoroughly thought through your business strategy, understand your market and competitive landscape, and have a clear plan for using the loan funds effectively to grow your business. 

The Impact of Customization on Lender Decisions:

When it comes to SBA loan approval, a personalized business plan can make a significant impact on lender decisions. Here's why:

1. Demonstrates understanding: A customized plan shows you're not just another applicant. You know your industry, target market, and the competition inside-out. This deep understanding screams "viability" to lenders, boosting their confidence in your success.

2. Provides clarity on loan usage: A personalized plan clearly outlines how you intend to use the loan. It spells everything out. This clarity helps lenders assess the feasibility of your plans and determine whether the loan amount requested is justified.

3. Offers realistic financial projections: A personalized plan tailors financial projections to your unique business. This gives lenders a clear picture of your expected revenue, expenses, and cash flow, showing them your ability to repay the loan.

4. Demonstrates commitment: The effort you pour into a personalized plan speaks volumes. It tells lenders you're serious, not some fly-by-night operation. This dedication builds their trust in your ability to make the loan a win-win.

The Benefit of Personalized Plans:

Beyond increasing your chances of loan approval, a personalized business plan offers several key advantages:

1. Aligns with your unique goals: Generic plans are one-size-fits-all. A customized plan? It's built around your unique goals, creating a roadmap that propels your specific vision for growth.

2. Identifies specific opportunities and risks: Generic plans skim the surface. A personalized plan pinpoints specific opportunities in your market and potential risks. This targeted insight gives you an edge in crafting your winning strategy.

3. Serves as an operational guide: Tailored to your unique business model, a customized plan becomes your guide for day-to-day decision making and keeps your team focused on your specific goals. 

4. Facilitates stakeholder buy-in: A compelling, personalized plan can help you secure buy-in from key stakeholders such as partners, investors, and employees.

While a generic business plan may check the box for an SBA loan application, a personalized plan can be the key to approval and long-term business success. 

By taking the time to create a plan that reflects your unique business, you not only increase your chances of securing funding but also lay the groundwork for strategic, focused growth.

Elevate Your SBA Application with Rapid Business Plans

Rapid Business Plans specializes in crafting business strategies that elevate your loan application. Our approach is grounded in highlighting the unique aspects of your business, presenting a clear, strategic use of loan funds, and demonstrating the financial prudence of your venture. 

We go beyond documentation; we offer a partnership that brings your vision to life through meticulous planning and strategic insight. A standard business plan might tick off a requirement, but a personalized plan crafted with our insight will transform your loan application in a compelling case for your business’s future. 
Secure your funding with a winning strategy

Navigating SBA Financing: A Step-by-Step Guide to Business Plan Approval

Securing financing through the Small Business Administration (SBA) can be a golden opportunity for businesses looking to grow, expand, or survive challenging times. The SBA's various loan programs offer favorable terms to small businesses, including lower down payments, longer repayment terms, and lower interest rates compared to other financing options. However, the path to securing an SBA loan involves a detailed application process, central to which is the submission of a comprehensive business plan. 

This guide will walk you through the steps from the initial intake questionnaire to securing financing, offering insights and tips for a smooth approval process with lenders.

Step 1: The Intake Questionnaire

The journey to SBA financing begins with an intake questionnaire. This initial step involves providing the lender with basic information about your business, including your business name, structure, industry, the purpose of the loan, and financial statements. It's essential to be as accurate and detailed as possible during this stage, as this information lays the groundwork for your loan application.

Tip: Ensure all your financial documents are accurate and up-to-date. Discrepancies here could delay the process or impact your eligibility.

Step 2: Crafting Your Business Plan

A well-crafted business plan is crucial for SBA loan approval. Your business plan should detail your business's mission, structure, leadership team, market analysis, product or service offering, marketing and sales strategies, and financial projections. The SBA and your lender will use this document to assess your business's viability and your ability to repay the loan.

Tip: Tailor your business plan to highlight how the loan will support your business goals and demonstrate your business's potential for growth and stability.

Step 3: Loan Application Package

With your business plan in hand, the next step is to compile your loan application package. This package includes the completed loan application form, your business plan, financial statements, tax returns, and any other documents required by the SBA or your lender. Each piece of documentation should reinforce the strength of your application and your business's financial health.

Tip: Double-check the SBA's loan application checklist to ensure you haven't missed any required documents. Missing or incomplete information can lead to unnecessary delays.

Step 4: Loan Processing and Underwriting

Once submitted, your loan application enters the processing and underwriting stage. During this phase, the lender reviews your application, performs a credit check, and assesses your business's financial health and the viability of your business plan. This step may involve additional questions or requests for further documentation.

Tip: Be responsive to any requests from the lender. Prompt communication can help keep the process moving smoothly.

Step 5: Loan Approval and Closing

If your application is successful, you'll receive a loan approval and an offer letter detailing the loan terms. Review these terms carefully. Once you accept, you'll move to the closing phase, where you'll sign the loan agreement and any other necessary documents. After closing, the loan funds will be disbursed, and you can begin putting them to use according to your business plan.

Tips for a Smooth Approval Process:

• Be Prepared: Before applying, review the SBA's loan requirements to ensure your business qualifies.

• Detail Your Use of Funds: Clearly outline how you intend to use the loan funds in your business plan. Lenders want to see that the funds will be used for growth-oriented or stabilizing investments.

• Maintain Good Credit: Both your personal and business credit scores can affect your loan eligibility. Strive to maintain a good credit history.

• Seek Guidance: Consider consulting with a financial advisor or an SBA-approved lender to review your application and business plan before submission. Their insights can be invaluable in strengthening your application.
  

Navigating the SBA financing process may seem daunting, but it doesn't have to be a solo journey. With Rapid Business Plans, you gain an ally dedicated to ensuring your business plan not only meets but exceeds the expectations of lenders. Our expertise in creating detailed, compelling business plans can significantly streamline your path to approval. 

From the initial intake questionnaire to the final submission of your loan application package, we stand by you, offering guidance and strategic insights that enhance your application's strength.

Remember, a well-crafted business plan is more than just a requirement for your loan application; it's a blueprint for your business's future success. By partnering with Rapid Business Plans, you're not just preparing to secure an SBA loan; you're setting the stage for sustainable growth and long-term success. 

Streamline Your Business Plan

Maximizing Your SBA Loan Approval Odds: Essential Tips for Small Business Buyers

As a small business owner, you know that the path to success is filled with both victories and challenges. One of the most significant obstacles many entrepreneurs face is obtaining the necessary capital to thrive. 

This is where SBA loans come into play, offering a ray of hope with their attractive terms and government support. However, navigating the application process and increasing your chances of approval can be daunting. But how do you navigate the application process and increase your chances of getting that coveted "approved" stamp?

Tips to Maximize Your Approval Odds

While SBA loans are a fantastic option, approval isn't guaranteed. Here are some essential tips to strengthen your application:

• Know your numbers: Before diving in, be sure you understand your business's financial health inside and out. Gather your financial statements, tax returns, and projections to demonstrate a strong track record and future potential.
  

• Credit check reality:  SBA loans typically require a good personal credit score (often above 670) and a healthy business credit history. If your score needs a boost, focus on responsible credit card use and timely payments.
  

• Craft a compelling business plan: This is your roadmap to success.  A well-written plan should showcase your business concept, market analysis, competitive edge, and financial projections. SBA offers resources to help you craft a winning plan.
  

• Be clear on loan purpose:  SBA loans have various purposes, from starting a business to expanding operations. Clearly outline how you'll use the loan funds and how it will contribute to your growth strategy.
  

• Partner with the right lender:  Not all lenders specialize in SBA loans.  Do your research to find a lender with experience in your industry and familiarity with SBA programs.
  

• Get your ducks in a row: The application process can be thorough. Be prepared to submit all required documentation promptly, including tax returns, business licenses, and personal guarantees.

By following these steps, you'll be well on your way to securing an SBA loan and propelling your small business forward.

Essential Tips for Small Business Buyers

If you're considering purchasing an existing business, SBA loans can be a valuable tool for financing this venture as well. In addition to the tips mentioned above, here are a few more points to keep in mind:

1. Evaluate the business thoroughly:  Conduct due diligence to understand the business's financial health, customer base, and competitive landscape. Identify any potential risks or challenges.

2. Negotiate effectively:  Don't be afraid to negotiate the purchase price and loan terms to ensure a favorable deal for you.

3. Seek professional guidance:  Consider consulting with a business broker or attorney to navigate the buying process and ensure all legal aspects are addressed.

Craft a Winning Business Plan with Rapid Business Plans

Now that you're armed with the knowledge to secure funding, you might be wondering how to take your business plan to the next level. This is where Rapid Business Plans comes in.

Rapid Business Plans offers a comprehensive suite of resources to help you craft a professional and impactful business plan.  Whether you're seeking an SBA loan, attracting investors, or simply charting your course for growth, a well-structured plan is essential. You’ll have access to expert guidance and tools to help you craft a compelling document that showcases your vision and sets your business up for success.

Let Rapid Business Plans be your partner in crafting a winning plan that showcases your vision and propels your business towards success. 

Start Crafting Your Plan!

How Rapid Business Plans Revolutionizes Planning for SMBs

For many small and medium-sized businesses (SMBs), the traditional business plan has felt like a cumbersome brick, heavy with formalities and time-consuming to create. This often leads to procrastination, outdated plans, or worse, no plan at all. 

But what if there was a way to revolutionize business planning for SMBs, making it rapid, efficient, and accessible? Enter Rapid Business Plans

Our streamlined business plans are versions of their traditional counterparts, focusing on the core elements crucial for success without getting bogged down in unnecessary details. They leverage technology and user-friendly formats to create dynamic, adaptable plans that can keep pace with the ever-changing business landscape. 

Here's how this revolution is empowering SMBs:

1. Speed and Efficiency: Traditional plans can take weeks, even months, to complete. Rapid Business Plans, however, can be created within days. This frees up valuable time for entrepreneurs to focus on what they do best: running their business.

2. Accessibility and Affordability: Gone are the days of expensive consultants or bulky software. We make professional-quality planning accessible to even the smallest businesses with limited resources.

3. Actionable and Adaptable: Unlike static documents, our plans are designed to be living, breathing documents. They are easy to update, allowing you to adjust your strategy as your business evolves. This is crucial for navigating the dynamic world of small to medium businesses, where adaptability is key to survival.

4. Collaborative and Interactive: Many rapid planning platforms offer collaborative features, allowing you to involve your team in the planning process. This fosters shared ownership, and a deeper understanding of the business goals.

5. Data-Driven and Insightful: Rapid Business Plans often integrate with existing business tools and data sources, pulling in real-time information to inform your strategy. Allowing you to make data-driven decisions and base your plan on concrete evidence rather than just intuition.

The Impact on SMBs:

From faster growth to better adaptability, Rapid Business Plans are unlocking a wave of benefits for SMBs across industries. Here’s how:

• Increased Planning Adoption: By removing the barriers of time, cost, and complexity, we encourage more businesses to create and maintain a plan, leading to better decision-making and improved performance.

• Enhanced Agility: With the ability to quickly adapt to changing market conditions, businesses can seize new opportunities and navigate challenges more effectively.

• Improved Communication and Alignment: Collaborative planning fosters better communication and alignment within the team, leading to a more cohesive and focused organization.

• Increased Access to Capital: A well-crafted business plan can be a powerful tool for securing funding from investors or lenders, demonstrating your business's viability and potential.

Ready to embrace the results?

If you're an SMB owner or entrepreneur who has been hesitant to create a business plan, it's time to reconsider. 

Rapid Business Plans offer a modern, efficient, and accessible way to chart your course towards success. With the right tools and mindset, you can ditch the brick and embrace the click, revolutionizing your planning process and propelling your business forward.

Remember, the key to success lies not in the size of your plan, but in its effectiveness and adaptability. 

So, what are you waiting for? Create a business plan today!

The Key Elements of a Business Plan for an SBA Loan

Are you thinking of applying for an SBA loan? Before you do, make sure you have all the key elements of a business plan in order. It's not just about the numbers - it's also about the story behind your business and how it will succeed. Here are some tips to help make sure your business plan is ready for submission:

Know Your Market - Make sure you understand who your customers are and what their needs are. This will help you create an effective marketing strategy and ensure that your product or service meets their needs.

Set Goals - What do you want to achieve with this loan? Make sure to set realistic goals so that you can measure success and adjust as needed.

Financials - This is one of the most important parts of any business plan, so make sure to include accurate financial projections and plans for repayment.

Management Team - Showcase the experience and qualifications of your management team, as well as any outside advisors or consultants who may be helping with the project.

Unique Selling Point - What makes your business stand out from others in the same industry? Make sure to highlight this in your plan so that potential lenders can see why they should invest in you!

Writing a business plan can seem like a daunting task, but if done right it can be a great way to show potential lenders why they should invest in you and your business! Just remember to include all these key elements when writing yours, and don't forget to have some fun with it too!

Rapid Business Plans Honored as 7th Fastest Growing Florida State Alum Owned Small Business

Rapid Business Plans, based in Jacksonville, FL, has been named as one of the fastest-growing companies owned or led by Florida State University alumni. 

Rapid Business Plans was founded in 2015 by FSU alumnus Bethany McClellan (Biology, ’03), and since then has been providing custom-written business plans and feasibility studies for clients seeking SBA and USDA business loans. In 2017, the company was first recognized by Expertise.com as a top business consultant in Jacksonville, and has appeared on the list each year since then. The Rapid team has written over 1,000 business plans and reports that service the SBA and USDA small business government guaranteed lending industry.

“I am thrilled to be honored by FSU among the Seminole 100,” said Mrs. McClellan. “I share this honor with our world class team of 18 staff members who have worked tirelessly the last few years.”

Florida State University’s Seminole 100 is powered by the Jim Moran Institute of Entrepreneurship in partnership with the FSU Alumni Association. The top 100 fastest-growing FSU alumni-owned or alumni-led businesses are recognized at a celebration each year on FSU’s campus, during which each company learns their numerical ranking and receives their award. This event recognizes and honors FSU's entrepreneurs and allows them to share valuable business insights with each other.

“The alumni on the Seminole 100 list represent 12 schools and colleges across Florida State University and show the immense value of a degree from FSU,” said Julie Decker, president and CEO of the FSU Alumni Association. “The accomplishments of these alumni exemplify what is possible with tenacity and innovation. We are proud to recognize them for all they have achieved as leaders and entrepreneurs.” 

The 2023 Seminole 100 includes companies from several industries such as construction, finance, legal, marketing and realty. Of this year’s 100 companies, 80 are based within the state of Florida and a total of 12 U.S. states are represented as part of the 2023 Seminole 100.

Writing Financial Projections for SBA Business Plans

 Why do I need financial projections with my business plan?

Why do I need financial projections with my business plan?  There are many reasons a business owner may need financial projections. Perhaps your business is expanding, or you have not been in business more than 2 years.  Another reason could be you haven’t been profitable in the last year or two.  Any of these situations may require that your loan package is accompanied with financial projections or a full business plan.

There are several important items to include in the financial projections.  Include projected profit and loss statements by month, not by year, balance sheet projections, cash flow projections, and written assumptions that tell how you arrived at those numbers. We use a program called Liveplan that gives a helpful outline and plug and play financial statements.  You should also include the revenue you expect for your business and show this revenue by month. 

Also include what you can charge. What pricing will the market bear for my industry? Start by calculating your capacity--with all the equipment and resources you will have, how many customers can you service in a month? How many clients do you actually expect the first month? Then how long will it take to ramp up to full capacity--or a percentage of capacity, like 75% or 85%? It is helpful to make these calculations in a spreadsheet.

Additionally, include your costs and expenses. How much does it actually cost to produce this product or service? For example, if you sell HVAC handlers, then what you pay to your manufacturer for the unit is a cost, and the labor to install it is also a cost. Employees that are directly associated with providing the product or service you sell are direct labor. Expenses are also called overhead. What are the expenses to keep your lights on? This can be other, non-direct labor, your utilities, phone bill, rent, software, dues and subscriptions, marketing, and other expenses that may be industry specific.  If you are buying a building, don’t forget to include property taxes. 

If you are securing a loan, it’s important to include those numbers in your cash flow calculation. If using Liveplan (our preferred business plan software), please see the Financing section on the Forecasting tab. Don’t forget to include a written blurb in the narrative describing the size of the loan and any payback terms you may already know.

Another item to include is written assumptions.  Part of your business plan should have a section that is a written narrative describing how you arrived at your calculations. I have included a sample written assumptions section that can guide you

• This sample comes from an after-school athletics business plan:

[start sample] Revenue

Revenue is derived from two different sources - monthly memberships and group coaching classes. The monthly membership pricing can be one of three tiers as listed below:

1. Bronze $75 per month 1-30 minute shooting session per week.

2. Silver $150 per month 3- 30 minute sessions per week.

3. Platinum $250 per month. 3- 1hour sessions or 6 - 30 minute sessions.

With this loan, 904 Hoops will be able to expand from one lane available for memberships to first 3 lanes, then 5 lanes total increasing capacity. Capacity per lane, is estimated to be 12 silver memberships per month that we anticipate being the typical membership choice. There are currently 10 monthly members, as we just opened in October 2020. The financial projections on the following pages show a gradual ramp up from those 10 members to our expected 40 by the end of 2021, then hovering around capacity by mid-2022 and thereafter.

Group coaching will initially be 2 cohorts of up to 10 students each and will be $150 per month per student for 4 group sessions monthly. One will be taught by owner Ray, and another will be taught by a guest trainer. There is an expected ramp up, but after year one, we expect these classes to be very popular and at capacity for the remainder of the 3 years contemplated by this business plan.

Costs

Direct costs include only the guest trainer, and that is a revenue split between owner and the trainer wherein the owner receives 60% of the class revenue and the trainer receives 40%.

Expenses

Regular expenses include:

Rent - $2,100 to be paid until lease ends in September 2021

Cable/Phone $100/mo

Alarm - $100/mo security and cameras

Electric - Much less at existing rental location, increasing due to new air-conditioned facility opening Oct 2021.

Insurance - $800/yr

Is Your Small Business Recession Proof? Guest blog for Supporting Strategies

Recession-Proof Business Planning

A strong economy can mask underlying problems at a small business. When the next recession hits — and historically speaking, it's already overdue — will your business be healthy enough to not only survive, but possibly even thrive? It can be — but only if you have the right plan in place.

Be Ready When Opportunity Knocks
Every small-business owner says they want to grow their company. But how many are really prepared for the challenge?

Often, a vital step in growing your business is being able to raise cash quickly to capitalize on a sudden opportunity. Oddly enough, a recession can present some prime opportunities for growth, as some of your competitors might decide to sell off their assets at an attractive rate when faced with financial distress.

And the first step in raising cash is to have a lender-ready business plan.

SBA Loan Basics
Anytime you apply for an SBA loan, your package must include a business plan that meets the underwriter's requirements. Those minimum requirements include 12 to 36 months of:

• Profit-and-loss projections
• Balance sheet projections
• Cash flow projections

And that's just the financial portion. You'll also want to include an executive summary with notes on market size and demographics.

A word of warning: When writing a business plan or applying for a loan, it’s not a good idea to describe your potential market as "everyone." That's just a sign that you haven't done your homework.

A dentist, for example, could reasonably argue that everyone in the world needs dental services. But the bank could just as reasonably counter that one dentist can't possibly treat everyone in the world. So it comes down to the dentist defining the geographic area their practice will encompass, explaining why that area isn't already saturated with dental-service providers and defining what sets the new practice apart.

A Good Time to Start
A recession can be a good time not only to expand an existing business, but also to start a business from scratch — provided several similar area businesses have failed and created an opening.

If you're starting a new business, your SBA loan application should include much of the same information as an existing business' plan. It should also include a detailed SWOT analysis (strengths, weaknesses, opportunities, threats) and spell out the type of corporate structure you plan to use (LLC, S-corp, etc.). Finally, the business plan must clearly indicate how the prospective owner's career experience is relevant to the new venture.

Take Advantage of the Help That's Available
A number of resources are available to assist small-business owners with business plans. In my area, for example, the University of North Florida has a Small Business Development Center office that offers free coaching on how to start a business, including writing a business plan. That can be very helpful, and their thorough assistance over the course of many months can be vital for the novice entrepreneur.

If a recession hits, you won't have months to respond. That's why it's so important to prepare for one today.

Bethany Barnes, Director of Business Development at Rapid Business Plans, delivered a presentation on recession-proofing at the Business Fundamentals Bootcamp hosted by Pete Denholm, Managing Director of Supporting Strategies | Northeast Florida.

Introducing Rapid Business Plans