Business Description

View the Sample Business Description

  • What business will you be in?
  • What will you do?
  • What will you produce?
  • What service will you provide?

Location

  • Physical Address
  • Description of property, i.e. acreage, buildings and other defining attributes.
  • Proximity to nearby towns
  • Proximity to other “landmark” locations

Products and Services

  • What product or products does your business produce?
  • What service does it provide?
  • This section should be descriptive and explain what is “unique or special” about what you sell.

Size and Scope of Your Current and Planned Business

  • Be descriptive
  • Dollar Sales
  • Volume of sales
  • Customer count
  • Is business new, or existing?
  • If existing, is it stable or growing?

Personnel

  • Who owns the business?
  • Who runs the business?
  • How many employees?
  • Full-time versus Part-time
  • Year-round versus seasonal

Legal Structure

  • Soleproprietor?
  • Partnership?
  • LLC?
  • Corporation?
  • Other/Multiple entities?

Special Attributes of Business

  • Why was this business started?
  • What is special about the business or products?
  • Why should the customer be excited?
  • Why should the reader of this plan be excited?
    (Hint: You want the reader excited if you are trying to get something from them such as a loan)

Customers

  • Who are your customers?
  • Where are they located?
  • Are they single visit or repeat?

Competition

  • Who is your competition?
  • Where are they located?
  • What is the biggest challenge they present?
  • What weakness do they have that you plan to exploit?

Growth Plan

  • What is your expansion plan, if you have one?
  • How fast do you want to grow?
  • Do you plan multiple locations?
  • What is the biggest opportunity for growth?
  • What is the biggest limitation?
Next section: Operations

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