Outlining Home Based Business Equipment Needs
Outlining Home Business Equipment Needs
In this section of the home business plan, list what equipment your business will need and whether you currently own or must purchase that equipment. Many home businesses require a computer, printer, fax machine, business phone line, and office supplies, as well as letterhead (including envelopes) and business cards. Your business might have other equipment needs, as well. Also in this section, describe the necessary supplies you’ll use in your business.
Imagine the complete cycle of meeting your ideal customer, convincing him to hire you, performing work for him, and being paid. What supplies do you need at each step? What about software? Beyond word processing and spreadsheets, you will probably need software to store and manage client contact information, invoices, and orders. You might also need special software to perform the services you offer, such as database, graphic design, and/or presentation software.
Defining Relationships with Outside Vendors Finally, within this section, answer the question, “What arrangements have been/need to be made with other businesses in order to provide the product(s) and/or service(s) offered by the business?”
Particularly if you offer “one-stop” shopping, you might need to subcontract with other businesses. For instance, if you are a writer and offer finished newsletters, you will need to work closely with a printer. Have you made that connection? Talk with any potential subcontractors and discuss how you will do business. Will you need to advance them a deposit when work is ordered, or will they bill for their services? Will you include the cost of their services on your invoice to the end client, or will they send a bill to the end customer separately? Come to a formal, written agreement, involving an attorney to finalize the contract.
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