Business Plan – Introduction section only

Purpose:
I need to write a business plan for my writing class. The business plan should include 5 sections including financials, introduction, marketing, business, and market, but I only need to do the introduction section for the business plan.

Summary of Business Ideas:
1. It is a virtual reality (VR) entertainment store/studio named “Anet”(A-rated network marketing).
2. The store is located in Little Toyoko, downtown Los Angeles because of the cheaper rent and the people (especially young people).
3. In the store, customers can pay to play the VR games, and we also sell different brands of VR and our own souvenirs such as T-shirts and mugs.
3. We have a bar in the store that customers can pay to get snacks and drinks.
4. We also have an online website that sells different brands of VR, T-shirts, and mugs.
5. In the online website, customers can make appointments for the real store and become a member and earn points. These points can be redeemed for souvenirs or time to play VR games.

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Business Plan – Introduction section only
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The following is the questions that you should answer in your Introduction section:
Introduction, also known as Your Product/Service: shows the “what” of your business. Questions to Answer—
1. What is the purpose of your business?
2. Does the product/service solve a problem or address an opportunity?
3. Is it a luxury item or a necessity?
4. How does the product/service achieve its purpose?
5. What are its unique features?
6. What is its technological life?
7. What are the chances it will become out-of-date?
8. What are the chances it will change in style/fashion?
9. Is the product/service capital-intensive?
10. Is it labor-intensive?
11. Is it material-intensive?
12. Will some or all of the business need to be subcontracted?
13. Does the company’s survival rest on someone else?
14. Are there any regulatory/approval requirements?
15. What liabilities may the product/service pose? Are there insurance requirements?
16. How does this product/service compare to similar ones?
17. What are any special manufacturing/technological considerations?
18. Is equipment involved? What is its reliability?
19. What are related services you will provide?
20. How will they increase/enhance the profitability of your venture?

Common Mistakes
1. Describing the product/service too technically, too broadly, or to ambigiously
2. Failing to complete research on how to protect from liability or competition.
3. Identifying too much red tape/uncertainties from regulatory agencies.
4. Including weak future development plans

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