How to Write a Formal Business Proposal

A formal business proposal is an official proposal of a business idea written by one party to another, usually as a means for gaining a partnership or financial backing in business. While there is no set format for a written business proposal, an effective and thorough business proposal will include specific information and leave no question unanswered. Writing a thorough business proposal can increase your chance of getting the attention of a party who has the resources to help you launch your business.

Instructions

1. Introduce yourself in the first paragraph of the proposal, making sure to include any qualifications that will relate to the proposal you're presenting. Include a mission statement that encapsulates the purpose of the business you want to form, using active verbs and precise language.

2. Detail your business in the next several paragraphs. Include a detailed overview of all products and services the business will offer and the target audience for your products and services.

3. Outline the financial elements of the business (where funding will come from), the day-to-day operation of the business and business promotion ideas. Tailor this section to the person or organization you're propositioning so it will be clear what the individual or company's role will be.

4. Summarize any market analysis you have gathered to support the projected success of the business you're proposing. This includes any geographical market analysis or research about your product's popularity. Reference these materials within your formal business proposal as they come up; use a letter or number referring readers to material not included in the proposal.

References

• More Business: Writing a Good Business Proposal
• BizCovering: Tips for Writing a Business Proposal