Industry analysis and what to include?

This section should convey the industry or the target marketplace to the readers. It should be an integral part of the entire business plan since the readers would 

like to know a) whether the company is an expert in the market, b) whether the market is large enough for the company to grow exponentially and also whether the industry trends are working in favour of the company or not. For this, the section should include two sub-sections

  • • Market overview: This section discusses the general characteristics of the target market, mainly how big is the market growing? And what are the recent trends in the market etc.
  • Relevant market size: It denotes the annual revenue that the company earns if it would attain 100% market share. And this is represented by a formula; firstly, the number of customers who might be interested in buying the product/services for each year is estimated. And then, the expected monetary amount these customers might be willing to spend on this product /service on an annual basis is calculated. The product of these two will give you the relevant market size. These details should be provided to readers to know the size of the market opportunity.