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Small Business Trends
How to create a business plan: examples & free template.
Whether you’re a seasoned entrepreneur or launching your very first startup, the guide will give you the insights, tools, and confidence you need to create a solid foundation for your business.
Table of Contents
How to Write a Business Plan
Executive summary.
It’s crucial to include a clear mission statement, a brief description of your primary products or services, an overview of your target market, and key financial projections or achievements.
Our target market includes environmentally conscious consumers and businesses seeking to reduce their carbon footprint. We project a 200% increase in revenue within the first three years of operation.
Overview and Business Objectives
Example: EcoTech’s primary objective is to become a market leader in sustainable technology products within the next five years. Our key objectives include:
Company Description
Example: EcoTech is committed to developing cutting-edge sustainable technology products that benefit both the environment and our customers. Our unique combination of innovative solutions and eco-friendly design sets us apart from the competition. We envision a future where technology and sustainability go hand in hand, leading to a greener planet.
Define Your Target Market
Market analysis.
The Market Analysis section requires thorough research and a keen understanding of the industry. It involves examining the current trends within your industry, understanding the needs and preferences of your customers, and analyzing the strengths and weaknesses of your competitors.
Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.
SWOT Analysis
Including a SWOT analysis demonstrates to stakeholders that you have a balanced and realistic understanding of your business in its operational context.
Competitive Analysis
Organization and management team.
Provide an overview of your company’s organizational structure, including key roles and responsibilities. Introduce your management team, highlighting their expertise and experience to demonstrate that your team is capable of executing the business plan successfully.
Products and Services Offered
This section should emphasize the value you provide to customers, demonstrating that your business has a deep understanding of customer needs and is well-positioned to deliver innovative solutions that address those needs and set your company apart from competitors.
Marketing and Sales Strategy
Discuss how these marketing and sales efforts will work together to attract and retain customers, generate leads, and ultimately contribute to achieving your business’s revenue goals.
Logistics and Operations Plan
Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.
We also prioritize efficient distribution through various channels, including online platforms and retail partners, to deliver products to our customers in a timely manner.
Financial Projections Plan
This forward-looking financial plan is crucial for demonstrating that you have a firm grasp of the financial nuances of your business and are prepared to manage its financial health effectively.
Income Statement
Cash flow statement.
A cash flow statement is a crucial part of a financial business plan that shows the inflows and outflows of cash within your business. It helps you monitor your company’s liquidity, ensuring you have enough cash on hand to cover operating expenses, pay debts, and invest in growth opportunities.
Section | Description | Example |
---|---|---|
Executive Summary | Brief overview of the business plan | Overview of EcoTech and its mission |
Overview & Objectives | Outline of company's goals and strategies | Market leadership in sustainable technology |
Company Description | Detailed explanation of the company and its unique selling proposition | EcoTech's history, mission, and vision |
Target Market | Description of ideal customers and their needs | Environmentally conscious consumers and businesses |
Market Analysis | Examination of industry trends, customer needs, and competitors | Trends in eco-friendly technology market |
SWOT Analysis | Evaluation of Strengths, Weaknesses, Opportunities, and Threats | Strengths and weaknesses of EcoTech |
Competitive Analysis | In-depth analysis of competitors and their strategies | Analysis of GreenTech and EarthSolutions |
Organization & Management | Overview of the company's structure and management team | Key roles and team members at EcoTech |
Products & Services | Description of offerings and their unique features | Energy-efficient lighting solutions, solar chargers |
Marketing & Sales | Outline of marketing channels and sales strategies | Digital advertising, content marketing, influencer partnerships |
Logistics & Operations | Details about daily operations, supply chain, inventory, and quality control | Partnerships with manufacturers, quality control |
Financial Projections | Forecast of revenue, expenses, and profit for the next 3-5 years | Projected growth in revenue and net profit |
Income Statement | Summary of company's revenues and expenses over a specified period | Revenue, Cost of Goods Sold, Gross Profit, Net Income |
Cash Flow Statement | Overview of cash inflows and outflows within the business | Net Cash from Operating Activities, Investing Activities, Financing Activities |
Tips on Writing a Business Plan
4. Focus on your unique selling proposition (USP): Clearly articulate what sets your business apart from the competition. Emphasize your USP throughout your business plan to showcase your company’s value and potential for success.
FREE Business Plan Template
To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.
What is a Business Plan?
Why you should write a business plan.
Understanding the importance of a business plan in today’s competitive environment is crucial for entrepreneurs and business owners. Here are five compelling reasons to write a business plan:
What are the Different Types of Business Plans?
Type of Business Plan | Purpose | Key Components | Target Audience |
---|---|---|---|
Startup Business Plan | Outlines the company's mission, objectives, target market, competition, marketing strategies, and financial projections. | Mission Statement, Company Description, Market Analysis, Competitive Analysis, Organizational Structure, Marketing and Sales Strategy, Financial Projections. | Entrepreneurs, Investors |
Internal Business Plan | Serves as a management tool for guiding the company's growth, evaluating its progress, and ensuring that all departments are aligned with the overall vision. | Strategies, Milestones, Deadlines, Resource Allocation. | Internal Team Members |
Strategic Business Plan | Outlines long-term goals and the steps to achieve them. | SWOT Analysis, Market Research, Competitive Analysis, Long-Term Goals. | Executives, Managers, Investors |
Feasibility Business Plan | Assesses the viability of a business idea. | Market Demand, Competition, Financial Projections, Potential Obstacles. | Entrepreneurs, Investors |
Growth Business Plan | Focuses on strategies for scaling up an existing business. | Market Analysis, New Product/Service Offerings, Financial Projections. | Business Owners, Investors |
Operational Business Plan | Outlines the company's day-to-day operations. | Processes, Procedures, Organizational Structure. | Managers, Employees |
Lean Business Plan | A simplified, agile version of a traditional plan, focusing on key elements. | Value Proposition, Customer Segments, Revenue Streams, Cost Structure. | Entrepreneurs, Startups |
One-Page Business Plan | A concise summary of your company's key objectives, strategies, and milestones. | Key Objectives, Strategies, Milestones. | Entrepreneurs, Investors, Partners |
Nonprofit Business Plan | Outlines the mission, goals, target audience, fundraising strategies, and budget allocation for nonprofit organizations. | Mission Statement, Goals, Target Audience, Fundraising Strategies, Budget. | Nonprofit Leaders, Board Members, Donors |
Franchise Business Plan | Focuses on the franchisor's requirements, as well as the franchisee's goals, strategies, and financial projections. | Franchise Agreement, Brand Standards, Marketing Efforts, Operational Procedures, Financial Projections. | Franchisors, Franchisees, Investors |
Using Business Plan Software
Upmetrics provides a simple and intuitive platform for creating a well-structured business plan. It features customizable templates, financial forecasting tools, and collaboration capabilities, allowing you to work with team members and advisors. Upmetrics also offers a library of resources to guide you through the business planning process.
Software | Key Features | User Interface | Additional Features |
---|---|---|---|
LivePlan | Over 500 sample plans, financial forecasting tools, progress tracking against KPIs | User-friendly, visually appealing | Allows creation of professional-looking business plans |
Upmetrics | Customizable templates, financial forecasting tools, collaboration capabilities | Simple and intuitive | Provides a resource library for business planning |
Bizplan | Drag-and-drop builder, modular sections, financial forecasting tools, progress tracking | Simple, visually engaging | Designed to simplify the business planning process |
Enloop | Industry-specific templates, financial forecasting tools, automatic business plan generation, unique performance score | Robust, user-friendly | Offers a free version, making it accessible for businesses on a budget |
Tarkenton GoSmallBiz | Guided business plan builder, customizable templates, financial projection tools | User-friendly | Offers CRM tools, legal document templates, and additional resources for small businesses |
Business Plan FAQs
What is a good business plan.
A good business plan is a well-researched, clear, and concise document that outlines a company’s goals, strategies, target market, competitive advantages, and financial projections. It should be adaptable to change and provide a roadmap for achieving success.
What are the 3 main purposes of a business plan?
Can i write a business plan by myself, is it possible to create a one-page business plan.
Yes, a one-page business plan is a condensed version that highlights the most essential elements, including the company’s mission, target market, unique selling proposition, and financial goals.
How long should a business plan be?
What is a business plan outline, what are the 5 most common business plan mistakes, what questions should be asked in a business plan.
A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?
What’s the difference between a business plan and a strategic plan?
How is business planning for a nonprofit different.
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How to Write a Business Plan: Beginner’s Guide (& Templates)
![description of venture in business plan example How to Write a Business Plan: Beginner’s Guide (& Templates)](https://visme.co/blog/wp-content/uploads/2021/09/business-plan-header.png)
Written by: Chloe West
![description of venture in business plan example An illustration showing a woman standing in front of a folder containing her business plan.](https://visme.co/blog/wp-content/uploads/2021/09/business-plan-header.png)
Thinking about starting a business? One of the first steps you’ll need to take is to write a business plan. A business plan can help guide you through your financial planning, marketing strategy, unique selling point and more.
Making sure you start your new business off on the right foot is key, and we’re here to help. We’ve put together this guide to help you write your first business plan. Or, you can skip the guide and dive right into a business plan template .
Ready to get started?
Here’s a short selection of 8 easy-to-edit business plan templates you can edit, share and download with Visme. View more templates below:
![description of venture in business plan example description of venture in business plan example](https://visme.co/blog/wp-content/uploads/2021/09/real-estate-business-plan-template.jpg)
8-Step Process for Writing a Business Plan
What is a business plan, why is a business plan important, step #1: write your executive summary, step #2: put together your company description, step #3: conduct your market analysis, step #4: research your competition, step #5: outline your products or services, step #6: summarize your financial plan, step #7: determine your marketing strategy, step #8: showcase your organizational chart, 14 business plan templates to help you get started.
A business plan is a document that helps potential new business owners flesh out their business idea and put together a bird’s eye view of their business. Writing a business plan is an essential step in any startup’s ideation process.
Business plans help determine demographics, market analysis, competitive analysis, financial projections, new products or services, and so much more.
Each of these bits of information are important to have on hand when you’re trying to start a business or pitching investors for funds.
Here’s an example of a business plan that you can customize to incorporate your own business information.
![description of venture in business plan example A business plan template available to customize with your own information in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/business-plan-template.jpg)
We’re going to walk you through some of the most important parts of your business plan as well as how to write your own business plan in 8 easy steps.
If you’re in the beginning stages of starting a business , you might be wondering if it’s really worth your time to write out your business plan.
We’re here to tell you that it is.
A business plan is important for a number of reasons, but mostly because it helps to set you up for success right from the start.
Here are four reasons to prove to you why you need to start your business off on the right foot with a plan.
Reason #1: Set Realistic Goals and Milestones
Putting together a business plan helps you to set your objectives for growth and make realistic goals while you begin your business.
By laying out each of the steps you need to take in order to build a successful business, you’re able to be more reasonable about what your timeline is for achieving everything as well as what your financial projections are.
The best way to set goals is using the SMART goals guidelines, outlined below.
![description of venture in business plan example An infographic on creating smart goals.](https://visme.co/blog/wp-content/uploads/2021/02/4-1.jpg)
Reason #2: Grow Your Business Faster
Having a business plan helps you be more organized and strategic, improving the overall performance of your business as you start out. In fact, one study found that businesses with a plan grow 30% faster than businesses that don’t.
Doesn’t that sound reason enough alone to start out your business venture with a solidified plan? We thought so too, but we’ve still got two more reasons.
Reason #3: Minimize Risk
Starting a new business is uncharted territory. However, when you start with a roadmap for your journey, it makes it easier to see success and minimize the risks that come with startups.
Minimize risk and maximize profitability by documenting the most important parts of your business planning.
Reason #4: Secure Funding
And finally, our last reason that business plans are so important is that if you plan to pitch investors for funding for your new venture, they’re almost always going to want to see a detailed business plan before deciding whether or not to invest.
You can easily create your business plan and investor pitch deck right here with Visme. Just sign up for a free account below to get started.
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![description of venture in business plan example Hey executives! Looking to cut design costs?](https://visme.co/blog/wp-content/themes/blog/img/shortcodes/executive-1.png)
The executive summary is a brief overview of your entire business plan, giving anyone who reads through your document a quick understanding of what they’re going to learn about your business idea.
However, you need to remember that some of the people who are going to read your business plan don’t want to or have time to read the entire thing. So your executive summary needs to incorporate all of the most important aspects of your plan.
Here’s an example of an executive summary from a business plan template you can customize and turn into your own.
![description of venture in business plan example An executive summary page from a business plan template.](https://visme.co/blog/wp-content/uploads/2021/09/executive-summary-1.jpg)
Your executive summary should include:
- Key objective(s)
- Market research
- Competitor information
- Products/services
- Value proposition
- Overview of your financial plan
- How you’re going to actually start your business
One thing to note is that you should actually write your executive summary after the rest of your business plan so that you can properly summarize everything you’ve already created.
So at this point, simply leave a page blank for your executive summary so you can come back to it at the end of your business plan.
![description of venture in business plan example An executive summary section of a business plan.](https://visme.co/blog/wp-content/uploads/2021/09/executive-summary.jpg)
The next step is to write out a full description of your business and its core offerings. This section of your business plan should include your mission statement and objectives, along with your company history or overview.
In this section, you may also briefly describe your business formation details from a legal perspective.
Mission Statement
Don’t spend too much time trying to craft this. Your mission statement is a simple “why” you started this business. What are you trying to achieve? Or what does your business solve?
This can be anything from one single quote or a paragraph, but it doesn’t need to be much longer than that. In fact, this could be very similar to your value proposition.
![description of venture in business plan example A mission statement page from a business plan template.](https://visme.co/blog/wp-content/uploads/2021/09/mission-statement.jpg)
What are your goals? What do you plan to achieve in the first 90 days or one year of your business? What kind of impact do you hope to make on the market?
These are all good points to include in your objectives section so anyone reading your business plan knows upfront what you hope to achieve.
History or Overview
If you’re not launching a brand new business or if you’ve previously worked on another iteration of this business, let potential investors know the history of your company.
If not, simply provide an overview of your business, sharing what it does or what it will do.
![description of venture in business plan example A business overview page from a business plan template.](https://visme.co/blog/wp-content/uploads/2021/09/business-overview.jpg)
Your third step is to conduct a market analysis so you know how your business will fit into its target market. This page in your business plan is simply meant to summarize your findings. Most of your time should be spent actually doing the research.
Your market analysis needs to look at things like:
- Market size, and if it’s grown in recent years or shrinking
- The segment of the market you plan to target
- Demographics and behavior of your target audience
- The demand for your product or service
- Your competitive advantage or differentiation strategy
- The average price of your product or service
Put together a summary of your market analysis and industry research in a 1-2 page format, like we see below.
![description of venture in business plan example A market analysis page in a business plan template.](https://visme.co/blog/wp-content/uploads/2021/09/market-analysis.jpg)
Your next step is to conduct a competitive analysis. While you likely touched on this briefly during your market analysis, now is the time to do a deep dive so that you have a good grasp on what your competitors are doing and how they are generating customers.
Start by creating a profile of all your existing competitors, or at the very least, your closest competitors – the ones who are offering very similar products or services to you, or are in a similar vicinity (if you’re opening a brick and mortar store).
Focus on their strengths and what they’re doing really well so that you can emulate their best qualities in your own way. Then, look at their weaknesses and what your business can do better.
Take note of their current marketing strategy, including the outlets you see a presence, whether it’s on social media, you hear a radio ad, you see a TV ad, etc. You won’t always find all of their marketing channels, but see what you can find online and on their website.
![description of venture in business plan example A competitive analysis page in a business plan template.](https://visme.co/blog/wp-content/uploads/2021/09/competitive-analysis.jpg)
After this, take a minute to identify potential competitors based on markets you might try out in the future, products or services you plan to add to your offerings, and more.
Then put together a page or two in your business plan that highlights your competitive advantage and how you’ll be successful breaking into the market.
Step five is to dedicate a page to the products or services that your business plans to offer.
Put together a quick list and explanation of what each of the initial product or service offerings will be, but steer clear of industry jargon or buzzwords. This should be written in plain language so anyone reading has a full understanding of what your business will do.
![description of venture in business plan example A products and services page in a business plan template.](https://visme.co/blog/wp-content/uploads/2021/09/products-and-services-page-scaled.jpg)
You can have a simple list like we see in the sample page above, or you can dive a little deeper. Depending on your type of business, it might be a good idea to provide additional information about what each product or service entails.
The next step is to work on the financial data of your new business. What will your overhead be? How will your business make money? What are your estimated expenses and profits over the first few months to a year? The expenses should cover all the spending whether they are recurring costs or just one-time LLC filing fees .
There is so much that goes into your financial plan for a new business, so this is going to take some time to compile. Especially because this section of your business plan helps potential cofounders or investors understand if the idea is even viable.
![description of venture in business plan example A financial analysis page from a business plan template.](https://visme.co/blog/wp-content/uploads/2021/09/financial-analysis.jpg)
Your financial plan should include at least five major sections:
- Sales Forecast: The first thing you want to include is a forecast or financial projection of how much you think your business can sell over the next year or so. Break this down into the different products, services or facets of your business.
- Balance Sheet: This section is essentially a statement of your company’s financial position. It includes existing assets, liabilities and equity to demonstrate the company’s overall financial health.
- Income Statement: Also known as a profit and loss statement (P&L), this covers your projected expenses and revenue, showcasing whether your business will be profitable or not.
- Operating Budget: A detailed outline of your business’s income and expenses. This should showcase that your business is bringing in more than it’s spending.
- Cash Flow Statements: This tracks how much cash your business has at any given point, regardless of whether customers or clients have paid their bills or have 30-60+ days to do so.
While these are the most common financial statements, you may discover that there are other sections that you want to include or that lenders may want to see from you.
You can automate the process of looking through your documents with an OCR API , which will collect the data from all your financial statements and invoices.
The next step is coming up with a successful marketing plan so that you can actually get the word out about your business.
Throughout your business plan, you’ve already researched your competitors and your target market, both of which are major components of a good marketing strategy. You need to know who you’re marketing to, and you want to do it better than your competition.
![description of venture in business plan example A marketing plan page from a business plan template.](https://visme.co/blog/wp-content/uploads/2021/09/marketing-plan.jpg)
On this page or throughout this section of your business plan, you need to focus on your chosen marketing channels and the types of marketing content you plan to create.
Start by taking a look at the channels that your competitors are on and make sure you have a good understanding of the demographics of each channel as well. You don’t want to waste time on a marketing channel that your target audience doesn’t use.
Then, create a list of each of your planned marketing avenues. It might look something like:
- Social media ( Facebook, Instagram, Pinterest)
- Email newsletter
- Digital ads
Depending on the type of business you’re starting, this list could change quite a bit — and that’s okay. There is no one-size-fits-all marketing strategy, and you need to find the one that brings in the highest number of potential customers.
Your last section will be all about your leadership and management team members. Showcasing that you have a solid team right from the start can make potential investors feel better about funding your venture.
You can easily put together an organizational chart like the one below, with the founder/CEO at the top and each of your team leaders underneath alongside the department they’re in charge of.
![description of venture in business plan example An organizational chart template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/organizational-chart.jpg)
Simply add an organizational chart like this as a page into your overall business plan and make sure it matches the rest of your design to create a cohesive document.
If you want to create a good business plan that sets your new business up for success and attracts new investors, it’s a good idea to start with a template.
We’ve got 14 options below from a variety of different industries for you to choose from. You can customize every aspect of each template to fit your business branding and design preferences.
If you're pressed for time, Visme's AI business plan generator can churn out compelling business plans in minutes. Just input a detailed prompt, choose the design, and watch the tool generate your plan in a few seconds.
Template #1: Photography Business Plan Template
![description of venture in business plan example A photography business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/photography-business-plan-template.jpg)
This feminine and minimalistic business plan template is perfect for getting started with any kind of creative business. Utilize this template to help outline the step-by-step process of getting your new business idea up and running.
Template #2: Real Estate Business Plan Template
![description of venture in business plan example A real estate business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/real-estate-business-plan-template.jpg)
Looking for a more modern business plan design? This template is perfect for plainly laying out each of your business plans in an easy-to-understand format. Adjust the red accents with your business’s colors to personalize this template.
Template #3: Nonprofit Business Plan Template
![description of venture in business plan example A nonprofit business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/nonprofit-business-plan-template.jpg)
Creating a business and marketing plan for your nonprofit is still an essential step when you’re just starting out. You need to get the word out to increase donations and awareness for your cause.
Template #4: Restaurant Business Plan Template
![description of venture in business plan example A restaurant business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/restaurant-business-plan-template.jpg)
If your business plan needs to rely heavily on showcasing photos of your products (like food), this template is perfect for you. Get potential investors salivating at the sight of your business plan, and they’re sure to provide the capital you need.
Template #5: Fashion Business Plan Template
![description of venture in business plan example A fashion business plan template available to customize in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/fashion-business-plan-template.jpg)
Serifs are in. Utilize this template with stunning serif as all the headers to create a contemporary and trendy business plan design that fits your business. Adjust the colors to match your brand and easily input your own content.
Template #6: Daycare Business Plan Template
![description of venture in business plan example A daycare business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/daycare-business-plan.jpg)
Creating a more kid-friendly or playful business? This business plan template has bold colors and design elements that will perfectly represent your business and its mission.
Use the pages you need, and remove any that you don’t. You can also duplicate pages and move the elements around to add even more content to your business plan.
Template #7: Consulting Business Plan Template
![description of venture in business plan example A consulting business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/consulting-business-plan-template.jpg)
This classic business plan template is perfect for a consulting business that wants to use a stunning visual design to talk about its services.
Template #8: Coffee Shop Business Plan Template
![description of venture in business plan example A coffee shop business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/coffee-shop-business-plan-template.jpg)
Customize this coffee shop business plan template to match your own business idea. Adjust the colors to fit your brand or industry, replace photos with your own photography or stock photos that represent your business, and insert your own logo, fonts and colors throughout.
Template #9: SaaS Business Plan Template
![description of venture in business plan example A SaaS business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/saas-business-plan-template.jpg)
A SaaS or service-based company also needs a solid business plan that lays out its financials, list of services, target market and more. This template is the perfect starting point.
Template #10: Small Business Plan Template
![description of venture in business plan example A small business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/small-business-plan-template.jpg)
Every startup or small business needs to start out with a strong business plan in order to start off on the right foot and set yourself up for success. This template is an excellent starting point for any small business.
Template #11: Ecommerce Business Plan Template
![description of venture in business plan example An ecommerce business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/ecommerce-business-plan-template.jpg)
An ecommerce business plan is ideal for planning out your pricing strategy of all of your online products, as well as the site you plan to use for setting up your store, whether WordPress, Shopify, Wix or something else.
Template #12: Startup Business Plan Template
![description of venture in business plan example A startup business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/startup-business-plan-template.jpg)
Customize this template and make it your own! Edit and Download
This is another generic business plan template for any type of startup to customize. Switch out the content, fonts and colors to match your startup branding and increase brand equity.
Template #13: One-Page Business Plan Template
![description of venture in business plan example A single page business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/one-page-business-plan-template.jpg)
Want just a quick business plan to get your idea going before you bite the bullet and map out your entire plan? This one-page template is perfect for those just starting to flesh out a new business idea.
Template #14: Salon Business Plan Template
![description of venture in business plan example A salon business plan template available in Visme.](https://visme.co/blog/wp-content/uploads/2021/09/salon-business-plan-template.jpg)
This salon business plan template is easy on the design and utilizes a light color scheme to put more focus on the actual content. You can use the design as is or keep it as a basis for your own design elements.
Create Your Own Business Plan Today
Ready to write your business plan? Once you’ve created all of the most important sections, get started with a business plan template to really wow your investors and organize your startup plan.
Design beautiful visual content you can be proud of.
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About the Author
Chloe West is the content marketing manager at Visme. Her experience in digital marketing includes everything from social media, blogging, email marketing to graphic design, strategy creation and implementation, and more. During her spare time, she enjoys exploring her home city of Charleston with her son.
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Written by Jesse Sumrak | May 14, 2023
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Business plans might seem like an old-school stiff-collared practice, but they deserve a place in the startup realm, too. It’s probably not going to be the frame-worthy document you hang in the office—yet, it may one day be deserving of the privilege.
Whether you’re looking to win the heart of an angel investor or convince a bank to lend you money, you’ll need a business plan. And not just any ol’ notes and scribble on the back of a pizza box or napkin—you’ll need a professional, standardized report.
Bah. Sounds like homework, right?
Yes. Yes, it does.
However, just like bookkeeping, loan applications, and 404 redirects, business plans are an essential step in cementing your business foundation.
Don’t worry. We’ll show you how to write a business plan without boring you to tears. We’ve jam-packed this article with all the business plan examples, templates, and tips you need to take your non-existent proposal from concept to completion.
Table of Contents
What Is a Business Plan?
Tips to Make Your Small Business Plan Ironclad
How to Write a Business Plan in 6 Steps
Startup Business Plan Template
Business Plan Examples
Work on Making Your Business Plan
How to Write a Business Plan FAQs
What is a business plan why do you desperately need one.
A business plan is a roadmap that outlines:
- Who your business is, what it does, and who it serves
- Where your business is now
- Where you want it to go
- How you’re going to make it happen
- What might stop you from taking your business from Point A to Point B
- How you’ll overcome the predicted obstacles
While it’s not required when starting a business, having a business plan is helpful for a few reasons:
- Secure a Bank Loan: Before approving you for a business loan, banks will want to see that your business is legitimate and can repay the loan. They want to know how you’re going to use the loan and how you’ll make monthly payments on your debt. Lenders want to see a sound business strategy that doesn’t end in loan default.
- Win Over Investors: Like lenders, investors want to know they’re going to make a return on their investment. They need to see your business plan to have the confidence to hand you money.
- Stay Focused: It’s easy to get lost chasing the next big thing. Your business plan keeps you on track and focused on the big picture. Your business plan can prevent you from wasting time and resources on something that isn’t aligned with your business goals.
Beyond the reasoning, let’s look at what the data says:
- Simply writing a business plan can boost your average annual growth by 30%
- Entrepreneurs who create a formal business plan are 16% more likely to succeed than those who don’t
- A study looking at 65 fast-growth companies found that 71% had small business plans
- The process and output of creating a business plan have shown to improve business performance
Convinced yet? If those numbers and reasons don’t have you scrambling for pen and paper, who knows what will.
Don’t Skip: Business Startup Costs Checklist
Before we get into the nitty-gritty steps of how to write a business plan, let’s look at some high-level tips to get you started in the right direction:
Be Professional and Legit
You might be tempted to get cutesy or revolutionary with your business plan—resist the urge. While you should let your brand and creativity shine with everything you produce, business plans fall more into the realm of professional documents.
Think of your business plan the same way as your terms and conditions, employee contracts, or financial statements. You want your plan to be as uniform as possible so investors, lenders, partners, and prospective employees can find the information they need to make important decisions.
If you want to create a fun summary business plan for internal consumption, then, by all means, go right ahead. However, for the purpose of writing this external-facing document, keep it legit.
Know Your Audience
Your official business plan document is for lenders, investors, partners, and big-time prospective employees. Keep these names and faces in your mind as you draft your plan.
Think about what they might be interested in seeing, what questions they’ll ask, and what might convince (or scare) them. Cut the jargon and tailor your language so these individuals can understand.
Remember, these are busy people. They’re likely looking at hundreds of applicants and startup investments every month. Keep your business plan succinct and to the point. Include the most pertinent information and omit the sections that won’t impact their decision-making.
Invest Time Researching
You might not have answers to all the sections you should include in your business plan. Don’t skip over these!
Your audience will want:
- Detailed information about your customers
- Numbers and solid math to back up your financial claims and estimates
- Deep insights about your competitors and potential threats
- Data to support market opportunities and strategy
Your answers can’t be hypothetical or opinionated. You need research to back up your claims. If you don’t have that data yet, then invest time and money in collecting it. That information isn’t just critical for your business plan—it’s essential for owning, operating, and growing your company.
Stay Realistic
Your business may be ambitious, but reign in the enthusiasm just a teeny-tiny bit. The last thing you want to do is have an angel investor call BS and say “I’m out” before even giving you a chance.
The folks looking at your business and evaluating your plan have been around the block—they know a thing or two about fact and fiction. Your plan should be a blueprint for success. It should be the step-by-step roadmap for how you’re going from Point A to Point B.
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How to Write a Business Plan—6 Essential Elements
Not every business plan looks the same, but most share a few common elements. Here’s what they typically include:
- Executive Summary
- Business Overview
- Products and Services
- Market Analysis
- Competitive Analysis
- Financial Strategy
Below, we’ll break down each of these sections in more detail.
1. Executive Summary
While your executive summary is the first page of your business plan, it’s the section you’ll write last. That’s because it summarizes your entire business plan into a succinct one-pager.
Begin with an executive summary that introduces the reader to your business and gives them an overview of what’s inside the business plan.
Your executive summary highlights key points of your plan. Consider this your elevator pitch. You want to put all your juiciest strengths and opportunities strategically in this section.
2. Business Overview
In this section, you can dive deeper into the elements of your business, including answering:
- What’s your business structure? Sole proprietorship, LLC, corporation, etc.
- Where is it located?
- Who owns the business? Does it have employees?
- What problem does it solve, and how?
- What’s your mission statement? Your mission statement briefly describes why you are in business. To write a proper mission statement, brainstorm your business’s core values and who you serve.
Don’t overlook your mission statement. This powerful sentence or paragraph could be the inspiration that drives an investor to take an interest in your business. Here are a few examples of powerful mission statements that just might give you the goosebumps:
- Patagonia: Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.
- Tesla: To accelerate the world’s transition to sustainable energy.
- InvisionApp : Question Assumptions. Think Deeply. Iterate as a Lifestyle. Details, Details. Design is Everywhere. Integrity.
- TED : Spread ideas.
- Warby Parker : To offer designer eyewear at a revolutionary price while leading the way for socially conscious businesses.
3. Products and Services
As the owner, you know your business and the industry inside and out. However, whoever’s reading your document might not. You’re going to need to break down your products and services in minute detail.
For example, if you own a SaaS business, you’re going to need to explain how this business model works and what you’re selling.
You’ll need to include:
- What services you sell: Describe the services you provide and how these will help your target audience.
- What products you sell: Describe your products (and types if applicable) and how they will solve a need for your target and provide value.
- How much you charge: If you’re selling services, will you charge hourly, per project, retainer, or a mixture of all of these? If you’re selling products, what are the price ranges?
4. Market Analysis
Your market analysis essentially explains how your products and services address customer concerns and pain points. This section will include research and data on the state and direction of your industry and target market.
This research should reveal lucrative opportunities and how your business is uniquely positioned to seize the advantage. You’ll also want to touch on your marketing strategy and how it will (or does) work for your audience.
Include a detailed analysis of your target customers. This describes the people you serve and sell your product to. Be careful not to go too broad here—you don’t want to fall into the common entrepreneurial trap of trying to sell to everyone and thereby not differentiating yourself enough to survive the competition.
The market analysis section will include your unique value proposition. Your unique value proposition (UVP) is the thing that makes you stand out from your competitors. This is your key to success.
If you don’t have a UVP, you don’t have a way to take on competitors who are already in this space. Here’s an example of an ecommerce internet business plan outlining their competitive edge:
FireStarters’ competitive advantage is offering product lines that make a statement but won’t leave you broke. The major brands are expensive and not distinctive enough to satisfy the changing taste of our target customers. FireStarters offers products that are just ahead of the curve and so affordable that our customers will return to the website often to check out what’s new.
5. Competitive Analysis
Your competitive analysis examines the strengths and weaknesses of competing businesses in your market or industry. This will include direct and indirect competitors. It can also include threats and opportunities, like economic concerns or legal restraints.
The best way to sum up this section is with a classic SWOT analysis. This will explain your company’s position in relation to your competitors.
6. Financial Strategy
Your financial strategy will sum up your revenue, expenses, profit (or loss), and financial plan for the future. It’ll explain how you make money, where your cash flow goes, and how you’ll become profitable or stay profitable.
This is one of the most important sections for lenders and investors. Have you ever watched Shark Tank? They always ask about the company’s financial situation. How has it performed in the past? What’s the ongoing outlook moving forward? How does the business plan to make it happen?
Answer all of these questions in your financial strategy so that your audience doesn’t have to ask. Go ahead and include forecasts and graphs in your plan, too:
- Balance sheet: This includes your assets, liabilities, and equity.
- Profit & Loss (P&L) statement: This details your income and expenses over a given period.
- Cash flow statement: Similar to the P&L, this one will show all cash flowing into and out of the business each month.
It takes cash to change the world—lenders and investors get it. If you’re short on funding, explain how much money you’ll need and how you’ll use the capital. Where are you looking for financing? Are you looking to take out a business loan, or would you rather trade equity for capital instead?
Read More: 16 Financial Concepts Every Entrepreneur Needs to Know
Startup Business Plan Template (Copy/Paste Outline)
Ready to write your own business plan? Copy/paste the startup business plan template below and fill in the blanks.
Executive Summary Remember, do this last. Summarize who you are and your business plan in one page.
Business Overview Describe your business. What’s it do? Who owns it? How’s it structured? What’s the mission statement?
Products and Services Detail the products and services you offer. How do they work? What do you charge?
Market Analysis Write about the state of the market and opportunities. Use date. Describe your customers. Include your UVP.
Competitive Analysis Outline the competitors in your market and industry. Include threats and opportunities. Add a SWOT analysis of your business.
Financial Strategy Sum up your revenue, expenses, profit (or loss), and financial plan for the future. If you’re applying for a loan, include how you’ll use the funding to progress the business.
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5 Frame-Worthy Business Plan Examples
Want to explore other templates and examples? We got you covered. Check out these 5 business plan examples you can use as inspiration when writing your plan:
- SBA Wooden Grain Toy Company
- SBA We Can Do It Consulting
- OrcaSmart Business Plan Sample
- Plum Business Plan Template
- PandaDoc Free Business Plan Templates
Get to Work on Making Your Business Plan
If you find you’re getting stuck on perfecting your document, opt for a simple one-page business plan —and then get to work. You can always polish up your official plan later as you learn more about your business and the industry.
Remember, business plans are not a requirement for starting a business—they’re only truly essential if a bank or investor is asking for it.
Ask others to review your business plan. Get feedback from other startups and successful business owners. They’ll likely be able to see holes in your planning or undetected opportunities—just make sure these individuals aren’t your competitors (or potential competitors).
Your business plan isn’t a one-and-done report—it’s a living, breathing document. You’ll make changes to it as you grow and evolve. When the market or your customers change, your plan will need to change to adapt.
That means when you’re finished with this exercise, it’s not time to print your plan out and stuff it in a file cabinet somewhere. No, it should sit on your desk as a day-to-day reference. Use it (and update it) as you make decisions about your product, customers, and financial plan.
Review your business plan frequently, update it routinely, and follow the path you’ve developed to the future you’re building.
Keep Learning: New Product Development Process in 8 Easy Steps
What financial information should be included in a business plan?
Be as detailed as you can without assuming too much. For example, include your expected revenue, expenses, profit, and growth for the future.
What are some common mistakes to avoid when writing a business plan?
The most common mistake is turning your business plan into a textbook. A business plan is an internal guide and an external pitching tool. Cut the fat and only include the most relevant information to start and run your business.
Who should review my business plan before I submit it?
Co-founders, investors, or a board of advisors. Otherwise, reach out to a trusted mentor, your local chamber of commerce, or someone you know that runs a business.
Ready to Write Your Business Plan?
Don’t let creating a business plan hold you back from starting your business. Writing documents might not be your thing—that doesn’t mean your business is a bad idea.
Let us help you get started.
Join our free training to learn how to start an online side hustle in 30 days or less. We’ll provide you with a proven roadmap for how to find, validate, and pursue a profitable business idea (even if you have zero entrepreneurial experience).
Stuck on the ideas part? No problem. When you attend the masterclass, we’ll send you a free ebook with 100 of the hottest side hustle trends right now. It’s chock full of brilliant business ideas to get you up and running in the right direction.
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About Jesse Sumrak
Jesse Sumrak is a writing zealot focused on creating killer content. He’s spent almost a decade writing about startup, marketing, and entrepreneurship topics, having built and sold his own post-apocalyptic fitness bootstrapped business. A writer by day and a peak bagger by night (and early early morning), you can usually find Jesse preparing for the apocalypse on a precipitous peak somewhere in the Rocky Mountains of Colorado.
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How to Write a Company Description for a Business Plan
Nobody does what you do better than you, but … what is it that you do again? You might have trouble describing your business in one sentence or find yourself at a loss for words when writing a company description. Knowing how to write a company description for a business plan helps you communicate with lenders, investors, employees, and potential customers.
How to write a company description for a business plan
You put a lot of thought into your original business concept. Now you need to know how to succinctly describe your business.
Where better to describe your business than in the company description business plan?
What is a business plan?
A company description is just one part of your small business plan . The business plan outlines your goals and how to achieve them.
According to the Small Business Administration , a successful business plan should include the following:
- Executive summary
- Company description (Bingo)
- Small business market analysis
- Organization and management details
- Service or product information
- Marketing and sales overview
- Funding request
- Financial projections
Another thing to note about business plans is that you can’t write one and be done. Your business is always changing. And that means your business plan is always changing, too. Be sure to update it regularly.
What is a business description?
A company description provides an overview of key aspects of your business, like what you do and what makes your business unique. Anyone reading your business description should have no problem understanding the scope of your business.
Lenders and investors should see how your business has a place in the market, as well as its benefits to future customers.
Your business’s mission statement is the part of your company description that you want the public to see. And, you should include your vision statement, too.
Regularly update your company description as your business expands or changes.
Writing your company description
You need to know how to pitch to investors and lenders to captivate their interest. Your description should answer who, what, where, when, why, and how right off the bat.
So, do you know how to write a business description? We’ll walk you through the 5 W’s (and 1 H) to consider when drafting your first copy.
![description of venture in business plan example image listing everything to include in a company description: business name, target customers, products or services, business goals, business location, opening date, competitive advantages, mission statement, and structure](https://smallbusiness.patriotsoftware.com/wp-content/uploads/2020/07/company-description-1.png)
Who are you? Who is your business? Verify that the name of your business is clear in the business description section of your business plan. And, include your name (and the names of any other owners) because lenders and investors want to know the entrepreneur behind the business.
Who is your target customer? Who are you selling to? When describing your business, make sure you know who you appeal to. If you don’t know your target customer, there’s a chance that nobody will be interested in your business.
What is your product or service? If lenders and investors can’t understand what you’re selling or how it’s significant, they may pass on your concept. Be clear, narrow, and focused when telling lenders and investors about your business.
What are your goals for your business? Set realistic short-term and long-term goals. For example, if you plan on selling $20,000 worth of products by the end of the second month, include the goal in your description.
Where is your business located? If you are currently operating your business, list the address. Likewise, make sure you state where you want your business to be if you are still looking for office space.
When will you implement your business plan and see results? Include when you want to open your business (or when you opened it).
When do you plan on achieving your goals? Also, talk about the timeline for your main goals (both short-term and long-term).
When do you think you’ll leave your business? Don’t forget to discuss your exit strategy . Whether you plan on retiring in 20 years, selling your company in 15 years, or closing it down in 10 years, be clear about when you plan on parting ways.
Why would potential customers want to buy from you? Explain why you are different from the competition. This is where you can describe your business’s originality. Lenders and investors want to know why consumers would want to make a purchase at your small business instead of a competitor’s.
Why are you in business? Also make sure you include your business’s mission statement . A mission statement defines why you’re in business and what your goals are.
How are you going to structure your business? Which business structure will you form: sole proprietorship, LLC, partnership, or corporation? Explain your structure decision, too. Mention any small business advisor (e.g., business attorney) you work with to help with registration requirements, regulations, and liabilities.
How are you going to achieve the goals you set for your business? Are you going to hire employees to help you, or will you handle all responsibilities on your own? Talk about what steps you’ll take to reach the goals you outline.
How do you picture your company in the future? Include your business’s vision statement in your company description. A vision statement is an internal description that states what you want your business to look like in the future.
Business description example
Still unsure? Take a look at this business description example for more information:
Ann’s Office Hut delivers office supplies to small businesses in Boston, Massachusetts. The business is structured as a sole proprietorship, operating under entrepreneur Ann Smith. Ann’s Office Hut is located in Boston, Massachusetts and will begin operations in February. Ann’s Office Hut recognizes the busy lives of small business owners and wants to bring essential items like printers, cash registers, paper, ink, and envelopes to their doorsteps. Ann’s Office Hut will conveniently provide office supplies to small business owners who are short on time. Other office supply stores cannot match the convenience Ann’s Office Hut will give.
The business hopes to have gross sales of $30,000 by the end of one year and $95,000 by the end of five years. To achieve this goal, Ann’s Office Hut plans on offering referral credit.
Company description business plan: Final tips
Writing the business description portion of your business plan should be fun … even though it may feel more like a chore. But, this is your opportunity to talk about your business idea and get other people (i.e., lenders and investors) on board.
Here are a few final tips to keep in mind when learning how to write a company description:
- Answer the 5 W’s and 1 H
- Keep it short, simple, and easy to read
- Proofread, proofread, proofread
- Determine whether it’s interesting
This article has been updated from its original publication date of December 9, 2016.
This is not intended as legal advice; for more information, please click here.
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12 Key Elements of a Business Plan (Top Components Explained)
Starting and running a successful business requires proper planning and execution of effective business tactics and strategies .
You need to prepare many essential business documents when starting a business for maximum success; the business plan is one such document.
When creating a business, you want to achieve business objectives and financial goals like productivity, profitability, and business growth. You need an effective business plan to help you get to your desired business destination.
Even if you are already running a business, the proper understanding and review of the key elements of a business plan help you navigate potential crises and obstacles.
This article will teach you why the business document is at the core of any successful business and its key elements you can not avoid.
Let’s get started.
Why Are Business Plans Important?
Business plans are practical steps or guidelines that usually outline what companies need to do to reach their goals. They are essential documents for any business wanting to grow and thrive in a highly-competitive business environment .
1. Proves Your Business Viability
A business plan gives companies an idea of how viable they are and what actions they need to take to grow and reach their financial targets. With a well-written and clearly defined business plan, your business is better positioned to meet its goals.
2. Guides You Throughout the Business Cycle
A business plan is not just important at the start of a business. As a business owner, you must draw up a business plan to remain relevant throughout the business cycle .
During the starting phase of your business, a business plan helps bring your ideas into reality. A solid business plan can secure funding from lenders and investors.
After successfully setting up your business, the next phase is management. Your business plan still has a role to play in this phase, as it assists in communicating your business vision to employees and external partners.
Essentially, your business plan needs to be flexible enough to adapt to changes in the needs of your business.
3. Helps You Make Better Business Decisions
As a business owner, you are involved in an endless decision-making cycle. Your business plan helps you find answers to your most crucial business decisions.
A robust business plan helps you settle your major business components before you launch your product, such as your marketing and sales strategy and competitive advantage.
4. Eliminates Big Mistakes
Many small businesses fail within their first five years for several reasons: lack of financing, stiff competition, low market need, inadequate teams, and inefficient pricing strategy.
Creating an effective plan helps you eliminate these big mistakes that lead to businesses' decline. Every business plan element is crucial for helping you avoid potential mistakes before they happen.
5. Secures Financing and Attracts Top Talents
Having an effective plan increases your chances of securing business loans. One of the essential requirements many lenders ask for to grant your loan request is your business plan.
A business plan helps investors feel confident that your business can attract a significant return on investments ( ROI ).
You can attract and retain top-quality talents with a clear business plan. It inspires your employees and keeps them aligned to achieve your strategic business goals.
Key Elements of Business Plan
Starting and running a successful business requires well-laid actions and supporting documents that better position a company to achieve its business goals and maximize success.
A business plan is a written document with relevant information detailing business objectives and how it intends to achieve its goals.
With an effective business plan, investors, lenders, and potential partners understand your organizational structure and goals, usually around profitability, productivity, and growth.
Every successful business plan is made up of key components that help solidify the efficacy of the business plan in delivering on what it was created to do.
Here are some of the components of an effective business plan.
1. Executive Summary
One of the key elements of a business plan is the executive summary. Write the executive summary as part of the concluding topics in the business plan. Creating an executive summary with all the facts and information available is easier.
In the overall business plan document, the executive summary should be at the forefront of the business plan. It helps set the tone for readers on what to expect from the business plan.
A well-written executive summary includes all vital information about the organization's operations, making it easy for a reader to understand.
The key points that need to be acted upon are highlighted in the executive summary. They should be well spelled out to make decisions easy for the management team.
A good and compelling executive summary points out a company's mission statement and a brief description of its products and services.
![description of venture in business plan example Executive Summary of the Business Plan](https://www.founderjar.com/wp-content/uploads/2022/10/Executive-Summary-of-the-Business-Plan.jpeg)
An executive summary summarizes a business's expected value proposition to distinct customer segments. It highlights the other key elements to be discussed during the rest of the business plan.
Including your prior experiences as an entrepreneur is a good idea in drawing up an executive summary for your business. A brief but detailed explanation of why you decided to start the business in the first place is essential.
Adding your company's mission statement in your executive summary cannot be overemphasized. It creates a culture that defines how employees and all individuals associated with your company abide when carrying out its related processes and operations.
Your executive summary should be brief and detailed to catch readers' attention and encourage them to learn more about your company.
Components of an Executive Summary
Here are some of the information that makes up an executive summary:
- The name and location of your company
- Products and services offered by your company
- Mission and vision statements
- Success factors of your business plan
2. Business Description
Your business description needs to be exciting and captivating as it is the formal introduction a reader gets about your company.
What your company aims to provide, its products and services, goals and objectives, target audience , and potential customers it plans to serve need to be highlighted in your business description.
A company description helps point out notable qualities that make your company stand out from other businesses in the industry. It details its unique strengths and the competitive advantages that give it an edge to succeed over its direct and indirect competitors.
Spell out how your business aims to deliver on the particular needs and wants of identified customers in your company description, as well as the particular industry and target market of the particular focus of the company.
Include trends and significant competitors within your particular industry in your company description. Your business description should contain what sets your company apart from other businesses and provides it with the needed competitive advantage.
In essence, if there is any area in your business plan where you need to brag about your business, your company description provides that unique opportunity as readers look to get a high-level overview.
Components of a Business Description
Your business description needs to contain these categories of information.
- Business location
- The legal structure of your business
- Summary of your business’s short and long-term goals
3. Market Analysis
The market analysis section should be solely based on analytical research as it details trends particular to the market you want to penetrate.
Graphs, spreadsheets, and histograms are handy data and statistical tools you need to utilize in your market analysis. They make it easy to understand the relationship between your current ideas and the future goals you have for the business.
All details about the target customers you plan to sell products or services should be in the market analysis section. It helps readers with a helpful overview of the market.
In your market analysis, you provide the needed data and statistics about industry and market share, the identified strengths in your company description, and compare them against other businesses in the same industry.
The market analysis section aims to define your target audience and estimate how your product or service would fare with these identified audiences.
![description of venture in business plan example Components of Market Analysis](https://www.founderjar.com/wp-content/uploads/2022/10/Components-of-Market-Analysis.jpeg)
Market analysis helps visualize a target market by researching and identifying the primary target audience of your company and detailing steps and plans based on your audience location.
Obtaining this information through market research is essential as it helps shape how your business achieves its short-term and long-term goals.
Market Analysis Factors
Here are some of the factors to be included in your market analysis.
- The geographical location of your target market
- Needs of your target market and how your products and services can meet those needs
- Demographics of your target audience
Components of the Market Analysis Section
Here is some of the information to be included in your market analysis.
- Industry description and statistics
- Demographics and profile of target customers
- Marketing data for your products and services
- Detailed evaluation of your competitors
4. Marketing Plan
A marketing plan defines how your business aims to reach its target customers, generate sales leads, and, ultimately, make sales.
Promotion is at the center of any successful marketing plan. It is a series of steps to pitch a product or service to a larger audience to generate engagement. Note that the marketing strategy for a business should not be stagnant and must evolve depending on its outcome.
Include the budgetary requirement for successfully implementing your marketing plan in this section to make it easy for readers to measure your marketing plan's impact in terms of numbers.
The information to include in your marketing plan includes marketing and promotion strategies, pricing plans and strategies , and sales proposals. You need to include how you intend to get customers to return and make repeat purchases in your business plan.
![description of venture in business plan example Marketing Strategy vs Marketing Plan](https://www.founderjar.com/wp-content/uploads/2022/10/Marketing-Strategy-vs-Marketing-Plan.jpeg)
5. Sales Strategy
Sales strategy defines how you intend to get your product or service to your target customers and works hand in hand with your business marketing strategy.
Your sales strategy approach should not be complex. Break it down into simple and understandable steps to promote your product or service to target customers.
Apart from the steps to promote your product or service, define the budget you need to implement your sales strategies and the number of sales reps needed to help the business assist in direct sales.
Your sales strategy should be specific on what you need and how you intend to deliver on your sales targets, where numbers are reflected to make it easier for readers to understand and relate better.
![description of venture in business plan example Sales Strategy](https://www.founderjar.com/wp-content/uploads/2022/10/Sales-Strategy.jpeg)
6. Competitive Analysis
Providing transparent and honest information, even with direct and indirect competitors, defines a good business plan. Provide the reader with a clear picture of your rank against major competitors.
Identifying your competitors' weaknesses and strengths is useful in drawing up a market analysis. It is one information investors look out for when assessing business plans.
![description of venture in business plan example Competitive Analysis Framework](https://www.founderjar.com/wp-content/uploads/2022/10/Competitive-Analysis-Framework.jpeg)
The competitive analysis section clearly defines the notable differences between your company and your competitors as measured against their strengths and weaknesses.
This section should define the following:
- Your competitors' identified advantages in the market
- How do you plan to set up your company to challenge your competitors’ advantage and gain grounds from them?
- The standout qualities that distinguish you from other companies
- Potential bottlenecks you have identified that have plagued competitors in the same industry and how you intend to overcome these bottlenecks
In your business plan, you need to prove your industry knowledge to anyone who reads your business plan. The competitive analysis section is designed for that purpose.
7. Management and Organization
Management and organization are key components of a business plan. They define its structure and how it is positioned to run.
Whether you intend to run a sole proprietorship, general or limited partnership, or corporation, the legal structure of your business needs to be clearly defined in your business plan.
Use an organizational chart that illustrates the hierarchy of operations of your company and spells out separate departments and their roles and functions in this business plan section.
The management and organization section includes profiles of advisors, board of directors, and executive team members and their roles and responsibilities in guaranteeing the company's success.
Apparent factors that influence your company's corporate culture, such as human resources requirements and legal structure, should be well defined in the management and organization section.
Defining the business's chain of command if you are not a sole proprietor is necessary. It leaves room for little or no confusion about who is in charge or responsible during business operations.
This section provides relevant information on how the management team intends to help employees maximize their strengths and address their identified weaknesses to help all quarters improve for the business's success.
8. Products and Services
This business plan section describes what a company has to offer regarding products and services to the maximum benefit and satisfaction of its target market.
Boldly spell out pending patents or copyright products and intellectual property in this section alongside costs, expected sales revenue, research and development, and competitors' advantage as an overview.
At this stage of your business plan, the reader needs to know what your business plans to produce and sell and the benefits these products offer in meeting customers' needs.
The supply network of your business product, production costs, and how you intend to sell the products are crucial components of the products and services section.
Investors are always keen on this information to help them reach a balanced assessment of if investing in your business is risky or offer benefits to them.
You need to create a link in this section on how your products or services are designed to meet the market's needs and how you intend to keep those customers and carve out a market share for your company.
Repeat purchases are the backing that a successful business relies on and measure how much customers are into what your company is offering.
This section is more like an expansion of the executive summary section. You need to analyze each product or service under the business.
9. Operating Plan
An operations plan describes how you plan to carry out your business operations and processes.
The operating plan for your business should include:
- Information about how your company plans to carry out its operations.
- The base location from which your company intends to operate.
- The number of employees to be utilized and other information about your company's operations.
- Key business processes.
This section should highlight how your organization is set up to run. You can also introduce your company's management team in this section, alongside their skills, roles, and responsibilities in the company.
The best way to introduce the company team is by drawing up an organizational chart that effectively maps out an organization's rank and chain of command.
What should be spelled out to readers when they come across this business plan section is how the business plans to operate day-in and day-out successfully.
10. Financial Projections and Assumptions
Bringing your great business ideas into reality is why business plans are important. They help create a sustainable and viable business.
The financial section of your business plan offers significant value. A business uses a financial plan to solve all its financial concerns, which usually involves startup costs, labor expenses, financial projections, and funding and investor pitches.
All key assumptions about the business finances need to be listed alongside the business financial projection, and changes to be made on the assumptions side until it balances with the projection for the business.
The financial plan should also include how the business plans to generate income and the capital expenditure budgets that tend to eat into the budget to arrive at an accurate cash flow projection for the business.
Base your financial goals and expectations on extensive market research backed with relevant financial statements for the relevant period.
Examples of financial statements you can include in the financial projections and assumptions section of your business plan include:
- Projected income statements
- Cash flow statements
- Balance sheets
- Income statements
Revealing the financial goals and potentials of the business is what the financial projection and assumption section of your business plan is all about. It needs to be purely based on facts that can be measurable and attainable.
11. Request For Funding
The request for funding section focuses on the amount of money needed to set up your business and underlying plans for raising the money required. This section includes plans for utilizing the funds for your business's operational and manufacturing processes.
When seeking funding, a reasonable timeline is required alongside it. If the need arises for additional funding to complete other business-related projects, you are not left scampering and desperate for funds.
If you do not have the funds to start up your business, then you should devote a whole section of your business plan to explaining the amount of money you need and how you plan to utilize every penny of the funds. You need to explain it in detail for a future funding request.
When an investor picks up your business plan to analyze it, with all your plans for the funds well spelled out, they are motivated to invest as they have gotten a backing guarantee from your funding request section.
Include timelines and plans for how you intend to repay the loans received in your funding request section. This addition keeps investors assured that they could recoup their investment in the business.
12. Exhibits and Appendices
Exhibits and appendices comprise the final section of your business plan and contain all supporting documents for other sections of the business plan.
Some of the documents that comprise the exhibits and appendices section includes:
- Legal documents
- Licenses and permits
- Credit histories
- Customer lists
The choice of what additional document to include in your business plan to support your statements depends mainly on the intended audience of your business plan. Hence, it is better to play it safe and not leave anything out when drawing up the appendix and exhibit section.
Supporting documentation is particularly helpful when you need funding or support for your business. This section provides investors with a clearer understanding of the research that backs the claims made in your business plan.
There are key points to include in the appendix and exhibits section of your business plan.
- The management team and other stakeholders resume
- Marketing research
- Permits and relevant legal documents
- Financial documents
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Martin luenendonk.
Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.
This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.
18 of My Favorite Sample Business Plans & Examples For Your Inspiration
![description of venture in business plan example Clifford Chi](https://53.fs1.hubspotusercontent-na1.net/hub/53/hubfs/Screen%20Shot%202017-06-20%20at%2010.10.30%20AM.png?width=48&height=48&name=Screen%20Shot%202017-06-20%20at%2010.10.30%20AM.png)
Published: July 01, 2024
I believe that reading sample business plans is essential when writing your own.
![description of venture in business plan example sample business plans and examples](https://www.hubspot.com/hs-fs/hubfs/sample-business-plan_11-1.webp?width=595&height=400&name=sample-business-plan_11-1.webp)
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As you explore business plan examples from real companies and brands, it’s easier for you to learn how to write a good one.
So what does a good business plan look like? And how do you write one that’s both viable and convincing? I’ll walk you through the ideal business plan format along with some examples to help you get started.
Table of Contents
Business Plan Types
Business plan format, sample business plan: section by section, sample business plan templates, top business plan examples.
Ultimately, the format of your business plan will vary based on your goals for that plan. I’ve added this quick review of different business plan types that achieve differing goals.
For a more detailed exploration of business plan types, you can check out this post .
![description of venture in business plan example description of venture in business plan example](https://www.hubspot.com/hubfs/assets/hubspot.com/web-team/WBZ/HubSpot%20Media/Blog%202021/Images/modules/full-width-cta/Image%20Hackathon%20%E2%80%93%20Vertical%20(54).webp)
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1. Startups
Startup business plans are for proposing new business ideas. If you’re planning to start a small business, preparing a business plan is crucial. The plan should include all the major factors of your business.
You can check out this guide for more detailed business plan inspiration .
2. Feasibility Studies
Feasibility business plans focus on that business's product or service. Feasibility plans are sometimes added to startup business plans. They can also be a new business plan for an already thriving organization.
3. Internal Use
You can use internal business plans to share goals, strategies, or performance updates with stakeholders. In my opinion, internal business plans are useful for alignment and building support for ambitious goals.
4. Strategic Initiatives
A strategic business plan is another business plan that's often shared internally. This plan covers long-term business objectives that might not have been included in the startup business plan.
5. Business Acquisition or Repositioning
When a business is moving forward with an acquisition or repositioning, it may need extra structure and support. These types of business plans expand on a company's acquisition or repositioning strategy.
Growth sometimes just happens as a business continues operations. But more often, a business needs to create a structure with specific targets to meet set goals for expansion. This business plan type can help a business focus on short-term growth goals and align resources with those goals.
I’m going to focus on a startup business plan that needs to be detailed and research-backed as well as compelling enough to convince investors to offer funding. In my experience, the most comprehensive and convincing business plans contain the following sections.
Executive Summary
This all-important introduction to your business plan sets the tone and includes the company description as well as what you will be exchanging for money — whether that’s product lines, services, or product-service hybrids.
Market Opportunity
Information about gaps in your industry’s market and how you plan to fill them, focused on demand and potential for growth.
Competitive Landscape Analysis
An overview of your competitors that includes consideration of their strengths and how you’ll manage them, their weaknesses and how you’ll capitalize on them, and how you can differentiate your offerings in the industry.
Target Audience
Descriptions of your ideal customers, their various problems that you can solve, and your customer acquisition strategy.
Marketing Strategy
This section details how you will market your brand to achieve specific goals, the channels and tactics you’ll utilize to reach those goals, and the metrics you’ll be using to measure your progress.
Key Features and Benefits
This is where you’ll use plain language to emphasize the value of your product/service, how it solves the problems of your target audiences, and how you’ll scale up over time.
Pricing and Revenue
This section describes your pricing strategy and plans for building revenue streams that fit your audiences while achieving your business goals.
This is the final section, communicating with investors that your business idea is worth investing in via profit/loss statements, cash flow statements, and balance sheets to prove viability.
Okay, so now that we have a format established, I’ll give you more specific details about each section along with examples. Truthfully, I wish I’d had this resource to help me flesh out those first business plans long ago.
1. Executive Summary
I’d say the executive summary is the most important section of the entire business plan. It is essentially an overview of and introduction to your entire project.
Write this in such a way that it grabs your readers' attention and guides them through the rest of the business plan. This is important because a business plan can be dozens or hundreds of pages long.
There are two main elements I’d recommend including in your executive summary: your company description and your products and services.
Company Description
This is the perfect space to highlight your company’s mission statement and goals, a brief overview of your history and leadership, and your top accomplishments as a business.
Tell potential investors who you are and why what you do matters. Naturally, they’re going to want to know who they’re getting into business with up front. This is a great opportunity to showcase your impact.
Need some extra help firming up your business goals? I’d recommend HubSpot Academy’s free course to help you set meaningful goals that matter most for your business.
Products and Services
Here, you will incorporate an overview of your offerings. This doesn’t have to be extensive, as it is just a chance to introduce your industry and overall purpose as a business. I recommend including snippets of information about your financial projections and competitive advantage here as well.
Keep in mind that you'll cover many of these topics in more detail later on in the business plan. The executive summary should be clear and brief, only including the most important takeaways.
Executive Summary Business Plan Examples
This example was created with HubSpot’s business plan template . What makes this executive summary good is that it tells potential investors a short story while still covering all of the most important details.
Our Mission
Maria’s Gluten Free Bagels offers gluten-free bagels, along with various toppings, other gluten-free breakfast sandwich items, and coffee. The facility is entirely gluten free. Our team expects to catch the interest of gluten-free, celiac, or health-conscious community members who are seeking an enjoyable cafe to socialize. Due to a lack of gluten-free bagel products in the food industry currently, we expect mild competition and are confident we will be able to build a strong market position.
The Company and Management
Maria’s Gluten Free Bagels was founded in 2010 by Maria Jones, who first began selling her gluten-free bagels online from her home, using social media to spread the word. In 2012 she bought a retail location in Hamilton, MA, which now employs four full-time employees and six part-time employees. Prior to her bagel shop, Maria was a chef in New York and has extensive experience in the food industry.
Along with Maria Jones, Gluten Free Bagel Shop has a board of advisors. The advisors are:
- Jeni King, partner at Winding Communications, Ltd.
- Henry Wilson, president of Blue Robin, LLP.
Our Product
We offer gluten-free products ranging from bagels and cream cheese to blueberry muffins, coffee, and pastries. Our customers are health-conscious, community-oriented people who enjoy gluten-free products. We will create a welcoming, warm environment with opportunities for open mic nights, poetry readings, and other community functions. We will focus on creating an environment in which someone feels comfortable meeting a friend for lunch, or working remotely.
Our Competitive Advantages
While there are other coffee shops and cafes in the North Shore region, there are none that offer purely gluten-free options. This restricts those suffering from gluten-free illnesses or simply those with a gluten-free preference. This will be our primary selling point. Additionally, our market research [see Section 3] has shown a demand for a community-oriented coffee and bagel shop in the town of Hamilton, MA.
Financial Considerations
Our sales projections for the first year are $400,000. We project a 15% growth rate over the next two years. By year three, we project 61% gross margins.
We will have four full-time employees. The salary for each employee will be $50,000.
Start-up Financing Requirements
We are seeking to raise $125,000 in startup to finance year one. The owner has invested $50,000 to meet working capital requirements, and will use a loan of $100,000 to supplement the rest.
Example 2 :
Marianne and Keith Bean have been involved with the food industry for several years. They opened their first restaurant in Antlers, Oklahoma in 1981, and their second in Hugo in 1988. Although praised for the quality of many of the items on their menu, they have attained a special notoriety for their desserts. After years of requests for their flavored whipped cream toppings, they have decided to pursue marketing these products separately from the restaurants.
Marianne and Keith Bean have developed several recipes for flavored whipped cream topping. They include chocolate, raspberry, cinnamon almond, and strawberry. These flavored dessert toppings have been used in the setting of their two restaurants over the past 18 years, and have been produced in large quantities. The estimated shelf life of the product is 21 days at refrigeration temperatures and up to six months when frozen. The Beans intend to market this product in its frozen state in 8 and 12-ounce plastic tubs. They also intend to have the products available in six ounce pressurized cans. Special attention has been given to developing an attractive label that will stress the gourmet/specialty nature of the products.
Distribution of Fancy's Foods Whipped Dream product will begin in the local southeastern Oklahoma area. The Beans have an established name and reputation in this area, and product introduction should encounter little resistance.
Financial analyses show that the company will have both a positive cash flow and profit in the first year. The expected return on equity in the first year is 10.88%
Tips for Writing Your Executive Summary
- Start with a strong introduction of your company that showcases your mission and impact, then outline the products and services you provide.
- Clearly define a problem, explain how your product solves that problem, and show why the market needs your business.
- Be sure to highlight your value proposition, market opportunity, and growth potential.
- Keep it concise and support ideas with data.
- Customize your summary to your audience. For example, you might emphasize finances and return on investment for venture capitalists, whereas you might emphasize community benefits and minimal environmental impact for progressive nonprofits.
For more guidance, check out our tips for writing an effective executive summary .
2. Market Opportunity
This is where you'll detail the opportunity in the market. Ask and answer: Where is the gap in the current industry, and how will my product fill that gap?
To get a thorough understanding of the market opportunity, you'll want to conduct a TAM, SAM, SOM analysis , a SWOT analysis , and perform market research on your industry to get some insights for this section. More specifically, here’s what I’d include.
- The size of the market
- Current or potential market share
- Trends in the industry and consumer behavior
- Where the gap is
- What caused the gap
- How you intend to fill it
Market Opportunity Business Plan Example
I like this example because it uses critical data to underline the size of the potential market and what part of that market this service hopes to capture.
Example: The market for Doggie Pause is all of the dog owners in the metropolitan area and surrounding areas of the city. We believe that this is going to be 2/3 of the population, and we have a goal of gaining a 50% market share. We have a target of a 20% yearly profit increase as the business continues.
Tips for Writing Your Market Opportunity Section
- Focus on demand and potential for growth.
- Use market research, surveys, and industry trend data to support your market forecast and projections.
- Add a review of regulation shifts, tech advances, and consumer behavior changes.
- Refer to reliable sources.
- Showcase how your business can make the most of this opportunity.
3. Competitive Landscape Analysis
Since we’re already speaking of market share, you‘ll also need to create a section that shares details on who the top competitors are. After all, your customers likely have more than one brand to choose from, and you’ll want to understand exactly why they might choose one over another.
My favorite part of performing a competitive analysis is that it can help you uncover the following:
- Industry trends that other brands may not be utilizing.
- Strengths in your competition that may be obstacles to handle.
- Weaknesses in your competition that may help you develop selling points.
- The unique proposition you bring to the market that may resonate with customers.
Competitive Landscape Business Plan Example
I like how the competitive landscape section of this business plan shows a clear outline of who the top competitors are. It also highlights specific industry knowledge and the importance of location. This demonstrates useful experience in the industry, helping to build trust in your ability to execute your business plan.
Competitive Environment
Currently, there are four primary competitors in the Greater Omaha Area: Pinot’s Palette Lakeside (franchise partner), Village Canvas and Cabernet, The Corky Canvas, and Twisted Vine Collective. The first three competitors are in Omaha and the fourth is located in Papillion.
Despite the competition, all locations have both public and private events. Each location has a few sold-out painting events each month. The Omaha locations are in new, popular retail locations, while the existing Papillion location is in a downtown business district.
There is an opportunity to take advantage of the environment and open a studio in a well-traveled or growing area. Pinot’s Palette La Vista will differentiate itself from its competitors by offering a premium experience in a high-growth, influential location.
Tips for Writing Your Competitive Landscape
- Complete in-depth research, then emphasize your most important findings.
- Compare your unique selling proposition (USP) to your direct and indirect competitors.
- Show a clear and realistic plan for product and brand differentiation.
- Look for specific advantages and barriers in the competitive landscape. Then, highlight how that information could impact your business.
- Outline growth opportunities from a competitive perspective.
- Add customer feedback and insights to support your competitive analysis.
4. Target Audience
Use this section to describe who your customer segments are in detail. What is the demographic and psychographic information of your audience? I’d recommend building a buyer persona to get in the mindset of your ideal customers and be clear about why you're targeting them. Here are some questions I’d ask myself:
- What demographics will most likely need/buy your product or service?
- What are the psychographics of this audience? (Desires, triggering events, etc.)
- Why are your offerings valuable to them?
Target Audience Business Plan Example
I like the example below because it uses in-depth research to draw conclusions about audience priorities. It also analyzes how to create the right content for this audience.
The Audience
Recognize that audiences are often already aware of important issues. Outreach materials should:
- Emphasize a pollution-prevention practice
- Tell audience a little about how to prevent pollution
- Tell audience where they can obtain information about prevention.
Message Content
- Focus the content for outreach materials on cost savings, such as when and where pollution prevention is as cheap as or cheaper than traditional techniques. Include facts and figures.
- Emphasize how easy it is to do the right thing and the impacts of not engaging in pollution prevention.
- Stress benefits such as efficiency or better relations with government, for businesses not primarily concerned with public image.
Tips for Writing Your Target Audience Section
- Include details on the size and growth potential of your target audience.
- Figure out and refine the pain points for your target audience , then show why your product is a useful solution.
- Describe your targeted customer acquisition strategy in detail.
- Share anticipated challenges your business may face in acquiring customers and how you plan to address them.
- Add case studies, testimonials, and other data to support your target audience ideas.
- Remember to consider niche audiences and segments of your target audience in your business plan.
5. Marketing Strategy
Here, you‘ll discuss how you’ll acquire new customers with your marketing strategy. I think it’s helpful to have a marketing plan built out in advance to make this part of your business plan easier. I’d suggest including these details:
- Your brand positioning vision and how you'll cultivate it.
- The goal targets you aim to achieve.
- The metrics you'll use to measure success.
- The channels and distribution tactics you'll use.
Marketing Strategy Business Plan Example
This business plan example includes the marketing strategy for the town of Gawler. In my opinion, it works because it offers a comprehensive picture of how they plan to use digital marketing to promote the community.
![description of venture in business plan example Screenshot of sample marketing plan](https://knowledge.hubspot.com/hubfs/sample-business-plan-1-20240628-7175828.webp)
You’ll also learn the financial benefits investors can reap from putting money into your venture rather than trying to sell them on how great your product or service is.
This business plan guide focuses less on the individual parts of a business plan, and more on the overarching goal of writing one. For that reason, it’s one of my favorites to supplement any template you choose to use. Harvard Business Review’s guide is instrumental for both new and seasoned business owners.
7. HubSpot’s Complete Guide to Starting a Business
![description of venture in business plan example Screenshot of business startup kit download page from hubspot](https://knowledge.hubspot.com/hubfs/sample-business-plan-7-20240628-9740856.webp)
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How To Write A Business Plan (2024 Guide)
![description of venture in business plan example Julia Rittenberg](https://thumbor.forbes.com/thumbor/fit-in/x/https://www.forbes.com/advisor/wp-content/uploads/2021/05/juliaheadshot_2020-016-88x88.jpeg)
Updated: Apr 17, 2024, 11:59am
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Table of Contents
Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.
Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.
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Drafting the Summary
An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.
Ask for Help
When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.
After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business.
The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.
Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.
Numbers-based Goals
Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.
Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.
Intangible Goals
Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.
The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.
If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.
This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.
You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.
Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.
Business Operations Costs
Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.
Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.
Other Costs
Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.
Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.
How do I write a simple business plan?
When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.
What are some common mistakes in a business plan?
The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.
What basic items should be included in a business plan?
When writing out a business plan, you want to make sure that you cover everything related to your concept for the business, an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.
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Venture Capital Business Plan: A Guide for Entrepreneurs
Published Aug.01, 2023
Updated Apr.24, 2024
By: Alex Silensky
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Table of Content
Are you looking for VC funding or funding from other potential investors? You need a good business idea – and an excellent business plan. Business planning and raising capital go hand-in-hand. An investor business plan is required to attract a venture capital firm. And the desire to raise capital (whether from an individual “angel” investor or a venture capitalist) is often the key motivator in business planning.
What is a venture capitalist?
A venture capitalist, often referred to as a VC, strategically allocates financial capital to early-stage, high-potential startup companies to foster exponential growth and catalyze groundbreaking innovation. By leveraging their investments, venture capitalists secure partial ownership and wield a profound influence over critical strategic decisions and operational facets. Furthermore, they impart invaluable guidance and mentorship and harness their extensive network of influential contacts and abundant resources.
Venture capitalists aim to attain considerable returns on their investments through the strategic divestment of their ownership stake in the company at a subsequent stage, commonly facilitated through an IPO or a trade sale, encompassing mergers or acquisitions. Given the inherent risks associated with their investment endeavors, venture capitalists adopt an exceptionally discerning approach, meticulously selecting a mere fraction of the myriad companies that seek their sought-after financial backing.
Their active pursuit centers around identifying enterprises that epitomize disruptive technologies or trailblazing business models, thrive within expansive and rapidly evolving markets, exhibit a significant competitive edge, and are steered by an adept and fervent management team. These are the essential elements of a compelling Business Plan for Investors that can attract the attention and support of venture capitalists.
What is a Venture Capital Firm?
Venture capital firms (VCs) are money companies that put money in and help new and scalable startups. VCs get funds from different investors and then give them to startups they think can change or make new markets. VCs use a team of experts who check the chance of new companies. These experts have different backgrounds and skills in different businesses, and they use their ideas to help VCs pick companies that are likely to do well.
Besides giving money, VCs also give their companies other benefits, such as advice and access to their network of people, which can be very important to early-stage companies.
Types of Venture Capital Investments
Venture capital investments can be classified into different types based on the company’s development stage. The main types are:
1. Seed Capital
Seed capital is the earliest funding given to an innovator or group with a vision for a novel product or service but has yet to transform it into a feasible business. Seed capital is typically used for market exploration, product creation, prototype evaluation, customer verification, etc. Seed capital is very precarious because there is no assurance that the vision will work or that there will be a market appetite for it. However, seed capital can also generate very high rewards if the vision becomes successful and attracts more funding.
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2. Startup Capital
Startup capital is the funding given to a company that has created its product or service and has introduced it in the market but has yet to generate substantial revenue or profit. Startup capital is typically used for promotion, sales, distribution, customer acquisition, etc. Startup capital is less precarious than seed capital because there is some indication of product-market fit and traction. However, startup capital can also be challenging to obtain because there is still uncertainty about the scalability and sustainability of the business model.
3. Early Stage Capital
Early-stage capital is the funding granted to a company that has validated its product or service in the market and has begun generating revenue and profit but has yet to attain its full potential. Early-stage capital is typically used to diversify the product or service portfolio, penetrate new segments, recruit more talent, optimize operations, etc. Early-stage capital is less precarious than startup capital because there is more evidence and traction of the business. However, early-stage capital can also be challenging and demanding because there are more expectations and pressure from the investors.
4. Expansion Capital
Expansion capital is the funding given to a company that has attained a significant market presence, revenue, and profit growth and is ready to scale up its business to the next level. Expansion capital is usually used to acquire other entities, develop new products or services, open new outlets, increase production capability, etc. Expansion capital is less perilous than early-stage capital because the business has more stability and predictability. However, expansion capital can also be costly and dilutive because more investors are engaged, and more equity is surrendered.
5. Late Stage Capital
Late-stage capital is the funding bestowed to a company that has reached a mature stage of development and growth and is preparing for an exit event such as an IPO or a trade sale. Late-stage capital is usually used to enhance the company’s valuation, reputation, and visibility, improve financial performance, strengthen governance, etc. Late-stage capital is less perilous than expansion capital because there is more certainty and credibility in the business. However, late-stage capital can also be complex and restrictive because more regulations and obligations are involved. However, a SBA Business Plan can help late-stage companies comply with the requirements and expectations of investors.
6. Bridge Financing
Bridge financing is the interim funding granted to a company that requires short-term capital to fill an urgent need or gap until it obtains a lasting or stable source of financing. Bridge financing is typically utilized for satisfying payroll, settling bills, accomplishing a project, etc. Bridge financing is perilous because there is no assurance that the firm can secure lasting or stable financing. However, bridge financing can also be beneficial and adaptable because it can offer swift and effortless access to cash.
The following table compares the different types of venture capital investments based on their stage, amount, risk, return, and purpose:
Seed Capital | Idea | Very High | Very High | Validate Idea | ||
Startup Capital | Launch | High | High | Validate Market | ||
Early Stage Capital | Growth | Medium | Medium | Validate Business | ||
Expansion Capital | Scale | Low | Low | Validate Potential | ||
Late Stage Capital | Exit | Very Low | Very Low | Validate Valuation | ||
Bridge Financing | Gap | Very High | Very High | Validate Survival |
Venture Capital and VC Funding Methods
Venture capital is a source of funding for entrepreneurs who need money to grow their businesses. VC funding methods are the terms and conditions venture capitalists agree on when investing in the companies they support. Different methods of making a venture capital deal exist based on the people involved, worth, chance, and choices. The main methods are:
1. Common stock
This is the most straightforward form of VC funding method. It involves issuing shares of common stock to investors in exchange for capital. A common stock gives the investors voting rights and dividends (if any) in proportion to their ownership stake. Common stock is usually preferred by early-stage companies with low valuation and high risk.
2. Preferred stock
This is a more complex and sophisticated form of VC funding method. It involves issuing shares of preferred stock to investors in exchange for capital. Preferred stock gives the investors preference over common stockholders regarding dividends, liquidation, and conversion rights. Preferred stock is usually preferred by later-stage companies that have higher valuations and lower risk.
3. Convertible debt
This is a mixed form of VC funding method. It means giving the investors a debt instrument that can be converted into shares later or when some conditions are satisfied. Convertible debt pays the investors interest and money back until it gets converted. Early companies with unclear worth and a high chance of failure often choose convertible debt.
4. SAFE (Simple Agreement for Future Equity)
This is a newer and simpler form of VC funding method. It means making a deal with the investors that lets them get shares in the future at a fixed worth or lower price. SAFE only involves issuing shares or debt instruments to the investors once a future financing event occurs. SAFE is usually preferred by seed-stage companies that have uncertain valuations and high risk.
Main Sections of a Venture Capital Business Plan
A venture business plan is a document describing your business idea, market opportunity, competitive advantage, financial projections, and funding needs. It is a tool that helps you communicate your vision and strategy to potential investors and partners. A venture business plan sample should include the following sections:
1. Executive Summary
The executive summary is pivotal in your venture business plan, serving as the primary section that demands attention. It aims to present a concise yet comprehensive overview of your business idea, target market, unique value proposition, traction and milestones, financial summary, and funding request. It is vital to draft the executive summary clearly and compellingly that captivates readers and incites their curiosity to explore your venture further.
2. Company Analysis
The company analysis section delves deeper into your company’s narrative, providing a detailed account of its history, mission, vision, values, goals, objectives, team, culture, and legal structure. This section highlights your company’s noteworthy achievements and inherent strengths while addressing the potential challenges and risks it faces. Moreover, it presents a compelling case for the qualifications and capabilities of your team, demonstrating their aptitude in executing the business plan.
3. Industry Analysis
The industry analysis section demonstrates your understanding of the market you operate in or plan to enter. It should provide relevant information about your industry’s size, growth, trends, drivers, challenges, opportunities, and outlook. It should also identify and analyze your industry’s key segments and sub-segments.
4. Customer Analysis
The customer analysis section is important as it outlines and describes your target market and various customer segments. It should encompass a detailed profile of your ideal customers, covering their demographics, psychographics, behaviors, needs, pains, desires, preferences, and purchasing patterns. Furthermore, this section should include an estimation of your product or service’s total addressable market (TAM), serviceable available market (SAM), and serviceable obtainable market (SOM).
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5. Competitive Analysis
The competitive analysis section is crucial in identifying and evaluating direct and indirect competitors. It thoroughly assesses their strengths, weaknesses, strategies, products, services, prices, features, benefits, market share, customer satisfaction, and distinctive factors. Additionally, this section explains your market positioning strategy, emphasizing your competitive advantages and unique selling points.
6. Marketing Plan
The marketing plan section outlines your marketing strategy and tactics for reaching and attracting your target customers and generating sales and revenue. It should cover the following elements:
- Product and service
- Distribution
- Marketing process
- Marketing Physical Evidence
7. Operations Plan
The operations plan section describes how you will run and manage your business daily. It should cover the following aspects:
- Human Resources
- Legal issues and requirements
8. Financial Plan
The financial plan section provides a detailed projection of your financial performance and position for three to five years. It should include the following components:
- Income Statement
- Cash Flow Statement
- Balance Sheet
- Break-Even Analysis
- Funding Request
- Funding Sources
- Exit Strategy
OGSCapital for Your Venture Capital Business Plan
Are you looking for an answer to: How to write a venture capital business plan? Our business plan experts at OGSCapital can help. We have a team of professional business plan writers with over 15 years of experience offering business plan writing services. We have helped over 5,000 clients attract more than $2.7 billion in financing. Here are some of the reasons why you should choose OGSCapital for your venture capital business plan:
OGSCapital can provide you with the following benefits:
- A customized and high-quality business plan
- Comprehensive and in-depth market research and analysis
- A realistic and accurate financial model and projections
- A persuasive and compelling executive summary
- A professional and attractive design and layout of your business plan
- Fast and reliable delivery within 10 to 15 days
- A revision after receiving the first draft of your business plan
If you’re also confused about how to write a business plan for venture capital that stands out from the crowd and increases your chances of getting funded, contact our experts at OGSCapital today.
Frequently Asked Questions
1. What do venture capitalists look for in a business plan?
A business plan to raise venture capital should demonstrate a great business idea, a talented and experienced team, a unique and valuable product or service, a market validation, a huge and expanding market, and a good deal and exit strategy. Plus, it should be clear, concise, well-researched and realistic.
2. What is the golden rule for venture capitalists?
For venture capitalists, people matter more than ideas. They look for entrepreneurs and managers with passion, dedication, flexibility, and willingness to learn from feedback. Venture capitalists believe these are the essential qualities that make or break a venture.
Download Venture Capital Business Plan Sample in PDF
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.
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The 7 Best Business Plan Examples (2024)
As an aspiring entrepreneur gearing up to start your own business , you likely know the importance of drafting a business plan. However, you might not be entirely sure where to begin or what specific details to include. That’s where examining business plan examples can be beneficial. Sample business plans serve as real-world templates to help you craft your own plan with confidence. They also provide insight into the key sections that make up a business plan, as well as demonstrate how to structure and present your ideas effectively.
Example business plan
To understand how to write a business plan, let’s study an example structured using a seven-part template. Here’s a quick overview of those parts:
- Executive summary: A quick overview of your business and the contents of your business plan.
- Company description: More info about your company, its goals and mission, and why you started it in the first place.
- Market analysis: Research about the market and industry your business will operate in, including a competitive analysis about the companies you’ll be up against.
- Products and services: A detailed description of what you’ll be selling to your customers.
- Marketing plan: A strategic outline of how you plan to market and promote your business before, during, and after your company launches into the market.
- Logistics and operations plan: An explanation of the systems, processes, and tools that are needed to run your business in the background.
- Financial plan: A map of your short-term (and even long-term) financial goals and the costs to run the business. If you’re looking for funding, this is the place to discuss your request and needs.
7 business plan examples (section by section)
In this section, you’ll find hypothetical and real-world examples of each aspect of a business plan to show you how the whole thing comes together.
- Executive summary
Your executive summary offers a high-level overview of the rest of your business plan. You’ll want to include a brief description of your company, market research, competitor analysis, and financial information.
In this free business plan template, the executive summary is three paragraphs and occupies nearly half the page:
- Company description
You might go more in-depth with your company description and include the following sections:
- Nature of the business. Mention the general category of business you fall under. Are you a manufacturer, wholesaler, or retailer of your products?
- Background information. Talk about your past experiences and skills, and how you’ve combined them to fill in the market.
- Business structure. This section outlines how you registered your company —as a corporation, sole proprietorship, LLC, or other business type.
- Industry. Which business sector do you operate in? The answer might be technology, merchandising, or another industry.
- Team. Whether you’re the sole full-time employee of your business or you have contractors to support your daily workflow, this is your chance to put them under the spotlight.
You can also repurpose your company description elsewhere, like on your About page, Instagram page, or other properties that ask for a boilerplate description of your business. Hair extensions brand Luxy Hair has a blurb on it’s About page that could easily be repurposed as a company description for its business plan.
![description of venture in business plan example company description business plan](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1647062331-luxy-hair.jpg)
- Market analysis
Market analysis comprises research on product supply and demand, your target market, the competitive landscape, and industry trends. You might do a SWOT analysis to learn where you stand and identify market gaps that you could exploit to establish your footing. Here’s an example of a SWOT analysis for a hypothetical ecommerce business:
![description of venture in business plan example marketing swot example](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1647062216-swot1.png)
You’ll also want to run a competitive analysis as part of the market analysis component of your business plan. This will show you who you’re up against and give you ideas on how to gain an edge over the competition.
- Products and services
This part of your business plan describes your product or service, how it will be priced, and the ways it will compete against similar offerings in the market. Don’t go into too much detail here—a few lines are enough to introduce your item to the reader.
- Marketing plan
Potential investors will want to know how you’ll get the word out about your business. So it’s essential to build a marketing plan that highlights the promotion and customer acquisition strategies you’re planning to adopt.
Most marketing plans focus on the four Ps: product, price, place, and promotion. However, it’s easier when you break it down by the different marketing channels . Mention how you intend to promote your business using blogs, email, social media, and word-of-mouth marketing.
Here’s an example of a hypothetical marketing plan for a real estate website:
![description of venture in business plan example marketing section template for business plan](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1647062057-marketing.jpg)
Logistics and operations
This section of your business plan provides information about your production, facilities, equipment, shipping and fulfillment, and inventory.
Financial plan
The financial plan (a.k.a. financial statement) offers a breakdown of your sales, revenue, expenses, profit, and other financial metrics. You’ll want to include all the numbers and concrete data to project your current and projected financial state.
In this business plan example, the financial statement for ecommerce brand Nature’s Candy includes forecasted revenue, expenses, and net profit in graphs.
![description of venture in business plan example financial plan example](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1647061984-nature.jpg)
It then goes deeper into the financials, citing:
- Funding needs
- Project cash-flow statement
- Project profit-and-loss statement
- Projected balance sheet
You can use Shopify’s financial plan template to create your own income statement, cash-flow statement, and balance sheet.
Types of business plans (and what to write for each)
A one-page business plan is a pared down version of a standard business plan that’s easy for potential investors and partners to understand. You’ll want to include all of these sections, but make sure they’re abbreviated and summarized:
- Logistics and operations plan
- Financials
A startup business plan is meant to secure outside funding for a new business. Typically, there’s a big focus on the financials, as well as other sections that help determine the viability of your business idea—market analysis, for example. Shopify has a great business plan template for startups that include all the below points:
- Market research: in depth
- Financials: in depth
Your internal business plan acts as the enforcer of your company’s vision. It reminds your team of the long-term objective and keeps them strategically aligned toward the same goal. Be sure to include:
- Market research
Feasibility
A feasibility business plan is essentially a feasibility study that helps you evaluate whether your product or idea is worthy of a full business plan. Include the following sections:
A strategic (or growth) business plan lays out your long-term vision and goals. This means your predictions stretch further into the future, and you aim for greater growth and revenue. While crafting this document, you use all the parts of a usual business plan but add more to each one:
- Products and services: for launch and expansion
- Market analysis: detailed analysis
- Marketing plan: detailed strategy
- Logistics and operations plan: detailed plan
- Financials: detailed projections
Free business plan templates
Now that you’re familiar with what’s included and how to format a business plan, let’s go over a few templates you can fill out or draw inspiration from.
Bplans’ free business plan template
![description of venture in business plan example description of venture in business plan example](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1710282950-screenshot-2024-03-13-at-3-35-16-am.png)
Bplans’ free business plan template focuses a lot on the financial side of running a business. It has many pages just for your financial plan and statements. Once you fill it out, you’ll see exactly where your business stands financially and what you need to do to keep it on track or make it better.
PandaDoc’s free business plan template
![description of venture in business plan example description of venture in business plan example](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1710283193-screenshot-2024-03-13-at-3-39-35-am.png)
PandaDoc’s free business plan template is detailed and guides you through every section, so you don’t have to figure everything out on your own. Filling it out, you’ll grasp the ins and outs of your business and how each part fits together. It’s also handy because it connects to PandaDoc’s e-signature for easy signing, ideal for businesses with partners or a board.
Miro’s Business Model Canvas Template
![description of venture in business plan example Miro](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1710282936-screenshot-2024-03-13-at-3-30-01-am.png)
Miro’s Business Model Canvas Template helps you map out the essentials of your business, like partnerships, core activities, and what makes you different. It’s a collaborative tool for you and your team to learn how everything in your business is linked.
Better business planning equals better business outcomes
Building a business plan is key to establishing a clear direction and strategy for your venture. With a solid plan in hand, you’ll know what steps to take for achieving each of your business goals. Kickstart your business planning and set yourself up for success with a defined roadmap—utilizing the sample business plans above to inform your approach.
Business plan FAQ
What are the 3 main points of a business plan.
- Concept. Explain what your business does and the main idea behind it. This is where you tell people what you plan to achieve with your business.
- Contents. Explain what you’re selling or offering. Point out who you’re selling to and who else is selling something similar. This part concerns your products or services, who will buy them, and who you’re up against.
- Cash flow. Explain how money will move in and out of your business. Discuss the money you need to start and keep the business going, the costs of running your business, and how much money you expect to make.
How do I write a simple business plan?
To create a simple business plan, start with an executive summary that details your business vision and objectives. Follow this with a concise description of your company’s structure, your market analysis, and information about your products or services. Conclude your plan with financial projections that outline your expected revenue, expenses, and profitability.
What is the best format to write a business plan?
The optimal format for a business plan arranges your plan in a clear and structured way, helping potential investors get a quick grasp of what your business is about and what you aim to achieve. Always start with a summary of your plan and finish with the financial details or any extra information at the end.
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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.
![description of venture in business plan example business plan examples](https://cdn.shopify.com/s/files/1/0070/7032/files/business_20plan_20examples.jpg?v=1685397795)
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:
![description of venture in business plan example A four-paragraph long executive summary for a business.](https://cdn.shopify.com/s/files/1/0070/7032/files/executive_summary_2b780640-bba6-4fa9-979f-f4b7a7baec6d.png?v=1685052930)
- 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.
![description of venture in business plan example A company description from the website of soap brand Orris](https://cdn.shopify.com/s/files/1/0070/7032/files/orris.png?v=1685053110)
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.
![description of venture in business plan example A mission statement example on the website of apparel brand Passionfruit, alongside a picture of woman](https://cdn.shopify.com/s/files/1/0070/7032/files/mission_statement.png?v=1685053205)
- 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:
![description of venture in business plan example A SWOT analysis table showing strengths, weaknesses, opportunities and threats](https://cdn.shopify.com/s/files/1/0070/7032/files/swot-example.png?v=1685053230)
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:
![description of venture in business plan example An example products and services section from a business plan](https://cdn.shopify.com/s/files/1/0070/7032/files/products_0d941ab8-5039-424b-8f0e-abd0716b9918.png?v=1685053278)
- 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.
![description of venture in business plan example A sample bar chart showing business expenses by month](https://cdn.shopify.com/s/files/1/0070/7032/files/financial-metrics_example.png?v=1685053351)
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.
![description of venture in business plan example A sample financial plan spreadsheet](https://cdn.shopify.com/s/files/1/0070/7032/files/financial-plan-spreadsheet.png?v=1685053380)
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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Blog Business 15+ Best Business Plan Examples for Entrepreneurs & Startups
15+ Best Business Plan Examples for Entrepreneurs & Startups
Written by: Jennifer Gaskin Jun 09, 2021
![description of venture in business plan example 15+ Business Plan Examples to Win Your Next Round of Funding Blog Header](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/15-Business-Plan-Examples-to-Win-Your-Next-Round-of-Funding-Blog-Header-1.png)
Not having a solid plan makes it unlikely for you to achieve the goals you seek, whether it’s getting your to-do list done or launching a successful organization.
In the early stages of a company, that means developing things like pitch decks, business plans, one-sheeters and more. With Venngage’s Business Plan Builder , you can easily organize your business plan into a visually appealing format that can help you win over investors, lenders or partners.
Learn more about how to create a business plan so you can hit the ground running after reading through this list for inspirational business plan templates .
15+ Best business plan examples for entrepreneurs and startups
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While your business plan should be supported by thorough and exhaustive research into your market and competitors, the resulting document does not have to be overwhelming for the reader. In fact, if you can boil your business plan down to a few key pages, all the better.
Simple business plan outline:
- Table of contents : List all sections and sub-sections within the business plan.
- Business review : Include an overview of the business’s purpose, history, and key objectives.
- The market : Analyze the target market, including customer demographics and market needs.
- The competition : Evaluate the main competitors and their strengths and weaknesses in the market.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Green-Simple-Business-Plan-Template.png)
The simple, bold visual aesthetic of this business plan template pairs well with the straightforward approach to the content and various elements of the business plan itself.
Use Venngage’s My Brand Kit to automatically add your brand colors and fonts to your business plan with just a few clicks.
An essential startup business plan should include a clear and compelling value proposition, market analysis, competitive analysis, target audience identification, financial projections, and a well-defined marketing and operational strategy.
For a typical startup, the need to appear disruptive in the industry is important. After all, if you’re not offering anything truly new, why would an investor turn their attention toward your organization. That means establishing a problem and the ways in which you solve it right away.
Startup business plan outline:
- The problem : Identify the specific issue or pain point your startup aims to solve.
- Target market & opportunity : Define your customers and the potential market size.
- The solution : Describe the product or service that addresses the identified problem.
- Traction and validation/roadmap : Outline the progress made so far and the future milestones and goals.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Red-Investor-Pitch-Deck-Template.png)
Whether it’s a full-scale business plan or, in this case, a pitch deck, the ideal way for a startup to make a splash with its plans is to be bold. This successful business plan example is memorable and aspirational.
In the Venngage editor, you can upload images of your business. Add these images to your plans and reports to make them uniquely your own.
All businesses start out small at first, but that doesn’t mean their communications have to be small. One of the best ways to get investors, lenders and talent on board is to show that you’ve done your due diligence.
Small business plan outline:
- Table of contents : List down of all the sections and sub-sections in the business plan.
- Business overview : Include a quick overview of what your business is all about, including your mission and goals.
- The market : Analyzes who your customers are, what they need, and how big the market is.
- The competition : Look into your main competitors and what they’re good at (and not so good at).
- Sales and marketing plan : Lay out your game plan for attracting and keeping customers.
- Operating plan : Explain how you’ll run the day-to-day operations and manage the business.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Comprehensive-Business-Proposal.png)
In this small business plan example, the content is spread over many pages, which is useful in making lengthy, in-depth research feel less like a chore than packing everyone on as few pages as possible.
Organizations that set out to solve problems rather than earning profits also benefit from creating compelling business plans that stir an emotional response in potential donors, benefactors, potential staff members or even media.
Nonprofit business plan outline:
- Table of contents : Lists all sections and sub-sections of your nonprofit business plan.
- Introduction : Provide an overview of your mission and purpose.
- Goal : State the specific objectives your nonprofit organization aims to achieve.
- Impact & strategy : Explain how you plan to create positive change and the methods you will use.
![description of venture in business plan example Green Tree Nonprofit Business Plan](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Nonprofit-Impact-Report.png)
Simplicity is the goal for nonprofits when it comes to business plans, particularly in their early days. Explain the crisis at hand and exactly how your organization will make a difference, which will help donors visualize how their money will be used to help.
Business plans are also helpful for companies that have been around for a while. Whether they’re considering new products to launch or looking for new opportunities, companies can approach business plans from the strategy side of the equation as well.
Strategic business plan outline:
- The problem, issue, or job at hand : Define the specific challenge or task the strategic plan addresses.
- Approach & methodology : Describe the methods and strategies that will be used to tackle the problem or achieve the objective.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Professional-Business-Action-Plan-Template.png)
Strategic business plans or strategy infographics should be highly focused on a single area or problem to be solved rather than taking a holistic approach to the entire business. Expanding scope too much can make a strategy seem too difficult to implement.
Easily share your business plan with Venngage’s multiple download options, including PNG, PNG HD, and as an interactive PDF.
One-page business plan example
For organizations with a simple business model, often a one-page business plan is all that’s needed. This is possible in any industry, but the most common are traditional ones like retail, where few complex concepts need to be explained.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Light-Strategic-Sales-Action-Plan-Template.png)
This one-page strategic business plan example could be easily replicated for an organization that offers goods or services across multiple channels or one with three core business areas. It’s a good business plan example for companies whose plans can be easily boiled down to a few bullet points per area.
Especially when entering a saturated market, understanding the landscape and players is crucial to understanding how your organization can fit it—and stand out. That’s why centering your business plan around a market analysis is often a good idea.
Market analysis business plan outline:
- Table of contents : Lists all sections and sub-sections of the market analysis business plan.
- Executive summary : Provide a brief overview of the key points of the market analysis.
- Business overview : Summarize your business’s mission, vision and core activities.
- The market : Analyze the target market, including customer demographics and market trends.
- The competition : Review the main competitors and their market positioning.
- Sales & marketing plan : Outline strategies for reaching and engaging customers.
- Operating plan : Details the day-to-day operations and management structure.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Design-Consultant-Business-Plan-Template.png)
In this example, the majority of the content and about half the pages are focused on the market analysis, including competitors, trends, pricing, demographics and more. This successful business plan example ensures the artwork and style used perfectly matches the company’s aesthetic, which further reinforces its position in the market.
You can find more memorable business plan templates to customize in the Venngage editor. Browse Venngage’s business plan templates to find plans that work for you and start editing.
Company description business plan example
Depending on the market, focusing on your company story and what makes you different can drive your narrative home with potential investors. By focusing your business plan on a company description, you center yourself and your organization in the minds of your audience.
Company description business plan outline:
- Executive summary : Briefly summarize the key components and objectives of the company description section.
- Approach & direction : Outline the company’s strategy, goals and the direction it intends to take in achieving them.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Simple-Interior-Design-Business-Plan-Template.png)
This abbreviated plan is a good business plan example. It uses most of the content to tell the organization’s story. In addition to background about the company, potential investors or clients can see how this design firm’s process is different from their rivals.
With Venngage Business , you can collaborate with team members in real-time to create a business plan that will be effective when presenting to investors.
Five-year business plan example
For most startups or young companies, showing potential investors or partners exactly how and when the company will become profitable is a key aspect of presenting a business plan. Whether it’s woven into a larger presentation or stands alone, you should be sure to include your five-year business plan so investors know you’re looking far beyond the present.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Red-Orange-Sales-Plan-Proposal-Table-Template.png)
With Venngage’s Business Plan Builder , you can customize a schedule like this to quickly illustrate for investors or partners what your revenue targets are for the first three to five years your company is in operation.
The lifeblood of any company is the sales team. These are the energetic folks who bring in new business, develop leads and turn prospects into customers. Focusing your energy on creating a sales business plan would prove to investors that you understand what will make your company money.
Sales business plan outline:
- Table of contents : List all sections and subsections within the sales business plan.
- Target market : Identify the specific segment or segments of customers the sales efforts will focus on.
- Customer profile : Provide detailed descriptions of the ideal customers, including demographics, preferences and needs.
- Action plan : Outline the specific steps and strategies to be taken to reach and engage the target market and achieve sales objectives.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Food-Customer-Sales-Action-Plan-Template.png)
In this example sales business plan, several facets of ideal buyers are detailed. These include a perfect customer profile that helps to convey to your audience that customer relationships will be at the heart of your operation.
You can include business infographics in your plan to visualize your goals. And with Venngage’s gallery of images and icons, you can customize the template to better reflect your business ethos.
Company mergers and shakeups are also major reasons for organizations to require strong business planning. Creating new departments, deciding which staff to retain and charting a course forward can be even more complex than starting a business from scratch.
Organization and management business plan outline:
- Table of contents : List all sections and subsections within the organization and management business plan.
- About us : Provide an overview of the organization, its mission, vision and values.
- Project summary : Summarize the key details and objectives of the project.
- Project timeline : Outline the milestones and schedule for completing the project.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Gradient-Business-Consulting-Proposal-Template.png)
This organization and management business plan focuses on how the company can optimize operations through a few key organizational projects.
Executive summary for business plan example
Executive summaries give your business plan a strong human touch, and they set the tone for what’s to follow. That could mean having your executive leadership team write a personal note or singling out some huge achievements of which you’re particularly proud in a business plan infographic .
Executive summary business plan outline:
- Table of contents : Lists all sections and subsections within the executive summary business plan.
- Executive summary : Provide a concise overview of the entire business plan, highlighting key points and objectives.
- Statement of problem : Clearly define the specific issue or challenge the business aims to address.
- Approach & methodology : Outline the methods and strategies that will be employed to solve the stated problem or achieve the desired goals.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Interior-Design-Business-Plan-Template.png)
In this executive summary for a business plan, a brief note is accompanied by a few notable achievements that signal the organization and leadership team’s authority in the industry.
Marketing and sales are two sides of the same coin, and clever companies know how they play off each other. That’s why centering your business plan around your marketing and sales strategy can pay dividends when it comes time to find investors and potential partners.
Marketing and sales strategy business plan outline:
- Table of contents : List all sections and subsections within the marketing and sales strategy business plan.
- Positioning : Describe how the business intends to position its products or services in the market to stand out from competitors.
- Value prop : Highlight the unique value proposition that the business offers to its target customers, including its benefits and advantages.
- Marketing strategy : Outline the overall approach and tactics that will be used to promote the products or services and attract customers.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Dark-Sales-Action-Plan-Template.png)
This marketing and sales business plan example is the picture of a sleek, modern aesthetic, which is appropriate across many industries and will speak volumes to numbers-obsesses sales and marketing leaders.
Do business plans really help? Well, here’s some math for you; in 1981, Apple had just gone public and was in the midst of marketing an absolute flop , the Apple III computer. The company’s market cap, or total estimated market value, could hit $3 trillion this year.
Did this Apple business plan make the difference? No, it’s not possible to attribute the success of Apple entirely to this business plan from July 1981, but this ancient artifact goes to show that even the most groundbreaking companies need to take an honest stock of their situation.
![description of venture in business plan example business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Macintosh-business-plan-1.png)
Apple’s 1981 business plan example pdf covers everything from the market landscape for computing to the products that founder Steve Jobs expects to roll out over the next few years, and the advanced analysis contained in the document shows how strategic Jobs and other Apple executives were in those early days.
Inviting strangers to stay in your house for the weekend seemed like a crazy concept before Airbnb became one of the world’s biggest companies. Like all disruptive startups, Airbnb had to create a robust, active system from nothing.
Airbnb business plan outline:
- Problem : Identify the specific challenge or need in the accommodation industry that the Airbnb business aims to address.
- Solution : Describe how Airbnb’s platform provides a solution to the identified problem by connecting hosts with guests.
- Market validation : Demonstrate through research or evidence that there is demand for Airbnb’s services.
- Market size : Estimate the total addressable market for Airbnb’s accommodation services.
- Product : Detail the features and functionalities of the Airbnb platform for both hosts and guests.
- Business model : Explain how Airbnb generates revenue and sustains its operations.
- Market adoption : Discuss the rate at which Airbnb’s services are being embraced by hosts and guests.
- Competition : Identify other players in the accommodation industry offering similar services to Airbnb.
- Competitive advantages : Highlight the unique strengths or advantages that set Airbnb apart from its competitors.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Airbnb-Pitch-Deck.png)
As this Airbnb business plan pitch deck example shows, for companies that are introducing entirely new concepts, it’s helpful not to get too into the weeds. Explain the problem simply and boil down the essence of your solution into a few words; in this case, “A web platform where users can rent out their space” perfectly sums up this popular company.
Sequoia Capital is one of the most successful venture capital firms in the world, backing startups that now have a combined stock market value of more than $1 trillion, according to a Forbes analysis .
For young companies and startups that want to play in the big leagues, tailoring your pitch to something that would appeal to a company like Sequoia Capital is a good idea. That’s why the company has a standard business plan format it recommends .
Sequoia capital business plan outline:
- Company purpose : Clarify the core reason for the business and its overarching goals.
- Problems : Identify specific challenges or pain points that the business aims to solve.
- Solution : Describe how the business addresses the identified problems with its products or services.
- Market potential : Assess the size and growth opportunities within the target market for the business.
- Competition : Analyze existing competitors and their strengths and weaknesses in the market.
- Business model : Outline how the business plans to generate revenue and sustain its operations.
- Our team : Introduce the key members of the team and their relevant expertise and experience.
- Financials : Provide projections and forecasts for the financial performance of the business.
- Vision : Articulate the long-term aspirations and goals that the business seeks to achieve.
![description of venture in business plan example description of venture in business plan example](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/06/Modern-Sequoia-Capital-Pitch-Deck-Template.png)
Using Sequoia Capital’s business plan example means being simple and clear with your content, like the above deck. Note how no slide contains much copy, and even when all slides appear on the screen at once, the text is legible.
Use Venngage to design business plans that will impress investors
Not every business plan, pitch deck or one-sheeter will net you billions in investment dollars, but every entrepreneur should be adept at crafting impressive, authoritative and informative business plans.
Whether you use one of the inspirational templates shared here or you want to go old school and mimic Apple’s 1981 business plan, using Venngage’s Business Plan Builder helps you bring your company’s vision to life.
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How to Craft an Opportunity Business Plan
Three crucial elements will help to spark investor interest in your startup.
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Before a presentation on The Great Gatsby to his college rhetoric class, Nico Aguilar suffered an anxiety attack so severe that he had to leave the room. Determined not to let that happen again, Aguilar read books on the subject and got coaching to become more comfortable with public speaking.
Determined to help others overcome similar difficulties, he came up with Speeko , an AI-powered tool that helps users improve their public speaking skills. He and his co-founders, all engineers, built an algorithm that measures one’s speaking voice and then offers tips for improvement. The team had the algorithm down pat, but the business approach? “We were completely lost there,” Aguilar said.
They turned to their mentors at tech incubator Techstars and the Polsky Center for Entrepreneurship and Innovation at University of Chicago for help in writing that critical document: a business plan.
3 Business Plan Examples
- An operating plan. This sketches out a business’ trajectory for the next 12 to 24 months. The plan includes staffing, revenue, projections, inventory and other factors necessary to running a business. Operating plans should be updated constantly as the business and market evolve.
- A financial plan, which examines the business from a cash-flow perspective. Take this plan, which takes a conservative view of your business’ finances, to the bank if you’re planning to get a loan.
- An opportunity or a vision plan. That’s the kind entrepreneurs present to potential equity investors. This plan should be aggressive, optimistic, and show how you will use your investors’ money to grow your business. It represents what’s possible if lack of capital is not holding you back.
The plan, written with the help of a tool called Business Model Canvas (more on that soon), included Speeko’s value proposition, its market, customers and predicted use. The plan went through multiple iterations and took several months to write. “It’s a big process to put together facts and figures,” Aguilar said. Their efforts paid off when Speeko won Polsky Center’s 2020 Alumni New Venture Challenge, a prize that comes with a $175,000 investment. Brimming with enthusiasm, entrepreneurs tend to stuff business plans with everything from detailed finances to long-term projections. Avoid overstuffing by deciding what kind of business plan to write before putting pen to paper, said Waverly Deutsch, adjunct professor at the University of Chicago Booth School of Business . Deutsch teaches the Global New Venture Challenge course, a venture launch competition for the executive MBA program.
If it’s a new business, then write an opportunity or vision plan to take to potential equity investors. This plan should be “highly optimistic” and not at all conservative, Deutsch said. “It’s what you can do if you raise the money you want to raise,” she said.
Gather Material
The opportunity or vision plan must show investors that your business presents a real opportunity, demonstrate that you can build the company you propose to build, and show investors how their money will help you build your company.
To prove the opportunity, outline your competitive differentiation in the marketplace. Show what problem your product solves for which market, the size of that market, and that customers are willing to pay for your product. If your product is what Deutsch calls “fundamentally different,” along the lines of Airbnb or Uber, “there’s a reason for customers to choose you,” she said, but those types of startups are rare.
“Most businesses are evolutionary, not revolutionary,” Deutsch said. New businesses not offering a radically different solution can differentiate on quality, service, business model, go-to-market approach, positioning in the market or other factors.
Your plan also must prove that you can build the company you propose to build. Details about arrangements with potential suppliers, any intellectual property involved in your business, and the status of the product, be it a demo or a prototype, are critical parts of an opportunity plan.
Another critical part: Your and your partners’ experience and knowledge as they pertain to launching a business. Avoid simply pasting your traditional job-seeking resume into the business plan. Instead, examine it carefully and draw solid lines between your past experience and the skills your new business will require. “It’s your job to sell your and your team’s experience to the investor,” Deutsch said, adding that entrepreneurs shouldn’t underestimate this portion of the plan. Lacking a tangible product and real-time market experience, “it all comes down to the people,” she said.
The third element: Your plan for creating inroads and a beachhead in your market. “De-risk the business for investors,” Deutsch said. Offer a detailed operating plan, complete with compelling milestones, for the next 12 to 24 months. Show them that their money will help create a repeatable, scalable sales process and a robust product truly valuable in the marketplace, she said. Show them that their money will help your startup get to the next round of funding. “Investors are always looking at that next round,” she said.
Further Reading What Investors Look for in an AI Startup
Prepare to Pivot
It is entirely possible that you’ll start writing and soon figure out that your big idea isn’t so big after all. “That’s good to learn early,” said Bob Bridge, executive director and founder of SWAN Impact Network , an angel investing organization with branches in Austin and Dallas, Texas. “Companies often pivot, especially when they start testing their ideas with customers.”
He suggested avoiding the “trap” of using feedback from 100 potential customers to decide whether a business is a go. When presented with an idea, “people, wanting to be helpful, will say that the idea sounds interesting, that it could work for them,” Bridge said. “The CEO hears this and it’s confirmation bias saying, ‘I think I have my first customer.’”
Instead, approach potential customers to see if they have the problem your business wants to solve, then ask for more information on that problem. “Ask questions and start peeling the onion and become the world expert on that problem,” he said. If you have the solution for exactly that problem, then discuss the budget with these potential customers, and confirm that your solution is a must-have, not a nice-to-have for them.
“Then you understand that there’s a problem to solve and people are willing to pay for the solution,” Bridge said. “That’s what we like to hear, that entrepreneurs have validated the business with real customers,” he said. “And when we do due diligence, before we would invest, we’d ask to speak to those customers and ask them if this is a nice-to-have or a must-have.”
Further Reading There Are 5 Basic Types of Entrepreneurs. Which 1 Are You?
Choose a Medium
“Nobody writes a 20-page Word document and I promise you no investor ever reads one,” said Bridge. He offers Business Model Canvas , a tool readily available online, as one option to the traditional prose document.
Business Model Canvas breaks down a business into nine parts: Key partners, activities and resources; value propositions; customer relationships and segments; channels; cost structure and revenue streams. The tool shows how all the parts connect, and via whiteboard, can be reconfigured and workshopped. Business Model Canvas “helped us try out 10 ideas before committing to one in the business plan,” said Aguilar of Speeko. The format “forces your business to be simple, which is a really good thing when you’re starting out,” he said.
A PowerPoint deck also works and is a must when presenting to investors. Bridge recalls driving to VC appointments on Silicon Valley’s Sand Hill Road. After every meeting, he’d pull over to revise his pitch deck. “On any given day, that PowerPoint may have been tweaked three or four times to make it more investable,” he said. “You’re always learning and improving your pitch, and it’s easy to do that with a PowerPoint slide.”
Deutsch, a proponent of telling a story in a business pitch, recommends a combination of media to present the story most effectively. “You need to have multiple communication tools available to you,” she said. She advised thinking along the lines of 10 pages of text, 10 pages of charts and data and more detail, and a one-page executive plan. Two decks, one light on text, for the presentation, and another more detailed leave-behind complete the business-plan package.
Deutsch said that every founder needs to be involved in the business plan, with each contributing their own area of expertise. The team member who’s the best writer should be responsible for making sure the plan is written in a unified voice, and that it is free of grammatical and spelling errors. She also suggested having an advisor read the plan to spot unanswered questions. There will be many, she said, and that’s not a cause for concern. “Don’t let perfect be the enemy of good,” she said. “You will never answer all the questions about your business until you’re actually executing on your business.”
Bridge agrees. “It takes twice as much time and twice as much money to hit milestones,” he said. “We know that and we’re comfortable with it.”
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Company Description Business Plan Example That Captivates Investors
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In today’s highly competitive market, a compelling company description can be the linchpin of a successful business plan. This section serves as the initial touchpoint for potential investors, offering a snapshot of your company’s mission, vision, and unique value proposition. Imagine a company that has not only identified a gap in the market but has crafted an innovative solution that addresses it with unparalleled precision. By clearly articulating your company’s core values, market positioning, and strategic goals, you paint a vivid picture of how your business stands out from the crowd and why it is poised for success.
A captivating company description goes beyond mere facts and figures—it tells a story that resonates with investors . Highlighting key milestones, market opportunities, and the expertise of your leadership team creates a narrative that demonstrates both your company’s potential and its readiness to capitalize on emerging trends. For example, a tech startup that leverages cutting-edge artificial intelligence to revolutionize customer service not only showcases its technological prowess but also its commitment to solving real-world problems. This approach not only grabs attention but also builds investor confidence by clearly presenting the strategic vision and operational excellence that underpin your business.
Company Description Basics
When starting with your company description, the basics form the first pillar of the narrative. These include the company name, the industry it operates in, and its legal structure. Presenting these details concisely from the outset ensures clarity and provides a transparent starting point for readers.
Here’s how you can present this information effectively:
- Company Name: GreenTech Solutions Inc.
- Industry: Renewable Energy
- Legal Structure: Corporation
Including the following fundamental information is essential:
Company Name: The company’s name is often the first piece of information that catches the reader’s attention. It encapsulates the brand identity and can hint at the nature or mission of the business.
Industry: Identifying the industry provides context regarding the type of business activities and market sector the company is involved in. This information helps readers to quickly understand what kind of business they are reading about and the market to which it pertains.
Legal Structure: Knowing a company’s legal structure (such as a Corporation, Limited Liability Company or LLC , Partnership, etc.) is crucial. It defines the legal standing, regulatory requirements, and ownership structure, impacting how the business operates and is perceived by investors and partners.
Adding these basic details into your company description not only establishes a foundation but also sets a professional tone, offering readers a succinct understanding of essential company information.
Crafting Your Mission and Vision Statements
Understanding why your company exists and what it aims to achieve is crucial not only for internal alignment but also for investor confidence. Your mission and vision statements serve as the foundation for your company’s promises and long-term aspirations, providing a roadmap for where you are going and why.
Mission Statement
At GreenTech Solutions Inc., our mission is to:
- Revolutionize the renewable energy sector
- Provide cutting-edge solar and wind power solutions
- Offer affordable and accessible energy options for all
Your mission statement articulates your company’s purpose and core objectives. It should be succinct yet impactful, highlighting what distinguishes your company in a crowded market. This not only explains what you do but also your motivations behind the business, creating a connection with stakeholders.
Vision Statement
We envision a world where:
- Clean energy becomes the standard
- Our innovative solutions drive a sustainable future
- Future generations benefit from our eco-friendly practices
The vision statement is your company’s inspirational goals. It showcases your long-term aspirations and the positive impact you aim to have on the world. By maintaining an optimistic and forward-looking tone, it can inspire both your team and external stakeholders.
These mission and vision statements not only convey your company’s core values and aspirations but also foster confidence and engagement among investors and employees alike. A clear, concise, and inspiring mission and vision serve as a guiding light, aligning your team’s efforts and attracting people who resonate with your company’s purpose.
Company History and Significant Milestones
Understanding a company’s history and its significant milestones is crucial for establishing credibility and showcasing growth. These elements provide context, illustrating how the company has evolved over time and highlighting the achievements that define its journey.
Brief History and Milestones
Below is a timeline table that captures the key dates and events in the history of GreenTech Solutions Inc. This structured presentation will give you a clear picture of the company’s growth trajectory and its impact across different milestones:
Year | Event | Impact |
---|---|---|
2015 | Company Founded by Jane Doe | Established GreenTech Solutions Inc. as a pioneering entity in the environmental technology sector. |
2016 | Completed First 100 Projects | Demonstrated early success and capability in project execution. |
2018 | Installation of 50,000th Solar Panel | Marked a significant milestone in our renewable energy efforts. |
2020 | Awarded Clean Energy Innovator Prize | Recognized for groundbreaking contributions in clean energy technology. |
2020 | Expansion to Europe and Asia | Expanded geographical footprint, enhancing global presence. |
2022 | Successfully Completed 500th Project | Consolidated market leadership with a robust portfolio of completed projects. |
This timeline not only showcases the growth of GreenTech Solutions Inc. but also highlights the tangible impact each milestone has created over the years. From the founding of the company to significant recognitions and strategic expansions, these achievements underscore the company’s commitment to advancing environmental technology and expanding its influence globally.
Incorporating such detailed history and milestones into your company description is essential. It helps potential investors, clients, and partners understand the journey of your company, witness its accomplishments, and trust its capacity for future growth and success.
Clarifying Your Company’s Products or Services
Understanding and clearly communicating what products or services your company offers is crucial for a compelling business plan. Potential investors need to grasp the unique selling points and benefits of your offerings to appreciate what sets your company apart in the market. This transparency not only builds credibility but also highlights the potential for success and growth.
Our product lineup at GreenTech Solutions Inc. illustrates this principle effectively:
Product Lineup
Advanced solar panels, wind turbines, smart energy management systems.
Our solar panels are engineered for exceptional efficiency and long-term durability. Their unique design ensures maximum energy absorption, making them perfect for a variety of climates and conditions. Whether homeowners or businesses are looking to reduce their energy bills, our solar panels offer a reliable solution that guarantees performance over time.
Key Benefits:
- High efficiency leads to greater energy production.
- Durability ensures long-lasting usage with minimal maintenance.
- Ideal for diverse climatic conditions and varied installations.
Our wind turbines are specifically designed to operate efficiently even in low wind conditions. This innovative approach allows for a wider range of geographic applications, providing energy solutions where traditional turbines may not suffice. Their streamlined construction also minimizes noise and visual impact.
- Optimal performance in variable wind conditions.
- Suitable for a broad range of locations beyond typical windy areas.
- Reduced noise levels and lower visual footprint.
Our smart energy management systems empower users to monitor and optimize their energy consumption in real-time. This technology goes beyond basic tracking; it actively helps users to identify inefficiencies, forecast energy needs, and adjust their usage accordingly to achieve both cost savings and environmental benefits.
- Real-time monitoring and optimization of energy use.
- Significant cost savings through efficient energy management.
- Environmental benefits from reduced energy wastage.
By clearly describing each product and its unique advantages, investors can easily identify the strengths and competitive edges of your company. This clarity not only aids in decision-making but also positions your business as a thought leader and innovator in your industry. A well-defined product or service offering is a cornerstone of a solid business plan.
Identify Your Target Market and Existing Customer Base
Understanding and clearly identifying your target market and existing customer base is crucial for demonstrating the reach and effectiveness of your products or services. This allows you to highlight who benefits most from what you offer, providing essential insights into market penetration and future potential.
Target Markets
Our primary target markets include a variety of sectors and groups, demonstrating the versatility and wide-reaching impact of our products and services. Below is a detailed list of our key target markets:
- Residential Homeowners
- Commercial Businesses
- Governmental Entities
By clearly listing out our target markets, we can more effectively communicate the scope and adaptability of our services. This approach also makes it easier to tailor our marketing and sales strategies to address the unique needs and preferences of each sector.
Key Customer Demographics, Needs, and Benefits
To further illustrate the benefits and reach of our services, we have summarized the key demographics, needs, and benefits for each type of customer in the table below:
Customer Type | Key Demographics | Primary Needs | Benefits Received |
---|---|---|---|
Residential Homeowners | Age: 30-65, Middle to Upper Income, Eco-conscious | Renewable Energy Solutions, Cost Savings | Reduced Energy Bills, Environmental Impact |
Commercial Businesses | Various Industries, Large Scale Operations | Energy Efficiency, Sustainability Compliance | Operational Cost Reduction, Corporate Social Responsibility |
Governmental Entities | Municipalities, State Agencies | Public Energy Solutions, Budget Compliance | Long-term Savings, Public Good Enhancement |
This table effectively visualizes the diverse customer base we serve and underscores the tailored solutions we provide to meet specific needs. Whether they are residential homeowners looking to reduce their energy bills or governmental entities aiming to enhance public goods, our services offer substantial benefits aligned with their needs.
Importance of Knowing and Presenting Your Target Market
Knowing and accurately presenting your target market is a fundamental aspect of a robust company description. It not only showcases your understanding of who you serve but also helps build credibility and trust with potential investors, partners, and customers.
When you define and demonstrate a clear target market, you highlight your company’s strategic focus and market expertise. This information can be vital for fundraising efforts, as investors want to see proven market demand and potential for growth. Equally, it supports better alignment of your marketing and operational strategies to meet the specific needs of your customers, ultimately driving business success.
Showcasing Your Leadership Team
When it comes to securing investments, the people behind your company are just as important as the business idea itself. Investors place significant value on the expertise and experience of your leadership team because a capable team can effectively navigate challenges and seize opportunities. Highlighting the key team members and their qualifications not only builds credibility but also fosters trust among potential investors.
Key Team Members and Their Qualifications
Below is an introduction to the prominent members of our leadership team, detailing their roles and unique qualifications:
- Environmental Engineer
- 15 years of experience in the renewable energy sector
- MBA in Finance
- 10 years of experience in clean tech investments
- Former Senior Manager at a leading energy firm
- Expert in operational efficiency
Presenting a well-rounded and experienced leadership team brings multiple benefits. It reassures investors that the company has the expertise necessary to manage operations effectively and achieve strategic goals. Each highlighted member’s qualifications should confidently reflect their ability to contribute to the company’s success, leveraging their respective fields of expertise to steer the company towards growth and stability.
The emphasis on qualifications and prior experience further demonstrates that your leadership team is well-prepared to drive the company forward, ensuring that investors feel confident in their potential returns. Trust in a capable leadership team is a decisive factor for investors when considering funding opportunities. By showcasing these strengths, you positively influence their decision-making process. “`
Your Business Model and Strategy
Understanding your business model and strategy is crucial for articulating how your company intends to achieve its mission and vision. A well-defined business model lays the foundation for operations, while strategic initiatives ensure sustainable growth and competitiveness in the market.
Example: GreenTech Solutions Inc.
GreenTech Solutions Inc. serves both business-to-business (B2B) and business-to-consumer (B2C) markets by providing innovative renewable energy solutions tailored to diverse client requirements. Our strategy emphasizes innovation, superior customer service, and strategic alliances, enabling us to broaden our reach and amplify our impact.
B2B and B2C Components
The following table delineates the elements of our business-to-business and business-to-consumer models :
Component | Business-to-Business (B2B) | Business-to-Consumer (B2C) |
---|---|---|
Target Clients | Corporations, Small and Medium Enterprises (SMEs), Industry Partners | Individual Homeowners, Eco-conscious Consumers |
Offerings | Customized Renewable Energy Systems, Consultation Services | Pre-packaged Solar Kits, Consumer Education |
Sales Process | Direct Sales, Corporate Contracts, Long-term Partnerships | Online Sales, Retail Outlets, Customer Referrals |
Marketing Strategy | Trade Shows, Industry Publications, Direct Outreach | Social Media Campaigns, Influencer Marketing, Community Workshops |
This table clearly outlines the distinct approaches we take in our B2B and B2C segments. By customizing our offerings and sales processes, we ensure that we meet the specific needs of each market effectively. Such differentiation is essential for optimizing our resources and maximizing impact.
Specific Strategic Initiatives
To successfully implement our strategy, GreenTech Solutions Inc. has developed several strategic initiatives. Here are some examples:
- Innovation Hub: Establishing an in-house innovation hub to foster new technologies and renewable energy solutions.
- Customer-Centric Services: Launching a 24/7 customer support center and offering personalized energy audits to identify optimal solutions for clients.
- Strategic Partnerships: Forming alliances with sustainability-focused organizations to co-develop projects and broaden our market influence.
- Educational Campaigns: Running educational workshops and webinars to inform and engage consumers about the benefits of renewable energy.
- Market Expansion: Extending our market presence to new geographical regions by establishing satellite offices and distribution centers.
These strategic initiatives demonstrate our commitment to innovation, customer satisfaction, and sustainable growth. By continuously refining our strategy and forming strategic alliances, GreenTech Solutions Inc. is well-positioned to lead the way in the renewable energy sector.
Listing Your Awards and Recognitions
Acknowledging and promoting your company’s awards and recognitions is a powerful way to enhance its reputation and credibility. When potential clients or investors see that your business has been officially recognized for excellence in your field, it establishes a strong foundation of trust and showcases your commitment to quality and innovation. Here are some specific examples of accolades that can significantly boost your company’s credibility.
- Winner of the 2020 Clean Energy Innovator Prize: This award underscores our pioneering advancements and leadership in the clean energy sector, distinguishing us from competitors.
- Certified by the International Renewable Energy Agency: Receiving certification from such a prestigious entity highlights our adherence to global standards and dedication to sustainable practices.
- Featured in the ‘Top 10 Renewable Energy Companies to Watch’ by Green Business Magazine: Being featured in this reputable publication signals to stakeholders that we are an emerging leader in renewable energy, worthy of attention and investment.
Each of these recognitions speaks volumes about our company’s dedication to excellence, innovation, and sustainability. They provide tangible evidence that we are not only meeting but exceeding industry standards. Showcasing honors like these can significantly increase your business’s attractiveness to investors, clients, and partner organizations, cementing your standing as a trusted and forward-thinking player in your industry.
Final Thoughts: A Well-Written Company Description
A well-written company description is a pivotal part of a business plan that has the power to captivate investors. By covering essential aspects such as your mission, history, products, target market, leadership, and accomplishments, you provide a rounded, engaging, and convincing snapshot of your company. Remember, the objective is to inspire confidence and interest, setting the stage for potential investment and growth opportunities. Here are the key aspects to focus on when writing your company description:
- Mission: Clearly articulate the purpose and objectives of your company, highlighting what you aim to achieve in the long run.
- History: Provide an overview of the company’s background, detailing its inception, evolution, and significant milestones.
- Products: Describe your products or services, focusing on their unique features, benefits, and market potential.
- Target Market: Identify and characterize the primary audience for your products or services, emphasizing their needs and how you address them.
- Leadership: Introduce your management team, showcasing their expertise, experience, and roles within the company.
- Accomplishments: Highlight notable achievements, such as awards, recognitions, partnerships, or key projects that underscore your company’s success and credibility.
Each of these elements plays a crucial role in painting a comprehensive and persuasive picture of your company. By systematically addressing these points, you can effectively communicate the strength and potential of your business to investors. A well-rounded company description not only showcases your business acumen but also builds trust and credibility in the eyes of potential stakeholders.
In conclusion, a thoughtfully crafted company description is an invaluable component of your business plan. It encapsulates the essence of your business and sets a compelling narrative, paving the way for investment and growth. Use this guide to create a company description that resonates with your unique story and aligns with your goals, inspiring confidence and interest in your venture.
Frequently Asked Questions
Having a solid Frequently Asked Questions (FAQ) section is crucial in addressing common queries your audience might have. It not only helps in providing immediate answers but also builds trust and transparency. Below, we have compiled a list of the most common questions we receive, along with detailed answers to guide you through the process.
- Question: Why is a company description important in a business plan? Answer: A well-crafted company description provides investors with a clear and concise overview of your business, its mission, vision, and value proposition. This helps them quickly understand the core aspects and potential of your company.
- Basic company details
- Mission and vision statements
- History and milestones
- Products and services
- Target market
- Leadership team
- Business model and strategy
- Achievements and accolades
Including these elements ensures you cover all essential aspects of your business, giving a full picture to potential investors and stakeholders. By structuring your description this way, you make it easier for interested parties to quickly grasp your company’s identity and strengths.
While detailing your company’s history, focus on key milestones and achievements that illustrate your growth story. Avoid unnecessary fluff and keep the narrative engaging, allowing investors to follow your progress effortlessly and understand your business evolution clearly.
- Focus on clarity
- Highlight unique strengths and achievements
- Provide a compelling narrative around your mission and vision
- Ensure your leadership team’s expertise and strategic planning are well-illustrated
By incorporating these elements, you make your company description not only informative but also compelling. Investors are more likely to be drawn to a well-articulated narrative that showcases your business’s unique value proposition and strategic foresight.
Addressing these frequently asked questions can significantly enhance the effectiveness of your business plan. By focusing on clarity, comprehensiveness, and engaging storytelling, you provide investors with the insights they need to make informed decisions. Make sure each section is detailed enough to be informative yet concise enough to keep the reader’s attention. This balance is key to crafting an impactful business plan.
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How to write a business description that makes your business plan shine
![description of venture in business plan example How to write a business description: Man in apron working at laptop](https://business.yelp.com/wp-content/uploads/2023/10/lp-ban-business-man-in-workshop-v2-1280x729.webp)
Key takeaways
- A business description is a high-level overview of your company that you include in your business plan
- Your business description should entice readers—like lenders and investors—to look through the rest of your business plan to learn more about your company
- Business descriptions should be concise, error-free, and include only pertinent information about your company
Most successful businesses have one thing in common—they all have a buttoned-up business plan . It lays out the goals of the company, how a company will reach those goals, and when these goals will be realized. And while there are many sections of a business plan, a well-written business description is one of the most important parts.
However, some small business owners may not know how to write an effective business description . Luckily, there’s an easy formula to follow along with a few tips for writing an impactful business description .
What is a business description ?
Also called a company description , your business description summarizes what your company does, its purpose, and what makes it unique. It’s a critical component of your business plan and immediately follows your executive summary . Since it’s one of the first pieces of information a reader will see, it must make a great first impression.
The goal of your business description is to inform readers—like lenders , investors, potential partners, and even employees—how your business benefits consumers and what place your business has in the market. Your business description should give readers a clear understanding of your business and its functions.
Why is a business description important?
A business description is important because it gives readers a single place to learn the details about your company. A well-crafted business description can intrigue readers and encourage them to read the rest of your business plan .
Investors or lenders will have one major thing on their minds—return on investment. They want to know if your business has the potential to be successful and whether it’s worthy of their investment dollars.
Your business description is your first opportunity to wow these investors or lenders and show them why your business will be profitable. It can pique their interest and push them to dig into the rest of your business plan .
What to include in a business description
![description of venture in business plan example Shopkeeper at retail counter with laptop](https://business.yelp.com/wp-content/uploads/2023/10/lp-ban-woman-writing-business-description-v2-1024x663.webp)
An effective business description should include information that tells readers exactly what your company does, who is in charge of operations, and what will make your company successful. It should also tell readers what makes you different from competitors and why customers will come knocking at your door with their business.
Below, we’ve outlined every piece of information you should include in your business description . We’ve also created a hypothetical scenario for a hamburger restaurant and added a business description example for each step .
Business name
List the official name of your business as it’s registered with your state. Also include the names of the owner(s) and other key members of your management team .
Example: Jay’s Organic Burger Joint, owned and operated by Jacob Doe
Business goals
Detail the purpose of your business and what you’re aiming to achieve with your venture. These should be realistic short- and long-term goals.
Example: Jay’s aims to grow local brand awareness by 20% and forge partnerships with four additional local suppliers in the next year. The company also intends to expand operations to an additional location in the Chicago area and is seeking an investment of $200,000 in exchange for equity in the company.
Target customers
Have a thorough understanding of who your target market is. Explain who you’re selling to and why they will buy your product or service. Dig deeper into their needs and motivations so you can predict their purchase behaviors. Identifying the demographics of your target market, such as age group, income, and interests, can give you a competitive edge and attract loyal customers.
Example: Jay’s understands that its customers are health-conscious but have busy lives with little time for preparing healthy meals.
Competitive advantages
Describe what makes your business unique from your competitors. Readers should understand why your company will succeed and make you a front-runner in the market.
Example: Unlike its competitors, the restaurant alleviates the target audience’ s pain points by providing quick and easy meals that are also healthy for the entire family.
Business location and opening date
Include where your company is headquartered and where you will be conducting business. Also, share when you opened your business or when you plan on opening if you haven’t already.
Example: Jay’s Organic Burger Joint is headquartered in Chicago, Illinois and opened operations in April 2019.
Mission statement
Your mission statement tells readers why your business exists. It should highlight the motivations for starting your business and summarize your product or service, target consumers, and why you’re unique.
Example: Jay’s Organic Burger Joint is a fast-casual restaurant that serves the highest quality hamburgers to hungry and health-conscious customers in Chicago, Illinois.
Products or services
Highlight what products or services you’re offering customers. Also, discuss the benefits your products or services provide and what makes them different from competitors.
Example: The menu focuses on healthy meals using only organic ingredients and grass-fed beef.
Business structure
List what type of business you’re operating. For example, this could be a sole proprietorship , partnership, limited liability company (LLC), or another type of corporation.
Example: The business is a limited liability company owned by Jacob Doe.
Once you’ve included all of these details in your business description , it should look something like this:
Jay’s Organic Burger Joint is a fast-casual restaurant that serves the highest quality hamburgers to hungry and health-conscious customers in Chicago, Illinois. Jay’s understands that its customers are health-conscious but have busy lives with little time for preparing healthy meals.
Unlike its competitors, the restaurant alleviates target customers’ pain points by providing quick and easy meals that are also healthy for the entire family. Jay’s uses local ingredients sourced from farmers in the greater Chicago area. The menu focuses on healthy meals using only organic ingredients and grass-fed beef.
The business is a limited liability company owned by Jacob Doe. Jay’s Organic Burger Joint is headquartered in Chicago, Illinois, and opened operations in April of 2019.
Jay’s aims to grow local brand awareness by 20% and forge partnerships with four additional local suppliers in the next year. The company also intends to expand operations to an additional location in the Chicago area and is seeking an investment of $200,000 in exchange for equity in the company.
Learn how to reach new customers, cultivate customer loyalty, and elevate your brand with this guide on online marketing for small business .
How to write a business description
Not all business descriptions are made the same. There are a few tips to consider if you want your business description to stand out and wow your readers.
Have an elevator pitch
Your business description should kick off with an elevator pitch . An elevator pitch is typically spoken, but it helps to quickly summarize your company at the start of your business description. This pitch quickly covers the key aspects of your business and should be brief and persuasive. You should get straight to the point and immediately give readers your value proposition.
For example, Jay’s Organic Burger Joint could write something like “We serve the highest quality hamburgers and provide a convenient alternative for health-conscious customers who are always on the go.”
Keep it high level
Although you want your business description to be informative, you want to limit the amount of information you include in this section of your business plan. Keep it high-level and avoid going into too much detail. The subsequent sections of your business plan will cover the finer details. Remember, the goal is to give just enough information to entice readers to go through the rest of your business plan .
Show your excitement
This is your opportunity to show your excitement and give your business plan a human touch. Your business plan isn’t only selling your product or service to investors—it’s also selling you. Let your passion shine through as you explain why you started the company and what you aim to achieve.
Keep it short and concise
It can be easy to get carried away and make your business description too long. Avoid being too wordy, which can overwhelm the reader.
Business descriptions should only be a few paragraphs long for most types of companies. Remember, you’re trying to intrigue the reader and encourage them to read the rest of your business plan . If it’s too long, you’ll lose the reader’s attention.
Proofread for errors
Grammatical errors and misspellings can tarnish your company description . Even if you include all the right information, you won’t impress readers if it’s riddled with errors.
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Engage readers with your business description
A fine-tuned business description will kick off your business plan on a high note. Whether you’re launching a startup or already have your business up and running, knowing how to write a business description will provide a high-level overview of your company and can help you secure investment dollars from potential investors or lenders .
The information above is provided for educational and informational purposes only. It is not intended to be a substitute for professional advice and may not be suitable for your circumstances. Unless stated otherwise, references to third-party links, services, or products do not constitute endorsement by Yelp.
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How to write a cleaning business plan, with example
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![How to write a cleaning business plan How to write a cleaning business plan](https://gorilladesk.com/wp-content/uploads/2024/08/cleaning-business-plan-1.png)
“If you fail to plan, you plan to fail.” – Benjamin Franklin
A house cleaning service business plan can help you get a loan. It’s also a roadmap to a successful cleaning company. But —
There are seven key elements every business plan must have. It’s not hard to write one, but you’ll need to know the answers to some questions before you start.
See how to write a cleaning business plan below, along with tips, advice, and a sample cleaning business plan to get you off on the right foot.
What is a cleaning business plan?
A cleaning business plan is a document that shows why your business should exist, what it will do, how you’ll do it, and who you’ll do it for. It maps out your path to success, including financial projections, a market analysis, your services, and a description of your organizational structure.
Most banks will want to see a business plan before they’ll lend you money. Even if you don’t need a loan, a plan can guide you as you start and scale your business.
Pro Tip: If you’re just looking for the steps to create a successful cleaning company, one of the most important is to set your prices higher than you think. See our article on how to start a cleaning business for more.
The 7 parts of a cleaning business plan
Each cleaning service business plan has seven important parts. The best way to write your own plan is to read this article, then come back with a pen and notebook and jot down your best answers and to-do items. Writing the plan will be a lot easier if you’ve answered all the questions first.
1. Executive summary
Since you haven’t written your house cleaning business plan yet, you’ll skip this part for now. Then when you’ve finished writing the rest, you’ll come back and summarize your plan at the top.
- Your business name
- A very brief overview of your services
- Your mission and vision statements (see examples here and here )
- Why you’re writing the plan (for example, to get a loan or to increase your odds of success)
2. Company description
What is your company all about, and how will it be structured? Write about 100 words on:
- Your business structure ( LLC , corporation , sole proprietorship )
- The types of consumers you’ll serve
- A complete list of your service offerings (for example, cleaning homes and Airbnbs)
- Your business goals
3. Cleaning services you’ll offer
Re-list your service offerings, and this time, write a short description of each one. Include:
- Benefits to the customer of each service
- Why your services are better than the competition’s
4. Market analysis
This is where you show how much you understand the cleaning industry. Include:
- A list of your different types of customers (like property managers and homeowners)
- How many customers are in your area
- A detailed description of the other cleaning companies near you and their strengths and weaknesses
Pro Tip: Make it easier by introducing yourself to a few cleaning company owners and asking how-to questions. (You can find them by searching “cleaning business owner” on LinkedIn.)
5. Strategy
Describe your sales and marketing plan and how you’ll put it into action, including:
- Your operating hours and locations
- Your service area
- How many employees you’ll have, and where you’ll find them
- How you’ll find and connect with customers
- Your pricing
- Your costs, both fixed and per cleaning
- How the company will function (from getting a new customer to doing a cleaning and invoicing)
6. Leadership
Who’s in charge of your cleaning company, and what are they responsible for? Make:
- A list of your company’s leaders and job descriptions
- Names of the owners, what percent of the business they own, their background, and how much they’ll be involved
- Names and bios of any advisors or mentors who will help, including attorneys or other professionals
7. Financial plan and projections
You’ll most likely need to pay an accountant to help with creating financial projections. Create 3-year projections of:
- P&L statement
- Balance sheet
- Cash flow statement
You can see examples of all three projections below, at the bottom of the cleaning company business plan template below.
Pro Tip: Writer’s block? Tell ChatGPT the answers to the questions above, then ask it to write your plan up for you. Then read and adjust it to fit it to your business goals.
Example cleaning business plan
You can copy, paste, and edit this sample cleaning service business plan template to get started:
1) Executive Summary
Business Name: [Your Business Name]
Owner: [Your Name]
Location: [City, State]
Business Structure: Sole Proprietorship / LLC
Services Offered: Residential Cleaning, Deep Cleaning, Move-In/Move-Out Cleaning, Seasonal Cleaning
Mission Statement: Our mission is to provide high-quality, reliable, and affordable cleaning services that make our clients’ homes healthier and more comfortable.
2) Business Description
A) Company Overview:
[Your Business Name] is a residential cleaning service committed to offering top-tier cleaning solutions to homeowners. We specialize in maintaining a clean, organized, and hygienic living space that enhances the well-being of our clients. Our services cater to a variety of needs, from regular upkeep to deep cleaning sessions.
B) Target Market:
Our primary target market includes busy professionals, families, and elderly individuals who require assistance with maintaining their homes. Our services are also ideal for property managers and real estate agents in need of cleaning services for move-in/move-out or post-renovation scenarios.
C) Unique Selling Proposition (USP):
We stand out by offering personalized cleaning plans tailored to each client’s specific needs. Our commitment to using eco-friendly products and methods sets us apart, ensuring a safe environment for children, pets, and allergy-sensitive individuals.
3) Market Analysis
A) Industry Overview:
The residential cleaning industry is a growing market with increasing demand due to busy lifestyles, dual-income households, and an aging population. The shift towards eco-friendly cleaning solutions is also driving growth.
B) Competitor Analysis:
- Competitor A: Offers basic cleaning services at low prices but lacks personalized service.
- Competitor B: Focuses on high-end clients with premium pricing but limited availability.
- Competitor C: Uses eco-friendly products but charges extra for this service.
C) Market Trends:
- Increasing demand for green cleaning services.
- Growing preference for personalized and flexible cleaning schedules.
- Rising use of online booking platforms for convenience.
D) Target Customer:
- Demographics: Ages 25-65, middle to upper-middle income, homeowners, renters, and property managers.
- Geographic: Residential areas within [City/Region].
- Psychographics: Value convenience, cleanliness, and a healthy living environment.
4) Services Offered
- Standard Residential Cleaning: Regular cleaning services including dusting, vacuuming, mopping, and bathroom/kitchen cleaning.
- Deep Cleaning: Comprehensive cleaning, including areas not typically covered in standard cleaning, such as baseboards, inside appliances, and behind furniture.
- Move-In/Move-Out Cleaning: Specialized cleaning service for homes being prepared for new occupants or post-move-out.
- Seasonal Cleaning: Deep cleaning services tailored to specific seasonal needs, like spring cleaning or pre-holiday preparation.
- Customized Cleaning Plans: Tailored cleaning schedules and services based on individual client preferences.
5) Marketing Strategy
A) Branding:
Develop a professional brand image with a clean, modern logo, and a user-friendly website. Emphasize your commitment to eco-friendly products and personalized service.
B) Marketing Channels:
- Online Presence: Develop a website with online booking options, service descriptions, and testimonials. Use SEO strategies to increase visibility.
- Social Media: Engage potential clients on platforms like Facebook, Instagram, and LinkedIn with before-and-after photos, cleaning tips, and promotions.
- Local Advertising: Distribute flyers, post ads in local newspapers, and participate in community events.
- Referral Program: Offer discounts or free services for clients who refer new customers.
C) Pricing Strategy:
- Competitive Pricing: Set prices based on market research, offering competitive rates that reflect the quality and value of your services.
- Package Deals: Create cleaning packages for regular clients, offering discounted rates for long-term contracts.
6) Operations Plan
A) Location and Equipment:
- Location: Operate from a home office with a storage area for supplies and equipment.
- Equipment: Invest in high-quality cleaning tools, vacuum cleaners, mops, and eco-friendly cleaning products.
B) Staffing Plan:
- Initial Staffing: Start as a sole proprietor or with a small team. As the business grows, hire part-time cleaners or contract workers.
- Training: Provide thorough training in cleaning techniques, customer service, and safety protocols.
C) Operations Workflow:
- Client Consultation: Discuss client needs, schedule, and pricing.
- Service Delivery: Perform the cleaning service based on the agreed plan.
- Quality Control: Conduct follow-up checks to ensure client satisfaction.
- Billing and Payment: Use an invoicing system for easy payment processing.
7) Financial Plan
A) Startup Costs:
- Initial Equipment: $2,000
- Supplies (3 months): $500
- Marketing Materials: $1,000
- Website Development: $1,500
- Legal and Licensing Fees: $500
- Total: $5,500
B) Revenue Projections:
- Year 1: $50,000
- Year 2: $75,000
- Year 3: $100,000
C) Break-Even Analysis:
- Monthly Fixed Costs: $2,000
- Variable Costs per Job: $50
- Average Revenue per Job: $150
- Break-Even Point: 14 jobs per month
D)) Funding Requirements:
Seeking $5,500 in startup funding, which will be used to cover initial costs and establish the business.
- Legal Documents: Business license, insurance, contracts.
- Sample Cleaning Checklist: Detailed checklist for standard and deep cleaning services.
- Client Testimonials: Positive reviews from early clients to build credibility.
This house cleaning business plan template outlines the key steps and strategies for launching and growing [Your Business Name], positioning it as a trusted and reliable cleaning service provider in [City/Region]. With a focus on quality, customer satisfaction, and eco-friendly practices, we aim to build a loyal client base and achieve sustainable growth.
| |||
|
|
|
|
Revenue | |||
Total Cleaning Jobs | $30,000 | $45,000 | $60,000 |
Package Deals/Recurring Clients | $20,000 | $30,000 | $40,000 |
Total Revenue | $50,000 | $75,000 | $100,000 |
Direct Costs | |||
Cleaning Supplies | $1,500 | $2,250 | $3,000 |
Equipment Maintenance/Replacement | $500 | $750 | $1,000 |
Transportation (Fuel, Vehicle) | $2,000 | $3,000 | $4,000 |
Total Direct Costs | $4,000 | $6,000 | $8,000 |
Gross Margin | $46,000 | $69,000 | $92,000 |
Gross Margin % | 92% | 92% | 92% |
Operating Expenses | |||
Salaries & Wages | $20,000 | $30,000 | $40,000 |
Marketing & Advertising | $3,000 | $4,000 | $5,000 |
Insurance | $1,200 | $1,200 | $1,200 |
Website Hosting/Maintenance | $500 | $500 | $500 |
Office Supplies | $300 | $400 | $500 |
Utilities (Phone, Internet) | $600 | $700 | $800 |
Total Operating Expenses | $25,600 | $36,800 | $48,000 |
Operating Income | $20,400 | $32,200 | $44,000 |
Interest Incurred | $0 | $0 | $0 |
Income Taxes | $4,080 | $6,440 | $8,800 |
Total Expenses | $29,680 | $43,240 | $56,800 |
Net Profit | $16,320 | $25,760 | $35,200 |
Net Profit/Sales | 33% | 34% | 35% |
| |||
|
|
| |
Assets | |||
Current Assets | |||
Cash & Cash Equivalents | $3,000 | $8,000 | $15,000 |
Accounts Receivable | $5,000 | $7,500 | $10,000 |
Prepaid Expenses | $500 | $500 | $500 |
Total Current Assets | $8,500 | $16,000 | $25,500 |
Fixed Assets | |||
Equipment (net of depreciation) | $2,000 | $2,500 | $3,000 |
Total Fixed Assets | $2,000 | $2,500 | $3,000 |
Total Assets | $10,500 | $18,500 | $28,500 |
Liabilities & Equity | |||
Current Liabilities | |||
Accounts Payable | $2,000 | $3,000 | $4,000 |
Wages Payable | $1,500 | $2,000 | $2,500 |
Total Current Liabilities | $3,500 | $5,000 | $6,500 |
Long-Term Liabilities | |||
Loan Payable | $0 | $0 | $0 |
Total Long-Term Liabilities | $0 | $0 | $0 |
Total Liabilities | $3,500 | $5,000 | $6,500 |
Equity | |||
Owner’s Equity | $7,000 | $13,500 | $22,000 |
Retained Earnings | $0 | $0 | $0 |
Total Equity | $7,000 | $13,500 | $22,000 |
Total Liabilities & Equity | $10,500 | $18,500 | $28,500 |
| |||
|
|
|
|
Operating Activities | |||
Net Profit | $16,320 | $25,760 | $35,200 |
Adjustments for Non-Cash Items | |||
Depreciation | $500 | $500 | $500 |
Changes in Working Capital | |||
Increase in Accounts Receivable | -$5,000 | -$2,500 | -$2,500 |
Increase in Prepaid Expenses | -$500 | $0 | $0 |
Increase in Accounts Payable | $2,000 | $1,000 | $1,000 |
Increase in Wages Payable | $1,500 | $500 | $500 |
Net Cash from Operating Activities | $14,820 | $25,260 | $34,700 |
Investing Activities | |||
Purchase of Equipment | -$2,000 | -$1,000 | -$1,000 |
Net Cash from Investing Activities | -$2,000 | -$1,000 | -$1,000 |
Financing Activities | |||
Owner’s Equity Contribution | $7,000 | $6,500 | $8,500 |
Repayment of Loans | $0 | $0 | $0 |
Net Cash from Financing Activities | $7,000 | $6,500 | $8,500 |
Net Increase in Cash & Cash Equivalents | $19,820 | $30,760 | $42,200 |
Cash & Cash Equivalents at Beginning of Year | $0 | $19,820 | $50,580 |
Cash & Cash Equivalents at End of Year | $19,820 | $50,580 | $92,780 |
Once you’ve used the cleaning business plan template above to start your company, it’s time to grow it fast. Start by breaking up with bad customers. See our article on how to grow a cleaning business for more tips.
Grow your company with cleaning business software
To grow, you need an efficient system to schedule cleanings, plan your routes so you don’t spend all your time driving from place to place, and create fast quotes and invoices. So —
Use a cleaning business CRM like GorillaDesk to handle it all for you. GorillaDesk is a full-featured field service software tool to trim your workload, tame your schedule, and handle your invoicing.
GorillaDesk is the highest-rated cleaning company software on top review sites like Capterra for good reason. Our exemplary customer service chats with you in three minutes on average, and our interface is legendary for its ease of use and full-featured power. Call for a free demo today.
★★★★★ “Man am I so glad I went with GorillaDesk. Can’t wait to see what this year holds for our company after seeing what the program did for us last year.” -Tawndra F., Business Owner
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How to Start a Coffee Shop Business Plan
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Starting a coffee shop is a popular entrepreneurial venture due to the growing demand for specialty coffee and a comfortable place for social interaction. A well-structured business plan is crucial for the success of any coffee shop. It serves as a roadmap, guiding you through the process of starting and growing your business. Below is a comprehensive guide to help you develop a business plan for a coffee shop.
1. Executive Summary
The executive summary is the first section of your business plan but should be written last. It provides a concise overview of your business plan and should capture the essence of your coffee shop.
- Mission Statement: Define the purpose of your coffee shop. For example, “To provide a cozy and inviting space where customers can enjoy high-quality coffee, local pastries, and a friendly atmosphere.”
- Vision Statement: Describe the long-term vision for your coffee shop, such as expanding to multiple locations or becoming a well-known community hub.
- Business Objectives: Outline your short-term and long-term goals. These could include achieving profitability within a year, building a loyal customer base, or gaining recognition as a top coffee shop in your area.
2. Company Description
This section provides more detailed information about your coffee shop.
- Business Structure: Indicate the legal structure of your business (e.g., sole proprietorship, partnership, LLC, corporation).
- Ownership: Describe who owns the business and their respective roles.
- Location: Mention the physical location of your coffee shop or the planned location if you haven’t secured it yet. Discuss why this location is ideal (e.g., high foot traffic, proximity to offices, etc.).
- Products and Services: Provide an overview of what your coffee shop will offer. This includes coffee, tea, pastries, light meals, and any other products or services like catering or coffee beans for sale.
- Unique Selling Proposition (USP): Explain what sets your coffee shop apart from competitors. It could be your unique coffee blends, eco-friendly practices, or a specific theme.
3. Market Analysis
Conducting thorough market research is essential to understanding your target market and competition.
- Industry Overview: Discuss the coffee shop industry, including trends, market size, and growth potential.
- Target Market: Identify your ideal customers. Consider demographics (age, gender, income), psychographics (lifestyle, interests), and behaviors (frequency of coffee consumption, preference for specialty coffee).
- Market Need: Explain the demand for your coffee shop in the chosen location. Highlight any gaps in the market that your coffee shop will fill.
- Competitive Analysis: Analyze your competitors, including direct (other coffee shops) and indirect (cafes, bakeries) competitors. Discuss their strengths and weaknesses and how you plan to differentiate your business.
4. Marketing and Sales Strategy
Your marketing and sales strategy outlines how you will attract and retain customers.
- Branding: Define your coffee shop’s brand, including logo, color scheme, and brand messaging. Your brand should reflect your coffee shop’s identity and appeal to your target market.
- Pricing Strategy: Determine your pricing strategy based on costs, competition, and customer willingness to pay. Consider whether you will position yourself as a premium brand or offer more budget-friendly options.
- Promotion and Advertising: Outline your promotional strategies, including social media marketing, email campaigns, loyalty programs, and community events. Discuss any partnerships with local businesses or influencers.
- Sales Strategy: Describe how you will sell your products, including your point-of-sale system, payment methods, and upselling techniques.
5. Operations Plan
The operations plan details the day-to-day operations of your coffee shop.
- Location and Facilities: Describe the layout and design of your coffee shop, including seating capacity, kitchen equipment, and decor. Consider the customer flow and how it will enhance the customer experience.
- Suppliers: List your suppliers for coffee beans, tea, pastries, and other ingredients. Establish relationships with reliable suppliers to ensure consistent quality and supply.
- Technology: Discuss any technology you will use, such as a POS system , inventory management software , or an online ordering platform.
- Staffing: Outline your staffing needs, including baristas, kitchen staff, and management. Discuss your hiring process, training programs, and employee benefits.
- Operating Hours: Determine your coffee shop’s operating hours based on customer demand and competitor analysis.
6. Management and Organization
This section provides information about the management team and organizational structure.
- Management Team: Introduce the key members of your management team, including their roles, experience, and qualifications. If you’re the sole owner, describe your background and expertise in the coffee industry.
- Organizational Structure: Create an organizational chart showing the hierarchy of roles and responsibilities within your coffee shop. Include positions such as manager, barista, kitchen staff, and support roles.
- Advisors: Mention any advisors or consultants you plan to work with, such as a business coach, accountant, or legal advisor.
7. Financial Plan
The financial plan is one of the most critical sections of your business plan, as it outlines your coffee shop’s financial projections and funding needs.
- Startup Costs: List all the initial costs associated with opening your coffee shop. This includes rent, equipment, inventory, licenses, and marketing expenses. Be as detailed as possible to avoid any surprises.
- Funding Requirements: If you’re seeking funding, specify how much capital you need and how you plan to use it. Include information on any loans, grants, or investor contributions.
- Revenue Projections: Estimate your coffee shop’s expected revenue for the first three to five years. Break down revenue by product category (e.g., coffee, pastries) and by month or quarter.
- Cost Projections: Detail your projected expenses, including fixed costs (rent, salaries) and variable costs (ingredients, utilities). Calculate your break-even point to understand when your business will become profitable.
- Profit and Loss Statement: Create a projected profit and loss statement (also known as an income statement) that shows your expected income, expenses, and net profit over time.
- Cash Flow Statement: Outline your cash flow projections to ensure you have enough cash on hand to cover expenses. This is especially important in the early stages when cash flow can be tight.
- Balance Sheet: Provide a projected balance sheet that lists your assets, liabilities, and equity. This will give potential investors or lenders a clear picture of your financial position.
8. Appendix
The appendix includes any additional information that supports your business plan.
- Resumes: Include resumes of key management team members.
- Market Research Data: Attach any relevant market research data, surveys, or studies that support your market analysis.
- Supplier Contracts: Provide copies of contracts or agreements with suppliers.
- Legal Documents: Include any necessary legal documents, such as business licenses, permits, or lease agreements.
- Product Photos: If you have photos of your coffee shop’s interior, menu items, or branding materials, include them here to give readers a visual sense of your business.
9. Tips for a Successful Coffee Shop Business Plan
Creating a successful business plan for your coffee shop requires attention to detail and a deep understanding of the industry. Here are some additional tips to help you along the way:
- Research Thoroughly: Conduct in-depth research on the coffee shop industry, your target market, and competitors. The more information you have, the better equipped you’ll be to make informed decisions.
- Be Realistic: While it’s important to be optimistic about your coffee shop’s potential, it’s also crucial to be realistic. Avoid overestimating revenue or underestimating costs. Conservative estimates will help you prepare for any challenges that may arise.
- Seek Feedback: Don’t hesitate to seek feedback on your business plan from trusted advisors, mentors, or industry experts. They can provide valuable insights and help you identify any weaknesses in your plan.
- Keep It Updated: Your business plan is a living document that should evolve as your coffee shop grows. Regularly review and update it to reflect changes in the market, your business goals, or financial situation.
- Focus on the Customer Experience: In the coffee shop industry, customer experience is paramount. Your business plan should emphasize how you will create a welcoming and enjoyable environment for your customers, from the quality of your coffee to the ambiance of your shop.
Starting a coffee shop is an exciting and rewarding venture, but it requires careful planning and execution. A well-crafted business plan is essential to guide you through the process and ensure your coffee shop’s success. By following the steps outlined in this guide, you’ll be well on your way to creating a thriving coffee shop that delights customers and stands out in a competitive market.
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