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You’ll report your anticipated revenue for the first 12 months and your annual projected earnings for the second, third, fourth and fifth years of business.
If you’re trying to apply for a personal loan or a small business loan, you can always add an appendix or another section that provides additional financial or background information.
It’s best to include key information about your business, your goals and the customers you plan to serve.
Your company description should also discuss how your business will stand out from others in the industry and how the products and services you’re providing will be helpful to your target audience.
You’ll need to list anything related to patents and copyright concerns as well.
In your business plan, it’s important to describe how you intend to get your products and services in front of potential clients. As you pinpoint the steps you’re going to take to promote your products, you’ll need to mention the budget you’ll need to implement your strategies.
Don’t forget to indicate whether your business will operate as a partnership, a sole proprietorship or a business with a different ownership structure.
If you have a board of directors, you’ll need to identify the members.
If you’ll need extra cash in a year or two to complete a certain project, that’s something that’s important to disclose.
In the final section of your business plan, you’ll reveal the financial goals and expectations that you’ve set based on market research.