Have you been bitten by the real estate bug and feel ready to take the next step? Learn how to write a business plan for your Franklin investment company so you can procure new funding options.
Investment company is a business just like any other, and you should have a plan. Success rarely comes without careful planning, and the same goes for your investment business. You should plan to set the tone of your business and to define how things shall be done – both today and in the future. The plan you make today should help you as a reference as you grow your business. In further text, you can read some tips and hints that will help you create a business plan for your Franklin investment company.
Start With The Basics
Your business plan should include a few different sections to define your business and what you wish to achieve. A few of the sections to include are:
- Your mission statement
- Your business goals
- Your expected timelines
- Your strategy to meet your goals
- How you will qualify investment opportunities
- How the properties will be managed
- Your marking plan
- Your financing plan
- Your current financial state
- An exit plan
- How profits will be managed
Of course, there are a number of other sections and details that can be added to your business plan for your investment company, these are just a few. Below, we will break them down into a little more detail.
Your Mission Statement
Mission statement is no longer a necessity in your resume, but it is definitely important and must-have in your business plan. Your mission statement should include what is your business’ purpose, what are the services you provide and what benefits you can offer. In other words, it should state what you do, in which way and why.
Within your business plan, you need to outline the goals for your investment company. Whether they are large or small, lay them out as detailed as you can. This will not only help others to understand what you are doing, but it will also help you stay on track to achieve what you had set out to do. Writing your goals down makes you more likely to achieve them, so getting detailed about them in your business plan will only serve to benefit you!
When you’ve set your goals, how do you plan on achieving them? Your business plan should outline how you think you can achieve your goals. Whatever your goal is, whether it’s flipping houses, reselling mobile homes, developing land or something similar, you must define what you plan to do and how you plan on doing it. Of course, your business plan can be modified, as occasions and market tends to change, so nothing is written in stone.
How do you plan on funding your deals? Are you using saved funds? Borrowing from a bank? Or partnering with other investors? When creating a business plan for your investment company, you’ll need to clearly outline how you intend to make your investments. If you are using your business plan to help you acquire private money, don’t be afraid to write that down in this section.
Marketing is really important for any business. Have you spent some time thinking about that? Before people can acquire your services, they must know how you are and what are you offering them. Your business plan must include the advertisement sources and expenses, as you must know how you are going to find renters or buyers on time.
Your Exit Plan
Whether or not you wish to enlist the funds/help/time of others, you will need to outline an exit plan to be used should things not go as you had hoped. A savvy investor will have a solid exit plan they can enact to immediately get them out of their difficult situation and away from their investment obligations. If something goes wrong or if another opportunity arises, you will need to be able to get out with as little negative impact as possible.
Once you have created the business plan for your company, its time to put that plan into action! As your business grows, this will be a document that you refer to time and time again. As your business changes or new needs arise, you can always add or modify your document. Your business plan can be used to obtain funding from outside sources. It will show what you and your company are all about! Once you are ready to find the deals to fulfill your plan, our team can help! We will help you find the most profitable investment properties in the Franklin area.