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The model is a “summary business plan” which is typical for companies in

the early stages of development. It should include enough information to convince potential investors that you

have done your homework and understand the market. Your instructor will share a guide on how to write an

effective Business Plan will be shared by your instructor. The plan should include the following sections:

1. Executive summary

2. Business environment

3. Products and/or services

4. Market Analysis

5. Competition

6. Marketing plan

7. Management team and organization

8. Business resources

9. Financial plan/data

B. Company Description and Business Environment: Here you have a complete and accurate overview of your industry. You should include the mission statement, and the business type, legal structure, name, and location. You should have explanations for each of these.

C. Products and/or services: Include a description of the product/service, why it is needed and what makes it unique.  Describe the company’s position and pricing strategy.

D. Industry Overview and Market Analysis: Include your “Customer profile(s)”:

•            Who are they;

•            Where are they;

•            What do they need/want; and

•            Where do they currently buy what they need/want?

E. Competition: Consider your competition. What are their strengths and weaknesses? Include research on labor availability. Finally, estimate sales based on analysis of competitors.

F. Marketing plan: In this section, describe how you will get potential customers to buy your product. Develop a promotional strategy that would help increase sales. Describe what your advertisements look like. Define your channel of distribution. Research various advertising mediums. Select two mediums for your business and explain your selection.