In short: list what you sell, what each item costs you, what you charge, and the benefits customers get. A simple table, plus one line on why customers will want it, is enough.
What to Include
- Each product or service, with a short description.
- Cost to you and selling price for each.
- Customer benefits — what the customer gains, in their words.
- What is coming later, if you plan new products.
Features vs Benefits
| Feature (what it is) | Benefit (what the customer gets) |
|---|---|
| Baked every two hours | Always fresh bread |
| Order by phone | No waiting in line |
| Meeting catering | Easy breakfast for the whole team |
Simple Product Table Template
| Product | Cost to you | Price | Profit per item |
|---|---|---|---|
| [Name] | [Amount] | [Amount] | [Price − cost] |
Fill-In Worksheet
Answer these questions in a few words each. Your answers become this part of your plan.
- What are our main products or services?
- What does each one cost us, and what will we charge?
- What does the customer gain from each one?
- What might we add later?
Examples (Illustrative)
Illustrative example — a small bakery
| Product | Cost | Price | Profit |
|---|---|---|---|
| Pastry | 1.00 | 2.50 | 1.50 |
| Bread loaf | 1.20 | 3.00 | 1.80 |
| Coffee | 0.40 | 1.80 | 1.40 |
Illustrative example — a hair salon
| Service | Cost to us | Price | Profit |
|---|---|---|---|
| Haircut | 2.00 | 8.00 | 6.00 |
| Hair coloring | 6.00 | 20.00 | 14.00 |
| Braiding | 3.00 | 15.00 | 12.00 |
Common Mistakes
- Listing features only. Customers buy benefits.
- No costs. Without costs, nobody can check your profit.
- Too many products at the start. Start with a few you do very well.
Where It Fits in Your Business Plan
Products and services belong in the Business Overview section. Your costs and prices feed your pricing and profit margins.
Frequently Asked Questions
What goes in the products and services section?
Each product or service, its cost, its price, and the benefits customers get.
What is the difference between a feature and a benefit?
A feature is what the product is or does. A benefit is what the customer gains from it.
How many products should I list?
All the main ones. Many small businesses start with a few and add more later.
Should I include products I plan to add later?
Yes, briefly, and say they are planned.
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