Legal considerations of a business plan

Location and Facilities optional 1. Company Overview There are many variations and approaches on how to lay out the various components of a business plan. The primer below is meant only to explain the broad differences between the most common company types.

Legal considerations of a business plan

All costs and expenses are taken from the high side of any estimates or ranges. The sales figures are deliberately figured from the low side of any projections. This was done to present the project in the most conservative manner. Targeted market share projections are very conservative considering that we will be the only store of this type in the market area.

legal considerations of a business plan

The nearest full line competitors are 70 miles away. The cash flow chart does not account for four weeks in the year. For ease of accounting all months are assumed to have exactly four weeks. This action allows for some buffer effect in cash flow assumptions.

These savings are not reflected in the cash flow estimates, as they are not locked in until the actual purchases are made and are based on the size and the timing of the order. The landlord, recognizing that the store will be a magnet store that will draw customers, offered an excellent lease at about half the going rate for the area that we are located in.

We will generate shopping traffic for the other businesses in the building. The depreciation expense account in the cash flow projections is based on MACR schedules for assets in the 7 year category.

The first is to open Celebrations of Kokomo. This will be a retail store selling three lines of merchandise. Paper products such as plates, napkins, tablecloths, balloons, decorations, and banners. A full line of wedding accessories such as bridal pillows, cake tops, server sets, and so forth.

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Etched glassware such as wine glasses and wedding and anniversary gift sets of glass and crystal and a careful selection of items suitable for gifts for weddings, anniversaries, and special occasions. The break even point of sales vs. Debt service is paid from the first month of operation.

Total accumulated profits compared to all accumulated expenses become positive in the 10 th month of the first year.

In stage two we hope to expand the business to include event planning and coordination of peripheral services such as hall, rentals, limos, and caterers. This stage does not require financing and will be implemented, as it becomes viable. The retail market in the tri-county are of Jackson, Green, and Yardley counties is estimated at 3.

Volume and selection will allow moderate pricing strategies. Management skills of the owners: Rivers Legal structure of the company: Retail sales of decorations, paper goods and accessories for weddings, birthdays, anniversaries and all types of parties and occasions.

Reasons for formation of the company: The main reasons for starting this company are to provide a useful and needed service to the community, to fulfil lifelong ambitions of being in charge of our destines, to work for our own economic welfare, and to function at our potential.

Goals The short term goals for this business are to establish a thriving and competitive presence in the accessories niche of the wedding and party business, and provide a local alternative to what is now a major trip to the nearest competitor. We also want to provide glassware engraving, a unique and specialized service that will be recognized for high quality and considered to be an appropriate gift for very special occasions.There are a multitude of legal issues to think about when it comes to starting your business.

Everything from your business name to its structure to its operation has legal implications. What follows is a sampling of some of the legal concerns you may want to address with your attorney before you start your business. Doing Business in Missouri: Legal Formation is intended to serve as a reference document and in no way attempts to provide all the information necessary to form a business structure.

As noted in my previous article, "How Sarbanes-Oxley Affects Your Disaster Recovery Planning," there are many misconceptions about the legal requirements for disaster recovery planning. As with the previous article, I went straight to the source to inquire exactly what we should be concerned about.

Legal Requirements. In order to operate a business under a fictitious name, you must register that name with the clerk of court in the county where you are operating, or with the agency responsible for keeping track of businesses operating in your state.

The legal business structure you choose will determine how much or how little information you need to put into the Organization and Management section of your business plan.

This section will ask you about your company’s organization structure, ownership information, and board of directors. This business plan for a party supply retailer is a nearly exhaustive consideration of the party planning industry's potential in this owner's market.

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