We recommend completing the executive summary last so that you know which sections are most important to emphasize and expand upon. Interested investors often request the executive summary first to determine if they should spend time reading the rest of the plan. In this section, include information about what you need to purchase to start your business and how much it will cost. In the market and industry analysis section, make your case as to why your business will be a success. Market analysis is a deep dive into research that you can use to show that there are sufficient customers who need your business.
The marketing section is where you outline the marketing strategy for your business. The information in this section will vary depending on the type of business you own. For example, some businesses may want to showcase the quality of their interior buildout while others expand into their online marketing strategy. Regardless of the marketing strategies you mention, we recommend including as many visual examples as possible. You may want to include one or two visual marketing materials in this section.
The financial projections are the most important part of any business plan. Unfortunately, they are also the most difficult for business owners to create. In the financial projection section, you should predict how much revenue and expenses will flow through the business during its first three years in operation.
Calculating financial projections can be time-consuming, especially if you have a physical location because you have to research specific costs such as construction, inventory, and utilities. Software can also be a big expense.
Additionally, it can be difficult to predict how much each product or service line will sell month-by-month over the first three years in business. Use software like Biz Miner to obtain yearly startup financials for your industry. The appendix is optional but recommended for a business plan. This is where you will put supporting documentation for your business. Include items like marketing materials, licenses, permits, leases, purchase agreements, and illustrations. With complete sample plans, easy financials, and access anywhere, LivePlan turns your great idea into a great plan for success.
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