Small Business Entrepreneurship Business Plan Developing an Introduction

Writing the Introduction When writing the introduction, you will be including information covering three areas. You will: 1.identify the type of business you have selected for your business plan including the major products and/or service you will provide. 2.give your rationale for choosing this business. 3.write a self analysis that includes actual personal experience and/or training in the business selected for the plan

Identify the Type of Business Chosen Start your paragraph by identifying the type of business you have chosen –Fast food restaurant –Clothing boutique –Repair shop –Lawn care business –Hair Styling Salon

Identify the Major Products and/or Services to be Provided Explain products and/or services you will provide. –What products or services will you offer? Will you just sell a product such as computers or will you also provide repair service? –Will you offer both products and service? Will your restaurant provide take out service? –Will your boutique offer casual or formal attire. Have you considered offering alterations? If selling clothing, will you offer casual, business and formal? Is offering a variety of products an option? Will you offer clothing to both male and females? Look at businesses in your local area for ideas about products and/or services they provide.

Give Rationale for Choosing this Business When writing this section give thought to the following questions. 1.Why is this business needed in your area? No competition in your area now The businesses of this type in the area now are over crowded. There are not other businesses providing this type of product or service – PODs, Digital camera repair 2.Is the business appropriate for your area and why? Market for your product based on the population – college students. Major sports arena, workforce. Is there a need for you product in your area – farm equipment in a farming community, pharmacy near a hospital, formal clothing in an area that has plays, symphony, etc. 3.Is the business appropriate for the geographical location? Snow skiing equipment in the mountains but not at the beach

Self Analysis of Personal Experience and/or Training in the Business This is an opportunity to analyze the experiences you have had with the type of business you have chosen. –Have your shopped in or utilized the services of a business of this type? –Have you worked in a business like the one you chose? –Do you know someone who owns a business of this type? –Did you choose this business from a desire to see this type of business in your area?

Writing the Introduction Using the information in this presentation as a guide, you are now ready to write the introduction to your business plan. Remember that the plan is a written representation of your business. Make sure to give complete information. Be sure to use good grammar skills.