What does this part of the Business Plan deal with?

This part of the business plan for a mortgage broker business is where the business owner gets an opportunity to tell the reader about how the business came into existence. In the case of a new business this may be a small section but in the case of an established businesses that may be looking to grow, this section can be a very important section of the plan and we highly recommend that you take the time to write out all you can about your mortgage broker business since it's inception.

My mortgage broker business is completely new - what should I be writing about?

In the case of new, we recommend at the very least you take some time to write out how the idea for a mortgage broker business came into existence and who the major players were that contributed to getting the ball rolling and making the business take roots. In the event your business is still not formed but you are looking to get the big pieces of the puzzle together, you must take some time to explain how and why you came to the conclusion that an mortgage broker business is a good idea for you at this time in your market as in the case of Real Estate Funding Solutions in Rochester, New York. While you will be discussing the details of the target market like Monroe County in the case of Real Estate Funding Solutions in later sections of the business plan, the history section of the plan is a great opportunity for you to put down a very quick summary of the why and what you are trying to accomplish.

What if I am buying an existing mortgage broker business?

In the event you are buying a new mortgage broker business you are buying its existing goodwill and that means that you expect the most of the existing customers of the business will stay with you and will keep on giving their business to you even after you have taken over from the existing owner. It is very important in these circumstances to take some time and give the reader of the business plan some history of the mortgage broker business that you are purchasing. Many small business owners do not pay much attention to this area of the plan and miss out an excellent opportunity for telling the story of the business that they are buying. You can be sure that potential partners and business loan lenders will be interested in finding out just how you plan to keep on maintaining the goodwill and if there is a plan for a steady transition between the existing owner of the mortgage broker business and yourself.

Just like in the case of Real Estate Funding Solutions operating in Rochester, New York, local banks, lenders and potential partners will be interested in finding out just how long the existing business that you are buying has been around and what kind of goodwill it has amassed from its target market. For example if you were buying Real Estate Funding Solutions located in Monroe County then banks lending out small business loans in the Monroe County area would be interested in finding out just how long Real Estate Funding Solutions has been doing business in Monroe County and they would turn to this section of the business plan for a mortgage broker business to get their answers.

Quick Links:

1. Go to the Corresponding Business Plan section for this industry.