This is arguably the most important part of launching a startup company.
If there’s no market for your business, the company will fail. All too often I see entrepreneurs rush into a decision because they fall in love with an idea.
A reason for opening could be that you identified that no other restaurants in the area serve the cuisine you specialize in.
You can briefly discuss the vision and future of your startup company, but you don’t need to go into too much detail.
Your company description can also incorporate your mission statement.
This is an opportunity for you to gain a better understanding of your startup.
You’ll cover that in greater depth as you write the rest of your business plan.
Keep in mind, this description is a summary, so there’s no reason for you to write a ton.
A business plan provides direction, keeps you on track and is usually a requirement when you seek finance.
Read Why do I need a business plan to find out how writing a business plan can assist your business.