IV. Business Description
The business description section presents the nature and form of the business to be undertaken, and may cover two to three pages. As to nature, the business may be a merchandising, service, manufacturing, or a hybrid. The description must include the innovative features of the business. As to form, it may either be a sole proprietorship, a partnership, or corporation. The reason/s for the selection of the form must be indicated.
example>>
Grizzly Bear Financial Managers is a comprehensive financial planning service for the upper end of the Portland market. Grizzly is a sole proprietorship owned by Meghan Malpraktus.
Product Description
A product description is the marketing copy that explains what a product is and why it’s worth purchasing. The purpose of a product description is to supply customers with details around the features and benefits of the product so they’re compelled to buy.
Example:
This is how Method Home describes one of their hand wash gels.
Gel Hand wash
Sometimes the scent of seasonal hand wash is all we need to rouse our holiday spirits. Available in an array of festive fragrances, our naturally derived gel hand wash will leave your hands soft, clean and ready to be tucked into a pair of fair isle mittens. It really is the most wonderful time of the year.
Method Home suggests that the benefit of their soap is not just that your hands become soft and clean, but that the soap actually rouses your holiday spirit making the holidays more festive and therefore more enjoyable.
Consider the benefit of each of your features. How does your product make your customers feel happier, healthier, or more productive? Which problems, glitches, and hassle does your product help solve?
Don’t sell just a product, sell an experience.
Size of the Business
In small and medium-sized enterprises (SMEs) employ fewer than 250 people. SMEs are further subdivided into micro enterprises (fewer than 10 employees), small enterprises (10 to 49 employees), medium-sized enterprises (50 to 249 employees). Large enterprises employ 250 or more people.
example>>
Grizzly Bear Financial Managers is a comprehensive financial planning service for the upper end of the Portland market. Grizzly is a sole proprietorship owned by Meghan Malpraktus.
Product Description
A product description is the marketing copy that explains what a product is and why it’s worth purchasing. The purpose of a product description is to supply customers with details around the features and benefits of the product so they’re compelled to buy.
Example:
This is how Method Home describes one of their hand wash gels.
Gel Hand wash
Sometimes the scent of seasonal hand wash is all we need to rouse our holiday spirits. Available in an array of festive fragrances, our naturally derived gel hand wash will leave your hands soft, clean and ready to be tucked into a pair of fair isle mittens. It really is the most wonderful time of the year.
Method Home suggests that the benefit of their soap is not just that your hands become soft and clean, but that the soap actually rouses your holiday spirit making the holidays more festive and therefore more enjoyable.
Consider the benefit of each of your features. How does your product make your customers feel happier, healthier, or more productive? Which problems, glitches, and hassle does your product help solve?
Don’t sell just a product, sell an experience.
Size of the Business
In small and medium-sized enterprises (SMEs) employ fewer than 250 people. SMEs are further subdivided into micro enterprises (fewer than 10 employees), small enterprises (10 to 49 employees), medium-sized enterprises (50 to 249 employees). Large enterprises employ 250 or more people.
BUSINESS DESCRIPTION
This section shall describe the product to produce, the equipment needed in the small business, the size of the business in terms of capitalization and scope, and the personnel required to handle the operation.
Nature and Form of the Business
Product Description
Equipment/Materials Needed
Size of the Business
Personnel Requirement