Starting your own business is not for the faint of heart. With a 50% chance of failure, individuals starting a small ...Establishing a franchise business gives you the advantage of working for yourself and at the same time, having access to the resources and know-how of the franchisor.There are several essential elements of a good business plan according to the U. Although this is the first section readers will see, it should be the last section of your business plan written.
Brief description of your company including the nature of your business and factors that will make your business a success.
Include a description of how your product or service will meet a need and any potential clients identified as having that need.
Describe the marketing strategy and how you intend to drive sales.
Include market penetration strategy, growth strategy, distribution strategy and communication strategy.
Details about ownership of company, management and board of directors (if applicable).
Buffet Business Plan - Features Of A Business Plan
Qualifications, experience and education are important to provide readers with an insight as to how these individuals fit into the organizational structure and what they can bring to the table in their designated roles.
Documents which may be included in the appendix include market study details, reference letters, personal and business credit history, patents, permits, contracts and contact information for consultants.
As you can see, writing a business plan requires a commitment of time and resources to ensure all relevant information is present.
Unless there is good reason to deviate from the standard, conforming to the formula is one more thing you can do to establish yourself as an astute business person.
The executive summary is arguably the most important section of the business plan. Many of the people who review your business plan will decide, based solely on the executive summary, whether to continue reading.