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The Business Plan
The student will . . .
Discuss elements needed in a
formal written business plan
What is a business plan?
A document that describes a new
It explains to lenders and investors why
the new business deserves financial
Why make a business plan?
To obtain financing
To serve as a living guide to the business
To provide a start-up blueprint
The Parts of the Business Plan
Executive Summary
Product/Service Plan
Management Team Plan
Industry/Market Analysis
Operational Plan
Organizational Plan
Marketing Plan
Financial Plan
Growth Plan
Executive Summary
A brief recounting of the key points in
business plan
Reader uses it to decide if concept
interests them, then will read on
Should be no longer than two pages
Should include the most important
information from each section of the plan
Persuade reader business will succeed.
Product/Service Plan
Present product or service offered
Nature of business should be clear
Note unique features of product or service
and possible spin-offs (additional
products) when business is established
Management Team Plan
Present your qualifications
Present qualification of any partners you’ll
Analyze the expertise you are missing and
how you will solve that problem
Describe the advisory board that will help
you get started
Industry/Market Analysis
Presents your research into the industry
and market
Analyze your customers, competition, and
Include information about the prospective
location’s geographic, economic, and
demographic data
Operational Plan
All the processes that take place in the
business so that the product or service is
produced and delivered to the customer.
If manufacturing, discuss status of product
How much time and money to get product
ready for the market
Explain distribution plan
Organization Plan
Looks at the people aspect of the business
Discusses management philosophy, legal
form of the company, key management
personnel, and key employment policies
Marketing Plan
How a company makes its customers
aware of its products or services
Includes such features as the market
niche, pricing policy, company image,
marketing tactics used to reach customer,
a media plan, and a marketing budget
Financial Plan
Presents the forecasts for the future of the
Explains the assumptions made when
calculating forecast figures
Information in the form of financial
Shows that the new business will be
financially healthy
Growth Plan
Looks at how the business will expand in
the future
Explains potential for plan to grow over its