05. Business plan contents: Summary
Although the summary is the first section that people will read, it should probably be written last. The summary should briefly describe the business and highlight its purpose. It should explain how the purpose will be achieved and why the proprietor is the person to make it happen.
If one of the uses for your business plan is to raise finance, then a clear, simple outline will catch the attention of prospective funders and make them interested enough to read on. Remember that the people assessing your business are likely to be very busy. Highlight the strengths of the business and why you should be supported. Indicate the expected turnover and profitability for the following year. If you are already in business, briefly describe your history to-date and, in particular, provide details of turnover and profitability for the previous one or two years. How does the business' performance compare with your competitors? What have been its major achievements?
Lastly, indicate how much money you need to raise and the proposed sources.
Fat Frog Design
Fat Frog Design will provide a graphic design and desktop publishing service throughout the North East of England and other areas within the UK.
In providing this service, it is believed that Fat Frog Design will attract clients through the introduction of an annual design package, a competitive edge through pricing and attention to the detailed needs of each individual client through designer/client liaison.
Although the present market is extremely competitive, Fat Frog Design have found through extensive market research that there is a definite demand for Fat Frog Design’s features and benefits, such as the annual design package, which none of its competitors offer.
Once Fat Frog Design has become established and has gained a reputation for quality and reliability within the North East, the business hopes to expand its range of services throughout the UK, thereby increasing its client base, its turnover and ultimately its profits.