The last step in preparing your business plan is to create an Executive Summary. This document summarizes the business plan information and is placed at the beginning of the document. The Executive Summary should be interesting to your reader and provide the basic information about the business. In particular, the Executive Summary is intended to summarize your financial needs for startup or purchase. Here are the points you should emphasize in your Executive Summary:
- Company information, including the company name, when it was founded or purchased, when it will open for business, the location and legal form of organization.
- A one sentence description of the products/services of the business.
- Several sentences which discuss the purpose of the business, its mission/vision, and other information to interest your reader in the business.
- A general description of your target market, your competitive position, and your unique differences from your competition.
- A discussion of your specific financing needs, including your own investment in the business, startup/purchase funding, and needs for operating capital during startup.
- A discussion of your own investment in the business and your expectations of when the business will break even or make a profit.
