Product
& Service Description: Business Plan Basics
The product/service section is one of the
most important parts of your business plan. It's your chance
to clearly explain you products/services, identify their features
and benefits, and discuss what needs or problems they address
in the market.
Product Overview
If you are selling a product, your reader will want
to know what it is, what it does, and its features and benefits.
Consider including pictures if they would help your reader
get a better understanding of your product. Discuss its size,
shape, color, cost, design, quality, capabilities, technological
life-span and patent protection. You may also wish to explain
how it is produced, the materials required, and the type of
labor needed.
Service Overview
If you offer your customers a service, explain what
that service(s) are, how they work, and what need they address
in the marketplace. Where will you operate? What makes your
service different? What materials or equipment is needed?
What are your days and hours of operation? Explain the steps
in your service process and the benefits you offer your clients.
Write this section with enough information to satisfy an outsider's
need to understand your service without boring them with trivial
details.
For more information about preparing the product and service
section of a business plan, check out:
Email
us at BizPlanIt if you have comments or suggestions about
our Virtual Business Plan.
|
