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Business Plan Development Guide

(6 reviews)

business plan chapter 4 example

Lee Swanson, University of Saskatchewan

Copyright Year: 2017

Publisher: OPENPRESS.USASK.CA

Language: English

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Reviewed by Kevin Heupel, Affiliate Faculty, Metropolitan State University of Denver on 3/4/20

The text does a good job of providing a general outline about writing and developing a written business plan. All of the important steps and components are included. However, the text is light on details, examples, and rationale for each element... read more

Comprehensiveness rating: 3 see less

The text does a good job of providing a general outline about writing and developing a written business plan. All of the important steps and components are included. However, the text is light on details, examples, and rationale for each element of the business plan. Some examples from actual business plans would be helpful.

Content Accuracy rating: 4

For the most part, the content is accurate. The content covers all important aspects of drafting a business plan. I thought the industry analysis could use more information about collecting primary and secondary sources; instead, this information was referenced in the marketing plan section.

Relevance/Longevity rating: 5

Most of the content relies on cites as far back as 2006; however, when it comes to developing and writing a business plan nothing has changed. Thus, the content is current and there is no concern about it becoming obsolete in the near future.

Clarity rating: 4

The text is clear. There are no difficult terms used and the writing is simple. The text uses a lot of bullet points though, which gets tedious to read for a few pages.

Consistency rating: 5

The text does a good job of maintaining consistency in terms of framework and terminology. The text is organized where it's easy to find the information you want in a quick manner.

Modularity rating: 3

The text has a lot of bullet points and the paragraphs are dense. However, the use of subheading is excellent.

Organization/Structure/Flow rating: 5

The book is organized as if you're writing a business plan from start to finish, which is helpful as a practical guide.

Interface rating: 5

There are no navigation problems, distortion of images/charts, or any other display features that may distract or confuse the reader.

Grammatical Errors rating: 5

The text is free of grammatical errors. The sentence structure is simple with many bullet points, which helps to avoid any grammatical issues.

Cultural Relevance rating: 5

This book was written by a Canadian professor and provides references to Canadian sources. However, the information in this text can be used for U.S. schools.

This book is very short and provides a good, general overview about the process of creating and writing a business plan. It won't help a reader if he/she is confused about a certain part of the business plan. The reader will have to find another source, such as "Preparing Effective Business Plans" by Bruce Barringer, Ph.D. The book provides links to good resources and a finished business plan that the reader can reference. I would recommend the book for undergraduate courses.

business plan chapter 4 example

Reviewed by Kenneth Lacho, Professor of Management, The University of New Orleans on 6/19/18

1. Text is relevant to Canada. Not the United States 2. Needs to cover resources available to entrepreneur, e.g., federal government agencies, trade associations, chambers of commerce, economic development agencies. 3. Discuss local economy or... read more

1. Text is relevant to Canada. Not the United States 2. Needs to cover resources available to entrepreneur, e.g., federal government agencies, trade associations, chambers of commerce, economic development agencies. 3. Discuss local economy or economic area relevant to this proposed business. 4. Business model ok as a guide. 5. Suggested mission statement to cover: product/business, target customer, geographical area covered. 6. Need detailed promotion plan, e.g., personal selling, advertising, sales promotion, networking publicity, and social media. 7. How do you find the target market? 8. Chapter 6 too much detail on debt and equity financing. 9. Discuss how to find sources of financing, e.g., angels. 10. Expand coverage of bootstring, crowdfunding. 11. Chapter 4 – good checklist. 12. Chapter 3 - overlaps. 13. Chapter 7 – 3 pages of executive summary – double or single spaced typing. Number all tables, graphs. 14. Some references out-of-date, mostly academic. Bring in trade magazines such as Entrepreneur.

Content Accuracy rating: 5

In my opinion, the content is accurate and error free.

Relevance/Longevity rating: 4

The material is relevant to writing a business plan. I wonder if the Porter, SWOT VRIO, etc. material is too high level for students who may not be seniors or have non-business degrees (e.g., liberal arts). Porter has been around for a while and does have longevity. The author has to be more alert to changes in promotion, e.g., social media and sources of financing, e.g., crowdfunding.

Clarity rating: 3

As noted in No. 9, the tone of the writing is too academic, thus making the material difficult to understand. Paragraphs are too long. Need to define: Porter, TOWS Matrix, VRIO, PESTEL. A student less from a senior or a non-business major would not be familiar with these terms.

Consistency rating: 4

The text is internally consistent. The model approach helps keep the process consistent.

Modularity rating: 4

The process of developing a business plan is divided into blocks which are parts of the business plan. Paragraphs tend to be too long in some spots.

Organization/Structure/Flow rating: 4

The topics are presented in a logical step-wise flow. The language style is too academic in parts, paragraphs too long. Leaves out the citations. Provides excellent check lists.

There are no display features which confuse the reader.

Grammatical Errors rating: 4

The text has no grammatical errors. On the other hand, I found the writing to be too academic in nature. Some paragraphs are too long. The material is more like an academic conference paper or journal submission. Academic citations references are not needed. The material is not exciting to read.

The text is culturally neutral. There are no examples which are inclusive of a variety of races, ethnicities, and backgrounds.

This book best for a graduate class.

Reviewed by Louis Bruneau, Part Time Faculty, Portland Community College on 6/19/18

The text provides appropriate discussion and illustration of all major concepts and useful references to source and resource materials. read more

Comprehensiveness rating: 5 see less

The text provides appropriate discussion and illustration of all major concepts and useful references to source and resource materials.

Contents of the book were accurate, although it could have benefited from editing/proofreading; there was no evidence of bias. As to editing/proofreading, a couple of examples: A. “Figure 1 – Business Plan… “ is shown at the top of the page following the diagram vs. the bottom of the page the diagram is on. (There are other problems with what is placed on each page.) B. First paragraph under heading “Essential Initial Research” there is reference to pages 21 to 30 though page numbering is missing from the book. (Page numbers are used in the Table of Contents.)

The book is current in that business planning has been stable for sometime. The references and resources will age in time, but are limited and look easy to update.

Clarity rating: 5

The book is written in a straightforward way, technical terms that needed explanations got them, jargon was avoided and generally it was an easy read.

The text is internally consistent in terms of terminology and framework.

Modularity rating: 5

The book lends itself to a multi-week course. A chapter could be presented and students could work on that stage of Plan development. It could also be pre-meeting reading for a workshop presentation. Reorganizing the book would be inappropriate.

The topics in the text are presented in a logical, clear fashion.

Generally, the book is free of interface problems. The financial tables in the Sample Plan were turned 90° to maintain legibility. One potential problem was with Figure 6 – Business Model Canvas. The print within the cells was too small to read; the author mitigated the problem by presenting the information, following Figure 6, in the type font of the text.

I found no grammatical errors.

The text is not culturally insensitive or offensive in any way.

I require a business plan in a course I teach; for most of the students the assignment is a course project that they do not intend to pursue in real life. I shared the book with five students that intended to develop an actual start-up business; three of them found it helpful while the other two decided not to do that much work on their plans. If I were planning a start-up, I would use/follow the book.

Reviewed by Todd Johnson, Faculty of Business, North Hennepin Community College on 5/21/18

The text is a thorough overview of all elements of a business plan. read more

Comprehensiveness rating: 4 see less

The text is a thorough overview of all elements of a business plan.

The content is accurate and seems to lack bias.

Content seems relevant and useful . It does not help an entrepreneur generate ideas, and is very light on crowdfunding and other novel funding source content. It is more traditional. This can be easily updated in future versions, however. "Social Media" appears once in the book, as does "Crowd Funding".

The book is comprehensive, but perhaps not written in the most lucid, accessible prose. I am not sure any college student could pick this up and just read and learn. It would be best used as a "teach along guide" for students to process with an instructor.

The text seems consistent. The author does a nice job of consistently staying on task and using bullets and brevity.

Here I am not so certain. The table of contents is not a good guide for this book. It does make the book look nicely laid out, but there is a lot of complexity within these sections. I read it uncertain that it was well organized. Yes there are many good bits of information, however it is not as if I could spend time on one swathe of text at a time. I would need to go back and forth throughout the text.

Organization/Structure/Flow rating: 2

Similar to the above. I did not like the flow and organization of this. An editor would help things be in a more logical order.

Interface rating: 2

The interface is just OK. It is not an attractice interface, as it presents text in a very dense manner. The images and charts are hard to follow.

I did not find any grammatical errors.

Cultural Relevance rating: 4

I a not certain of the origins of Saskatchewan, but I do feel this is a different read. It is more formal and dense than it has to be. This would be a difficult read for my students. I do not feel it is insensitive in any way, or offensive in any way.

I would not adopt this book if given the chance. It is too dense, and not organized very well, even though the information is very good. The density and lack of modularity are barriers to understanding what is obviously very good information.

Reviewed by Mariana Mitova, Lecturer, Bowling Green State University on 2/1/18

Though this textbook has a prescriptive nature, it is quite comprehensive. The author strikes a good balance between presenting concepts in a concise way and providing enough information to explain them. Many every-day examples and live links to... read more

Though this textbook has a prescriptive nature, it is quite comprehensive. The author strikes a good balance between presenting concepts in a concise way and providing enough information to explain them. Many every-day examples and live links to other resources add to the completeness of the textbook.

Content seems accurate.

Since the content is somewhat conceptual, the text will not become obsolete quickly. In addition, the author seems to be updating and editing content often hence the relevance to current developments is on target.

The text is very clear, written in clear and straight-to-the point language.

The organization of content is consistent throughout the entire text.

The textbook is organized by chapters, beginning with overview of the model used and followed by chapters for each concept within the model. Nicely done.

The flow is clear, logical and easy to follow.

Overall, images, links, and text are well organized. Some headlines were misaligned but still easy to follow.

No concerns for grammar.

No concerns for cultural irrelevance.

Reviewed by Darlene Weibye, Cosmetology Instructor, Minnesota State Community and Technical College on 2/1/18

The text is comprehensive and covers the information needed to develop a business plan. The book provides all the means necessary in business planning. read more

The text is comprehensive and covers the information needed to develop a business plan. The book provides all the means necessary in business planning.

The text was accurate, and error-free. I did not find the book to be biased.

The content is up-to-date. I am reviewing the book in 2017, the same year the book was published.

The content was very clear. A business plan sample included operation timelines, start up costs, and all relevant material in starting a business.

The book is very consistent and is well organized.

The book has a table of contents and is broken down into specific chapters. The chapters are not divided into sub topics. I do not feel it is necessary for sub topics because the chapters are brief and to the point.

There is a great flow from chapter to chapter. One topic clearly leads into the next without repeating.

The table of contents has direct links to each chapter. The appearance of the chapters are easy to read and the charts are very beneficial.

Does not appear to have any grammatical errors.

The text is not culturally insensitive or offensive.

I am incorporating some of the text into the salon business course. Very well written book.

Table of Contents

Introduction

  • Chapter 1 – Developing a Business Plan
  • Chapter 2 – Essential Initial Research
  • Chapter 3 – Business Models
  • Chapter 4 – Initial Business Plan Draft
  • Chapter 5 – Making the Business Plan Realistic
  • Chapter 6 – Making the Plan Appeal to Stakeholders and Desirable to the Entrepreneur
  • Chapter 7 – Finishing the Business Plan
  • Chapter 8 – Business Plan Pitches

References Appendix A – Business Plan Development Checklist and Project Planner Appendix B – Fashion Importers Inc. Business Plan Business Plan Excel Template

Ancillary Material

About the book.

This textbook and its accompanying spreadsheet templates were designed with and for students wanting a practical and easy-to-follow guide for developing a business plan. It follows a unique format that both explains what to do and demonstrates how to do it.

About the Contributors

Dr. Lee Swanson is an Associate Professor of Management and Marketing at the Edwards School of Business at the University of Saskatchewan. His research focuses on entrepreneurship, social entrepreneurship, Aboriginal entrepreneurship, community capacity-building through entrepreneurship, and institutional-stakeholder engagement. Dr. Swanson’s current research is funded through a Social Sciences Humanities Research Council grant and focuses on social and economic capacity building in Northern Saskatchewan and Northern Scandinavia. He is also actively studying Aboriginal community partnerships with resource based companies, entrepreneurship centres at universities, community-based entrepreneurship, and entrepreneurial attitudes and intentions. He teaches upper-year and MBA entrepreneurship classes and conducts seminars on business planning and business development.

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11.4 The Business Plan

Learning objectives.

By the end of this section, you will be able to:

  • Describe the different purposes of a business plan
  • Describe and develop the components of a brief business plan
  • Describe and develop the components of a full business plan

Unlike the brief or lean formats introduced so far, the business plan is a formal document used for the long-range planning of a company’s operation. It typically includes background information, financial information, and a summary of the business. Investors nearly always request a formal business plan because it is an integral part of their evaluation of whether to invest in a company. Although nothing in business is permanent, a business plan typically has components that are more “set in stone” than a business model canvas , which is more commonly used as a first step in the planning process and throughout the early stages of a nascent business. A business plan is likely to describe the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives. An in-depth formal business plan would follow at later stages after various iterations to business model canvases. The business plan usually projects financial data over a three-year period and is typically required by banks or other investors to secure funding. The business plan is a roadmap for the company to follow over multiple years.

Some entrepreneurs prefer to use the canvas process instead of the business plan, whereas others use a shorter version of the business plan, submitting it to investors after several iterations. There are also entrepreneurs who use the business plan earlier in the entrepreneurial process, either preceding or concurrently with a canvas. For instance, Chris Guillebeau has a one-page business plan template in his book The $100 Startup . 48 His version is basically an extension of a napkin sketch without the detail of a full business plan. As you progress, you can also consider a brief business plan (about two pages)—if you want to support a rapid business launch—and/or a standard business plan.

As with many aspects of entrepreneurship, there are no clear hard and fast rules to achieving entrepreneurial success. You may encounter different people who want different things (canvas, summary, full business plan), and you also have flexibility in following whatever tool works best for you. Like the canvas, the various versions of the business plan are tools that will aid you in your entrepreneurial endeavor.

Business Plan Overview

Most business plans have several distinct sections ( Figure 11.16 ). The business plan can range from a few pages to twenty-five pages or more, depending on the purpose and the intended audience. For our discussion, we’ll describe a brief business plan and a standard business plan. If you are able to successfully design a business model canvas, then you will have the structure for developing a clear business plan that you can submit for financial consideration.

Both types of business plans aim at providing a picture and roadmap to follow from conception to creation. If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept.

The full business plan is aimed at executing the vision concept, dealing with the proverbial devil in the details. Developing a full business plan will assist those of you who need a more detailed and structured roadmap, or those of you with little to no background in business. The business planning process includes the business model, a feasibility analysis, and a full business plan, which we will discuss later in this section. Next, we explore how a business plan can meet several different needs.

Purposes of a Business Plan

A business plan can serve many different purposes—some internal, others external. As we discussed previously, you can use a business plan as an internal early planning device, an extension of a napkin sketch, and as a follow-up to one of the canvas tools. A business plan can be an organizational roadmap , that is, an internal planning tool and working plan that you can apply to your business in order to reach your desired goals over the course of several years. The business plan should be written by the owners of the venture, since it forces a firsthand examination of the business operations and allows them to focus on areas that need improvement.

Refer to the business venture throughout the document. Generally speaking, a business plan should not be written in the first person.

A major external purpose for the business plan is as an investment tool that outlines financial projections, becoming a document designed to attract investors. In many instances, a business plan can complement a formal investor’s pitch. In this context, the business plan is a presentation plan, intended for an outside audience that may or may not be familiar with your industry, your business, and your competitors.

You can also use your business plan as a contingency plan by outlining some “what-if” scenarios and exploring how you might respond if these scenarios unfold. Pretty Young Professional launched in November 2010 as an online resource to guide an emerging generation of female leaders. The site focused on recent female college graduates and current students searching for professional roles and those in their first professional roles. It was founded by four friends who were coworkers at the global consultancy firm McKinsey. But after positions and equity were decided among them, fundamental differences of opinion about the direction of the business emerged between two factions, according to the cofounder and former CEO Kathryn Minshew . “I think, naively, we assumed that if we kicked the can down the road on some of those things, we’d be able to sort them out,” Minshew said. Minshew went on to found a different professional site, The Muse , and took much of the editorial team of Pretty Young Professional with her. 49 Whereas greater planning potentially could have prevented the early demise of Pretty Young Professional, a change in planning led to overnight success for Joshua Esnard and The Cut Buddy team. Esnard invented and patented the plastic hair template that he was selling online out of his Fort Lauderdale garage while working a full-time job at Broward College and running a side business. Esnard had hundreds of boxes of Cut Buddies sitting in his home when he changed his marketing plan to enlist companies specializing in making videos go viral. It worked so well that a promotional video for the product garnered 8 million views in hours. The Cut Buddy sold over 4,000 products in a few hours when Esnard only had hundreds remaining. Demand greatly exceeded his supply, so Esnard had to scramble to increase manufacturing and offered customers two-for-one deals to make up for delays. This led to selling 55,000 units, generating $700,000 in sales in 2017. 50 After appearing on Shark Tank and landing a deal with Daymond John that gave the “shark” a 20-percent equity stake in return for $300,000, The Cut Buddy has added new distribution channels to include retail sales along with online commerce. Changing one aspect of a business plan—the marketing plan—yielded success for The Cut Buddy.

Link to Learning

Watch this video of Cut Buddy’s founder, Joshua Esnard, telling his company’s story to learn more.

If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept. This version is used to interest potential investors, employees, and other stakeholders, and will include a financial summary “box,” but it must have a disclaimer, and the founder/entrepreneur may need to have the people who receive it sign a nondisclosure agreement (NDA) . The full business plan is aimed at executing the vision concept, providing supporting details, and would be required by financial institutions and others as they formally become stakeholders in the venture. Both are aimed at providing a picture and roadmap to go from conception to creation.

Types of Business Plans

The brief business plan is similar to an extended executive summary from the full business plan. This concise document provides a broad overview of your entrepreneurial concept, your team members, how and why you will execute on your plans, and why you are the ones to do so. You can think of a brief business plan as a scene setter or—since we began this chapter with a film reference—as a trailer to the full movie. The brief business plan is the commercial equivalent to a trailer for Field of Dreams , whereas the full plan is the full-length movie equivalent.

Brief Business Plan or Executive Summary

As the name implies, the brief business plan or executive summary summarizes key elements of the entire business plan, such as the business concept, financial features, and current business position. The executive summary version of the business plan is your opportunity to broadly articulate the overall concept and vision of the company for yourself, for prospective investors, and for current and future employees.

A typical executive summary is generally no longer than a page, but because the brief business plan is essentially an extended executive summary, the executive summary section is vital. This is the “ask” to an investor. You should begin by clearly stating what you are asking for in the summary.

In the business concept phase, you’ll describe the business, its product, and its markets. Describe the customer segment it serves and why your company will hold a competitive advantage. This section may align roughly with the customer segments and value-proposition segments of a canvas.

Next, highlight the important financial features, including sales, profits, cash flows, and return on investment. Like the financial portion of a feasibility analysis, the financial analysis component of a business plan may typically include items like a twelve-month profit and loss projection, a three- or four-year profit and loss projection, a cash-flow projection, a projected balance sheet, and a breakeven calculation. You can explore a feasibility study and financial projections in more depth in the formal business plan. Here, you want to focus on the big picture of your numbers and what they mean.

The current business position section can furnish relevant information about you and your team members and the company at large. This is your opportunity to tell the story of how you formed the company, to describe its legal status (form of operation), and to list the principal players. In one part of the extended executive summary, you can cover your reasons for starting the business: Here is an opportunity to clearly define the needs you think you can meet and perhaps get into the pains and gains of customers. You also can provide a summary of the overall strategic direction in which you intend to take the company. Describe the company’s mission, vision, goals and objectives, overall business model, and value proposition.

Rice University’s Student Business Plan Competition, one of the largest and overall best-regarded graduate school business-plan competitions (see Telling Your Entrepreneurial Story and Pitching the Idea ), requires an executive summary of up to five pages to apply. 51 , 52 Its suggested sections are shown in Table 11.2 .

Section Description
Company summary Brief overview (one to two paragraphs) of the problem, solution, and potential customers
Customer analysis Description of potential customers and evidence they would purchase product
Market analysis Size of market, target market, and share of market
Product or service Current state of product in development and evidence it is feasible
Intellectual property If applicable, information on patents, licenses, or other IP items
Competitive differentiation Describe the competition and your competitive advantage
Company founders, management team, and/or advisor Bios of key people showcasing their expertise and relevant experience
Financials Projections of revenue, profit, and cash flow for three to five years
Amount of investment Funding request and how funds will be used

Are You Ready?

Create a brief business plan.

Fill out a canvas of your choosing for a well-known startup: Uber, Netflix, Dropbox, Etsy, Airbnb, Bird/Lime, Warby Parker, or any of the companies featured throughout this chapter or one of your choice. Then create a brief business plan for that business. See if you can find a version of the company’s actual executive summary, business plan, or canvas. Compare and contrast your vision with what the company has articulated.

  • These companies are well established but is there a component of what you charted that you would advise the company to change to ensure future viability?
  • Map out a contingency plan for a “what-if” scenario if one key aspect of the company or the environment it operates in were drastically is altered?

Full Business Plan

Even full business plans can vary in length, scale, and scope. Rice University sets a ten-page cap on business plans submitted for the full competition. The IndUS Entrepreneurs , one of the largest global networks of entrepreneurs, also holds business plan competitions for students through its Tie Young Entrepreneurs program. In contrast, business plans submitted for that competition can usually be up to twenty-five pages. These are just two examples. Some components may differ slightly; common elements are typically found in a formal business plan outline. The next section will provide sample components of a full business plan for a fictional business.

Executive Summary

The executive summary should provide an overview of your business with key points and issues. Because the summary is intended to summarize the entire document, it is most helpful to write this section last, even though it comes first in sequence. The writing in this section should be especially concise. Readers should be able to understand your needs and capabilities at first glance. The section should tell the reader what you want and your “ask” should be explicitly stated in the summary.

Describe your business, its product or service, and the intended customers. Explain what will be sold, who it will be sold to, and what competitive advantages the business has. Table 11.3 shows a sample executive summary for the fictional company La Vida Lola.

Executive Summary Component

Content

The Concept

La Vida Lola is a food truck serving the best Latin American and Caribbean cuisine in the Atlanta region, particularly Puerto Rican and Cuban dishes, with a festive flair. La Vida Lola offers freshly prepared dishes from the mobile kitchen of the founding chef and namesake Lola González, a Duluth, Georgia, native who has returned home to launch her first venture after working under some of the world’s top chefs. La Vida Lola will cater to festivals, parks, offices, community and sporting events, and breweries throughout the region.

Market Advantage

Latin food packed with flavor and flair is the main attraction of La Vida Lola. Flavors steeped in Latin American and Caribbean culture can be enjoyed from a menu featuring street foods, sandwiches, and authentic dishes from the González family’s Puerto Rican and Cuban roots.

craving ethnic food experiences and are the primary customers, but anyone with a taste for delicious homemade meals in Atlanta can order. Having a native Atlanta-area resident returning to her hometown after working in restaurants around the world to share food with area communities offers a competitive advantage for La Vida Lola in the form of founding chef Lola González.

Marketing

The venture will adopt a concentrated marketing strategy. The company’s promotion mix will comprise a mix of advertising, sales promotion, public relations, and personal selling. Much of the promotion mix will center around dual-language social media.

Venture Team

The two founding members of the management team have almost four decades of combined experience in the restaurant and hospitality industries. Their background includes experience in food and beverage, hospitality and tourism, accounting, finance, and business creation.

Capital Requirements

La Vida Lola is seeking startup capital of $50,000 to establish its food truck in the Atlanta area. An additional $20,000 will be raised through a donations-driven crowdfunding campaign. The venture can be up and running within six months to a year.

Business Description

This section describes the industry, your product, and the business and success factors. It should provide a current outlook as well as future trends and developments. You also should address your company’s mission, vision, goals, and objectives. Summarize your overall strategic direction, your reasons for starting the business, a description of your products and services, your business model, and your company’s value proposition. Consider including the Standard Industrial Classification/North American Industry Classification System (SIC/NAICS) code to specify the industry and insure correct identification. The industry extends beyond where the business is located and operates, and should include national and global dynamics. Table 11.4 shows a sample business description for La Vida Lola.

Business Description

La Vida Lola will operate in the mobile food services industry, which is identified by SIC code 5812 Eating Places and NAICS code 722330 Mobile Food Services, which consist of establishments primarily engaged in preparing and serving meals and snacks for immediate consumption from motorized vehicles or nonmotorized carts.

Ethnically inspired to serve a consumer base that craves more spiced Latin foods, La Vida Lola is an Atlanta-area food truck specializing in Latin cuisine, particularly Puerto Rican and Cuban dishes native to the roots of the founding chef and namesake, Lola González.

La Vida Lola aims to spread a passion for Latin cuisine within local communities through flavorful food freshly prepared in a region that has embraced international eats. Through its mobile food kitchen, La Vida Lola plans to roll into parks, festivals, office buildings, breweries, and sporting and community events throughout the greater Atlanta metropolitan region. Future growth possibilities lie in expanding the number of food trucks, integrating food delivery on demand, and adding a food stall at an area food market.

After working in noted restaurants for a decade, most recently under the famed chef José Andrés, chef Lola González returned to her hometown of Duluth, Georgia, to start her own venture. Although classically trained by top world chefs, it was González’s grandparents’ cooking of authentic Puerto Rican and Cuban dishes in their kitchen that influenced her profoundly.

The freshest ingredients from the local market, the island spices, and her attention to detail were the spark that ignited Lola’s passion for cooking. To that end, she brings flavors steeped in Latin American and Caribbean culture to a flavorful menu packed full of street foods, sandwiches, and authentic dishes. Through reasonably priced menu items, La Vida Lola offers food that appeals to a wide range of customers, from millennial foodies to Latin natives and other locals with Latin roots.

Industry Analysis and Market Strategies

Here you should define your market in terms of size, structure, growth prospects, trends, and sales potential. You’ll want to include your TAM and forecast the SAM . (Both these terms are discussed in Conducting a Feasibility Analysis .) This is a place to address market segmentation strategies by geography, customer attributes, or product orientation. Describe your positioning relative to your competitors’ in terms of pricing, distribution, promotion plan, and sales potential. Table 11.5 shows an example industry analysis and market strategy for La Vida Lola.

Industry Analysis and Market Strategy

According to ’ first annual report from the San Francisco-based Off The Grid, a company that facilitates food markets nationwide, the US food truck industry alone is projected to grow by nearly 20 percent from $800 million in 2017 to $985 million in 2019. Meanwhile, an report shows the street vendors’ industry with a 4.2 percent annual growth rate to reach $3.2 billion in 2018. Food truck and street food vendors are increasingly investing in specialty, authentic ethnic, and fusion food, according to the report.

Although the report projects demand to slow down over the next five years, it notes there are still opportunities for sustained growth in major metropolitan areas. The street vendors industry has been a particular bright spot within the larger food service sector.

The industry is in a growth phase of its life cycle. The low overhead cost to set up a new establishment has enabled many individuals, especially specialty chefs looking to start their own businesses, to own a food truck in lieu of opening an entire restaurant. Off the Grid’s annual report indicates the average typical initial investment ranges from $55,000 to $75,000 to open a mobile food truck.

The restaurant industry accounts for $800 billion in sales nationwide, according to data from the National Restaurant Association. Georgia restaurants brought in a total of $19.6 billion in 2017, according to figures from the Georgia Restaurant Association.

There are approximately 12,000 restaurants in the metro Atlanta region. The Atlanta region accounts for almost 60 percent of the Georgia restaurant industry. The SAM is estimated to be approximately $360 million.

The mobile food/street vendor industry can be segmented by types of customers, types of cuisine (American, desserts, Central and South American, Asian, mixed ethnicity, Greek Mediterranean, seafood), geographic location and types (mobile food stands, mobile refreshment stands, mobile snack stands, street vendors of food, mobile food concession stands).

Secondary competing industries include chain restaurants, single location full-service restaurants, food service contractors, caterers, fast food restaurants, and coffee and snack shops.

The top food truck competitors according to the , the daily newspaper in La Vida Lola’s market, are Bento Bus, Mix’d Up Burgers, Mac the Cheese, The Fry Guy, and The Blaxican. Bento Bus positions itself as a Japanese-inspired food truck using organic ingredients and dispensing in eco-friendly ware. The Blaxican positions itself as serving what it dubs “Mexican soul food,” a fusion mashup of Mexican food with Southern comfort food. After years of operating a food truck, The Blaxican also recently opened its first brick-and-mortar restaurant. The Fry Guy specializes in Belgian-style street fries with a variety of homemade dipping sauces. These three food trucks would be the primary competition to La Vida Lola, since they are in the “ethnic food” space, while the other two offer traditional American food. All five have established brand identities and loyal followers/customers since they are among the industry leaders as established by “best of” lists from area publications like the . Most dishes from competitors are in the $10–$13 price range for entrees. La Vida Lola dishes will range from $6 to $13.

One key finding from Off the Grid’s report is that mobile food has “proven to be a powerful vehicle for catalyzing diverse entrepreneurship” as 30 percent of mobile food businesses are immigrant owned, 30 percent are women owned, and 8 percent are LGBTQ owned. In many instances, the owner-operator plays a vital role to the brand identity of the business as is the case with La Vida Lola.

Atlanta has also tapped into the nationwide trend of food hall-style dining. These food halls are increasingly popular in urban centers like Atlanta. On one hand, these community-driven areas where food vendors and retailers sell products side by side are secondary competitors to food trucks. But they also offer growth opportunities for future expansion as brands solidify customer support in the region. The most popular food halls in Atlanta are Ponce City Market in Midtown, Krog Street Market along the BeltLine trail in the Inman Park area, and Sweet Auburn Municipal Market downtown Atlanta. In addition to these trends, Atlanta has long been supportive of international cuisine as Buford Highway (nicknamed “BuHi”) has a reputation for being an eclectic food corridor with an abundance of renowned Asian and Hispanic restaurants in particular.

The Atlanta region is home to a thriving Hispanic and Latinx population, with nearly half of the region’s foreign-born population hailing from Latin America. There are over half a million Hispanic and Latin residents living in metro Atlanta, with a 150 percent population increase predicted through 2040. The median age of metro Atlanta Latinos is twenty-six. La Vida Lola will offer authentic cuisine that will appeal to this primary customer segment.

La Vida Lola must contend with regulations from towns concerning operations of mobile food ventures and health regulations, but the Atlanta region is generally supportive of such operations. There are many parks and festivals that include food truck vendors on a weekly basis.

Competitive Analysis

The competitive analysis is a statement of the business strategy as it relates to the competition. You want to be able to identify who are your major competitors and assess what are their market shares, markets served, strategies employed, and expected response to entry? You likely want to conduct a classic SWOT analysis (Strengths Weaknesses Opportunities Threats) and complete a competitive-strength grid or competitive matrix. Outline your company’s competitive strengths relative to those of the competition in regard to product, distribution, pricing, promotion, and advertising. What are your company’s competitive advantages and their likely impacts on its success? The key is to construct it properly for the relevant features/benefits (by weight, according to customers) and how the startup compares to incumbents. The competitive matrix should show clearly how and why the startup has a clear (if not currently measurable) competitive advantage. Some common features in the example include price, benefits, quality, type of features, locations, and distribution/sales. Sample templates are shown in Figure 11.17 and Figure 11.18 . A competitive analysis helps you create a marketing strategy that will identify assets or skills that your competitors are lacking so you can plan to fill those gaps, giving you a distinct competitive advantage. When creating a competitor analysis, it is important to focus on the key features and elements that matter to customers, rather than focusing too heavily on the entrepreneur’s idea and desires.

Operations and Management Plan

In this section, outline how you will manage your company. Describe its organizational structure. Here you can address the form of ownership and, if warranted, include an organizational chart/structure. Highlight the backgrounds, experiences, qualifications, areas of expertise, and roles of members of the management team. This is also the place to mention any other stakeholders, such as a board of directors or advisory board(s), and their relevant relationship to the founder, experience and value to help make the venture successful, and professional service firms providing management support, such as accounting services and legal counsel.

Table 11.6 shows a sample operations and management plan for La Vida Lola.

Operations and Management Plan Category Content

Key Management Personnel

The key management personnel consist of Lola González and Cameron Hamilton, who are longtime acquaintances since college. The management team will be responsible for funding the venture as well as securing loans to start the venture. The following is a summary of the key personnel backgrounds.

Chef Lola González has worked directly in the food service industry for fifteen years. While food has been a lifelong passion learned in her grandparents’ kitchen, chef González has trained under some of the top chefs in the world, most recently having worked under the James Beard Award-winning chef José Andrés. A native of Duluth, Georgia, chef González also has an undergraduate degree in food and beverage management. Her value to the firm is serving as “the face” and company namesake, preparing the meals, creating cuisine concepts, and running the day-to-day operations of La Vida Lola.

Cameron Hamilton has worked in the hospitality industry for over twenty years and is experienced in accounting and finance. He has a master of business administration degree and an undergraduate degree in hospitality and tourism management. He has opened and managed several successful business ventures in the hospitality industry. His value to the firm is in business operations, accounting, and finance.

Advisory Board

During the first year of operation, the company intends to keep a lean operation and does not plan to implement an advisory board. At the end of the first year of operation, the management team will conduct a thorough review and discuss the need for an advisory board.

Supporting Professionals

Stephen Ngo, Certified Professional Accountant (CPA), of Valdosta, Georgia, will provide accounting consulting services. Joanna Johnson, an attorney and friend of chef González, will provide recommendations regarding legal services and business formation.

Marketing Plan

Here you should outline and describe an effective overall marketing strategy for your venture, providing details regarding pricing, promotion, advertising, distribution, media usage, public relations, and a digital presence. Fully describe your sales management plan and the composition of your sales force, along with a comprehensive and detailed budget for the marketing plan. Table 11.7 shows a sample marketing plan for La Vida Lola.

Marketing Plan Category Content

Overview

La Vida Lola will adopt a concentrated marketing strategy. The company’s promotion mix will include a mix of advertising, sales promotion, public relations, and personal selling. Given the target millennial foodie audience, the majority of the promotion mix will be centered around social media platforms. Various social media content will be created in both Spanish and English. The company will also launch a crowdfunding campaign on two crowdfunding platforms for the dual purpose of promotion/publicity and fundraising.

Advertising and Sales Promotion

As with any crowdfunding social media marketing plan, the first place to begin is with the owners’ friends and family. Utilizing primarily Facebook/Instagram and Twitter, La Vida Lola will announce the crowdfunding initiative to their personal networks and prevail upon these friends and family to share the information. Meanwhile, La Vida Lola needs to focus on building a community of backers and cultivating the emotional draw of becoming part of the La Vida Lola family.

To build a crowdfunding community via social media, La Vida Lola will routinely share its location, daily if possible, on both Facebook, Instagram, and Twitter. Inviting and encouraging people to visit and sample their food can rouse interest in the cause. As the campaign is nearing its goal, it would be beneficial to offer a free food item to backers of a specific level, say $50, on one specific day. Sharing this via social media in the day or two preceding the giveaway and on the day of can encourage more backers to commit.

Weekly updates of the campaign and the project as a whole are a must. Facebook and Twitter updates of the project coupled with educational information sharing helps backers feel part of the La Vida Lola community.

Finally, at every location where La Vida Lola is serving its food, signage will notify the public of their social media presence and the current crowdfunding campaign. Each meal will be accompanied by an invitation from the server for the patron to visit the crowdfunding site and consider donating. Business cards listing the social media and crowdfunding information will be available in the most visible location, likely the counter.

Before moving forward with launching a crowdfunding campaign, La Vida Lola will create its website. The website is a great place to establish and share the La Vida Lola brand, vision, videos, menus, staff, and events. It is also a great source of information for potential backers who are unsure about donating to the crowdfunding campaigns. The website will include these elements:

. Address the following questions: Who are you? What are the guiding principles of La Vida Lola? How did the business get started? How long has La Vida Lola been in business? Include pictures of chef González. List of current offerings with prices. Will include promotional events and locations where customers can find the truck for different events. Steps will be taken to increase social media followers prior to launching the crowdfunding campaign. Unless a large social media following is already established, a business should aggressively push social media campaigns a minimum of three months prior to the crowdfunding campaign launch. Increasing social media following prior to the campaign kickoff will also allow potential donors to learn more about La Vida Lola and foster relationship building before attempting to raise funds.

Facebook Content and Advertising

The key piece of content will be the campaign pitch video, reshared as a native Facebook upload. A link to the crowdfunding campaigns can be included in the caption. Sharing the same high-quality video published on the campaign page will entice fans to visit Kickstarter to learn more about the project and rewards available to backers.

Crowdfunding Campaigns

Foodstart was created just for restaurants, breweries, cafés, food trucks, and other food businesses, and allows owners to raise money in small increments. It is similar to Indiegogo in that it offers both flexible and fixed funding models and charges a percentage for successful campaigns, which it claims to be the lowest of any crowdfunding platform. It uses a reward-based system rather than equity, where backers are offered rewards or perks resulting in “low-cost capital and a network of people who now have an incentive to see you succeed.”

Foodstart will host La Vida Lola’s crowdfunding campaigns for the following reasons: (1) It caters to their niche market; (2) it has less competition from other projects which means that La Vida Lola will stand out more and not get lost in the shuffle; and (3) it has/is making a name/brand for itself which means that more potential backers are aware of it.

La Vida Lola will run a simultaneous crowdfunding campaign on Indiegogo, which has broader mass appeal.

Publicity

Social media can be a valuable marketing tool to draw people to the Foodstarter and Indiegogo crowdfunding pages. It provides a means to engage followers and keep funders/backers updated on current fundraising milestones. The first order of business is to increase La Vida Lola’s social media presence on Facebook, Instagram, and Twitter. Establishing and using a common hashtag such as #FundLola across all platforms will promote familiarity and searchability, especially within Instagram and Twitter. Hashtags are slowly becoming a presence on Facebook. The hashtag will be used in all print collateral.

La Vida Lola will need to identify social influencers—others on social media who can assist with recruiting followers and sharing information. Existing followers, family, friends, local food providers, and noncompetitive surrounding establishments should be called upon to assist with sharing La Vida Lola’s brand, mission, and so on. Cross-promotion will further extend La Vida Lola’s social reach and engagement. Influencers can be called upon to cross promote upcoming events and specials.

The crowdfunding strategy will utilize a progressive reward-based model and establish a reward schedule such as the following:

In addition to the publicity generated through social media channels and the crowdfunding campaign, La Vida Lola will reach out to area online and print publications (both English- and Spanish-language outlets) for feature articles. Articles are usually teased and/or shared via social media. Reaching out to local broadcast stations (radio and television) may provide opportunities as well. La Vida Lola will recruit a social media intern to assist with developing and implementing a social media content plan. Engaging with the audience and responding to all comments and feedback is important for the success of the campaign.

Some user personas from segmentation to target in the campaign:

Financial Plan

A financial plan seeks to forecast revenue and expenses; project a financial narrative; and estimate project costs, valuations, and cash flow projections. This section should present an accurate, realistic, and achievable financial plan for your venture (see Entrepreneurial Finance and Accounting for detailed discussions about conducting these projections). Include sales forecasts and income projections, pro forma financial statements ( Building the Entrepreneurial Dream Team , a breakeven analysis, and a capital budget. Identify your possible sources of financing (discussed in Conducting a Feasibility Analysis ). Figure 11.19 shows a template of cash-flow needs for La Vida Lola.

Entrepreneur In Action

Laughing man coffee.

Hugh Jackman ( Figure 11.20 ) may best be known for portraying a comic-book superhero who used his mutant abilities to protect the world from villains. But the Wolverine actor is also working to make the planet a better place for real, not through adamantium claws but through social entrepreneurship.

A love of java jolted Jackman into action in 2009, when he traveled to Ethiopia with a Christian humanitarian group to shoot a documentary about the impact of fair-trade certification on coffee growers there. He decided to launch a business and follow in the footsteps of the late Paul Newman, another famous actor turned philanthropist via food ventures.

Jackman launched Laughing Man Coffee two years later; he sold the line to Keurig in 2015. One Laughing Man Coffee café in New York continues to operate independently, investing its proceeds into charitable programs that support better housing, health, and educational initiatives within fair-trade farming communities. 55 Although the New York location is the only café, the coffee brand is still distributed, with Keurig donating an undisclosed portion of Laughing Man proceeds to those causes (whereas Jackman donates all his profits). The company initially donated its profits to World Vision, the Christian humanitarian group Jackman accompanied in 2009. In 2017, it created the Laughing Man Foundation to be more active with its money management and distribution.

  • You be the entrepreneur. If you were Jackman, would you have sold the company to Keurig? Why or why not?
  • Would you have started the Laughing Man Foundation?
  • What else can Jackman do to aid fair-trade practices for coffee growers?

What Can You Do?

Textbooks for change.

Founded in 2014, Textbooks for Change uses a cross-compensation model, in which one customer segment pays for a product or service, and the profit from that revenue is used to provide the same product or service to another, underserved segment. Textbooks for Change partners with student organizations to collect used college textbooks, some of which are re-sold while others are donated to students in need at underserved universities across the globe. The organization has reused or recycled 250,000 textbooks, providing 220,000 students with access through seven campus partners in East Africa. This B-corp social enterprise tackles a problem and offers a solution that is directly relevant to college students like yourself. Have you observed a problem on your college campus or other campuses that is not being served properly? Could it result in a social enterprise?

Work It Out

Franchisee set out.

A franchisee of East Coast Wings, a chain with dozens of restaurants in the United States, has decided to part ways with the chain. The new store will feature the same basic sports-bar-and-restaurant concept and serve the same basic foods: chicken wings, burgers, sandwiches, and the like. The new restaurant can’t rely on the same distributors and suppliers. A new business plan is needed.

  • What steps should the new restaurant take to create a new business plan?
  • Should it attempt to serve the same customers? Why or why not?

This New York Times video, “An Unlikely Business Plan,” describes entrepreneurial resurgence in Detroit, Michigan.

  • 48 Chris Guillebeau. The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future . New York: Crown Business/Random House, 2012.
  • 49 Jonathan Chan. “What These 4 Startup Case Studies Can Teach You about Failure.” Foundr.com . July 12, 2015. https://foundr.com/4-startup-case-studies-failure/
  • 50 Amy Feldman. “Inventor of the Cut Buddy Paid YouTubers to Spark Sales. He Wasn’t Ready for a Video to Go Viral.” Forbes. February 15, 2017. https://www.forbes.com/sites/forbestreptalks/2017/02/15/inventor-of-the-cut-buddy-paid-youtubers-to-spark-sales-he-wasnt-ready-for-a-video-to-go-viral/#3eb540ce798a
  • 51 Jennifer Post. “National Business Plan Competitions for Entrepreneurs.” Business News Daily . August 30, 2018. https://www.businessnewsdaily.com/6902-business-plan-competitions-entrepreneurs.html
  • 52 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition . March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf
  • 53 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition. March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf; Based on 2019 RBPC Competition Rules and Format April 4–6, 2019. https://rbpc.rice.edu/sites/g/files/bxs806/f/2019-RBPC-Competition-Rules%20-Format.pdf
  • 54 Foodstart. http://foodstart.com
  • 55 “Hugh Jackman Journey to Starting a Social Enterprise Coffee Company.” Giving Compass. April 8, 2018. https://givingcompass.org/article/hugh-jackman-journey-to-starting-a-social-enterprise-coffee-company/

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

business plan chapter 4 example

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?”

Three adjoining circles about business opportunity

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

An image showing product service and 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

Business plan development

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

A notepad with a written executive summary for business plan writing

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

Writing the 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).

A man holding an iPad with a cup of coffee on his desk

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 .

An iPad with colored pens on a desk

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

Business plan SWOT analysis

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 .

An iPad with graph about pricing strategy

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.

A wooden stamp with the words "quality control"

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:

Organization chart

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.

A table showing yearly revenue of a business

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?

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How to Write a Business Plan: The Ultimate Guide in 2024

  • By Luisa Zhou
  • Building a Business
  • Updated: April 14, 2024

On this page

In this ultimate guide, you learn how to write a business plan you’ll actually use. 

You’ll learn:

  • A simple process to create a stand-out business plan.
  • The most important elements of a business plan.
  • How to research your business plan. 
  • How to write your business plan.
  • Templates, examples, and much more. 

If you want to make sure that you write a great business plan, this guide will give you a lot of value. Read on!

business plan chapter 4 example

Chapter 1: Business plan fundamentals

Let’s start by establishing what a business plan is. 

In this chapter, you get a business plan outline. 

You also learn how to write a great business plan, and much more. 

Let’s dive in.

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Business plan outline

Introduction.

  • Executive Summary
  • Company Description
  • Product/Service Description 

Value Proposition

  • Market Analysis 

Business Model 

  • Sales Strategy 
  • Growth Plan
  • Management & Staffing
  • Financial Summary 

What is a business plan? 

A business plan is a written document that outlines your business goals. It explains your business and how you’re going to reach those goals. 

business plan outline

You might need a business plan for obtaining a loan, receiving funding, or applying for a grant. 

But other than that, a business plan is mainly something you create as a roadmap for yourself. It gives you clarity, but no one else will probably see or use it. 

The thing is: 

You can use your business plan to crystallize your thinking and confirm your idea. Basically, to get started in the best way possible. 

That’s why I recommend that you keep it short. It is important to plan for your business. But it’s much more important to get out there and start building your business. 

This guide helps to make writing a business plan a simple process.

Steps to writing a good business plan

A great business plan consists of a few things:

  • The language is clear and concise. If you’re writing your business plan for yourself, a few pages (2-5) is more than enough. If you’re writing it for a more official purpose, 15-20 pages will usually do. 
  • Your audience’s needs and wants . Your business is built to address your customers’ problems, so your business plan should be written from your audience’s perspective. 
  • Research. Your business plan should build on research and not your own assumptions. 

Chapter 2: How to do market research for your business

In this chapter, we’ll look at the research you need for your business plan.

You see, you need to understand your market to write a great business plan.

And for this, you need to do market research. 

Let’s find out how you do it. 

Why do you need market research? 

A lot of failed businesses have one thing in common.

They didn’t research their market. 

Kodak logo

Market research essentially means that you research your audience of potential buyers. You get to understand why they want your product or service. 

Plus, if you’re just starting your business, market research can quickly help you get your first clients. That’s because during your research, people might get interested in working with you.

Most importantly: It helps make your business plan incredibly valuable, so that you’re one step closer to a successful business.

How to do market research

There are a few ways to do market research.

The first one is online research.

Look for information on your service or product and audience. 

First, look for information on pricing and positioning.

What are similar products or services priced at? Who is their target audience? How do they speak about their product?

And look at what potential audiences are saying about those products and services. 

For example, Amazon is a great resource because there are so many books and products with reviews by people who might be in your target audience.

Amazon reviews customer research

Another site with plenty of reviews is the software review site Capterra . 

Capterra reviews for market research

Also social media groups like Reddit and Facebook groups include a lot of information on what products and services people want to pay for. 

Reddit market research

For example, I started my first online business, an advertising consulting business because I noticed that business owners were talking about this need in Facebook groups.

The next step is to interview people.

For example, you can ask people in social media groups to jump on a quick call with you. In exchange, you offer a free consulting call or similar. 

But what should you ask your interview subjects? 

Check out this video where I talk through what you should be looking for:

Other than that, the questions you need to ask are:

  • “What is your biggest challenge related to ___?” 
  • “What is your goal for ___?”
  • “Would you be willing to pay for ___? How much would you be willing to pay to make this problem go away?”

When you’ve talked to 3-5 people, you’re ready to start writing your business plan.

Chapter 3: How to write a business plan

In this chapter, we’ll look at how to write a business plan.

Again, your business plan shouldn’t be too complicated. (That’s unless you need it for a specific reason, like getting funding. In that case, your business plan should follow the funding source’s requirements.)

Here’s how to write a simple business plan.

Executive summary

An executive summary is a summary of the rest of your plan. That’s why you can leave writing it to the end. Your executive summary should be one page, at most. It includes a high-level overview of:

  • Your business concept. What does your business do?
  • Product or service. What do you sell? 
  • Business goals. What are your long-term goals? 
  • Market. What does your market look like? Your competitors? 
  • Customers. Who do you sell to? 
  • Value proposition. How is your business different from what already exists?
  • Scope of business. How big can your business get? 
  • Business model. What does your marketing look like? Your revenue model? 

Company description

This section is all about understanding what your business is.

These elements should be included in your company description: 

  • Your business structure (Sole proprietorship, limited partnership, incorporates company, or general partnership) 
  • Your industry 
  • What you’re selling
  • Your long-term plan (Do you plan to keep your business or sell it?)
  • Your vision, mission, and values (Why does your business operate?) 
  • Short-term goals (the next year) and long-term goals (the next 1-5 years) 

Product or service description

Is your product or service ready for the market now? For example, if you sell products in an online store, you first need to develop your product and build an inventory. 

But if your business is service-based, your service is ready now. This includes coaching and consulting businesses. 

Also, explain your pricing strategy. How much will your products or services cost? What pricing model do you use (monthly billing, per-product price, or something else)? 

In this video, I give my best pricing recommendations:

And finally, does your product or service come with any intellectual property considerations? Is there a risk that you might be infringing on someone’s IP rights?

A physical product might come with these types of considerations. 

On the other hand, a service-based business doesn’t come with many potential IP rights violations because you’re selling a more generic service. 

(That’s not to say coaching program names and similar can’t be protected, even if the service, like health coaching, can’t. Note that I’m not a lawyer and these tips aren’t meant as legal advice.)

Market Analysis

Your market is crucial for your business success. By choosing a market with plenty of customers who need your product or service, you’re setting yourself up for success.

Remember how we talked about research in the last chapter? 

This is where you’ll use that research to understand why you customers want to buy from you.

Target market

Your customers are at the core of your business. 

Most customer persona guides tell you to list your customers’ demographics:

  • Where they live
  • Income 
  • Interests 

But by now, you know that customer research is so much more than that. Use your customer research (which we looked at in Chapter 3) to dive deeper and understand the psychographics of your target audience. 

What language do they use to describe their needs and goals? For example, a 60-year old executive will talk very differently about her health goals compared to a 25-year old. 

Ask yourself (and answer these questions with your market research):

  • What is the problem my customer wants to solve? 
  • Why can’t my customer solve this today? 
  • What’s the measurable outcome my customer wants to achieve? 

Industry 

How big is your potential market? Check for trends and trajectories in your industry. 

For example, as the boomer generation continues to retire, industries for retirees will continue to grow. If you serve that market, you should mention this in your business plan so you can take that into account when thinking about your business’s long-term goals.

You can get this information from:

  • News outlets.
  • Governmental statistics offices.
  • Academic research.

SWOT analysis

With a SWOT analysis, you analyze your strengths, weaknesses, opportunities, and threats. 

SWOT Analysis

Most importantly, remember that you never have perfect information. You will need to operate with some assumptions. So ask yourself what assumptions you have that, if proven wrong, would cause this business to fail.

Take these into consideration in your SWOT analysis.

Competition

The next step is to look more closely at your competition.

Research your competition with Harvard professor Michael Porter’s Five Forces Framework in mind. This model builds on five forces to determine the competitive intensity and the attractiveness of an industry in terms of profitability. 

An industry with intense competition won’t have incredibly profitable businesses. But industries with mild competition (most coaching and consulting industries) have room for high returns. 

The five forces are:

  • Threat of new entry. How likely is it that new businesses will enter your market? For example, airlines don’t see a huge number of competitors because airlines need money and infrastructure to get started. But people will start online businesses (physical products, coaching, or consulting) much more easily. 
  • Buyer power. What buying power do your customers have? If you sell coaching to executives, you will likely have customers with better buying power than if you sell coaching to unemployed people.
  • Supplier power. How many suppliers are there on the market? If there aren’t that many, you might face high prices, which eat up your profitability. 
  • Threat of substitution. How likely is it that your product or service will get substituted by a low-cost, better alternative? Generic products will easily get substituted, but businesses that build a strong brand won’t. For example, think Apple iPhones. 
  • Competitive rivalry. How can you distinguish yourself from your competition, so that you don’t have to directly compete with anyone? You can do this by serving a specific group of customers, distinguishing yourself from the competition with marketing, or establishing technological leadership.

Five forces framework

Value proposition

One of the main reasons 20% of small businesses fail within their first year is because they don’t understand their value proposition. Make sure you get this right in your business plan. 

The thing is:

Your value proposition helps you understand how you’re going to stand out. 

You can build your value proposition on Michael Porter’s Generic Competitive Strategies .

These include three different factors:

  • Cost Leadership. You become the low-cost business in your industry. This usually requires scale, proprietary technology, access to raw material, or something else. For example, think about how Amazon uses technology, infrastructure, and scale to drive down prices. 
  • Differentiation. Your business stands out by being unique. You position yourself to meet customers’ needs. This means that you can ask for a premium price for your services. For example, my client David is a health coach who helps people lose weight with the help of herbs, a very unique way to position a health coaching business.
  • Cost Focus or Differentiation Focus. Your business focuses on a specific niche and differentiates itself either by serving a specific target market need or a target market cost behavior. 

For example, I started my current business when I realized that there wasn’t a great product for employees who wanted to quit their jobs and become entrepreneurs. I used differentiation focus to target a specific segment within a competitive market (business coaching). 

Generic competitive strategies

This chart should help you answer two questions: 

  • Who is your target customer? 
  • How are you different from the competition? 

Business Model

Your operations plan outlines the workflows you’ll need to implement to make your business work. In terms of a physical product, this includes suppliers, logistics, inventory, and more. You’ll also need a contingency plan in case anything goes wrong.

In terms of a service-based business, you don’t need to put too much energy on your operations because all you need is yourself and your laptop. 

Your marketing plan shows how you’re going to spread the word about your business now and in the future. Focus on where your clients are hanging out, whether that’s on Instagram, Facebook, or somewhere else. 

Your marketing strategy should answer these questions:

  • What is the pricing of your product or service? Why did you choose this price?
  • How do you promote your business?
  • What are you selling and how is that different from other existing products and services?
  • Where will you sell your products and services?

Sales strategy

Next, share your sales strategy. This is the process you undergo when you sell to your customers.

It covers all activities that lead up to a sale. Your sales cycle could look something like this:

Facebook ad → Lead subscribes to your email list → Lead reads your emails → Lead buys from you

customer marketing funnel

Growth plan

What will your business growth look like? How will you make it happen? Your growth plan should be specific and realistic. Define the exact steps you’ll take to grow your business.

Management & staffing

What does the management of your business look like? If you’re starting a business on your own, you’re the CEO and you don’t need to include anyone else here.

Will your business employ a team? Or at what point will you start hiring people, if at all? 

If you’re unsure, I share advice on hiring in this video: 

Financial summary

Your financial plan builds on your income statement, balance sheet, and cash-flow statement. 

Income statement: Where do you get your revenue and what are your expenses? With this information, you can make a profit-and-loss calculation. 

If you haven’t made any sales yet, you can work with estimates. Remember that people are less likely to buy in the beginning when you don’t have testimonials and you’re new to sales. That’s why I recommend estimating that one out of every ten sales calls will convert. 

Cash-flow statement: Your cash-flow statement is just like your income statement, but it also takes into account when revenues are collected and expenses paid. If you get more money in than is going out, you have a positive cash-flow statement. 

Balance sheet: List your business assets or what you own (if you have any) and what you owe. By deducting liabilities from assets you get your business’s shareholder equity. 

Also ask yourself: What’s the biggest risk to your financial viability? 

For example, let’s say you’re a health coach who teams up with a local gym to provide their members with health coaching. Your biggest financial risk (assuming this was your only client acquisition strategy) would be that the gym went bankrupt. 

Knowing your risks upfront means that you can prepare for them. And by including these in your business plan, you are clear on your risks and your planning for those risks. 

Need a way to set up your financial plan for your business plan? Copy this simple financial tracker that I created for you and calculate your own business income.

Chapter 4: Business plan template

This chapter is all about using what you’ve learned so far. 

First, you get a fillable business plan template.

And second, we’ll look at a business plan example.

Let’s dive right in.

Business plan template 

The simplest business plan format? A Business Model Canvas.

Business model canvas

The Business Model Canvas was first developed by Alexander Osterwalder in 2005. This is a visual chart of your business plan that includes nine ‘building blocks’. You can either use it as your business plan or use it to structure a longer business plan. Either way, use what you’ve learned so far in this guide to fill in the sheet. 

Start by filling in this PDF to answer all the business plan elements we’ve looked at so far. 

Then, use your answers to fill in your own Business Model Canvas. 

Here is a fillable PDF Business Model Canvas you can use, including instructions on how to use it. 

Business plan example

Not sure exactly what your Business Model Canvas should look like?

Here’s a simple business plan example to help you get started. 

Chapter 5: Helpful resources

Starting a business is so much more than creating a business plan.

A business plan will help you put your idea on paper.

But that’s when the real work kicks in.

These resources will help you write your business plan and start your business. 

Let’s take a look.

Start a business resources 

“ How to Start an Online Business ” 

“ Start Your Own Business ” – USAGov

Shopify’s Business Name Generator 

“ Talking to Humans: Success Starts With Understanding Your Customers ” – Giff Constable

“ Your Strategy Should Be a Hypothesis You Constantly Adjust ” – Harvard Business Review

“ The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It ”, Michael E. Gerber

Legal resources to start a business 

“ Register Your Business ” – US Small Business Administration

“ Starting a Business: License and Permit Checklist ” – LegalZoom

“ Business Structures ” – IRS

Funding resources  

“ Fund Your Business ” – US Small Business Administration 

“ Government Small Business Loans ” – SBA.com 

Financial resources

“ Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine ”, Mike Michalowicz

“ Business Planning & Financial Statements Template Gallery ” – SCORE

Marketing and sales resources

“ Business Marketing Strategies ”

“ 5 Tips to Using Social Media for Your Business Without Being Salesy ”

“ How I Learned to Sell (Strategies for Business) ” (YouTube)

What’s next?

There you have it. Now you know how to write a business plan. 

However, there are far more things that go into building a successful online business.

And not just any business, but a business that lets you quit your day job, earn a great income, and build a flexible life.

I teach the exact steps you need to take to build such a business in this PDF on starting a six-figure online business.

Get it here:

write a business plan pin

About Luisa Zhou

Luisa Zhou has helped thousands of students build and scale their own profitable online Freedom Business. Fun Fact: She used to work as an engineer for the Space Station and holds a B.S.E. from Princeton. Click here to learn more about Luisa.

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You don’t have to write an entire plan if you don’t plan to present it to a board of trustees. You can always start with a business model canvas.

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550+ Free Sample Business Plans

550+ Business Plan Examples to Launch Your Business

550+ Free Sample Business Plans

Need help writing your business plan? Explore over 550 industry-specific business plan examples for inspiration.

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Example business plan format

Before you start exploring our library of business plan examples, it's worth taking the time to understand the traditional business plan format . You'll find that the business plan samples in this library and most investor-approved business plans will include the following sections:

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your business plan and is ideally only one to two pages. You should also plan to write this section last after you've written your full business plan.

Your executive summary should include a summary of the problem you are solving, a description of your product or service, an overview of your target market, a brief description of your team, a summary of your financials, and your funding requirements (if you are raising money).

Products & services

The products & services chapter of your business plan is where the real meat of your plan lives. It includes information about the problem that you're solving, your solution, and any traction that proves that it truly meets the need you identified.

This is your chance to explain why you're in business and that people care about what you offer. It needs to go beyond a simple product or service description and get to the heart of why your business works and benefits your customers.

Market analysis

Conducting a market analysis ensures that you fully understand the market that you're entering and who you'll be selling to. This section is where you will showcase all of the information about your potential customers. You'll cover your target market as well as information about the growth of your market and your industry. Focus on outlining why the market you're entering is viable and creating a realistic persona for your ideal customer base.

Competition

Part of defining your opportunity is determining what your competitive advantage may be. To do this effectively you need to get to know your competitors just as well as your target customers. Every business will have competition, if you don't then you're either in a very young industry or there's a good reason no one is pursuing this specific venture.

To succeed, you want to be sure you know who your competitors are, how they operate, necessary financial benchmarks, and how your business will be positioned. Start by identifying who your competitors are or will be during your market research. Then leverage competitive analysis tools like the competitive matrix and positioning map to solidify where your business stands in relation to the competition.

Marketing & sales

The marketing and sales plan section of your business plan details how you plan to reach your target market segments. You'll address how you plan on selling to those target markets, what your pricing plan is, and what types of activities and partnerships you need to make your business a success.

The operations section in our business plan examples covers the day-to-day workflows for your business to deliver your product or service. What's included here fully depends on the type of business. Typically you can expect to add details on your business location, sourcing and fulfillment, use of technology, and any partnerships or agreements that are in place.

Milestones & metrics

The milestones section is where you lay out strategic milestones to reach your business goals.

A good milestone clearly lays out the parameters of the task at hand and sets expectations for its execution. You'll want to include a description of the task, a proposed due date, who is responsible, and eventually a budget that's attached. You don't need extensive project planning in this section, just key milestones that you want to hit and when you plan to hit them.

You should also discuss key metrics, which are the numbers you will track to determine your success. Some common data points worth tracking include conversion rates, customer acquisition costs, profit, etc.

Company & team

Use this section of your business plan to describe your current team and who you need to hire. If you intend to pursue funding, you'll need to highlight the relevant experience of your team members. Basically, this is where you prove that this is the right team to successfully start and grow the business. You will also need to provide a quick overview of your legal structure and history if you're already up and running.

Financial projections

Your financial plan should include a sales and revenue forecast, profit and loss statement, cash flow statement, and a balance sheet. You may not have established financials of any kind at this stage. Not to worry, rather than getting all of the details ironed out, focus on making projections and strategic forecasts for your business. You can always update your financial statements as you begin operations and start bringing in actual accounting data.

Now, if you intend to pitch to investors or submit a loan application, you'll also need a "use of funds" report in this business plan section. This outlines how you intend to leverage any funding for your business and how much you're looking to acquire. Like the rest of your financials, this can always be updated later on.

The appendix isn't a required element of your business plan. However, it is a useful place to add any charts, tables, definitions, legal notes, or other critical information that supports your business plan. These are often lengthier or out-of-place information that simply didn't work naturally into the structure of your plan. You'll notice that in these business plan examples, the appendix mainly includes extended financial statements.

Types of business plans explained

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. To get the most out of your business plan, it's best to find a format that suits your needs. Here are a few common business plan types worth considering.

Traditional business plan

The tried-and-true traditional business plan is a formal document meant to be used for external purposes. Typically this is the type of plan you'll need when applying for funding or pitching to investors. It can also be used when training or hiring employees, working with vendors, or in any other situation where the full details of your business must be understood by another individual.

Business model canvas

The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

The structure ditches a linear format in favor of a cell-based template. It encourages you to build connections between every element of your business. It's faster to write out and update, and much easier for you, your team, and anyone else to visualize your business operations.

One-page business plan

The true middle ground between the business model canvas and a traditional business plan is the one-page business plan . This format is a simplified version of the traditional plan that focuses on the core aspects of your business.

By starting with a one-page plan , you give yourself a minimal document to build from. You'll typically stick with bullet points and single sentences making it much easier to elaborate or expand sections into a longer-form business plan.

Growth planning

Growth planning is more than a specific type of business plan. It's a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, forecast, review, and refine based on your performance.

It holds all of the benefits of the single-page plan, including the potential to complete it in as little as 27 minutes . However, it's even easier to convert into a more detailed business plan thanks to how heavily it's tied to your financials. The overall goal of growth planning isn't to just produce documents that you use once and shelve. Instead, the growth planning process helps you build a healthier company that thrives in times of growth and remains stable through times of crisis.

It's faster, keeps your plan concise, and ensures that your business plan is always up-to-date.

Download a free sample business plan template

Ready to start writing your own business plan but aren't sure where to start? Download our free business plan template that's been updated for 2024.

This simple, modern, investor-approved business plan sample is designed to make planning easy. It's a proven format that has helped over 1 million businesses write business plans for bank loans, funding pitches, business expansion, and even business sales. It includes additional instructions for how to write each section and is formatted to be SBA-lender approved. All you need to do is fill in the blanks.

How to use an example business plan to help you write your own

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How do you know what elements need to be included in your business plan, especially if you've never written one before? Looking at business plan examples can help you visualize what a full, traditional plan looks like, so you know what you're aiming for before you get started. Here's how to get the most out of a business plan sample.

Choose a business plan example from a similar type of company

You don't need to find an example of a business plan that's an exact fit for your business. Your business location, target market, and even your particular product or service may not match up exactly with the business plans in our gallery. But, you don't need an exact match for it to be helpful. Instead, look for a business plan sample that's related to the type of business you're starting.

For example, if you want to start a vegetarian restaurant, a plan for a steakhouse can be a great match. While the specifics of your actual startup will differ, the elements you'd want to include in your restaurant's business plan are likely to be very similar.

Use a business plan example as a guide

Every startup and small business is unique, so you'll want to avoid copying an example of a business plan word for word. It just won't be as helpful, since each business is unique. You want your business plan to be a useful tool for starting a business —and getting funding if you need it.

One of the key benefits of writing a business plan is simply going through the process. When you sit down to write, you'll naturally think through important pieces, like your startup costs, your target market , and any market analysis or research you'll need to do to be successful.

You'll also look at where you stand among your competition (and everyone has competition), and lay out your goals and the milestones you'll need to meet. Looking at an example of a business plan's financials section can be helpful because you can see what should be included, but take them with a grain of salt. Don't assume that financial projections for a sample company will fit your own small business.

If you're looking for more resources to help you get started, our business planning guide is a good place to start. You can also download our free business plan template .

Think of business planning as a process, instead of a document

Think about business planning as something you do often , rather than a document you create once and never look at again. If you take the time to write a plan that really fits your own company, it will be a better, more useful tool to grow your business. It should also make it easier to share your vision and strategy so everyone on your team is on the same page.

Adjust your business plan regularly to use it as a business management tool

Keep in mind that businesses that use their business plan as a management tool to help run their business grow 30 percent faster than those businesses that don't. For that to be true for your company, you'll think of a part of your business planning process as tracking your actual results against your financial forecast on a regular basis.

If things are going well, your business plan will help you think about how you can re-invest in your business. If you find that you're not meeting goals, you might need to adjust your budgets or your sales forecast. Either way, tracking your progress compared to your plan can help you adjust quickly when you identify challenges and opportunities—it's one of the most powerful things you can do to grow your business.

Prepare to pitch your business

If you're planning to pitch your business to investors or seek out any funding, you'll need a pitch deck to accompany your business plan. A pitch deck is designed to inform people about your business. You want your pitch deck to be short and easy to follow, so it's best to keep your presentation under 20 slides.

Your pitch deck and pitch presentation are likely some of the first things that an investor will see to learn more about your company. So, you need to be informative and pique their interest. Luckily we have a round-up of real-world pitch deck examples used by successful startups that you can review and reference as you build your pitch.

For more resources, check out our full Business Pitch Guide .

Ready to get started?

Now that you know how to use an example of a business plan to help you write a plan for your business, it's time to find the right one.

Use the search bar below to get started and find the right business plan example for your business idea.

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7 Business Plan Examples to Inspire Your Own (2024)

Need support creating your business plan? Check out these business plan examples for inspiration.

business plan examples

Any aspiring entrepreneur researching how to start a business will likely be advised to write a business plan. But few resources provide business plan examples to really guide you through writing one of your own.

Here are some real-world and illustrative business plan examples to help you craft your business plan .

7 business plan examples: section by section

The business plan examples in this article follow this template:

  • Executive summary.  An introductory overview of your business.
  • Company description.  A more in-depth and detailed description of your business and why it exists.
  • Market analysis.  Research-based information about the industry and your target market.
  • Products and services.  What you plan to offer in exchange for money.
  • Marketing plan.   The promotional strategy to introduce your business to the world and drive sales.
  • Logistics and operations plan.  Everything that happens in the background to make your business function properly.
  • Financial plan.  A breakdown of your numbers to show what you need to get started as well as to prove viability of profitability.
  • Executive summary

Your  executive summary  is a page that gives a high-level overview of the rest of your business plan. It’s easiest to save this section for last.

In this  free business plan template , the executive summary is four paragraphs and takes a little over half a page:

A four-paragraph long executive summary for a business.

  • Company description

You might repurpose your company description elsewhere, like on your About page, social media profile pages, or other properties that require a boilerplate description of your small business.

Soap brand ORRIS  has a blurb on its About page that could easily be repurposed for the company description section of its business plan.

A company description from the website of soap brand Orris

You can also go more in-depth with your company overview and include the following sections, like in the example for Paw Print Post:

  • Business structure.  This section outlines how you  registered your business —as an  LLC , sole proprietorship, corporation, or other  business type . “Paw Print Post will operate as a sole proprietorship run by the owner, Jane Matthews.”
  • Nature of the business.  “Paw Print Post sells unique, one-of-a-kind digitally printed cards that are customized with a pet’s unique paw prints.”
  • Industry.  “Paw Print Post operates primarily in the pet industry and sells goods that could also be categorized as part of the greeting card industry.”
  • Background information.  “Jane Matthews, the founder of Paw Print Post, has a long history in the pet industry and working with animals, and was recently trained as a graphic designer. She’s combining those two loves to capture a niche in the market: unique greeting cards customized with a pet’s paw prints, without needing to resort to the traditional (and messy) options of casting your pet’s prints in plaster or using pet-safe ink to have them stamp their ‘signature.’”
  • Business objectives.  “Jane will have Paw Print Post ready to launch at the Big Important Pet Expo in Toronto to get the word out among industry players and consumers alike. After two years in business, Jane aims to drive $150,000 in annual revenue from the sale of Paw Print Post’s signature greeting cards and have expanded into two new product categories.”
  • Team.  “Jane Matthews is the sole full-time employee of Paw Print Post but hires contractors as needed to support her workflow and fill gaps in her skill set. Notably, Paw Print Post has a standing contract for five hours a week of virtual assistant support with Virtual Assistants Pro.”

Your  mission statement  may also make an appearance here.  Passionfruit  shares its mission statement on its company website, and it would also work well in its example business plan.

A mission statement example on the website of apparel brand Passionfruit, alongside a picture of woman

  • Market analysis

The market analysis consists of research about supply and demand, your target demographics, industry trends, and the competitive landscape. You might run a SWOT analysis and include that in your business plan. 

Here’s an example  SWOT analysis  for an online tailored-shirt business:

A SWOT analysis table showing strengths, weaknesses, opportunities and threats

You’ll also want to do a  competitive analysis  as part of the market research component of your business plan. This will tell you who you’re up against and give you ideas on how to differentiate your brand. A broad competitive analysis might include:

  • Target customers
  • Unique value add  or what sets their products apart
  • Sales pitch
  • Price points  for products
  • Shipping  policy
  • Products and services

This section of your business plan describes your offerings—which products and services do you sell to your customers? Here’s an example for Paw Print Post:

An example products and services section from a business plan

  • Marketing plan

It’s always a good idea to develop a marketing plan  before you launch your business. Your marketing plan shows how you’ll get the word out about your business, and it’s an essential component of your business plan as well.

The Paw Print Post focuses on four Ps: price, product, promotion, and place. However, you can take a different approach with your marketing plan. Maybe you can pull from your existing  marketing strategy , or maybe you break it down by the different marketing channels. Whatever approach you take, your marketing plan should describe how you intend to promote your business and offerings to potential customers.

  • Logistics and operations plan

The Paw Print Post example considered suppliers, production, facilities, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan provides a breakdown of sales, revenue, profit, expenses, and other relevant financial metrics related to funding and profiting from your business.

Ecommerce brand  Nature’s Candy’s financial plan  breaks down predicted revenue, expenses, and net profit in graphs.

A sample bar chart showing business expenses by month

It then dives deeper into the financials to include:

  • Funding needs
  • Projected profit-and-loss statement
  • Projected balance sheet
  • Projected cash-flow statement

You can use this financial plan spreadsheet to build your own financial statements, including income statement, balance sheet, and cash-flow statement.

A sample financial plan spreadsheet

Types of business plans, and what to include for each

A one-page business plan is meant to be high level and easy to understand at a glance. You’ll want to include all of the sections, but make sure they’re truncated and summarized:

  • Executive summary: truncated
  • Market analysis: summarized
  • Products and services: summarized
  • Marketing plan: summarized
  • Logistics and operations plan: summarized
  • Financials: summarized

A startup business plan is for a new business. Typically, these plans are developed and shared to secure  outside funding . As such, there’s a bigger focus on the financials, as well as on other sections that determine viability of your business idea—market research, for example.

  • Market analysis: in-depth
  • Financials: in-depth

Your internal business plan is meant to keep your team on the same page and aligned toward the same goal.

A strategic, or growth, business plan is a bigger picture, more-long-term look at your business. As such, the forecasts tend to look further into the future, and growth and revenue goals may be higher. Essentially, you want to use all the sections you would in a normal business plan and build upon each.

  • Market analysis: comprehensive outlook
  • Products and services: for launch and expansion
  • Marketing plan: comprehensive outlook
  • Logistics and operations plan: comprehensive outlook
  • Financials: comprehensive outlook

Feasibility

Your feasibility business plan is sort of a pre-business plan—many refer to it as simply a feasibility study. This plan essentially lays the groundwork and validates that it’s worth the effort to make a full business plan for your idea. As such, it’s mostly centered around research.

Set yourself up for success as a business owner

Building a good business plan serves as a roadmap you can use for your ecommerce business at launch and as you reach each of your business goals. Business plans create accountability for entrepreneurs and synergy among teams, regardless of your  business model .

Kickstart your ecommerce business and set yourself up for success with an intentional business planning process—and with the sample business plans above to guide your own path.

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Business plan examples FAQ

How do i write a simple business plan, what is the best format to write a business plan, what are the 4 key elements of a business plan.

  • Executive summary: A concise overview of the company's mission, goals, target audience, and financial objectives.
  • Business description: A description of the company's purpose, operations, products and services, target markets, and competitive landscape.
  • Market analysis: An analysis of the industry, market trends, potential customers, and competitors.
  • Financial plan: A detailed description of the company's financial forecasts and strategies.

What are the 3 main points of a business plan?

  • Concept: Your concept should explain the purpose of your business and provide an overall summary of what you intend to accomplish.
  • Contents: Your content should include details about the products and services you provide, your target market, and your competition.
  • Cashflow: Your cash flow section should include information about your expected cash inflows and outflows, such as capital investments, operating costs, and revenue projections.

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Business Plan Example and Template

Learn how to create a business plan

What is a Business Plan?

A business plan is a document that contains the operational and financial plan of a business, and details how its objectives will be achieved. It serves as a road map for the business and can be used when pitching investors or financial institutions for debt or equity financing .

Business Plan - Document with the words Business Plan on the title

A business plan should follow a standard format and contain all the important business plan elements. Typically, it should present whatever information an investor or financial institution expects to see before providing financing to a business.

Contents of a Business Plan

A business plan should be structured in a way that it contains all the important information that investors are looking for. Here are the main sections of a business plan:

1. Title Page

The title page captures the legal information of the business, which includes the registered business name, physical address, phone number, email address, date, and the company logo.

2. Executive Summary

The executive summary is the most important section because it is the first section that investors and bankers see when they open the business plan. It provides a summary of the entire business plan. It should be written last to ensure that you don’t leave any details out. It must be short and to the point, and it should capture the reader’s attention. The executive summary should not exceed two pages.

3. Industry Overview

The industry overview section provides information about the specific industry that the business operates in. Some of the information provided in this section includes major competitors, industry trends, and estimated revenues. It also shows the company’s position in the industry and how it will compete in the market against other major players.

4. Market Analysis and Competition

The market analysis section details the target market for the company’s product offerings. This section confirms that the company understands the market and that it has already analyzed the existing market to determine that there is adequate demand to support its proposed business model.

Market analysis includes information about the target market’s demographics , geographical location, consumer behavior, and market needs. The company can present numbers and sources to give an overview of the target market size.

A business can choose to consolidate the market analysis and competition analysis into one section or present them as two separate sections.

5. Sales and Marketing Plan

The sales and marketing plan details how the company plans to sell its products to the target market. It attempts to present the business’s unique selling proposition and the channels it will use to sell its goods and services. It details the company’s advertising and promotion activities, pricing strategy, sales and distribution methods, and after-sales support.

6. Management Plan

The management plan provides an outline of the company’s legal structure, its management team, and internal and external human resource requirements. It should list the number of employees that will be needed and the remuneration to be paid to each of the employees.

Any external professionals, such as lawyers, valuers, architects, and consultants, that the company will need should also be included. If the company intends to use the business plan to source funding from investors, it should list the members of the executive team, as well as the members of the advisory board.

7. Operating Plan

The operating plan provides an overview of the company’s physical requirements, such as office space, machinery, labor, supplies, and inventory . For a business that requires custom warehouses and specialized equipment, the operating plan will be more detailed, as compared to, say, a home-based consulting business. If the business plan is for a manufacturing company, it will include information on raw material requirements and the supply chain.

8. Financial Plan

The financial plan is an important section that will often determine whether the business will obtain required financing from financial institutions, investors, or venture capitalists. It should demonstrate that the proposed business is viable and will return enough revenues to be able to meet its financial obligations. Some of the information contained in the financial plan includes a projected income statement , balance sheet, and cash flow.

9. Appendices and Exhibits

The appendices and exhibits part is the last section of a business plan. It includes any additional information that banks and investors may be interested in or that adds credibility to the business. Some of the information that may be included in the appendices section includes office/building plans, detailed market research , products/services offering information, marketing brochures, and credit histories of the promoters.

Business Plan Template - Components

Business Plan Template

Here is a basic template that any business can use when developing its business plan:

Section 1: Executive Summary

  • Present the company’s mission.
  • Describe the company’s product and/or service offerings.
  • Give a summary of the target market and its demographics.
  • Summarize the industry competition and how the company will capture a share of the available market.
  • Give a summary of the operational plan, such as inventory, office and labor, and equipment requirements.

Section 2: Industry Overview

  • Describe the company’s position in the industry.
  • Describe the existing competition and the major players in the industry.
  • Provide information about the industry that the business will operate in, estimated revenues, industry trends, government influences, as well as the demographics of the target market.

Section 3: Market Analysis and Competition

  • Define your target market, their needs, and their geographical location.
  • Describe the size of the market, the units of the company’s products that potential customers may buy, and the market changes that may occur due to overall economic changes.
  • Give an overview of the estimated sales volume vis-à-vis what competitors sell.
  • Give a plan on how the company plans to combat the existing competition to gain and retain market share.

Section 4: Sales and Marketing Plan

  • Describe the products that the company will offer for sale and its unique selling proposition.
  • List the different advertising platforms that the business will use to get its message to customers.
  • Describe how the business plans to price its products in a way that allows it to make a profit.
  • Give details on how the company’s products will be distributed to the target market and the shipping method.

Section 5: Management Plan

  • Describe the organizational structure of the company.
  • List the owners of the company and their ownership percentages.
  • List the key executives, their roles, and remuneration.
  • List any internal and external professionals that the company plans to hire, and how they will be compensated.
  • Include a list of the members of the advisory board, if available.

Section 6: Operating Plan

  • Describe the location of the business, including office and warehouse requirements.
  • Describe the labor requirement of the company. Outline the number of staff that the company needs, their roles, skills training needed, and employee tenures (full-time or part-time).
  • Describe the manufacturing process, and the time it will take to produce one unit of a product.
  • Describe the equipment and machinery requirements, and if the company will lease or purchase equipment and machinery, and the related costs that the company estimates it will incur.
  • Provide a list of raw material requirements, how they will be sourced, and the main suppliers that will supply the required inputs.

Section 7: Financial Plan

  • Describe the financial projections of the company, by including the projected income statement, projected cash flow statement, and the balance sheet projection.

Section 8: Appendices and Exhibits

  • Quotes of building and machinery leases
  • Proposed office and warehouse plan
  • Market research and a summary of the target market
  • Credit information of the owners
  • List of product and/or services

Related Readings

Thank you for reading CFI’s guide to Business Plans. To keep learning and advancing your career, the following CFI resources will be helpful:

  • Corporate Structure
  • Three Financial Statements
  • Business Model Canvas Examples
  • See all management & strategy resources
  • Share this article

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Watch CBS News

What is Project 2025? What to know about the conservative blueprint for a second Trump administration

By Melissa Quinn , Jacob Rosen

Updated on: July 11, 2024 / 9:40 AM EDT / CBS News

Washington — Voters in recent weeks have begun to hear the name "Project 2025" invoked more and more by President Biden and Democrats, as they seek to sound the alarm about what could be in store if former President Donald Trump wins a second term in the White House.

Overseen by the conservative Heritage Foundation, the multi-pronged initiative includes a detailed blueprint for the next Republican president to usher in a sweeping overhaul of the executive branch.

Trump and his campaign have worked to distance themselves from Project 2025, with the former president going so far as to call some of the proposals "abysmal." But Democrats have continued to tie the transition project to Trump, especially as they find themselves mired in their own controversy over whether Mr. Biden should withdraw from the 2024 presidential contest following his startling debate performance last month.

Here is what to know about Project 2025:

What is Project 2025?

Project 2025 is a proposed presidential transition project that is composed of four pillars: a policy guide for the next presidential administration; a LinkedIn-style database of personnel who could serve in the next administration; training for that pool of candidates dubbed the "Presidential Administration Academy;" and a playbook of actions to be taken within the first 180 days in office.

It is led by two former Trump administration officials: Paul Dans, who was chief of staff at the Office of Personnel Management and serves as director of the project, and Spencer Chretien, former special assistant to Trump and now the project's associate director.

Project 2025 is spearheaded by the Heritage Foundation, but includes an advisory board consisting of more than 100 conservative groups.

Much of the focus on — and criticism of — Project 2025 involves its first pillar, the nearly 900-page policy book that lays out an overhaul of the federal government. Called "Mandate for Leadership 2025: The Conservative Promise," the book builds on a "Mandate for Leadership" first published in January 1981, which sought to serve as a roadmap for Ronald Reagan's incoming administration.

The recommendations outlined in the sprawling plan reach every corner of the executive branch, from the Executive Office of the President to the Department of Homeland Security to the little-known Export-Import Bank. 

President Donald Trump speaks during a meeting with advisers in the Oval Office of the White House in Washington, D,C., on June 25, 2019.

The Heritage Foundation also created a "Mandate for Leadership" in 2015 ahead of Trump's first term. Two years into his presidency, it touted that Trump had instituted 64% of its policy recommendations, ranging from leaving the Paris Climate Accords, increasing military spending, and increasing off-shore drilling and developing federal lands. In July 2020, the Heritage Foundation gave its updated version of the book to then-White House Chief of Staff Mark Meadows. 

The authors of many chapters are familiar names from the Trump administration, such as Russ Vought, who led the Office of Management and Budget; former acting Defense Secretary Chris Miller; and Roger Severino, who was director of the Office of Civil Rights at the Department of Health and Human Services.

Vought is the policy director for the 2024 Republican National Committee's platform committee, which released its proposed platform on Monday. 

John McEntee, former director of the White House Presidential Personnel Office under Trump, is a senior advisor to the Heritage Foundation, and said that the group will "integrate a lot of our work" with the Trump campaign when the official transition efforts are announced in the next few months.

Candidates interested in applying for the Heritage Foundation's "Presidential Personnel Database" are vetted on a number of political stances, such as whether they agree or disagree with statements like "life has a right to legal protection from conception to natural death," and "the President should be able to advance his/her agenda through the bureaucracy without hindrance from unelected federal officials."

The contributions from ex-Trump administration officials have led its critics to tie Project 2025 to his reelection campaign, though the former president has attempted to distance himself from the initiative.

What are the Project 2025 plans?

Some of the policies in the Project 2025 agenda have been discussed by Republicans for years or pushed by Trump himself: less federal intervention in education and more support for school choice; work requirements for able-bodied, childless adults on food stamps; and a secure border with increased enforcement of immigration laws, mass deportations and construction of a border wall. 

But others have come under scrutiny in part because of the current political landscape. 

Abortion and social issues

In recommendations for the Department of Health and Human Services, the agenda calls for the Food and Drug Administration to reverse its 24-year-old approval of the widely used abortion pill mifepristone. Other proposed actions targeting medication abortion include reinstating more stringent rules for mifepristone's use, which would permit it to be taken up to seven weeks into a pregnancy, instead of the current 10 weeks, and requiring it to be dispensed in-person instead of through the mail.

The Alliance Defending Freedom, a conservative legal group that is on the Project 2025 advisory board, was involved in a legal challenge to mifepristone's 2000 approval and more recent actions from the FDA that made it easier to obtain. But the Supreme Court rejected the case brought by a group of anti-abortion rights doctors and medical associations on procedural grounds.

The policy book also recommends the Justice Department enforce the Comstock Act against providers and distributors of abortion pills. That 1873 law prohibits drugs, medicines or instruments used in abortions from being sent through the mail.

US-NEWS-SCOTUS-ABORTION-PILL-NEWSOM-TB

Now that the Supreme Court has overturned Roe v. Wade , the volume states that the Justice Department "in the next conservative administration should therefore announce its intent to enforce federal law against providers and distributors of such pills."

The guide recommends the next secretary of Health and Human Services get rid of the Reproductive Healthcare Access Task Force established by the Biden administration before Roe's reversal and create a "pro-life task force to ensure that all of the department's divisions seek to use their authority to promote the life and health of women and their unborn children."

In a section titled "The Family Agenda," the proposal recommends the Health and Human Services chief "proudly state that men and women are biological realities," and that "married men and women are the ideal, natural family structure because all children have a right to be raised by the men and women who conceived them."

Further, a program within the Health and Human Services Department should "maintain a biblically based, social science-reinforced definition of marriage and family."

During his first four years in office, Trump banned transgender people from serving in the military. Mr. Biden reversed that policy , but the Project 2025 policy book calls for the ban to be reinstated.

Targeting federal agencies, employees and policies

The agenda takes aim at longstanding federal agencies, like the National Oceanic and Atmospheric Administration, or NOAA. The agency is a component of the Commerce Department and the policy guide calls for it to be downsized. 

NOAA's six offices, including the National Weather Service and National Marine Fisheries Service, "form a colossal operation that has become one of the main drivers of the climate change alarm industry and, as such, is harmful to future U.S. prosperity," the guide states. 

The Department of Homeland Security, established in 2002, should be dismantled and its agencies either combined with others, or moved under the purview of other departments altogether, the policy book states. For example, immigration-related entities from the Departments of Homeland Security, Justice and Health and Human Services should form a standalone, Cabinet-level border and immigration agency staffed by more than 100,000 employees, according to the agenda.

The Department of Homeland Security logo is seen on a law enforcement vehicle in Washington on March 7, 2017.

If the policy recommendations are implemented, another federal agency that could come under the knife by the next administration, with action from Congress, is the Consumer Financial Protection Bureau.

The agenda seeks to bring a push by conservatives to target diversity, equity and inclusion, or DEI, initiatives in higher education to the executive branch by wiping away a slew of DEI-related positions, policies and programs and calling for the elimination of funding for partners that promote DEI practices.

It states that U.S. Agency for International Development staff and grantees that "engage in ideological agitation on behalf of the DEI agenda" should be terminated. At the Treasury Department, the guide says the next administration should "treat the participation in any critical race theory or DEI initiative without objecting on constitutional or moral grounds, as per se grounds for termination of employment."

The Project 2025 policy book also takes aim at more innocuous functions of government. It calls for the next presidential administration to eliminate or reform the dietary guidelines that have been published by the Department of Agriculture for more than 40 years, which the authors claim have been "infiltrated" by issues like climate change and sustainability.

Immigration

Trump made immigration a cornerstone of his last two presidential runs and has continued to hammer the issue during his 2024 campaign. Project 2025's agenda not only recommends finishing the wall along the U.S.-Mexico border, but urges the next administration to "take a creative and aggressive approach" to responding to drug cartels at the border. This approach includes using active-duty military personnel and the National Guard to help with arrest operations along the southern border.

A memo from Immigration and Customs Enforcement that prohibits enforcement actions from taking place at "sensitive" places like schools, playgrounds and churches should be rolled back, the policy guide states. 

When the Homeland Security secretary determines there is an "actual or anticipated mass migration of aliens" that presents "urgent circumstances" warranting a federal response, the agenda says the secretary can make rules and regulations, including through their expulsion, for as long as necessary. These rules, the guide states, aren't subject to the Administration Procedure Act, which governs the agency rule-making process.

What do Trump and his advisers say about Project 2025?

In a post to his social media platform on July 5, Trump wrote , "I know nothing about Project 2025. I have no idea who is behind it. I disagree with some of the things they're saying and some of the things they're saying are absolutely ridiculous and abysmal. Anything they do, I wish them luck, but I have nothing to do with them."

Trump's pushback to the initiative came after Heritage Foundation President Kevin Roberts said in a podcast interview that the nation is "in the process of the second American Revolution, which will remain bloodless if the left allows it to be."

The former president continued to disavow the initiative this week, writing in another social media post  that he knows nothing about Project 2025.

"I have not seen it, have no idea who is in charge of it, and, unlike our very well received Republican Platform, had nothing to do with it," Trump wrote. "The Radical Left Democrats are having a field day, however, trying to hook me into whatever policies are stated or said. It is pure disinformation on their part. By now, after all of these years, everyone knows where I stand on EVERYTHING!"

While the former president said he doesn't know who is in charge of the initiative, the project's director, Dans, and associate director, Chretien, were high-ranking officials in his administration. Additionally, Ben Carson, former secretary of Housing and Urban Development under Trump; John Ratcliffe, former director of National Intelligence in the Trump administration; and Peter Navarro, who served as a top trade adviser to Trump in the White House, are listed as either authors or contributors to the policy agenda.

Still, even before Roberts' comments during "The War Room" podcast — typically hosted by conservative commentator Steve Bannon, who reported to federal prison to begin serving a four-month sentence last week — Trump's top campaign advisers have stressed that Project 2025 has no official ties to his reelection bid.

Susie Wiles and Chris LaCivita, senior advisers to the Trump campaign, said in a November statement that 2024 policy announcements will be made by Trump or his campaign team.

"Any personnel lists, policy agendas, or government plans published anywhere are merely suggestions," they said.

While the efforts by outside organizations are "appreciated," Wiles and LaCivita said, "none of these groups or individuals speak for President Trump or his campaign."

In response to Trump's post last week, Project 2025 reiterated that it was separate from the Trump campaign.

"As we've been saying for more than two years now, Project 2025 does not speak for any candidate or campaign. We are a coalition of more than 110 conservative groups advocating policy & personnel recommendations for the next conservative president. But it is ultimately up to that president, who we believe will be President Trump, to decide which recommendations to implement," a statement on the project's X account said.

The initiative has also pushed back on Democrats' claims about its policy proposals and accused them of lying about what the agenda contains.

What do Democrats say?

Despite their attempts to keep some distance from Project 2025, Democrats continue to connect Trump with the transition effort. The Biden-Harris campaign frequently posts about the project on X, tying it to a second Trump term.

Mr. Biden himself accused his Republican opponent of lying about his connections to the Project 2025 agenda, saying in a statement that the agenda was written for Trump and "should scare every single American." He claimed on his campaign social media account  Wednesday that Project 2025 "will destroy America."

Congressional Democrats have also begun pivoting to Project 2025 when asked in interviews about Mr. Biden's fitness for a second term following his lackluster showing at the June 27 debate, the first in which he went head-to-head with Trump.

"Trump is all about Project 2025," Pennsylvania Sen. John Fetterman told CNN on Monday. "I mean, that's what we really should be voting on right now. It's like, do we want the kind of president that is all about Project '25?"

Rep. Jim Clyburn of South Carolina, one of Mr. Biden's closest allies on Capitol Hill, told reporters Monday that the agenda for the next Republican president was the sole topic he would talk about.

"Project 2025, that's my only concern," he said. "I don't want you or my granddaughter to live under that government."

In a statement reiterating her support for Mr. Biden, Rep. Frederica Wilson of Florida called Project 2025 "MAGA Republicans' draconian 920-page plan to end U.S. democracy, give handouts to the wealthy and strip Americans of their freedoms."

What are Republicans saying about Project 2025?

Two GOP senators under consideration to serve as Trump's running mate sought to put space between the White House hopeful and Project 2025, casting it as merely the product of a think tank that puts forth ideas.

"It's the work of a think tank, of a center-right think tank, and that's what think tanks do," Florida Sen. Marco Rubio told CNN's "State of the Union" on Sunday.

He said Trump's message to voters focuses on "restoring common sense, working-class values, and making our decisions on the basis of that."

Ohio Sen. J.D. Vance raised a similar sentiment in an interview with NBC's "Meet the Press," saying organizations will have good ideas and bad ideas.

"It's a 900-page document," he said Sunday. "I guarantee there are things that Trump likes and dislikes about that 900-page document. But he is the person who will determine the agenda of the next administration."

Jaala Brown contributed to this report.

Melissa Quinn is a politics reporter for CBSNews.com. She has written for outlets including the Washington Examiner, Daily Signal and Alexandria Times. Melissa covers U.S. politics, with a focus on the Supreme Court and federal courts.

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IMAGES

  1. Chapter 4

    business plan chapter 4 example

  2. Business Chapter 4 Notes

    business plan chapter 4 example

  3. Chapter IV Draft

    business plan chapter 4 example

  4. Business PLAN Chapter FOUR

    business plan chapter 4 example

  5. Sample Business Plan

    business plan chapter 4 example

  6. Free Printable Business Plan Sample Form (GENERIC)

    business plan chapter 4 example

VIDEO

  1. How to write a business plan, part 3

  2. Business Plan, Purpose and Contents of a business plan, Introduction to Entrepreneurship in hindi

  3. Managerial Planning

  4. ₹10,000 में बनो DISTRIBUTOR

  5. Notes For Class 12 Business Studies Chapter 4 Planning( notes in description)

  6. Business Plan Guideline Series episode 4: Financial plan and Marketing Analysis

COMMENTS

  1. Chapter 4

    A business plan may also address major expansion of an existing firm. A business plan can be a response to some changes in the external environment that presents new opportunities. Therefore, writing a business plan should be thought of as ongoing process and as the means to an end product. 4. Importance of the Business Plan. New venture ...

  2. Business Plan Chapter 4

    Chapter 4 OPERATIONAL OR PRODUCTION PLAN: This part of the plan describes how the products or services of the business will be processed. It shows a breakdown of the equipment, materials. 4: Product or Service Design and Development: Describe the intended product or service design and development. What will be the design of the proposed product(s) or service(s) of the proposed business? How do ...

  3. 1.4: Chapter 4

    Business Valuation. There are a multitude of sophisticated business valuation methodologies. A rule of thumb for business valuations is a multiple of its earnings. For example, if the chosen multiple is five and the business' earnings before taxes are $55M, the business' valuation would be approximately $275M.

  4. How to Write a Business Plan: Guide + Examples

    Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. A good business plan is much more than just a document that you write once and forget about. It's also a guide that helps you outline and achieve your goals. After completing your plan, you can ...

  5. Business Plan Development Guide

    Chapter 1 - Developing a Business Plan. Chapter 2 - Essential Initial Research. Chapter 3 - Business Models. Chapter 4 - Initial Business Plan Draft. Chapter 5 - Making the Business Plan Realistic. Chapter 6 - Making the Plan Appeal to Stakeholders and Desirable to the Entrepreneur. Chapter 7 - Finishing the Business Plan.

  6. PDF Chapter 4: The Business Plan

    This chapter introduces the . business plan. The business plan is a road map for getting your business started. It provides specific information about what is needed to get your business up and running. It builds on information you gathered in Chapter 3: Business Feasibility. A major reason businesses fail is lack of planning. The business plan ...

  7. PDF Chapter 4: The Business Plan

    Tab 1: Introduction. This chapter introduces the business plan. The business plan is a road map for getting your business started. It is where you write down the details about what you need to do to get your business up and running. The business plan expands on the information you filled out in the worksheets for Chapter 3: Business Feasibility.

  8. 11.4 The Business Plan

    For instance, Chris Guillebeau has a one-page business plan template in his book The $100 Startup. 48 His version is basically an extension of a napkin sketch without the detail of a full business plan. As you progress, you can also consider a brief business plan (about two pages)—if you want to support a rapid business launch—and/or a ...

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

    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:

  10. How to Write a Business Plan: The Ultimate Guide in 2024

    If you want to make sure that you write a great business plan, this guide will give you a lot of value. Read on! Chapter 1: Business Plan Fundamentals. Chapter 2: How to Do Market Research for Your Business Plan. Chapter 3: How to Write a Business Plan. Chapter 4: Business Plan Template. Chapter 5: Helpful Resources.

  11. Write your business plan

    A good business plan guides you through each stage of starting and managing your business. You'll use your business plan as a roadmap for how to structure, run, and grow your new business. It's a way to think through the key elements of your business. Business plans can help you get funding or bring on new business partners.

  12. 550+ Sample Business Plan Examples to Inspire Your Own

    The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea. The structure ditches a linear format in favor of a cell-based template.

  13. 7 Business Plan Examples to Inspire Your Own (2024)

    7 business plan examples: section by section. The business plan examples in this article follow this template: Executive summary. An introductory overview of your business. Company description. A more in-depth and detailed description of your business and why it exists. Market analysis.

  14. Business Plan

    A business plan should be structured in a way that it contains all the important information that investors are looking for. Here are the main sections of a business plan: 1. Title Page. The title page captures the legal information of the business, which includes the registered business name, physical address, phone number, email address, date ...

  15. 1.4: Chapter 4

    Learning Objectives. After completing this chapter you will be able to. Describe what a business model is. Analyse existing and proposed businesses to determine what business models they are applying and what business models they plan to apply. Develop and analyze alternative business models for new entrepreneurial ventures.

  16. Business Plan-Chapter 4

    Business PLAN-template; Contoh Assignment 2- Business Opportunity; Related documents. Contoh Business Plan - Executive Summary; Chapter 4 Operation Plan; QUIZ 1 ENT300 OCT21; ENT300 Business PLAN- Example Grouping Assignment; Contoh BMC- Assignment ENT 300; CASE Study 1 TECHNOLOGY ENTREPRENEURSHIP (ENT 600): CASE STUDY (Hunger Vibes) ...

  17. PDF Chapter 4: The Business Plan

    Tab 1: Introduction. This chapter introduces the business plan. The business plan is a road map for getting your business started. It is where you write down the details about what you need to do to get your business up and running. The business plan expands on the information you filled out in the worksheets for Chapter 3: Business Feasibility.

  18. Chapter 4

    Business plan chapter presentation, analysis and interpretation of data this chapter presents the interpretation of data of the study entitled study on status. ... Given this sample size of (n=30), it has a total mean of 2 which corresponds to the range given 1.67-2 that is Motivated. As referred to the question number 6, out of 10 questions it ...

  19. Project 2025 would overhaul the U.S. tax system. Here's how it could

    How Project 2025 would impact the U.S. tax code 04:18. Project 2025, a 900-page blueprint for the next Republican president, is gaining attention for its proposals to overhaul the federal government.

  20. What is Project 2025? What to know about the conservative blueprint for

    In a statement reiterating her support for Mr. Biden, Rep. Frederica Wilson of Florida called Project 2025 "MAGA Republicans' draconian 920-page plan to end U.S. democracy, give handouts to the ...