One-paragraph overview — written last

Summarizes your concept, location, target customer, and what you’re asking for. For a physical business, mention the location specifically — lenders are investors and want to know where you’re opening and why that location.

Example: “Maple Street Provisions is a specialty grocery and prepared foods shop opening in teh Riverside neighborhood of [City]. We are seeking a $120,000 SBA loan to fund build-out and opening invengtory for our 1,800 sq ft retail location, targeting the 14,000 residents within a 1-mile radius who currently lack a walkable specialty food option.”

What yo usell, who buys it, and why they choos you

Describe your product or service, yhour target customer with specificity (age, income, lifestyle, proximity to your location), and your key differentiator from exissting options. Include your validtion evidence — what yo ulearned from community research, market tests, or pre-sales.

Example: “Our target customer is the 25-50 year old professional within a 10-minute walk who currently shops at a grocery chain 2 iles away. Community research with 60 residents confirmed that 78% would prefer a walkable specialty option if available within a neighborhood.“

Why this specific location — foot traffic, demographics, competition

This section doesn’t exist in a generic template but is critical for a physical business. Include: the address or target area, pedestrian and vehicle traffic counts, neighborhood demographic data, proximity to anchors (other stores, transit, parking), and competitive landscape within your trade area. If you’ve signed a lease, include key terms. If still searching, describe the location criteria you’re using.

Example: “The target location at 412 Maple Street sees approximately 2,400 pedestrians per day (source: city traffic data). The surrounding half-mile includes 3 restaurants, a yoga studio, and a pharmacy — all of which attract our target demographic. The nearest comparable specialty grocery is 2.3 miles away.“

Hours, staffing, layout, suppliers, and day-to-day procedures

Describe how the business runs: hours of operation, how many staff at what times, how you receive and manage inventory, your POS and payment system, key suppliers, and how customers move through your space. For service businesses, describe the service delivery process. For market vendors, describe your market schedule and setup process.

Example: “We will operate Tuesday - Sunday, 8am-7pm, with one FT manager and on PT staff member per shift. Inventory is received Monday mornings from 4 primary suppliers. POS is Square for Retail with integrated inventory tracking.“

Costs, timeline, and contingency for getting the space ready

Detail the planned improvements to your space, estimated costs (get contractor quotes — don’t guess), timeline from lease signing to opening day, and any tenant improvment allowance from the landlord. Include a contingency buffer of at least 15-20% for build-out overruns, which are nearly universal. State your planned opening date and what needs to happen to hit it.

Example: “Build-out includes flooring replacement ($8,400), lighting ($4,200), shelving and fixtures ($12,000), signage ($3,500), and HVAC servicing ($2,800). Total: 30,900 with 20% contingency = $37,080. Landlord provides $15,000 TI allowance. Timeline: 10 weeks from lease signing to opening.”

How yo umake money, at what price points, and in what volume

For retail: average transaction size, transactions per day, margin by product category. For service: service menu and pricing, average ticket, capacity (appointments per day). Include your seasonal revenue pattern — most physical businesses have meaningful peaks and troughs that affect cash flow planning.

Example: “Average transaction: $34. Target: 45 transactions/day at full operation. Gross margin: 52% blended. Peak months (Nov-Dec) projected at 160% of base. January-February at 65% of base. Seasonal pattern factored into 12-month cash flow projection.“

Startup costs, monthly P&L, cash flow, and break-even

Physical businesses need four financial statemens: a startup cost summary (everything before you open), a 12-month monthly P&L projection, a 12-month cash flow projection (different from P&L — see Money & Finance section), and a break-even analysis. Your break-even must account for fixed costs including rent, not just variable costs.

Example: “Monthly fixed costs: rent $4,200, payroll $8,400, utilities $600, insurance $280, POS $89 = $16,569. Break-even at 52% gross margin = $26,095/month in revenue, or approximately 768 transactions at $34 average. We project reaching break-even in month 4.“