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Executive Summary of a Home Care Business (Example)

• December 29, 2023
• Business Plan , Executive Summary

An executive summary for a home care business plan is a critical tool for outlining your business’s key offerings, market potential, and unique advantages. This section, essential for attracting investors and partners, should concisely present the value proposition of your home care service. It should clearly communicate how your business meets the growing demand for senior care, emphasizing your commitment to quality and personalized services.

A two-slide PowerPoint format is recommended for the executive summary. The first slide should detail the range of services offered, the expertise of the care team, and the strategic service area. The second slide should focus on the management team’s experience and the financial goals of the business.

Home Care Business Plan

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Home Care Executive Summary: Page 1

Business Overview

The business overview should succinctly define the unique aspects of your home care service, including specialized care offerings and the qualifications of your care team. Emphasizing what sets your business apart in the senior care market is key for drawing interest and investment.

Example: “Compassionate Home Care,” covering a 30-mile radius in Springfield, offers personalized services such as medication management, specialized dementia care, and emergency response. The initial team of 40 skilled caregivers, including CNAs, LPNs, and RNs, are all trained in geriatric care, ensuring a high standard of service for seniors wishing to age comfortably in their homes.

Market Overview

This section should analyze the home care market’s size, growth trends, and competitive landscape . It positions your business within the industry and highlights its potential to meet the needs of an aging population.

Example: Compassionate Home Care enters a market valued at $102 billion, growing at a 7.1% CAGR. Despite competition from four other local providers, the clinic stands out with its comprehensive, technology-integrated, and holistic approach to home care, meeting the rising preference for aging in place.

Home Care Executive Summary: Page 2

Management Team

Detailing the management team’s background and roles is vital. This part of the summary should emphasize their experience in healthcare and senior care, underscoring their ability to lead the business successfully.

Example: The CEO, with extensive experience in healthcare management, leads the business strategy and operations, while the COO, a registered nurse with specialized training in geriatric and palliative care, heads the care services. Their combined expertise ensures a strong foundation for the business and high-quality care for clients.

Financial Plan

Clearly outlining financial goals and projections is key. This section should include revenue targets and profit margins, offering insight into the business’s financial health and growth potential.

Example: Compassionate Home Care aims to achieve $3.4 million in annual revenue with a 15% profit margin by 2028. Supported by a robust business model and strategic marketing efforts, the company is positioned for significant growth in the expanding senior home care market.

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How to Write an Executive Summary in 6 Steps

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When you’re starting a business, one of the first things you need to do is write a business plan. Your business plan is like a roadmap for your business, so you can lay out your goals and a concrete plan for how you’ll reach them.

Not only is a business plan essential for any business owner, but it’s also a requirement if you decide to apply for small business funding or find investors. After all, before a bank or individual hands over any money, they’ll want to be sure your company is on solid ground (so they can get their money back).

A business plan consists of several pieces, from an executive summary and market analysis to a financial plan and projections. The executive summary will be the first part of your business plan.

If wondering how to write an executive summary has kept you from completing your business plan, we’re here to help. In this guide, we’ll explain what an executive summary is and provide tips for writing your own so your business plan can start strong.

What is an executive summary?

An executive summary is a short, informative, and easy-to-read opening statement to your business plan. Even though it’s just one to two pages, the executive summary is incredibly important.

An executive summary tells the story of what your business does, why an investor might be interested in giving funds to your business, why their investment will be well-spent, and why you do what you do. An executive summary should be informative, but it should also capture a busy reader’s attention.

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Why write an executive summary?

Anyone you’re sending your executive summary and business plan to is likely busy—very busy. An entire business plan is long, involved, and deals with a lot of numbers.

Someone busy wants to get an understanding of your business, and they want to do it quickly, which is to say not by diving into a complicated, 80-page business plan. That’s where your executive summary comes in.

An executive summary provides just the opportunity to hook someone’s interest, tell them about your business, and offer a clear selling point as to why they should consider investing in your business.

Your executive summary is your chance to sell your business to potential investors and show them your business is worth not only their money but also their time.

What to include in an executive summary

By its nature, an executive summary is short. You must be able to clearly communicate the idea of your business, what sets you apart, and how you plan to grow into a successful enterprise.

The subsequent sections of your business plan will go into more detail, but your executive summary should include the most critical pieces of your business plan—enough to stand on its own, as it’s often the only thing a prospective investor will read. Here’s what your executive summary should include—consider it an executive summary template from which you can model your own.

1. The hook

The first sentence and paragraph of your executive summary determine whether or not the entire executive summary gets read. That’s why the hook or introduction is so important.

In general, a hook is considered anything that will get a reader’s attention. While an executive summary is a formal business document, you do want your hook to make you stand out from the crowd—without wasting time.

Your hook can be sharing something creative about your company, an interesting fact, or just a very well-crafted description of your business. It’s crucial to craft your hook with the personality of your reader in mind. Give them something that will make your company stand out and be memorable among a sea of other business plans.

Grab their attention in the first paragraph, and you’re much more likely to get your executive summary read, which could lead to an investment.

2. Company description summary

Now that you’ve hooked your reader, it’s time to get into some general information about your business. If an investor is going to give you money, after all, they first need to understand what your company does or what product you sell and who is managing the company.

Your company description should include information about your business, such as when it was formed and where you’re located; your products or services; the founders or executive team, including names and specific roles; and any additional details about the management team or style.

3. Market analysis

Your market analysis in the executive summary is a brief description of what the market for your business looks like. You want to show that you have done your research and proven that there is a need for your specific product or services. Some questions you should answer:

Who are your competitors?

Is there a demand for your products or services?

What advantages do you have that make your business unique in comparison to others?

To reiterate, stick to the highlights of your market analysis in your executive summary. You’ll provide a complete analysis in a separate section of your business plan, but you should be able to communicate enough in the executive summary that a potential investor can gauge whether your business has potential.

4. Products and services

Now that you’ve established a need in the market, it’s time to show just how your business will fill it. This section of your executive summary is all about highlighting the product or service that your company offers. Talk about your current sales, the growth you’ve seen so far, and any other highlights that are a selling point for your company.

This is also a good time to identify what sets your business apart and gives you a competitive advantage. After all, it’s unlikely that your business is the first of its kind. Highlight what you do better than the competition and why potential customers will choose your product or service over the other options on the market.

5. Financial information and projections

In this section of your executive summary, you want to give the reader an overview of your current business financials. Again, you’ll go more in-depth into this section later in your business plan, so just provide some highlights. Include your current sales and profits (if you have any), as well as what funding you’re hoping to acquire and how this will affect your financials in the next few years.

This is also where you can explain what funding, if any, you’ve received in the past. If you paid back your loan on time, this is an especially bright selling point for potential lenders.

6. Future plans

While asking for what funding you need is essential, you’ve also got to make clear what you’re going to use that funding for. If you’re asking for money, you want the person to know you have a plan to put those funds to good use.

Are you hoping to open another location, expand your product line, invest in your marketing efforts? This final section of your executive summary should detail where you want your business to go in the future, as well as drive home how funding can help you get there.

Tips for writing an executive summary

Even if you include each part of a good executive summary, you might not get noticed. What is written can be just as important as how it’s written. An executive summary has to strike a delicate balance between formal, personable, confident, and humble.

1. Be concise

An executive summary should include everything that’s in your business plan, just in a much shorter format. Writing a concise executive summary is no easy task and will require many revisions to get to the final draft. And while this is the first section of your executive summary, you’ll want to write it last, after you’ve put together all the other elements.

To choose your most important points and what should be included in the executive summary, go through your business plan, and pull out single-line bullet points. Go back through those bullet points and eliminate everything unnecessary to understanding your business.

Once you have your list of bullet points narrowed down, you can start writing your executive summary. Once it’s written, go back in and remove any unnecessary information. Remember, you should only be including the highlights—you have the rest of your business plan to go into more detail. The shorter and clearer your executive summary is, the more likely someone is to read it.

2. Use bullet points

One simple way to make your executive summary more readable is to use bullet points. If someone is reading quickly or skimming your executive summary, extra whitespace can make the content faster and easier to read.

Short paragraphs, short sentences, and bullet points all make an executive summary easier to skim—which is likely what the reader is doing. If important numbers and convincing stats jump out at the reader, they’re more likely to keep reading.

3. Speak to your audience

When writing your executive summary, be sure to think about who will be reading it; that’s who you’re speaking to. If you can personalize your executive summary to the personality and interests of the person who will read it, you’re more likely to capture their attention.

Personalizing might come in the form of a name in the salutation, sharing details in a specific way you know that person likes and the tone of your writing. An executive summary deals with business, so it will generally have a formal tone. But, different industries may be comfortable with some creativity of language or using shorthand to refer to certain ideas.

Know who you’re speaking to and use the right tone to speak to them. That might be formal and deferential, expert and clipped, informal and personable, or any other appropriate tone. This may also involve writing different versions of your executive summary for different audiences.

4. Play to your strengths

One of the best ways to catch the attention of your reader is to share why your business is unique. What makes your business unique is also what makes your business strong, which can capture a reader’s interest and show them why your business is worth investing in. Be sure to highlight these strengths from the start of your executive summary.

5. Get a test reader

Once you’ve written and edited your executive summary, you need a test reader. While someone in your industry or another business owner can be a great resource, you should also consider finding a test reader with limited knowledge of your business and industry. Your executive summary should be so clear that anyone can understand it, so having a variety of test readers can help identify any confusing language.

If you don’t have access to a test reader, consider using tools such as Hemingway App and Grammarly to ensure you’ve written something that’s easy to read and uses proper grammar.

How long should an executive summary be?

There’s no firm rule on how long an executive summary should be, as it depends on the length of your business plan and the depth of understanding needed by the reader to fully grasp your ask.

That being said, it should be as short and concise as you can get it. In general, an executive summary should be one to two pages in length.

You can fudge the length slightly by adjusting the margin and font size, but don’t forget readability is just as important as length. You want to leave plenty of white space and have a large enough font that the reader is comfortable while reading your executive summary. If your executive summary is hard to read, it’s less likely your reader will take the time to read your business plan.

What to avoid in an executive summary

While the rules for writing a stellar executive summary can be fuzzy, there are a few clear rules for what to avoid in your executive summary.

Your executive summary should avoid:

Focusing on investment. Instead, focus on getting the reader to be interested enough to continue and read your business plan or at least schedule a meeting with you.

Clichés, superlatives, and claims that aren’t backed up by fact. Your executive summary isn’t marketing material. It should be straightforward and clear.

Avoiding the executive summary no-nos is just as important as striking the right tone and getting in the necessary information for your reader.

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The bottom line

While an executive summary is short, it’s challenging to write. Your executive summary condenses your entire introduction, business description, business plan, market analysis, financial projections, and ask into one to two pages. Condensing information down to its most essential form takes time and many drafts. When you’re putting together your business plan’s executive summary, be sure to give yourself plenty of time to write it and to seek the help of friends or colleagues for editing it to perfection.

However, some tools make crafting a business plan, including your executive summary, a simpler process. A business plan template is a great place to start, and business plan software can especially help with the design of your business plan. After all, a well-written executive summary can make all the difference in obtaining funding for your business, so you’ll want all the help you can get.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

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Whether presenting a business plan, sharing project updates with stakeholders, or submitting a project proposal, an executive summary helps you grab attention and convey key insights.

Think of it as a condensed version of a document, report, or proposal that highlights the most important information clearly and concisely. It's like a "cheat sheet" that gives you a snapshot of the main points without reading the entire thing.

Throughout the article, we'll explore some examples of executive summaries to give you a better understanding of how they can be applied. Plus, we'll provide you with ready-to-use templates and best practices for writing compelling executive summaries.

What is an executive summary?

An executive summary is a concise overview of a longer document or report. It is typically written for busy executives or decision-makers who may not have the time to read the entire document but still need to grasp its key points and recommendations. 

An effective executive summary should capture the essence of the document, highlighting the most important information in a brief and easily understandable way. It should provide a snapshot of the document's purpose, methodology, major findings, and key recommendations. The summary should be written in a way that allows the reader to quickly grasp the main ideas and make informed decisions based on the information presented.

Why do you need to write one?

For a business owner , an executive summary is one of the most important documents you will have. Like a business plan , they help you lay out the potential value of your business and your potential for success. 

Unlike a business proposal, however, an executive summary is designed to be read in a brief amount of time. That makes them ideal for a variety of uses, like project proposals and research summaries. Sending your strategic plan to a prospective investor or stakeholder likely won’t get you far. But a brief report that clearly states your key findings and what’s in it for them might help you — and your proposal — stand out. It isn't all the details. It's what gets you the meeting to share more.

An executive summary is also a business document that can travel without you. It may be presented to other leaders and potential investors. If it’s written well, it will take on a life of its own. You may find that you get support and resources from places you never imagined.

What should be included in an executive summary?

Your executive summary should include brief descriptions of who your product, service, or proposal is for and your competitive advantage. Be sure to introduce your report concisely yet clearly . Note the most important points and its overall purpose––what do you hope to achieve with this report? 

Also, include any necessary background information and statistics about the industry, high-level information about your business model, necessary financial information, or other insights you discuss in the report. Depending on your proposal, you may want to consider summarizing a market analysis of your target market.

Typically, an executive summary follows a structured format, including sections such as:

• Introduction: Provides a brief background and context for the document.
• Objective or purpose: Clearly states the goal of the document and what it aims to achieve.
• Methodology: Briefly describes the approach, data sources, and methods used to conduct the research or analysis.
• Findings: Summarizes the main findings, conclusions, or results derived from the document.
• Recommendations: Outlines the key recommendations or proposed actions based on the findings.
• Conclusion: Provides a concise wrap-up of the main points and emphasizes the significance of the document.

How do you write an executive summary?

When tackling an executive summary, it's all about following a structured approach to ensure you effectively communicate those crucial points, findings, and recommendations. Let’s walk through some steps and best practices to make it a breeze:

Step 1: Get to know the document

Take the time to dive into the full document or report that your executive summary will be based on. Read it thoroughly and identify the main objectives, key findings, conclusions, and recommendations.

Step 2: Know your audience

Think about who you're writing the executive summary for. Consider their knowledge level, interests, and priorities. This helps you tailor the summary to their needs and make it relevant and impactful.

Step 3: Outline the structure

Create an outline for your executive summary with sections like introduction, objective, methodology, findings, recommendations, and conclusion. This way, you'll have a logical flow that's easy to follow.

Step 4: Start strong

Kick off your executive summary with a captivating opening statement. Make it concise, engaging, and impactful to hook the reader and make them want to keep reading.

Step 5: Summarize objectives and methodology

Give a brief overview of the document's objectives and the methodology used to achieve them. This sets the context and helps the reader understand the approach taken.

Step 6: Highlight key findings

Summarize the main findings, conclusions, or results. Focus on the juiciest and most relevant points that support the document's purpose. Keep it clear and concise to get the message across effectively.

Step 7: Present key recommendations

Outline the important recommendations or proposed actions based on the findings. Clearly state what needs to be done, why it matters, and how it aligns with the document's objectives. Make those recommendations actionable and realistic.

Step 8: Keep it snappy

Remember, an executive summary should be short and sweet. Skip unnecessary details, jargon, or technical language . Use straightforward language that hits the mark.

Step 9: Review and polish

Once you've written the executive summary, give it a careful review for clarity, coherence, and accuracy. Make sure it captures the essence of the full document and represents its content faithfully. Take the extra step to edit out any fluff or repetition.

Step 10: Dress to impress

Consider formatting and presentation. Use headings, bullet points, and formatting styles to make it visually appealing and easy to skim. If it makes sense, include some graphs, charts, or visuals to highlight key points.

Tips for writing an effective executive summary

• Adapt your language and tone to suit your audience.
• Keep things concise and crystal clear—say no to jargon.
• Focus on the most important info that packs a punch.
• Give enough context without overwhelming your reader.
• Use strong and persuasive language to make your recommendations shine.
• Make sure your executive summary makes sense even if the full document isn't read.
• Proofread like a pro to catch any pesky grammar, spelling, or punctuation errors.

Executive summary template for business plans

Here's a general template for creating an executive summary specifically for business plans:

[Your Company Name]

[Business Plan Title]

Business overview

Provide a brief introduction to your company, including its name, location, industry, and mission statement . Describe your unique value proposition and what sets your business apart from competitors.

Market analysis

Summarize the key findings of your market research. Provide an overview of the target market, its size, growth potential, and relevant trends. Highlight your understanding of customer needs, preferences, and behaviors.

Product or service offering

Outline your core products or services, including their key features and benefits. Emphasize how your offerings address customer pain points and provide value. Highlight any unique selling points or competitive advantages.

Business model

Explain your business model and revenue generation strategy. Describe how you will generate revenue, the pricing structure, and any distribution channels or partnerships that contribute to your business's success.

Marketing and sales strategy

Summarize your marketing and sales approach. Highlight the key tactics and channels you will use to reach and attract customers. Discuss your promotional strategies, pricing strategies, and customer acquisition plans.

Management team

Introduce the key members of your management team and their relevant experience. Highlight their expertise and how it positions the team to execute the business plan successfully. Include any notable advisors or board members.

Financial projections

Summarize your financial projections, including revenue forecasts, expected expenses, and projected profitability. Highlight any key financial metrics or milestones. Briefly mention your funding needs, if applicable.

Funding requirements

If seeking funding, outline your funding requirements, including the amount needed, its purpose, and the potential sources of funding you are considering. Summarize the expected return on investment for potential investors.

Reiterate the vision and potential of your business. Summarize the key points of your business plan, emphasizing its viability, market potential, and the expertise of your team. Convey confidence in the success of your venture.

Note: Keep the executive summary concise and focused, typically within one to two pages. Use clear and compelling language, emphasizing the unique aspects of your business. Tailor the template to suit your specific business plan, adjusting sections and details accordingly.

Remember, the executive summary serves as an introduction to your business plan and should pique the reader's interest, conveying the value and potential of your business in a concise and persuasive manner.

Executive summary examples

Every executive summary will be unique to the organization's goals, vision, and brand identity. We put together two general examples of executive summaries to spark your creativity and offer some inspiration. 

These are not intended to be used as-is but more to offer ideas for how you may want to put your own executive summary together. Be sure to personalize your own summary with specific statistics and relevant data points to make the most impact.

Example 1: executive summary for a communications business plan

Introduction:

We're thrilled to present our innovative [insert product] that aims to revolutionize the way people connect and engage. Our vision is to empower individuals and businesses with seamless communication solutions that break barriers and foster meaningful connections.

Market opportunity:

The communications industry is evolving rapidly, and we've identified a significant opportunity in the market. With the proliferation of remote work, the need for reliable and efficient communication tools has skyrocketed. Our extensive market research indicates a demand for solutions that prioritize user experience, security, and flexibility.

Product offering:

At [Company Name], we've developed a suite of cutting-edge communication tools designed to meet the diverse needs of our customers. Our flagship product is a unified communication platform that integrates voice, video, messaging, and collaboration features into a seamless user experience. We also offer customizable solutions for businesses of all sizes, catering to their unique communication requirements.

Unique value proposition:

What sets us apart from the competition? Our user-centric approach and commitment to innovation. We prioritize user experience by creating intuitive interfaces and seamless interactions. Our solutions are scalable, adaptable, and designed to keep up with evolving technological trends. By combining ease of use with advanced features, we deliver unparalleled value to our customers.

Target market:

Our primary focus is on small and medium-sized businesses (SMBs) that require efficient and cost-effective communication tools. We also cater to individuals, remote teams, and larger enterprises seeking reliable and secure communication solutions. Our target market encompasses industries such as technology, finance, healthcare, and professional services.

Business model:

To generate revenue, we employ a subscription-based business model. Customers can choose from different plans tailored to their specific needs, paying a monthly or annual fee. We also offer additional services such as customization, integration, and customer support, creating additional revenue streams and fostering long-term customer relationships.

Marketing and sales strategy:

Our marketing strategy centers around building brand awareness through targeted digital campaigns, content marketing, and strategic partnerships. We'll leverage social media, industry influencers, and online communities to reach our target audience. Additionally, our sales team will engage in proactive outreach, nurturing leads and providing personalized consultations to convert prospects into loyal customers.

Team and expertise:

Our team is composed of experienced professionals with a deep understanding of the communications industry. Led by our visionary founder and supported by a skilled and diverse team, we have the expertise to drive innovation, develop robust products, and deliver exceptional customer service. We're passionate about our mission and dedicated to making a lasting impact in the market.

Financial projections:

Based on extensive market research and financial analysis, we anticipate strong growth and profitability. Our financial projections indicate steady revenue streams, with increasing customer adoption and market share. We're committed to managing costs effectively, optimizing our resources, and continuously reinvesting in research and development.

Funding requirements:

To fuel our ambitious growth plans and accelerate product development, we're seeking [funding amount] in funding. These funds will be allocated towards expanding our team, scaling our infrastructure, marketing efforts, and ongoing product innovation. We believe this investment will position us for success and solidify our market presence.

Conclusion:

In summary, [Company Name] is poised to disrupt the communications industry with our innovative solutions and customer-centric approach. We're ready to make a positive impact by empowering individuals and businesses to communicate effectively and effortlessly. Join us on this exciting journey as we redefine the future of communication. Together, we'll shape a connected world like never before.

Example 2: executive summary for a project proposal

[Project Name]

[Project Proposal Date]

Hello! We're thrilled to present our project proposal for [Project Name]. This executive summary will provide you with a high-level overview of the project, its objectives, and the value it brings.

Project overview:

Our project aims to [describe the project's purpose and scope]. It's a response to [identify the problem or opportunity] and has the potential to bring significant benefits to [stakeholders or target audience]. Through meticulous planning and execution, we're confident in our ability to achieve the desired outcomes.

Objectives:

The primary goal of our project is to [state the overarching objective]. In addition, we have specific objectives such as [list specific objectives]. By accomplishing these goals, we'll create a positive impact and drive meaningful change.

Our proposed approach for this project is based on a thorough analysis of the situation and best practices. We'll adopt a structured methodology that includes [describe the key project phases or activities]. This approach ensures efficient utilization of resources and maximizes project outcomes.

The benefits of this project are truly exciting. Through its implementation, we anticipate [describe the anticipated benefits or outcomes]. These benefits include [list specific benefits], which will have a lasting and positive effect on [stakeholders or target audience].

Implementation timeline:

We've devised a comprehensive timeline to guide the project from initiation to completion. The project is divided into distinct phases, with well-defined milestones and deliverables. Our timeline ensures that tasks are executed in a timely manner, allowing us to stay on track and deliver results.

Resource requirements:

To successfully execute this project, we've identified the key resources needed. This includes [list the resources required, such as human resources, technology, equipment, and funding]. We're confident in our ability to secure the necessary resources and allocate them effectively to ensure project success.

A project of this nature requires a well-planned budget. Based on our analysis, we've estimated the required funding to be [state the budget amount]. This budget encompasses all project-related costs and aligns with the anticipated benefits and outcomes.

Our project proposal is an exciting opportunity to address [the problem or opportunity] and create tangible value for [stakeholders or target audience]. With a clear vision, defined objectives, and a robust implementation plan, we're ready to embark on this journey. Join us as we bring this project to life and make a lasting impact. 

Is an executive summary the same as a project plan?

While both are important components of project management and documentation , they serve different purposes and contain distinct information.

An executive summary, as discussed earlier, is a concise overview of a longer document or report. It provides a snapshot of the key points, findings, and recommendations. It focuses on high-level information and aims to provide an overview of the document's purpose, methodology, findings, and recommendations.

On the other hand, a project plan is a detailed document that outlines the specific activities, tasks, timelines, resources, and milestones associated with a project. It serves as a roadmap for project execution, providing a comprehensive understanding of how the project will be carried out.

A project plan typically includes objectives, scope, deliverables, schedule, budget, resource allocation, risk management, and communication strategies. It is intended for project team members, stakeholders, and those directly involved in the execution.

In summary, an executive summary offers a condensed overview of a document's key points, while a project plan provides a comprehensive and detailed roadmap for executing a project.

Executive summaries vs. abstracts

An executive summary is not the same as an abstract. Executive summaries focus on the main points of a proposal. They highlight when and why a reader should invest in the company or project.

An abstract, on the other hand, concentrates on what the business does and its marketing plan. It typically doesn’t include detailed information about finances.

While it is usually compelling, it’s less of an elevator pitch and more of a summary. The goal of an abstract is to inform, not to persuade. On the other hand, the goal of an executive summary is to give readers who are pressed for time just enough information that they’ll want to look further into your proposition.

When do you use an executive summary?

An executive summary is used in various situations where there is a need to present a condensed overview of a longer document or report. Here are some common instances when an executive summary is used:

• Business proposals: When submitting a business proposal to potential investors, partners, or stakeholders, an executive summary is often included. It provides a concise overview of the proposal, highlighting the key aspects such as the business idea, market analysis, competitive advantage, financial projections, and recommended actions.
• Reports and research studies: Lengthy reports or research studies often include an executive summary at the beginning. This allows decision-makers, executives, or other stakeholders to quickly understand the purpose, methodology, findings, and recommendations of the report without going through the entire document.
• Project updates: During the course of a project, project managers may prepare executive summaries to provide updates to stakeholders or higher-level management. These summaries give a brief overview of the project's progress, achievements, challenges, and upcoming milestones.
• Strategic plans: When developing strategic plans for an organization, an executive summary is often included to provide an overview of the plan's goals, objectives, strategies, and key initiatives. It allows executives and stakeholders to grasp the essence of the strategic plan and its implications without reading the entire document.
• Funding requests: When seeking funding for a project or venture, an executive summary is commonly used as part of the funding proposal. It provides a succinct summary of the project, highlighting its significance, potential impact, financial requirements, and expected outcomes.

In general, an executive summary is used whenever there is a need to communicate the main points, findings, and recommendations of a document concisely and efficiently to individuals who may not have the time or inclination to read the entire content. It serves as a valuable tool for understanding and facilitates quick decision-making.

5 ways project managers can use executive summaries

Project managers can use executive summaries in various ways to effectively communicate project updates, status reports, or proposals to stakeholders and higher-level management. Here are some ways project managers can use executive summaries:

• Project status updates: Project managers can provide regular executive summaries to stakeholders and management to communicate the current status of the project. The summary should include key achievements, milestones reached, challenges encountered, and any adjustments to the project plan. It allows stakeholders to quickly grasp the project's progress and make informed decisions or provide guidance as needed.
• Project proposals: When pitching a project idea or seeking approval for a new project, project managers can prepare an executive summary to present the essential aspects of the project. The summary should outline the project's objectives, scope, anticipated benefits, resource requirements, estimated timeline, and potential risks. It helps decision-makers understand the project's value and make an informed choice about its initiation.
• Project closure reports: At the end of a project, project managers can prepare an executive summary as part of the project closure report. The summary should highlight the project's overall success, key deliverables achieved, lessons learned, and recommendations for future projects. It provides a concise overview of the project's outcomes and acts as a valuable reference for future initiatives.
• Steering committee meetings: When project managers present updates or seek guidance from a steering committee or governance board, an executive summary can be an effective tool. The summary should cover the important aspects of the project, such as progress, issues, risks, and upcoming milestones. It ensures that decision-makers are well-informed about the project's status and can provide relevant guidance or support.
• Change requests: When submitting a change request for a project, project managers can include an executive summary to summarize the proposed change, its impact on the project, potential risks, and benefits. It helps stakeholders and decision-makers quickly assess the change request and make informed decisions about its implementation.

Using executive summaries, project managers can efficiently communicate project-related information to stakeholders, executives, and decision-makers. The summaries provide a concise overview of the project's status, proposals, or closure reports, allowing stakeholders to quickly understand the key points and take appropriate action.

When should you not use an executive summary?

While executive summaries are widely used in many situations, there are some cases where they may not be necessary or suitable. Here are a few scenarios where an executive summary may not be appropriate, along with alternative approaches:

• Highly technical documents: If the document contains highly technical or specialized information that requires a detailed understanding, an executive summary alone may not be sufficient. In such cases, it is better to provide the complete document and supplement it with explanatory materials, presentations , or meetings where experts can explain and discuss the technical details.
• Personal or creative writing: Executive summaries are typically used for informational or analytical documents. If the content is more personal in nature, such as a memoir, novel, or creative piece, an executive summary may not be relevant. Instead, focus on providing an engaging introduction or book blurb that entices readers and conveys the essence of the work.
• Short documents: If the document itself is already concise and can be easily read in its entirety, an executive summary may be redundant. In these cases, it is more effective to present the complete document without an additional summary.
• Interactive presentations: In situations where you can present information interactively, such as in meetings, workshops, or conferences, it may be more effective to engage the audience directly rather than relying solely on an executive summary. Use visual aids, demonstrations, discussions, and Q&A sessions to convey the necessary information and capture the audience's attention.

Final thoughts on writing a compelling executive summary

An executive summary isn’t the kitchen sink — it’s the bells and whistles. Geared toward busy decision-makers, these one-pagers communicate your case for action and proposed solutions. When it’s written well, your audience will walk away with an understanding of what needs to be done, why it needs to happen, and why they should help it move forward. 

But writing it well doesn’t just mean spell-checking. It means tailoring your communication to an influential, yet busy and distracted audience. To be effective, you’ll need to write your proposal with empathy and an understanding of what matters to them .

Allaya Cooks-Campbell

With over 15 years of content experience, Allaya Cooks Campbell has written for outlets such as ScaryMommy, HRzone, and HuffPost. She holds a B.A. in Psychology and is a certified yoga instructor as well as a certified Integrative Wellness & Life Coach. Allaya is passionate about whole-person wellness, yoga, and mental health.

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Everything you need to write a killer executive summary for your business plan

What is Executive Summary—and Why Should You Care?

Executive Summary is the first and most important section of a business plan, providing a snapshot of the overall plan with the aim to compel the reader to continue reading the full document by highlighting its most important components and strengths .

Keep reading for insider tips from a professional business writer on how exactly to write a captivating executive summary that will maximize the impact and success of your business plan.

You’ll discover:

• Why: Critical importance of an executive summary
• What: The key elements you need to include
• How: The best structure—length, layout and components

Importance: Why is Executive Summary Important in a Business Plan?

Executive summary is the most important part of a business plan because it is the first and only opportunity to grab readers’ interest as they review this section prior to deciding whether or not to read the rest of the document.

No matter how excellent your business idea, it is the executive summary alone that persuades a reader to spend more time with the plan to find out more about your venture.

Some financiers receive hundreds of business plans every month. Understandably, they do not read them all . Instead, they can tell in a couple of paragraphs if it is something they may be interested in.

The Executive Summary is so important, in fact, that some investors and lenders prefer to receive just the summary and financials before requesting the full business plan. So if you can hook your readers here, they will ask for more.

Similarly, senior decision-makers on many company or bank boards and committees will often read nothing else than an executive summary when approving a decision to back a business.

In other words, your Executive Summary is the  first impression  many readers will get of your business. Make sure it is a great one. Only a  clear ,  concise , and  compelling  summary of your business right up front twill persuade readers to wade through the rest of the plan.

Contents: What Should an Executive Summary for a Business Plan Include?

Executive summary brings the separate parts of a business plan together to sum up what the business is, where it is going, why it will be successful – and why it is worthy of backing . Highlight the most important and impressive facts about the company , management , offering , market , strategy and financials .

When completed, your executive summary will answer these questions for your readers:

• What is your business all about ?
• What are the most compelling qualities?
• Is the business likely to succeed and why?

Executive summary is an introduction to your business, which provides a brief snapshot of your plan as a whole. To that end, concisely highlight the most important concepts and impressive features from each section of your completed plan, addressing the following areas:

Essentially, you should make it crystal clear to the that a compelling market opportunity exists for your product/service and demonstrate that your business is well-positioned to exploit it .

Remember to be brief and concise . Organize the information in a way that gives the best impression of your business to your target reader. Combine related topics if that improves the flow of the document.

If the readers of your executive summary conclude that the above elements exist in your business, they are likely to commit to reading the rest of your business plan.

So, let’s examine each of the key elements in more detail to make the reader excited about the potential of your business plan and interested to read further:

Mission Statement

Answer this question for your readers:

• What is your business on a mission to create and why?

Aim: Convince the reader that your basic business concept makes sense.

Give a concise overview of your business idea, purpose and goals. Summarize why you have created this company and what your business is all about in one or two sentences, but no more than a paragraph.

Products and Services

Answer these questions for your readers:

• What product(s) and/or service(s) does your business provide?
• What problems are you solving for your target customers and how?
• What makes your product/service different and compelling for the customers to buy?

Aim: Demonstrate to the reader that your product/service solves a real problem in the market and that the problem is worth solving.

Briefly describe the products and services your company provides and what problems you solve for your target customers, making the case for why your product will be successful:

Description:

List the products or services your company sells or plans to sell.

Problem & Solution:

Explain the need for the products or services:

• Problem: Summarize the problem your product/service solves and why it is worth solving. In other words, what is it that your customers need and cannot find elsewhere.
• Solution: Summarize how you will solve the problem that your customers face.

Value Proposition:

Outline why your product or service will be valuable to your customers and the advantages that will make it compelling enough for them to purchase.

Market Opportunity

• Who are your (ideal) target customers?
• Is there a real market demand for your product/service?
• What is the size of the market opportunity?

Aim: Convince the reader that large and compelling market demand opportunity exists for your product/service.

List the target market you intend to reach and explain why you chose it:

Target Market:

Provide a brief description of your ideal customers and how do they break down into recognizable types or segments.

Market Analysis:

Indicate that you have done thorough market analysis by providing a summary of your market research results, including:

• How many potential customers are there for your solution (target market)
• What proportion of the market your company can reasonably capture (market share)
• Forecast estimating what the future holds for the industry and market demand

Competitive Advantage

• Who are your competitors?
• How is the market currently divided?
• What advantages does your company have over the competition?

Aim: Convince the reader that your business has a significant competitive edge to succeed in your target market.

This section is where you describe the gap in your target market, how your solution can fill it, and the competitive advantages that will enable you to exploit this market gap.

Hence, include information about your competition and what differentiates your business:

Competitors and Market Distribution:

Who are you up against? What other options do your customers have to address their needs? Indicate the nature of your competition and how the market is currently divided.

Competitive Advantage:

What comparative advantage does your product/service have?

Show your conclusions on your company’s competitive position and why your company will be able to compete successfully. Remember to list any important distinctions, such as patents, major contracts, or letters-of-intent.

Unique Selling Proposition:

What unique selling proposition will help your business succeed?

What makes your solution better for your customers compared to the competition?

Is competition going to get tougher?

Summarize your conclusions on whether competition is going to intensify going forward.

Company Description

Company information:.

• Is the management team capable?
• What are the basic details of your business?
• What is the company’s current stage of development?
• What are some of the milestones you’ve met?

Aim: Convince the reader that your business has the right structure and capable management team in place to succeed.

Your goal is to demonstrate that you are well-positioned to exploit the market opportunity by highlighting the positive factors in your company’s management, structure and history.

Company Details:

Include a short statement that covers the basic company details, such as the company name, when your business was formed, the names of the founders and their roles, number of employees, business location(s), and legal status.

Stage of Development:

State whether your company is a startup or continuing business, when it was founded, how far along the product or service is in its creation, and if you’ve already made sales or started shipping.

Track Record:

• If you are an established business, provide a brief history of the company’s trading activity to date, including financial and market growth highlights.
• If you are just starting a business, you won’t have as much information as an established company. Instead, focus on your experience and background as well as the decisions that led you to start this particular enterprise.

Management:

Briefly describe the bios of the key members of your management team , particularly those of company founders/owners , as well as the key professional advisors .

What do they bring to the table that will position your company well to take advantage of the market opportunity and make the business a success?

Highlight management’s vision and passion , along with the relevant skills , experience , qualifications , subject-matter expertise , business acumen , industry connections and other capabilities as they relate to the venture.

Operations:

Showcase the key operational features that will give the business a competitive edge.

This could include anything from an advantageous location, through innovative manufacturing technology and processes, to preferential supplier and distribution agreements – and anything in between.

Outline the strategy to achieve the company’s goals and continuously strengthen its competitive position.

Next, indicate the keys to success that you intend to use in order to implement that strategy, such as:

• Marketing and Sales: Briefly describe the methods you will utilize to reach your target customers to market your offering and secure sales.
• Operations and Resources: Summarize the most important resources and operational features your company will deploy to implement its strategy.

Address your plans for where you would like to take your business in the future.

Spell out the objectives you have for the company, what you plan to do:

• Where do you expect the business to be in 1 year, 3 years, 5 years ?
• What are some of the key milestones you plan to meet?
• What are your long-term goals ?
• What is your potential exit strategy ?

Make an educated projection for the expected performance of your business, including:

• Sales volume and value
• Cash flow position
• Profitability
• Number of employees
• Number of locations
• Market share
• New products

Financial Forecast

Summarize the expected financial outlook and performance for your business, answering the following questions for your readers:

• How much do you expect to make in the first year of your business?
• What kind of growth do you expect to see in the following years?
• If you do not expect your business to be profitable , do you have a strategic reason for running at a loss?
• What are the key metrics that you need to watch?
• Will your backers (if any) be able to get their money back and when ?
• Are your financial projections realistic ?

In general, it is customary to indicate financial information for years one through three or five , depending on the requirements of the business plan reader. Typically, this includes Year 1 and Year 3 / 5 results; and Year 10 / long-term goals.

However, your readers can find the detail of the projected financials further on in the plan. In this section, only provide the highlights of your forecast and encourage the reader to keep reading to learn more about your company.

Funding Requirements

How will you fund your business to get it started and grow it to the next level?

• Is it already self-sufficient?
• Do you plan to invest your own money?
• Do you seek outside financing?

If the business does not require any outside financing, you can note that here or just remove this section from your plan altogether.

When you are using the business plan for financing purposes, explain how much money is needed, from whom, and how you will utilize it to grow your business, hinting at an exit opportunity:

• Existing Source of Funds: Include information about your current lenders and investors, if any.
• Funding Requirements: Indicate how much money you are seeking, from what sources, and perhaps even under what conditions.
• Use of Funds: Specify how the raised funds will be used.
• Exit Strategy: Hint at how the backers will get their money out, with the expected timing and returns.

Tips: How Do You Write an Executive Summary?

Writing an executive summary is arguably the most fun – and important – part of writing a business plan.

You have already completed all the research, thinking and writing about market demand, competition, strategy, operations and financials.

All that is left to do now is to summarize the key conclusions into a coherent narrative , answering the million-dollar question:

Why is your plan worthy of backing?

Here are 7 tried and tested tips to prepare a compelling summary of your business that will convince the readers to read through the rest of your plan:

Target Audience (Tip #1)

Ask yourself: “Who will be reading my business plan?”

Since the summary is what the reader reads first, and may be the only section read at all, you can significantly improve your chances of a positive reception if you know the answer to that question before you prepare your executive summary.

Remember, your reader is only going to spend a few minutes , or even seconds , on your executive summary. This is especially true if you are targeting busy investors or lenders for whom it is not unusual to review more than 1,000 each year.

Naturally, the readers are going to focus on the issues that interest and concern them most . If you understand their priorities, you will be better able to craft the summary to “push the right buttons”. For example:

• Bankers are likely to look for aspects of your business that minimize risk to make sure the loan is secure and they will get their money back.
• Investors are focused on aspects that maximize the potential of your company scaling significantly and rapidly, because they will receive a share of that success.
• Management may be interested in accessing new markets for the company.

Do your homework to discover the interests and concerns of your most likely business plan recipients, and then write and organize the summary in a way that most appeals to your target audience:

• Place the issues most important to the reader near the top of your summary.
• Order the sections in any way that gives the best impression of your business to your target reader.
• In the text itself, give more emphasis to those aspects that concern your reader most.

If you are not able to identify the specific person who will read your plan, just focus on the general type of a person that is most likely to receive it and their concerns. 

However, it is not a good idea to tailor the executive summary for just one specific person or organization, especially if your plan is likely to end up in the hands multiple and/or unknown recipients.

To be on the safe side, target your summary to address general institutional concerns rather than individual preferences.

Insider Tips: Writing a Winning Executive Summary

Convey your enthusiasm (tip #2).

The Executive Summary enables the readers to quickly understand the highlights of your business and decide whether to commit more of their time to reading the full plan.

To that end, you need to motivate and entice the readers by your own optimism about how well-positioned your business is to exploit a compelling market opportunity, conveyed in a dynamic , positive and confident tone.

Write Executive Summary Last (Tip #3)

Your executive summary will be the last chapter of the business plan that you prepare.

Even though the executive summary always appears first in the completed document, it is usually crafted last after you have had a chance to carefully consider all key aspects of your business throughout the rest of the plan.

The executive summary is the place where you bring all your planning together and sum up the separate parts of your business proposal to provide an overall outline and highlight the strengths of your entire plan.

Therefore, you will find it much easier and faster to come back and produce this section once you have completed the rest of your business plan.

That way, you will have thought through all the elements of your business, work out the details, and be prepared to summarize them. This approach will not only increase the consistency and accuracy of the plan, but also help make it more compelling .

So, if you have not yet finalized the other sections of your plan, proceed to the next section, and return to the executive summary when you have completed the rest of your plan.

Once finished, the executive summary will become “ Chapter 1 ” of your business plan document.

Summarize Highlights (Tip #4)

A good summary contains highlights from all of the subsequent sections of the business plan.

To achieve that, select the key points from each section of your completed plan by summarizing conclusions you have reached in each area. Remember to focus only on the most important and impressive features of your business.

What sets your business apart from the competition? Early on in your summary, showcase your distinguishing qualities and make sure you describe your winning concept in a way that any reader can easily grasp .

Use logical writing to tell a story, freely changing the order of sections and combining related topics if that helps to improve the flow and make a good impression.

Make Each Word Count (Tip #5)

The executive summary provides a brief snapshot of your business, casting a spotlight on the most important facts and concepts from your entire business plan.

As a result, this section should be clear , concise and to the point. Make each word should count.

Avoid Jargon (Tip #6)

In case the summary read by people unfamiliar with your industry, avoid any technical jargon or provide sufficient explanatory notes .

Edit, Edit, … And Edit Some More (Tip #7)

By the time you reach the executive summary, you may be tired from all the planning and writing. However, remember that this really is the most important section of the business plan.

The best investment you can make is to spend sufficient time to perfect the summary, including ruthless editing . There are professional editors who can help you make it flawless.

Design: How Do You Design an Executive Summary?

Looks matter. Your business plan will be well researched, analysed and written, but it must also be well presented. While your plan will ultimately be judged on the quality of your business concept and strategy, you also want to make sure it gives the best first impression possible.

And nowhere is presentation more important than in the executive summary, because for all readers it will be the first page(s) they read – and some will read nothing else.

The key advice here is: Break it Up . Large, dense blocks of text intimidate readers.

Dividing the Summary text with paragraph headings, bullet points and white space makes the information on a page more inviting and appealing:

• Paragraphs: Break up the Summary into paragraphs that roughly mirror the sections of your business plan
• Brief: Keep each topic as brief as possible
• Subheads: Insert informative topic headings at the beginning of each paragraph to help readers’ quick comprehension
• Bullets: Use bullet points to highlight the most compelling information
• Numbers: Use numbers instead of words where appropriate
• Visuals: Include a (small) chart or graph if it helps to clarify an important point
• Spacing: Use white space to break up the text to make the page look less intimidating. Single space text, but leave an extra line of space between paragraphs.

Because you are limited to so few pages, it may seem counterintuitive to give up space for visual considerations, but these effective techniques make your Summary much more accessible to the business plan readers.

The way you prepare and present the executive summary is an indicator of your professionalism. A polished Summary sheds a favourable light on your business. A sloppy one works against you.

Length: How long is an executive summary?

The executive summary in a business plan should be no more than 2-3 pages in length, with 1 page being perfectly acceptable and often preferable. The advantage to the busy business plan reader is that they are able to skim through this short summary in a few seconds and read it in full in less than 5 minutes .

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How to Write a Powerful Executive Summary [+4 Top Examples]

Published: August 31, 2023

Whether you're an entrepreneur looking for investors for your small business or the CEO of a large corporation, an executive summary can help you succeed and is a critical component for long-term growth.

A short, attention-grabbing executive summary is an essential part of your business plan . Done correctly, it will ensure your company becomes or remains a key player in your industry. In this post, you’ll learn what an executive summary is and how to write one that engages investors, customers, and general audiences.

Executive Summary

An executive summary is a brief overview of a long document, such as a business plan, proposal, or report. It's a section that grabs readers’ attention and summarizes critical information from the document, such as the problem or opportunity being addressed, objectives, key findings, goals, and recommendations.

Some documents that may have an executive summary include:

• Business plans
• Research documents
• Project proposals
• Annual reports

Ultimately, the executive summary is meant to inform readers of the most important information in the document, so they don't have to read it all and can get caught up quickly.

Free Executive Summary Template

Use this executive summary template to provide a summary of your report, business plan, or memo.

• Company & Opportunity
• Industry & Market Analysis
• Management & Operations
• Financial Plan

You're all set!

Click this link to access this resource at any time.

Executive Summary vs. Business Plan

All business plans have an executive summary, but not all executive summaries belong to business plans.

A business plan includes a company overview, your company's short-term and long-term goals, information on your product or service, sales targets, expense budgets, your marketing plan, and a list including each member of your management team. In this case, the executive summary is the first section of the business plan that convinces readers that it’s worth their time to read the whole thing.

Business plans are very detailed and comprehensive, and can be as short as a dozen pages or as long as 100 pages. However, a CEO or investor might not have the interest or time to read your full business plan without first getting the general gist of your company or goals through an executive summary.

Executive Summary vs. Mission Statement

Mission statements and executive summaries are typically both found in business plans, but they serve different purposes.

A mission statement defines your organization’s purpose, values, and vision. It’s your company’s north star and communicates your core identity and reason for existence. On the other hand, an executive summary provides a high-level overview of the document.

Ultimately, your mission statement provides direction for developing your business plan, while your executive summary describes your business plan to executives and shareholders.

Executive Summary vs. Company Description

Like mission statements and executive summaries, company descriptions can also be found in business plans as well as the “About us” page of your website . It provides an overview of your business, including essential details like company history, what your company does, unique selling points, goals, management team, and overall value proposition.

Executive Summary vs. Objective

An objective is a specific goal or target that your company takes aims to achieve its overall goal. It is a concrete, measurable outcome that guides your business’s actions and decisions. Objectives are usually set at the strategic level and are typically aligned with the company’s mission, vision, and overall strategic plan.

Company objectives are often included in executive summaries, but are not the sole focus of them.

What is the purpose of an executive summary?

Writing an executive summary may not seem that necessary. After all, you can find the same information just by reading the rest of the document.

However, the executive summary serves many purposes for your document and those who read it. Here are some of the benefits of having one:

• It saves your readers time. CEOs and investors often have limited time to review lengthy documents. An executive summary allows them to quickly grasp the main points, key findings, and recommendations without needing to read the entire document.
• It provides clarity and conciseness. By providing a condensed overview, executive summaries help to distill complex information and present it in a manner that’s easy to understand.
• It helps with document navigation. For longer documents or reports, an executive summary provides a roadmap for readers. It helps them navigate through the document by signaling the main sections or topics covered, improving overall document usability and accessibility.

To write an impressive executive summary that effectively embodies all the important elements of your business plan, we've cultivated a list of necessary components for an executive summary, as well as an example to get you started.

Follow Along With HubSpot's Executive Summary Template

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How to write an executive summary.

A good executive summary tells your company’s story, contains in-depth research, conveys information with an appropriate tone, is void of clichés, and follows your business plan’s structure. These elements will ensure your executive summary is effective, informative, and impactful.

1. Tell your story.

When investors or CEO's read your executive summary, they should understand what your business is about. This is one of the first elements of your business plan, so it should set the tone.

In your executive summary, be sure to tell your story and include an overview about what your company does and why you do what you do. You can also briefly highlight important details about your company’s management.

For instance, you could talk about your founder or CEO’s qualifications and motivations. You can also provide a high-level summary of your company’s business operations and any management methods or best practices that you abide by.

You’ll also want to explain the problem or opportunity that is being addressed, and how it is valuable to investors and customers. Think of this like an elevator pitch . If someone stopped reading and you only had the executive summary to explain your company, what information would you include?

2. Highlight important data.

An executive summary, while short, should include plenty of research.

Highlight the most important findings and insights from the document, including any critical data or statistics discovered in your competitor analysis . While your business plan will flesh out the details, it's important to include your key findings in your executive summary.

You should also provide a basic rundown of your target market, how you plan on addressing their needs and pain points, and how you will reach them.

Additionally, you should include key financial information. The main points you should cover are the overall budget, the price per product/service, and your financial projections.

3. Pay attention to your tone.

Although the tone of your executive summary should be professional and concise, it should also be true to your company and target audience. Aim to convey a sense of authority and credibility while remaining accessible and engaging.

Here are some tips to keep in mind:

• Focus on presenting information objectively with facts and evidence.
• Don’t voice your personal opinions or use subjective statements.
• Strive for clarity and simplicity in your language and ensure that your message is easily understood.
• Avoid unnecessarily complexity or convolution.
• Don’t use hyperbole or excessive claims.
• Use strong verbs, active voice, and concise language to make your points effectively.
• Aim to resonate with the reader’s interests and concerns.

By striking the right balance between professionalism, clarity, and engagement, you can effectively deliver your message and compel the reader to take action or make informed decisions based on the summary.

4. Avoid cliché language.

With any style of writing, it's best to avoid clichés. Clichés can convey the wrong message or be misunderstood, which is something you want to avoid when someone reads your executive summary.

Additionally, clichés tend to overpromise and under-deliver. For example, including something like “The Best Restaurant in Town” isn‘t true because you’re untested as a business. Your executive summary should reflect the truth and who you are as a company.

To avoid clichés while writing, it’s essential to be aware of their presence. Familiarize yourself with common clichés and be mindful of them as you write. Some examples include:

• “Thinking outside the box”
• “Innovative solutions”
• “Cutting-edge technology”

Instead of relying on these overused phrases, be descriptive and embrace the uniqueness of your brand when writing your executive summary. For instance, there’s no need to vaguely refer to your product as a “game-changer,” when you could explain how it benefits your target audience instead. Show, don’t tell.

By staying true to your voice and delivering an honest message, you can keep your writing fresh and your audience engaged.

5. Write it after completing your business plan.

An executive summary is a summary of your business plan. However, it‘s hard to write a summary when you haven’t written your business plan yet. That's why your executive summary should be the final thing you write.

By saving this step for last, you’re able to gain a thorough understanding of the entire plan, including your business’s goals, strategies, market analysis, and financial projections. This enables you to accurately depict the most important aspects in your summary.

If you write you executive summary first, you’re more likely to miscommunicate the essence of your business plan to executives and shareholders. Sure, you may have an outline prepare, but not having all the information can lead to inconsistencies or inaccuracies in your summary. You also risk including irrelevant details or omitting important details that come up during the planning process.

Ultimately, writing your executive summary last ensures that precisely represents the content and findings your plan.

If you don’t have a business plan yet, don’t worry; we have a comprehensive business plan template to help you create one quickly and effectively.

Featured Resource: Business Plan Template

Download Your Free Template Here

Now that you know how to write an executive summary, let's dive into the details of what to include.

What to Include in Your Executive Summary

Your business plan should convey your company‘s mission, your product, a plan for how you’ll stand out from competitors, your financial projections, your company's short and long-term goals, your buyer persona, and your market fit.

Ultimately, an executive summary should provide a preview for investors or CEO's, so they know what to expect from the rest of your report. Your executive summary should include:

• The name, location, and mission of your company
• A description of your company, including management, advisors, and brief history
• Your product or service, where your product fits in the market, and how your product differs from competitors in the industry
• Financial considerations, start-up funding requirements, or the purpose behind your business plan — mention what you hope the reader will help your company accomplish

How long should an executive summary be?

While there is no hard and fast rule for the exact length, executive summaries typically range from one to three pages. However, it's important to note that the length should be determined by the document it accompanies and the content itself rather than a predetermined page count.

At the end of the day, your executive summary should engage the reader and highlight the most important points of your document while avoiding unnecessary details.

Feeling at a loss? Download a free template below that will take you through the executive summary creation process.

Executive Summary Template

Download Your Free Executive Summary Template Here

In this free executive summary template, you’ll be able to outline several pieces of information, including:

• Introduction: Explain what your executive summary contains.
• Company & Opportunity: Explain who you are and your biggest opportunities for growth.
• Industry & Market Analysis: Explain the state of your industry and your target market.
• Management & Operations: Explain who your key leaders are and their roles.
• Implementation & Marketing: Explain how you plan to deploy your product to the marketplace.
• Financial Plan: Explain your company’s finances. Change the verbiage depending on whether you’re writing to investors or a general audience.
• Conclusion: Summarize what you’ve covered.

Ready? Download your free executive summary template .

To understand more tactically how an executive summary should look, let’s review a few examples.

Executive Summary Examples

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Home Health Care Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their home health care businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a home health care business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your home health care business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

If you’re looking to start a home health care business, or grow your existing home health care business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your home health care business in order to improve your chances of success. Your home health care business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Home Health Care Businesses

With regards to funding, the main sources of funding for a home health care business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a home health care business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund a home health care business. They might consider funding a home health care business with a national presence, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual location could never achieve such results.

Finish Your Business Plan Today!

Home health care business plan template.

If you want to start a home health care business or expand your current one, you need a business plan. Below are links to each section of your home health care business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of home health care business you are operating and the status. For example, are you a startup, do you have a home health care business that you would like to grow, or are you operating a chain of home health care businesses.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the home health care industry. Discuss the type of home health care business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of home health care business you are operating.

For example, you might operate one of the following types of home health care businesses:

• Nursing care business : this type of home health care business is the most common, where the patient is given a doctor-approved plan of care specific to the patient’s clinical needs and delivered within the comfort of their home.  
• Physical home health care business : this type of home health care business provides physical therapy to patients who need help regaining their muscle and joint strength. 
• Home health care aides : this type of home health care business provides patients with home health care aides who assist them with basic daily tasks, such as bathing, cooking, and dressing.  

In addition to explaining the type of home health care business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of home health care patients, growth year over year, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the home health care business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the home health care industry educates you. It helps you understand the market in which you are operating. 

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your home health care business plan:

• How big is the home health care industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your home health care business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your home care agency business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: parents of elderly individuals, retired seniors, senior community program managers, etc.  

As you can imagine, the customer segment(s) you choose will have a great impact on the type of home health care business you operate. Clearly, parents of elderly individuals would want different service options and would respond to different marketing promotions than senior community program managers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most home health care businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other home health care businesses. 

Indirect competitors are other care options that people have that aren’t direct competitors. This includes hospitals, nursing homes, and people who help relatives with home health care needs. You need to mention such competition to show you understand that not everyone who needs healthcare assistance will utilize a home health care company.

With regards to direct competition, you want to describe the other home health care businesses with which you compete. Most likely, your direct competitors will be home health care businesses located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of patients do they help?
• What types of services do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior services?
• Will you provide services that your competitors don’t offer?
• Will you make it easier or faster for customers to use your services?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a home health care business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of home health care business that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to home health care, will you provide superior customer service, 24/7 call centers, or emergency services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your home health care business office. Document your location and mention how the location will impact your success. For example, is your home health care business office operated remotely, located near a main highway, near public transportation, etc. Discuss how your location might provide a steady stream of customers. 

Promotions : The final part of your home health care marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Reaching out to local websites 
• Social media marketing
• Local radio advertising

Operations Plan

While the earlier sections of your home health agency business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your home health care business, including hiring quality home care professionals, training employees, and administrative tasks.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th patient, or when you hope to reach $X in revenue. It could also be when you expect to expand your facility or launch in a new location.  

Management Team

To demonstrate your home health care business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally you and/or your team members have direct experience in managing home health care businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing home health care companies or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you assist 50 patients per month or 100? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $100,000 on building out your home health care business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a local senior living community approached you with a $50,000 partnership contract to provide home health care services for their occupants. Let’s further assume the contract would cost you $50,000 to fulfill in terms of increased staffing costs. Well, in most cases, you would have to pay that $50,000 now for employee salaries, utilities, etc. But let’s say the company didn’t pay you for 180 days. During that 180-day period, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a home health care business:

• Cost of equipment like standard nursing supplies, sanitary products, and emergency medications
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your Medicaid and Medicare certifications.  

Putting together a business plan for your home health care business is a worthwhile endeavor. If you follow the example template above, by the time you are done, you will have an expert home health care business plan; download it to PDF to show banks and investors. You will really understand the home health care industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful home health care business.

Home Health Business Plan FAQs

What is the easiest way to complete my home health care business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Home Health Care Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of home health care business you are operating and the status; for example, are you a startup, do you have a home health care business that you would like to grow, or are you operating a chain of home health care businesses?

Don’t you wish there was a faster, easier way to finish your Home Health Care business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.  

Click here to see how Growthink’s professional business plan consulting services can create your business plan for you.

Other Helpful Business Plan Articles & Templates

Executive Summary Examples for Business Plans, Project Plans, and Research Projects

By Kate Eby | February 8, 2024

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Executive summaries allow decision-makers to quickly grasp the key points of important documents and make decisions. We’ve collected a variety of executive summary examples and templates that you can use as models for your executive summaries. 

Included in this article, you’ll find a  business plan executive summary example , a  project proposal executive summary example , a  research report executive summary example , and more. Plus, learn  how to fix common executive summary mistakes .

What Are the Main Components of an Executive Summary?

An  executive summary is a concise overview of a larger document, report, or proposal. It gives high-level executives or decision-makers a quick understanding of the main points of a longer document without requiring them to read the whole text.   

These are the components you might include in an executive summary:   

• Problem Statement: Clearly state the problem or challenge the company, product, or project addresses.
• Key Proposition: Outline the proposed solution or key value proposition.
• Market Analysis: Summarize findings about the market, customer needs, or competition.
• Key Features and Benefits: Highlight the main features or benefits of the proposed solution or strategy.
• Financial Summary: Provide a snapshot of financial aspects, such as cost, revenue projections, or return on investment (ROI).
• Next Steps: Briefly describe the next steps or strategy for implementation.

Simple Executive Summary Example

The following simple executive summary presents a concise statement of key findings and links them directly to a strategic recommendation. It provides a clear snapshot of the situation and the proposed action, which is essential for an executive summary.

Problem Statement

Many small businesses struggle with inefficient inventory management, leading to lost sales and increased operational costs.

Key Proposition

Our company proposes an AI-driven inventory management system that automates tracking and forecasting, tailored for small businesses.

Market Analysis

Research shows a 40 percent increase in demand for automated inventory solutions in the small business sector, with a significant gap in affordable, user-friendly options.

Key Features and Benefits

The system offers real-time inventory tracking, predictive restocking alerts, and an intuitive interface, reducing inventory errors by an estimated 50 percent.

Financial Summary

Our projected development cost is five hundred thousand dollars with a break-even point in 18 months. The expected ROI is 200 percent in three years, tapping into a market with a potential revenue of five million dollars annually.

Development will commence in Q1 2024, with a pilot launch in Q3. Full market release is scheduled for Q1 2025, followed by targeted marketing campaigns and customer feedback integration for further enhancements.

Executive Summary Template

Download a Blank Executive Summary Template for

Microsoft Word | Google Docs

Download an Example Executive Summary Template for

Available in blank and example versions, this executive summary template guides you in succinctly presenting key information about your business plan or project to stakeholders. Simply fill in each section with relevant details to create a concise overview that highlights problems, solutions, market potential, product features, financials, and next steps.

Business Plan Executive Summary Example

Review the following example for a business plan executive summary of an eco-friendly transportation company. This example provides a clear, brief overview that is essential when you want to engage stakeholders and set the stage for more detailed discussions.

In urban areas, the lack of convenient, eco-friendly transportation options leads to increased traffic congestion and pollution.

GreenGo Mobility Solutions proposes a network of e-bike sharing stations, offering an affordable, sustainable, and flexible transportation alternative.

There is a growing trend toward eco-friendly transport in cities, with a 60 percent increase in e-bike usage. Surveys show high interest among urban commuters for more accessible e-bike options.

Key Features and Benefits 

Our e-bikes are equipped with GPS tracking and easy-to-use interfaces. The bikes are designed for urban environments, offering a convenient and environmentally friendly commuting option.

The project requires an initial investment of two million dollars, with projected annual revenue of five million dollars by the third year. We anticipate a break-even point within two years, based on subscription and pay-per-use models.

Marketing Plan Executive Summary Example

In the following example, an executive summary outlines a marketing initiative within a company, detailing both the challenge and the strategic response. It provides a clear overview of the marketing plan’s objectives, actions, and expected outcomes.

We have seen a decline in new user adoption of our company's flagship software product over the past year.

Initiate a Revitalize and Engage campaign, focusing on updating the product’s user interface and enhancing customer engagement through social media and community building.

Competitor analysis and customer feedback indicate a need for more intuitive design and stronger community presence to attract and retain users.

The campaign will introduce a sleek, user-friendly interface and a robust online community platform, aiming to increase user engagement and satisfaction.

The campaign requires a budget of five hundred thousand dollars, with an expected increase in user adoption rates by 20 percent within the first year post-implementation.

Begin a UI redesign in Q2 2024, launch a social media engagement strategy in Q3, and roll out the updated product with community features in Q4.

Project Proposal Executive Summary Example

The example executive summary below demonstrates a well-structured project proposal that succinctly identifies a specific challenge and proposes an actionable solution. It provides a comprehensive snapshot of the project, including its rationale, expected benefits, financial implications, and implementation timeline.

Our current customer relationship management (CRM) system is outdated, leading to inefficiencies in sales tracking and client management.

We propose the development and implementation of a new, custom-built CRM system to streamline sales processes and enhance customer engagement.

Internal analysis indicates a 35 percent increase in process efficiency with a modern CRM system, while competitor benchmarking shows significant advantages in customer retention.

The new CRM will offer real-time sales tracking, automated client communication tools, and advanced analytics features, improving sales efficiency and customer satisfaction.

The estimated project cost is two million dollars, with a projected increase in sales efficiency by 50 percent and customer retention by 20 percent within two years.

Initiate the project in Q2 2024, with phase-wise implementation and employee training, aiming for full deployment by the end of Q4 2024.

Startup Executive Summary Example

Startups need to communicate their vision to potential investors and key stakeholders. In this example, an executive summary helps convey the startup’s vision with a concise summary of the business opportunity, unique selling proposition, market potential, and action plan.

There is a growing demand for sustainable and eco-friendly home cleaning products, but the market lacks options that are both effective and affordable.

EcoClean Innovations is a startup offering a line of environmentally friendly, biodegradable cleaning products made from natural ingredients, catering to eco-conscious consumers.

Market trends show a 50 percent increase in consumer preference for green homecare products, with a significant gap in cost-effective options.

Our products are non-toxic and competitively priced, and they have a minimal environmental footprint, addressing the need for effective and sustainable cleaning solutions.

We require an initial investment of one million dollars, projecting a 30 percent market penetration in the eco-friendly segment within the first two years.

Launch with an initial range of products by Q3 2024, followed by marketing campaigns targeting eco-conscious communities and online marketplaces.

Real Estate Development Executive Summary Example

In the following executive summary example for a construction project, the author outlines their vision for the Greenway Residential Complex. This summary captures the essence of the construction project proposal, presenting key information in a concise and structured format.

The growing urban population in Metro City has led to a shortage of affordable, eco-friendly housing options, resulting in increased living costs and environmental concerns. Key Proposition

Our project proposes the development of the Greenway Residential Complex, a sustainable and affordable housing solution. Utilizing innovative construction methods and eco-friendly materials, the complex aims to provide a balanced urban living experience that is both cost-effective and environmentally responsible.

Research indicates a high demand for eco-conscious housing in Metro City, with a market gap in affordable segments. Surveys show that young families and professionals are actively seeking sustainable living options that align with their environmental values and budget constraints.

• Sustainable design incorporating solar panels, rainwater harvesting, and green spaces
• Affordable pricing, targeting middle-income families and young professionals
• Proximity to public transportation and city centers, reducing commute times and the carbon footprint
• High-quality, energy-efficient building materials, ensuring lower utility costs and a smaller environmental impact
• Estimated project cost: Fifty million dollars
• Anticipated revenue from sales: Seventy million dollars, with a projected ROI of 40 percent over five years
• Funding secured from green building grants and private investors
• Finalize construction permits and approvals by Q2 2024.
• Begin construction in Q3 2024, with a projected completion date in Q4 2026.
• Launch a marketing campaign targeting eco-conscious families and professionals. Tip:  In this example, notice how helpful it is to use bullet points to convey certain information. Using bulleted lists is a great way to organize and present information in an executive summary.

Construction Project Executive Summary Example

Construction projects have many moving parts, which means executive summaries need to capture a lot of information in a small space. Consider a construction-specific executive summary template to ensure that stakeholders are keyed into the most vital project information.

Download a Blank Construction Project Executive Summary Template for

Microsoft Word |  Adobe PDF | Google Docs

Download an Example Construction Project Executive Summary Template for

Microsoft Word | Adobe PDF | Google Docs

This construction project executive summary template allows users to give a high-level overview of the key aspects of a project, such as status, risks, issues, and changes. Available in both blank and sample versions, this editable template condenses complex project information into an easily digestible format. To use it, simply fill in each section with relevant, concise information about the current state and progress of your construction project, ensuring it remains updated and reflective of any changes or developments.

Renewable Energy Initiative Executive Summary Example

A renewable energy initiative executive summary should highlight the project’s objectives, strategies, and potential impact, as well as its contribution to environmental sustainability. In the following example, the summary articulates the project’s vision and its alignment with global environmental goals.

The urgent need to address environmental challenges and the increasing global demand for energy underscore the importance of transitioning to renewable energy sources. The reliance on traditional fossil fuels is unsustainable and contributes significantly to climate change.

The SunWind Project is a pioneering initiative combining solar and wind power to create a robust and sustainable energy solution. This project aims to leverage the strengths of both solar and wind energy, ensuring a continuous and reliable power supply while significantly reducing carbon emissions.

The renewable energy sector is experiencing rapid growth, fueled by global environmental policies and a rising consumer preference for sustainable energy. This shift presents an opportunity for the SunWind Project.

The project is unique in its integration of solar panels and wind turbines, ensuring consistent energy production under varying weather conditions. This scalable approach is designed to adapt to increasing energy demands. By significantly reducing the carbon footprint, the project supports global environmental sustainability goals and has the potential to power thousands of homes and businesses.

The SunWind Project has an estimated cost of two hundred million dollars, with projected revenues from energy sales anticipated to be around three hundred million dollars over the next 10 years. This represents a potential ROI of 50 percent. The project is poised to benefit from green energy grants, government subsidies, and private investments.

Immediate steps include securing the necessary environmental permits and clearances. The construction phase, slated to begin in the second quarter of 2024, will focus on installing solar panels and wind turbines, with a goal to commence energy production by the end of 2025.

One-Paragraph Healthcare Executive Summary Example

An executive summary of a healthcare initiative needs to do the following: concisely identify a pressing healthcare issue, present a tailored solution with its benefits, summarize market needs and competition, and outline the financial viability and next steps. 

In the following example, notice how an executive summary can capture all key elements in a single paragraph:

The HealthFirst Community Wellness Initiative addresses the critical problem of rising chronic illness rates in urban areas, focusing on diabetes and heart disease. Our comprehensive solution involves launching community health centers that provide preventive care, lifestyle education, and regular health screenings, as well as cater to the specific needs of urban populations. Market analysis indicates a significant demand for accessible healthcare services in these areas, with a lack of preventive and educational resources being a key gap. The initiative’s main features include state-of-the-art diagnostic tools, personalized health plans, and collaboration with local fitness and nutrition experts, offering benefits such as improved community health outcomes and reduced healthcare costs. Financially, the project is expected to be sustainable, with a mix of funding from public health grants and private partnerships. We are projecting a positive ROI within three years due to reduced hospital admissions. The next steps involve securing funding, establishing partnerships with local health professionals and organizations, and launching a pilot center in the downtown district, with a plan to expand to five more urban areas within two years.

Nonprofit Executive Summary Example

An executive summary for a nonprofit organization should communicate the essence of a project or initiative to donors and volunteers. It should concisely outline the organization’s mission, goals, and key solutions while also detailing strategies, actions, and their impact.

  This  executive summary example from Doctors Without Borders emphasizes the inadequacy of current Universal Health Coverage (UHC) agendas in meeting the needs of vulnerable populations. It then proposes six key recommendations to address these shortcomings. 

This executive summary succinctly identifies the core issue — inequitable access to healthcare — and clearly outlines actionable recommendations. This document helps facilitate advocacy and policy change, which are central to this organization’s goals.

Research Report Executive Summary Example

An executive summary in a research report concisely presents the key findings, conclusions, and recommendations derived from a research project. It covers elements such as the project topic, background, research methods, and critical insights, tailored for quick understanding and decision-making.

In this real-world  exampl e from the ASPCA , the executive summary details a study showing that veterinary hospitals’ proactive discussions about pet health insurance positively impacted hospital revenue and increased patient visits. 

Notice how this summary concisely outlines the study’s purpose, methodology, and significant findings, providing a clear overview for readers. In addition, it highlights the study’s relevance and implications for veterinary practices, emphasizing the practical benefits of educating clients about pet health insurance.

Research Report Executive Summary Template

Download a Blank Research Report Executive Summary Template for

Microsoft Word |  Adobe PDF | Google Docs Download an Example Research Report Executive Summary Template for

To create your own research report executive summary, download this customizable template. Available in blank and example versions and three printable formats, this template serves as a structured guide to organize and present the key components of a research report. Simply fill in each section with specific details about your research, including the project topic, background information, methods used, conclusions, and recommendations.

Research Project Proposal Executive Summary Example

An executive summary for a research project focuses mainly on the research question, methods, and expected outcomes. These summaries often point out how important the research could be and what impact it might have on the field.  

Download a Blank Research Project Proposal Executive Summary Template for Microsoft Word | Google Docs  

Download an Example Research Project Proposal Executive Template for Microsoft Word | Google Docs

Teams can use this one-page executive summary — available in a blank or sample version — to concisely present the key elements of a research project to stakeholders, potential funders, or academic committees. By structuring the summary with specific sections such as background, objectives, and methodology, you can be sure that you’ve clearly and briefly outlined all critical aspects of your research.

Executive Summary Slide Example

Executive summaries are often documents that one distributes to executives, potential investors, and other stakeholders. However, slideshow presentations can facilitate a more interactive discussion. Plus, the inclusion of charts, graphs, and other images can better illustrate key points.  

Download an Example Single Slide Executive Summary Template for

PowerPoint | Google Slides

Download a Blank Single Slide Executive Summary Template for

This executive summary slide template is a versatile tool for succinctly conveying key project information in a single, visually engaging slide. You can enter your project information in the blank template or download the sample version for additional guidance. Input relevant details in each section, such as an overview of your project and next steps. The template allows users to insert their own text, graphics, and data. Copy your completed slide into a longer presentation, or use it on its own as a visual complement to any stakeholder presentation.

How to Improve Your Executive Summary

A poorly constructed executive summary can serve as an instructive example of what to avoid. Ineffective executive summaries might be too detailed or technical, lack focus on key points, or omit a clear call to action. 

Here are examples of the three most common mistakes found in executive summaries:

Includes Too Many Details or Technical Information

This example demonstrates one of the most common mistakes, which is including too much detail or overly technical language. It dives deeply into the specific technical specifications of the equipment and financial metrics, which might be overwhelming for readers. A more effective executive summary would focus on the broader objectives, expected impacts, and benefits of the project in a language that is accessible to a non-technical audience.

Lacks Focus on Key Points  

Sometimes, summaries fail to clearly highlight the most critical aspects of the project or proposal. This summary lacks focus concerning the key points of the Pathways to Knowledge project. A more effective summary would concisely state the project’s goal, significance, and anticipated outcomes.

Omits a Clear Call to Action or Conclusion  

Failing to include a clear conclusion or call to action is another common mistake. The summary should not only inform but also persuade and guide the reader toward the desired action or decision. This summary outlines the project’s goals and structure, but omits a clear call to action. The document doesn’t specify what is expected from the reader or potential stakeholders, such as support, partnership, funding, or involvement in the project.

Corrected Example

To create a more effective example, start by removing overly technical details. (Stakeholders don’t need to know the specific standards with which the training modules are aligned or which types of processors power your computers.) Next, take out unnecessary details that stray from the main point of the project. An executive summary is not the place to discuss the origins of the project idea or the elements your team has not yet decided on. Finally, always conclude your executive summary with a clear call to action.

The Pathways to Knowledge project is a pioneering educational initiative by a nonprofit organization, aimed at bridging the educational divide in underprivileged and remote communities. This project involves the deployment of Mobile Education Hubs: state-of-the-art, solar-powered mobile units that are equipped with educational resources, technology, and internet access. These hubs are designed to travel to various underserved areas, providing children and adults with access to quality educational materials, online learning platforms, and virtual tutoring. Each hub also hosts workshops and seminars led by educators and experts, covering a wide range of subjects from basic literacy and numeracy to vocational training and digital literacy. The initiative seeks to empower communities by enhancing educational opportunities, fostering a culture of lifelong learning, and equipping individuals with the skills necessary for the 21st-century job market. By focusing on accessibility and adaptability, the Pathways to Knowledge project aspires to create a ripple effect of educational advancement and social upliftment across diverse communities.

Master the Art of Writing Executive Summaries with Examples for Business Plans, Project Plans, and Research Projects from Smartsheet

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5 Steps for Writing an Executive Summary

Table of Contents

Anyone starting a new business must create a business plan that clearly outlines the organization’s details and goals. The executive summary is a crucial element of that business plan.

We’ll explore five steps to writing your business plan’s executive summary, including what to include and avoid. We’ll also point you toward executive summary templates to help you get started. 

What is an executive summary?

New entrepreneurs or business owners typically use a business plan to present their great business idea to potential stakeholders like angel investors . The purpose of the business plan is to attract financing from investors or convince banking executives to get a bank loan for their business . An executive summary is a business plan overview that succinctly highlights its most essential elements. 

It’s not just a general outline; the executive summary might be the only part of your business plan that busy executives and potential investors read. 

“The executive summary of a business plan is designed to capture the reader’s attention and briefly explain your business, the problem you are solving, the target audience, and key financial information,” Ross Kimbarovsky, CEO and founder of Crowdspring, told Business News Daily. “If the executive summary lacks specific information or does not capture the attention of the reader, the rest of the plan might not be read.”

While your executive summary should be engaging and comprehensive, it must also be quick and easy to read. These documents average one to four pages – ideally, under two pages – and should comprise less than 10% of your entire business plan.

Along with an executive summary, a business plan will include your business’s legal structure , the products and services you sell, and a financial plan with sales forecasts .

How do you write an executive summary?

Your executive summary will be unique to your organization and business plan. However, most entrepreneurs and business owners take the following five steps when creating their executive summary.

• Write your business plan first. The executive summary will briefly cover the most essential topics your business plan covers. For this reason, you should write the entire business plan first, and then create your executive summary. The executive summary should only cover facts and details included in the business plan.
• Write an engaging introduction. What constitutes “engaging” depends on your audience. For example, if you’re in the tech industry, your introduction may include a surprising tech trend or brief story. The introduction must be relevant to your business and capture your audience’s attention. It is also crucial to identify your business plan’s objective and what the reader can expect to find in the document.
• Write the executive summary. Go through your business plan and identify critical points to include in your executive summary. Touch on each business plan key point concisely but comprehensively. You may mention your marketing plan , target audience, company description, management team, and more. Readers should be able to understand your business plan without reading the rest of the document. Ideally, the summary will be engaging enough to convince them to finish the document, but they should be able to understand your basic plan from your summary. (We’ll detail what to include in the executive summary in the next section.)
• Edit and organize your document. Organize your executive summary to flow with your business plan’s contents, placing the most critical components at the beginning. A bulleted list is helpful for drawing attention to your main points. Double-check the document for accuracy and clarity. Remove buzzwords, repetitive information, qualifying words, jargon, passive language and unsupported claims. Verify that your executive summary can act as a standalone document if needed.
• Seek outside assistance. Since most entrepreneurs aren’t writing experts, have a professional writer or editor look over your document to ensure it flows smoothly and covers the points you’re trying to convey.

What should you include in an executive summary?

Your executive summary is based on your business plan and should include details relevant to your reader. For example, if your business plan’s goal is pitching a business idea to potential investors , you should emphasize your financial requirements and how you will use the funding. 

The type of language you use depends on whether your audience consists of generalists or industry experts.

While executive summary specifics will vary by company, Marius Thauland, business strategist at OMD EMEA, says all executive summaries should include a few critical elements:

• Target audience
• Products and services
• Marketing and sales strategies
• Competitive analysis
• Funding and budget allocation for the processes and operations
• Number of employees to be hired and involved
• How you’ll implement the business plan 

When synthesizing each section, highlight the details most relevant to your reader. Include any facts and statistics they must know. In your introduction, present pertinent company information and clearly state the business plan’s objective. To pinpoint key messages for your executive summary, ask yourself the following questions: 

• What do you want the reader to take away from the document? 
• What do you want to happen after they read it? 

“Put yourself in the business plan reader’s shoes, and think about what you would like to know in the report,” Thauland advised. “Get their attention by making it simple and brief yet still professional. It should also attract them to read the entire document to understand even the minute details.”

If securing financing is your priority, read our reviews of the best business loans to compare options.

What should you avoid in an executive summary?

When writing your executive summary, be aware of the following common mistakes: 

• Making your executive summary too long. An executive summary longer than two pages will deter some readers. You’re likely dealing with busy executives, and an overlong stretch of text can overwhelm them.
• Copying and pasting from other executive summary sections. Reusing phrases from other sections and stringing them together without context can seem confusing and sloppy. It’s also off-putting to read the same exact phrase twice within the same document. Instead, summarize your business plan’s central points in new, descriptive language.
• Too many lists and subheadings in your executive summary. After one – and only one – introductory set of bullets, recap your business plan’s main points in paragraph form without subheadings. Concision and clarity are more important for an executive summary than formatting tricks.
• Passive or unclear language in your executive summary. You’re taking the reins of your business, and your executive summary should show that. Use active voice in your writing so everyone knows you’re running the show. Be as clear as possible in your language, leaving no questions about what your business will do and how it will get there.
• Avoid general descriptions in your executive summary. Kimbarovsky said it’s best to avoid generalities in your executive summary. For example, there’s no need to include a line about “your team’s passion for hard work.” This information is a given and will take attention away from your executive summary’s critical details.
• Don’t use comparisons in your executive summary. Kimbarovsky also advises staying away from comparisons to other businesses in your executive summary. “Don’t say you will be the next Facebook, Uber or Amazon,” said Kimbarovsky. “Amateurs make this comparison to try and show how valuable their company could be. Instead, focus on providing the actual facts that you believe prove you have a strong company. It’s better if the investor gives you this accolade because they see the opportunity.”

When you’re starting a new business, the first people you should hire include a product manager, chief technology officer (CTO) , chief marketing officer and chief financial officer.

Executive summary templates and resources

If you’re writing an executive summary for the first time, online templates can help you outline your document. However, your business is unique, and your executive summary should reflect that. An online template probably won’t cover every detail you’ll need in your executive summary. Experts recommend using templates as general guidelines and tailoring them to fit your business plan and executive summary.

To get you started, here are some popular executive summary template resources:

• FormSwift. The FormSwift website lets you create and edit documents and gives you access to over 500 templates. It details what an effective executive summary includes and provides a form builder to help you create your executive summary. Fill out a step-by-step questionnaire and export your finished document via PDF or Word.
• Smartsheet. The Smartsheet cloud-based platform makes planning, managing and reporting on projects easier for teams and organizations. It offers several free downloadable executive summary templates for business plans, startups, proposals, research reports and construction projects.
• Template.net. The Template.net website provides several free business templates, including nine free executive summary templates that vary by project (e.g., business plan, startup, housing program development, proposal or marketing plan). Print out the templates and fill in your relevant details.
• TemplateLab. The TemplateLab website is a one-stop shop for new business owners seeking various downloadable templates for analytics, finance, HR, marketing, operations, project management, and time management. You’ll find over 30 free executive summary templates and examples.
• Vertex42. The Vertex42 website offers Excel templates for executive summaries on budgets, invoices, project management and timesheets, as well as Word templates for legal forms, resumes and letters. This site also provides extensive information on executive summaries and a free executive summary template you can download into Word or Google Docs.

Summing it all up

Your executive summary should preview your business plan in, at most, two pages. Wait until your business plan is complete to write your executive summary, and seek outside help as necessary. A thorough, engaging business plan and executive summary are well worth the time and money you put into them. 

Max Freedman contributed to the reporting and writing in this article. Some source interviews were conducted for a previous version of this article.

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Executive Summary of the Business Plan

How to Write an Executive Summary That Gets Your Business Plan Read

Susan Ward wrote about small businesses for The Balance for 18 years. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.

CP Cheah / Getty Images

An executive summary of a business plan is an overview. Its purpose is to summarize the key points of a document for its readers, saving them time and preparing them for the upcoming content.

Think of the executive summary as an advance organizer for the reader. Above all else, it must be clear and concise. But it also has to entice the reader to read the rest of the business plan .

This is why the executive summary is often called the most important part of the business plan. If it doesn’t capture the reader's attention, the plan will be set aside unread—a disaster if you've written your business plan as part of an attempt to get money to start your new business . (Getting startup money is not the only reason to write a business plan; there are other just-as-important reasons .)

Because it is an overview of the entire plan, it is common to write the executive summary last (and writing it last can make it much easier).

What Information Goes in an Executive Summary?

The information you need to include varies somewhat depending on whether your business is a startup or an established business.

For a startup business typically one of the main goals of the business plan is to convince banks, angel investors , or venture capitalists to invest in your business by providing startup capital in the form of debt or equity financing .

In order to do so you will have to provide a solid case for your business idea which makes your executive summary all the more important. A typical executive summary for a startup company includes the following sections:

• The business opportunity. Describe the need or the opportunity.
• Taking advantage of the opportunity. Explain how will your business will serve the market.
• The target market . Describe the customer base you will be targeting.
• Business model . Describe your products or services and and what will make them appealing to the target market.
• Marketing and sales strategy . Briefly outline your plans for marketing your products and services.
• The competition. Describe your competition and your strategy for getting market share. What is your competitive advantage, e.g. what will you offer to customers that your competitors cannot?
• Financial analysis. Summarize the financial plan including projections for at least the next three years.
• Owners/Staff. Describe the owners and the key staff members and the expertise they bring to the venture.
• Implementation plan. Outline the schedule for taking your business from the planning stage to opening your doors.

For established businesses the executive summary typically includes information about achievements, growth plans , etc. A typical executive summary outline for an established business includes:

• Mission Statement . Articulates the purpose of your business. In a few sentences describe what your company does and your core values and business philosophy.
• Company Information. Give a brief history of your company —d escribe your products or services, when and where it was formed, who the owners and key employees are, statistics such as the number of employees, business locations, etc.
• Business Highlights. Describe the evolution of the businesshow it has grown, including year-over-year revenue increases, profitability, increases in market share, number of customers, etc.
• Financial Summary. If the purpose of updating the business plan is to seek additional financing for expansion, then give a brief financial summary.
• Future goals. Describe your goals for the business . If you are seeking financing explain how additional funding will be used to expand the business or otherwise increase profits.

How Do I Write an Executive Summary of a Business Plan?

Start by following the list above and writing one to two sentences about each topic (depending on whether your business is a startup or an established business). No more! 

The Easy Way of Writing One

Having trouble getting started? The easiest way of writing the executive summary is to review your business plan and take a summary sentence or two from each of the business plan sections you’ve already written.

If you compare the list above to the sections outlined in the  Business Plan Outline , you’ll see that this could work very well.

Then finish your business plan’s executive summary with a clinching closing sentence or two that answers the reader’s question, “Why is this a winning business?”

For example, an executive summary for a pet-sitting business might conclude: “The loving on-site professional care that Pet Grandma will provide is sure to appeal to both cat and dog owners throughout the West Vancouver area.”

(You may find it useful to read the entire Pet Grandma  executive summary example  before you write your own.)

Tips for Writing the Business Plan’s Executive Summary

• Focus on providing a summary.  The business plan itself will provide the details and whether bank managers or investors, the readers of your plan don’t want to have their time wasted.
• Keep your language strong and positive.  Don’t weaken your executive summary with weak language. Instead of writing, “Dogstar Industries might be in an excellent position to win government contracts,” write “Dogstar Industries will be in an excellent position.”
• Keep it short–no more than two pages long . Resist the temptation to pad your business plan’s executive summary with details (or pleas). The job of the executive summary is to present the facts and entice your reader to read the rest of the business plan, not tell him everything.
• Polish your executive summary.  Read it aloud. Does it flow or does it sound choppy? Is it clear and succinct? Once it sounds good to you, have someone else who knows nothing about your business read it and make suggestions for improvement.
• Tailor it to your audience.  If the purpose of your business plan is to  entice investors , for instance, your executive summary should focus on the opportunity your business provides investors and why the opportunity is special. If the purpose of your business plan is to get a small business loan , focus on highlighting what traditional lenders want to see, such as management's experience in the industry and the fact that you have both collateral and strategies in place to minimize the lender's risk.
• Put yourself in your readers’ place. And read your executive summary again. Does it generate interest or excitement in the reader? If not, why? Also try giving it to a friend or relative to read, who is not engaged in the business. If you've done a good job on the executive summary, an impartial third party should be able to understand it.

Remember, the executive summary will be the first thing your readers read. If it's poorly written, it will also be the last thing they read, as they set the rest of your business plan aside unread.

Office of the Comptroller of the Currency. " Business Plan Guidelines ," Page 2.

Corporate Finance Institute. " Executive Summary ."

United Nations Conference on Trade and Development. " How to Prepare Your Business Plan ," Page 167.

Iowa State University. " Types and Sources of Financing for Start-up Businesses ."

U.S. Small Business Administration. " Write Your Business Plan ."

Clute Institute. " Using Business Plans for Teaching Entrepreneurship ," Page 733.

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• Writing Tips

How to Write an Executive Summary for a Business Plan

3-minute read

• 19th November 2023

An executive summary is the part of a business plan that gives an outline of the main plan. So to write an executive summary, we first need to read the business plan carefully and understand its key points. These key points are what we will condense to form the executive summary. It’s important to ensure that the executive summary can stand alone because plenty of users will read only that and not the main business plan. We could say that the business plan is the original TL;DR (too long; didn’t read)!

But first, let’s take a quick look at what goes into a business plan so we can focus on the sections we need for our executive summary.

What Is a Business Plan?

A business plan is a document that sets out a business’s strategy and the means of achieving it. The business plan usually contains the following sections:

How to Write an Executive Summary

The executive summary covers the same headings as the main business plan but not in so much detail. This is where our editing skills come to the fore!

The following six steps explain how to approach writing the executive summary.

Consider the Audience

Who will be using the summary? The business plan might be issued only to a very specific group of people, in which case, their needs are paramount and specialized. If the business plan is going out on wider release, we need to think about what a general reader will want to know.

Check That It Makes Sense on Its Own

Make sure the summary can be read as a stand-alone document for users who won’t read the whole plan.

Use Formatting Effectively

Make good use of formatting, headings, numbering, and bullets to increase clarity and readability.

Keep It Brief

One page (or around ten percent of the total word count for a large document) is great.

Avoid Jargon

Try to avoid jargon and use straightforward language. Readers of the executive summary might not have business backgrounds (for instance, if they are friend and family investors in a small start-up business).

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Proofread the Executive Summary

The executive summary will very likely be the first – and perhaps the only – part of the business plan some people will read, and it must be error-free to make a professional impression.

●  Consider the audience .

●  Ensure that the executive summary can stand alone.

●  Use formatting tools to good advantage.

●  Keep it brief.

●  Keep it simple.

●  Proofread it.

If you’d like an expert to proofread your business plan – or any of your writing – get in touch!

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How to Write a Business Plan Executive Summary

• Written By Dave Lavinsky

What is the Executive Summary?

A business plan executive summary is a short overview of your business plan for investors who are interested in learning more about your startup or existing business. It should be concise, engaging, and informative.

What is the Purpose of the Business Plan Executive Summary?

The purpose of an executive summary is to give potential investors insight into your goals and intentions as well as an understanding of the specifics surrounding your business. It includes all the information the reader needs to know in order to make an investment decision.

The executive summary is the first thing that your audience will read to get an idea about what your business is all about. You can make it easy for them by providing a concise explanation of what your business does, why it’s needed, how you plan on making money from it, and what customers you’re targeting. This means that the document needs to cover all these important points while being brief enough to not scare away readers who might want more information about your business venture.

How Long Should a Business Plan Executive Summary Be?

The executive summary for a business plan should generally be between one and three pages long; more than that may appear excessive to the reader, while less may not provide enough information to convince an investor to provide funding for your company.

Steps to Writing an Executive Summary

• Write the Executive Summary Last . Once you’ve completed writing your entire business plan, you’ll have learned the key points which set your business apart and which should convince readers to join you.
• Make a List of the Most Important Points . Write a sentence or bullet point for each argument you want to include in the executive summary. Include all the things you want to cover in your summary, including market research and analysis, management team, financial information, product development plans, and projected growth plans. You can also use headers to keep your thoughts organized.
• Describe Your Company’s Unique Background . Potential investors will want to know what makes you qualified to execute on your ideas, so here’s where you elaborate on all of your experience and insight into the business world. Include any other projects that your team members have been successful with in the past along with information regarding why you’re qualified to achieve the business’ goals.
• Identify Your Product or Service . You need to provide a description that gives potential investors a clear image of what you’re offering whether it’s something tangible, like a product, or something intangible, like software or a service.
• Explain the Benefits of Your Product or Service . This is a key part of your executive summary. Here you need to identify why your product or service is better than other options and how it appeals to your target audience.
• Address Issues or Concerns Head On . Your potential investors are going to want to know if there are any risks involved with working with their company so they can decide if they want to take them on. Here you need to talk about the problems that may arise from implementing your plan and how they can be addressed if or when they happen.
• Describe Your Management Team . Document the qualifications of your team and how your team has the experience and expertise to make your company a success.

Tips for a Great Executive Summary

Make it short but informative. If you can summarize the key points in just one page, do it. If you need up to 3 pages to detail the key information, that’s ok too.

Investors invest in people more than ideas. The most successful business plan summaries highlight the founders’ passion and enthusiasm for their project as well as their background and achievements. Investors want to know about the team members involved in the venture – who are they? Why do they matter? Who is managing whom? How experienced are the entrepreneurs?

Explain exactly what your product or service does. This includes how it will benefit customers and why there’s a need for it. You should also show how your business is different and why you’re better than the competition.

Make sure you proofread everything. It all comes down to attention to detail, so make sure there are no spelling mistakes or grammatical errors before you distribute the document. Not only will this make it look professional, but it’ll also show potential investors that you respect their time and don’t plan on wasting it by making careless mistakes during your business endeavors.

Business Plan Executive Summary Example

The executive summary is a brief overview of your business that serves as the first thing an investor will read when they consider investing in your business. It should be concise and informative without sounding like a marketing brochure. It includes all the information needed for them to make their decision about whether or not they want to invest in your business venture.

Below is an example of an executive summary:

Hosmer Sunglasses Executive Summary

Company & concept.

Hosmer Sunglasses (hereinafter referred to as “Hosmer” or “the Company”), is a California-based sunglass manufacturer offering the most cutting-edge sunglass frames in the world today. Along with a chic appearance, DNS frames have a unique characteristic that satisfies sport enthusiast consumers – silicon hinges. These hinges are exceptionally flexible and can be bent from a 90-degree angle to a 180-degree angle without breaking. This characteristic results in an intricate blend of comfort and durability heretofore unseen in the sunglass industry.

The Hosmer brand is poised for success in the U.S., and throughout North America, because it is a proven, unique product with meaningful consumer benefits. Consider the following:

• The Hosmer brand is currently distributed in France, Germany, Belgium, Spain, and England, where over the past two years, over 1 million pairs have been sold per year.
• The brand’s success in fashion-conscious France and western Europe should translate well to fashion-conscious Americans.
• Hosmer’s hinge differentiates the brand from every other sunglass company. It is a unique product difference that provides consumers with both fashion and performance, two key consumer needs.
• Hosmer recently launched U.S. operations and has already sold Hosmer sunglasses through nearly 15 retailers in four western states, and has established endorsements with over 20 sports celebrities.

Hosmer has a solid foundation from which to grow, great products with unique features, a superb management team, and an ideal climate to break into the $2.9 billion U.S. sunglass industry.

Industry Analysis

According to the Sunglass Association of America, retail sales of plano (non-prescription) sunglasses, clip-on sunglasses, and children’s sunglasses (hereinafter collectively referred to as “sunwear”) totaled $2.9 billion last year. Premium-priced sunglasses are driving the plano sunwear market. Plano sunglasses priced at $100 or more accounted for more than 49% of all sunwear sales among independent retail locations last year.

The Sunglass Association of America has projected that the dollar volume for retail sales of plano sunwear will grow 1.7% next year. Plano sunglass vendors are also bullish about sales in this year and beyond as a result of the growth of technology, particularly the growth of laser surgery and e-commerce.

Customers and Competition

Buyers of premium sports sunglasses are typically males aged 15-35 who participate in non-traditional outdoor sports referred to as “extreme sports” — i.e., skateboarding, snowboarding, surfing, mountain bike riding, and motorcycling. They also include participants of certain traditional sports, including skiing, volleyball, and golf.

Customer ratings show that a key need of extreme sports participants with regards to sunglasses is durability. While many participants are satisfied with the looks of sunglasses by manufacturers such as Oakley, they vigorously complain that such glasses tend to break easily. Since sunglasses are most prone to break at the hinge, and since Hosmer sunglasses have silicon hinges, they are unlikely to break. And, although several companies market premium sports sunglasses to this customer base, none manufactures sunglasses with silicon hinges or with the superior quality of DNS frames.

Within the premium sunglass market, it is projected that Hosmer’s primary competitors will be Smith, Dragon, Arnette (owned by Luxottica Group), Spy, Black Flys, Oakley, and Bolle.

Marketing Plan

Hosmer’s initial target market is males aged 15-35 who participate in the extreme and traditional sports noted above. This group consists primarily of “early adopters” who are most likely to be attracted to the unique Hosmer brand. Penetrating this segment will build a “buzz” around the brand, which will cause other customer groups to purchase the product soon thereafter.

Hosmer will initially offer the 8 DNS frames that have hinges. These frames will be available in a variety of colors and lens types, resulting in a selection of approximately 50 different SKUs. Hosmer controls the lenses it installs in the DNS frames. Currently, the Company uses Paletz Sulter lenses and is considering a switch to Sola lenses for some or all its frames. Both Paletz Sulter and Sola are top-notch brands, either of which would protect Hosmer wearers from the well-documented perils of excessive exposure to sunlight. By virtue of the superior design and quality of both its frames and lenses, Hosmer’s sunglasses command a premium price of $90 to $130.

Distribution will be developed through a network of representatives. At the outset, Hosmer will utilize the following outlets for distribution of the Hosmer brand: (1) independent sporting goods specialty stores; (2) sporting goods retail chains; (3) sunglass specialty stores; (4) specialty/trendy stores; and (5) optical retailers.

Hosmer has developed a comprehensive promotions strategy. It will market to retailers through advertisements in trade journals and trade show exhibitions, in addition to direct sales from representatives. Consumers will be targeted via grassroots marketing campaigns including attending and sponsoring various surfing events, biking events, and skateboard tournaments and exhibitions. The company will also advertise in the print and cable media that is most popular among the target audience. Hosmer will also continue to recruit celebrity endorsers and create strategic alliances. Dozens of professional and amateur athletes already wear the Hosmer brand. Finally, Hosmer is developing a comprehensive website that educates consumers about the Company and its products.

Management Team

The Company has not only assembled a top-notch management team but one with extremely strong marketing backgrounds. The team includes:

• Jane Smith , President, whose experience includes…
• Bob Smith , Vice President of Sales & Marketing, whose experience includes…
• Jen Smith , Sales Manager, whose experience includes…
• Mike Smith , Manager of Endorsements, whose experience includes…

Financial Plan

The average pair of Hosmer sunglasses wholesales for $55.39 and costs Hosmer approximately $15 landed (after shipping, etc.). The result is substantial gross margins of 72.9%. The Company expects sales and profitability over the next five years to be as follows:

Year 1 losses result from the substantial infrastructure (e.g., staffing, general and administrative expenses, etc.) and marketing expenditures needed to promote the Hosmer brand. The long-term increase of sales due to these efforts yield a nearly break-even Year 2, and increasing sales and net income thereafter.

Hosmer currently seeks $5 million, primarily for infrastructure, marketing, inventory, and working capital needs. The Company’s exit strategy is the most likely strategic acquisition or sales of distribution rights in the U.S. and/or other regions.

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• How to write an executive summary, with ...

How to write an executive summary, with examples

The best way to do that is with an executive summary. If you’ve never written an executive summary, this article has all you need to know to plan, write, and share them with your team.

What is an executive summary?

An executive summary is an overview of a document. The length and scope of your executive summary will differ depending on the document it’s summarizing, but in general an executive summary can be anywhere from one to two pages long. In the document, you’ll want to share all of the information your readers and important stakeholders need to know.

Imagine it this way: if your high-level stakeholders were to only read your executive summary, would they have all of the information they need to succeed? If so, your summary has done its job.

You’ll often find executive summaries of:

Business cases

Project proposals

Research documents

Environmental studies

Market surveys

Project plans

In general, there are four parts to any executive summary:

Start with the problem or need the document is solving.

Outline the recommended solution.

Explain the solution’s value.

Wrap up with a conclusion about the importance of the work.

What is an executive summary in project management?

In project management, an executive summary is a way to bring clarity to cross-functional collaborators, team leadership, and project stakeholders . Think of it like a project’s “ elevator pitch ” for team members who don’t have the time or the need to dive into all of the project’s details.

The main difference between an executive summary in project management and a more traditional executive summary in a business plan is that the former should be created at the beginning of your project—whereas the latter should be created after you’ve written your business plan. For example, to write an executive summary of an environmental study, you would compile a report on the results and findings once your study was over. But for an executive summary in project management, you want to cover what the project is aiming to achieve and why those goals matter.

The same four parts apply to an executive summary in project management:

Start with the problem or need the project is solving.  Why is this project happening? What insight, customer feedback, product plan, or other need caused it to come to life?

Outline the recommended solution, or the project’s objectives.  How is the project going to solve the problem you established in the first part? What are the project goals and objectives?

Explain the solution’s value.  Once you’ve finished your project, what will happen? How will this improve and solve the problem you established in the first part?

Wrap up with a conclusion about the importance of the work.  This is another opportunity to reiterate why the problem is important, and why the project matters. It can also be helpful to reference your audience and how your solution will solve their problem. Finally, include any relevant next steps.

If you’ve never written an executive summary before, you might be curious about where it fits into other project management elements. Here’s how executive summaries stack up:

Executive summary vs. project plan

A  project plan  is a blueprint of the key elements your project will accomplish in order to hit your project goals and objectives. Project plans will include your goals, success metrics, stakeholders and roles, budget, milestones and deliverables, timeline and schedule, and communication plan .

An executive summary is a summary of the most important information in your project plan. Think of the absolutely crucial things your management team needs to know when they land in your project, before they even have a chance to look at the project plan—that’s your executive summary.

Executive summary vs. project overview

Project overviews and executive summaries often have similar elements—they both contain a summary of important project information. However, your project overview should be directly attached to your project. There should be a direct line of sight between your project and your project overview.

While you can include your executive summary in your project depending on what type of  project management tool  you use, it may also be a stand-alone document.

Executive summary vs. project objectives

Your executive summary should contain and expand upon your  project objectives  in the second part ( Outline the recommended solution, or the project’s objectives ). In addition to including your project objectives, your executive summary should also include why achieving your project objectives will add value, as well as provide details about how you’re going to get there.

The benefits of an executive summary

You may be asking: why should I write an executive summary for my project? Isn’t the project plan enough?

Well, like we mentioned earlier, not everyone has the time or need to dive into your project and see, from a glance, what the goals are and why they matter.  Work management tools  like Asana help you capture a lot of crucial information about a project, so you and your team have clarity on who’s doing what by when. Your executive summary is designed less for team members who are actively working on the project and more for stakeholders outside of the project who want quick insight and answers about why your project matters.

An effective executive summary gives stakeholders a big-picture view of the entire project and its important points—without requiring them to dive into all the details. Then, if they want more information, they can access the project plan or navigate through tasks in your work management tool.

How to write a great executive summary, with examples

Every executive summary has four parts. In order to write a great executive summary, follow this template. Then once you’ve written your executive summary, read it again to make sure it includes all of the key information your stakeholders need to know.

1. Start with the problem or need the project is solving

At the beginning of your executive summary, start by explaining why this document (and the project it represents) matter. Take some time to outline what the problem is, including any research or customer feedback you’ve gotten . Clarify how this problem is important and relevant to your customers, and why solving it matters.

For example, let’s imagine you work for a watch manufacturing company. Your project is to devise a simpler, cheaper watch that still appeals to luxury buyers while also targeting a new bracket of customers.

Example executive summary:

In recent customer feedback sessions, 52% of customers have expressed a need for a simpler and cheaper version of our product. In surveys of customers who have chosen competitor watches, price is mentioned 87% of the time. To best serve our existing customers, and to branch into new markets, we need to develop a series of watches that we can sell at an appropriate price point for this market.

2. Outline the recommended solution, or the project’s objectives

Now that you’ve outlined the problem, explain what your solution is. Unlike an abstract or outline, you should be  prescriptive  in your solution—that is to say, you should work to convince your readers that your solution is the right one. This is less of a brainstorming section and more of a place to support your recommended solution.

Because you’re creating your executive summary at the beginning of your project, it’s ok if you don’t have all of your deliverables and milestones mapped out. But this is your chance to describe, in broad strokes, what will happen during the project. If you need help formulating a high-level overview of your project’s main deliverables and timeline, consider creating a  project roadmap  before diving into your executive summary.

Continuing our example executive summary:

Our new watch series will begin at 20% cheaper than our current cheapest option, with the potential for 40%+ cheaper options depending on material and movement. In order to offer these prices, we will do the following:

Offer watches in new materials, including potentially silicone or wood

Use high-quality quartz movement instead of in-house automatic movement

Introduce customizable band options, with a focus on choice and flexibility over traditional luxury

Note that every watch will still be rigorously quality controlled in order to maintain the same world-class speed and precision of our current offerings.

3. Explain the solution’s value

At this point, you begin to get into more details about how your solution will impact and improve upon the problem you outlined in the beginning. What, if any, results do you expect? This is the section to include any relevant financial information, project risks, or potential benefits. You should also relate this project back to your company goals or  OKRs . How does this work map to your company objectives?

With new offerings that are between 20% and 40% cheaper than our current cheapest option, we expect to be able to break into the casual watch market, while still supporting our luxury brand. That will help us hit FY22’s Objective 3: Expanding the brand. These new offerings have the potential to bring in upwards of three million dollars in profits annually, which will help us hit FY22’s Objective 1: 7 million dollars in annual profit.

Early customer feedback sessions indicate that cheaper options will not impact the value or prestige of the luxury brand, though this is a risk that should be factored in during design. In order to mitigate that risk, the product marketing team will begin working on their go-to-market strategy six months before the launch.

4. Wrap up with a conclusion about the importance of the work

Now that you’ve shared all of this important information with executive stakeholders, this final section is your chance to guide their understanding of the impact and importance of this work on the organization. What, if anything, should they take away from your executive summary?

To round out our example executive summary:

Cheaper and varied offerings not only allow us to break into a new market—it will also expand our brand in a positive way. With the attention from these new offerings, plus the anticipated demand for cheaper watches, we expect to increase market share by 2% annually. For more information, read our  go-to-market strategy  and  customer feedback documentation .

Example of an executive summary

When you put it all together, this is what your executive summary might look like:

Common mistakes people make when writing executive summaries

You’re not going to become an executive summary-writing pro overnight, and that’s ok. As you get started, use the four-part template provided in this article as a guide. Then, as you continue to hone your executive summary writing skills, here are a few common pitfalls to avoid:

Avoid using jargon

Your executive summary is a document that anyone, from project contributors to executive stakeholders, should be able to read and understand. Remember that you’re much closer to the daily work and individual tasks than your stakeholders will be, so read your executive summary once over to make sure there’s no unnecessary jargon. Where you can, explain the jargon, or skip it all together.

Remember: this isn’t a full report

Your executive summary is just that—a summary. If you find yourself getting into the details of specific tasks, due dates, and attachments, try taking a step back and asking yourself if that information really belongs in your executive summary. Some details are important—you want your summary to be actionable and engaging. But keep in mind that the wealth of information in your project will be captured in your  work management tool , not your executive summary.

Make sure the summary can stand alone

You know this project inside and out, but your stakeholders won’t. Once you’ve written your executive summary, take a second look to make sure the summary can stand on its own. Is there any context your stakeholders need in order to understand the summary? If so, weave it into your executive summary, or consider linking out to it as additional information.

Always proofread

Your executive summary is a living document, and if you miss a typo you can always go back in and fix it. But it never hurts to proofread or send to a colleague for a fresh set of eyes.

In summary: an executive summary is a must-have

Executive summaries are a great way to get everyone up to date and on the same page about your project. If you have a lot of project stakeholders who need quick insight into what the project is solving and why it matters, an executive summary is the perfect way to give them the information they need.

For more tips about how to connect high-level strategy and plans to daily execution, read our article about strategic planning .

Related resources

Unmanaged business goals don’t work. Here’s what does.

How Asana uses work management to drive product development

How Asana uses work management to streamline project intake processes

How Asana uses work management for smoother creative production

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Home Accessories and Gifts Business Plan

Start your own home accessories and gifts business plan

The Scarlet Tassel

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

One of the nation’s top interior designers, Dan Carithers of Atlanta, said, “If I had $500,000 to spend on a room, I’d spend $400,000 of it on the accessories . . . A sofa’s a sofa, a rug a rug, but accessories are how you can sense what a person is all about. They are the most important ingredient in decorating . . . It’s the accessories that create the “I’m home” feeling.” Source: Atlanta Magazine Shops Fall 2001

The Scarlet Tassel is a start-up retail store offering eclectic home accessories and gifts to consumers wanting to create a personalized home environment – that “I’m home” feeling. The Scarlet Tassel is planning to locate in the Sandy Springs/Lower Roswell area of Atlanta, Georgia catering to middle- and upper-class consumers who look beyond the national home accessory and gift chain stores for those expressions of individual personality and style. In addition to the offering of unique products, unparallel customer service, quality, value will complement the customer experience. In Year Two, The Scarlet Tassel will develop its online presence at www.thescarlettassel.com. In Year Three, The Scarlet Tassel will move to e-commerce, shipping directly to its web customers. The Web will be an extension of the store concept – a virtual business card and portfolio for the company – its online “home.”

Growth plans for The Scarlet Tassel include an expectation of quite comfortable total revenue Year One. Year Two will develop services and marketing plans, in addition to the Web presence, so that a 30% growth rate is realized. Year Three expectations of further growth with development of e-commerce and continued awareness by the consumer are set at approximately 20%. It is the feeling of both owners that these expectations are realistic and attainable.

Deirdre Staab and Shelly Dozier-Mckee, bring a combined 36 years of experience to this venture with expertise that crosses merchandising, marketing, purchasing, forecasting, operations and direct import sourcing. The Scarlet Tassel, Inc. is an S corporation. Deirdre and Shelly each have a 50% share of the business and equity investment. Additional funding is needed for asset purchases and start-up costs to make The Scarlet Tassel a reality.

1.1 Mission

Company Mission A celebration of the home, The Scarlet Tassel is a store for the quality- and style-conscious consumer. Providing unique, eclectic and affordable home accents and gifts, we intend to generate a fair return to finance continued growth and expanded community involvement.

Customer Creed The Scarlet Tassel will inform, inspire and show you, our customer, how to create an expression of yourself within your home. Through custom services, smart pricing and a sense of trust, it is our desire that you will look to us as your valued resource to achieve a personalized home environment.

Employee Pledge Our employees will enjoy a friendly, fair, and creative work environment, which respects diversity, new ideas, and hard work.

1.2 Keys to Success

The primary keys to success for the company will be based on the following factors:

• SELL products that provide quality and value to the consumer while meeting needs for an expression of personal style.
• PROVIDE custom services such as in-store workshops and personalized promotions so that customers are retained to generate repeat purchases and make referrals.
• COMMUNICATE with our customer base through print magazine advertising, postcard mailings and via our website.
• ESTABLISH a visible, accessible and welcoming storefront and website to position us as the premier choice for our products and services within the marketplace and beyond.
• ENSURE through daily management practices the values of The Scarlet Tassel’s mission are followed so that a successful and growth-oriented business is developed and maintained.

1.3 Objectives

• Maintain a direct cost of sales of 45% or less, and gross margin of 55% or greater.
• Maintain operating expenses to equal or less than that of plan.
• Generate total revenue of $626,000 in Year One.
• Develop an Internet presence in Year Two.
• Take Internet presence to e-commerce in Year Three.
• Realize an annual growth rate of approximately 30% in Year Two.
• Realize an annual growth rate of approximately 20% in Year Three.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Privately owned and operated by Deirdre Staab and Shelly Dozier-Mckee, The Scarlet Tassel is a newly established retail store offering stylish, eclectic and affordable home accessories and gifts to consumers wanting to create a personalized home environment.

Located in the Sandy Springs/Lower Roswell area of Atlanta, Georgia, The Scarlet Tassel will cater to middle- and upper-class consumers who look beyond the national chain stores for home accessories and gifts.

After having established a successful and growth-oriented business, we look to expand our business to e-commerce during our third year of operation. This additional business channel will allow us to reach a broader customer base as well as expand the level of customer service and personalized services we are able to offer the consumer.

STORE LOCATION The Scarlet Tassel will be located in the Sandy Springs/Lower Roswell area of Atlanta, Georgia. With easy access from Interstate 285, the Sandy Springs/Lower Roswell area is well known throughout greater Atlanta and attracts shoppers from many parts of the city. As a destination shopping area, consumers come here because of the diversity of business venues available.

National chains such as Target and K-Mart enhance the community that offers many local service establishments such as coffee houses, dry cleaners, restaurants, banks and unique specialty shops. The Scarlet Tassel looks to open a 3,500 square foot store located in an urban lifestyle strip mall offering high visibility and established foot traffic.

The surrounding tenants, primarily small gift, stationery and food-related stores will enhance the shopping experience of The Scarlet Tassel’s customer base. Shopping at The Scarlet Tassel will be easy and convenient due to the following factors:

• High visibility store front from the street level.
• Lighted exterior signage.
• Easy in and out driving access to the shopping complex – traffic light parallel to store location.
• Plentiful parking spots adjacent to the store.
• Lighted parking lot.

STORE OPERATION The Scarlet Tassel will be open for operation Monday-Sunday, closed major holidays. Hours of operation will be 10:00 a.m.-6:00 p.m. Monday-Saturday and 12:00 p.m.-5:00 p.m. Sunday. Hours will be extended to 7:00 p.m. during the Holidays.

The Scarlet Tassel will initially be staffed by one full time employee, working 40 hours a week and one part-time employee working 30 hours or less a week. When not traveling or attending to outside business, both owners will be on site daily and will provide additional sales and customer support assistance. Additional details on this subject are provided in the Personnel Plan section.

STORE POLICIES To most effectively service the customer, The Scarlet Tassel will accept the following forms of payment: cash; check; credit Card: Visa, Mastercard and American Express; debit card; traveler’s checks. When accompanied by a sales receipt, merchandise returns will be granted a full refund within 14 days of purchase. A store credit will be granted within 30 days of purchase with or without a sales receipt. Gift recipients can return items for exchange or store credit. Damaged and defective items can be returned for exchange or refund via original form of payment.

2.1 Company Ownership

The Scarlet Tassel is a privately-held S corporation owned by Deirdre Staab and Shelly Dozier-McKee, each with 50% ownership in the company.

2.2 Start-up Summary

Total current and long-term assets will make up 86% of start-up requirements. Start-up expenses, which are detailed in the following table, comprise the remaining 14%.

As detailed below, start-up funding will be a combination of equal investment by the two owners and a long-term commercial loan, calculated at 10.5% for six years.

Capital Equipment Listing

(Quantity, Description of Asset, Brand/Model, Total Cost)

• 1 4-Line Phone system, Panasonic KXTG4000B: $500
• 1 All-In-One Printer-Fax-Scanner-Copier, Hewlett Packard, D135: $500
• 1 Barcode Label Printer, Eltron: $575
• 1 Local Appserver, Pentium 4, 1.8 GHz, 512 RAM, 40 GB Harddrive, 10/100 NIC, 48x CDRW, 17″ Monitor, Keyboard, Mouse, Windows XP Professional, Norton System Works 2002, PCAnywhere Host & Remote 10.5, Dell Dimension 4500S: $1,329
• 2 Point-of-Sale Systems, Pentium 3, 700 MHz, 256 RAM, Windows 2000, 12″ Touchscreen, Thermal Receipt Printer, Cash Drawer, Credit Card Reader, Hand Scanner, Customer Display, Keyboard, Mouse Posiflex, JIVA PL Series: $6,790
• 3 Battery Power Backup, 3-500 VA UPS APC:  $480
• 2 Laptop Computers, Pentium 3, 1.2 GHz, 512 RAM, 30 GB Harddrive, CDRW, Double Capacity Battery, Windows XP Professional Sony, VAIO R505GC: $4,360
• 1 Digital Camera, 3.3 Megapixal Sony, Cybershot DSCS75: $500
• 1 Camera Battery, Lithium Ion Sony: $60
• 2 Camera Memory Sticks, 128 MB Sony: $120
• 1 Camera Carry Pouch LowePro: $11
• 1 Retail Management Software, POS & Inventory Management Celerant ARMS: $5,560
• 1 Accounting Software, QuickBooks Pro Quicken: $249
• 1 Credit Card Software, PCCharge Pro Go Software: $299

Total:  $21,333

Products and Services

The Scarlet Tassel identified a need to gain feedback on the product and service offerings of the concept as well as tap into the buying patterns and market awareness of women within the greater Atlanta area. To do this we conducted a Shoppers Focus Group. Held in June, 2002, the focus group was comprised of 10 women representing a diversity of backgrounds and lifestyles:

• 30-60 years of age
• Homemakers to independent business owners
• Single to married
• Living in four cities within the greater Atlanta area
• Representing several ethnic groups
• Unique and independent decorating styles

The objective of the focus group session was to gain insight into the following topics:

• Shopping experiences
• Store services
• Product concepts
• Market and competitive awareness
• The retail concept that came to be known as The Scarlet Tassel

To solicit feedback, the focus group was asked a series of questions related to shopping, shopping experiences and store services. Additional feedback was gathered through a word association game focusing on the brand identity elements of stores in the Atlanta area. Lastly the group was shown the concept boards for our business and asked to describe what it represented to them.

The ideas gathered provided us with a wealth of information that helped to formulate and define the products, services and marketing strategies outlined in this plan. This focus group was a key element in establishing a successful blueprint for The Scarlet Tassel.

PRODUCTS: The Scarlet Tassel focuses on selling quality- and value-oriented home accessories and gifts to the independent homeowner and decorating trade.

Our eclectic product mix will consist of products that allow for the successful combination of a lot of different styles – blending the old with the new, the classic with the contemporary, the wild with the tame. Products will be showcased via lifestyle merchandising that inspires a personalization of the home environment.

To support continued business expansion and growth, The Scarlet Tassel will firmly establish its product identity through a narrow and focused product assortment in Year One. In Years Two and Three, the product offer will be expanded and enhanced with new product statements and a broadening of the most profitable product categories. This approach will establish a brand identity, allowing us to tailor our offering to meet the needs of our customers.

The following list identifies the categories for Year One and beyond:

• Decorative Accessories–Tassels
• Decorative Accessories–Clocks
• Decorative Accessories–Desk/Office Accessories
• Decorative Accessories–Floral
• Decorative Accessories–Lighting
• Decorative Accessories–Candles
• Accent Furniture–Shelving
• Accent Furniture–Footstools & Benches
• Accent Furniture–Bed & Bath
• Accent Furniture–Chairs
• Wall Decor–Framed Art
• Wall Decor–Wall Grills & Plaques
• Wall Decor–Mirrors
• Home Textiles–Accent Pillows & Throws
• Special Occasion Gifts–Men’s
• Special Occasion Gifts–Personal/Girlfriend
• Special Occasion Gifts–Housewarming
• Special Occasion Gifts–Hostess
• Special Occasion Gifts–Baby
• Personal Accessories–Bath & Body
• Personal Accessories–Personal Interest Books
• Personal Accessories–Pet Interest
• Seasonal Decor–Halloween
• Seasonal Decor–Fall Harvest
• Seasonal Decor–Christmas
• Garden Decor–Planters
• Garden Decor–Fountains
• Garden Decor–Garden Gifts
• Garden Decor–Miscellaneous Gifts
• Decorative Accessories–Tabletop Accessories
• Home Textiles–Accent Rugs
• Home Textiles–Tabletop Linens
• Personal Accessories–Jewelry
• Seasonal Decor–Valentines
• Seasonal Decor–Other
• Personal Accessories–Tote Bags
• Personal Accessories–Cards & Stationery
• Garden Decor–Accent Furniture
• Garden Decor–Statuary

As an overview, each of the product categories will be represented as described below:

Decorative Accessories: Encompassing a variety of decorative elements that provide character to a home and give it a personal feel, the price-points in this category will range from $10 to $300.

• Candles and clocks
• Desk and office accessories
• Tabletop accessories
• Dried and silk floral arrangements
• Lamps including tabletop and floor lamps

Accent Furniture: Smaller, more unique furniture items used as accents with larger furniture pieces make up this product category with price-points ranging from $100 to $800.

• Occasional and accent furniture
• Footstools and benches
• Bed and bath accessories

Wall Decor: One of the fastest growing product categories in the home decorative market, our wall decor offering will encompass a unique variety of items beyond traditional framed artwork. Price-points in the category will range from $25 to $200.

• Wall grills and plaques

Home Textiles: Known as the “soft elements” in the home decorative market, our home textile offering will provide the finishing touches to a room or table setting. Price-points in this category will range from $15 to $150.

• Accent pillows
• Accent rugs
• Tabletop linens

Special Occasion Gifts: For unique gift giving occasions, our gift selection will allow our customers to purchase items that reflect their personal sentiments and feelings for the gift giving occasion and gift recipient. Price-points in this category will range from $10 to $80.

• Hostess gifts
• Men’s gifts
• Personal/girlfriend gifts
• Housewarming gifts

Personal Accessories: Our personal accessory offering will encompass items that our customers will use for themselves, enhancing their wardrobe, lifestyles and home environments. Price-points in this category will range from $10 to $60.

• Bath and body products
• Jewelry: handcrafted and unique
• Cards and stationery
• Personal interest books
• Pet interests

Seasonal Decor: Our unique offering of seasonal decor will allow our customers to decorate their homes and entertain family and friends in fun and dynamic ways. Our offering here will focus on several key holidays and range in price-point from $20 to $175.

• Giftable valentines
• Halloween decor
• Fall Harvest decor
• Christmas/New Years decor

Garden Decor: Allowing our customers to extend their living environments outdoors, our decorative garden offering will feature both decorative elements as well as functional elements. The accent pieces in this category will range in price-point from $25 to $300.

• Small accent furniture
• Garden gifts
• Miscellaneous decorative

Focusing on offering products with quality, value, style and uniqueness, The Scarlet Tassel will utilize established vendors from four home decorative product markets to preview and purchase products from: Atlanta International Gift & Home Furnishings Market, Dallas International Gift and Home Accessories Show, New York International Gift Show and High Point International Home Furnishings Market. One-of-a-kind products will be sourced through local artist and craftsmen via major antique markets and craft shows.

SERVICES: To create a point of differentiation between The Scarlet Tassel and other retailers in the area, we will offer a variety of custom, personalized services that further enhance the products offered and shopping experience of our customers. Our service offering will provide one-on-one design inspiration for the customer, will allow the customer to shop in a variety of ways, and will support a broad consumer, business and design trade client base.

Customized Giftwrap: The signature gift wrap offered by The Scarlet Tassel will be the added touch that makes the gift special. The gift wrap will reinforce the brand image of the store.

Corporate Gift Program: As a business-to-business offering, our corporate gift program will allow a business to purchase fun and unique gifts for their client or employee at a 10% discount.

Gift Certificates: Making gift giving easy for a variety of occasions, The Scarlet Tassel will offer gift certificates in a variety of denominations.

Gift Registry & Wish List: Whether for a wedding, birthday, anniversary or other special occasion, our gift registry program will allow friends, families and spouses on the hunt to purchase a gift that the gift recipient has already indicated they would like. It takes the hassle out of selecting a gift.

Realtor Gift Certificate Program: As a way to reach newcomers to Atlanta, our realtor gift program will allow realtors to purchase “welcome” gifts for their clients at a 10% discount. Not only will our exposure to the affluent realtor market enhance sales, but the opportunity to build our customer base will be greatly enhanced.

Creative Workshops: As a way to inspire and educate customers on “do-it-yourself” decorating projects, The Scarlet Tassel will offer a variety of educational workshops that will provide hands-on techniques to decorate and adorn your home. Utilizing products sold in the store, we look to enhance sales as well as make decorating easy for our customers.

“Makeover In A Day:” This unique service will provide the customer with “in-home” decorating assistance, re-creating a room or two in a customer’s house within a day, utilizing both the homeowner’s existing pieces as well as incorporating new decorative pieces from The Scarlet Tassel. Exposing our products and services to the friends and family of customers will enhance our opportunity to attain new customers. This service program will be available to customers during Year Two of operation.

ASID Discount: Offered exclusively to the design trade, an ASID discount of 20% will be extended to Interior Designers.

Preferred Customer Shopping Events: As recognition of our best customers, we will hold preferred customer shopping events allowing those customers to shop special days and hours, and receive personalized shopping assistance and special discount offers.

Newsletter: As a way to communicate with our customer base, we will publish a quarterly newsletter that highlights design trends, new product offers, gift giving ideas and decorating tips. This service program will be available to customers during Year Two of operation.

Customer Comment Card: To ensure that we are servicing our customers fully and offering the products they desire, we will provide a customer comment card where ideas and thoughts can be expressed by the customer. Comments will be reviewed on a regular basis in an effort to enhance products and services.

Personal Shopper: The entire staff of The Scarlet Tassel will possess the skillset to personally assist each customer with all of her shopping and decorating needs. As customers and sales associates establish personal relationships, The Scarlet Tassel will be able to inform the customer about new product arrivals that might interest them as well as provide decorating and gift giving tips that are aimed at the unique and individual customer.

Birthday Recognition: To recognize that important day, The Scarlet Tassel will send out birthday cards to customers while also providing them with a short-term “birthday discount” of 10%.

3.1 Fulfillment

The company has a number of sources available for their product is vast as the home decor market and industry is quite large. Management will rely on three markets for preview and purchase of products from established vendors: Atlanta International Gift & Home Furnishings Market, New York Interntional Gift Show, and High Point International Home Furnishings Market.  Unique and one-of-a-kind products will be sourced through local artists and craftmen via major antique markets and craft shows.

Market Analysis Summary how to do a market analysis for your business plan.">

Launching a new business venture during tough economic times can prove challenging, however, through extensive research and analysis the following market findings and projections support the launching of The Scarlet Tassel retail store in 2003.

While the U.S. economy and specific business sectors were hit by a stagnating economy during 3rd and 4th quarter of 2001, the “gift industry” which includes the product categories of home decorative accents, general gifts, collectibles, stationery and greeting cards, and seasonal decorations suffered only a 1% drop generating sales of $54.6 billion against 2000 sales of $55.2 billion. 

It has been reported in many industry trade publications that despite the downturn in the economy, American consumers are spending more and more of their disposable income on their home. The home decorative accents segment of the gifts industry continues to perform strongly posting a 2.2% growth over 2000 and reaching $16.9 billion in sales.

As predicted by Unity Marketing, “the future of the gifts and home accents market is positive for the next several years.” Source: Unity Marketing, The Home Report 2001: The Market, The Competitors, The Trends

Closer to home, homeowners in the Sandy Springs/Lower Roswell area of Atlanta spent $1.8 billion on home decorative products in the year 2000. We expect sales to continue to grow as home ownership grows by 8.8% and 61% of homeowners reach a level of earnings above $60,000 per year by the year 2005. Source: CACI Marketing Systems for Georgia 2000 Information Systems, The University of Georgia

The Pulse of the Industry

• “The home has become the most desired status symbol for Americans, and as such, a growing portion of the American families’ discretionary spending is budgeted for the home.” Source: Unity Marketing, The Home Report 2001: The Market, The Competitors, The Trends
• “The home market has been transformed from a largely functional to a fashion business, thus allowing consumers to dress and decorate their houses like they dress and accessorize themselves. Consumers are wanting products that reflect their tastes, values and sensibilities.” Source: Unity Marketing, The Home Report 2001: The Market, The Competitors, The Trends
• “In the past two years consumers spent more money on home furnishings than they did on clothes. Consumers are not just striving to make their homes more ‘beautiful,’ rather they are seeking decorative items that can positively impact the mood and emotional climate of their home.”  Source: Unity Marketing, The Gifts and Decorative Accessories Report 2001: The Market, The Industry, The Trends
• “As their lives become more ‘virtual’ and dependent upon computers and technology, consumers will seek out gifts and decorative products which will help ground them in the ‘real’ world.” Source: Unity Marketing, The Gifts and Decorative Accessories Report 2001: The Market, The Industry, The Trends

Shifting channels of distribution are a major trend in retailing today, with many consumers turning to e-commerce for their home needs. A business that establishes itself with multiple channels of operation will set themselves up for continued growth and success. The Scarlet Tassel plans to establish an e-commerce business segment in year 3 of operation.

The Market With More As a city with dominant growth in the southern region, the Atlanta retail marketplace continues to benefit from the South’s dominance over other regions in almost every indicator of growth and affluence.

• The South has more discretionary income dollars, leading the U.S. with 33.5%.
• The South leads in households with $75,000+ income and $100,000+ income.
• The South leads in projected growth of total personal income.
• The South leads in the number of housing starts at 39.1%.
• The South generates more retail sales than any other U.S. region in every sales category.
• The South is number one in sales of furniture and home furnishings.

Source: U.S. Department of Commerce, Bureau of Census, 2001

4.1 Market Segmentation

The Scarlet Tassel intends to target specific market segments to generate sales.

BABY BOOMERS (age 38 to 56) still have kids at home, so they need bigger houses and possessions to put in those houses. Their affluence is reaching its highest level.

GENERATION X (age 24 to 37) is thriftier than previous generations, very home-oriented, and prefers more free time to more money.

ECHO BOOMERS (including people born between 1979 and 2005 – customers who have yet to be born!) will be the most affluent young generation ever (they have access to the Baby Boomers’ money), and they grew up with technology.

Market Segment Characteristics

• Within a 5 mile radius of the Sandy Springs/Lower Roswell area of Atlanta, the population statistics (age 0-59) encompassing the market segments targeted by The Scarlet Tassel totalled 124,964 in 2000. A growth rate of 6.8% is projected through 2005.
• By market segment, The Scarlet Tassel’s customer base will be represented as follows:
• 33.0% Baby Boomers
• 41.0% Generation X
• 26.0% Echo Boomers
• Targeting primarily female shoppers, 51.6% of the market segments targeted by The Scarlet Tassel are female with a growth projection of 6.8% through 2005.
• By race, The Scarlet Tassel’s market segments will be represented as follows:
• 77.5% White
• 7.8% African American
• 6.6% Hispanic
• The total number of households in 2000 totalled 65,697 and is projected to grow by 8.8% through 2005, totaling 72,073.
• As incomes increase over the next several years, the discretionary income available to spend on home decorative and gift products will increase. In 2000, households generating in excess of $60,000 per year represented 56.8% of total household earners. By 2005 this number is projected to jump to 61.5% of total household earners.

Source: CACI Marketing Systems for Georgia 2000 Information Systems, University of Georgia

Who Is The Scarlet Tassel Customer?

• Middle to Upper Class
• Primarily Female
• 30 – 60 Years of Age
• Social, Enjoys Gatherings With Friends
• Family Oriented
• Values the Comforts of Home
• Relaxed and Approachable Lifestyle
• Quality Conscious
• Value Conscious
• Possesses Style Awareness

4.2 Service Business Analysis

The state of the industry is being determined in a positive way by consumer attitudes and changes in behavior. Following are a few observations:

• Having seen growth prior to September 11, 2001, the home decorative and gift industry is experiencing continued success as Americans begin to refocus their priorities and place more emphasis on the core values of home and family. This shift in priorities has driven many consumers to sprucing up their homes in a desire to make it more pleasing and personal.
• As consumers become more time-deprived, they are looking to shop at stores whose service offerings are as equal in quality and value as their product offerings.
• As consumers are overwhelmed with choices in their lives, they look for stores to offer them products that will enhance their lifestyle, make their lives more comfortable and provide unique and uncommon product selections beyond the mass market retailers.
• More and more consumers are seeking independent retailers that offer them the feel of home with a more personalized shopping experience.
• In many cases, retail stores are beginning to “look alike” to many consumers. The more personal and interesting the product, the better it reflects your personality. Personalization is making a huge difference. Eclectic doesn’t just mean you have a mix of styles, it means you have things that are intensely personal and can reflect one’s individual style and taste.
• In the service arena, making business easier for consumers is a winning element. Simple things like offering convenient hours, free delivery, and easy return policy will win big points in the consumer’s mind.

4.2.1 Competition and Buying Patterns

The home decorative and gift marketplace is a diverse arena encompassing many choices for the consumer. While The Scarlet Tassel recognizes that our competition in the Sandy Springs/Lower Roswell areas comes in many shapes and sizes, our in-depth analysis of each, as outlined below, has allowed us to identify our market strengths, areas of uniqueness and competitive edge. The following analysis reflects competition located within a three mile radius.

Hospitality House : Located in the Sandy Springs Plaza shopping center as well as several other locations in Atlanta, this gift and decorative accessories store has established itself as a classic and traditional resource for brass, pewter, glass, crystal and wood decorative items. A large percentage of the assortment focuses on tabletop and dining accessories such as bowls, serving utensils, ceramic tableware, vases and linens. They do not offer any decorative items within the lighting, furniture, rug, textile and garden categories. The gift offering is positioned as “special occasion” gifts appropriate for weddings, baby, anniversaries and birthdays. To address seasonal holidays, the store offers small decorative elements such as ornaments and tabletop decor for Valentines, 4th of July, Halloween, Thanksgiving and Christmas.  The overall product selection offered by Hospitality House is of high quality and represents a more formal decorating style. The clientele that shops at Hospitality House tend to be older in age. Prices range from $10 for small gift items to $350 for a more formal decorative item. Hours of operation are Monday through Saturday 9:00 a.m. to 6:00 p.m. As they are closed on Sundays, they are not taking advantage of the Sunday traffic the center draws.

What Fun : With a single location in the Sandy Springs Plaza shopping center, this highly whimsical and eclectic gift store offers playful, comical and creative gifts for all occasions, serious or fun. Within the store, items are grouped by gift giving occasion or recipient such as, “For Him,” “For Her,” “Wedding,” “Pet” or Birthday.” Products range from fur covered telephones, novelty books and hand-painted pottery to a chair shaped like a shoe, lava lamps and novelty pet dishes. The store environment is colorful, festive, playful and fun, and reinforces the store name and brand positioning. Opening price-points start at $5.00 and reach $250 on the high end.Establishing a brand position that resolves around elements of “fun,” they have gone so far as to apply this to their store hours: Monday through Saturday 9:59 a.m. to 6:01 p.m. and Sunday 12:01 p.m. to 4:59 p.m.

Store House : This national retail furniture chain store has many locations around Atlanta, with one located in the Sandy Spring Plaza shopping center. With the primary focus on large home furnishing pieces, items within the store can be described as modern, classic and contemporary, with a distinct Scandinavian or Swedish style. The store offers furniture pieces for all rooms in the home as well as a narrowed assortment of decorative accessories such as lamps, ceramics, and artwork and wall decor. As with the furniture, the decorative accessories are more contemporary and modern in style. Observations indicate that the customer that shops at this store is younger to middle age with a distinct decorating style. Pricing starts at $50 for a small decorative accessory to $1,000’s for larger furniture pieces. Interior decorating services are available for an additional fee. Store hours are Monday through Saturday from 9:00 a.m. to 6:00 p.m. and Sunday 12:00 p.m. to 6:00 p.m.

Paper Affair :  As the name indicates, the primary focus of this store is a large and diverse offering of paper products: Stationery, cards, gift-wrap, invitations and announcements. One of many locations in Atlanta, the Sandy Spring Plaza store is a bit smaller than their typical store, thus offering less depth in all the product categories they carry. Cards, invitations and announcements make up the largest percentage of the assortment and are further enhanced with custom printing services available. A small offering of personal gifts such as writing instruments, picture frames, books and bath and beauty products are also available. Holidays are addressed with a narrow offering of themed gift and paper products specific to the season. Paper Affair attracts a broad demographic audience as their paper products address many looks, styles, colors, formats and needs. Within the paper goods industry, their main competitors are stores such as Swoozies, Papyrus, Crane and Queen’s Paperie. Given the range of products offered, prices start at $1.25 for a greeting card to $40 for a picture frame. Following a company policy, all locations are open Monday through Friday 10:00 a.m. to 7:00 p.m., Saturday, 10:00 a.m. to 6:00 p.m. and Sunday 12:00 a.m. to 5:00 p.m.

The Beaded Lizard : This independent jewelry and gift store has three locations in the Atlanta area. The Sandy Springs Plaza store has opened in the last year and is smaller than its sister stores. Handcrafted and beaded jewelry make up a large percentage of the assortment with small “all occasion” gifts rounding out the offer. Many pieces are whimsical in style and inexpensive in price. Prices range from $5.00 to $70 for a more intricately designed jewelry or gift item. This store attracts a younger audience, which seemingly looks for more “stylish” pieces that do not require a large investment. Store hours are Monday through Saturday from 10:00 a.m. to 6:00 p.m. with limited Sunday hours of 1:00 p.m. to 5:00 p.m.

Ross Dress for Less : This National Discount Apparel and Accessories store is new to the Southern region and Atlanta Area. The Sandy Springs store is newly opened (September 2002) and is of significant square footage. Primarily selling adult and kids apparel, personal accessories and footwear the store does offer a selection of home decorative accessories and linens. A majority of the items are overstocks or second quality items purchased in the market from full price stores and are being sold at deep discounts. Quality levels tend to be lower because of the price-point positioning and item selections limited given the source of goods. A customer purchasing from this store will not find any decorating inspiration or decorating services available. Ross attracts a wide customer base, primarily those looking for value and discount pricing. The store is open Monday through Sunday.

K-Mart : As a national chain discount store, K-Mart has a diverse product offering that appeals to consumers looking for value pricing. Product statements range from clothing and footwear to assemble-it-yourself furniture, lamps, mass marketed decorative accessories, household linens and electronics. Because of recent bankruptcy filings and stiff competition from Wal-Mart and Target, K-Mart has lost market share.

Marshall’s : Much like Ross Dress for Less, Marshall’s is a national discount store offering clothing, footwear and home products. They too purchase overstocks and “seconds” from the after-market suppliers and offer them at heavily discounted prices. Selections are limited and shopping is a “hunt-and-peck” experience. Items are positioned on shelves by category with little merchandising criteria applied other than get as much on the selling floor as possible. The store is open Monday through Sunday.

Target : This highly recognizable multi-channel discount store offers a wide range of products and styles that appeal to a broad audience. Target has positioned itself as a source for the latest styles and trends at value pricing. Offering clothing and footwear, home decor, cleaning supplies, bath and beauty products, electronics, outdoor camping and sports equipments as well as toys, Target is a one stop shopping source. Because they focus on offering the latest trends and styles many of the gifts and home decorative products tend to be more contemporary and modern in feel. Quality is acceptable but is not recognized as being truly long lasting. Design inspiration is limited within the store and personalized services consist of a baby and wedding registry service. Store Hours are 8:00 a.m. to 10:00 p.m. Monday through Saturday and 9:00 a.m. to 7:00 p.m. on Sundays.

Lakewood Antiques Mall : With a single store located in Sandy Springs, this antiques mall supplements the Lakewood Antiques Fair that comes to Atlanta the second weekend of each month. Set up with individual booths within a larger complex, the primary focus is on antique furnishing, accessories, rugs and garden decor. Because antiques reflect a unique decorating style, this store does not have mass appeal. Pricing can range from $5.00 to many $1,000’s for larger furniture pieces. Each booth owner merchandises his or her own space so there is no pattern or style that flows throughout the store. Sales help is located at the front of the large square footage building so it is difficult to receive personalized assistance. This store is open Monday through Sunday.

The Scarlet Tassel sets itself apart from the “masses” by offering products that are unique in design and style, and are decorative in application. Our goal is to target quality-conscious homeowners who seek personal service, smart pricing, and a sense of trust in where they shop for those unique elements that express their character in their home. We want OUR HOME to be their HOME.

Web Plan Summary

In Year Two, The Scarlet Tassel plans to develop a Web presence and in Year Three, add e-commerce to its business model. The Scarlet Tassel’s website, www.scarlettassel.com and www.thescarlettassel.com, will be a secondary channel of business serving as virtual business card and portfolio for the company, as well as its online “home.”

The website will showcase the product offer available for purchase, and provide design and trend information appropriate to the home decorative market. Additional tips and inspirational ideas will focus on gifts and gift giving. To further show off its expertise, The Scarlet Tassel website will provide a resources area, offering articles, research, product information and website links of interest to its customers.

The Scarlet Tassel website will mirror the image and branding elements showcased in the store and at the same time, keep up with the latest trends in user interface design. The key to the website strategy will be combining a well designed front-end, with a back-end capable of capturing “hits” and customer data for use in future marketing endeavors.

5.1 Website Marketing Strategy

Market strategy in an Internet retail business depends on recognition of expertise by the consumer. For The Scarlet Tassel, it will start with our existing brick-and-mortar store customer base, informing them of our Internet presence and encouraging their word-of-mouth recommendations to others. Further awareness will be heightened by utilizing search engine marketing, banner advertising, and affiliates.

5.2 Development Requirements

Costs that The Scarlet Tassel will expect to incur with development of its website include:

Development Costs

• Upgrade to Celerant ARMS Internet Engine – $7,500.
• Site Design  – $3,000.
• Site Implementation  – Free. The Scarlet Tassel will utilize the programming services of Andy Staab, husband and friend. Andy Staab has 20 years of experience in software development including custom programming, data management, and Web development. His skills and services are profiled at his own website: www.programmerplus.com. The Scarlet Tassel is grateful for the significant cost savings and advice that this connection will provide.

Ongoing Costs

• Website name registration for both www.thescarlettassel.com and www.scarlettassel.com  – $70 per year.
• Site Hosting  – $30 or less per month.
• Search Engine Registration  – $200 per year.
• Site Design Changes  – Changes in the site, such as photography costs (estimated at $150-$200 per shot), are considered to be part of Marketing and Advertising.

Strategy and Implementation Summary

6.1 competitive edge.

The Scarlet Tassel looks to establish itself competitively as a unique retail environment through its product offering, the scope and level of services it provides, and the expertise of its employees.

PRODUCTS : Sourced through established manufacturers via international trade shows and one-of-a-kind specialty craft fairs, the products offered by The Scarlet Tassel will provide a high level of quality and value to the consumer. The range of products will be unique, with little crossover to other retailers within the Atlanta marketplace.

SERVICES : Connecting with the customer is a key focus for The Scarlet Tassel. Through personalized design services, educational decorating workshops, gift registry, realtor programs, ASID discounts, gift certificates, gift wrap and preferred customer recognition programs, The Scarlet Tassel will provide a level of personalization not commonly found in today’s hectic, mass market. It is our desire that customers look to us as their valued resource to achieve a personalized home environment.

EMPLOYEES : Employees of The Scarlet Tassel will enjoy a friendly, fair and creative work environment, which respects diversity, new ideas and hard work. Development through experience and training will be a primary focus. It is our desire that employees are long-term ensuring an expertise that will support the customer experience.

6.2 Marketing Strategy

In addition to price and item promotional announcements, The Scarlet Tassel will focus its marketing efforts via several key direct-to-consumer advertising vehicles:

Local and Regional Magazine Publications : Each of these advertising vehicles provides a demographic base that lines up nicely with that of The Scarlet Tassel.

Direct Mail Postcards : The Scarlet Tassel will look to increase consumer awareness, retain the existing customer base and promote increased sales via seasonal postcard mailings. These mailings will be targeted around special events and are intended to liquidate slow moving products or showcase vendor negotiated specials.

• Spring Open House–15% to 20% savings opportunity.
• Fall Open House–15% to 20% savings opportunity.
• Holiday Open House–15% to 20% savings opportunity.
• Annual Anniversary Postcard–promotes in-store design seminars, special events and savings opportunities.

Website Marketing : As we establish our e-commerce business segment during Year Three of operation, we will support the business via search engine marketing, banner advertising, URL links and e-mail marketing on all correspondence. This third channel of business will increase the customer base, sales potential and service opportunities provided by The Scarlet Tassel.

6.2.1 Promotion Strategy

The Scarlet Tassel will leverage its expertise, product offerings and marketing strategy to increase its customer base while driving sales and profit. The following sections review the various strategies that will support this effort.

6.3 Sales Strategy

THE CUSTOMER The Scarlet Tassel will approach sales from a salesperson-customer relationship basis. All sales associates will be trained and encouraged to assist customers in a personal manner, utilizing first names and asking the questions needed to provide the customers with the services they desire. Gathering key customer information and seeking performance feedback on the products and services offered will assist us in the following ways:

• Targeting our marketing efforts more effectively.
• Developing product offers and merchandising formats that will increase sales.
• Developing services that enhance the shopping experience.
• Training and developing sales associates in order to effectively service the customer.
• Increase awareness of The Scarlet Tassel within the retail consumer marketplace.
• Develop future sales opportunities that allow for continued growth of the business.

THE PRODUCT In order to provide the customer with the most up-to-date home decorative and gift products on the market, we will attend international tradeshows which showcase all of the products manufactured within this category of business. Attending market will not only allow us to ensure our product offer is current and up-to-date but will provide us with fresh, new store merchandising and display ideas.

To stay abreast of market and product trends, we will utilize the following trade publications to reinforce and expand our knowledge base:

• Giftware News
• Home Accents Today
• Home Decor Buyer
• Residential Lighting
• Accessory Merchandising
• Gifts and Decorative Accessories
• Greetings etc.

MERCHANDISING Products will be showcased via lifestyle merchandising that inspires and promotes multiple purchases. We look to create a strong visual impact creating an invitation to touch and purchase.

PRICING It is the goal of The Scarlet Tassel to offer style and quality at a value to the consumer. Our pricing structure will support a 55% gross margin and position us competitively within the marketplace. Seasonal promotional offers and annual anniversary sale events will encourage additional sales and multiple unit purchases.

OUR EMPLOYEES Employees of The Scarlet Tassel are an integral part of the shopping experience for the customer. All employees will be developed for growth and advancement, and compensated fairly with effective training that will enable them to confidently service the customer.

TECHNOLOGY As we enter the 21st century, proper technology is becoming key to meeting the customer’s expectations. The Scarlet Tassel has chosen Celerant Advanced Retail Management System (Celerant ARMS) as its retail management software. After careful consideration of Retail Pro and other well-known retail software programs, Celerant ARMS was chosen for its advanced real-time capabilities. Company-wide real-time data access in lieu of nightly polling or other end-of-day processes is a feature not offered by most software in this price point. With an eye towards the future, real-time will greatly enhance the experience of The Scarlet Tassel’s customer, especially in an Internet or multi-store environment, without an expensive software change.

Additional features include:

6.3.1 Sales Forecast

The Sales Forecast, as detailed in the table and charts following, is based on The Scarlet Tassel’s planned retail space of 3,500 square feet and the average $ sales per square foot expected. All revenues in the forecast are from direct retail sales and do not include any miscellaneous income. Monthly sales, as noted in the Appendix, have been adjusted to reflect the “valleys” that the retail business is noted for. Dips in sales are expected, in particular, for the months of January, February, and March.

Quarterly sales are expected to be driven by each major category as follows, and will be enhanced with sales supporting seasonal holidays or gift giving occasions as noted below:

1st Quarter Holiday Clearance, Valentines Day, Easter

70% – Decorative Accessories 3% – Accent Furniture 6% – Wall Decor 2% – Home Textiles 7% – Special Occasion Gifts 5% – Personal Accessories 3% – Seasonal Decor 4% – Garden Decor

2nd Quarter Mother’s Day, Father’s Day, Memorial Day, 4th of July

70% – Decorative Accessories 3% – Accent Furniture 5% – Wall Decor 2% – Home Textiles 8% – Special Occasion Gifts 5% – Personal Accessories 3% – Seasonal Decor 4% – Garden Decor

3rd Quarter Labor Day

70% – Decorative Accessories 4% – Accent Furniture 6% – Wall Decor 2% – Home Textiles 8% – Special Occasion Gifts 5% – Personal Accessories 2% – Seasonal Decor 3% – Garden Decor

4th Quarter Halloween, Thanksgiving, Christmas, New Year’s

70% – Decorative Accessories 4% – Accent Furniture 4% – Wall Decor 3% – Home Textiles 8% – Special Occasion Gifts 5% – Personal Accessories 4% – Seasonal Decor 2% – Garden Decor

Growth rates for Years One through Three are planned as follows:

• 2003 to 2004 (Year One) – $179 per square foot
• 2004 to 2005 (Year Two) – $237 per square foot; 32.40% growth
• 2005 to 2006 (Year Three) – $284 per square foot; 19.83%% growth

With the industry average estimated at $300 per square foot, growth planned is attainable. In spite of the economic unpredictability we are experiencing, these projections are supported by the continued strength in the Atlanta home decor market. Source: Home Accents Today, Spring 2002

6.4 Milestones

The following table lists important milestones, with dates and persons primarily responsible for planning, as well as budgets where applicable. Mentioned by first name in the table are a few persons whose expertise in their field of work are required to make The Scarlet Tassel a reality. They include:

• Bob Levine – Real Estate Agent, Coldwell Banker Commercial
• Jeff Burkholder – Graphic Artist, Burkholder Designs
• Victor Moldovan, ASID – Store Planner & Designer, Moldovan Interior Design
• Barry Brouner, CPA – Accounting & Tax Consulting
• Steve Anderson – Attorney, Anderson & Dailey

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

The Scarlet Tassel has a very strong, experienced and professional management team in co-owners Deirdre Staab and Shelly Dozier-Mckee, with 36 years of combined experience. Each brings to the business their own area of expertise leaving few gaps of knowledge.

Shelly Dozier-Mckee, Co-Owner/Manager – Merchandising & Marketing Shelly has spent 17 years in the retail and catalog industry, with direct experience in men’s and women’s apparel, footwear, personal accessories, gifts and home decor. She spent 10 years with a large-scale industry-leading international retail and catalog company in the Seattle area. Her extensive background has included positions such as buyer, senior buyer, director of merchandising and general merchandise manager. She has been responsible for strategic planning and business management for business segments generating in excess of $400 million annually, including new business development and implementation. Additionally, Shelly has five years of off-shore sourcing and product development experience. Having spent extensive time in the home decorative marketplace, she is very familiar with the product lines, vendor base and business elements utilized within the home decorative industry. Shelly has a Bachelor of Arts degree from Washington State University, is married, 40 years old and a homeowner in the Smyrna, Georgia area.

Deirdre Staab, Co-Owner/Manager – Operations & Finance Deirdre is a 19 year veteran of the catalog industry, with direct experience in footwear, personal accessories, gifts and home decor. Her background has included positions such as buyer, purchasing manager, operations manager and senior manager of purchasing & operations. Deirdre’s experience has crossed many diverse areas of responsibility including corporate strategic planning, policy and procedural development, merchandising, purchasing, forecasting, vendor management and compliance, third party warehouse and call center operations, transportation and managing software development in a proprietary system environment. Deirdre’s recognized expertise in inventory management and forecasting has afforded her the honor of being selected as a session panelist at both the 2001 National Conference for Operations & Fulfillment and also at the 2000 Direct Marketing Association’s 17th Annual Catalog Conference & Exhibition. Deirdre has a Bachelor of Science degree from the University of North Carolina at Greensboro, is married, 41 years old and a homeowner in the Smyrna, Georgia area.

Decision-making will be divided as follows:

Shelly Dozier-McKee Merchandising & Store Planning Marketing & Advertising Workshop Development & Instruction Web Development: Front End

Deirdre Staab Purchasing & Numerical Analysis Operations & Accounting Software & Computer Systems Web Development: Back End

Shared Hiring, Employee Development & Policies Customer Services & Policies

7.1 Personnel Plan

The Scarlet Tassel store hours are planned Monday through Saturday, 10:00 a.m. to 6:00 p.m. and Sunday, 12:00 p.m. to 5:00 p.m.. The Scarlet Tassel will not be open in the evenings unless a workshop or other customer event is taking place. The Personnel Plan, as detailed in the table following, has been developed to support these store hours and expected volumes as per the Sales Forecast section.

Assumptions regarding personnel have been made for Year One through Year Three as follows:

• Year One Ending March, 2004 – Owners, Deirdre Staab and Shelly Dozier-Mckee, will not take a salary the first three months – April, May and June 2003. Starting in July, their salaries will begin to increase incrementally, every two months, until the planned annual salary is reached by January of 2004. One full-time employee and one permanent part-time employee will be hired to start work the first week of April 2003. One temporary part-time employee will be hired to work through the Holiday season – October, November and December 2003. It should be noted that the full-time employee hired is expected to have retail management experience or have enough experience to be considered promotable to assistant manager or manager within a few years, hence, the higher starting salary. The support of a trusted and experienced employee will be needed to enable Deirdre and Shelly to be away from the store when necessary to shop the markets for product. As well, the ability to promote from within supports The Scarlet Tassel’s pledge to its employees. The permanent part-time employee will be hired at the Atlanta average of $10.00 per hour and the temporary part-time employee will be hired at $9.00 per hour. Atlanta Average Source: Atlanta Magazine, Salaries Survey 2002
• Year Two Ending March, 2005 – Salaries for Deirdre and Shelly will increase beginning in July 2004. Current full-time and part-time employees will be provided salary reviews and given appropriate salary increases – 4% has been factored in. A second permanent part-time employee will be hired in July 2004 at the Atlanta average for retail of $10.00 per hour. Atlanta Average Source: Atlanta Magazine, Salaries Survey 2002
• Year Three Ending March, 2006 – Salaries for Deirdre and Shelly will be maintained at their current level. Current full-time and part-time employees will be provided salary reviews and given appropriate salary increases – 4% has been factored in. A second full-time employee will be hired in April 2005, and a temporary part-time employee will be hired for the Holiday season, if needed.

Financial Plan investor-ready personnel plan .">

The Scarlet Tassel’s financial plan makes some critical assumptions that will determine the potential for future success.

• The Economy . This could not be a better time to start a business as the economy reaches its lowest point of the business cycle and begins its trek back up. Consumer spending is up. “The Commerce Department reported consumers had increased their spending by 1% in July, the largest advance in nine months.” Source: The Wall Street Journal, “In Uneasy Times, Consumers Boost a Fragile U.S. Economy”, September 3, 2002
• Owner Experience . A shorter learning curve will be brought to the business by Deirdre and Shelly due to their extensive backgrounds and in-depth market knowledge.
• Managed Costs . A clear understanding of the need to manage costs and forecast future needs so that the business is not “broad-sided” by the unexpected.
• Wise Purchases . Finding the right product, at the right price will enable the business to meet planned margins and maintain inventory at an attractive level with a high turn rate.

8.1 Projected Profit and Loss

The projected Profit and Loss for three years is detailed in the table and charts following. Monthly projected Profit and Loss for Year One is available in the Appendix. Some assumptions and inclusions to be noted are:

• Accounting and Legal includes: CPA, attorney and payroll service costs.
• Insurance includes: Business property, liability and interruption and key person life insurance. Health Insurance as an employee benefit will be considered in Year Three and is reflected as such.
• Miscellaneous includes: Bank account fees, employment advertising, software maintenance, Web hosting, annual Internet name registration, software upgrades, annual search engine registration when applicable, off-site data backup, and other.
• Merchant Fees assume 80% of total revenue is in credit card sales and are calculated at 2.5%.
• Outbound Freight increases Year Two due to improved RTV procedures. Additional increases in Year Three are expected due to the development of the Web and the outbound shipping that will result from an e-commerce business.
• Rent assumes 3,500 square feet of retail space is charged at fixed per square cost foot plus taxes, maintenance and insurance.
• Payroll taxes and workman’s compensation were calculated at 12% of payroll.
• A 3% inflation factor was applied to select operation expenses for Years Two and Three.
• Marketing and advertising has been maintained for all three years at approximately 4.5% to 6.5% of total revenue.
• Travel costs were increased by 20% in Years Two and Three based on the assumption that the state of the airline and hotel industries will recover from the current economic trends and react with increased rates and as well, to allow for an additional employee to travel if needed.

8.2 Break-even Analysis

The Break-even Analysis in the table and chart following illustrate the number of units and retail sales that The Scarlet Tassel must make to break-even each month. 

8.3 Projected Cash Flow

The projected Cash Flow for three years is detailed in the table and chart following. Monthly projected Cash Flow for Year One is available for review in the Appendix.

It should be noted that The Scarlet Tassel expects to operate on a cash basis with vendors the first year, hence, no Accounts Payable for the first year. As credit is established with vendors, it is assumed that in the second year 40% to 50% of monies owed to vendors will be reflected in Accounts Payable. It is further assumed that in the third year 70% to 80% of monies owed to vendors will appear in Accounts Payable.

8.4 Pro Forma Balance Sheet

The projected Balance Sheet for three years is detailed in the table following. Monthly projections for the first year Balance Sheet are available for review in the Appendix. Planned numbers show that liabilities are expected to decrease approximately 40% by the end of Year Three, increasing owner’s equity and net worth.

8.5 Business Ratios

The following table outlines some of the more important ratios from the {xxxxxxx} industry. The final column, Industry Profile, details specific ratios based on the industry as it is classified by the Standard Industry Classification (SIC) code, xxxx.

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How to Write an Executive Summary for a Business Plan

When you’re starting a business, one of the most important documents you’ll need to create is a business plan. A well-written business plan can help you secure funding from investors, convince suppliers to do business with you, and give you a roadmap for how your business will grow.

Wondering how to develop a good business plan ? In addition to all of the usual sections–like your company overview, products and services, market analysis, and financial projections–you also need to write an executive summary. The executive summary will decide whether potential investors will read the next sections of your business plan, which is why it’s the most crucial part of your proposal. 

In this article, we’ll discuss what an executive summary is, tips for writing a good one, and the mistakes you should avoid at all costs. 

What Is an Executive Summary, and Why Do You Need One?

An executive summary is a brief, yet comprehensive overview of your business plan. It should touch on all of the key points of your business, and then convince the reader to keep reading.

You can think of it as a preview of what’s to come, written in a concise, easy-to-understand format that describes your company goals, objectives, and projected financial impact. Although all sections of your business plan are important, the executive summary is critical because investors will base their decision on whether or not to read the rest of your proposal on how well you write it.

What’s more, if you’re writing for potential investors, they might even turn down a well-written business plan that doesn’t include an executive summary, which is why it might be a good idea to invest in a dedicated freelance business plan writer .

How to Write an Executive Summary for Your Business Plan

Now that you know why an executive summary is important, it’s time to learn how to write one–but before you set out to write an executive summary, make sure you’re clear about what a business plan is and why it’s important . 

With that being said, here are a few tips to help you write your summary: 

1. Start With a Bang

When readers see the first sentence of your executive summary, they should be hooked immediately. This means that you need to start with a strong opening that will grab their attention and keep them reading.

2. Explain Your Business in Detail

Your executive summary should provide a detailed overview of your entire business plan, including its core ideas and projected financial impact. This means that you need to describe all aspects of your company in enough detail so that readers can easily understand what it is and how it will succeed.

3. Back Up Your Claims With Data

When you’re writing an executive summary, it’s important to back up all of your claims with relevant data and statistics. This can include things like market research or financial projections, which will help illustrate the potential value of your business.

4. Use Persuasive Language

An executive summary is not the time to be shy–you need to use persuasive language that will convince readers to invest in your business. This means using strong verbs and making bold statements about your company’s potential.

5. Keep It Short and Sweet

Although you want to include all of the important details about your business in your executive summary, you also need to keep it concise. Aim for no more than two or three pages, and use clear, direct language.

6. Include a Call to Action

Your executive summary should end with a strong call to action that encourages readers to learn more about your business. This can be something as simple as inviting them to read the next sections of your business plan, or a suggestion to get in touch with you for more information.

What Are the Mistakes to Avoid When Writing an Executive Summary?

Just as there are steps you can take to write a strong executive summary, there are also mistakes that you should avoid at all costs. Here are a few things to keep in mind:

• Don’t be vague or overly general . Your executive summary should be detailed and specific, not just a vague overview of your business.
• Don’t include anything that isn’t relevant to your goals as a company . An executive summary is meant to highlight the most important aspects of your business, so save the details for later sections.
• Don’t be afraid to make bold claims . When you’re writing an executive summary, it’s okay to be confident and assertive in your language. Just remember to back up your statements with data and statistics.
• Don’t forget to proofread . Once you’ve finished writing your executive summary, be sure to proofread it carefully for any errors or typos. This is not the time to skimp on quality and may be another reason to hire a professional business plan writer.

How to Develop a Business Plan

What Is a Business Plan, and Why Is It Important?

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Economic conditions outlook, March 2024

Executives’ latest views on the global economy and their countries’ economies lean much more positive than they did at the end of 2023.

In the latest McKinsey Global Survey on economic conditions, 1 The online survey was in the field from March 4 to March 8, 2024, and garnered responses from 957 participants representing the full range of regions, industries, company sizes, functional specialties, and tenures. To adjust for differences in response rates, the data are weighted by the contribution of each respondent’s nation to global GDP. the outlook on domestic conditions in most regions has become more hopeful, despite ongoing shared concerns about geopolitical instability and conflicts. In a year brimming with national elections, 2 Katharina Buchholz, “2024: The super election year,” Statista, January 19, 2024. respondents increasingly see transitions of political leadership as a primary hazard to the global economy, particularly in Asia–Pacific, Europe, and North America.

Furthermore, respondents now view policy and regulatory changes as a top threat to their companies’ performance, and they offer more muted optimism than in December about their companies’ prospects.

Optimism builds over global and domestic conditions

Respondents share much brighter assessments of the global economy and conditions in their countries than they did at the end of 2023, and views of the global economy are the most positive they’ve been since March 2022 (Exhibit 1). In the December survey, respondents were equally likely to say the global economy had improved and worsened. Today, respondents are twice as likely to report improving rather than deteriorating conditions. Looking ahead to the next six months, respondents are also more optimistic than they were last quarter. Forty-six percent expect the global economy to improve—nearly double the share expecting worsening conditions—while 37 percent expected improvement in the previous survey.

Likewise, respondents offer hopeful views when asked about the most likely near-term scenario for the global economy, suggesting confidence in central banks. They are more likely to expect a soft landing overall—with either slowing or accelerating growth compared with 2023—than a recession (Exhibit 2). The largest share of respondents expect a soft landing, with slowing growth relative to 2023.

Respondents’ views on their own economies have also become more upbeat. Nearly half of respondents say economic conditions at home are better now than they were six months ago, up from 41 percent in December, while just 22 percent say conditions have gotten worse. Respondents in Europe—who offered the most negative assessments of any respondents in September and December—are now nearly twice as likely as in December to say conditions have improved in the past six months, though it is unclear what has prompted that change and whether it is a durable finding.

McKinsey’s original survey research

More than half of respondents expect their economies to improve over the next six months. It’s the first time in two years that a majority of respondents have said that. In most regions, larger shares of respondents express optimism about economic conditions at home now than in December (Exhibit 3).

Geopolitical instability remains top of mind as concerns over political transitions rise

Geopolitical instability and conflict continues to be the most cited risk to global growth, selected by two-thirds of respondents for the second quarter in a row (Exhibit 4). Yet in this first quarterly survey of 2024—a year in which more than 60 countries will hold national elections 3 Katharina Buchholz, “2024: The super election year,” Statista, January 19, 2024. —transitions of political leadership have jumped from the fifth-most-cited to the second-most-cited threat to the world economy. The share of respondents in Europe reporting political transitions as a top threat is 2.4 times the share in December, while the shares in North America and Asia–Pacific have nearly doubled. 4 Prior to the latest survey, respondents in Mexico were included in Latin America in analyses but are now included in North America. We see a smaller uptick in concern about supply chain disruptions, which is cited as a threat by the largest share of respondents since December 2022.

Looking at risks to growth in respondents’ countries, geopolitical instability and conflict remains the top perceived threat, cited by a larger share than in any quarter since March 2022. Uneasiness about domestic political conflicts and transitions of political leadership, now the second- and third-most-cited risks, have overtaken concerns about inflation, which was the second-most-cited risk in December. Among respondents in North America, transitions of political leadership are cited nearly twice as often as in December (Exhibit 5). In Greater China, multiple risks now appear to carry equal weight, whereas in December, inflation was the top concern.

Policy and regulatory changes top the list of cited threats to companies’ growth

As respondents’ concerns about inflation as a domestic threat wane, the survey results suggest that companies are holding off on price increases. For the first time since we began asking about companies’ prices in September 2022, less than half of private-sector respondents in the latest survey—45 percent—say their companies increased the price of their goods or services over the past six months, down from 56 percent in December.

For five quarters, respondents’ most cited risk to their companies’ performance in the next 12 months was weak customer demand. Now, they most often point to policy and regulatory changes as a threat. In December 2023, policy and regulatory changes weren’t even one of the top five perceived risks. This increased wariness of policy changes cuts across most regions, though we see the largest increase in Europe.

Even though weak demand is no longer the most cited risk for companies, optimism over expected demand has tapered  since December. Fifty-one percent of respondents expect an increase in customer demand over the next six months, down from 57 percent in December. Yet expectations about profits remain upbeat: about six in ten respondents expect increasing profits in the months ahead, in line with expectations in much of 2023.

The survey content and analysis were developed by Jeffrey Condon , a senior knowledge expert in McKinsey’s Atlanta office; Krzysztof Kwiatkowski , a capabilities and insights expert in the Boston office; and Sven Smit , chair of insights and ecosystems, chair of the McKinsey Global Institute, and a senior partner in the Amsterdam office.

They wish to thank Jan Mischke for his contributions to this work.

This article was edited by Heather Hanselman, a senior editor in the Atlanta office.

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