What should be in your business plan, chances are you are going to be borrowing money and the plan needs specific information that reflects on your success. Over 90% of small businesses fail in their first year due primarily to a lack of planning. Financial institutions want to know that you have done your “homework” and understand basic economic terms and trends within the industry.
Short term –midterm and long term goals that are realistic need to be explored.
Be able to show your cost of operation including the fixed costs and variable costs. What are they and how can you control those costs. Learn what your operating assets are in comparison to your liabilities. Learn how to manage costs and be able realistically project your financial success. Determine how much cash flow you will need to succeed.
Develop realistic operating procedures that reflect the freight you will be hauling and the demographics of where the freight originates and where it is delivered. Understand that different freight lanes require different rates and why. Know where to get freight and when to use and when to avoid load boards. Spot market vs contract rates. How to figure a fuel surcharge or should you figure a fuel surcharge, advantages and disadvantages?
This first training class is an overview of what you need to succeed and what you will need to show to financial institutions and lenders in securing financing. The other training classes will help you to answer the multitude of questions that you will face in securing a realistic and comprehensive Business Plan.