When building a house, the blue print is what will get you started and help you stay on course. The blue print that will assist you in purchasing a new or existing business will be your business plan.

Currently, as Director of Sales & Marketing for ShipOnSite, Inc and as a former commercial lending officer, I will provide some guidance as to the contents of the business plan. Certainly, there are plenty of resources available that provide general advice and specific recommendations with regards to preparing a professional business plan.

Here are a few suggestions on what to include within the content of the Business Plan:

Executive Summary: business opportunity, description and loan request

Company Background: history, objectives and ownership

Services/Product line: description, comparisons and delivery

Industry: profile, size, market growth, competition

Marketing Plan: pricing, competitive advantage, distribution channels

Operating Plan: location, facility, equipment, suppliers/vendors

Management: principals, structure

Goals: keys to success, future plans

Financial Assumptions/

Projections: balance sheet, income/expense

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Most of us need a business loan to assistance us with the purchase.  Unfortunately, our current economy is not quite as vibrant as a year ago and the neighborhood banker may be acting a tad bit conservative when it comes to approving loans.  However, regardless of the economy, the bankers still need to make loans; it remains a big part of their overall profitability.

Start your “loan request” with three telephone calls.  This will save you time and perhaps some aggravation.  Your three calls should be directed to three separate banks.  Depending on your community, you should consider speaking with a large national bank, regional bank and a smaller community bank.  Here is a list of questions that you can use as a guide to assist you in your conversation and finding the “right” bank.

First, make sure you are speaking with a knowledgeable lending officer, who understands the banks policy on lending to the small business community.  Confirm that the bank is “small business” friendly!

How receptive is your bank with small business loans?

Do you work closely with the SBA (Small Business Administration)…if so is the bank on their Preferred Lending Program?

Do you (the lending officer) have individual authority to approve my request or is there a central lending committee that you submit my loan request to?

Once you gain some comfort that the bank will legitimately consider your loan request…keeping moving forward with the questions!

Is there a minimum percentage required with regards to my investment in the business?

Is there a minimum credit score? (If possible, run a credit report on yourself so there are NO surprises to you or your banker)

Will your bank require my personal guarantee?

Does the bank require a business loan application?

Does the bank require a current personal financial statement?

Do you require a copy of my personal tax return… if so how many years?

Do you require a Business Plan…if so what, exactly would you like me to include?

At the end of this question and answer period you should know what documents the banker will need to consider your loan request.

Having this conversation, three times will help you organize your thoughts and ultimately decide on which bank YOU would like to do business with….Before you go to the Bank!

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It’s at this point, when I encourage our future owners to take ownership before you gain ownership.

I remind these “entrepreneurs to be” that the next step is critical and will take time and effort on their part.  Ultimately, these efforts will pay dividends in the long run.

The steps may include; an appointment with the local Small Business Administration and SCORE.  This organization and their representatives will provide valuable insight into the new venture.

A complete and professionally prepared business plan. (prepared by the owner!).

The business plan should include; Company Background, Services, The Industry, competition and market, Marketing Plan, Operating Plan, Management, Goals and Strategy and Financial Assumptions.  Set appointments to visit with a few banks with regards to the loan request.  Arrive at the appointments early and well prepared to address and enthusiastically describe your business plan

Successfully completing these few steps will create a solid foundation for the new business and take you one step closer toward “gaining ownership”.

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We have stayed on track with our goal to be a cutting edge company, by incorporating shipping, eBays sales and office services under one roof. Our stores have stayed unique in their services as well as appearance and this makes us very proud. We hope to use this blog to keep you informed of our new innovative business practices here at ShipOnSite. Stay tuned to learn how we are turning ShipOnSite into a global business as we start to bring product in from China which will be available to the public. As I write this, the temperatures are soaring and breaking records here in Raleigh North Carolina! I’m amazed that there is still the flow of customers that we see here on a regular basis.

It didn’t stop one gentleman from coming in yesterday to ship a $16,000 bassoon… overnight… for that matter. Gotta love the shipping business, because you still can’t get it there over the internet! Speaking of the internet and things you’ve got to love… check out our latest listings of old “Morse code” and radio equipment… pretty cool! Now let’s hope it gets “cool” outside.” Keep watching BlogOnSite for more breaking news about ShipOnSite.

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The seller brought in a stuffed dummy that he had built and named Mac. Our team of professional packing a shipping experts packed the living daylights out of this box and used “Mac” as additional packing material. FedEx came in a couple of days ago, picked up the box, and sent it on its merry way.

The purchaser of the TAM had a sense of humor, and photodocumented the process of opening the box, revealing the computer, and going through a first boot squence. Fortunately for us, he posted it ALL to YouTube. So here it is… the unveiling of the 20th Anniversary Macintosh!

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