Business plan business description
James/ stone/ getty g your orating a canadian ss letter d november 24, company description section of your business plan is typically the second section, coming after the executive summary. The company description outlines vital details about your company, such as where you are located, how large the company is, what you do and what you hope to company description of your business plan describes the vision and direction of the company so potential lenders and partners can develop an accurate impression about who you e of a company descriptionfor an example of a company description, see terra engineering company should a company description in a business plan include? Exact elements included in your company description can vary, but here is a list of some of the most important parts to consider:company name – the official name of your business as registered in the state where you do of business structure – sole proprietorship, llc, partnership or hip/management team – names of the key people behind the on – where is the company headquartered? History – when was the business started, what inspired you to start the business, what need does your company fulfill? Statement – a clear statement that represents the purpose of your ts/services and target market – a brief overview of what you plan to sell and to ives - an outline of what you want to accomplish in the immediate future based on the data in the rest of the business plan as well future growth statement – a statement about how you envision the future of the for writing your company descriptionhere are a few tips for writing a comprehensive company description in your business plan that answers all of the readers' questions about who you are, what you do and why you do with an elevator pitch - begin the company description section with a paragraph that captures all of the vital information about your company. Use the same thought process for your introductory with high-level - some of the information in your company description will be included in other sections of your business plan. For these parts, provide only a high-level overview and leave all of the specific details for the related your passion - let your passion and excitement show in the company description section as you explain why you started the company and what you hope to accomplish.
![](https://i.ytimg.com/vi/kzYMrL9T9AI/mqdefault.jpg)
Business description in a business plan
Your excitement should show in the tone of your writing, and your aim should be to get the reader interested in reading the rest of the business a length check - when you're writing about the passion and excitement that led you to start your company, it can be easy to get carried away and use more words than necessary to get your point across. Once you've drafted your company description, go back and cut out any unnecessary parts or duplicate information to make it clear and it proofread - ask someone who hasn't seen various drafts of the company description to review it for typos, grammatical errors or flow problems that could hurt the impact it has on the this comprehensive outline to write your business this template to write a simple business to write a marketing to write the market analysis section of a business 's included in the industry section of a business plan? Simple steps to writing a business management summary section of a business to write a meaningful mission 7 most common business plan to write the executive summary for a business forecasting for small business owners. To prepare an investor-ready business strong businesses start with a solid business james/ stone/ getty g your orating a canadian ss letter d november 24, company description section of your business plan is typically the second section, coming after the executive summary. To prepare an investor-ready business strong businesses start with a solid business do not have javascript enabled on this browser. S mission your vision vision statement describes your practice's plan for or views of the future. Your vision statement describes what success will look like for your to write a great business vision vision 's vision statement: making effective communication, a human right, accessible and achievable for be your practice's goals and do you want your practice to be (goals)?
![](https://i.ytimg.com/vi/kwCTb4cv-B8/mqdefault.jpg)
Business description in business plan
Example, you want to be the number one slp practice in your area for adult singers with voice disorders; the most sought after slp practice by local early intervention agencies, do you plan to achieve those goals (objectives)? To setting business goals and g smart management be the history of your is the work history of the key managers/partners in the practice? 1997-2017 american speech-language-hearing location & nations g a business ity economic localbc localbc localbc a business ial to: home > doing business > business n 2 - business description. It covers areas such as the type of your business, your business location, the products and services you are selling your customers, how you will make your customers want to buy from you, who your competition is, etc. This is where you explain your plans for today and areas of expansion for tomorrow. This section explains your business and answers many basic 4 vision purpose of the vision statement is to establish a long term, clear and compelling statement that serves to unite, challenge and stretch your and insert a vision statement for your business that describes its purpose and competitive position and also captures the values, behaviours, standards and/or culture of your 5 business structure. A business owned, managed and controlled by one rship - a business where two or more people share d company - a company that is legally separate from the owners.
![](https://i.ytimg.com/vi/Fqch5OrUPvA/mqdefault.jpg)
Consider if you are starting a brand new business or taking over of an existing business? Consider if your business address, will the business be home based, mobile, storefront, other, or a combination. You will also need to consider if this is a manufacturing business, a retail store, or a service business. A business may cover several of these areas, such as a manufacturer who sells direct to consumers. If this is the case for you will need to discuss all that a paragraph discussing the structure of your business. The reader will want to know basic information about your skills, ability and credentials to run the business. This is where you identify and discuss any weaknesses you may have and your plans for overcoming them.
![](https://i.ytimg.com/vi/PDWvcsTloJo/mqdefault.jpg)
An effective entrepreneur knows where they are weak and has plans for compensating for those weaknesses. Insert paragraph describing your skills, abilities and credentials that enable you to operate the business. Your business may focus on one type of product or service, or it may offer several different kinds. It is crucial that you have a clear understanding of the different kinds of products you offer (or plan to offer) because this will help you identify who your customers are and how you will forecast your sales. You may want to promote each area of your business in a different way from the others, since the advertising that reaches one market may not reach others. Appendix any exhibits such as drawings or photographs of the product to be the right column identify the units in which you plan to sell your product or services ie: per item, per package, per hour, per session, per 8 the market er the geography of where your customers live and focus on your main market areas. The better you can describe your customers the better you will be able to plan how you are going to sell, produce and advertise your product or service.
![](https://i.ytimg.com/vi/WQ61nWFdno4/mqdefault.jpg)
This is where you discuss the industry of your business at large (do not discuss your business in this part). One of the main keys to your success will be in establishing a market niche for your business. Your customers will look to you to have strong knowledge about your business and establishing trust will help you to retain your customers. Insert a paragraph that discuss the name of your business and why you chose the name. Your promotion strategy is where you promote your products/services and your business, trying to create a perception of value among your customers. This could include strategies such as customer service, discounts, special sales, charities/causes your business may support, and advertising. Include the strategies you will use and discuss the methods to achieve the strategies include any print advertisements, business cards, rack cards etc.
![](https://i.ytimg.com/vi/zlrb_X6fYZ0/mqdefault.jpg)
Your products are the same price as your competitors, do you have other plans to set yourself apart from the rest? It can be crucial for retail sales and consumer services, along with some business-oriented services. Location is not crucial for all businesses - a wide range of businesses are run from home. Distribution channels can also play a very important roll if your business is a manufacturer or a wholesaler. If you have a storefront location insert a paragraph discussing where your business will be located, why you chose the location and how your products or services will be delivered or distributed to your customer. If your business is home based and you do not distribute products you can delete this skills and those of your advisors and key employees will play a vital part in your success or failure. All businesses require skills in organization, sales, customer relations, crisis management, marketing and technical areas.
![](https://i.ytimg.com/vi/coHfPvh8z2k/mqdefault.jpg)
Be sure to research and learn relevant employment standards legislation and business contract 17 employee requirements. If you are planning to hire staff in your first year of business, insert a brief paragraph and complete the provided chart. If you are not planning to hire staff delete this 18 independent er if you will you need to contract an independent business to move or delivery your product or provide other services related to your product or services. This is where you outline who will provide the professional services required for your business operations. Add others if operating plan will outline all the functions in your business that make your product/service er the following about facilities:What facilities do you require to provide your service? If you are not needing equipment delete this 22 products and will need products and supplies for the operations of your business. If your products or equipment can become outdated quickly, you need to be aware of this and make plans accordingly.
![](https://i.ytimg.com/vi/FIoGLHT4wGE/mqdefault.jpg)
If this not relevant to your business delete this tions and sses are affected by many regulations, and these cannot be ignored. Consider and the following:You will require a current business license from the local government? Your business is a sole proprietorship operating under your own name you must register the business name. You have employees you will require an employer registration number from revenue may require a worksafebc number and you will need to know how much will the premiums will regulations may apply to your business, know how your business will be you have a business like a restaurant or a day care there may be special licenses that are required for your business, know what is required for your business. Insert a paragraph describing your business requirements for licensing and other nces – you will need business liability and business vehicle what types of insurance will you need? These may be things like a new competitor entering the market place, a change in regulations, or a key supplier going out of business. Consider what strategies you will use to mitigate or reduce the impact the risk may have on your business.
![](https://i.ytimg.com/vi/6bwH164ShNI/mqdefault.jpg)
Complete the provided chart using a minimum of 3 identified contact us email us our location site map our facebook ted by government of canada through western economic diversification updated: june 11, ed by community futures stuart ss reneur live ise 500 ss opportunities iption on the next to articles to add them to your what it takes to launch, sustain and grow a michelle readers of your business plan know exactly what type of business you're business description usually begins with a short description of the industry. You should also provide information on all the various markets within the industry, including any new products or developments that will benefit or adversely affect your business. This is important if you're seeking funding; the investor will want to know just how dependable your information is, and won't risk money on assumptions or describing your business, the first thing you need to concentrate on is its structure. State this right away in the description, along with whether the business is new or already addition to structure, legal form should be reiterated once again. Detail whether the business is a sole proprietorship, partnership or corporation, who its principals are, and what they will bring to the should also mention who you will sell to, how the product will be distributed, and the business's support systems. Support may come in the form of advertising, promotions, and customer you've described the business, you need to describe the products or services you intend to market. The product description statement should be complete enough to give the reader a clear idea of your intentions.
![](https://i.ytimg.com/vi/waZojpDfedU/mqdefault.jpg)
It can be a patented product or a trade secret like kentucky fried chicken's specific in showing how you will give your business a competitive edge. For example, your business will be better because you will supply a full line of products; competitor a doesn't have a full line. Answer that question for yourself, and then convey that answer to others in the business concept section. Just explain the factors you think will make it successful, like the following: it's a well-organized business, it will have state-of-the-art equipment, its location is exceptional, the market is ready for it, and it's a dynamite product at a fair you're using your business plan as a document for financial purposes, explain why the added equity or debt money is going to make your business more profitable. Show how you will expand your business or be able to create something by using that money. A potential lender is going to want to know how successful you're going to be in this particular business. Give the reader an idea of the experience of the other key people in the business.
![](https://i.ytimg.com/vi/AM_5waErqjk/mqdefault.jpg)
They will want to know what suppliers or experts you've spoken to about your business and their response to your idea. They may even ask you to clarify your choice of location or reasons for selling this particular business description can be a few paragraphs in length to a few pages, depending on the complexity of your plan. If your plan is not too complicated, keep your business description short, describing the industry in one paragraph, the product in another, and the business and its success factors in three or four paragraphs that will end the statement. While you may need to have a lengthy business description in some cases, it is our opinion that a short statement conveys the required information in a much more effective manner. It doesn't attempt to hold the reader's attention for an extended period of time, and this is important since there will be other plans that the investor will need to read as well. If the business description is long and drawn-out, you will lose the reader's attention, and possibly any chance of receiving the necessary funding for the ad will close in 15 seconds...
![](https://i.ytimg.com/vi/QwlClWaR7DI/mqdefault.jpg)