While Business Plans may vary depending on the size and purpose of a business, they typically
include the following information.
This portion of the plan introduces and summarizes your
company. Generally, it includes an overview of your company’s management structure (sole
proprietorship, partnership, corporation, Limited Liability Company, etc.), products or
services, company goals, current finances, and marketing strategies.
In short, your executive summary pitches your proposal to potential investors.
Business Description and Mission Statement
This is a brief rundown of your
business’s history, ownership, and purpose. A mission statement, also called a vision statement,
outlines who your target market and primary customers are, the area you serve (local, national,
or international), and the products and/or services that your business produces.
Product or Service
This section describes the product or service that your
business sells. The product description should highlight its unique features, any patents you
may have, and ideas for future products that you want to develop.
Your marketing strategy is how you plan to get your product
or service in front of customers. This is where you can include advertising and promotional
ideas, as well as your plan for selling your product or service (e.g. in a brick-and-mortar
store or ecommerce website).
This section describes your competition and how you intend
to challenge their current strategies. When you analyze potential competitors, consider things
like their establishment in the market you are targeting and how you can distinguish your
company from them in terms of pricing, product or service quality, and customer support.
SWOT is an acronym for “Strengths, Weaknesses, Opportunities, and
Threats.” A SWOT analysis evaluates these specific aspects of your business and helps you
identify what your business is (or will be) good at and where you can improve. A SWOT analysis
is a useful tool when deciding if your business is worth starting, or if you need to make
significant changes to your overall business strategy.
An operations overview provides a glimpse into the daily
operations of your business, including the management and staffing structure, human resources
plan, physical operational facility, and production methods (such as quotas or manufacturing
Your financial plan may include your company’s income (profit
and loss) statements. It can also encompass your capital requirements if you are pitching your
ideas to investors. In that case, describe the investment amount you require and how you plan to
repay this capital in a repayment plan.