Illinois Small Business Development Center
Business Plan Outline The importance of a business plan cannot be emphasized enough. Don't overlook this vital step in starting your business. It will save you time, money, and energy in the future. The IL SBDC can assist you through counseling or training. Use this outline to help you identify key elements of your business. The following is an outline of a sample business plan, which would be suitable for presentation to an investor or a loan officer. You may wish to use this as a guide for drafting your own business plan. This type of plan can be expanded and can be used throughout the life of your business with changes and revisions when necessary. 1. Executive Summary Although the summary is the first section of the business plan, it is typically written last. By highlighting the key elements within the business plan, a first-time reader can quickly get a feel for the proposed venture. This section should highlight the following: A. Business Description 1. 2. 3. 4. 5. 6.
Name Business Form: Sole Proprietorship, Partnership, Corporation, or Limited Liability Company Retail, Service, Wholesale, Construction, Manufacturing Is it an existing business or a new business? When is your business open? Is it seasonal? Supporting statements about your industry from outside sources.
B. Product/Service 1. Specific goods, merchandise/services produced or sold. 2. How are you going to price your product/service? C. Market 1. Who or What is your market? 2. Where is your market? D. Competition 1. Who are your competitors? a) Primary b) Secondary 2. What have you learned from them? E. Location and Facility 1. Area characteristics, notable demographic shifts. 2. What are your location needs? 3. What kind of building do you have or need?
3. How will you attract and hold your market?