Industry Analysis
Industry review
Regulation review
and legal concerns
Instructions for Completing Plan
Research industry averages for profitability in your marketplace. Use this
information to determine the validity of your own projections and make changes
if necessary.
Determine your location and business environment. Address all legal, zoning,
and licensing concerns your business will face. What form of business will you
set up? Why? The level of detail required for this section will depend on your
type of location (virtual, retail, warehouse, office, restaurant, etc.) and on your
idea. Demonstrate that you have completed your research. DON’T say "We will
obtain all of the appropriate permits"; instead, summarize them. When you
explain your form of business—remember your audience. For example, if you
select an S corporation, explain your reasoning for that selection in the context
of your potential business, rather than providing the definition of an S
corporation. Address any pending regulations which may have an impact on
your business.
Competitive analysis Describe the competitive landscape. Who are the key competitors? What are
their strengths and weaknesses? Approximate their market shares. How will
you take share from them? How will they most likely try to stop you if you are
successful? Who are your indirect competitors? What do they offer your
prospects?
SWOT analysis
Identify your company’s major strengths, weaknesses, opportunities, and
threats. Describe how you plan to maximize your strengths and opportunities
and minimize or mitigate your weaknesses and threats.
