By on March 03 2018 12:09:43
Your business plan should provide certain details about your idea, including your intended market and the industry in general. Using a business plan template will ensure that you don’t overlook any important information.
Operating Plan. The operating plan outlines the physical requirements of your business, such as office, warehouse, or retail space, equipment, inventory and supply needs, labor, etc. For a one-person, home-based consulting business the operating plan will be short and simple, but for a business such as a restaurant or manufacturer that requires custom facilities, supply chains, specialized equipment, and multiple employees, the operating plan needs to be much more detailed.
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.
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?