Piecing together the various section of a business plan will take time, patience, and a lot of thinking and re-thinking about your franchise venture and its future success. Whether you are writing your plan from scratch, following an established format, or using a computer-generated template, the anatomy your business plan should contain seven key sections.
Introduction
The writing of your business plan can take from two weeks to two months, depending on the progress of your research, your writing skills, and the work to be completed by outside individuals. The average length should be between 20-30 pages. Many of the sections require you to write a brief introduction in paragraph form, followed by sub-section and bulleted points. You should avoid using pictures or graphics if your plan is intended for a lender.
When you’ve created your first draft, your review of the plan may indicate a missing need for a special sub-section that pertains to your specific business model. If the template doesn’t offer such a sub-section, put it in because the more specific your plan reads, the better your reader will understand the business you plan to enter.
Keep your sentence structure clean and simple. Avoid using too many professional or industry cliches and terminology that the average reader won’t understand. Do not use street talk or jargon. Type your draft using the Times New Roman font in 12-point type. Avoid using too much bold or italics in the body of your plan – these should be used for section headings and sub-heading. Before printing and submitting, check for spelling errors and typing blips such as double spaces, extra periods etc.
Note: If you are using a computer-generated template, you may notice sections that are not included in this article but can serve a purpose for your specific business plan. It is up to you to include what the template offers, delete it, or add content that may be more of interest to your reader. Remember, no two business plans will read the same but their impact on the reader has to achieve the same goal, whatever that goal may be.
You will find a link to a business plan template at the end of this article.
Section #1: The Executive Summary
The Executive Summary is just that: an introduction or overview of what the reader will find in the body of the plan. The first few lines should state what the objective of the plan will be in very specific terms, i.e. to acquire funding from ABC Bank in the amount of $100,000 etc. Basically, the Executive Summary covers one or two of the most important points of each section in the plan. And, it should be written last because all the information contained herein still needs to be written.
Section #2: Company Description
The Company Description gives the reader a snapshot of the business concept you are pursuing and what you are going to bring to it. This is your franchise’s resume and you as its reference. You should also provide a concise overview of the related industry and any prior business experience you may have in it. Describe what your role in the business will be, some of your goals and objectives, and further specifics about the corporate ownership, any share structures, and a list of advisors, mentors, and professional associations you belong to.
