Abstract Chad Frank and Kyle Carson or friends who are in their 20s that works for one of the largest package companies in the world. Frank and Carlson felt as though there was more to a job then just sorting out packages so they made the decision to purchase a local auto dealing business called Precision Auto Detailing. What Frank and Carlson plan on doing was to devote the early part of their day to their auto business while maintaining their 6 to 10 shifts at the packaging company. They both invested a total of $6000 to lease the building and buy tools and equipment. The building is located in a high-traffic area and has established a small base of clientele to whom some were local car dealers. Frank and Carlson kept the part-time employees who were already working there and try to earn other car dealers businesses by making a few phone calls. They wanted to provide their customers with top-notch service by picking up the vehicles they cleaned including inspections before they are returned. The price of their service ranged from $100-$250. Because of the service they provided their business grew rapidly and had to purchase new detailing equipment. The majority of the profits made went back into the company but was not enough to sustain their rapid growth.
After running into Carlson he wanted me to explain to him on what he needed to do to get a loan to help finance the growth of their business. In this paper I will explain to Frank and Carlson via e-mail on coming up with a business plan and how to prepare an outline of elements they should include in a business plan. I will also explain to them on what bankers are looking for in a business plan and will offer them advice on what to do when they are ready to present the business plan to the banker.

Frank and Carlson, I am writing you to give you help in understanding other things needed to obtain a loan from a bank. The first thing that you need is a business plan. You need to incorporate on your management. They will want to know how the two of you work as a team and a track record on how profitable your business is. Secondly is the market size. They will want to know the research never done with the competition around him and how they are growing and the growth rates of your business. The third thing a banker is looking for in a business plan is your competitive advantage. What is it that distinguishes you from your competitors? They will also want to know what your strategies are for growth. What are your strategies to expand your business and target new customers? You will also need a financial model. They will want to know your capital investments, working capital and basis for operating your profits. Bankers will want to know what your revenue growth is.
There are many things that are needed when preparing an outline for a business plan. You will need to know what your current situation is and the factors that are the key to your business a success. You will also need to know what your financial situation is, with the overall market is looking like, what the changes in the market is in the consumers you plan on targeting in the market. When it comes to your competitors your outline needs to include or your primary competitors are and what the competitive products and services include. Your outline will also need to include what your competitors’ weaknesses are and their capabilities. When it comes to marketing the two of you will need to outline your marketing strategies, sales tactics, promotions and publicity. A few other important elements to include an outline is starting a balance sheet if you do not have one already, your projections of your profit and losses are and how much you project on the outlook of your cash flow.
What bankers and lenders are looking for in a business plan is how you are securing the funds for your business because you want to convince them that the loan will be repaid according to how detailed the business plan is. They are looking for an entrepreneur with experience and have a background in business instead of working for others. They will also want to know what your income sources are. They will want to see at least two sources of income with one of them being the income the businesses taking and have a secondary source of income that can provide support consistently. Bankers will want to see the research we have done in your business plan which includes the type of service your company provides, the local competition, the success rate to businesses that are similar to yours and the target market. References are also what they are looking for and your equity. One of the most important elements that can help you get a loan from a bank that is not needed in a business plan is if you already have an existing relationship with the bank. The longer the relationship, the better it is.
An important piece of advice that I want to give the two of you before presenting your business plan to a banker is how well prepared the two of you are and practice. Practicing your presentation will allow you to break the nervousness you may have because you will already know what you are going to say. Tell the banker about your qualifications, education and the experience you have in the beginning because it will show the type of person you are and how competent you are as an entrepreneur. One thing that many people like to see done a presentation is pictures. It has to be visually appealing and show the type of research has done the charts and graphs. It will help keep their attention. Make sure that the presentation is as simple as possible but could be understood at the same time. Try to keep your presentation under an hour and have a list of important key elements of your business plan. Do your best to keep from reading from your notes and make eye contact. Most importantly, show enthusiasm and change the tone of your voice throughout your presentation to keep it somewhat entertaining.
If you follow the guidelines the two of you should be able to get a loan from the bank. I wish the two of you good luck and keep me informed on how everything goes. If there is anything that you need from me do not hesitate to shoot me an e-mail or give me a call and I will be glad to help the two of you out in any way I can.
Tony Montana

REFERENCES
Berry, Tim. (Feb. 18, 2009). 8 Factors that Make a Good Business Plan. Retrieved August 6, 2011 from http://timberry.bplans.com/2009/02/some-key-questions-on-business-plans.html
Berry, Tim. (N.D.). A Standard Business Plan Outline. Retrieved August 6, 2011 from http://articles.bplans.com/writing-a-business-plan/a-standard-business-plan-outline/29 http://myphliputil.pearsoncmg.com/student/bp_turban_introec_1/PlanPres.html Berry, Tim. (Nov. 7, 2006). What bankers look for in a business plan... and what you should expect when taking your business plan to a bank. Retrieved August 6, 2011 from http://www.allbusiness.com/business-planning-structures/business-plans/3878953-1.html