A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.
A business plan is the utmost requirement for securing your financial needs. There is a pattern for writing a good business plan which one should follow to get success. The major components of a business plan are as follows:
Executive summary- The executive summary is the backbone of the business plan and it should include a brief background of the business concept, company's objective's or your plan, ownership structure, management team, service offering, target market(s), competitive advantages, marketing strategy and high-level financial details like expected profit, required funding etc. It helps the bank or finance executives to get an idea of your business.
Industry overview-This section will include description about which industry you are targeting, its growth and size, competitive analysis, business strategy and key players.