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How to Write a Standout Company Description for Your Business Plan

By Tyler Sousa Reviewed By Mike Lucas
By Tyler Sousa
By Tyler Sousa Reviewed By Mike Lucas

A woman works on her business plan. We have some tips for writing a compelling business description.

Your business description in a business plan is an overview of what your business does and why, how it successfully meets its customers’ needs, along with its values and goals for growth.

A company description should demonstrate to its readers—customers, employees and potential lenders and investors—that they’re working with a business that knows it’s the best at what it does and can explain why it’s successful.

Let’s go through the elements of a company description, how to write a business description for a business plan and check out company description examples to help you craft an effective business description of your own.

Images of pie charts and graphs surround 2 businessmen sitting side-by-side, working on their respective laptops.

How to Nail the Perfect Business Description for a Business Plan

Think of this part of your business plan as an elevator pitch; it says the most about what a customer should expect from your business.

When writing your company description in a business plan,  it’s important to be succinct yet thorough.

Include the following:

  • Your business’s name
  • Names of your business’s founder(s) and current leadership
  • Your business’s location
  • Your business’s legal structure
  • What products or services your business offers
  • Who your target audience is
  • How your business satisfies customer needs
  • Your company’s mission
  • How your business differs from its competition
  • Your business’s goals

Company Description Example

Your  description in a business plan should highlight what makes your business different from your competition and how your customers can share that experience. Review these business description sample statements for inspiration in writing your own unique description.

Whether you’re a java junkie or an herbal tea aficionado, Bean Feast offers a satisfying cafe experience for the good people of Chicago and the surrounding region. Co-founded in 2015 by best friends and entrepreneurs, co-owners Faye Dunway and Rita Harewirth, Bean Feast LLC has grown from a single coffee shop in Chicago, Illinois, a full-service cafe with 3 additional locations in Chesterton, Woodstock and Fort Atkinson, Wisconsin. 

Selling ethically grown and sourced coffee, specialty espresso drinks and delicious baked goods including cookies, cupcakes and breads, the Bean Feast owners and staff pride themselves on fulfilling their mission to provide quality drinks and food in an atmosphere that welcomes a diverse customer base.

While some shops like to amplify their “cool and exclusive” creds, we believe that no matter who you are or where you are in life, there’s a place for you at Bean Feast.  

Current annual revenue is $645,000, and with a menu expansion and marketing campaign, it’s expected to grow to $720,000 by the end of this fiscal year.

Now let’s break down the company description to demonstrate how it meets the requirements for an effective business description for your business plan.

Name: Bean Feast

Company Structure: LLC

Owners: Faye Dunway and Rita Harewirth

Locations: Chicago, Illinois, a full-service cafe with 3 additional locations in Chesterton, Woodstock and Fort Atkinson, Wisconsin

Mission: Bean Feast owners and staff pride themselves on fulfilling their mission to provide quality drinks and food in an atmosphere that welcomes a diverse customer base.

Why the business stands apart from competitors: While some shops like to amplify their “cool and exclusive” creds, we believe that no matter who you are or where you are in life, there’s a place for you at Bean Feast.

Goals for future growth: [W]ith a menu expansion and marketing campaign, it’s expected to grow to $720,000 by the end of this fiscal year.

Aim to highlight what makes your business different from your competition and how your customers can share that experience.

Business Description Templates

If you need additional guidance regarding how to write a business description in a business plan, working with a business description template could help you through the process.

The following resources on the web offer downloadable documents to help you frame your company description:

Tyler Sousa
Tyler Sousa Contributing Writer at Fast Capital 360
Tyler Sousa is a content writer who specializes in business and finance writing. Born and raised in Central New Jersey, his journalism background and personable writing style make him a detail-oriented author as well as a great storyteller.
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