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In this section of your business plan, outline who your direct competitors are, and their strengths and weaknesses.
As part of the Red design set, this template enables you to create a set of documents for a coordinated, professional look.
If you’re looking for funding for a new or existing business, you need a business plan.
Section VI - Marketing Plan Your Marketing Plan section has four sub-sections as follows: 10 - Products & Services Here is where you give the details of the products and/or services your company offers. In particular, discuss how your pricing relates to competition. 12 - Promotions Plan Your promotions plan details the tactics you will use to attract new customers.
For example, you might choose radio advertising, or online pay-per-click ads, or press releases, and so on.
6 - Customer Needs In this section of your business plan, specify why customers want or need your products and/or services.
For example, do customers care most about speed, quality, location, reliability, comfort, price, value, etc.?It can also help to convince customers, suppliers and potential employees to support you.This sample business plan template contains detailed step-by-step instructions on how to create a complete business plan.Next, explain why your company is uniquely qualified to succeed. Section II - Company Overview 2 - Company Overview The Company Overview section provides a brief history of your company.For example, does your management team have unique competencies? Here you will answer questions such as when and how your organization was formed, what type of legal entity you are, and accomplishments to date.Download a free business plan template on The Prince’s Trust website.You can also download a free cash flow forecast template or a business plan template on the Start Up Loans website to help you manage your finances. Get detailed information about how to write a business plan on the Start Up Donut website.A business plan helps you to: You’ll need a business plan if you want to secure investment or a loan from a bank.Read about the finance options available for businesses on the Business Finance Guide website.Section V - Competitive Analysis Your Competitive Analysis section has three sub-sections as follows: 7 - Direct Competitors Direct competitors are companies that fill the same customer need you fill with the same solution.For example, if you operate an Italian restaurant, other Italian restaurants would be direct competitors.