Your business plan should be a written document that provides a detailed overview of your business and covers the following areas:
- A concise overview of your plans for the business, including a clear business description.
- A description of your business objectives and how you plan to achieve them.
- Target customers.
- Market research.
- Competitor analysis.
- Details of the key personnel within your business, including management structure and future resources required.
- Financial projections.
- Sales forecast.
- Pricing strategy.
- Details of your product or service and your unique selling point.
- Details of your target markets and your marketing strategy and plan.
- Information on your proposed operating practices and production methods.
- Details of how much finance you want and in what form, including potential investors (if you have some).
A business plan should not be set in stone but should be amended as your business grows or as market trends change.