If you are planning to get an EB 5 business visa to do business in the USA, then you should write a detailed business plan. The business plan is the most vital document of your EB 5 visa application process.
So, let us check out these essential tips to write a good business plan for doing business in the USA.
Keep things simple
Make sure your plan is simple and easy to grasp. Keeping things simple can be an issue, especially if you have a complicated business plan or model.
You may include some industry jargon into your plan, as you can understand them. But, investors, banks, and immigration officials may find it difficult to make sense of the technical terms. It may make your business plan look tricky and difficult to understand for an outsider.
Hence, keep the plan document as easy as you can, so that more and more people can understand what you have to offer, which will enhance your chances of a successful visa application procedure.
Structure it well
In most cases, the business plan is the primary document that immigration officials, banks, or investors would look at to determine the status of your visa application or to give you a loan or to invest in your business. You must take into account that your reader is not necessarily a businessman or a learned business professional.
So, make it a point to keep things simple, organized, and structured so that the reader is engaged in your business plan and continues reading without any abrupt halt. The more engaging your plan is, the better your chances are of an effective EB5 investor visa USA application.
After organizing the flow of the document, use an illustrative title and proper subheadings. This way, the reader can shift to the part which interests them. Keep in mind that no one would read each page of the business plan. Rather, they will only concentrate on what they wish to know.
Therefore, begin your plan with a good outline about how the business plan will look, and then, begin filling out the inside sections. If your plan works out to be lengthy, then add a content table in the front to make navigation easier for the reader.
Keep your reader in mind while writing the plan. Your readers, such as immigration officials, get many business applications in a day. And hence, they will only concentrate on what is important, followed by what is necessary. They may only read about the information they wish to seek.
Key components of a business plan
According to any expert US business immigration attorney, an ideal business plan should contain all the key components as mentioned below:
The business description:It should include a brief description of the business followed by its short history, mainly focusing on the ownership structure. Focus on answering ‘who you are’, ‘what you do’ and ‘where you wish to go in the future’.
Mission statement:Your mission statement should lay the foundation for your ‘brand’. So, write it in a way that describes what purpose the company wishes to serve its clients or customers, and how the company wishes to grow and be remembered in the long run.
Milestone and goals:List at least five long-term objectives or goals that you wish to achieve in the given period.
Research and market analysis:This is where you can show your expertise in your business by explaining your knowledge about the industry. Display your knowledge about the competition and how you plan to face it, your target market, and how you plan to total it, the obstacles you will face, and how you plan to overcome them.
Your USP:You must emphasize on describing how your service or product is unique from the rest and how they can make a difference in the market.
A detailed financial plan:A detailed financial plan is vital for every business. So, you must provide desirable space in your business plan to elaborate on your financial planning in detail. The following key points should be mentioned in your financial plan:
❖ Cost of start-up
❖ Expense projections with relevant assumptions
❖ Revenue projections with relevant assumptions
❖ Balance sheet forecasts for five years
❖ Cash flow forecasts for five years
❖ Source of funds
❖ Other relevant information
Personnel planning:Describe your key employees and provide details of your staff like their special knowledge, their skills, and who will work for you in the US.
Other relevant sections:Every business has a distinct business plan. No two plans can be the same. Therefore, include relevant points that will add value and show proper insight into your business plan.
Some may read your business plan closely, while others may simply focus on your Executive Summary to seek all the information they desire. Therefore, make it a point to write this part in the very end, and spend the maximum time on writing this section in comparison to your entire business plan.
Ideally, your Executive Summary must not be greater than two pages. In fact, the best Executive Summary is one that is only one-page long.
Remember, the Executive Summary is your entire business plan, in brief, so don’t focus on reinventing anything or adding abundant information. Executive Summary is a vital part of the business plan document, so spend significant time in creating a worthy Executive Summary.
These vital tips will certainly help you carve out a niche in creating a perfect business plan for your EB 5 investor visa USA application.
If you are searching for an expert US business immigration attorney, feel free to visit US Immigration Advisor today.