What is a Business Plan?

Is a traditionally formulaic and resourceful process for businesses to look ahead, allocate resources, focus on key points, and prepare themselves for problems and opportunities they might encounter in the company’s future.

What do Business Plans Include?

Business plans should aim to include certain key elements. Such as the businesses strengths, not many of the business’ weaknesses, a concept of security (particularly something you can convert into cash), credible data, and proof of profitability.

U&Me Dance – Dance Studio Business Plan

-Financial
For an example of a business plan we’ll take into account U&Me Dance. Certain highlighted financial elements focus on their start-up expenses, funding, and monetary requirements for profitability in the first year of operation.

-Strengths
U&Me Dance offers a variety of dance lessons within their own facility, along with expanding into the community by offering specialty dancing in schools, and nursing homes.

The business plan also has a very realistic understanding of their target market in relation to their planned location.

-Proof of Profitability
The business plans states that U&Me Dance is the only studio that offers classical styles of ballroom, and social dance in the area of their studio location. This provides reassurance to investors/funders, and a positive outcome for profitability for a studio with such specialized dance forms.

If you’re interested, U&Me Dance’s Business Plan can be found by following the link:

http://www.bplans.com/dance_studio_business_plan/executive_summary_fc.php