But they all tend to have the same elements, including an executive summary of the business and a detailed description of the business, its services and/or products.
It also states how the business intends to achieve its goals.
Sometimes, a new business plan is prepared for an established business that is moving in a new direction.
A business plan is a fundamental tool any startup business needs to have in place prior to beginning its operations.
Description of Market is a component of your marketing plan and sets the stage for how you will advertise and market your business.
The key element of a successful marketing plan is to know your customer --- their likes, dislikes, and expectations.
This section explains why the plan is being written, and explains the sources of financing and a general statement of what they will be used for.
It also gives a general understanding as to the type of business, and if the business is a start-up, purchase, or on-going concern.
Although they're especially useful for new companies, every company should have a business plan.
Ideally, a company would revisit the plan periodically to see if goals have been met or have changed and evolved.