Product & Service Description

The Product and Services Description is not merely a comprehensive list of what your company does. It can very well be the key that unlocks your business concept for investors. Businesses can be completely service-oriented (as many B2B companies) or a product-only company (such as a Franchise), or they can offer a mixture of products and services (like a spa). Whether your business offers one or two services or a suite of them, along with a product selection, your Product and Services Description should always emphasize detail.

Your Product and Services Description is a section that will be referenced continually, so it has to contain all the information necessary to educate your loan officer or investor on what you will bring to your industry. This section is often split into two or three components: a short introduction on the products or services offered and then a longer section devoted to the details of your product and service offering. A third section is often necessary to detail future services or products. The first section is usually a summary of your product or service offering. It often contains three short paragraphs and a series of bullet points on your offered products and/or services. The key to this section is to provide a "sampling" of what you offer (or plan to offer) to the public.

The second section builds upon the first by identifying the nature of your product or service offering. You can really get into specifics in this section, but be sure to make it only a page or two in length. If you are providing a new technology service, for instance, you don't want to divulge proprietary or sensitive information. Sensitive data can always be talked over after you and your investor have begun serious rounds of discussions. If your company is in the design phase of a new product or is currently testing a service, be sure to it them out (along with an estimated time of unveiling or launch). It will provide added enticement and reflect your distinctive flair for innovation.