samples of small business plan

Small Business Trends

How to create a business plan: examples & free template.

This is the ultimate guide to creating a comprehensive and effective plan to start a business . In today’s dynamic business landscape, having a well-crafted business plan is an important first step to securing funding, attracting partners, and navigating the challenges of entrepreneurship.

This guide has been designed to help you create a winning plan that stands out in the ever-evolving marketplace. U sing real-world examples and a free downloadable template, it will walk you through each step of the process.

Whether you’re a seasoned entrepreneur or launching your very first startup, the guide will give you the insights, tools, and confidence you need to create a solid foundation for your business.

Table of Contents

How to Write a Business Plan

Embarking on the journey of creating a successful business requires a solid foundation, and a well-crafted business plan is the cornerstone. Here is the process of writing a comprehensive business plan and the main parts of a winning business plan . From setting objectives to conducting market research, this guide will have everything you need.

Executive Summary

The Executive Summary serves as the gateway to your business plan, offering a snapshot of your venture’s core aspects. This section should captivate and inform, succinctly summarizing the essence of your plan.

It’s crucial to include a clear mission statement, a brief description of your primary products or services, an overview of your target market, and key financial projections or achievements.

Think of it as an elevator pitch in written form: it should be compelling enough to engage potential investors or stakeholders and provide them with a clear understanding of what your business is about, its goals, and why it’s a promising investment.

Example: EcoTech is a technology company specializing in eco-friendly and sustainable products designed to reduce energy consumption and minimize waste. Our mission is to create innovative solutions that contribute to a cleaner, greener environment.

Our target market includes environmentally conscious consumers and businesses seeking to reduce their carbon footprint. We project a 200% increase in revenue within the first three years of operation.

Overview and Business Objectives

In the Overview and Business Objectives section, outline your business’s core goals and the strategic approaches you plan to use to achieve them. This section should set forth clear, specific objectives that are attainable and time-bound, providing a roadmap for your business’s growth and success.

It’s important to detail how these objectives align with your company’s overall mission and vision. Discuss the milestones you aim to achieve and the timeframe you’ve set for these accomplishments.

This part of the plan demonstrates to investors and stakeholders your vision for growth and the practical steps you’ll take to get there.

Example: EcoTech’s primary objective is to become a market leader in sustainable technology products within the next five years. Our key objectives include:

• Introducing three new products within the first two years of operation.
• Achieving annual revenue growth of 30%.
• Expanding our customer base to over 10,000 clients by the end of the third year.

Company Description

The Company Description section is your opportunity to delve into the details of your business. Provide a comprehensive overview that includes your company’s history, its mission statement, and its vision for the future.

Highlight your unique selling proposition (USP) – what makes your business stand out in the market. Explain the problems your company solves and how it benefits your customers.

Include information about the company’s founders, their expertise, and why they are suited to lead the business to success. This section should paint a vivid picture of your business, its values, and its place in the industry.

Example: EcoTech is committed to developing cutting-edge sustainable technology products that benefit both the environment and our customers. Our unique combination of innovative solutions and eco-friendly design sets us apart from the competition. We envision a future where technology and sustainability go hand in hand, leading to a greener planet.

Define Your Target Market

Defining Your Target Market is critical for tailoring your business strategy effectively. This section should describe your ideal customer base in detail, including demographic information (such as age, gender, income level, and location) and psychographic data (like interests, values, and lifestyle).

Elucidate on the specific needs or pain points of your target audience and how your product or service addresses these. This information will help you know your target market and develop targeted marketing strategies.

Example: Our target market comprises environmentally conscious consumers and businesses looking for innovative solutions to reduce their carbon footprint. Our ideal customers are those who prioritize sustainability and are willing to invest in eco-friendly products.

Market Analysis

The Market Analysis section requires thorough research and a keen understanding of the industry. It involves examining the current trends within your industry, understanding the needs and preferences of your customers, and analyzing the strengths and weaknesses of your competitors.

This analysis will enable you to spot market opportunities and anticipate potential challenges. Include data and statistics to back up your claims, and use graphs or charts to illustrate market trends.

This section should demonstrate that you have a deep understanding of the market in which you operate and that your business is well-positioned to capitalize on its opportunities.

Example: The market for eco-friendly technology products has experienced significant growth in recent years, with an estimated annual growth rate of 10%. As consumers become increasingly aware of environmental issues, the demand for sustainable solutions continues to rise.

Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.

SWOT Analysis

A SWOT analysis in your business plan offers a comprehensive examination of your company’s internal and external factors. By assessing Strengths, you showcase what your business does best and where your capabilities lie.

Weaknesses involve an honest introspection of areas where your business may be lacking or could improve. Opportunities can be external factors that your business could capitalize on, such as market gaps or emerging trends.

Threats include external challenges your business may face, like competition or market changes. This analysis is crucial for strategic planning, as it helps in recognizing and leveraging your strengths, addressing weaknesses, seizing opportunities, and preparing for potential threats.

Including a SWOT analysis demonstrates to stakeholders that you have a balanced and realistic understanding of your business in its operational context.

• Innovative and eco-friendly product offerings.
• Strong commitment to sustainability and environmental responsibility.
• Skilled and experienced team with expertise in technology and sustainability.

Weaknesses:

• Limited brand recognition compared to established competitors.
• Reliance on third-party manufacturers for product development.

Opportunities:

• Growing consumer interest in sustainable products.
• Partnerships with environmentally-focused organizations and influencers.
• Expansion into international markets.
• Intense competition from established technology companies.
• Regulatory changes could impact the sustainable technology market.

Competitive Analysis

In this section, you’ll analyze your competitors in-depth, examining their products, services, market positioning, and pricing strategies. Understanding your competition allows you to identify gaps in the market and tailor your offerings to outperform them.

By conducting a thorough competitive analysis, you can gain insights into your competitors’ strengths and weaknesses, enabling you to develop strategies to differentiate your business and gain a competitive advantage in the marketplace.

Example: Key competitors include:

GreenTech: A well-known brand offering eco-friendly technology products, but with a narrower focus on energy-saving devices.

EarthSolutions: A direct competitor specializing in sustainable technology, but with a limited product range and higher prices.

By offering a diverse product portfolio, competitive pricing, and continuous innovation, we believe we can capture a significant share of the growing sustainable technology market.

Organization and Management Team

Provide an overview of your company’s organizational structure, including key roles and responsibilities. Introduce your management team, highlighting their expertise and experience to demonstrate that your team is capable of executing the business plan successfully.

Showcasing your team’s background, skills, and accomplishments instills confidence in investors and other stakeholders, proving that your business has the leadership and talent necessary to achieve its objectives and manage growth effectively.

Example: EcoTech’s organizational structure comprises the following key roles: CEO, CTO, CFO, Sales Director, Marketing Director, and R&D Manager. Our management team has extensive experience in technology, sustainability, and business development, ensuring that we are well-equipped to execute our business plan successfully.

Products and Services Offered

Describe the products or services your business offers, focusing on their unique features and benefits. Explain how your offerings solve customer pain points and why they will choose your products or services over the competition.

This section should emphasize the value you provide to customers, demonstrating that your business has a deep understanding of customer needs and is well-positioned to deliver innovative solutions that address those needs and set your company apart from competitors.

Example: EcoTech offers a range of eco-friendly technology products, including energy-efficient lighting solutions, solar chargers, and smart home devices that optimize energy usage. Our products are designed to help customers reduce energy consumption, minimize waste, and contribute to a cleaner environment.

Marketing and Sales Strategy

In this section, articulate your comprehensive strategy for reaching your target market and driving sales. Detail the specific marketing channels you plan to use, such as social media, email marketing, SEO, or traditional advertising.

Describe the nature of your advertising campaigns and promotional activities, explaining how they will capture the attention of your target audience and convey the value of your products or services. Outline your sales strategy, including your sales process, team structure, and sales targets.

Discuss how these marketing and sales efforts will work together to attract and retain customers, generate leads, and ultimately contribute to achieving your business’s revenue goals.

This section is critical to convey to investors and stakeholders that you have a well-thought-out approach to market your business effectively and drive sales growth.

Example: Our marketing strategy includes digital advertising, content marketing, social media promotion, and influencer partnerships. We will also attend trade shows and conferences to showcase our products and connect with potential clients. Our sales strategy involves both direct sales and partnerships with retail stores, as well as online sales through our website and e-commerce platforms.

Logistics and Operations Plan

The Logistics and Operations Plan is a critical component that outlines the inner workings of your business. It encompasses the management of your supply chain, detailing how you acquire raw materials and manage vendor relationships.

Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.

Quality control measures are essential to maintain product standards and customer satisfaction. This plan assures investors and stakeholders of your operational competency and readiness to meet business demands.

Highlighting your commitment to operational efficiency and customer satisfaction underlines your business’s capability to maintain smooth, effective operations even as it scales.

Example: EcoTech partners with reliable third-party manufacturers to produce our eco-friendly technology products. Our operations involve maintaining strong relationships with suppliers, ensuring quality control, and managing inventory.

We also prioritize efficient distribution through various channels, including online platforms and retail partners, to deliver products to our customers in a timely manner.

Financial Projections Plan

In the Financial Projections Plan, lay out a clear and realistic financial future for your business. This should include detailed projections for revenue, costs, and profitability over the next three to five years.

Ground these projections in solid assumptions based on your market analysis, industry benchmarks, and realistic growth scenarios. Break down revenue streams and include an analysis of the cost of goods sold, operating expenses, and potential investments.

This section should also discuss your break-even analysis, cash flow projections, and any assumptions about external funding requirements.

By presenting a thorough and data-backed financial forecast, you instill confidence in potential investors and lenders, showcasing your business’s potential for profitability and financial stability.

This forward-looking financial plan is crucial for demonstrating that you have a firm grasp of the financial nuances of your business and are prepared to manage its financial health effectively.

Example: Over the next three years, we expect to see significant growth in revenue, driven by new product launches and market expansion. Our financial projections include:

• Year 1: $1.5 million in revenue, with a net profit of $200,000.
• Year 2: $3 million in revenue, with a net profit of $500,000.
• Year 3: $4.5 million in revenue, with a net profit of $1 million.

These projections are based on realistic market analysis, growth rates, and product pricing.

Income Statement

The income statement , also known as the profit and loss statement, provides a summary of your company’s revenues and expenses over a specified period. It helps you track your business’s financial performance and identify trends, ensuring you stay on track to achieve your financial goals.

Regularly reviewing and analyzing your income statement allows you to monitor the health of your business, evaluate the effectiveness of your strategies, and make data-driven decisions to optimize profitability and growth.

Example: The income statement for EcoTech’s first year of operation is as follows:

• Revenue: $1,500,000
• Cost of Goods Sold: $800,000
• Gross Profit: $700,000
• Operating Expenses: $450,000
• Net Income: $250,000

This statement highlights our company’s profitability and overall financial health during the first year of operation.

Cash Flow Statement

A cash flow statement is a crucial part of a financial business plan that shows the inflows and outflows of cash within your business. It helps you monitor your company’s liquidity, ensuring you have enough cash on hand to cover operating expenses, pay debts, and invest in growth opportunities.

By including a cash flow statement in your business plan, you demonstrate your ability to manage your company’s finances effectively.

Example:  The cash flow statement for EcoTech’s first year of operation is as follows:

Operating Activities:

• Depreciation: $10,000
• Changes in Working Capital: -$50,000
• Net Cash from Operating Activities: $210,000

Investing Activities:

•  Capital Expenditures: -$100,000
• Net Cash from Investing Activities: -$100,000

Financing Activities:

• Proceeds from Loans: $150,000
• Loan Repayments: -$50,000
• Net Cash from Financing Activities: $100,000
• Net Increase in Cash: $210,000

This statement demonstrates EcoTech’s ability to generate positive cash flow from operations, maintain sufficient liquidity, and invest in growth opportunities.

Tips on Writing a Business Plan

1. Be clear and concise: Keep your language simple and straightforward. Avoid jargon and overly technical terms. A clear and concise business plan is easier for investors and stakeholders to understand and demonstrates your ability to communicate effectively.

2. Conduct thorough research: Before writing your business plan, gather as much information as possible about your industry, competitors, and target market. Use reliable sources and industry reports to inform your analysis and make data-driven decisions.

3. Set realistic goals: Your business plan should outline achievable objectives that are specific, measurable, attainable, relevant, and time-bound (SMART). Setting realistic goals demonstrates your understanding of the market and increases the likelihood of success.

4. Focus on your unique selling proposition (USP): Clearly articulate what sets your business apart from the competition. Emphasize your USP throughout your business plan to showcase your company’s value and potential for success.

5. Be flexible and adaptable: A business plan is a living document that should evolve as your business grows and changes. Be prepared to update and revise your plan as you gather new information and learn from your experiences.

6. Use visuals to enhance understanding: Include charts, graphs, and other visuals to help convey complex data and ideas. Visuals can make your business plan more engaging and easier to digest, especially for those who prefer visual learning.

7. Seek feedback from trusted sources: Share your business plan with mentors, industry experts, or colleagues and ask for their feedback. Their insights can help you identify areas for improvement and strengthen your plan before presenting it to potential investors or partners.

FREE Business Plan Template

To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.

The template is divided into the following sections:

• Mission statement
• Business Overview
• Key products or services
• Target market
• Financial highlights
• Company goals
• Strategies to achieve goals
• Measurable, time-bound objectives
• Company History
• Mission and vision
• Unique selling proposition
• Demographics
• Psychographics
• Pain points
• Industry trends
• Customer needs
• Competitor strengths and weaknesses
• Opportunities
• Competitor products and services
• Market positioning
• Pricing strategies
• Organizational structure
• Key roles and responsibilities
• Management team backgrounds
• Product or service features
• Competitive advantages
• Marketing channels
• Advertising campaigns
• Promotional activities
• Sales strategies
• Supply chain management
• Inventory control
• Production processes
• Quality control measures
• Projected revenue
• Assumptions
• Cash inflows
• Cash outflows
• Net cash flow

What is a Business Plan?

A business plan is a strategic document that outlines an organization’s goals, objectives, and the steps required to achieve them. It serves as a roadmap as you start a business , guiding the company’s direction and growth while identifying potential obstacles and opportunities.

Typically, a business plan covers areas such as market analysis, financial projections, marketing strategies, and organizational structure. It not only helps in securing funding from investors and lenders but also provides clarity and focus to the management team.

A well-crafted business plan is a very important part of your business startup checklist because it fosters informed decision-making and long-term success.

Why You Should Write a Business Plan

Understanding the importance of a business plan in today’s competitive environment is crucial for entrepreneurs and business owners. Here are five compelling reasons to write a business plan:

• Attract Investors and Secure Funding : A well-written business plan demonstrates your venture’s potential and profitability, making it easier to attract investors and secure the necessary funding for growth and development. It provides a detailed overview of your business model, target market, financial projections, and growth strategies, instilling confidence in potential investors and lenders that your company is a worthy investment.
• Clarify Business Objectives and Strategies : Crafting a business plan forces you to think critically about your goals and the strategies you’ll employ to achieve them, providing a clear roadmap for success. This process helps you refine your vision and prioritize the most critical objectives, ensuring that your efforts are focused on achieving the desired results.
• Identify Potential Risks and Opportunities : Analyzing the market, competition, and industry trends within your business plan helps identify potential risks and uncover untapped opportunities for growth and expansion. This insight enables you to develop proactive strategies to mitigate risks and capitalize on opportunities, positioning your business for long-term success.
• Improve Decision-Making : A business plan serves as a reference point so you can make informed decisions that align with your company’s overall objectives and long-term vision. By consistently referring to your plan and adjusting it as needed, you can ensure that your business remains on track and adapts to changes in the market, industry, or internal operations.
• Foster Team Alignment and Communication : A shared business plan helps ensure that all team members are on the same page, promoting clear communication, collaboration, and a unified approach to achieving the company’s goals. By involving your team in the planning process and regularly reviewing the plan together, you can foster a sense of ownership, commitment, and accountability that drives success.

What are the Different Types of Business Plans?

In today’s fast-paced business world, having a well-structured roadmap is more important than ever. A traditional business plan provides a comprehensive overview of your company’s goals and strategies, helping you make informed decisions and achieve long-term success. There are various types of business plans, each designed to suit different needs and purposes. Let’s explore the main types:

• Startup Business Plan: Tailored for new ventures, a startup business plan outlines the company’s mission, objectives, target market, competition, marketing strategies, and financial projections. It helps entrepreneurs clarify their vision, secure funding from investors, and create a roadmap for their business’s future. Additionally, this plan identifies potential challenges and opportunities, which are crucial for making informed decisions and adapting to changing market conditions.
• Internal Business Plan: This type of plan is intended for internal use, focusing on strategies, milestones, deadlines, and resource allocation. It serves as a management tool for guiding the company’s growth, evaluating its progress, and ensuring that all departments are aligned with the overall vision. The internal business plan also helps identify areas of improvement, fosters collaboration among team members, and provides a reference point for measuring performance.
• Strategic Business Plan: A strategic business plan outlines long-term goals and the steps to achieve them, providing a clear roadmap for the company’s direction. It typically includes a SWOT analysis, market research, and competitive analysis. This plan allows businesses to align their resources with their objectives, anticipate changes in the market, and develop contingency plans. By focusing on the big picture, a strategic business plan fosters long-term success and stability.
• Feasibility Business Plan: This plan is designed to assess the viability of a business idea, examining factors such as market demand, competition, and financial projections. It is often used to decide whether or not to pursue a particular venture. By conducting a thorough feasibility analysis, entrepreneurs can avoid investing time and resources into an unviable business concept. This plan also helps refine the business idea, identify potential obstacles, and determine the necessary resources for success.
• Growth Business Plan: Also known as an expansion plan, a growth business plan focuses on strategies for scaling up an existing business. It includes market analysis, new product or service offerings, and financial projections to support expansion plans. This type of plan is essential for businesses looking to enter new markets, increase their customer base, or launch new products or services. By outlining clear growth strategies, the plan helps ensure that expansion efforts are well-coordinated and sustainable.
• Operational Business Plan: This type of plan outlines the company’s day-to-day operations, detailing the processes, procedures, and organizational structure. It is an essential tool for managing resources, streamlining workflows, and ensuring smooth operations. The operational business plan also helps identify inefficiencies, implement best practices, and establish a strong foundation for future growth. By providing a clear understanding of daily operations, this plan enables businesses to optimize their resources and enhance productivity.
• Lean Business Plan: A lean business plan is a simplified, agile version of a traditional plan, focusing on key elements such as value proposition, customer segments, revenue streams, and cost structure. It is perfect for startups looking for a flexible, adaptable planning approach. The lean business plan allows for rapid iteration and continuous improvement, enabling businesses to pivot and adapt to changing market conditions. This streamlined approach is particularly beneficial for businesses in fast-paced or uncertain industries.
• One-Page Business Plan: As the name suggests, a one-page business plan is a concise summary of your company’s key objectives, strategies, and milestones. It serves as a quick reference guide and is ideal for pitching to potential investors or partners. This plan helps keep teams focused on essential goals and priorities, fosters clear communication, and provides a snapshot of the company’s progress. While not as comprehensive as other plans, a one-page business plan is an effective tool for maintaining clarity and direction.
• Nonprofit Business Plan: Specifically designed for nonprofit organizations, this plan outlines the mission, goals, target audience, fundraising strategies, and budget allocation. It helps secure grants and donations while ensuring the organization stays on track with its objectives. The nonprofit business plan also helps attract volunteers, board members, and community support. By demonstrating the organization’s impact and plans for the future, this plan is essential for maintaining transparency, accountability, and long-term sustainability within the nonprofit sector.
• Franchise Business Plan: For entrepreneurs seeking to open a franchise, this type of plan focuses on the franchisor’s requirements, as well as the franchisee’s goals, strategies, and financial projections. It is crucial for securing a franchise agreement and ensuring the business’s success within the franchise system. This plan outlines the franchisee’s commitment to brand standards, marketing efforts, and operational procedures, while also addressing local market conditions and opportunities. By creating a solid franchise business plan, entrepreneurs can demonstrate their ability to effectively manage and grow their franchise, increasing the likelihood of a successful partnership with the franchisor.

Using Business Plan Software

Creating a comprehensive business plan can be intimidating, but business plan software can streamline the process and help you produce a professional document. These tools offer a number of benefits, including guided step-by-step instructions, financial projections, and industry-specific templates. Here are the top 5 business plan software options available to help you craft a great business plan.

1. LivePlan

LivePlan is a popular choice for its user-friendly interface and comprehensive features. It offers over 500 sample plans, financial forecasting tools, and the ability to track your progress against key performance indicators. With LivePlan, you can create visually appealing, professional business plans that will impress investors and stakeholders.

2. Upmetrics

Upmetrics provides a simple and intuitive platform for creating a well-structured business plan. It features customizable templates, financial forecasting tools, and collaboration capabilities, allowing you to work with team members and advisors. Upmetrics also offers a library of resources to guide you through the business planning process.

Bizplan is designed to simplify the business planning process with a drag-and-drop builder and modular sections. It offers financial forecasting tools, progress tracking, and a visually appealing interface. With Bizplan, you can create a business plan that is both easy to understand and visually engaging.

Enloop is a robust business plan software that automatically generates a tailored plan based on your inputs. It provides industry-specific templates, financial forecasting, and a unique performance score that updates as you make changes to your plan. Enloop also offers a free version, making it accessible for businesses on a budget.

5. Tarkenton GoSmallBiz

Developed by NFL Hall of Famer Fran Tarkenton, GoSmallBiz is tailored for small businesses and startups. It features a guided business plan builder, customizable templates, and financial projection tools. GoSmallBiz also offers additional resources, such as CRM tools and legal document templates, to support your business beyond the planning stage.

Business Plan FAQs

What is a good business plan.

A good business plan is a well-researched, clear, and concise document that outlines a company’s goals, strategies, target market, competitive advantages, and financial projections. It should be adaptable to change and provide a roadmap for achieving success.

What are the 3 main purposes of a business plan?

The three main purposes of a business plan are to guide the company’s strategy, attract investment, and evaluate performance against objectives. Here’s a closer look at each of these:

• It outlines the company’s purpose and core values to ensure that all activities align with its mission and vision.
• It provides an in-depth analysis of the market, including trends, customer needs, and competition, helping the company tailor its products and services to meet market demands.
• It defines the company’s marketing and sales strategies, guiding how the company will attract and retain customers.
• It describes the company’s organizational structure and management team, outlining roles and responsibilities to ensure effective operation and leadership.
• It sets measurable, time-bound objectives, allowing the company to plan its activities effectively and make strategic decisions to achieve these goals.
• It provides a comprehensive overview of the company and its business model, demonstrating its uniqueness and potential for success.
• It presents the company’s financial projections, showing its potential for profitability and return on investment.
• It demonstrates the company’s understanding of the market, including its target customers and competition, convincing investors that the company is capable of gaining a significant market share.
• It showcases the management team’s expertise and experience, instilling confidence in investors that the team is capable of executing the business plan successfully.
• It establishes clear, measurable objectives that serve as performance benchmarks.
• It provides a basis for regular performance reviews, allowing the company to monitor its progress and identify areas for improvement.
• It enables the company to assess the effectiveness of its strategies and make adjustments as needed to achieve its objectives.
• It helps the company identify potential risks and challenges, enabling it to develop contingency plans and manage risks effectively.
• It provides a mechanism for evaluating the company’s financial performance, including revenue, expenses, profitability, and cash flow.

Can I write a business plan by myself?

Yes, you can write a business plan by yourself, but it can be helpful to consult with mentors, colleagues, or industry experts to gather feedback and insights. There are also many creative business plan templates and business plan examples available online, including those above.

We also have examples for specific industries, including a using food truck business plan , salon business plan , farm business plan , daycare business plan , and restaurant business plan .

Is it possible to create a one-page business plan?

Yes, a one-page business plan is a condensed version that highlights the most essential elements, including the company’s mission, target market, unique selling proposition, and financial goals.

How long should a business plan be?

A typical business plan ranges from 20 to 50 pages, but the length may vary depending on the complexity and needs of the business.

What is a business plan outline?

A business plan outline is a structured framework that organizes the content of a business plan into sections, such as the executive summary, company description, market analysis, and financial projections.

What are the 5 most common business plan mistakes?

The five most common business plan mistakes include inadequate research, unrealistic financial projections, lack of focus on the unique selling proposition, poor organization and structure, and failure to update the plan as circumstances change.

What questions should be asked in a business plan?

A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?

What’s the difference between a business plan and a strategic plan?

A business plan focuses on the overall vision, goals, and tactics of a company, while a strategic plan outlines the specific strategies, action steps, and performance measures necessary to achieve the company’s objectives.

How is business planning for a nonprofit different?

Nonprofit business planning focuses on the organization’s mission, social impact, and resource management, rather than profit generation. The financial section typically includes funding sources, expenses, and projected budgets for programs and operations.

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300+ Business Plan Examples

Below you can choose from over 300 free business plan examples within numerous industries. You’ll also learn the answers to key sample business plan questions and find tips on how to write your business plan. Finally, you’ll see a full-length business plan sample. Rest assured that you’re in good hands; over the past 20+ years, Growthink has helped over 1 million companies develop simple business plans to start and grow their businesses.  

Download our Ultimate Business Plan Template here

If you’d like an interactive, fill-in-the-blanks template that also automatically completes your financial projections, we recommend Growthink’s Ultimate Business Plan .

This is particularly true if you’re looking for funding from a bank (traditional loan, line of credit, SBA loan, etc.), angel investors or venture capitalists .

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Answers to Key Sample Business Plan Questions

Shoutmouth business plan example, business plan examples by business category, clothing & fashion business plan templates & samples.

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1. Why is utilizing an example business plan a good idea?

Sample business plans can help you quickly and easily write a business plan for your own business. Business plans are an important tool for any business, but they can be challenging to create. Sample business plan will help you understand business plan format , how to utilize a business plan template , and more.

Business plan examples may even help you with the different sections of a plan, including market analysis, company description, cash flow statements/business financial statements, and more. Business plans can also show you how a quality plan in your exact business plan category is organized and shows you the appropriate business communications style to use when writing your business plan.

2. Who would benefit from using an example business plan?

Any entrepreneur or business owner who has never written a business plan before can benefit from an example or sample plan. New business owners often start with business plan templates , which are helpful but are sometimes more useful after reviewing other full business plans.

A good sample plan can be a step-by-step guide as you work on your business planning and business idea. Once you have a sense for the flow, specs, and details, etc. that business plans have, utilizing a business plan template will help you pull everything together, helping you create a plan investors and other stakeholders will value. A solid plan will also help you if you need a bank loan, which may require a startup business plan.

3. How do you get started with a sample business plan and maximize its benefit?

First you should read the business plan thoroughly. Study both the type of information provided in key sections like the executive summary, target market analysis, summary, etc., as well as the format and style of the plan. As you read, you may find yourself thinking through things such as improving or evaluating your business planning process, your business idea, or reconsidering who you want to write your business plan for. This is OK and part of the process. In fact, when you start writing a business plan for the first time, it will be much easier because you’ve gone through this process.

After this initial read, outline your business plan and copy in from the sample plan sections that apply to your business. For instance, if the sample plan included public relations in their marketing strategy and sales plan, and you will also use this tactic, you can copy it into your plan and edit it as appropriate. Finally, answer the other questions answered in the sample plan in ways that reflect your unique business and potential customers.

Writing a business plan can seem daunting. Starting your business plan writing process by reviewing a plan that’s already been created can remove a lot of mental and emotional barriers while helping you craft the best plan you can.

4. When should you not use a sample business plan?

If your business is unlike any other, using a sample business plan will not be as effective. In this situation, writing a business plan from scratch utilizing a business plan template is probably your best path forward.

As an example, Facebook’s early business plan was unlike others since it was paving a new path and way of doing business. But, groundbreaking new businesses like Facebook are not the norm, and the vast majority of companies will benefit from utilizing sample business plans.

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The business plan example below is for Shoutmouth, a company that enjoyed much success in the early 2000’s and which was able to raise funding. While the plan’s premise (social networking) is not as unique now as it was then, the format and structure of this business plan still holds.

I. Executive Summary

Business Overview

Launched in late February 2007, Shoutmouth.com is the most comprehensive music news website on the Internet .

Music is one of the most searched and accessed interests on the Internet. Top music artists like Akon receive over 3 million searches each month. In addition, over 500 music artists each receive over 25,000 searches a month.

However, music fans are largely unsatisfied when it comes to the news and information they seek on the artists they love. This is because most music websites (e.g., RollingStone.com, MTV.com, Billboard.com, etc.) cover only the top eight to ten music stories each day – the stories with mass appeal. This type of generic coverage does not satisfy the needs of serious music fans. Music fans generally listen to many different artists and genres of music. By publishing over 100 music stories each day, Shoutmouth enables these fans to read news on all their favorite artists.

In addition to publishing comprehensive music news on over 1200 music artists, Shoutmouth is a social network that allows fans to meet and communicate with other fans about music, and allows them to:

• Create personal profiles
• Interact with other members
• Provide comments on news stories and music videos
• Submit news stories and videos
• Recommend new music artists to add to the community
• Receive customized news and email alerts on their favorite artists

Success Factors

Shoutmouth is uniquely qualified to succeed due to the following reasons:

• Entrepreneurial track record : Shoutmouth’s CEO and team have helped launch numerous successful ventures.
• Affiliate marketing track record : Online affiliate marketing expertise has been cited as one of MySpace’s key success factors. Over the past two years, Shoutmouth’s founders have run one of the most successful online affiliate marketing programs, having sold products to over 500,000 music customers online.
• Key milestones completed : Shoutmouth’s founders have invested $500,000 to-date to staff the company (we currently have an 11-person full-time team), build the core technology, and launch the site. We have succeeded in gaining initial customer traction with 50,000 unique visitors in March, 100,000 unique visitors in April, and 200,000 unique visitors in May 2007.

Unique Investment Metrics

The Shoutmouth investment opportunity is very exciting due to the metrics of the business.

To begin, over the past two years, over twenty social networks have been acquired. The value in these networks is their relationships with large numbers of customers, which allow acquirers to effectively sell to this audience.

The sales price of these social networks has ranged from $25 to $137 per member. Shoutmouth has the ability to enroll members at less than $1 each, thus providing an extraordinary return on marketing expenditures. In fact, during an April 2007 test, we were able to sign-up 2,000 members to artist-specific Shoutmouth newsletters at a cost of only 43 cents per member.

While we are building Shoutmouth to last, potential acquirers include many types of companies that seek relationships with music fans such as music media/publishing (e.g., MTV, Rolling Stone), ticketing (e.g., Ticketmaster, LiveNation) and digital music sales firms (e.g., iTunes, The Orchard).

Financial Strategy, Needs and Exit Strategy

While Shoutmouth’s technological, marketing and operational infrastructure has been developed, we currently require $3 million to execute on our marketing and technology plan over the next 24 months until we hit profitability.

Shoutmouth will primarily generate revenues from selling advertising space. As technologies evolve that allow us to seamlessly integrate music sampling and purchasing on our site, sales of downloadable music are also expected to become a significant revenue source. To a lesser extent, we may sell other music-related items such as ringtones, concert tickets, and apparel.

Topline projections over the next three years are as follows:

II. Shoutmouth Overview

What is Shoutmouth?

Shoutmouth is an operating company of The Kisco Group Inc. (TKG). Since 2003, TKG has capitalized on web-based marketing opportunities via launching targeted websites and generating web-based leads. TKG revenues in 2005 exceeded $1.3 million and grew to $3.5 million in 2006. Shoutmouth is currently the sole focus of TKG; all other TKG business units have been divested.

Development of Shoutmouth began in August 2006 and the site officially launched on February 21, 2007. Shoutmouth (located at www.shoutmouth.com) is the most comprehensive music news community on the Internet. The website covers 1,200 popular bands and music artists and offers more than 100 new music articles each day. In addition to providing news, Shoutmouth is a web community. That is, Shoutmouth members can actively participate on the site, by doing things such as commenting on news stories and submitting their own stories.

The Market Size and Need for Shoutmouth

The music market is clearly vast. According to IFPI, which represents the recording industry worldwide, global music sales were $33.5 billion in 2005, with the U.S. accounting for $12.3 billion of that amount. Importantly, digitally music sales are seeing substantial growth, with IFPI reporting sales of $400 million in 2004, $1.1 billion in 2005 and $2 billion in 2006.

Online, music is the one of the most frequently searched and accessed interests. For example, according to Wordtracker, the music artist Eminem received over 1.7 million web searches in December 2006, while band Green Day received 534,000 searches.

To put these figures in perspective, top celebrities in other entertainment fields receive but a fraction of this search volume. For example, December 2006 search volumes for select sports stars and actors were as follows: Kobe Bryant, 122K; Tiger Woods, 88K; Cameron Diaz, 332K; and Tom Cruise, 82K.

Conversely, 225 music artists received over 100,000 searches in December 2006, and over 500 music artists received over 25,000 searches.

This data is corroborated by Nielsen BuzzMetrics which plots the most popular topics bloggers are posting about. The chart to the right plots September 25, 2006 to March 25, 2007 and shows how music dominates other entertainment sectors online.

When searching for music artists online, fans, which are primarily between the ages of 13 and 35, are looking for news, pictures, lyrics, videos and audio files. In addition, fans enjoy publicly voicing their opinions about music and interacting with other fans.

There is currently no website besides Shoutmouth that provides comprehensive music news. Currently, to get the latest news on their favorite artists, fans must visit the official websites or fan websites of each of the artists they like . Even then, it is unlikely that the fan will get all the news that has occurred. To solve this problem, Shoutmouth scours the web and uncovers news from thousands of web sites.

What Shoutmouth Does and Will Offer

As of May 2007, the site covers the 1,200 most popular music artists (popularity primarily based on the number of web searches over the past 12 months for each artist).

Shoutmouth currently offers members the ability to:

• Read over 500 new music articles each week
• Read special features such as album reviews, interviews, new album release dates, top quotes of the week and other special reports
• Watch and rate music videos
• Listen to select music audio clips
• Comment on news stories and music videos
• Submit news stories that they see/hear of elsewhere
• Suggest new music artists to add to the site
• View articles by music artist or by genre (current genres include Rock, Pop, Rap, R&B, Country, and Electronic)
• Create a user profile that includes their favorite music artists, Shoutmouth friends, news stories submitted to Shoutmouth, and comments made. Members have the ability to find other members based on their favorite artists and via our search functions.
• Receive customized news and email alerts. Members can customize their “My News” page to include only artists they specify. Likewise, they can choose to receive email alerts whenever there is a new story on one of their favorite artists.

While establishing itself as the premier music news community, Shoutmouth will embark on the more aggressive goal of becoming the premier music community online . To accomplish this, Shoutmouth will begin to offer additional content (more videos, audio, pictures, lyrics, etc.) and additional functionality (music compatibility testing (e.g., if you like this, you’ll like this), voting capabilities, member-to-member messaging, etc.). We have already begun mapping out our content and technology growths plans to achieve this goal upon financing.

Importantly, Shoutmouth expects to be able to add massive amounts of relevant content (e.g., lyrics, reviews, pictures, video files, audio files, etc.) via member submissions and moderation. This is the same way that YouTube has been able to quickly add millions of videos and Wikipedia has been able to add millions of articles. Importantly, since established music websites (e.g., MTV, RollingStone.com, Billboard.com, etc.) are not community based, they would have to hire thousands of staff members to rival the content that Shoutmouth will have.

How We Get and Publish Our News

Currently, news stories that appear on Shoutmouth are gathered from numerous online sources. Shoutmouth’s staff writers find these stories by using RSS and News feeds that cover thousands of websites. In addition, Shoutmouth community members have the ability to submit stories they find elsewhere.

Typical stories include factual information plus the insight of the author. Shoutmouth editors ensure that all stories are properly classified by artist and genre, and that duplicate articles are filtered out.

Over the past three months, Shoutmouth has developed a solid infrastructure, which we consider a core competitive advantage, that that allows us to provide comprehensive music news . This infrastructure includes:

• Setting up hundreds of RSS feeds based on comprehensive research regarding sites from which to receive feeds
• Training our editorial team regarding identifying a story and weeding out duplicates
• Assigning music artists among our five-person editorial team to better manage work flow and avoid duplicate articles

We are working on a system to ensure that member-submitted articles are automatically routed to the appropriate member of Shoutmouth’s editorial team to improve our efficiencies further.

Shoutmouth’s Goal to Break News First

The majority (approximately 90%) of Shoutmouth’s articles are currently developed by our in-house editorial team, while the balance is submitted by members. In addition, virtually all of our articles are based on information gleaned from other websites. As such, we are generally not the first to publish news; however we are the first and only site to publish all the news in one easily-accessible place. The one current exception is news which is published on bands’ official MySpace pages; Shoutmouth generally publishes articles on this news 24 to 48 hours before it is reported by other news or music sites (due to our efficiencies in finding news).

Shoutmouth realizes that it will gain a key competitive advantage, and will generate significant market buzz, if it is able to report on music news stories before other media sources . To accomplish this, we have begun contacting publicity departments at record labels to gain direct access to music news. We expect these contacts to enable us to gain immediate and sometimes exclusive access to news which will help further establish Shoutmouth as the canonical source for music news. We also plan to more aggressively solicit member submissions of new, buzzworthy news events and will consider offering rewards for unique substantiated news (much the way paparazzi are compensated).

III. Competition in the Online Music Market

This section of the business plan provides a competitive analysis, which is an overview of the competitive landscape, discusses both indirect and direct competitors and then details Shoutmouth’s competitive advantages.

Because consumer demand for music on the Internet is so great, there are a vast number of music websites. In summary, we consider most sectors of the online music market (which are discussed below) to be indirect competitors and potentially partners, rather than direct competitors, because none of them focus on music news.

The reason we believe that no one focuses on music news is that it is very difficult to do. Because news is very important to music fans, most music websites offer news. However, they primarily get their news from organizations such as CNN, Reuters, the Associated Press and BBC. These large organizations only write about the music stories that have mass appeal, which traditionally amounts to 8-10 music news stories per day. However, since music fans are often zealots when it comes to their favorite artists, they are not merely interested in cover stories. For instance, a U2 fan cares about any U2 news, particularly news that a non-U2 fan might consider insignificant.

In fact, because Shoutmouth is the sole one-stop shop for getting comprehensive music news, there might be an opportunity to license our content to other music websites.

Sectors of the Online Music Market

Shoutmouth specifically comPs in the community-based music news market. While players in this market represent direct competitors, Shoutmouth faces indirect competitors in the following markets:

• Community-Based Sites
• Community-Based News Sites
• Community-Based Music Sites
• Traditional Music Websites
• Official Artist and Fan Sites

Each of these markets is described below.

A. Community-Based Sites

Community-based sites, also known as social networking sites, are websites in which members can create profiles, leave comments throughout the site, and communicate with other members among other features.

A June 2006 report by Piper Jaffray entitled “Silk Road: Social Networking is Here to Stay” effectively sums up the power and longevity of social networking:

“We believe social networking sites have become a permanent part of the fabric of web applications and are rapidly becoming one of the most popular activities online, potentially impacting how other popular services such as email, IM, and maybe even search are accessed.

As a clear indication of the growth rate and scale of social networking, consider this: MySpace monthly page views have now surpassed MSN or AOL in the U.S. and are nearly 75% of the size of Yahoo!. Social networking has filled a gap that was left by all the existing portals and web services and it is fulfilling a very important and basic function for millions of users: allowing them to express themselves and connect with their friends, with the two functions tightly integrated.

The leading sites such as MySpace (News Corp), Facebook, and others are amassing significant power in the new landscape of the Internet and the existing Internet companies are likely to have to work with these newcomers as they may yield material control on the flow of traffic to other applications.”

Social networking sites such as MySpace.com, Facebook.com, Tagged.com, and TagWorld.com have educated consumers regarding the value of these sites and how to use them. Their success has spurred genre-specific social networks such as community-based/social networking news sites and music sites, which are discussed below.

Shoutmouth doesn’t view established social networking sites as competitors since these sites have a general focus. That is, members talk about all aspects of life, from dating to music to movies, etc. Conversely, Shoutmouth is solely focused on music.

B. Community-Based News Sites

Community-based news sites are sites in which members decide what’s newsworthy and what’s not. For instance, on Digg.com, the most prominent community-based news site, members “Digg” stories that they feel are most newsworthy. The stories that the community feels are most important rise to Digg’s homepage, while less important stories get little attention.

Digg’s one million members can submit stories, “digg” stories, and comment on stories. Digg focuses on general news with a slant towards technology, gaming and unique/sensational news. While Digg does have a Music area within its Entertainment section, this receives little focus. In fact, at the time of the writing of this plan, Digg’s music home page only includes one article submitted within the past 48 hours. Furthermore, Digg doesn’t pare down the music category into sub-categories such as Rock and individual music artists. Conversely, these sub-categories are the entire focus of Shoutmouth.

Other sites that are similar to Digg include Newsvine.com, Spotback.com and Gabbr.com. Of most relevance is the Digg-like site for music, Noisetap.com, which was launched by Ticketmaster in January 2007.

Like Digg, Noisetap.com allows members to submit and vote for music stories. Noisetap.com is organized by music genre and not by music artist. This most likely will not satisfy the needs of many music fans since they don’t have the ability to find news on the specific artists they care most about. Likewise, without a full-time staff actively researching and publishing news stories at the artist-level, Noisetap.com will never be able to offer the comprehensive news that Shoutmouth does.

While Shoutmouth is currently similar to community-based news sites in that members can submit stories and comment on the news they find most interesting, no established player in the market provides a comprehensive focus on music. In addition, Shoutmouth sees these sites as marketing partners as we have and will continue to submit our stories on them to increase our readership.

C. Community-Based Music Sites

There are many community-based music websites, although none focuses on music news such as Shoutmouth. Conversely, these sites generally give members the ability to create and listen to song play lists. The community acts to help individual members find new music and new friends based on similarities in their music tastes. Prominent sites in this genre include Last.fm, Finetune, Pandora, RadioBlogClub, MyStrands, iLike[1] and iJigg.

Last.fm is the most prominent community-based music site and is a good model with which to compare Shoutmouth. Likewise, we will benchmark our performance against Last.fm as we reach of goal of becoming the premier music news community and focus on becoming the premier music community.

According to Alexa, Last.fm is the 359th most visited site on the Internet. While Last.fm focuses on allowing members to create customized Internet stations based on their music tastes, the site has much additional content and social networking features. For instance, for each artist, Last.fm includes pictures, a bio, concert dates, discography, fans on Last.fm, and similar artists. Fans are also able to create journals and communicate with other fans. Key features that Last.fm doesn’t currently focus on include news and video.

D. Traditional Music Websites

Traditional music websites such as MTV.com, RollingStone.com, Billboard.com, NME.com, AOL Music, and Yahoo! Music tend to have many features such as news, reviews, pictures, videos and audio. While these sites are generally very well done and extremely popular, they are under-serving visitors in two core areas: music news and community .

These sites’ lack of music news stems from the difficulty in creating this news, specifically that it requires filtering through thousands of articles and websites to find relevant stories. Likewise, as discussed, these firms might wish to license our news content in the future.

Regarding community , none of the top music sites are thriving communities. Rather, either these sites offer no community features or they recently began offering select features (e.g., submitting reviews or commenting on articles). Even when available, the community features on these sites are afterthoughts and are not engrained within the core fabric of the sites.

While they haven’t been able to transform their current sites into communities, top music websites clearly understand the power of online music communities and have an appetite for them. For example, in January 2007, MTV invested in social networking website TagWorld. MTV also acquired RateMyProfessors.com and Quizilla.com (teen social network) in January 2007 and October 2006 respectively.

As mentioned previously, our vision is to build and incorporate additional technologies, and use our “army” of members to publish vast amounts of music content on Shoutmouth, in order to fully satisfy music fans and leapfrog traditional music sites in terms of their music content.

E. Official Artist and Fan Sites

Shoutmouth com’s with official music artist websites and fan websites. These sites often include news about the specific artist as well as pictures, videos and other relevant information.

On one hand, official music artist and fan websites are direct competitors to Shoutmouth. This is because some of these sites offer comprehensive news on the specific artist they cover. In addition, many offer forums, discussion boards or other ways to communicate with other fans.

However, two factors separate Shoutmouth from these types of sites: 1) breadth and 2) sophistication.

• Breadth : Most music fans love more than one artist. As such, in order to get the news they want, they would have to visit/join multiple fan or artist websites rather than getting all of their news from Shoutmouth.
• Sophistication : While some official music artist websites are technologically sophisticated, offering forums, networking and other worthwhile features, the majority of artist and fan websites have limited usability, functionality and networking ability. In fact, this deficiency has lead to the success of MusicToday, which provides front and back-end technology to power artist websites.

Specifically, MusicToday offers web design and hosting, develops sophisticated online stores, builds online fan clubs and offers web ticketing among other services to select top music artists such as Dave Matthews Band, Christina Aguilera, Kenny Chesney, Britney Spears and Usher. While offering sophisticated tools for select music artist websites, MusicToday offers little to no music news nor advanced social networking functions. For instance, the official Dave Matthews Band website offers less than one news story per month.

F. Direct Competitors: Community-Based Music News Sites

Shoutmouth’s direct competitors are other music news websites that have social or community features that allow users to join the site, submit articles, comment on articles, create public profiles and/or communicate with other members. Shoutmouth has identified one significant player who offers this service, AbsolutePunk.net.

AbsolutePunk.net has done a good job of building a user base (the site claims 125,000+ registered members and nearly 500,000 un-registered members). In addition, the user base is very active — the average story on their site receives approximately 20 comments. AbsolutePunk.net offers music news, reviews, pictures and interviews among other features.

On the negative side, AbsolutePunk.net’s articles are generally posted by one staff writer (as opposed to Shoutmouth’s five writers), most articles are simply one sentence posts rather than full articles, and no attempt seems to have been made to cover all news stories. In addition, the site only covers the punk music genre. Although “punk” is broadly defined on the site, the site doesn’t cater to genres such as R&B, rap and country among others, failing to satisfy the broader market.

AbsolutePunk.net is owned by Indieclick, a Los Angeles-based media company. According to the AbsolutePunk.net website, the site:

• Has developed a loyal (72% return rate) reader base
• 5,182,147 Posts
• 163,535 Threads
• 126,448 Members
• 1,711 Artist Profiles
• 20,774 Multimedia Files
• Approx 76,000 visits per day.
• Approx 276,000 pageviews per day.

Shoutmouth’s Competitive Advantage

In addition to being the first to fill the untapped market void for comprehensive music news, Shoutmouth’s competitive advantage in the market primarily includes the following:

Online Marketing Sophistication

Content Development Experience and Expertise

Shoutmouth’s team, primarily team members DL and PF, has operated an affiliate marketing business focusing on music for the past four years. Affiliate marketing is defined as a system of revenue sharing between one site (the affiliate) which features an ad or content designed to drive traffic to another site (the merchant). The affiliate receives a fee based on traffic to the merchant which converts to sales.

Our affiliate business has focused on connecting music fans, primarily aged 13 to 30, with music offers such as iPods and ringtones. Over the past two years, we have successful sold affiliated offers to over 500,000 customers. We have become a significant online advertiser, receiving Google’s “over 1 million leads” award, and are recognized as a major player among the top affiliate networks.

It is important to note that affiliate marketing success has been credited with part of MySpace’s success. This is because effective affiliate marketers understand how to drive and convert on Internet traffic.

Shoutmouth will employ its affiliate marketing techniques to drive traffic to Shoutmouth.com and enroll members. We will utilize technologies and proprietary techniques that allow us to monitor multiple metrics such as the cost per visitor, cost per member sign-up, etc., so that we can set and maintain profitable metrics.

Another venture that Shoutmouth team members, primarily PK and DL, launched was the development of over 3,000 niche websites. To create the content for these websites, we employed a virtual work force of over 90 researchers in India and 30 writers and editors in the US.

This experience taught us how to manage a large workforce, train writers to improve content quality and motivate a large group of people. These skill sets will be critical in allowing Shoutmouth to grow the content of the site, as developed by both staff and members, while maintaining quality standards.

IV. Marketing Plan

Shoutmouth’s marketing plan includes the following:

Online Advertising : Shoutmouth will initiate pay-per-click advertising campaigns on Google and Yahoo! in order to inexpensively drive traffic to the site. Specifically, Shoutmouth believes it can drive qualified traffic to the site for 20 cents per visitor and achieve a 20% member conversion rate, thus generating members at a cost of $1.00 per member.

Keys to Shoutmouth’s success in achieving this metric include:

• Conducting thorough keyword research and advertising on appropriate keywords and keyword groups
• Creating advertising text that maximizes click through rates
• Creating landing pages that maximize conversions while maintaining the highest Google AdWords quality score possible
• Closely monitoring conversions to quickly stop and/or modify unprofitable campaigns
• Getting individuals to enter their email address to join the newsletter is much easier than getting them to join a site where they have to create a username, select a password, etc. As such, step one will be to get visitors to sign up for artist-specific newsletters.
• Once on the newsletter distribution list, members will constantly receive messages (embedded in their daily newsletter) regarding the benefits of participating more on Shoutmouth.
• Active Shoutmouth Membership: the constant reminders regarding Shoutmouth’s value proposition in the daily newsletters will influence members to participate more actively on the site (e.g., customize their profile, visit the site more often, etc.).

Invite-A-Friend : Shoutmouth is in the process of creating an aggressive invite-a-friend/member referral program. In doing so, we are following the lead of social movie community, Flixster, which grew to 5 million members within 10 months. It did this by encouraging members, during their initial registration process, to upload and send an invitation to multiple contacts in their email address books. The technology to develop this process is fairly complex and we expect to be completed with and to rollout this program in June 2007.

Direct Email Marketing : Shoutmouth will directly contact bloggers and prominent music fans we find online to tell them about Shoutmouth, encourage them to join, and encourage them to write about Shoutmouth on their blogs and online journals .

Creating/Distributing Buzzworthy/Viral Content : Shoutmouth plans to have several buzzworthy/viral articles (i.e., content that people would want to email to their friends since it is funny, interesting, etc.) on the site each day. With a single click, visitors will be able to send these articles to social bookmarking sites such as Digg.com or Fark.com, where these articles could receive widespread attention. In addition to our traditional news stories, Shoutmouth will also periodically create special reports/features in order to satisfy our members and visitors and to try to get widespread exposure.

An example of the power of such buzzworthy content, Shoutmouth has already succeeded in having two stories accepted by Fark and Digg, which have brought in over 50,000 unique visitors.

Super Fans/Street Team Development : Shoutmouth also plans to recruit “super fans.” Super fans are individuals who are passionate about a certain music artist/band and actively contribute articles and/or comments on Shoutmouth. We will recruit these fans, reward them with status (e.g., adding a gold Shoutmouth headphones image to their profile page) and encourage them to more aggressively promote the site by:

• Submitting more news to Shoutmouth
• Commenting on more articles on Shoutmouth
• Growing the Shoutmouth community around their favorite artist(s) by actively recruiting new members to join the site (such as actively posting Shoutmouth-related comments on their MySpace pages, on other music forums, etc.)

Public Relations : Upon financing, Shoutmouth will hire a public relations firm to help us get mentions in media sources ranging from magazines, newspapers, radio, television and blogs. To date, we have developed and issued press releases via Billboard Publicity Wire which have been syndicated throughout the web. An effective PR firm will enable Shoutmouth to quickly reach a wide audience.

Widgets : Shoutmouth will create artist-specific and genre-specific music news widgets. For example, our U2 widget (see example on right) would include all of the recent U2 articles published on Shoutmouth. The widget can easily be placed on MySpace pages, blogs, etc. Each story title in the widget links to the full article on Shoutmouth.

Shoutmouth has great expectations for our widget. To begin, no such widget currently exists as there is no one place to get comprehensive news for specific music artists. Secondly, each time someone places a Shoutmouth widget on their blog or social networking page, it will effectively market Shoutmouth to a wide audience at zero cost to us.

V. Technology/Site Development Plan

This section provides a brief roadmap of the initial and future functionality of Shoutmouth.

Initial Site Functionality

The initial Shoutmouth website will include the following features:

• Ability to submit and comment on news stories
• Ability to suggest new music artists to add to the site
• Ability to create user profiles
• Ability to receive customized news and email alerts
• Articles categorized by artist and core genre (e.g., Rock, Rap, Pop, etc.)
• Music artist sections which includes News, Bio and Fans

Future Site Functionality

Shoutmouth will use news and basic functionality as the platform though which we will build a thriving music community. After initial launch, the Shoutmouth technology team will work on incorporating additional features such as:

• Ability to message other members via the site (e.g., members will have an Inbox on the site)
• Event calendars: members will receive online calendars. With the click of a button, the member will be able to add tour dates of their favorite artists/bands to their calendar.
• Articles also categorized by sub-genre (e.g., Alternative Rock, West Coast Rap, etc.)
• Music artist sections to also include videos, audio files, photo galleries, reviews and event calendars to which members can upload files and vote on top content.
• Forums and member blogs
• Music compatibility testing (suggestions on song/artists members might like)
• Trivia quizzes
• Music playlists

VI. Financial Plan

Revenue Model

During the first six months, Shoutmouth will not generate any revenues as it will not sell advertising space nor offer products for sale. This decision has been made to spur the growth of the Shoutmouth community. By initially positioning Shoutmouth more as a non-profit, for-the-people-by-the-people venture, members will be more prone to promote the site and invite their friends than if the site looks too commercial.

Starting in September 2007, Shoutmouth will primarily generate revenues from selling advertising space. As technologies (such as the Snocap music widget) evolve that allow us to seamlessly integrate music sampling and purchasing on our site, sales of downloadable music are also expected to be a significant revenue source. To a lesser extent, we may sell other music-related items such as ringtones, concert tickets, and apparel.

Funding To Date

To date, Shoutmouth’s founders have invested $500,000 in Shoutmouth, with which we have accomplished the following:

• Built the site’s core technology
• Hired and trained our core staff (we currently maintain an 11-person full-time team)
• Populated the website with content (over 10,000 articles and 1,200 artist bios)
• Generated brand awareness among music fans, including driving 50,000 unique visitors in March, 100,000 unique visitors in April, and 200,000 unique visitors in May 2007.

Funding Requirements/Use of Funds

Shoutmouth is currently seeking $3 million to provide funding for the next 24 months. At this point, the site will be profitable and can grow organically, or additional capital may be sought to more aggressively expand our member base.

The capital will be used as follows:

• Execution of Marketing plan : in order for Shoutmouth to grow its visitor and member base, we need to invest dollars in online advertising and public relations. With regards to online advertising, we are confident that we can enroll members at a cost of $1 per member, which is a fraction of the value of the members to an acquirer (minimum $25 per member), thus providing a significant return on our marketing investments.
• Execution of Technology plan : in order to build a thriving community, Shoutmouth needs to offer its visitors a “stickier” website and enhanced features. We currently maintain a vast “wish list” of features, such as members uploading and rating pictures and videos, trivia quizzes, and member-to-member messaging, that will significantly improve the site’s functionality and value proposition.
• Staffing : In order to reach our goals, we will have to hire additional technical and operations personnel.

Financial Projections

Below is an overview of Shoutmouth’s Financial Projections for the next three years. Please see the Appendix for the full financial projections and key assumptions.

Exit Strategy / Valuation Metric

Shoutmouth’s most likely exit strategy is to be acquired by a traditional music website or property (e.g., Viacom/MTV, Ticketmaster, Rolling Stone), an entertainment/media conglomerate (e.g., Yahoo!, IAC/InterActiveCorp, NBC), or a large social networking site (e.g., News Corp/MySpace).

This strategy is supported by the significant M&A activity in the social networking market, which includes the following transactions over the past 24 months:

Regarding valuation, below are the estimated valuations of social networking companies on a per member basis upon exit:

• Del.icio.us: $50 – $100 per member
• MySpace: $25 per member
• Xing (business social network): $137 per member at IPO in 10/06
• Flickr: $56 – $130 per member
• Grouper: $130 per member

Based on this data, not only are social networking sites a promising investment, but sites that can acquire members for less than $25 each (a conservative valuation estimate based on the figures above), should earn a solid return on investment. As discussed above, Shoutmouth’s goal is to acquire members for no more than $1 each.

In addition, per the membership projections above, Shoutmouth’s valuation at the end of 2009, at a $25 valuation per member, is expected to be $239 million. A more conservative, using a 24.4 time EBITDA multiple (the average multiple of tech M&A deals in 2006 according to The M&A Advisor), yields a $121 million valuation in 2009.

Shoutmouth’s founding team includes entrepreneurs and managers with a track record of success and a history of successfully working together.

Management Team

DL, Co-Founder and CEO

D has a history of successfully launching and growing businesses of all sizes. As president and co-founder of an entrepreneurial services firm., D has personally assisted in the launch and development of over 100 ventures.

Over the past three years, D founded and has managed The Kisco Group which includes an affiliate marketing division (2006 revenues exceeded $3 million), a search engine optimization business which includes a network of 3,000 websites (2006 revenues exceeded $500,000) and an e-commerce business (which includes TopPayingKeywords.com and ShowerHeadsEtc.com).

D earned his Bachelors degree from the University of South Carolina.

PK, Co-Founder and Vice President of Operations

For the past two years, P has managed The Kisco Group’s search engine optimization business where he hired, trained and managed nearly 100 employees and a dozen outside firms. During this time, P has honed his management skills with regards to content development, marketing and operations.

P has had a passion for music since childhood and has been a semi-professional drummer for the past 15 years.

P earned his Bachelors of Arts degree, magna cum laude, from Clemson University.

PF, Co-Founder and Vice President of Technology

For the past year, P has managed The Kisco Group’s affiliate marketing business. In addition to setting up and managing widespread marketing campaigns, P has developed sophisticated analytic techniques to precisely analyze web traffic in order to optimize profitability.

Since August 2006, P has shifted his efforts and leveraged his technology skills in developing the Shoutmouth website. P has been instrumental in selecting the Content Management Platform upon which Shoutmouth is built, and finding and managing the technology team.

P earned his Bachelor of Arts degree from Swarthmore College.

AB, Marketing Manager

A’s background in music includes being a singer, songwriter, guitarist and producer. He has also worked on the marketing side of music, having marketed Veritas Records through the development and distribution of promotional materials.

A’s career also includes psychological research and administration, having served as a Research Assistant with the Interpersonal Perception And Communication Laboratory in Cambridge, MA.

A earned his Bachelor of Arts degree in Psychology from Ohio State University.

M, Lead Technology Developer

M is an experienced web programmer with expertise in web design, application development and database development among others.

M’s work experience includes serving as a Senior Developer at Spheres. M has also engaged in multiple, long term freelance projects including serving as a Database Developer Consultant with The Penn Group and a Web Developer Consultant with Volution Media Group and Allied Online Consulting Group.

M earned his Bachelors degree in Computer Science with a minor in Cognitive Science from Rutgers University.

Content Development Team

Shoutmouth’s writing team, managed by PK, includes the following members:

• JS, Editorial Manager: former content manager and copywriter for Scholastic Inc. and Promotions.com.
• TZ: former music intern (Virgin Records and WRRV) and author of the blog, The Tom Z Show .
• ML: former assistant editor for Adventure Publishing; author of the blog Certified Gangsta ; and former editor-in-chief of Fordham University’s newspaper The Paper .
• SB: former staff writer for Paste Magazine , The Clarion Ledger , and Nightclub and Bar Magazine among others.
• CSJ: former editorial intern for Rolling Stone and Editorial Assistant for Psychology Today .

Outsourced Technology Team

Shoutmouth works very closely with 2skies, a technology firm based in Australia with staff in Australia and the United States. 2skies is run by JDN, one of the co-founding developers of XE, the platform upon which Shoutmouth is built.

XE is an extensible, Open Source web application framework written in PHP and licensed under the GNU General Public License. XE delivers the requisite infrastructure and tools to create custom web applications that include fully dynamic multi-platform Content Management Solutions (CMS).

VIII. Appendix: Shoutmouth Financial Projections   3-Year Income Statement

3-Year Balance Sheet

As of December 31

3-Year Cash Flow Statement

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Didn't find what you are looking for.

The answer is simple.

It’s an informal business plan that can convince you that your idea makes sense to the outside world because you are investing your time, money, and everything into that idea.

To write a business plan, maybe you think you don’t need a step-by-step guide or a sample business plan . After all, some entrepreneurs achieved success without writing a business plan. With great timing, past business experiences, entrepreneurial ambitions, and a little luck, some entrepreneurs build successful businesses without even writing an informal business plan.

But the odds are greater than those entrepreneurs fail.

And that’s why writing a business plan will help you succeed .

The easiest way to simplify the work of writing a business plan is to start with sample business plans.

What is business plan sample?

Why you should refer a business plan example, who should use business plan examples, how to use sample business plans.

What is Business Plan Sample?

That’s why we created business plan examples to help you get started.

Use our 400+ business plan examples written for all industries and write your business plan in half of the time with twice the impact.

• Guidance on what to include in each section.  If you’ve never attended business school, you might never have created a  SWOT analysis   or a balance sheet before. Business templates that give guidance — in plain language — about what to include and how to fill in each section and create a complete and effective plan.
• A business plan is vital to get an investment.  If you’re seeking investment for your business, you’ll need to convince banks and investors why they should invest in your business . Lenders and investors will only risk their time and money if they’re certain that your business will be successful and profitable and they will get a great return on their investment.
• A business plan can help you prioritize.  A complete, well-balanced business plan is one of the most valuable tools in assisting you to reach your long-term goals. It gives your business direction, defines your goals, outlines out strategies to reach your goals, and helps you to manage possible bumps in the way.

Who should use Business Plan Examples?

Well Everyone, who wants to write a business plan should use these sample business plans. These plans apply to almost all industries.

We have created a library of professional sample business plans from a wide variety of industries to help you start writing your business plan with minimum effort.

Use our Upmetrics — business plan software that offers step by step guide to start writing your business plan , especially if you’re writing an informal business plan to get a bank loan or outside investment.

Our extensive sample business plans library includes  business plan templates  and  business plan examples  for almost all business industries.

Make your plan in half the time & twice the impact with Upmetrics.

How to use Business Plan Examples to write your own?

Having real-life and industry-specific business plan examples by your side can be incredibly resourceful to help you write a business plan from scratch. 

A well-planned structure helps you outline your plan, while content inspiration helps you set the tone for your business document. 

Let’s dive deep and understand how to use these examples effectively to write your business plan.

1. Use examples as a guide

2. understanding the structure.

Traditional business plans generally follow a similar structure. 

It starts with an executive summary followed by a company description, market analysis, product and services, sales and marketing strategies, operational plan, management team, financial plan, and appendix.

Using an example business plan is the best way to understand the structure and outline your plan. 

3. Gaining Inspiration

Reading industry-specific business plan examples can help you gain inspiration for your plan. You can gain insights on presenting your business idea, vision, mission, and values and persuade investors to invest in your idea.

4. Learning Industry-Specific Language

There’s no universal template for business planning that fits all. An industry-specific template can help you learn and understand the business language for your industry and the best way to communicate your message to your investors.

5. Identifying Key Elements

Reading business plan examples of similar businesses can help you identify the key elements and information to include in your plan. You can keep note of these and ensure everything necessary for investors to consider is present in your final draft.

6. Crafting Financial Projections

A financial plan is a critical component of your business plan, and a good business plan example can help you better understand how they project their financials which can be incredibly helpful while forecasting yours.

7. Refining Your Executive Summary

As mentioned earlier, your executive summary is a key factor influencing potential investors and lenders to invest or lend you money. Analyzing free business plan templates can help you optimize your executive summary to make it more brief, persuasive, and attention-grabbing.

8. Realizing What Works and What Doesn’t

Analyzing industry-specific and real-life examples can help you determine what works best and what doesn’t within your industry. Understanding these factors can help you avoid many significant pitfalls.

While business plan examples can be incredibly helpful in writing a plan from scratch, ensure your plan is customized for your business and sends out a unique message. Your business plan must reflect its unique idea, vision, and target market.

Using your Business Plan as a Management Tool

It’s essential to have a business plan, but it’s also crucial to keep it up to date as your business progresses. A business plan is not merely a document that you write once and forget after you get started. It’s a business road map and vision that you should develop as your business progresses and evolves. It’s also important to update your business plan regularly as your business situation and position change.

How Business Plan Software can help you?

We have created Upmetrics — business plan software to simplify the process of business planning.

Our financial forecasting module will create all the essential reports automatically. You just need to enter numbers and the application will do all the math to generate your financial reports. Later you can embed those reports into your business plan.

After completing your business plan, you can download your business plan in PDF or DOC file using Upmetrics. Also, you can share it online with investors or with other important people just by a quick link.

Ready to take the next step?

Now that you have a business idea and you know how to write a business plan, it’s time to go for it . Our business plan software will take you through each step outlined above in more detail so there are no surprises on your journey.

Simplifying Business Planning through AI-Powered Insights.

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After trying Upmetrics, I wish to highly recommend this app to anyone who needs to write a business plan flexibly and to a high standard.

Frequently Asked Questions

What is sample business plan, how do i write a business plan.

In business plan writing you will need to write the following sections into your business plan. These sections include an Executive Summary, Company Overview, Problem Analysis, The Solution, Market Analysis, Customer Analysis, Competitive Analysis, SWOT Analysis, Marketing Plan, Operations Plan, and Financial Plan.

Check out our article to learn how you can write these sections in detail for your business plan.

How long should my business plan be?

The length of your business plan depends on the type of plan you choose. There are one-page business plans that offer easy and practical planning. Then you have traditional business plans that usually vary from 20 to 50 pages. It’s worth noting that the quality of your business plan matters more than its length.

Should I hire someone to write my business plan for me?

Absolutely No, You as a business owner know all about your business idea, your business goals, target market and audience, and what you want to achieve by writing your plan. Don’t hire someone who doesn’t know what your readers will want, the reason is that, if you intend to raise funds, you are the best person that understands what investors will look out for in your business plan.

Consultants or  business plan writers  definitely can write a business plan but not better than you.

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Key Sections Included in our Example Business Plans:

Executive Summary : A quick overview of your plan and entices investors to read more of your plan.

Company : Describes the ownership and history of your business.

Products and Services : Reviews what you sell and what you’re offering your customers.

Market Analysis : Describes your customers and the size of your target market.

Strategy and Implementation : Provides the details of how you plan on building the business.

Management Team : An overview of the people behind the business and why they’re the right team to make the business a success.

Financial Plan : A complete set of forecasts including a Profit and Loss Statement, Cash Flow Statement, and Balance Sheet.

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14 Professional Business Plan Samples [Downloadable pdf]

Looking for business plan examples for inspiration? Download or view 14 business plans examples/samples, vetted by our MBA business plan writers. Download in PDF format or read like a book. These real business plan samples would help in writing your own business plan.

• View Real Business Plan Examples/Samples

As an entrepreneur, effectively pitching your idea to attract investors and secure funding can be a challenge. Moreover, when launching a business, creating a comprehensive business plan is paramount.

To aid you in these crucial tasks, we offer a collection of real-world and sample business plan examples across diverse industries. A well-structured business plan is indispensable in the fast-paced entrepreneurial landscape, as it delineates your goals, strategies, and financial projections, providing a clear roadmap for your venture.

Our aim is to facilitate the creation of an effective business plan by integrating real-life examples to elucidate the key elements involved. Below, you’ll find a range of 14 detailed business plan examples available for download and use.

Important Sections to Include in Business Plan

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To create a robust business plan, ensure inclusion of the following key sections:

• Executive Summary: A brief snapshot of your business and the key highlights of your business plan. Read more
• Product and Services: An elaborate description of the offerings you will provide to your customers. Read more
• Marketing and Sales Plan: A strategic roadmap outlining how you intend to promote and market your business before, during, and after its launch. Read more
• Operating Planning: An explanation of the systems, processes, and tools necessary to efficiently run your business behind the scenes. Read more
• Organization and Management: Organization and management in a business plan outline the structure and leadership of the company. Read more
• Financial Plan: A comprehensive plan mapping out your short-term and long-term financial goals and the associated costs of running your business. If you require funding, this section is where you can outline your request and financial needs. Read more
• Key External Drivers: External drivers encompass factors like outsourcing, economic changes, industry competition, and business legislation complexity. Read more
• Startup Summary: The startup summary offers a comprehensive financial overview of , detailing expenses, asset value, and total requirements, crucial for transparency with entrepreneurs and investors. Read more
• Projected Industry Growth : Projected industry growth forecasts the sector’s expansion, offering a 10-year perspective and average annual growth rate, providing clarity to investors. Read more
• Break-even analysis: The break-even analysis visually presents key metrics and a 12-month revenue forecast to help stakeholders grasp the point where the business covers costs and starts generating profit . Read more
• Management Summary: The management summary provides a concise overview of organizational structure, key personnel, their roles, and financial commitments, ensuring stakeholders understand the business’s operational strength and leadership capability. Read more
• Financial Indicators: The financial indicators section evaluates organizational fiscal health, focusing on year-over-year profitability metrics, leverage ratios, liquidity ratios, and additional metrics, providing a comprehensive understanding of the business’s financial performance and efficiency in revenue generation from equity investments. Read more

Something Borrowed Something New is a burgeoning e-commerce enterprise specializing in wedding accessories and personalized gifts. Operating on a drop-shipping model, this business has the capability to make a significant impact in the market.

Moreover, leveraging social networking and blogging can be instrumental in generating awareness and capturing interest, thereby creating a robust online marketing strategy for Something Old and Something New.

To enhance their business operations, they are contemplating the integration of a WhatsApp CRM system. This initiative aims to optimize communication with potential customers, ensuring prompt responses to inquiries and fostering a seamless interaction process.

EPlace Solutions will be an innovative online marketplace business portal offering a variety of products to consumers throughout the globe. Founded by Mr. John Jones, a seasoned business visionary with an eye toward profit and achievement, the organization is set to enter the market in 2023.

Online shopping is at an all-time high with new consumer mindsets calling for them to shop for the types of deals and bargains that will be so much a part of the online marketplace business model.

There is an increasing demand for snack-type fast food to be consumed while window shopping and walking around inside a shopping mall.

Do you plan to start a snack bar business? Then here’s a complete snack bar startup business plan template and feasibility report you can use FREE of charge. It sounds easy to open a snack bar, but in reality, you need well-planned strategies to ensure that your business stands the test of time. 

Our snack bar business plan sample includes a detailed description of the products and services offered, as well as a market a nalysis  and competitive analysis.

It also includes a financial plan that outlines the startup costs, revenue projections, and break-even analysis. We like this sample plan because it demonstrates how to build a profitable snack bar business by creating a unique menu and offering healthy, high-quality snac ks that meet custome r demand.

Your snack shop business plan can look as polished and professional as the sample plan. It’s fun and easy, with Wise Business Plan. Let’s review the  snack shop business plan sample  and adjust them according to your audience for the best results.

A coffee shop business plan is a document that outlines what your business idea is and how it will be implemented. Its purpose is to answer questions such as what it costs to start a coffee shop, how these costs will be financed, and how much money you can expect to earn from your cafe.

Are you looking for the right business plan for your cafe? Let’s review the  Coffee shop business plan sample  to find out how cloud-based software can make your day-to-day work more efficient.

Our coffee shop business plan sample includes a detailed description of the products and services offered, as well as a market analysis and competitive analysis.

It also includes a financial plan that outlines the startup costs, revenue projections, and break-even analysis. We like this sample plan because it demonstrates how to build a profitable coffee shop business by creating a unique brand and offering high-quality products a nd customer service.

In the food industry, there is fierce competition. To ensure success, you need to hit the ground running with the right pitch. Our food house business plan is the ideal solution with an attractive design highlighting key information and conveying the right message.

This food business plan example features food images intended to tantalize the taste buds. It captures the theme perfectly and will convey the ultimate message to investors, clients and customers.

It is important to remember that the business plan template can be customized to meet your company’s specific needs and requirements. It will help showcase your business as a leader in the modern industry.

This food business plan template provides key slides to showcase everything from finances to marketing and key competitors. If you prefer, you can alter the content displayed to meet your specific needs, but this is a good starting point.

Ultimately, this  food house business plan  will be suitable for any business operating in the food industry and keen to get interested from key individuals. It will ensure that you can build up the rep of your company.

We provide a one-of-a-kind sales pitch deck designed to appeal to your prospective audience, as well as a custom presentation tailored to their information requirements.

When establishing a think tank, you will need to develop a business plan and document it properly. As a mass think tank, you need a special strategy to legalize the think tank as a non-profit organization and to raise funds for your project successfully.

Copy and print businesses offer a variety of services to both businesses and consumers. A copy and print shop can handle everything from single-page printing to large-volume jobs using several types of media.

Our printing shop business plan sample includes a detailed description of the products and services offered, as well as a market analysis and competitive analysis. It also includes a financial plan that outlines the startup costs, revenue projections, and break-even analysis. We like this sample plan because it demonstrates how to build a profitable printing shop business by offering high-quality, customized printing services with a focus on customer s ervice and efficient operations.

Let’s take a look at Printing and Photocopy Business Plan Sample that you can use to inspire your own and easily create one.

The acquisition business plan sample is intended for businesses seeking to acquire another company or merge with a competitor. This plan includes an analysis of the target company, a valuation, and a strategy for integrating the acquired business into the existing operations. We like this sample plan because it provides a clear roadmap for the acquisition process and demonstrates the potential benefits of the deal.

At Wisebusinessplans, we understand that obtaining an L1 visa for an executive or manager requires a thorough and compelling business plan.

Our L1 business plan sample includes all the necessary components to satisfy USCIS requirements and demonstrate your qualifications and your company’s viability in the US market.

The L1 business plan sample is a comprehensive plan for a new business seeking L1 visa approval for an executive or manager. This plan focuses on demonstrating the applicant’s qualifications and the company’s viability in the US market.

We like this sample plan because it is specific to the L1 visa process and includes all the necessary components to satisfy USCIS requirements.

If you’re an entrepreneur seeking E-2 visa approval, Wise Business Plans can help you create a persuasive business plan.

Our E-2 business plan sample outlines your investment, business operations, and financial projections, providing a clear and compelling case for your ability to successfully run a business and make a significant economic impact.

The E-2 business plan sample is designed for entrepreneurs seeking E-2 visa approval, which allows individuals to invest in and manage a business in the United States. This plan outlines the applicant’s investment, business operations, and financial projections. We like this sample plan because it provides a clear and compelling case for the applicant’s ability to successfully run a business and make a significant economic impact.

If you’re looking to obtain an EB-5 visa by investing in a new commercial enterprise in the United States, Wise Business Plans can help you create a compelling business plan.

Our EB-5 business plan sample includes a description of your business, a market analysis, and financial projections, providing a detailed and persuasive case for the potential success of your venture.

The EB-5 business plan sample is designed for individuals seeking to obtain an EB-5 visa by investing in a new commercial enterprise in the United States. This plan includes a description of the business, a market analysis, and financial projections. We like this sample plan because it provides a detailed and persuasive case for the potential success of the business, which is crucial for obtaining EB-5 visa approval.

If you’re seeking investment from angel investors, venture capitalists, or other private equity firms, Wise Business Plans can help you create a compelling pitch.

Our investor business plan sample includes a pitch deck, financial projections, and a detailed analysis of the market the potential return on investment and the scalability of your business.

The investor business plan sample is intended for businesses seeking to attract investment from angel investors, venture capitalists, or other private equity firms. This plan includes a pitch deck, financial projections, and a detailed analysis of the market opportunity. We like this sample plan because it emphasizes the potential return on investment and the scalability of the business.

At Wisebusinessplans, we’re committed to helping non-profit organizations achieve their social impact goals.

Our non-profit business plan sample includes a mission statement, programs and services, marketing and outreach strategies, and a financial analysis, providing a clear roadmap for establishing or expanding your organization.

The non-profit business plan sample is designed for organizations seeking to establish or expand a non-profit entity. This plan includes a mission statement, programs and services, marketing and outreach strategies, and a financial analysis. We like this sample plan because it demonstrates a strong commitment to social impact and outlines a clear strategy for achieving the organization’s goals.

Whether you’re seeking financing from a bank or other financial institution, Wise Business Plans can help you create a detailed and persuasive business plan.

Our bank business plan sample includes a thorough financial analysis, market research, and a strategy for achieving profitability, highlighting the key factors that banks consider when evaluating loan applications.

The bank business plan sample is tailored for businesses seeking financing from a bank or other financial institution. This plan includes a detailed financial analysis, market research, and a strategy for achieving profitability. We like this sample plan because it highlights the key factors that banks consider when evaluating loan applications, and provides a strong case for the borrower’s ability to repay the loan.

The cannabis industry is rapidly growing, and Wise Business Plans can help you enter it with confidence.

Our cannabis business plan sample includes a market analysis, operational strategy, and regulatory compliance a comprehensive overview of the unique challenges and opportunities in the industry and offering a clear roadmap for success.

The cannabis business plan sample is tailored for entrepreneurs seeking to enter the rapidly growing cannabis industry. This plan includes a market analysis, operational strategy, and regulatory compliance plan. We like this sample plan because it provides a comprehensive overview of the unique challenges and opportunities in the cannabis industry, and offers a clear roadmap for success.

The executive summary is a concise overview of your business plan, highlighting the key points of each section. It should capture the essence of your business, its mission, and the purpose of the business plan. This section should be written last, but it’s placed at the beginning of the business plan. Here is an example executive summary from our professional business plan written for Eplace Solution , an innovative e-commerce portal.

• Keep it brief and focused on key points.
• Clearly define the problem and your solution.
• Highlight market opportunities and growth potential.
• Showcase your team’s qualifications.
• Include financial projections.
• End with a clear call to action.
• Tailor it to your audience.
• Review and update regularly.

In this section, provide a detailed description of your company, including its history, legal structure, location, and vision. Explain your mission statement and core values that guide your business decisions. Use real-life examples of successful companies and how their strong company descriptions have contributed to their growth. In addition, you can reuse your company description on your About page, Instagram page, or other properties that ask for a boilerplate description of your business.

This section also allows you to describe how you register your business . Here you must choose whether your business is a corporation, sole proprietorship, LLC , or another type of business .

• Describe your company’s mission and vision.
• Explain what your business does and the problems it solves.
• Mention your target market and customer base.
• Highlight your unique selling points.
• Provide a brief history and background.

A market analysis analyzes how you are positioned in the market, who your target customers are, what your product or service will offer them, and industry trends. It might be useful to do a SWOT analysis to discover your strengths and weaknesses to identify market gaps that you may be able to exploit to build your business.

As part of your market research, you’ll also need to perform a competitive analysis. It will give you an idea of who your competition is and how to differentiate your brand. Here’s an example of a competitive analysis we did for a food business.

• Research and understand your industry thoroughly.
• Identify market trends and growth opportunities.
• Analyze your competitors and their strengths and weaknesses.
• Define your target audience and their needs.
• Include data and statistics to support your analysis.

Adding products and services to a business plan involves more than listing your company’s offerings. If you intend to gain funding or partner with another business, your products, and services section needs to demonstrate your company’s quality, value, and benefits.

Here’s an example of a product and service section in the business plan we wrote for an e-commerce business that offers wedding accessories.

• Clearly describe your offerings and their features.
• Explain how your products/services address customer needs.
• Highlight any unique qualities or advantages.
• Discuss your pricing strategy.
• Mention any future product/service development plans.

Here is example of services section of a bank.

It is always a good idea to have a marketing plan before launching your business. A potential investor will want to know how you will advertise your business. Therefore, you should create a marketing plan that explains your planned promotion and customer acquisition strategies.

Discuss how you will make a sale. How will you attract customers and maximize their lifetime value? Ensure your marketing and sales forecasts align with your financial forecasts Marketing plans are usually based on the four Ps : product, price, place, and promotion. Breaking it down by marketing channels makes it easier. Discuss how you intend to market your business via blogs, email, social media, and word-of-mouth. Here is an example of marketing strategies we develop for a restaurant business.

• Define your marketing goals and objectives.
• Outline your marketing strategies, including channels and tactics.
• Explain your sales strategy and target sales goals.
• Include a budget for marketing and sales activities.
• Discuss your sales team and their roles.
• Detail your customer acquisition and retention strategies.
• Mention any partnerships or collaborations for marketing and sales.

Example of marketing and sales plan section of a bank

The operation plan should include all the steps needed to run the business in the long run. The plan should include details about logistics, duties for each department of the company, and responsibilities for the team.

The main aspect of running a business is its costs. Whether it’s machinery or services, each requires capital.

how to write an operation plan in a business plan

• Describe your day-to-day business operations.
• Explain your supply chain and production processes.
• Outline your facility and equipment requirements.
• Discuss your quality control and efficiency measures.
• Mention any legal and regulatory compliance considerations.
• Detail your staffing and management structure.
• Include contingency plans for potential disruptions.

In this section, you can describe your current team and the people you need to hire. You will need to highlight your team’s relevant experience if you intend to seek funding. Basically, this is where you demonstrate that this team can be successful in starting and growing the business.

• Introduce your leadership team and their roles.
• Highlight their relevant experience and qualifications.
• Explain your organizational structure and hierarchy.
• Discuss key personnel responsibilities and functions.
• Mention any plans for team growth or development.
• Address any advisory boards or external support.

Management summary of coffee shoppe business.

A financial plan should include sales and revenue forecasts, profit and loss statements , cash flow statements , and balance sheets .

Now, if you plan to pitch investors or submit a loan application, you’ll also need a “use of funds” report. Here you outline how you plan to leverage any funding you might acquire for your business.

With our business templates , you can create your own income statement, cash flow statement, and balance sheet.

• Include detailed financial projections (income statement, cash flow, balance sheet).
• Explain your funding requirements and sources.
• Discuss your pricing and revenue model.
• Describe your expense management and cost controls.
• Mention any financial risks and mitigation strategies.
• Highlight key financial milestones and goals.

Financial highlights of foodShack business.

External drivers refer to the external factors or influences that significantly impact the activity and growth of an industry. These drivers include outsourcing of non-core activities, changes in economic activity, competition from other industries, and the complexity of business legislation.

Additionally, external drivers encompass the effects of changes in new business formation, especially among small businesses, which directly affect the demand for services within the industry.

• Identify and analyze current and emerging market trends in your industry.
• Assess potential positive or negative impacts these trends may have on your business.
• Evaluate broader economic conditions, including inflation rates, interest rates, and GDP growth.
• Elucidate how changes in economic conditions could influence consumer behavior, product demand, and overall cost structure.
• Outline key industry regulations and compliance requirements, discussing potential impacts on operations, costs, and market access.
• Highlight relevant technological advancements and explain their potential effects on your product or service offerings, operations, and competitiveness.
• Analyze current and potential future competitors, emphasizing the evolving competitive landscape’s impact on market share, pricing strategy, and overall business strategy.
• Consider social and cultural factors influencing consumer preferences and behaviors, exploring how societal changes can affect product demand.
• Evaluate environmental trends and regulations, discussing potential impacts on operations, supply chain, and customer perceptions.
• Assess political stability, government policies, and geopolitical factors, exploring potential risks and opportunities from political changes.
• Discuss global market conditions, analyzing how global economic trends, trade policies, and currency fluctuations may affect operations and expansion plans.
• Identify and discuss potential risks in the supply chain, such as disruptions, shortages, or geopolitical issues.
• Consider demographic shifts affecting your target market and discuss how changes may impact your customer base and marketing strategies.
• Highlight key legal and regulatory factors affecting the business, discussing potential legal challenges, compliance costs, and regulatory changes.
• Outline comprehensive risk management strategies, including contingency plans and risk mitigation strategies.
• Explain how you will monitor external drivers and emphasize the importance of staying agile and responsive to changes in the external environment.

The startup summary serves as a comprehensive overview of essential financial aspects, encompassing total startup expenses, the overall value of startup assets, and the total requirements, which is the cumulative sum of all expenses and startup investments.

It provides a clear financial snapshot, outlining the costs involved in launching the business, the value of assets acquired, and the overall financial needs for the startup.

This section is crucial for entrepreneurs and potential investors, offering a transparent understanding of the financial foundation required to initiate and sustain the business successfully.

This roadmap ensures a realistic evaluation of the business idea, identifying potential challenges and offering solutions.To write an effective plan, focus on what sets your venture apart from competitors, maintain conciseness, and embrace flexibility as a living document.

Answer fundamental questions about your business, create actionable checklists, execute the plan, and continually revise and update based on experiences and feedback.This iterative process fosters continuous improvement, helping entrepreneurs stay adaptable and enhance their business strategies over time.

• Clearly state the startup’s name and provide a concise description of its activities.
• Include a succinct mission statement capturing the startup’s purpose and goals, reflecting its core values.
• Specify the founding date and offer brief bios of key founders, highlighting relevant experience.
• Summarize the startup’s concept, explaining offered products or services and key distinguishing features.
• Clearly articulate the problem or need in the market that the startup addresses, defining the target audience.
• State what makes the startup unique, whether it’s a special feature, market gap, or competitive advantage.
• Provide a brief description of the market opportunity, covering target market size, trends, and growth prospects.
• Outline how the startup plans to generate revenue, detailing streams, pricing strategy, and potential partnerships.
• Offer a snapshot of the startup’s current status, highlighting key achievements such as product development or partnerships.
• If seeking funding, clearly state the amount sought and its allocation, covering areas like product development and marketing.
• Include a high-level financial summary with key projections for revenue, expenses, and profitability.
• Briefly outline future aspirations and plans, encompassing areas like expansion, product development, or strategic partnerships.

The projected industry growth is a pivotal aspect that forecasts the expansion of a specific sector over a defined timeframe.

For instance, it could provide an estimate of where that particular business will be standing in the next 10 years, and what will be the average annual growth rate of that industry.

This information provides prospective investors and stakeholders with a clear understanding of the industry’s potential and positions the startup within a dynamic and flourishing market.

• Emphasize the importance of industry trends and growth to your business.
• Provide a concise overview, including market size, major players, and recent trends.
• Briefly explain how you gathered data on industry growth projections (e.g., market research reports, expert interviews).
• Identify and discuss prevailing trends, such as technological advancements, changes in consumer behavior, and regulatory shifts.
• Summarize the industry’s historical growth, highlighting growth rates, market expansion, and notable milestones.
• Highlight key factors expected to drive industry growth, such as emerging markets, technological innovations, and demographic shifts.
• Discuss specific opportunities within the industry, including gaps in the market, underserved segments, or areas of competitive advantage.
• Acknowledge potential challenges or risks that could impact industry growth, demonstrating a realistic understanding.
• Present projections for future growth rates based on historical data, expert opinions, and your analysis. Include short-term and long-term projections.
• Discuss how key competitors are positioned to leverage industry growth, emphasizing your business’s differentiation strategies.
• Consider the regulatory landscape impacting growth, discussing anticipated changes and their potential effects on the industry.
• Explore international trends and their implications for industry growth, including factors like global economic conditions and geopolitical influences.

Here is example of market analysis section of a bank.

The break-even analysis serves as a vital financial tool, offering a detailed estimation of key metrics such as Sales Revenue, Cost of Sales, Gross Profit, Fixed Expenses, and Income Before Tax.

These critical components are visually presented through a bar graph, providing a clear and concise overview of the financial dynamics.

Additionally, the break-even analysis delves into a 12-month forecast, outlining the projected amount of revenue generated and the corresponding fixed costs.

This section is instrumental in helping stakeholders understand the financial threshold at which the business covers its costs and begins to generate profit.

• Define break-even analysis as a financial calculation where total revenue equals total costs.
• Identify constant costs regardless of production or sales levels.
• Enumerate and explain costs changing with production or sales.
• Present the break-even analysis formula, indicating the units needed to cover costs.
• Perform a practical break-even calculation using business-specific fixed costs, selling price, and variable cost per unit.
• Include a break-even chart or graph for a visual understanding of cost-revenue dynamics.
• Conduct a proactive sensitivity analysis to explore how changes in variables impact the break-even point.
• Specify the anticipated timeframe to reach the break-even point in terms of months or units sold.
• Clearly outline assumptions made in the analysis and provide justifications for transparency and credibility.
• Acknowledge potential risks or challenges that may affect the accuracy of the break-even analysis.
• Briefly mention contingency plans for difficulties in reaching the break-even point within the projected timeframe.

The management summary within the business plan provides a concise overview of the organizational structure and key personnel.

This includes a count of individuals, specifying the number of founders and operational team members integral to the organization.

The summary delves into the roles and responsibilities of each key figure, offering insights into the leadership dynamics driving the business.

Furthermore, the management summary sheds light on the financial aspect by presenting details about personal wages and payroll allocations for both founders and operational staff.

This comprehensive section ensures a clear understanding of the human resource framework and the financial commitments associated with the management team, crucial for stakeholders evaluating the business’s operational strength and leadership capability.

• Highlighting the critical role the management team plays in the business’s success, the introduction emphasizes their significance.
• Listing each key member with names, positions, and brief role summaries introduces the core of the management team.
• Providing brief biographies for each team member underscores their relevant experience, skills, achievements, and industry-specific expertise.
• Clearly outlining roles and responsibilities emphasizes how each team member’s skills contribute to the overall success of the business.
• Sharing the team’s vision and strategy involves discussing key strategic goals and outlining the plans to achieve them.
• Highlighting notable achievements or milestones showcases the team members’ successful ventures, industry recognition, or career accomplishments.
• Discussing team dynamics emphasizes collaboration and the complementary nature of their skills in driving the business forward.
• Introducing advisory board members, if applicable, underscores the additional guidance and expertise they bring to the business.
• Discussing how the team plans to contribute to future growth and development includes strategies for talent acquisition, leadership development, and succession planning.
• Touching on the team’s culture and values emphasizes their role in shaping the overall ethos of the business.
• If seeking investment, briefly mentioning how the management team plans to use funding for business growth and development provides insight into their financial strategy.

Here is example of marketing and sales plan section of a bank.

The financial indicators section within the business plan helps in evaluating the fiscal health and performance of the organization.

Year-after-year profitability estimates take center stage, encompassing key metrics such as gross margin, net profit margin, and EBITDA to revenue.

These indicators provide a comprehensive understanding of the business’s ability to generate profit relative to its revenue.

Furthermore, the financial indicators extend to leverage ratios, including the critical Debt to Equity ratio, Debt to Assets ratio, and Interest Coverage ratio.

These metrics illuminate the organization’s capital structure, debt management, and its capacity to meet interest obligations.

Liquidity ratios includes the Current Ratio and Current Debt to Total Asset Ratio.

These ratios provide insights into the company’s short-term financial health and its ability to meet immediate obligations.

The financial indicator toolbox is enriched with additional metrics, notably the Revenue to Equity ratio, which sheds light on the efficiency of generating revenue from equity investments.

• Detailed revenue forecasts for the next 3-5 years. Breakdown by product/service and geographical regions.
• Detailed breakdown of anticipated expenses. Include fixed and variable costs, operational expenses, and other relevant expenditures.
• Historical P&L statements if available. Projected future profits and losses based on revenue and expense projections.
• Outline of expected cash inflows and outflows. Emphasis on the ability to meet short-term obligations.
• Snapshot of the company’s financial position. Includes assets, liabilities, and equity.
• Calculation and presentation of key financial ratios (liquidity, solvency, profitability). Discussion on the significance of these ratios.
• Identification and explanation of relevant KPIs. Highlighting alignment with the overall business strategy.
• Discussion of potential financial risks. Mitigation strategies and addressing uncertainties.
• Clear statement of the amount and purpose of funds required.
• Outline of key assumptions underlying financial projections. Rationale for these assumptions.
• Summary of industry financial trends and business positioning. Outlook on future financial prospects considering market dynamics.

Looking For The Right Business Plan Format?

These sample business plans will provide you with a complete structure and format for your business plan, which will give you a head start on developing your document, so you won’t be stuck seeing an empty page and wondering what to write.

Simply going through the process of writing a business plan is one of its key benefits. If you sit down to write, you’ll naturally think about your startup costs, your target market , and any market analysis or research you’ll need to conduct. In addition to defining your position among your competitors, you will establish your goals and milestones.

You can see what should be included in a sample financial plan, but It is wrong to assume that a sample company’s financial projections will fit your own. If you need more resources to get you started, we recommend this guide on how to write a business plan .

In addition, you can download our 40+ free business plan templates covering a range of industries.

One-page business plans are short, compact, and to the point and are designed to make the plan easy to read at a glance. Make sure to include all of the sections, but truncate and summarize them

Start-up business plans are for businesses that are just getting started. They are usually developed to secure outside funding. In this regard, financials are of increased importance, as well as other sections that determine whether your business idea is viable, such as market research.

A strategic business plan lays out a company’s goals and how it will achieve them at a high level. It is a foundational document for the company as a whole. A strategic business plan allows all levels of the business to see the big picture, inspiring employees to work together to reach the company’s goals.

Developing a feasibility plan answers two primary questions about a business venture: who would purchase the service or product the company wants to sell, and if the venture is profitable.

Internal Business plans are geared to a specific audience within a company to keep your team on the same page and focused on the same goals.

In conclusion, whether you’re venturing into a traditional business or creating an innovative startup, the significance of a well-crafted business plan cannot be overstated. Different types of business plans cater to specific needs, from internal alignment to strategic expansion. Employing a template in MS Word ensures a polished presentation. The process of writing an executive summary, creating a plan, and defining the components of your business plan is essential.

Recognizing the need for a comprehensive and standard business plan can help guide your endeavors. Whether you choose to write a full business plan or opt for a one-page business overview, leveraging templates in MS Word can simplify the process. In essence, understanding the types of business plans and utilizing an executive summary template provides a structured approach to showcase your business overview.

Take inspiration from example business plans to tailor your strategy, ensuring a roadmap for success in the dynamic world of entrepreneurship. Always remember, a meticulously crafted business plan not only communicates your vision effectively but also serves as a valuable resource that can help secure investments and guide your business’s growth trajectory.

Begin with an executive summary, delve into market analysis, outline your strategies, create financial projections, and use available business plan examples as templates to guide your writing.

A comprehensive business plan template should encompass key sections such as an executive summary, business description, market analysis, marketing strategy, organizational structure, and financial projections. Seek templates online that cover these elements.

Tailor your business plan to the scale of your small business. Define your objectives clearly, outline cost-effective strategies, and emphasize agility in adapting to market changes.

Explore well-crafted business plan examples you can visit our website  wisebusinessplan.

The fundamental components include an executive summary, business description, market analysis, marketing and sales strategy, organizational structure, product/service description, and financial projections.

Investors focus on growth potential, detailed financial projections, market analysis, competition analysis, and the qualifications and experience of your management team when reviewing a business plan.

To find a business plan example for a tech startup,you can visit our visit wisebusinessplan .

A business plan provides a comprehensive overview of your entire business, including strategies, operations, and financials. In contrast, a business proposal typically focuses on a specific project or offer, outlining the details and benefits to a potential client.

Craft an engaging executive summary by summarizing your business’s mission, highlighting the market opportunity, showcasing your product or service, and providing a concise overview of your financial projections.

Seek tailored business plan examples for nonprofit organizations you can visit wisebusinessplan .

These business plans are written by MBA writers. Real-world use cases were used in these plans.

Get our business plan writing and consultation service.

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Simple Business Plan Templates

By Joe Weller | April 2, 2020

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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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The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

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550+ Business Plan Samples To Inspire Your Plan

Inspire your own plan with 550+ business plan samples

Use real business plan examples to jump-start your own plan!

Don’t start from scratch — get a headstart with 550 real business plan examples

How do you know what elements to include in your business plan, if you’ve never written one before? Looking at real business plan samples can help you visualize what a successful plan looks like, so you know what you’re aiming for before you get started. With LivePlan you’ll have access to over 550 free example business plans to use as a starting point.

Access our full library and browse real sample content for a broad range of businesses. You’ll see how others have written effective executive summaries, planned marketing activities, created financial forecasts , and more. Plus we’ll be right there to walk you through it .

Whether you run a dentist office or dog walking service, you’ll find examples of a business plan for every type of business.

Whether you’re a small- or mid-sized business, freelancer, nonprofit, or still figuring that out, we’ve got you covered.

LivePlan’s library of business plan samples has real business plans from 150 industries and growing. You can see the complete list here .

It’s OK if you can’t find an exact match to your business. You don’t need an exact match for a sample plan to be helpful. Instead, look for a plan that’s closely related to the type of business you’re starting. For example, if you want to start a vegetarian restaurant, a plan for a steakhouse will still be a great match.

While the specifics of your actual business will differ, the elements you’ll want to include in your restaurant’s business plan are similar—and they’re all included in LivePlan .

Real business plan examples to save you time

Read through as many sample business plans as you like to see how it’s done and get inspired. And if you really want to, you can even copy and paste sections to use in your own plan.

We’ve collected sample plans over more than 20 years, most through generous donations from happy customers who used our software and wanted to share their successful business plan samples with others.

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Are you an educator looking for real–world business plan examples for your students? With LivePlan, you give your students access to industry–best business plan samples, and help them set goals and track metrics with spreadsheet–free financial forecasts. All of this within a single tool that includes additional instructional resources to work seamlessly alongside your current classroom setup.

With LivePlan, it’s not just a classroom project. It’s your students planning for their futures. Click here to learn more about business planning for students.

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How to Write a Business Plan (Plus Examples & Templates)

• 3 years ago

Have you ever wondered how to write a business plan step by step? Mike Andes, told us: 

This guide will help you write a business plan to impress investors.

Throughout this process, we’ll get information from Mike Andes, who started Augusta Lawn Care Services when he was 12 and turned it into a franchise with over 90 locations. He has gone on to help others learn how to write business plans and start businesses.  He knows a thing or two about writing  business plans!

We’ll start by discussing the definition of a business plan. Then we’ll discuss how to come up with the idea, how to do the market research, and then the important elements in the business plan format. Keep reading to start your journey!

What Is a Business Plan?

A business plan is simply a road map of what you are trying to achieve with your business and how you will go about achieving it. It should cover all elements of your business including: 

• Finding customers
• Plans for developing a team
•  Competition
• Legal structures
• Key milestones you are pursuing

If you aren’t quite ready to create a business plan, consider starting by reading our business startup guide .

Get a Business Idea

Before you can write a business plan, you have to have a business idea. You may see a problem that needs to be solved and have an idea how to solve it, or you might start by evaluating your interests and skills. 

Mike told us, “The three things I suggest asking yourself when thinking about starting a business are:

• What am I good at?
• What would I enjoy doing?
• What can I get paid for?”

If all three of these questions don’t lead to at least one common answer, it will probably be a much harder road to success. Either there is not much market for it, you won’t be good at it, or you won’t enjoy doing it. 

As Mike told us, “There’s enough stress starting and running a business that if you don’t like it or aren’t good at it, it’s hard to succeed.”

If you’d like to hear more about Mike’s approach to starting a business, check out our YouTube video

Conduct Market Analysis

Market analysis is focused on establishing if there is a target market for your products and services, how large the target market is, and identifying the demographics of people or businesses that would be interested in the product or service. The goal here is to establish how much money your business concept can make.

Product and Service Demand

A search engine is your best friend when trying to figure out if there is demand for your products and services. Personally, I love using presearch.org because it lets you directly search on a ton of different platforms including Google, Youtube, Twitter, and more. Check out the screenshot for the full list of search options.

With quick web searches, you can find out how many competitors you have, look through their reviews, and see if there are common complaints about the competitors. Bad reviews are a great place to find opportunities to offer better products or services. 

If there are no similar products or services, you may have stumbled upon something new, or there may just be no demand for it. To find out, go talk to your most honest friend about the idea and see what they think. If they tell you it’s dumb or stare at you vacantly, there’s probably no market for it.

You can also conduct a survey through social media to get public opinion on your idea. Using Facebook Business Manager , you could get a feel for who would be interested in your product or service.

 I ran a quick test of how many people between 18-65  you could reach in the U.S. during a week. It returned an estimated 700-2,000 for the total number of leads, which is enough to do a fairly accurate statistical analysis.

Identify Demographics of Target Market

Depending on what type of business you want to run, your target market will be different. The narrower the demographic, the fewer potential customers you’ll have. If you did a survey, you’ll be able to use that data to help define your target audience. Some considerations you’ll want to consider are:

• Other Interests
• Marital Status
• Do they have kids?

Once you have this information, it can help you narrow down your options for location and help define your marketing further. One resource that Mike recommended using is the Census Bureau’s Quick Facts Map . He told us,  

“It helps you quickly evaluate what the best areas are for your business to be located.”

How to Write a Business Plan

Now that you’ve developed your idea a little and established there is a market for it, you can begin writing a business plan. Getting started is easier with the business plan template we created for you to download. I strongly recommend using it as it is updated to make it easier to create an action plan. 

Each of the following should be a section of your business plan:

• Business Plan Cover Page
• Table of Contents
• Executive Summary
• Company Description
• Description of Products and Services

SWOT Analysis

• Competitor Data
• Competitive Analysis
• Marketing Expenses Strategy 

Pricing Strategy

• Distribution Channel Assessment
• Operational Plan
• Management and Organizational Strategy
• Financial Statements and/or Financial Projections

We’ll look into each of these. Don’t forget to download our free business plan template (mentioned just above) so you can follow along as we go. 

How to Write a Business Plan Step 1. Create a Cover Page

The first thing investors will see is the cover page for your business plan. Make sure it looks professional. A great cover page shows that you think about first impressions.

A good business plan should have the following elements on a cover page:

• Professionally designed logo
• Company name
• Mission or Vision Statement
• Contact Info

Basically, think of a cover page for your business plan like a giant business card. It is meant to capture people’s attention but be quickly processed.

How to Write a Business Plan Step 2. Create a Table of Contents

Most people are busy enough that they don’t have a lot of time. Providing a table of contents makes it easy for them to find the pages of your plan that are meaningful to them.

A table of contents will be immediately after the cover page, but you can include it after the executive summary. Including the table of contents immediately after the executive summary will help investors know what section of your business plan they want to review more thoroughly.

Check out Canva’s article about creating a  table of contents . It has a ton of great information about creating easy access to each section of your business plan. Just remember that you’ll want to use different strategies for digital and hard copy business plans.

How to Write a Business Plan Step 3. Write an Executive Summary

An executive summary is where your business plan should catch the readers interest.  It doesn’t need to be long, but should be quick and easy to read.

Mike told us,

How long should an executive summary bein an informal business plan?

For casual use, an executive summary should be similar to an elevator pitch, no more than 150-160 words, just enough to get them interested and wanting more. Indeed has a great article on elevator pitches .  This can also be used for the content of emails to get readers’ attention.

It consists of three basic parts:

• An introduction to you and your business.
• What your business is about.
• A call to action

Example of an informal executive summary 

One of the best elevator pitches I’ve used is:

So far that pitch has achieved a 100% success rate in getting partnerships for the business.

What should I include in an executive summary for investors?

Investors are going to need a more detailed executive summary if you want to secure financing or sell equity. The executive summary should be a brief overview of your entire business plan and include:

• Introduction of yourself and company.
• An origin story (Recognition of a problem and how you came to solution)
• An introduction to your products or services.
• Your unique value proposition. Make sure to include intellectual property.
• Where you are in the business life cycle
• Request and why you need it.

Successful business plan examples

The owner of Urbanity told us he spent 2 months writing a 75-page business plan and received a $250,000 loan from the bank when he was 23. Make your business plan as detailed as possible when looking for financing. We’ve provided a template to help you prepare the portions of a business plan that banks expect.

Here’s the interview with the owner of Urbanity:

When to write an executive summary?

Even though the summary is near the beginning of a business plan, you should write it after you complete the rest of a business plan. You can’t talk about revenue, profits, and expected expenditures if you haven’t done the market research and created a financial plan.

What mistakes do people make when writing an executive summary?

Business owners commonly go into too much detail about the following items in an executive summary:

• Marketing and sales processes
• Financial statements
• Organizational structure
• Market analysis

These are things that people will want to know later, but they don’t hook the reader. They won’t spark interest in your small business, but they’ll close the deal.

How to Write a Business Plan Step 4. Company Description

Every business plan should include a company description. A great business plan will include the following elements while describing the company:

• Mission statement
• Philosophy and vision
• Company goals

Target market

• Legal structure

Let’s take a look at what each section includes in a good business plan.

Mission Statement

A mission statement is a brief explanation of why you started the company and what the company’s main focus is. It should be no more than one or two sentences. Check out HubSpot’s article 27 Inspiring Mission Statement for a great read on informative and inspiring mission and vision statements. 

Company Philosophy and Vision

The company philosophy is what drives your company. You’ll normally hear them called core values.  These are the building blocks that make your company different. You want to communicate your values to customers, business owners, and investors as often as possible to build a company culture, but make sure to back them up.

What makes your company different?

Each company is different. Your new business should rise above the standard company lines of honesty, integrity, fun, innovation, and community when communicating your business values. The standard answers are corporate jargon and lack authenticity. 

Examples of core values

One of my clients decided to add a core values page to their website. As a tech company they emphasized the values:

•  Prioritize communication.
•  Never stop learning.
•  Be transparent.
•  Start small and grow incrementally.

These values communicate how the owner and the rest of the company operate. They also show a value proposition and competitive advantage because they specifically focus on delivering business value from the start. These values also genuinely show what the company is about and customers recognize the sincerity. Indeed has a great blog about how to identify your core values .

What is a vision statement?

A vision statement communicate the long lasting change a business pursues. The vision helps investors and customers understand what your company is trying to accomplish. The vision statement goes beyond a mission statement to provide something meaningful to the community, customer’s lives, or even the world.

Example vision statements

The Alzheimer’s Association is a great example of a vision statement:

A world without Alzheimer’s Disease and other dementia.

It clearly tells how they want to change the world. A world without Alzheimers might be unachievable, but that means they always have room for improvement.

Business Goals

You have to measure success against goals for a business plan to be meaningful. A business plan helps guide a company similar to how your GPS provides a road map to your favorite travel destination. A goal to make as much money as possible is not inspirational and sounds greedy.

Sure, business owners want to increase their profits and improve customer service, but they need to present an overview of what they consider success. The goals should help everyone prioritize their work.

How far in advance should a business plan?

Business planning should be done at least one year in advance, but many banks and investors prefer three to five year business plans. Longer plans show investors that the management team  understands the market and knows the business is operating in a constantly shifting market. In addition, a plan helps businesses to adjust to changes because they have already considered how to handle them.

Example of great business goals

My all time-favorite long-term company goals are included in Tesla’s Master Plan, Part Deux . These goals were written in 2016 and drive the company’s decisions through 2026. They are the reason that investors are so forgiving when Elon Musk continually fails to meet his quarterly and annual goals.

If the progress aligns with the business plan investors are likely to continue to believe in the company. Just make sure the goals are reasonable or you’ll be discredited (unless you’re Elon Musk).

You did target market research before creating a business plan. Now it’s time to add it to the plan so others understand what your ideal customer looks like. As a new business owner, you may not be considered an expert in your field yet, so document everything. Make sure the references you use are from respectable sources. 

Use information from the specific lender when you are applying for lending. Most lenders provide industry research reports and using their data can strengthen the position of your business plan.

A small business plan should include a section on the external environment. Understanding the industry is crucial because we don’t plan a business in a vacuum. Make sure to research the industry trends, competitors, and forecasts. I personally prefer IBIS World for my business research. Make sure to answer questions like:

• What is the industry outlook long-term and short-term?
• How will your business take advantage of projected industry changes and trends?
• What might happen to your competitors and how will your business successfully compete?

Industry resources

Some helpful resources to help you establish more about your industry are:

• Trade Associations
• Federal Reserve
• Bureau of Labor Statistics

Legal Structure

There are five basic types of legal structures that most people will utilize:

• Sole proprietorships
• Limited Liability Companies (LLC)

Partnerships

Corporations.

• Franchises.

Each business structure has their pros and cons. An LLC is the most common legal structure due to its protection of personal assets and ease of setting up. Make sure to specify how ownership is divided and what roles each owner plays when you have more than one business owner.

You’ll have to decide which structure is best for you, but we’ve gathered information on each to make it easier.

Sole Proprietorship

A sole proprietorship is the easiest legal structure to set up but doesn’t protect the owner’s personal assets from legal issues. That means if something goes wrong, you could lose both your company and your home.

To start a sole proprietorship, fill out a special tax form called a  Schedule C . Sole proprietors can also join the American Independent Business Alliance .

Limited Liability Company (LLC)

An LLC is the most common business structure used in the United States because an LLC protects the owner’s personal assets. It’s similar to partnerships and corporations, but can be a single-member LLC in most states. An LLC requires a document called an operating agreement.

Each state has different requirements. Here’s a link to find your state’s requirements . Delaware and Nevada are common states to file an LLC because they are really business-friendly. Here’s a blog on the top 10 states to get an LLC.

Partnerships are typically for legal firms. If you choose to use a partnership choose a Limited Liability Partnership. Alternatively, you can just use an LLC.

Corporations are typically for massive organizations. Corporations have taxes on both corporate and income tax so unless you plan on selling stock, you are better off considering an LLC with S-Corp status . Investopedia has good information corporations here .

There are several opportunities to purchase successful franchises. TopFranchise.com has a list of companies in a variety of industries that offer franchise opportunities. This makes it where an entrepreneur can benefit from the reputation of an established business that has already worked out many of the kinks of starting from scratch.

How to Write a Business Plan Step 5. Products and Services

This section of the business plan should focus on what you sell, how you source it, and how you sell it. You should include:

• Unique features that differentiate your business products from competitors
• Intellectual property
• Your supply chain
• Cost and pricing structure 

Questions to answer about your products and services

Mike gave us a list  of the most important questions to answer about your product and services:

• How will you be selling the product? (in person, ecommerce, wholesale, direct to consumer)?
• How do you let them know they need a product?
• How do you communicate the message?
• How will you do transactions?
• How much will you be selling it for?
• How many do you think you’ll sell and why?

Make sure to use the worksheet on our business plan template .

How to Write a Business Plan Step 6. Sales and Marketing Plan

The marketing and sales plan is focused on the strategy to bring awareness to your company and guides how you will get the product to the consumer.  It should contain the following sections:

SWOT Analysis stands for strengths, weaknesses, opportunities, and threats. Not only do you want to identify them, but you also want to document how the business plans to deal with them.

Business owners need to do a thorough job documenting how their service or product stacks up against the competition.

If proper research isn’t done, investors will be able to tell that the owner hasn’t researched the competition and is less likely to believe that the team can protect its service from threats by the more well-established competition. This is one of the most common parts of a presentation that trips up business owners presenting on Shark Tank .

SWOT Examples

Examples of strengths and weaknesses could be things like the lack of cash flow, intellectual property ownership, high costs of suppliers, and customers’ expectations on shipping times.

Opportunities could be ways to capitalize on your strengths or improve your weaknesses, but may also be gaps in the industry. This includes:

• Adding offerings that fit with your current small business
• Increase sales to current customers
• Reducing costs through bulk ordering
• Finding ways to reduce inventory
•  And other areas you can improve

Threats will normally come from outside of the company but could also be things like losing a key member of the team. Threats normally come from competition, regulations, taxes, and unforeseen events.

The management team should use the SWOT analysis to guide other areas of business planning, but it absolutely has to be done before a business owner starts marketing. 

Include Competitor Data in Your Business Plan

When you plan a business, taking into consideration the strengths and weaknesses of the competition is key to navigating the field. Providing an overview of your competition and where they are headed shows that you are invested in understanding the industry.

For smaller businesses, you’ll want to search both the company and the owners names to see what they are working on. For publicly held corporations, you can find their quarterly and annual reports on the SEC website .

What another business plans to do can impact your business. Make sure to include things that might make it attractive for bigger companies to outsource to a small business.

Marketing Strategy

The marketing and sales part of business plans should be focused on how you are going to make potential customers aware of your business and then sell to them.

If you haven’t already included it, Mike recommends:

“They’ll want to know about Demographics, ages, and wealth of your target market.”

Make sure to include the Total addressable market .  The term refers to the value if you captured 100% of the market.

Advertising Strategy

You’ll explain what formats of advertising you’ll be using. Some possibilities are:

• Online: Facebook and Google are the big names to work with here.
• Print : Print can be used to reach broad groups or targeted markets. Check out this for tips .
• Radio : iHeartMedia is one of the best ways to advertise on the radio
• Cable television : High priced, hard to measure ROI, but here’s an explanation of the process
• Billboards: Attracting customers with billboards can be beneficial in high traffic areas.

You’ll want to define how you’ll be using each including frequency, duration, and cost. If you have the materials already created, including pictures or links to the marketing to show creative assets.

Mike told us “Most businesses are marketing digitally now due to Covid, but that’s not always the right answer.”

Make sure the marketing strategy will help team members or external marketing agencies stay within the brand guidelines .

This section of a business plan should be focused on pricing. There are a ton of pricing strategies that may work for different business plans. Which one will work for you depends on what kind of a business you run.

Some common pricing strategies are:

• Value-based pricing – Commonly used with home buying and selling or other products that are status symbols.
• Skimming pricing – Commonly seen in video game consoles, price starts off high to recoup expenses quickly, then reduces over time.
• Competition-based pricing – Pricing based on competitors’ pricing is commonly seen at gas stations.
• Freemium services –  Commonly used for software, where there is a free plan, then purchase options for more functionality.

HubSpot has a great calculator and blog on pricing strategies.

Beyond explaining what strategy your business plans to use, you should include references for how you came to this pricing strategy and how it will impact your cash flow.

Distribution Plan

This part of a business plan is focused on how the product or service is going to go through the supply chain. These may include multiple divisions or multiple companies. Make sure to include any parts of the workflow that are automated so investors can see where cost savings are expected and when.

Supply Chain Examples

For instance, lawn care companies  would need to cover aspects such as:

• Suppliers for lawn care equipment and tools
• Any chemicals or treatments needed
• Repair parts for sprinkler systems
• Vehicles to transport equipment and employees
• Insurance to protect the company vehicles and people.

Examples of Supply Chains

These are fairly flat supply chains compared to something like a clothing designer where the clothes would go through multiple vendors. A clothing company might have the following supply chain:

• Raw materials
• Shipping of raw materials
• Converting of raw materials to thread
• Shipping thread to produce garments
• Garment producer
• Shipping to company
• Company storage
• Shipping to retail stores

There have been advances such as print on demand that eliminate many of these steps. If you are designing completely custom clothing, all of this would need to be planned to keep from having business disruptions.

The main thing to include in the business plan is the list of suppliers, the path the supply chain follows, the time from order to the customer’s home, and the costs associated with each step of the process.

According to BizPlanReview , a business plan without this information is likely to get rejected because they have failed to research the key elements necessary to make sales to the customer.

How to Write a Business Plan Step 7. Company Organization and Operational Plan

This part of the business plan is focused on how the business model will function while serving customers.  The business plan should provide an overview of  how the team will manage the following aspects:

Quality Control

• Legal environment

Let’s look at each for some insight.

Production has already been discussed in previous sections so I won’t go into it much. When writing a business plan for investors, try to avoid repetition as it creates a more simple business plan.

If the organizational plan will be used by the team as an overview of how to perform the best services for the customer, then redundancy makes more sense as it communicates what is important to the business.

Quality control policies help to keep the team focused on how to verify that the company adheres to the business plan and meets or exceeds customer expectations.

Quality control can be anything from a standard that says “all labels on shirts can be no more than 1/16″ off center” to a defined checklist of steps that should be performed and filled out for every customer.

There are a variety of organizations that help define quality control including:

• International Organization for Standardization – Quality standards for energy, technology, food, production environments, and cybersecurity
• AICPA – Standard defined for accounting.
• The Joint Commission – Healthcare
• ASHRAE – HVAC best practices

You can find lists of the organizations that contribute most to the government regulation of industries on Open Secrets . Research what the leaders in your field are doing. Follow their example and implement it in your quality control plan.

For location, you should use information from the market research to establish where the location will be. Make sure to include the following in the location documentation.

• The size of your location
• The type of building (retail, industrial, commercial, etc.)
• Zoning restrictions – Urban Wire has a good map on how zoning works in each state
• Accessibility – Does it meet ADA requirements?
• Costs including rent, maintenance, utilities, insurance and any buildout or remodeling costs
• Utilities – b.e.f. has a good energy calculator .

Legal Environment

The legal requirement section is focused on defining how to meet the legal requirements for your industry. A good business plan should include all of the following:

• Any licenses and/or permits that are needed and whether you’ve obtained them
• Any trademarks, copyrights, or patents that you have or are in the process of applying for
• The insurance coverage your business requires and how much it costs
• Any environmental, health, or workplace regulations affecting your business
• Any special regulations affecting your industry
• Bonding requirements, if applicable

Your local SBA office can help you establish requirements in your area. I strongly recommend using them. They are a great resource.

Your business plan should include a plan for company organization and hiring. While you may be the only person with the company right now, down the road you’ll need more people. Make sure to consider and document the answers to the following questions:

• What is the current leadership structure and what will it look like in the future?
• What types of employees will you have? Are there any licensing or educational requirements?
• How many employees will you need?
• Will you ever hire freelancers or independent contractors?
• What is each position’s job description?
• What is the pay structure (hourly, salaried, base plus commission, etc.)?
• How do you plan to find qualified employees and contractors?

One of the most crucial parts of a business plan is the organizational chart. This simply shows the positions the company will need, who is in charge of them and the relationship of each of them. It will look similar to this:

Our small business plan template has a much more in-depth organizational chart you can edit to include when you include the organizational chart in your business plan.

How to Write a Business Plan Step 8. Financial Statements 

No business plan is complete without financial statements or financial projections. The business plan format will be different based on whether you are writing a business plan to expand a business or a startup business plan. Let’s dig deeper into each.

Provide All Financial Income from an Existing Business

An existing business should use their past financial documents including the income statement, balance sheet, and cash flow statement to find trends to estimate the next 3-5 years.

You can create easy trendlines in excel to predict future revenue, profit and loss, cash flow, and other changes in year-over-year performance. This will show your expected performance assuming business continues as normal.

If you are seeking an investment, then the business is probably not going to continue as normal. Depending on the financial plan and the purpose of getting financing, adjustments may be needed to the following:

• Higher Revenue if expanding business
• Lower Cost of Goods Sold if purchasing inventory with bulk discounts
• Adding interest if utilizing financing (not equity deal)
• Changes in expenses
• Addition of financing information to the cash flow statement
• Changes in Earnings per Share on the balance sheet

Financial modeling is a challenging subject, but there are plenty of low-cost courses on the subject. If you need help planning your business financial documentation take some time to watch some of them.

Make it a point to document how you calculated all the changes to the income statement, balance sheet, and cash flow statement in your business plan so that key team members or investors can verify your research.

Financial Projections For A Startup Business Plan

Unlike an existing business, a startup doesn’t have previous success to model its future performance. In this scenario, you need to focus on how to make a business plan realistic through the use of industry research and averages.

Mike gave the following advice in his interview:

Financial Forecasting Mistakes

One of the things a lot of inexperienced people use is the argument, “If I get one percent of the market, it is worth $100 million.” If you use this, investors are likely to file the document under bad business plan examples.

Let’s use custom t-shirts as an example.

Credence Research estimated in 2018 there were 11,334,800,000 custom t-shirts sold for a total of $206.12 Billion, with a 6% compound annual growth rate.

With that data,  you can calculate that the industry will grow to $270 Billion in 2023 and that the average shirt sold creates $18.18 in revenue.

Combine that with an IBIS World estimate of 11,094 custom screen printers and that means even if you become an average seller, you’ll get .009% of the market.

Here’s a table for easier viewing of that information.

The point here is to make sure your business proposal examples make sense.

You’ll need to know industry averages such as cost of customer acquisition, revenue per customer, the average cost of goods sold, and admin costs to be able to create accurate estimates.

Our simple business plan templates walk you through most of these processes. If you follow them you’ll have a good idea of how to write a business proposal.

How to Write a Business Plan Step 9. Business Plan Example of Funding Requests

What is a business plan without a plan on how to obtain funding?

The Small Business Administration has an example for a pizza restaurant that theoretically needed nearly $20k to make it through their first month.

In our video, How to Start a $500K/Year T-Shirt Business (Pt. 1 ), Sanford Booth told us he needed about $200,000 to start his franchise and broke even after 4 months.

Freshbooks estimates it takes on average 2-3 years for a business to be profitable, which means the fictitious pizza company from the SBA could need up to $330k to make it through that time and still pay their bills for their home and pizza shop.

Not every business needs that much to start, but realistically it’s a good idea to assume that you need a fairly large cushion.

Ways to get funding for a small business

There are a variety of ways to cover this. the most common are:

• Bootstrapping – Using your savings without external funding.
• Taking out debt – loans, credit cards
• Equity, Seed Funding – Ownership of a percentage of the company in exchange for current funds
• Crowdsourcing – Promising a good for funding to create the product

Keep reading for more tips on how to write a business plan.

How funding will be used

When asking for business financing make sure to include:

• How much to get started?
• What is the minimum viable product and how soon can you make money?
• How will the money be spent?

Mike emphasized two aspects that should be included in every plan, 

How to Write a Business Plan Resources

Here are some links to a business plan sample and business plan outline. 

• Sample plan

It’s also helpful to follow some of the leading influencers in the business plan writing community. Here’s a list:

• Wise Plans –  Shares a lot of information on starting businesses and is a business plan writing company.
• Optimus Business Plans –  Another business plan writing company.
• Venture Capital – A venture capital thread that can help give you ideas.

How to Write a Business Plan: What’s Next?

We hope this guide about how to write a simple business plan step by step has been helpful. We’ve covered:

• The definition of a business plan
• Coming up with a business idea
• Performing market research
• The critical components of a business plan
• An example business plan

In addition, we provided you with a simple business plan template to assist you in the process of writing your startup business plan. The startup business plan template also includes a business model template that will be the key to your success.

Don’t forget to check out the rest of our business hub .

Have you written a business plan before? How did it impact your ability to achieve your goals?

Brandon Boushy

Brandon Boushy lives to improve people’s lives by helping them become successful entrepreneurs. His journey started nearly 30 years ago. He consistently excelled at everything he did, but preferred to make the rules rather than follow him. His exploration of self and knowledge has helped him to get an engineering degree, MBA, and countless certifications. When freelancing and rideshare came onto the scene, he recognized the opportunity to play by his own rules. Since 2017, he has helped businesses across all industries achieve more with his research, writing, and marketing strategies. Since 2021, he has been the Lead Writer for UpFlip where he has published over 170 articles on small business success.

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2 thoughts on “How to Write a Business Plan (Plus Examples & Templates)”

My Name is PRETTY NGOMANE. A south African female. Aspiring to do farming. And finding a home away from home for the differently abled persons in their daily needs.

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Small Business Plan Templates, Outlines & Examples.

Click Finish My Plan Fast below to create a professional business plan in only 1 day, guaranteed, using our fill-in-the blank business plan template. Or, click the menu items above for help with any section of your plan.

We Make Business Plans Easy

Interested in learning more about turning your business idea into a business plan? Click the icons below to learn more using our templates, resources, and blog articles.

Templates and information for every aspect of your business plan.

Resources to help you build your business around your business plan.

Explore articles that dig into various aspects of business plans to enhance your skill set.

Turn Your Business Idea Into A Business Plan

There’s no getting around it; having a business plan will significantly increase your chances of success. This is especially true in the early stages when you’ll be looking for funding, establishing relationships with vendors and suppliers, and hiring people. A business needs a plan.

Business planning is the core of writing a plan.  Whether you only create a lean business plan or just the executive summary, the business planning process will serve you well. Small business owners are often short on time or cash and overlook the importance of properly planning.  Start with the free business plan templates available on this site and you’ll see how much there is to be gained.

A business plan serves as a roadmap for your company. Nobody benefits more from a business plan than the founder who creates it. Writing a business plan will force critical thinking into your goals and strategies.

When complete, it will provide a comprehensive overview of your business.

Creating a business plan may seem daunting, but several small business plan templates are available that can make the process easier and more efficient.

Benefits of Using Small Business Plan Templates

Creating a business plan from scratch can be a time-consuming and overwhelming task. However, using a business plan template can make the process faster, easier, and less expensive. There are several benefits.

When you look at a business plan outline, you can tell in minutes where you’re prepared and where you will need to dig in. At a minimum, you’ll go from not knowing what you don’t know, to knowing what you don’t know. That’s a big step forward and the foundation for confidence, even if there’s much work to do.

The structured approach provided by a business plan template lets you know from the beginning about the work ahead. You’ll have a measured sense of completion and you’ll develop an understanding of how the pieces fit together.

You will save time by starting with a template, mainly because you won’t spend much time wondering if you’re on the right track. Many well-written templates will include sections that do not apply to your business. For example, if you’re starting a restaurant, you probably won’t need a section on research and development or intellectual property. You might–but you’ll know when you see how they are addressed in the template.

Many free and low-cost business plan templates are available on the internet, so you’ll save time and money. Compared with services that will write your plan for you, or even business plan software, you can save hundreds or even thousands of dollars.

Best of all, writing your business plan using a professional template will guide you into critical thinking about your business that others will surely ask. Even if things don’t go as planned, you’ll be equipped first to see that and, secondly, to pivot appropriately.

What is a Business Plan Template?

Business plan templates are plentiful on the internet. Some are simple lists with 10 to 12 section titles and a few bullet point items. That’s a business plan outline, not a template. That’s fine if it’s all you need, but a business plan template is more.

Business Plan Template Definition

A business plan template is a document that provides a framework for a complete business plan. A professional template will include headings and subheadings, with detailed line items to cover everything in each section. Beyond a simple outline, a template will prompt how to write each item, what to include, and what to avoid. A well-written business plan template is like having a business coach in your corner.

How to Find and Use a Business Plan Template

Step 1: find a template.

“Business plan template” is searched 60,000 times every month on Google. Finding a business plan template is not hard, but finding a highly credible one takes a little more effort.

Our business plan template  has been used by thousands of people to write a business plan. For all the obvious reasons, we suggest you start there .

We provide templates with step-by-step instructions for every section of your business plan, free, right on the website. From the home page, using the Templates top menu item , go directly to any section of your plan. Or, you can download the free business plan template that covers every section in order.

Step 2: Customize the Template for Your Type of Business

Once you have your template, review it with the specifics of your business in mind. Delete the sections that don’t apply to your business or industry. Where necessary (and that should be limited), add line items in sections where you’ll want to expand.

After just a short time of customizing the template to fit your needs, you should be able to look at the template and see precisely how your business plan will take shape.

Step 3: Write Your Plan

Go through the template and start creating your plan. Follow the prompts that are provided in each section. If there are good and bad examples, be sure to understand the differences.

You do not have to write the sections in any specific order. It’s essential to understand how the entire plan will come together, but you do not need to write the sections in the order that they will appear. You’ll motivate yourself if you start with the areas that come easily to you.

As that progress needle in your mind moves from left to right, you’ll gain confidence and momentum to carry you through. If you need to turn to others for help with specific sections, which is very common, you’ll feel proud that you have already made significant progress.

Step 4: Review and Revise

After you’ve gone through the entire template and drafted your complete business plan, step away and clear your mind. Then, return to your document and read it with a fresh perspective. How does it flow? What is the tone? Does it sound like you wrote it?

Now is the time to make your business plan sound like you. Consider replacing words that might have been provided in the template that don’t sound like something you would say. Replace them with words and phrases that are comfortable to you and perhaps more appropriate to your business.

Most word processors today go beyond spell-check and grammar check and can even make suggestions. Be sure to use the tools you have to polish your plan.

When this step is done, you have YOUR business plan!

Step 5: Take Your Business Plan for a Spin

Now that you’ve completed your business plan show it to a trusted advisor before you put it in front of your primary target audience. Your accountant, attorney, or friend, who is a successful business owner, would all be good examples.

Naturally, it’s okay to show your business plan to your significant other or a good friend. Yet, ask yourself, Do they have the perspective to offer sound advice on the business itself or the drafting of the plan?

There’s not much upside to showing your business plan to those who will feel compelled to tell you how great it is, even if they have no idea.

Step 6: Do What You Set Out to Do

Why were you writing your business plan? To get funding? To solicit partnerships? To hire key people? Now it’s time to show your document to those people and let it do its job. Whenever you send your business plan, follow these guidelines:

• Let them know it is coming and why you are sending it.
• At the same time you send the plan, ask to schedule a time to discuss their thoughts, allowing enough time for them to read it
• Follow through on the “What are your thoughts” meeting and be open-minded. Many very successful entrepreneurs tell stories of sending their plan to five, ten, twenty or more people before achieving their objective. Stay positive, be open-minded, and carry on. That’s what successful entrepreneurs do.

Step 7: Don’t Let Your Business Plan Get Stale

Keep your business plan up to date as time goes by. Even if you don’t think you’ve made any changes to your business, go back and review the plan at least annually. Even if you have not changed things in your business, the world around us is changing faster and faster.

It’s essential to consider your business plan from the perspective of how things are today.

What Should a Business Plan Template Include

Some people ask how to write a business plan that you know is good if you’re using someone else’s template. First, be sure to select a source for your template that is credible. Next, compare their template to the business plan format below.

Any modern business plan template would have detailed templates for all of the sections below at a minimum:

Executive Summary:

A summary of your business plan that can be read very quickly. One to two pages is typical. More than five is too long. Provide an overview of your business, including a compelling statement about the value you bring to the market, your strategies and your goals.

Company Description

The company description provides a more detailed overview of your business, including its history or a statement indicating it is a startup, current ownership structure, and the type of legal entity you’ve selected.

Market Analysis and Target Market

Provide an overview of your target market, including its size, demographics, and buying habits. Include an analysis of your competition.

Products and Services

This section provides a detailed description of your products and services. It should include details on your pricing, delivery, and production.

Marketing Plan and Sales Strategies

The marketing and sales strategies section outlines how you plan to market and sell your products and services. This is often called your go-to-market strategy. Include a detailed analysis of your target audience and your marketing channels.

Management Team

Provide min-bios on the management team, including their experience, qualifications, and responsibilities.

Operating Plan

Demonstrate that you have a vision for how your people will deliver on everything required to source or create your products, market your services to your prospective customers, and support your customers. The operating plan is where it all comes together.

Financial Statements and Projections

The financial projections section of your business plan provides a detailed analysis, complete with spreadsheet tables in printed form, of your business’s financial projections. Every business plan should include an income statement, balance sheet, and cash flow analysis. A sources and uses of funds table is also beneficial for your overall financial plan.

Should I Use Business Plan Software?

Using business plan software to generate your plan has its advantages and disadvantages. Here are some of the pros and cons to consider:

• Convenience: Business plan software can be a convenient solution for entrepreneurs who don’t have the time or expertise to create a plan from scratch. Most software programs offer templates and pre-populated sections that can help you get started quickly.
• Professional look: Business plan software can help you create a professional-looking document with charts, graphs, and other visual aids that can impress potential investors or lenders.
• Guidance: Many business plan software programs offer guidance and tips for creating an effective plan, including advice on financial projections, market research, and marketing strategies.
• Collaboration: Some business plan software programs allow multiple users to collaborate on a single plan, making it easier for teams to work together to create a comprehensive document.
• Cost: Business plan software can be expensive, with some programs costing several hundred dollars per year. Recently, most providers have gone to charging monthly recurring fees. For entrepreneurs on a tight budget, there are other options.
• Limited customization: While templates can be convenient, they may not be customizable enough to fit the specific needs of your business. This could lead to a generic, cookie-cutter plan that doesn’t accurately represent your vision.
• Learning curve: Business plan software can have a learning curve. Just when you’re trying to learn to write a business plan, now you must learn a new software program too.
• Over-reliance: Relying too heavily on business plan software can lead to a lack of critical thinking and understanding of your business. It’s important to remember that your business plan should be a reflection of your unique business and vision, not just a generic template.

Remember the Business Plan Software You Already Have

The two most important software programs that will help you write your business plan, you probably already have! Microsoft Word and Microsoft Excel are the two most common tools to draft, fine-tune and finish your business plan.

When you start with a business plan outline or template, your next steps are to use Word and Excel to craft your plan. You’ll be getting the help you need on writing the business plan and using the software you already own and know how to use.

It’s hard enough to write a business plan, without having to learn how to use and pay for a new software program at the same time. Start with what you have.

Finish Your Business Plan in One Day

We now offer a quick way to use all the best practices of creating a business plan in a fraction of the time.  Our fill-in-the-blank business plan template follows all the guidelines on the SmallBusinessPlans.com site and will help you finish your business plan in 1 day.  Thousands of current and future business owners have used our formula to complete their professional business plan quickly and easily.  You can too. From the executive summary to the closing details, you’ll cover it all and we’ll guide you through the process. 

You Can Write Your Own Business Plan

It’s all here! Use the Templates Menu above for detailed information, outlines, and examples for each section. You’ll find it easy to create an effective yet simple business plan. Your plan will have you ready to start, grow and succeed in your new business. The number one reason people don’t start (or finish) their business plan is that they just aren’t sure where to begin. Now you’ve found it!

Our templates and resources cover everything expected in traditional business plans.  You’ll have a winning business plan complete with financial forecasts, cash flow statements, and a marketing section complete with your value proposition and unique selling proposition. Your executive summary will wow your readers and you will sound like a seasoned business owner.  Best of all, you’ll really understand it because everything is clearly explained.

You will learn how to write a business plan that makes you look like a pro! The business plan outline for each section will show you how to create a professional business plan quickly and easily. Whether you need to learn how to write a business plan for the first time or you just need a refresher, we’re confident you’ll find what you need right here.

Not Enough Time? Use Our Fill-in-the-Blank Business Plan Template

• A total, cover-to-cover template
• Microsoft Word format so you can edit quickly and easily
• Web links, built-in, that allow extensive help for every section
• Step-by-step instructions so you always know what to do

Click Here to Learn More

How to Get Started

If you want to start a business, you are about to embark on a life-changing opportunity. This is an exciting time, full of fun and interesting experiences, but it is also rather challenging. However, you can be prepared for this by creating a small business plan. This step is crucial, and if you skip it, you are risking the ultimate success of your business.

While it takes a lot of work to complete a business plan outline, it is good work, and it is worth it in the end. You will be glad you invested this time when you find yourself confronted with a difficult situation down the road.

Ready to complete your business plan in just 1 day?

Click GET STARTED to learn more about our fill-in-the-blank business plan template.  We'll step you through all the details you need to develop a professional business plan in just one day!

Successfully used by thousands of people starting a business and writing a business plan.  It will work for you too!

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2024 Basic Business Plan Template for Small Business Owners

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Simple and Basic Business Plan Template for Small Businesses

Antonio Del Cueto, CPA

April 5, 2024

Did you know that 42% of small businesses fail within the first four years ? The dream of starting your own venture can quickly turn sour without a roadmap for success. That's where a business plan comes in. This article introduces a comprehensive business plan template designed to dramatically increase your odds of becoming a thriving statistic .

Studies show that businesses with a well-defined plan are twice as likely to survive beyond the five-year mark . This template will guide you through crafting a document that outlines your goals, target market, financial projections, and competitive edge. By dedicating time to planning, you'll gain a clearer understanding of your business concept, identify potential roadblocks , and attract investors who believe in your vision. So, ditch the guesswork and unlock the power of planning.

Are you in the process of starting your own business? Download FREE our business plan template here.

What is a Basic Business Plan Template and Why Do You Need One?

A business plan template is a step-by-step guide that helps you create a plan for your business. It's like a map for your 2024 startup journey. This template shows you what to do first, next, and last. You need one because it helps you think about all the important parts of your business upfront.

Importance of Having a Business Plan Template

A business plan template is crucial. It helps you outline your value proposition, which is what makes your business special. It also makes sure you think about your potential investors. They want to see a clear plan before they give you money. Plus, a template helps you organize your thoughts and ideas in one place.

Key Sections of a Simple Business Plan Template

In a basic template , there are some key elements you can't skip. These include a company description that tells people what you do. You also need a marketing strategy to explain how you'll find customers. Don't forget about competitive analysis, which shows how you stack up against others. Finally, financial forecasts predict your money flow, and supporting documents back up everything you say.

How to Tailor a Business Plan Template for Your 2024 Startup

To customize a business plan for your startup, start with the high-level stuff. Add your unique company description and value proposition. Show how you're different to get a competitive advantage. Update the marketing strategy to fit today's world. Make sure your financial forecasts are fresh and include all costs and expected income. Add any new documents that support your plan.

Remember, a good business plan template guides you but doesn't limit you. Always include what makes your business shine and use the template to help you organize your great ideas.

Essential Components of a Startup Business Plan

Starting a new business? You’ll need a plan that shows what your business is about and how you plan to make it successful. Let's look at what makes up a good business plan.

Writing an Effective Executive Summary

The executive summary is like a quick snapshot of your business plan. It shows the big ideas of your plan in a short way. Even though it's the first thing in your plan, you might write it last. It should say what your business does, what you want to achieve, and why it's going to work. This part is super important because it’s what people read first to get an idea about your business.

Developing a Comprehensive Marketing Plan

Your marketing plan is all about how you’re going to tell people about your business and what you sell. It should talk about who might want to buy your stuff and how you plan to reach them. This part includes your plan of action for getting customers to notice you, like using social media or putting ads online. Knowing your customers and how to reach them helps your business grow.

Creating a Financial Projection for Your Small Business

This section is about the money. It guesses how much money you’ll make and spend. Financial projections help you see if your business can earn more money than it spends. It includes how much money you need upfront to start and keep running your business. This helps you and business partners see how your business might do in the future.

For anyone thinking about starting a business, these parts of a business plan are key. They help you write a business plan quickly and efficiently. With a good plan, you can support your business, get help from others, and have a clear roadmap to run your business.

Further Reading: What You Should Know About Small Business Accounting, Tax, And Bookkeeping Services

Tips for crafting a one-page business plan.

Creating a one-page business plan is like drawing a map that shows the way to success for your specific business. This short plan helps you focus on what's really important. It saves time and lets you get moving faster.

Benefits of Using a Lean Business Model

A lean business model is all about making things simple and focusing on what works. It helps you use resources wisely. Free templates for lean business plans help you organize your ideas without wasting time. It’s essential to be clear and straight to the point, so you don’t get lost in details.

Identifying Your Target Market in a One-Page Business Plan

Knowing who you’re selling to is key. Your one-page plan should clearly say who your customers are. You’ll need to research and use that info to make your marketing and sales work better. This part of your plan makes sure your business talks to the right people.

Streamlining Revenue Streams in a Lean Business Plan

A lean plan means having a clear idea of how you’ll make money. This part of the plan looks at different ways to bring in cash, from selling products to offering services. It’s about picking the best ways that fit your business and focusing on them for the next three to five years. Using a standard template, like one from Microsoft Word or free templates available online, can help you get this part right.

Utilizing Free Business Plan Templates: Pros and Cons

Using a free business plan template is like finding a treasure map that guides you to your business goals. Let’s see how these templates can be both helpful and challenging.

How a Free Business Plan Template Can Help Small Business Owners

A free simple business plan or a one-page business plan template can be a huge help. It gives you a clear outline of what to include, like your business needs, marketing and sales strategies, and financial data. Templates from sources like the Small Business Administration (SBA) or Shopify come with sections already set up for you. This makes it easier to organize your ideas and present them clearly. It’s essential for owners of specific businesses to have a roadmap. This way, you can build your business plan quickly and efficiently, focusing on elements of your plan that support your financial success. Free templates help you get started with little effort and no cost.

Exploring Sample Business Plans to Guide Your Business Planning Efforts

Looking at sample business plans can provide valuable insights. These examples show you different ways to format and write your plan. They cover various industries, giving you a peek at successful strategies and outcomes. By exploring these samples, you can learn tips for creating important sections like income statements , cash on hand, and even plans for intellectual property like patent filings. Whether you use a standard template from Microsoft Word or detailed guides for specific types of businesses, such as a limited liability company, these samples can inspire and guide you. They offer a comprehensive view of what a successful plan includes, from the table of contents to the final financial statements, helping you envision the path for your own business over three to five years.

Further Reading: Effective Balance Sheet Creation for Small Businesses: Simplified Templates and Guidelines

Key takeaways:.

• Summary : A quick explanation of your business idea, like telling a friend about a game plan.
• Market Analysis : Understanding who wants to buy what you're selling, similar to figuring out who loves chocolate ice cream.
• Product/Service : What you're selling or offering, like selling cool stickers or helping with homework.
• Marketing Plan : How you'll tell people about your business, like making posters for your lemonade stand.
• Financial Plan : Planning your money, figuring out how much you need to start, and how you'll earn more, like saving up for a new bike.

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Tickmark, Inc. and its affiliates do not provide legal, tax or accounting advice. The information provided on this website does not, and is not intended to, constitute legal, tax or accounting advice or recommendations. All information prepared on this site is for informational purposes only, and should not be relied on for legal, tax or accounting advice. You should consult your own legal, tax or accounting advisors before engaging in any transaction. The content on this website is provided “as is;” no representations are made that the content is error-free.

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70 Small Business Ideas for Anyone Who Wants to Run Their Own Business

Published: March 19, 2024

A good business idea may seem hard to come by, but with some planning and preparation, you can easily launch a small business to supplement your income — or become your own full-time boss.

Maybe you already have an idea of the business you’d like to start. But while you might feel ready for a new venture and passionate about your idea, you might be looking for some direction.

To help get you started, here's a list of small business ideas separated into a few sections:

• What makes a good small business?

Best Small Business Ideas

Best businesses to start with little money, home business ideas.

• Online Businesses Ideas

Easy Businesses to Start

Business ideas for students, creative small business ideas, how to start a small business at home, starting a small business: faq.

The first step to becoming a successful entrepreneur is finding a business idea that works for you. In this article, you’ll find dozens of small business ideas you can start from home and scale up as your clientele grows. Let’s get started.

What makes a good small business idea?

Not all small business ideas are made equal: Some require more effort and funding than others, while some can be launched with few resources — or resources you already have. As a potential small business owner, you’ll want to save as much money as possible on training, rent, supplies, and other necessities.

Let’s go over what makes a good business idea:

• Requires little to no training . A good small business idea will ideally leverage your existing field of expertise and require little to no training. That will not only shorten your time-to-launch, but also lessen your expenses, since training courses can cost a significant amount of money. Plus, you’ll be more confident offering services that you feel prepared to deliver.
• Requires low setup costs. Your business should be cheap to start. Maybe you only need to purchase a website domain or buy a desk for your garage.
• Requires little hands-on inventory or supply management . A great business idea needs few supplies and little inventory management. If you want to sell physical goods, you can either try drop-shipping and manually make goods in small batches.
• Is based online . The best small business ideas are based online and can be carried out from your personal computer. This will automatically lower your commuting costs and give you greater flexibility over your personal and work life.
• Can sustainably be managed by few people . As a small business owner, you won’t have the funds to hire other people to help you run your business — at least not at first. A good business idea should give you the ability to run your business on your own.

Free Business Startup kit

9 templates to help you brainstorm a business name, develop your business plan, and pitch your idea to investors.

• Business Name Brainstorming Workbook
• Business Plan Template
• Business Startup Cost Calculator

You're all set!

Click this link to access this resource at any time.

Airbnb Co-founder, Brian Chesky, said, “If we tried to think of a good idea, we wouldn’t have been able to think of a good idea. You just have to find the solution for a problem in your own life.”

If you’re like Brian and you’ve already thought about a solution for a problem you encounter in your life — or you’re on the path to doing so — then starting a small business may be in your future. It may also be for you if you dream of clocking out of your nine-to-five job for the last time and becoming your own boss.

Below, we include the best ideas for you to start your small business — with resources and examples to help you get started.

1. Handyman

8. Life/Career Coach

If you have experience navigating career, personal, and social transitions successfully, put it to good use as a life or career coach. Many of us are looking for guidance in our careers — and finding someone with the time to mentor us can be tough.

Life/career coaches don’t come cheap, but they are able to offer clients the intense and hands-on training and advice they need to make serious moves in their personal and professional lives. After all, everyone needs some uplifting advice from time to time.

To start your life/career coaching business with confidence, you can look for a certification program (like the Life Coach School’s or Diane Hudson’s ), then apply your skills as you acquire new clients.

A resume writing business is economical, has few overhead costs, and has few educational requirements. We still recommend having an Associate’s or Bachelor’s degree and a few resume samples on hand. If you still feel that you need to brush up on your resume writing skills, you can take a course like Coursera’s or LinkedIn Learning’s .

Once you’ve gotten resume writing down, you can expand your business to include cover letter writing and even offer career coaching services in conjunction with these services.

10. Freelance Writer

If you have writing skills , there’s someone out there willing to pay you for them. Write blog posts, magazine articles, and website copy galore — just make sure you have a body of work built up to share with potential clients. Even if you create a few sample pieces to have on hand, they’ll help exhibit your work and attract new business.

To become a freelance writer, it’s essential to choose a specialty. For instance, you might choose to only write for publications in the healthcare industry (maybe because you were previously a healthcare worker) or focus on lifestyle publications. Whatever the case, specializing will help you find your niche market and gain confidence as a new freelancer writer.

There are no educational requirements for freelance writing, but you do need strong writing skills. It also helps to enjoy writing. While certification may be beneficial, getting practice and writing every day is more important. Try these writing prompts to start.

11. Landscaper

Mowing, tree-trimming, and seasonal decor are all neighborhood needs. If you have or can acquire the equipment, a landscaping business can be a lucrative affair. It’s also a great choice if you enjoy doing it for your own home and have a good eye for landscape design.

The good news is that you can start small. For instance, you could offer your neighbors seasonal planting services and start with a few perennial plants, or simply offer mulching services.

To grow your landscaping business, you should consider taking some formal training. The following organizations offer courses:

• New York Botanical Gardens

After completing a course and getting enough experience, you can apply for a certificate from a landscaping organization. While a certificate isn’t necessary to work in the field, it can build your credentials and help you make industry connections to take your landscaping business to the next level. The Association of Professional Landscape Designers offers one potential certificate you could pursue.

Some states require licensure, especially if you’ll be using pesticides and fertilizers. Be sure to review the requirements for your state.

Learn some of the basics now with this video on landscape design from Lowe’s:

12. Videographer

Video production requires you to have invested in the equipment up front, which can be quite expensive. But that’s also what makes your services so valuable. Make sure you have a reel of your work to share or create a website with several selections of your work available for interested viewers.

There are no educational or licensure requirements for starting a video production business. As with writing and other creative arts, though, it pays to specialize. Real estate videos differ radically from wedding videos, and wedding videos differ radically from in-studio interviews and testimonials. By specializing, you target a highly specific customer who’ll benefit the most from your services, and you can also skill-up more effectively in one shooting style.

While you can find general classes on videography, you should consider taking a class in the type of videography you’d like to do. For instance, you could take The Complete Wedding Videography Course .

Hot tip: If you’re interested in specializing in video marketing, check out The Ultimate Guide to Video Marketing and download our starter pack below.

13. Photographer

Start by conducting photo shoots for your family and friends. As you build a body of work, ask for referrals and reviews. Photography businesses often grow by word of mouth, so create a Facebook page where you can tag recent clients. Photos where you tag those clients will show up in their friends’ newsfeeds, where they can view your work. You can also ask them to leave reviews on your Facebook business page.

Like with a video production small business, you’ll want to specialize. Will you do product shoots or portraits? How about wedding or fashion photo shoots? Once you specialize, you’ll be able to create a body of work that most accurately represents your strengths.

There are no educational or licensure requirements for starting a small photography business. Still, we recommend investing in a few photography courses, especially if you haven’t used your camera in a while. Some courses you might start with include:

• Cornell’s Digital Photography Certificate Program
• New York Institute of Photography’s Course

From there, seek courses that help you build skills in your chosen specialty.

If you’re not sure where to start with freelance photography, take a look at Erica Clayton’s journey into the business below. Her advice? Give yourself a firm deadline to turn a profit.

14. Bed and Breakfast Owner

Some consulting industries are more competitive than others, so be sure to complete your research before starting a small consulting business. One way to find out how competitive a consulting niche is by doing keyword search . If your target niche is highly searched or is already dominated by big companies, you may have a harder time breaking in. You can use keyword research tools to uncover keyword volume and local demand.

12. Event Planner

An event planning business is an excellent choice if you have great organizational and interpersonal skills, and it’s relatively cheap to start. You might choose to specialize in a specific type of event — like weddings or company meetings — or set yourself up as an event planner of all trades.

The good news is that event planners are always in demand. It’s not an easily automated job, so this small business idea is set to thrive regardless of the digital landscape. To start, you’ll want to look for a platform that will easily allow you to advertise your availability, such as event planner directories like Eventective and WeddingWire .

If you’re highly organized, detail-oriented, and have experience planning large events, it might be time for others to benefit from your skills.

13. Personal Assistant

Personal assistants help business owners and executives take care of administrative tasks. To launch a freelance personal assistant business, you should leverage networking opportunities on LinkedIn and attend small business events at local chambers of commerce. Most local business owners might not even know they need a personal assistant until you market your services to them.

If you’re an organized, highly-detailed person, the life of a personal assistant might be for you. Don’t want to be tied to one office or person all day, every day? Consider becoming a virtual assistant, which allows you a more flexible work environment.

To become an assistant, choose a niche — will you be helping women business owners specifically? Do you have a specific field of expertise, like bookkeeping? A website can also go a long way, and be sure to print business cards for you to hand out during networking events.

14. Consignment Shop Owner

If you have an eye for style but don’t want to invest in the inventory of a brand-new boutique, consider starting a consignment shop. It will allow you to curate a collection of clothing that matches your goals and aesthetic without the overhead of a boutique selling entirely new garments.

The beauty of a small consignment business is that you can now start one online. You can sign up on a platform such as Poshmark , Depop , and even Etsy , then easily start selling your own used fashion from home.

Once you’ve defined your niche — such as vintage clothing, unique locally made art, or colorful shoes — you can begin sourcing new products from your local stores and thrift shops.

15. Caterer

If the personal chef gig is too restrictive for your schedule, consider catering instead. Pick your projects, work on fewer but larger events, and hone in on your time management skills.

Becoming a caterer is a natural step for those who are used to cooking for large events — for instance, you may have already catered your friend’s wedding or brought a 20-person meal to a potluck (that counts, too!).

It’s essential that you have enough temperature-regulated storage for the meals prior to each event, and that you arrange for reliable, temperature-controlled transportation to and from your home kitchen. Alternatively, you can lower your costs by inviting customers to pick up their order at your home.

16. Gym Owner

Kickboxing gyms, yoga studios, CrossFit, oh my! Turn your passion for fitness into a community for others by creating your own gym — start one from the ground up, become an affiliate, or open a franchise location.

Available franchise opportunities include Anytime Fitness, Orangetheory Fitness, Pure Barre, Planet Fitness, Crunch Fitness, and more. Be prepared to take out a loan to finance your franchise — most agreements start with fees upward of $20,000. But the payoff can be tremendous due to brand recognition. You’ll have no trouble recruiting new members as long as you use local marketing strategies .

Alternatively, you can create a local studio, but ideally, it should be for a specific activity instead of general fitness. Yoga, pilates, bootcamp-style gyms, and martial arts perform well as independent fitness studios.

17. Boutique Agency Owner

What’s your specialty? Whether it’s marketing, social media, or PR, it might be time to start your own agency. Many other small businesses need this type of help but don’t have the resources or volume to necessitate a full-time position.

To start an agency, you would ideally have worked in your specialty for a number of years. You should also be prepared to interface directly with clients, fulfill their requirements, and temper their expectations (if they want results in an unreasonably short amount of time).

Consider building a small team and learn from other entrepreneurs who’ve successfully started their own agencies, like Duane Brown of Take Some Risk .

18. Coffee Shop Owner

Turn your caffeine addiction into something a little more lucrative. Opening a franchise or buying an existing shop are lower-risk entry points to the coffee game, but they usually require a little more cash upfront. Starting a shop from scratch requires more planning and work — but it also maximizes your earning potential in the future.

A coffee shop is an excellent fit if you already have a full-time remote job and wish to supplement your income with a small business. You can manage the coffee shop as you work at one of the tables, but be sure to have the budget to hire an experienced barista who can pick up the slack.

If you would like to open a coffee shop and run it full-time on your own, you’ll need to undertake barista training, understand worldwide coffee sources, and have excellent customer service skills.

19. Moving Company

A truck, moving equipment, manpower, and the correct permits and insurance are the building blocks of starting your own moving company . Before you buy your first fleet of trucks, however, start small with a moving van and keep your costs low.

Still sound like too much of an initial investment? Consider offering packing services only, which have a much lower financial barrier to entry. You can partner with moving companies and offer to do their packing, or have them refer clients to you.

You could even take a niche approach to the industry as Astro International has by offering international moving services.

2. Vending Machine Owner

Since 2015, the growth rate for vending machine businesses has increased 1.4%. Even as social distancing restrictions are still in place, this business can still be lucrative if you choose the right locations. High-traffic is key — places like hospitals, schools, and community centers are smart places to start placing your machines to generate enough revenue to cover cost and turn a profit.

3. Social Media Manager

Do you have a knack for social media? As a social media manager, you can use your skills to manage the social media accounts for companies and even individual people. Influencer marketing has become more common and many influencers rely on marketing agencies or employees to help them run their social channels.

Online Business Ideas

If you want a business idea that you can run entirely online, check out the ones below. These ideas are ideal for those looking for a passive income stream. In other words, you shouldn’t need to do too much manual work to launch these businesses from your home or preferred business location.

1. Become an online reseller.

To become an online reseller, all you need is some business savvy and some funds to invest in product stock from manufacturers — or, of course,the willingness to sell your own used items. Generally, this is a low-touch but high-performance way of creating a passive income online business.

Online resellers usually use a platform, such as Facebook Marketplace or Amazon Sellers, to sell either their own or manufacturers’ stock. The benefit of using Facebook Marketplace is that you can begin today with your own Facebook account, and simply list items that you already own.

Interested buyers typically drive directly to your home for pick-up — but if you’re not interested in human interaction, you can leave it outside and have the buyer pay via an online platform.

Blogging is one of the most accessible small businesses to start, and there are countless niches to choose from. That said, because there are many blogs online, you’ll need to learn blog SEO and keyword research to ensure your audience finds you. That way, you actually make money out of your blogging efforts.

The great news is that a small blogging business has a ridiculously low overhead. All you need is a custom domain and your time for writing blog posts.

5. Home-Baked Goods Seller

Warehouse-made, store-bought chocolate chip cookies will never compare to a batch made with love in someone’s home. Simple desserts can be easily baked and packaged to sell at local events or around your neighborhood. Use custom labels and watch the word spread about your goods!

You can begin a baked goods business easily by opening a Facebook and Instagram profile. Facebook and Instagram are both excellent platforms to market your goods, show pictures of your previous baked products, and even showcase happy clients.

Build a loyal following slowly, and save on costs by asking clients to drive to your home to pick up their order. Choosing a niche can be helpful here, or baking in a specific style that can’t be found at grocery store bakeries. The overhead can be especially low if you already have most essential baking supplies.

6. Ecommerce Store Owner

Do you create, collect, or curate anything special? Consider starting an ecommerce store and turning your hobby into a full-time job. Whether you need somewhere to sell all that pottery you’ve been making, or an excuse to search for the sports memorabilia you love tracking down, an ecommerce store can make it financially viable for you to pursue your passion.

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Starting an ecommerce store is simple and easy. You can set up a shop using an ecommerce website builder , all of which start at a minimal monthly subscription (some even start at free). Be sure to take good photos of your products and write descriptive product pages .

If you don’t have inventory, you can always own an ecommerce store by using dropshipping . Instead of creating and shipping your products yourself, you’ll instead partner with a dropshipping website and have them mail out the orders directly to your client.

7. House Cleaner

With a low barrier to entry, house cleaning can be a great way to start doing what you love — soon. Consider advertising to homes in your neighborhood and get more bang for your buck by earning a few small businesses as clients as well. They’ll usually bring in a higher paycheck for a similar amount of work.

To become a house cleaner, you should be prepared to invest in cleaning supplies and accessories, or be willing to use your own. If you plan to serve small businesses, you should buy industrial janitorial supplies so you can get work done more effectively.

Need some inspiration? This small business cleaning service grew virtually overnight on Instagram after their content went viral during the pandemic.

Learn more about choosing the right structure for your business from the Small Business Administration.

6. Create a business bank account.

Once you have a legally formed business and have been issued an Employer Identification Number (EIN), open a bank account specifically for your business. Having a business bank account is essential for keeping your personal and business finances separate which can help you gain an accurate picture of your business’s cash flow and financial health.

Additionally, keeping your personal and business finances separate makes bookkeeping and tax preparation easier.

Many banks offer business checking and savings accounts. Business checking accounts typically do not have a limit on the number of transactions that can take place, and issue a debit card that can be used for making business purchases. However, these checking accounts do not accrue interest.

Business savings accounts typically earn interest over time but have a limited number of transactions that can occur each month. When you’re just starting out, look for a business bank account that does not have a minimum balance requirement so you are not penalized for having low funds as you work to build your business.

7. Determine if your business idea works well from home.

Ask yourself whether your business idea will work well from home. Some businesses simply aren’t suited to be based from home. If you want to run a dog boarding center but live in an apartment without a backyard, you might want to consider a dog walking business instead.

8. Set up an office.

If your business idea is well-suited for being run from home, it’s still important you have a designated workspace. While a home office might not be possible, consider setting aside a corner in your living room or putting a desk in your bedroom for a space that inspires you and creates the conditions for success.

Need a more professional space? If you conduct client-facing work requiring you to be on video calls, no one wants to see your rumpled sheets in the background. Check out local coworking spaces for memberships that earn you access to conference rooms, desk space, and more.

9. Get to work!

You’ve put in the hard work, but I’ve got bad news — it’s only going to get harder. But most entrepreneurs will agree that the payoff of being your own boss, making your own hours, and working on projects that you’re passionate about will pay dividends for the rest of your life.

What are the types of small businesses?

The types of small business structures are sole proprietorships, partnerships, limited liability companies (LLCs), and corporations.

• Sole Proprietorship — The simplest type of business structure is a sole proprietorship, which is also the easiest to start. As a sole proprietor, you are personally responsible for the business's liabilities and profits, and you have complete control over your business. If you are a solopreneur, you are automatically considered a sole proprietor.
• Partnership — A partnership is a business model involving two or more individuals who agree to share the business‘s profits and liabilities. Each partner contributes to the business and shares the risks and rewards. It’s essential to have a partnership agreement that defines each partner's roles and responsibilities to ensure clarity and prevent potential misunderstandings.
• Limited Liability Company (LLC) — An LLC, or limited liability company, is a common option for small businesses because it protects its owners by separating personal assets from the company's liabilities. To form an LLC, the business owner must file the required paperwork with the state.
• Corporation — A corporation is an independent legal entity distinct from its owners. It provides limited liability protection to its shareholders, who are not held personally accountable for the company's debts. Corporations have formal requirements and often raise capital by issuing stocks or shares.

Which business type is best?

The best business type is a limited liability company (LLC). Operating as an LLC means that your personal assets are separate from your business assets. If your business goes bankrupt, your personal holdings won’t be affected. That said, it’s also one of the costlier types, requiring a fee paid to the state.

The easiest business type to start is a sole proprietorship. The main downside is that there’s no differentiation between you and your business.

It's crucial to seek advice from legal or accounting professionals to determine the best business structure based on your unique needs and objectives. Each structure has advantages, legal requirements, tax implications, and flexibility considerations.

How do I create a business idea?

To create a business idea, determine your skill set, work preferences, startup budget, and available resources. It’s important to strike the right balance between what you can feasibly offer and what you can feasibly afford in the short and long term.

We recommend starting with your skill set so that you can easily determine the niche in which you can effectively compete. For instance, if you have ample experience as a writer, you might consider starting a freelance writing business. But if you know you’d prefer to work with clients face-to-face, you might choose to start a ghostwriting business instead. That’s why it’s so important to take your work preferences into account, as well.

After that, take a look at your budget and determine the type of business you can start based on the resources at your disposal. For instance, you might not be able to afford a physical office or location, so a location-based business will likely not be a good fit. In that case, starting an online business is your best option.

What resources or tools can I use to refine and validate my business ideas during the brainstorming process?

Online market research tools like Google Trends, Keyword Planner, and SEMrush can provide insights into market demand, competition, and keyword trends related to your business niche. Industry reports and market analyses from reputable sources such as IBISWorld, Gartner, Statista, and industry-specific publications can offer valuable data and trends to inform your decision-making. Ensure you know the industry risk before embarking on your small business venture.

→ Download Now: Market Research Kit [Free Download]

Additionally, joining entrepreneurial communities, forums, and social media groups can provide opportunities to seek feedback, network with like-minded people, and gain insights from experienced entrepreneurs. Finally, consider conducting surveys or interviews with potential customers to gather feedback and validate your business concept before investing significant time and resources.

What are some of the most successful small businesses?

Every small business has the potential to be successful and profitable, provided it’s backed by a strong product-market fit and a robust business plan . These two elements are essential. Maybe postnatal services are one of the most successful small businesses to launch, but if you live in an area with declining population or a large elderly population, then that small business idea won’t yield a high return on investment.

Think carefully about the market where you’re launching your business, and you’ll be more than likely to see lasting success.

What are the top growing small businesses?

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