How to write a business plan for services

To draw up a competent business plan, you must first determine which type of service is most attractive in terms of benefits. However, one should not forget that the liquidity of many services is determined by factors that are not directly related to purely economic calculations: fashion, information in the media, and even rumors.

Instruction manual

1

Select a business idea that relates to a specific service. The correct formulation of the idea is an expression of the main content of future activities in literally two or three simple phrases so that any person who does not even have any relation to entrepreneurship can immediately understand what services you plan to sell. In the "Project Description" section, with which any business plan begins, there should be nothing superfluous. If you are going to provide any additional services, list them in the main part.

2

Indicate who is the project manager. It is advisable that this be a person competent in the field of services of your choice, or at least an experienced leader. List the persons responsible for making decisions on the project (for example, shareholders with a mandatory indication of their share in fixed capital).

3

Classify your target audience in terms of age, gender, income and social status so that the distribution of demand for your services is clearly reflected in the business plan. Pay attention to the factors that may determine the demand for services (seasonality, information in the media, reviews of other consumers). Be sure to write about how you will track changes in demand depending on direct and indirect factors.

4

Study the activities of competitors and indicate in the business plan what marketing techniques they use to promote their services in the market and monitor it. List your benefits in this area.

5

Select sources of investment in the project. This can be a loan, a loan from funds to support small and medium-sized businesses, own savings, etc.

6

Calculate the total cost of the project. Typically, this section provides information on the cost of renting a room, staff salaries for the purchase of equipment and furniture.

7

Calculate the profitability of the project taking into account interest on the loan, possible risks and the expected sources of new investments.