Why Is It a Business? What Need Does It Solve?

You must clearly explain how your product meets a consumer need. To do that, you must identify your target customers and explain how your product or service will meet their needs. Who are you targeting? Consumers? Retailers? Wholesalers? The government? Is your product practical? Will it fill a need? What need?

You also need to identify where or how you will be acquiring your product. Who are your suppliers? And who are your backup suppliers if your primary ones fail to deliver? If you are manufacturing your own product, who is supplying your parts?

Finally, where will your business be located? What physical location will be necessary? Office space? Retail space? Warehouse space? Will there be a combination of some sort? Are you starting a home-based business? If so, do you have space in your home? Where will you locate it? What about your community's CC&Rs? Are there conditions and restrictions on what you can use your home for? Will they allow for a home business such as yours?