In the Products and Services section of your business plan, you will clearly describe--yep--the products and services your business will provide.
How do you write the Products and Services section of a business plan? It may be necessary to give some basic background if this is an area or industry people are unfamiliar with. While you write up the Products and Services section of your business plan, keep your reader in mind.
Things that you might take for granted or know inside-out might not be common knowledge to potential lenders or investors. As you write, avoid being too technical, assuming too much knowledge from your readers, and using buzzwords.
Here are the points you want to write up in the Products and Services section of your business plan: The Product or Service Description What is your product or service, and how does it work?
How does it benefit customers? How do you make it or how will you get it made? Why would someone choose to buy your product or do business with you over someone else?
Gotten approvals from industry experts? Did you trademark, copyright, or patent your product? These can add substance and credibility, so be sure to mention them. Lifecycle Where are you currently with this product or service?
Is it in the idea stage or do you have a prototype? Have you produced some and are looking to expand? Have you started offering this service already or are you still in the planning stages?
Sales and Distribution Strategy How will you sell it? Will you market it online or in retail stores? Have you lined up any vendors?
Fulfillment How will you fill orders or deliver the service? Will you manufacture items yourself or outsource to someone else?In the Products and Services section of your business plan, you will clearly describe--yep--the products and services your business will provide.
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This is the part of your business plan where you will describe the specific products or services you’re going to offer. You’ll fully explain the concept for your business, along with all aspects of purchasing, manufacturing, packaging, and distribution.
Writing a Business Plan Georgia State SBDC 7 B. Products/Services In this section, describe your product offering. This will include details of product.