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The resulting document can serve as the blueprint for your business and be supplied to financial institutions or investors if debt or equity financing is needed to get your business off the ground.
Business/Industry Overview contains an overview of the industry and how your business will compete in the sector. Describe the overall nature of the industry, including sales and other statistics. Include trends and demographic, economic, cultural, and governmental influences. Describe your business and how it fits into the industry. Describe the existing competition. Describe what area(s) of the market you will target and what unique, improved or lower cost services you will offer.
Potential business partners need to know how their investment will be used, and ultimately, what it will achieve for the business. In this sense, your business plan is like your ambassador - showing how the various elements of your company are integrated into a vibrant whole
A business plan gives an outline of your business, the market in which it will operate and how it aims to make money - and should answer this question: why will your business succeed when so many others fail?
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