Every business needs to have a written business plan. Although there is a fairly well accepted structure for a business plan format, there are many ways of putting it down on paper. Start your Executive Summary with a brief and concise explanation of what your company does.
This is important regardless of whether you have previous experience in that particular industry. And, when you follow the outline below, you ensure your business plan is in the format that prompts investors and lenders to take action. Likewise, feel free to use my proven business plan template to complete your business plan.
Read everything you can about your industry and talk to your audience. Because of this expectation, investors want to know everything about your business.
If so, detail the types of firms that might be interested in purchasing you and why.
For example, if you operate an Italian restaurant, other Italian restaurants would be direct competitors. For example, do customers care most about speed, quality, location, reliability, comfort, price, value, etc.?
Explain why you care.