Here’s an example using our fictional company called Terra Engineering . The company description is used to give your reader an understanding of what it is you do.
The Company Description Example Should Distill the Basics of the Business Plan Into One Simple, Clear and Easy to Understand Statement.
Sample Company Description
Terra Engineering is a new company that will provide high quality technical and environmental engineering services to it’s clients. Terra Engineering is scheduled to begin operations on July 16, 2005. Terra Engineering will be a partnership, owned and operated by Norm Johnson and Rupert Smith.
Mr. Johnson and Mr. Smith both have left their respective jobs in order to specialize in environmental engineering consulting to small and medium sized businesses.
Mr Johnson’s previous employment was with Randolf and Associates acting as an environmental engineer. Mr. Smith’s previous employment was with Barnard and Barry Environmental acting as chief environmental engineer.
Terra Engineering will target small to medium sized companies and government organizations within the Southern part of Michigan including Detroit and surrounding areas. Terra Engineering will seek major contracts with medium sized firms.
Those contracts will be served with the assistance of strategic alliances, both with other engineering companies such as Randolf and Associates and Barnard and Barry Environmental (letters of support attached in Appendix C) as well as other professional groups.
This will give the company the flexibility it needs to successfully secure and complete projects with varying elements. By using existing contracts and joint ventures with other consulting firms, Terra Engineering is in a position to corner the on-site assessments market in Southern Michigan. By year 3, Terra Engineering will expand to other markets such as Southern Ontario, Canada.
The market for on-site environmental assessments has continued to be under serviced in both, Southern Michigan and Southwestern Ontario, Canada. Mr. Johnson and Mr. Smith have both recognized that there is a high demand for these services as well as a shortage in supply.
Through their extensive contacts, they have determined that most environmental consultants don’t have the capacity to carry out such activities and as such, don’t offer this kind of service.
Therefore, Terra Engineering has initially set the stages as a possible Go-To company for other professional engineering groups that don’t have this capacity.
The primary objectives of Terra Engineering over the next year are to:
– Obtain commercial financing of $60,000 to cover start up costs and initial operating expenses;
– Generate one new client contract a month by networking with key industry leaders, conducting seminars and workshops, and joining key environmental agencies;
– Generate a net profit of $35,000 in the first year of operations by developing a strong client base and keeping overhead costs to a minimum;
– Develop and conduct 10 environmental engineering seminars that meets the needs of the surrounding communities.
Terra Engineering will be located at:
459 Duncan Avenue, Suite 1003
The office space is leased and will accommodate the necessary office equipment such as computers, fax machine, photo copier and other engineering equipment. There is a copy of the office lease in Appendix C.
Terra Engineering’s mission statement is to:
Become a leader in on-site environmental assessments by providing our clients with a solid service that saves them both time and money.
Example #1 Assessment
Alright, this company description is ok. It provides our reader with pertinent company information such as:
- Ownership structure
- Company info and history
- Locations and facility
- Customer and market info
- Mission statement
This product description is ok but you could probably do better. Give it a shot and remember to keep your reader in mind.
Take a look at these sample business plans for a comprehensive look at what a business plan should look like in its entirety. Also, if you need an online strategy for your business, I do offer strategic internet marketing plans.
See Company Description Example #2
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