How to Write a Business Plan

INDEx | 267

opening inventory, 124
retail business description and, 29
taking a physical inventory, 120
tax returns and spotting employee theft,
119–120
turnover of, 136, 137
Investors, 119, 159–160, 177–178, 198–199.
See also Financing; Selling your business
plan
IRS worker classification, 114
ISP (Internet Service Provider), choosing
a, 206–207

J
Job descriptions, 2, 153, 159

L
Landlords, 6, 58
Laundries, 23
Leasehold improvements, 111, 124
Leasing, 6, 110–112, 114, 124, 165, 200
Leasing companies, 69
Legal form of business, 56–58, 190–191,
200–202
Legal matters, books on, 201–202
Lenders. See Financing; Loans
Liabilities, 90–93
Liability insurance, 114
Licenses, 118, 123, 124, 212
Life insurance, 86, 93
Likes and dislikes evaluation, 15–16
Limited Liability Companies (LLCs), 57,
194, 201
Limited Liability Partnerships (LLPs), 57
Limited partnerships, 9, 181
Liquidation sale, 190
Living expense deferral, 60–61

Living expenses, calculating annual, 97–99

LLCs (Limited Liability Companies), 57,

194,    201

LLPs (Limited Liability Partnerships), 57

Loan-gift hybrids,  62

Loan interest calculator,   116

Loans

balloon payment (interest-only), 52, 65,

133

collateral, 53, 64, 65, 93,     177

cosigned, 52

equity investments compared to, 58–59

as expense, 40, 93, 97,     133

from friends, relatives, colleagues, 62–63

fully amortized, 52

interest on, 115–117,   133

legal details of,   179

loan-gift hybrids,  62

note and loan agreement,    51

online interest calculator,     116

overview on,    51

personal guarantee requirements,    58

prepayment penalties,   51

promissory notes for,   180

secured, 53

unsecured/signature, 54

Loans owed to you, 86, 90,  94

Local loan assistance programs, 74,     196

Local trends, 34

Local zoning laws,  110

Location of business, 28–29,    200

Logos,  165

Losses,     128

M

Machine shops, 23

Macintosh computers, 205–206