Sales and Distribution Strategy How will you sell it? Is it in the idea stage or do you have a prototype? Plan to set up multiple vendor or supplier relationships, and describe those relationships fully.
Also, keep in mind that if a supplier runs out of capacity--or goes out of business altogether--you may not have a sufficient supply to meet your demand. Remember, the primary goal of your business plan is to convince you that the business is viable--and to create a road map for you to follow.
Did you trademark, copyright, or patent your product?
Lifecycle Where are you currently with this product or service? FedEx had to define the opportunity for a new, large-scale service and justify why customers needed--and would actually use--that service.
Gotten approvals from industry experts? The Products and Services section for our cycling rental business could start something like this: The following is a breakdown of anticipated rental price points, per day and per week: These manufacturers have a widespread reputation as mid- to high-level quality, unlike equipment typically found in the rental market.
Is price an issue? If your business takes off, is a steady supply of products available? If Blue Mountain Cycling Rentals plans to market itself as a provider of high-end bikes, describing those bikes--and the sources for those bikes--is important, since "high-end cycling rentals" is intended to be a market differentiation.
Are there competitive disadvantages you will need to overcome? Since the typical customer seeks medium-quality equipment and excellent services at competitive prices, we will focus on providing brands like Trek bikes, Shimano footwear, and Giro helmets.
How does it benefit customers? And if so, how? If the company plans to be the low-cost provider, then describing specific brands of equipment is probably not necessary. What makes your products or services different? Perhaps most importantly, emphasize how and why you are competitive.
Are you the manufacturer? Do you assemble products using components provided by others? Have you produced some and are looking to expand? Will you need any special equipment or technology to provide your product or service?
It may be necessary to give some basic background if this is an area or industry people are unfamiliar with. Have you started offering this service already or are you still in the planning stages?
Have you lined up any vendors? Product Description Blue Mountain Cycle Rentals will provide a comprehensive line of bicycles and cycling equipment for all ages and levels of ability.
Will you market it online or in retail stores? Will your operating costs be low enough to allow a reasonable profit margin? How Do You Stand Out? In the Products and Services section of your business plan, you will clearly describe--yep--the products and services your business will provide.
Do you purchase products from suppliers or wholesalers? Fulfillment How will you fill orders or deliver the service? The Product or Service Description What is your product or service, and how does it work? Who will handle distribution, and how? Will you manufacture items yourself or outsource to someone else?
Key questions to answer:Business Plan Section 4: Products and Services 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.
The Business Plan The Business Plan; The Business Plan Format; The Milestone Schedule PRODUCT OR SERVICE DESCRIPTION This section helps you to think about your product or service which reflects on your ability to understand and cater for your clients’ expectations.
A Product Description contains an overview of your product or service, features, benefits, and advantages, as well as any product development activities or liability issues.
The overview should paint a complete picture of the product by answering the following questions in detail. This part of the business plan will provide a detailed description of the products and/or services you plan to sell. It is important to be clear and concise when you are describing your product and/or service.
An overview of the products or services section of a small business plan, including what should be included and tips for writing an effective one. Description of the products or services; How will my product or service make his/her life better, easier or more profitable?" Get to the Point.
DIY Wash N' Fix auto repair and car wash business plan product and service description. DIY Wash N' Fix is a start-up business that will offer a garage location with rental tools and equipment for consumers who wish to wash, paint, or repair their automobile themselves/5(22).Download