Cyber Security Business Plan Template

Cyber Security Business Plan Template

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

The following Cyber Security business plan template gives you the key elements to include in a winning Cyber Security 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 marketing plan and strong financial projections.

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

 

Cyber Security Business Plan Example

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

I. Executive Summary

Business Overview

[Company Name] is a new cybersecurity company located in [Location]. We comprise a team of experienced cybersecurity professionals who have a passion for protecting businesses from cyber threats. [Company Name] offers a wide range of cybersecurity services, including vulnerability assessment, incident response and forensics, 24/7 network monitoring, and endpoint protection.

[Company Name] is committed to providing its customers with the best possible cybersecurity protection. The company uses the latest security technologies and employs a team of highly skilled security professionals who are constantly monitoring for threats. [Company Name] also offers a 24/7/365 security operations center that is available to respond to any security incidents that may occur. Though we are currently a small enterprise, we aim to compete with national brands within the next five years.

Products Served

[Company Name] provides local and national businesses with a suite of cybersecurity services to help them protect their data, systems, and networks from a variety of threats. These services include:

• Vulnerability assessment
• Managed security services
• Incident response services
• Penetration testing
• Security awareness training
• Data protection services
• 24/7 network monitoring
• Endpoint protection

Customer Focus

[Company Name] will primarily serve healthcare, fintech, and retail businesses within a 20-mile radius of our location.

• 2,000 businesses
• Average of 50 employees
• Top represented sector: Retail stores
• Average annual payroll of $1.5 million

Management Team

[Company Name]’s most valuable asset is the expertise and experience of its founder, [Founder’s Name]. [Founder’s Name] has been a cybersecurity professional and consultant for the past 20 years. He has worked with several Fortune 500 companies, helping them to protect their data from cyberattacks. He is a recognized expert in the field of cybersecurity and understands modern cyber threats better than anyone. [Founder’s Name] is eager to apply his decades of experience and knowledge to a new start-up cybersecurity firm.

Success Factors

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

• [Company Name] will fill a specific market niche in the growing community we are entering. In addition, we have surveyed local businesses and received extremely positive feedback saying that they explicitly want to make use of our services when launched.
• Our location is in an economically vibrant area where new businesses are starting at a fast rate.
• The management team has a track record of success in the small business cybersecurity business.
• The local area is currently underserved and has few independent cybersecurity firms offering our services.

Financial Highlights

[Company Name] is currently seeking $300,000 to launch. Specifically, these funds will be used as follows:

• Office design/build: $100,000
• Equipment and supplies: $50,000
• 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:

 

II. Company Overview

Who is [Company Name]?

[Company Name] is a new cybersecurity company located in [Location]. We comprise a team of experienced cybersecurity professionals who have a passion for protecting businesses from cyber threats. [Company Name] offers a wide range of cybersecurity services, including vulnerability assessment, incident response and forensics, 24/7 network monitoring, and endpoint protection.

[Company Name] is committed to providing its customers with the best possible cybersecurity protection. The company uses the latest security technologies and employs a team of highly skilled security professionals who are constantly monitoring for threats. [Company Name] also offers a 24/7/365 security operations center that is available to respond to any security incidents that may occur.

[Company Name] is a trusted partner for businesses of all sizes. The company is led by [Founder’s Name], a recognized expert in the field of cybersecurity. With his leadership and expertise, [Company Name] is sure to become one of the leading cybersecurity firms in the nation in the next few years.

[Company Name]’s History

[Founder’s Name] has spent the past year researching what it takes to establish a cybersecurity business. He has analyzed the costs, market, demographics, and local competition. [Founder’s Name] has compiled enough information to develop his business plan in order to approach investors.

After completing his research, [Founder’s Name] incorporated [Company Name] on [Date of Incorporation] as an S-corporation. The business is currently being run out of [Founder’s Name]’s home, but once the lease on [Company Name]’s office location is finalized, all operations will be run from there.

Since incorporation, the company has achieved the following milestones:

• Found an office location
• Developed the company’s name, logo, and website located at [website]
• Determined equipment and fixture requirements
• Began recruiting key employees

[Company Name]’s Products/Services

[Company Name] provides local and national businesses with a suite of cybersecurity services to help them protect their data, systems, and networks from a variety of threats. These services include:

• Vulnerability assessment
• Managed security services
• Incident response services
• Penetration testing
• Security awareness training
• Data protection services
• 24/7 network monitoring
• Endpoint protection

 

III. Industry Analysis

Cybersecurity is an essential industry in a modern world threatened by frequent cyber-attacks. The services they provide help protect businesses and individuals from a variety of cyber threats, including data breaches, malware attacks, and ransomware.

According to Grand View Research, the global cybersecurity industry was valued at $202 billion in 2022 and is expected to grow at a CAGR of 12.3% from now until 2030. This growth is being driven by a number of factors, including:

• The increased usage of devices connected to the internet: The number of devices connected to the internet has been growing exponentially in recent years, and this trend is expected to continue. As more and more devices are connected to the internet, they become more vulnerable to cyber-attacks.
• The increased frequency of cyber attacks worldwide: Cyber attacks are becoming more common and more sophisticated. These attacks can have a devastating impact on businesses and individuals, resulting in financial losses, data breaches, and even loss of life.
• The growing awareness of the importance of cybersecurity: In recent years, there has been a growing awareness of the importance of cybersecurity. Businesses and individuals are becoming more aware of the risks of cyber-attacks and are taking steps to protect themselves. This increased awareness is driving demand for cybersecurity products and services.

The growth of the cybersecurity industry is expected to continue in the coming years. As these trends continue, we expect that [Company Name] will be able to succeed in local and national markets as a dependable cybersecurity firm.
 

IV. Customer Analysis

Demographic Profile of Target Market

[Company Name] will primarily serve local businesses located within 20 miles of our location. We expect most of our target market to include healthcare, retail, and fintech businesses. These businesses are typically small to medium-sized, with fewer than 100 employees.

Customer Segmentation

[Company Name] will primarily target the following three customer segments:

• Healthcare businesses: These businesses need to ensure their patient data is secure. Data breaches could result in the leak of private information, which could compromise the health and safety of these businesses’ patients.
• Retail businesses: These businesses need to protect their customer data, including credit card numbers and personal information. Data breaches could lead to financial losses for retailers, as well as damage to their reputations.
• Fintech businesses: These businesses handle a large amount of sensitive financial data, including credit card numbers, bank account numbers, and Social Security numbers. Data breaches could lead to financial losses for fintech businesses, as well as damage to their reputations.

 

V. Competitive Analysis

Direct & Indirect Competitors

The following establishments provide either direct or indirect competition for our target market:

Modern Networks
Established in 2009, Modern Networks is a small cybersecurity firm that specializes in providing comprehensive security solutions for businesses of all sizes. The company’s team of experts has a deep understanding of the latest threats and vulnerabilities, and they are committed to helping their clients protect their data and systems from attack. The company also has a strong focus on research and development and is constantly working to stay ahead of the latest threats. We expect Modern Networks to provide significant competition for our target market.

Fintech Cyber Solutions
Fintech Cyber Solutions is a cybersecurity firm that protects financial institutions from cyber threats. Founded in 2012, the company has a team of experienced cybersecurity professionals who specialize in the financial services industry. Fintech Cyber Solutions offers a variety of services to help fintech companies protect their data and systems, including threat intelligence and risk assessment, security architecture and design, penetration testing and vulnerability management, and incident response and forensics. We expect that Fintech Cyber Solutions will be a major competitor for our clients in the financial industry.

Versa Cybersecurity Solutions
Versa Cybersecurity Solutions is the most popular cybersecurity solutions firm in [Location] and our toughest competitor. Since 2015, Versa Cybersecurity Solutions has provided several local industries with a full suite of cybersecurity services all at a moderate price. Some of the services they provide include network security monitoring, endpoint security protection, risk assessment, penetration testing, and incident response. Due to their popularity, Versa Cybersecurity Solutions will be the most difficult firm to compete against in the local market.

Competitive Advantage

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

• Management: [Founder’s Name] has been extremely successful working in the cybersecurity industry and will be able to use his previous experience to provide the best 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.
• Client-oriented service: [Company Name] will have full-time customer service staff to keep in contact with clients and answer their everyday questions.

 

VI. Marketing Plan

You can download our cyber security 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 cybersecurity services that are customized for every client
• Service built on long-term relationships
• Thorough knowledge of the clients and their varying needs

Promotions Strategy

[Company Name]’s promotions strategy to reach our target market includes:

Advertisement
Advertisements in print are an excellent way for businesses to connect with their audience. [Company Name] will advertise its company offerings in popular magazines and news dailies. Obtaining relevant placements in industry magazines and journals will also help in increasing brand visibility.

Social Media Marketing
Social media is one of the most cost-effective and practical marketing methods for improving brand visibility. [Company Name] will use social media to develop engaging content and post customer reviews that will increase audience awareness and loyalty.

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 cybersecurity services.

Referrals
[Company Name] understands that the best promotion comes from satisfied customers. The company will encourage its customers to refer other individuals by providing discounts on future services for every new client produced. This strategy will increase in effectiveness over time.

Website/SEO
[Company Name] will invest in developing a professional website that displays all of the services offered by the company. It will also invest in SEO so that the company’s website will appear at the top of search engine results.

Pricing Strategy

[Company Name]’s pricing will be moderate, so customers feel they receive great value when availing of our cybersecurity services.

 

VII. Operations Plan

Functional Roles

[Company Name] will need to fulfill the following functional roles to execute its business plan and ensure the company’s success:

Service Functions

• Provide cybersecurity solutions
• Monitor, prevent, and respond to cyber attacks
• Provide great customer service
• Cold call potential customers

Administrative Functions

• Social media management
• Website management
• Bookkeeping
• Marketing
• Hiring and training staff
• Other general administrative functions

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:

 

VIII. Management Team

Management Team Members

[Company Name]’s most valuable asset is the expertise and experience of its founder, [Founder’s Name]. [Founder’s Name] has been a cybersecurity professional and consultant for the past 20 years. He has worked with several Fortune 500 companies, helping them to protect their data from cyberattacks. He is a recognized expert in the field of cybersecurity and understands modern cyber threats better than anyone.

[Founder’s Name] is also a strong leader and visionary. He has a clear vision for the future of [Company Name], and he is passionate about helping businesses protect themselves from cyber threats. He is committed to providing his clients with the best possible security solutions.

Though he has never run his own business, [Founder’s Name] has worked in the industry long enough to gain an in-depth knowledge of the operations (e.g., running day-to-day operations) and the business (e.g., staffing, marketing, etc.) sides of the industry.

Hiring Plan

[Founder’s Name] will serve as the CEO. He will hire the following personnel to maintain an effective and profitable cybersecurity business:

• Cybersecurity Engineers (5 to start)
• Account Executives (2 to start)
• Accountant
• Administrative Assistant
• Customer Service Associates (3 to start)

 

IX. Financial Plan

Revenue and Cost Drivers

[Company Name]’s revenues will come primarily from the fees charged for our cybersecurity services.

As with most services, labor expenses are the key cost drivers. [Founder’s Name] and future consultants will earn a competitive base salary. The lease on the office location will be the next largest cost. Moreover, ongoing marketing expenditures are also notable cost drivers for [Company Name].

Capital Requirements and Use of Funds

[Company Name] is currently seeking $300,000 to launch. Specifically, these funds will be used as follows:

• Office design/build: $100,000
• Equipment and supplies: $50,000
• 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:

5 Year Annual Income Statement

5 Year Annual Balance Sheet

5 Year Annual Cash Flow Statement