Your executive summary is one of the most important aspects of your business plan. It's the first thing potential investors read, and if it's well written and grabs their attention they will read on- if not, your business plan will get set aside.
To write a solid executive summary it needs to be direct and articulate. It's purpose is to consolidate all the pages of your business plan into a one page summary; use your words sparingly and make sure they have as much impact as possible. Because it encompasses your entire business plan, it should be the last thing you write and you will want to spend a few days on it. Write it, give it a few days and review it to make corrections, then refine again. If you know someone that writes or reads well, or often, you may even want to get their opinion.
The following are a few components that should be in your business plan executive summary:
Within the first few lines the person reading your executive summary should know exactly what business you are pursuing.
One of the primary reasons for writing a business plan is to solicit capital for your start up; don't be bashful! If you need $80,000 for equipment and $9,000 for marketing, state it toward the end of your executive summary. Although, you don't need to go line by line explaining what the money is for; this is what your financial section is for.
With the recent social emphasis on environmentalism and the movement toward alternative energy, SI Co is committed to providing quality and excellence in the solar installation industry. With rising utility costs and financial incentives, offered by both state and federal governments, we will meet the demand for alternative energy- namely solar panel installation.
SI Co is a family owned and operated Limited Liability Company offering over 40 years of combined electrical experience. In conjunction with the governmental promotion of alternative energies and the social emphasis demanding green environmentalism, we will establish ourselves as the southern Illinois solar installation experts.
Our competitive advantage rests primarily on being the first mover into our market. However, we recognize that it takes more than being first mover to establish a profitable business with longevity. We will also place an emphasis on quality service and products, care through building professional relationships with our clients, and workmanship with passionate enthusiasm. We will practice a competitive pricing strategy, utilizing quality products backed by both our company and the producer. Our promotional plan is fairly aggressive, placing an emphasis on educating our potential clients of the numerous benefits of converting to solar energy. There are several options available to ensure we receive our products in a timely manner, with little to no overhead requirement.
SI Co’s target market is small to medium sized businesses and high-end residential homes. As there are currently no competitors within the region we seek to operate within, Madison and Macoupin counties, we are certain this area will be sufficient to establish a presence.
SI Co offers over 40 years of experience in the electrical industry as well as experience with the multitude of responsibilities that come with administrative operations. Susan Trip will carry out the administrative responsibilities, while Brendon fulfills all external activities. He has 14 years of experience as an electrician and his father, Al, will provide additional counsel when necessary. Al has 25 years of experience as an electrician.
SI Co will require an initial investment of $11,000. However, as a result of the construction industries standards of operation, we are seeking an initial loan of $100,000. This initial outlay will allow our company to purchase all required solar materials for our first project, insurance, bonds when drawing employees from the union, a vehicle, required tools, promotion, and employee wages. Fortunately, we will not have any initial overhead expenses due to existing local distribution channels. Our business has minimal requirements during the start-up phase. Currently, we cannot offer an in depth exit strategy for potential private investors.