sample of company description in business plan

How to Expertly Write the Company Description in Your Business Plan

Written by Dave Lavinsky

A key section of your business plan is the one in which you describe your company. This section comes second in your business plan, after the Executive Summary .

The Company Analysis section of your business plan has three main goals:

• to give a brief description and profile of your company
• to detail your past accomplishments
• to specify your unique qualifications.

Note that a detailed description of your products/services generally does not belong in your company section; rather that will go in the Products/Services section of your marketing plan.

Here’s what to include in your business plan company overview:

1. Company Profile

Start with a detailed profile of your company including your:

• Date of formation
• Legal structure (LLC vs. C-Corp., etc.)
• Office location(s)
• Business stage (start-up vs. undergoing R&D vs. serving customers, etc.)
• Type of business: this is where you’ll give a general description of the type of business (e.g., restaurant, software, etc.) you operate

2. Past Accomplishments

Include a chart (or bullets) of your company’s past accomplishments, including descriptions and dates when:

• Prior funding rounds were received
• Products and services were launched
• Revenue milestones were reached (e.g., date when sales surpassed the million dollar mark)
• Key partnerships were executed
• Key customer contracts were secured
• Key employees were hired

This information is critical to investors as it indicates the company’s ability to execute upon a previous game plan. Attaining milestones is an excellent indicator for potential investors that their money will be used to create value and lead to a liquidity event.

3. Unique Qualifications

Finally, detail why your company is uniquely qualified to succeed.

This is often referred to as the company’s “unfair competitive advantage.”

This advantage could include one or more of the following:

• a world-class management team
• proprietary technology
• proven operational systems
• key partnerships
• long-term contracts with major customers
• other successes-to-date

To learn how to expertly complete the other sections of your business plan, reference our complete simple business plan template .  

Other Resources for Writing Your Business Plan

• How to Write an Executive Summary
• How to Write the Market Analysis Section of a Business Plan
• The Customer Analysis Section of Your Business Plan
• Completing the Competitive Analysis Section of Your Business Plan
• The Management Team Section of Your Business Plan
• Financial Assumptions and Your Business Plan
• How to Create Financial Projections for Your Business Plan
• Everything You Need to Know about the Business Plan Appendix
• Business Plan Conclusion: Summary & Recap

Other Helpful Business Plan Articles & Templates

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How to Write a Company Description for a Business Plan

Nobody does what you do better than you, but … what is it that you do again? You might have trouble describing your business in one sentence or find yourself at a loss for words when writing a company description. Knowing how to write a company description for a business plan helps you communicate with lenders, investors, employees, and potential customers.

How to write a company description for a business plan

You put a lot of thought into your original business concept. Now you need to know how to succinctly describe your business.

Where better to describe your business than in the company description business plan?

What is a business plan?

A company description is just one part of your small business plan . The business plan outlines your goals and how to achieve them.

According to the Small Business Administration , a successful business plan should include the following:

• Executive summary
• Company description (Bingo)
• Small business market analysis
• Organization and management details
• Service or product information
• Marketing and sales overview
• Funding request
• Financial projections

Another thing to note about business plans is that you can’t write one and be done. Your business is always changing. And that means your business plan is always changing, too. Be sure to update it regularly.

What is a business description?

A company description provides an overview of key aspects of your business, like what you do and what makes your business unique. Anyone reading your business description should have no problem understanding the scope of your business.

Lenders and investors should see how your business has a place in the market, as well as its benefits to future customers.

Your business’s mission statement is the part of your company description that you want the public to see. And, you should include your vision statement, too.

Regularly update your company description as your business expands or changes.

Writing your company description

You need to know how to pitch to investors and lenders to captivate their interest. Your description should answer who, what, where, when, why, and how right off the bat.

So, do you know how to write a business description? We’ll walk you through the 5 W’s (and 1 H) to consider when drafting your first copy.

Who are you? Who is your business? Verify that the name of your business is clear in the business description section of your business plan. And, include your name (and the names of any other owners) because lenders and investors want to know the entrepreneur behind the business.

Who is your target customer? Who are you selling to? When describing your business, make sure you know who you appeal to. If you don’t know your target customer, there’s a chance that nobody will be interested in your business.

What is your product or service? If lenders and investors can’t understand what you’re selling or how it’s significant, they may pass on your concept. Be clear, narrow, and focused when telling lenders and investors about your business.

What are your goals for your business? Set realistic short-term and long-term goals. For example, if you plan on selling $20,000 worth of products by the end of the second month, include the goal in your description.

Where is your business located? If you are currently operating your business, list the address. Likewise, make sure you state where you want your business to be if you are still looking for office space.

When will you implement your business plan and see results? Include when you want to open your business (or when you opened it).

When do you plan on achieving your goals? Also, talk about the timeline for your main goals (both short-term and long-term).

When do you think you’ll leave your business? Don’t forget to discuss your exit strategy . Whether you plan on retiring in 20 years, selling your company in 15 years, or closing it down in 10 years, be clear about when you plan on parting ways.

Why would potential customers want to buy from you? Explain why you are different from the competition. This is where you can describe your business’s originality. Lenders and investors want to know why consumers would want to make a purchase at your small business instead of a competitor’s.

Why are you in business? Also make sure you include your business’s mission statement . A mission statement defines why you’re in business and what your goals are.

How are you going to structure your business? Which business structure will you form: sole proprietorship, LLC, partnership, or corporation? Explain your structure decision, too. Mention any small business advisor (e.g., business attorney) you work with to help with registration requirements, regulations, and liabilities.

How are you going to achieve the goals you set for your business? Are you going to hire employees to help you, or will you handle all responsibilities on your own? Talk about what steps you’ll take to reach the goals you outline.

How do you picture your company in the future? Include your business’s vision statement in your company description. A vision statement is an internal description that states what you want your business to look like in the future.

Business description example

Still unsure? Take a look at this business description example for more information:

Ann’s Office Hut delivers office supplies to small businesses in Boston, Massachusetts. The business is structured as a sole proprietorship, operating under entrepreneur Ann Smith. Ann’s Office Hut is located in Boston, Massachusetts and will begin operations in February. Ann’s Office Hut recognizes the busy lives of small business owners and wants to bring essential items like printers, cash registers, paper, ink, and envelopes to their doorsteps. Ann’s Office Hut will conveniently provide office supplies to small business owners who are short on time. Other office supply stores cannot match the convenience Ann’s Office Hut will give.

The business hopes to have gross sales of $30,000 by the end of one year and $95,000 by the end of five years. To achieve this goal, Ann’s Office Hut plans on offering referral credit.

Company description business plan: Final tips

Writing the business description portion of your business plan should be fun … even though it may feel more like a chore. But, this is your opportunity to talk about your business idea and get other people (i.e., lenders and investors) on board.

Here are a few final tips to keep in mind when learning how to write a company description:

• Answer the 5 W’s and 1 H
• Keep it short, simple, and easy to read
• Proofread, proofread, proofread
• Determine whether it’s interesting

This article has been updated from its original publication date of December 9, 2016. 

This is not intended as legal advice; for more information, please click here.

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How to write a business description that makes your business plan shine

Key takeaways

• A business description is a high-level overview of your company that you include in your business plan
• Your business description should entice readers—like lenders and investors—to look through the rest of your business plan to learn more about your company
• Business descriptions should be concise, error-free, and include only pertinent information about your company

Most successful businesses have one thing in common—they all have a buttoned-up business plan . It lays out the goals of the company, how a company will reach those goals, and when these goals will be realized. And while there are many sections of a business plan, a well-written business description is one of the most important parts.

However, some small business owners may not know how to write an effective business description . Luckily, there’s an easy formula to follow along with a few tips for writing an impactful business description .

What is a business description ?

Also called a company description , your business description summarizes what your company does, its purpose, and what makes it unique. It’s a critical component of your business plan and immediately follows your executive summary . Since it’s one of the first pieces of information a reader will see, it must make a great first impression.

The goal of your business description is to inform readers—like lenders , investors, potential partners, and even employees—how your business benefits consumers and what place your business has in the market. Your business description should give readers a clear understanding of your business and its functions.

Why is a business description important?

A business description is important because it gives readers a single place to learn the details about your company. A well-crafted business description can intrigue readers and encourage them to read the rest of your business plan .

Investors or lenders will have one major thing on their minds—return on investment. They want to know if your business has the potential to be successful and whether it’s worthy of their investment dollars.

Your business description is your first opportunity to wow these investors or lenders and show them why your business will be profitable. It can pique their interest and push them to dig into the rest of your business plan .

What to include in a business description

An effective business description should include information that tells readers exactly what your company does, who is in charge of operations, and what will make your company successful. It should also tell readers what makes you different from competitors and why customers will come knocking at your door with their business.

Below, we’ve outlined every piece of information you should include in your business description . We’ve also created a hypothetical scenario for a hamburger restaurant and added a business description example for each step .

Business name

List the official name of your business as it’s registered with your state. Also include the names of the owner(s) and other key members of your management team .

Example: Jay’s Organic Burger Joint, owned and operated by Jacob Doe

Business goals

Detail the purpose of your business and what you’re aiming to achieve with your venture. These should be realistic short- and long-term goals.

Example: Jay’s aims to grow local brand awareness by 20% and forge partnerships with four additional local suppliers in the next year. The company also intends to expand operations to an additional location in the Chicago area and is seeking an investment of $200,000 in exchange for equity in the company.

Target customers

Have a thorough understanding of who your target market is. Explain who you’re selling to and why they will buy your product or service. Dig deeper into their needs and motivations so you can predict their purchase behaviors. Identifying the demographics of your target market, such as age group, income, and interests, can give you a competitive edge and attract loyal customers.

Example: Jay’s understands that its customers are health-conscious but have busy lives with little time for preparing healthy meals.

Competitive advantages

Describe what makes your business unique from your competitors. Readers should understand why your company will succeed and make you a front-runner in the market.

Example: Unlike its competitors, the restaurant alleviates the target audience’ s pain points by providing quick and easy meals that are also healthy for the entire family.

Business location and opening date

Include where your company is headquartered and where you will be conducting business. Also, share when you opened your business or when you plan on opening if you haven’t already.

Example: Jay’s Organic Burger Joint is headquartered in Chicago, Illinois and opened operations in April 2019.

Mission statement

Your mission statement tells readers why your business exists. It should highlight the motivations for starting your business and summarize your product or service, target consumers, and why you’re unique.

Example: Jay’s Organic Burger Joint is a fast-casual restaurant that serves the highest quality hamburgers to hungry and health-conscious customers in Chicago, Illinois.

Products or services

Highlight what products or services you’re offering customers. Also, discuss the benefits your products or services provide and what makes them different from competitors.

Example: The menu focuses on healthy meals using only organic ingredients and grass-fed beef.

Business structure

List what type of business you’re operating. For example, this could be a sole proprietorship , partnership, limited liability company (LLC), or another type of corporation.

Example: The business is a limited liability company owned by Jacob Doe.

Once you’ve included all of these details in your business description , it should look something like this:

Jay’s Organic Burger Joint is a fast-casual restaurant that serves the highest quality hamburgers to hungry and health-conscious customers in Chicago, Illinois. Jay’s understands that its customers are health-conscious but have busy lives with little time for preparing healthy meals.

Unlike its competitors, the restaurant alleviates target customers’ pain points by providing quick and easy meals that are also healthy for the entire family. Jay’s uses local ingredients sourced from farmers in the greater Chicago area. The menu focuses on healthy meals using only organic ingredients and grass-fed beef.

The business is a limited liability company owned by Jacob Doe. Jay’s Organic Burger Joint is headquartered in Chicago, Illinois, and opened operations in April of 2019.

Jay’s aims to grow local brand awareness by 20% and forge partnerships with four additional local suppliers in the next year. The company also intends to expand operations to an additional location in the Chicago area and is seeking an investment of $200,000 in exchange for equity in the company.

How to write a business description

Not all business descriptions are made the same. There are a few tips to consider if you want your business description to stand out and wow your readers.

Have an elevator pitch

Your business description should kick off with an elevator pitch . An elevator pitch is typically spoken, but it helps to quickly summarize your company at the start of your business description. This pitch quickly covers the key aspects of your business and should be brief and persuasive. You should get straight to the point and immediately give readers your value proposition.

For example, Jay’s Organic Burger Joint could write something like “We serve the highest quality hamburgers and provide a convenient alternative for health-conscious customers who are always on the go.”

Keep it high level

Although you want your business description to be informative, you want to limit the amount of information you include in this section of your business plan. Keep it high-level and avoid going into too much detail. The subsequent sections of your business plan will cover the finer details. Remember, the goal is to give just enough information to entice readers to go through the rest of your business plan .

Show your excitement

This is your opportunity to show your excitement and give your business plan a human touch. Your business plan isn’t only selling your product or service to investors—it’s also selling you. Let your passion shine through as you explain why you started the company and what you aim to achieve.

Keep it short and concise

It can be easy to get carried away and make your business description too long. Avoid being too wordy, which can overwhelm the reader.

Business descriptions should only be a few paragraphs long for most types of companies. Remember, you’re trying to intrigue the reader and encourage them to read the rest of your business plan . If it’s too long, you’ll lose the reader’s attention.

Proofread for errors

Grammatical errors and misspellings can tarnish your company description . Even if you include all the right information, you won’t impress readers if it’s riddled with errors.

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Engage readers with your business description

A fine-tuned business description will kick off your business plan on a high note. Whether you’re launching a startup or already have your business up and running, knowing how to write a business description will provide a high-level overview of your company and can help you secure investment dollars from potential investors or lenders .

The information above is provided for educational and informational purposes only. It is not intended to be a substitute for professional advice and may not be suitable for your circumstances. Unless stated otherwise, references to third-party links, services, or products do not constitute endorsement by Yelp.

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The 7 Best Business Plan Examples

So you want to start a business . Kudos! You’re doing big things.

One of the first steps to building a strong foundation for your new venture is to write a rock-solid business plan . When done right, your business plan can pave your path to success, all while helping you to smoothly cruise through any obstacles that may come up.

Plus, a good business plan can help you secure critical partnerships and funding that you might need in your early stages.

If you’re unsure how to write one, a great place to start is to learn from the pros. In this article, we’ll look at companies that built incredible business plans.

Take notes on the structure, format, and details. Hopefully you’ll leave with plenty of inspiration to write your own.

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7-part template for business plan examples

We’ll look at a business plan that is structured using a seven-part template. Here’s a quick review of those parts:

• Executive summary: A quick overview of your business and the contents of your business plan.
• Company description: More info about your company, its goals and mission, and why you started it in the first place.
• Market analysis: Research about the market and industry your business will operate in, including a competitive analysis about the companies you’ll be up against.
• Products and services: A detailed description of what you’ll be selling to your customers.
• Marketing plan: A strategic outline of how you plan to market and promote your business before, during, and after your company launches into the market.
• Logistics and operations plan: An explanation of the systems, processes, and tools that are needed to run your business in the background.
• Financial plan: A map of your short-term (and even long-term) financial goals and the costs to run the business. If you’re looking for funding, here’s the place to discuss your request and needs.

7 business plan examples (section by section)

In this section, you’ll find hypothetical and real-world examples of each aspect of a business plan to show you how the whole thing comes together. 

• Executive summary

Your executive summary offers a high-level overview of the rest of your business plan. You’ll want to include a brief description of your company, market research, competitor analysis, and financial information.  

In ThoughtCo’s sample business plan for a fictional company called Acme Management Technology, the executive summary is three paragraphs and occupies nearly half the page:

• Company description

You might go more in-depth with your company description and include the following sections:

• Nature of the business. Mention the general category of business you fall under. Are you a manufacturer, wholesaler, or retailer of your products?
• Background information. Talk about your past experiences and skills, and how you’ve combined them to fill in the market. 
• Business structure. This section outlines how you registered your company —as a corporation, sole proprietorship, LLC, or other business type.
• Industry. Which business sector do you operate in? The answer might be technology, merchandising, or another industry.
• Team. Whether you’re the sole full-time employee of your business or you have contractors to support your daily workflow, this is your chance to put them under the spotlight.

You can also repurpose your company description elsewhere, like on your About page, Instagram page, or other properties that ask for a boilerplate description of your business. Hair extensions brand Luxy Hair has a blurb on its About page that could easily be repurposed as a company description for its business plan. 

• Market analysis

Market analysis comprises research on product supply and demand, your target market, the competitive landscape, and industry trends. You might do a SWOT analysis to learn where you stand and identify market gaps that you could exploit to establish your footing. Here’s an example of a SWOT analysis we did for a hypothetical ecommerce business: 

You’ll also want to run a competitive analysis as part of the market analysis component for your business plan. This will show you who you’re up against and give you ideas on how to gain an edge over the competition. 

• Products and services

This part of your business plan describes your product or service, how it will be priced, and the ways it will compete against similar offerings in the market. Don’t go into too much detail here —a few lines are enough to introduce your item to the reader.

• Marketing plan

Potential investors will want to know how you’ll get the word out about your business. As such, it’s essential to build a marketing plan that highlights the promotion and customer acquisition strategies you’re planning to adopt. 

Most marketing plans focus on the four Ps: product, price, place, and promotion. However, it’s easier when you break it down by the different marketing channels . Mention how you intend to promote your business using blogs, email, social media, and word-of-mouth marketing. 

Here’s an example of a hypothetical marketing plan for a real estate website:

Logistics and operations

This section of your business plan provides information about your production, facilities, production, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan (a.k.a. financial statement) offers a breakdown of your sales, revenue, expenses, profit, and other financial metrics. You’ll want to include all the numbers and concrete data to project your current and projected financial state. For example, the financial statement for ecommerce brand Nature’s Candy includes forecasted revenue, expenses, and net profit in graphs.

It then goes deeper into the financials, citing:

• Funding needs
• Project cash-flow statement
• Project profit-and-loss statement
• Projected balance sheet

You can use Shopify’s financial plan template to create your own income statement, cash-flow statement, and balance sheet. 

Types of business plan (and what to write for each)

A one-page business plan is a pared down version of a standard business plan that’s easy for potential investors and partners to understand. You’ll want to include all of the sections, but make sure they’re abbreviated and summarized.

• Logistics and operations plan
• Financials 

A startup business plan is meant to secure outside funding for a new business. Typically, there’s a big focus on the financials, as well as other sections that help determine the viability of your business idea —market analysis, for example. Shopify has a great business plan template for startups that include all the below points.

• Market research: in depth
• Financials: in depth

Internal 

Your internal business plan acts as the enforcer of your company’s vision. It reminds your team of the long-term objective and keeps them strategically aligned toward the same goal.

• Market research

Feasibility 

A feasibility business plan is essentially a feasibility study that helps you evaluate whether your product or idea is worthy of a full business plan. 

Mix and match to make a killer business plan

The good news is: there’s no single right way to write a business plan. If you’re feeling unsure about how to craft yours, pull bits and pieces that you like from other examples, and leave out the parts that don’t apply or make sense for you.

The important thing is to clearly communicate your reason for starting the company, what’s needed to operate it, and how you plan to make it work in the long run.

When you can convince others that you have a killer game plan, you’ve nailed it.

Want to learn more?

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• Bootstrapping a Business: 10 Tips to Help You Succeed
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How to Write a Business Plan, Step by Step

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1. Write an executive summary

2. describe your company, 3. state your business goals, 4. describe your products and services, 5. do your market research, 6. outline your marketing and sales plan, 7. perform a business financial analysis, 8. make financial projections, 9. add additional information to an appendix, business plan tips and resources.

A business plan is a document that outlines your business’s financial goals and explains how you’ll achieve them. A strong, detailed plan will provide a road map for the business’s next three to five years, and you can share it with potential investors, lenders or other important partners.

ZenBusiness: Start Your Dream Business

Here’s a step-by-step guide to writing your business plan.

» Need help writing? Learn about the best business plan software .

This is the first page of your business plan. Think of it as your elevator pitch. It should include a mission statement, a brief description of the products or services offered, and a broad summary of your financial growth plans.

Though the executive summary is the first thing your investors will read, it can be easier to write it last. That way, you can highlight information you’ve identified while writing other sections that go into more detail.

» MORE: How to write an executive summary in 6 steps

Next up is your company description, which should contain information like:

Your business’s registered name.

Address of your business location .

Names of key people in the business. Make sure to highlight unique skills or technical expertise among members of your team.

Your company description should also define your business structure — such as a sole proprietorship, partnership or corporation — and include the percent ownership that each owner has and the extent of each owner’s involvement in the company.

Lastly, it should cover the history of your company and the nature of your business now. This prepares the reader to learn about your goals in the next section.

» MORE: How to write a company overview for a business plan

The third part of a business plan is an objective statement. This section spells out exactly what you’d like to accomplish, both in the near term and over the long term.

If you’re looking for a business loan or outside investment, you can use this section to explain why you have a clear need for the funds, how the financing will help your business grow, and how you plan to achieve your growth targets. The key is to provide a clear explanation of the opportunity presented and how the loan or investment will grow your company.

For example, if your business is launching a second product line, you might explain how the loan will help your company launch the new product and how much you think sales will increase over the next three years as a result.

In this section, go into detail about the products or services you offer or plan to offer.

You should include the following:

An explanation of how your product or service works.

The pricing model for your product or service.

The typical customers you serve.

Your supply chain and order fulfillment strategy.

Your sales strategy.

Your distribution strategy.

You can also discuss current or pending trademarks and patents associated with your product or service.

Lenders and investors will want to know what sets your product apart from your competition. In your market analysis section , explain who your competitors are. Discuss what they do well, and point out what you can do better. If you’re serving a different or underserved market, explain that.

Here, you can address how you plan to persuade customers to buy your products or services, or how you will develop customer loyalty that will lead to repeat business.

» MORE: R e a d our complete guide to small business marketing

If you’re a startup, you may not have much information on your business financials yet. However, if you’re an existing business, you’ll want to include income or profit-and-loss statements, a balance sheet that lists your assets and debts, and a cash flow statement that shows how cash comes into and goes out of the company.

You may also include metrics such as:

Net profit margin: the percentage of revenue you keep as net income.

Current ratio: the measurement of your liquidity and ability to repay debts.

Accounts receivable turnover ratio: a measurement of how frequently you collect on receivables per year.

This is a great place to include charts and graphs that make it easy for those reading your plan to understand the financial health of your business.

» NerdWallet’s picks for setting up your business finances:

The best business checking accounts .

The best business credit cards .

The best accounting software .

This is a critical part of your business plan if you’re seeking financing or investors. It outlines how your business will generate enough profit to repay the loan or how you will earn a decent return for investors.

Here, you’ll provide your business’s monthly or quarterly sales, expenses and profit estimates over at least a three-year period — with the future numbers assuming you’ve obtained a new loan.

Accuracy is key, so carefully analyze your past financial statements before giving projections. Your goals may be aggressive, but they should also be realistic.

List any supporting information or additional materials that you couldn’t fit in elsewhere, such as resumes of key employees, licenses, equipment leases, permits, patents, receipts, bank statements, contracts and personal and business credit history. If the appendix is long, you may want to consider adding a table of contents at the beginning of this section.

Here are some tips to help your business plan stand out:

Avoid over-optimism: If you’re applying for a business loan at a local bank, the loan officer likely knows your market pretty well. Providing unreasonable sales estimates can hurt your chances of loan approval.

Proofread: Spelling, punctuation and grammatical errors can jump off the page and turn off lenders and prospective investors, taking their mind off your business and putting it on the mistakes you made. If writing and editing aren't your strong suit, you may want to hire a professional business plan writer, copy editor or proofreader.

Use free resources: SCORE is a nonprofit association that offers a large network of volunteer business mentors and experts who can help you write or edit your business plan. You can search for a mentor or find a local SCORE chapter for more guidance.

The U.S. Small Business Administration’s Small Business Development Centers , which provide free business consulting and help with business plan development, can also be a resource.

On a similar note...

Step-by-Step Guide to Writing a Simple Business Plan

By Joe Weller | October 11, 2021

Link copied

A business plan is the cornerstone of any successful company, regardless of size or industry. This step-by-step guide provides information on writing a business plan for organizations at any stage, complete with free templates and expert advice. 

Included on this page, you’ll find a step-by-step guide to writing a business plan and a chart to identify which type of business plan you should write . Plus, find information on how a business plan can help grow a business and expert tips on writing one .

What Is a Business Plan?

A business plan is a document that communicates a company’s goals and ambitions, along with the timeline, finances, and methods needed to achieve them. Additionally, it may include a mission statement and details about the specific products or services offered.

A business plan can highlight varying time periods, depending on the stage of your company and its goals. That said, a typical business plan will include the following benchmarks:

• Product goals and deadlines for each month
• Monthly financials for the first two years
• Profit and loss statements for the first three to five years
• Balance sheet projections for the first three to five years

Startups, entrepreneurs, and small businesses all create business plans to use as a guide as their new company progresses. Larger organizations may also create (and update) a business plan to keep high-level goals, financials, and timelines in check.

While you certainly need to have a formalized outline of your business’s goals and finances, creating a business plan can also help you determine a company’s viability, its profitability (including when it will first turn a profit), and how much money you will need from investors. In turn, a business plan has functional value as well: Not only does outlining goals help keep you accountable on a timeline, it can also attract investors in and of itself and, therefore, act as an effective strategy for growth.

For more information, visit our comprehensive guide to writing a strategic plan or download free strategic plan templates . This page focuses on for-profit business plans, but you can read our article with nonprofit business plan templates .

Business Plan Steps

The specific information in your business plan will vary, depending on the needs and goals of your venture, but a typical plan includes the following ordered elements:

• Executive summary
• Description of business
• Market analysis
• Competitive analysis
• Description of organizational management
• Description of product or services
• Marketing plan
• Sales strategy
• Funding details (or request for funding)
• Financial projections

If your plan is particularly long or complicated, consider adding a table of contents or an appendix for reference. For an in-depth description of each step listed above, read “ How to Write a Business Plan Step by Step ” below.

Broadly speaking, your audience includes anyone with a vested interest in your organization. They can include potential and existing investors, as well as customers, internal team members, suppliers, and vendors.

Do I Need a Simple or Detailed Plan?

Your business’s stage and intended audience dictates the level of detail your plan needs. Corporations require a thorough business plan — up to 100 pages. Small businesses or startups should have a concise plan focusing on financials and strategy.

How to Choose the Right Plan for Your Business

In order to identify which type of business plan you need to create, ask: “What do we want the plan to do?” Identify function first, and form will follow.

Use the chart below as a guide for what type of business plan to create:

Is the Order of Your Business Plan Important?

There is no set order for a business plan, with the exception of the executive summary, which should always come first. Beyond that, simply ensure that you organize the plan in a way that makes sense and flows naturally.

The Difference Between Traditional and Lean Business Plans

A traditional business plan follows the standard structure — because these plans encourage detail, they tend to require more work upfront and can run dozens of pages. A Lean business plan is less common and focuses on summarizing critical points for each section. These plans take much less work and typically run one page in length.

In general, you should use a traditional model for a legacy company, a large company, or any business that does not adhere to Lean (or another Agile method ). Use Lean if you expect the company to pivot quickly or if you already employ a Lean strategy with other business operations. Additionally, a Lean business plan can suffice if the document is for internal use only. Stick to a traditional version for investors, as they may be more sensitive to sudden changes or a high degree of built-in flexibility in the plan.

How to Write a Business Plan Step by Step

Writing a strong business plan requires research and attention to detail for each section. Below, you’ll find a 10-step guide to researching and defining each element in the plan.

Step 1: Executive Summary

The executive summary will always be the first section of your business plan. The goal is to answer the following questions:

• What is the vision and mission of the company?
• What are the company’s short- and long-term goals?

See our  roundup of executive summary examples and templates for samples. Read our executive summary guide to learn more about writing one.

Step 2: Description of Business

The goal of this section is to define the realm, scope, and intent of your venture. To do so, answer the following questions as clearly and concisely as possible:

• What business are we in?
• What does our business do?

Step 3: Market Analysis

In this section, provide evidence that you have surveyed and understand the current marketplace, and that your product or service satisfies a niche in the market. To do so, answer these questions:

• Who is our customer? 
• What does that customer value?

Step 4: Competitive Analysis

In many cases, a business plan proposes not a brand-new (or even market-disrupting) venture, but a more competitive version — whether via features, pricing, integrations, etc. — than what is currently available. In this section, answer the following questions to show that your product or service stands to outpace competitors:

• Who is the competition? 
• What do they do best? 
• What is our unique value proposition?

Step 5: Description of Organizational Management

In this section, write an overview of the team members and other key personnel who are integral to success. List roles and responsibilities, and if possible, note the hierarchy or team structure.

Step 6: Description of Products or Services

In this section, clearly define your product or service, as well as all the effort and resources that go into producing it. The strength of your product largely defines the success of your business, so it’s imperative that you take time to test and refine the product before launching into marketing, sales, or funding details.

Questions to answer in this section are as follows:

• What is the product or service?
• How do we produce it, and what resources are necessary for production?

Step 7: Marketing Plan

In this section, define the marketing strategy for your product or service. This doesn’t need to be as fleshed out as a full marketing plan , but it should answer basic questions, such as the following:

• Who is the target market (if different from existing customer base)?
• What channels will you use to reach your target market?
• What resources does your marketing strategy require, and do you have access to them?
• If possible, do you have a rough estimate of timeline and budget?
• How will you measure success?

Step 8: Sales Plan

Write an overview of the sales strategy, including the priorities of each cycle, steps to achieve these goals, and metrics for success. For the purposes of a business plan, this section does not need to be a comprehensive, in-depth sales plan , but can simply outline the high-level objectives and strategies of your sales efforts. 

Start by answering the following questions:

• What is the sales strategy?
• What are the tools and tactics you will use to achieve your goals?
• What are the potential obstacles, and how will you overcome them?
• What is the timeline for sales and turning a profit?
• What are the metrics of success?

Step 9: Funding Details (or Request for Funding)

This section is one of the most critical parts of your business plan, particularly if you are sharing it with investors. You do not need to provide a full financial plan, but you should be able to answer the following questions:

• How much capital do you currently have? How much capital do you need?
• How will you grow the team (onboarding, team structure, training and development)?
• What are your physical needs and constraints (space, equipment, etc.)?

Step 10: Financial Projections

Apart from the fundraising analysis, investors like to see thought-out financial projections for the future. As discussed earlier, depending on the scope and stage of your business, this could be anywhere from one to five years. 

While these projections won’t be exact — and will need to be somewhat flexible — you should be able to gauge the following:

• How and when will the company first generate a profit?
• How will the company maintain profit thereafter?

Business Plan Template

Download Business Plan Template

Microsoft Excel | Smartsheet

This basic business plan template has space for all the traditional elements: an executive summary, product or service details, target audience, marketing and sales strategies, etc. In the finances sections, input your baseline numbers, and the template will automatically calculate projections for sales forecasting, financial statements, and more.

For templates tailored to more specific needs, visit this business plan template roundup or download a fill-in-the-blank business plan template to make things easy. 

If you are looking for a particular template by file type, visit our pages dedicated exclusively to Microsoft Excel , Microsoft Word , and Adobe PDF business plan templates.

How to Write a Simple Business Plan

A simple business plan is a streamlined, lightweight version of the large, traditional model. As opposed to a one-page business plan , which communicates high-level information for quick overviews (such as a stakeholder presentation), a simple business plan can exceed one page.

Below are the steps for creating a generic simple business plan, which are reflected in the template below .

• Write the Executive Summary This section is the same as in the traditional business plan — simply offer an overview of what’s in the business plan, the prospect or core offering, and the short- and long-term goals of the company. 
• Add a Company Overview Document the larger company mission and vision. 
• Provide the Problem and Solution In straightforward terms, define the problem you are attempting to solve with your product or service and how your company will attempt to do it. Think of this section as the gap in the market you are attempting to close.
• Identify the Target Market Who is your company (and its products or services) attempting to reach? If possible, briefly define your buyer personas .
• Write About the Competition In this section, demonstrate your knowledge of the market by listing the current competitors and outlining your competitive advantage.
• Describe Your Product or Service Offerings Get down to brass tacks and define your product or service. What exactly are you selling?
• Outline Your Marketing Tactics Without getting into too much detail, describe your planned marketing initiatives.
• Add a Timeline and the Metrics You Will Use to Measure Success Offer a rough timeline, including milestones and key performance indicators (KPIs) that you will use to measure your progress.
• Include Your Financial Forecasts Write an overview of your financial plan that demonstrates you have done your research and adequate modeling. You can also list key assumptions that go into this forecasting. 
• Identify Your Financing Needs This section is where you will make your funding request. Based on everything in the business plan, list your proposed sources of funding, as well as how you will use it.

Simple Business Plan Template

Download Simple Business Plan Template

Microsoft Excel |  Microsoft Word | Adobe PDF  | Smartsheet

Use this simple business plan template to outline each aspect of your organization, including information about financing and opportunities to seek out further funding. This template is completely customizable to fit the needs of any business, whether it’s a startup or large company.

Read our article offering free simple business plan templates or free 30-60-90-day business plan templates to find more tailored options. You can also explore our collection of one page business templates . 

How to Write a Business Plan for a Lean Startup

A Lean startup business plan is a more Agile approach to a traditional version. The plan focuses more on activities, processes, and relationships (and maintains flexibility in all aspects), rather than on concrete deliverables and timelines.

While there is some overlap between a traditional and a Lean business plan, you can write a Lean plan by following the steps below:

• Add Your Value Proposition Take a streamlined approach to describing your product or service. What is the unique value your startup aims to deliver to customers? Make sure the team is aligned on the core offering and that you can state it in clear, simple language.
• List Your Key Partners List any other businesses you will work with to realize your vision, including external vendors, suppliers, and partners. This section demonstrates that you have thoughtfully considered the resources you can provide internally, identified areas for external assistance, and conducted research to find alternatives.
• Note the Key Activities Describe the key activities of your business, including sourcing, production, marketing, distribution channels, and customer relationships.
• Include Your Key Resources List the critical resources — including personnel, equipment, space, and intellectual property — that will enable you to deliver your unique value.
• Identify Your Customer Relationships and Channels In this section, document how you will reach and build relationships with customers. Provide a high-level map of the customer experience from start to finish, including the spaces in which you will interact with the customer (online, retail, etc.). 
• Detail Your Marketing Channels Describe the marketing methods and communication platforms you will use to identify and nurture your relationships with customers. These could be email, advertising, social media, etc.
• Explain the Cost Structure This section is especially necessary in the early stages of a business. Will you prioritize maximizing value or keeping costs low? List the foundational startup costs and how you will move toward profit over time.
• Share Your Revenue Streams Over time, how will the company make money? Include both the direct product or service purchase, as well as secondary sources of revenue, such as subscriptions, selling advertising space, fundraising, etc.

Lean Business Plan Template for Startups

Download Lean Business Plan Template for Startups

Microsoft Word | Adobe PDF

Startup leaders can use this Lean business plan template to relay the most critical information from a traditional plan. You’ll find all the sections listed above, including spaces for industry and product overviews, cost structure and sources of revenue, and key metrics, and a timeline. The template is completely customizable, so you can edit it to suit the objectives of your Lean startups.

See our wide variety of  startup business plan templates for more options.

How to Write a Business Plan for a Loan

A business plan for a loan, often called a loan proposal , includes many of the same aspects of a traditional business plan, as well as additional financial documents, such as a credit history, a loan request, and a loan repayment plan.

In addition, you may be asked to include personal and business financial statements, a form of collateral, and equity investment information.

Download free financial templates to support your business plan.

Tips for Writing a Business Plan

Outside of including all the key details in your business plan, you have several options to elevate the document for the highest chance of winning funding and other resources. Follow these tips from experts:.

• Keep It Simple: Avner Brodsky , the Co-Founder and CEO of Lezgo Limited, an online marketing company, uses the acronym KISS (keep it short and simple) as a variation on this idea. “The business plan is not a college thesis,” he says. “Just focus on providing the essential information.”
• Do Adequate Research: Michael Dean, the Co-Founder of Pool Research , encourages business leaders to “invest time in research, both internal and external (market, finance, legal etc.). Avoid being overly ambitious or presumptive. Instead, keep everything objective, balanced, and accurate.” Your plan needs to stand on its own, and you must have the data to back up any claims or forecasting you make. As Brodsky explains, “Your business needs to be grounded on the realities of the market in your chosen location. Get the most recent data from authoritative sources so that the figures are vetted by experts and are reliable.”
• Set Clear Goals: Make sure your plan includes clear, time-based goals. “Short-term goals are key to momentum growth and are especially important to identify for new businesses,” advises Dean.
• Know (and Address) Your Weaknesses: “This awareness sets you up to overcome your weak points much quicker than waiting for them to arise,” shares Dean. Brodsky recommends performing a full SWOT analysis to identify your weaknesses, too. “Your business will fare better with self-knowledge, which will help you better define the mission of your business, as well as the strategies you will choose to achieve your objectives,” he adds.
• Seek Peer or Mentor Review: “Ask for feedback on your drafts and for areas to improve,” advises Brodsky. “When your mind is filled with dreams for your business, sometimes it is an outsider who can tell you what you’re missing and will save your business from being a product of whimsy.”

Outside of these more practical tips, the language you use is also important and may make or break your business plan.

Shaun Heng, VP of Operations at Coin Market Cap , gives the following advice on the writing, “Your business plan is your sales pitch to an investor. And as with any sales pitch, you need to strike the right tone and hit a few emotional chords. This is a little tricky in a business plan, because you also need to be formal and matter-of-fact. But you can still impress by weaving in descriptive language and saying things in a more elegant way.

“A great way to do this is by expanding your vocabulary, avoiding word repetition, and using business language. Instead of saying that something ‘will bring in as many customers as possible,’ try saying ‘will garner the largest possible market segment.’ Elevate your writing with precise descriptive words and you'll impress even the busiest investor.”

Additionally, Dean recommends that you “stay consistent and concise by keeping your tone and style steady throughout, and your language clear and precise. Include only what is 100 percent necessary.”

Resources for Writing a Business Plan

While a template provides a great outline of what to include in a business plan, a live document or more robust program can provide additional functionality, visibility, and real-time updates. The U.S. Small Business Association also curates resources for writing a business plan.

Additionally, you can use business plan software to house data, attach documentation, and share information with stakeholders. Popular options include LivePlan, Enloop, BizPlanner, PlanGuru, and iPlanner.

How a Business Plan Helps to Grow Your Business

A business plan — both the exercise of creating one and the document — can grow your business by helping you to refine your product, target audience, sales plan, identify opportunities, secure funding, and build new partnerships. 

Outside of these immediate returns, writing a business plan is a useful exercise in that it forces you to research the market, which prompts you to forge your unique value proposition and identify ways to beat the competition. Doing so will also help you build (and keep you accountable to) attainable financial and product milestones. And down the line, it will serve as a welcome guide as hurdles inevitably arise.

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General Business Description Examples

General business description examples give you an idea on how to write a business description or company profile for your company. 3 min read

General business description examples give you an idea on how to write a business description or company profile for your company, so that it communicates your field and scope of business to your target audience in the most effective manner possible.

The general company description should tell your audience what your company does, what its goals are and what business philosophy it subscribes to.

What Is a Company Profile?

A company profile is a formal introduction of your business. It informs others about the company's products and services. A well-written company profile creates a great impression on the audience. It's an effective way to introduce your company to your customers, creditors and other stakeholders.

If you are creating a company profile to place on your business website, you should structure it carefully so that users can easily navigate through important information, like company address, management team and contact details. A company profile listed in business directories and organizations, like Better Business Bureau (BBB), makes it easy for customers to find your company and learn about the products and services it offers.

You should write a company profile from the perspective of the reader and customize it for your target audience.

What Should You Include in a Company Business Description?

• Mission Statement : It's a short statement that tells why the company exists and what its guiding principles are.
• Goals and Objectives : Describe your business goals or long range plans and the objectives or steps to achieve those goals.
• Business Philosophy : It's the fundamental principle for which your company is formed.
• Industry : Describe the industry you work in, including the growth prospects and the opportunities it presents.
• Strengths and Skills : Describe the strengths and skills of your company and the advantages it has over its competition.
• Legal Structure : Specify whether your business is a sole proprietorship, partnership, limited liability company or a corporation.
• Target Market : Give a brief description of your target market and how you plan to approach it.
• Closing Summary : Write it as an introduction to create the first impression, so that your target audience wants to know more about your business.

Writing a Business Description for a Directory Listing

If you are writing a business description for a directory listing, make sure it includes the following essential information:

• Business name
• City, town or neighborhood
• Industry or business category
• Search terms related to your business
• Value statement

Business Description Examples for Directory Listing

XYZ is a partnership firm owned and operated by A and B in the city of Davis, California. You can find all types of lab equipment for schools and colleges.

ABC Company provides high quality plumbing services. We have been serving St. Washougal, Washington and neighboring areas for more than 12 years.

Sit and Chill is a Chinese restaurant in St. Irving, Texas. For nine years, we have been a local favorite for the best Chinese noodles in town.

Apex Doors is a garage door repair company in Wooster, Ohio. We specialize in building and repairing garage doors.

Tips for Writing an Effective Company Profile

• Begin with a focused company introduction that tells about the management style of your company.
• Avoid using idioms and phrases. State the mission statement as clearly as possible.
• Define your company's policy in catchy terms keeping your target customers in mind.
• Use appropriate format and style as suggested by authority sources.
• Revise your company profile from time to time and keep it up-to-date.
• Understand the requirements of the business directory you are writing your company profile for. Some directories include everything in one place, while others provide additional fields for certain information like location, category and amenities.
• Write to inform rather than to impress. Make sure you provide all the details your customer would need to contact you.
• Align the description with the tone and brand of your company.
• After reading your description, customers should be able to visualize an image of your company rather than remembering a bulleted list of details.
• Customize your company profile for different niche-specific directories . Instead of copying and pasting the same description everywhere, try to highlight those aspects of your business which are most relevant to the platform.
• Always remember your target audience while writing the company description. Think about their requirements and preferences.
• Try to make your business stand out from your competition.

If you need help with general business description examples, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

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Business Plan Section 2: Company Description

The company description provides a snapshot of your business. Check out the 11 components to include in this section of your business plan.

Think of the company description section of your business plan as a snapshot of who you are and what your company is all about. What do you do? How are you different from other businesses? What niche does your product or service fill? It doesn’t have to be lengthy, but it should be well-thought out to present you in the best light while being as accurate as possible. Some specifics to include:

1. Company Name

The official legal name of your business.

2. Business Structure

Are you a sole proprietorship, limited liability corporation, partnership or corporation?

3. Ownership or Management Team

Who are the key players? What makes them (or you) qualified to run your business?

4. Location

Where are you headquartered?

5. Company History

When and where were you founded? What inspired you to come up with the idea for your business?

6. Mission Statement

What is the purpose of your company? What need does your product or service fill?

7. Products or Services

What are you making or selling, or what service are you providing?

8. Target Market

Who are you selling to? Who are the customers, organizations, or other businesses that your company will serve?

9. Competitive Advantages

What separates you from the competition? What is it about you that will make your business a success? Why will people want to do business with you?

10. Objectives

What would you like to accomplish in the immediate future, and what are your longer-term goals?

11. Vision Statement

What does the future of your company look like? How will you craft your vision statement?

Now that you have some ideas of the substance, think about the style. Even though the purpose of the company description is to give basic information about your business, it’s an opportunity to promote yourself and explain why you’re worth loaning money to or being involved with.

If you had just a few moments with a potential customer or investor, what would you tell them about your business? Start with an elevator pitch-a quick, few sentence description that captures all the important information about your company, along with your passion for what you’re doing.

Some of what you’ll want to say about the company will be covered in other sections of the business plan, so keep this part more of an overview.

Let your passion shine. When you share the story about why you started your company and what keeps you motivated, it helps you stand out from the crowd and gives your plan a personal touch. Be professional, but don’t be afraid to let your excitement show and draw the reader in. Make them look forward to reading the rest of the plan.

That said, don’t get carried away. It may be hard to find the balance between brevity and excitement about all you are doing and all you have planned, but it’s important to do so. Get an editor that you trust to make sure you’ve kept a professional tone yet conveyed the essence of what differentiates your business from others.

Editing is important. You may tackle the company description first when writing your plan, then find you cover a lot of the information in greater depth as you go along. Definitely plan to read and re-read what you’ve written, and cut out any unnecessary or duplicate information.

If possible, proofreading is even more important than editing! Few things will have someone take you less seriously than typos, misspellings, and grammatical errors. This advice covers more than just the company description portion of your business plan, of course. Make sure your business plan presents you in the best light, not just as far as content is concerned, but how it’s written, as well.

To sum up, the company description is the basic introduction to your business. If someone reads only this part of your plan, they should be able to get what you’re trying to accomplish.

NEXT ARTICLE > Business Plan Section 3: Organization and Management

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550+ Business Plan Examples to Launch Your Business

Need help writing your business plan? Explore over 550 real-world business plan examples across industries to guide you. For an intuitive tool to walk you through the plan writing process, LivePlan includes SBA-approved business plan examples to get a bank loan or outside investment.

Find your business plan example

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Example business plan format

Before you start exploring our library of business plan examples, it's worth taking the time to understand the traditional business plan format . You'll find that the plans in this library and most investor-approved business plans will include the following sections:

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally only one to two pages. You should also plan to write this section last after you've written your full business plan.

Your executive summary should include a summary of the problem you are solving, a description of your product or service, an overview of your target market, a brief description of your team, a summary of your financials, and your funding requirements (if you are raising money).

Products & services

The products & services chapter of your business plan is where the real meat of your plan lives. It includes information about the problem that you're solving, your solution, and any traction that proves that it truly meets the need you identified.

This is your chance to explain why you're in business and that people care about what you offer. It needs to go beyond a simple product or service description and get to the heart of why your business works and benefits your customers.

Market analysis

Conducting a market analysis ensures that you fully understand the market that you're entering and who you'll be selling to. This section is where you will showcase all of the information about your potential customers. You'll cover your target market as well as information about the growth of your market and your industry. Focus on outlining why the market you're entering is viable and creating a realistic persona for your ideal customer base.

Competition

Part of defining your opportunity is determining what your competitive advantage may be. To do this effectively you need to get to know your competitors just as well as your target customers. Every business will have competition, if you don't then you're either in a very young industry or there's a good reason no one is pursuing this specific venture.

To succeed, you want to be sure you know who your competitors are, how they operate, necessary financial benchmarks, and how you're business will be positioned. Start by identifying who your competitors are or will be during your market research. Then leverage competitive analysis tools like the competitive matrix and positioning map to solidify where your business stands in relation to the competition.

Marketing & sales

The marketing and sales plan section of your business plan details how you plan to reach your target market segments. You'll address how you plan on selling to those target markets, what your pricing plan is, and what types of activities and partnerships you need to make your business a success.

The operations section covers the day-to-day workflows for your business to deliver your product or service. What's included here fully depends on the type of business. Typically you can expect to add details on your business location, sourcing and fulfillment, use of technology, and any partnerships or agreements that are in place.

Milestones & metrics

The milestones section is where you lay out strategic milestones to reach your business goals.

A good milestone clearly lays out the parameters of the task at hand and sets expectations for its execution. You'll want to include a description of the task, a proposed due date, who is responsible, and eventually a budget that's attached. You don't need extensive project planning in this section, just key milestones that you want to hit and when you plan to hit them.

You should also discuss key metrics, which are the numbers you will track to determine your success. Some common data points worth tracking include conversion rates, customer acquisition costs, profit, etc.

Company & team

Use this section to describe your current team and who you need to hire. If you intend to pursue funding, you'll need to highlight the relevant experience of your team members. Basically, this is where you prove that this is the right team to successfully start and grow the business. You will also need to provide a quick overview of your legal structure and history if you're already up and running.

Financial projections

Your financial plan should include a sales and revenue forecast, profit and loss statement, cash flow statement, and a balance sheet. You may not have established financials of any kind at this stage. Not to worry, rather than getting all of the details ironed out, focus on making projections and strategic forecasts for your business. You can always update your financial statements as you begin operations and start bringing in actual accounting data.

Now, if you intend to pitch to investors or submit a loan application, you'll also need a "use of funds" report in this section. This outlines how you intend to leverage any funding for your business and how much you're looking to acquire. Like the rest of your financials, this can always be updated later on.

The appendix isn't a required element of your business plan. However, it is a useful place to add any charts, tables, definitions, legal notes, or other critical information that supports your plan. These are often lengthier or out-of-place information that simply didn't work naturally into the structure of your plan. You'll notice that in these business plan examples, the appendix mainly includes extended financial statements.

Types of business plans explained

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. To get the most out of your plan, it's best to find a format that suits your needs. Here are a few common business plan types worth considering.

Traditional business plan

The tried-and-true traditional business plan is a formal document meant to be used for external purposes. Typically this is the type of plan you'll need when applying for funding or pitching to investors. It can also be used when training or hiring employees, working with vendors, or in any other situation where the full details of your business must be understood by another individual.

Business model canvas

The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

The structure ditches a linear format in favor of a cell-based template. It encourages you to build connections between every element of your business. It's faster to write out and update, and much easier for you, your team, and anyone else to visualize your business operations.

One-page business plan

The true middle ground between the business model canvas and a traditional business plan is the one-page business plan . This format is a simplified version of the traditional plan that focuses on the core aspects of your business.

By starting with a one-page plan , you give yourself a minimal document to build from. You'll typically stick with bullet points and single sentences making it much easier to elaborate or expand sections into a longer-form business plan.

Growth planning

Growth planning is more than a specific type of business plan. It's a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, forecast, review, and refine based on your performance.

It holds all of the benefits of the single-page plan, including the potential to complete it in as little as 27 minutes . However, it's even easier to convert into a more detailed plan thanks to how heavily it's tied to your financials. The overall goal of growth planning isn't to just produce documents that you use once and shelve. Instead, the growth planning process helps you build a healthier company that thrives in times of growth and remain stable through times of crisis.

It's faster, keeps your plan concise, and ensures that your plan is always up-to-date.

Download a free sample business plan template

Ready to start writing your own plan but aren't sure where to start? Download our free business plan template that's been updated for 2023.

This simple, modern, investor-approved business plan template is designed to make planning easy. It's a proven format that has helped over 1 million businesses write business plans for bank loans, funding pitches, business expansion, and even business sales. It includes additional instructions for how to write each section and is formatted to be SBA-lender approved. All you need to do is fill in the blanks.

How to use an example business plan to help you write your own

How do you know what elements need to be included in your business plan, especially if you've never written one before? Looking at examples can help you visualize what a full, traditional plan looks like, so you know what you're aiming for before you get started. Here's how to get the most out of a sample business plan.

Choose a business plan example from a similar type of company

You don't need to find an example business plan that's an exact fit for your business. Your business location, target market, and even your particular product or service may not match up exactly with the plans in our gallery. But, you don't need an exact match for it to be helpful. Instead, look for a plan that's related to the type of business you're starting.

For example, if you want to start a vegetarian restaurant, a plan for a steakhouse can be a great match. While the specifics of your actual startup will differ, the elements you'd want to include in your restaurant's business plan are likely to be very similar.

Use a business plan example as a guide

Every startup and small business is unique, so you'll want to avoid copying an example business plan word for word. It just won't be as helpful, since each business is unique. You want your plan to be a useful tool for starting a business —and getting funding if you need it.

One of the key benefits of writing a business plan is simply going through the process. When you sit down to write, you'll naturally think through important pieces, like your startup costs, your target market , and any market analysis or research you'll need to do to be successful.

You'll also look at where you stand among your competition (and everyone has competition), and lay out your goals and the milestones you'll need to meet. Looking at an example business plan's financials section can be helpful because you can see what should be included, but take them with a grain of salt. Don't assume that financial projections for a sample company will fit your own small business.

If you're looking for more resources to help you get started, our business planning guide is a good place to start. You can also download our free business plan template , or get started right away with LivePlan .

Think of business planning as a process, instead of a document

Think about business planning as something you do often , rather than a document you create once and never look at again. If you take the time to write a plan that really fits your own company, it will be a better, more useful tool to grow your business. It should also make it easier to share your vision and strategy so everyone on your team is on the same page.

Adjust your plan regularly to use it as a business management tool

Keep in mind that businesses that use their plan as a management tool to help run their business grow 30 percent faster than those businesses that don't. For that to be true for your company, you'll think of a part of your business planning process as tracking your actual results against your financial forecast on a regular basis.

If things are going well, your plan will help you think about how you can re-invest in your business. If you find that you're not meeting goals, you might need to adjust your budgets or your sales forecast. Either way, tracking your progress compared to your plan can help you adjust quickly when you identify challenges and opportunities—it's one of the most powerful things you can do to grow your business.

Prepare to pitch your business

If you're planning to pitch your business to investors or seek out any funding, you'll need a pitch deck to accompany your business plan. A pitch deck is designed to inform people about your business. You want your pitch deck to be short and easy to follow, so it's best to keep your presentation under 20 slides.

Your pitch deck and pitch presentation are likely some of the first things that an investor will see to learn more about your company. So, you need to be informative and pique their interest. Luckily, just like you can leverage an example business plan template to write your plan, we also have a gallery of over 50 pitch decks for you to reference.

With this gallery, you have the option to view specific industry pitches or get inspired by real-world pitch deck examples. Or for a modern pitch solution that helps you create a business plan and pitch deck side-by-side, you may want to check out LivePlan . It will help you build everything needed for outside investment and to better manage your business.

Get LivePlan in your classroom

Are you an educator looking for real-world business plan examples for your students? With LivePlan, you give your students access to industry-best business plans and help them set goals and track metrics with spreadsheet-free financial forecasts. All of this within a single tool that includes additional instructional resources that work seamlessly alongside your current classroom setup.

With LivePlan, it's not just a classroom project. It's your students planning for their futures. Click here to learn more about business planning for students .

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10 Creative Company Profile Examples to Inspire You [Templates]

Published: December 16, 2022

Free Company Profile Templates

Outline your company profile in one simple, shareable plan.

• Summarize your company
• Dive into your history
• Introduce your team
• Highlight achievements

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What do your customers know about you? Do they know you sell products and have a website? That’s not always enough to build a brand identity that resonates with buyers and establishes your brand as the right choice. 

People who find you online want to know about your company’s mission, vision, and, of course, how you can help them solve their problems. And, an impactful and memorable first impression can help you stand out in the digital world.

How can you make sure that they have all that information at their fingertips? Well, a company profile is the perfect tool for the job.

In this article, we'll discuss:

• What a Company Profile is
• How to Write a Company Profile

Company Overview Template

Company profile examples.

• Company Description Examples

Company Profile Templates

You're all set!

Click this link to access this resource at any time.

Fill out this form for 6 free company profile templates.

What is a company profile.

A company profile introduces a business's mission, goals, vision, and history. In most cases, a profile includes an 'About Us' section that narrates how the company was founded, its why’s, and a section that introduces leadership team members.

A company profile serves multiple purposes, but two of its primary goals are to connect with customers and attract investors for funding opportunities.

Why Company Profiles are Important

Company profiles go a step beyond the standard “about” page. They share how your company got started — and why you continue to serve customers.

Here are some of the reasons why having a company profile is important:

1. A company profile differentiates your brand.

A company profile describes what makes your company unique. It automatically differentiates your brand because no other company has the exact same founding story and reason for existing that your business does. Your history and values are integral parts of your brand positioning strategy, and a company profile is where you can mention this information without it feeling extraneous or out of place.

2. A company profile may justify a higher price point.

You can justify a higher price point for your products and services, if you go into details about your production values or ethically-sourced materials.

For instance, Starbucks’ coffee may not necessarily be better than Dunkin’ Donuts’ coffee, but because Starbucks goes into details about its high-quality ingredients, it immediately creates the sense that you’ll be paying a little more for a "better" product.

3. A Company profile builds your reputation.

What do you want your company to be known for?Is your company the one that started as a small family-owned shop that grew into a billion-dollar enterprise? Or is it a company that upholds sustainability and puts ethics at the forefront of its brand? You can build your reputation through marketing, service, and sales campaigns, but it all begins with a well-curated first impression.

How to Write a Company Profile in 10 Steps

• Start with a company profile template.
• State the purpose of the company profile.
• Decide on your company profile design.
• Tell your story & be authentic.
• Add your company's mission statement.
• Write your company's history.
• Describe the products and services you offer.
• Name the awards your company has received.
• Add your customer's testimonials.
• Include a call to action.
• Add your company's contact information.

Now that you understand the importance of a company profile, it’s time to learn how to write one. Creating a company profile doesn't have to be nerve-wracking. In fact, it can actually be rather straightforward.

Here are 11 steps to guide you on how to write your company profile.

1. Start with a company profile template.

No need to start from scratch. We created six free company profile templates for you to organize and share your profile. Download these templates for free and follow along with the next steps in this article. 

2. State the purpose of the company profile.

This is the most critical part when writing an effective company profile. You want to make sure that the statement aligns with what you're trying to accomplish. For instance, if your goal is to attract investors, you can include:

• Your business's performance
• The value of the products you sell
• The company's revenue

On the other hand, if you want to attract customers, it's best to add the company values to your profile.

The purpose of a company profile should act as your guide throughout the process, so take your time on it.

3. Decide on the format or style.

How you present your profile significantly affects how successful it is. It's important that the style offers excellent readability and encourages the audience to engage with it.

This depends on your audience – for example, it's best to stick to the traditional format for an accounting firm. That is, list the company's achievements and awards.

On the other hand, if you're in a fashion or social media marketing firm, it's advisable to be creative and visual. Byte/Dept, for example, is a marketing technology company with a creative and visual homepage that is in line with what it offers. 

Don't be afraid to experiment or go wild with your ideas as long as they resonate with your target audience.

4. Tell your story & be authentic.

There are probably a million other businesses that sell what you're selling, but no one else shares your story. Your story is what makes you unique. Don't just write numbers and dates; let your prospects know who you really are. Be vulnerable and tell them why you started your business.

What inspired you? Share the bad and the good – it doesn't have to be glamorous. It only has to be authentic.

5. Add your company's mission statement.

If you don't have a mission statement , it's time to craft one. Writing a mission statement for your company isn't as scary as it sounds, and there is no need to overthink it. You only need to ask yourself these three questions:

• Who you serve – this is your target consumer
• How do you do it – what product or service do you provide to solve their problems?
• What makes you different – why should your consumers buy from you or trust you over your competitors?

6. Write your company's history.

This needs to be in chronological; otherwise, it will confuse your readers. You can do it in a paragraph or a timeline format as long as it shows a flow.

Another tip is to remember that less can be more. As tempting as it is to share all your milestones, stick to the major ones to avoid overwhelming the reader.

7. Describe the products and services you offer.

The next step is to describe what your company offers. You can choose a few of your best products or services and give an in-depth description or simply list down everything your business offers.

8. Name the awards your company has received.

If you have received any awards or recognition, add them to your profile and describe them. They showcase your company's values and give the community a reason to trust you.

9. Add your customer's testimonials.

Your customers may take everything you say with a grain of salt, but they will believe other customers who have used your products. This is an excellent way to promote your business without having your products or services come off as hard-sell.

If you're a B2C business, simply include some of your customer's best quotes, tied with your best value products. If you're a B2B business, have a testimonial from the most prominent client on your profile.

Hedley & Bennett , a restaurant wear company, features customer reviews and testimonials on its homepage. 

10. Include a call to action.

This isn't mandatory, but it's a nice touch to your company's profile. What do you want the readers to do after reading the profile? Visit your branch, check out your website, or call you? Simply include it at the end of your profile. This brings us to our last step.

11. Add your company's contact information.

This is one of the most critical parts of the company profile. Include all the possible ways your prospects can reach you. This may include but is not limited to; social media profiles, websites, phone numbers, fax, email, and physical address.

Make sure it's visible to anyone who reads your company profile.

Now that we have gone through all the necessary steps you need to create a company profile, it's time to put all that into action. Here is a simple company overview template that will help you get started.

[Company name] was founded in [Year], and we have accomplished so much over the years. To create a world where [ the solution your business solves] has always been our goal.

Our Founder and CEO [Name] was inspired to start this company by [ one or two sources of inspiration].

At [Company Name], we encourage our community to [ a positive statement related to your brand].

Meet our Team

[Photo] [Name] [Job Title]

Our Mission, Vision & Values

Our goal is to provide our customers with the best [ service or product] at the best possible market price without compromising quality.

To be the most reliable [ service or product] provider and enhance [what your product or service does].

Core values

[List your company's core values]

What Our Customers are Saying

[Insert customer's testimonials]

Contact Information

Website URL

Social Media Pages

Cell Number

1. Starbucks

Starbucks' company profile has it all — its mission, background story, products, store atmosphere, and even folklore regarding the name. Best of all, they manage to pull off sounding genuine and grandiose. I don't know many other coffee stores that could claim that their mission is “to inspire and nurture the human spirit.”

Starbucks' company profile is a fantastic example of a store with a common household product: coffee. Starbucks managed to stand out from the competition through its mission and values.

2. Wales Bonner

If your company has an exciting and intellectual history, you might consider creating a profile like Wales Bonner’s. It begins with an impactful statement: “Wales Bonner proposes a distinct notion of cultural luxury that infuses European heritage with an Afro Atlantic spirit. Launched by Grace Wales Bonner following her graduation from Central Saint Martins in 2014, the label is informed by broad cultural research and embraces a multiplicity of perspectives.”

After sharing the brand’s intellectual background, it describes the owner’s journey in building the company, starting from the time she was a college student, as well as the accolades she has received through her ingenuity in design. With a good balance of image and text, the timeline serves as a reminder of Wales Bonner’s stability and growth.

3. Diehl Group Architects

Consumers use video as an integral part of their journey with brands , so you might consider using a compelling video to convey your company’s story as Bloomberg does in its company profile.

Bloomberg's profile proves the company knows its audience because they offer quick statistics and links to other areas of the site, such as Careers and Tech. While other businesses might do well in offering a creative, long-form story, Bloomberg's typical demographic is likely more analytical.

Nike's company profile portrays a larger, grander vision, compelling an audience to believe in its brand before purchasing a product.

6. Seattle Cider

Seattle Cider Company's profile is minimal and engages viewers through compelling animations that demonstrate the company's cider selection. The page flows seamlessly and provides critical information regarding the product before displaying the company's mission and values. This profile is a good example of a company that understands its users' concerns (in this case, quality ingredients), and addresses those issues while still displaying personality and flair.

Topicals is a skincare company that provides products and education to help people target and learn about flare-ups. It has a one-of-a-kind about us page that is interactive and provides a fun experience for site visitors. 

When you land on the page, you immediately see multiple interactive cards, the first of which features a description of its mission. Once you’re done reading about its purpose, you can learn more about the company by clicking on the other cards, or simply selecting the information that is most relevant to your needs.

Examples of Company Descriptions

Here are some examples of company descriptions that enhance their organizations' company profile.

Landed, Inc’s About Us page begins with a brief description that explains why it exists: “Buying a home is more than a milestone, it’s a key to building a strong financial future.” From there, it talks about its mission, how it helps people buy homes, and a brief company history and description. 

3. H&H Wealth

4. Dope Coffee

Dope Coffee aims to bridge the gap between coffee, hip hop, and culture to uplift the Black community. Its website describes the company's history and mission, but a single line sticks out as a powerful and impactful description of its business to take inspiration from: “We are Dope Coffee Company, and we are changing the world one cup of coffee at a time.”

5. Authentique Agency

Authentique Agency provides the perfect amount of information upfront to describe what it is and its mission and values — leveraging the power of identity in brand campaigns that reflect cultural identities rather than erasing them. It’s a great example of how to quickly and succinctly get your message across to site visitors. 

The Cru is a service that connects members with like-minded women to fuel personal and professional growth. It uses an "Our Story" page as a company profile, where the founder details how she formed the organization and how she owns "Cru" (a play on the word “crew”). This summary is a testament to the value of the service. The "letter from the founder" style also feels very personal and welcoming.

7. H.J Russell & Company

H.J Russell & Company opens up its description with its history and specialties: "H. J. Russell & Company, founded over 70 years ago, is a vertically integrated service provider specializing in real estate development, construction, program management, and property management." It also makes its values clear in the last sentence, so you get a snapshot of the company’s key proposition and leadership status in just a few sentences. It also includes critical numbers that inform people of its expertise, from the number of projects completed to the properties it manages. 

8. Carol H. Williams

Cafe Con Libros doesn’t have an about us page, but it does have a company description that clearly explains its mission and values in two short sentences: “Cafe con Libros (coffee with books) is an Intersectional Feminist community bookstore and coffee shop. Through our choice of books, programming, and great coffee, we endeavor to create a vibrant community space where everyone; specifically womxn-identified folx, feel centered, affirmed and celebrated.” 

10. Custom Collaborative

Custom Collaborative helps no/low-income immigrant women build entrepreneurship skills that help them succeed in sustainable fashion. Its about us page features essential need-to-know information for anyone looking to them for support, interested in donating to the cause, or simply looking to learn more about the business. 

If you want to add your company history in a more compact way, consider adding a company timeline, like this one :

Our Product / Services

Describe a high-level overview of what your product is, and how you hope it will positively impact the user's life. You can link to a Product page if necessary, so keep this section relatively general.

Start Your Company Profile Today

There are a few elements that can contribute to a stellar company profile, and by adhering to a template, you can build one quickly and effectively.

Don't forget to share this post!

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Top 10 Company Description Example Templates With Samples

Madhusheel Arora

Let us start this blog with a one-off quiz. See if you can guess which company its founder is talking about here in this example. Here we go, as picked up verbatim from the company’s website:

XX (Company name) is not a conventional company. We do not intend to become one. As part of that, we also said that you could expect us to make smaller bets in areas that might seem very speculative or even strange when compared to our current businesses.

We did a lot of things that seemed crazy at the time. Many of those crazy things now have over a billion users.

This 68-word excerpt is part of a longish company description on the website of…?

Well, let us keep it a secret till you see how can you write the best company description for yourself or your clients that hits home to the degree that the above example does.

In essence, a company description is an overview of the business you are in, expressed in a structured, memorable format. Apart from the mission and vision statement, it is your chance to create content that builds a brand with incredible recall.

A company description is your answer to, “What exactly do you do in your business?” This simple question, asked of many of us at social dos or in casual conversations is incredibly hard to answer well.

Yet, it pays to do it, to create it, with passion and intense brain-storming, as it gives you a connect with investors and starts the customer on their engagement journey. Your products and services, history and finances are the other major ingredients that make up an exceptional, stay-in-your-mind company description.

A company description is more about the intangibles and the many small ways in which you make a difference to customers’ lives. A business summary, on the other hand, is about the tangible things and how to get things done, and move the enterprise from point A to point B. Click here to get SlideTeam’s world-class business summary templates for your needs.

This blog offers you the best-in-class templates on company descriptions that will help you stand out from the crowd. The idea is to describe your company so well that people feel your business is part of their lives, just after a single read (now mostly consumed over the internet).

These PPT Presentations also help explain each of the concepts that company descriptions entail, both from the business viewpoint and from your own unique perspective.

The aim is for you to know that writing an exceptional company description signals more than just great writing. It is a signal of your commitment to the very idea of what you are willing to work for, day-in-day-out.

The 100% customizable nature of the templates provides you with the desired flexibility to edit your presentations. The content-ready slides give you the much-needed structure.

Let’s dig in.

Template 1: Company Description of Digital Payment firm Investor Funding Elevator Brief

An impressive way to describe your company is minimize the words, but showcase the facts and figures that make you unique. This PPT Presentation allows you to showcase revenue, give out your mission and explain them in significant detail. Describe your key product offerings, the difference you make to the world and how this is very fulfilling for your business as well. In this instance, the example is of a payment firm, but you can key in your own facts and figures to create a compelling company description for the ages. It will both be a pitch and a statement of confidence in your longevity. Download now!

Get it now!

Template 2: Company Description Mission and Vision, with Hours

This PPT Presentation gives an emerging start-up the perfect platform to showcase its company name and products or services offered. In this case, it is a restaurant, but at the cost of repetition, the 100% customizable nature of the template means you can make it your own in a jiffy. Use this company description to target customers as well, with management personnel also part of the early introduction. The bold, aesthetic design captures attention and compels action. Download now to impress investors and win clients.

Template 3: About Our Company Description with Image PowerPoint Guide

Use this PPT Presentation to emphasize your professional credentials adding a bit about the company history, name, and move on to products or services. The attractive format allows for the management team to be featured as well. In this instance, it is just the CEO, but you can have more leaders in there. The image on the right of the presentation template is your chance to send a visual message on what your company is about, subliminally, an important concept in marketing. Download now!

Template 4: Company Description Competitive Analysis Sales Marketing

The six-stage editable PPT graphic for company description goes about achieving its goals in a methodical manner. The six stages in which you can describe your company are your own choice, but typically you can customize this template into business structure; ownership/management team; products/services offered; marketing and sales overview; funding request, and financial projections. Download now to showcase your commitment to your business with a rocking description.

Template 5: Company Description for Retail Industry Business Plan for Start-up

In retail, a start-up must build recall and this template provides you the means to do it. The attractive PPT Template gives the description in a simple, clear manner to ensure customers cannot miss its location and its USP of hot, good quality food at affordable prices. Download now, and reap the benefits of a clear vision and energy that marks start-ups and the way they scale up.

Template 6: Corporate Development Covering Executive Summary Company Description

This company description PPT Template allows you the luxury of approaching the task in a nuanced way in seven stages, that you may zero in on your own. For instance, for a food business, this could be the quick service highlight, the source of the ingredients, or the investors and the chef, etc. In all cases, the focus has to be on the processes and the people that bring life and the pulsating feeling of targeting, engaging, and delighting the customer. Get this presentation template now.

Template 7: About the Company Description PowerPoint Themes

Not all leadership is done with cymbals and drums from the front; you can also lead a team from the back; Nelson Mandela, one of the most iconic world leaders, used to say. This is true for this company description PPT Theme, where your entire communication serves to describe your business. The design communicates the business clearly and the color theme indicates mastery over the concept. In any case, the presentation template is all set to be molded to your wishes, within minutes. Download now to showcase your mastery of your domain.

Template 8: Focus Group Summary with Company Description, Key Drivers and Demographics

This is perhaps one of the most important and unique ways to arrive at a company description, as it uses the key stakeholder, the customer. A focus group is a representative set of customers (six to ten individuals) that you may choose to give you their time and feedback. In business terms, this focus group will give you the ideal company description as you are perceived by them (the most influential stakeholders to the course of your business; after all, they are customers). They will also give you key drivers that you must take care to incorporate. Finally, include target demographics and a line on their attitude and behavior. Download now to arrive at a company description that is framed with its ear to the ground. Download now!

Template 9: Business Flyer giving Description of Company Service and Contact

This PPT Presentation is a classy take on the idea of company descriptions. Use this to emphasize how your values are dear to you, and include customer service as the main plank. On a more practical design, the design, in the form of a flyer, allows you to list the ‘who we are’; what we do and why choose us in short, deep one-liners. The contact us section and the description on the bottom of the picture (you will place your own workplace here) is a brilliant innovation, Download now!

Template 10: Company description for Food Start-Up Business

This practical, earthy company description about a restaurant start-up adds unbeatable value to the business. With everything that the target customer requires catered to in the description, this PPT Presentation makes the unpalatable into something beautiful and relishing. The design (glasses used to highlight hours of operation) marks your business out as one that will grow quickly into a fine-dining operation. The cost factor is also discussed, as the restaurant business is seductive, but only few get it right. Use this to showcase your awareness of the pitfalls in terms of the need to control labor cost, etc. Download now!

ARTICULATE WELL

Customers are like a jigsaw puzzle. With company descriptions, businesses have a chance to ignite curiosity and help them take the first step to know what you offer. This is not a small victory. Describe your company well with the clear showcasing of your commitment and why you do what you do.

On these lines, companies also need to be mindful to check why they do what they for introspection. If your staff is too uniform, then diversity and inclusion is the answer. Find a comprehensive course on diversity, inclusion, and equity here to add heterogeneity to your business. Click here to get the course, with training material included.

By the way, the answer to the question the blog started with is Google, which is technically 1 followed by a billion zeroes. Imagine that for a second!

P.S. Business plan summaries help operationalize the mission and vision a company description rolls out. Find the best-in-class presentations on business plan summaries with a click here .

FAQs on Company Descriptions

How to introduce your company.

This is both a science and an art. The introduction has to be simple, yet engaging to the customer, while also ensuring that investors don’t find it too flowery and without any business relevance. Here are two top tips to introduce your company:

A. Start with what you do, in an interesting way. For instance, Google may say: We sort out the world’s information B. Include what your customer gets; for instance, answers to every question of yours (in the case of Google)

How do you write a company description; what should it include?

A company description has no formula to it, but it needs to be an overview of your business and why you do what you do. It is written with a structure, only to the extent of being understandable to customers.

For instance, start with what you make, then why you do it and so on. Technically, good company descriptions are all about showcasing how relevant you are to the customers in terms of product and service offerings. It is also an opportunity for you to exhibit how committed you are to your craft, and that’s why you make a difference to customers’ lives.

How can I write about my company?

Writing about your company will come from experience, and from the meaning you attach to your business. If it is only to make money, your company description will reek of that and will not be a successful one. To write an engaging company description, you need to be in touch with the customer pain point and the solutions you are providing to them (be it B2B or B2C). Your company description needs to be specific and geared to an end. Finally, remember that it is such an important part of your business profile that outsourcing it to professional could always be better and more cost-effective in the long run. Provide the third party your inputs and let them weave their magic.

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How to Write the Business Plan Products and Services Section

Get tips on writing the products and services part of your business plan

• The Products and Services Section
• What to Include
• Tips on Writing the Section

The products and services section of your business plan is more than just a list of what your business is going to provide. This section of your business plan should include details about how you'll price products and services, how you'll fulfill orders, and other details that investors need to hear before you can get funding . Learn more below.

Key Takeaways

• Business plans include details about products and services you'll offer, including exactly how you plan to market, sell, and deliver on customer orders.
• The best business plans are clear and concise.
• The products and services section of your plan should show off why your product or service is needed.
• The products and services section should also convey the expertise and experience you have to succeed.

Why You Need a Products and Services Section in a Business Plan

The business plan products and services section is the centerpiece of your plan. While other sections of your business plan are important, the products and services section is the essence of your business and the point around which every other part of the business plan is built .

What to Include in a Products and Services Section

The products and services section of your business plan outlines your product or service, why it's needed by your market, and how it will compete with other businesses selling the same or similar products and services.

Your products and services section should include a description of the products or services you are offering or plan to offer (including future products or services). You should explain how your products and services will be priced and a comparison of the products or services your competitors offer in relation to yours.

You should also include the sales literature you plan to use. Detail your marketing materials, and clarify the role your website will play in your sales efforts.

The products and services section will include a paragraph or so on how orders from your customers will be processed or fulfilled, as well as any needs you have to create or deliver your products, such as up-to-date computer equipment. If your process depends on intellectual property or legal issues, such as trademarks , then those need to be addressed.

Tips on Writing the Products and Services Section

This section of your business plan should excite those you're hoping will fund your business or work with you. To that end, here are a few tips to create a products and services section that appeals to the reader.

Indicate Why Your Product or Service Is Needed

Especially if you're venturing into a new concept or invention, or a place where there is no current market, you need to explain the need for your product or service.

Highlight the Features of Your Product or Service

A crucial part of business success is the ability to set yourself apart from other businesses that sell the same or similar products and services. What features, such as price point or level of service, do you offer that are unique to you?

Focus on Benefits

Unique features are important, but even more vital is how those features provide value to consumers. Translate your features (i.e., faster or cheaper) into benefits (i.e., get it now or save money). The goal is to highlight how your product or service will fix a problem or improve a client or customer's life.

Be Clear and Concise

Don't let your business plan get bogged down in too much description and information. Use bullets or numbered lists to quickly and easily highlight important information.

Show Off Expertise, Experience, and Accolades

You not only want to describe your products and services but also share why you're the best person to provide them. Include anything in your education or experience that makes you an expert in this business. If you have testimonials, awards, or endorsements, share those. Finally, if you've applied for a patent, copyright, or trademark, include that as well.

Be the Expert, But Use Layman's Terms

You should know your product, service, and industry well, but don't expect your potential funders and partners to have the same level of knowledge. Assume the reader doesn't know as much as you when you explain what you're offering.

Avoid acronyms and jargon when outlining your products and services.

Indicate What's Special About Your Products or Services

Will you be offering a special guarantee or refund policy? Do you have a quicker or more unique way of delivering your product or service? 

Speak to Your Customer

While you don't want to write an advertorial, you do want to be customer-oriented when you write your products and services section.

Examples of a Products and Services Section

The Small Business Administration offers business plan examples that you can draw from to help guide your writing. Here's an example of a products section for someone creating "Wooden Grain Toys."

Wooden Grain Toys will sell wooden toys made from solid hardwoods (maple, beech, birch, cherry, and oak) and steel rivets. The toys are handcrafted and designed for small children to easily use. Our line currently includes the following nine models:

• All-Purpose Pick-Up Truck w/movable doors and tailgate
• Dump Truck w/functioning dumping mechanism and box
• Biplane (two-seater) w/movable propeller
• Steam engine with coal tender - additional cars available separately: caboose, flat car w/logs, box car, tank car, coal car
• Flat-Bed Truck w/logs

Wooden Grain Toys will offer its products for the following prices:

• All-Purpose Pick-Up Truck w/movable doors and tailgate - $25
• Dump Truck w/functioning dumping mechanism and box - $30
• Biplane (two-seater) w/movable propeller - $20
• Additional train cars (single car) - $5
• Additional train cars (three cars) - $12
• City Bus - $12
• Tow Truck - $18
• Flat-Bed Truck w/logs - $35
• Sports Car - $20
• Sedan - $20

What Is Product and Service in a Business Plan?

A products and services section of a business plan clarifies exactly what your business will produce , how much it'll sell for, and other details along those lines.

What Are Examples of Products and Services?

A product or service can be anything a business creates to turn a profit. Some businesses have both products and services. For example, a restaurant's services include cooking for and serving customers. The restaurant's products are the dishes and drinks it creates.

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Privately owned vehicle (POV) mileage reimbursement rates

GSA has adjusted all POV mileage reimbursement rates effective January 1, 2023.

Airplane nautical miles (NMs) should be converted into statute miles (SMs) or regular miles when submitting a voucher using the formula (1 NM equals 1.15077945 SMs).

For calculating the mileage difference between airports, please visit the U.S. Department of Transportation's Inter-Airport Distance website.

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PER DIEM LOOK-UP

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Rates are available between 10/1/2021 and 09/30/2024.

The End Date of your trip can not occur before the Start Date.

Traveler reimbursement is based on the location of the work activities and not the accommodations, unless lodging is not available at the work activity, then the agency may authorize the rate where lodging is obtained.

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