In no more than one page, your business plan closing statement should recap your plan and project confidence to potential funders. The closing statement should include the business opportunity, market size, growth projections and anticipated profits. According to Cayenne Consulting, good business ideas and teams continue to be funded. A poor closing statement neglects key facts and lacks confidence, while a good statement summarizes the business opportunity and inspires potential investors to action.
Restate the key facts about your business as you begin the closing statement. For example, if you are starting a themed restaurant, write your restaurant's name, location, type of business (corporation or sole proprietorship) and the type of customers and market or area you will serve. Write the next sentence covering the strengths of the management team. For example, "Our executive chef has worked in some of the best kitchens in the region."
Write a list of three to four opportunities your business will take advantage of. For example, if you are starting a daycare business in an area with high need, write "Parents in our community experience waiting lists of up to six months for care." Include statistics about the size of the market you will serve. Write "We will market our day care to 5,000 parents of children ages 0 to 5 in our area."
Differentiate your business through its financial and operational model. For example, if you are starting an online clothing business, write about the ways you will operate more profitably than competitors with brick-and-mortar stores. Write, "Our business has a low overhead cost while offering free shipping and easy returns." A pet grooming business operated by an experienced groomer could write, "With an established client list of over 100 owners, our business will be immediately profitable."
Show Your Vision
Your vision statement should reappear in the business closing statement. For example, if you are a home renovation business, write "Our business has a vision of being the pre-eminent home renovation contractor in our area." Put the vision into concrete terms by writing specific goals for revenue and profit. For example, write "XYX Renovations projects $4 million in revenue and approximately $800,000 in profit after five years of operation."
Amy Sterling Casil is an award-winning writer with a Master of Fine Arts in creative writing from Chapman University in Orange, Calif. She is a professional author and college writing teacher, and has published 20 nonfiction books for schools and libraries.