Simple Business Plan Template (2023)
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Updated: Dec 16, 2022, 11:45pm
Table of Contents
Why business plans are vital, get your free simple business plan template, how to write an effective business plan in 6 steps, frequently asked questions.
While taking many forms and serving many purposes, they all have one thing in common: business plans help you establish your goals and define the means for achieving them. Our simple business plan template covers everything you need to consider when launching a side gig, solo operation or small business. By following this step-by-step process, you might even uncover a few alternate routes to success.
Whether you’re a first-time solopreneur or a seasoned business owner, the planning process challenges you to examine the costs and tasks involved in bringing a product or service to market. The process can also help you spot new income opportunities and hone in on the most profitable business models.
Though vital, business planning doesn’t have to be a chore. Business plans for lean startups and solopreneurs can simply outline the business concept, sales proposition, target customers and sketch out a plan of action to bring the product or service to market. However, if you’re seeking startup funding or partnership opportunities, you’ll need a write a business plan that details market research, operating costs and revenue forecasting.
Whichever startup category you fall into, if you’re at square one, our simple business plan template will point you down the right path.
Copy our free simple business plan template so you can fill in the blanks as we explore each element of your business plan. Need help getting your ideas flowing? You’ll also find several startup scenario examples below.
Download free template as .docx
Whether you need a quick-launch overview or an in-depth plan for investors, any business plan should cover the six key elements outlined in our free template and explained below. The main difference in starting a small business versus an investor-funded business is the market research and operational and financial details needed to support the concept.
1. Your Mission or Vision
Start by declaring a “dream statement” for your business. You can call this your executive summary, vision statement or mission. Whatever the name, the first part of your business plan summarizes your idea by answering five questions. Keep it brief, such as an elevator pitch. You’ll expand these answers in the following sections of the simple business plan template.
- What does your business do? Are you selling products, services, information or a combination?
- Where does this happen? Will you conduct business online, in-store, via mobile means or in a specific location or environment?
- Who does your business benefit? Who is your target market and ideal customer for your concept?
- Why would potential customers care? What would make your ideal customers take notice of your business?
- How do your products and/or services outshine the competition? What would make your ideal customers choose you over a competitor?
These answers come easily if you have a solid concept for your business, but don’t worry if you get stuck. Use the rest of your plan template to brainstorm ideas and tactics. You’ll quickly find these answers and possibly new directions as you explore your ideas and options.
2. Offer and Value Proposition
This is where you detail your offer, such as selling products, providing services or both, and why anyone would care. That’s the value proposition. Specifically, you’ll expand on your answers to the first and fourth bullets from your mission/vision.
As you complete this section, you might find that exploring value propositions uncovers marketable business opportunities that you hadn’t yet considered. So spend some time brainstorming the possibilities in this section.
For example, a cottage baker startup specializing in gluten-free or keto-friendly products might be a value proposition that certain audiences care deeply about. Plus, you could expand on that value proposition by offering wedding and other special-occasion cakes that incorporate gluten-free, keto-friendly and traditional cake elements that all guests can enjoy.
3. Audience and Ideal Customer
Here is where you explore bullet point number three, who your business will benefit. Identifying your ideal customer and exploring a broader audience for your goods or services is essential in defining your sales and marketing strategies, plus it helps fine-tune what you offer.
There are many ways to research potential audiences, but a shortcut is to simply identify a problem that people have that your product or service can solve. If you start from the position of being a problem solver, it’s easy to define your audience and describe the wants and needs of your ideal customer for marketing efforts.
Using the cottage baker startup example, a problem people might have is finding fresh-baked gluten-free or keto-friendly sweets. Examining the wants and needs of these people might reveal a target audience that is health-conscious or possibly dealing with health issues and willing to spend more for hard-to-find items.
However, it’s essential to have a customer base that can support your business. You can be too specialized. For example, our baker startup can attract a broader audience and boost revenue by offering a wider selection of traditional baked goods alongside its gluten-free and keto-focused specialties.
4. Revenue Streams, Sales Channels and Marketing
Thanks to our internet-driven economy, startups have many revenue opportunities and can connect with target audiences through various channels. Revenue streams and sales channels also serve as marketing vehicles, so you can cover all three in this section.
Revenue Streams
Revenue streams are the many ways you can make money in your business. In your plan template, list how you’ll make money upon launch, plus include ideas for future expansion. The income possibilities just might surprise you.
For example, our cottage baker startup might consider these revenue streams:
- Product sales : Online, pop-up shops , wholesale and (future) in-store sales
- Affiliate income : Monetize blog and social media posts with affiliate links
- Advertising income : Reserve website space for advertising
- E-book sales : (future) Publish recipe e-books targeting gluten-free and keto-friendly dessert niches
- Video income : (future) Monetize a YouTube channel featuring how-to videos for the gluten-free and keto-friendly dessert niches
- Webinars and online classes : (future) Monetize coaching-style webinars and online classes covering specialty baking tips and techniques
- Members-only content : (future) Monetize a members-only section of the website for specialty content to complement webinars and online classes
- Franchise : (future) Monetize a specialty cottage bakery concept and sell to franchise entrepreneurs
Sales Channels
Sales channels put your revenue streams into action. This section also answers the “where will this happen” question in the second bullet of your vision.
The product sales channels for our cottage bakery example can include:
- Mobile point-of-sale (POS) : A mobile platform such as Shopify or Square POS for managing in-person sales at local farmers’ markets, fairs and festivals
- E-commerce platform : An online store such as Shopify, Square or WooCommerce for online retail sales and wholesale sales orders
- Social media channels : Facebook, Instagram and Pinterest shoppable posts and pins for online sales via social media channels
- Brick-and-mortar location : For in-store sales , once the business has grown to a point that it can support a physical location
Channels that support other income streams might include:
- Affiliate income : Blog section on the e-commerce website and affiliate partner accounts
- Advertising income : Reserved advertising spaces on the e-commerce website
- E-book sales : Amazon e-book sales via Amazon Kindle Direct Publishing
- Video income : YouTube channel with ad monetization
- Webinars and online classes : Online class and webinar platforms that support member accounts, recordings and playback
- Members-only content : Password-protected website content using membership apps such as MemberPress
Nowadays, the line between marketing and sales channels is blurred. Social media outlets, e-books, websites, blogs and videos serve as both marketing tools and income opportunities. Since most are free and those with advertising options are extremely economical, these are ideal marketing outlets for lean startups.
However, many businesses still find value in traditional advertising such as local radio, television, direct mail, newspapers and magazines. You can include these advertising costs in your simple business plan template to help build a marketing plan and budget.
5. Structure, Suppliers and Operations
This section of your simple business plan template explores how to structure and operate your business. Details include the type of business organization your startup will take, roles and responsibilities, supplier logistics and day-to-day operations. Also, include any certifications or permits needed to launch your enterprise in this section.
Our cottage baker example might use a structure and startup plan such as this:
- Business structure : Sole proprietorship with a “doing business as” (DBA) .
- Permits and certifications : County-issued food handling permit and state cottage food certification for home-based food production. Option, check into certified commercial kitchen rentals.
- Roles and responsibilities : Solopreneur, all roles and responsibilities with the owner.
- Supply chain : Bulk ingredients and food packaging via Sam’s Club, Costco, Amazon Prime with annual membership costs. Uline for shipping supplies; no membership needed.
- Day-to-day operations : Source ingredients and bake three days per week to fulfill local and online orders. Reserve time for specialty sales, wholesale partner orders and market events as needed. Ship online orders on alternating days. Update website and create marketing and affiliate blog posts on non-shipping days.
6. Financial Forecasts
Your final task is to list forecasted business startup and ongoing costs and profit projections in your simple business plan template. Thanks to free business tools such as Square and free marketing on social media, lean startups can launch with few upfront costs. In many cases, cost of goods, shipping and packaging, business permits and printing for business cards are your only out-of-pocket expenses.
Cost Forecast
Our cottage baker’s forecasted lean startup costs might include:
Gross Profit Projections
This helps you determine the retail prices and sales volume required to keep your business running and, hopefully, earn income for yourself. Use product research to spot target retail prices for your goods, then subtract your cost of goods, such as hourly rate, raw goods and supplier costs. The total amount is your gross profit per item or service.
Here are some examples of projected gross profits for our cottage baker:
Bottom Line
Putting careful thought and detail in a business plan is always beneficial, but don’t get so bogged down in planning that you never hit the start button to launch your business . Also, remember that business plans aren’t set in stone. Markets, audiences and technologies change, and so will your goals and means of achieving them. Think of your business plan as a living document and regularly revisit, expand and restructure it as market opportunities and business growth demand.
Is there a template for a business plan?
Yes, you can copy our free business plan template and fill in the blanks or customize it in Google Docs, Microsoft Word or another word processing app. This free business plan template includes the six key elements that any entrepreneur needs to consider when launching a new business.
What does a simple business plan include?
A simple business plan is a one- to two-page overview covering six key elements that any budding entrepreneur needs to consider when launching a startup. These include your vision or mission, product or service offering, target audience, revenue streams and sales channels, structure and operations, and financial forecasts.
How can I create a free business plan template?
Start with this free simple business plan template that covers the six essential elements of a startup. Once downloaded, you can edit this document in Google Docs or another word processing app and add new sections or subsections to your plan template to meet your specific business plan needs.
What basic items should be included in a business plan?
When writing out a business plan, you want to make sure that you cover everything related to your concept for the business, an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.
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Krista Fabregas is a seasoned eCommerce and online content pro sharing more than 20 years of hands-on know-how with those looking to launch and grow tech-forward businesses. Her expertise includes eCommerce startups and growth, SMB operations and logistics, website platforms, payment systems, side-gig and affiliate income, and multichannel marketing. Krista holds a bachelor's degree in English from The University of Texas at Austin and held senior positions at NASA, a Fortune 100 company, and several online startups.
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Free Business Plan Template With Examples for Small Businesses (2023)
- by Desirae Odjick
- Starting Up
- Nov 9, 2022
- 11 minute read
A business plan is the secret to starting a business successfully.
The easiest way to simplify the work of writing a business plan is to start with a business plan template.
You’re already investing time and energy in refining your business model and planning your launch—there’s no need to reinvent the wheel when it comes to formatting your plan. Instead, to help build a complete and effective plan, lean on time-tested structures created by entrepreneurs and startups who have come before you.
Free: Business Plan Template
Business planning is often used to secure funding, but plenty of business owners find writing a plan valuable, even if they never work with an investor. That’s why we put together a free business plan template to help you get started.
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What our business plan template includes
This template is designed to ensure you’re thinking through all of the important facets of starting a new business. It’s intended to help new business owners and entrepreneurs consider the full scope of running a business and identify functional areas they may not have considered or where they may need to level up their skills as they grow.
That said, it may not include the specific details or structure preferred by a potential investor or lender. If your goal with a business plan is to secure funding , check with your target organizations—typically banks or investors—to see if they have business plan templates you can follow to maximize your chances of success.
Our free business plan template includes seven key elements typically found in the traditional business plan format:
- Executive summary: This is a one-page summary of your whole plan, typically written after the rest of the plan is completed. The description section of your executive summary will also cover your management team, business objectives and strategy, and other background information about the brand. You may consider including a mission statement here.
- Market analysis: A well researched business plan should also analyze the market you hope to reach with your business idea. This section includes everything from estimated market size to your target markets and competitive advantage. It’ll include a competitive analysis of your industry to address competitors strengths and weaknesses.
- Products and services: What you sell and the most important features of your products or services. It’ll also include any plans for intellectual property, like patent filings or copyright. If you do market research for new product lines, it’ll show up in this section of your business plan.
- Marketing plan: How you intend to get the word out about your business, and what strategic decisions you’ve made about things like your pricing strategy. It also covers potential customers’ demographics, sales plan, and your metrics and milestones for success.
- Logistics and operations plan: Everything that needs to happen to turn your raw materials into products and get them into the hands of your customers.
- Financial plan: It’s important to include a look at your financial projections, including both revenue and expense projections. This section includes templates for three key financial statements: an income statement, a balance sheet, and a cash-flow statement . You can also include whether or not you need a business loan and how much it’ll be.
In our business plan template, each section includes an overview of the most important information to cover and guidelines on how to approach writing and researching each one.
Professional business plan example
We’ve filled out a sample business plan as a companion to our template, featuring a fictional ecommerce business . We’ve noted where—and how—an entrepreneur could add more details to expand on their business plans, depending on their goals.
Our fictional business creates custom greeting cards with your pet’s paw prints on them, and the founder of the business is writing a plan to help understand the target market, as well as the logistics and costs involved, to give themselves the best chance of success before they launch.
The sample is set up to help you get a sense of each section and understand how they apply to the planning and evaluation stages of a business plan. If you’re looking for funding, this example won’t be a complete or formal look at a business plan, but it will give you a great place to start and notes about where to expand.
Before you write your own, read through the following business plan example . You can download a copy in Microsoft Word or Google Docs and use it to inspire your own planning.
Download the business plan example (.doc)
Lean business plan example
A lean business plan format is a shortened version of your more detailed business plan. It’s helpful when modifying your plan for a specific audience, like investors or new hires.
Also known as a one-page business plan, it includes only the most important, need-to-know information, such as:
- Company description
- Key members of your team
- Customer segments
- Marketing plan
Want to create a lean business plan? Read Trimming It Down: How to Create a Lean Business Plan .
A good business plan helps you operate successfully
It’s tempting to dive right into execution when you’re excited about a new business or side project, but taking the time to write a solid business plan and get your thoughts on paper allows you to do a number of beneficial things:
- Test the viability of business ideas. Whether you’ve got one business idea or many, business plans can make an idea more tangible, helping you see if it’s truly viable.
- Plan for your next phase. Whether your goal is to start a new business or scale an existing business to the next level, a business plan can help you understand what needs to happen and identify gaps to address.
- Clarify marketing strategy, goals, and tactics. Writing a business plan can show you the actionable next steps to take on a big, abstract idea. It can also help you narrow your strategy and identify clear-cut tactics that will support it.
- Scope the necessary work. Without a concrete plan, cost overruns and delays are all but certain. A business plan can help you see the full scope of work to be done and adjust your investment of time and money accordingly.
- Hire and build partnerships. When you need buy-in from potential employees and business partners, especially in the early stages of your business, a clearly written business plan is one of the best tools at your disposal. A business plan provides a refined look at your goals for the business, letting partners judge for themselves whether or not they agree with your vision.
- Secure funds. Seeking financing for your business—whether from venture capital, financial institutions, or Shopify Capital —is one of the most common reasons to create a business plan.
Should you use a template for a business plan?
A business plan can be as informal or formal as your situation calls for, but even if you’re a fan of the back-of-the-napkin approach to planning, there are some key benefits to starting your plan from an existing outline or template.
- No blank-page paralysis. A blank page can be intimidating to even the most seasoned writers. Using an established business planning process and template can help you get past the inertia of starting your business plan, and it allows you to skip the work of building an outline from scratch. You can always adjust a template to suit your needs.
- Guidance on what to include in each section. If you’ve never sat through a business class, you might never have created a SWOT analysis or financial projections before. Templates that offer guidance—in plain language—about how to fill in each section can help you navigate sometimes-daunting business jargon and create a complete and effective plan.
- Knowing you’ve considered every section. In some cases, you may not need to complete every section of a startup business plan template, but its initial structure shows you you’re choosing to omit a section as opposed to forgetting to include it in the first place.
Tips for creating a successful business plan
There are some high-level strategic guidelines beyond the advice included in this free business plan template that can help you write an effective, complete plan while minimizing busywork.
- If you’re writing a business plan for yourself in order to get clarity on your ideas and your industry as a whole, you may not need to include the same level of detail or polish you would with a business plan you want to send to potential investors. Knowing who will read your plan will help you decide how much time to spend on it.
- Know your goals. Understanding the goals of your plan can help you set the right scope. If your goal is to use the plan as a roadmap for growth, you may invest more time in it than if your goal is to understand the competitive landscape of a new industry.
- Take it step by step. Writing a 10- to 15-page document can feel daunting, so try to tackle one section at a time. Select a couple of sections you feel most confident writing and start there—you can start on the next few sections once those are complete. Jot down bullet-point notes in each section before you start writing to organize your thoughts and streamline the writing process.
Once you’ve done the strategic work, it’s time to put it into action and write your plan. Download the business plan template and review our guide on writing a business plan for additional information.
Maximizing your business planning efforts
Planning is key to the financial success of any type of business , whether you’re a startup, non-profit, or corporation.
To make sure your efforts are focused on the highest-value parts of your own business planning, like clarifying your goals, setting a strategy, and understanding the target market and competitive landscape, lean on a business plan outline to handle the structure and format for you. Even if you eventually omit sections, you’ll save yourself time and energy by starting with a framework already in place.
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Business plan template faq, what is the purpose of a business plan, how do i write a simple business plan.
- Choose a business plan format, such as traditional or a one-page business plan.
- Find a business plan template.
- Read through a business plan sample.
- Fill in the sections of your business plan.
What are the 7 sections of a business plan?
- Executive summary
- Market analysis
- Products and services
- Marketing strategy
- Logistics and operations plan
- Financial statements and projections
What is the best business plan template?
What are the 5 essential parts of a business plan.
- Executive Summary : This is a brief overview of the business plan, summarizing the key points and highlighting the main points of the plan
- Business Description : This section outlines the business concept and how it will be executed
- Market Analysis : This section provides an in-depth look at the target market and how the business will compete in the marketplace
- Financial Plan : This section details the financial projections for the business, including sales forecasts, capital requirements, and a break-even analysis
- Management and Organization : This section describes the management team and the organizational structure of the business
How do you write a business plan?
- Executive Summary : Provide a concise overview of your business, products/services, goals, and plans for achieving those goals
- Company Description : Explain the type of business you are in, where you are located, and what you offer
- Market Analysis : Research your industry, target market, and competitors to gain insight into the opportunities and threats that may affect your business
- Organization and Management : Describe the organizational structure of your business, including management, employees, and advisors
- Service or Product Line : Explain what products or services you offer, how they are unique, and how they will meet the needs of your customers
- Marketing and Sales : Describe how you plan to market and sell your products/services, including pricing strategy, advertising and promotions
- Funding Request : Explain the capital you need to start or expand your business, how you plan to use it, and how you plan to pay it back
- Financial Projections : Provide an estimate of your anticipated income and expenses over the next three to five years
- Appendix : Include any additional information that will support your business plan, such as resumes, leases, contracts, and product samples
About the author
Desirae Odjick
Desirae is a senior product marketing manager at Shopify, and has zero chill when it comes to helping entrepreneurs grow their businesses.
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What is a business plan?
A business plan is a document that helps small business owners determine the viability of their business idea. Combining market research and financial analysis, a professional business plan helps startup CEOs and potential investors determine if the company can compete in the target market.
Typically, a good business plan consists of the following:
- Executive summary
- Company description
- Mission statement
- Product and services
- Marketing plan
- Operations plan
- Management organization
- Financial plan
- Conclusion & appendix
Every section involved in a business plan is designed to help startup businesses reach their target market.
A business plan asks founders and entrepreneurs to detail their business strategy in a step-by-step process that makes sense from an operational perspective. This is essential if a startup is seeking a business loan or an investment from a venture capital firm.
However, even small businesses that are already economically viable can benefit from creating a business plan, since it encourages business owners and their management teams to examine their business model and reevaluate the best ways to reach their target customers.
Should I use a business plan template?
Yes. If you’ve never written one, a business plan can be challenging to write.
Creating a successful plan that you can use to grow your small business can require weeks of market analysis and financial preparation. You may spend time using Microsoft Excel or Powerpoint in order to create documentation which better supports our operational decisions.
However, almost every professional business plan is structured in the same way and most ask for the same information. Because of this, using a business plan template is advisable to save time, money, and effort.
Business plan templates for free
Rather than spending time trying to figure out how to write a business plan , use a free template as a guide to completion.
Business plan templates from PandaDoc can help you reach an effective go-to-market strategy even faster by asking you to provide all the relevant information you need when creating an effective business plan.
Grab a free template to get started!
Frequently asked questions
How many pages should my business plan be.
This depends on the kind of business plan you need to write and how you intend to use the plan that you create.
For example, a plan for a small business seeking potential investors or a business loan will need to provide income statements, cash flow statements, and a balance sheet (usually for a three-year or five-year forecast period).
These financial statements can be omitted if a small business owner isn’t seeking funding and is instead planning to use their business plan as a guiding document for themselves and their management team members.
Some business plans may only run a few pages. Fully-developed business plans can be as long as 50 pages. Much of this depends on the type of business, the operational strategy, and the level of detail that goes into developing the business plan.
Who needs a business plan?
Every business should have a business plan. This is an essential guidance document for any founder or CEO.
Good business plans help a company determine the viability of its place in the market and can help the business develop better strategies for differentiating itself from its competitors.
Business planning also forces business owners to evaluate their marketing strategy, the cost of customer acquisition and retention, and how they plan to grow their business over time.
What is the best business plan template?
Business plans come in all shapes and sizes. The best business plan template for your business is one that you understand and that matches the size and legal structure of your operation.
If you’re a sole proprietor, a business plan template designed for a big corporation probably doesn’t make sense. However, a business plan that helps you build an effective roadmap to grow your business while protecting your intellectual property is a good starting point.
PandaDoc offers specialized business plan templates for common industries along with tips to help you get started with business planning.
Should I hire someone to write my business plan for me?
No. You’ll find freelance writers and business strategy companies out there who are happy to write your business plan for a fee. These resources can guide you through the process, but you should write (or be heavily involved in) the creation of your business plan.
The reason for this is simple: You know the most about your business, and your business needs you to succeed.
A writer can work with you to make your business plan sound better to investors, and a consultant can help you fill in knowledge gaps — like how to conduct a SWOT analysis — and point out weaknesses in your plan. But, at the end of the day, you need to use the business plan to pitch investors and run your business.
Those ideas and guiding principles aren’t something you can outsource.
Should I use business planning software?
Software isn’t required when creating an effective business plan. Most business planning software is designed to help you navigate the outlining and writing process more effectively.
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Simple Business Plan Template for Entrepreneurs
Follow this business plan outline to write your own.
Susan Ward wrote about small businesses for The Balance for 18 years. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.
:max_bytes(150000):strip_icc():format(webp)/SusanWardLaptop2crop1-57aa62eb5f9b58974a12bac9.jpg "sole trader business plan template free")
Pros and Cons of Using a Business Plan Template
Do i need a simple or detailed business plan, how to use this business plan template, table of contents, section 1: executive summary, section 2: business/industry overview.
- Section 3: Market Analysis and Competition
Section 4: Sales and Marketing Plan
Section 5: ownership and management plan, section 6: operating plan, section 7: financial plan.
- Section 8: Appendices and Exhibits
Ariel Skelley / Getty Images
Think you have a great idea for a business? The best way to find out whether your idea is feasible is to create a business plan .
A solid, well-researched business plan provides a practical overview of your vision. It can be used to ground your ideas into workable actions and to help pitch your idea to financial institutions or potential investors when looking for funding.
The standard business plan consists of a single document divided into several sections for distinct elements, such as a description of the organization, market research, competitive analysis, sales strategies, capital and labor requirements, and financial data. Your plan may include more or fewer sections to best represent your business.
The template presented here will get you well on your way toward your simple business plan.
Ready-made layouts
Free downloads
Generic, not customized
No financial guidance
Additional skills needed
- Ready-made layouts : Templates offer general guidance about what information is needed and how to organize it, so you’re not stuck looking at a blank page when getting started. Especially detailed templates may offer instructions or helpful text prompts along the way.
- Variations : If you know what type of business plan you need—traditional, lean, industry-specific—chances are you can find a specialized template.
- Free downloads : There are many free business plan templates available online, which can be useful for comparing formats and features, or refining your own.
- Generic, not customized : Templates typically contain just the basics, and there will still be a lot of work involved to tailor the template to your business. For instance, you'll have to reformat, refine copy, and populate tables.
- No financial guidance : You’ll need enough industry knowledge to apply financial models to your specific business, and the math skills to generate formulas and calculate figures.
- Additional skills needed : Some degree of tech savvy is required to integrate charts and graphs, merge data from spreadsheets, and keep it all up-to-date.
A corporate business plan for a large organization can be hundreds of pages long. However, for a small business, it's best to keep the plan short and concise, especially if you're submitting it to bankers or investors . Around 35 to 50 pages should be sufficient, and more allowed for extras, such as photos of products, equipment, logos, or business premises or site plans. Your audience will likely prefer solid research and analysis over long, wordy descriptions.
An entrepreneur who creates a business plan is nearly twice as likely to secure financing and grow their business compared with those who do not have a plan.
The business plan template below is divided into sections as described in the table of contents. Each section can be copied into a document of your own; you may need to add or delete sections or make adjustments to fit your specific needs.
Once complete, be sure to format it attractively and get it professionally printed and bound. You want your business plan to convey the best possible impression. Make it engaging, something people will to want to pick up and peruse.
Enter your business information, including the legal name and address. If you already have a business logo, you can add it at the top or bottom of the title page.
- Business Plan for "Business Name"
- Business address
- Website URL
If you're addressing it to a company or individual, include:
- Presented to "Name"
- At "Company"
- Executive Summary................................................Page #
- Business/Industry Overview.................................Page #
- Market Analysis and Competition.........................Page #
- Sales and Marketing Plan.......................................Page #
- Ownership and Management Plan.......................Page #
- Operating Plan..........................................................Page #
- Financial Plan............................................................Page #
- Appendices and Exhibits........................................Page #
The executive summary introduces the plan, but it is written last. It provides a concise and optimistic overview of your business and should capture the reader's attention and create a desire to learn more. The executive summary should be no more than two pages long, with highlights or brief summaries of other sections of the plan.
- Describe your mission —what is the need for your new business? Sell your vision.
- Introduce your company briefly, sticking to vital details such as size, location, management, and ownership.
- Describe your main product(s) and/or service(s).
- Identify the customer base you plan to target and how your business will serve those customers.
- Summarize the competition and how you will get market share. What is your competitive advantage?
- Outline your financial projections for the first few years of operation.
- State your startup financing requirements.
This section provides an overview of the industry and explains in detail what makes your business stand out.
- Describe the overall nature of the industry, including sales and other statistics. Note trends and demographics, as well as economic, cultural, and governmental influences.
- Explain your business and how it fits into the industry.
- Mention the existing competition, which you'll expand upon in the following section.
- Identify what area(s) of the market you will target and what unique, improved, or lower-cost products and/or services you will offer.
Many business plans cover their products/services in a standalone section to add more detail or emphasize unique aspects.
Section 3: Market Analysis and Competition
This section focuses on the competitive factor of your business and justifies it with financial models and statistics. You need to demonstrate that you have thoroughly analyzed the target market, assessed the competition, and concluded that there is enough demand for your products/services to make your business viable.
- Define the target market(s) for your products/services in your geographic locale.
- Explain the need for your products/services.
- Estimate the overall size of the market and the units of your products/services that the target market might buy. Include forecasts of potential repeat-purchase volume and how the market might be affected by economic or demographic changes.
- Estimate the volume and value of your sales in comparison with any existing competitors. Highlight any key strengths over the competition in easily digestible charts and tables.
- Describe any helpful barriers to entry that may protect your business from competition, such as access to capital, technology, regulations, employee skill sets, or location.
You may opt to split the target market description and competitive analysis into two separate sections, if either (or both) portray your business especially favorably.
Here's where you dive into profits, giving detailed strategic view of how you intend to entice customers to buy your products and/or services, including advertising or promotion, pricing, sales, distribution, and post-sales support.
Product or Service Offerings
If your products and/or services don't take up a standalone section earlier in the plan, here is where you can answer the question: What is your unique selling proposition? Describe your products and/or services, how they benefit the customer and what sets them apart from competitor offerings.
Pricing Strategy
How will you price your products/services? Pricing must be low enough to attract customers, yet high enough to cover costs and generate a profit. You can base pricing decisions on a number of financial models, such as markup from cost or value to the buyer, or in comparison with similar products and/or services in the marketplace.
Sales and Distribution
For products, describe how you plan to distribute to the customer. Will you be selling wholesale or retail? What type of packaging will be required? How will products be shipped? If you offer a service, how will it be delivered to the customer? What methods will be used for payment?
Advertising and Promotion
List the various forms of media you will use to get your message to customers (e.g., website, email, social media, or newspapers). Will you use sales promotional methods such as free samples and product demonstrations? What about product launches and trade shows? Don't forget more everyday marketing materials such as business cards, flyers, or brochures. Include an approximate budget.
This section describes the legal structure, ownership, and (if applicable) management and staffing requirements of your business.
- Ownership structure : Describe the legal structure of your company (e.g., corporation, partnership, LLC, or sole proprietorship ). List ownership percentages, if applicable. If the business is a sole proprietorship, this is the only section required.
- Management team : Describe managers and their roles, key employee positions, and how each will be compensated. Include brief résumés.
- External resources and services : List any external professional resources required, such as accountants, lawyers, or consultants.
- Human resources : List the type and number of employees or contractors you will need, and estimate the salary and benefit costs of each.
- Advisory board : Include an advisory board as a supplemental management resource, if applicable.
The operating plan outlines the physical requirements of your business, such as office, warehouse, or retail space; equipment; supplies; or labor. This section will vary greatly by industry; a large manufacturer, for instance, should provide full details about supply chain or specialty equipment, while a therapist's office can get by with a much shorter list.
If your business is a small operation (like a one-person, home-based consulting firm), you might choose to eliminate the operating plan section altogether and include the operating essentials in the business overview.
- Development : Explain what you have done to date to identify possible locations, sources of equipment, supply chains, and other relevant relationships. Describe your production workflow.
- Production : For manufacturing, explain how long it takes to produce a unit and when you'll be ready to start production. Include factors that may affect the time frame of production and how you'll deal with potential problems, such as rush orders.
- Facilities : Describe the physical location of the business. Include geographical or building requirements; square footage estimates (with room for expansion if expected); mortgage or leasing costs; and estimates of maintenance, utilities, and related overhead costs . Include zoning approvals and other permissions that are necessary in order to operate.
- Staffing : Outline expected staffing needs and the main duties of staff members, especially the key employees. Describe how the employees will be sourced and the employment relationship (i.e., contract, full-time, part-time) as well as any training needs and how these will be provided.
- Equipment : Include a list of any specialized equipment needed, along with cost, whether it will be leased or purchased, and sources.
- Supplies : If your business is, for example, manufacturing, retail, or food services, include a description of the materials needed, reliable sources, major suppliers, and how you will manage inventory.
The financial plan is the most important section for lenders or investors. The goal is to demonstrate that your business will grow and be profitable. To do this, you will need to create realistic predictions or forecasts.
To avoid inflated expectations, a prudent financial plan underestimates revenues and overestimates expenses.
- Income statements : The income statement displays projected revenues, expenses, and profit. Do this on a monthly basis for at least the first year for a startup business.
- Cash-flow projections : The cash-flow projection shows your monthly anticipated cash revenues and disbursements for expenses. To be considered a good credit risk, it is important to demonstrate that you can manage your cash flow.
- Balance sheet : The balance sheet is a snapshot summary of the assets, liabilities, and equity of your business at a particular point in time. For a startup, this would be on the day the business opens.
- Breakeven analysis : Including a breakeven analysis will demonstrate to lenders or investors what level of sales you need to achieve to make a profit.
Section 8: Appendices and Exhibits
The appendices and exhibits section contains any detailed information needed to support other sections of the plan.
Possible Appendix or Exhibit items include:
- Credit histories for the business owners
- Detailed market research and analysis of competitors
- Résumés of the owners and key employees
- Diagrams and/or research about your products and/or services
- Site, building, or office plans
- Copies of mortgage documents or equipment leases (or quotes)
- Marketing brochures and other materials
- References from business colleagues
- Links to your business website
- Any other material that may impress potential lenders or investors
SCORE. " Business Plan Template for a Startup Business ." Accessed April 28, 2021.
U.S. Small Business Administration. " Write your business plan ." Accessed April 28, 2021.
U.S. Small Business Administration. " SBA Recommended Business Plans and Length ." Accessed April 28, 2021.
Bplans. " Why Plan Your Business? Look at This Data ." Accessed April 28, 2021.
Marketing MO. " Pricing Strategy ." Accessed April 28, 2021.
Incorporate.com. " Write a Business Plan, a Step-by-Step Guide ." Accessed April 29, 2021.
Startup Nation. " The Five Costs You're Most Likely to Underestimate in Your Business Plan ." Accessed April 28, 2021.
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Simple Business Plan Templates
Smartsheet Contributor Joe Weller
April 2, 2020
In this article, we’ve compiled a variety of simple business plan templates, all of which are free to download in PDF, Word, and Excel formats.
On this page, you’ll find a one-page business plan template , a simple business plan for startups , a small-business plan template , a business plan outline , and more. We also include a business plan sample and the main components of a business plan to help get you started.
Simple Business Plan Template
Download Simple Business Plan Template
This simple business plan template lays out each element of a traditional business plan to assist you as you build your own, and it provides space to add financing information for startups seeking funding. You can use and customize this simple business plan template to fit the needs for organizations of any size.
One-Page Business Plan Template
Download One-Page Business Plan Template
Excel | Word | PDF | Smartsheet
Use this one-page business plan to document your key ideas in an organized manner. The template can help you create a high-level view of your business plan, and it provides easy scannability for stakeholders. You can use this one-page plan as a reference to build a more detailed blueprint for your business.
For additional single page plans, take a look at " One-Page Business Plan Templates with a Quick How-To Guide ."
Simple Fill-in-the-Blank Business Plan Template
Download Simple Fill-in-the-Blank Business Plan Template
Use this fill-in-the-blank business plan template to guide you as you build your business plan. Each section comes pre-filled with sample content, with space to add customized verbiage relevant to your product or service.
For additional free, downloadable resources, visit " Free Fill-In-the-Blank Business Plan Templates ."
Simple Business Plan for Startup
Download Startup Business Plan Template — Word
This business plan template is designed with a startup business in mind and contains the essential elements needed to convey key product or service details to investors and stakeholders. Keep all your information organized with this template, which provides space to include an executive summary, a company overview, competitive analysis, a marketing strategy, financial data, and more. For additional resources, visit " Free Startup Business Plan Templates and Examples ."
Simple Small-Business Plan Template
Download Simple Small-Business Plan Template
This template walks you through each component of a small-business plan, including the company background, the introduction of the management team, market analysis, product or service offerings, a financial plan, and more. This template also comes with a built-in table of contents to keep your plan in order, and it can be customized to fit your requirements.
Lean Business Plan Template
Download Lean Business Plan Template
This lean business plan template is a stripped-down version of a traditional business plan that provides only the most essential aspects. Briefly outline your company and industry overview, along with the problem you are solving, as well as your unique value proposition, target market, and key performance metrics. There is also room to list out a timeline of key activities.
Simple Business Plan Outline Template
Download Simple Business Plan Outline Template
Word | PDF
Use this simple business plan outline as a basis to create your own business plan. This template contains 11 sections, including a title page and a table of contents, which details what each section should cover in a traditional business plan. Simplify or expand this outline to create the foundation for a business plan that fits your business needs.
Simple Business Planning Template with Timeline
Download Simple Business Planning Template with Timeline
Excel | Smartsheet
This template doubles as a project plan and timeline to track progress as you develop your business plan. This business planning template enables you to break down your work into phases and provides room to add key tasks and dates for each activity. Easily fill in the cells according to the start and end dates to create a visual timeline, as well as to ensure your plan stays on track.
Simple Business Plan Rubric Template
Download Simple Business Plan Rubric
Excel | Word | PDF | Smartsheet
Once you complete your business plan, use this business plan rubric template to assess and score each component of your plan. This rubric helps you identify elements of your plan that meet or exceed requirements and pinpoint areas where you need to improve or further elaborate. This template is an invaluable tool to ensure your business plan clearly defines your goals, objectives, and plan of action in order to gain buy-in from potential investors, stakeholders, and partners.
Basic Business Plan Sample
Download Basic Business Plan Sample
This business plan sample serves as an example of a basic business plan that contains all the traditional components. The sample provides a model of what a business plan might look like for a fictional food truck business. Reference this sample as you develop your own business plan.
For additional resources to help support your business planning efforts, check out “ Free Strategic Planning Templates .”
Main Components of a Business Plan
The elements you include in your business plan will depend on your product or service offerings, as well as the size and needs of your business.
Below are the components of a standard business plan and details you should include in each section:
- Company name and contact information
- Website address
- The name of the company or individual viewing the presentation
- Table of Contents
- Company background and purpose
- Mission and vision statement
- Management team introduction
- Core product and service offerings
- Target customers and segments
- Marketing plan
- Competitive analysis
- Unique value proposition
- Financial plan (and requirements, if applicable)
- Business and industry overview
- Historical timeline of your business
- Offerings and the problem they solve
- Current alternatives
- Competitive advantage
- Market size
- Target market segment(s)
- Projected volume and value of sales compared to competitors
- Differentiation from competitors
- Pricing strategy
- Marketing channels
- Promotional plan
- Distribution methods
- Legal structure of your business
- Names of founders, owners, advisors, etc.
- Management team’s roles, relevant experience, and compensation plan
- Staffing requirements and training plans
- Physical location(s) of your business
- Additional physical requirements (e.g., warehouse, specialized equipment, facilities, etc.)
- Production workflow
- Raw materials and sourcing methods
- Projected income statement
- Projected cash flow statement
- Projected balance sheet
- Break-even analysis
- Charts and graphs
- Market research and competitive analysis
- Information about your industry
- Information about your offerings
- Samples of marketing materials
- Other supporting materials
Tips for Creating a Business Plan
It’s easy to feel overwhelmed at the thought of putting together a business plan. Below, you’ll find top tips to help simplify the process as you develop your own plan.
- Use a business plan template (you can choose from the variety above), or refer to the previous section to create a standard outline for your plan.
- Modify your outline to reflect the requirements of your specific business. If you use a standard business plan outline, remove sections that aren’t relevant to you or aren’t necessary to run your business.
- Gather all the information you currently have about your business first, and then use that information to fill out each section in your plan outline.
- Use your resources and conduct additional research to fill in the remaining gaps. (Note: It isn’t necessary to fill out your plan in order, but the executive summary needs to be completed last, as it summarizes the key points in your plan.)
- Ensure your plan clearly communicates the relationship between your marketing, sales, and financial objectives.
- Provide details in your plan that illustrate your strategic plan of action, looking forward three to five years.
- Revisit your plan regularly as strategies and objectives evolve.
- What product or service are we offering?
- Who is the product or service for?
- What problem does our product or service offering solve?
- How will we get the product or service to our target customers?
- Why is our product or service better than the alternatives?
- How can we outperform our competitors?
- What is our unique value proposition?
- When will things get done, and who is responsible for doing them?
- If you need to obtain funding, how will you use the funding?
- When are payments due, and when do payments come in?
- What is the ultimate purpose of your business?
- When do you expect to be profitable?
To identify which type of business plan you should write, and for more helpful tips, take a look at our guide to writing a simple business plan .
Benefits of Using a Business Plan Template
Creating a business plan can be very time-consuming, especially if you aren’t sure where to begin. Finding the right template for your business needs can be beneficial for a variety of reasons.
Using a business plan template — instead of creating your plan from scratch — can benefit you in the following ways:
- Enables you to immediately write down your thoughts and ideas in an organized manner
- Provides structure to help outline your plan
- Saves time and valuable resources
- Helps ensure you don’t miss essential details
Limitations of a Business Plan Template
A business plan template can be convenient, but it has its drawbacks — especially if you use a template that doesn’t fit the specific needs of your business.
Below are some limitations of using a business plan template:
- Each business is unique and needs a business plan that reflects that. A template may not fit your needs.
- A template may restrict collaboration with other team members on different aspects of the plan’s development (sales, marketing, and accounting teams).
- Multiple files containing different versions of the plan may be stored in more than one place.
- You still have to manually create charts and graphs to add to the plan to support your strategy.
- Updates to the plan, spreadsheets, and supporting documents have to be made in multiple places (all documents may not update in real time as changes are made).
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BUSINESS PLAN _________________________________ ____________________ March 5, 2023
Executive Summary
The Ownership The Company will be structured as a sole proprietorship.
The Management The Company will be managed by a hired manager.
The Product
Pricing Strategy The Company will make use of an economy pricing strategy.
Business Plan - _________________________________
The Company
Business Sector The Owner would like to start a business in the following industry: retail sector.
Company Ownership Structure The Company will be structured as a sole proprietorship.
Ownership Background
- Owner: ____________________ Experience and training:
Company Management Structure The Company will be managed by a hired manager.
The Product
Pricing The Company will make use of an economy pricing strategy.
Last Updated December 13, 2022
- What is a Business Plan?
A Business Plan is a fundamental document that every entrepreneur should use to outline their business’s goals and plans to achieve them . It also contains several other aspects of a business’s future agenda and can serve as an internal decision-making tool. A Business Plan is a convenient document for executives to reference, so everyone is on the same strategic page.
In addition to being an internal document, it's also an external document. Using a Business Plan to pitch business proposals to potential investors is a great way to present yourself as credible. In many cases, a Business Plan is considered a prerequisite for banks and investors to provide capital to a new business.
Think of a Business Plan as a self-made guide for managing, operating, and structuring your company.
A Business Plan is also known as a:
- Business Proposal
- Marketing Plan
- Business Strategy
Marketing Strategy
For a more succinct version of our Business Plan, please use our One Page Business Plan Template .
- Who needs a Business Plan?
Anyone with a new or existing business should have a Business Plan to map out their company's goals and strategies. Sole proprietors, general partners, limited liability company (LLC) members, and even corporations will find a Business Plan useful.
- When should I use a Business Plan?
A Business Plan is essentially a planning and educational tool. You can use it when you need to build the framework for your new or existing enterprise and set goals for your business. For example, you can use it when launching a company , transitioning from freelancing to owning a small business, or improving your current business.
A Business Plan can also be used to help secure funding from investors. You can use your Business Plan as a way to present your ideas, sales projections, and plans for achieving your objectives.
- What does a Business Plan include?
A Business Plan considers nearly every aspect of a company and how each decision might affect those aspects. Take some time to think about these eight essential factors before drafting your Business Plan:
Business Description and Mission Statement
Summarize your business's history, ownership, and mission or vision statement. Outline how your business resolves problems for its customers. If possible, specify the businesses and consumers you expect to serve. Don't be afraid to boast about what gives you a competitive advantage.
Competitors Analysis
Describe your competition and how you plan to compete against their current strategies. Try to imagine what's in their Business Plan.
Summarize your company with an overview of your company's management structure, a description of your product or service, your goals, and a summary of your finances and marketing strategy.
Financial Plan
Your financial plan may include your company's income (profit and loss) statements. It can also encompass your capital requirements if you pitch your ideas to investors. In that case, you may describe the investment amount you require and how you plan to repay this capital in a repayment plan.
Your marketing strategy is how you plan to get your product or service in front of customers. This section of the business plan is where you can include your ideas for promotions (online or traditional methods), as well as how you physically plan to sell your product or service (brick-and-mortar, e-commerce, etc.).
Operations Overview
An operations overview provides a glimpse into your business's daily operations, including the management and staffing structure, human resources plan, your physical operational facility, and your production methods, such as quotas or manufacturing details.
Product or Service Details
Break down what your product or service is, its unique features, any patents you may have , and any future products you want to develop. Think about how your product or service benefits your target customer.
SWOT stands for "Strengths, Weaknesses, Opportunities, Threats." A SWOT analysis evaluates these specific aspects of your business.
- How long should a Business Plan be?
There isn't a catch-all answer to this question. The length of your Business Plan depends on how many factors you want to consider and how you intend to use your plan . It can be as straightforward or as comprehensive as you'd like.
The more you put into it, the more your business may get from it because there’s a clear strategy for you to follow.
Suppose you intend to use your plan as a business proposal to enlist investor funding. In that case, it is recommended that you have a more detailed plan.
- How do I write a Business Plan?
LawDepot's online Business Plan template allows you to customize a document specifically to your business's needs and guides you through the process.
Use complete sentences when you’re completing LawDepot’s Business Plan questionnaire. Your answers will be inserted directly into your document.
1. State the industry your business operates in
Start your Business Plan by stating in which industry your company is operating.
Your choices include:
- Arts, entertainment, and recreation
- Construction
- Farming and agriculture
- Finance and insurance
- Food and accommodation
- Information technology
- Manufacturing
- Professional services
- Real estate
- Wholesale trade
If your business is in an industry not listed above, select Other and manually tell us the type of industry.
2. Provide company details
Next, state whether this Business Plan is for a new or existing company. Your choice will affect the wording of your document. Be sure to include other basic information like the business' name, address, city, state, and ZIP Code.
Company background
Some entrepreneurs like to include the company's background in their Business Plan. Although it isn't always necessary, it can be valuable information for potential investors during a pitch meeting.
Include how long your company has been operating and how it's grown since the beginning. Also, describe any evolutions to your product or service. If your company is a startup, feel free to say what inspired you to start the company.
Company forecast
A company forecast is one of the most essential parts of your Business Plan because it lays out your goals and how you plan to achieve them.
Describe what you think your company can reasonably accomplish in the short term (12 months) and long term (five years). Include sales forecasts and market share growth.
Next, describe your plans for reaching those accomplishments. Include strategies for securing funding, hiring employees, and producing new products and services.
3. Outline the company’s structure
Use your Business Plan to outline details about the company’s structure, ownership, management, and assets.
Type of company
There are multiple types of company structures you can choose for your business. The one you ultimately select will come down to the size and goals of your company and how you want it to operate at the top:
- Sole proprietorship : A single individual is fully and personally responsible for all the debts and obligations of the company.
- Partnership : Two or more people share in the profits and losses of the company.
- Corporation : The company itself is a legal entity with the same rights and obligations as a real person. Shareholders have limited liability for any of the company's losses or obligations.
- Limited Liability Company (LLC) : A business entity that enjoys the attractive features of both a partnership and a corporation. It is similar to a corporation because the individual member's liability exposure is limited to what each member has invested in the business. In addition, an LLC can be structured to be taxed only at one level, similar to a partnership.
State who is in charge and how your company makes decisions in your Business Plan.
In small companies, the owner and manager are often (but not always) the same person. However, large company owners are more likely to delegate day-to-day responsibilities to a hired manager who specializes in a company's products or services.
Company assets
Using complete sentences, describe your company’s assets.
Consider whether the company owns or leases any land, buildings, or manufacturing equipment. The company may also own fixtures and fittings, inventory or stock-in-trade, cars, trucks, or other commercial vehicles. Provide an approximate resale value of each asset.
4. Describe your products or services
Describe your products or services and what they do for the customer. For example, if you own a restaurant, explain what makes your menu special. If you're selling a product, detail what makes it better than the competition.
Also, include any trademarks, patents, or licenses you possess in your Business Plan.
If your company already has plans for new or improved products, potential investors will likely want to hear about them too.
5. Detail your marketing strategy
Every company needs a marketing strategy. The more detailed your plan is, the better your chances are of reaching your target audience and hitting your goals.
Your target market is the group of customers you're trying to sell your products or services to. The marketing strategy should be designed to make your company as appealing and accessible as possible to this group.
Use your Business Plan to describe who you want your customers to be. Consider their age, location, and income. Your customer also doesn't need to be a single person. Perhaps it's other businesses.
If you already have established customers and are creating a new Business Plan, include a description of them.
The price of your products or services will play a large part in who your customers are and how people will perceive the quality of your business.
If you're selling luxury items, your prices will be higher than if you're selling items to a broader range of people. You also need to consider what kind of profits you want to make and what's possible in your industry.
Advertising
Advertising is how you'll reach your target customers. It's also an opportunity to establish your company's brand. Think about how you plan to advertise (e.g., radio, television, newspaper, storefront, social media) and how your customers will find you. Make sure to keep your budget in mind as well.
Competitors
Having a finger on your competition's pulse goes a long way towards creating an effective marketing strategy for your company. It lets you know what they're doing right and how you can match or exceed them, what they’re doing to steal your customers, and the standard you need to rise above to be more successful.
Describe who your competition is and which one is the biggest competitor. If possible, also include their market share and annual revenue.
6. Provide a SWOT analysis
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
A SWOT analysis is a planning method entrepreneurs use to identify and quantify the critical issues in a prospective business. The purpose is to aid in predicting viability and to help bring strategic focus. By objectively identifying yourself among your competitors, you can position your company to compete successfully in your market.
Common strengths to describe in your Business Plan include:
- Unique technology or products
- Patents or licenses in your possession
- The location of your business
- The expertise of owners or management
- The quality of your products or services
Common weaknesses to describe in your Business Plan include:
- Risks of development or production delays
- Products are quickly becoming outdated
- Production technology is quickly becoming outdated
- Higher costs than your competitors
- A lack of marketing expertise
- High staff turnover
- Poor business location
- Weak or damaged reputation
Opportunities
Common opportunities to describe in your Business Plan include:
- An increase in your product’s demand in the future
- Expanding your market share
- Expanding your product line
- Other marketing channels
Common threats to describe in your Business Plan include:
- New competitors easily entering your market
- Larger competitors undercutting your pricing
- Undependable labor market
- Undependable suppliers
- A risk of being legislated out of business
- New or increased taxes
- Decreased demand in the future
7. Outline operational details
Provide a breakdown of your company’s operations. This can include:
- Day-to-day operations : What a typical day looks like for your business.
- Operational facilities : The facility’s location and size, any required renovations, and when it’s available for use.
- Outside suppliers : Who the suppliers are and their dependability, where they’re located, how many years they’ve been in business, and who your backup suppliers are.
- Staffing requirements : How many skilled laborers, general laborers, and management personnel you need to hire.
8. Summarize financial situation
Summarize your company’s financial situation by explaining your capital requirement and repayment plans, and include an income statement.
Capital requirements
Capital requirements refer to what you need to spend money on and how much money you need to make it happen. Outline how much your company's owners have invested, the amount you need to borrow, and how you'll spend the money.
Repayment plan
Provide a breakdown of your plan for repaying any money you owe. Include how long it will take to repay, the amount of your periodic payments, and the interest rates.
Income statement
An income statement, also called a profit and loss statement, shows how much money your company has made over a specific period. Break down your gains, losses, and expenses in your Business Plan.
Examples of expenses include rent, utilities, insurance, employee salaries, benefits, etc.
- How often should I update my Business Plan?
Your Business Plan should be a working document that you consistently refer to and periodically revise as your situation and goals evolve. Whether this is once a year or every quarter, it's essential to adjust your plan as necessary, so it always reflects your business's current and future direction.
Updating your plan keeps your company and employees focused on the same goals. It may even enliven your business as you hit milestones and work towards achieving new ones.
Related Documents:
- Partnership Agreement : Set the terms of their working relationship between general partners
- LLC Operating Agreement : Map out company rules and the rights and responsibilities of an LLC’s members
- Articles of Incorporation : File this document with the government to form a corporation
- Purchase of Business Agreement : Purchase all assets or shares of a company from an individual or corporate party
Related Articles:
- 15 Best States for Employers in 2023
- Employees vs. Independent Contractors
- Legal Names Versus Trade Names in Business
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Business Plan Template for Small Businesses & Entrepreneurs
Our proven business plan template.
A business plan template is a document that allows you to quickly write a detailed business plan. Among other things, it includes an introduction, executive summary, company description, and marketing plan. Get started writing a business plan today by using our business plan template.
Growthink’s business plan template is the result of 20+ years of research into the business plans that help entrepreneurs and small business owners attract potential investors, raise investment capital, and build successful companies.
Using our traditional business plan format, you will be able to write a proper business plan for your new or growing business.
Next Section: Executive Summary >
BUSINESS PLAN TEMPLATE OUTLINE
- Business Plan Template Home
- 1. Executive Summary
- 2. Company Overview
- 3. Industry Analysis
- 4. Customer Analysis
- 5. Competitive Analysis
- 6. Marketing Plan
- 7. Operations Plan
- 8. Management Team
- 9. Financial Plan
- 10. Appendix
- Business Plan Summary
Writing a Business Plan FAQs
How can i access growthink’s ultimate business plan template.
Download Growthink’s Ultimate Business Plan Template and complete a solid business plan and your financial statements in hours.
How Do You Write a Business Plan in Microsoft Word?
Our startup business plan template includes an outline of each of the 10 key sections to help you write a plan to start a new business, grow your existing business, and/or help you secure funding such as a business loan from the Small Business Administration, local bank, grants, angel investors, venture capitalists, or from other financial institutions.
Unlike our premium version, our free templates do not include all the key sub-sections, the questions that walk you through step-by-step, the professional cover page designs, nor the financial projections template that allows you to create a professional financial plan in minutes.
Click here to learn more about the World’s #1 Best-Selling Business Plan Template.
Where Can I Download a Free Business Plan Template PDF?
Click here to download the pdf version of our basic business plan template.
Our free business plan template pdf allows you to see the key sections to complete in your plan and the key questions that each must answer. The business plan pdf will definitely get you started in the right direction.
We do offer a premium version of our business plan template. Click here to learn more about it. The premium version includes numerous features allowing you to quickly and easily create a professional business plan . Its most touted feature is its financial projections template which allows you to simply enter your estimated sales and growth rates, and it automatically calculates your complete five-year financial projections including income statements, balance sheets, and cash flow statements . Here’s the link to our Ultimate Business Plan Template.
How Do I Write a Simple Business Plan?
A simple business plan might be more appropriate for you if you are merely deciding whether your new business idea is viable or not. However, if you are trying to secure funds for your business, this template would not be appropriate.
Traditional business plans typically include 10 essential elements. However, the following basic business plan format only has 7 sections . You can copy and paste this step-by-step plan template into your favorite word processing software (e.g., Microsoft Word, etc.) and then answer the questions in each section to write your business plan easily.
I. Executive Summary
Company description.
- What type of company are you operating (e.g., a software company, a bakery, etc.)?
- What is the legal structure of your company (e.g., sole proprietorship, limited liability company (LLC), corporation, etc.)?
- What is your mission statement?
- What is the company’s history?
- What is your business model?
Success Factors
- What is it about your company that makes it (or will make it) uniquely qualified to succeed?
- What milestones has your company achieved to demonstrate success?
II. Industry Analysis
Market analysis.
- In what market are you competing (e.g., the fast-food market, the running shoe market)?
- How big is the target market and is that size big enough?
- Are there positive or negative trends affecting the market (e.g., is it growing/shrinking, is government regulation on the horizon that could change the market analysis)?
III. Customer Analysis
Target market.
- Who are your target customers?
- What are their primary needs when choosing a product/service provider such as your company?
IV. Competitive Analysis
Competitive advantage.
- With whom will your company compete and how will your company better serve customer needs than your competitors?
- How else will you “beat” your competition?
V. Marketing Plan
Marketing strategy.
- What key products/services will you offer and what promotional methods (e.g., radio advertising, pay-per-click ads) will you use to attract customers?
Pricing Strategy
- How will you price your products/services?
- What discounts or promotions will you offer?
VI. Management Team
Key members of the team.
- Who is on your management team?
- What experiences, relationships, etc. do they possess that will help your venture succeed?
- Are there key employees that you must hire in the future to improve your company’s odds of success?
- Do you have any business partners that take part in developing the business strategy?
VII. Financial Plan
Financial model.
- What are the main financial implications of your company ?
- How much outside funding (if any) do you need?
- How much revenue can you really generate each year over the next five years?
- Are the profit margins high enough to sustain the company?
Completing this simple template will force you to answer key questions about your company which will help in determining its feasibility and likelihood for success.
For example, in choosing the ideal promotions strategy to attract new clients, you will be able to estimate the cost of acquiring new customers. This will allow you to compare that cost to your estimated customer lifetime value and ensure healthy profit margins are possible (or not).
Likewise , a competitive analysis might alert you to stiffer competition than you imagined and prompt you to opt for a new business idea or creatively come up with ways to outmaneuver competitors.
On a similar note, in completing this free template, you might realize the market size isn’t big enough to support the large, thriving enterprise you’d like to create. Or perhaps market trends are moving away from the problems your company’s products and services solve.
Yet another example of the importance of this exercise is that it forces you to really think about your target customers. The better and more narrowly you can define your target customers, the more cost-effectively you’ll be able to attract them and the more successful you can be in developing a value proposition that appeals to them.
In any case, completing this simple template allows you to better understand your venture and what it will take to make it successful.
Looking for a lean business plan? Learn more about the lean business planning process .
Looking for a one-page business plan? Learn more and download our free one-page business plan template.
What are Examples of a Business Plan?
It can be helpful to review sample business plans before starting your own business planning process. Below, you will find 4 sample business plans for inspiration.
Remember, the most important part of your plan is to explain why your company is uniquely qualified to succeed, so resist the urge to copy a sample plan completely.
We have over 200 business plan examples and free business plan templates available for you to develop a well-researched business plan.
How Do I Write a Startup Business Plan?
A startup business plan is nearly identical to writing a business plan for an established business. The main difference between a startup business plan and a plan for an existing company is that established businesses should focus more on discussing past accomplishments and rely on historical data in their financial forecasts. In a startup business plan, the company needs to spend more time validating future forecasts since there’s no hard data on which to base them.
Learn the step-by-step writing process for how to write a comprehensive business plan .
Can Anyone Write a Business Plan?
While anyone can write a successful business plan following a traditional business plan template, it’s important to remember that the most important part of your plan is to explain why your company is uniquely qualified to succeed. This is why it’s important to do your market research to have a clear understanding of your industry, target markets, and competitive landscape.
If you have a complex business or need help writing a professional plan, it can be helpful to use business plan software , hire an expert business plan consulting firm, or a business plan writer. The experience of a consultant can help you develop a thorough and achievable business plan for you to secure funding and/or grow your business.
Learn more about Growthink’s expert business plan consultants and how we can help you develop a winning business plan.
How Can I Get a Printable Business Plan Template?
A business plan is a very important document for any business. It helps you to outline your goals and business objectives, as well as how you plan to achieve them. If you’re looking for a printable business plan template, there are a few different options available to you.
One option is to download a free business plan template . Be aware that free business plan templates are often generic for any type of business, so you may need to do some additional editing before using them.
Another option is to purchase a template from a business planning company. This type of printable business plan template is of higher quality and includes a range of features that can help you to create a professional-looking business plan and financial model including the income statement, balance sheet, and cash flow statements.
Ultimately, the best option for you will depend on your needs and budget. If you’re looking for a high-quality, printable business plan template that is easy to edit, then a purchased template is the best option. If you’re on a tight budget or you don’t need a lot of features, then a free business plan template may be a better choice. Whichever option you choose, make sure to take the time to customize the template to fit your specific business.
Is a Business Plan Required For Funding?
Yes, a business plan is nearly always required when seeking financing. Business plans fall into three common categories: those used for funding, those used for strategy, and those used for both fundraising and strategy.
Regardless of their business model, many business owners use their plans to raise bank loans to grow. The funding allows them to acquire additional business resources and improve their financial health. New business owners often seek bank loans as well as funding from angel investors and/or friends and family. Importantly, regardless of the source of funding you desire, you must make your business plan stand out from the others by showing compelling reasons why you will be successful.
What are the 10 Key Elements of a Business Plan?
- Executive Summary : The Executive Summary provides a synopsis of your business plan, including your company’s mission statement and description of its products and services.
- Company Overview : This business plan section provides an overview of your business. It describes your products and services and explains your business’ unique qualifications to serve its target markets.
- Industry Analysis : This section includes information about the market in which your company will be competing, including market research, data on target market segments, and industry trends.
- Customer Analysis : This section assesses your customer segment(s). It should identify your target customer, convey the needs of these customers and show how your products and services will meet those needs.
- Competitive Analysis : This part of your plan must identify your direct and indirect competitors, assess their strengths and weaknesses, and show your company’s competitive advantages.
- Marketing Plan : The marketing plan details your sales strategy and marketing efforts for penetrating your target markets.
- Operations Plan : This section details the internal strategies for building your business. It outlines staffing needs, milestones, and processes.
- Management Team : Your management team section should demonstrate that your company has the required personnel, investors, advisors, and shareholders to be successful.
- Financial Plan : Your financial plan should include your 5-year projected business financials including your proforma income statement, balance sheet, and cash flow statement to clearly illustrate your company’s revenue and profitability model.
- Appendix : The appendix supports your overall business plan and should include your full financial projections along with any supporting documents that make your plan more compelling (i.e., intellectual property documentation, financial statements, management team resumes, etc.)
Other Helpful Business Planning Articles & Templates
Business Plan Template for Small Businesses, Startups, and Entrepreneurs
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- Instructions included More than just a template, you’ll learn how to write a winning business plan
- SBA-lender approved format Your plan will be in the format lenders and investors expect
- Fill-in-the-blanks simplicity You don’t need to be an expert, this template makes business planning easy
- 100% free We’re here to help you succeed in business, no strings attached
Start your business plan today
Why you need a business plan.
- Develop a strategy for success
- Reduce the risk of starting a business
- Explore new business ideas
- Attract investors and get funding
Why you should start with a business plan template
- Helps organize your thoughts.
- Provides guidance, instructions, and examples so that you’re not stuck looking at a blank page.
- Gives you an investor-ready and SBA-approved business plan format.
- Speeds up the planning process.
- Oh, and it’s 100% free!
What is included in this business plan template?
- Company Purpose
- Problem We Solve
- Our Solution
- Target Customers
- Financial Summary
- Funding Needed
- Competition
- Intellectual Property/Patents
- Milestones/Roadmap
- Target Market
- Market Trends
- Industry Analysis
- Key Customers
- Sales Channels
- Marketing Activities
- Pricing Strategy
- Positioning
- SWOT Analysis
- Company Structure
- Management Team
- Projected Profit & Loss
- Projected Balance Sheet
- Projected Cash Flow Statement
- Use of Funds
- Exit Strategy
- Additional Documentation
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Learn how to write a business plan quickly and efficiently with a business plan ... or if you're a sole proprietor or limited liability company (LLC).
Our cottage baker example might use a structure and startup plan such as this: Business structure: Sole proprietorship with a “doing business as
Using a business plan template is the easiest way to write a business plan. Grab our template (plus business plan examples) to optimize your
Download one of our free business plan templates and take your company to the ... If you're a sole proprietor, a business plan template designed for a big
However, if you are looking to start a simple product or service business as a sole proprietor or one-person corporation you don't need a 50-
If the business is a sole proprietorship, this is the only section required. Management team: Describe managers and their roles, key employee
Choose from a variety of free business plan templates in PDF, Word, and Excel formats, as well as a business plan sample and outline to get
Plan and present your business ideas with our free and easy Business ... Sole proprietorship: A single individual is fully and personally
First, click here to download our free simple business plan template for use in ... What is the legal structure of your company (e.g., sole proprietorship
This simple, modern, investor-approved business plan template is designed to make planning easy. It's a proven format that has helped over 1 million