Explain brief overview of the market for your products

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Reference no: EM131237137

Business Plan Format (Outline)

Please note that the business plan outline below follows the textbook topics, but has been changed with some sections from the textbook deleted and a grading point system added to the remaining sections.

See the following for more specific information.

- Elements of a Business Plan - pp. 164-173,
- Sample Business Plan Outline - pp. 207-210, and
- Example of Excellent Business Plan - pp. 652-673,The Daily Perc Business Plan.

Although every company's business plan will be unique, reflecting its individual circumstances, certain elements are universal. The following outline summarizes these major elements and components:

I. Executive Summary (not to exceed two pages)

A. Company name, address, and phone number
B. Name(s), addresses, and phone number(s) of all key people
C. Brief description of the business, its products and services, and the customer problems they solve
D. Brief overview of the market for your products and services
E. Brief overview of the strategies that will make your firm a success

II. Vision and Mission statement

A. Entrepreneur's vision for the company
B. "What business are we in?"
C. Values and principles on which the business stands
D. What makes the business unique? What is the source of its competitive advantage?

III.Business and Industry Profile

A. Industry Analysis

1. Industry background and overview
2. Significant trends
3. Growth rate
4. Key success factors in the industry

B. Outlook for the future

C. Stage of growth (start-up, growth, maturity)

D. Company goals and objectives

1. Operational
2. Financial
3. Other

IV. Business Strategy

A. Desired image and position in market
B. SWOT analysis

1. Strengths
2. Weaknesses
3. Opportunities
4. Threats
C. Competitive strategy

1. Cost-leadership
2. Differentiation
3. Focus

V. Company Products and Services

A. Description

1. Product or service features
2. Customer benefits
3. Warranties and guarantees
4. Unique Selling Proposition (USP)

B. Patent or trademark protection

C. Description of production process (if applicable)

1. Raw materials
2. Costs
3. Key suppliers

D. Future product or service offerings

VI. Marketing Strategy

A. Target market

1. Complete demographic profile
2. Other significant customer characteristics

B. Customers' motivation to buy

C. Market size and trends

1. How large is the market?

2. Is it growing or shrinking? How fast?

D. Advertising and promotion

1. Media used- reader, viewer, listener profiles
2. Media costs
3. Frequency of usage
4. Plans for generating publicity

E. Pricing

1. Cost structure

a. Fixed
b. Variable

2. Desired image in market

3. Comparison against competitors' prices

F. Distribution strategy

1. Channels of distribution used
2. Sales techniques and incentives

VII. Location and Layout

A. Location

1. Demographic analysis of location vs. target customer profile
2. Traffic count
3. Lease/ Rental rates
4. Labor needs and supply
5. Wage rates

B. Layout

1. Size requirements
2. Americans with Disabilities compliance
3. Ergonomic issues
4. Layout plan (suitable for an appendix)

VIII. Competitor Analysis

A. Existing competitors

1. Who are they? Create a competitive profile matrix.
2. Strengths
3. Weaknesses

B. Potential competitors: Companies that might enter the market

1. Who are they?
2. Impact on your business if they enter

IX. Plan of Operation

A. Form of ownership chosen and reasoning
B. Company structure (organization chart)
C. Decision making authority
D. Compensation and benefits packages

X. Financial Forecasts

A. Financial statements

1. Income statement
2. Balance sheet
3. Cash flow statement

B. Break- even analysis

C. Ratio analysis with comparison to industry standards (most applicable to existing businesses)

Source: Essentials of Entrepreneurship & Small Business Management, N. Scarborough, 8th. Edition, 2016, Pearson Prentice Hall Publishing Company, NJ.

Reference no: EM131237137

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