You can turn to How to Write the Competitors Analysis Section of the Business Plan for help.
The Target Market description and Competitive Analysis portions can be two separate sections in the plan or combined as shown: A description of how you intend to entice customers to buy your product(s) or service(s), including advertising/promotion, pricing strategy, sales and distribution, and post-sales support if applicable.
Cons of using a business plan template: While there are benefits to using a business plan template, depending on your situation it may not be the best way to complete your plan. For instance, not only do you have to complete the financial spreadsheets, but you have to do the math yourself.
You’ll also have to know enough about the process to be sure you’re getting the numbers in the right place.
See The Marketing Plan Section of the Business Plan for a detailed description.
Product or Service Offerings This section describes the legal structure, ownership, and (if applicable) the management, and staffing requirements of your business.
That best way to find out whether you do or not is to do your research and write a business plan to see if your idea is feasible.
The simple business plan template presented here will get you started.
Once you complete your simple business plan be sure to format it attractively, print it and get it professionally bound.
You want your business plan to convey the best possible physical impression; make it something people are going to want to pick up and look at.