step by step
October 5, 2021
In this order, you will include the following sections in your business plan.
- Cover Page and Table of Contents
- Cover Page should contain the name of your business and your contact information. If you have a logo, it should go on the cover.
- Executive Summary
- Briefly summarize the entire business plan on a page. Describe the company, your product, and why you started the company. Include your chief competitors and why your product will succeed against them. If relevant, discuss the economic climate vis-à-vis your customers and products.
- Company Description
- The company description should include a mission statement, the company principals, any strategic partners, and your corporate structure.
- Market Plan and Analysis
- An industry overview and outlook
- A competitive analysis of your indirect and direct competitors
- Any differentiation in sector and niche
- Information on your target market
- The company’s marketing strategy and how it will make your company stand out
- Organization and Management
- The organization and management section should itemize your company’s management structure and give insight on the team behind the business. Many business plans provide an organizational chart, a structure description, and salary forecasts.
- If the goal of your business plan is to get funding, it's wise to make sure that your management plan includes an advisory board as a management resource.
- Service or Product
- Business plans often itemize their entire product line with the planned or current pricing structure.
- The service or product section should also include your product/service’s estimated lifecycle, and any research and development completed, in progress or planned.
- It should also include a description of any trademarks, patents, or other intellectual property rights, if applicable.
- Marketing and Sales
- How will customers find out about your products?
- What will your sales channels and methods be?
- What is your pricing strategy?
- What is your growth strategy?
- Financing Analysis
- Income statements
- Cash flow statements
- Capital expenditure budgets
- Balance sheets
- Funding Request
- Your current funding needs.
- Any future funding requirements over the next five years.
- How you intend to use the funds you receive.
- Any strategic future financial plans.
- Principals’ resumes
- Tax returns
- Relevant real estate documents
- Processing flowchart
- Letters of intent to purchase from buyers
- Advertisement and marketing materials
- Relevant training certificates
- Sales forecast
- Personnel plan
- Profit and loss statement
- Balance sheet
Mission Statement: To create and sell quality footwear that customers will find both stylish and functional
Principal Members: Asia Volochuk - owner, president; Ade Obu - co-owner, chief product officer; Joann Smith - head product innovation
Legal Structure: XYZ, inc is an S Corporation, incorporated in Montreal, Canada
Reference: How to write a business plan for funding
Written By Isabelle Ofume