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Business Plan Template for Small Businesses
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Why you need a business plan
Writing a business plan can seem like a big task, especially if you’re starting a business for the first time and don’t have a financial background. After all, business plans have changed over the years, and what lenders and investors expect now is different than it was even just 10 years ago.
What hasn’t changed is that writing a business plan will help you:
- Develop a strategy for success
- Reduce the risk of starting a business
- Explore new business ideas
- Attract investors and get funding
Learn more about how you can get value out of your business plan .
What is included in this business plan template?
This template includes definitions, guidance, and examples for every business plan component needed to start, fund, and grow your business.
After downloading the full template, you’ll receive instructions on how to fill out each of the following sections.
Executive summary
The brief summary of your business plan introduces everyone to your business, the problem you solve, and what you’re asking from your readers. It’s the first chapter of your business plan and the last thing you write once you have the details from your full plan.
Problem & solution
More than a simple description of your products and services – here you define the problem you’re solving and the value you provide. It’s also your chance to showcase any initial traction that shows you’re on the right track.
Market analysis and target market
A detailed assessment of the market you intend to enter, including the size and value of the market, potential customer segments, and their buying patterns.
Competition
Show that you know who your competitors are, what advantages you have, and how you’re positioning your business to be competitive.
Marketing & sales
Describe how you’ll reach and sell to potential customers with a detailed sales plan and chosen marketing channels.
What makes your business run? Outline the day-to-day workflows and what needs to be set up for your business to deliver a product or service.
Milestones & metrics
Set goals for your business that include the dates and people responsible for accomplishing them. This is what you’ll use to manage responsibilities, track growth, and execute your larger strategy.
Company overview and team
Provide a brief rundown of the legal and structural components of your company, including your history, current team, and gaps you need to fill.
Financial plan
Create well-structured and accurate financial statements to help you pitch to investors, land funding, and achieve long-term success. All without the help of a financial advisor or a degree in accounting.
While not required, this last section of your business plan is a great place to drop in additional documents that support and strengthen the rest of your plan.
How do you write a simple business plan?
If you’re exploring a business idea and don’t plan to pursue funding, then you actually don’t need to write a traditional business plan. Instead, opt for a one-page plan , which is far easier to create but just as effective.
To write a simple one-page business plan, follow the same core sections as a traditional plan. But instead of lengthy paragraphs and multiple pages covering each area of your business, stick with single sentences and bulleted lists.
If a one-page plan sounds like a better option, download our free simple business plan template to get started.
Start your business plan today
Whether you're writing a business plan to validate your business idea, secure funding, or grow your existing business – our template will help you achieve your goals.
Business plan template FAQ
What file formats are available for this business plan template?
You can download and use this business plan template as a Google Doc, .docx (Microsoft Word), or PDF.
Can you print out this template?
This is a printable business plan template that can be downloaded and printed no matter which format you choose.
Why should you start with a business plan template?
Starting with a good business plan template (like this one) includes everything you need to get started. It helps you organize your thoughts, and provides guidance, instructions, and examples to create an investor-ready and SBA-approved business plan format. It really speeds up the planning process. Oh, and it's 100% free!
Is writing a business plan easy?
Using a business plan template can make writing a business plan easier. Additionally, if you focus on just getting your information down quickly, with the expectation that you'll revisit and revise your plan, you can speed up and simplify the process .
Can someone write your business plan for you?
If you're still struggling to write your business plan even when using a template, you can look into hiring a professional business plan writer. We even have a free resource to help you ask just the right questions to make sure you find the right plan writer.
A faster way to plan.
LivePlan is the #1 planning tool for over 1 million businesses.
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Simple Business Plan Template for Word, PDF
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Template Highlights
- Ten sections: Company description, Opportunity, Industry Analysis, Target Market, Management Team, Marketing Strategy, Timeline, Financial Plan, Conclusion. Bonus Appendices section, if you want to get fancy
- Detailed instructions for each section
- Add new sections or delete unnecessary ones -- the template is your oyster
- Make it yours with your logo and branding
- Download it as a PDF or Word file
- Print it, email it, send it by carrier pigeon if that's your jam
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Simple business plan template.
Business Plan Template
Executive Summary
Begin with a brief description of your company to give background and context. Tell the reader why you have embarked on this new venture.
Then, move into a description of the opportunity. Explain your project from the broadest to most narrow context. Tell readers what product or service you plan to offer, how it fits into the industry you’ll operate within, who your target customers are, and what you expect from the market in the future. Explain your value proposition, and give an overview of the market.
Briefly describe your management team to help potential investors understand the skills and experience your company brings to the table. Next, move into a description of how your business will operate on a day-to-day basis.
Then, describe how you will promote your new product/service. You don’t need to go into detail here, but you should provide enough information to illustrate the marketing methods you will use and how you will attract new customers.
Describe the cost structure and financial aspects of the business. You’ll need to explain the kind and amount of investment that you need, what you will use the money for, and how you envision your business becoming profitable.
Next, you should move into a description of how you will implement your business plan. How will you roll out your new business? What is the expected timeline?
Finally, close this section with a clear, pithy explanation of your project, why it is needed, and how it will benefit future customers and investors.
HubSpot Tip: Write this section last, after you have written all of the other sections. It should summarize your entire business plan in a page or two (at most).
Company Description
Provide a description of your organization. Include the company’s name, what type of entity it is, who owns it, and note any significant assets.
This is a good place to talk about why you do what you do. What is your company’s mission statement? What are your goals and objectives?
What product or service do you provide? Who are your customers? Do you have a geographic focus? If so, where?
Briefly describe the industry, the opportunities it offers, and the growth it is experiencing.
Note some of your company’s main strengths and briefly explain where you fit into the industry. You will delve more deeply into this later.
HubSpot Tip: Keep this section brief. You will have plenty of time to talk about the details of your company and the business opportunity later in the document.
The Opportunity
Describe the need in the market that your business idea will fill. How did this need arise and why has it not been filled yet?
Explain how you identified the need and how your product/service will meet it.
Describe your products/services here. You can include diagrams or pictures to help illustrate your offering.
You should also include a description of the features and benefits of your product/service to your customer. Consider capturing this in a simple table like the one below.
Product/Service Feature
Benefit to the Customer
HubSpot Tip: Be sure to include your value proposition in this section – describe how your service/product is attractive to customers.
Industry Analysis
In this section, you’ll want to talk about the key environmental trends in your industry. What are the barriers to entry (e.g., high production or marketing costs, tariff barriers, regulatory challenges, extensive training)? How is the industry progressing? What is changing?
Then think about your business’ competitive advantage. Are there other companies providing the same good/service that you will be offering? If so, are customers likely to switch to your product/service? How do you compare with your competitors?
HubSpot Tip: Note the key factors for success in this industry, and show that your company has them.
Target Market Research and Definition
Based on the market research that you previously conducted, provide an explanation of the market in which your business will reside. How big is the market? How fast is it growing? Will your product/service be a major factor in the market?
Define your target customers. Who do you expect to buy your product/service?
You should identify and describe your major competitors in this section, as well.
Identify what defines your product/service in the marketplace. What distinctive competencies or offerings do you offer that other companies do not?
HubSpot Tip: Though you want to mention some competitors, make sure the focus is on your business and how it will serve your target customers.
Management Team & Organization
Your readers will want to know that your team has the skills and qualifications to implement what you have outlined in the business plan. Include brief biographical sketches of your leadership, including the board of directors (if you have one) and any high-level external advisors that your company uses.
Include their educational credentials and a description of the relevant work they have done and accomplishments they have achieved. You can also personalize this section with headshots of your staff to help put faces to the names.
If you have a complicated management structure, consider including an organizational chart like the one shown below. Tailor it to include the names and roles of your leadership team.
HubSpot Tip: You don’t need to include descriptions of every position in the company, just high-level management.
Operations Plan
In this section, describe how you will manage your business and what daily operations will look like. You should cover at least the following topics, and any other relevant information that might be unique to your industry:
• Staffing – How many employees will you have? Where will they be located? What kinds of skills and certifications do they need?
• Infrastructure – What kind of physical space will your company occupy? Describe your business locations. What kinds of technologies will you require?
• Legal Structure – Legal issues are important in every industry. Describe the unique aspects of yours and how you will address them.
• Regulatory – Regulations also play a key role in most businesses. Include a discussion of the regulatory issues faced in your industry and how you will handle them.
• Certifications or Accreditations - Does your company require any special documentation to do business? If so, describe how you’ll attain the required certification or accreditation.
• Product/Service Delivery Process – Describe your business processes. These might include inventory, supply chain, and accounts payable and receivable.
HubSpot Tip: This list is not exhaustive, so be sure to include enough information to help potential investors understand how your business will operate.
Marketing Strategy
Marketing is a crucial to the success of any business. Building on what you described in the Target Market Research and Definition section, define the components of your strategy to market your product/service.
Describe any challenges, including barriers to entering the market. What potential problems do you foresee? How will you address them?
Explain why you have chosen to operate your business in the selected location. Are there cost savings involved in choosing this location? Does it bring you closer to your customer base?
What is your pricing strategy? Explain and provide clear evidence for why the pricing structure you selected will lead customers to buy your products/services and will, at the same time, result in a profit for your business and investors.
Describe your plan for promoting your new business, product, or service. Will you use print, radio, television, or social media? Will you hire a marketing manager?
Be sure to indicate the budget for your marketing strategy and where you will obtain the funding for this important aspect of your business. You may need to employ consultants or an advertising agency – be sure to include these costs.
HubSpot Tip: Consider including a few mockups of your logos, packaging, and even advertisements to give potential investors a preview of your company’s marketing materials.
Implementation Plan And Timeline
Describe the phases in which your business will be rolled out. Indicate which phase you are in currently, and how long it will take to bring your product/service to market.
Consider including a timeline like the one below to illustrate the steps in the process. Customize it with your dates and the specific steps for your business.
HubSpot Tip: While aiming to please potential investors, be sure to set reasonable deadlines that you are able to meet.
Financial Plan
Tell your potential investors the amount of funds you have received thus far and who provided them. How much more funding do you require?
Describe how you will use each part of the funding you are requesting. Investors often feel more comfortable if they know exactly how their money will be used.
Give readers a peek into your company’s projected financial future. Include the following as appendices, but describe them in this section:
• Cash flow projection – An estimate of how much money you expect to flow in and out of your business.
• Capitalization plan – Lists the sources and uses of capital that your business plans to amass.
• Break-even analysis – A determination of what you need to sell in order to cover the costs of doing business.
In addition to the above, you’ll need to include an income statement and balance sheet. Since these could be long and were likely developed in Excel or an accounting software, you should reference them here and include them in an appendix.
You will also want to explain any assumptions that you have made that affect your financial information. Later you will be able to point to these to explain why something may have turned out differently than expected.
HubSpot Tip: This is one of the most important sections of your business proposal. If you are not an expert in finance, be sure to seek assistance from someone who is.
In a few sentences, summarize the main point that you would like the reader to understand about your business. Aim to convince them that they should invest!
Describe the next steps, and give detailed contact information so that they can get in touch with you easily.
HubSpot Tip: This section should incite the reader to act. Make it easy for your potential investors by including in this section all of the information they need to move forward.
Include any supporting documents for the previous sections here. You can reference them in the text and use them to provide additional detail without breaking up the flow of your business plan text.
HubSpot Tip: Some items you could include are: marketing materials, maps of the business location, background research, articles that have been written about the company, and financial documents.
Frequently Asked Questions
How do i write a simple business plan, is this template free, can i edit this template, related tags:.
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