Posts by : Dave Lavinsky

Author / 287 Posts

Plant Nursery Business Plan Template

If you want to start a Plant Nursery business or expand your current Plant Nursery business, you need a business plan.

The following Plant Nursery business plan template gives you the key elements to include in a winning Plant Nursery business plan.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Plant Nursery business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Jewelry Business Plan Template

If you want to start a Jewelry business or expand your current Jewelry, you need a business plan.

The following Jewelry business plan template gives you the key elements to include in a winning Jewelry business plan.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Jewelry business plan:

Jewelry Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Physical Therapy Business Plan Template

If you want to start a Physical Therapy business or expand your current Physical Therapy business, you need a business plan.

The following Physical Therapy business plan template gives you the key elements to include in a winning Physical Therapy business plan.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Physical Therapy business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Non Medical Home Care Business Plan Template

If you want to start a non medical home care business or expand your current non medical home care business, you need a business plan.

The following Non Medical Home Care business plan template gives you the key elements to include in a winning Non Medical Home Care business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Non Medical Home Care business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Interior Design Business Plan Template

If you want to start an Interior Design business or expand your current Interior Design business, you need a business plan.

The following Interior Design business plan template gives you the key elements to include in a winning Interior Design business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of an example interior design business plan. Once you create your plan, download it to PDF to show banks and investors.

Interior Design Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Chiropractic Business Plan Template

If you want to start a Chiropractic business or expand your current Chiropractic business, you need a business plan.

The following Chiropractic business plan template gives you the key elements to include in a winning Chiropractic business plan.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Chiropractic business plan:

Chiropractic Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Handyman Business Plan Template

If you want to start a handyman business or expand your current handyman company, you need a business plan.

The following business plan template gives you the key elements to include in a winning Handyman business plan.

You can download our Handyman Business Plan Template (including a full, customizable financial model) to your computer here.

Example Business Plan For Handyman Businesses

Below are links to each of the key sections of a sample business plan for a successful handyman services business.

I. Executive Summary– The Executive Summary provides an overview of your new handyman business, unique value proposition, key objectives and business goals. It also summarizes all sections of your business plan.

II. Company Overview– The company analysis includes information about your business concept, handyman services and legal structure.

III. Industry Analysis– The industry analysis includes market research that supports your business and provides insights into market trends and the handyman industry.

IV. Customer Analysis– The market analysis provides an overview of your target market and customer segments.

You can download our business plan template (including a full, customizable financial model) to your computer here.

V. Competitive Analysis– The competitive analysis should identify your direct and indirect competitors and highlight your competitive advantage.

VI. Marketing Plan– The marketing plan includes your marketing strategy, sales strategy, pricing strategy and search engine optimization plan.

VII. Operations Plan– The Operations Plan includes information on your company’s day to day operations and processes.

VIII. Management Team– The management team section includes a profile of the business owner and business management, their experience and company responsibilities.

IX. Financial Plan– The financial plan includes financial projections, a cash flow statement, profit and loss statement and balance sheet.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Funeral Home Business Plan Template

If you want to start a Funeral Home or expand your current Funeral Home business, you need a business plan.

The following Funeral Home business plan template gives you the key elements for starting a funeral home business plan.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Funeral Home business plan:

Funeral Home Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Urgent Care Business Plan Template

If you want to start an Urgent Care business or expand your current Urgent Care center, you need a business plan.

The following Urgent Care business plan template gives you the key elements to include in a winning Urgent Care business plan.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Urgent Care business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Poultry Farm Business Plan Template

If you want to start a Poultry Farm or expand your current Poultry Farm, you need a business plan.

The following Poultry Farm business plan template gives you the key elements to include in a winning Poultry Farm business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Poultry Farm business plan:

Poultry Farm Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Event Planning Business Plan Template

If you want to start an Event Planning business or expand your current Event Planning or Event Management business, you need a business plan.

The following Event Planning business plan template gives you the key elements to include in a winning event planner business plan or event management business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a free Event Planning business plan template:

Event Business Plan Template
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Hotshot Trucking Business Plan Template

If you want to start a Hotshot Trucking business or expand your current Hotshot Trucking business, you need a business plan.

The following Hotshot Trucking business plan template gives you the key elements to include in a winning Hotshot Trucking business plan.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of an example hotshot trucking business plan. Once you create your plan, download it to PDF to show banks and investors.

I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Non-Emergency Medical Transportation Business Plan Template

If you want to start a Non-Emergency Medical Transportation business or expand your current NEMT business, you need a business plan.

The following Non-Emergency Medical Transportation business plan template gives you the key elements to include in a winning NEMT business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of an example non emergency medical transportation business plan. Once you create your plan, download it to PDF to show banks and investors.

I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Art Gallery Business Plan Template

If you want to start an art gallery or expand your current art gallery, you need a business plan.

The following art gallery business plan template gives you the key elements to include in a winning art gallery business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of an example art gallery business plan. Once you create your plan, download it to PDF to show banks and investors.

Art Gallery Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

HVAC Business Plan Template

If you want to start a HVAC business or expand your current HVAC company, you need a business plan.

The following HVAC business plan template gives you the key elements to include in a winning HVAC company business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Example Business Plan For HVAC Businesses


Below are links to each of the key sections of a sample business plan for a successful HVAC company.

I. Executive Summary– The Executive Summary provides an overview of your business opportunity and summarizes the business plan.

II. Company Overview– The company analysis includes information about your business concept, HVAC services and legal structure.

III. Industry Analysis– The industry analysis includes market research that supports your business and provides insights into market trends and the HVAC industry.

IV. Customer Analysis– The customer analysis provides an overview of your target market.

You can download our business plan template (including a full, customizable financial model) to your computer here.

V. Competitive Analysis– The competitive analysis should identify your direct and indirect competitors and highlight your competitive advantage.

VI. Marketing Plan– The marketing plan includes your marketing strategy, sales strategy and search engine optimization plan.

VII. Operations Plan– The Operations Plan includes information on your company’s day to day operations and processes.

VIII. Management Team– The management team section includes a profile of the business owner and business management, their experience and company responsibilities.

IX. Financial Plan– The financial plan includes financial projections, a cash flow statement, profit and loss statement and balance sheet.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Distribution Company Business Plan Template

If you want to start a distribution business or expand your current distribution business, you need a business plan.

The following Distribution Company business plan template gives you the key elements to include in a winning Distribution business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Distribution Company business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Horse Boarding Business Plan Template

If you want to start a horse boarding business or expand your current horse boarding business, you need a business plan.

The following Horse Boarding business plan template gives you the key elements to include in a winning Horse Boarding business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Horse Boarding business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Agricultural Business Plan Template

If you want to start an agricultural business or expand your current agricultural business, you need a business plan.

The following Agricultural business plan template gives you the key elements to include in a winning Agricultural business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Agricultural business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Esthetician Business Plan Template

If you want to start an esthetician business or expand your current esthetician business, you need a business plan.

The following Esthetician business plan template gives you the key elements to include in a winning Esthetician business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Esthetician business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Photography Business Plan Template

If you want to start a Photography business or expand your current Photography business, you need a business plan.

The following Photography business plan template gives you the key elements to include in a winning Photography business plan. It can be used to create a photographer business plan, a commercial photography business plan, or a photography studio business plan.

You can download the Photography business plan template (including a full, customizable financial model) to your computer here.

Photography Business Plan Example

Below are links to each of the key sections of a sample business plan template for a photography business:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Travel Agency Business Plan Template

If you want to start a Travel Agency business or expand your current Travel Agency, you need a business plan.

The following Travel Agency business plan template gives you the key elements to include in a winning Travel Agency business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections a business plan for a travel agency:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Spa Business Plan

If you want to start a spa business or expand your current spa, you need a business plan.

The following spa business plan template gives you the key elements to include in a winning spa business plan. It can be used to create a day spa business plan, or business plans for health and wellness spas, beauty spas and/or hotel spas.

You can download our Spa Business Plan Template (including a full, customizable financial model) to your computer here.

Spa Business Plan Example

Below are links to a sample of each of the key sections of a detailed spa business plan:

  1. Executive Summary – In the Executive Summary, you will provide an overview of your spa business plan. This is where you will describe your business, your spa services and/or products, your target market, and how you plan to succeed.
  2. Company Overview – In this section of your business plan, you will provide an overview of your company’s legal structure, ownership, history, and location. You will also describe your company’s mission statement and growth strategy.
  3. Industry Analysis – In this section of your business plan, you will conduct a thorough industry analysis. You will describe the spa industry, its size, growth rate, trends, and major players. You will also analyze your target market and describe your competition.
  4. Customer Analysis – In this section of your spa business plan, you will describe your target customer. You will define your target customers by geographic location, demographics, psychographics, and behavior.
  5. You can download our Spa Business Plan Template (including a full, customizable financial model) to your computer here.

  6. Competitive Analysis – In the Competitive Analysis, you will describe your competition. You will identify your local competitors by name, location, and size. You will also describe their spa services and/or products and services, pricing, marketing, and distribution channels.
  7. Marketing Plan – In the Marketing Plan section of your business plan, you will describe your marketing strategy using the 4 Ps of marketing: product, price, place, and promotion.
  8. Operations Plan – In the Operations Plan section of your business plan, you will describe your business’s physical location, facilities, and equipment. You will also describe your production process, including your procedures for quality control.
  9. Management Team – In this section of your spa business plan, you will describe your management structure and members. You will include the bios of your executive team, your board of directors, and/or your advisory board.
  10. Financial Plan – In the Financial Plan section of your business plan, you will provide an overview of your company’s financial projections. This will include your pro forma income statement, balance sheet, and cash flow statement.

You can download our Spa Business Plan Template (including a full, customizable financial model) to your computer here.

Farm Business Plan

If you want to start a farm or agricultural business or expand your current farming business, you need a business plan.

The following farm business plan template gives you the key elements to include in a good farm business plan. In addition to this template, a successful farm business plan will also include market research to help you better understand the agriculture industry, market trends, and how to craft your mission statement, marketing plan and complete financial projections.

You can download our Farm Business Plan Template (including a full, customizable financial model) to your computer here.

Example Business Plan For Farm Businesses

Below are links to each of the key sections of a sample agricultural business plan for successful farms:

  1. Executive Summary – The executive summary provides an overview of your business opportunity and summarizes the business plan.
  2. Company Overview – The company analysis includes information about your farm business, its mission statement, its products and services, and legal structure.
  3. Industry Analysis – The industry analysis includes market research that supports your business and provides insights into industry trends within the agricultural industry and any government regulations.
  4. Customer Analysis – The customer analysis provides an overview of your target audience including demographics and purchasing habits.
  5. You can download our Farm Business Plan Template (including a full, customizable financial model) to your computer here.

  6. Competitive Analysis – The competitive analysis should identify your direct and indirect competitors and highlight your competitive advantage.
  7. Marketing Plan – The marketing plan includes your marketing strategy, pricing strategy and scheduling events to sell your products including farmers’ markets.
  8. Operations Plan – The operations plan includes information on your company’s day to day operations and processes including necessary farm equipment, expected operating expenses, and long-term goals.
  9. Management Team – The management team section includes a profile of the farm owners and other business owners, their farm management experience and responsibilities.
  10. Financial Plan – The financial plan includes financial statements including a cash flow statement, profit and loss statement and balance sheet.

You can download our Farm Business Plan Template (including a full, customizable financial model) to your computer here.

Catering Business Plan Template

If you want to start a Catering business or expand your current Catering business, you need a business plan.

You can download the Catering business plan template (including a full, customizable financial model) to your computer here.

The following catering business plan template gives you the key elements to include in a winning plan for your own catering company. In addition to this template, conducting market research for your local customer base will help you identify potential market trends and customer segments to better understand the viability of your catering business.

Sample Business Plan For a Catering Company

Below are links to each of the key sections of a sample business plan for a successful catering business.

I. Executive Summary– The Executive Summary provides an overview of your business opportunity and summarizes the business plan.

II. Company Overview– The company analysis includes information about your business concept, catering services and legal structure.

III. Industry Analysis– The industry analysis includes market research that supports your business and provides insights into market trends and the catering industry.

IV. Customer Analysis– The customer analysis provides an overview of your target market.

You can download the Catering business plan template (including a full, customizable financial model) to your computer here.

V. Competitive Analysis– The competitive analysis should identify your direct and indirect competitors and highlight your competitive advantage.

VI. Marketing Plan– The marketing plan includes your marketing strategy, pricing strategy and search engine optimization plan.

VII. Operations Plan– The Operations Plan includes information on your company’s day to day operations and processes.

VIII. Management Team– The management team section includes a profile of the business owner and business management, their experience and company responsibilities.

IX. Financial Plan– The financial plan includes financial projections, a cash flow statement, profit and loss statement and balance sheet.

Download the Catering business plan template (including a full, customizable financial model) to your computer here.

Clothing Line Business Plan Template

If you want to start a Clothing Line business or expand your current Clothing Line, you need a business plan.

The following Clothing Line business plan template gives you the key elements to include in a winning clothing brand business plan.

You can download the Clothing Line business plan template (including a full, customizable financial model) to your computer here.

Clothing Brand Business Plan Template

Below are links to each of the key sections of a business plan for your clothing line:

I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Gym Business Plan

If you want to start a gym or fitness center or expand your current gym business, you need a business plan.

The following sample fitness center business plan gives you the key elements to include in a winning business plan for a gym.

You can download our Gym Business Plan Template (including a full, customizable financial model) to your computer here.

Gym Business Plan Example

Below are links to each of the key sections of a solid gym business plan:

  1. Executive Summary – The executive summary is a brief overview of your gym, including your company’s mission statement, target market, objectives, and goals. If you are seeking potential investors, it is important to make a good first impression with this section.
  2. Company Overview – The company overview provides an overview of your company, including its history, legal structure, business model, and ownership structure.
  3. Industry Analysis – Conducting an industry analysis is critical to understanding the market opportunity for your business. This section should include a description of the fitness industry, its size, growth potential, and key players.
  4. Customer Analysis – This section of your fitness business plan should describe your target customers, including their demographics, needs, and fitness habits.
  5. Download our Gym Business Plan Template and learn how to start a gym business plan.

  6. Competitive Analysis – Conducting a competitive analysis is essential to understanding the landscape of the market you are entering. This section should include an overview of your direct and indirect competitors, their market share, their strengths and weaknesses, along with your competitive advantage and unique selling point.
  7. Marketing Plan – Your marketing plan should describe the marketing strategies you plan to use for reaching your target audience. This section should include your pricing strategy, membership fees, advertising and promotional strategies.
  8. Operations Plan – In the operations plan, you should describe your fitness center, exercise equipment and fitness classes, as well as your personal trainers and their qualifications.
  9. Management Team – This section of your gym business plan should describe the experience and qualifications of your management team.
  10. Financial Plan – The financial plan should include your financial projections (income statement, balance sheet and cash flow statement), as well as how you plan to secure funding such as bank loans.

You can download our Gym Business Plan Template (including a full, customizable financial model) to your computer here.

Screen Printing Business Plan Template

If you want to start a Screen Printing business or expand your current Screen Printing business, you need a business plan.

The following Screen Printing Company business plan template gives you the key elements to include in a winning Screen Printing business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Screen Printing business plan:

Screenprinting Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Bubble Tea Business Plan Template

If you want to start a bubble tea shop or expand your current bubble tea store, you need a business plan.

The following Bubble Tea business plan template gives you the key elements to include in a winning Bubble Tea business plan. In addition to this template, a solid plan will also include market research to help you better understand the bubble tea market, your competitive advantage and your specific target market. It will also help you craft your bubble tea marketing plan and a strong financial plan.

You can download our Ultimate Business Plan Template (including a full, customizable financial model) to your computer here.

Bubble Tea Business Plan Example

Below are links to each of the key sections to help you craft your own Bubble Tea business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Remodeling Business Plan Template

If you want to start a remodeling company or expand your current remodeling services, you need a business plan.

The following remodeling business plan template gives you the key elements to include in a winning plan. Successful business plans will also include market research, which will help you better understand the remodeling industry, trends, and your target market. It will also help you understand your potential competitive advantage, as well as craft your marketing plan and financial plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a sample business plan for remodeling businesses:
I. Executive Summary– The Executive Summary provides a brief overview of your remodeling company.

II. Company Overview– Here you should provide a detailed overview of your business including your legal structure, business model and product & service offering.

III. Industry Analysis– This section will provide insights into the remodeling industry.

IV. Customer Analysis– The Customer Analysis section will provide an overview of your target customers.

V. Competitive Analysis– Here you will identify your main competitors and highlight your competitive advantage.

VI. Marketing Plan– This section includes your marketing and sales plan, promotional strategies and advertising tactics.

VII. Operations Plan– The Operations Plan section will include information on your business systems and processes.

VIII. Management Team– This section includes your team’s experience, qualifications, and responsibilities.

IX. Financial Plan– This includes your financial projections, including a cash flow statement, profit and loss statement and balance sheet.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Cookie Business Plan Template

If you want to start a Cookie business or expand your current Cookie business, you need a business plan.

The following Cookie business plan template gives you the key elements to include in a winning Cookie business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a cookie shop business plan sample:

I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan


Click below to see each section of our free cookie business plan template. You can also click here to get our cookie business plan pdf.

Mental Health Private Practice Business Plan Template

If you want to start a mental health practice or expand your current practice, you need a business plan.

The following Mental Health Private Practice business plan template gives you the key elements to include in a winning business plan. In addition to this template, a solid plan will also include market research to help you better understand market trends, your competitive advantage and your target customers. It will also help you craft your mission statement, marketing plan and strong financial projections.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a sample business plan to help you create your own business plan for your mental health practice, counseling private practice, family counseling or therapist business:

I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Cat Cafe Business Plan Template

If you want to start a cat cafe business or expand your current cat cafe business, you need a business plan.

The following Cat Cafe business plan template gives you the key elements to include in a winning Cat Cafe business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Cat Cafe business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Gaming Lounge Business Plan Template

If you want to start a gaming lounge business or expand your current gaming lounge business, you need a business plan.

The following Gaming Lounge business plan template gives you the key elements to include in a winning Gaming Lounge business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Gaming Lounge business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Arcade Business Plan Template

If you want to start an arcade business or expand your current arcade business, you need a business plan.

The following Arcade business plan template gives you the key elements to include in a winning Arcade business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Arcade business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Logistics Business Plan Template

If you want to start a logistics business or expand your current logistics business, you need a business plan.

The following Logistics business plan template gives you the key elements to include in a winning Logistics business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Logistics Business Plan Example

I. Executive Summary

Business Overview

[Company Name] is a new logistics company located in [location]. Our company aims to provide regional businesses with all their logistics needs. Some of the services we provide include warehousing, fulfillment, and shipping. We are open to serving any businesses within a 100-mile radius of [location], but primarily expect to work with the healthcare, agribusiness, and food and beverage industries.

Services

[Company Name] will provide numerous logistics services to retailers and businesses located within 100 miles of [location]. Some of these services include:

  • Warehousing
  • Inventory
  • Order fulfillment and packaging
  • Shipping and transportation services
  • 24/7 customer service support

Customer Focus

[Company Name] will primarily service businesses within 100 miles of [location]. Their potential customers are the approximately 100,000 businesses and manufacturers within this region, giving us a large customer base to work with. Though we are open to working with most businesses, some of the industries we expect to serve the most include:

  • Healthcare
  • Agribusiness
  • Chemical and Energy
  • Food and Beverage
  • Technology

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Management Team

[Company Name] is headed by [Founder’s Name], who graduated from [University] with a degree in Business Administration. Prior to starting [Company Name], [Founder’s Name] worked as an operations manager at a freight logistics company for [X] years, where he was able to learn all aspects of the industry, including the operations (e.g., running day-to-day operations) and management (e.g., staffing, marketing, etc.) sides. His experience will be invaluable to the business.

Success Factors

[Company Name] is uniquely qualified to succeed for the following reasons:

  • [Company Name] will focus primarily on the local region (about a 100-mile radius from [location]), which is currently underserved.
  • We surveyed the target market and received extremely positive feedback saying that they explicitly want to make use of our services when launched.
  • The U.S. has a robust business environment with a large number of businesses needing logistics services like ours.
  • The management team has a track record of success in the logistics services industry.

Financial Highlights

[Company Name] is currently seeking $1,000,000 to launch. Specifically, these funds will be used as follows:

  • Warehouse design/build: $500,000
  • Vehicle purchase and maintenance: $200,000
  • Equipment and supplies: $150,000
  • Working capital: $150,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

Financial SummaryFY 1FY 2FY 3FY 4FY 5
Revenue$560,401 $782,152 $1,069,331 $1,379,434 $1,699,644
Total Expenses$328,233 $391,429 $552,149 $696,577 $776,687
EBITDA$232,168 $390,722 $517,182 $682,858 $922,956
Depreciation$7,000 $7,000 $7,000 $7,000 $7,000
EBIT$225,168 $383,722 $510,182 $675,858 $915,956
Interest$6,016 $5,264 $4,512 $3,760 $3,008
Pre Tax Income$219,152 $378,458 $505,670 $672,098 $912,948
Income Tax Expense$76,703 $132,460 $176,985 $235,234 $319,532
Net Income$142,449 $245,998 $328,686 $436,864 $593,416
Net Profit Margin25%31%31%32%35%


II. Company Overview

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Who is [Company Name]?

[Company Name] is a new logistics company located in [location]. We provide a wide range of essential logistics services, including warehousing, inventory management, and transportation. We are open to serving any businesses within a 100-mile radius of [location], but primarily expect to work with the healthcare, agribusiness, and food and beverage industries.

[Company Name] is headed by its founder, [Founder’s Name], who worked as an operations manager at a freight logistics company for [X] years. During his career, he was able to learn the ins and outs of the logistics industry, including the operations and management sides. Throughout his career, he noticed that the local region was underserved by other logistics companies. He aims to fill this gap by creating a more regional logistics business that serves local businesses.

[Company Name]’s History

[Founder’s Name] incorporated [Company Name] as an S-Corporation on [date of incorporation].

Upon incorporation, [Company Name] was able to achieve the following milestones:

  • Found a business location and signed a Letter of Intent to lease it
  • Developed the company’s name, logo, and website located at [website]
  • Established the company as a limited liability company (LLC)
  • Determined equipment and fixture requirements
  • Began recruiting key employees

[Company Name]’s Products/Services

[Company Name] will provide numerous logistics services to retailers and businesses located within 100 miles of [location]. Some of these services include:

  • Warehousing
  • Inventory
  • Supply chain management
  • Order fulfillment and packaging
  • Shipping and transportation services


III. Industry Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

The logistics industry has never been in higher demand. The pandemic has brought about a supply chain crisis, with retail establishments, grocery stores, restaurants, and many other industries still struggling to keep their inventory in stock and fulfill orders quickly. Due to market trends and the supply chain issues of the past few years, millions of people now realize the importance of having a good logistics team to help out their businesses. Therefore, it has never been a better or more crucial time to build a logistics business.

The logistics industry is enormous. According to Allied Market Research, the industry is projected to reach just under $13 billion in the next five years. Furthermore, the industry will see a compound annual growth rate of 6.5% during that time. And with the global supply chain issues, the demand for good logistics and improved supply chain services will not falter anytime soon.


IV. Customer Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Demographic Profile of Target Market

[Company Name] will serve the local businesses and industries located within a 100-mile radius of [location]. The area is home to more than 100,000 businesses but is still relatively underserved when it comes to logistics services.

Customer Segmentation

Though we are open to working with most businesses and industries, our market analysis shows that we will primarily work with the following segments:

  • Healthcare industry: [Location] is home to one of the best healthcare systems in the country. Local hospitals currently depend on other logistics companies that are not local and do not cater to their unique needs. They require special handling of their materials and quick delivery to get essential products for testing and procedures. We can easily provide the local healthcare industry with these services.
  • Agribusiness: [Location] consists of a large agribusiness that is essential to the nation’s food supply. This industry needs proper storage for food and equipment and quick shipping to prevent spoilage. Since this is such an important industry, we will work closely with local agribusinesses to provide them with all their logistics needs.
  • Food and beverage industry: [Company Name] will also offer storage space and refrigeration to carry perishable and non-perishable food items for local food and beverage businesses.


V. Competitive Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Direct & Indirect Competitors

The following logistics businesses offer extensive logistics services nationwide and therefore provide either direct or indirect competition to our business:

Mountainside Logistics
Mountainside Logistics serves the logistics needs of specific industries located in or near [location]. They provide warehousing, inventory management, and local shipping services. They also provide 24/7 customer service and aim to create long-lasting relationships with their customers.

Though Mountainside Logistics serves a similar demographic, they only work with a few industries: healthcare, chemical and energy, and technology. Since the only industry we compete for significantly is healthcare, we will still get significant business from industries they don’t serve.

Logistics USA
Logistics USA has been in the industry for [X] years, catering to various industries and businesses. They provide logistics services for numerous nationwide and local businesses, dominating a good chunk of the market. Some of the services they provide include warehousing, inventory management, same-day delivery, and international shipping.

Though Logistics USA is a large national competitor, many local businesses are looking for a more regional touch. They feel left behind and unvalued because they are smaller clients. We will work hard to develop long-lasting relationships with our customers so that they never feel unvalued.

Fulfill and Deliver Inc.
Fulfill and Deliver Inc. is one of the leading logistics providers in the country. They offer all the logistics services a business could need, from order fulfillment and inventory management to expedited shipping and delivery. For decades, Fulfill and Deliver Inc. has been the dominating logistics company, loved for its convenience and national presence.

Though they are a giant in the logistics industry, they are often criticized for a lack of customer service. Local businesses looking for a more personal and regional touch will be eager to switch to [Company Name].

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

  • Location: [Company Name]’s business is local and will cater to regional businesses.
  • Client-oriented service: [Company Name] will have 24/7 customer service and a strong sales team to fully cater to our clients needs.
  • Management: [Founder’s Name] has been extremely successful working in the industry and will be able to use his previous experience to provide the best sales and customer service experience. His unique qualifications will serve customers in a much more sophisticated manner than [Company Name]’s competitors.
  • Relationships: [Founder’s Name] knows many of the local leaders, business managers, and other influencers within [location]. With his [X] years of experience and good relationships with business leaders in the area, he will be able to develop an initial client base.


VI. Marketing Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

The [Company Name] Brand

The [Company Name] brand will focus on the Company’s unique value proposition:

  • Client-focused logistics services that treat each client individually and get the job done right the first time
  • Service built on long-term relationships
  • Thorough knowledge of our clients and their varying needs

Promotions Strategy

[Company Name] expects its target customers to be businesses operating within 100 miles of [location]. [The Company’s] marketing strategy to reach these businesses includes:

Website and Search Engine Optimization
[Company Name] will develop a professional website that showcases pictures of the warehouse and the services we provide. It will also invest in SEO so that the company’s website will appear at the top of search engine results.

Social Media
[Founder’s Name] will create the company’s social media accounts and invest in ads on all social media platforms. The company will use a targeted marketing strategy to appeal to our target demographics.

Publications
[Company Name] will announce its product launching several weeks in advance through publicity pieces in multiple newspapers and publications. Regular advertisements will run to maintain exposure to relevant markets.

Commuter Advertising
We will drive attention toward [Company Name] by renting billboard ad spaces along routes or highways that hold heavy traffic. Advertising on heavily traveled commute routes is an opportunity to alert large numbers of businesses of our opening.

Client Referral Programs
[Company Name] will create an aggressive client referral program that gives discounts to existing clients for every successful referral.

Direct Mail
[Company Name] will blanket businesses with direct mail pieces. These pieces will provide general information on [Company Name], offer discounts and/or provide other enticements for people to use our services.

Pricing Strategy

[Company Name]’s pricing will be moderate, so customers feel they receive great value when working with us. Our customers can expect to receive quality services at a more affordable price than what they pay for larger logistics providers.


VII. Operations Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Functional Roles

In order to execute [Company Name]’s business model, the company needs to perform many functions, including the following:

Administrative Functions

  • Bookkeeping
  • Marketing
  • Website and social media maintenance
  • Provide customer service
  • Hiring and training staff
  • General maintenance functions

Inventory and Warehouse Functions

  • Stock and organize products
  • Fulfill and package incoming orders
  • Count inventory often for accuracy

Transportation Functions

  • Schedule deliveries and map out routes
  • Load and unload trucks
  • Deliver products to destinations
  • Provide excellent customer service

Milestones

The following are a series of steps that lead to our vision of long-term success. [Company Name] expects to achieve the following milestones in the following [xyz] months:

DateMilestone
[Date 1]Finalize lease agreement
[Date 2]Design and build out [Company Name]
[Date 3]Hire and train initial staff
[Date 4]Kickoff of promotional campaign
[Date 5]Launch [Company Name]
[Date 6]Reach break-even


VIII. Management Team

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Management Team Members

[Company Name] is headed by [Founder’s Name], who graduated from [University] with a degree in Business Administration. Prior to starting [Company Name], [Founder’s Name] worked as an operations manager at a freight logistics company for [X] years, where he was able to learn all aspects of the industry, including the operations (e.g., running day-to-day operations) and management (e.g., staffing, marketing, etc.) sides. His experience will be invaluable to the business.

Hiring Plan

[Founder’s Name] will serve as the Chief Executive Officer of the company. In order to launch, it needs to hire the following personnel:

  • Warehouse Manager
  • Inventory Manager
  • Administrative Assistants (2 to start)
  • Chief Finance Officer
  • Head of Marketing
  • Transport Manager
  • Drivers (6 to start)
  • Inventory Associates (6 to start)
  • Sales Representatives (3 to start)


IX. Financial Projections Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Revenue and Cost Drivers

[Company Name]’s revenues will come primarily from the warehouse and transportation fees charged to our customers.

The major costs will consist of salaries, vehicle maintenance costs, and ongoing marketing expenditures.

Capital Requirements and Use of Funds

[Company Name] is currently seeking $1,000,000 to launch. Specifically, these funds will be used as follows:

  • Warehouse design/build: $500,000
  • Vehicle purchase and maintenance: $200,000
  • Equipment and supplies: $150,000
  • Working capital: $150,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Key Assumptions

The following table reflects the key revenue and cost assumptions made in the financial model:

Number of client contractsAnnually
FY 140
FY 245
FY 355
FY 465
FY 570
Average Commission70%
Annual Lease ( per location)$50,000

 
5 Year Annual Income Statement

Year 1Year 2Year 3Year 4Year 5
Revenues
Product/Service A$151,200 $333,396 $367,569 $405,245 $446,783
Product/Service B$100,800 $222,264 $245,046 $270,163 $297,855
Total Revenues$252,000 $555,660 $612,615 $675,408 $744,638
Expenses & Costs
Cost of goods sold$57,960 $122,245 $122,523 $128,328 $134,035
Lease$60,000 $61,500 $63,038 $64,613 $66,229
Marketing$20,000 $25,000 $25,000 $25,000 $25,000
Salaries$133,890 $204,030 $224,943 $236,190 $248,000
Other Expenses$3,500 $4,000 $4,500 $5,000 $5,500
Total Expenses & Costs$271,850 $412,775 $435,504 $454,131 $473,263
EBITDA($19,850)$142,885 $177,112 $221,277 $271,374
Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
EBIT($56,810)$105,925 $140,152 $184,317 $234,414
Interest$23,621 $20,668 $17,716 $14,763 $11,810
PRETAX INCOME($80,431)$85,257 $122,436 $169,554 $222,604
Net Operating Loss($80,431)($80,431)$0$0$0
Income Tax Expense$0$1,689 $42,853 $59,344 $77,911
NET INCOME($80,431)$83,568 $79,583 $110,210 $144,693
Net Profit Margin (%)-15.00%13.00%16.30%19.40%

 
5 Year Annual Balance Sheet

Year 1Year 2Year 3Year 4Year 5
ASSETS
Cash$16,710 $90,188 $158,957 $258,570 $392,389
Accounts receivable$0$0$0$0$0
Inventory$21,000 $23,153 $25,526 $28,142 $31,027
Total Current Assets$37,710 $113,340 $184,482 $286,712 $423,416
Fixed assets$246,450 $246,450 $246,450 $246,450 $246,450
Depreciation$36,960 $73,920 $110,880 $147,840 $184,800
Net fixed assets$209,490 $172,530 $135,570 $98,610 $61,650
TOTAL ASSETS$247,200 $285,870 $320,052 $385,322 $485,066
LIABILITIES & EQUITY
Debt$317,971 $272,546 $227,122 $181,698 $136,273
Accounts payable$9,660 $10,187 $10,210 $10,694 $11,170
Total Liabilities$327,631 $282,733 $237,332 $192,391 $147,443
Share Capital$0$0$0$0$0
Retained earnings($80,431)$3,137 $82,720 $192,930 $337,623
Total Equity($80,431)$3,137 $82,720 $192,930 $337,623
TOTAL LIABILITIES & EQUITY$247,200 $285,870 $320,052 $385,322 $485,066

 
5 Year Annual Cash Flow Statement

Year 1Year 2Year 3Year 4Year 5
CASH FLOW FROM OPERATIONS
Net Income (Loss)($80,431)$83,568 $79,583 $110,210 $144,693
Change in working capital($11,340)($1,625)($2,350)($2,133)($2,409)
Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
Net Cash Flow from Operations($54,811)$118,902 $114,193 $145,037 $179,244
CASH FLOW FROM INVESTMENTS
Investment($246,450)$0$0$0$0
Net Cash Flow from Investments($246,450)$0$0$0$0
CASH FLOW FROM FINANCING
Cash from equity$0$0$0$0$0
Cash from debt$317,971 ($45,424)($45,424)($45,424)($45,424)
Net Cash Flow from Financing$317,971 ($45,424)($45,424)($45,424)($45,424)
SUMMARY
Net Cash Flow$16,710 $73,478 $68,769 $99,613 $133,819
Cash at Beginning of Period$0$16,710 $90,188 $158,957 $258,570
Cash at End of Period$16,710 $90,188 $158,957 $258,570 $392,389

 

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

 

Tattoo Shop Business Plan Template

If you want to start a Tattoo Shop or expand your current Tattoo Shop, you need a business plan.

The following Tattoo Shop business plan template gives you the key elements to include in a winning Tattoo Shop business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.


Tattoo Shop Business Plan Template

I. Executive Summary

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Business Overview

[Company Name] is a tattoo shop in [insert location here] that focuses on providing high-quality tattoo services to the surrounding community. The Company offers world-class, custom tattoos in a relaxed, friendly, and safe environment. The Company strives to ensure that its customers get the tattoo they want, whether in greyscale or colored, traditional or new school, cartoons or photo-realism, cover-ups or reworks.

Products Served

The Company will provide the following services to its customers:

  • Designing customized tattoos
  • Predesigning tattoos
  • Maintenance and aftercare tattoo services
  • Administering permanent makeup tattoos
  • Laser tattoo removal services
  • Other related consulting and advisory services

Customer Focus

[Company Name] will primarily offer its service to the residents living within a 5-mile radius of the business location. The demographics of the customers are as given below:

  • Female residents: 27,394
  • Male residents: 16,345
  • Average Income: $45,800
  • Median Age: 30 years

Management Team

[Company Name] is led by [Founder’s name], who has been in the tattoo industry for [x] years. During his apprenticeship in the tattoo industry, he acquired an in-depth knowledge of tattoo designing and is well aware of all health regulations related to this precarious work. Additionally, he worked in a tattoo shop alongside a professional tattooist, learning how to manage and run a tattoo business before starting [Company name].

Success Factors

[Company Name] is qualified to succeed due to the following reasons:

  • There is currently a high demand for tattoo services in the community. In addition, the company surveyed the local population and received highly positive feedback pointing towards an explicit demand for the products, supporting the business after launch.
  • The Company’s location is in a high-volume traffic area and will thus be highly convenient for a significant number of youngsters visiting nearby.
  • The management team has a track record of success in the tattoo business.
  • The upscale tattoo business is a proven business and has succeeded in communities throughout the United States.
  • Market trends such as being worn by public figures like celebrities, athletes, and people within the fashion industry reflect that tattoos have become more and more popular.

Financial Highlights

[Company Name] is currently seeking $370,000 to launch its tattoo shop. Specifically, these funds will be used as follows:

  • Store design/build: $250,000
  • Working capital: $120,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

The following graph outlines the pro forma financial projections for [Company Name] over the next five years:

Financial SummaryYear 1Year 2Year 3Year 4Year 5
Revenue$965,742 $1,878,611 $2,718,300 $3,477,900 $4,285,228
Total Expenses$390,241 $630,018 $931,935 $1,171,906 $1,429,992
EBITDA$575,501 $1,248,593 $1,786,365 $2,305,994 $2,855,237
Depreciation$8,720 $8,720 $8,720 $8,720 $8,720
EBIT$566,781 $1,239,873 $1,777,645 $2,297,274 $2,846,517
Interest$5,077 $4,442 $3,807 $3,173 $2,538
PreTax Income$561,705 $1,235,431 $1,773,838 $2,294,101 $2,843,978
Income Tax Expense$196,597 $432,401 $620,843 $802,935 $995,392
Net Income$365,108 $803,030 $1,152,995 $1,491,166 $1,848,586
Net Profit Margin38%43%42%43%43%


II. Company Overview

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Who is [Company Name]?

[Company Name], located at [insert location here], is a new, upscale tattoo shop focusing on providing professional tattoo services to the local community in a modern environment. It will showcase a well-designed interior as well as a full-featured waiting area where customers can expect to feel at home in this creative, judgment-free, and welcoming environment.

The Company’s primary service includes designing customized tattoos. Customers can either provide a picture of what they want or can communicate their requirements. They can also choose a design from the catalogue of tattoo designs comprising traditional, neo-traditional, realistic, watercolor, Japanese, tribal, and blackwork tattoos. It will also provide tattoo aftercare and maintenance services along with consultation and advice on how to take care of tattoos.

[Company Name] will select artists from a pool of certified, creative, and highly experienced tattooists in and around [insert location here] and the surrounding area. The Company will ensure that they hold themselves accountable to the highest standards by meeting the client’s needs precisely and completely.

[Company Name]’s History

[Founder’s Name] is an entrepreneur with a passion for tattoos who seeks to provide a pleasant and convenient tattoo experience to the community by offering a wide selection of tattoos for everyone in one place. [Company Name] will become a known tattoo shop in [Location], offering a complete tattoo service experience.

Upon surveying the local customer base and finding the potential retail location, [Founder’s Name] incorporated [Company Name] as an S-Corporation on [date of incorporation].

[Founder’s Name] has selected an initial location and is currently undergoing due diligence on each property and the local market to assess the most desirable location for the tattoo shop.

Since incorporation, the company has achieved the following milestones:

  • Found office space and signed Letter of Intent to lease it
  • Developed the company’s name, logo, and website
  • Created the list of tattoo designs
  • Determined equipment and inventory requirements
  • Began recruiting key employees with experience in the tattoo industry

[Company Name]’s Products/Services

The Company provides the following tattoo services:

  • Designing customized tattoos
  • Predesigning tattoos
  • Maintaining aftercare tattoo services
  • Administering permanent makeup tattoos
  • Laser tattoo removal services
  • Other related consulting and advisory services


III. Industry Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

[Company Name] competes against small, individually owned tattoo shops and major regional or national chains. There are 29,235 Tattoo Artists businesses in the US, an increase of 6.2% from last year. The tattoo industry generates an estimated $1.7 billion in revenue. Tattoos and body art in the U.S. have soared in popularity lately, especially amongst Millennials, fueling an industry comprised of 20,000 tattoo parlors or studios. The industry, which also includes body piercing and tattoo removal, is estimated to be worth $3 billion and is growing strongly.

The Tattoo Artists industry has exhibited growth over the last five years, partially due to the popular culture, which includes tattoo-related reality television programs, which have made tattoos less cultural taboo. In addition, individuals have continued to demand customized tattoos with intricate designs rather than predesigned tattoos.

Going forward, the tattoo artists industry will continue to grow, as the US population will likely become increasingly tattooed. Also, cultural and religious taboos surrounding tattoos and people having tattoos on their bodies have increasingly faded, leading to strong growth in demand for tattoo artists.

Lastly, it is becoming a trend from finding tattooists or tattoo studios, stepping up their designs to 3D, and going beyond having a tattoo design catalog to leveraging social media platforms such as Instagram, Facebook, Twitter, and YouTube, etc., to display their tattoo designs.


IV. Customer Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Demographic Profile of Target Market

[Company Name] will serve the residents of [company location] and its surrounding areas.
The area it will serve is populated mostly by moderate to affluent people; as a result, they have the means to pay for higher quality service.

The precise demographics of the town in which our retail location resides is as follows:

SpringdaleWyndham
Total Population26,09710,725
Square Miles6.893.96
Population Density3,789.202,710.80
Population Male48.04%48.84%
Population Female51.96%51.16%
Target Population by Age Group
Age 18-243.68%3.52%
Age 25-345.22%4.50%
Age 35-4413.80%13.91%
Age 45-5418.09%18.22%
Target Population by Income
Income $50,000 to $74,99911.16%6.00%
Income $75,000 to $99,99910.91%4.41%
Income $100,000 to $124,9999.07%6.40%
Income $125,000 to $149,9999.95%8.02%
Income $150,000 to $199,99912.20%11.11%
Income $200,000 and Over32.48%54.99%

Customer Segmentation

The Company will primarily target the following three customer segments:

  • High-Income Individuals: The Company will attract people with high-incomes who are conscious about fashion trends and have the disposable income to spend on tattoos.
  • Young People: The town has a large population of active young people who seek tattoo services. There are multiple high schools and colleges located in the surrounding area. According to a study published in the U.S. National Library of Medicine, 69 percent of students polled obtain a tattoo and/or body piercing between the ages of 18 and 22 while in college.
  • Celebrities / Public Figures: The Company will also reach out to a number of celebrities and public figures who use tattoos as a means of self-expression. Some famous figures have ink that’s inspired by their past or to pay tribute to a loved one, making the body art very meaningful to the individual. [Company name] can anticipate a significant increase in business as a result of such public figures’ tattoo service needs.


V. Competitive Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Direct & Indirect Competitors

Tattoo Art
Tattoo Art is one of the popular tattoo shops in town and has been in business for xx years. Tattoo Art offers a wide array of services that one would expect from a tattoo shop.
Besides offering tattoo services, Tattoo Art also offers body piercing services. The belief that customer satisfaction is as important as their products and services has helped Tattoo Art garner a vast base of customers, which continues to grow by the day. Tattoo Art generally has low and medium-priced options for each type of tattoo design. However, they do not provide at least 50% of the high-end tattoo styles that [Company Name] plans to carry.

Body Ink
Body Ink provides its customers with thousands of tattoos and tattoo designs that they can browse from the comfort of their homes. Customers are able to browse through their vast database of tattoos and tattoo designs from one central location. Body Ink categorizes designs to make it easy to find what its customers are looking for. However, Body Ink’s search result layout is sensory overloaded as all the images load, and it feels like minimal organization.

Classic Tattoo
Classic Tattoo was established in [xx]. It has a solid reputation for treating its clients right. Classic Tattoo’s current location is in [location], which is filled with restaurants, pubs, salons, and barbershops. Classic Tattoo caters to a high-end clientele looking to be tattooed by innovative artists in a more serene setting than that of the normal bustling tattoo shop.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

  • Management: The Company’s management team has xx years of business and marketing experience that allows them to market and serve customers in an improved and sophisticated manner than the competitors.
  • Relationships: Having lived in the community for xx years, [Founder’s Name] knows all of the local leaders, newspapers, and other influencers. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.
  • Great service at an affordable price: The complete array of tattoo services offered by [Company Name] nearly equals the most premium positioned competitor, [Competitor Name]. However, [Company Name] will offer these services at a much more affordable price.
  • Location: [Company Name]’s location is near the center of town, giving the company access to people going to and leaving the colleges, clubs, bars, and passersby shopping in the city.


VI. Marketing Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

The [Company Name] Brand

[Company name] seeks to position itself as a respectable, upper-middle-market competitor in the tattoo industry. Customers can expect to receive professional tattoo services from skilled tattoo artists for a price somewhere between discount chains and luxury establishments.
The [Company Name] brand will focus on the company’s unique value proposition:

  • Offering a wide collection of tattoos designed for men and women
  • Convenient location
  • Comfortable, customer-focused environment
  • Moderate price point
  • Providing excellent customer service

Promotions Strategy

[Company Name] expects its target market to be residents living within a 5-mile radius of the location. The Company’s promotions strategy to reach the audience includes:

Pre-Opening Events
Before opening the tattoo shop, [Company Name] will organize pre-opening events designed for prospective customers, local merchants and press contacts. These events will create buzz, and awareness for [Company Name] in the area.

Advertisement
Advertisements in print publications like newspapers, magazines, etc., are an excellent way for businesses to connect with their audience. The Company will advertise its products in popular magazines and news dailies. Obtaining relevant placements in industry magazines and journals will also help in increasing brand visibility.

Public Relations
[Company Name] will hire an experienced PR agency/professional(s) to formulate a compelling PR campaign to boost its brand visibility among the target audience. It will look to garner stories about the company and its offerings in various media outlets like newspapers, podcasts, television stations, radio shows, etc.

Local Publications
[Company name] will announce its opening several weeks in advance through publicity pieces in multiple local newspapers and publications. It will run regular advertisements to maintain exposure to relevant markets. Community newspapers, college publications, fashion programs, and similar channels will be a major promotion effort.

Social Media Marketing
Social media is one of the most cost-effective and practical marketing methods for improving brand visibility. The Company will use social media to develop engaging content in terms of different tattoo designs and customer reviews that will increase audience awareness and loyalty. Engaging with prospective clients and business partners on social media platforms like Facebook, Instagram, Twitter and LinkedIn will also help understand changing customer needs.

Word of Mouth Marketing
[Company name] will encourage word-of-mouth marketing from loyal and satisfied clients. The Company will use recommendations and word-of-mouth marketing to grow the customer base through the network of its existing customers. The Company will be incentivizing its existing customer base to encourage their friends to come and try their service for the first time.

Special Offers
Offers and incentives are an excellent approach to assisting businesses in replenishing the churn in their customer base that they lose each year. The Company will introduce special offers to attract new consumers and encourage repeat purchases, which will be quite advantageous in the long run.

Pricing Strategy

Pricing strategy is one of the most important functions that any business can plan for attracting customers. Prices are a foundational element of a company’s revenues—if managed carefully, they can generate high profits.

[Company Name]’s pricing will be moderate, so customers feel they receive great value when availing of the tattoo service. The customer can expect to receive quality tattoo services for a more affordable price than what they pay at an ultra-premium tattoo shop.


VII. Operations Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Functional Roles

[Company name] will carry out its day-to-day operations primarily on an appointment basis. Walk-in clients will be served by the earliest available specialist, but priority will be given to clients who booked an appointment prior. In the meantime, the waiting customers can engage themselves in the waiting area, which features television, current popular magazines, and the latest tattoo designs.

To execute on [Company Name]’s business model, the company needs to perform several functions, including the following:

Service Functions

  • Tattoo artists
  • Maintenance personnel
  • Receptionist

Administrative Functions

  • General & administrative functions including legal, marketing, bookkeeping, etc.
  • Inventory management
  • Hiring and training staff

Milestones

[Company Name] expects to achieve the following milestones in the following [] months:

DateMilestone
[Date 1]Finalize lease agreement
[Date 2]Design and build out [Company Name]
[Date 3]Hire and train initial staff
[Date 4]Launch [Company Name] store
[Date 5]Reach break-even


VIII. Management Team

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Management Team Members

[Company Name] is led by [Founder’s Name], who has been in the tattoo business for xx years. While [Founder] has never run a tattoo store himself, he has extensive experience providing tattoo services and working in major tattoo studios for the past xx years. As such, [Founder] has an in-depth knowledge of the tattoo business, including:

  • Graphic design, illustration, digital arts
  • Art history
  • The essentials of health and hygiene

[Founder] also has personal relationships with highly skilled tattoo artists across the community.

[Founder] graduated from the University of ABC where he majored in Arts.

Hiring Plan

[Founder] will serve as the store manager. In order to launch the tattoo shop, the company will need to hire the following personnel:

  • Tattoo artist [Number]
  • Receptionist [Number]
  • Operations Manager

As dictated by demand and operational maturity, [Founder] will consider hiring the following personnel:

  • Additional tattoo artists
  • Assistant manager for helping with day-to-day operations


IX. Financial Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Revenue and Cost Drivers

[Company Name]’s revenues will come from the tattoo services rendered to its customers. The major costs for the company will be salaries of the staff as tattoo artists are paid through a combination of salaries and commission, rewarding them for performance and making specialists an active part in business retention and development. In the initial years, the company’s marketing spend will be high, as it establishes itself in the market.

Capital Requirements and Use of Funds

[Company Name] is currently seeking $370,000 to launch its tattoo shop.
Specifically, these funds will be used as follows:

  • Store design/build: $250,000
  • Working capital: $120,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Key Assumptions

The following table reflects the key revenue and cost assumptions made in the financial model:

Number of customers per dayPer location
FY 120
FY 235
FY 355
FY 475
FY 5100
Annual Lease ( per location)$60,000

 
5 Year Annual Income Statement

Year 1Year 2Year 3Year 4Year 5
Revenues
Product/Service A$151,200 $333,396 $367,569 $405,245 $446,783
Product/Service B$100,800 $222,264 $245,046 $270,163 $297,855
Total Revenues$252,000 $555,660 $612,615 $675,408 $744,638
Expenses & Costs
Cost of goods sold$57,960 $122,245 $122,523 $128,328 $134,035
Lease$60,000 $61,500 $63,038 $64,613 $66,229
Marketing$20,000 $25,000 $25,000 $25,000 $25,000
Salaries$133,890 $204,030 $224,943 $236,190 $248,000
Other Expenses$3,500 $4,000 $4,500 $5,000 $5,500
Total Expenses & Costs$271,850 $412,775 $435,504 $454,131 $473,263
EBITDA($19,850)$142,885 $177,112 $221,277 $271,374
Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
EBIT($56,810)$105,925 $140,152 $184,317 $234,414
Interest$23,621 $20,668 $17,716 $14,763 $11,810
PRETAX INCOME($80,431)$85,257 $122,436 $169,554 $222,604
Net Operating Loss($80,431)($80,431)$0$0$0
Income Tax Expense$0$1,689 $42,853 $59,344 $77,911
NET INCOME($80,431)$83,568 $79,583 $110,210 $144,693
Net Profit Margin (%)-15.00%13.00%16.30%19.40%

 
5 Year Annual Balance Sheet

Year 1Year 2Year 3Year 4Year 5
ASSETS
Cash$16,710 $90,188 $158,957 $258,570 $392,389
Accounts receivable$0$0$0$0$0
Inventory$21,000 $23,153 $25,526 $28,142 $31,027
Total Current Assets$37,710 $113,340 $184,482 $286,712 $423,416
Fixed assets$246,450 $246,450 $246,450 $246,450 $246,450
Depreciation$36,960 $73,920 $110,880 $147,840 $184,800
Net fixed assets$209,490 $172,530 $135,570 $98,610 $61,650
TOTAL ASSETS$247,200 $285,870 $320,052 $385,322 $485,066
LIABILITIES & EQUITY
Debt$317,971 $272,546 $227,122 $181,698 $136,273
Accounts payable$9,660 $10,187 $10,210 $10,694 $11,170
Total Liabilities$327,631 $282,733 $237,332 $192,391 $147,443
Share Capital$0$0$0$0$0
Retained earnings($80,431)$3,137 $82,720 $192,930 $337,623
Total Equity($80,431)$3,137 $82,720 $192,930 $337,623
TOTAL LIABILITIES & EQUITY$247,200 $285,870 $320,052 $385,322 $485,066

 
5 Year Annual Cash Flow Statement

Year 1Year 2Year 3Year 4Year 5
CASH FLOW FROM OPERATIONS
Net Income (Loss)($80,431)$83,568 $79,583 $110,210 $144,693
Change in working capital($11,340)($1,625)($2,350)($2,133)($2,409)
Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
Net Cash Flow from Operations($54,811)$118,902 $114,193 $145,037 $179,244
CASH FLOW FROM INVESTMENTS
Investment($246,450)$0$0$0$0
Net Cash Flow from Investments($246,450)$0$0$0$0
CASH FLOW FROM FINANCING
Cash from equity$0$0$0$0$0
Cash from debt$317,971 ($45,424)($45,424)($45,424)($45,424)
Net Cash Flow from Financing$317,971 ($45,424)($45,424)($45,424)($45,424)
SUMMARY
Net Cash Flow$16,710 $73,478 $68,769 $99,613 $133,819
Cash at Beginning of Period$0$16,710 $90,188 $158,957 $258,570
Cash at End of Period$16,710 $90,188 $158,957 $258,570 $392,389

 

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

 

Fast Food Business Plan Template

If you want to start a Fast Food business or expand your current Fast Food business, you need a business plan.

The following Fast Food business plan template gives you the key elements to include in a winning Fast Food restaurant business plan. It can be used to create a takeout restaurant business plan, a quick service restaurant business plan or a traditional fast food plan.

You can download our Fast Food Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a Fast Food restaurant business plan sample:

I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Bar Business Plan

If you want to start a bar business or expand your thriving bar business, you need a great business plan.

The following bar business plan template gives you the key elements to include in a successful bar business plan. This business plan can be used for any type of business in the bar industry including, but not limited to: a sports bar, a dive bar, a neighborhood bar, wine bar, cocktail bar, and more.

You can download the Bar business plan template (including a full, customizable financial model) to your computer here.

Example Business Plan for a Bar or Pub

Below are links to each of the key elements of a sample bar business plan to help you write an effective bar business plan.

  1. Executive Summary – The executive summary provides an overview of your business idea and summarizes the detailed business plan.
  2. Company Overview – The company analysis includes information about your business concept, business model, business licenses, and business structure.
  3. Industry Analysis – The industry analysis includes local market research that supports your business concept and provides insights into the bar industry trends.
  4. Customer Analysis – The customer analysis provides an overview of your target market including the buying habits of your potential customers.
  5. Competitive Analysis – The competitive analysis should identify your direct and indirect competitors (other local bars and other local businesses with a bar) and highlight your competitive advantage or unique selling point.
  6. You can download the Bar business plan template (including a full, customizable financial model) to your computer here.

  7. Marketing Plan – The marketing plan includes your marketing strategy to attract customers to your bar establishment and the pricing strategies for the alcoholic beverages that you will serve.
  8. Operations Plan – The operations plan includes information on your bar’s day-to-day operations, required bar equipment, inventory management, and expected operating expenses.
  9. Management Team – The management team section includes a profile of the bar owner and bar management team, their experience and responsibilities.
  10. Financial Plan – The financial plan includes financial projections including a cash flow analysis, projected profit and loss statement, and balance sheet. It may also include information about how you plan to secure funding, including a list of potential investors.

You can download the Bar business plan template (including a full, customizable financial model) to your computer here.

Commercial Cleaning Business Plan Template

If you want to start a Commercial Cleaning business or expand your current Commercial Cleaning business, you need a business plan.

The following Commercial Cleaning business plan template gives you the key elements to include in a winning Commercial Cleaning business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Commercial Cleaning business plan:
Commercial Cleaning Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Tutoring Business Plan Template

If you want to start a Tutoring business or expand your current Tutoring business, you need a business plan.

The following Tutoring business plan template gives you the key elements to include in a winning Tutoring Company business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a Tutoring business plan example:
Tutoring Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan



Click below to see each section of our free tutoring business plan template. You can also click here to get our tutoring business plan pdf.

Cannabis Dispensary Business Plan

If you want to start a cannabis dispensary or expand your current cannabis company, you need a well-written business plan.

The following cannabis business plan template gives you the key elements to include in a winning business plan. In addition to this template, to write a solid cannabis business plan you will also conduct market research to help you better understand the legal cannabis industry, market trends, and how to target customers. It will also help you craft your mission statement, marketing plan and strong financial projections.

Sample Dispensary Business Plan

The following sample marijuana dispensary business plan gives you the key elements to include in a successful cannabis business plan.

I. Executive Summary

You can download our Dispensary Business Plan Template (including a full, customizable financial model) to your computer here.

Business Overview

[Company name] is a cannabis dispensary in the [Location] area that offers high-quality and carefully curated medical and recreational products to its customers that will aid their specific needs and ailments. Putting the welfare and convenience of its customers first, [Company name] makes itself accessible by offering its products and services on site and online.

In [Company name], customers are encouraged to ask questions and learn more about the medical and recreational benefits of cannabis. The company’s staff are experts in cannabis preparation and handling, and well-trained in patient care, thus giving its customers a great experience on their dispensary visits. Its team of researchers make sure that they are up to date with the latest studies and development in the legal cannabis industry to ensure the safety and welfare of its customers.

Products Served

[Company Name]’s produces products in the following forms:

  • Flower
  • Vape
  • Edibles
  • Accessories
  • Prerolls
  • Concentrates
  • Topicals

It also offers consultation for patients in need of a customized product for specific ailments and conditions.

Customer Focus

[Company Name] will primarily serve the residents who live within the city. The demographics of these customers are as follows:

  • 70,520 residents
  • 1,540 businesses
  • Average income of $52,320
  • 33.3% married
  • 60% in Mgt./Professional occupations
  • Median age: 37 years

Management Team

[Company Name] is led by [Founder’s Name] who has been in the alternative medicine industry for 15 years. While [Founder] has never started a cannabis company before, he has spent years of study and trials on the different cannabis products that he is now producing. He has completed a dispensary technician certification at the Cannabis Training Institute.

Prior to focusing his efforts on cannabis development, [Founder] worked at a pharmacy for 5 years, making him knowledgeable in medical prescriptions. As such [Founder] is well-prepared to manage the dispensary.

Success Factors

[Company Name] is uniquely qualified to succeed for the following reasons:

  • There is currently no dispensary in the community we are entering.
  • We have determined that the demographics of our target location consists of adults who are legally allowed to use cannabis for medical and recreational purposes.
  • Our location is central to the downtown and easily accessible.
  • The management team has a track record of success in the alternative medicine industry.

Financial Highlights

[Company Name] is seeking a total funding of $270,000 to launch the dispensary. The capital will be used for funding capital expenditures, manpower costs, marketing expenses and working capital.

Specifically, these funds will be used as follows:

  • Design/build: $200,000
  • Working capital: $70,000 to pay for Marketing, salaries, and lease costs until [Company Name] reaches break-even

Top line projections over the next three years are as follows:

Year 1Year 2Year 3Year 4Year 5
Revenue$1,080,000 $2,472,768 $2,830,825 $3,240,728 $3,709,986
Total Expenses$962,000 $1,539,107 $1,719,742 $1,901,321 $2,112,641
EBITDA$118,000 $933,661 $1,111,082 $1,339,407 $1,597,344
Depreciation$25,600 $25,600 $25,600 $25,600 $25,600
EBIT$92,400 $908,061 $1,085,482 $1,313,807 $1,571,744
Interest$29,946 $26,202 $22,459 $18,716 $14,973
Pre Tax Income$62,455 $881,858 $1,063,023 $1,295,091 $1,556,772
Income Tax Expense$21,859 $308,650 $372,058 $453,282 $544,870
Net Income$40,595 $573,208 $690,965 $841,809 $1,011,902


II. Company Overview

You can download our Cannabis Business Plan Template (including a full, customizable financial model) to your computer here.

Who is [Company Name]?

[Company name] is a cannabis dispensary in the [Location] area. It offers high-quality and carefully curated medical and recreational products to its customers that will aid their specific needs and ailments. Putting the welfare and convenience of its customers first, [Company name] makes itself accessible by offering its products and services on site and online.

It is the company’s goal is to become the most accessible, supportive and positive facility in the area. Customers are encouraged to ask questions and learn more about the medical and recreational benefits of cannabis. The company’s staff are experts in cannabis preparation and handling, and well-trained in patient care, thus giving its customers a great experience on their dispensary visits. Its team of researchers make sure that they are up to date with the latest studies and development in the cannabis industry to ensure the safety and welfare of its customers.

[Company Name]’s History

[Company name] is founded by [Founder’s name] in [yyyy]. A firm believer that regulated use of cannabis is beneficial and safe, he started growing and studying the different medical and recreational benefits of cannabis. After thousands of hours of research and testing, and after receiving great feedback on his sample products from his friends, colleagues and random volunteers, [Founder name] began to seek funding for his dispensary until he eventually opened it.

Since incorporation, the Company has achieved the following milestones:

  • Found site location and signed the land deed purchasing rights to the land.
  • Developed the company’s name, logo and website located at www…
  • Determined equipment leasing and financing requirements
  • Began recruiting key employees with experience in the cannabis industry

[Company Name]’s Products/Services

[Company Name]’s produces products in the following forms:

  • Flower
  • Vape
  • Edibles
  • Accessories
  • Prerolls
  • Concentrates
  • Topicals

It also offers consultation for patients in need of a customized product for specific ailments and conditions.

III. Industry Analysis

You can download our Dispensary Business Plan Template (including a full, customizable financial model) to your computer here.

The outlook for the cannabis industry is overwhelmingly positive, with the industry expected to achieve record breaking revenues this year.

The industry will continue to benefit from increasingly favorable attitudes toward medical marijuana treatments, and the growth of legal recreational marijuana sales. Sales are expected to continue to explode, especially in the states that legalized recreational marijuana. This includes the industry’s largest cannabis market, California, which leads the country in cannabis expenditure.

In particular, an increase in per capita disposable income is projected to drive demand for cannabis industry products. Although medicinal products are essential for health and therefore less susceptible to fluctuations in consumer expenditure, the unconventional nature of the industry’s products still make them subject to changes in disposable income. Nevertheless, since consumers pay for industry products out-of-pocket, growth in disposable income will help boost demand. Additionally, medical marijuana dispensaries will likely further expand their offerings of edible marijuana products, which will likely be a major growth segment for industry operators moving forward.

IV. Customer Analysis

You can download our Dispensary Business Plan Template (including a full, customizable financial model) to your computer here.

Demographic Profile of Target Market

[Company Name] will serve the residents of [Insert location] and its immediate surrounding area. The market we serve is willing to spend money on recreational and medical products.

The precise demographics of the town in which our location resides is as follows:

GlendaleHighland
Total Population26,09710,725
Square Miles6.893.96
Population Density3,789.202,710.80
Population Male48.04%48.84%
Population Female51.96%51.16%
Target Population by Age Group
Age 18-243.68%3.52%
Age 25-345.22%4.50%
Age 35-4413.80%13.91%
Age 45-5418.09%18.22%
Target Population by Income
Income $50,000 to $74,99911.16%6.00%
Income $75,000 to $99,99910.91%4.41%
Income $100,000 to $124,9999.07%6.40%
Income $125,000 to $149,9999.95%8.02%
Income $150,000 to $199,99912.20%11.11%
Income $200,000 and Over32.48%54.99%

Customer Segmentation

The company targets the following customer segments:

  • Local residents: Approximately 70,000 people live in the area, 80% of which are over the age of 21.
  • Patients: This includes seniors and critically ill patients that need assistance to alleviate the pain that they are feeling.
  • Local office workers and young professionals: Approximately 5,000 individuals work in offices within a quarter mile of our location and we expect a fair portion of these individuals to frequent the establishment.


V. Competitive Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Direct and Indirect Competitors

Edna Dispensary
Founded in 2013, Edna Dispensary is a group of patient advocates and experienced professionals who strive to provide the best in the art and science of medical marijuana. It is a vertically-integrated cannabis operation, cultivating over 50 strains and more than 100 pharmaceutical grade therapies, manufacturing products under 6 brands, and operating cannabis dispensaries.

Edna Dispensary’s cultivation facility is located in Franklin, but its 2 medical marijuana dispensaries are located in Brookline, and Northampton.

Green Garden Remedies
Green Garden Remedies Inc. is a producer and provider of all-natural cannabis products in Massachusetts. It grows all its plants locally and indoors with living super soil. Its licensed, non-profit medical marijuana dispensary was founded by an M.D. and dedicated to helping patients.

The products available from Garden remedies include flowers, vapes, concentrates and edibles.

CC Dispensary
Established in 2016, CC Dispensary provides medical marijuana products and services to qualifying patients in New York and throughout the United States. Its product line merges industry-leading cannabis cultivation standards with cutting-edge pharmaceutical-quality technology. Each product is precision-engineered to deliver controlled-dose cannabis medicine in a variety of patient-oriented formats and condition-specific cannabinoid concentrations.

In addition, the company offers express ordering, delivery, and video and chat consultations for registered patients, and designated caregivers.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

  • Location: [Company Name]’s location in the downtown area, gives central access to both residents and businesses in the area. The Company also offers adequate parking making it very accessible for potential customers.
  • Products: The company offers a wide selection of products from flowers to prerolls to edibles and more.
  • Ambiance: The dispensary is a convenient place to shop for cannabis with relaxing music, a lounge for waiting customers, snack bar, and wifi connectivity.
  • Management: Our team members have years of experience and knowledge on our products that allows us to market and serve customers in the same manner as our most sophisticated competitors.
  • Relationships: Having lived in the community for a number of years, [Founder’s Name] knows all of the local leaders, newspapers and other influences. As such, it will be relatively easy for us to build the brand and awareness.


VI. Marketing Plan

You can download our Cannabis Business Plan Template (including a full, customizable financial model) to your computer here.

The [Company Name] Brand

The [Company Name] brand will focus on the Company’s unique value proposition:

  • Customer-friendly facility
  • Central location in the downtown area
  • Excellent customer service and patient care
  • High-quality curated products

Promotions Strategy

The Company’s promotions strategy to reach its target market are the following:

Ongoing Customer Communications
[Company Name] will maintain a website and publish a monthly email newsletter to tell customers about new events, products, and more.

Pre-Opening Events
Before opening the dispensary, [Company Name] will organize pre-opening events designed for prospective customers and press contacts. These events will create buzz and awareness for [Company Name] in the area.

Online Marketing
[Company name] will invest resources in two forms of geographically-focused internet promotion—organic search engine optimization and pay-per-click advertising. The Company will develop its website in such a manner as to direct as much traffic from search engines as possible. Additionally, it will use highly-focused, specific keywords to draw traffic to its website, where potential clients will find a content-rich site that presents [Company name] as the trustworthy, well-qualified dispensary that it is.

Commute Advertising
The company will draw attention by hiring workers to hold signs alongside [route or highway]. Advertising on heavily traveled commute routes are an opportunity to alert large numbers of working individuals with disposable income of our opening.


VII. Operations Plan

You can download our Dispensary Business Plan Template (including a full, customizable financial model) to your computer here.

Functional Roles

The Company intends to employ [x] sales person, [x] maintenance personnel and [x] security personnel.

In order to execute on [Company Name]’s business model, the Company needs to perform several functions. [Company name] anticipates using the services of X employees, divided into the following roles:

Service Functions

  • Sell cannabis products
  • Maintain the dispensary functionality and aesthetics
  • Security measures to ensure the safety of staff and customers

Administrative Functions

  • General & administrative functions including marketing, bookkeeping, etc.
  • Marketing team (includes customer representatives to answer general inquiries, social media manager, salesperson
  • Sourcing and storing supplies and equipment

Milestones

[Company name]’s long term goal is to become the most renowned dispensary in the area. It seeks to be the standard by which other providers are judged.

The following are a series of steps that lead to our vision of long-term success. [Company Name] expects to achieve the following milestones in the following [xyz] months:

DateMilestone
[Date 1]Finalize lease agreement
[Date 2]Design and build out [Company Name]
[Date 3]Hire and train initial staff
[Date 4]Kickoff of promotional campaign
[Date 5]Launch [Company Name]
[Date 6]Reach break-even


VIII. Management Team

You can download our Cannabis Business Plan Template (including a full, customizable financial model) to your computer here.

Management Team Members

[Company Name] is led by [Founder’s Name] who has been in the alternative medicine industry for 15 years. While [Founder] has never started a cannabis business before, he has spent years of study and trials on the different cannabis products that he is now producing. He has been in contact with other experts in the field and has completed a dispensary technician certification at the Cannabis Training Institute.

Prior to focusing his efforts on cannabis development, [Founder] worked at a pharmacy for 5 years, making him knowledgeable in medical prescriptions. As such [Founder] is well-prepared to manage the dispensary.

[Founder] graduated from the University of ABC with a Bachelor’s Degree in Pharmacy.

Hiring Plan

[Founder] will serve as the Manager of [Company name]. In order to launch the business, we will hire a staff of 4 to run the store.


IX. Financial Plan

You can download our Dispensary Business Plan Template (including a full, customizable financial model) to your computer here.

Revenue and Cost Drivers

[Company Name]’s will come from patient consultations and legal cannabis sales.

The major costs for the company will be salaries of the staff and cost to maintain the standard of the dispensary. In the initial years, the company’s marketing spend will be high, as it establishes itself in the cannabis market.

Capital Requirements and Use of Funds

[Company Name] is seeking a total funding of $270,000 to launch the dispensary. The capital will be used for funding capital expenditures, manpower costs, cannabis marketing expenses and working capital.

Specifically, these funds will be used as follows:

  • Design/build: $200,000
  • Working capital: $70,000 to pay for Marketing, salaries, and lease costs until [Company Name] reaches break-even

Key Assumptions & Financial Statements

The following table reflects the key revenue and cost assumptions made in the financial model:

Number of customers per day
FY 175
FY 2100
FY 3125
FY 4150
FY 5175
Annual Lease ( per location)$50,000

5 Year Annual Income Statement

Year 1Year 2Year 3Year 4Year 5
Revenues
Product/Service A$151,200 $333,396 $367,569 $405,245 $446,783
Product/Service B$100,800 $222,264 $245,046 $270,163 $297,855
Total Revenues$252,000 $555,660 $612,615 $675,408 $744,638
Expenses & Costs
Cost of goods sold$57,960 $122,245 $122,523 $128,328 $134,035
Lease$60,000 $61,500 $63,038 $64,613 $66,229
Marketing$20,000 $25,000 $25,000 $25,000 $25,000
Salaries$133,890 $204,030 $224,943 $236,190 $248,000
Other Expenses$3,500 $4,000 $4,500 $5,000 $5,500
Total Expenses & Costs$271,850 $412,775 $435,504 $454,131 $473,263
EBITDA($19,850)$142,885 $177,112 $221,277 $271,374
Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
EBIT($56,810)$105,925 $140,152 $184,317 $234,414
Interest$23,621 $20,668 $17,716 $14,763 $11,810
PRETAX INCOME($80,431)$85,257 $122,436 $169,554 $222,604
Net Operating Loss($80,431)($80,431)$0$0$0
Income Tax Expense$0$1,689 $42,853 $59,344 $77,911
NET INCOME($80,431)$83,568 $79,583 $110,210 $144,693
Net Profit Margin (%)-15.00%13.00%16.30%19.40%

5 Year Annual Balance Sheet

Year 1Year 2Year 3Year 4Year 5
ASSETS
Cash$16,710 $90,188 $158,957 $258,570 $392,389
Accounts receivable$0$0$0$0$0
Inventory$21,000 $23,153 $25,526 $28,142 $31,027
Total Current Assets$37,710 $113,340 $184,482 $286,712 $423,416
Fixed assets$246,450 $246,450 $246,450 $246,450 $246,450
Depreciation$36,960 $73,920 $110,880 $147,840 $184,800
Net fixed assets$209,490 $172,530 $135,570 $98,610 $61,650
TOTAL ASSETS$247,200 $285,870 $320,052 $385,322 $485,066
LIABILITIES & EQUITY
Debt$317,971 $272,546 $227,122 $181,698 $136,273
Accounts payable$9,660 $10,187 $10,210 $10,694 $11,170
Total Liabilities$327,631 $282,733 $237,332 $192,391 $147,443
Share Capital$0$0$0$0$0
Retained earnings($80,431)$3,137 $82,720 $192,930 $337,623
Total Equity($80,431)$3,137 $82,720 $192,930 $337,623
TOTAL LIABILITIES & EQUITY$247,200 $285,870 $320,052 $385,322 $485,066

5 Year Annual Cash Flow Statement

Year 1Year 2Year 3Year 4Year 5
CASH FLOW FROM OPERATIONS
Net Income (Loss)($80,431)$83,568 $79,583 $110,210 $144,693
Change in working capital($11,340)($1,625)($2,350)($2,133)($2,409)
Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
Net Cash Flow from Operations($54,811)$118,902 $114,193 $145,037 $179,244
CASH FLOW FROM INVESTMENTS
Investment($246,450)$0$0$0$0
Net Cash Flow from Investments($246,450)$0$0$0$0
CASH FLOW FROM FINANCING
Cash from equity$0$0$0$0$0
Cash from debt$317,971 ($45,424)($45,424)($45,424)($45,424)
Net Cash Flow from Financing$317,971 ($45,424)($45,424)($45,424)($45,424)
SUMMARY
Net Cash Flow$16,710 $73,478 $68,769 $99,613 $133,819
Cash at Beginning of Period$0$16,710 $90,188 $158,957 $258,570
Cash at End of Period$16,710 $90,188 $158,957 $258,570 $392,389

 

You can download our dispensary business plan PDF here. This is a business plan template you can use in PDF format.

Brewery Business Plan Template

If you want to start a brewery business or expand your existing brewery business, you need a business plan.

You can download our brewery business plan template (including a full, customizable financial model) to your computer here.

The following sample brewery business plan template gives you the key elements to include in a successful brewery business plan. It can be used to create a business plan for a craft brewery, a microbrewery business, or another brewery business concept.

Sample Business Plan Template for a Brewery

Below is a brewery business plan example with each of the key sections to help you write a brewery business plan for your own company.

I. Executive Summary

Business Overview

Based in [Location], [Company Name] brewery makes high quality, local beer that not only enriches celebrations and traditions, but also brings a touch of the extraordinary into daily life. It combines time-honored brewing with new methods and unique recipes to create a range of classic and craft beer everyone can enjoy. [Company Name] beer is the flavor of [Location].

Customer satisfaction is [Company Name]’s highest priority, with beer for every palate. [Company Name] has ambitions to become a household name; a go-to for all occasions.

Products Served

The following are the types of beer that [Company Name] produces:

  • IPA
  • Seasonal
  • Belgian Witbier
  • Pale Ale
  • Amber Ale
  • Lager

Customer Focus

[Company Name] will primarily serve the residents who live within the city. The demographics of these target customers are as follows:

  • 302,145 residents
  • 79,567 workers
  • Average income of $51,031
  • 40% married
  • 38% in Mgt./Professional occupations
  • Median age: 39 years

Management Team

[Founder’s Name]’s expertise and experience is the [Company Name]’s most valuable asset. After graduating from the University of ABC where he earned a degree in Business, [Founder’s Name] worked at Samuel Adams. In his long experience in the industry, he acquired an in-depth knowledge of the ins and outs of running a brewery before he started [Company name].

[Company Name] will also employ an experienced assistant to help with production. He will also be trained by [Founder’s Name] so he can take over the brewery business when [Founder’s Name] is away.

Success Factors

[Company Name] is uniquely qualified to succeed due to the following reasons:

  • There is currently no brewery in the community we are entering. In addition, we have surveyed the local population and received extremely positive feedback saying that they explicitly want to purchase our beer when launched.
  • The management team has a track record of success in the craft brewery industry.
  • The brewery business has proven to be a successful business in the United States.

Financial Highlights

[Company Name] is seeking a total funding of $400,000 to launch its brewery. The capital will be used for funding capital expenditures, manpower costs, marketing expenses and working capital.

Specifically, these funds will be used as follows:

  • Brewery design/build: $200,000
  • Working capital: $200,000 to pay for Marketing, salaries, and equipment costs until [Company Name] reaches break-even

 

financial-highlights-restaurant


II. Company Overview

You can download our brewery business plan template (including a full, customizable financial model) to your computer here.

Who is [Company Name]?

[Company Name] is a [Location]-based brewery that produces high quality, local beer that not only enriches celebrations and traditions, but also brings a touch of the extraordinary into daily life. It combines time-honored brewing with new methods and unique recipes to create a range of classic and craft beer everyone can enjoy. [Company Name] beer is the flavor of [Location].

Customer satisfaction is [Company Name]’s highest priority, with beer for every palate. [Company Name] has ambitions to become a household name; a go-to for all occasions.

[Company Name]’s History

Born in Portland, the beer capital of the world, [Founder’s Name] grew up brewing beer. In keeping with family tradition, he was trained in the art and science of handcrafting beer using family recipes and techniques. Upon relocating to [Location], [Founder’s Name] was dismayed to discover a lack of local craft brews. It didn’t take long for him to seize the opportunity to open his own brewery, [Company Name].

Since incorporation, the Company has achieved the following milestones:

  • Acquired land
  • Developed the company’s name, logo and website located at [website]
  • Determined building, equipment and fixture requirements
  • Began recruiting key employees

[Company Name]’s Products/Services

The following are the types of beer that [Company Name] produces:

  • IPA
  • Seasonal
  • Belgian Witbier
  • Pale Ale
  • Amber Ale
  • Lager


III. Industry Analysis

You can download our brewery business plan template (including a full, customizable financial model) to your computer here.

Over the past five years, the brewwery industry has experienced significant change, with the rise of craft breweries, wineries and distilleries. Smaller, regional operators experienced substantial growth, provoking a slew of new operators to enter the industry.

The industry is also seeing heightened competition. Over the past decade, the industry experienced a substantial rise in industry players, mostly craft breweries. As these breweries continue to expand over the next five years, competition is expected to increase, and historically dominant players will likely struggle to maintain their control of industry revenue. As a result, the development of brand names over the next five years will be critical to major players’ success, both in competition among brewers and against substitute products, such as wine and spirits. Such developments will benefit larger players that run more cost-effective promotional campaigns. At the same time, younger beer drinkers, aged 21 to 30, are expected to increasingly experiment with and seek out unusual brews, which will provide opportunities for craft breweries and microbreweries to expand their market reach.

As competition escalates between breweries and the craft beer boom continues to normalize, the number of new entrants is projected to slow. Still, the number of industry enterprises is expected to increase at an annualized rate of 9.4%.

Over the next five years, the industry is forecast to have steady growth. Operators are expected to experience increases in demand from their largest markets, particularly on-premise channels, such as restaurants, bars and event spaces. Moreover, smaller operators that rely on in-person transactions through in-house bars and tasting rooms are expected to see demand, as many people seek social drinking experiences.


IV. Customer Analysis

You can download our brewery business plan template (including a full, customizable financial model) to your computer here.

Demographic Profile of Target Market

[Company Name] will serve the restaurants, hotels, grocery stores, and households within [location] and the immediately surrounding areas.

The precise demographics of the town in which our location resides is as follows:

WilmetteWinnetka
Total Population26,09710,725
Square Miles6.893.96
Population Density3,789.202,710.80
Population Male48.04%48.84%
Population Female51.96%51.16%
Target Population by Age Group
Age 18-243.68%3.52%
Age 25-345.22%4.50%
Age 35-4413.80%13.91%
Age 45-5418.09%18.22%
Target Population by Income
Income $50,000 to $74,99911.16%6.00%
Income $75,000 to $99,99910.91%4.41%
Income $100,000 to $124,9999.07%6.40%
Income $125,000 to $149,9999.95%8.02%
Income $150,000 to $199,99912.20%11.11%
Income $200,000 and Over32.48%54.99%

Customer Segmentation

We will primarily target the following three customer segments:

  • Local residents: Approximately 80,000 people live in the area, 80% of which are over the age of 21.
  • Wholesale accounts: We will target restaurants, hotels and grocery stores to set-up wholesale accounts. These establishments will then sell our beer downstream to end consumers.
  • Businesses: Local corporations hold parties and celebrations for special events and milestones. Although a small segment, this is a good place to increase the company’s brand awareness and market reach.


V. Competitive Analysis

You can download our brewery business plan template (including a full, customizable financial model) to your computer here.

Direct & Indirect Competitors

The Gold Liquid Brewing Co.
Established in 2017, The Gold Liquid Brewing Co is a family-owned and -operated craft microbrewery and gastropub. The operation consists of an 8 bbl brew house, 2 bbl pilot system, a small batch PicoBrew system, and a 3 kg coffee roaster.

In its taproom, Gold Liquid serves 34 in house brews on tap, as well as additional taps for guest ciders and 6 wines on draft. Its gastropub food menu features high-quality food designed to complement Good Liquid brews. Guests may eat in the bright dining room, or in the large, dog-friendly outdoor beer garden, which features picnic tables and outdoor games.

Midwestern Brewing Co.
Established in 1998, Midwestern Brewing Co. is a brewpub offering its beers, both bottled and on tap, and serving lunch and dinner from locally-sourced ingredients whenever possible. Midwestern operates seven locations in Indiana, though not all serve food. The brewery offers complimentary tastings and monthly guest brewmasters.

Better Brewing Co.
Established in 2018, Better Brewing Co. is a family-friendly, small batch brewery with a full kitchen on site serving gourmet style pub fare. It typically offers a weekly list of entertainment, music and food and drink specials. Guests may eat in the dining room, or in the dog-friendly beer garden.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

  • Client-oriented service: [Company Name] will have a full-time sales manager to keep in contact with our wholesale customers.
  • Management: [Founder’s Name] has been extremely successful working in the industry and will be able to use his experience to create the best tasting beers. His unique qualifications will serve customers in a much more sophisticated manner than [Company Name’s] competitors.
  • Transparency: To continue to assure customers of the quality of [Company Name]’s products, customers are welcome to tour the brewery for a beer tasting and brewery experience.


VI. Marketing Plan

You can download our brewery business plan template (including a full, customizable financial model) to your computer here.

The [Company Name] Brand

The [Company Name] brand will focus on the Company’s unique value proposition:

  • Offers the finest beer at a competitive price
  • Has a convenient location in the heart of the city
  • Provides excellent customer service

Promotions Strategy

[Company Name] expects its target market to be individuals working and/or living within [state]. [The Company’s] promotions strategy to reach these individuals includes:

Sampling
[Company Name] employees will initially give free beer samples to enable customers to taste the quality and variety of our beer and learn about us.

Ongoing Customer Communications
[Company Name] will maintain a website and publish a monthly email newsletter to tell customers about new events, products, and more.

Pre-Opening Events
Before opening the brewery, [Company Name] will organize pre-opening events designed for prospective customers, local merchants and press contacts. These events will create buzz and awareness for [Company Name] in the area.

Online Marketing
[Company name] will invest resources in two forms of geographically-focused internet promotion—organic search engine optimization and pay-per-click advertising. The Company will develop its website in such a manner as to direct as much traffic from search engines as possible. Additionally, it will use highly-focused, specific keywords to draw traffic to its website, where potential clients will find a content-rich site that presents [Company name] as the trustworthy, well-qualified brewery that it is.


VII. Operations Plan

You can download our brewery business plan template (including a full, customizable financial model) to your computer here.

Functional Roles

In order to execute on [Company Name]’s business model, the Company’s employees divide the following roles:

Operation Functions

  • Production/brewing
  • Deliveries and business operations
  • Sales and Marketing

Administrative Functions

  • General & administrative functions including marketing, bookkeeping, etc.
  • Hiring and training staff

Milestones

[Company name]’s long term goal is to become the dominant producer of quality beer in the [Location] area. We seek to be the standard by which other brewers are judged.

The following are a series of steps that lead to our vision of long-term success. [Company Name] expects to achieve the following milestones in the following [xyz] months:

DateMilestone
[Date 1]Finalize lease agreement
[Date 2]Design and build out [Company Name]
[Date 3]Hire and train initial staff
[Date 4]Kickoff of promotional campaign
[Date 5]Launch [Company Name]
[Date 6]Reach break-even


VIII. Management Team

You can download our brewery business plan template (including a full, customizable financial model) to your computer here.

Management Team Members

[Founder’s Name]’s expertise and experience is [Company Name]’s most valuable asset. After graduating from the University of ABC where he earned a degree in Business, [Founder’s Name] worked for a major national brewer. In his long experience in the industry, he acquired an in-depth knowledge of the ins and outs of running a brewery before he started [Company name].

[Company Name] will also employ an experienced assistant to help with production. He will also be trained by [Founder’s Name] so he can take over the business when [Founder’s Name] is away.

Hiring Plan

[Founder’s Name] will serve as [Company Name]’s manager. In order to launch the brewery, we need to hire the following personnel:

  • Brewery workers: 5 full-time to start
  • Assistant Manager: 1 full-time to handle the day-to-day operations
  • Delivery personnel: 1 full-time


IX. Financial Plan

You can download our brewery business plan template (including a full, customizable financial model) to your computer here.

Revenue and Cost Drivers

[Company Name]’s revenues will come primarily from the sales of beverages to its customers.

The major costs for the company are packaging costs, salaries and supplies. In the initial years, the company’s marketing spend will be high, as it establishes itself in the market.

Capital Requirements and Use of Funds

[Company Name] is seeking a total funding of $400,000 to launch its brewery. The capital will be used for funding capital expenditures, manpower costs, marketing expenses and working capital.

Specifically, these funds will be used as follows:

  • Store design/build: $200,000
  • Working capital: $200,000 to pay for Marketing, salaries, and equipment costs until [Company Name] reaches break-even

Key Assumptions

The following table reflects the key revenue and cost assumptions made in the financial model:

Number of customers per dayNumber of wholesale contracts per year
FY 145FY 15
FY 255FY 210
FY 365FY 315
FY 475FY 420
FY 585FY 525
Average order price$28.00Average order$250
Annual Lease ( per location)$60,000

5 Year Annual Income Statement

Year 1Year 2Year 3Year 4Year 5
Revenues
Product/Service A$151,200 $333,396 $367,569 $405,245 $446,783
Product/Service B$100,800 $222,264 $245,046 $270,163 $297,855
Total Revenues$252,000 $555,660 $612,615 $675,408 $744,638
Expenses & Costs
Cost of goods sold$57,960 $122,245 $122,523 $128,328 $134,035
Lease$60,000 $61,500 $63,038 $64,613 $66,229
Marketing$20,000 $25,000 $25,000 $25,000 $25,000
Salaries$133,890 $204,030 $224,943 $236,190 $248,000
Other Expenses$3,500 $4,000 $4,500 $5,000 $5,500
Total Expenses & Costs$271,850 $412,775 $435,504 $454,131 $473,263
EBITDA($19,850)$142,885 $177,112 $221,277 $271,374
Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
EBIT($56,810)$105,925 $140,152 $184,317 $234,414
Interest$23,621 $20,668 $17,716 $14,763 $11,810
PRETAX INCOME($80,431)$85,257 $122,436 $169,554 $222,604
Net Operating Loss($80,431)($80,431)$0$0$0
Income Tax Expense$0$1,689 $42,853 $59,344 $77,911
NET INCOME($80,431)$83,568 $79,583 $110,210 $144,693
Net Profit Margin (%)-15.00%13.00%16.30%19.40%

5 Year Annual Balance Sheet

Year 1Year 2Year 3Year 4Year 5
ASSETS
Cash$16,710 $90,188 $158,957 $258,570 $392,389
Accounts receivable$0$0$0$0$0
Inventory$21,000 $23,153 $25,526 $28,142 $31,027
Total Current Assets$37,710 $113,340 $184,482 $286,712 $423,416
Fixed assets$246,450 $246,450 $246,450 $246,450 $246,450
Depreciation$36,960 $73,920 $110,880 $147,840 $184,800
Net fixed assets$209,490 $172,530 $135,570 $98,610 $61,650
TOTAL ASSETS$247,200 $285,870 $320,052 $385,322 $485,066
LIABILITIES & EQUITY
Debt$317,971 $272,546 $227,122 $181,698 $136,273
Accounts payable$9,660 $10,187 $10,210 $10,694 $11,170
Total Liabilities$327,631 $282,733 $237,332 $192,391 $147,443
Share Capital$0$0$0$0$0
Retained earnings($80,431)$3,137 $82,720 $192,930 $337,623
Total Equity($80,431)$3,137 $82,720 $192,930 $337,623
TOTAL LIABILITIES & EQUITY$247,200 $285,870 $320,052 $385,322 $485,066

5 Year Annual Cash Flow Statement

Year 1Year 2Year 3Year 4Year 5
CASH FLOW FROM OPERATIONS
Net Income (Loss)($80,431)$83,568 $79,583 $110,210 $144,693
Change in working capital($11,340)($1,625)($2,350)($2,133)($2,409)
Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
Net Cash Flow from Operations($54,811)$118,902 $114,193 $145,037 $179,244
CASH FLOW FROM INVESTMENTS
Investment($246,450)$0$0$0$0
Net Cash Flow from Investments($246,450)$0$0$0$0
CASH FLOW FROM FINANCING
Cash from equity$0$0$0$0$0
Cash from debt$317,971 ($45,424)($45,424)($45,424)($45,424)
Net Cash Flow from Financing$317,971 ($45,424)($45,424)($45,424)($45,424)
SUMMARY
Net Cash Flow$16,710 $73,478 $68,769 $99,613 $133,819
Cash at Beginning of Period$0$16,710 $90,188 $158,957 $258,570
Cash at End of Period$16,710 $90,188 $158,957 $258,570 $392,389

 

You can download our brewery business plan template (including a full, customizable financial model) to your computer here.

 

Butcher Shop Business Plan Template

If you want to start a butcher shop or expand your current butcher shop, you need a business plan.

The following Butcher Shop business plan template gives you the key elements to include in a winning Butcher Shop business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Butcher Shop business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Electrical Contractor Business Plan Template

If you want to start an Electrical Contractor business or expand your current Electrical Contractor business, you need a business plan.

The following Electrical Contractor business plan template gives you the key elements to include in a winning Electrical Contractor business plan.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Electrical Contractor business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Pharmacy Business Plan & Example

If you want to start a pharmacy or expand your current pharmacy business, you need a business plan.

The following pharmacy business plan template gives you the key elements to include in a winning pharmacy business plan.

You can download our Pharmacy Business Plan Template (including a full, customizable financial model) to your computer here.

Sample Pharmacy Business Plan

Below are links to each of the key sections of your pharmacy business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

IV Hydration Business Plan Template

If you want to start an IV Hydration business or expand your current IV Therapy business, you need a business plan.

The following IV Hydration business plan template gives you the key elements to include in a winning business plan. In addition to this template, successful IV Hydration business plans will include market research to support your business concept and help you better understand the IV hydration therapy industry, trends, and your target market. It will also help you understand your potential competitive advantage, as well as help craft a strong marketing plan and financial plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Sample Business Plan For IV Hydration Businesses

Below are links to each of the key sections of IV therapy clinic business plan. This template will help you get started with your own IV hydration business.

I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Winery Business Plan

If you want to start a winery or expand your current winery, you need a business plan.

The following business plan template gives you the key elements to include in a winning business plan for your winery.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your wine business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Commercial Cultivation Business Plan Template

If you want to start a Commercial Cultivation business or expand your current Commercial Cultivation business, you need a business plan.

The following Commercial Cultivation business plan template gives you the key elements to include in a winning Commercial Cultivation business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Commercial Cultivation business plan:

Commercial Cultivation Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Freight Brokerage Business Plan Template

If you want to start a Freight Brokerage business or expand your current Freight Brokerage business, you need a business plan.

The following Freight Brokerage business plan template gives you the key elements to include in a winning Freight Brokerage business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of an example Freight Broker business plan. Once you create your plan, download it to PDF to show banks and investors.

Freight Brokerage Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Charter Boat Business Plan Template

If you want to start a charter boat company or expand your current charter boat business, you need a business plan.

The following Charter Boat business plan template gives you the key elements to include in a winning business plan. It can be used to create a yacht charter business plan or a fishing charter business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a successful Charter business plan. Once you create your plan, download it to PDF to show banks and investors.

I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Campground Business Plan

If you want to start a campground or expand your current campground business, you need a business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

The following campground business plan template gives you the key elements to include in a winning campground business plan. It can be used to create a business plan for a full-service campground, glamping business, RV campground business, or another business in the RV & parks industry.

Sample Campground Business Plan Template

Below are links to each of the key sections of your campground business plan:

  1. I. Executive Summary
  2. II. Company Overview
  3. III. Industry Analysis
  4. IV. Customer Analysis
  5. V. Competitive Analysis
  6. VI. Marketing Plan
  7. VII. Operations Plan
  8. VIII. Management Team
  9. IX. Financial Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Property Development Business Plan Template

If you want to start a Property Development business or expand your current Property Development business, you need a business plan.

The following Property Development business plan template gives you the key elements to include in a winning property development business plan. It can be used to create a land development business plan and a real estate development company business plan.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Property Development business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Coaching Business Plan Template

If you want to start a coaching business or expand your current coaching services, you need a business plan.

The following Coaching business plan template gives you the key elements to include in a winning business plan. It can be used to write a life coaching business plan, a career coaching business plan, or a plan for any type of coaching practice.

In addition to using this template, a solid plan will also include market research to help you better understand the coaching industry, your competitive advantage and your target customers. It will also help you craft your marketing strategy and strong financial projections.

You can download our Ultimate Business Plan Template (including a full, customizable financial model) to your computer here.

Coaching Business Plan Example

Below are links to each of the key sections of a business plan to help you start your own successful coaching business:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

You can download our Ultimate Business Plan Template (including a full, customizable financial model) to your computer here.

Pizza Business Plan Template

If you want to start a Pizza business or expand your current pizza restaurant, you need a business plan.

The following Pizza business plan template gives you the key elements to include in a winning Pizza business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a successful pizza business plan. Once you create your plan, download it to PDF to show banks and investors.

Pizzeria Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Nursing Home Business Plan Template

If you want to start a Nursing Home business or expand your current Nursing Home business, you need a business plan.

The following Nursing Home business plan template gives you the key elements to include in a winning Nursing Home business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Nursing Home business plan:

I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Dog Daycare Business Plan Template

If you want to start a Dog Daycare or expand your current Dog Daycare, you need a business plan.

The following Dog Daycare business plan template gives you the key elements to include in a winning Dog Daycare business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of your Dog Daycare business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Barber Shop Business Plan Template

If you want to start a barber shop or expand your current barber shop, you need a business plan.

The following barber shop business plan template gives you the key elements to include in a winning barber shop business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a successful Barber Shop business plan. Once you create your plan, download it to PDF to show banks and investors.

I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

RV Park Business Plan

If you want to start a RV park or expand your existing RV park business, you need a business plan.

The following sample business plan gives you the key elements to include in a successful RV park business plan.

You can download our RV Park Business Plan Template (including a full, customizable financial model) to your computer here.

Sample Business Plan for an RV Camping Business

Below are links to each of the key sections of a sample business plan for an RV camping business.

  1. Executive Summary – The executive summary provides an overview of your business opportunity and summarizes the business plan.
  2. Company Overview – The company analysis includes information about your business concept, campground services, and legal structure.
  3. Industry Analysis – The industry analysis includes market research that supports your business and provides insights into market trends and the RV park industry.
  4. Customer Analysis – The customer analysis provides an overview of your target customers including RV campers.
  5. You can download our RV Park Business Plan Template (including a full, customizable financial model) to your computer here.

  6. Competitive Analysis – The competitive analysis should identify your direct and indirect competitors including other RV parks and campsites, and highlight your RV park’s competitive advantage.
  7. Marketing Plan – The marketing plan includes your marketing strategy, pricing strategy and search engine optimization plan to attract customers.
  8. Operations Plan – The operations plan describes your company’s day-to-day operations and processes in maintaining the campground facilities.
  9. Management Team – The management team section includes a profile of the RV park owners and business management, their experience and company responsibilities.
  10. Financial Plan – The financial plan includes financial projections, a cash flow statement, profit and loss statement and balance sheet.

You can download our RV Park Business Plan Template (including a full, customizable financial model) to your computer here.



Click below to see each section of our free RV Park business plan template. You can also click here to get our RV Park business plan pdf.

Nail Salon Business Plan Template

If you want to start a Nail Salon business or expand your current Nail Salon, you need a business plan.

The following Nail Salon business plan template gives you the key elements to include in a winning business plan for your nail salon.

You can download the Nail Salon business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of an example Nail Salon business plan:

I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan



Click below to see each section of our free nail salon business plan template. You can also click here to get our nail salon business plan sample pdf.

Dental Business Plan Template

If you want to start a Dental business or expand your current Dental business, you need a business plan.

The following Dental Office business plan template gives you the key elements to include in a winning Dental business plan.

You can download our Dental Practice Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a dental practice business plan example:

Dental Business Plan Home
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

Food Truck Business Plan

If you want to start a successful food truck business or expand your current mobile food business, you need a business plan.

The following food truck business plan template gives you the key elements to include in a winning food truck business plan.


Food Truck Business Plan Sample

Below is an outline of each of the key sections of an example food truck business plan to help you write your own business plan.

I. Executive Summary

Business Overview

[Company Name], located at [insert location here] is a new, upscale food truck focusing on providing organic, healthy breakfast and lunch items. Our product line fits nicely with health trends nationwide – as individuals are seeking healthier lifestyles complimented by natural, low-fat, and organic foods.

Menu

[Company Name] will offer a menu of salads, soups and sandwiches. All products will use 100% all natural and organic ingredients. Several products on the menu will be highlighted as being lower in fat, cholesterol, or sodium.

Customer Focus

[Company Name] will primarily serve the residents within a 15 mile radius of our food truck. The demographics of these customers are as follows:

  • 27,827 residents
  • Average income of $74,700
  • 58.9% married
  • 49.6% in Mgt./Professional occupations
  • Median age: 38 years

In addition to this prime adult demographic for an upscale and healthy food truck, there are five elementary school, a middle school, and a high school. This will make [Company Name] an ideal location for parents to spend time while waiting for their children or to bring their children to after school.

Management Team

[Company Name] is led by [Founder’s Name] who has been in the food truck business for 20 years. While [Founder] has never run a food truck himself, he has taught cooking classes at the local culinary institute for 20 years and has worked as a sous-chef at some of the most upscale food trucks in the community over the past 10 years. As such [Founder] has an in-depth knowledge of the food truck business including the operations side (e.g., running day-to-day operations) and the business management side (e.g., staffing, marketing, etc.).

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Success Factors

[Company Name] is uniquely qualified to succeed due to the following reasons:

  • There is currently no upscale and healthy food truck in the community we are entering. In addition, we have surveyed the local population and received extremely positive feedback saying that they explicitly want to frequent our business when launched.
  • Our location is in a high-volume area with little direct traffic, and will thus be highly convenient to significant numbers of passerby’s each day
  • The management team has a track record of success in the food truck business.
  • The upscale and healthy food truck business is a proven business and has succeeded in communities throughout the United States.
  • Market trends such as healthy and organic living support our business opportunity as well as growing awareness about the obesity epidemic and repercussions of non-nutritious eating
  • Financial Highlights

    [Company Name] is currently seeking $320,000 to launch. Specifically, these funds will be used as follows:

    • Truck purchase and customization (Design/build): $200,000
    • Working capital: $120,000 to pay for Marketing, salaries, and lease costs until [Company Name] reaches break-even

    food-truck1

    II. Company Overview

    You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

    Who is [Company Name]?

    [Company Name], located at [insert location here] is a new, upscale and healthy food truck focusing on providing organic and delicious foods to the local community.

    [Company Name] was founded by [Founder’s Name]. While [Founder’s Name] has been in the food truck business for some time, it was in [month, date] that he decided to launch [Company Name]. Specifically, during this time, [Founder] took a trip to Fort Lauderdale, FL. During his trip, [Founder’s Name] frequented a food truck that enjoyed tremendous success. After several discussions with the owner of the food truck, [Founder’s Name] clearly understood that a similar business would enjoy significant success in his hometown.

    Specifically the customer demographics and competitive situations in the Fort Lauderdale location and in [insert location here] were so similar that he knew it would work. Furthermore, after surveying the local population, this theory was proven.

    [Company Name]’s History

    Upon returning from Fort Lauderdale, surveying the local customer base, and finding a potential location, [Founder’s Name] incorporated [Company Name] as an S-Corporation on [date of incorporation].

    [Founder’s Name] has selected three initial locations and is currently undergoing due diligence on each property and the local market to assess which will be the most desirable location for the food truck.

    Since incorporation, the company has achieved the following milestones:

    • Developed the company’s name, logo and website
    • Created the menu
    • Determined equipment and inventory requirements
    • Began recruiting key employees with experience in the food truck industry

    [Company Name]’s Menu

    Below is [Company Name]’s initial menu. All items will be 100% natural and organic:

    • Soups
    • Salads
    • Sandwiches

    III. Industry Analysis

    Industry Statistics & Trends

    The following industry size facts and statistics bode well for [Company Name].

    • Food Trucks will continue to perform well over the next five years, benefiting from consumers with deeper pockets able to spend on pricier gourmet food options. The industry is expected to enjoy a strong five years due to positive economic conditions and the gourmet food movement.
    • Consumers are expected to demand higher-quality food, a wider variety of styles and tastes, better presentation, and, most importantly, more healthy menu options. Consumers are no longer willing to accept that choosing to eat street food means sacrificing quality or healthy options. Operators that include healthy options on their menus will be best situated for success. Vendors that continue to offer unique food options will also be in a strong position by carving out a niche and developing a loyal customer base. These customers will often visit the operator’s website or follow the company via social media to determine when the food truck is at a nearby location.
    • The industry will also benefit in the next five years from an increase in the urban population, which is expected to comprise 81.9% of the US population. The industry benefits from agglomeration because it relies on high foot traffic. Additionally, urban dwellers are also more likely to purchase meals rather than cooking at home due to their higher-than-average incomes and limited spare time.
    • The most successful food trucks will earn higher profit margins due to clever marketing and branding, which enables them to charge a premium for menu items.

    IV. Customer Analysis

    You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

    Demographic Profile of Target Market
    [Company Name] will serve the residents of [company location] and the immediately surrounding areas as well as those who work in [company location].

    The area we serve is affluent and has an affinity to healthy and organic foods and beverages like we will be offering.

    WilmetteWinnetka
    Total Population26,09710,725
    Square Miles6.893.96
    Population Density3,789.202,710.80
    Population Male48.04%48.84%
    Population Female51.96%51.16%
    Target Population by Age Group
    Age 18-243.68%3.52%
    Age 25-345.22%4.50%
    Age 35-4413.80%13.91%
    Age 45-5418.09%18.22%
    Target Population by Income
    Income $50,000 to $74,99911.16%6.00%
    Income $75,000 to $99,99910.91%4.41%
    Income $100,000 to $124,9999.07%6.40%
    Income $125,000 to $149,9999.95%8.02%
    Income $150,000 to $199,99912.20%11.11%
    Income $200,000 and Over32.48%54.99%

    Customer Segmentation

    We will primarily target the following four customer segments:

    1. Families: the town has a large family population. The food trucks will be perfectly positioned for an easy, grab and go meal for families.
    2. Local office workers: approximately 5,000 individuals work in offices within a quarter mile of our location and we expect a fair portion of these individuals to frequent us during lunch hours.
    3. Students: there is a middle school and a high school in the town and the high school are within one half mile. Students from these schools will be targeted to frequent [Company Name].

    V. Competitive Analysis

    Direct & Indirect Competitors

    The following competitors are located within a 2 mile radius of [Company Name], thus providing either direct or indirect competition for customers:

    Joe’s Tavern

    Joe’s Tavern is the town’s leading local food truck and has been in business for 32 years. Joe’s offers a wide array of foods, with local bands as entertainment, and is a highly family friendly environment. .

    Joe’s has an extensive menu, with some healthy options and some fried foods and bar favorites. While it has an established clientele, Joe’s Tavern does not differentiate itself as a healthy food choice.

    Old Time Organics

    Old Time Organics has been in business for 5 years. Old Time offers a variety of baked goods, organic teas and coffees, and sandwiches served to-go.

    While Old Time Organics’ food is entirely organic, they have a very limited selection of items and are not open for dinner. The location only has four sit down tables and is thus targeting to-go customers that are either stopping for a quick breakfast or picking up baked goods and coffee for work.

    Freddy’s Deli

    Freddy’s Deli is a recently opened food truck. Freddy’s offers breakfast, lunch, and dinner and is open until 1am nightly.

    [Company Name] has several advantages over Freddy’s Deli including:

    • Freddy’s Deli does not offer products, including pastries, sandwiches, soups and more, made with organic ingredients
    • Freddy’s has very little ambience and due to enormous portion sizes and low quality ingredients, the food is largely unhealthy

    While we expect that Freddy’s Deli will continue to thrive based on its location and excitement about a new food truck, we expect that more and more customers will frequent [Company Name] based on the high-quality and organic ingredients we use and product selection.

    Competitive Advantage

    [Company Name] enjoys several advantages over its competitors. These advantages include:

    • 100% Natural/Organic/High-Quality Ingredients: getting 100% Natural/Organic baked goods, soups, sandwiches and more in the local market is challenging and is being increasingly demanded by the local community
    • Management: Our management team has years of business and marketing experience that allows us to market and serve customers in a much more sophisticated manner than our competitors.
    • Relationships: Having lived in the community for 25 years, [Founder’s Name] knows all of the local leaders, newspapers and other influences. As such, it will be relatively easy for us to build branding and awareness of our food truck.

    VI. Marketing Plan

    You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

    The Marketing Plan describes the type of brand [Company Name] seeks to create and the Company’s planned promotions and pricing strategies.

    The [Company Name] Brand

    The [Company Name] brand will focus on the Company’s unique value proposition:

    • Offering organic, high-quality food items including baked goods, sandwiches, soups, salads and more
    • Offering a convenient location that offers both eat-in or take-out options
    • Providing excellent customer service

    Promotions Strategy

    [Company Name] expects its target market to be individuals working and/or living within a 15-mile radius. The Company’s promotions strategy to reach these individuals includes:

    Direct Mail

    [Company Name] will blanket neighborhoods surrounding its locations with direct mail pieces. These pieces will provide general information on [Company Name], offer discounts and/or provide other inducements for people to frequent the food truck.

    Public Relations

    We will contact all local and area newspapers and television stations to tell them about the opening and unique value proposition of [Company Name].

    Advertising

    [Company Name] will initially advertise in local newspapers and sponsor community events in order to gain awareness.

    Sampling

    [Company Name] employees will initially give free food samples to passerby’s to enable them to taste the quality of our products and learn about us.

    Ongoing Customer Communications

    [Company Name] will maintain a website and publish a monthly email newsletter to tell customers about new events, products, and more.

    Pre-Opening Events

    Before opening, [Company Name] will organize pre-opening events designed for prospective customers, local merchants and press contacts. These events will create buzz and awareness for [Company Name] in the area.

    Pricing Strategy

    [Company Name]’s pricing will be moderate so customers feel they receive great value.

    VII. Operations Plan

    Functional Roles

    In order to execute on [Company Name]’s business model, the Company needs to perform many functions including the following:

    Administrative Functions

    • General & administrative functions including legal, marketing, bookkeeping, etc.
    • Sourcing and storing ingredients
    • Hiring and training staff
    • Food preparation
    • Ongoing menu creation and modification
    • Order taking and fulfillment (for take-out and dine-in)
    • Customer service
    • Janitor/maintenance personnel to keep the food truck clean

    Milestones

    [Company Name] expects to achieve the following milestones in the following [] months:

    DateMilestone
    [Date 1]Finalize lease agreement
    [Date 2]Truck purchase and customization
    [Date 3]Hire and train initial staff
    [Date 4]Launch [Company Name]
    [Date 5]Reach break-even

    VIII. Management Team

    You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

    Management Team Members

    [Company Name] is led by [Founder’s Name] who has been in the food truck business for 20 years.

    While [Founder] has never ran a food truck himself, he has taught cooking classes as the local culinary institute for 20 years. Two courses that he taught included:

    • How To Cook for Everyday Eating- This course was designed to give students an overall understanding of basic dishes that could be cooked for everyday healthy home-style meals
    • Vegetarian Cooking- This course was designed to give students an overall understanding of how to cook with the necessary vitamins and proteins needed to enrich a vegetarian diet without compromising on taste.

    [Founder] has also worked part-time at food trucks throughout the region. Specifically, he has worked for Giana’s Patisserie and Mike’s Place, where he was responsible for overseeing kitchen quality.

    [Founder] graduated from the University of ABC where he majored in Communications.

    Hiring Plan

    [Founder] will serve as the food truck manager. In order to launch the food truck, we need to hire the following personnel:

    • Wait staff (4 full-time equivalents to start)
    • Chefs (3 to start)
    • Sous-chefs (2 to start)
    • Assistant Food truck Manager (will manage cash register and other administrative functions)

    IX. Financial Plan

    Revenue and Cost Drivers

    [Company Name]’s revenues will come from the sale of natural and organic food products to its customers.

    The Company will have dine-in, takeout, and possibly delivery systems to cater to a broad spectrum of customers in its target market.

    The major costs for the company will be food production costs and salaries of the staff. In the initial years, the company’s marketing spend will be high, as it establishes itself in the market.

    Capital Requirements and Use of Funds

    [Company Name] is seeking a total funding of $320,000 to launch its food truck. The capital will be used for funding capital expenditures, manpower costs, marketing expenses and working capital.

    Specifically, these funds will be used as follows:

    • Truck purchase and customization (Design/build): $200,000
    • Working capital: $120,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

    Key Assumptions & Forecasts

    Below please find the key assumptions that went into the financial forecast and a summary of the financial projections over the next five years.

    Menu ItemsUtilization PercentageAverage Price Point
    Breakfast25%$7.00
    Lunch65%$10.00
    Snacks10%$6.00

    5 Year Annual Income Statement

    Year 1Year 2Year 3Year 4Year 5
    Revenues
    Product/Service A$151,200 $333,396 $367,569 $405,245 $446,783
    Product/Service B$100,800 $222,264 $245,046 $270,163 $297,855
    Total Revenues$252,000 $555,660 $612,615 $675,408 $744,638
    Expenses & Costs
    Cost of goods sold$57,960 $122,245 $122,523 $128,328 $134,035
    Lease$60,000 $61,500 $63,038 $64,613 $66,229
    Marketing$20,000 $25,000 $25,000 $25,000 $25,000
    Salaries$133,890 $204,030 $224,943 $236,190 $248,000
    Other Expenses$3,500 $4,000 $4,500 $5,000 $5,500
    Total Expenses & Costs$271,850 $412,775 $435,504 $454,131 $473,263
    EBITDA($19,850)$142,885 $177,112 $221,277 $271,374
    Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
    EBIT($56,810)$105,925 $140,152 $184,317 $234,414
    Interest$23,621 $20,668 $17,716 $14,763 $11,810
    PRETAX INCOME($80,431)$85,257 $122,436 $169,554 $222,604
    Net Operating Loss($80,431)($80,431)$0$0$0
    Income Tax Expense$0$1,689 $42,853 $59,344 $77,911
    NET INCOME($80,431)$83,568 $79,583 $110,210 $144,693
    Net Profit Margin (%)-15.00%13.00%16.30%19.40%

    5 Year Annual Balance Sheet

    Year 1Year 2Year 3Year 4Year 5
    ASSETS
    Cash$16,710 $90,188 $158,957 $258,570 $392,389
    Accounts receivable$0$0$0$0$0
    Inventory$21,000 $23,153 $25,526 $28,142 $31,027
    Total Current Assets$37,710 $113,340 $184,482 $286,712 $423,416
    Fixed assets$246,450 $246,450 $246,450 $246,450 $246,450
    Depreciation$36,960 $73,920 $110,880 $147,840 $184,800
    Net fixed assets$209,490 $172,530 $135,570 $98,610 $61,650
    TOTAL ASSETS$247,200 $285,870 $320,052 $385,322 $485,066
    LIABILITIES & EQUITY
    Debt$317,971 $272,546 $227,122 $181,698 $136,273
    Accounts payable$9,660 $10,187 $10,210 $10,694 $11,170
    Total Liabilities$327,631 $282,733 $237,332 $192,391 $147,443
    Share Capital$0$0$0$0$0
    Retained earnings($80,431)$3,137 $82,720 $192,930 $337,623
    Total Equity($80,431)$3,137 $82,720 $192,930 $337,623
    TOTAL LIABILITIES & EQUITY$247,200 $285,870 $320,052 $385,322 $485,066

    5 Year Annual Cash Flow Statement

    Year 1Year 2Year 3Year 4Year 5
    CASH FLOW FROM OPERATIONS
    Net Income (Loss)($80,431)$83,568 $79,583 $110,210 $144,693
    Change in working capital($11,340)($1,625)($2,350)($2,133)($2,409)
    Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
    Net Cash Flow from Operations($54,811)$118,902 $114,193 $145,037 $179,244
    CASH FLOW FROM INVESTMENTS
    Investment($246,450)$0$0$0$0
    Net Cash Flow from Investments($246,450)$0$0$0$0
    CASH FLOW FROM FINANCING
    Cash from equity$0$0$0$0$0
    Cash from debt$317,971 ($45,424)($45,424)($45,424)($45,424)
    Net Cash Flow from Financing$317,971 ($45,424)($45,424)($45,424)($45,424)
    SUMMARY
    Net Cash Flow$16,710 $73,478 $68,769 $99,613 $133,819
    Cash at Beginning of Period$0$16,710 $90,188 $158,957 $258,570
    Cash at End of Period$16,710 $90,188 $158,957 $258,570 $392,389

     

     

    Dog Kennel Business Plan Template

    If you want to start a Dog Kennel business or expand your current Dog Kennel business, you need a business plan.

    The following Dog Kennel business plan template gives you the key elements to include in a winning Dog Kennel business plan.

    You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

    Below are links to each of the key sections of your Dog Kennel business plan:

    Dog Kennel Business Plan Home
    I. Executive Summary
    II. Company Overview
    III. Industry Analysis
    IV. Customer Analysis
    V. Competitive Analysis
    VI. Marketing Plan
    VII. Operations Plan
    VIII. Management Team
    IX. Financial Plan

    Restaurant Business Plan

    If you want to start a new restaurant or expand your current restaurant, you need a business plan.

    You can download our Restaurant business plan template (including a full, customizable financial model) to your computer here.

    The following restaurant business plan template gives you the key elements to include in a successful business plan. A business plan template for a restaurant can be used to create a small restaurant business plan, a business for a fine dining restaurant, fast casual restaurant, and many other types of restaurant businesses. This restaurant business plan example will help you write a restaurant business plan for your own establishment.


    I. Executive Summary

    Business Overview

    [Company Name], located at [insert location here] is a new, upscale restaurant focusing on providing organic, healthy and/or premium food and beverage products. Our product line fits nicely with health trends nationwide – as individuals are seeking healthier lifestyles complimented by natural, low-fat, and organic foods.

    Products Served

    [Company Name] will offer a full menu of appetizers, salads, soups, sandwiches, entrees and desserts. All products will use 100% all natural and organic ingredients. Several products on the menu will be highlighted as being lower in fat, cholesterol, or sodium.

    In addition to a full menu of food items, [Company Name] will offer beer, wine, coffee, tea, and soft drinks.

    Customer Focus

    [Company Name] will primarily serve the residents within a 15 mile radius of our restaurant. The demographics of these customers are as follows:

    • 27,827 residents
    • Average income of $74,700
    • 58.9% married
    • 49.6% in Mgt./Professional occupations
    • Median age: 38 years

    In addition to this prime adult demographic for an upscale and healthy restaurant, there are five elementary school, a middle school, and a high school. This will make [Company Name] an ideal location for parents to spend time while waiting for their children or to bring their children to after school.

    Management Team

    [Company Name] is led by [Founder’s Name] who has been in the restaurant business for 20 years. While [Founder] has never run a restaurant himself, he has taught cooking classes at the local culinary institute for 20 years and has worked as a sous-chef at some of the most upscale restaurants in the community over the past 10 years. As such [Founder] has an in-depth knowledge of the restaurant business including the operations side (e.g., running day-to-day operations) and the business management side (e.g., staffing, marketing, etc.).

    Success Factors

    [Company Name] is uniquely qualified to succeed due to the following reasons:

    • There is currently no upscale and healthy restaurant in the community we are entering. In addition, we have surveyed the local population and received extremely positive feedback saying that they explicitly want to frequent our business when launched.
    • Our location is in a high-volume area with little direct traffic, and will thus be highly convenient to significant numbers of passerby’s each day.
    • The management team has a track record of success in the restaurant business.
    • The upscale and healthy restaurant business is a proven business and has succeeded in communities throughout the United States.
    • Market trends such as healthy and organic living support our business opportunity as well as growing awareness about the obesity epidemic and repercussions of non-nutritious eating

    Financial Highlights

    [Company Name] is currently seeking $370,000 to launch. Specifically, these funds will be used as follows:

    • Store design/build: $250,000
    • Working capital: $120,000 to pay for Marketing, salaries, and lease costs until [Company Name] reaches break-even

     

    financial-highlights-restaurant


    II. Company Overview

    You can download our Restaurant business plan template (including a full, customizable financial model) to your computer here.

    Who is [Company Name]?

    [Company Name], located at [insert location here] is a new, upscale and healthy restaurant focusing on providing organic and delicious foods to the local community.

    [Company Name] was founded by [Founder’s Name]. While [Founder’s Name] has been in the restaurant business for some time, it was in [month, date] that he decided to launch [Company Name]. Specifically, during this time, [Founder] took a trip to Fort Lauderdale, FL. During his trip, [Founder’s Name] frequented a restaurant that enjoyed tremendous success. After several discussions with the owner of the restaurant, [Founder’s Name] clearly understood that a similar business would enjoy significant success in his hometown.

    Specifically the customer demographics and competitive situations in the Fort Lauderdale location and in [insert location here] were so similar that he knew it would work. Furthermore, after surveying the local population, this theory was proven.

    [Company Name]’s History

    Upon returning from Fort Lauderdale, surveying the local customer base, and finding potential location, [Founder’s Name] incorporated [Company Name] as an S-Corporation on [date of incorporation].

    [Founder’s Name] has selected three initial locations and is currently undergoing due diligence on each property and the local market to assess which will be the most desirable location for the restaurant.

    Since incorporation, the company has achieved the following milestones:

    • Developed the company’s name, logo and website located at www…
    • Created the menu
    • Determined equipment and inventory requirements
    • Began recruiting key employees with experience in the restaurant industry

    [Company Name]’s Products

    Below is [Company Name]’s initial menu. All items will be 100% natural and organic. As you can see all items are classified under the following six main categories:

    • Appetizers
    • Soups
    • Salads
    • Sandwiches
    • Entrees
    • Desserts

    The location has 40 dedicated parking spots which should suffice even in peak hours.

    [Company Name] plans to be open 7 days a week, from 12PM to11PM. As demand dictates, we may extend or reduce our hours. Likewise, as demand dictates, we may offer delivery service.

    III. Industry Analysis

    The following industry trends and statistics bode well for [Company Name].

    According to a recent National Restaurant Association Restaurant Industry Forecast, annual restaurant industry sales are expected to reach $566 billion.

    Full-service restaurants are expected to reach $182.9 billion; in contrast, quick service restaurants are expected to grow to $163.8 billion, a gain of 4.0 percent over last year. Eating-and-drinking places will see an increase in sales from of 2.2 percent from last year, totaling $395 billion.

    The forecast projects that while overall restaurant industry sales will increase in current dollars by 2.5 percent over recent figures; the numbers translate to an inflation-adjusted decline of 1.0 percent. The industry will remain a cornerstone of the economy, representing 4 percent of the U.S. gross domestic product.

    Consumer and Menu Trends
    Among top trends restaurateurs see are an expanded focus on value, healthy options in kids’ meals, locally sourced items and green initiatives.

    • Among 1,600 of American Culinary Federation member chefs, it was decided that balanced children’s meals was number 4 on list of the most popular recent trends and fruit/vegetable side items for kids ranked sixth. In a separate survey, quick-service operators named healthy options in kids meals as the No. 1 food trend in the segment.
    • Overall, chefs ranked nutrition/health as the No. 11 trend on restaurant menus—this includes healthy foods, produce and fruit, smaller dishes, fish and gluten-free/ allergy According to Association consumer research, three in four adults say they are trying to eat healthier now at restaurants than they did two years ago. Nearly three in 10 adults – 27 percent – have gone online to search for nutrition information about restaurant food, up from 24 percent a year ago.
    • Restaurateurs will also continue to show increasing leadership in becoming “greener”— by taking action such as reducing energy and water use—in step with patrons’ interest in environmental issues. About four in 10 full-service-restaurant operators and nearly three in 10 quick service operators say they plan to devote more of their budgets to green initiatives. Restaurant patrons like the idea: 44 percent surveyed recently said they are likely to make a restaurant choice based on an operation’s practices in the areas of energy and water conservation.


    IV. Customer Analysis

    You can download our Restaurant business plan template (including a full, customizable financial model) to your computer here.

    Demographic Profile of Target Market

    [Company Name] will serve the residents of [company location] and the immediately surrounding areas as well as those who work in [company location].

    The area we serve is affluent and has an affinity to healthy and organic foods and beverages like we will be offering.

    WilmetteWinnetka
    Total Population26,09710,725
    Square Miles6.893.96
    Population Density3,789.202,710.80
    Population Male48.04%48.84%
    Population Female51.96%51.16%
    Target Population by Age Group
    Age 18-243.68%3.52%
    Age 25-345.22%4.50%
    Age 35-4413.80%13.91%
    Age 45-5418.09%18.22%
    Target Population by Income
    Income $50,000 to $74,99911.16%6.00%
    Income $75,000 to $99,99910.91%4.41%
    Income $100,000 to $124,9999.07%6.40%
    Income $125,000 to $149,9999.95%8.02%
    Income $150,000 to $199,99912.20%11.11%
    Income $200,000 and Over32.48%54.99%

    Customer Segmentation

    We will primarily target the following customer segments:

    1. Local office workers: approximately 5,000 individuals work in offices within a quarter mile of our location and we expect a fair portion of these individuals to frequent us during lunch hours.
    2. Students: there is a middle school and a high school in the town and the high school are within one half mile. Students from these schools will be targeted to frequent [Company Name].
    3. Families and Couples: We expect couples and families to frequent our restaurant and enjoy our dinner atmosphere.


    V. Competitive Analysis

    Direct & Indirect Competitors

    The following restaurants are located within a 2 mile radius of [Company Name], thus providing either direct or indirect competition for customers:

    Joe’s Tavern

    Joe’s Tavern is the town’s leading local restaurant and has been in business for 32 years. Joe’s offers a wide array of foods, with local bands as entertainment, and is a highly family friendly environment. .

    Joe’s has an extensive menu, with some healthy options and some fried foods and bar favorites. While it has an established clientele, Joe’s Tavern does not differentiate itself as a healthy food choice.

    Old Time Organics

    Old Time Organics has been in business for 5 years. Old Time offers a variety of baked goods, organic teas and coffees, and sandwiches served to-go.

    While Old Time Organics’ food is entirely organic, they have a very limited selection of items and are not open for dinner. The location only has four sit down tables and is thus targeting to-go customers that are either stopping for a quick breakfast or picking up baked goods and coffee for work.

    Freddy’s Deli

    Freddy’s Deli is a recently opened restaurant. Freddy’s offers breakfast, lunch, and dinner and is open until 1am nightly.

    [Company Name] has several advantages over Freddy’s Deli including:

    • Freddy’s Deli does not offer products, including pastries, sandwiches, soups and more, made with organic ingredients
    • Freddy’s has very little ambience and due to enormous portion sizes and low quality ingredients, the food is largely unhealthy

    While we expect that Freddy’s Deli will continue to thrive based on its location and excitement about a new restaurant, we expect that more and more customers will frequent [Company Name] based on the high-quality and organic ingredients we use and product selection.

    Competitive Advantage

    [Company Name] enjoys several advantages over its competitors. These advantages include:

    • 100% Natural/Organic/High-Quality Ingredients: getting 100% Natural/Organic baked goods, soups, sandwiches and more in the local market is challenging and is being increasingly demanded by the local community
    • Management: Our management team has years of business and marketing experience that allows us to market and serve customers in a much more sophisticated manner than our competitors.
    • Relationships: Having lived in the community for 25 years, [Founder’s Name] knows all of the local leaders, newspapers and other influencers. As such, it will be relatively easy for us to build branding and awareness of our restaurant.


    VI. Marketing Plan

    You can download our Restaurant business plan template (including a full, customizable financial model) to your computer here.

    The Marketing Plan describes the type of brand [Company Name] seeks to create and the Company’s planned promotions and pricing strategies.

    The [Company Name] Brand

    The [Company Name] brand will focus on the Company’s unique value proposition:

    • Offering organic, high-quality food items including baked goods, sandwiches, soups, salads and more
    • Offering a convenient location that offers both eat-in or take-out options
    • Providing excellent customer service

    Promotions Strategy

    [Company Name] expects its target market to be individuals working and/or living within a 15-mile radius of each of its store. The Company’s promotions strategy to reach these individuals includes:

    Direct Mail

    [Company Name] will blanket neighborhoods surrounding its locations with direct mail pieces. These pieces will provide general information on [Company Name], offer discounts and/or provide other inducements for people to frequent the restaurant.

    Public Relations

    We will contact all local and area newspapers and television stations to tell them about the opening and unique value proposition of [Company Name].

    Advertising

    [Company Name] will initially advertise in local newspapers and sponsor community events in order to gain awareness.

    Sampling

    [Company Name] employees will initially give free food samples to passerby’s to enable them to taste the quality of our products and learn about us.

    Ongoing Customer Communications

    [Company Name] will maintain a website and publish a monthly email newsletter to tell customers about new events, products, and more.

    Pre-Opening Events

    Before opening the store, [Company Name] will organize pre-opening events designed for prospective customers, local merchants and press contacts. These events will create buzz and awareness for [Company Name] in the area.

    Pricing Strategy

    [Company Name]’s pricing will be moderate so customers feel they receive great value when patronizing the stores.


    VII. Operations Plan

    Functional Roles

    In order to execute on [Company Name]’s business model, the Company needs to perform many functions including the following:

    Administrative Functions

    • General & administrative functions including legal, marketing, bookkeeping, etc.
    • Sourcing and storing ingredients
    • Hiring and training staff

    Kitchen Functions

    • Food preparation
    • Ongoing menu creation and modification

    Restaurant Service Functions

    • Order taking and fulfillment (for take-out and dine-in)
    • Customer service
    • Janitor/maintenance personnel to keep the restaurant clean

    Milestones

    [Company Name] expects to achieve the following milestones in the following [] months:

    DateMilestone
    [Date 1]Finalize lease agreement
    [Date 2]Design and build out [Company Name]
    [Date 3]Hire and train initial staff
    [Date 4]Launch [Company Name] store
    [Date 5]Reach break-even


    VIII. Management Team

    You can download our Restaurant business plan template (including a full, customizable financial model) to your computer here.

    Management Team Members

    [Company Name] is led by [Founder’s Name] who has been in the restaurant business for 20 years.

    While [Founder] has never ran a restaurant himself, he has taught cooking classes as the local culinary institute for 20 years. Two courses that he taught included:

    1. How To Cook for Everyday Eating
    This course was designed to give students an overall understanding of basic dishes that could be cooked for everyday healthy home-style meals

    2. Vegetarian Cooking
    This course was designed to give students an overall understanding of how to cook with the necessary vitamins and proteins needed to enrich a vegetarian diet without compromising on taste.

    [Founder] has also worked part-time at restaurants throughout the region. Specifically, he has worked for Giana’s Patisserie and Mike’s Place, where he was responsible for overseeing kitchen quality.

    [Founder] graduated from the University of ABC where he majored in Communications.

    Hiring Plan

    [Founder] will serve as the restaurant manager. In order to launch the restaurant, we need to hire the following personnel:

    • Wait staff (4 full-time equivalents to start)
    • Chefs (3 to start)
    • Sous-chefs (2 to start)
    • Assistant Restaurant Manager (will manage cash register and other administrative functions)


    IX. Financial Plan

    Revenue and Cost Drivers

     [Company Name]’s revenues will come from the sale of natural and organic food products to its customers.

    The Company will have dine-in, takeout, and possibly delivery systems to cater to a broad spectrum of customers in its target market.

    The major costs for the company will be food production costs and salaries of the staff. In the initial years, the company’s marketing spend will be high, as it establishes itself in the market.
     

    Capital Requirements and Use of Funds

     [Company Name] is seeking a total funding of $370,000 to launch its restaurant. The capital will be used for funding capital expenditures, manpower costs, marketing expenses and working capital.

    Specifically, these funds will be used as follows:

    • Store design/build: $250,000
    • Working capital: $120,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

     

    Key Assumptions & Forecasts

     Below please find the key assumptions that went into the financial forecast and a summary of the financial projections over the next five years. Please see the Appendix for more detailed financial forecasting information.

    Menu Items% of SalesQuantityAverage Price PointCost of Goods Sold
    Beer25%2.25$7.3316%
    Cocktails20%2.25$7.0019%
    Wine by Glass10%2.25$8.6725%
    Food Items45%1$17.6730%

     
    5 Year Annual Income Statement

    Year 1Year 2Year 3Year 4Year 5
    Revenues
    Product/Service A$151,200 $333,396 $367,569 $405,245 $446,783
    Product/Service B$100,800 $222,264 $245,046 $270,163 $297,855
    Total Revenues$252,000 $555,660 $612,615 $675,408 $744,638
    Expenses & Costs
    Cost of goods sold$57,960 $122,245 $122,523 $128,328 $134,035
    Lease$60,000 $61,500 $63,038 $64,613 $66,229
    Marketing$20,000 $25,000 $25,000 $25,000 $25,000
    Salaries$133,890 $204,030 $224,943 $236,190 $248,000
    Other Expenses$3,500 $4,000 $4,500 $5,000 $5,500
    Total Expenses & Costs$271,850 $412,775 $435,504 $454,131 $473,263
    EBITDA($19,850)$142,885 $177,112 $221,277 $271,374
    Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
    EBIT($56,810)$105,925 $140,152 $184,317 $234,414
    Interest$23,621 $20,668 $17,716 $14,763 $11,810
    PRETAX INCOME($80,431)$85,257 $122,436 $169,554 $222,604
    Net Operating Loss($80,431)($80,431)$0$0$0
    Income Tax Expense$0$1,689 $42,853 $59,344 $77,911
    NET INCOME($80,431)$83,568 $79,583 $110,210 $144,693
    Net Profit Margin (%)-15.00%13.00%16.30%19.40%

     
    5 Year Annual Balance Sheet

    Year 1Year 2Year 3Year 4Year 5
    ASSETS
    Cash$16,710 $90,188 $158,957 $258,570 $392,389
    Accounts receivable$0$0$0$0$0
    Inventory$21,000 $23,153 $25,526 $28,142 $31,027
    Total Current Assets$37,710 $113,340 $184,482 $286,712 $423,416
    Fixed assets$246,450 $246,450 $246,450 $246,450 $246,450
    Depreciation$36,960 $73,920 $110,880 $147,840 $184,800
    Net fixed assets$209,490 $172,530 $135,570 $98,610 $61,650
    TOTAL ASSETS$247,200 $285,870 $320,052 $385,322 $485,066
    LIABILITIES & EQUITY
    Debt$317,971 $272,546 $227,122 $181,698 $136,273
    Accounts payable$9,660 $10,187 $10,210 $10,694 $11,170
    Total Liabilities$327,631 $282,733 $237,332 $192,391 $147,443
    Share Capital$0$0$0$0$0
    Retained earnings($80,431)$3,137 $82,720 $192,930 $337,623
    Total Equity($80,431)$3,137 $82,720 $192,930 $337,623
    TOTAL LIABILITIES & EQUITY$247,200 $285,870 $320,052 $385,322 $485,066

     
    5 Year Annual Cash Flow Statement

    Year 1Year 2Year 3Year 4Year 5
    CASH FLOW FROM OPERATIONS
    Net Income (Loss)($80,431)$83,568 $79,583 $110,210 $144,693
    Change in working capital($11,340)($1,625)($2,350)($2,133)($2,409)
    Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
    Net Cash Flow from Operations($54,811)$118,902 $114,193 $145,037 $179,244
    CASH FLOW FROM INVESTMENTS
    Investment($246,450)$0$0$0$0
    Net Cash Flow from Investments($246,450)$0$0$0$0
    CASH FLOW FROM FINANCING
    Cash from equity$0$0$0$0$0
    Cash from debt$317,971 ($45,424)($45,424)($45,424)($45,424)
    Net Cash Flow from Financing$317,971 ($45,424)($45,424)($45,424)($45,424)
    SUMMARY
    Net Cash Flow$16,710 $73,478 $68,769 $99,613 $133,819
    Cash at Beginning of Period$0$16,710 $90,188 $158,957 $258,570
    Cash at End of Period$16,710 $90,188 $158,957 $258,570 $392,389

     

    Solar Farm Business Plan Template

    If you want to start a new Solar Farm or expand your current Solar Farm, you need a business plan.

    The following Solar Farm business plan template gives you the key elements to include in a winning Solar Farm business plan. It can be used for a solar energy business, renewable energy business, alternative energy providers and a solar panels business plan.

    You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

    Solar Business Plan Sample

    Below are links to each of the key sections of a successful solar energy business plan. Once you create your plan, download it to PDF to show banks and investors.

    I. Executive Summary
    II. Company Overview
    III. Industry Analysis
    IV. Customer Analysis
    V. Competitive Analysis
    VI. Marketing Plan
    VII. Operations Plan
    VIII. Management Team
    IX. Financial Plan

    You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

    As the world of business has evolved, so too has the process of creating a business plan. No longer is it necessary to spend countless hours and dedicate considerable key resources to developing a document that may never be used. A lean business plan is a new approach that focuses on creating a basic roadmap for your business and business partners that can be adapted and updated as needed.

     

    What is a Lean Business Plan?

    A lean startup business plan is a stripped-down version of a traditional business plan that contains only the essential elements. This type of plan is typically used by entrepreneurs who are starting a new business or seeking funding from investors. It is also useful for businesses that are rapidly growing and need to adapt their plans on the fly.

    The key difference between a lean startup business plan and a traditional business plan is that the former is focused on execution while the latter is focused on raising capital. A lean business plan can be created in a matter of hours, while a traditional business plan can take weeks or even months.

     

    Benefits of a Lean Business Plan

    There are many benefits to this approach, including the following:

    1. It saves time and resources.
    2. It is more flexible and can be adapted as needed.
    3. It is less daunting and can be completed in a shorter time frame.
    4. It can be used as a tool for raising capital and for business strategy.

    If you are interested in writing a lean business plan, there are a few things to keep in mind. First, it is important to focus on the essentials. What are the key components of your business? What are your goals and objectives? What are the steps you need to take to achieve these goals? Secondly, it is important to be realistic. A lean business plan is not a document that should be full of pie-in-the-sky projections. Rather, it should be based on market research and realistic assumptions. Finally, it is important to keep the plan itself lean. This means avoiding superfluous information and fluff. The goal is to create a document that is clear, concise, and to the point.

     

    Lean Business Plan Template

    There are many key components of a lean business plan. First and foremost, it is important to focus on your vision, mission, and goals for your business. What is your long-term vision for the company? What are your core values and how do they guide your business decisions? What are your short-term goals and how will you achieve them? These are all important questions to answer in your plan.

    In addition, you will need to outline your business model and how you plan to make money. This should include a description of your products or services, your target market, and your competitive landscape. You will also need to outline your marketing and sales strategy, as well as your long-term growth strategy.

    Finally, it is important to include a section on financials. This should include an overview of your projected income and expenses, as well as a cash flow analysis.

    By including these key components in your lean business plan, you will have a roadmap for your business that is clear, concise, and easy to follow.

    Executive Summary

    The executive summary is the most important part of your lean business plan. This is where you will give a brief overview of your business, including your vision, mission, and goals. You will also describe your target market, your competitive advantages, and your growth strategy. This should be a clear and concise summary of your business that will give readers a good understanding of what you do and what you plan to achieve.

    Company Description

    In this section, you will provide more detail on your company, including a history of how it was founded and its core values. You will also describe your products or services, your target market, and your competitive landscape. This is the section where you will really start to flesh out your business model and how you plan to make money.

    Mission Statement

    Your mission statement should be a clear and concise description of what your company does and why it exists. This is an important part of your lean business plan because it will help to focus your goals and keep you on track as you grow your business.

    Goals and Objectives

    In this section, you will outline your short-term and long-term goals for your business. This is an important part of your plan because it will help to keep you focused and on track as you grow your company.

    Description of products or services

    In this section, you will provide a detailed description of the products or services you offer. This should include information on what your product or service is, how it is different from your competitors, and why your target market needs it.

    Competitive Analysis

    In this section, you will provide an overview of your competition. This should include information on who your competitors are, what they offer, and how you compare to them. This section is also a great place to outline our company’s competitive advantage when relating to other businesses.

    Marketing and Sales Strategy

    In this section, you will outline your marketing and sales strategy. This should include a description of your go-to-market strategy, your pricing strategy, your customer segments, and your channels of distribution. You will also describe your promotional strategy and how you plan to generate leads and convert them into customers.

    Financials

    In this section of your business plan, you will include an overview of your financial projections. This should include a profit and loss statement, a balance sheet, and a cash flow statement. You will also want to include a sensitivity analysis to show how your business would perform under different scenarios.

    Exit Strategy

    In this section, you will describe your exit strategy. This should include a description of how you plan to sell the business or take it public. You will also want to include a timeline for achieving this goal.

     

    Lean Business Plan Example

    Summary of your business

    Joe’s Pizzeria is a family-owned and operated business that has been serving the community for over 25 years. We offer a wide variety of pizzas, as well as other Italian favorites such as calzones, pasta, and salad.

    Mission statement

    To provide our customers with the best possible product and service, while maintaining the highest standards of quality and value.

    Description of products or services

    We offer a wide variety of pizzas, as well as other Italian favorites such as calzones, pasta, and salad. All of our dishes are made fresh to order using only the finest ingredients.

    Market analysis

    The pizza market in New York is extremely competitive. To be successful, we need to differentiate ourselves from the competition by offering a superior product and outstanding customer service.

    Target market

    Our target market is families with young children who are looking for good value.

    Cost Structure

    Our costs are relatively low because we use a lot of bulk ingredients and we have a very efficient production process.

    Pricing strategy

    We plan to price our products competitively to gain market share.

    Sales and marketing strategy

    We will use a variety of marketing techniques to reach our target market, including print and online advertising, as well as direct mail. We will also offer discounts and promotions on our website and through our email newsletter.

    Financial projections

    Our financial projections are based on a conservative estimate of the number of pizzas we will sell each month. We expect to be profitable within the first year of operation.

    Key Partnerships

    We have established relationships with several local suppliers who provide us with high-quality ingredients at a discount.

    Exit strategy

    We plan to sell the business after five years of operation.

    Timeline

    • Year 1: Develop marketing and sales strategy; Implement online and print advertising campaign; Launch website and email newsletter; Develop direct mail campaign
    • Year 2: Continue advertising campaigns; Expand product line to include pasta and salad dishes; Begin franchise expansion in neighboring cities
    • Year 3: Continue advertising campaigns; Further expand the product line to include desserts; Continue franchise expansion
    • Year 4: Evaluate options for selling the business or taking it public
    • Year 5: Sell the business or take it public.

     

    Lean Business Plan FAQs

    Is a lean business plan the same as a traditional business plan?

    No, a lean business plan is not the same as a traditional plan. A traditional plan is typically much longer and more detailed, while a lean business plan is shorter and more concise.

    What are the benefits of writing a lean business plan?

    There are several benefits of writing a lean business plan. First, it forces you to focus on the most important aspects of your business. Second, it is much quicker and easier to write than a traditional business plan. Third, it is more flexible and can be easily updated as your business grows and changes.

    What should I include in my lean business plan?

    Your lean business plan should include an executive summary, a description of your products or services, a market analysis, a sales, and marketing strategy, financial projections, and an exit strategy.

    How long should my lean business plan be?

    A lean business plan is typically only 10-15 pages long.

    Traditional Business Plans and Outlines

    Business Plan Definition

    A business plan is a document that outlines a company’s goals and how it plans to achieve them. It’s important for businesses because it helps them stay focused and organized. A well-written business plan can also help a company secure financing from investors or banks. The purpose of a business plan is to provide a roadmap for businesses to follow. It helps businesses to set goals, track progress, and make decisions.

     

    Steps to Write a Business Plan

    There are several steps that businesses should take when writing a business plan.

    1. Define the purpose of the business plan.
    2. Research and gather information about the business.
    3. Write the executive summary.
    4. Describe the company’s products and services.
    5. Conduct market analysis.
    6. Analyze the competition.
    7. Develop a marketing plan.
    8. Outline the business’s operations.
    9. Introducing the management team.
    10. Include a financial plan.
    11. Appendices and supporting documents.

    Fortunately you can now use a free ai business plan generator to quickly and expertly create your plan
     

    Tips for Writing a Business Plan

    When writing a business plan, it’s important to keep the following tips in mind:

    • The purpose of the business plan should be clear.
    • The business plan should be well-researched.
    • The executive summary should be concise and to the point.
    • The business plan should be easy to read and understand.
    • The market analysis should be thorough.
    • The competition analysis should be accurate.
    • The marketing plan should be realistic.
    • The operations plan should be feasible.
    • The management team should be qualified.
    • The financial plan should be realistic.

     

    Common Business Plan Mistakes

    There are a few common mistakes that businesses make when writing a business plan:

    • Not Defining the Purpose of the Business Plan: The purpose of the business plan should be clear from the outset. Otherwise, it can be difficult to stay focused and on track.
    • Not Conducting Research: A well-researched business plan is more likely to be successful than one that has not been researched.
    • Not Writing a Concise Executive Summary: An executive summary should be concise and to the point. It should not include unnecessary information.
    • Not Making the Business Plan Easy to Read and Understand: A business plan should be easy to read and understand. Otherwise, it can be difficult for investors or lenders to make a decision.
    • Not Conducting a Thorough Market Analysis: A thorough market analysis is essential for businesses to understand the opportunity that exists for their products or services.
    • Not Analyzing the Competition: It’s important for businesses to understand their competition to create a competitive advantage.
    • Not Developing a Realistic Marketing Plan: A marketing plan should be realistic and achievable. Otherwise, it can be difficult to execute.
    • Not Outlining Feasible Operations: The operations plan should be feasible and achievable. Otherwise, it can be difficult to implement.
    • Not Introducing a Qualified Management Team: The management team should be qualified and have the experience necessary to execute the business plan.
    • Not Creating a Realistic Financial Plan: The financial plan should be realistic and achievable. Otherwise, it can be difficult to secure funding.

     

    Business Plan Formats

    There are a few different formats that businesses can use when writing a business plan. The most common formats are the traditional format, the lean format, and the nonprofit format.

    Traditional Business Plan:

    The traditional business plan is the most common type of business plan. It includes an executive summary, a company description, a market analysis, a customer analysis, a competitor analysis, a marketing plan, an operations plan, a management team, and a financial plan.

    Lean Business Plan

    The lean business plan is a simpler and shorter version of the traditional business plan. It includes an executive summary, a company description, a market analysis, a customer analysis, a competitor analysis, and a financial plan.

    Nonprofit Business Plan

    The nonprofit business plan is for businesses that have a charitable or social mission. It includes an executive summary, a company description, a market analysis, a customer analysis, a competitor analysis, and a financial plan.

     

    Business Plan Template

    There is no one-size-fits-all business plan outline. However, some key components should be included in any good business plan. The following is a suggested outline for a business plan.

    Executive Summary

    The Executive Summary is the most important part of the business plan. It should be a brief (1-2 page) overview of the company, the products/services offered, the market opportunity, the company’s competitive advantages, and the financial goals.

    Company Description

    The Company Description should provide more detail on the history of the company, its mission/vision statement, and any relevant information about the management team and ownership.

    Market Analysis

    The Market Analysis should research and describe the target market for the product/service, including market size, growth rates, demographics, and buying habits.

    Customer Analysis

    The Customer Analysis should identify the customer segments that the company plans to target and describe their needs and buying behavior.

    Competitive Analysis

    The Competitor and Competitive Analysis should research and describe the main competitors in the market, their products/services, market share, pricing strategy, and competitive advantages.

    Marketing Plan

    The market analysis section should describe the company’s overall marketing strategy, including positioning, product/service mix, promotion, pricing, and distribution. This is also the section of the business plan to include target market research, target customers, as well as overall marketing and sales strategy.

    Operations Plan

    The Operations Plan should describe the company’s manufacturing/production process, capacity, quality control procedures, delivery schedules, warehousing, and logistics plans.

    Management Group

    The Management Group Section should include biographies of the key members of the management team, their experience, and qualifications. A successful business plan will outline all members of the executive team and how they fit into the business idea and business plans.

    Financial Plan

    The Financial Plan should include financial statements (projected income statement, balance sheet, and cash flow statement), assumptions used in the projections, and a detailed funding request if the company is seeking investment from potential investors.

    Appendix

    The Appendix should include any additional information that would be helpful in understanding the business plan, such as market research reports, detailed financial projections, contracts, etc.

     

    Business Plan Example

    The following is an example of a business plan for a hypothetical company.

    Executive Summary

    XYZ Company is a start-up that will provide home health care services to the elderly and disabled in the state of XYZ. The company will be owned and operated by John Doe.

    The market opportunity for home health care services is significant, as the population of elderly and disabled individuals is growing rapidly. XYZ Company will be well-positioned to take advantage of this opportunity, with a strong management team and a unique business model.

    The company’s financial goals are to generate revenue of $5 million in the first year, $10 million in the second year, and $15 million in the third year. XYZ Company will require an investment of $1.5 million to get the business started.

    Company Description

    XYZ Company was founded in 2019 by John Doe. The company is headquartered in XYZ, with a satellite office in ABC.

    XYZ Company’s mission is to provide quality home health care services to the elderly and disabled in the state of XYZ. The company will provide a full range of services, including personal care, homemaking, and companionship.

    The management team at XYZ Company is led by John Doe, who has over 20 years of experience in the home healthcare industry. The rest of the management team includes Jane Smith, who has experience in marketing and sales, and Joe Smith, who has experience in finance and accounting.

    Market Analysis

    The market opportunity for home health care services is significant, as the population of elderly and disabled individuals is growing rapidly. In 2018, there were 12 million people over the age of 65 in the United States, and this number is expected to grow to 20 million by 2030.

    The home healthcare industry is expected to grow at a rate of 5% per year over the next five years. This growth is being driven by the aging population and the increasing preference for receiving care in the home rather than in a hospital or nursing home setting.

    XYZ Company will be well-positioned to take advantage of this opportunity, with a strong management team and a unique business model. The company plans to focus on the high-end market segment, providing services that are not typically offered by other home healthcare providers.

    Competitor Analysis

    There are several large home healthcare providers in the state of XYZ, including Home Health Care, Inc., ABC Home Health Care, and XYZ Home Health Care. These companies have been in business for several years and have a significant market share.

    In addition to the large home health care providers, there are also several smaller, regional providers. These companies typically have a more limited service area and may only offer a few of the services that XYZ Company plans to provide.

    Marketing Plan

    XYZ Company plans to generate revenue through a combination of direct marketing and referrals from physicians and other healthcare providers.

    The company’s marketing efforts will be focused on creating awareness of the home healthcare services that XYZ Company offers and generating leads from potential customers.

    To reach potential customers, XYZ Company will use a variety of marketing channels, including print advertising, online advertising, direct mail, and public relations.

    Operations Plan

    XYZ Company will be operated out of offices in XYZ and ABC. The company plans to hire a staff of 10 employees, including registered nurses, licensed practical nurses, home health aides, and office personnel.

    The company’s operations will be overseen by John Doe, who has extensive experience in the home healthcare industry. Jane Smith will be responsible for marketing and sales, and Joe Smith will handle finance and accounting.

    Financial Statements and Plan

    XYZ Company is seeking an investment of $1.5 million to fund the start-up costs of the business.

    The company’s financial projections show that it will generate revenue of $5 million in the first year, $10 million in the second year, and $15 million in the third year. The company’s net income is projected to be $1 million in the first year, $2.5 million in the second year, and $4 million in the third year.

    Cash Flow Statement

    XYZ COMPANY

    Cash Flow Statement

    For the period ____ to ____

     

    Cash Received

    From customers: _____________________

    From other sources: _____________________

    Total cash received: _____________________

     

    Cash Used

    In operations: _____________________

    For capital expenditures: _____________________

    Total cash used: _____________________

    Net Cash Flow

    Cash flow from operations: _____________________

    Cash flow from capital expenditures: _____________________

    Net cash flow: _____________________

    Appendix

    The appendix of the business plan includes additional information that supports the company’s case for investment, including market research reports, competitor analysis, and detailed financial projections.

    A business plan is a critical component of any business, whether it is a start-up or an established company. A good business plan will help to ensure that the company is able to articulate its vision and objectives, and have a roadmap for achieving its goals.

     

    Business Plan Template FAQS

    What is a business plan?

    A business plan is a document that outlines the goals and objectives of a business, and the strategies and plans for achieving those goals.

    Why do I need a business plan?

    A business plan is an important tool for any entrepreneur or a small business owner. It can help you attract investors, secure funding, and get your business off the ground.

    How do I write a business plan?

    There is no one-size-fits-all answer to this question. The best way to write a business plan is to use a business plan template or sample business plan outline as a guide. You can also find plenty of resources and advice on how to write a business plan online or from business consultants.

    What should I include in my business plan?

    The specific contents of a business plan will vary depending on the type of business, but typically a business plan outline should include an executive summary, company description, market analysis, marketing, and sales plan, operations plan, management team, and financial plan.

    Is there a business plan template I can use?

    There are many business plan templates available online, from government websites, small business organizations, and consultants. You can also find sample business plans in books and software programs.

    What is an executive summary?

    An executive summary is a brief overview of the main points of a business plan. It should include the company’s mission statement, a description of the products or services offered, the target market, the company’s competitive advantage, and a financial overview.

    Financial Projections and Financial Statements for Your Business

    As a business owner, you will need to create financial projections as part of your business plan. Financial projections are an estimate of your company’s future financial performance. They are used to track actual results against your forecast and to make decisions about how to grow your business.

    Creating financial projections can be a complex task, but it is important to get them right. In this article, we will discuss what financial projections are, why you need them, and how to create them.

     

    What Are Business Plan Financial Projections?

    Financial projections are an estimate of your company’s future financial performance. They can be used to track actual results against your forecast and to make decisions about how to grow your business.

    Financial projections are typically made for a period of one to three years into the future. However, they can be created for longer time periods as well.

    When drafting financial projections for your business plan, it is important to remember that they are just that – projections. They are not guaranteed to be accurate, and you should use them as a guide rather than gospel.

    There are a few key components that you will need to include in your financial yearly projections:

    • Sales Forecast
    • Recurring Expenses Budget
    • Cash Flow Statement
    • Marketing Costs
    • Income Statement Projection
    • Projected Balance Sheet
    • Projected Income Statement
    • Projected Profit and Loss Statement
    • Financial Model and Financial Forecast
    • Break Even Analysis
    • Company’s assets 

    Let’s take a closer look at some of these components.

     

    Sales Forecast

    The sales forecast is simply an estimate of how much revenue your business will generate over a given period of time. This can be based on past sales data, market trends, or other factors. Be realistic in your estimates, and make sure to account for seasonal fluctuations.

    Expense Budget

    The expense budget is a list of all the expenses your company will incur over the forecast period. This includes things like rent, marketing expenses, salaries, and so on. It is important to be accurate in your estimates, as it will help you stay financially solvent over the course of the year.

    Cash Flow Statements

    The cash flow statement shows the movement of money in and out of your business over the forecast period. This includes both cash inflows (sales revenue, investments, etc.) and outflows (operating expenses, loan payments, etc.). Keeping track of your cash flow is essential for making sound financial decisions for your business.

    Projected Operating Income

    The income projection and cash flow projection is an estimate of how much profit your business will earn over the forecast period. This can be based on past performance or other factors. It is important to remember that profits are not always equal to sales revenue – you may have some costs that are not covered by revenue (e.g., depreciation on equipment). Operating profit equals net income minus interest expense and income tax expense.

    Projected Balance Sheet

    The projected balance sheet shows how your business’ assets and liabilities will change over the forecast period. This can be helpful in predicting when you will reach profitability or become insolvent.

    Break-Even Analysis

    The break-even analysis shows how many units or dollars of sales your business must generate in order to break even – that is, to cover all costs associated with running the business. This can be helpful in determining how much growth you need in order to become profitable.

     

    What is the purpose of the Financial Section of a Business Plan?

    The purpose of the financial section of a business plan is to provide a snapshot of your company’s current financial situation and future prospects. This information can help you make decisions about how to grow your business.

    The financial section of a business plan typically includes four key components: the sales forecast, the expense budget, the cash flow statement, and the income projection. These projections can help you track actual results against your forecast and make informed decisions about the future of your business.

    When drawing up financial projections for your business plan, it is important to remember that they are just that – projections. While not an exact science, it is important to prepare financial projections that accurately reflect business operations and capital expenditures as a way of appealing to potential investors. 

     

    Example of a Business Plan’s Financial Section

    The following is an example of a business plan’s financial section:

     

    Company Name

    Financial Projections

     

    Short Term Projections

    1/1/2015-12/31/2015 1/1/2016-12/31/2016 1/1/2017-12/31/2017
    Sales Revenue $100,000 $120,000 $140,000
    Operating Expenses $60,000 $72,000 $84,000
    Net Income $40,000 $48,000 $56,000

     

    Long Term Projections

    2018 2019 2020
    Sales Revenue $150.000 $180,000 $210,000
    Operating Expenses $75,000 $90,000 $105,000
    Net Income $75,000 $90,000 $105,000

     

    As you can see, this financial section provides a snapshot of the company’s sales, expenses, and profits for the next three years. It also includes a long-term projection for the following year.

    Long-term financial projections are an estimate of a company’s future sales, expenses, and profits. This information can help business owners make informed decisions about the future of their business.

    Short-term financial projections are a snapshot of your company’s finances for a specific period of time. They can help you track actual results against your forecast and make informed decisions about the future of your business.

    This example can help you create your own financial projections for your business plan. Remember to be realistic in your estimates and to account for seasonal fluctuations.

     

    Steps to Making Financial Projections for Your Business

    Now that you know what financial projections are and why they are important, let’s take a look at how to create them.

    1. Know your historical financial data. This includes things like sales data, expenses, cash flow, and so on. This will help you create more accurate projections.
    2. Make assumptions about the future. This includes things like expected sales growth, new markets, changes in expenses, etc. Be realistic in your assumptions, and make sure to document them so you can refer back to them later.
    3. Create your projections. There are a number of software programs that can help you with this, or you can do it manually.
    4. Review your projections. Make sure they make sense and that you are comfortable with them. Remember, these are just estimates – they are not guaranteed to be accurate.
    5. Update your projections regularly. As your business changes, so too will your financial projections. Be sure to update them on a regular basis to ensure they remain accurate.

     

    Why Do You Need Financial Projections?

    There are several reasons why you might need financial projections. They can be used:

    • To track actual results against your cash flow projection
    • To make decisions about how to grow your existing business or startup
    • To get a loan or investment from a lender or investor
    • To track your company’s financial performance and balance sheet over time

     

    How to Create Financial Projections

    Creating financial projections can be a complex task. However, there are some steps you can take to make the process easier.

    1. Know your business model. Before you can create accurate financial projections, you need to understand how your business makes money. What are your key revenue streams? How do your costs vary with sales? What are your fixed and variable costs?
    2. Make assumptions about the future. Once you understand your business model, you can make assumptions about the future. What do you think will happen with your sales? How will your costs change?
    3. Use historical data to inform your projections. If you have been in business for a while, you can use historical data to inform your projections. Look at your past financial statements to see how your business has performed in the past.
    4. Create different scenarios. It is often helpful to create different scenarios when making financial projections. For example, you might create a best-case scenario, a worst-case scenario, and a most-likely scenario. This will help you to be prepared for different outcomes.
    5. Use software to help with the calculations. There are many software programs that can help you with the financial projection process. These programs can make the calculations for you and help you to create more accurate projections.

     

    Tips for Writing Financial Projections

    When creating financial projections, you should keep a few things in mind. Here are some tips.

    • Be realistic. It is important to be realistic when making assumptions about the future. Do not try to make your projections too optimistic or too pessimistic.
    • Use conservative estimates. When in doubt, use conservative estimates. This will help to ensure that your projections are accurate.
    • Make sure your projections are clear and easy to understand. Your financial projections should be presented in a way that is easy to follow.
    • Update your projections regularly. Your projections should be updated regularly as your business grows and changes. This will help you to track your company’s progress and make necessary adjustments.

    Making financial projections is an important part of any business plan. By taking the time to create accurate projections, you can make better decisions about how to grow your business. Use the tips above to help create clear and easy-to-understand financial projections.

     

    Financial Projections FAQs

    What are cash flow projections? 

    Cash flow projections are a financial tool that businesses use to predict how much cash they will generate and need over a specific period of time. This information can be helpful in making decisions about things like whether to invest in new equipment or hire more employees.

    How do I create an income statement? 

    An income statement is created by taking your company’s revenue and subtracting the costs associated with that revenue. This will give you your company’s income for the period.

    What is a financial forecast for a business? 

    A financial forecast for a business is an estimate of the company’s financial performance for a future period of time. This forecast can be used to make decisions about things like whether or not to invest in the company, how much money to borrow, and what prices to set for products and services.

    What are annual income statements for a business and why is it important? 

    An annual income statement is a financial statement that shows a company’s revenue, expenses, and net income for a specific fiscal year. This statement is important because it shows how successful a company was in generating revenue and whether it was able to keep its costs under control.

    Do existing businesses need financial projections?

    Yes, all businesses should have a set of financial projections, whether they are new or existing businesses. Financial projections can help business owners understand how well their business is doing and make decisions about where to allocate their resources. Additionally, financial projections can be used as a tool to secure funding from investors or banks.

    Write a Business Plan for Your Bank

    The first step in writing a plan for a bank is to understand what a business plan is and why it’s important. Plans for your business are simply a roadmap for your company that outlines your goals, strategies, and how you intend to achieve them. It’s important to have a business plan because it helps you stay focused and on track as you grow your company.

    There are a few key things that you should keep in mind as you write your plans:

    1. Your plans should be clear and concise.
    2. It should be realistic and achievable.
    3. It should be based on market research and information about your product or service.
    4. It should outline your marketing strategy and the competitive landscape.
    5. It should detail your financial projections, balance sheets, and income statements.

     

    Tips for Writing a Good Business Plan

    Once you understand the benefits of small businesses writing a plan and why it’s important, you can start writing your own. Here are a few tips to keep in mind as you write:

    1. Start with a strong executive summary. This is the most important part of your plan because it’s what will grab the attention of potential investors.
    2. Make sure you do your research. This includes financial projections and understanding your competition as well as your target customer.
    3. Keep it simple. Your plan should be easy to understand and not overly complicated.
    4. Be realistic. Don’t make unrealistic promises or projections in your plan.
    5. Be clear and concise. Again, your plan should be easy to understand.

    Once you have a draft of your company plans, you can start seeking out funding from banks or writing a funding request from other sources. Remember, your plan is a tool to help you secure funding and grow your bank, while also protecting your intellectual property. 

     

    Resources Needed to Write Business Plans

    To write plans for a bank, most entrepreneurs need some key resources. These include:

    • Market research – This will help you understand your industry, market, competitors, and target customers as well as information about your product or service.
    • Financial projections – These will help you understand your business’s financial health and where it’s headed in the future.
    • Cash Flow Statements – These will show you how much money is coming in and going out of your company, this can also include an income statement and balance sheet.
    • Financial Analysis – This will help you understand your business’s financial situation and make better decisions for the future by reviewing the financial information.
    • Customer segments – A customer segment is a group of customers or potential customers who share common needs or characteristics. When writing your plan, it’s important to identify your market and understand what needs your potential customers have. This will help you design your marketing strategy and products/services that appeal to them. 
    • A clear understanding of your goals – What are you trying to achieve with your company? This will help you write a more focused and targeted plan.
    • A copy of your company’s current financial statement and legal structure
    • Understanding of competition – Who are your competitors and what are they doing? This will help you position your business in the market.
    • Understanding of target market – Who are you selling to? This will help you write more targeted and effective marketing strategies.

    You’ll also need to understand your competition and your target market. If you’re not familiar with financial statement analysis, you may want to get help from a financial advisor. Having a well-written business plan is essential to securing funding from banks or other investors. With the right resources, you can create a plan that will help your company grow and succeed. Remember that your plan is a living document and the detailed information can grow and change along with your business. 

     

    Why Should You Write Business Plans?

    Plans for your business is an important tool for any business, but it’s especially important for banks. That’s because a business plan can help you secure funding from banks or other investors. It also helps you stay focused and on track as you grow your business. Without a plan, it would be difficult to know where your business is going or how to get there. So if you’re thinking about starting a bank, be sure to write a detailed plan for your business.

    A plan will give you a clear roadmap for your business. It will help you understand your industry, target market, and competitors. And it will help you secure funding from banks or other investors. So if you’re serious about starting a bank, be sure to write a plan. It could be the difference between success and failure.

     

    Sources of Business Funding for Banks

    There are a few sources of business funding for banks. The most common source is from banks themselves. Other sources include:

    Private investors

    Private investors are individuals or groups who invest their personal savings in businesses in exchange for a share of the profits. They can be a great source of funding for banks, especially early on when the business is still getting off the ground. Private investors typically have more money to invest than banks, and they’re often willing to take on more risk. This can be a great option for businesses that are struggling to get funding from banks.

    Venture Capitalists

    Venture capitalists are individuals or groups who invest in high-risk businesses in exchange for a share of the profits. They’re often willing to take on more risk than banks, and they have more money to invest. This can be another great option for businesses that are struggling to get funding from banks.

    Government Grants

    Government grants can be a great source of funding for banks. They offer low-interest rates and flexible repayment terms, and they’re available to businesses of all sizes. So if you’re looking for funding for your bank, be sure to check out government grants. You may be able to get the money you need to grow your business.

    Customer Deposits

    The most important source of funding for banks is from customers’ deposits. Customers’ deposits are what give banks the money they need to lend out and make a profit. So if you’re looking for business funding for your bank, be sure to focus on attracting and keeping customers.

     

    How to Start a Bank

    Opening a bank is not as difficult as it may seem. There are a few key things that you’ll need to do in order to get started. Here are the steps:

    1. Choose a business structure. The first step is to choose the right business structure for your bank. The most common structures are corporations and limited liability companies (LLCs).
    2. Register your business with the state. Next, you’ll need to register your business with the state. This process can vary depending on your state, so be sure to check with your local government office for more information.
    3. Apply for a license from the Federal Reserve Board. In order to open a bank, you’ll need to apply for a license from the Federal Reserve Board. This process can be complicated, so it’s important to consult with an attorney or financial advisor who can help you through the application process.
    4. Secure funding for your bank. The final step is to secure funding for your bank. This can be done through private investors, venture capitalists, or government grants.

    Once you have taken these steps, you will be ready to open your own bank!

     

    Bank Business Plan Format & Template

    A bank business plan template can be a helpful tool when you’re writing your own plan. A template can give you a structure to follow and help you fill in the important details of your plan. It’s important to remember that no two businesses are alike, so be sure to tailor your plan to fit your specific bank.

    When you’re writing your plan, be sure to include the following:

    Executive Summary 

    This summary is a brief overview of your bank’s plan. It should include your bank’s mission statement, as well as a description of your products and services.

    Company Description

    The company description should provide an overview of your bank, including its history, ownership structure, and locations.

    Marketing Plan & Analysis 

    The market analysis should describe your target market and competition. It should also include information on your marketing strategy, sales projections, and sales strategies.

    Competitive Analysis

    The competitive analysis should describe your bank’s competitive advantages as well as detail direct competitors. This can include things like your experience, reputation, and relationships with other banks. 

    Operational Plan

    The operational plan should outline how your bank will be run on a day-to-day basis. It should include information on your management group, facilities, and technology.

    Management Group and Key Members

    The management team should include a description of your bank’s management team, as well as their experience and qualifications. This is also a section to include your organizational chart and information about any business partners.

    Financial Plan

    This plan should include your bank’s financial statements, as well as information on your funding needs, sources of capital, balance sheets, income statement, and revenue streams. This is also the section to include any supporting documents and information about bank accounts your business already has open as well as previous business loan information.

    Don’t forget to tailor your plan to fit your specific bank! This will help you create a strong plan that can attract investors, new business partners, and help you get the funding you need to grow your business.

     

    Bank Business Plan FAQs

    What is a bank business plan?

    A bank business plan is a document that describes your bank’s products, services, and operations. It should also include information on your target market, competition, and marketing and sales strategy. A well-written business plan can attract investors and help you get the funding you need to grow your business.

    Do I need a plan to start a bank?

    Yes, a plan is essential to starting a bank. It will help you secure funding and stay on track as you grow your business.

    Why do I need a business plan?

    A business plan is an important tool for any business, but it’s especially important for banks. That’s because banks are heavily regulated businesses that require a lot of capital to operate. A well-written plan can help you secure the funding you need to start or grow your bank.

    What should I include in my business plan?

    Be sure to tailor your business plan to fit your specific bank, but in general, it should include an executive summary, company description, market analysis, management team, and financial plans.

    Do I need to hire a professional to write my business plan?

    While you can write your own business plan, it’s often a good idea to hire a professional to help you. A professional can ensure that your business plan is well-written and tailored to your specific bank.

    What are some common mistakes to avoid when writing a business plan?

    Some common mistakes to avoid when writing business plans include failing to tailor the plan to your specific bank, not including enough detail, and not including a financial plan.

    Business planning for a bank can be a daunting task, but it’s important to remember that no two businesses are alike. Be sure to tailor your business plan to fit your specific bank. This will help you create a strong business plan that can attract investors and help you get the funding you need to grow your business.

    Venture Capital Business Plan for a Startup Company

    As the owner or CEO of a small business, you may be considering seeking venture capital investment at some point in the growth of your company. Venture capitalists are individuals or firms that invest in high-growth businesses, typically in exchange for equity.

    There are several benefits to seeking venture capital investment, including the potential for a large infusion of cash and the ability to tap into the expertise of experienced investors. However, there are also some drawbacks to consider, such as giving up a portion of ownership in your company and potentially losing some control over its direction.

    If you do decide that seeking venture capital investment is the right move for your business, you’ll need to put together a comprehensive business plan that outlines your company’s current state, its growth potential, and your plans for achieving that growth.

     

    Tips for Writing a Business Plan for Venture Capital Firms

    Here are some tips to help you write a venture capital-worthy business plan:

    1. Do your homework. Before you start writing your business plan, do your research on the venture capital process and what professional investors are looking for. This will help you craft a plan that is tailored to the needs of potential investors.
    2. Keep it clear and concise. Venture capital investors are busy people, so make sure your business plan is clear and to the point. When writing your business plan it is important to consider the investor’s perspective and include only the most essential information and present it in an easy-to-read format.
    3. Focus on growth potential. VCs are primarily interested in investing in businesses with high growth potential. Be sure to highlight your company’s unique selling points and explain how you plan to achieve rapid growth.
    4. Put together a solid team. Investors will also want to see that your company has a strong management team in place. Make sure to highlight the experience and accomplishments of your key team members.
    5. Have a clear exit strategy. Venture capital investors typically invest with an eye toward eventually selling their equity stake in startup companies. As such, they’ll want to see that you have a well-thought-out plan for how and when they will be able to cash out.

    By following these tips, you can put together a strong business plan that will appeal to potential venture capitalists and give you the best chance of securing the investment you need to grow your business.

     

    Benefits of Venture Capital Investment

    There are several benefits to seeking venture capital investment, including:

    • The potential for a large infusion of cash. Venture capitalists typically invest much larger sums of money than traditional lenders, such as banks. This can give your business the boost it needs to expand its operations and achieve rapid growth.
    • The ability to tap into the expertise of experienced investors. In addition to the money they invest, VCs can also provide valuable guidance and mentorship to help you grow your business.
    • The potential for a lower cost of capital. If you are able to secure venture debt rather than equity financing, you may be able to get a lower interest rate and more flexible repayment terms.

     

    Drawbacks of Venture Capitalist Investment

    There are also some potential drawbacks to seeking venture capital investment, including

    • Giving up a portion of ownership in your company. In exchange for their investment, VCs will typically want to take an equity stake in your business. This means you will have to give up a portion of the ownership and control of your company.
    • Losing some control over the direction of your company. VCs will typically want to have a say in how their investment is used and may even want to be involved in decisions such as hiring and firing.
    • The potential for high pressure and unrealistic expectations. Because VCs are looking to make a profit on their investment, they may put pressure on you to achieve unrealistic growth targets. This can lead to a lot of stress and can even put your business at risk if you are unable to meet their expectations.

     

    Options to Raise Capital for Small Businesses

    If you’re a small business owner looking for capital, there are a number of options available to you. In addition to seeking venture capital investment, you could also:

    • Apply for a small business loan from a bank or other financial institution.
    • Seek out angel investors or other private investors.
    • Participate in crowdfunding campaigns.
    • Apply for government grants or loans.

    Whatever route you decide to take, be sure to put together a strong business plan and pitch to increase your chances of success.

     

    What is a Venture Capital Firm?

    A venture capital firm is an investment company that provides financing to startups and small businesses with high growth potential. VC firms typically invest larger sums of money than traditional lenders, such as banks, and often take an equity stake in the companies they finance. In addition to the capital they provide, VC firms can also offer valuable mentorship and guidance to help small businesses grow.

    Venture capitalists typically look for businesses with high growth potential that are in industries they understand well. They also typically prefer to invest in companies that are led by experienced management teams.

     

    Venture Capitalists Business Plan Template

    If you’re seeking venture capital investment for your business, you’ll need to put together a strong business plan. Your plan should include an executive summary, company analysis, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, and financial plan.

    Make sure to do your research and put together a well-thought-out plan before approaching any VC firms. Remember, they are looking for businesses with high potential for growth and profitability, so you’ll need to make a strong case for why your company is worth their investment.

    Executive Summary

    The executive summary is the most important part of your business plan. This is where you will make your case for why your company is a good investment opportunity. Be sure to include information on your company’s history, product or service, target market, competitive advantage, and growth potential.

    Company Analysis

    In this section of your business plan, you will provide an overview of your company. Include information on your company’s history, mission statement, and team. Be sure to also include financial information, such as your company’s revenue and expenses.

    Industry Analysis

    In this section, you will provide an overview of the industry in which your company operates. Include information on industry trends, growth potential, and major players. Be sure to also include information on your target market and how your company plans to gain a competitive advantage.

    Customer Analysis

    In this section, you will provide an overview of your target customer. Include information on your target market’s needs and how your company plans to meet them. Be sure to also include information on your target market’s buying habits and preferences.

    Competitive Analysis

    In this section, you will provide an overview of your major direct and indirect competitors. Include information on their products, prices, marketing strategies, and competitive advantages. Be sure to also include information on how your company plans to compete against them.

    Marketing Plan

    In this section, you will provide an overview of your company’s marketing strategy. Include information on your target market, marketing mix, and promotional strategy. Be sure to also include information on your sales strategy and how you plan to generate revenue.

    Operations Plan

    In this section, you will provide an overview of your company’s operations. Include information on your manufacturing process, supply chain, distribution channels, and logistics. Be sure to also include information on your company’s organizational structure and how you plan to manage your team.

    Financial Plan

    In this section, you will provide an overview of your company’s financials. Include information on your revenue, expenses, and profits. Be sure to also include information on your funding needs, cash flow, and how you plan to use the capital you raise.

    Putting together a strong business plan is essential if you’re seeking venture capital investment for your business. Be sure to do your research and put together a well-thought-out plan before approaching any VC firms. 

     

    Venture Capital FAQs

    How do I find a venture capitalist?

    There are a few ways to find venture capitalists. You can attend industry events, search online directories, or contact VC firms directly.

    What should I include in my business plan?

    Your business plan should include an executive summary, company analysis, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, and financial plan.

    What are the benefits of venture capital investment?

    Venture capitalists typically invest in companies with high potential for growth and profitability. They also provide valuable resources, such as mentorship, connections, and expertise.

    What are the drawbacks of venture capital investment?

    One of the main drawbacks of venture capital investment is that it can be expensive. VC firms typically charge high fees, and they also take a percentage of your company’s equity.

    What are my options for raising capital for my small business?

    There are a few options for raising capital for a small business, including bank loans, government grants, and venture capital investment.

    What is a venture capitalist?

    A venture capitalist is an investor who provides capital to companies with high potential for growth and profitability. Venture capitalists typically invest in early-stage companies and take an active role in their development.

    business plan software
    When it comes to starting or running a business, having a solid business plan is key. A good business plan can help you secure financing, keep your business on track, and make sure you’re covering all your bases. Along with business plan templates, good business plan software tools can make the process of creating a business plan much easier and help you create a more polished and professional document.

    In this article, we’ll cover what business plan software is, how it can help you create a winning business plan, features to look for when choosing the best business plan software for your needs, and some of the best business plan software solutions available on the market.

     

    Business Plans Explained

    A business plan is a document that explains what your business is, how it will make money, and what you need to do to make it successful. Business plans are used to secure investor funding and help set your business goals and a plan for reaching them internally. Most banks and investors will want to see a detailed business plan before offering support. You can create a business plan on your own, with a template, or using business planning software. All companies need a good business plan, including small businesses, startups, and large organizations.

     

    Business Plan Software Explained

    Creating a business plan can be a big task, especially if you’ve never done it before. In many ways, business plan software is like an interactive template where you can input your business information and it generates a professionally-formatted document. Just like starting from a template, business plan software solutions can be huge time savers over creating a business plan from scratch.

     

    Who Uses Business Plan Software

    Business plan software is used by entrepreneurs and businesses of all sizes to create their business plans. Whether you’re starting a small business or trying to get funding for a larger organization, a business plan can give you the structure and guidance you need to get started on the right foot. While business plan software won’t write your business plan for you, it can make the process much easier by providing structure and examples to help you create a polished and professional business plan. In short, business plan software is used by anyone who needs a professional business plan quickly and easily.

     

    Business Plan Software Features You Need

    When choosing the best business plan software, there are a few key features you should look for, including:

    • Design Choices – A big part of the business plan creation process is design. You want a business plan that looks professional but still represents your business or industry. The best business plan software solutions will give you design options to create a look that works for you.
    • Financial Calculations – One of the most time-consuming aspects of creating a business plan is figuring out key financial data and financial projections. Once you have the financial data ready to input, a good business planning tool should automatically calculate and generate the financials needed for your business plan.
    • Check Boxes – This may sound simple, but having features like checkboxes improve the overall user experience in a business planning tool. For example, your business planning software might list several options that you want to highlight in a section, and just clicking a box will automatically fill it in for you.
    • Sample Text – Being able to fill in pre-defined text lines or sections makes the business plan creation process faster, but sometimes you need more clarity on what you are supposed to write. Having sample text within these fields can help you better understand what to include for your own company.
    • Customizable Formats – Not every business plan needs the same format. Great business planning software tools will let you skip over sections that do not apply to your own business.

     

    The Price of Business Plan Software

    Like most software, the prices of business plan software tools vary greatly from free to hundreds of dollars. The free options typically lack the best features and are not as customizable as paid software options. That being said, it is certainly possible to find software that does everything you need and stays within your budget.

     

    Picking the Best Business Plan Software for You

    The most important thing you can do when picking the best business plan software for your needs is research. You should avoid paying for extra features that you do not need, but remember that many of the free business planning software options do not have the features you want. The best strategy is to find an option within your budget that does what the best business plan software should do: make the business planning and creation process faster and easier for you.

     

    Popular Business Plan Softwares and Templates Compared

    Business Plan Software

    PlanBuildr

    planbuildr

    Overview: PlanBuildr is the fastest-growing business plan software in the world. The software uses fill-in-the-blank questions that help guide you as you create your business plan and includes financial modeling and other features usually only seen with more-expensive business plan software options.

    Key Features: User-friendly, financial forecasting

    Price: Free and Paid Options

     

    Growthink’s Ultimate Business Plan Template

    Growthink's Ultimate Business Plan Template

    Overview: Growthink’s Ultimate Business Plan Template is the industry standard for business plan templates and has helped launch and raise funding for thousands of businesses. Growthink’s business plan template comes packed with features and gives you access to a member’s area where you can find additional support.

    Key Features: Investor-focused, lifetime access

    Price: $97

     

    LivePlan

    liveplan vs growthink

    Overview: LivePlan has some great features, including sample pitches, financial forecasts, and resources that help you learn more about the important aspects of business plans as you create your own. The biggest issue many users will face is the time it takes to learn how to use the software and the overall user-friendliness of LivePlan’s interface.

    Key Features: Financial forecasting, educational resources

    Price: (Standard) $20 per month or $180 per year | (Premium) $40 per month or $360 per year

     

    PlanGuru

    planguru

    Overview: PlanGuru offers a wide range of forecasting options that help you add all of the key financial and non-financial projections needed for a good business plan, which many investors might appreciate. PlanGuru’s main downfall is its price tag, which makes it an inaccessible business plan tool for many small business owners.

    Key Features: Great forecasting capabilities, scenario analysis

    Price: $99 per month or $899 per year

     

    ABS Ultimate Business Planner

    abs ultimate business planner

    Overview: The ABS Ultimate Business Planner offers resources for creating business plans and includes numerous sample business plans to reference when writing your own. The business plan builder takes you step-by-step through the business plan writing process and makes suggestions along the way. Using the ABS Ultimate Business Planner is a bit sluggish, however, and the product has not gone through many changes since its initial launch, making it feel outdated.

    Key Features: Sample business plans included, good financial planning

    Price: $99

    The_Secret_to_Highly_Effective_Marketing_Header-V2Let me go right out and tell you the secret to highly effective marketing: it is to focus on and improve your “conversion rates” in each area of your marketing.

    In this article, I’ll discuss 4 key conversion points, how a 20% increase to each will give you exponential results, and specific tactics to achieve such results.

    The_Secret_to_Highly_Effective_Marketing_20-Improvements-V2What 20% Improvements Do To Overall Results

    Let me start with an example.

    Let’s say your competitor runs an advertisement that reaches 10,000 target customers and gets these results.

    • 1 percent response rate (response rate means that prospective customer visited competitor’s website, went into their store, called them, etc.)
    • 35 percent conversion rate (conversion rate means the responding customer then purchases)
    • $500 price per widget (widget being the item sold by your competitor)
    • 1.5 widgets per buyer (average buyer purchases 1.5 widgets in initial order)
    • 30 percent profit margin
    • 10 percent repurchase rate (10% of customers buy from your competitor again)

    Assuming the ad reached 10,000 target customers, your competitor’s gross profit from the ad would have been $8,662.50 (minus the cost of the ad).

    Now let’s assume that your company did a 20 percent better job on each of these factors. Your results would be as follows:

    • 1.2 percent response rate
    • 42 percent conversion rate
    • $500 price per widget
    • 1.8 widgets per buyer
    • 36 percent profit margin
    • 12 percent repurchase rate

    Now let’s look at the results.

    If your ad reached the same 10,000 target customers, your gross profit would be $19,596.

    That’s 2.3 times greater than your competitor’s.

    Now, what would happen if you generated 2.3 times greater profits than your competitors every time you ran an ad?

    The answer is that you would absolutely dominate them.

    Now, the key marketing secret that I’m sharing with you here is that you don’t have to revolutionize your marketing system. Rather, small, 20% improvements in each part of your system lead to revolutionary results.

    So, here are some ways in which you can improve each part of your marketing system.

    Finish Your Marketing Plan in 1 Day!

    Don’t you wish there was a faster, easier way to finish your business plan?

    With Growthink’s Ultimate Marketing Plan Template you can finish your plan in just 8 hours or less!

    Click hereto finish your marketing plan today.

     

    The_Secret_to_Highly_Effective_Marketing_Response-RateResponse Rate

    The more you know about your customers’ wants and needs, the more easily you can design advertisements that appeal to them.

    And the more you know about them, the better you could craft a unique selling proposition (USP) to attract them.

    For example, if you are a local hardware company and you know your typical buyer is a busy male with a wife, kids, and dog, you could easily craft ads with a higher response rate.

    You could also boost response rates by developing better offers that attract customers, such as an offer for a 90-day money-back guarantee.

    The_Secret_to_Highly_Effective_Marketing_Conversion_RateConversion Rate

    Remember, conversion rates are the percentage of prospective customers that you converted into actual customers.

    A few ways you could increase conversion rates include having a better process in place for training your staff and sales team, providing better employee incentives (e.g., commissions or bonuses for closing sales), or by developing and testing sales scripts that boost results.

    The_Secret_to_Highly_Effective_Marketing_Widgets-per-BuyerNumber of Widgets Per Buyer

    To increase the number of units purchased per transaction (including purchasing more widgets or related items), you can rely on similar tactics to increasing conversion rates such as better hiring, training, sales scripts and so on.

    McDonalds doubled its profits when it started asking “would you like fries with that?” and increased them again when it starting asking “would you like to supersize that?”

    The_Secret_to_Highly_Effective_Marketing_Profit_MarginsProfit Margins

    Better systematizing your business and implementing the right processes and procedures will allow you to generate higher profits per sale than your competitors.

    For instance, documenting standard operating procedures so tasks are done the same way by all employees generally decreases costs and thus increases profit.s

    The_Secret_to_Highly_Effective_Marketing_Repurchase-RateRepurchase Rate

    Finally, to increase repurchase rates, do a better job of communicating with your clients and showing them how special they are. For example, send them emails, call them, or send them letters in the mail to educate them and remind them that you have products and services that can help them.

    Summary

    In most cases, to dramatically increase sales and profits, there’s no need to dramatically revamp your marketing efforts.

    Rather, just getting 20% better in each core area will do the trick!

    Finish Your Marketing Plan in 1 Day!

    Don’t you wish there was a faster, easier way to finish your business plan?

    With Growthink’s Ultimate Marketing Plan Template you can finish your plan in just 8 hours or less!

    Click hereto finish your marketing plan today.

     

    The Secret to Highly Effective Marketing Infographic

    Below is an infographic of this article for quick reference.

    The_Secret_to_Highly_Effective_Marketing_Infographic-BPT

     

    Finish Your Marketing Plan in 1 Day!

    Don’t you wish there was a faster, easier way to finish your business plan?

    With Growthink’s Ultimate Marketing Plan Template you can finish your plan in just 8 hours or less!

    Click hereto finish your marketing plan today.

     

    Recommended Slideshare

    While I strongly recommend the 20% improvement approach to increasing your marketing effectiveness, if you’re looking for inspiration to create a world-class marketing campaign, we put together the slide presentation below showing “The Greatest Marketing Campaigns of All Time.”

    Venture-Capital-vs-Angel-Investors-Whichis-Right-for-You-HeaderWhen seeking equity funding for your business, the two primary options are angel investors and venture capitalists.

    This article will teach you the difference between these two types of investors and help you determine which one is right for you.

     

    Venture-Capital-vs-Angel-Investors-Whichis-Right-for-You-DifferencesThe Difference Between Angel Investors and Venture Capitalists

    Angel investors are individuals who invest their own money in companies.

    A venture capitalist, who typically works as part of a venture capital firm, invests the money of others hoping to get a handsome return.

    The primary difference between angel investors and venture capitalists is that venture capitalists invest solely for return on investment (ROI). That is venture capitalists make investment decisions based on the ROI they expect or hope to receive from their investment.

    While angel investors care about ROI too, they often have other motivations such as:

    • Knowing or liking the entrepreneur and wanting to see them succeed
    • Ego: feeling good about investing in specific firms and having others know they invested
    • Perks: as an equity holder, they are sometimes entitled to perks (e.g., if investing in a restaurant, they can go there and receive free meals and special attention)

     

    Venture-Capital-vs-Angel-Investors-Whichis-Right-for-You-VC-CriteriaVenture Capital Criteria

    There are several criteria venture capitalists (VCs) use when judging whether to invest in a company or not. These criteria will help you understand whether VCs or angel investors are most appropriate for you.

    Venture-Capital-vs-Angel-Investors-Whichis-Right-for-You-TractionTraction

    More and more VCs will only fund companies if they have revenues or, at least, beta customers or a prototype built. If you have not achieved any of these milestones, then angel investors are more appropriate.

     

    Venture-Capital-vs-Angel-Investors-Whichis-Right-for-You-FundingFunding Requirements

    Another key criterion is how much money you need to raise. If you need to raise less than $1 million, generally you should seek angel investors. Most venture capital firms don’t invest less than $1 million or $2 million dollars.

     

    Venture-Capital-vs-Angel-Investors-Whichis-Right-for-You-SectorSector

    Most VCs have very specific sectors in which they focus. For instance, some VCs focus exclusively on the Healthcare sector. Others only invest in software. Nearly all focus on the technology sector since such ventures have the highest chance of growing quickly and getting to a large exit (sale of company or IPO).

    Conversely, most retail or services business grow more slowly, and although they may be great investment opportunities, they are more suitable for angel investors.

     

    Venture-Capital-vs-Angel-Investors-Whichis-Right-for-You-InfographicGeography

    Most venture capitalists only invest (or strongly prefer to invest) within a certain geographic range.

    Most VC firms invest within 150 miles of their location. For angel investors, 70% of angel investments are made within 50 miles of the angel’s home or business location.

    So, if you are located far away from VC firms, then angel investors are probably a better option.

     

    Venture-Capital-vs-Angel-Investors-Whichis-Right-for-You-Angel-FirstA Common Scenario: Raising Angel Funding THEN Venture Capital Funding.

    A very common scenario is for a company to start by raising angel funding and then VC funding later.

    It generally works as follows. You raise your initial funding from the angel investors, which is usually a smaller amount, such as $50,000 to $500,000.

    You use that funding to progress your business, to create a prototype, to get beta customers and/or to ideally generate revenues. Once you’ve achieved such milestones, you seek venture capital. In fact, you might raise multiple rounds of venture capital. You might start with a $3 million round of venture capital to get to the next level of success, and then you might raise a $10 million, or a $20 million, or even a $50 million round of venture capital later.

    One of the most famous examples of pursuing this funding path is Google.

    Google initially raised funding from friends and family, and from credit cards. It then received angel funding from Andy Bechtolsheim.

    The funding from Bechtolsheim allowed Google to achieve milestones and grow. Google subsequently raised an initial amount of venture capital, then larger amounts of venture capital, and eventually Google went public.

    Conclusion

    While there are differences in funding deal terms (e.g., how much equity they take, whether they take a board seat, etc.) between angel investors and venture capitalists, the bigger and more important difference is which type is more relevant to fund your business in its current state.

    Without funding your business can’t grow to its fullest, so make sure to go after the investor type that is best suited for you.

    Venture Capital vs Angel Investors Infographic

    Below is an infographic of this article for quick reference.

    Venture Capital vs Angel Investors Infographic

     

    Recommended Slideshare

    To further help you decide between venture capital and angel investors, we put together the slide presentation below to show you “The Key Differences Between Venture Capital & Angel Investment.”

    WritingBusinessPlansforInvestorsHeader

    The overarching question that you must answer when writing a business plan for investors is this: what’s “in it” for the investor?

    To accomplish this, you need to put yourself in the investor’s shoes to think about what they care about.

    What should be “in it” for them is the opportunity to invest in a business that has huge upside potential and low downside potential. With regards to low downside potential, I’m referring to a low risk of failure.

    The specific 6 questions to answer in your business plan to accomplish these goals are below.

    Business_Plans_for_Investors_How_Big_Is_Opportunity

    Size of the Business Opportunity  

    The first question is how big the business opportunity is, and is it growing?  To answer this, you need to provide information on the size of the market in which you’re competing and trends affecting the market.

    Business_Plans_for_Investors_Financial_Implications

    Financial Implications of Investing  

    The next question that you must answer for an investor has to do with the financial implications.

    Specifically:

    • How much money are you asking the investor for?
    • What are you going to do with that money?
    • What are the projected financial results? For example, what do you expect revenues will be in year one, in year three, in year five?  What are expected net income in year one, year three, year five? Etc.

    Business_Plans_for_Investors_Exit_Strategy

    Exit Strategy?

    Your exit strategy is critical when writing a business plan for investors since the exit strategy dictates how the investor will ultimately receive payback for their investment and get their money out.

    Consider this example. You start a company and you grow it to $5 billion in sales. If you keep that company private, then an equity investor may not have the ability to get their money out.

    So the exit plan details how the investor will cash out or make money.  Usually, the exit plan is going public or more likely is selling your company.  There’s a much greater likelihood that a company is sold than that it will go public.  So if the prospect is you eventually selling your company, you need to answer questions in your business plan such as:

    • Who are the likely buyers of your company?
    • Why would they buy you? More specifically, why would they buy you versus possibly building a competing business or strengthening or growing their own business?

    Business_Plans_for_Investors_Management_Team

    Management Team

    The next critical question to answer when writing your business plan for investors is who is on your management team and who will you add to your management team later?

    This is key because most investors, or, at least, the smartest investors, are betting on the management team as much as they’re betting on the market opportunity.  You see, even if you have the greatest business idea in the world, if the management team can’t execute on it, then the business will fail.

    One of the great examples of this is the story of PayPal. PayPal was formed by great entrepreneurs including Peter Thiel, Elon Musk, and Max Levchin. Clearly PayPal had a great management team. However, the original PayPal concept which was to allow one PDA (Personal Digital Assistant like a Palm Pilot) to pay another PDA failed. It just didn’t catch on.

    But the management team was smart enough to recognize that they could use their technology to allow one person to pay another person or a company online and they basically launched a new service which is PayPal as we know it today. PayPal became a huge success that was sold to eBay for over $1 billion.

    So that’s why you need to answer in your business plan this key question: what is it about your management team that makes you qualified to execute on the business opportunity. Importantly, if you’re currently missing people on your team, document the qualifications of people you plan to hire to fill such positions.

    Business_Plans_for_Investors_Risk_Factors

    Risk Factors  

    Every business has risk factors, and the earlier on in your business, the more risk factors. For example, if you currently have an idea for a new product, risk factors include:

    • Whether or not you will be able to design the product
    • Whether you could cost effectively manufacture the product
    • Whether consumers/businesses want/will buy the product
    • Whether you can cost effectively market the product
    • Whether you could build a quality management team that can execute on the opportunity

    The more risk factors that you’ve already overcome, the better. And importantly, be sure to document each of these accomplishments in your business plan.

    Business_Plans_for_Investors_Barriers_To_Entry

    Barriers to Entry

    A final question to answer for investors is what are the barriers to entry. Specifically, once you start growing your company, what is there to prevent others individuals and companies from stealing your customers?

    The more you can show barriers to entry, how once a customer comes to you they’re probably going to stay for a long time, the better job you’re going to do in convincing investors to fund you.

    Remember: Answer What’s “In It” For the Investor? 

    In summary, when writing a business plan for investors, be sure to answer the questions that help prove to the investor that your business that has huge upside potential and low downside potential.

    The 6 key questions to answer, once again, are:

    1. How big is the business opportunity and is it growing?
    2. What are the financial implications of investing in your company?
    3. What is your exit strategy?
    4. Who’s on your management team?
    5. What risk factors have you already overcome?
    6. What are the barriers to entry?

    Answer these questions well, and funding will be yours.

     

    Writing Business Plans for Investors Infographic 

    Below is an infographic of this article for quick reference.

    Writing Business Plans for InvestorsInfographic

    Recommended Slideshare 

    Writing a great business plan is key to getting investors to fund you. So you understand other helpful tactics and strategies, we put together the slide presentation below to show you “Sure Fire Ways to Impress Investors.”

    StartupBusinessPlanHeader

    Launching a new business is an exciting time. You’re eager to move things forward and begin building your dream.

    However, in developing the perfect startup business plan, there are four keys you must follow.

    Below you’ll learn those 4 keys and the 10 elements you must include in a winning startup business plan.

    BONUS Alert: at the bottom of this article, you will find a free business plan template you can download and complete.

     

    ViableMarket

    1. Market Viability

    The first key to successfully launching a new business is to make sure you have a viable market. A viable market means that the market size is big enough to support your company, and ideally is growing in size. Conversely, if your market is too small, then you can’t succeed.

    Let’s use an example. Let’s say that I want to offer pet cleaning services in my town and research shows there are only 18 people in my town who own pets. In this case, even if I get 100% of the market to use my services, and the average person spends $100 a month, this business could never generate more than $1,800 a month in revenue, and doesn’t have much growth opportunity. As such, this is not a viable market (unless I’m satisfied with a business generating $1800/month in sales).

    Because this is so important to the success of your business, be sure to thoroughly conduct market research to prove your market’s viability.

    ActionPlan

    2. Action Plan

    The second key to successfully launching a new business is to document your action plan. To do this, write down the precise accomplishments you hope to achieve:

    • Monthly for the next six months
    • Quarterly for the following two quarters, and then
    • Annually for the following two years

    For example, you may write that in the current month, you will create your website.  Next month you conduct market research to determine underlying customer needs. The month after that you will hire your first employee. The following month you will start advertising your business. Then the following quarter you will make 100 phone calls per day to gain your first three customers.

    By specifying precisely what you need to accomplish during each time period, you gain a better understanding of how your business should progress and the time and/or funding requirements of each activity. Equally, if not, more importantly, it forces you to set precise goals. The goals keep you focused and help you avoid being distracted by other opportunities and mundane tasks.

    Most entrepreneurs severely underestimate the amount of time and number of steps required to launch a business.  By creating a detailed action plan month-by-month, particularly for the first six months, that lays out your plan, you will gain a better understanding of what’s required of you, and ultimately be much more successful.
    CustTraction

    3. Customer Traction

    The next key to successfully launching a new business is to gain customer traction quickly.

    “Customer traction” is when customers test and/or buy your product or service.  The earlier the traction you can get, the more successful you will be in launching your business.

    Importantly, this involves getting your product or service into the hands of prospective customers as quickly as possible.  A lot of times we refer to this initial product as the MVP or Minimum Viable Product.  Your MVP is not the perfect, completed product that you ultimately envision, but it is a product that has enough functionality that customers can use it.

    Importantly, by getting your MVP in the hands of customers, you can learn what they like about it, what they don’t like, and if they might eventually buy it.  This customer feedback is critical to launching a successful business.

    You will get feedback with regards to price ranges customers might pay. You’ll learn the features they want and don’t want. This feedback tells you if you have a viable opportunity, that is if customers buy your product or service from you.

    Note that in certain cases, it’s hard to gain customer traction in the earliest stages of a business. For example, when launching a restaurant, it’s hard to gain full customer traction or feedback until you’ve built out your restaurant, staffed it, and so on.

    But still, there are creative ways to gain customer traction and feedback. For instance, perhaps you could set up a booth at a local festival, offer food and speak to customers. Figure out a way that gets your offering to customers quickly, as the feedback is often priceless.
    PackageintoPlan

    4. Business Plan

    To reiterate, there are three keys to successfully launching a new business.

    1. Make sure you have a viable market
    2. Document your action plan
    3. Gain customer traction as quickly as possible

    Once you’ve completed these steps, be sure to include them in your business plan. By detailing your market size and viability, your action plan, and the feedback and traction you’ve gain from customers, and combining this with other key information such as your marketing plan and financial model, you are on pace to create a business plan that investors and lenders will find irresistible.

    Your startup business plan needs to include 10 sections as follows:

    Business-Plan-Template-Executive-Summary1. Executive Summary: This section sums up your entire plan and gives the reader a quick overview of what your company does and why it will be successful.

    Business-Plan-Template-Company-Analysis2. Company Analysis: provides an overview of your company’s status. Are you newly conceived? Have you been around for years? Are you incorporated? Where?

    Business-Plan-Template-Industry-Analysis3. Industry Analysis: details your precise industry, its size, and trends that are shaping it.

    Business-Plan-Template-Customer-Analysis4. Customer Analysis: discusses the key customer segment(s) you serve. Answer questions such as: What are their demographics (e.g., age, income, or industry and function if B2B)? What are their psychographics (e.g., what websites do they frequent)?

    Business-Plan-Template-Competitive-Analysis5. Competitive Analysis: shows your direct (similar offering to similar customers) and indirect competitors (similar offering to different customers OR different, but related offering to similar customers) and their strengths and weaknesses.

    Business-Plan-Template-Marketing-Plan6. Marketing Plan: details your products/services you offer, your pricing strategy, your channel strategy (e.g., sell via a website, via partners, via wholesalers, etc.), and your promotions strategy.

    Business-Plan-Template-Operations-Plan7. Operations Plan: shows your short-term and long-term growth strategy and processes.

    Business-Plan-Template-Management-Team8. Management Team: includes your biography and biographies of other team members.

    Business-Plan-Template-Financials9. Financial Plan: provides an overview of your Income Statement, Balance Sheet and Cash Flow Statement, and discusses financing requirements.

    Business-Plan-Template-Appendix10. Appendix: includes any supporting information such as your full financial projections (Income Statement, Balance Sheet and Cash Flow Statement) and other key information such as patents, lease agreements, etc.

     

    Startup Business Plan Infographic

    Below is an infographic of this article for quick reference.

    Startup Business Plan Infographic

     

    Recommended Slideshare

    In thinking about your startup business plan and successful launch, we put together the slide presentation below to give you inspiration from 2015’s Most Succesful Start-ups:

    Your startup business plan is key to your success. Leverage the keys and elements you learned above to create a great business plan. Also, you can download this free business plan template to help you more quickly and easily create a winning startup business plan!

    Negotiating_with_Investors_HeaderFinding investors who want to fund your company’s growth is great.

    But if the terms they offer you aren’t good, then you have to pass. For instance, if they want to take 90% of the equity of your company, or control 100% of your Board Seats, then you lose too much control.

    In this article, you’ll learn two simple strategies for getting more favorable terms when negotiating with investors.

     

    Negotiating_with_Investors_Multiple-Investors-InterestedStrategy #1: Create a Bidding War

    The best strategy for getting favorable terms is to get multiple investors interested in your business.

    You’ve probably heard the phrase, “he who has the gold makes the rules.” This is particularly true in investing. The investor has the gold and thus makes the rules in terms of what type of deal terms they’ll give you.

    The best way to get the terms you want is to get multiple investors interested in funding your company. Then, you can essentially create a bidding war. For instance, if one investor says they’re willing to give you $3 million for 40% of your company, you can ask the other investors if they’re willing to beat that deal (e.g., give you $3 million for only 30% of your company). Once they do, you can go back to the original investor, and so on.

    The more interested investors you have, the easier it is to create a bidding war and to better negotiate because you have other options. When you have no other funding options, it’s very difficult to negotiate.

    Negotiating_with_Investors_Advisor2Strategy #2: Have a “Ringer” in Your Corner

    The second key strategy for getting favorable deal terms is to make sure you have a “ringer,” that is someone on your side who has successfully negotiated investment terms in the past.

    This person could be a lawyer, an investment banker, or other advisor who deeply understands each of the deal terms. For instance, if they don’t fully understand “equity dilution” or “stock options,” they can’t help you get the best terms.

    Negotiating_with_Investors_Funding-is-goalUltimately It’s the Raising of Funding That’s Key

    To reiterate, you will receive the most favorable funding terms by 1) getting as many interested investors as possible, and 2) having someone on your side with a track record of successfully negotiating investment deal terms.

    Ultimately, though, keep in mind that raising funding, and not deal terms, is your primary goal. Since, for many businesses, if you don’t raise funding, you’ll never launch or grow.

    Always consider this question: would you rather own 50% of a company that’s worth $10 million or 100% of a company that’s worth nothing?

    So, keep this ultimate goal in mind. But clearly, try for the optimum solution which is to raise the funding you need with the most favorable deal terms.

    Negotiating with Investors Infographic

    Below is an infographic of this article for quick reference.

    Negotiating_with_Investors_2_Strategies_to_Get_Favorable_Terms_Infographic

     

    Recommended Slideshare

    To further help you negotiate with investors, we put together the slide presentation below to show you “The 10 Most Common Mistakes Entrepreneurs Make When Raising Venture Capital” so you can avoid them!

    How_to_Find_the_Perfect_Venture_Capital_Firm_for_Your_Startup

    If you’ve never raised venture capital before, it’s a confusing process. Don’t worry, in this article, I’ll hand you the keys to finding the perfect venture capital firm.

    You’ll learn the key factors that distinguish venture capital (VC) firms from one another, and important terms like “dumb money” and “smart money.”

     

    How_to_Find_the_Perfect_Venture_Capital_Firm_for_Your_Startup_Find-VC-IntroFind VC Firms That Focus On Companies Like Yours

    The key to finding the right venture capital firm is to find one that focuses on funding companies just like yours. This is because venture capital firms typically focus in a number of ways as detailed below.

    How_to_Find_the_Perfect_Venture_Capital_Firm_for_Your_Startup_Geography2
    1. Geography

    One way in which venture capital firms focus is via geography.

    Most venture capital firms prefer to invest in firms located within 150 miles of their office. This geographic proximity allows them to more easily meet with the companies with which they invest and offer advice.

    There are plenty of exceptions to the geography “rule,” but particularly for initial rounds of venture capital, odds favor finding a local VC firm.

    How_to_Find_the_Perfect_Venture_Capital_Firm_for_Your_Startup_Sector2. Sector

    Most venture capital firms only fund companies in certain sectors. Some focus on software companies. Other VC firms focus on healthcare and/or medical device companies. Some focus on nanotechnology. And still other focus on multiple (but rarely all) sectors.

    It is important to target venture capital firms who are actively seeking companies in your sector. If not, the chances of them funding you are slim.

    How_to_Find_the_Perfect_Venture_Capital_Firm_for_Your_Startup_Stage3. Stage of Development

    The final way in which venture capital firms focus is on the stage of development. For instance, some VC firms will only fund companies that have revenues. Others might insist your company, at least, have a prototype. And still other VC firms only fund companies that have over $10 million, or even $100 million in revenues.

    How_to_Find_the_Perfect_Venture_Capital_Firm_for_Your_Startup_Paring-Down-ListParing Down Your List

    To find the perfect venture capital firm, find a venture capital directory (there are many of these online) and then search by geography, sector and stage as specified above. This will give you a great initial list of firms that might be the perfect fit for you.

    Next, you need to visit each VC firm’s website to pare down your list as follows:

    How_to_Find_the_Perfect_Venture_Capital_Firm_for_Your_Startup_Portfolio-CompaniesA. Portfolio Companies

    Virtually all VC firms list their portfolio companies (the companies they have funded). Look at these companies to make sure they don’t include any of your direct competitors. Clearly, if they have a vested interest in a direct competitor, you must remove them from your list because they won’t fund you.

    Next, look at their portfolio companies to see if any could be good partners. For example, if your product or service could help one or more of their portfolio companies, this will make them more interested in your firm.

    How_to_Find_the_Perfect_Venture_Capital_Firm_for_Your_Startup_Team-MembersB. Team Members

    Next, review the individual team members of the venture capital firms that remain.

    Particularly look at the partners of the firms and what boards they currently sit on or have sat on. This will give you a sense of the types of businesses and areas in which they have great expertise.

    If they sit or have sat on a board in your industry, they will most likely quickly understand your value proposition and be in a good position to fund you and provide value (advice, industry connections, etc.).

    How_to_Find_the_Perfect_Venture_Capital_Firm_for_Your_Startup_Smart_MoneyAlways Look for “Smart Money”

    This “value” is important since there are two types of money: smart money and dumb money. Dumb money is anyone that can provide you money. Clearly if someone will give you a $5 million check, it’s a good thing.

    However, smart money is always better. Smart money is the $5 million check plus intelligence and help. If an investor can provide advice, introduce you to customers and partners and potential team members, that’s value that could help your company ultimately be successful.

    Summary

    In summary, to find the perfect venture capital firm, start by finding firms that fit your geography, sector and stage. Next, pare the list down by looking at who they’ve funded and their team members.

    Then, reach out to these team members (email is best) with a compelling message as to why they should speak with you and learn more about your business.

    Finding Venture Capital Infographic

    Below is an infographic of this article for quick reference.

    How_to_Find_the_Perfect_Venture_Capital_Firm_for_Your_Startup_Infographic

     

    Recommended Slideshare

    To further help you find venture capital, we put together the slide presentation below to show you “The 10 Most Common Mistakes Entrepreneurs Make When Raising Venture Capital” so you can avoid them!

    How to Find Angel Investors_HeaderFinding angel investors is a common need for entrepreneurs. With an angel investor, your company can be poised for great growth.

    Without one, unfortunately, your great idea might remain in your head, for it doesn’t have the funding to flourish.

     

    The 2 Types of Angel Investors

    In discussing how to find angel investors, we need to start by identifying the two types of angel investors.

    One type of angel investor I call public angel investors. The second is what I refer to as private angel investors.  Each has their advantages and disadvantages, as you’ll learn below.

    How to Find Angel Investors_Public-AngelesPublic Angel Investors

    Public angel investors are angel investment groups or individual angel investors that you can find online and/or specify themselves as angel investors.  For instance, you can do an online search on angel investor groups in your area and will most likely find local angel groups.  Such groups work together on finding companies to fund and vetting them. They also pool their money together to enable them to invest in multiple businesses in order to have a portfolio of angel investments, which is generally the best investment strategy. Because you can find these angel groups online, I refer to them “public” angels.

    The second type of “public” angel is someone who publicly identifies himself or herself as an angel investor. By going to a site like LinkedIn and searching the keyword “angel investor,” you will find such individuals and then contact them.

    The advantage of “public” angel investors is that they are easy to find. The disadvantage is that because they are easy to find, everyone finds them. That is, they are constantly being approached with investment opportunities and can only fund a tiny portion of those that they see.

    How To Raise Funding from Angel Investors


    If you want to raise your first $100,000 (or more), click below to learn my battle-tested, 6-step funding formula for raising funding from angel investors

    Angel Investor Funding

    Click here to raise angel funding for your business today.


     

    How to Find Angel Investors_Private-AngelsPrivate Angel Investors

    Understanding “private” angel investors is really exciting because there are many, many more private angels than public ones. Private angel investors are people who have either made just one or a small amount of angel investments or who have the financial ability to make an angel investment but have not.

    Most “private” angel investors are what I call “latent” angel investors. They are  “latent” because they have the means and interest in making an angel investment but they just don’t have any angel investments that they know about.  They’re just not getting approached with businesses to fund.

    These angels are my favorite because they are not receiving tons of business plans.  Conversely, a public angel or a venture capital receives tons of investment opportunities, and as a result, they must be much more stringent in their funding criteria. And ultimately, the chance of them funding your business is much less because they have so much else to choose from. But with “private” angels, who have much less to choose from, there is a high likelihood that they’re going to choose you.

    How to Find Angel Investors_Finding_Latent_InvestorsFinding Private or “Latent” Angel Investors

    So how do you find these private or latent angel investors?

    The way to do so is via networking.  You network by asking who do you know and who do others know.

    Ask your lawyer, “Who do you know that might be interested in funding my business?”  Ask your uncle. Ask your accountant. Ask your current friends. Ask your friends from high school or college. Ask other members of your religious congregation. Ask everyone, “Who do you know that could fund this business?”

    And importantly, ask other business owners. We all go into retail establishments often and many times you’re speaking with the owner of the business.  Ask the owner, “Hey, is this something that you’d fund?” Or ask, “which other business owners do you know that you can introduce me to?”  Most business owners know other business owners since often their members of local Chambers of Commerce together.

    The name of the game here is networking.  Networking allows you to find other business owners, executives and/or other people with money.

    How to Get Started

    The easiest way to get started with raising funding from angel investors is to target “public” angels. As discussed above, you can go on any search engine or LinkedIn to quickly and easily find these investors.

    Reach out to them via emails and try to attain a meeting. Remember that the odds of any of these investors funding you are low since they review so many other investment opportunities. But, if you speak with enough, one may fund you. And many may refer you to others and/or provide valuable feedback.

    While you’re reaching out to the “public” angels, start your networking process to find “private” angels. While these angels are much harder to find, remember that when you do find them, they have a much higher likelihood of funding you.

    How To Raise Funding from Angel Investors


    If you want to raise your first $100,000 (or more), click below to learn my battle-tested, 6-step funding formula for raising funding from angel investors

    Angel Investor Funding

    Click here to raise angel funding for your business today.


     

    How to Find Angel Investors Infographic

    Below is an infographic of this article for quick reference.

    How-to-Find-Angel-Investors-Infographic-BPT

     

    Recommended Slideshare

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    Business-Plan-Exit-Strategy-Section-Header

    If you’re looking for equity funding, the exit strategy section of your business plan is very important. This section details how you plan to eventually “exit” the business (usually via the sale of your company or an IPO) so that investors can get a return on their investment.

    This article details the importance of your exit strategy and the two keys to include in this section of your business plan.

    Business-Plan-Exit-Strategy-Section-Exiting-A-BusinessExiting A Business

    “Exiting” is also known as cashing out of your business. While many people think of an IPO (initial public offering) as an exit (which it is), the most likely successful exit for a business by far is selling the company.

    It’s called an “exit” when you sell the company because that is how you exit the business. That is how you end your ownership and the equity owners’ (i.e., investors) ownership of the business, and that’s how they “cash out” (get their money back plus their return).

    Finish Your Business Plan in 1 Day!

    Don’t you wish there was a faster, easier way to finish your business plan?

    With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

    Click here to finish your business plan today.

     

    Let’s use an example. An investor gives you $1 million for 50% of your business. You grow the business and sell it for $100 million. You will receive a check for approximately $50 million, and the investors will get a check for approximately $50 million.

    That’s how the investor cashes out. Barring other provisions in your funding agreement, if you never sold this business, the investor who gave you $1 million would never get a return on their investment no matter how successful your company became. This is why the exit strategy business plan is so important.

    Business-Plan-Exit-Strategy-Section-Most-likely-exit1. Detail Your Most Likely Exit Strategy

    There are two main components to include in the exit strategy section of your plan.

    The first is to detail your most likely exit strategy. Is it go public? Is it to sell the company to an acquirer? Is it to sell it to your employees?

    Take a moment to think about your most likely exit and then document it.

    Business-Plan-Exit-Strategy-Section-Prove-It2. Prove Your Exit Strategy

    The second component is most important, and it is to prove the likelihood of your exit strategy to the best of your ability.

    For example, if your exit strategy is to go public, then show other companies in similar markets or positions that have gone public in the last three to five years.

    Provide research including the names of those companies, the dates they went public and the returns their investors received.

    Conversely, if your most likely exit strategy is to sell your company, list potential buyers. Discuss not only who they are and their current financial positions (e.g., estimated total revenues if a private company), but the reasons they’d want to purchase a company like yours. Ideally, show other companies these firms have acquired in the past and at what price points.

    Finally, as much as possible, show other companies that were similar to yours that were recently acquired. As much as possible, determine the sale price of these companies and the returns their investors might have received upon the acquisitions.

    Making Your Exit Strategy Section Shine

    In summary, your exit strategy section should discuss your most likely exit or preferred exit, and then prove the potential likelihood of that exit. This gives investors the confidence they will ultimately get a nice return on their investment in your company.

    In general, the more research you do here the better; as this will improve your case as to the potential of eventually realizing a large exit. Likewise, this research might help you identify strategies to increase the likelihood of any exit. For instance, you might find that acquirers in your market tend to first become customers or partners of the firms they acquire. In such a case, you might decide to adopt this same strategy.

    Finish Your Business Plan in 1 Day!

    Don’t you wish there was a faster, easier way to finish your business plan?

    With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

    Click here to finish your business plan today.

     

    Exit Strategy Example Infographic

    Below is an infographic of this article for quick reference.

    Exit Strategy Business Plan Infographic

     

    Recommended Slideshare

    For inspiration when creating the exit strategy section of your business plan, we put together the slide presentation below to show you some Killer Company Exits (companies how have exited for BIG dollars).

    How_to_Create_a_Business_Plan_in_One_Day_Header

    Your business plan is an absolutely critical document in determining the success of your business. That said, it’s probably not something you should rush. However, there are certainly times when you need to create a business plan quickly since you are so busy with other tasks. This article explains how to do just that. 

    You’ll first learn 3 key organizational tips and then 2 tools that will allow you to more efficiently create your business plan. You’ll then see what research to assemble before starting your plan. Finally, you’ll learn what to put in each of the 10 sections of your business plan.

     

    How_to_Create_a_Business_Plan_in_One_Day_2-keysThe 2 Keys to Your Success

    The key to successfully creating your business plan in just one day is to:

    1. Be highly organized
    2. Have the tools you need

    With regards to organization, it’s very similar to having a written shopping list when going to the supermarket. Better yet, a written list organized by aisle. Since we all know that when you go to the supermarket without a list, you either waste time going to the same aisle twice or forget something (and need to go back or live without it).

    With regards to having the right tools, an analogy probably isn’t needed. But remember Abraham Lincoln’s famous quote, “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” Now imagine chopping down the tree if you didn’t even have the right tool; that is, you didn’t even have an axe!

    How_to_Create_a_Business_Plan_in_One_Day_Be-OrganizedOrganization

    With regards to organization, I suggest the following:

      • Block out time to complete your plan. If you budget 8 hours for the total plan completion, I suggest four 2-hour blocks. During those blocks, you must remain 100% focused. That means no answering the phone, no checking email, no looking at social media, etc. Every time you lose focus, your productivity will suffer sorely.
      • Get the input you need from others before sitting down to write your plan. For example, if you have a marketing manager and she has the key details about your marketing plan, consult her prior to writing your plan. At a minimum, you should have a consensus about the key marketing elements such as how you will promote your company.
      • Assemble any business documents (e.g., incorporation papers) you have accumulated since your organization’s inception.

     

    How_to_Create_a_Business_Plan_in_One_Day_ToolsTools

    With regards to tools, have these handy:

      • A business plan template or a business plan outline: these will ensure speed since if you already have a document with section headers and/or questions to answer, it will be much faster than starting with and completing a blank document.
      • Appropriate word and spreadsheet processing software. While Microsoft Word and Excel are the standards, more and more options like Google documents are available. Use whatever word and spreadsheet processing software you are most comfortable with. Just make sure you have both as completing your plan without them will take much longer.

     

    How_to_Create_a_Business_Plan_in_One_Day_Market-ResearchMarket Research

    Finally, ideally, you can complete the key market research for your business plan before sitting down to write your business plan.

    This research includes:

      • Industry Research: which answers key questions such as how large your industry is and what trends, if any, are shaping it.
      • Customer Research: which answers questions about your target market such as how many people comprise it, what their demographic make-up is (e.g., age, gender, socioeconomic status), etc.
      • Competitive Research: which details not only who your key direct and indirect competitors are, but their strengths and weaknesses.

     

    Finish Your Business Plan in 1 Day!

    Don’t you wish there was a faster, easier way to finish your business plan?

    With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

    Click here to finish your business plan today.

     

    Let’s Get Started

    Now that you’re organized and have the tools and market research you need, it’s time to get started on your plan.

    Below are the 10 key elements of your business plan and how to complete them most effectively.

    How_to_Create_a_Business_Plan_in_One_Day_10-key-elements

     

    Section 1: Executive Summary

    How_to_Create_a_Business_Plan_in_One_Day_Executive-SummaryV2Your Executive Summary is the most important part of your business plan, since if it doesn’t excite readers, they’ll never get beyond it to the rest of your plan.

    Complete your Executive Summary last, and have it include a brief synopsis of all the other sections of your plan. Of critical importance, you Executive Summary MUST answer why your business is unique. That is, what is it about you, your products/services, your market, your marketing plan and/or anything else that makes you extremely likely to succeed? Answering this is the cornerstone of not only a successful business plan but a successful business, so spend time on this one.

     

    Section 2: Company Analysis

    How_to_Create_a_Business_Plan_in_One_Day_Company-AnalysisYour Company Analysis gives a snapshot of the current state of your company. If you’ve incorporated, you’ll state your type of business (e.g, C-Corp) and the date of your incorporation (remember, you pulled out this documentation in the Organization phase above).

    Even if you’re just starting out, you can provide background information such as when and why your idea for the business was conceived.

     

    Section 3: Industry Analysis

    How_to_Create_a_Business_Plan_in_One_Day_Industry-AnalysisHere is where you’ll include the industry research you conducted above.

    Importantly, don’t just copy/paste a research report into your business plan. Rather, the ideal research helps prove the viability of your business. For example try to show how industry trends favor your success.

     

    Section 4: Customer Analysis

    How_to_Create_a_Business_Plan_in_One_Day_Customer-AnalysisAbove you identified your target customers, and conducted research into their demographic profiles. When targeting consumers, these profiles include factors such as their age, gender, and socioeconomic status as mentioned above. If targeting businesses, detail the types of businesses (e.g., size, location, industry) and the target contacts (e.g., title, function) within those businesses.

     

    Section 5: Competitive Analysis

    How_to_Create_a_Business_Plan_in_One_Day_Competitive-AnalysisThis is the final “research” section of your business plan, where you will detail your direct (similar offering to similar customers) and indirect competitors (similar offering to different customers OR different, but related offering to similar customers).

    For your top 3-5 direct competitors, document each of their strengths and weaknesses. Then document the strengths and weaknesses of your indirect competitors as a whole.

     

    Section 6: Marketing Plan

    How_to_Create_a_Business_Plan_in_One_Day_Marketing-PlanThere are four sub-parts to your marketing plan:

    1. The products and services you offer: document them

    2. Your pricing strategy: tell what it is; are you the low-cost provider? The premium cost?

    3. Your channel strategy: how will customers buy your products/services (e.g., sell via your website, via retailers, etc.).

    4. Your promotions strategy: how will customers hear about you: pay-per-click advertising, social media, etc.

     

    Section 7: Operations Plan

    How_to_Create_a_Business_Plan_in_One_Day_Operations-PlanHere you will document your growth plan.

    To do this, write down the next 6 months, the following 2 quarters and the following 2 years and detail the key accomplishments you plan to attain during those time periods.

    For example, if today were January 1, 2020, your operations plan would look as follows:

    • January 2020
    • February 2020
    • March 2020
    • April 2020
    • May 2020
    • June 2020
    • 3rd Quarter 2020
    • 4th Quarter 2020
    • Annual 2021
    • Annual 2022

    Once again, for each of these time periods, you would detail your key goals.

    Note that the reason we start monthly and then move to quarterly and annually is that it’s much easier to determine market conditions in the short term. Longer-term there is much more uncertainty and it’s thus harder to predict what will happen.

     

    Section 8: Management Team

    How_to_Create_a_Business_Plan_in_One_Day_Management-TeamIn your Management Team section, write the key facts about yourself and other key members of your team. This is often written the same way as the “Management Team” or “About Us” sections of most websites.

    Tell the past accomplishments of team members here. If you are planning to add key team members in the future, document the roles you will fill and the key criteria you will use to fill the roles.

     

    Section 9: Financial Plan

    How_to_Create_a_Business_Plan_in_One_Day_Financial-PlanThe Financial Plan includes two elements.

    The first element is completing, in a spreadsheet, your Income Statement, Balance Sheet and Cash Flow Statement. These three financial documents detail key information such as the profitability of your business and how much funding, if applicable, is needed to grow the business. Your full financial statements will appear in your Appendix.

    The second element is completing the section of your word document. In this section, you will show summary/top-level figures from your financial statements such as your Revenue and Profit projections for the next five years.

    You will also provide written commentary supporting your financials, such as how you will generate the sales you expect and any key assumptions you’ve made.

     

    Section 10: Appendix

    How_to_Create_a_Business_Plan_in_One_Day_AppendixYour Appendix will include any supporting information. As mentioned above, your full financial statements will go here. But also include any other information that supports your potential future success such as references from customers, signed contracts or purchase orders, etc.

     

    Finish Your Business Plan in 1 Day!

    Don’t you wish there was a faster, easier way to finish your business plan?

    With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

    Click here to finish your business plan today.

     

    The Time is Now

    You now have all the information you need to complete your business plan in just one day.

    Remember, start by organizing your efforts and making sure you have the right tools. This seemingly simple first step makes a huge difference.

    Then methodically make your way through the 10 business plan sections. Don’t allow yourself to be stumped in any one section. Rather, if you get stuck, move on and come back to it. This way, you’ll make lots of progress quickly, and most likely when you come back to the issue that stumped you earlier, you’ll already have conceived an answer.

     

    How to Create a Business Plan in 1 Day Infographic

    Below is an infographic of this article for quick reference.

    How_to_Create_a_Business_Plan_in_One_Day_Infographic

    Recommended Slideshare

    To further help you expertly create a business plan in one day, we put together the slide presentation below to walk you through the “10 Key Elements of a Business Plan.”

    Elevator-Pitch-Template-HeaderIn this article, you will learn what an elevator pitch is and why it is so important.

    You will then learn how to create a great elevator pitch for your business, using the comparative formula or elevator pitch template provided below.

    Elevator-Pitch-Template-What-is-an-elevator-pitchWhat Is An Elevator Pitch?

    An elevator pitch is a brief summary of your business. It is designed to quickly convey the key elements of your business to investors and get them interested.

    As the name “elevator pitch” implies, it’s derived from the amount of time you would have to speak to an investor if you were riding an elevator with them. Accordingly, the goal of your elevator pitch is to convey your message and get the investor interested in 60 seconds or less.

    Elevator-Pitch-Template-Why-elevator-pitches-are-importantWhy Elevator Pitches Are Important

    Most investors are constantly pitched with new ideas. As a result, if you can’t convey your story and gain their interest in 60 seconds, they’ll move on to the next opportunity. There are just so many hours in the day, and investors are too busy to invest time thoroughly reviewing all companies they come across. So, if you can’t convey your business quickly and effectively, you won’t receive funding.

    Similarly, venture capitalists generally work in teams. So, if one member of the venture capital firm is interested in funding your company, they need to present it to the others. In doing so, they need an effective elevator pitch. If they don’t have it, they’ll fail to convince the others to fund you.

    Elevator-Pitch-Template-Great-Elevator-Pitch-FormulaA Great Elevator Pitch Formula: Comparing Yourself to Another Successful Venture

    One way to concisely explain your business to others is to compare it to another successful business they know and to show how you’re different.

    One company who did this well was Bookswim. Bookswim’s elevator pitch was this: “We are Netflix for books.”

    From just these five words, investors knew Bookswim was an online book rental company just like Netflix is an online movie rental company.

    Elevator-Pitch-Template-Simple-Elevator-Pitch-TemplateThe Simple Elevator Pitch Template

    If you’re able to compare and differentiate yourself from a successful company, that is a recipe for elevator pitch success.

    If that formula doesn’t work for you, or if you’re seeking a more comprehensive elevator pitch, use the elevator pitch template for your business below:

    A. Start by answering the following questions:

    1. What does your company do (start with phrases such as we help, we provide, we manufacture, we offer, etc.)?
    2. Who does your company serve (who are your customers? teenagers? entrepreneurs, new parents, etc.)?
    3. What key benefits do you offer your customers? (e.g., higher quality/more success, lower cost, more reliable, etc.)?Why is your company better than competitors? (e.g., even faster, less expensive, etc.)? What information gives your firm more credibility (e.g., track record)?
    4. Is there a clear and clean business sector that your company fits into (e.g., restaurant, CPA firm, etc.)?

    B. Combine the key information from Questions 1-5 into a 35 word or less statement that describes your business.

    Say it aloud to make sure it sounds good and makes sense. Tell it to friends to make sure they “get” it. Tell it to employees to confirm that they can repeat it back to you.

    Here’s an example: Rick’s Bridal sells high-end wedding gowns and accessories to brides in New York City. For twenty years, Rick’s has served over 25,000 satisfied brides through our six locations.

    Elevator-Pitch-Template-PracticePractice Makes Perfect

    Importantly, you should write down/type up your elevator pitch and practice delivering it.

    The more you practice, the more easily you will concisely recite it within 60 seconds and the more natural it will sound.

    Finally, try delivering your elevator pitch to friends, family, and warm contacts first to get their feedback before giving your first pitch to real investors or lenders.

    Elevator Pitch Template Infographic

    Below is an infographic of this article for quick reference.

    Elevator Pitch Template Infographic

     

    Recommended Slideshare

    To further help you develop your elevator pitch, we put together the slide presentation below to show you “How to Craft a Killer Elevator Pitch.”

    Business-Plan-Template-HeaderThe right business plan template will allow you to quickly and easily complete your business plan.

    The key is to know the questions to answer in each section of your plan.

    Below is a great business plan template for you to use.

    Also, at the bottom of this article, you will find a free business plan template you can download.

    Here is your business plan template with each of the 10 sections you need in your business plan.

    business plan template executive summaryI. Executive Summary

    The Executive Summary is the first and most important part of your business plan template.

    In the Executive Summary section of your business plan, the key questions to answer are as follows:

    • What does your business do?
    • What market need does your business solve?
    • What are 4-7 reasons why your business will be successful?
    • How much capital, if any, are you seeking for your business?

    graph having uptrend with three horizontal bars with text company analysisII. Company Analysis

    In the Company Analysis section of your business plan, the key questions to answer are as follows:

    A. Company Profile

    • Where are you located?
    • When were you formed?
    • What is your legal entity form (e.g, LLC, C-Corp)?

    B. Company Vision/Mission Statement

    • What goals is your company trying to achieve?

    C. Past Accomplishments

    • What successes has your company already achieved?

    business plan template industry analysis

    III. Industry Analysis

    In the Industry Analysis section of your business plan, the key questions to answer are as follows:

    A. Market Need

    • What customer need are you fulfilling?

    B. Market/Industry Overview

    • In what market(s) do you compete?

    C. Market/Industry Trends

    • What are the key market trends and how do they affect you?

    D. Relevant Market Size

    • How large is your relevant market (the # of customers who can realistically buy from you)?

    E. Unique Qualifications

    • What qualifications make your business uniquely qualified to succeed)?

    business plan template customer analysis

    IV. Customer Analysis

    In the CustomerAnalysis section of your business plan, the key questions to answer are as follows:

    A. Customer Needs

    • What are the key needs of your target customers?

    B. Target Customer Profile

    • Who are your target customers? Give a detailed demographic profile.

    business plan template competitive analysis

    V. Competitive Analysis

    In the Competitive Analysis section of your business plan, the key questions to answer are as follows:

    A. Direct Competitors

    • Who are your direct competitors? What are their strengths and weaknesses?

    B. Indirect Competitors

    • Who are your indirect competitors? What are their strengths and weaknesses?

    C. Competitive Advantage

    • What are your competitive advantages? Are these sustainable (can competitors emulate them)?

    business plan template marketing plan

    VI. Marketing Plan

    In the Marketing Plan section of your business plan, the key questions to answer are as follows:

    A. Products and Services

    • What are your products and/or services?

    B. Branding and Promotions Plan

    • What is your desired brand positioning? How do you plan to promote your company’s products and/or services?

    C. Distribution Plan

    • How will you sell your products and/or services to customers? Directly? Through partners/distributors? Etc.

    business plan template operations plan

    VII. Operations Plan

    In the Operations Plan section of your business plan, the key questions to answer are as follows:

    A. Key Operational Processes

    • What are the key operational processes that your organization needs to accomplish on a daily basis to achieve success?

    B. Business Milestones

    • What milestones will you need to accomplish over the next 1-3 years in order to achieve success?

    business plan template management team

    VIII. Management Team

    The Management Team section of the business plan must prove why the key company personnel are “eminently qualified” to execute on the business model. The key questions to answer are as follows:

    A. Management Team Members

    • Who are the key members of your management team?
    • What are their backgrounds and bios?

    B. Management Team Gaps

    • Who do you still need to hire?
    • What positions will they fill?

    C. Board Members

    • Do you have a Board?
    • If so, who is it comprised of? What are their backgrounds?

    business plan template financial plan

    IX. Financial Plan

    In the FinancialPlan section of your business plan, the key questions to answer are as follows:

    A. Revenue Model

    • In what ways do you generate revenues?

    B. Key Assumptions

    • What key assumptions govern your financial projections?

    C. Topline Projections

    • What are your topline 5-year financial projections?

    D. Funding Requirements/Use of Funds

    • How much money do you need to start and/or run your business? What are the primary uses of these funds?

    E. Exit Strategy

    • How will equity investors be paid? How will debt investors be paid?

    business plan template appendix

    X. Appendix

    The Appendix is used to support the rest of the business plan. Include the following (if applicable) in the Appendix:

    • Projected Income Statements, Balance Sheets, and Cash Flow Statements
    • Technology: Technical drawings, patent information, etc.
    • Product/Service Details
    • Partnership and/or Customer Letters
    • Expanded Competitor Reviews
    • Customer Lists

    Business Plan Template Infographic

    Below is an infographic of this article for quick reference.

    Step by step guide to creating your business plan

     

    Recommended Slideshare

    To further help you expertly complete your business plan, we put together the slide presentation below to walk you through the “10 Key Elements of a Business Plan.”

    Summary

    Your business plan is a critical document in the success of your business. It forces you to think through the key strategic decisions before executing on them. It makes you map out your action plan. And it ensures you have a cohesive and thorough story to tell investors or lenders from whom you might be seeking funding. Use the above template, or download this free business plan template to type up your answers and create a winning business plan!

     

    Business-Plan-Mistakes-Header-NewIn showing you the six biggest mistakes to avoid in your business plan, it’s helpful to start with the goal of your plan. In general, this goal is to get someone else to say “yes.”

    That someone may be an investor or lender who you want to write you a check. It might be an employee you want to join your company. It might be a firm with which you want to partner. In any case, you want them to say “yes” to your plan.

    Thinking about it this way, you will realize that your business plan is essentially a marketing document. Its goal is to market your business to the reader and get them to say “yes.” Anything that could dissuade them from saying “yes” is thus a mistake.

    Below I will cover the most common mistakes.

    Business-Plan-Mistakes-Typos-Grammar1. Typos and Bad Grammar

    The first mistake to avoid in your business plan are typos and bad grammar. Consider the following statement/question a prominent venture capitalist once asked me: “If this entrepreneur can’t even put together a well-written business plan, then how could they possibly run a successful venture?”

    So, make sure your business plan doesn’t have typos and that it’s well-written. Likewise, make sure it visually looks nice. No one wants to read pages and pages of unformatted text.

    Business-Plan-Mistakes-Data2. Too Much Information

    The second mistake to avoid is having your business plan be a ‘data dump.’

    An example of a ‘data dump’ is adding tons of information to your business plan that is neither enticing nor easy to read. Your business plan can’t just be a bunch of information about your business. No one wants to read that. Remember, your business plan is a marketing document that markets your business to investors, lenders and/or other readers.

    So, instead of, for example, providing four pages of industry research with loads of statistics, include two succinct pages of research that offer select statistics. And most importantly, focus on why these statistics support the success of your business.

    Each piece of data included in your business plan should support why your business is a good opportunity for the reader.

    Business-Plan-Mistakes-Past_Accomplishments3. Mentioning Past Achievements

    The third most common mistake in your business plan is failing to discuss what your business has already accomplished.

    The best indicator of future success is past success. As such, if you’re able to show that in the last months or years your business has already accomplished specific tasks and/or milestones, this helps prove you’ll be successful in the future.

    So, be sure to highlight all key accomplishments your company has achieved to date.

    Business-Plan-Mistakes-Market-Size4. Exaggerating Your Market

    The fourth key mistake to avoid in your business plan is to overstate the size of your market.

    Rather, get as specific as possible as to the size of your relevant or specific market.

    Let’s use the healthcare market as an example. If someone says they’re competing in the $1 trillion healthcare market, that is clearly not a relevant market. Even if they say they’re competing in the multibillion-dollar medical device market, a sub-segment of the healthcare market, they are still not being targeted or relevant enough.

    You must continue to pare down your market to get the relevant market, such as the stent segment of the medical device market. Then, as well as you can, determine the size of that relevant market.

    Business-Plan-Mistakes-Cusotmer-Needs5. Not Focusing on Your Customers

    The fifth biggest mistake to avoid in your business plan is not focusing on customer needs.

    At the end of the day, your business will succeed or fail based on whether or not you satisfy customer needs. Your customers, with their checkbooks, ultimately determine whether your business prospers or fails. So spend time focusing on who your customers are, what their needs are, and proving that what you’re offering really caters to these needs.

    Business-Plan-Mistakes-Outrageous-Financial-Assumptions6. Unrealistic Financials

    The sixth and final mistake to avoid in your business plan is showing outrageous or outlandish financial assumptions.

    Rather, your financial assumptions in your business plan and specifically your financial model must be more realistic. For instance, if you say you expect $1 billion in revenue in your first year of operations, you will turn off any sophisticated investor.

    That’s because no company in the history of the world has ever achieved such revenues so quickly. While your business may be unlike any other, you should still research other companies to understand the most likely growth scenarios such as how fast your revenues can grow, how quickly you can hire and train employees, and so on.

    Most entrepreneurs haven’t created scores of business plans. Nor have most presented their business plans to experts who provided feedback. As a result, most business plans, unfortunately, exhibit one or more of the mistakes detailed above. Now that you know about them, yours won’t.

    Business Plan Mistakes Infographic

    Below is an infographic of this article for quick reference.

    Business plan mistakes infographic

     

    Recommended Slideshare

    In addition to business PLAN mistakes, there are many business mistakes to avoid. We put together the slide presentation below to show you “20 Business Mistakes to Learn From.”

    Business-Plan-Tips-HeaderThere is one business plan tip I give above all else, particularly if the goal of your business plan is to access funding.

    This tip is to treat your business plan like a brochure or marketing document with the key goal being to get readers excited about your company. This tip and other critical business plan tips are explained in detail below.

    Business-Plan-Tips-BrochureYour Business Plan as a Brochure

    When you create a brochure, you must determine they key value propositions that customers care about. For example, in the toothpaste business, certain brands promote whitening your teeth. Others promote anti-cavity properties. Some focus on fresh breath and still others promote all or several of these value propositions.

    What toothpaste companies do is very simple, but powerful: they figure out what their customers want, and then position their offering as the perfect solution. Importantly, in addition to simply telling customers their product is right, they prove it. For instance, they mention their ingredients, show before and after photos, or tell what percentage of dentists trust them.

    Business-Plan-Tips-Target-AudienceIdentify Your Target Audience & Needs

    Now, let’s move back to your business plan. Because a successful business plan does much of what the toothpaste companies do. The first thing to do when creating your business plan is to identify your target audience. This audience may, for example, be banks, angel investors or venture capitalists.

    Next, think about their needs. Their needs are generally to fund a company that’s going to give them the greatest potential for a high return on their investment with the lowest possible risk

    Business-Plan-Tips-Prove-CaseProve Your Case in Your Business Plan

    So, to write a business plan that gets you funded, you need to convince readers that you have a business with growth potential and with as little risk as possible.

    You also need to show you have a product or service with unique attributes. And you want to prove your market is large, and ideally growing, and present your proof in the form of market research and statistics.

    Finally, you want to prove the competence of your team. Show what your team has already accomplished in the past, in order to give readers the impression they can do it again.

    Business-Plan-Tips-Target-Additional-TipsMore Tips

    Some additional business plan tips to boost your chances of raising funding include:

    • Proofread your plan. Typos and/or grammatical errors will cause you and your plan to lose credibility.
    • Keep it concise: 15 to 25 pages is a great length for a business plan. Don’t bore your readers with useless information.
    • Create realistic financial assumptions: don’t show growth rates that no company in the history of the world has ever achieved

    Summary

    To summarize, in order to write a business plan that gets you funded, you need to start by considering your target market. Think about their needs and the value proposition they seek. Then deliver your answers in a well-written, easy to digest document that excites rather than bores them. Keep your plan concise and well-formatted, with realistic assumptions, and you will put yourself in the best position possible to raise money for your business.

    Business Plan Tips Infographic

    Below is an infographic of this article for quick reference.

    Business-Plan-Tips-Infographic

     

    Business Plan Tips Slideshare

    We put together the slide presentation below to show you “10 Tips For a Successful Business Launch.” In addition to the business plan tips above, this should help you better understand the keys to ultimate building a thriving business. Good luck!

    What is an Executive Summary?

    An executive summary is written to capture the reader’s attention, introduce them to your business idea, and present expected business outcomes within the context of your particular industry.

    Because it’s meant to be a summary of your business plan, this section is usually written last.

    Why Do I Need an Executive Summary?

    An executive summary is used to provide a quick snapshot of your business to readers so they can quickly decide whether they are interested in the opportunity to get involved with your company. It condenses vital business information into a short, easily readable 1-3 page document.

    How Long Should an Executive Summary Be?

    An executive summary for a business plan should typically be between one and three pages in length; more than that might seem like overkill to the reader, while less may not give enough detail on your business idea.

    Key Elements of a Business Plan Executive Summary

    The business plan executive summary should include the following points in order to be successful:

    • Problem Statement / Business Opportunity. What is the problem that you intend to solve? What business opportunity are you taking advantage of?
    • Business Idea. This is what your business wants to do to solve the problem. It should include how it will approach this problem.
    • Company History. The business’ history helps describe how the company has evolved and grown over the years (if applicable) and gives an overview of its work so far, even if it is a startup.
    • Industry. Here you will detail information about the industry your business operates in, including any trends that are influencing its state right now.
    • Target Market or Customer. Every business has a target customer base or a target market on which they focus. Here you will detail the types of customers you are targeting and their demographic and psychographic profiles.
    • Competition. This section is where you explain who your competitors are, any strengths that your business has over them, and ways in which you have or will build competitive advantage.
    • Milestones. This section is specific to businesses that need funding from investors or banks. It outlines exactly how many milestones have been achieved by the business already with what resources and timeframes are given for future ones.
    • Financial Plan. This section includes 5-year financial projections so investors can determine whether they might get an adequate return from investing in you and lenders can ascertain whether or not you will be able to repay your debts. It also details key uses of funding if needed.
    • Management Team. Here you will mention key members of your management team and staff along with their strengths, industry experience, skills, etc., so investors can determine how well equipped they are to achieve your business goals.

    How Do I Write an Executive Summary for a Business Plan?

    The executive summary is the most essential portion of your business plan since it’s the first thing investors, lenders, and/or other readers see. And if they aren’t interested, they’ll stop reading and you’ll lose them for good.

    Give yourself the best chances of success by following these steps to write your executive summary:

    1. Complete the rest of your business plan first. Before you begin writing the executive summary, make sure all of your business plan is complete. If it’s not, your executive summary won’t be accurate and you won’t come across as credible.
    2. Describe your business in one paragraph. It can be difficult to describe what you do in just a few sentences, but it is necessary for this step. If someone stopped reading after the first paragraph of your business plan, they must have a solid idea of what your business does.
    3. Create an outline and add the details. Before you start to write the meat of the executive summary, create an outline with headings to help you hit all the highlights of your plan. Your headings may include the various sections of your business plan such as marketing plan and customer analysis. Under each heading, use bullet points to help summarize the information that supports your objective.
    4. Shorten it. You will find that you have a lot to say, but don’t have the space to say it all. Review the executive summary and remove anything that does not support your key message using the fewest words possible.
    5. Proofread. Be sure to check your work carefully before submitting your executive summary. Since this document will represent your business, there’s no room for mistakes or typos. If some information seems unclear after you have read through the document several times, rewrite that section for clarity.
    6. Get others to read it. Have a friend, spouse, business partner, or mentor review your executive summary. Gather feedback from each reader and make edits as needed.

    Conclusion

    Follow the above steps to write an effective business plan executive summary that will not only gain potential investors or business partners’ attention but keep it as well. Your business’ success might just depend on it!

    Marketing-Plan-Template-HeaderThe right marketing plan template will allow you to quickly and easily complete your marketing plan.

    The key is to know the questions to answer in each section of your plan.

    Below is a great marketing plan template for you to use.

    BONUS Alert: at the bottom of this article you will find a free marketing plan template to download.

    1. Executive Summary

    Marketing-Plan-Template-Excecutive-Summary

    Complete your Executive Summary last, as the information will come from the other sections of your marketing plan.

    The Executive Summary of your Marketing Plan should resemble the following (with your answers filled in of course).

    [Company Name] is in the business of (provide a brief description of your company).

    – Our target customers are:
    – Our unique selling proposition is:
    – Our distribution strategy includes:
    – The key offers we will use to attract customers include:
    – The promotions we will use for new customers include:
    – Our online marketing strategy includes:
    – We will increase customer conversion rates by:
    – We will maximize our transaction prices by:
    – We will maximize the value of our customers by:
    – Our key financial projections include:

    The remainder of the marketing plan template is below. You will see how it mostly resembles the bullets in your Executive Summary. In each section, we detail the additional information on that topic.

    2. Target Market/Target Customers

    Marketing-Plan-Template-Target-MarketYour marketing plan must start with a detailed summary of who your target customers are and what their wants and needs.

    Without this understanding, you can’t speak directly to your customers. And if you can’t do this, your marketing ROI (return on investment) will suffer.

    For example, if you were selling a teeth whitening product and knew that your customers were men aged 30 to 40, making between $40,000 and $50,000 per year, living in Manhattan, and who owned dogs, you could effectively reach this market and speak to their exact needs.

    The information to detail includes:

    A. Demographic Profile of Our Target Customers

    • Location:
    • Age:
    • Generation: (e.g., baby-boomers, Generation X):
    • Income:
    • Etc.

    B. Psychographic Profile of Our Target Customers

    Describe the psychographic profile of your target customers. What do they do for fun? What TV shows do they watch? What do they believe in? What do they really care about?

    • Activities
    • Interests
    • Opinions
    • Etc.

    C. Your Target Customers’ Key Problems, Desires, and Needs

    Write down your target customers’ key problems, desires and needs below. Examples include price, location, exclusivity, results, safety, timeliness, convenience, and atmosphere.

    3. Unique Selling Proposition (USP)

    Marketing-Plan-Template-Unique-Selling-PropositionHaving a strong Unique Selling Proposition (USP) is one of the most important elements of your marketing plan.

    Your USP separates your product or service from your competitors. It makes your product or service a “unique, must have” item.

    In fact, great USPs have been noted as the keys to success for companies in multiple industries such as these:

    1. The Domino’s Pizza USP is “Fresh hot pizza delivered to your door in thirty minutes or less, guaranteed” (key USP elements are quality (hot/fresh) and timeliness (30 minutes or less))

    2. The Federal Express USP is “When it absolutely, positively has to be there overnight.” (key USP elements are reliability and quick delivery)

    Document your USP here.

    4. Pricing & Positioning Strategy

    Marketing-Plan-Template-Pricing-PositioningYour Pricing strategy should reflect your branding strategy. For example, if you want to be known as the premium service provider, clearly your prices will be higher. Or, you could combine premium service with value and offer moderate prices. Or further, you could offer products or services at multiple price points.

    Your Branding & Positioning strategy defines how you would like customers to think about your business? (e.g., as being the guaranteed lowest cost provider, as being the most reliable company, etc.).

    Document your Pricing and Branding & Positioning strategies here.

    5. Distribution Plan

    Marketing-Plan-Template-DistributionYour distribution plan details how customers will buy from you.

    For instance, will customers buy from your website? Will they order via telephone? Will they purchase from your partners? Will they buy from wholesalers or distributors? Will they buy from retailers? , etc.

    And/or will they be able to purchase via several of these channels?

    Detail your Distribution Plan here.

    6. Your Offers

    Marketing-Plan-Template-OffersYou will get better results from your marketing efforts if you craft powerful offers.

    Offers are special deals that you promote to customers in order to make your product and/or service offerings more irresistible to them.

    There are five basic types of offers as follows:

    1. Free Offers & Free Trials
    2. Guarantee Offers
    3. Packaged Offers
    4. Discount Offers
    5. Premium Offers

    Detail your Offers strategy here.

    7. Marketing Materials

    Marketing-Plan-Template-Marketing-materialsEvery business needs marketing materials.

    From business cards to brochures to employee shirts, such materials can positively promote your company to your target market.

    Detail the marketing materials you have or will develop here.

    8. Promotions Strategy

    Marketing-Plan-Template-PromotionsYour promotions strategy details how customers will learn about your company and your products and/or services.

    When developing your promotions strategy, consider how your target market acts and/or prefers to receive information.

    For example, if you target customers in rural areas, billboards may not be as effective as they would be in congested urban areas.

    Or, if your target customers don’t read newspapers, then remove newspaper advertising from your list.

    There are numerous ways to promote your company from email marketing to direct marketing to newspaper ads, etc.

    Detail all the promotions methods you will use for your company here.

    9. Online Marketing Strategy

    Marketing-Plan-Template-Online-MarketingThis section of your marketing plan details your online marketing strategy, mainly the ways you will promote your company online.

    There are four key components to your online marketing strategy as follows:

    1. Keyword Strategy
    2. Search Engine Optimization Strategy
    3. Paid Online Advertising Strategy
    4. Social Media Strategy

    Detail how you will utilize these 4 online marketing strategies.

    10. Conversion Strategy

    Marketing-Plan-Template-ConversionThe Conversion Strategy section of your marketing plan is perhaps the most important part of your marketing plan. It specifies how you will increase your conversion rates, which are the percentage of prospective customer who you interact with who end up buying from you.

    Small increases in conversion rates dramatically improve sales and profits, so it’s important to focus on this area.

    Below are the 5 strategies to use to increase your conversion rates.

    1. Improve Your Offers
    2. Improve Your Sales Script(s)
    3. Increase Your Social Proof
    4. Improved Prospect Nurturing
    5. Improved Branding/Prospective Customers’ Perceptions of You

    Detail here how you will leverage these five strategies.

    11. Joint Ventures & Partnerships

    Marketing-Plan-Template-JVsJoint ventures and partnerships can be used to both 1) decrease your cost of getting new prospective customers, and 2) increase the revenues you generate from existing customers.

    Detail if you will leverage Joint Ventures & Partnerships, and what partners you have and/or will try to secure this year.

    12. Referral Strategy

    Marketing-Plan-Template-ReferralsLike Partnerships and Joint Ventures, a referral strategy uses leverage to inexpensively gain new customers. But while Partnerships and Joint Ventures leverage another company’s customers, a referral strategy leverages your customers.

    Referrals, as you might expect, are simply asking existing customers to refer more customers (i.e., prospective customers that they know personally) to you.

    Detail how you will use customer referrals to grow your sales.

    13. Strategy for Increasing Transaction Prices

    Marketing-Plan-Template-Transaction-PricesWhile your primary goal is usually to close the sale, your secondary goal is to maximize the price of the sale, or the transaction price.

    Below are the 5 core ways to maximize your transaction price:
    1. Raise Prices
    2. Offer Product Packages
    3. Up-sell and Cross-Sell
    4. Sell Continuity Programs
    5. Increase the Order Size

    Detail how you will use these 5 ways to maximize your transaction prices and thus revenues.

    14. Retention Strategy

    Marketing-Plan-Template-RetentionWhen you retain customers, you get them to buy from you again and again and again. There are three key ways to retain your customers and maximize lifetime value.

    1. Ongoing Communications
    2. Loyalty Programs
    3. Continuity Programs

    Describe how you will leverage these retention strategies in your business here.

    15. Financial Projections

    Marketing-Plan-Template-ProjectionsThe marketing plan that you’ve created with this template will allow you to improve each and every aspect of your company’s marketing.

    In the financial projections section, you should project the potential results of executing on these strategies, and set goals.

    For instance, your promotions strategy should increase your leads by X%. Your Conversion strategy should increase lead conversions to sales by Y%. And so on.

    Creating a financial model allows you to see the financial impact of all the strategies you documented and keep you and  your team accountable for realizing improvements.

    Marketing Plan Template Infographic

    Below is an infographic of this article for quick reference.

    step by step guide to creating your marketing plan

     

    Recommended Slideshare

    We put together the slide presentation below to reiterate the “15 Keys to a Successful Marketing Plan” for you.

    Summary

    Your marketing plan is a crucial to your success. It forces you to think through each core aspect of your marketing strategy and make improvements. The beauty is that when you make multiple improvements, the results are typically exponentially better since each improvement builds on the others.

    Use the above marketing plan template, or download this free marketing plan template to type up your answers and create a winning marketing plan!

    How-Long-Should-Your-Business-Plan-Be-HeaderYour business plan should be as long as is required to convince the reader that your business plan is worth investing in or taking an interest in.

    That being said, the average length of a business plan to accomplish that goal is 15 to 25 pages.

     

    How-Long-Should-Your-Business-Plan-Be-GoalThe Ultimate Mission of Your Business Plan

    Importantly, to determine the ideal length of your plan, remember the ultimate mission of your plan. That mission is to convince the reader to get involved in and or fund your business. If your business plan is too short, you’re probably not giving them enough information on your business. Conversely, if it’s too long, you’re providing too much information and you’re going to bore them, with the result being that they’ll lose interest.

    Because length matters, the most important part of your business plan is clearly the first page or pages of your business plan. The first page is usually the cover page, followed by the table of contents. And then, the first real page of content is your Executive Summary. This is why the Executive Summary is so important. Because if you don’t capture the interest of the reader here, on these first pages, they’re just not going to read on.

    How-Long-Should-Your-Business-Plan-Be-First-ParagraphIn particularly, the very first paragraph of the Executive Summary is of critical importance because if you don’t excite somebody right away, they are not going to keep reading.

    I typically want the Executive Summary to be one to two pages to get the reader interested in your business. Then, the rest of your plan supports the Executive Summary and goes into more detail about what your business is about, what products and or services you will offer, what is your marketing plan, what are the highlights of your financial plan, etc.

    After the Executive Summary, there are 9 other key sections of your business plan. Each of these sections should be one to two pages each. And so, if we take an average of 1.5 pages per section times 10 sections (including the Executive Summary), we now have our 15-page business plan.

    Importantly, the final section of your plan is your Appendix. Your Appendix could be longer than other sections because here you’ll include your full financial statements — your income statement, balance sheet, and cash flow statement – and any other supporting documentation. But once again, the core of your business plan should be only 15 to 25 pages, or whatever amount of text and or pages is required to convince the reader that this is an opportunity worth pursuing.

    How-Long-Should-Your-Business-Plan-Be-BodyYour Plan Supports Your Executive Summary

    Let’s revisit your Executive Summary since it’s so important to the success of your plan. Importantly, in your Executive Summary, you must convey why your business is exciting and why it’s going to be successful.

    Then, the rest of the document, that is, in the rest of your business plan, you will support this. For example, you might say in the Executive Summary that “our business is poised for success because we are competing in this market. This market currently enjoys sales of $845 million per year and is growing at a rate of 9% per year.”

    This is enough research to include in the Executive Summary to get the reader or investor interested. Then, in the body of your plan, particularly in the Industry Analysis section, you must include whatever supporting information to prove this fact and go into more depth.

    Specifically, in the Industry Analysis section, you would not only repeat that “the market size is $845 million and is growing by 9% per year” but you’ll cite different sources proving these figures. You’ll discuss different segments of the market. You’ll mention different geographic regions of the market, and so on. In summary, in the Industry Analysis section of your plan, you’ll go into as much detail as is required to further prove that the market opportunity is sound.

    Likewise, in your Marketing section, you’ll go into as much detail as is required to prove your marketing plan is sound. For example, if one of your promotional strategies is PR or public relations, you’ll detail what specific newspapers, magazines, and websites you will target backed up by research on the customer demographics of those media sources. You’ll also discuss your PR strategy, such as whether you’re going to hold events or create stories.

    How-Long-Should-Your-Business-Plan-Be-NovelNobody’s Going to Read a 100 Page Business Plan

    A final and important point on the ideal length of your business plan is that you want to make sure to include enough information to answer the reader’s most important questions, but not every question.

    If you answer every question, your plan will be too long and you will bore most readers. Remember, nobody’s going to read a 100-page business plan. Rather, include the critical, concise information upfront in your Executive Summary and then, in the other sections of your plan, provide enough information to prove what you’ve said in the Executive Summary, add additional detail, and answer core questions that investors or readers will have when reading your plan.

    Business Plan Length Infographic

    Below is an infographic of this article for quick reference.

    Business Plan Length Infographic

     

    Recommended Slideshare

    We put together the slide presentation below entitled “How Your Business Plan Should Look” to give you additional pointers on creating a great business plan. These pointers allow you to keep your business plan short in length, but still very impactful.

    7_Proven_Strategies_to_Methodically_Grow_Your_Business_Header

    There are 7 core strategies I use most. These are the same strategies I’ve taught to thousands of entrepreneurs, and most importantly, which have allowed them and me to create thriving businesses.

    Below, I’ve detailed each one. Learn them and use them as I’m confident the level of your success will increase dramatically.

    7_Proven_Strategies_to_Methodically_Grow_Your_Business_Vision

    1) Have a Clear Vision Of Where You Want To Go

    If you don’t have a clear picture of the company you want to build, there’s no way you can build it.

    Spend time figuring out the precise attributes of the business you would like to build. How much will your revenues be? What products and services will you be offering customers? How many employees will you have? And, by what date will you achieve all this?

    7_Proven_Strategies_to_Methodically_Grow_Your_Business_Business-Plan

    2) Have a Written Business Plan

    Your vision is your dream. And to attain the dream, you need a business plan that details how you will achieve it.

    Among other things, it must document your product strategy, your marketing strategy, and your human resource strategy. Your plan should detail your long-term vision, but focus more specifically on what you must accomplish in the next year.

    7_Proven_Strategies_to_Methodically_Grow_Your_Business_Goals

    3) Have Quarterly, Monthly, Weekly, And Daily Goals

    If you were able to draw a line from where you are now to where you want your company to be, that line would be known as a trajectory. Success is about getting on the right trajectory. That is, as long as what you accomplish today, this week, this month and this year progresses you farther and farther along the line (versus going below the line or stagnating) then you will eventually reach your long term goal.

    To stay on the right trajectory, you must set quarterly, monthly, weekly, and daily goals. Each goal should be set with an understanding of the larger goal. For example, figure out what you need to accomplish this quarter in order to properly progress towards your annual goal. And then figure out what you need to accomplish this month to properly progress towards your quarterly goal. And so on.

    By creating and achieving these smaller, periodic goals, you start to ride the trajectory to your ultimate vision.

    7_Proven_Strategies_to_Methodically_Grow_Your_Business_Education

    4) Educate Yourself Continually

    To succeed you need to continually invest in educating yourself.

    You should be reading the right books. You should be attending the right seminars, conferences and trade shows. And you must read the right newspapers, magazines, newsletters and blogs.

    Do not skimp on spending money on educating yourself. Investing in your education (and that of your key employees) will generally give you a larger return on investment than anything else in your business.

    7_Proven_Strategies_to_Methodically_Grow_Your_Business_Satisfy_Customers

    5) Satisfy Your Customers

    Satisfied customers are the key to your success. If you can’t satisfy customers, you will fail.

    They say it takes one dissatisfied customer to undo the good that nine happy ones provide by spreading the word about their experience with you friend-to-friend or in online reviews.

    You can satisfy your customers on the front end (at or immediately after the time of the first sale) by making the sales and delivery process smooth and seamless, by reducing the customer’s participation or steps required to use the product, by managing their expectations so that what they get is exactly what they were promised, and of course with spectacular customer service and support.
    In addition to providing a great experience as just specified, the product or service you deliver them should be high quality and fully satisfy them.

    7_Proven_Strategies_to_Methodically_Grow_Your_Business_Market

    6) Market to Your Customers

    This is a big one, particularly since most business owners don’t do it enough. Most entrepreneurs and business owners are so focused on getting new customers that they neglect their current customers.

    And, unlike prospective customers, current customers have a track record of buying from you…and are much more likely to buy from you again than prospective customers.

    So spend time listening to and communicating with your current customers. Find out what that truly want and need, and stay top-of-mind so they buy from you again and again.

    7_Proven_Strategies_to_Methodically_Grow_Your_Business_Focus

    7) Be Laser-Focused in Your Work

    This ties in with #3 (Have Quarterly, Monthly, Weekly, And Daily Goals), but deserves its own mention. Which is this: be sure to focus on one aspect of your business at a time. Conversely, trying to do too many things at once will diffuse your focus and inevitably result in failure.

    Limit the number of projects you’re working on until they are finished. Remember, twenty projects that are 99% complete but not live yield less revenue that just one project that is 100% complete and live.

    As we keep hearing in the presidential debates, you, the entrepreneurs and small business owners, are the backbone of our economy. Follow these strategies and you’ll be more successful, and so will the economy!

    7 Proven Strategies to Methodically Grow Your Business Infographic

    Below is an infographic of this article for quick reference.

    7_Proven_Strategies_to_Methodically_Grow_Your_Business_Final_Infographic

    Recommended Slideshare

    Strategy #2 above is to have a written business plan. To help you expertly complete your business plan, we put together the slide presentation below to walk you through the “10 Key Elements of a Business Plan.”