The Components of a Business Plan

A business plan has 5 major parts. They are the following:

1. The Introduction

This includes the general information of the business and what you want to achieve

2. The Marketing Plan

Here, the methods of distributing your products or services, your price, the price of your competitors, the method of selling, promotion and the future de­mands of the people are considered 

3. The Production Plan

The process, sources of supplies, suppliers and the equipment needed in pro­ducing the goods or services are taken into account.

4. The Organization Plan.

It refers to the type of business organization you plan to have. It also includes the people in the different positions, the hiring procedure as well as the develop­ment program for these people.

5. The Financial Plan.

This indicates how much you need to run the whole business.

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