Competition - For each of your primary competitors, discuss:.Number of potential customers within your market area.Your market area (Example: 20 mile radius of Towson).What their demographic makeup is (age, sex, profession, etc.).Who your customers are (individuals, small businesses, etc.).Lifecycle stage of the industry (infancy, growth, decline).The Industry: (Tip: Trade associations are great sources of industry information.).Market Analysis - Demonstrate that you are knowledgeable about your business' environment: A list of other products/services and any special or unique featuresĤ.Which products/services are the most profitable.Percentage of total gross sales that the products/services comprises.Price structure of the products/services.A short description of products/services.Products/Services Offered - Describes the products and/or services that your business provides, written so that a lay person can easily understand: Description of business location and hours of operationģ.What differentiates your business from you competitors.The business structure (sole-proprietor, partnership, limited liability, corporation).The current status of the business (start-up, existing, acquisition).The Business - Describes your business and the industry you are in: The purpose for which the money will be usedĢ.The amount of equity (money) already invested and collateral offered.The amount and type of financing required.A very short summary of the owner’s experience in the industry.Executive Summary - A one page summary of your business plan: Yet, keep your business plan short and to the point.įollowing is a list of the typical sections in a business plan.ġ. You may one day want to provide it to a lender, investor, partner or even employee. When writing your business plan, you should consider that it may be read and used by parties that know nothing about your business and industry. Those become concrete with dates, deadlines, task assignments, budgets, and forecasts. It should indicate what your goals are and the steps the organization is taking to move along the path toward the goals. Your business plan sets down all the obvious components, such as the strategy, management, basic numbers, market focus, business offerings, competition, and so forth.
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