Before starting any form of business, a comprehensive layout of a plan needs to be prepared. A business plan is absolutely necessary to evaluate the internal and external factors affecting a business. A business plan should incorporate, in general, all the critical aspects of business that directly or indirectly affect it. The entire, well laid-out business plans need to have core components in it. The five crucial components of a business plan are: Executive summary section
Market Analysis Section
All the business plans fail to incorporate these five components in their business plan and therefore fail to cover all aspects crucial to business. Garden Way Yoga center’s business plan has all these components in its plan. However, this report will try to investigate/critique on important elements missing which could improve the credibility of the business plan.
The executive summary is the nucleus of any business plan. The whole business plan needs to be critically summarized within some words to imply the essence of the whole plan. The reader/evaluator must generate an overall idea of the whole business after going through the executive summary. It should include condensed information on all the aspects covered by the whole plan. The executive summary of the Garden Way Yoga Center covers four different aspects. It has a Brief introduction: This explains benefits of Yoga and a brief history of the owner and the business. This section is able to inform the reader about the experience and expertise of the owner/operator of the business which is necessary to make an initial impact in the market. Highlights: This section includes a chart with a three-year analysis of sales, gross margin and net profit. Highlights should have some narratives attached to it to explain the information...
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