A formal business plan should include the following:

1. Business Identification
   1. Company
   2. History and milestones
2. Purpose
   1. Mission
   2. Goals
   3. Objectives
3. Description of Business
   1. Company's products and services
   2. Major Customers
4. Market Analysis
   1. Market environment
   2. Competitive analysis, including competitors
   3. Risks
5. Location
   1. Facilities and offices
   2. Leases or real estate owned
6. Management
   1. Key employees
   2. Background
   3. Roles
7. Personnel
8. Financial Information
   1. Income statements, historical and projected

As you proceed through the business plan, remember that statements should be supported with data whenever possible. Data adds creditability. It is often advisable to use charts and graphs to present the data to make it more easily understood.