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  • Business and self-employed
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Write a business plan

Download free business plan templates and find help and advice on how to write your business plan.

Business plan templates

Download a free business plan template on The Prince’s Trust website.

You can also download a free cash flow forecast template or a business plan template on the Start Up Loans website to help you manage your finances.

Business plan examples

Read example business plans on the Bplans website.

How to write a business plan

Get detailed information about how to write a business plan on the Start Up Donut website.

Why you need a business plan

A business plan is a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts.

A business plan helps you to:

You’ll need a business plan if you want to secure investment or a loan from a bank. Read about the finance options available for businesses on the Business Finance Guide website.

It can also help to convince customers, suppliers and potential employees to support you.

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How to write a business plan (and business plan template download)

6-minute read

Shop owner packaging items in store

Sam Bromley

10 November 2022

It’s important to know how to write a business plan, because it helps you answer questions about your business and recognise potential obstacles before you set it up properly. Our guide explains more, plus you can download a free business plan template too.

While not all new businesses start out by writing a business plan, for many it’s an important step. It acts as your guiding document, helping you establish and grow your business, and it has a life well beyond just setting up or applying for finance.

But how to make a business plan, exactly? The first thing to know is that it doesn’t have to be detailed – and in fact being too long and descriptive can put your readers off. You should be able to explain your idea clearly, structuring your plan into sections including:

Download a free business plan template UK

Our article below explains how to write a business plan. Why not download your free business plan template, which you can fill in as you work your way through our step-by-step guide?

Keep in mind that a business plan can take several weeks to write. It’s worth doing it properly – let us know how you get on, and if you have any questions.

What is a business plan?

But a business plan isn’t something you write down when you’re setting up and never look at again. You’ll refer back to it often, making sure you’re hitting your goals and getting the best from the brilliant ideas you come up with at the beginning.

And if you’re looking for funding, your business plan needs to convince people to back your idea.

So it’s not an overstatement to call your business plan the ‘bible’ you’ll use to help establish your company.

And while business plans come in different formats, most of them include the same core sections. If you want to read an example business plan before you get stuck in, find out where to get one below.

Business plan examples

Before you start writing, it might be useful to get some inspiration from other business plans.

Whether you're looking to start a business as a candle maker or dog walker , read some business plan examples to familiarise yourself with how to approach your type of business.

Once you’ve got an idea of how other businesses have written their business plan, it’s time to start writing your own.

How to write a business plan: step-by-step

H ow to write an executive summary for a business plan.

The executive summary goes at the beginning of your business plan. As it’s a snapshot of your plan, it’s often best to write it last.

This section is common in many business documents, from client reports to business proposals for new projects.

It’s designed to hook readers with your idea, giving an overview of your plan – including what makes you different, how you’re going to market your ideas, and how much money you expect to make (and spend).

As the executive summary is at the beginning of the document, it’s important to make a good impression on your readers. We’ve got a guide on how to write an executive summary , with a quick six-paragraph plan you can use to structure yours effectively.

Your business

This is where you jump in and start talking about your idea. This section should include:

Here you explain industry trends and the competitors you’re up against. It’s where you include the market research you’ve carried out.

This research can be quantitative (based on measurable data and statistics), qualitative (based on gathering individual experiences and opinions), or ideally both. This section should answer:

SWOT analysis

SWOT stands for strengths, weaknesses, opportunities and threats. This is a very important part of your business plan, because it helps you drill down into your idea. You usually format a SWOT analysis in a grid on one page – four squares, one for each section. Then you make notes in each square.

Formatting the SWOT analysis in a grid helps you see how the different elements of your idea interact. For example:

Completing SWOT charts for your competitors too should help you see how to win business from them.

Read more about creating a SWOT analysis .

Strategy and execution

Now that you’ve done some analysis, in this section you can explain how you’re actually going to run your business.

Here you’ll include a number of sub-sections:

Here you detail the numbers – especially important if you’re looking for investment. The financials need to be realistic, accurate and watertight.

Here’s what to include, presented in raw figures and charts:

The detail you need here depends on what stage you’re at with your business, as well as the size of your business. You might want to ask for expert help and advice on crunching the forecasts.

While the business plan itself shouldn’t be long and complicated, there might be information you choose not to include in the body of the plan itself that people should refer to.

This can include graphs, tables and notes. You can signpost the relevant appendices people should look at throughout the body of the business plan.

Top tips for writing a business plan

When you’re using business plan templates, keep the following in mind.

Know your audience . Remember who you’re writing for – is the business plan primarily for your own use, or are you looking for a loan, or even equity investment? Keeping your audience in mind will help you stay on track.

Keep it concise . Keep your plan snappy. While you don’t want to miss out crucial detail, you should also bear in mind people’s attention spans. Don’t turn in a 100-page plan.

Keep it simple . It’s likely your plan will be seen by people who don’t have intimate knowledge of your industry, so you need to make sure that it’s written in language that’s accessible to people without specialist experience.

Don’t forget the presentation . Tables, graphs and charts can help you get information across better than blocks of text. It’s also worth thinking about how to ‘pitch’ your plan to investors, potentially in a presentation that gives the toplines from your plan .

All ready to go? Now insure your new business

It’s important to look at business insurance when you’re starting out, because it helps protect you if anything goes wrong.

Most businesses should consider public liability insurance , which covers you if a member of the public gets ill or injured and blames your business.

Other covers to think about include employers’ liability insurance (usually a legal requirement if you have staff) and professional indemnity insurance , if you give advice as part of your business.

Read more articles about starting your business :

Going self-employed in the UK: a guide to get started

Which bank has the best business bank account?

How to register as self-employed

What is business insurance?

Get your business insurance sorted

We have over 800,000 customers plus a 9/10 satisfaction score. Why not take a look at our expert business insurance options – including public liability insurance and professional indemnity – and run a quick quote to get started?

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Business plans

If you’re thinking about setting up your own company, getting your business plan right is crucial. Check out our top tips on how to write a business plan. 

A business plan gives an outline of your business, the market in which it will operate and how it aims to make money - and should answer this question: why will your business succeed when so many others fail?

We can help you answer this during our Enterprise programme, which provides you with the skills, tools and confidence you need to become your own boss. But, there's no reason why you can't start crafting your business plan today. 

Apply for our Enterprise programme today . 

It’s really important that potential investors can understand what your business is all about from a quick glance at your plan. Make sure you include a summary of your business, and how it will make money right from the start, and use simple language throughout.

Be specific

Being specific is just as important as being concise. The details will help you drill down into how you will actually deliver your plan.

Know your market

A big part of knowing whether your business will be successful is understanding your audience. Make sure your plan is clear about your target market – who will you be selling to and how many other companies are already selling similar products?

Know your finances

The other essential part of a business plan is the finance section. If your business isn’t going to make any money, it won’t be successful so you need to be very clear on how you will make a profit. Use it to your advantage  – y our plan will be incredibly useful when it comes to securing loans and investment, but that’s not its only use. It’s also a personal tool to help you understand your objectives.

Did you know that we can give you access to start-up funding support with low interest personal loans for business purposes, from £500 to £25,000, offered through the Start Up Loans Company? We also offer small start-up business grants in special circumstances. Please note, failure to meet loan repayments may affect your credit score.

The Prince's Trust is authorised and regulated by the Financial Conduct Authority (FRN No.718625). We are registered with the ICO (Information Commissioner's Office) (No.Z5724362). We are a credit broker, not a lender. We can introduce you to a limited number of finance providers who may be able to offer you finance facilities. We will only introduce you to these finance providers.

Don't try and do everything on your own, join our Enterprise programme today .

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Business Plan template

What is a business plan.

A Business Plan is a written document that describes your core business objectives and how you plan to achieve them over a set period of time. It is designed to help you, and others, understand how you plan to generate money and make your business sustainable. A Business Plan often includes information about your goals, strategies, marketing and sales plans and financial forecasts. Read on below for more information about the key sections of a Business Plan.

Download your copy of the Business Plan template now. The document includes a Personal Survival Budget template and a Cash Flow Forecast template, which are also required for your application:

The guide is an annotated version of the Business Plan template with notes from our Business Advisers about what type of information, examples and evidence to include in order to help us understand you and your business. While we encourage you to use this Business Plan template, it is not mandatory and you are welcome to submit your own Business Plan template provided it details similar information.

Please note, the following documents should open on any device with a document viewer and editor but for the best user experience, we recommend editing this Business Plan template on a desktop.

Why is a Business Plan important?  

There are many great reasons why it is worth your time creating a Business Plan – even if you’re not quite ready to apply for a Start Up Loan. Here are just seven:

A Business Plan:

Key sections of a Business Plan:  

A Business Plan can include whatever information you feel is required to best convey how you are planning to make your business sustainable and, when it comes to applying for a Start Up Loan, the following are the core sections we require.

Your business and key objectives: A brief description of your business and its core products or services. This section also includes a clear and concise overview of the goals your business is trying to achieve over a set period of time. Sometimes these are broken down as short, mid and long-term goals, but it helps if they’re measurable (how will you know if you have achieved this?) and realistic (can you achieve this with the money, resources and time you have?).  

If you are applying for a Start Up Loan, you will of course also need to detail how you intend to use the money if you’re successful. Our Loan Assessment team will want to see that the Start Up Loan will support your overall business objectives.

Your skills and experience: An overview of your experience as it relates to your business. If you’ve previously worked in a similar business, or have experience running another business, this will help provide confidence that you are in a good position to start up. Even if this is all brand new to you, think about any transferable skills you’ve developed, life experiences you’ve had or training you’ve completed that may be useful.

Your target customers, market and competition: A summary of key insights that demonstrate you have a strong understanding of your customers (and how to identify them), your market (and how to position yourself within it) and your competitors (and how to differentiate yourself from them on factors like price, quality, brand etc).  

Your sales and marketing plans: This section is all about how you are planning to attract customers. You might include information about where you’ll distribute your products, what your branding and logo will be and what pricing you’ll apply. Additionally, you will need to demonstrate how you will spread the word about your product/services in order to generate demand, such as using social media, exhibiting at a trade conference or investing in online advertising.

Your operational plans: This will be different depending on your business model, but may include information on where you’ll trade (like a home office or external premises), the number of staff you’ll need to employ, what their roles will be and any equipment or tools you’ll need to run your business. You can also use this section to detail any processes that are important to your operations, as well as any industry, tax or legal regulations related to your business. It’s also good to think about any risks you may face, how you will overcome them and what you will do if things don’t go to plan.

Financials Many business plans include a financial section, which outlines how you’ll fund all of the activities you’ve outlined and what revenue you expect to generate. Because we ask you to complete a Cash Flow Forecast as part of your Start Up Loan application, we don’t require too much detail on this in your Business Plan. Rather, these two documents should be complementary.

Check out our Cash Flow Forecast guide and template >>

Writing a Business Plan – our top tips:

The tips below have been prepared by our Business Advisers and Loan Assessment team to help you understand some of the key things that will strengthen your application. For more in-depth advice, read our guidelines on how to write a Business Plan .

Learn new skills

Start Up Loans has partnered with the Open University to offer a range of free courses.

A Business Plan can include whatever information you feel is required to best convey how you are planning to make your business sustainable and, when it comes to applying for a Start Up Loan, the following are the core sections we require (our Business Plan template includes them).

Are you ready to kickstart your business?

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Download a business plan template

Our business plan template is an interactive form designed to simplify the process of creating your business plan.

Business plan preparation

The business plan template asks a number of detailed questions about your proposed business, so it's worthwhile to carry out research before you complete it. Consider:

Download our business plan template (DOC, 874K)

For further support to create your business plan see what to include in your business plan .

Part of My New Business

Pre-start checklist

Free Business Plan Template

Helena Young

Our experts

Our independent reviews are funded in part by affiliate commissions, at no extra cost to our readers.

Got a brilliant idea for a new business? Then congratulations, the hardest part is over. Now comes the most crucial: putting it down on paper.

Your business plan is the document that adds structure to your proposal and helps you focus your objectives on an achievable and realistic target. It should cover every aspect of what your business journey will look like, from licensing and revenue, to competitor and sector analysis.

Writing a business plan doesn't need to be a difficult process, but it should take at least a month to be done properly.

In today's capricious business climate there's a lot to consider, such as the impact of political challenges like Brexit. These details are especially important in today's bad economy. Investors are looking for entrepreneurs who are aware of the challenges ahead and how to properly plan for them.

Below, you'll find everything you need to create a concise, specific and authoritative business plan. So let's get started turning your idea into a reality!

monday.com-logo

Our below guide will give you detailed advice on how to write a quality business plan. But first, you need to know what to include – and that's where a high quality template can help.

monday.com business plan template

We recommend creating an account with monday to use this free template – doing so means you can start your entrepreneurial journey on the right foot.

What to include in your business plan:

There's a lot of information online about how to write a business plan – making it a confusing task to work out what is and isn't good advice.

We're here to cut through the noise by telling you exactly what you need to include for a business plan that will satisfy stakeholders and help develop a key identity for your brand. By the end, you'll have a plan to make even Alan Sugar proud and can get started with the most exciting part – running your business.

1. Executive summary

This section is a summary of your entire business plan.   Because of this, it is a good idea to write it at the end of your plan, not the beginning.

Just as with the overall business plan, the executive summary should be clearly written and powerfully persuasive, yet it should balance sales talk with realism in order to be convincing. It should be no more than 1,000 words.

It should cover:

2. Personal summary

Remember, investors want to know who they're investing in, as much as what. Outline your general contact details first, giving your telephone number, email address, website or portfolio, and any professional social media profiles you might have.

Run through this checklist to tell the reader more about yourself, and put your business ambitions into context.

Richard Osborne, founder and CEO of UK Business Forums, says personality is important in a business plan.

“Having a strong, personal reason at the heart of your business model will help keep you going and give you the motivation to carry on,” he affirms.

3. Business idea

Here, you should include your general company details, such as your business name and a  one-line summary of your business idea known as an  elevator pitch. This section should also list a few key business objectives to show how you plan to scale over the next 1-3 years.

We also recommend carrying out a SWOT analysis to tell investors what the strengths, weaknesses, opportunities, and threats are for your business idea. Think about:

Need a business idea? We've crunched the numbers and come up with a list of the best business ideas for startup success in 2023 based on today's most popular and growing industries.

4. Your products or services

Use this section to answer all of the below questions and explain what you plan to sell and how. Just like your business idea outline, your answers should be concise and declarative.

What insurance and licensing requirements do you need to consider?

Depending on what your business offers, you might need to invest in insurance or licensing. Our How To Start guides have more details about sector-specific insurance or licensing.

Public Liability, Professional Indemnity, and Employers' Liability are the most well-known types of business insurance. We've listed some other common other licensing and insurance requirements below:

5. Market analysis

This section pulls all of your target market and customer research together to indicate to stakeholders that you are knowledgable about the sector and how to succeed in it.

What is your marketing strategy?

Once you've highlighted who your rivals are in the market, you can provide details on how you plan to stand out from them through your marketing strategy.

Outline your  business' USP, your current marketing strategy, and any associated advertising costs.

6. Competitor analysis

This section demonstrates how well you know the key players and rivals in the industry. It should show the research you have carried out in a table format.

List the key information about your competitors:

Competitors will take two forms, either direct  or  indirect. Direct competitors sell the same or similar products or services. Indirect competitors sell substitute or alternative products or services.

Check out our list of the top competitor analysis templates to download free resources for your business, plus advice on what to include and how to get started.

7. Cash forecast

All of your considered costs can be put into one easy-to-read document called a monthly cash forecast. Cash forecasts contain:

1. Incoming costs such as sales revenue, customer account fees, or funding.

2. Outgoing costs such as staff wages or operating expenses. The latter can cover everything from advertising costs to office supplies.

For those firms which have already started trading, include any previous year's accounts (up to three years) as well as details of any outstanding loans or assets.

Annual cash forecast: what is it?

By conducting 12 monthly cash forecasts, you can create an annual cash forecast to work out when your company will become profitable (also known as breakeven analysis) . You will break even when total incoming costs = total outgoing costs.

In your annual cost budget, make sure to also include month opening/closing balance.  This is important to monitor for accounting, particularly for year-end.

The opening balance of any month will always be the same as the closing balance of the previous month. If you are repeatedly opening months with a negative closing balance, you need to adjust your spending.

8. Operations and logistics

This section gives investors a tangible idea of how your day-to-day business activities will be run, including key business partnerships around production and delivery.

1. Production

2. Delivery

3. Supplier analysis

Lastly, you should carry out a supplier analysis.  Write down 2-3 suppliers you plan to use as part of your business operations and evaluate them on factors like location and pricing.

9. Backup plan

In the event that your business does not go to plan, there will be costs to incur. A backup plan outlines to potential investors how you will pay back any outstanding loans or debt.

In the short-term: 

If your cash-flow temporarily stalls, what steps could you take to quickly raise money or make savings? For example, by negotiating shorter payment terms with your customers.

In the long-term:

If you've noticed a drop in sales that seems to be persisting, what changes can you make that would improve cash flow longer term? For example, can you do more of your business online to reduce rent fees?

To placate investors even further, it's a good idea to include details about potential support channels you can utilise (eg. a business network or contact) who might be able to help if you get caught in a sticky cash-flow situation.

Startups' 5 top tips for writing a business plan

Now that you're up to speed on everything a business plan needs to include, we recommend using the free monday.com business plan template to jot down your ideas.

At Startups.co.uk, we're here to help small UK businesses to get started, grow and succeed. We have practical resources for helping new businesses get off the ground – use the tool below to get started today.

Designing a business plan is very important for laying the foundation of your business. Ensure you spend an appropriate amount of time filling it out, as it could save you many headaches further down the line.

Once your plan is complete, you'll then be ready to look at other aspects of business set-up, such as registering your company. Sound daunting? Don't worry!

Our experts have pulled together a simple, comprehensive guide on How to Start a Business in 2023, which will tell you everything you need to know to put your new plan into action.

Startups.co.uk is reader-supported. If you make a purchase through the links on our site, we may earn a commission from the retailers of the products we have reviewed. This helps Startups.co.uk to provide free reviews for our readers. It has no additional cost to you, and never affects the editorial independence of our reviews.

Written by:

Helena Young

Helena is a Senior Writer at Startups. As resident people and premises expert, she's an authority on topics such as business energy, office and coworking spaces, and project management software. With a background in PR and marketing, Helena also manages the Startups 100 Index and is passionate about giving early-stage startups a platform to boost their brands. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK.

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business plan uk form

Business Plan Template

Writing Your Business Plan

A business plan is a document that will not only help you to evaluate your business idea, but it will also provide you with focus and direction. It should set out what you want to achieve and how you intend to achieve it.

Download A Business Plan (Word) Template Here

Making A Request For Funding

If you have identified that you will need to borrow money to start your business, then a detailed business plan will be required and will play a vital role in making a successful application for finance. A lender or investor will want to see that you can pay back any loans or provide them with a return on their investment.

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4 Free Business Plan Templates: Where to find them and what you get

Business Plan Templates to Download

1)      Gov.uk – The ‘write a business plan’ page of the UK government’s website includes advice and a selection of different business plan templates so you can select which one is best for your business.

2)      The Prince’s Trust – Although The Prince’s Trust specialise in supporting young people their business plan template is available to anyone. At 16 pages it is substantially shorter than the one from Business Link and is less formal in tone. The Prince’s Trust plan also goes into more depth on the logistics of how the company is going to work and the reasons for starting it up.

3)      Microsoft Word – Microsoft have a start-up business template which you can download. When you open it up in word it runs to 28 pages and is full of questions, advice and points to consider. Compared to The Princes Trust and Business Link plans it is a lot more text heavy and takes some reading. It is also a lot more focussed on the financials of the company than the other two plans, concentrating on accounts payable, pricing and other financial planning considerations.

4)      Your Bank – One of the main reasons people do a business plan is because their bank asks them to. If this is your motivation then it makes sense to use a template your bank will like. Our business banking partners HSBC have a business plan tool , Natwest have an online form and Barclay’s offer plenty of advice . Many of the other main UK banks also have templates or advice online. Using the bank’s own forms should mean that you tick all of the boxes and answer all of the questions they are likely to be looking at which can only help make your meeting go more smoothly.

Whichever template you choose it is important that you invest the time to get your plan right before you try to use it. Most of these plans require you to do a considerable amount of research into your target market, customers and competitors. Don’t leave it until the night before your bank meeting to get it done!

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AAT Business Finance Basics

You’ve got the brilliant business idea, you might have even started setting up or running your business, but writing a business plan and creating business proposals are vital for the launch and growth of any venture. It’s a document where you can organise all your ideas, create a company description, make sure that you’ve considered and researched everything, and ultimately decide that the business is viable. Commitment to making a business plan is a commitment to the business. Read our guide and download your free business plan template. 

What is a business plan?

A business plan is a document that details all the future plans and predictions for your business. It will explain your ideas, map out how they’ll be put into practice and provide relevant information and facts including the business details, management plan, operating plan, marketing and sales strategy , financial projections, and operational and team specifics.  

A business plan is essential in helping you: 

The business plan is a living, working document that should be read and reviewed regularly. If there are multiple directors or partners in the business then they should all be in agreement with what the plan outlines, the detailed information in the plan, and what is written in the plan. You will also need to share it with potential investors. The business plan will formalise all the ideas and assumptions, keep you focused, and ensure that everyone is on the same page.

How long writing your business plan should take will depend on your business size, the complexities of it and what stage you’re at. The most important thing is that it’s user-friendly and doesn’t include any waffle. Get straight to the nitty-gritty so that your stakeholders are engaged when reading it and so that you are more likely to use and update it regularly. Your business plan will probably cover the first three to five years. It’s important to include all the right information (see the checklist below) but it’s not a document to spend too long on. It’s more important that you are spending time running the business.

There are lots of business plan examples out there but typically yours should include: 

Writing a business plan will allow you to take a step back and look at the business more objectively, predicting potential issues in advance, such as financial forecasts, and coming up with solutions or a shift in how you originally thought that you would do something.

Download: Free UK business plan template

We want to take the stress out of writing a business plan. Our free downloadable UK business plan template will guide you on everything you need to include and get your business primed for success. 

Download: Please login or register to get your download.

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Getting started on a business plan

Before you begin to make your business plan, keep these three things at the forefront of your mind. 

Focus on what makes you unique

Be creative with your plan, shout about your unique selling proposition (USPs) and what makes you different. Represent your brand using language and visuals, and talk about why you and your team are best to run this business.

Don’t over complicate it

Keep it concise so that you can get on with running the business and so the business plan is an easily readable and usable document. Too much detail in the plan can become confusing.

Be realistic and honest

The business plan will give you an indication of where you’re supposed to be. Review it every few months, update it as you go and change your activities in line with it. It will be impossible for you to predict everything so just give it your best shot and be prepared to be flexible.

How to structure a business plan step-by-step

The business plan should follow this format with these six sections. 

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The executive summary should always be written last. Think of it as a one-pager giving an overview of all the best bits of your plan. If the executive summary doesn’t captivate and interest the reader then it’s unlikely that they will read the rest of your plan. 

Describe your what, where, who and why - including your product/service, brand, location, business model and size. 

This section will involve the most amount of research as you study the current and projected conditions of the market and the industry, and look at what your competition is doing , before making your own marketing plans . 

Explain the experience, skills and credentials of all the people involved. Why are they the right people to make this a success?

Detail your required facilities, premises, systems and software. 

This section translates everything into numbers - your startup and running costs, funding , revenue projections with a cash flow forecast . 

Business plan examples

Take a look at these business plan sections in more detail to see examples of the sort of details you should include, depending on your type of business.

1. The executive summary

Give a topline description of:

2. Business details and description

3. Marketing and sales strategy

4. management and employees.

5. Operational set up

6. Financial plan and projections

Business plan writing tips.

Writing a business plan can take some time and some areas of the plan will be easier to tackle than others. 

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BUSINESS PLAN _________________________________ ____________________ 14 March 2023

Executive Summary

The Ownership The business will be structured as a sole proprietorship.

The Management _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

The Goals and Objectives _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

The Product _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

The Target Market _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

Pricing Strategy _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

The Competitors _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

Business Plan - _________________________________

The Business

Business Sector The owners would like to start a business in the retail sector.

Business Goals and Objectives _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

Business Ownership Structure The business will be structured as a sole proprietorship.

Ownership Background ____________________ (owner): _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

Business Management Structure _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

Organisational Timeline _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

Business Assets _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

The Product

Marketing Plan

Pricing _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

Advertising _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

Competitor Analysis

Staffing _________________________________ will employ one full-time employee in the initial startup phase.

Business Plan Information

A Business Plan, also referred to as a marketing plan, business strategy, or business proposal, is a mission statement that sets out your vision, structure, and methods, and helps you to plan for the future. It includes a business history, a marketing analysis, a financial statement, and operational details.

A Business Plan is a living document, meaning it should be periodically revised and updated as your company grows and changes.

Who should write a Business Plan?

Anyone who is starting a business should map out their vision for the future. Startups often require external funding, and entrepreneurs can show their Business Plan to potential business investors, who will want to know what makes the enterprise a good investment and when they will see a return.

Established businesses can also benefit from developing a Business Plan to attract further funding, manage rapid growth, or reevaluate the company's vision and goals.

Why is a Business Plan important?

While many companies create a Business Plan to attract external funding, a Business Plan is also a vital internal document that can help you and your business partners to:

How do I write a Business Plan?

LawDepot's Business Plan template contains the following key sections:

Business Description: Your business name and address, as well as a brief history (how the business was started, how it has evolved, and any achievements to date).

Business Forecast: The measurable goals and objectives of your business, with a timeline for achieving them.

Business Structure: How the business is owned and managed (i.e. whether it is a sole proprietorship, partnership, limited liability partnership (LLP), or limited company), and how decisions are made.

Product/Service Details: The primary product or service your business will provide, in addition to potential future products or services.

Marketing Plan: Your business's target market, competitors, pricing strategy, and advertising strategy.

SWOT Analysis: A detailed description of your business's strengths, weaknesses, opportunities, and threats to help predict your viability and focus your business strategy.

Operational Details: A description of the business's day-to-day operations, facility, outside suppliers, and staffing requirements.

Financial Information: Your business's target market, competitors, pricing strategy, and advertising strategy.

When to should I review my Business Plan?

Your Business Plan should be updated whenever something changes, such as introducing a new product, branching into a new market sector, or taking on a business partner.

It's also important to regularly take a critical look at your business. At least once per year, complete a comprehensive update of your plan in light of developments within your business and industry as a whole. If you are pivoting or changing your business altogether, it is essential to revise your Business Plan.

Related Documents:

Frequently Asked Questions:

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