Your company (or someone else's)
Write about an existing company or a new company idea. Be sure to choose one concept.. The following details below include what should be included in each section of the business plan.
Business Plan Sections:
Company Description
For this section, you should describe what differentiates your business from others, and the markets your business serves. The basic description should include: Company Name, Mission statement, Type of business (retail, manufacturing, service), ownership/legal structure, Unique product or service you will offer etc. r:
What differentiates the chosen business from others, and the markets the business serves?
Provide a written company description. Be sure to include all the basic components of a company description.
Market Analysis
For this section, you should describe the strengths and weaknesses of each primary competitor: consider sales, quality, distribution, price, production capabilities, reputation, and products/services. Outline how your product or service stacks up in terms of pricing and identify your competitive advantage.
What are the strengths and weaknesses of each primary competitor in terms of sales, quality, distribution, price, production capabilities, reputation, and products/services?
Does the chosen business have a competitive advantage? Please explain.
Organization & Management
For this section, you should describe the management team: What are the responsibilities and expertise of each manager? What role will they play in managing personnel and resources? For each position, outline the skills and talents that each person posses (or will possess). Create a list of job descriptions for each position on your organizational chart. Briefly outline your hiring and personnel plan.
- What are the responsibilities and expertise of each manager?
- What role will they play in managing personnel and resources?
Be sure to outline the skills and talents that each person posses (or will possess).
Web resource: https://www.sba.gov/content/organization-management
Service or Product Line
For this section, you should begin describing your service or product and then include information about the specific benefits of your product or service - from your customers' perspective. You should also talk about your product or service's ability to meet consumer needs. In addition, explain the production process: For products, describe the stages of production from inception to completion. For a service company, detail the process of delivering the service to customers.
Does the chosen business provide a service or product?
What are the specific benefits of the product or service from the customers' perspective?
How does the product or service meet the consumer needs?
Explain the production process for the service or product.
Web resource: https://www.sba.gov/content/service-or-product-line
Marketing & Sales
For this section, you should define your marketing strategy, include a strategy for building your business (growth strategy), Choices for distribution channels (Channels of distribution strategy), and How are you going to reach your customers (Communication strategy)
How will the chosen business reach their customers?
Provide a written description of the marketing strategy for the chosen business.
Be sure to include all the key components of a marketing strategy.