9 Sections of a Good Business Plan || Outline of a Business Plan

Outline of a Business Plan

No business will do well without a business plan because it’s in the plan that you can be able to analyse the potential of a business that you are to invest in. Thinking of writing a business plan? Here is a business plan outline, listing the sections in the order in which they will appear in your completed plan with a brief explanation of each section to help you get organized and guide you through the process.

The feasibility study in any business in very important and as such should be taken very seriously. here is the Outline of a Business Plan that must be followed.

Good Business Plan

  1. The Executive Summary.

While appearing first, this section is written last. It summarizes the key elements of the entire business plan. (Executive Summary Example) so take your time to write a concise, short, simple and clear summary of what the whole plan is all about. The executive summary is the first Outline of a Business Plan followed by

  1. The Industry on which the plan is based upon.

Being the second Outline of a Business Plan, An overview of the industry sector that your business is/will be built upon, including industry trends, major players in the industry (Competitors), and estimated industry sales. This section will also include a summary of your business’s place within the industry. (Business Plan Example: Industry Section)

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  1. Market Analysis of your business.

An examination of the primary target market for your product or service (Potential buyers, clients), including the geographic location, demographics, your target market’s needs and how these needs are being met currently.

  1. Competitive Analysis

An investigation of your direct and indirect competitors who have been or are about to enter the business, with an assessment of their competitive advantage and an analysis of how you will overcome any entry barriers to your chosen market. (Taking proper note on how you are going to beat up your existing competition and their strategy).

  1. Marketing Plan

Here you write down a detailed explanation of your sales strategy, pricing plan, proposed advertising and promotion activities, and product or service’s benefits.

  1. Management Plan

Write out the outline of your business’s legal structure and management resources and the model with which your business will adopt, including your internal management team, external management resources, and human resources needs.

  1. Operating Plan

A description of your business’s physical location, facilities and equipment, kinds of employees needed, inventory requirements and suppliers, and any other applicable operating details, such as a description of the manufacturing process.

ALSO READ: How to avoid bankruptcy in your business by being careful with this people.

  1. Financial Plan

A detailed description of your funding requirements, your detailed financial statements, and a financial statement analysis. How your business will run financially.

  1. Appendices and Exhibits

Put in Any other additional information that will help establish the credibility of your business idea, such as marketing studies/survey, other feasibility studies, photographs of your product, and/or contracts or other legal agreements pertinent to your business.

Each article linked above is part of this Writing A Business Plan series and explains how to research and write a particular section of the business plan in detail. The sidebar also lists more resources you may find useful.

 

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