Business plans clarify the service or products your company provides. They also state and document how you will reach your business goals. Business plans vary in length, however when properly written the average is about 25 pages. Most business plans will cover the same topics, but a solid business plan can be the difference between your idea, and creating a successful business.

It’s important to know and understand who your competition is in order to strive to the best and the more successful company. In order to achieve this goals, there are several different ways to research competitors.

  1. Perform an online audit. Check out a competitor’s website. See exactly what they’re offering, as well as the benefits and/or deals they maybe currently offering.
  2. Check your competition out on social media. Social media sites can provide a deeper inside look at another business where you could learn some interesting facts.
  3. Keep a close eye on their reviews. Do they have good reviews? Knowing how their customers feel about them can get you one step ahead of them.
  4. Ask your potential customers where they shop or get their services now, and why.
  5. Create a poll on Facebook or start a survey in your market area and see if your service fulfills a need that they aren’t fulfilling now.

Your research should answer the following questions:

  • What are they doing well and perhaps your company isn’t?
  • What do their customers like and dislike about their services or options offered?
  • Can you do it better while being more cost effective than your competitor?
  • What makes you different from your competition?

 

If you understand your audience and how to target them, it become a lot easier to promote your company, and rise above your competition. Thinking outside of the box by studying everything mentioned in this business plan article should help keep you as the forerunner in your business arena. Remember, your business plan won’t make you successful, but it does serve as a road map to getting your company to its destination.

The Best Business Plan can provide immigration business plans which are specific to your visa requirements, and are included in your immigration application. The business plan is critical because it documents that the business you wish to open or acquire will be sustainable. It also looks to prove that your business will provide real products or services, and employ American workers.

Business or employment related visas can seem daunting and almost impossible without the help of an attorney. Our dedicated and highly qualified team of professionals are here to help.

The USCIS (U.S. Citizenship and Immigrations Services) documents the business plan requirement on their website. There are several different types of visas available. Visa applications which require business plans are:

L-1 Visa

B-1 visa

E-1 visa

E-2 Investor visa

EB-5 visa

A customized business plan written as part of a visa application is completely different from a traditional business plan. Traditional business plans are written for investors, and business partners. Visa Business Plans are written for U.S. Immigrations officers, with the sole purpose of obtaining an immigration visa. The format, content, and tone of the Visa Business plan is different too. This business plan is crucial to the success of your visa application.

The Best Business Plan is here to help with your custom business plan. Our dedicated and highly qualified team of professionals has over 80 years of combined business experience to write your business plan. We will provide you with the best opportunity in accomplishing your objective at an extremely low price, while maintaining quality. Our business plans stand out against the competition and will exceed your expectations. Our Visa ready business plans are completed with 5-year projections and start at only $795.00. To quickly get started, please provide us with some details about your company. After we review your information you can expect a “FREE” PRICE QUOTE and/or a “FREE” CONSULTATION via email or telephone within 24 hours or less!

Business StructureAn important part of your business plan is the actual structure you will use. Choosing a business structure is very important for two important reasons.  Number 1: tax implications & Number 2: personal property.

Don’t be fooled, you had better know the differences, as well as the impacts each one can and might have on you.

Sole Proprietorship

Advantages

  • The business is owned and operated by you. There are no partners or board of directors.
  • It is the least expensive to set up. You alone reap the benefits, and losses.
  • It requires the least amount of paperwork on your part.
  • You have the ability to move funds in and out of accounts.

Sounds great, doesn’t it? It is, but it is important to know and understand the risks that come with sole proprietorship.

Disadvantages

  • Just like you reap all the benefits, you are also responsible for ALL of the debt.
    This responsibility extends to your personal funds.
  • You do not qualify for tax benefits as corporations do.
  • It is more difficult to secure a loan.


Partnership

Advantages

  • It is between two or more people, therefore you share the responsibilities.
  • Each party shares in losses and profits.
  • Partners share in contributing money, labor and/or property.
  • Less expensive to start, and they do not pay minimum taxes that larger corporations
    are subject to.


Disadvantages

  • Your partner’s decisions are your responsibility.
  • Unorganized partnerships easily lead to disputes among owners.
  • Two or more ways to split the profits.

 

The Limited Liability Company (LLC)

Advantages

  • Personal liability protection for owners.
  • Pass through taxation.
  • No annual meetings.


Disadvantages

  • Costlier than others, and due to the lack of laws, there are more fee’s involved.
  • There are no specific or defined roles for members.
  • There is a limited life, if a member leaves the business, the business can no longer operate.


Corporation

Advantages

  • Legally, a corporation is separate entity from its owners and shareholders.
  • If an owner leaves, the corporation still exists.
  • Taxes can be passed through.
  • Funds can be raised by selling shares.


Disadvantages

  • The start-ups fees can be expensive.
  • There is much more paperwork to file compared to other business structures.
  • Taxes are more involved, and they are filed through the corporation.
  • Annual meetings are required and must be recorded.


Corporations are broken into S and C corporations. They are similar, but there are differences when it comes to ownership, shareholder rights, and taxation. Check with an accountant to be certain on which scenario fits your needs the best.  More information about the differences can be found here.

Here are 5 reasons why you need a business plan.

  • A business plan demonstrates that you as an owner have both direction and are serious about your company’s goals.
  • As an entrepreneur, you need to have a deep understanding of your industry and a business plan will help guide you and your managers to reach your company’s goals.
  • A business plan is used to gain funding from either a financial institution or an investor. You will need to provide solid evidence that you have sufficient cash flows, that you are able to meet debt obligations and that you have considered future scenarios.
  • Having a well-developed business plan will help you to know and understand your customer base, as well as expand the business for the future.
  • A business plan will keep you and your company on target and organized so you do not stray. Anyone reviewing your business plan should be able to determine the company’s short and long term goals.


Hiring a professional company like Thebestbusinessplan.com that has a combined 80 years of business experience, will ensure that you have the best possible opportunity in achieving all of your goals. Whether your goal is to raise capital from a bank or an investor, or to expand your current business, a well-executed plan is essential for any company to survive. Our business plans stand out against the competition and will exceed your expectations. Our business plans are well received by both SBA lenders and Banks, as well as Investors.

We are ready to provide you with:

  • Business Plans
  • Financial Services
  • Business Proposals
  • Investor Pitch Decks

 

Contact us today with some details about your company and we’ll provide you with a fast and free quote to get you started.