Continuation of Series 1
EXECUTIVE SUMMARY
- Write this section last
- 2pages or fewer
- Include everything you cover in a 5 minute interview
- What will your products/services be?
- Who will your customers be?
- Who are the owners?
- What does the future hold for the business?
- State how much investment cost is required. Specify the loans required and what it will be used for.
- What is the gross and net profit?
- State clearly, how much you want as loan, how you are going to use it and how the money will make the business more profitable, thereby ensuring repayment.
DESCRIPTION OF THE BUSINESS
- State the business type: Legal form of ownership and why?
- Location
- Products or services
- Describe your business: is it a growth enterprise or infant?
- State very briefly whom you will market your products
- State your mission and vision statements followed by the business goals and objectives.
- Value proposition: Describe your most important business strengths and core competencies
- Critical success factor of the business: What factors will make your business succeed? What do you think your competitive strengths will be? What background experience, skills do you bring in this new or existing business?\
- Overview of the industry: What changes do you forsee in the industry line of your business?
- Potential Challenges
- Current status of the business: History, performance, turn over per year
- Contribution to local and national economy
MARKETING PLAN
- Product/Service
- Place
- Price
- Promotion
- Describe what you are selling or what you intend to sell
- Explain why customers will buy your product or service
- What need does it fulfill ?
- Describe the features and the benefits
- Product/service delivery strategy
- The opportunity
- Target Market: who are your perceived customer groups or niche market? location, identification, market share?
- Outline the research that you have undertaken-primary and secondary research are both important
- Summarize your information in tables or graphs
- You need to demonstrate that a market exist for your product or service
- What is the overall size of the market?
- Estimate likely demand for your product or service and justify this estimate
- What competition is there?
- How many competitors will you have?
- Is there likely to be further competition in the future?
- Explain why your product is going to be preferable to those of your competitors
- Competitors' Analysis presented in a table
- How will your product or service be sold to customers?- directly or via agent (wholesalers or retailers)
- How will the product be transported to its point of sale?
- Can your business be reached by customers conveniently?
- Does it give the right image?
- Explain why you have chosen the site from which you intend to operate
- Pricing method
- The price must cover all your costs and provide a profit
- Explain how you reached your decision on price
- Prevailing market price very imperative
- Estimate your sales turn over based on the above and present in table (12months)
- Price= cost price + profit margin
- Sales method
- Distribution
- Explain your promotional strategies
- How do you intend to break into the market and let customers know you exist?
- Explain how you will promote what you offer e.g advertising, direct mails, door-to-door, leaflets, etc
TO BE CONTINUED IN SERIES(3) THREE
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