The Product section describes the real estate you sell along with any other services you provide.Price will change according to the specifics of the property, but you can delineate your fees here. Place is your physical office location, along with your web presence and the areas where you sell.
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You also need to summarize your past and future Income Statements, Cash Flow Statements, and Balance Sheets, based on key assumptions that must be both reasonable and verifiable based on an analysis of similar companies.
You should also provide a solid exit strategy that shows your understanding of the market and your desire to capitalize on profitability.
Highlight any past milestones, such as lining up key clients or hiring an agent with a proven track record. Do they require hand holding through the entire process, or are they savvy buyers that just want you to show them the properties that interest them? Narrow down their demographics as closely as you can, and then figure out what their unique needs are and how you can fulfill them.
Elaborate on your unique qualifications, such as expertise in a currently underserved niche market. Figure out where your real estate company fits in, and then research the current trends and market projections that affect your niche. Competitive Analysis Your direct competitors are those real estate companies that fulfill the same needs for the same target market as yours.Another category, Customer retention, refers to the ways you will build loyalty.Operations Plan Your operations plan explains your methods for meeting the goals you set forth.Everyday short-term processes include all of the daily tasks involved in signing up clients, showing properties, and closing sales.Long-term processes are the ways you will meet your defined business goals, such as expanding into new markets or new types of properties.Real estate is a fickle market, subject to changing whims and economic cycles.Yet the financial plan requires you to detail your individual revenue streams by implementation timeline and relative importance, and disclose any sources of outside funding.A written business plan will keep you on track and help you grow your real estate business in an organized way.In addition, if you plan to seek funding, investors and lenders will use your business plan to determine the level of risk. Your business plan provides a snapshot of your real estate company as it currently exists, and lays out a road map for the next three to five years.Give a clear and concise description of your real estate company.Provide a summary of your market analysis that proves the need for another real estate business, and explain your company’s unique qualifications to meet that need.