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Our opinions are our own. Here is a list of our partners and here's how we make money. A business plan can make or break a small business. A business the small business plan typically looks out over three to five years, detailing all of your goals and how you plan to achieve them. This is the first page of your business plan. It should include a mission statement, which explains the main focus of your business, as well as a brief description of the products or services offered, basic information such as ownership structure, and a summary of your plans.
Overview: What is a small business plan?
This section provides a snapshot of your small business. It contains important information including its registered name, address of any physical locations, names of key people in the the small business plan, history of the company, nature of the business and more details about products or services the small business plan it offers or will offer.
The key is to provide a clear explanation of smaol opportunity presented and how the loan or investment will grow your company. In this section, you can detail the products or services you offer or plan to offer.
Free Business Plan Template
It should include the following:. An explanation of how your product or service works. The pricing model for your product or service. Your sales and distribution strategy. Why your product or service is better than what the competition is offering.
You can also discuss current or pending trademarks and patents associated the small business plan your product or service. This is simply an explanation of what your marketing strategy is and how you will execute it. Here, you can address how you plan to persuade customers to buy your products or services, or how you will develop customer loyalty that will lead to repeat business.
This section can also highlight the strengths the small business plan your business and focus on what sets your business apart from your competition. You may also include ratios that highlight the financial health of your business, such as:. Net profit margin: the percentage of revenue you keep as net income.
Current ratio: the measurement of your liquidity and ability to repay debts.]