How to Create a Service Business Business Plan
A business plan for a service business is a detailed guide explaining the purpose of the business, the services offered and who will provide them, and the marketing strategy, as well as identifying competition, resources and finances. Creating a professional business plan for your service business is just as important as the business itself. It is a sales tool as well as a possible means for getting financing.
- Difficulty:
- Moderately Easy
Instructions
Things You'll Need
- Computer
- Microsoft Word
- Internet Access
- Service Business Idea
- Time for research
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1
Create a mission statement, a very specific description of the reason you are performing the service.
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2
Describe services offered. Include current and future services, along with the projected effective dates of the latter. Start with a summary of services. Follow that with a detailed list that includes your cost to perform each service, the fees you will charge and the expected profit.
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3
Provide a list of the people who will be part of the business and a short description of each. Include an organizational chart with detailed job descriptions.
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4
Identify the competition, their services and their charges, and explain the ways in which your business is superior.
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5
Present market research and your marketing plan. Define the market, start-up costs, the history of the market, new ideas and trends. Project your marketing strategy for the next 12 months.
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6
State goals and objectives — short-term and long-term. Explain what you want to achieve in one year, two, three, four and five years. List objectives and how success will be measured.
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7
Estimate the cost of doing business and how much income will be needed for the first, second and third years. Include all income and expenses.
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8
List the equipment needed to provide the services.
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9
Explain risks.
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1
Tips & Warnings
Research the competition before starting your service business.
Go to the Small Business Administration's website and study the free resources.
Estimate carefully the funding requirements before starting the business.
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References
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