Business Plan Start-up Tools

There are many factors to consider when creating your business plan. We have developed the Business Plan Start-up Tools page to aide you, the entrepreneur, in brainstorming before, during and after the business plan process. Reading through the articles located on these pages will give you a better understanding of some of the standard issues facing start-up businesses and those writing small business plans. Your goal as an entrepreneur should be to go into businesses with as much information and knowledge on the variables and the requirements of your particular business. While Masterplans can write you an excellent business plan, only you can guarantee the success of your company through proper planning.

The following pages are designed to help entrepreneurs. Requests for specific information should be directed to info@masterplans.com

Business Owners Insurance
If you are going to be in business, it is mandatory that you carry the proper insurance to mitigate the company’s risk. One of the most common forms of insurance for businesses is business owners insurance.

Buying a Building
Oftentimes businesses approach Masterplans because they are seeking funding to purchase a land and/or a building. Land/building helps to improve the value of your business and also can be used to leverage your company in the long-term.

Buying Equipment
Almost every business faces the challenge of buying equipment during start-up. It is best to know your equipment options and whether to lease or purchase your equipment outright before you go to the bank or an investor.

C-corp Registration
A type C corporation (C-corp) registration is one of the most common business entities operating in the U.S. today. However, there are many variables that you should understand when registering your business and a C-corp is not the right choice for every business choice.

Commercial Auto/Vehicle Insurance
If your business sees you employing vehicles on a regular or even semi-regular basis, you must consider the need for commercial auto/vehicle insurance.

E-mail Hosting
Common in the modern business environment is the need for reliable and advanced email hosting services. Email hosting has become inexpensive, but you must ensure that you are employing the right system to integrate with your business’s daily functions.

E-mail Hosting
If you are forming a partnership amongst 2 or more individuals in a business, you must look to establish a partnership agreement. A partnership agreement should include a Memorandum of Understanding.

Form Business Entity
Before you start business operation you must form a business entity that is registered with state and/or regulatory officials. The business entity will determine the tax and operational category of your business and therefore you must proceed with education and probably the opinion of your legal professional.

Hiring Consultants
One of the hardest decisions you will have to make is when to hire a consultant. The answer is simple, but you must be prepared to be exceedingly honest about your business and yourself and the strengths and weaknesses you have as a company.

Leasing a Building
Most start-up businesses choose to lease a building rather than buy. This is because of the significant liability and expandability new and growing businesses face. In most situations we suggest a short term lease to begin with; however, individual situations do dictate lease needs.

Leasing Equipment
Leasing equipment is a great way to reduce your start-up expenses and costs. It is especially valuable to lease equipment that will devalue quickly or become obsolete in just a few years. Many leasing companies offer an update package after a predetermined number of months.

Leasing Vehicles
If your business seeks mobility for its employees then leasing a vehicle might be the solution you are looking for. Speak with your accountant to weigh the pros and cons of leasing vs. buying.

Legal Representation
Hopefully your business will never need to seek legal representation in its defense, but in the modern world it is best to be prepared legally before litigation occurs. Additionally, legal professionals can be useful in several different areas of business.

Liability Insurance
If you are in business chances are you have liability insurance, if you don’t, chances are you need to get it. Make sure your current or future policy has coverage amounts that protect both you and your business.

LLC Registration
A Limited Liability Company is one of the most advantageous business entities for privately owned businesses. Be sure to understand and consult with your legal professional about the pros and cons of an LLC for your organization.

Marketing Consultants
Marketing is a tricky animal and marketing consultants with experience and success in your industry can make all the difference for your business. Oftentimes a marketing consultant can take the weight off a full-time internal marketing staff, and be much more efficient with the marketing budget.

OSHA Compliance
Avoid getting into trouble and protect your employees with workplace safety compliance. Occupational Health and Safety Administration (OSHA) outlines guidelines and regulations for workplace safety.

Permits & Licenses
Make sure you are doing business legally by checking into all permits and licenses required by city, state and government authorities. Regulations and laws vary by state and by industry.

POS Systems
Point-of-sale (POS) systems are an integral part of retail operation and come in all shapes and sizes for virtually every industry sector. One of the best POS solutions is delivered by none other than Microsoft, allowing you to integrate seamlessly with any of their other business solutions.

Professional/E&O/Malpractice
It is important to insure your business properly against any claims that could put the future of your company at risk. There are several sources and insurance products for virtually every type of business coverage.

Public Relations Experts
Public relations is a tricky endeavor for any business, but there is a plethora of skilled professionals out there to help. However, you don’t need to be a big company to leverage a good PR campaign.

Regulation D
A Regulation D is a legal document regulated by the Securities Exchange Commission in order for businesses to properly and lawfully retain equity capital.

S-corp Registration
Some business entities benefit from registration as an S-corp or subchapter S corporation via the election of this status. However, you must have a clear understanding of how an S-corp affects your liability and is taxed.

Search Engine Consultants
Many businesses that we work with are pursuing business either strictly on the internet or using the internet to support their brick & mortar organization. Search Engine Consultants can be valuable when moving into the complicated world of ecommerce.

Sole Proprietor Registration
Registration as a sole proprietorship entity is one of the simplest business formations, yet remains very inflexible for most businesses.

Website Hosting
Website hosting is a consideration that most new businesses must face. It is best to utilize knowledgeable and flexible web hosts in order to benefit your business and allow for growth.