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When you write a business plan that you want to send to several places to be reviewed, you must include a cover letter, as you would with any other business statement. The cover letter describes the main objective behind your concept and why you think it will be successful. We share some step for writing a cover letter for a business plan.

How to write a cover letter for a business plan

Step 1

You must make the letter in two pages or less. The plan contains the complete details that you want the reader to analyze (just write down the most important points). It provides enough information to encourage the reader to open the business plan for himself.

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Step 2

Identify yourself in the first lines of the letter. Write the name of the business, title and a small background of your companies that show the reader that you are well connected and established. If you have consulted before in that place and have been asked for more information about the subject, refresh your memory immediately.

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Step 3cover letter for a business plan

Write the reasons why you decided to undertake this new business idea. For example, if you detected the need for a new family restaurant in your community or if there is a high demand for a specific product determined by market research.

Step 4

Describe the benefits or advantages you have over others in this business concept. For example, if you have twenty years of experience in the area, a list of waiting clients or if you own a property in an ideal location to have a successful business, this information is important to increase the interest of the potential partner or investor.

Step 5

Provide key statistical information, demographic data, focus group responses or market research results you have done for the idea. This will show that you have met the requirements when writing a business plan and that you are not simply relying on dream assumptions or projections.

Step 6

Briefly mention how you intend to handle and thwart competitors’ threats. It clarifies to the reader why this new product or service is superior to the competition.

Step 7

Finish your letter with a short, cheerful and optimistic paragraph that reiterates your confidence in the idea. Ask the reader to call you directly after reviewing the information to ask questions or arrange a meeting in person to analyze the situation in depth.