THINK IT!
It's Easier to Write a Business Plan than You Might Think
Here is a detailed description of what should be in your business plan, You fill in the blanks! Or alternatively download one of our templates, either in word or pdf versions.
Executive Summary
In this section summarize to give your bank/investor a brief and compelling synopsis of your business.
This section should be informative enough that the reader knows who you are, what you’re doing, why you’re doing it, and how much money you need to accomplish your goals.
However, this section should also be short enough that it is an easy read and compelling. How you order this information is up to you, but make sure you hit the key points that are elaborated in later sections.
Keep in mind that your bank lender/investor might only read this section. Try not to exceed one page in length.
Notes:
When summarizing your business, it is important to convey how you are unique or why your product or service is needed. The summary should tell the reader what you want. This is very important. All too often, what the business owner desires is buried on page eight. Clearly state what you’re asking for in the summary.
About Us
This section needs to give a complete understanding of the identity of your company. Who are you? Who owns your company? Where are you located? What is your company history? What spurred the idea of your company?
What is your company philosophy? What are your company goals and objectives?
Business Concept
COMPANY NAME will be a _______________ store focused on serving _________________ in CITY, STATE or AREA. Beyond its products, the Company will also provide __________ and ___________. The store will have a ________ atmosphere, with __________ décor, both inside and out, creating an eye-catching storefront that attracts window shoppers in the area. COMPANY NAME’s products and services are listed below (list products by category).
Our Sevices
This section should be devoted to what services you provide or what products you will be selling. To brainstorm for this section, draw up a list of all your products and services, then figure out what you want to focus on.
Organize this information along with some paragraphs about your priorities (customer service? sales? green building? recreational living? premium pricing?). Anything goes here, it just depends on what your company has to offer.
COMPANY NAME will be the newest ________ store in the area. These products have become increasingly popular in recent years, as people seek greater ___________ in their lives. COMPANY NAME’s products are described in further detail below.
Note:
If your company sells cupcakes, this is a good place to talk about how great cupcakes are. If you sell used clothing, talk about how people like to save money while still looking great.
Go into further detail in these sections. For a cupcake shop, list the different flavors of cupcakes you’ll sell, etc.
This is the part of the plan where you can talk about your neighborhood’s attractions and demographic traits. Mention things like anchor stores, street walk-ability, and income traits.
Our Products
We want you to feel informed and empowered. Below we have outlined in detail what each of our products has to offer:
Note:
List all your products here along with detailed descriptions, benifits etc.
Our Market Strategy
Who is your market? To tackle this section, you need to first identity who your prospective customer is. Male? Female? Old? Young? Everyone? Even if your product or service is relevant for everyone, in order to figure out who your market is, you must first determine who is most likely to purchase your product or service. If you don’t know this off the top of your head, a little research can help. Try reading up in business magazines or pay attention to who’s getting targeted by businesses that have a similar product to your own.
Once you determine who your target market is, you can get concrete data about where they are. For local businesses (especially retail), visit your area’s Chamber of Commerce and consult your local library for information on local demographics. Also, create a profile of how businesses similar to your own have faired in recent years. Consult industry association’s specific to your business or purchase research reports from companies like Marketresearch.com, IDC, Plunkett Research, PricewaterhouseCoopers, and others.
Newspaper and magazine articles that talk about the market for your business are also good resources. As you are creating an overview of this information, be careful not to plagiarize these sources or paste entire articles into this section. Plagiarism is illegal, and can be easily caught in today’s information age. Be sure you cite all facts with footnotes.
Competitive Analysis
Finally, discuss your competition. Analyze their strengths and weaknesses and then talk about your company’s advantages over these competitors.
COMPANY NAME will be located in the ________ neighborhood of CITY, STATE. This area is notable for its _________________. The chart below shows population and demographic statistics for this area.
[INSERT DEMOGRAPHIC CHART HERE]
[INSERT RESEARCH FINDINGS HERE]
COMPANY NAME will target area residents that have the following traits:
(FILL IN AGE)
(FILL IN INCOME)
(FILL IN OTHER TRAITS)
COMPANY NAME will compete with other businesses that sell ________ in the same neighborhood. This includes COMPETITOR 1, COMPETITOR 2 & COMPETITOR 3. The strengths and weaknesses of these competitors are listed below.
Note:
List all your competitors here along with strengths and weaknesses
- Competitor 1 – Strength / Weakness
- Competitor 2- Strength / Weakness
- Competitor 3 – Strength / Weakness
Our Marketing Plan
Your marketing plan is very important because it covers a) how to get your product/service to your customer, and b) how to generate buzz about your company so that people think of you when they think of your product or service.
First, figure out how you can capitalize on the advantages you have over your competitors. These strengths will help you figure out what you want to emphasize in your marketing campaign.
Next, answer the question: What are the best avenues to market my product or service? If you are targeting other businesses, direct sales might be a good idea. If you are targeting the public, figure out what kind of advertising your target market will most likely respond to. Television ads? Magazine displays? Banner ads online? Cold calling? There are literally hundreds of ways to market your product or service. The key is determining what forms of advertising will be the most effective for you.
Go into further detail in these sections by including information about how you will implement each advertising method. Will you hire a PR firm? Will you create your own television commercials? On what stations will you advertise? (Example on next page of what this page would read like).
Note:
Traditional advertising methods include direct sales, television ads, print ads, radio ads, and others. Viral advertising methods include word of mouth, online advertisements, e-mail blasts, and things like brochures that can get passed around.
Would business-to-business (B2B) or business-to-consumer (B2C) advertising methods be best for you? Or both?
This is the part of the plan where you can talk about your neighborhood’s attractions and demographic traits. Mention things like anchor stores, street walk-ability, and income traits.
Management & Founders
In this section, create a profile of the Company’s management and what experience they bring to the table. Add your own text here to support your team of professionals & or experience.
Financials
Where is the money coming from? When? How? What sort of projections should you create and what should you take into consideration?
Downloads
FREE PDF version of the Business Plan or alternativley visit our shop to get the editable Word document.