It explains what the market opportunity is, what makes your business special and how you will make it a success.
A business plan is a written document that describes in detail how a business—usually a new one—is going to achieve its goals.
Other factors that may go into this section include production and manufacturing processes, any patents the company may have, as well as proprietary technology.
Any information about research and development (R&D) can also be included here.
Business plans, even among competitors in the same industry, are rarely identical.
But they all tend to have the same elements, including an executive summary of the business and a detailed description of the business, its services and/or products.
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Your business plan outlines what your business does and what you are trying to achieve.
Financial planning: In order to attract the party reading the business plan, the company should include any financial planning and/or projections.
Financial statements, balance sheets, and other financial information may be included for already-established businesses.