How To Write an Executive Summary
The executive summary goes near the beginning of the business plan but is written last. To include a summary of the different parts of your business plan, you’ll need to write them first. When you write the executive summary, keep it under two pages. The executive summary should contain brief summaries of other sections of the plan. The idea is to give a brief overview of your business first before going into detail about each of the different parts.
What To Include in an Executive Summary
The executive summary should contain all of the important information about your business, such as:
Business nameBusiness locationYour mission as a companyA history of the companyManagement and advisorsServices or products offeredThe market for your offeringsYour business’s competitive advantagesYour financial projectionsStartup financing required, if any
Executive Summary Example
It’s always easier to write something if you can read an example first, so here’s an executive summary example that you can use as a model for your own business plan’s executive summary. This executive summary is for a fictional company called Pet Grandma Inc.
Mission
Pet Grandma Inc. offers superior on-site pet sitting and exercising services for dogs and cats, providing the personal loving pet care that the owners themselves would provide if they were home. Our team will ensure that pet owners can take business trips or vacations knowing that their pets are in good hands.
Company and Management
Pet Grandma Inc. is headquartered in the City of West Vancouver and incorporated in the Province of British Columbia. The company is owned by partners Pat Simpson and Terry Estelle. Pat has extensive experience in animal care while Terry has worked in sales and marketing for 15 years. The management of Pet Grandma Inc. consists of co-owners Pat Simpson and Terry Estelle. Both partners will be taking hands-on management roles in the company. In addition, we have assembled a board of advisors to provide management expertise. The advisors are:
Services
Our clients are dog owners and cat owners who choose to leave their pets at home when they travel, or who want their pets to have company when their owners are at work. Pet Grandma Inc. offers a variety of pet care services, all in the pet’s home environment, including:
Dog walkingDaily visits24-hour care for days or weeksAdministration of medications by qualified staffEmergency treatment in case of illness (arranged through veterinarians)Plant wateringMail collectionGarbage/recycling
The Market
Across Canada, the pet care business has seen an explosion of growth over the last three years. West Vancouver is an affluent area with a high pet density. Our market research has shown that nine out of 10 pet owners polled in West Vancouver would prefer to have their pets cared for in their own homes when they travel rather than be kenneled and six out of 10 would consider having a pet sitter provide company for their dog when they were at work.
Competitive Advantages
While there are currently eight businesses offering pet sitting in West Vancouver, only three of these offer on-site pet care and none offers “pet visit” services for working pet owners. Pet Grandma’s marketing strategy is to emphasize the quality of pet care we provide (“a Grandma for your pet!”) and the availability of our services. Dog owners who work, for instance, will come home to find happy, friendly companions who have already been exercised and walked, instead of demanding, whiny animals. All pet services will be provided by animal care-certified staff. All employees are insured and bonded.
Financial Projections
Based on the size of our market and our defined market area, our sales projections for the first year are $340,000. We project a growth rate of 10% per year for the first three years. The salary for each of the co-owners will be $40,000. At startup, we will have six trained staff to provide pet services and expect to hire four more this year once financing is secured. To begin with, co-owner Pat Simpson will be scheduling appointments and coordinating services, but we plan to hire a full-time receptionist this year as well. Already we have service commitments from more than 40 clients and plan to aggressively build our client base through newspaper, website, social media, and direct mail advertising. The loving, on-site professional care that Pet Grandma Inc. will provide is sure to appeal to cat and dog owners throughout the West Vancouver area.
Startup Financing Requirements
We are seeking an operating line of $150,000 to finance our first-year growth. Together, the co-owners have invested $62,000 to meet working capital requirements.
