Overview
In the Market Analysis section of your business plan, your goal is to demonstrate how your business will generate sales and succeed given market conditions. Here, you really have to show your reader that you've done your homework.
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A Potential Investor Wants to Know |
What are the advantages of your product or service?
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What customers will you sell it to? (What’s your target market?)
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What do those customers care about?
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How can you reach those customers and convince them to buy your product or service?
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Why will they choose you over your competition?
- How much money will these customers spend on your product or service?
Keep in mind that market analyses are often overly optimistic. Your goal is to convince your potential investor that you're being realistic and that you can back up your claims with actual research and a sound analysis of the marketplace. If there's not a market for your product or service, nothing will make your company successful. |
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