Why a plan for your business is vital and how here at Zoom Startups can help you with your business needs
A planned-out business can help you efficiently start a new business. The plan should answer the following questions: 1. What is the purpose of the business? 2. How is the business going to execute its purpose? And 3. When is the business going to execute said purpose?
We suggest business plans to our clients because it helps them further identify and execute the steps they should take for their business strategy, and we have seen through our clients’ businesses that having a business plan is actually much more beneficial than not as it provides the business owners and inventors with a clear picture of the business’ intended purpose.
MANAGEMENT SUMMARY
Management summary is a short and brief document produced for the purpose of outlining the business’ identity, what the business sells and consumer base. You should also include a brief summary of financial projections and any other relevant factors that make your business stand out. This is the first thing — and, in some cases, the only thing — that someone will read.
DESCRIBTION OF BUSINESS
Similar to the management summary, the description of the business goes into further details of what products or services the business provides, its objectives and if applicable, the outline should describe the manufacturing and production process along with the supply origin.
COMPETITION ASSESSMENT
A detailed market analysis that includes an assessment of competitors (names and why you can compete with them) along with the strengths and weaknesses of these competitors. This has to be a descriptive analysis that includes financial data and looks at the competitors’ products, services, and pricing structures.
MARKET ASSESSMENT AND RESEARCH
Its best to recount your target market, who you expect to sell your product or service to, and why. In addition, you should detail any business that you have already attained and detail executed contracts. To the extent contracts have been achieved, the specific terms and details should be included in the plan.
HOW WILL YOU GET CLIENTS
You must provide a comprehensive overview of the marketing strategy of the business, including pricing, advertising, and how you will provide your products or services. You should detail the exact forms of marketing as well as the marketing strategy.
WHO WILL YOU HIRE
A detailed plan that outlines the employee’s business’s organizational structure and personnel is also required. You should explain both current and future hires along with job description, wage, and benefits.
FINANCIAL DATA
Your plan should include a thorough amount of financial data, including sales, costs/expenses, balance sheet, cash flow, and income forecast. You should also include all relevant assumptions that explain how you came up with the information you provide.
Entrepreneur & shareholder support contracts
ZoomStarups supplies legal support to business owners and founders of new businesses along with startups at all stages of evolution. We can offer you a full range of startup legal services, including investor agreements (operating agreements and shareholder agreements), business plans, contract review and drafting, purchase/sale representation, due diligence review, and more.
- ✓ Shareholder agreement drafting and review
- ✓ Partnership agreement development and review
- ✓ Review and drafting of contracts
- ✓ Business plan development
- ✓ Due diligence services
- ✓ Strategy consultation
- ✓ Internal control review and assessment
As a business owner, you are usually faced with decisions regarding your business set up, contract negotiations and business planning. Zoomstartups was founded by a legal and businesses consultant who is in good standing with the Law Society of Upper Canada. We offer a variety of services to help the busy entrepreneur or investor with their business needs.
One of Our Key Services Is Contract Review and DraftingThere was a time when doing business on a handshake made sense. Regrettably, as things became more complicated and everyone has different motivations, contracts have become more essential. A contract is a document between two or more people that spells out exactly what the understanding is between the parties. They are developed to force parties to consider what it is that they want and also to set the expectations between the parties. Often, when there is a dispute, one or both parties point to the provisions in the contract to enforce their claims.
Contracts can be written or oral and there are a variety of forms of contracts. In order to protect yourself, a well-structured contract is essential. ZoomStartups can draft this for you. We can also review contracts that others have asked you to sign. Remember that if someone is asking you to sign something, there is a good chance that they had their lawyers draft it. Why not be on a level playing field and get ZoomStartups to read the contract?
We can provide contract services in many areas including
- ✓ Contracts with vendors, suppliers, or distributors
- ✓ Non-disclosure agreements
- ✓ Non-compete agreements
- ✓ Employment agreements
- ✓ Contracts with contractors or service organizations
- ✓ A wide range of other situations where an agreement is needed between parties
Startup Entity set up
The choice of business form has significant tax, financial and liability implications that you should carefully consider with your attorney. Your choice of business form can impact:
- ✓ personal liability for claims against your business
- ✓ Your ownership rights
- ✓ The ease or difficulty of transferring your ownership rights
- ✓ Your right to manage the day-to-day business activities
- ✓ The tax treatment of your business
- ✓ Your ability to finance the business
- ✓ Your ability to terminate your business
- ✓ And many other critical business decisions
Zoomstartups will start by advising you on which business form makes the most sense for your business and then guide you through the process of setting up the business form you select including:
Partnerships
We can assist you with general and limited partnership agreements, certificates and amendments of limited partnerships, business certificates, assignments of interest of partnership property, agreements to dissolve partnership and more.
Some of our services include- ✓ Business Entity Selection and Formation
- ✓ Consulting & Independent Contractor Agreements
- ✓ Shareholder’s Agreements
- ✓ Partnership Contract Development & Review
- ✓ Business Plan Development & Drafting
- ✓ Nondisclosure Agreements
- ✓ Drafting or review of corporate contracts
- ✓ Strategy Consultation
- ✓ Due Diligence
- ✓ Drafting and/or Review of Purchase/Sale Agreements
