Writing a Business Plan Free
Writing a business plan free can be accomplished through various means. The Internet provides an assortment of free business plan software. Most include a variety of real estate business templates which can be customized to suit your needs. Some focus on a specific niche such as residential or commercial real estate investments.
Writing a business plan free provides the opportunity to determine real estate investing objectives. The primary goal of developing a plan is to create a roadmap for launching, expanding, and eventually exiting your real estate business.
Regardless of the type of business or real estate niche, a business plan helps establish goals and determine the steps required to reach those goals. If you aren't certain which direction your real estate business should go, using business plan software can help you narrow down your niche.
Preprogrammed software asks questions about the types of investment opportunities which interest you. Answering these questions helps users decide if they are better suited for rental properties, house flipping, wholesaling, retail or commercial ventures.
As you develop your plan, focus on the needs of your business. For example, a business plan for a startup company will focus on different areas than a business plan used to attract capital investment funds.
Creating a business plan takes time and patience; particularly if it will be used to obtain startup or expansion financing through lenders or real estate investors. The average business plan consists of between 20 and 30 pages and includes pie charts, graphs and tables.
Standard business plans typically focus on seven sections and include the following:
1. Executive Summary - This section summarizes everything within the plan. In actuality, the executive summary should be written last. In most cases, the summary is the first thing business partners and investors will read. It should be concise and contain attention-grabbing information.
2. Company Mission Statement - This section should focus on the purpose of your real estate business, what you stand for, and your target market.
3. Products or Services - Explain what your real estate business offers. Are you buying houses in a certain market? Do you help people in dire situations such as foreclosure, bankruptcy or short sales? Describe what sets your business apart from the competition.
4. Market Analysis - Discuss both present and future scenarios and describe how your real estate company fits into the marketplace. Utilize charts and graphs to emphasize specific market trends.
5. Strategy and Implementation - Outline strategies you plan to implement to create a successful and profitable real estate business. Explain your goals and how you plan to obtain them.
6. Management Team - Whether you are flying solo or will partner with others, it is important to include a resume of key personnel. Highlight each management team member's qualifications, experience, and the duties they will perform.
7. Financial Projections - Although this can be difficult due to the turbulent real estate market, the information presented in the previous sections can help you assess financial projections. If you intend to use a business plan to obtain financing, you will want to forecast sales for a minimum of three years.
Although writing a business plan can appear to be an overwhelming task, breaking it down into smaller tasks makes it more manageable. Business plans are intended to provide insight to the tasks, strategies, strengths and weaknesses of your business concept. Taking time to write a plan can be your ticket to success.
If you aren't certain what type of real estate business to start, I invite you to browse through my real estate business article database. Here you can learn about the various types of investment opportunities, real estate clubs, investment strategies and financing options.
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Published on April 16, 2009 at 03:26 AM