How does the location and facilities information fit into a business plan for a mortgage broker business?
The answer to this question is farily simple - we need to be able to give the reader of the business plan a very clear understanding of what our business is all about and the first item that comes into play if of course the location and facilities of the business itself. We recommend that you include the exact street address. In the event you have only an online presence and do not yet have office space, you need to mention that in the business plan itself. Even companies whose entire business model is based on the internet have to have some physical location to which mail is delivered. Even if your address is your home office - you need to put that into your business plan. In the event you are looking to expand, you will need to include the prospective addresses of the places where you see yourself opening shop.
What should a business owner like Ryan Armstrong of Real Estate Funding Solutions describe about their facility?
Your description of your mortgage broker business should begin with a physical description of the location. Talk about the size and square footage of the facility and how long it has been around. Talk about the amenities you have on the facility. In the event you have an establishment or own commercial real estate where the regular public will be coming and going, your facility will also have to meet the standards of access for folks with handicaps specified by the Americans with Disability Act (ADA). If you have parking spaces as a part of your facility as many retail businesses do, we recommend that you specify how many spaces are available for your clients and if you do or do not have parking spots for the disabled.
We also recommend that you mention security at your mortgage broker business as applicable. How many cameras do you have installed and how do you secure your locations at night. Also, make sure you mention the amenities that you have on your premises like air-conditioning, climate control and so on. A brief description about your physical location in terms of its proximity to other nearby amenities is also recommended. For example like Real Estate Funding Solutions if you are located in a busy part of town, you should mention that. If you find that your business is close to a police station or fire house - make sure you put that in your description If you happen to be part of a larger strip mall or a string of retail establishments, you are much more likely to attract traffic to your stores than if you have a stand alone establishment. This of course does not apply to all kinds of businesses - major franchise brands like McDonalds and Dunkin Donuts for example have stand alone franchises, but they always tend to be close to a major retail area or on a major roadway.
What if the business has multiple locations or a different back office?
Our advice to you is the same advice we gave Ryan Armstrong of Real Estate Funding Solutions described in this plan. Make sure you put down every location that you have for your business. That includes all warehouses, storage facilities, back offices or shared office spaces. We also recommend that you put in a description of each of these locations. The more information you give to the readers of your business plan, the more comfortable they become with your business. Especially if you have multiple locations - banks and potential partners may view that as a positive sign of your success.
Another important note - make sure that you have insurances policies that cover all these locations. Banks and non-bank lenders are very careful about making sure that their investment in you is secure. One of the most common losses that a small business faces is due to theft, fire or water damage. The more insurance you carry the more secure business loan lenders and potential partners will feel when lending to your business.
The Foundation Grant Directory is a free listing of sources for grants by state. Why not look if there is some free money out there for your business. Hey - you never know!
The Business Loan Application covers every item you will need in your loan package and tells you how to get approved for business loans.
Fire your loan broker and use our Free Business Loans Bank / Lender Directory to find every bank in the country lending to small businesses.