In that section, you’ll need to use data and statistics to talk about where the market has been, where it’s expected to go and how your company will fit into it.In addition, you’ll have to provide details about the consumers you’ll be marketing to, such as their income levels.
In the final section of your business plan, you’ll reveal the financial goals and expectations that you’ve set based on market research.
You’ll report your anticipated revenue for the first 12 months and your annual projected earnings for the second, third, fourth and fifth years of business.
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But there are key components that every good plan needs to have, and it’s always a good idea to provide a clear and accurate summary of your business goals in your business plan.
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If you want to, you can create a diagram that maps out your chain of command.
Don’t forget to indicate whether your business will operate as a partnership, a sole proprietorship or a business with a different ownership structure.
If there are any issues that could prevent you from jumping into the market, like high upfront costs, it’s best to say so.
This information will go in your market analysis section.