The Business Plan

Read this section to see why business plans are essential and what sections should be included.

Industry Analysis

This section provides a brief introduction to the industry in which you propose to operate. It describes both the current situation and the future possibilities, and it addresses such questions as the following:

  • How large is the industry? What are total sales for the industry, in volume and dollars?
  • Is the industry mature or are new companies successfully entering it?
  • What opportunities exist in the industry? What threats exist?
  • What factors will influence future expansion or contraction of the industry?
  • What is the overall outlook for the industry?
  • Who are your major competitors in the industry?
  • How does your product differ from those of your competitors?