Competition is good. Having competitors who are doing well is even better. Why? Competition proves there is a market for your products and/or services. The business plan writer should identify the competition and how well they are doing, if possible.

You are entering the market even though there is competition because you can do it better, faster, cheaper, more reliably or for some other reason or combination of reasons that will attract your competitors' customers.

The business plan must convey information about your competition to the reader and explain your unique competitive advantages.

The Business Plan Store carefully analyzes its clients' competitive environments in order to help clients develop competitive strategies and to convincingly communicate those strategies in the business plan.