Your company description should also discuss how your business will stand out from others in the industry and how the products and services you’re providing will be helpful to your target audience.
Ideally, your market analysis will show that you know the ins and outs of the industry and the specific market you’re planning to enter.
If you want to, you can create a diagram that maps out your chain of command.
Don’t forget to indicate whether your business will operate as a partnership, a sole proprietorship or a business with a different ownership structure.
Since it’s meant to highlight what you intend to discuss in the rest of the plan, the Small Business Administration suggests that you write this section last. It reveals the company’s mission statement, along with a short description of its products and services.
It might also be a good idea to briefly explain why you’re starting your company and include details about your experience in the industry you’re entering.Your executive summary should appear first in your business plan.It should summarize what you expect your business to accomplish.The next section that should appear in your business plan is a company description.It’s best to include key information about your business, your goals and the customers you plan to serve.But there are key components that every good plan needs to have, and it’s always a good idea to provide a clear and accurate summary of your business goals in your business plan.Update: If you’re looking for added professional advice to give your business an edge, check out Smart Asset’s Smart Advisor matching tool to get paired with a financial expert who can strategize with you based on your particular needs.In the final section of your business plan, you’ll reveal the financial goals and expectations that you’ve set based on market research.You’ll report your anticipated revenue for the first 12 months and your annual projected earnings for the second, third, fourth and fifth years of business.That’s the most important question you’ll answer when you discuss your sales strategy. It’s a good idea to throw in the number of sales reps you’re planning to hire and how you’ll go about finding them and bringing them on board. If you need funding, you can devote an entire section to talking about the amount of money you need and how you plan to use the capital you’re trying to raise.If you’ll need extra cash in a year or two to complete a certain project, that’s something that’s important to disclose.