Show Them That You Mean Business

It’s time to get down to the nitty gritty — the day-to-day operations of your business, including hours of operation, manufacturing schedule, and the internal operations and equipment required to produce your product or service.

Your Operational Plan

Your operational plan demonstrates that you’ve thought through — or you’re already using — a viable approach to creating your product or service and getting it delivered. Cover these four key areas.

Your business’ location

Explain where your business is located or will be located, and include the size and type of space, including square footage and whether it’s an office, manufacturing facility, retail space, or warehouse. Describe any advantages (or disadvantages) to your location, and if relocation is possible, explain when it will be necessary and why. (Include a rough layout of the property in the appendices.)

Your equipment

List and describe all the equipment you require, from office to vehicles to manufacturing machinery. Explain what each does and how they work together. Include the cost to purchase, lease, and/or maintain the equipment.

Your labour

Include details on all your employees, including full-time, part-time and outsourced. Create a table that lists the number of employees, hours worked and pay — organized by overall job function. Include job descriptions and skill sets.

You production and/or service
Explain the production, manufacturing or service process from beginning to end. List your key suppliers and how you pay for and receive materials. Where do you store finished products, and what does this cost? How do you distribute finished products? How long does the entire process take? How do you track inventory?

DON’T MISS THESE KEY COSTS!

1. INSURANCE – Discuss the potential liability and the cost of insurance.
2. QUALITY CONTROL — Explain the process the procedure.
3. TAXES
4. SHIPPING
5. MAINTENANCE
6. CONTINGENCY PLANS
7. STAFFING SHORTAGES
8. LONG-TERM EQUIPMENT CHANGES
9. LONG-TERM FACILITY CHANGES
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