The Service or Product

You can now describe exactly what your business does. Use this section to tell the reader why your service or product is successful, or why it will be successful. Describe your service or product in some detail. Point out the essential characteristics that make it special. You should also include information about the means of production or the means by which the service will be provided.

It is important to use terms that are easily understood. Make sure that the reader can appreciate any technological advantages, for example, in a way that does not presuppose particular technical knowledge.

Key Elements

The following list of points for inclusion should be helpful.

Services provided/product range.
Pricing, especially contracts.
Technological or other advantages.
Research and development work.
Manufacturing process.
Key suppliers and security of suppliers of labour and materials.
Details of premises and plant - need for expansion if any.
Any environmental issues.
Compliance with industry standards.

Recommendations

More detailed information on the service or product, for example in the form of promotional literature or technical specification sheets, can be included as an appendix to the business plan.

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