The company description portion of your business plan provides you and other stakeholders of your business a good synopsis of what business you are in, what problems you are going to solve, how your expertise will satisfy needs within the market and more.
Even if you are updating your business plan just for yourself, or this is your first business plan, you should write your company description for a reader who is looking to invest or lend money to your business.
Landscape industry surveys have shown that landscape professionals become frustrated with the lack of access to capital to help run and grow their business. By having a well thought out business plan, which includes this business description, your chances at receiving access to more capital improves.
Your executive summary comes before the company description in your business plan, and if your executive summary was written in a manner that is compelling enough for a potential vendor or investor to get to the company description, you will want your company description to cover key critical pieces of information.
Now that you have spent some time writing down some thoughts on your unique selling proposition, you will want to write down answers to the following questions.
Again, we are directly asking you four questions from the Small Business Administration’s website on creating your business plan. We will help put these questions into the context of a lawn and landscape maintenance company to help stimulate your thinking.
1. “Describe the nature of your business and list the marketplace needs that you are trying to satisfy.”
My company will provide lawn care and landscape maintenance services to single family home owner properties. Our company will aim to satisfy busy homeowners who need these services and have enough disposable income to pay a slightly higher price for the products and services we will use.
2. “Explain how your products and services meet these needs.”
Our company will be a service first organization that focuses on creating a great experience for our customers based on the quality of our lawn and landscape services, but also on how we will interact with our customers. The products we use for our projects will be fiscally responsible for our company, but will be of a higher quality since we are striving to attain the most profitable customer and a maintain a profitable business.
3. “List the specific consumers, organizations or businesses that your company serves or will serve.”
We will be developing our customers in the following neighborhoods that circle north Metropolis; Windy Ridge, Falcon Crest, Sycamore Canyon and Halter Ranch neighborhoods.
4. “Explain the competitive advantages that you believe will make your business a success such as your location, expert personnel, efficient operations, or ability to bring value to your customers.”
Our company has done some competitive analysis of the top 10 landscape maintenance companies that provide the majority of the lawn and landscape services in these neighborhoods. We will be focusing on our close proximity to these neighborhoods. This proximity and our narrow geographic focus will enable us to provide 100 percent reliability for their lawn and landscape maintenance needs.
Our company will focus on providing fertilizer applications which are longer lasting and less intrusive to the customer and we will focus on using the smallest amount of chemicals to control unwanted weeds and pests in the landscape. In addition, we are going to put a heavy focus on water audits, and smart irrigation retrofits. Our company will position ourselves as the most knowledgeable company in the area for these services. Our customers will pay more for our services, but will have a superior product and a better customer experience.
Take the time to write down your four answers for your business plan. When you review what you have written look to see how specific you were in your answers. You will be judged on how you perform to your business plan, so the more specific you can be the better you will be able to measure your progress.
The next step in developing your business plan is to work on your market analysis.