l'art du business plan

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L'art du business plan

Construire votre projet, évaluer sa rentabilité et rassurer vos partenaires.

Anne-Sophie Poupin 10 mars 2022

Transformez votre idée en projet !

Quelle est la rentabilité de votre modèle ? De quels moyens avez-vous besoin pour démarrer ? Le business plan est une étape essentielle de la construction de votre projet, et il permet de rassurer ceux que vous voulez impliquer dans cette aventure.

Ce guide pratique donne les clés essentielles pour construire un business plan solide :

• La présentation du projet : étude de marché, proposition de valeur, modèle économique, chiffre d'affaires prévisionnel, etc.
• Les prévisions financières  : compte d'exploitation prévisionnel, plan de financement, plan de trésorerie, etc.

L'Art du business plan propose des modèles et fichiers Excel de business plan adaptables à tous les secteurs d'activités, ainsi que de nombreux témoignages d'entrepreneurs et conseils d'experts. Il aborde aussi la définition des tarifs et le choix du statut juridique.

Quatre exemples fil rouge permettent de détailler les particularités des différents types de projets : activité libérale, avec Étienne, qui veut devenir coach ; plateforme web, avec Cécile et sa plateforme en ligne d'ateliers créatifs ; alimentation, avec Chloé en Antoine, qui créent une activité de livraison à vélo de petits déjeuners ; et ouverture d'un lieu, avec Anna et son espace bien-être.

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L'art Du Business Plan : Construire Votre Projet, Evaluer Sa Rentabilite Et Rassurer Vos Partenaires

français | 10-03-2022 | 240 pages

9782416004674

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Transformez votre idée en projet ! Quelle est la rentabilité de votre modèle ? De quels moyens avez-vous besoin pour démarrer ? Le business plan est une étape essentielle de la construction de votre projet, et il permet de rassurer ceux que vous voulez impliquer dans cette aventure. Ce guide pratique donne les clés essentielles pour construire un business plan solide : La présentation du projet : étude de marché, proposition de valeur, modèle économique, chiffre d'affaires prévisionnel, etc. Les prévisions financières : compte d'exploitation prévisionnel, plan de financement, plan de trésorerie, etc. L'Art du business plan propose des modèles et fichiers Excel de business plan adaptables à tous les secteurs d'activités, ainsi que de nombreux témoignages d'entrepreneurs et conseils d'experts. Il aborde aussi la définition des tarifs et le choix du statut juridique. Quatre exemples fil rouge permettent de détailler les particularités des différents types de projets : activité libérale, avec Étienne, qui veut devenir coach ; plateforme web, avec Cécile et sa plateforme en ligne d'ateliers créatifs ; alimentation, avec Chloé en Antoine, qui créent une activité de livraison à vélo de petits déjeuners ; et ouverture d'un lieu, avec Anna et son espace bien-être.

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TRANSFORMEZ VOTRE IDÉE EN PROJET ! Quelle est la rentabilité de votre modèle ? De quels moyens avezvous besoin pour démarrer ? Le business plan est une étape essentielle de la construction de votre projet de création d’entreprise. Il permet aussi de rassurer ceux que vous voulez impliquer dans cette aventure. Ce guide pratique donne les clés essentielles pour construire un business plan solide :

• La présentation du projet : étude de marché, proposition de valeur, modèle économique, chiffre d’affaires prévisionnel, etc.
• Les prévisions financières : compte d’exploitation prévisionnel, plan de financement, plan de trésorerie, etc.

L’Art du business plan propose des modèles et fichiers Excel de business plan adaptables à tous les secteurs d’activités, ainsi que de nombreux témoignages d’entrepreneurs et conseils d’experts. Il aborde aussi la définition des tarifs et le choix du statut juridique. Quatre exemples fil rouge permettent de détailler les particularités des différents types de projets : activité libérale, avec Étienne, qui veut devenir coach ; activité digitale, avec Cécilia et sa plateforme en ligne d’ateliers créatifs ; alimentation, avec Chloé et Antoine, qui créent une activité de livraison à vélo de petits déjeuners ; et ouverture d’un lieu, avec Anna et son espace bien-être.

L'art du business plan

Construire votre projet, évaluer sa rentabilité et rassurer vos partenaires

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How to Write a Business Plan in 9 Steps (+ Template and Examples)

Every successful business has one thing in common, a good and well-executed business plan. A business plan is more than a document, it is a complete guide that outlines the goals your business wants to achieve, including its financial goals . It helps you analyze results, make strategic decisions, show your business operations and growth.

If you want to start a business or already have one and need to pitch it to investors for funding, writing a good business plan improves your chances of attracting financiers. As a startup, if you want to secure loans from financial institutions, part of the requirements involve submitting your business plan.

Writing a business plan does not have to be a complicated or time-consuming process. In this article, you will learn the step-by-step process for writing a successful business plan.

You will also learn what you need a business plan for, tips and strategies for writing a convincing business plan, business plan examples and templates that will save you tons of time, and the alternatives to the traditional business plan.

Let’s get started.

What Do You Need A Business Plan For?

Businesses create business plans for different purposes such as to secure funds, monitor business growth, measure your marketing strategies, and measure your business success.

1. Secure Funds

One of the primary reasons for writing a business plan is to secure funds, either from financial institutions/agencies or investors.

For you to effectively acquire funds, your business plan must contain the key elements of your business plan . For example, your business plan should include your growth plans, goals you want to achieve, and milestones you have recorded.

A business plan can also attract new business partners that are willing to contribute financially and intellectually. If you are writing a business plan to a bank, your project must show your traction , that is, the proof that you can pay back any loan borrowed.

Also, if you are writing to an investor, your plan must contain evidence that you can effectively utilize the funds you want them to invest in your business. Here, you are using your business plan to persuade a group or an individual that your business is a source of a good investment.

2. Monitor Business Growth

A business plan can help you track cash flows in your business. It steers your business to greater heights. A business plan capable of tracking business growth should contain:

• The business goals
• Methods to achieve the goals
• Time-frame for attaining those goals

A good business plan should guide you through every step in achieving your goals. It can also track the allocation of assets to every aspect of the business. You can tell when you are spending more than you should on a project.

You can compare a business plan to a written GPS. It helps you manage your business and hints at the right time to expand your business.

3. Measure Business Success

A business plan can help you measure your business success rate. Some small-scale businesses are thriving better than more prominent companies because of their track record of success.

Right from the onset of your business operation, set goals and work towards them. Write a plan to guide you through your procedures. Use your plan to measure how much you have achieved and how much is left to attain.

You can also weigh your success by monitoring the position of your brand relative to competitors. On the other hand, a business plan can also show you why you have not achieved a goal. It can tell if you have elapsed the time frame you set to attain a goal.

4. Document Your Marketing Strategies

You can use a business plan to document your marketing plans. Every business should have an effective marketing plan.

Competition mandates every business owner to go the extraordinary mile to remain relevant in the market. Your business plan should contain your marketing strategies that work. You can measure the success rate of your marketing plans.

In your business plan, your marketing strategy must answer the questions:

• How do you want to reach your target audience?
• How do you plan to retain your customers?
• What is/are your pricing plans?
• What is your budget for marketing?

How to Write a Business Plan Step-by-Step

1. create your executive summary.

The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans . Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.

Generally, there are nine sections in a business plan, the executive summary should condense essential ideas from the other eight sections.

A good executive summary should do the following:

• A Snapshot of Growth Potential. Briefly inform the reader about your company and why it will be successful)
• Contain your Mission Statement which explains what the main objective or focus of your business is.
• Product Description and Differentiation. Brief description of your products or services and why it is different from other solutions in the market.
• The Team. Basic information about your company’s leadership team and employees
• Business Concept. A solid description of what your business does.
• Target Market. The customers you plan to sell to.
• Marketing Strategy. Your plans on reaching and selling to your customers
• Current Financial State. Brief information about what revenue your business currently generates.
• Projected Financial State. Brief information about what you foresee your business revenue to be in the future.

The executive summary is the make-or-break section of your business plan. If your summary cannot in less than two pages cannot clearly describe how your business will solve a particular problem of your target audience and make a profit, your business plan is set on a faulty foundation.

Avoid using the executive summary to hype your business, instead, focus on helping the reader understand the what and how of your plan.

View the executive summary as an opportunity to introduce your vision for your company. You know your executive summary is powerful when it can answer these key questions:

• Who is your target audience?
• What sector or industry are you in?
• What are your products and services?
• What is the future of your industry?
• Is your company scaleable?
• Who are the owners and leaders of your company? What are their backgrounds and experience levels?
• What is the motivation for starting your company?
• What are the next steps?

Writing the executive summary last although it is the most important section of your business plan is an excellent idea. The reason why is because it is a high-level overview of your business plan. It is the section that determines whether potential investors and lenders will read further or not.

The executive summary can be a stand-alone document that covers everything in your business plan. It is not uncommon for investors to request only the executive summary when evaluating your business. If the information in the executive summary impresses them, they will ask for the complete business plan.

If you are writing your business plan for your planning purposes, you do not need to write the executive summary.

2. Add Your Company Overview

The company overview or description is the next section in your business plan after the executive summary. It describes what your business does.

Adding your company overview can be tricky especially when your business is still in the planning stages. Existing businesses can easily summarize their current operations but may encounter difficulties trying to explain what they plan to become.

Your company overview should contain the following:

• What products and services you will provide
• Geographical markets and locations your company have a presence
• What you need to run your business
• Who your target audience or customers are
• Who will service your customers
• Your company’s purpose, mission, and vision
• Information about your company’s founders
• Who the founders are
• Notable achievements of your company so far

When creating a company overview, you have to focus on three basics: identifying your industry, identifying your customer, and explaining the problem you solve.

If you are stuck when creating your company overview, try to answer some of these questions that pertain to you.

• Who are you targeting? (The answer is not everyone)
• What pain point does your product or service solve for your customers that they will be willing to spend money on resolving?
• How does your product or service overcome that pain point?
• Where is the location of your business?
• What products, equipment, and services do you need to run your business?
• How is your company’s product or service different from your competition in the eyes of your customers?
• How many employees do you need and what skills do you require them to have?

After answering some or all of these questions, you will get more than enough information you need to write your company overview or description section. When writing this section, describe what your company does for your customers.

The company description or overview section contains three elements: mission statement, history, and objectives.

• Mission Statement

The mission statement refers to the reason why your business or company is existing. It goes beyond what you do or sell, it is about the ‘why’. A good mission statement should be emotional and inspirational.

Your mission statement should follow the KISS rule (Keep It Simple, Stupid). For example, Shopify’s mission statement is “Make commerce better for everyone.”

When describing your company’s history, make it simple and avoid the temptation of tying it to a defensive narrative. Write it in the manner you would a profile. Your company’s history should include the following information:

• Founding Date
• Major Milestones
• Location(s)
• Flagship Products or Services
• Number of Employees
• Executive Leadership Roles

When you fill in this information, you use it to write one or two paragraphs about your company’s history.

Business Objectives

Your business objective must be SMART (specific, measurable, achievable, realistic, and time-bound.) Failure to clearly identify your business objectives does not inspire confidence and makes it hard for your team members to work towards a common purpose.

3. Perform Market and Competitive Analyses to Proof a Big Enough Business Opportunity

The third step in writing a business plan is the market and competitive analysis section. Every business, no matter the size, needs to perform comprehensive market and competitive analyses before it enters into a market.

Performing market and competitive analyses are critical for the success of your business. It helps you avoid entering the right market with the wrong product, or vice versa. Anyone reading your business plans, especially financiers and financial institutions will want to see proof that there is a big enough business opportunity you are targeting.

This section is where you describe the market and industry you want to operate in and show the big opportunities in the market that your business can leverage to make a profit. If you noticed any unique trends when doing your research, show them in this section.

Market analysis alone is not enough, you have to add competitive analysis to strengthen this section. There are already businesses in the industry or market, how do you plan to take a share of the market from them?

You have to clearly illustrate the competitive landscape in your business plan. Are there areas your competitors are doing well? Are there areas where they are not doing so well? Show it.

Make it clear in this section why you are moving into the industry and what weaknesses are present there that you plan to explain. How are your competitors going to react to your market entry? How do you plan to get customers? Do you plan on taking your competitors' competitors, tap into other sources for customers, or both?

Illustrate the competitive landscape as well. What are your competitors doing well and not so well?

Answering these questions and thoughts will aid your market and competitive analysis of the opportunities in your space. Depending on how sophisticated your industry is, or the expectations of your financiers, you may need to carry out a more comprehensive market and competitive analysis to prove that big business opportunity.

Instead of looking at the market and competitive analyses as one entity, separating them will make the research even more comprehensive.

Market Analysis

Market analysis, boarding speaking, refers to research a business carried out on its industry, market, and competitors. It helps businesses gain a good understanding of their target market and the outlook of their industry. Before starting a company, it is vital to carry out market research to find out if the market is viable.

The market analysis section is a key part of the business plan. It is the section where you identify who your best clients or customers are. You cannot omit this section, without it your business plan is incomplete.

A good market analysis will tell your readers how you fit into the existing market and what makes you stand out. This section requires in-depth research, it will probably be the most time-consuming part of the business plan to write.

• Market Research

To create a compelling market analysis that will win over investors and financial institutions, you have to carry out thorough market research . Your market research should be targeted at your primary target market for your products or services. Here is what you want to find out about your target market.

• Your target market’s needs or pain points
• The existing solutions for their pain points
• Geographic Location
• Demographics

The purpose of carrying out a marketing analysis is to get all the information you need to show that you have a solid and thorough understanding of your target audience.

Only after you have fully understood the people you plan to sell your products or services to, can you evaluate correctly if your target market will be interested in your products or services.

You can easily convince interested parties to invest in your business if you can show them you thoroughly understand the market and show them that there is a market for your products or services.

How to Quantify Your Target Market

One of the goals of your marketing research is to understand who your ideal customers are and their purchasing power. To quantify your target market, you have to determine the following:

• Your Potential Customers: They are the people you plan to target. For example, if you sell accounting software for small businesses , then anyone who runs an enterprise or large business is unlikely to be your customers. Also, individuals who do not have a business will most likely not be interested in your product.
• Total Households: If you are selling household products such as heating and air conditioning systems, determining the number of total households is more important than finding out the total population in the area you want to sell to. The logic is simple, people buy the product but it is the household that uses it.
• Median Income: You need to know the median income of your target market. If you target a market that cannot afford to buy your products and services, your business will not last long.
• Income by Demographics: If your potential customers belong to a certain age group or gender, determining income levels by demographics is necessary. For example, if you sell men's clothes, your target audience is men.

What Does a Good Market Analysis Entail?

Your business does not exist on its own, it can only flourish within an industry and alongside competitors. Market analysis takes into consideration your industry, target market, and competitors. Understanding these three entities will drastically improve your company’s chances of success.

You can view your market analysis as an examination of the market you want to break into and an education on the emerging trends and themes in that market. Good market analyses include the following:

• Industry Description. You find out about the history of your industry, the current and future market size, and who the largest players/companies are in your industry.
• Overview of Target Market. You research your target market and its characteristics. Who are you targeting? Note, it cannot be everyone, it has to be a specific group. You also have to find out all information possible about your customers that can help you understand how and why they make buying decisions.
• Size of Target Market: You need to know the size of your target market, how frequently they buy, and the expected quantity they buy so you do not risk overproducing and having lots of bad inventory. Researching the size of your target market will help you determine if it is big enough for sustained business or not.
• Growth Potential: Before picking a target market, you want to be sure there are lots of potential for future growth. You want to avoid going for an industry that is declining slowly or rapidly with almost zero growth potential.
• Market Share Potential: Does your business stand a good chance of taking a good share of the market?
• Market Pricing and Promotional Strategies: Your market analysis should give you an idea of the price point you can expect to charge for your products and services. Researching your target market will also give you ideas of pricing strategies you can implement to break into the market or to enjoy maximum profits.
• Potential Barriers to Entry: One of the biggest benefits of conducting market analysis is that it shows you every potential barrier to entry your business will likely encounter. It is a good idea to discuss potential barriers to entry such as changing technology. It informs readers of your business plan that you understand the market.
• Research on Competitors: You need to know the strengths and weaknesses of your competitors and how you can exploit them for the benefit of your business. Find patterns and trends among your competitors that make them successful, discover what works and what doesn’t, and see what you can do better.

The market analysis section is not just for talking about your target market, industry, and competitors. You also have to explain how your company can fill the hole you have identified in the market.

Here are some questions you can answer that can help you position your product or service in a positive light to your readers.

• Is your product or service of superior quality?
• What additional features do you offer that your competitors do not offer?
• Are you targeting a ‘new’ market?

Basically, your market analysis should include an analysis of what already exists in the market and an explanation of how your company fits into the market.

Competitive Analysis

In the competitive analysis section, y ou have to understand who your direct and indirect competitions are, and how successful they are in the marketplace. It is the section where you assess the strengths and weaknesses of your competitors, the advantage(s) they possess in the market and show the unique features or qualities that make you different from your competitors.

Many businesses do market analysis and competitive analysis together. However, to fully understand what the competitive analysis entails, it is essential to separate it from the market analysis.

Competitive analysis for your business can also include analysis on how to overcome barriers to entry in your target market.

The primary goal of conducting a competitive analysis is to distinguish your business from your competitors. A strong competitive analysis is essential if you want to convince potential funding sources to invest in your business. You have to show potential investors and lenders that your business has what it takes to compete in the marketplace successfully.

Competitive analysis will s how you what the strengths of your competition are and what they are doing to maintain that advantage.

When doing your competitive research, you first have to identify your competitor and then get all the information you can about them. The idea of spending time to identify your competitor and learn everything about them may seem daunting but it is well worth it.

Find answers to the following questions after you have identified who your competitors are.

• What are your successful competitors doing?
• Why is what they are doing working?
• Can your business do it better?
• What are the weaknesses of your successful competitors?
• What are they not doing well?
• Can your business turn its weaknesses into strengths?
• How good is your competitors’ customer service?
• Where do your competitors invest in advertising?
• What sales and pricing strategies are they using?
• What marketing strategies are they using?
• What kind of press coverage do they get?
• What are their customers saying about your competitors (both the positive and negative)?

If your competitors have a website, it is a good idea to visit their websites for more competitors’ research. Check their “About Us” page for more information.

If you are presenting your business plan to investors, you need to clearly distinguish yourself from your competitors. Investors can easily tell when you have not properly researched your competitors.

Take time to think about what unique qualities or features set you apart from your competitors. If you do not have any direct competition offering your product to the market, it does not mean you leave out the competitor analysis section blank. Instead research on other companies that are providing a similar product, or whose product is solving the problem your product solves.

The next step is to create a table listing the top competitors you want to include in your business plan. Ensure you list your business as the last and on the right. What you just created is known as the competitor analysis table.

Direct vs Indirect Competition

You cannot know if your product or service will be a fit for your target market if you have not understood your business and the competitive landscape.

There is no market you want to target where you will not encounter competition, even if your product is innovative. Including competitive analysis in your business plan is essential.

If you are entering an established market, you need to explain how you plan to differentiate your products from the available options in the market. Also, include a list of few companies that you view as your direct competitors The competition you face in an established market is your direct competition.

In situations where you are entering a market with no direct competition, it does not mean there is no competition there. Consider your indirect competition that offers substitutes for the products or services you offer.

For example, if you sell an innovative SaaS product, let us say a project management software , a company offering time management software is your indirect competition.

There is an easy way to find out who your indirect competitors are in the absence of no direct competitors. You simply have to research how your potential customers are solving the problems that your product or service seeks to solve. That is your direct competition.

Factors that Differentiate Your Business from the Competition

There are three main factors that any business can use to differentiate itself from its competition. They are cost leadership, product differentiation, and market segmentation.

1. Cost Leadership

A strategy you can impose to maximize your profits and gain an edge over your competitors. It involves offering lower prices than what the majority of your competitors are offering.

A common practice among businesses looking to enter into a market where there are dominant players is to use free trials or pricing to attract as many customers as possible to their offer.

2. Product Differentiation

Your product or service should have a unique selling proposition (USP) that your competitors do not have or do not stress in their marketing.

Part of the marketing strategy should involve making your products unique and different from your competitors. It does not have to be different from your competitors, it can be the addition to a feature or benefit that your competitors do not currently have.

3. Market Segmentation

As a new business seeking to break into an industry, you will gain more success from focusing on a specific niche or target market, and not the whole industry.

If your competitors are focused on a general need or target market, you can differentiate yourself from them by having a small and hyper-targeted audience. For example, if your competitors are selling men’s clothes in their online stores , you can sell hoodies for men.

4. Define Your Business and Management Structure

The next step in your business plan is your business and management structure. It is the section where you describe the legal structure of your business and the team running it.

Your business is only as good as the management team that runs it, while the management team can only strive when there is a proper business and management structure in place.

If your company is a sole proprietor or a limited liability company (LLC), a general or limited partnership, or a C or an S corporation, state it clearly in this section.

Use an organizational chart to show the management structure in your business. Clearly show who is in charge of what area in your company. It is where you show how each key manager or team leader’s unique experience can contribute immensely to the success of your company. You can also opt to add the resumes and CVs of the key players in your company.

The business and management structure section should show who the owner is, and other owners of the businesses (if the business has other owners). For businesses or companies with multiple owners, include the percent ownership of the various owners and clearly show the extent of each others’ involvement in the company.

Investors want to know who is behind the company and the team running it to determine if it has the right management to achieve its set goals.

Management Team

The management team section is where you show that you have the right team in place to successfully execute the business operations and ideas. Take time to create the management structure for your business. Think about all the important roles and responsibilities that you need managers for to grow your business.

Include brief bios of each key team member and ensure you highlight only the relevant information that is needed. If your team members have background industry experience or have held top positions for other companies and achieved success while filling that role, highlight it in this section.

A common mistake that many startups make is assigning C-level titles such as (CMO and CEO) to everyone on their team. It is unrealistic for a small business to have those titles. While it may look good on paper for the ego of your team members, it can prevent investors from investing in your business.

Instead of building an unrealistic management structure that does not fit your business reality, it is best to allow business titles to grow as the business grows. Starting everyone at the top leaves no room for future change or growth, which is bad for productivity.

Your management team does not have to be complete before you start writing your business plan. You can have a complete business plan even when there are managerial positions that are empty and need filling.

If you have management gaps in your team, simply show the gaps and indicate you are searching for the right candidates for the role(s). Investors do not expect you to have a full management team when you are just starting your business.

Key Questions to Answer When Structuring Your Management Team

• Who are the key leaders?
• What experiences, skills, and educational backgrounds do you expect your key leaders to have?
• Do your key leaders have industry experience?
• What positions will they fill and what duties will they perform in those positions?
• What level of authority do the key leaders have and what are their responsibilities?
• What is the salary for the various management positions that will attract the ideal candidates?

Additional Tips for Writing the Management Structure Section

1. Avoid Adding ‘Ghost’ Names to Your Management Team

There is always that temptation to include a ‘ghost’ name to your management team to attract and influence investors to invest in your business. Although the presence of these celebrity management team members may attract the attention of investors, it can cause your business to lose any credibility if you get found out.

Seasoned investors will investigate further the members of your management team before committing fully to your business If they find out that the celebrity name used does not play any actual role in your business, they will not invest and may write you off as dishonest.

2. Focus on Credentials But Pay Extra Attention to the Roles

Investors want to know the experience that your key team members have to determine if they can successfully reach the company’s growth and financial goals.

While it is an excellent boost for your key management team to have the right credentials, you also want to pay extra attention to the roles they will play in your company.

Organizational Chart

Adding an organizational chart in this section of your business plan is not necessary, you can do it in your business plan’s appendix.

If you are exploring funding options, it is not uncommon to get asked for your organizational chart. The function of an organizational chart goes beyond raising money, you can also use it as a useful planning tool for your business.

An organizational chart can help you identify how best to structure your management team for maximum productivity and point you towards key roles you need to fill in the future.

You can use the organizational chart to show your company’s internal management structure such as the roles and responsibilities of your management team, and relationships that exist between them.

5. Describe Your Product and Service Offering

In your business plan, you have to describe what you sell or the service you plan to offer. It is the next step after defining your business and management structure. The products and services section is where you sell the benefits of your business.

Here you have to explain how your product or service will benefit your customers and describe your product lifecycle. It is also the section where you write down your plans for intellectual property like patent filings and copyrighting.

The research and development that you are undertaking for your product or service need to be explained in detail in this section. However, do not get too technical, sell the general idea and its benefits.

If you have any diagrams or intricate designs of your product or service, do not include them in the products and services section. Instead, leave them for the addendum page. Also, if you are leaving out diagrams or designs for the addendum, ensure you add this phrase “For more detail, visit the addendum Page #.”

Your product and service section in your business plan should include the following:

• A detailed explanation that clearly shows how your product or service works.
• The pricing model for your product or service.
• Your business’ sales and distribution strategy.
• The ideal customers that want your product or service.
• The benefits of your products and services.
• Reason(s) why your product or service is a better alternative to what your competitors are currently offering in the market.
• Plans for filling the orders you receive
• If you have current or pending patents, copyrights, and trademarks for your product or service, you can also discuss them in this section.

What to Focus On When Describing the Benefits, Lifecycle, and Production Process of Your Products or Services

In the products and services section, you have to distill the benefits, lifecycle, and production process of your products and services.

When describing the benefits of your products or services, here are some key factors to focus on.

• Unique features
• Translating the unique features into benefits
• The emotional, psychological, and practical payoffs to attract customers
• Intellectual property rights or any patents

When describing the product life cycle of your products or services, here are some key factors to focus on.

• Upsells, cross-sells, and down-sells
• Time between purchases
• Plans for research and development.

When describing the production process for your products or services, you need to think about the following:

• The creation of new or existing products and services.
• The sources for the raw materials or components you need for production.
• Assembling the products
• Maintaining quality control
• Supply-chain logistics (receiving the raw materials and delivering the finished products)
• The day-to-day management of the production processes, bookkeeping, and inventory.

Tips for Writing the Products or Services Section of Your Business Plan

1. Avoid Technical Descriptions and Industry Buzzwords

The products and services section of your business plan should clearly describe the products and services that your company provides. However, it is not a section to include technical jargons that anyone outside your industry will not understand.

A good practice is to remove highly detailed or technical descriptions in favor of simple terms. Industry buzzwords are not necessary, if there are simpler terms you can use, then use them. If you plan to use your business plan to source funds, making the product or service section so technical will do you no favors.

2. Describe How Your Products or Services Differ from Your Competitors

When potential investors look at your business plan, they want to know how the products and services you are offering differ from that of your competition. Differentiating your products or services from your competition in a way that makes your solution more attractive is critical.

If you are going the innovative path and there is no market currently for your product or service, you need to describe in this section why the market needs your product or service.

For example, overnight delivery was a niche business that only a few companies were participating in. Federal Express (FedEx) had to show in its business plan that there was a large opportunity for that service and they justified why the market needed that service.

3. Long or Short Products or Services Section

Should your products or services section be short? Does the long products or services section attract more investors?

There are no straightforward answers to these questions. Whether your products or services section should be long or relatively short depends on the nature of your business.

If your business is product-focused, then automatically you need to use more space to describe the details of your products. However, if the product your business sells is a commodity item that relies on competitive pricing or other pricing strategies, you do not have to use up so much space to provide significant details about the product.

Likewise, if you are selling a commodity that is available in numerous outlets, then you do not have to spend time on writing a long products or services section.

The key to the success of your business is most likely the effectiveness of your marketing strategies compared to your competitors. Use more space to address that section.

If you are creating a new product or service that the market does not know about, your products or services section can be lengthy. The reason why is because you need to explain everything about the product or service such as the nature of the product, its use case, and values.

A short products or services section for an innovative product or service will not give the readers enough information to properly evaluate your business.

4. Describe Your Relationships with Vendors or Suppliers

Your business will rely on vendors or suppliers to supply raw materials or the components needed to make your products. In your products and services section, describe your relationships with your vendors and suppliers fully.

Avoid the mistake of relying on only one supplier or vendor. If that supplier or vendor fails to supply or goes out of business, you can easily face supply problems and struggle to meet your demands. Plan to set up multiple vendor or supplier relationships for better business stability.

5. Your Primary Goal Is to Convince Your Readers

The primary goal of your business plan is to convince your readers that your business is viable and to create a guide for your business to follow. It applies to the products and services section.

When drafting this section, think like the reader. See your reader as someone who has no idea about your products and services. You are using the products and services section to provide the needed information to help your reader understand your products and services. As a result, you have to be clear and to the point.

While you want to educate your readers about your products or services, you also do not want to bore them with lots of technical details. Show your products and services and not your fancy choice of words.

Your products and services section should provide the answer to the “what” question for your business. You and your management team may run the business, but it is your products and services that are the lifeblood of the business.

Key Questions to Answer When Writing your Products and Services Section

Answering these questions can help you write your products and services section quickly and in a way that will appeal to your readers.

• Are your products existing on the market or are they still in the development stage?
• What is your timeline for adding new products and services to the market?
• What are the positives that make your products and services different from your competitors?
• Do your products and services have any competitive advantage that your competitors’ products and services do not currently have?
• Do your products or services have any competitive disadvantages that you need to overcome to compete with your competitors? If your answer is yes, state how you plan to overcome them,
• How much does it cost to produce your products or services? How much do you plan to sell it for?
• What is the price for your products and services compared to your competitors? Is pricing an issue?
• What are your operating costs and will it be low enough for you to compete with your competitors and still take home a reasonable profit margin?
• What is your plan for acquiring your products? Are you involved in the production of your products or services?
• Are you the manufacturer and produce all the components you need to create your products? Do you assemble your products by using components supplied by other manufacturers? Do you purchase your products directly from suppliers or wholesalers?
• Do you have a steady supply of products that you need to start your business? (If your business is yet to kick-off)
• How do you plan to distribute your products or services to the market?

You can also hint at the marketing or promotion plans you have for your products or services such as how you plan to build awareness or retain customers. The next section is where you can go fully into details about your business’s marketing and sales plan.

6. Show and Explain Your Marketing and Sales Plan

Providing great products and services is wonderful, but it means nothing if you do not have a marketing and sales plan to inform your customers about them. Your marketing and sales plan is critical to the success of your business.

The sales and marketing section is where you show and offer a detailed explanation of your marketing and sales plan and how you plan to execute it. It covers your pricing plan, proposed advertising and promotion activities, activities and partnerships you need to make your business a success, and the benefits of your products and services.

There are several ways you can approach your marketing and sales strategy. Ideally, your marketing and sales strategy has to fit the unique needs of your business.

In this section, you describe how the plans your business has for attracting and retaining customers, and the exact process for making a sale happen. It is essential to thoroughly describe your complete marketing and sales plans because you are still going to reference this section when you are making financial projections for your business.

Outline Your Business’ Unique Selling Proposition (USP)

The sales and marketing section is where you outline your business’s unique selling proposition (USP). When you are developing your unique selling proposition, think about the strongest reasons why people should buy from you over your competition. That reason(s) is most likely a good fit to serve as your unique selling proposition (USP).

Target Market and Target Audience

Plans on how to get your products or services to your target market and how to get your target audience to buy them go into this section. You also highlight the strengths of your business here, particularly what sets them apart from your competition.

Before you start writing your marketing and sales plan, you need to have properly defined your target audience and fleshed out your buyer persona. If you do not first understand the individual you are marketing to, your marketing and sales plan will lack any substance and easily fall.

Creating a Smart Marketing and Sales Plan

Marketing your products and services is an investment that requires you to spend money. Like any other investment, you have to generate a good return on investment (ROI) to justify using that marketing and sales plan. Good marketing and sales plans bring in high sales and profits to your company.

Avoid spending money on unproductive marketing channels. Do your research and find out the best marketing and sales plan that works best for your company.

Your marketing and sales plan can be broken into different parts: your positioning statement, pricing, promotion, packaging, advertising, public relations, content marketing, social media, and strategic alliances.

Your Positioning Statement

Your positioning statement is the first part of your marketing and sales plan. It refers to the way you present your company to your customers.

Are you the premium solution, the low-price solution, or are you the intermediary between the two extremes in the market? What do you offer that your competitors do not that can give you leverage in the market?

Before you start writing your positioning statement, you need to spend some time evaluating the current market conditions. Here are some questions that can help you to evaluate the market

• What are the unique features or benefits that you offer that your competitors lack?
• What are your customers’ primary needs and wants?
• Why should a customer choose you over your competition? How do you plan to differentiate yourself from the competition?
• How does your company’s solution compare with other solutions in the market?

After answering these questions, then you can start writing your positioning statement. Your positioning statement does not have to be in-depth or too long.

All you need to explain with your positioning statement are two focus areas. The first is the position of your company within the competitive landscape. The other focus area is the core value proposition that sets your company apart from other alternatives that your ideal customer might consider.

Here is a simple template you can use to develop a positioning statement.

For [description of target market] who [need of target market], [product or service] [how it meets the need]. Unlike [top competition], it [most essential distinguishing feature].

For example, let’s create the positioning statement for fictional accounting software and QuickBooks alternative , TBooks.

“For small business owners who need accounting services, TBooks is an accounting software that helps small businesses handle their small business bookkeeping basics quickly and easily. Unlike Wave, TBooks gives small businesses access to live sessions with top accountants.”

You can edit this positioning statement sample and fill it with your business details.

After writing your positioning statement, the next step is the pricing of your offerings. The overall positioning strategy you set in your positioning statement will often determine how you price your products or services.

Pricing is a powerful tool that sends a strong message to your customers. Failure to get your pricing strategy right can make or mar your business. If you are targeting a low-income audience, setting a premium price can result in low sales.

You can use pricing to communicate your positioning to your customers. For example, if you are offering a product at a premium price, you are sending a message to your customers that the product belongs to the premium category.

Basic Rules to Follow When Pricing Your Offering

Setting a price for your offering involves more than just putting a price tag on it. Deciding on the right pricing for your offering requires following some basic rules. They include covering your costs, primary and secondary profit center pricing, and matching the market rate.

• Covering Your Costs: The price you set for your products or service should be more than it costs you to produce and deliver them. Every business has the same goal, to make a profit. Depending on the strategy you want to use, there are exceptions to this rule. However, the vast majority of businesses follow this rule.
• Primary and Secondary Profit Center Pricing: When a company sets its price above the cost of production, it is making that product its primary profit center. A company can also decide not to make its initial price its primary profit center by selling below or at even with its production cost. It rather depends on the support product or even maintenance that is associated with the initial purchase to make its profit. The initial price thus became its secondary profit center.
• Matching the Market Rate: A good rule to follow when pricing your products or services is to match your pricing with consumer demand and expectations. If you price your products or services beyond the price your customer perceives as the ideal price range, you may end up with no customers. Pricing your products too low below what your customer perceives as the ideal price range may lead to them undervaluing your offering.

Pricing Strategy

Your pricing strategy influences the price of your offering. There are several pricing strategies available for you to choose from when examining the right pricing strategy for your business. They include cost-plus pricing, market-based pricing, value pricing, and more.

• Cost-plus Pricing: This strategy is one of the simplest and oldest pricing strategies. Here you consider the cost of producing a unit of your product and then add a profit to it to arrive at your market price. It is an effective pricing strategy for manufacturers because it helps them cover their initial costs. Another name for the cost-plus pricing strategy is the markup pricing strategy.
• Market-based Pricing: This pricing strategy analyses the market including competitors’ pricing and then sets a price based on what the market is expecting. With this pricing strategy, you can either set your price at the low-end or high-end of the market.
• Value Pricing: This pricing strategy involves setting a price based on the value you are providing to your customer. When adopting a value-based pricing strategy, you have to set a price that your customers are willing to pay. Service-based businesses such as small business insurance providers , luxury goods sellers, and the fashion industry use this pricing strategy.

After carefully sorting out your positioning statement and pricing, the next item to look at is your promotional strategy. Your promotional strategy explains how you plan on communicating with your customers and prospects.

As a business, you must measure all your costs, including the cost of your promotions. You also want to measure how much sales your promotions bring for your business to determine its usefulness. Promotional strategies or programs that do not lead to profit need to be removed.

There are different types of promotional strategies you can adopt for your business, they include advertising, public relations, and content marketing.

Advertising

Your business plan should include your advertising plan which can be found in the marketing and sales plan section. You need to include an overview of your advertising plans such as the areas you plan to spend money on to advertise your business and offers.

Ensure that you make it clear in this section if your business will be advertising online or using the more traditional offline media, or the combination of both online and offline media. You can also include the advertising medium you want to use to raise awareness about your business and offers.

Some common online advertising mediums you can use include social media ads, landing pages, sales pages, SEO, Pay-Per-Click, emails, Google Ads, and others. Some common traditional and offline advertising mediums include word of mouth, radios, direct mail, televisions, flyers, billboards, posters, and others.

A key component of your advertising strategy is how you plan to measure the effectiveness and success of your advertising campaign. There is no point in sticking with an advertising plan or medium that does not produce results for your business in the long run.

Public Relations

A great way to reach your customers is to get the media to cover your business or product. Publicity, especially good ones, should be a part of your marketing and sales plan. In this section, show your plans for getting prominent reviews of your product from reputable publications and sources.

Your business needs that exposure to grow. If public relations is a crucial part of your promotional strategy, provide details about your public relations plan here.

Content Marketing

Content marketing is a popular promotional strategy used by businesses to inform and attract their customers. It is about teaching and educating your prospects on various topics of interest in your niche, it does not just involve informing them about the benefits and features of the products and services you have,

Businesses publish content usually for free where they provide useful information, tips, and advice so that their target market can be made aware of the importance of their products and services. Content marketing strategies seek to nurture prospects into buyers over time by simply providing value.

Your company can create a blog where it will be publishing content for its target market. You will need to use the best website builder such as Wix and Squarespace and the best web hosting services such as Bluehost, Hostinger, and other Bluehost alternatives to create a functional blog or website.

If content marketing is a crucial part of your promotional strategy (as it should be), detail your plans under promotions.

Including high-quality images of the packaging of your product in your business plan is a lovely idea. You can add the images of the packaging of that product in the marketing and sales plan section. If you are not selling a product, then you do not need to include any worry about the physical packaging of your product.

When organizing the packaging section of your business plan, you can answer the following questions to make maximum use of this section.

• Is your choice of packaging consistent with your positioning strategy?
• What key value proposition does your packaging communicate? (It should reflect the key value proposition of your business)
• How does your packaging compare to that of your competitors?

Social Media

Your 21st-century business needs to have a good social media presence. Not having one is leaving out opportunities for growth and reaching out to your prospect.

You do not have to join the thousands of social media platforms out there. What you need to do is join the ones that your customers are active on and be active there.

Businesses use social media to provide information about their products such as promotions, discounts, the benefits of their products, and content on their blogs.

Social media is also a platform for engaging with your customers and getting feedback about your products or services. Make no mistake, more and more of your prospects are using social media channels to find more information about companies.

You need to consider the social media channels you want to prioritize your business (prioritize the ones your customers are active in) and your branding plans in this section.

Strategic Alliances

If your company plans to work closely with other companies as part of your sales and marketing plan, include it in this section. Prove details about those partnerships in your business plan if you have already established them.

Strategic alliances can be beneficial for all parties involved including your company. Working closely with another company in the form of a partnership can provide access to a different target market segment for your company.

The company you are partnering with may also gain access to your target market or simply offer a new product or service (that of your company) to its customers.

Mutually beneficial partnerships can cover the weaknesses of one company with the strength of another. You should consider strategic alliances with companies that sell complimentary products to yours. For example, if you provide printers, you can partner with a company that produces ink since the customers that buy printers from you will also need inks for printing.

Steps Involved in Creating a Marketing and Sales Plan

1. Focus on Your Target Market

Identify who your customers are, the market you want to target. Then determine the best ways to get your products or services to your potential customers.

2. Evaluate Your Competition

One of the goals of having a marketing plan is to distinguish yourself from your competition. You cannot stand out from them without first knowing them in and out.

You can know your competitors by gathering information about their products, pricing, service, and advertising campaigns.

These questions can help you know your competition.

• What makes your competition successful?
• What are their weaknesses?
• What are customers saying about your competition?

3. Consider Your Brand

Customers' perception of your brand has a strong impact on your sales. Your marketing and sales plan should seek to bolster the image of your brand. Before you start marketing your business, think about the message you want to pass across about your business and your products and services.

4. Focus on Benefits

The majority of your customers do not view your product in terms of features, what they want to know is the benefits and solutions your product offers. Think about the problems your product solves and the benefits it delivers, and use it to create the right sales and marketing message.

Your marketing plan should focus on what you want your customer to get instead of what you provide. Identify those benefits in your marketing and sales plan.

5. Focus on Differentiation

Your marketing and sales plan should look for a unique angle they can take that differentiates your business from the competition, even if the products offered are similar. Some good areas of differentiation you can use are your benefits, pricing, and features.

Key Questions to Answer When Writing Your Marketing and Sales Plan

• What is your company’s budget for sales and marketing campaigns?
• What key metrics will you use to determine if your marketing plans are successful?
• What are your alternatives if your initial marketing efforts do not succeed?
• Who are the sales representatives you need to promote your products or services?
• What are the marketing and sales channels you plan to use? How do you plan to get your products in front of your ideal customers?
• Where will you sell your products?

You may want to include samples of marketing materials you plan to use such as print ads, website descriptions, and social media ads. While it is not compulsory to include these samples, it can help you better communicate your marketing and sales plan and objectives.

The purpose of the marketing and sales section is to answer this question “How will you reach your customers?” If you cannot convincingly provide an answer to this question, you need to rework your marketing and sales section.

7. Clearly Show Your Funding Request

If you are writing your business plan to ask for funding from investors or financial institutions, the funding request section is where you will outline your funding requirements. The funding request section should answer the question ‘How much money will your business need in the near future (3 to 5 years)?’

A good funding request section will clearly outline and explain the amount of funding your business needs over the next five years. You need to know the amount of money your business needs to make an accurate funding request.

Also, when writing your funding request, provide details of how the funds will be used over the period. Specify if you want to use the funds to buy raw materials or machinery, pay salaries, pay for advertisements, and cover specific bills such as rent and electricity.

In addition to explaining what you want to use the funds requested for, you need to clearly state the projected return on investment (ROI) . Investors and creditors want to know if your business can generate profit for them if they put funds into it.

Ensure you do not inflate the figures and stay as realistic as possible. Investors and financial institutions you are seeking funds from will do their research before investing money in your business.

If you are not sure of an exact number to request from, you can use some range of numbers as rough estimates. Add a best-case scenario and a work-case scenario to your funding request. Also, include a description of your strategic future financial plans such as selling your business or paying off debts.

Funding Request: Debt or Equity?

When making your funding request, specify the type of funding you want. Do you want debt or equity? Draw out the terms that will be applicable for the funding, and the length of time the funding request will cover.

Case for Equity

If your new business has not yet started generating profits, you are most likely preparing to sell equity in your business to raise capital at the early stage. Equity here refers to ownership. In this case, you are selling a portion of your company to raise capital.

Although this method of raising capital for your business does not put your business in debt, keep in mind that an equity owner may expect to play a key role in company decisions even if he does not hold a major stake in the company.

Most equity sales for startups are usually private transactions . If you are making a funding request by offering equity in exchange for funding, let the investor know that they will be paid a dividend (a share of the company’s profit). Also, let the investor know the process for selling their equity in your business.

Case for Debt

You may decide not to offer equity in exchange for funds, instead, you make a funding request with the promise to pay back the money borrowed at the agreed time frame.

When making a funding request with an agreement to pay back, note that you will have to repay your creditors both the principal amount borrowed and the interest on it. Financial institutions offer this type of funding for businesses.

Large companies combine both equity and debt in their capital structure. When drafting your business plan, decide if you want to offer both or one over the other.

Before you sell equity in exchange for funding in your business, consider if you are willing to accept not being in total control of your business. Also, before you seek loans in your funding request section, ensure that the terms of repayment are favorable.

You should set a clear timeline in your funding request so that potential investors and creditors can know what you are expecting. Some investors and creditors may agree to your funding request and then delay payment for longer than 30 days, meanwhile, your business needs an immediate cash injection to operate efficiently.

Additional Tips for Writing the Funding Request Section of your Business Plan

The funding request section is not necessary for every business, it is only needed by businesses who plan to use their business plan to secure funding.

If you are adding the funding request section to your business plan, provide an itemized summary of how you plan to use the funds requested. Hiring a lawyer, accountant, or other professionals may be necessary for the proper development of this section.

You should also gather and use financial statements that add credibility and support to your funding requests. Ensure that the financial statements you use should include your projected financial data such as projected cash flows, forecast statements, and expenditure budgets.

If you are an existing business, include all historical financial statements such as cash flow statements, balance sheets and income statements .

Provide monthly and quarterly financial statements for a year. If your business has records that date back beyond the one-year mark, add the yearly statements of those years. These documents are for the appendix section of your business plan.

8. Detail Your Financial Plan, Metrics, and Projections

If you used the funding request section in your business plan, supplement it with a financial plan, metrics, and projections. This section paints a picture of the past performance of your business and then goes ahead to make an informed projection about its future.

The goal of this section is to convince readers that your business is going to be a financial success. It outlines your business plan to generate enough profit to repay the loan (with interest if applicable) and to generate a decent return on investment for investors.

If you have an existing business already in operation, use this section to demonstrate stability through finance. This section should include your cash flow statements, balance sheets, and income statements covering the last three to five years. If your business has some acceptable collateral that you can use to acquire loans, list it in the financial plan, metrics, and projection section.

Apart from current financial statements, this section should also contain a prospective financial outlook that spans the next five years. Include forecasted income statements, cash flow statements, balance sheets, and capital expenditure budget.

If your business is new and is not yet generating profit, use clear and realistic projections to show the potentials of your business.

When drafting this section, research industry norms and the performance of comparable businesses. Your financial projections should cover at least five years. State the logic behind your financial projections. Remember you can always make adjustments to this section as the variables change.

The financial plan, metrics, and projection section create a baseline which your business can either exceed or fail to reach. If your business fails to reach your projections in this section, you need to understand why it failed.

Investors and loan managers spend a lot of time going through the financial plan, metrics, and projection section compared to other parts of the business plan. Ensure you spend time creating credible financial analyses for your business in this section.

Many entrepreneurs find this section daunting to write. You do not need a business degree to create a solid financial forecast for your business. Business finances, especially for startups, are not as complicated as they seem. There are several online tools and templates that make writing this section so much easier.

Use Graphs and Charts

The financial plan, metrics, and projection section is a great place to use graphs and charts to tell the financial story of your business. Charts and images make it easier to communicate your finances.

Accuracy in this section is key, ensure you carefully analyze your past financial statements properly before making financial projects.

Address the Risk Factors and Show Realistic Financial Projections

Keep your financial plan, metrics, and projection realistic. It is okay to be optimistic in your financial projection, however, you have to justify it.

You should also address the various risk factors associated with your business in this section. Investors want to know the potential risks involved, show them. You should also show your plans for mitigating those risks.

What You Should In The Financial Plan, Metrics, and Projection Section of Your Business Plan

The financial plan, metrics, and projection section of your business plan should have monthly sales and revenue forecasts for the first year. It should also include annual projections that cover 3 to 5 years.

A three-year projection is a basic requirement to have in your business plan. However, some investors may request a five-year forecast.

Your business plan should include the following financial statements: sales forecast, personnel plan, income statement, income statement, cash flow statement, balance sheet, and an exit strategy.

1. Sales Forecast

Sales forecast refers to your projections about the number of sales your business is going to record over the next few years. It is typically broken into several rows, with each row assigned to a core product or service that your business is offering.

One common mistake people make in their business plan is to break down the sales forecast section into long details. A sales forecast should forecast the high-level details.

For example, if you are forecasting sales for a payroll software provider, you could break down your forecast into target market segments or subscription categories.

Your sales forecast section should also have a corresponding row for each sales row to cover the direct cost or Cost of Goods Sold (COGS). The objective of these rows is to show the expenses that your business incurs in making and delivering your product or service.

Note that your Cost of Goods Sold (COGS) should only cover those direct costs incurred when making your products. Other indirect expenses such as insurance, salaries, payroll tax, and rent should not be included.

For example, the Cost of Goods Sold (COGS) for a restaurant is the cost of ingredients while for a consulting company it will be the cost of paper and other presentation materials.

2. Personnel Plan

The personnel plan section is where you provide details about the payment plan for your employees. For a small business, you can easily list every position in your company and how much you plan to pay in the personnel plan.

However, for larger businesses, you have to break the personnel plan into functional groups such as sales and marketing.

The personnel plan will also include the cost of an employee beyond salary, commonly referred to as the employee burden. These costs include insurance, payroll taxes , and other essential costs incurred monthly as a result of having employees on your payroll.

3. Income Statement

The income statement section shows if your business is making a profit or taking a loss. Another name for the income statement is the profit and loss (P&L). It takes data from your sales forecast and personnel plan and adds other ongoing expenses you incur while running your business.

Every business plan should have an income statement. It subtracts your business expenses from its earnings to show if your business is generating profit or incurring losses.

The income statement has the following items: sales, Cost of Goods Sold (COGS), gross margin, operating expenses, total operating expenses, operating income , total expenses, and net profit.

• Sales refer to the revenue your business generates from selling its products or services. Other names for sales are income or revenue.
• Cost of Goods Sold (COGS) refers to the total cost of selling your products. Other names for COGS are direct costs or cost of sales. Manufacturing businesses use the Costs of Goods Manufactured (COGM) .
• Gross Margin is the figure you get when you subtract your COGS from your sales. In your income statement, you can express it as a percentage of total sales (Gross margin / Sales = Gross Margin Percent).
• Operating Expenses refer to all the expenses you incur from running your business. It exempts the COGS because it stands alone as a core part of your income statement. You also have to exclude taxes, depreciation, and amortization. Your operating expenses include salaries, marketing expenses, research and development (R&D) expenses, and other expenses.
• Total Operating Expenses refers to the sum of all your operating expenses including those exemptions named above under operating expenses.
• Operating Income refers to earnings before interest, taxes, depreciation, and amortization. It is simply known as the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization). Calculating your operating income is simple, all you need to do is to subtract your COGS and total operating expenses from your sales.
• Total Expenses refer to the sum of your operating expenses and your business’ interest, taxes, depreciation, and amortization.
• Net profit shows whether your business has made a profit or taken a loss during a given timeframe.

4. Cash Flow Statement

The cash flow statement tracks the money you have in the bank at any given point. It is often confused with the income statement or the profit and loss statement. They are both different types of financial statements. The income statement calculates your profits and losses while the cash flow statement shows you how much you have in the bank.

5. Balance Sheet

The balance sheet is a financial statement that provides an overview of the financial health of your business. It contains information about the assets and liabilities of your company, and owner’s or shareholders’ equity.

You can get the net worth of your company by subtracting your company’s liabilities from its assets.

6. Exit Strategy

The exit strategy refers to a probable plan for selling your business either to the public in an IPO or to another company. It is the last thing you include in the financial plan, metrics, and projection section.

You can choose to omit the exit strategy from your business plan if you plan to maintain full ownership of your business and do not plan on seeking angel investment or virtual capitalist (VC) funding.

Investors may want to know what your exit plan is. They invest in your business to get a good return on investment.

Your exit strategy does not have to include long and boring details. Ensure you identify some interested parties who may be interested in buying the company if it becomes a success.

Key Questions to Answer with Your Financial Plan, Metrics, and Projection

Your financial plan, metrics, and projection section helps investors, creditors, or your internal managers to understand what your expenses are, the amount of cash you need, and what it takes to make your company profitable. It also shows what you will be doing with any funding.

You do not need to show actual financial data if you do not have one. Adding forecasts and projections to your financial statements is added proof that your strategy is feasible and shows investors you have planned properly.

Here are some key questions to answer to help you develop this section.

• What is your sales forecast for the next year?
• When will your company achieve a positive cash flow?
• What are the core expenses you need to operate?
• How much money do you need upfront to operate or grow your company?
• How will you use the loans or investments?

9. Add an Appendix to Your Business Plan

Adding an appendix to your business plan is optional. It is a useful place to put any charts, tables, legal notes, definitions, permits, résumés, and other critical information that do not fit into other sections of your business plan.

The appendix section is where you would want to include details of a patent or patent-pending if you have one. You can always add illustrations or images of your products here. It is the last section of your business plan.

When writing your business plan, there are details you cut short or remove to prevent the entire section from becoming too lengthy. There are also details you want to include in the business plan but are not a good fit for any of the previous sections. You can add that additional information to the appendix section.

Businesses also use the appendix section to include supporting documents or other materials specially requested by investors or lenders.

You can include just about any information that supports the assumptions and statements you made in the business plan under the appendix. It is the one place in the business plan where unrelated data and information can coexist amicably.

If your appendix section is lengthy, try organizing it by adding a table of contents at the beginning of the appendix section. It is also advisable to group similar information to make it easier for the reader to access them.

A well-organized appendix section makes it easier to share your information clearly and concisely. Add footnotes throughout the rest of the business plan or make references in the plan to the documents in the appendix.

The appendix section is usually only necessary if you are seeking funding from investors or lenders, or hoping to attract partners.

People reading business plans do not want to spend time going through a heap of backup information, numbers, and charts. Keep these documents or information in the Appendix section in case the reader wants to dig deeper.

Common Items to Include in the Appendix Section of Your Business Plan

The appendix section includes documents that supplement or support the information or claims given in other sections of the business plans. Common items you can include in the appendix section include:

• Additional data about the process of manufacturing or creation
• Additional description of products or services such as product schematics
• Additional financial documents or projections
• Articles of incorporation and status
• Backup for market research or competitive analysis
• Bank statements
• Business registries
• Client testimonials (if your business is already running)
• Copies of insurances
• Credit histories (personal or/and business)
• Deeds and permits
• Equipment leases
• Examples of marketing and advertising collateral
• Industry associations and memberships
• Images of product
• Intellectual property
• Key customer contracts
• Legal documents and other contracts
• Letters of reference
• Links to references
• Market research data
• Organizational charts
• Photographs of potential facilities
• Professional licenses pertaining to your legal structure or type of business
• Purchase orders
• Resumes of the founder(s) and key managers
• State and federal identification numbers or codes
• Trademarks or patents’ registrations

Avoid using the appendix section as a place to dump any document or information you feel like adding. Only add documents or information that you support or increase the credibility of your business plan.

Tips and Strategies for Writing a Convincing Business Plan

To achieve a perfect business plan, you need to consider some key tips and strategies. These tips will raise the efficiency of your business plan above average.

1. Know Your Audience

When writing a business plan, you need to know your audience . Business owners write business plans for different reasons. Your business plan has to be specific. For example, you can write business plans to potential investors, banks, and even fellow board members of the company.

The audience you are writing to determines the structure of the business plan. As a business owner, you have to know your audience. Not everyone will be your audience. Knowing your audience will help you to narrow the scope of your business plan.

Consider what your audience wants to see in your projects, the likely questions they might ask, and what interests them.

• A business plan used to address a company's board members will center on its employment schemes, internal affairs, projects, stakeholders, etc.
• A business plan for financial institutions will talk about the size of your market and the chances for you to pay back any loans you demand.
• A business plan for investors will show proof that you can return the investment capital within a specific time. In addition, it discusses your financial projections, tractions, and market size.

2. Get Inspiration from People

Writing a business plan from scratch as an entrepreneur can be daunting. That is why you need the right inspiration to push you to write one. You can gain inspiration from the successful business plans of other businesses. Look at their business plans, the style they use, the structure of the project, etc.

To make your business plan easier to create, search companies related to your business to get an exact copy of what you need to create an effective business plan. You can also make references while citing examples in your business plans.

When drafting your business plan, get as much help from others as you possibly can. By getting inspiration from people, you can create something better than what they have.

3. Avoid Being Over Optimistic

Many business owners make use of strong adjectives to qualify their content. One of the big mistakes entrepreneurs make when preparing a business plan is promising too much.

The use of superlatives and over-optimistic claims can prepare the audience for more than you can offer. In the end, you disappoint the confidence they have in you.

In most cases, the best option is to be realistic with your claims and statistics. Most of the investors can sense a bit of incompetency from the overuse of superlatives. As a new entrepreneur, do not be tempted to over-promise to get the interests of investors.

The concept of entrepreneurship centers on risks, nothing is certain when you make future analyses. What separates the best is the ability to do careful research and work towards achieving that, not promising more than you can achieve.

To make an excellent first impression as an entrepreneur, replace superlatives with compelling data-driven content. In this way, you are more specific than someone promising a huge ROI from an investment.

4. Keep it Simple and Short

When writing business plans, ensure you keep them simple throughout. Irrespective of the purpose of the business plan, your goal is to convince the audience.

One way to achieve this goal is to make them understand your proposal. Therefore, it would be best if you avoid the use of complex grammar to express yourself. It would be a huge turn-off if the people you want to convince are not familiar with your use of words.

Another thing to note is the length of your business plan. It would be best if you made it as brief as possible.

You hardly see investors or agencies that read through an extremely long document. In that case, if your first few pages can’t convince them, then you have lost it. The more pages you write, the higher the chances of you derailing from the essential contents.

To ensure your business plan has a high conversion rate, you need to dispose of every unnecessary information. For example, if you have a strategy that you are not sure of, it would be best to leave it out of the plan.

5. Make an Outline and Follow Through

A perfect business plan must have touched every part needed to convince the audience. Business owners get easily tempted to concentrate more on their products than on other sections. Doing this can be detrimental to the efficiency of the business plan.

For example, imagine you talking about a product but omitting or providing very little information about the target audience. You will leave your clients confused.

To ensure that your business plan communicates your full business model to readers, you have to input all the necessary information in it. One of the best ways to achieve this is to design a structure and stick to it.

This structure is what guides you throughout the writing. To make your work easier, you can assign an estimated word count or page limit to every section to avoid making it too bulky for easy reading. As a guide, the necessary things your business plan must contain are:

• Table of contents
• Introduction
• Product or service description
• Target audience
• Market size
• Competition analysis
• Financial projections

Some specific businesses can include some other essential sections, but these are the key sections that must be in every business plan.

6. Ask a Professional to Proofread

When writing a business plan, you must tie all loose ends to get a perfect result. When you are done with writing, call a professional to go through the document for you. You are bound to make mistakes, and the way to correct them is to get external help.

You should get a professional in your field who can relate to every section of your business plan. It would be easier for the professional to notice the inner flaws in the document than an editor with no knowledge of your business.

In addition to getting a professional to proofread, get an editor to proofread and edit your document. The editor will help you identify grammatical errors, spelling mistakes, and inappropriate writing styles.

Writing a business plan can be daunting, but you can surmount that obstacle and get the best out of it with these tips.

Business Plan Examples and Templates That’ll Save You Tons of Time

1. hubspot's one-page business plan.

The one-page business plan template by HubSpot is the perfect guide for businesses of any size, irrespective of their business strategy. Although the template is condensed into a page, your final business plan should not be a page long! The template is designed to ask helpful questions that can help you develop your business plan.

Hubspot’s one-page business plan template is divided into nine fields:

• Business opportunity
• Company description
• Industry analysis
• Target market
• Implementation timeline
• Marketing plan
• Financial summary
• Funding required

2. Bplan’s Free Business Plan Template

Bplans' free business plan template is investor-approved. It is a rich template used by prestigious educational institutions such as Babson College and Princeton University to teach entrepreneurs how to create a business plan.

The template has six sections: the executive summary, opportunity, execution, company, financial plan, and appendix. There is a step-by-step guide for writing every little detail in the business plan. Follow the instructions each step of the way and you will create a business plan that impresses investors or lenders easily.

3. HubSpot's Downloadable Business Plan Template

HubSpot’s downloadable business plan template is a more comprehensive option compared to the one-page business template by HubSpot. This free and downloadable business plan template is designed for entrepreneurs.

The template is a comprehensive guide and checklist for business owners just starting their businesses. It tells you everything you need to fill in each section of the business plan and how to do it.

There are nine sections in this business plan template: an executive summary, company and business description, product and services line, market analysis, marketing plan, sales plan, legal notes, financial considerations, and appendix.

4. Business Plan by My Own Business Institute

My Own Business Institute (MOBI) which is a part of Santa Clara University's Center for Innovation and Entrepreneurship offers a free business plan template. You can either copy the free business template from the link provided above or download it as a Word document.

The comprehensive template consists of a whopping 15 sections.

• The Business Profile
• The Vision and the People
• Home-Based Business and Freelance Business Opportunities
• Organization
• Licenses and Permits
• Business Insurance
• Communication Tools
• Acquisitions
• Location and Leasing
• Accounting and Cash Flow
• Opening and Marketing
• Managing Employees
• Expanding and Handling Problems

There are lots of helpful tips on how to fill each section in the free business plan template by MOBI.

5. Score's Business Plan Template for Startups

Score is an American nonprofit organization that helps entrepreneurs build successful companies. This business plan template for startups by Score is available for free download. The business plan template asks a whooping 150 generic questions that help entrepreneurs from different fields to set up the perfect business plan.

The business plan template for startups contains clear instructions and worksheets, all you have to do is answer the questions and fill the worksheets.

There are nine sections in the business plan template: executive summary, company description, products and services, marketing plan, operational plan, management and organization, startup expenses and capitalization, financial plan, and appendices.

The ‘refining the plan’ resource contains instructions that help you modify your business plan to suit your specific needs, industry, and target audience. After you have completed Score’s business plan template, you can work with a SCORE mentor for expert advice in business planning.

6. Minimalist Architecture Business Plan Template by Venngage

The minimalist architecture business plan template is a simple template by Venngage that you can customize to suit your business needs .

There are five sections in the template: an executive summary, statement of problem, approach and methodology, qualifications, and schedule and benchmark. The business plan template has instructions that guide users on what to fill in each section.

7. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers two free business plan templates, filled with practical real-life examples that you can model to create your business plan. Both free business plan templates are written by fictional business owners: Rebecca who owns a consulting firm, and Andrew who owns a toy company.

There are five sections in the two SBA’s free business plan templates.

• Executive Summary
• Company Description
• Service Line
• Marketing and Sales

8. The $100 Startup's One-Page Business Plan

The one-page business plan by the $100 startup is a simple business plan template for entrepreneurs who do not want to create a long and complicated plan . You can include more details in the appendices for funders who want more information beyond what you can put in the one-page business plan.

There are five sections in the one-page business plan such as overview, ka-ching, hustling, success, and obstacles or challenges or open questions. You can answer all the questions using one or two sentences.

9. PandaDoc’s Free Business Plan Template

The free business plan template by PandaDoc is a comprehensive 15-page document that describes the information you should include in every section.

There are 11 sections in PandaDoc’s free business plan template.

• Executive summary
• Business description
• Products and services
• Operations plan
• Management organization
• Financial plan
• Conclusion / Call to action
• Confidentiality statement

You have to sign up for its 14-day free trial to access the template. You will find different business plan templates on PandaDoc once you sign up (including templates for general businesses and specific businesses such as bakeries, startups, restaurants, salons, hotels, and coffee shops)

PandaDoc allows you to customize its business plan templates to fit the needs of your business. After editing the template, you can send it to interested parties and track opens and views through PandaDoc.

10. Invoiceberry Templates for Word, Open Office, Excel, or PPT

InvoiceBerry is a U.K based online invoicing and tracking platform that offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats for freelancers and small businesses.

Before you can download the free business plan template, it will ask you to give it your email address. After you complete the little task, it will send the download link to your inbox for you to download. It also provides a business plan checklist in .xlsx file format that ensures you add the right information to the business plan.

Alternatives to the Traditional Business Plan

A business plan is very important in mapping out how one expects their business to grow over a set number of years, particularly when they need external investment in their business. However, many investors do not have the time to watch you present your business plan. It is a long and boring read.

Luckily, there are three alternatives to the traditional business plan (the Business Model Canvas, Lean Canvas, and Startup Pitch Deck). These alternatives are less laborious and easier and quicker to present to investors.

Business Model Canvas (BMC)

The business model canvas is a business tool used to present all the important components of setting up a business, such as customers, route to market, value proposition, and finance in a single sheet. It provides a very focused blueprint that defines your business initially which you can later expand on if needed.

The sheet is divided mainly into company, industry, and consumer models that are interconnected in how they find problems and proffer solutions.

Segments of the Business Model Canvas

The business model canvas was developed by founder Alexander Osterwalder to answer important business questions. It contains nine segments.

• Key Partners: Who will be occupying important executive positions in your business? What do they bring to the table? Will there be a third party involved with the company?
• Key Activities: What important activities will production entail? What activities will be carried out to ensure the smooth running of the company?
• The Product’s Value Propositions: What does your product do? How will it be different from other products?
• Customer Segments: What demography of consumers are you targeting? What are the habits of these consumers? Who are the MVPs of your target consumers?
• Customer Relationships: How will the team support and work with its customer base? How do you intend to build and maintain trust with the customer?
• Key Resources: What type of personnel and tools will be needed? What size of the budget will they need access to?
• Channels: How do you plan to create awareness of your products? How do you intend to transport your product to the customer?
• Cost Structure: What is the estimated cost of production? How much will distribution cost?
• Revenue Streams: For what value are customers willing to pay? How do they prefer to pay for the product? Are there any external revenues attached apart from the main source? How do the revenue streams contribute to the overall revenue?

Lean Canvas

The lean canvas is a problem-oriented alternative to the standard business model canvas. It was proposed by Ash Maurya, creator of Lean Stack as a development of the business model generation. It uses a more problem-focused approach and it majorly targets entrepreneurs and startup businesses.

Lean Canvas uses the same 9 blocks concept as the business model canvas, however, they have been modified slightly to suit the needs and purpose of a small startup. The key partners, key activities, customer relationships, and key resources are replaced by new segments which are:

• Problem: Simple and straightforward number of problems you have identified, ideally three.
• Solution: The solutions to each problem.
• Unfair Advantage: Something you possess that can't be easily bought or replicated.
• Key Metrics: Important numbers that will tell how your business is doing.

Startup Pitch Deck

While the business model canvas compresses into a factual sheet, startup pitch decks expand flamboyantly.

Pitch decks, through slides, convey your business plan, often through graphs and images used to emphasize estimations and observations in your presentation. Entrepreneurs often use pitch decks to fully convince their target audience of their plans before discussing funding arrangements.

Considering the likelihood of it being used in a small time frame, a good startup pitch deck should ideally contain 20 slides or less to have enough time to answer questions from the audience.

Unlike the standard and lean business model canvases, a pitch deck doesn't have a set template on how to present your business plan but there are still important components to it. These components often mirror those of the business model canvas except that they are in slide form and contain more details.

Using Airbnb (one of the most successful start-ups in recent history) for reference, the important components of a good slide are listed below.

• Cover/Introduction Slide: Here, you should include your company's name and mission statement. Your mission statement should be a very catchy tagline. Also, include personal information and contact details to provide an easy link for potential investors.
• Problem Slide: This slide requires you to create a connection with the audience or the investor that you are pitching. For example in their pitch, Airbnb summarized the most important problems it would solve in three brief points – pricing of hotels, disconnection from city culture, and connection problems for local bookings.
• Solution Slide: This slide includes your core value proposition. List simple and direct solutions to the problems you have mentioned
• Customer Analysis: Here you will provide information on the customers you will be offering your service to. The identity of your customers plays an important part in fundraising as well as the long-run viability of the business.
• Market Validation: Use competitive analysis to show numbers that prove the presence of a market for your product, industry behavior in the present and the long run, as well as the percentage of the market you aim to attract. It shows that you understand your competitors and customers and convinces investors of the opportunities presented in the market.
• Business Model: Your business model is the hook of your presentation. It may vary in complexity but it should generally include a pricing system informed by your market analysis. The goal of the slide is to confirm your business model is easy to implement.
• Marketing Strategy: This slide should summarize a few customer acquisition methods that you plan to use to grow the business.
• Competitive Advantage: What this slide will do is provide information on what will set you apart and make you a more attractive option to customers. It could be the possession of technology that is not widely known in the market.
• Team Slide: Here you will give a brief description of your team. Include your key management personnel here and their specific roles in the company. Include their educational background, job history, and skillsets. Also, talk about their accomplishments in their careers so far to build investors' confidence in members of your team.
• Traction Slide: This validates the company’s business model by showing growth through early sales and support. The slide aims to reduce any lingering fears in potential investors by showing realistic periodic milestones and profit margins. It can include current sales, growth, valuable customers, pre-orders, or data from surveys outlining current consumer interest.
• Funding Slide: This slide is popularly referred to as ‘the ask'. Here you will include important details like how much is needed to get your business off the ground and how the funding will be spent to help the company reach its goals.
• Appendix Slides: Your pitch deck appendix should always be included alongside a standard pitch presentation. It consists of additional slides you could not show in the pitch deck but you need to complement your presentation.

It is important to support your calculations with pictorial renditions. Infographics, such as pie charts or bar graphs, will be more effective in presenting the information than just listing numbers. For example, a six-month graph that shows rising profit margins will easily look more impressive than merely writing it.

Lastly, since a pitch deck is primarily used to secure meetings and you may be sharing your pitch with several investors, it is advisable to keep a separate public version that doesn't include financials. Only disclose the one with projections once you have secured a link with an investor.

Advantages of the Business Model Canvas, Lean Canvas, and Startup Pitch Deck over the Traditional Business Plan

• Time-Saving: Writing a detailed traditional business plan could take weeks or months. On the other hand, all three alternatives can be done in a few days or even one night of brainstorming if you have a comprehensive understanding of your business.
• Easier to Understand: Since the information presented is almost entirely factual, it puts focus on what is most important in running the business. They cut away the excess pages of fillers in a traditional business plan and allow investors to see what is driving the business and what is getting in the way.
• Easy to Update: Businesses typically present their business plans to many potential investors before they secure funding. What this means is that you may regularly have to amend your presentation to update statistics or adjust to audience-specific needs. For a traditional business plan, this could mean rewriting a whole section of your plan. For the three alternatives, updating is much easier because they are not voluminous.
• Guide for a More In-depth Business Plan: All three alternatives have the added benefit of being able to double as a sketch of your business plan if the need to create one arises in the future.

Business Plan FAQ

Business plans are important for any entrepreneur who is looking for a framework to run their company over some time or seeking external support. Although they are essential for new businesses, every company should ideally have a business plan to track their growth from time to time.  They can be used by startups seeking investments or loans to convey their business ideas or an employee to convince his boss of the feasibility of starting a new project. They can also be used by companies seeking to recruit high-profile employee targets into key positions or trying to secure partnerships with other firms.

Business plans often vary depending on your target audience, the scope, and the goals for the plan. Startup plans are the most common among the different types of business plans.  A start-up plan is used by a new business to present all the necessary information to help get the business up and running. They are usually used by entrepreneurs who are seeking funding from investors or bank loans. The established company alternative to a start-up plan is a feasibility plan. A feasibility plan is often used by an established company looking for new business opportunities. They are used to show the upsides of creating a new product for a consumer base. Because the audience is usually company people, it requires less company analysis. The third type of business plan is the lean business plan. A lean business plan is a brief, straight-to-the-point breakdown of your ideas and analysis for your business. It does not contain details of your proposal and can be written on one page. Finally, you have the what-if plan. As it implies, a what-if plan is a preparation for the worst-case scenario. You must always be prepared for the possibility of your original plan being rejected. A good what-if plan will serve as a good plan B to the original.

A good business plan has 10 key components. They include an executive plan, product analysis, desired customer base, company analysis, industry analysis, marketing strategy, sales strategy, financial projection, funding, and appendix. Executive Plan Your business should begin with your executive plan. An executive plan will provide early insight into what you are planning to achieve with your business. It should include your mission statement and highlight some of the important points which you will explain later. Product Analysis The next component of your business plan is your product analysis. A key part of this section is explaining the type of item or service you are going to offer as well as the market problems your product will solve. Desired Consumer Base Your product analysis should be supplemented with a detailed breakdown of your desired consumer base. Investors are always interested in knowing the economic power of your market as well as potential MVP customers. Company Analysis The next component of your business plan is your company analysis. Here, you explain how you want to run your business. It will include your operational strategy, an insight into the workforce needed to keep the company running, and important executive positions. It will also provide a calculation of expected operational costs.  Industry Analysis A good business plan should also contain well laid out industry analysis. It is important to convince potential investors you know the companies you will be competing with, as well as your plans to gain an edge on the competition. Marketing Strategy Your business plan should also include your marketing strategy. This is how you intend to spread awareness of your product. It should include a detailed explanation of the company brand as well as your advertising methods. Sales Strategy Your sales strategy comes after the market strategy. Here you give an overview of your company's pricing strategy and how you aim to maximize profits. You can also explain how your prices will adapt to market behaviors. Financial Projection The financial projection is the next component of your business plan. It explains your company's expected running cost and revenue earned during the tenure of the business plan. Financial projection gives a clear idea of how your company will develop in the future. Funding The next component of your business plan is funding. You have to detail how much external investment you need to get your business idea off the ground here. Appendix The last component of your plan is the appendix. This is where you put licenses, graphs, or key information that does not fit in any of the other components.

The business model canvas is a business management tool used to quickly define your business idea and model. It is often used when investors need you to pitch your business idea during a brief window.

A pitch deck is similar to a business model canvas except that it makes use of slides in its presentation. A pitch is not primarily used to secure funding, rather its main purpose is to entice potential investors by selling a very optimistic outlook on the business.

Business plan competitions help you evaluate the strength of your business plan. By participating in business plan competitions, you are improving your experience. The experience provides you with a degree of validation while practicing important skills. The main motivation for entering into the competitions is often to secure funding by finishing in podium positions. There is also the chance that you may catch the eye of a casual observer outside of the competition. These competitions also provide good networking opportunities. You could meet mentors who will take a keen interest in guiding you in your business journey. You also have the opportunity to meet other entrepreneurs whose ideas can complement yours.

Exlore Further

• 12 Key Elements of a Business Plan (Top Components Explained)
• 13 Sources of Business Finance For Companies & Sole Traders
• 5 Common Types of Business Structures (+ Pros & Cons)
• How to Buy a Business in 8 Steps (+ Due Diligence Checklist)

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

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How to Start a Profitable Art Business [11 Steps]

By Nick Cotter Updated Feb 05, 2024

Business Steps:

1. perform market analysis., 2. draft a art business plan., 3. develop a art brand., 4. formalize your business registration., 5. acquire necessary licenses and permits for art., 6. open a business bank account and secure funding as needed., 7. set pricing for art services., 8. acquire art equipment and supplies., 9. obtain business insurance for art, if required., 10. begin marketing your art services., 11. expand your art business..

Starting an art business requires a thorough understanding of the market to identify potential customers, competitors, and trends. A well-conducted market analysis can provide invaluable insights that will help in tailoring your business strategy to meet the demands of the art industry. Here are some steps to guide you through the process:

• Research your target audience: Understand who is likely to purchase your art, including their demographics, interests, and buying habits.
• Analyze your competition: Look at other art businesses, noting what they offer, their pricing, and how they market themselves.
• Identify market trends: Stay up-to-date with the latest trends in the art world, such as popular styles, emerging artists, and shifts in consumer preferences.
• Evaluate pricing strategies: Consider how art is priced in the market and how you can competitively position your artwork.
• Assess market size and potential growth: Estimate the size of the market for your art and the potential for growth in the niche you are targeting.
• Explore sales channels: Investigate various platforms and venues where art is sold, such as online marketplaces, galleries, art fairs, and social media.

Are Art businesses profitable?

Yes, art businesses can be profitable depending on the type of business, the demand for the artwork, and the overall business model and strategy. Profitability depends on factors such as the cost of labor, materials, and overhead expenses, as well as the marketing and sales strategies used to promote the artwork.

Creating a well-structured art business plan is essential for setting clear goals and mapping out the path to success. It serves as a comprehensive guide for your artistic venture, detailing the roadmap from concept to market. Here's a concise guide to help you draft an effective art business plan:

• Define your art business mission and vision, outlining what you aim to achieve and why it matters.
• Identify your target market, including demographics, preferences, and purchasing behavior.
• Analyze the competition to understand their strengths and weaknesses and find your unique selling proposition (USP).
• Detail your art portfolio, including styles, mediums, and themes that you will offer.
• Outline your marketing and sales strategies, how you plan to promote your art, and the channels you will use to reach your audience.
• Develop a financial plan, including startup costs, pricing strategy, sales forecast, and break-even analysis.
• Set clear objectives and milestones to measure your progress and adjust your strategies accordingly.
• Discuss the operational plan, including the production process, suppliers, studio space, and equipment needs.

How does a Art business make money?

An art business typically makes money by selling the artwork, either through exhibitions, art galleries, online stores, or directly to customers. Depending on the type of art business, it may also make money through commissions, classes, workshops, private tutoring, or licensing their artwork for use on other products.

Developing an art brand is crucial for distinguishing yourself in a crowded marketplace and connecting with your target audience. It's about creating a unique image and consistent message that resonates with your customers. Here are some key points to consider when building your art brand:

• Identify your unique selling proposition (USP) that sets your art apart from others. This could be your technique, subject matter, or personal story.
• Create a memorable brand name and logo that reflects your art style and personality, ensuring it's recognizable across all platforms.
• Establish a consistent visual and verbal brand message across your website, social media profiles, business cards, and packaging.
• Understand your target audience and tailor your branding to speak directly to their preferences, interests, and needs.
• Use a consistent color palette and typography in your branding materials that align with the emotions and aesthetics of your art.
• Regularly share your creative process, inspirations, and the stories behind your artwork to build a personal connection with your audience.
• Protect your brand's integrity by trademarking your brand name and logo, ensuring your intellectual property is legally safeguarded.

How to come up with a name for your Art business?

Coming up with a name for your Art business can be a daunting task. It is important to consider a name that reflects the style of art you are creating, as well as something that is memorable, unique and descriptive. Brainstorming with friends and family can be a great way to generate ideas. Additionally, using online tools, such as a thesaurus or a name generator, can help you to find the perfect name for your Art business.

Once you've crafted your business plan and decided on the structure of your art business, the next crucial step is to formalize your business registration. This will legitimize your business, protect your personal assets, and help you to operate within the legal framework. Here’s how to get started:

• Choose a business name: Select a unique and meaningful business name that complies with your state's naming rules.
• Determine the legal structure: Decide whether your art business will be a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has different legal and tax implications.
• Register with the state: File the necessary paperwork with your state's Secretary of State office or business agency. This typically involves submitting your business name, structure, and other details.
• Obtain an Employer Identification Number (EIN): If needed, apply for an EIN from the IRS for tax purposes, especially if you plan to hire employees.
• Register for state and local taxes: Depending on your location and business structure, you may need to register for state taxes, sales taxes, and obtain any necessary permits or licenses.
• Understand your responsibilities: Stay informed about ongoing compliance requirements, such as annual reports and renewals, to keep your business in good standing.

Resources to help get you started:

Explore crucial resources designed specifically for art entrepreneurs, featuring industry insights, operational strategies, and growth advice:

• Art Business News: A publication offering updates on market trends, artist profiles, and business strategies for art entrepreneurs. https://artbusinessnews.com/
• The Art Newspaper: Provides comprehensive news, reviews, and analysis on the art world, useful for keeping up with global market trends. https://www.theartnewspaper.com/
• Artsy: Besides showcasing art, Artsy offers articles and resources on the business side of art, including tips on marketing and online sales. https://www.artsy.net/
• Art Market Monitor: Features analyses of market trends and forecasts, beneficial for strategic planning. https://www.artmarketmonitor.com/
• Creative Boom: Focuses on the creative side but includes valuable resources for entrepreneurs on marketing, business development, and more. https://www.creativeboom.com/
• The Abundant Artist: Offers courses, coaching, and content aimed at helping artists earn from their work and grow their businesses. https://theabundantartist.com/

Before you can officially start your art business, it's crucial to ensure you have all the necessary licenses and permits. This step is key to operating legally and avoiding any potential fines or business disruptions. Here's a guide to help you navigate the process:

• Research local regulations: Check with your city or county government to understand the specific licenses and permits required for an art business in your area.
• Business License: Apply for a general business license, which is the primary permit that allows you to operate a business in your city or county.
• Sales Tax Permit: If you plan to sell your artwork, you may need a sales tax permit to collect sales tax from customers.
• Home Occupation Permit: If you're operating your business from home, this permit ensures that your business activities comply with local zoning laws.
• Professional Licenses: Depending on the scope of your art services, you might need specific professional licenses (e.g., if you offer art classes).
• Special Event Permits: If you attend art shows or fairs, you might need temporary permits for each event.
• EIN Registration: Although not a permit, obtaining an Employer Identification Number (EIN) from the IRS is essential if you plan to hire employees.

What licenses and permits are needed to run a art business?

The specific licenses and permits required to run an art business will vary based on the location and type of business. Generally, businesses are required to have a business license, sales tax permit, and any other permits or licenses required by the state. Depending on the type of art business and services offered, artists may need additional licensing, such as special permits to sell their work in public spaces or to hang artwork in museums. Additionally, some local municipalities may require additional permits for businesses operating within their city limits.

Once you've laid the groundwork for your art business, it's crucial to establish a solid financial foundation. Opening a business bank account separates your personal and business finances, providing clarity and professionalism. Securing funding, if needed, can help you cover startup costs and keep your business running smoothly. Here are some key steps to consider:

• Shop around for a business bank account that suits your needs. Consider fees, services, and convenience, and look for accounts tailored to small businesses.
• Gather required documents such as your business license, EIN (Employer Identification Number), and personal identification to open your account.
• Explore different funding options like small business loans, grants, crowdfunding, or angel investors, depending on the scale and needs of your art business.
• Prepare a compelling business plan to present to potential lenders or investors, showcasing the potential profitability and growth trajectory of your art business.
• Consider a business credit card to manage expenses and possibly earn rewards on purchases.
• Keep track of all financial transactions and set aside money for taxes to avoid surprises at the end of the fiscal year.

Setting the right price for your art services is crucial as it affects how customers perceive the value of your work and determines your business's profitability. As you embark on this step, consider the cost of materials, time, your skill level, and market rates to establish fair and competitive prices. Below are key points to guide you in this process:

• Cost of Materials: Calculate the total cost of materials used to produce each piece and ensure this is covered in your pricing.
• Time Investment: Consider the amount of time spent on each piece and set a reasonable hourly wage for yourself. Multiply this by the hours worked to get a labor cost to include in your pricing.
• Experience and Expertise: Factor in your level of experience and expertise. As you gain recognition and your skills improve, you can justify higher prices.
• Market Analysis: Research what others in the market are charging for similar services. This will help you determine a competitive yet fair price point.
• Profit Margin: Decide on a profit margin that allows for sustainable business growth while remaining attractive to customers.
• Flexibility: Be prepared to adjust prices as you receive feedback and as the market evolves. Flexibility is key to staying competitive and profitable.

What does it cost to start a Art business?

Initiating a art business can involve substantial financial commitment, the scale of which is significantly influenced by factors such as geographical location, market dynamics, and operational expenses, among others. Nonetheless, our extensive research and hands-on experience have revealed an estimated starting cost of approximately $10500 for launching such a artbusiness. Please note, not all of these costs may be necessary to start up your art business.

Starting an art business requires not just talent and vision, but also the right tools and materials to bring your creations to life. Acquiring quality art equipment and supplies is essential to ensure you can produce work that meets your standards and satisfies your clients. Below are some key points to consider when equipping your art studio:

• Identify Your Medium: Purchase supplies specific to your primary art medium, whether it's oil paints, acrylics, watercolors, charcoal, or digital art software.
• Quality Over Quantity: Invest in high-quality core items that will last longer and provide a better finish, rather than stocking up on cheaper, lower-grade supplies.
• Research Suppliers: Compare prices and reviews of different suppliers to find the best deals on art materials without compromising on quality.
• Essential Tools: Ensure you have all the necessary tools for your art form, such as brushes, canvases, easels, palettes, or graphic tablets.
• Bulk Purchases: Consider buying non-perishable items in bulk to save money in the long run, especially if you use them frequently.
• Eco-Friendly Options: Explore sustainable and eco-friendly art supplies to appeal to environmentally conscious consumers.
• Inventory Management: Keep an inventory of your supplies to track usage and know when to reorder before you run out.

List of Software, Tools and Supplies Needed to Start a Art Business:

• Design Software: Adobe Photoshop, Adobe Illustrator, CorelDraw, Gimp
• Printing Tools: Printer, Ink, Paper
• Marketing Tools: Website, Social Media, Email Newsletter
• Business Tools: Accounting Software, Project Management Software
• Supplies: Art Supplies, Canvas, Brushes, Paint

Securing business insurance is a critical step in protecting your art business from potential risks and liabilities. Whether you're a gallery owner, an independent artist, or running an online art shop, the right insurance can safeguard your investment and provide peace of mind. Here's how to go about obtaining the appropriate coverage:

• Research different types of insurance policies, such as general liability, professional liability, property insurance, and product liability, to determine which ones are pertinent to your art business.
• Consult with insurance agents or brokers who specialize in art or small business insurance to get tailored advice and competitive quotes.
• Evaluate the value of your art inventory, supplies, and equipment to ensure your coverage limits reflect the true value of your assets.
• Consider additional coverages like business interruption insurance or insurance for goods in transit if you frequently ship artwork or attend art fairs.
• Read policy details carefully, including deductibles and exclusions, to fully understand the scope of protection offered.
• Keep your insurance documents accessible and review your policy annually to adjust coverage as your art business grows and changes.

Once you've honed your art skills and prepared a portfolio, it's time to attract clients who will appreciate and pay for your services. Marketing is a critical step in turning your passion into a profitable venture. Here are some strategies to help you begin marketing your art services:

• Develop an Online Presence: Create a professional website and utilize social media platforms to showcase your work and connect with potential clients.
• Join Art Communities: Participate in online forums, local art associations, and attend networking events to meet other artists and art lovers.
• Offer Promotions: Attract initial customers with introductory offers, discounts, or bundled packages.
• Collaborate with Other Businesses: Partner with local businesses, cafes, or galleries to display your work and reach new audiences.
• Get Testimonials: Encourage satisfied clients to provide testimonials that you can use in your marketing materials to build credibility.
• Utilize Online Marketplaces: Sell your art on platforms like Etsy, Fine Art America, or Saatchi Art to gain exposure and sales.
• Attend Art Fairs and Exhibitions: Showcase your art in person to build relationships with collectors and enthusiasts.

Reaching step 11 in expanding your art business is a pivotal moment that opens up numerous opportunities for growth and increased visibility. As you prepare to take your art business to the next level, consider various strategies that can help you reach a wider audience, increase your sales, and build a sustainable business model. Here are some essential tips to guide you in the process:

• Diversify Your Product Line: Offer a range of products such as prints, originals, commissions, and merchandise to cater to different customer preferences and price points.
• Collaborate with Other Artists: Partner with fellow artists or brands to create unique collaborative works, expanding your network and audience.
• Utilize Online Platforms: Take advantage of online marketplaces, social media, and your own website to showcase and sell your art globally.
• Attend Art Fairs and Exhibitions: Participate in art events to gain exposure, network with industry professionals, and sell your work directly to art enthusiasts.
• Explore Licensing Opportunities: License your artwork for use on products, which can provide a steady income stream and introduce your work to new audiences.
• Invest in Marketing: Develop a marketing strategy to promote your brand, including SEO, content marketing, and paid advertising.
• Seek Feedback and Adapt: Regularly gather customer feedback and be open to evolving your business strategies based on market trends and consumer preferences.

Artist Business Plan Template

Written by Dave Lavinsky

Artist Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their artist businesses. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write an artist business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an Artist Business Plan?

A business plan provides a snapshot of your artist business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for an Art Business

If you’re looking to start an artist business or grow your existing artist company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your artist business to improve your chances of success. Your artist business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Artist Businesses

With regards to funding, the main sources of funding for an artist business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for artist companies.

Finish Your Business Plan Today!

How to write a business plan for an artist business.

If you want to start an artist business or expand your current one, you need a business plan in the proper business plan format . The guide below details the necessary information for how to write each essential component of your artist business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of artist business you are running and the status. For example, are you a startup, do you have an artist business that you would like to grow, or are you operating a chain of artist businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the artist industry.
• Discuss the type of artist business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of artist business you are operating.

For example, you might specialize in one of the following types of artist businesses:

• Antiques: This type of artist business may include the restoration, curation, and auction of antique furniture and other items.
• Art Consultant: This type of artist business involves helping clients find and select art pieces for their own collections.
• Tattoo Artist: Tattoos are a popular way for artists to earn money by tattooing permanent ink art onto their customers.
• Photography: Photographers may specialize in certain categories like wedding photography or nature photography.
• Graphic design: This type of business encompasses all kinds of design from creating logos and marketing materials for businesses to creating websites and designing products.
• Art teacher: This type of artist business involves art instruction and can include anything from teaching an elementary school art class to a recreational painting class, or an online art course.

In addition to explaining the type of artist business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of clients served, the number of art pieces sold, reaching $X amount in revenue, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the artist industry.

While this may seem unnecessary, it serves multiple purposes. First, researching the artist industry educates you. It helps you understand the market in which you are operating. Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends. The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your artist business plan:

• How big is the artist industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your artist business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your artist business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of artist business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other art businesses. Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This may include other sources of art pieces, auctions, or resellers. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of artist business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you make it easier for your customers to engage with your product or service?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a artist business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of artist company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you sell paintings or sculptures, consult on various art pieces, instruct a painting class, etc?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your artist company. Document where your company is situated and mention how the site will impact your success. For example, is your artist business located in a busy retail district, a business district, a standalone office, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your artist marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your artist business, including answering calls, meeting with clients, billing and collecting payments, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth client, or when you hope to reach $X in revenue. It could also be when you expect to expand your artist business to a new city.  

Management Team

To demonstrate your artist business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing artist businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing an artist business or successfully running a small curation business.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you meet with 5 clients per day, and will you charge by the hour for art consultation services? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your artist business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a artist business:

• Cost of equipment and office supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a sample of your artist portfolio.  

Writing a business plan for your artist business is a worthwhile endeavor. If you follow the sample template above, by the time you are done, you will have an expert artist business plan; download it to PDF to show banks and investors. You will understand the artist industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful artist business.  

Artist Business Plan Template FAQs

What is the easiest way to complete my artist business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your artist business plan.

How Do You Start an Artist Business?

Starting an artist business is easy with these 14 steps:

• Choose the Name for Your Artist Business
• Create Your Artist Business Plan
• Choose the Legal Structure for Your Artist Business
• Secure Startup Funding for Your Artist Business (If Needed)
• Secure a Location for Your Business
• Register Your Artist Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Artist Business
• Buy or Lease the Right Artist Business Equipment
• Develop Your Artist Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Artist Business
• Open for Business

Don’t you wish there was a faster, easier way to finish your Artist business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s business planning advisors can create your business plan for you.

Other Helpful Business Plan Articles & Templates

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L'Art du Business Plan : Guide Pratique pour Nouveaux Entrepreneurs

Business Plan : Construire le Radeau vers le Succès Entrepreneurial

Imaginez-vous au bord d'une rivière tumultueuse que vous devez traverser pour atteindre la terre de l'entrepreneuriat, une terre prometteuse d'opportunités et de réussites. À vos pieds, un assortiment de planches, de cordes et d'outils - les composants de votre radeau. Ce radeau, c'est votre business plan , l'outil indispensable pour naviguer avec succès dans les eaux parfois imprévisibles du monde des affaires.

Pour un entrepreneur débutant , le voyage vers le succès peut sembler intimidant, parsemé de questions et d'incertitudes. Comment transformer une idée brillante en une entreprise florissante ? Comment convaincre les investisseurs de croire en votre vision ? La réponse à ces questions et à bien d'autres réside dans la création d'un business plan solide et bien structuré .

Dans cet article, nous allons vous guider à travers les étapes essentielles de la rédaction d'un business plan efficace. Nous vous fournirons un plan détaillé, enrichi de conseils pratiques et d'astuces stratégiques, pour vous aider à élaborer un document qui non seulement cartographie votre parcours entrepreneurial, mais vous équipe également pour faire face aux défis et saisir les opportunités qui se présenteront.

Que vous soyez au stade de l'idéation ou prêt à lancer votre entreprise, ce guide est conçu pour transformer l'art complexe de la rédaction d'un business plan en un processus plus clair et plus accessible . Ainsi, munis de ce précieux sésame, vous pourrez aborder avec confiance et détermination le voyage vers la réalisation de vos ambitions entrepreneuriales.

Qu'est-ce qu'un Business Plan ?

Un business plan est un document écrit qui décrit en détail la stratégie, les objectifs, et les plans d'action d'une entreprise pour atteindre ces objectifs. Il sert de carte routière pour l'entreprise, indiquant non seulement la destination souhaitée mais aussi les moyens pour y parvenir. En substance, il répond à trois questions clés : Où voulez-vous aller ? Comment comptez-vous y arriver ? Quels sont les ressources et les étapes nécessaires pour y parvenir ?

Objectifs d'un Business Plan

Les objectifs d'un business plan sont multiples et variés, mais ils peuvent être regroupés en quelques points essentiels :

• Définition de la Vision et des Objectifs : Le plan sert à établir clairement la vision de l'entreprise et les objectifs à court et à long terme. Cela comprend la définition du marché cible, des produits ou services offerts, et des stratégies de croissance.
• Planification et Organisation : Il aide à organiser les opérations commerciales, de la gestion des ressources à la planification financière, en passant par le marketing et la vente.
• Sécurisation des Financements : Pour les startups cherchant des investissements, un business plan est indispensable. Selon une étude de la Harvard Business Review, les entrepreneurs qui écrivent des business plans formels sont 16% plus susceptibles de réussir que ceux qui ne le font pas.
• Gestion des Risques : Il permet d'identifier les risques potentiels et de développer des stratégies pour les atténuer.
• Outil de Communication : Un business plan est un outil essentiel pour communiquer la stratégie de l'entreprise à ses parties prenantes, y compris les employés, les investisseurs, et les partenaires.

Importance du Business Plan dans la Réussite Entrepreneuriale

La rédaction d'un business plan est souvent perçue comme un processus ardu, mais son importance dans la réussite entrepreneuriale est indéniable . Il fournit une fondation solide sur laquelle une entreprise peut se construire et grandir. Un business plan bien élaboré et exécuté peut être le facteur déterminant entre le succès et l'échec d'une entreprise.

En somme, le business plan est plus qu'un simple document ; c'est un guide stratégique qui oriente les entrepreneurs à travers les différentes phases de leur aventure commerciale. Il s'agit d'une boussole qui aide à naviguer dans le monde complexe et en constante évolution de l'entrepreneuriat.

Dans la section suivante, nous explorerons comment comprendre et analyser votre marché et votre public cible, des étapes cruciales pour élaborer un business plan qui résonne avec les besoins et les attentes de votre marché.

LES SECRETS D'UN BUSINESS PLAN GAGNANT : ÉVITEZ CES PIÈGES

Comprendre votre Marché et votre Public Cible

Imaginons un instant l'histoire de "Bella Cuisine", une jeune entreprise spécialisée dans les ustensiles de cuisine innovants. Lors de sa création, l'équipe de Bella Cuisine pensait connaître son marché. Ils ciblaient tous les passionnés de cuisine. Cependant, après avoir lancé leur première gamme de produits, ils se sont retrouvés confrontés à des ventes décevantes. Qu'est-ce qui n'allait pas ?

C'est là que l'analyse de marché est entrée en jeu. En se plongeant dans une étude approfondie de leur marché (grâce à des outils comme l'analyse PESTEL ou la Matrice SWOT ), Bella Cuisine a réalisé que leur public cible n'était pas simplement les passionnés de cuisine, mais plutôt les cuisiniers à domicile recherchant des solutions rapides et faciles pour des repas sains. Cette prise de conscience a été un tournant.

Analyse de marché : Comment identifier et comprendre votre marché cible

• Identification du Marché Cible : Tout comme Bella Cuisine, commencez par définir précisément qui sont vos clients potentiels. Ne vous contentez pas de généralités; cherchez à comprendre leurs besoins, désirs et comportements spécifiques.
• Analyse des Besoins du Marché : Bella Cuisine a ajusté son offre en fonction des besoins spécifiques de son nouveau public cible, se concentrant sur des ustensiles multifonctionnels et faciles à utiliser.
• Étude de la Concurrence : L'entreprise a également analysé ce que proposaient ses concurrents, ce qui lui a permis de positionner ses produits de manière unique, en mettant l'accent sur la simplicité et la santé.
• Tendances du Marché : En suivant les tendances actuelles en matière de cuisine saine et rapide, Bella Cuisine a pu aligner ses produits avec les attentes du marché.

LES OUTILS DU BUSINESS PLAN : LA MATRICE SWOT

LES OUTILS DU BUSINESS PLAN : L'ANALYSE PESTEL

Conseils pour définir et comprendre votre public cible

• Créer des Personas de Clients : Développez des profils détaillés pour représenter les segments de votre public cible.
• Enquêtes et Feedbacks : Utilisez ces outils pour recueillir des données directes, comme l'a fait Bella Cuisine pour affiner son approche.
• Analyser les Données : Des outils d'analyse de données peuvent révéler des insights précieux.
• Tester et Apprendre : N'hésitez pas à expérimenter avec des prototypes ou des offres minimales viables pour tester vos hypothèses.

L'expérience de Bella Cuisine souligne l'importance de comprendre en profondeur votre marché et votre public cible. Ce n'est qu'en ayant une vision claire de ces éléments que vous pourrez construire des stratégies ciblées et efficaces, augmentant vos chances de succès.

Dans la section suivante, nous allons examiner comment développer votre proposition de valeur, un élément clé pour vous démarquer sur le marché, tout comme Bella Cuisine a su le faire en réajustant son focus.

Business Plan : Les 4 Questions pour Cibler Votre Marché

Business Model : Comment Définir Ses Segments Clients

B usiness Plan : Comprendre l'Analyse PESTEL

Élaboration de votre Proposition de Valeur

Prenons l'exemple inspirant de GreenTech, une startup spécialisée dans les solutions d'énergie renouvelable. Au début, GreenTech faisait face à une concurrence féroce dans un marché saturé. Cependant, ce qui a vraiment différencié GreenTech, c'était sa proposition de valeur unique : non seulement fournir des solutions d'énergie renouvelable, mais aussi rendre ces technologies accessibles et abordables pour les petites communautés rurales. Cette approche ciblée a non seulement résonné avec un segment de marché spécifique mais a également attiré l'attention des investisseurs qui cherchaient à soutenir des initiatives durables avec un impact social fort.

Définir ce qui rend votre produit/service unique

• Identification des Caractéristiques Uniques : Tout comme GreenTech, identifiez ce qui distingue votre offre. Cherchez à offrir quelque chose qui n'est pas seulement différent, mais qui répond aussi à un besoin spécifique de votre marché.
• Comprendre les Besoins des Clients : La proposition de valeur de GreenTech était alignée avec les besoins spécifiques de ses clients - un aspect souvent négligé par ses concurrents plus importants.
• Benchmarking contre la Concurrence : Évaluez comment vous pouvez vous différencier des autres. GreenTech a utilisé cette stratégie pour se positionner comme un innovateur dans un espace concurrentiel.

Comment articuler votre proposition de valeur dans votre business plan

• Déclaration Claire et Concise : Votre proposition de valeur, comme celle de GreenTech, doit être succincte et mémorable. Assurez-vous qu'elle communique clairement l'essence de ce que vous offrez.
• Intégration dans la Stratégie Globale : Assurez-vous que votre proposition de valeur est cohérente avec votre vision globale et reflétée dans toutes les sections de votre business plan.
• Preuves et Justifications : S'appuyer sur des données et des témoignages, comme l'a fait GreenTech, peut renforcer la crédibilité de votre proposition.
• Plan de Communication : Déterminez comment vous partagerez votre proposition de valeur unique avec votre marché cible. Quels canaux et stratégies utiliserez-vous pour engager votre public ?

En prenant exemple sur GreenTech, vous pouvez voir comment une proposition de valeur bien définie et ciblée peut transformer une entreprise de plus sur le marché en un leader de l'innovation. C'est cette clarté et cette pertinence qui peuvent faire toute la différence pour attirer à la fois les clients et les investisseurs. Avec votre proposition de valeur clairement établie, nous passerons ensuite à la structuration de votre business plan, s'assurant qu'il communique efficacement votre vision unique et captivante.

Comment Créer une Offre Irrésistible pour un Business Plan Réussi!

LES OUTILS DU BUSINESS PLAN : LE CANVA DE PROPOSITION DE VALEUR

LES OUTILS DU BUSINESS PLAN : LE BUSINESS MODEL CANVA

Structurer votre Business Plan

Un business plan structuré et bien organisé est essentiel pour présenter clairement votre vision et stratégie d'entreprise. Voici les sections essentielles à inclure, avec des conseils spécifiques pour les entrepreneurs débutants.

• Résumé Exécutif

Description : Le résumé exécutif donne un aperçu de votre entreprise et de votre plan. Il doit capturer l'essence de votre projet et susciter l'intérêt du lecteur.

Conseils : Soyez concis mais persuasif. Mettez en avant les points forts de votre projet et la raison pour laquelle votre entreprise est unique.

• Description de l'Entreprise

Description : Cette section détaille la nature de votre entreprise, sa mission, sa vision, son histoire, et sa structure juridique (si vous voulez plus de détails sur comment choisir le meilleur statut juridique pour votre entreprise, vous pouvez lire notre article : Comment choisir le statut juridique idéal pour votre entreprise : le guide ultime .

Conseils : Clarifiez votre mission et expliquez comment votre entreprise se distingue. Incluez votre vision à long terme.

• Analyse de Marché

Description : Analysez votre secteur d'activité, le marché cible, la concurrence, et les tendances du marché.

Conseils : Utilisez des données de marché pour appuyer votre analyse. Montrez que vous comprenez les défis et opportunités de votre marché.

• Organisation et Gestion

Description : Présentez la structure organisationnelle de votre entreprise, y compris les informations sur l'équipe de direction.

Conseils : Mettez en valeur les compétences et l'expérience de votre équipe. Expliquez comment cette structure supporte vos objectifs d'affaires.

• Ligne de Produits ou Services

Description : Détaillez vos produits ou services, y compris leur développement, leur production, et leur cycle de vie.

Conseils : Mettez l'accent sur la valeur ajoutée de vos produits/services pour le client. Soyez clair sur les avantages et les caractéristiques.

• Marketing et Ventes

Description : Décrivez votre stratégie de marketing et de vente, y compris comment vous prévoyez d'attirer et de retenir les clients.

Conseils : Soyez spécifique sur vos canaux de marketing, votre positionnement de marque, et vos stratégies de tarification. Expliquez comment ces stratégies alignent avec les besoins et comportements de votre marché cible.

• Demande de Financement

Description : Si vous cherchez des financements, détaillez le montant nécessaire, l'utilisation prévue des fonds, et le type de financement recherché.

Conseils : Soyez réaliste dans vos estimations de financement. Préparez un argumentaire solide sur la manière dont ces fonds contribueront à la croissance de l'entreprise.

• Projections Financières

Description : Fournissez des prévisions financières détaillées, y compris les états de résultat prévisionnels, les bilans, et les analyses de flux de trésorerie.

Conseils : Basez vos projections sur des hypothèses réalistes et justifiées. Incluez des scénarios optimistes, pessimistes, et réalistes.

Description : L'annexe contient des documents de support, tels que des CV, des études de marché détaillées, des références juridiques, des licences, des contrats, ou des illustrations de produit.

Conseils : Incluez seulement les informations qui renforcent ou clarifient les points faits dans le corps principal du plan. Assurez-vous que tout est bien organisé et facile à parcourir.

Chaque section de votre business plan doit être rédigée avec soin et précision. Gardez à l'esprit que votre plan d'affaires n'est pas seulement un document pour les investisseurs, mais aussi un guide pour vous aider à naviguer dans les premières étapes de votre entreprise. Une structure claire et détaillée vous aidera à rester focalisé sur vos objectifs et stratégies.

La prochaine étape de notre guide abordera la planification financière et les projections, une partie cruciale de votre business plan qui démontre la viabilité financière de votre entreprise.

Planification Financière et Projections

Imaginons le scénario de "Café Aventure", une jeune entreprise passionnée par l'artisanat du café. Au début, l'équipe était enthousiaste mais a rapidement rencontré des défis financiers. Les coûts imprévus d'équipement et des ventes plus lentes que prévu ont mis l'entreprise sous pression. C'est à ce moment-là que la planification financière minutieuse est devenue leur bouée de sauvetage.

Importance des Prévisions Financières

• Budget : Café Aventure a développé un budget détaillé, prévoyant des revenus et des dépenses. Ce budget a servi de guide essentiel pour gérer leurs finances et anticiper les besoins en capitaux, surtout dans les moments difficiles.
• Prévisions de Ventes : L'entreprise a ajusté ses prévisions de ventes en se basant sur des données de marché réalistes, ce qui leur a permis de se préparer à des périodes de ventes plus lentes.
• Flux de Trésorerie : Des prévisions de flux de trésorerie précises ont aidé Café Aventure à planifier quand et comment l'argent circulerait dans l'entreprise, garantissant qu'ils avaient suffisamment de fonds pour couvrir les dépenses opérationnelles.

Conseils pour Réaliser des Projections Financières Réalistes

• Basez-vous sur des Données Fiables : Tout comme Café Aventure, basez vos projections sur des données de marché réalistes. Évitez l'optimisme excessif qui peut mener à des prévisions irréalistes.
• Prévoyez Différents Scénarios : Préparez-vous pour le meilleur, le moyen et le pire des cas. Café Aventure a appris que la flexibilité dans la planification est cruciale pour la survie de l'entreprise.
• Inclure des Détails et des Justifications : Justifiez chaque chiffre dans votre plan financier. Expliquez comment vous avez atteint ces chiffres pour donner de la crédibilité à vos prévisions.
• Mise à Jour Régulière : Comme le marché change, vos projections doivent également évoluer. Café Aventure a révisé régulièrement ses projections pour s'adapter aux nouvelles réalités du marché.
• Utilisez des Outils et des Logiciels : Utiliser des outils comme Excel ou des logiciels de planification financière peut aider à créer des projections plus précises.

La situation de Café Aventure souligne l'importance d'une planification financière solide. Avec des projections financières réalistes et bien planifiées, votre entreprise peut non seulement attirer des investisseurs, mais aussi naviguer efficacement dans le quotidien et les défis à long terme. Nous allons maintenant nous plonger dans les stratégies de marketing et de vente, des éléments vitaux pour le succès de votre produit ou service sur le marché, tout en tirant des leçons du parcours de Café Aventure.

Pour plus d'information sur les éléments financiers à retrouver dans le Business Plan, lisez notre article dédié : Les éléments financiers du Business Plan : parlons chiffres !

Exemple de Graphique : "Flux de Trésorerie Prévisionnel"

Exemple de Graphique : "Compte de Résultat Prévisionnel"

Stratégies de Marketing et de Vente

Imagino l'exemple d'EcoWear, une start-up dans le domaine de la mode durable, qui illustre parfaitement l'importance d'une stratégie de marketing et de vente bien conçue. À ses débuts, EcoWear a dû faire face à un marché saturé et à des consommateurs peu conscients de l'impact environnemental de la mode. Cependant, grâce à des stratégies de marketing ciblées et innovantes, EcoWear a réussi à se démarquer et à établir une présence solide sur le marché.

Développer une Stratégie de Marketing et de Vente Efficace

• Comprendre votre Marché Cible : EcoWear a commencé par une analyse approfondie de son marché cible - les consommateurs soucieux de l'environnement et de la mode durable. Ils ont étudié les besoins, désirs et comportements d'achat de ce groupe spécifique pour façonner leur stratégie.
• Positionnement de la Marque : La marque s'est positionnée non seulement comme une ligne de vêtements, mais aussi comme un mouvement vers une mode plus responsable. Ce positionnement a renforcé leur proposition de valeur et établi une connexion émotionnelle avec leur public.
• Canaux de Marketing : EcoWear a opté pour une combinaison de marketing en ligne, se concentrant sur les médias sociaux et le marketing de contenu, ainsi que sur des collaborations avec des influenceurs écoresponsables. Ils ont également organisé des événements de sensibilisation à l'environnement pour renforcer leur présence sur le marché.
• Stratégies de Vente : Leur stratégie de vente comprenait une boutique en ligne conviviale, des partenariats avec des boutiques écoresponsables et des offres spéciales pour les premiers acheteurs.
• Mesure et Analyse : EcoWear a mis en place des outils pour mesurer l'efficacité de ses campagnes, ce qui leur a permis d'ajuster rapidement leurs stratégies en fonction des retours du marché.

Alignement des Stratégies de Marketing et de Vente avec les Objectifs Globaux

• Cohérence avec la Vision de l'Entreprise : Les stratégies de marketing et de vente d'EcoWear sont en parfaite harmonie avec leur mission de promouvoir la mode durable.
• Objectifs Réalisables : Ils ont fixé des objectifs réalistes, en ligne avec leurs ressources et capacités.
• Intégration avec d'Autres Fonctions de l'Entreprise : Leur marketing était étroitement lié au développement de produits et au service client pour assurer une expérience cohérente.
• Adaptabilité : EcoWear a constamment adapté ses stratégies en fonction des tendances du marché et des feedbacks clients.

L'exemple d'EcoWear démontre l'impact d'une stratégie de marketing et de vente bien conçue et exécutée. En suivant leur exemple, vous pouvez créer une base solide pour attirer et fidéliser les clients. Ensuite, nous explorerons comment l'analyse de la concurrence peut aider à positionner votre entreprise de manière compétitive sur le marché.

Analyse de la Concurrence

L'analyse de la concurrence est un aspect fondamental de la planification stratégique. Elle vous permet de comprendre le paysage concurrentiel dans lequel votre entreprise évolue et de définir comment vous pouvez vous démarquer.

Méthodes pour Identifier et Analyser les Concurrents

• Identification des Concurrents : Commencez par dresser une liste de vos concurrents directs et indirects. Les concurrents directs offrent des produits ou services similaires, tandis que les indirects répondent aux mêmes besoins des clients mais de manière différente.
• Analyse des Produits/Services des Concurrents : Évaluez les offres de vos concurrents. Quels sont leurs points forts et faibles ? Comment leurs produits ou services sont-ils perçus par le marché ?
• Étude des Stratégies de Marketing et de Vente : Observez comment vos concurrents commercialisent et vendent leurs produits. Quels canaux utilisent-ils ? Quelle est leur approche en termes de tarification et de promotion ?
• Analyse des Performances : Examinez les performances de vos concurrents, en termes de part de marché, de croissance, de stabilité financière, et de réputation.
• Collecte d'Informations : Utilisez diverses sources pour collecter des informations, telles que les sites web des concurrents, les rapports d'analystes, les avis des clients, et les études de marché.

Utiliser ces Informations pour Affiner votre Stratégie d'Entreprise

• Trouver un Avantage Concurrentiel : Utilisez votre analyse pour identifier les domaines où vous pouvez offrir quelque chose de mieux ou de différent. Cela pourrait être un produit de qualité supérieure, un service client exceptionnel, ou une technologie innovante.
• Éviter les Erreurs des Concurrents : Apprenez des erreurs ou des échecs de vos concurrents pour éviter de les répéter.
• Anticiper les Mouvements des Concurrents : Soyez attentif aux tendances et aux changements dans les stratégies de vos concurrents. Cela peut vous aider à anticiper les évolutions du marché et à y réagir rapidement.
• Positionnement Stratégique : Positionnez votre entreprise de manière à exploiter les faiblesses de vos concurrents tout en maximisant vos propres forces.
• Innovation et Adaptation : Soyez prêt à innover et à vous adapter en fonction de l'évolution du paysage concurrentiel. Restez flexible et ouvert aux changements.

En comprenant bien vos concurrents et en utilisant ces informations pour affiner votre stratégie, vous serez mieux équipé pour vous positionner de manière avantageuse sur le marché. La connaissance approfondie de votre environnement concurrentiel est un atout majeur pour prendre des décisions stratégiques éclairées.

Après avoir analysé la concurrence, la prochaine étape est de définir un plan opérationnel solide qui dé taille comment vous allez gérer et faire fonctionner votre entreprise au quotidien. Cela sera le sujet de notre prochaine section.

Business Plan : Maîtrisez l'Analyse Concurrentielle en 3 Étapes

Établir un Plan Opérationnel

Une fois que vous avez une compréhension claire de votre marché, de votre proposition de valeur, et de votre environnement concurrentiel, il est crucial d'établir un plan opérationnel solide. Ce plan est le guide pratique de la gestion quotidienne de votre entreprise, couvrant tout, des opérations aux ressources nécessaires.

Détail des Opérations Quotidiennes de l'Entreprise

• Processus Opérationnels : Décrivez les processus clés nécessaires pour produire et livrer vos produits ou services. Cela inclut la chaîne d'approvisionnement, la production, la livraison, et le service après-vente.
• Gestion de la Qualité : Expliquez comment vous maintiendrez et surveillerez la qualité de vos produits ou services. Cela peut inclure des normes de qualité, des contrôles réguliers, et des procédures d'amélioration continue.
• Opérations Jour après Jour : Détaillez les activités quotidiennes nécessaires au fonctionnement de votre entreprise, y compris les heures d'ouverture, les processus de gestion des stocks, et les interactions avec les clients.
• Planification de la Capacité : Assurez-vous que vous avez la capacité opérationnelle nécessaire pour répondre à la demande prévue, en termes d'installations, d'équipements, et de personnel.

Planification des Ressources Nécessaires

• Ressources Humaines : Déterminez les besoins en personnel de votre entreprise, en incluant les compétences et l'expertise nécessaires. Planifiez le recrutement, la formation, et le développement du personnel.
• Ressources Matérielles : Identifiez les équipements, les matériaux, et les installations nécessaires. Cela inclut l'achat ou la location d'équipements, la gestion des stocks, et la logistique.
• Technologie : Évaluez les besoins technologiques de votre entreprise. Cela peut inclure des logiciels de gestion d'entreprise, des solutions de commerce électronique, et des outils de communication.
• Budget Opérationnel : Préparez un budget pour couvrir les coûts opérationnels, en incluant les coûts de personnel, les achats de matériel, et les dépenses technologiques.

Un plan opérationnel détaillé et réaliste vous aidera à assurer que votre entreprise fonctionne de manière efficace et efficiente dès le départ. Il est essentiel pour anticiper les défis opérationnels et pour vous préparer à les surmonter. Après avoir établi votre plan opérationnel, nous aborderons la façon de présenter efficacement votre business plan, afin de captiver les investisseurs et les autres parties prenantes importantes.

Conseils pour la Présentation de votre Business Plan

Une fois que tous les éléments de votre business plan sont en place, l'étape finale est de le présenter de manière à captiver l'attention et susciter l'intérêt des investisseurs et des parties prenantes. Voici comment vous pouvez y parvenir :

Rendre votre Business Plan Attrayant pour les Investisseurs et les Parties Prenantes

• Mettez en Avant votre Proposition de Valeur Unique : Commencez par souligner ce qui rend votre entreprise unique. Clarifiez comment votre produit ou service répond à un besoin non satisfait ou résout un problème spécifique.
• Présentez une Vision Claire : Les investisseurs veulent voir que vous avez une vision claire et une stratégie pour y parvenir. Assurez-vous que ces éléments sont évidents et bien articulés dans votre plan.
• Démontrez une Compréhension du Marché : Montrez que vous avez une compréhension approfondie de votre marché cible, y compris la taille du marché, le potentiel de croissance, et les tendances.
• Preuves et Données : Appuyez vos affirmations avec des données concrètes, des études de marché, des projections financières réalistes, et des exemples de succès (si disponibles).

Astuces de Présentation : Clarté, Concision, Professionnalisme

• Clarté et Structure : Assurez-vous que votre business plan est logique, facile à suivre et bien structuré. Chaque section doit s'enchaîner de manière fluide.
• Concision : Soyez succinct. Évitez les divagations inutiles. Concentrez-vous sur les informations les plus pertinentes et significatives.
• Professionnalisme : Votre document doit être professionnel tant dans le fond que dans la forme. Cela inclut une mise en page soignée, une grammaire et une orthographe correctes, et l'utilisation appropriée des graphiques et des tableaux.
• Préparation à la Présentation : Si vous devez présenter votre plan en personne, pratiquez votre discours et soyez prêt à répondre aux questions. La confiance et la préparation peuvent faire une grande différence.
• Utilisation de Supports Visuels : Utilisez des graphiques, des diagrammes et des infographies pour illustrer des points complexes. Les visuels peuvent rendre l'information plus accessible et mémorable.

En suivant ces conseils pour la préparation et la présentation de votre business plan, vous augmentez vos chances de faire une impression positive et convaincante sur vos investisseurs et parties prenantes. Cela peut être déterminant pour obtenir le soutien et les ressources nécessaires pour transformer votre vision en réalité.

Votre business plan est maintenant prêt à être présenté. Rappelez-vous, un business plan est un document vivant qui doit évoluer avec votre entreprise. Soyez prêt à l'ajuster et à le mettre à jour au fur et à mesure que votre entreprise grandit et que le marché change.

Exemple de quelques pages d'un Business Plan clair et bien présenté

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En parcourant les différentes étapes de la rédaction d'un business plan, nous avons exploré les composants essentiels qui forment la structure de ce document crucial. Chaque section, de la définition de votre proposition de valeur à l'analyse de la concurrence, en passant par la planification financière et les stratégies de marketing, joue un rôle clé dans la construction d'une base solide pour votre entreprise.

Un business plan bien élaboré est bien plus qu'un simple document destiné à attirer des investisseurs ; il est une feuille de route stratégique qui guide votre entreprise à travers les phases de croissance et de développement. Il vous aide à naviguer dans le monde complexe de l'entrepreneuriat avec une vision claire et des objectifs bien définis.

Pour vous, entrepreneurs débutants , cet article a pour but de vous encourager à vous engager avec enthousiasme et rigueur dans la rédaction de votre business plan. Il symbolise votre engagement envers votre vision, votre compréhension approfondie de votre marché et votre préparation à relever les défis futurs. 

N'oubliez pas que l'entrepreneuriat est un voyage , et tout grand voyage commence avec une carte détaillée. Votre business plan est cette carte. Si vous souhaitez approfondir vos connaissances ou obtenir de l'aide pour la création de votre business plan, découvrez notre Formation en Business Plan et n'hésitez pas à nous contacter via notre page de contact pour un accompagnement personnalisé. Bonne chance dans votre passionnante aventure vers le succès en affaires !

1. Quelle est l'utilité d'un business plan ?

Un business plan est un document essentiel pour toute nouvelle entreprise ou projet. Il sert de feuille de route, définissant la stratégie, les objectifs, et la manière d'atteindre ces objectifs. C'est un outil crucial pour attirer des investisseurs, gérer efficacement l'entreprise et anticiper les défis futurs.

2. Comment faire un business plan ?

Pour réaliser un business plan, commencez par définir votre idée d'entreprise, votre marché cible et votre proposition de valeur. Analysez ensuite votre marché, y compris la concurrence et les tendances, et élaborez des stratégies de marketing et de vente. N'oubliez pas de planifier vos besoins financiers et opérationnels et de préparer des projections financières.

3. Comment est fait un business plan ?

Un business plan typique comprend plusieurs sections clés : un résumé exécutif, une description de l'entreprise, une analyse de marché, un plan opérationnel, des stratégies de marketing et de vente, une analyse financière, et des annexes pour les informations supplémentaires. Chaque section doit être détaillée et basée sur des recherches approfondies.

4. Quelle est la partie la plus importante d'un business plan ?

Bien que toutes les parties d'un business plan soient importantes, la proposition de valeur et l'analyse de marché sont souvent considérées comme les plus cruciales. Elles définissent comment votre entreprise répondra aux besoins du marché et se démarquera de la concurrence.

5. Comment se faire aider pour un business plan ?

Si vous avez besoin d'assistance pour élaborer votre business plan, plusieurs options s'offrent à vous. Vous pouvez consulter des experts en entrepreneuriat pour des conseils personnalisés. Participer à des ateliers et des formations, comme notre Formation en Business Plan , est également un excellent moyen d'acquérir les compétences et les connaissances nécessaires. Pour une aide plus autonome, envisagez d'utiliser des outils en ligne et des modèles de business plan, qui peuvent servir de base à votre travail. Enfin, pour un accompagnement sur mesure et des réponses à vos questions spécifiques, n'hésitez pas à nous contacter via notre page de contact . Nos conseillers professionnels et mentors d'entreprise sont prêts à vous guider dans chaque étape de la création de votre business plan.

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550+ Business Plan Examples to Launch Your Business

Need help writing your business plan? Explore over 550 industry-specific business plan examples for inspiration.

Find your business plan example

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View all sample business plans

Example business plan format

Before you start exploring our library of business plan examples, it's worth taking the time to understand the traditional business plan format . You'll find that the plans in this library and most investor-approved business plans will include the following sections:

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally only one to two pages. You should also plan to write this section last after you've written your full business plan.

Your executive summary should include a summary of the problem you are solving, a description of your product or service, an overview of your target market, a brief description of your team, a summary of your financials, and your funding requirements (if you are raising money).

Products & services

The products & services chapter of your business plan is where the real meat of your plan lives. It includes information about the problem that you're solving, your solution, and any traction that proves that it truly meets the need you identified.

This is your chance to explain why you're in business and that people care about what you offer. It needs to go beyond a simple product or service description and get to the heart of why your business works and benefits your customers.

Market analysis

Conducting a market analysis ensures that you fully understand the market that you're entering and who you'll be selling to. This section is where you will showcase all of the information about your potential customers. You'll cover your target market as well as information about the growth of your market and your industry. Focus on outlining why the market you're entering is viable and creating a realistic persona for your ideal customer base.

Competition

Part of defining your opportunity is determining what your competitive advantage may be. To do this effectively you need to get to know your competitors just as well as your target customers. Every business will have competition, if you don't then you're either in a very young industry or there's a good reason no one is pursuing this specific venture.

To succeed, you want to be sure you know who your competitors are, how they operate, necessary financial benchmarks, and how you're business will be positioned. Start by identifying who your competitors are or will be during your market research. Then leverage competitive analysis tools like the competitive matrix and positioning map to solidify where your business stands in relation to the competition.

Marketing & sales

The marketing and sales plan section of your business plan details how you plan to reach your target market segments. You'll address how you plan on selling to those target markets, what your pricing plan is, and what types of activities and partnerships you need to make your business a success.

The operations section covers the day-to-day workflows for your business to deliver your product or service. What's included here fully depends on the type of business. Typically you can expect to add details on your business location, sourcing and fulfillment, use of technology, and any partnerships or agreements that are in place.

Milestones & metrics

The milestones section is where you lay out strategic milestones to reach your business goals.

A good milestone clearly lays out the parameters of the task at hand and sets expectations for its execution. You'll want to include a description of the task, a proposed due date, who is responsible, and eventually a budget that's attached. You don't need extensive project planning in this section, just key milestones that you want to hit and when you plan to hit them.

You should also discuss key metrics, which are the numbers you will track to determine your success. Some common data points worth tracking include conversion rates, customer acquisition costs, profit, etc.

Company & team

Use this section to describe your current team and who you need to hire. If you intend to pursue funding, you'll need to highlight the relevant experience of your team members. Basically, this is where you prove that this is the right team to successfully start and grow the business. You will also need to provide a quick overview of your legal structure and history if you're already up and running.

Financial projections

Your financial plan should include a sales and revenue forecast, profit and loss statement, cash flow statement, and a balance sheet. You may not have established financials of any kind at this stage. Not to worry, rather than getting all of the details ironed out, focus on making projections and strategic forecasts for your business. You can always update your financial statements as you begin operations and start bringing in actual accounting data.

Now, if you intend to pitch to investors or submit a loan application, you'll also need a "use of funds" report in this section. This outlines how you intend to leverage any funding for your business and how much you're looking to acquire. Like the rest of your financials, this can always be updated later on.

The appendix isn't a required element of your business plan. However, it is a useful place to add any charts, tables, definitions, legal notes, or other critical information that supports your plan. These are often lengthier or out-of-place information that simply didn't work naturally into the structure of your plan. You'll notice that in these business plan examples, the appendix mainly includes extended financial statements.

Types of business plans explained

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. To get the most out of your plan, it's best to find a format that suits your needs. Here are a few common business plan types worth considering.

Traditional business plan

The tried-and-true traditional business plan is a formal document meant to be used for external purposes. Typically this is the type of plan you'll need when applying for funding or pitching to investors. It can also be used when training or hiring employees, working with vendors, or in any other situation where the full details of your business must be understood by another individual.

Business model canvas

The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

The structure ditches a linear format in favor of a cell-based template. It encourages you to build connections between every element of your business. It's faster to write out and update, and much easier for you, your team, and anyone else to visualize your business operations.

One-page business plan

The true middle ground between the business model canvas and a traditional business plan is the one-page business plan . This format is a simplified version of the traditional plan that focuses on the core aspects of your business.

By starting with a one-page plan , you give yourself a minimal document to build from. You'll typically stick with bullet points and single sentences making it much easier to elaborate or expand sections into a longer-form business plan.

Growth planning

Growth planning is more than a specific type of business plan. It's a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, forecast, review, and refine based on your performance.

It holds all of the benefits of the single-page plan, including the potential to complete it in as little as 27 minutes . However, it's even easier to convert into a more detailed plan thanks to how heavily it's tied to your financials. The overall goal of growth planning isn't to just produce documents that you use once and shelve. Instead, the growth planning process helps you build a healthier company that thrives in times of growth and remain stable through times of crisis.

It's faster, keeps your plan concise, and ensures that your plan is always up-to-date.

Download a free sample business plan template

Ready to start writing your own plan but aren't sure where to start? Download our free business plan template that's been updated for 2024.

This simple, modern, investor-approved business plan template is designed to make planning easy. It's a proven format that has helped over 1 million businesses write business plans for bank loans, funding pitches, business expansion, and even business sales. It includes additional instructions for how to write each section and is formatted to be SBA-lender approved. All you need to do is fill in the blanks.

How to use an example business plan to help you write your own

How do you know what elements need to be included in your business plan, especially if you've never written one before? Looking at examples can help you visualize what a full, traditional plan looks like, so you know what you're aiming for before you get started. Here's how to get the most out of a sample business plan.

Choose a business plan example from a similar type of company

You don't need to find an example business plan that's an exact fit for your business. Your business location, target market, and even your particular product or service may not match up exactly with the plans in our gallery. But, you don't need an exact match for it to be helpful. Instead, look for a plan that's related to the type of business you're starting.

For example, if you want to start a vegetarian restaurant, a plan for a steakhouse can be a great match. While the specifics of your actual startup will differ, the elements you'd want to include in your restaurant's business plan are likely to be very similar.

Use a business plan example as a guide

Every startup and small business is unique, so you'll want to avoid copying an example business plan word for word. It just won't be as helpful, since each business is unique. You want your plan to be a useful tool for starting a business —and getting funding if you need it.

One of the key benefits of writing a business plan is simply going through the process. When you sit down to write, you'll naturally think through important pieces, like your startup costs, your target market , and any market analysis or research you'll need to do to be successful.

You'll also look at where you stand among your competition (and everyone has competition), and lay out your goals and the milestones you'll need to meet. Looking at an example business plan's financials section can be helpful because you can see what should be included, but take them with a grain of salt. Don't assume that financial projections for a sample company will fit your own small business.

If you're looking for more resources to help you get started, our business planning guide is a good place to start. You can also download our free business plan template .

Think of business planning as a process, instead of a document

Think about business planning as something you do often , rather than a document you create once and never look at again. If you take the time to write a plan that really fits your own company, it will be a better, more useful tool to grow your business. It should also make it easier to share your vision and strategy so everyone on your team is on the same page.

Adjust your plan regularly to use it as a business management tool

Keep in mind that businesses that use their plan as a management tool to help run their business grow 30 percent faster than those businesses that don't. For that to be true for your company, you'll think of a part of your business planning process as tracking your actual results against your financial forecast on a regular basis.

If things are going well, your plan will help you think about how you can re-invest in your business. If you find that you're not meeting goals, you might need to adjust your budgets or your sales forecast. Either way, tracking your progress compared to your plan can help you adjust quickly when you identify challenges and opportunities—it's one of the most powerful things you can do to grow your business.

Prepare to pitch your business

If you're planning to pitch your business to investors or seek out any funding, you'll need a pitch deck to accompany your business plan. A pitch deck is designed to inform people about your business. You want your pitch deck to be short and easy to follow, so it's best to keep your presentation under 20 slides.

Your pitch deck and pitch presentation are likely some of the first things that an investor will see to learn more about your company. So, you need to be informative and pique their interest. Luckily we have a round-up of real-world pitch deck examples used by successful startups that you can review and reference as you build your pitch.

For more resources, check out our full Business Pitch Guide .

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Dancers, painters, sculptors - your art needs a plan! Our free business plan template covers market analysis, financial planning, and more. Get your PDF and pirouette your way to success!

Business Plan Artist (Free PDF)

An Artist's Guide to Crafting a Business Plan

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• June 4, 2024   •   29:17 A Conversation With President Zelensky
• June 3, 2024   •   32:07 How Trump’s Conviction Could Reshape the Election
• May 31, 2024   •   31:29 Guilty
• May 30, 2024   •   25:21 The Government Takes On Ticketmaster
• May 29, 2024   •   29:46 The Closing Arguments in the Trump Trial
• May 28, 2024   •   25:56 The Alitos and Their Flags
• May 24, 2024   •   25:18 Whales Have an Alphabet
• May 23, 2024   •   34:24 I.C.C. Prosecutor Requests Warrants for Israeli and Hamas Leaders
• May 22, 2024   •   23:20 Biden’s Open War on Hidden Fees
• May 21, 2024   •   24:14 The Crypto Comeback
• May 20, 2024   •   31:51 Was the 401(k) a Mistake?
• May 19, 2024   •   33:23 The Sunday Read: ‘Why Did This Guy Put a Song About Me on Spotify?’

How Trump’s Conviction Could Reshape the Election

The guilty verdict in his manhattan criminal trial is set to become a key piece in the 2024 campaign..

Hosted by Michael Barbaro

Featuring Maggie Haberman and Reid J. Epstein

Produced by Rachel Quester ,  Asthaa Chaturvedi ,  Mooj Zadie and Diana Nguyen

Edited by Devon Taylor

Original music by Marion Lozano ,  Elisheba Ittoop and Pat McCusker

Engineered by Chris Wood

Listen and follow The Daily Apple Podcasts | Spotify | Amazon Music | YouTube

Last week, Donald J. Trump became the first U.S. former president to be convicted of a crime when a jury found that he had falsified business records to conceal a sex scandal.

Nate Cohn, who is the chief political analyst at The Times, Maggie Haberman, a senior political correspondent, and Reid J. Epstein, who also covers politics, discuss how the conviction might shape the remaining months of the presidential race.

On today’s episode

Nate Cohn , who is the chief political analyst for The New York Times.

Maggie Haberman , a senior political correspondent for The New York Times.

Reid J. Epstein , who covers politics for The New York Times.

Background reading

The political fallout is far from certain, but the verdict will test America’s traditions and legal institutions .

Watch a video analysis of whether this newfound moment sticks politically.

Democrats are pushing President Biden to make Mr. Trump’s felonies a top 2024 issue .

There are a lot of ways to listen to The Daily. Here’s how.

We aim to make transcripts available the next workday after an episode’s publication. You can find them at the top of the page.

The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Sydney Harper, Mike Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Diana Nguyen, Marion Lozano, Corey Schreppel, Rob Szypko, Elisheba Ittoop, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky, John Ketchum, Nina Feldman, Will Reid, Carlos Prieto, Ben Calhoun, Susan Lee, Lexie Diao, Mary Wilson, Alex Stern, Sophia Lanman, Shannon Lin, Diane Wong, Devon Taylor, Alyssa Moxley, Summer Thomad, Olivia Natt, Daniel Ramirez and Brendan Klinkenberg.

Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly. Special thanks to Sam Dolnick, Paula Szuchman, Lisa Tobin, Larissa Anderson, Julia Simon, Sofia Milan, Mahima Chablani, Elizabeth Davis-Moorer, Jeffrey Miranda, Renan Borelli, Maddy Masiello, Isabella Anderson, Nina Lassam and Nick Pitman.

Maggie Haberman is a senior political correspondent reporting on the 2024 presidential campaign, down ballot races across the country and the investigations into former President Donald J. Trump. More about Maggie Haberman

Reid J. Epstein covers campaigns and elections from Washington. Before joining The Times in 2019, he worked at The Wall Street Journal, Politico, Newsday and The Milwaukee Journal Sentinel. More about Reid J. Epstein

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