Wondering how to treat the business plan location section? This is a simple part of the plan but it can trip you up if your business doesn't have a fixed location, works virtually, has offices in multiple spots, etc. One approach is to simply give the location where you are, if no place has been set -- "Hijinx LLC is located in Hartford, Connecticut." This is never the wrong answer. If you have your eye on the perfect vacant lot for your hot dog place, you could say "DoggyWorld aims to secure the vacant property at 352 N. Power St." Just make sure of the following:
• Is any fixed location used as the basis of your demographic research?
• Who lives within 5 or 10 miles of this location?
• Confirm that any empty space you earmark in the plan doesn't have a pending tenant.
• What are the main competitors in the area you are targeting?
In addition, your plan should also state basics like company ownership percentages, history to date (as relevant), past performance if any, and your formal incorporation (state and type). This basic information typically frames in the location piece and acts as an introduction to the products and services section of the business plan. The market analysis is next, which should of course tie back to the location itself. Have more questions, or just want to call in the pros to get it done right? MasterPlans has written for thousands of businesses -- fixed-location, multi-location, virtual, etc. Call 877-453-2011 today to get your plan done.
