Why do different industries need different types of business plans?
Every industry has its own unique characteristics. A business plan provides a valuable tool for an entrepreneur to determine the viability of his business. He can only do this by addressing the areas concerning the industry he is in. Each situation is different and a boiler plate solution would not work. Your location, capital, pricing, target market, staffing, etc., may be similar to others but certainly different in many respects. That is why a good business plan should be custom made to fit your individual needs. A business plan is a document, generally projecting three to five years into the future about the route a company intends to take to maintain and grow revenues. It incorporates the basic elements of market research, promotional strategies, operational requirements, and financial projections. There are many variations and sub-categories of each element described above, but all are focused on addressing the undeniably important, overall components of operating a business ente
