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Sometimes, a new business plan is prepared for an established business that is moving in a new direction.A business plan is a fundamental tool any startup business needs to have in place prior to beginning its operations.A good business plan should outline all the costs and the downfalls of each decision a company makes.
If your research indicates that there is no market for the product, or that the industry is not strong enough to support a start-up, you should reconsider your business.
You will need to include a resume or outline of owner’s (or owners’) experience/background in the Appendix.
In this section, you provide a breakdown of the sources of money used to start your business, and an explanation of what the loan will be used for.
Description of Market is a component of your marketing plan and sets the stage for how you will advertise and market your business.
The key element of a successful marketing plan is to know your customer --- their likes, dislikes, and expectations.