Internal plans provide information about project marketing, hiring and tech costs.
This document will describe the company’s current state, including operational costs and profitability, then calculate if and how the business will repay any capital needed for the project.
Your market is the group of customers that are likely to purchase your goods and services.
Include figures or charts that illustrate recent market trends, economic forecasts, regional demographics, regulations and any other substantial factor that is likely to affect the market for your product or service.
If you want to open a pharmacy in a small town that currently has no pharmacy, the competition in your industry is very different than if you want to open a pharmacy in a metropolis that already has a pharmacy on nearly every corner and additional branches in every supermarket. Maybe you offer free delivery or online ordering that will set you apart in the industry.
If you’re new to the business world, taking a small business management or accounting course is a valuable investment in the future of your business.