- Detail your production process – Be Specific
- Describe how your product or service will be made from start to finish.
- Identify problems that may occur with your process.
- Identify all the laws and regulations within your industry and explain the steps you have already taken to comply with these laws.
- Provide the names of all of your suppliers, the arrangements you have with them, and a description of…
- Prices, terms, conditions.
- Don’t forget to include a list of back up suppliers. – if applicable
- Describe the layout of your facility (diagrams help).
- Examine the size of your location.
- Specify the equipment you need and why.
- Include a list of equipment already owned and that which needs to be bought.
- Make a list of your assets – Land, building, inventory, furniture, vehicles, etc. Describe the worth of each asset.
- Determine the levels of inventory you need and why?
- How will you keep track of inventory?
- How long does it take to get the inventory you need?
- Clarify what quality control standards have been developed.
- What are you going to do to ensure that your product meets your quality standards EVERY TIME?
- Consider what are some of your business’s potential “Risks.” How are you going to do to prevent them?
- Determine how long it takes to produce your product or service.
- Consider whether or not you need to do any price testing, product testing, or prototyping. This is where it is explained.
Inventory-a company’s merchandise, raw materials, and finished and unfinished products which have not yet been sold
Prototype-a single working sample of a product
Check out www.canadabusiness.gc.ca
The Canadian Federation of Independent Business is a major source of information about issues affecting entrepreneurs; see www.cfib.ca