Business Plan Templates in Google Docs and Word
Choose the best business plan templates in google docs, google slides, google sheets, and other formats. we provide you with startup, botanical business, coffee shop business plan forms, and more. find your blank in white or dark colors and with trendy designs.
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Amazing Startup Business Plan
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Business Startup Costs
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Professional Business Startup Costs
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Do you need to pick the right editable business plan template? Our options have an exceptional design yet comprehensible concept. Keep in mind that you can edit and customize these samples using Google Docs, Slides, and Sheets. You can find options for any startup idea on our website. Our samples are 100% unique. Designers are creating free business plan templates from scratch.
Business plans on the website draw attention immediately. They have a memorable design that is easy to remember. You can edit, adjust, download, and publish our templates for free. No hidden fees, no additional payments.
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Business plans template FAQs
Free Business Plan Templates Google Docs
Ajay Jagtap
- December 29, 2023
12 Min Read
![startup business plan template google docs google doc template](https://static-web.upmetrics.co/wp-content/uploads/2023/09/22110012/google-doc-template.png)
We know you—this may be your first visit to our site, but we know exactly who you are.
You must be an aspiring entrepreneur, small business owner, or perhaps a business student looking for a customizable Google Docs business plan template to draft your very first business plan— but no luck so far .
Since you’ve already been down that road—you know preparing a detailed business plan from scratch is no walk in the park.
It requires thorough market research, validated data, and thoughtful analysis of various aspects of an enterprise to put together a well-written plan.
A well-written plan that’s no paper stack collecting dust on your desk, but a business document that helps strategize business growth and secure funds.
Although it’s no easy feat—using a Google Docs template can make things a lot easier.
A professional business plan template can help you refine your strategies, organize ideas, and outline the structure of your plan through step-by-step instructions.
In this article, we’ll discuss the top 5 free business plan templates available in Google Docs, their features, benefits, and how you can use them to simplify your business planning process.
Ready to get started? Let’s dive right in.
Understanding Business Plan Templates
As you already know—your business plan is a document that summarizes your business objectives and outlines strategies or plans to achieve them.
In contrast, a business plan template is a format that helps entrepreneurs prepare a structural outline while drafting a perfect business plan.
It’s not that you can’t create a plan without using a business plan template.
However, having a well-structured template can help you develop a detailed and visually appealing plan and make sure you won’t miss out on any critical information.
Let’s quickly overview the key components of a business plan template:
Key components of a business plan template
While there could be multiple types of business plans, the standard outline is almost similar for business plans across industries. The following are the key components of a business plan template.
Executive Summary:
Company overview:, market analysis:, products and services:, sales and marketing strategies:, operations plan:, management team:, financial plan:.
That’s pretty much it about the components of a business plan template. Let’s move ahead and discuss the top #5 Google Docs templates for business planning.
Download Top Business Plan Templates in Google Docs
Considering different business plan types, multiple templates are available in Google Docs, but do you know which one you need?
Well done if you do, and don’t worry if you don’t.
The following are the top Google Docs business plan templates you can download for free. While we will share access to them, we’ll also discuss which will suit your requirements the best.
So let’s cut to the chase.
Template #1: Startup Business Plan Template
As its name suggests, a startup business plan template is specifically designed to meet the specific needs of new startups.
This ultimate template can help new-age entrepreneurs predict challenges, achieve their business objectives and goals, understand business financials, and revise strategies—in short, it is a roadmap for them to get started.
The primary objective of a startup business plan is to put forth the steps to get a business up and running.
A startup business plan template emphasizes providing detailed information about the startup, its product or service offerings, a thorough industry, market, SWOT, and competitive analysis, marketing strategies, management team, operational plan, and financial projections.
Best for : New entrepreneurs and small business owners seeking investment or bank loans.
![startup business plan template google docs startup business plan template](https://static-web.upmetrics.co/wp-content/uploads/2023/09/21152437/startup-business-plan-template.png)
Template #2: Lean Business Plan Template
Consider a lean business plan template as a condensed version of a traditional one—that’s the best way to put it. It’s a shorter version of a business plan highlighting and summarizing all its sections.
A lean business plan primarily focuses on critical elements, including strategies, tactics, metrics, and finances.
Since it’s comparatively shorter, drafting a lean business plan is easier, quicker, and efficient compared to a traditional plan. It’s flexible enough to update and revise, providing sufficient room for improvisation.
It consists of short texts and mainly represents relevant information using bullet points.
While a lean business plan template is for businesses uncertain about the business planning process, it’s ideal for everyone to use a lean business plan template to create the first draft of their business plan—and then move ahead with creating a detailed one.
Best for: Businesses in fast-changing industries, startups with limited resources, sole proprietors, and internal planning.
![startup business plan template google docs the lean canvas template](https://static-web.upmetrics.co/wp-content/uploads/2023/09/21163658/the-lean-canvas-template.png)
Template #3: One Page Business Plan Template
A one-page business is a condensed, simplified, and one-page version of a standard business plan. Consider this as an outline of a lean business plan.
(that we discussed earlier)
A one-page plan is often used to present a quick overview of your business to your employees, partners, and vendors and as a summary to banks and investors.
It’s just a one-page plan, so it doesn’t mean it’s only for a specific group of people or businesses—no.
In fact, a one-page plan can be a viable option in multiple scenarios. It can be used by idea-stage businesses, startups & pre-revenue businesses, and businesses planning to expand for various purposes.
If you need a plan for internal use or don’t intend to share lots of details while sharing with outside vendors—a one-page business plan will do.
However, companies seeking outside investment or bank loans must prepare a detailed business plan—there’s no other way around.
Best for : Idea stage startups, side-hustlers, solopreneurs, micro-businesses, and business idea testing.
![startup business plan template google docs one page business plan template](https://static-web.upmetrics.co/wp-content/uploads/2023/09/21153649/one-page-business-plan-template.png)
Template #4: Business Plan Template For Small Business
If you plan to start a small business or grow an existing one, this is the free business plan template you need for your small business.
This template gives you a layout for your business plan to get started that you can easily customize depending on your requirements, ensuring you won’t miss out on any critical information.
Similar to a traditional business plan, the key elements of a small business plan template include an executive summary, company overview, products and services, sales and marketing strategy, operations plan, management team, and financial projections.
Best for : Small business owners seeking funding or bank loans.
![startup business plan template google docs small business plan template](https://static-web.upmetrics.co/wp-content/uploads/2023/09/21154045/small-business-plan-template.png)
Template #5: Restaurant Business Plan Template
Every successful business requires a business plan, and your restaurant is no exception. Whether you plan to open a new restaurant or grow an existing one, this template can help you lay out a perfect plan for your business.
This restaurant business plan is specifically designed for restaurant businesses, so it’s a no-brainer; it covers all the essential elements of a restaurant business plan that go into making a restaurant a success.
These elements include restaurant concept, target market, sample menu, marketing strategy, and others.
That’s not it—this comprehensive restaurant business plan template comes with step-by-step instructions, so you can start writing a plan in no time.
Best for : Small to medium-sized restaurant and food-based business owners
![startup business plan template google docs restaurant business plan template](https://static-web.upmetrics.co/wp-content/uploads/2023/09/21154821/restaurant-business-plan-template.png)
That was the list of top Google Docs business plan templates, but that’s not it. Let’s move forward to discussing the Google Sheets financial forecast template.
Download the Financial Forecast Template In Google Sheets
You must be like— yeah, got a Google Docs template to write a business plan , but what about financial forecasts and statements? Worry not—we’ve got you covered.
Since we can’t prepare financial statements in Google Docs, we’ve created a Google Sheet for you. This financial statement template includes a balance sheet, income, and cash flow statement.
You can download and use this template to forecast cash flow, create balance sheets, and prepare income statements that provide detailed information about your revenue and expenses. So what are you waiting for?
How to Use a Google Docs Business Plan Template
We talked about so many things in this article so far—business plan template, its key elements, top Google Docs templates, and so forth. It’s time we learn how to use a Google Docs template to create a business plan.
Ready? Here’s how to use a Google Docs business plan template:
Download a Google Docs Template
You need to download the template first to use it, right? So, download one of the top 5 templates we discussed earlier in the article.
Make sure you have a Google Account to open this document.
(That’s obvious, of course!)
We can proceed to the next step once you download and access the template.
Customize the Template
It’s time to customize the template to turn it into a business plan.
You can make modifications to the design, update the logo and company details, and follow step-by-step instructions and the outline while modifying text.
We never said that customizing it would be an easy deal—there will be some serious legwork. However, there’s another way around it.
![startup business plan template google docs startup business plan template google docs](https://static-web.upmetrics.co/wp-content/uploads/2022/07/15115642/tip.png)
Need a way out from manual editing and business plan writing work?
Get Upmetrics’ business plan template, import data directly into the editor, and start editing using Upmetrics AI Assistant.
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Start Planning Now
Understood how to use a Google Docs template? Great. Let’s discuss the benefits of using these templates to prepare a business plan.
Benefits of Using Google Docs Business Plan Templates
Following are the key benefits of using a Google Docs template to prepare a business plan.
Real-time Collaboration
Google Docs makes collaborating with your team members or partners in real-time while working on your plan easier.
The real-time collaboration feature helps team members make the most of available resources and develop a business plan in the present moment, ensuring the best results.
Access Control
In extending to real-time collaboration, Google Docs allows you to control your team members’ access. So, you can grant role-based access to your team members (view, edit, or comment)
Comments and Suggestions
Google Docs also allows readers or reviewers to comment or suggest any changes in the document. So, you can share your plan with your partners or mentors, asking for their suggestions or input.
Version History
Remember the days when we had to start over if we forgot to save a Word file or could not recover it if it was altered unnecessarily? Well, that’s not the case with Version history.
This incredible feature enables you to revisit the previous version of your documents and even restore them. So, don’t worry if you made any unnecessary changes—you can always go back in time.
Offline Access
Although Google Workspace is a cloud-based solution, you can access and update your document offline with “Offline Access”. Just make sure your browser is up-to-date, and you’ve installed and turned on the Google Docs offline access extension.
Ease of Use
Using a Google Docs template for business planning is one of the easiest methods for creating a business plan. There’s no extraordinary learning curve, and you won’t need any technical skills to get started—it’s pretty simple and easy to use.
Cost Efficient
Upmetrics offers free business plan templates, while Google Docs is free for individual users. This is what makes this business planning method ideal for beginners.
That’s it, now you know the benefits too. This brings us to the conclusion.
To conclude, using these Google Docs templates is an easy and cost-effective way to develop your business plan. Is it the best? Not sure. These templates are free versions of Upmetrics’ comprehensive business plan templates, so you may not make the most of them.
Google Docs may also fall short when forecasting financials or preparing complex sections and visual reports— business plan software is necessary for detailed business planning by all means.
A business planning tool like Upmetrics could be an incredible choice, it comes with 400+ business plan examples and an AI writing assistant to write sections of your plan.
Anyway, I hope you found what you were looking for. Start planning!
Make your plan in half the time & twice the impact with Upmetrics
Fill-in-the-blanks, AI-assistance, and automatic financials make it easy.
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Frequently Asked Questions
How do i create a business plan using google docs.
Using any one of Upmetrics’ business plan templates could be an easy way to create a business plan using Google Docs.
Can I customize a business plan template in Google Docs to fit my specific needs?
Indeed. Once you download a Google Docs business plan template, you can easily customize it to fit your specific business needs.
Can I share my business plan with others using Google Docs?
Of course, you can easily share your business plan with others using Google Docs. All you need to do is enter the email address of the person you want to share it with under the section “share with people and groups”.
Are there any free business plan templates available in Google Docs?
Yes, Upmetrics offers 5 free Google Docs business plan templates to download and use. You can easily download any one of them that best fits your needs and start writing your plan.
About the Author
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Ajay is a SaaS writer and personal finance blogger who has been active in the space for over three years, writing about startups, business planning, budgeting, credit cards, and other topics related to personal finance. If not writing, he’s probably having a power nap. Read more
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Free Business Plan Google Docs Templates
A well-thought-out business plan will be useful at all stages of the company’s activity. When starting your business, you should make it to determine the structure, budget, development strategies.
If your goal is finance sourcing, then pay special attention to the evidence that the money invested by the customers will pay off. And when telling your potential partners or clients about your project, focus on the benefits of working with you.
To introduce the company’s program at a high level, use business plan template for Google Docs. Free layouts developed by professional designers will save you time, effort and money, guaranteeing a quality result.
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This standard layout will be good for any company. Attractive Business Plan Template is designed to describe the marketing strategy and has an editable schedule. The document also has a place for conclusions on market analysis. The background image on the front page can be changed to better match the activity area.
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The template is perfect for creating a business plan for a restaurant, cafe, and any other catering establishment. The first page shows the establishment’s name and its main concept. The next one is intended for a detailed description of the strategy, with photos and text. If one page is not enough, just copy and edit it as many times as you need.
![startup business plan template google docs Lean Business Plan Template for Google Docs](https://docsandslides.com/wp-content/uploads/2022/09/Lean-business-plan-0000.webp)
The effective Lean Business Plan Template for Google Docs is suitable for any activity area. The layout includes a large chart and a numbered list to help structure information conveniently. Its main features are a gradient background in blue shades and a low-key style. There is enough text space to fit all the important points.
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This laconic template will come useful when you need to present the most important points in short. It consists of one page where you can fit up to five points. This is enough to list the activity areas and values of the company, to provide information on market analysis, marketing strategies and reward expectations.
What are the best Business Plan Templates in 2024?
Does google docs have a business plan template, what are the advantages of using business plan templates for google docs, who should use a business plan template.
To draw attention to your project, you need to convincingly demonstrate its main advantages and prospects. Correctly presented information will help you attract investors, get financing, and find new customers and partners. Using well-thought-out business plan templates, you can quickly create a professional presentation that will make a good impression on the audience.
How to Create a Business Plan Using Google Docs Templates
The structure of your plan depends on the type of project and the audience you’re going to present it to. The easiest way is to choose a thematic layout for entrepreneurs from the DocsandSlides.com collection, which already includes all the necessary points. However, nothing prevents you from choosing free business plan templates that you like visually. To create a convincing presentation, add to it:
- Information about how your product will interest potential customers and what needs it will satisfy. If you are going to demonstrate the project on behalf of a company, briefly tell Google Docs business plan template about its activities, achievements, and competitive advantages.
- Analytical data obtained during the study of the market, target audience, and competitors.
- Marketing strategy, including pricing policy, promotion channels, loyalty programs for customer retention.
- List of necessary equipment, materials, and personnel. In addition to the production process, describe in the business plan template for Google Docs everything that is required for supply, delivery, and customer service.
- Projected revenues, expenses, and methods of generating additional income. If you are looking for financing, specify the amount you need. Prepare business cards in advance using Business Card Templates to leave your contacts with those who are interested in the project.
- Potential risks that await your business, ways to avoid them and minimize possible damage.
When you finish Innovative business planning in Google Docs, you should summarize the project with a brief description of its benefits and prospects. After that, all you have to do is save the document in the desired format.
Advantages of Our Business Plan Templates
We try to provide you with the most user-friendly business planning Google Docs. Our layouts are designed to be intuitive even for those who have never worked with such documents before. All you need to do is download the one you like to your Google Drive and replace the information inside with your own.
All our Templates For Google Docs :
- Easy to use;
- Designed by experienced designers;
- Have a well-thought-out structure;
- Easy to edit.
Our collection is regularly updated with new free templates for business plans. Thanks to their professional design, they can be demonstrated at investment forums, conferences, business meetings, and thematic online platforms.
Use a customizable Business Letter Template to invite guests to a project presentation. To make it convenient for the audience to take notes, print a blank Business Memo Template or another layout suitable for note-taking for each of them.
Generating high-quality templates requires significant time and dedication. We simply request the inclusion of a small attribution link. Select the platform where you intend to utilize the template.
Choose your preferred social media platform from options like Pinterest, Facebook, Twitter, and more. Share our templates with your contacts or friends. If you’re not active on these social networks, you can simply copy the link and paste it into the one you use.
Copy this link and paste it wherever it’s visible, close to where you’re using the image. If that’s not possible, place it at the footer of your website, blog or newsletter, or in the credits section.
Place the attribution line near the image’s usage on your website, or if that’s not feasible, include it in the credits section. For example: ‘image: Docsandslides.com’. This template was created using images from Docsandslides.com.
If you prefer not to support the author, simply follow the link and leave a review on our Google My Business page. By doing so, you’ll be able to use our template for free.
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Google Docs Business Plan Template
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In today’s fast-paced and ever-evolving business landscape, having a comprehensive and well-structured business plan is crucial for success. Whether you’re a seasoned business owner or just starting your entrepreneurial journey, a Google doc business plan template offers a valuable resource to help you organize your ideas, refine your strategies, and present a compelling roadmap for your business. In this article, we’ll explore the features and benefits of a business plan template using Google docs and how it can enhance your business planning process.
Following a step-by-step business plan creates an all-in-one solution for small business owners and entrepreneurs. And, by using a pre-designed framework, you can craft your business plan to focus on the “why” behind your business and the steps you’ve already taken to make your business a true success. In the following, we’ll show you exactly how to create your compelling plan. Let’s get started:
Download our Google Docs Business Plan Template here >
Google Doc Business Plan
Executive summary.
The first few pages of your business plan contain the executive summary. It highlights the key points, findings and recommendations inside your business plan google docs template. Why create a summary when the business plan holds all the details? We’re glad you asked. The executive summary allows busy executives to quickly grasp the main ideas and make informed decisions about your business concepts and plans. It serves as a snapshot of the document, capturing its essence and presenting it in a clear and concise manner. By providing an executive summary, you’re allowing decision-makers to first discover a “teaser” bit about your business, and then become more intrigued as the full plan is unveiled.
Company Overview
The next portion of your free business plan template google docs is composed of a full company overview. You’ll establish facts, explain the company history, outline the services or products to be offered, and detail the milestones you’ve already achieved to get your business started. This is the “big-picture” story and it’s integral to your plan, as it contains the “why” behind your business. You’ll want to provide details in this portion of the business plan, such as descriptions of your products or services, a brief description of your management team, the issues or problems that brought you to the place of finding the best solutions, and other factors that are singular to your business and your vision for the future. You’ll also include any partnerships, you’ll detail innovative products or ideas, and you’ll emphasize that your goal is to drive positive change.
Industry Analysis
The next section of your business plan, the industry analysis, reveals crucial insights into the current state and future prospects of your industry sector. An industry analysis requires market research to help show market trends, competitors, customer preferences and regulatory influences. The analysis within your business plan also provides a solid depth of understanding regarding the dynamics of the industry and it helps identify growth potential, possible risks, and key challenges that may be ahead. And, finally, after reviewing the results of the analysis, a business leader repositions plans as needed and makes informed choices to move ahead with clarity.
Customer Analysis
In the customer analysis section of the business plan, the vital component of your business strategy is revealed: valuable insights into the behavior, preferences, and needs of customers are detailed. And, with that reveal, a deeper understanding of the target market is gained, enabling your business to better tailor products, services and your initial marketing efforts accordingly. Gathering and analyzing data offers a sneak peek at the purchasing choices of consumers, and with that snippet of knowledge, you’ll be able to better meet that need, solve that pain, or serve that drive for satisfaction. Whether your target market analysis is extensive or defined, you’ll want to include all of the information gleaned from it in the business plan template google docs for optimal results.
Competitive Analysis
With the industry and customer analyses section of the business plan template complete; it’s the right time to examine the competitive analysis, as well. A data-driven study of competitors is a critical component of any business strategy, as it provides valuable insights into the strengths and weaknesses of key competitors operating in the same market. By evaluating and understanding the competitive landscape, businesses can identify opportunities for differentiation to gain that much-desired competitive edge. Your competitive analysis should reveal everything available about your competitors, including their brand reputation, customer loyalty, distribution channels and the financial resources they hold. Because your goal is to capitalize on market opportunities, you’ll want to understand the environment of every competitor your company may have.
Finish Your Business Plan in 1 Day!
Don’t you wish there was a faster, easier way to finish your business plan?
You can download Growthink’s Ultimate Business Plan Template (including a full, customizable financial model) and finish your plan in just 8 hours or less!
Click here to finish your business plan today.
Marketing Plan
The next step in building the business plan is found in creating a strategic marketing plan. This involves using the data compiled from the analyses to create a targeted and compelling message to consumers. Your marketing plan will outline the goals and tactics to promote your product or service in the most effective marketing strategy possible. And, tailoring marketing efforts to meet the parameters of the data and industry findings guarantees a better result in the marketing strategies utilized. In short, your marketing strategy will encompass various elements such as branding, advertising, digital marketing, public relations, and social media to create a cohesive and impactful marketing campaign. The ultimate objective of marketing plans is to achieve your desired business outcomes. As it should.
Operations Plan
The operations plan outlines the specific actions and strategies required to achieve the goals and objectives of the business. It provides a roadmap for how the business will carry out its daily operations, deliver products or services, and meet customer demands. It typically includes several key components; operational goals and objectives, desired outcomes, and performance metrics. This helps align the activities of different departments or teams with the broader organizational objectives. Processes and procedures are the highlights of the operations plan, along with the timelines and scheduling of implementing those objectives. Knowing how your business will actually conduct business is the perfect starting place for your success.
Management Team
Comprised of experienced professionals, the management team brings together a shared commitment to excellence. They will understand the collaboration and strong leadership skills needed to effectively manage the entire team, and they will be guided by a customer-centric approach. A brief sketch of the management leaders and their relevant professional backgrounds completes this section of the business plan.
Financial Plan
The financial plan completes the final section of the business plan template. It is a summary of the financial goals, along with the strategies and actions needed to achieve them. It also outlines key aspects, such as budgeting, savings, investment plans, and debt management that can adapt to changing circumstances and maximize financial stability and growth. Ultimately, the financial plan serves as a roadmap for informed decision-making and long-term financial success. Important financial projections such as a balance sheet and a cash flow statement can be made using google sheets
Crafting a well-thought-out, professional google docs business plan is vital for any entrepreneur or business owner. Using business plan template free google docs makes the effort less stressful, more cohesive, and simply inviting for potential stakeholders to review. We trust the creation of your business plan will lead to new beginnings, new directions and sustained long-term growth in your successful business ahead.
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Business Plan Template for Small Businesses
Business planning can feel complicated. it doesn't have to be. start putting pen to paper today with your free business plan template download..
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- Fill-in-the-blanks simplicity
You don't need to be an expert. This template makes business planning easy.
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Why you need a business plan
Writing a business plan can seem like a big task, especially if you’re starting a business for the first time and don’t have a financial background. After all, business plans have changed over the years, and what lenders and investors expect now is different than it was even just 10 years ago.
What hasn’t changed is that writing a business plan will help you:
- Develop a strategy for success
- Reduce the risk of starting a business
- Explore new business ideas
- Attract investors and get funding
Learn more about how you can get value out of your business plan .
What is included in this business plan template?
This template includes definitions, guidance, and examples for every business plan component needed to start, fund, and grow your business.
After downloading the full template, you’ll receive instructions on how to fill out each of the following sections.
Executive summary
The brief summary of your business plan introduces everyone to your business, the problem you solve, and what you’re asking from your readers. It’s the first chapter of your business plan and the last thing you write once you have the details from your full plan.
Problem & solution
More than a simple description of your products and services – here you define the problem you’re solving and the value you provide. It’s also your chance to showcase any initial traction that shows you’re on the right track.
Market analysis and target market
A detailed assessment of the market you intend to enter, including the size and value of the market, potential customer segments, and their buying patterns.
Competition
Show that you know who your competitors are, what advantages you have, and how you’re positioning your business to be competitive.
Marketing & sales
Describe how you’ll reach and sell to potential customers with a detailed sales plan and chosen marketing channels.
What makes your business run? Outline the day-to-day workflows and what needs to be set up for your business to deliver a product or service.
Milestones & metrics
Set goals for your business that include the dates and people responsible for accomplishing them. This is what you’ll use to manage responsibilities, track growth, and execute your larger strategy.
Company overview and team
Provide a brief rundown of the legal and structural components of your company, including your history, current team, and gaps you need to fill.
Financial plan
Create well-structured and accurate financial statements to help you pitch to investors, land funding, and achieve long-term success. All without the help of a financial advisor or a degree in accounting.
While not required, this last section of your business plan is a great place to drop in additional documents that support and strengthen the rest of your plan.
How do you write a simple business plan?
If you’re exploring a business idea and don’t plan to pursue funding, then you actually don’t need to write a traditional business plan. Instead, opt for a one-page plan , which is far easier to create but just as effective.
To write a simple one-page business plan, follow the same core sections as a traditional plan. But instead of lengthy paragraphs and multiple pages covering each area of your business, stick with single sentences and bulleted lists.
If a one-page plan sounds like a better option, download our free simple business plan template to get started.
Start your business plan today
Whether you're writing a business plan to validate your business idea, secure funding, or grow your existing business – our template will help you achieve your goals.
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Business plan template FAQ
What file formats are available for this business plan template?
You can download and use this business plan template as a Google Doc, .docx (Microsoft Word), or PDF.
Can you print out this template?
This is a printable business plan template that can be downloaded and printed no matter which format you choose.
Why should you start with a business plan template?
Starting with a good business plan template (like this one) includes everything you need to get started. It helps you organize your thoughts, and provides guidance, instructions, and examples to create an investor-ready and SBA-approved business plan format. It really speeds up the planning process. Oh, and it's 100% free!
Is writing a business plan easy?
Using a business plan template can make writing a business plan easier. Additionally, if you focus on just getting your information down quickly, with the expectation that you'll revisit and revise your plan, you can speed up and simplify the process .
Can someone write your business plan for you?
If you're still struggling to write your business plan even when using a template, you can look into hiring a professional business plan writer. We even have a free resource to help you ask just the right questions to make sure you find the right plan writer.
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Startup Business Plan Template
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About this Template
This Startup Business Plan Template is designed to serve as a structured guide for entrepreneurs and business owners in the early stages of business development. It is created to address the key components of a startup’s trajectory from conception to market entry.
Contents of the Template:
- Executive Summary : Captures the essence of your business, the vision, mission, and the financial highlights.
- Business Description : Details about the industry, the business structure, and unique selling points.
- Market Analysis : In-depth look at the target market, competition, and positioning.
- Marketing Plan : Outlines strategies for branding, advertising, and reaching the target audience.
- Operational Plan : Describes the day-to-day operations, logistical considerations, and technology needs.
- Management & Organization : Details the company’s organizational structure and management team.
- Financial Plan : Provides detailed financial projections, funding requirements, and profitability analysis.
- Appendices : A section for supporting documents that complement the business plan.
Why Use This Template:
- Clarity : Helps to clarify your business ideas and strategies for both internal understanding and external stakeholders.
- Investor Readiness : Equips you with a professional format that is appreciated by investors and banks.
- Strategic Planning : Aids in setting realistic goals and outlines methods to achieve them.
- Risk Management : Assists in identifying potential challenges and formulating contingency plans.
- New Ventures : Entrepreneurs who are in the process of bringing a new product or service to market.
- Funding Acquisition : Startups that require a solid plan to present to potential investors or financial institutions.
- Business Courses : Educational settings where students learn about business planning and development.
- Strategic Pivots : Existing businesses that are looking to reinvent or reposition themselves in the market.
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Best Business Plan Templates for Google Docs
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In today’s highly competitive business environment, crafting a well-structured and detailed business plan is essential for success. The significance of these plans extends beyond mere documentation; they are critical tools for strategic planning, securing funding, and guiding business growth. Realizing this need, Google Docs has become a valuable tool for developing many free business plan templates. These templates are designed to cater to a wide array of business needs, enabling entrepreneurs and business owners to develop comprehensive plans with ease and efficiency.
The beauty of these Google Docs Business Plan Templates lies in their blend of simplicity and effectiveness. They are more than mere placeholders for text; they are thoughtfully designed frameworks that guide users through the essential components of a business plan. From market analysis and financial planning to marketing strategies and operational structures, these templates cover all critical aspects of business planning. This article delves into the best business plan templates available on Google Docs this year, highlighting their unique features and suitability for different business scenarios.
1. One Page Business Plan Template
This concise template is ideal when you need to highlight key points succinctly. It includes a single page where you can list up to five main points, covering areas like company activities, values, market analysis, marketing strategies, and expected rewards.
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2. Marketing Strategy Business Plan Template
The Marketing Strategy Business Plan Template is a comprehensive tool for sculpting your path to success. It includes sections for executive summary, market analysis, and financial planning, providing a detailed framework for crafting an effective marketing strategy.
3. Restaurant Business Plan Template
Tailored for the food and beverage industry, this template is perfect for creating business plans for restaurants, cafes, and other catering establishments. It features sections for establishment name, concept, detailed strategy, and allows for photo and text integration.
4. Simple Business Plan Template
Designed for efficiency and ease of use, this template is ideal for entrepreneurs who need a straightforward and concise business plan. It covers the essentials like business goals, target market, and basic financial planning, making it perfect for small startups or solo entrepreneurs looking for a no-fuss approach to business planning.
5. Lean Business Plan Template
The Lean Business Plan Template is versatile, fitting any business sector. It features a large chart, numbered list for structuring information, a gradient background in blue shades, and a low-key style, with ample space for all the important details.
6. Business Plan Outline Template
This template is designed to make a strong impression on banks and investors for your business. It’s a well-layered template that is fully customizable and easy to edit in MS Word or Pages. It can be downloaded instantly and features business standard fonts to ensure a fully formal plan with carefully crafted summaries and descriptions.
7. Attractive Business Plan Template
This is a visually appealing template designed for creating a detailed business plan. It’s suitable for presenting your business vision and strategy in a professional manner.
8. Editable Trucking Business Plan Template
This template is specifically tailored for outlining a trucking venture. It allows you to seamlessly integrate vital details such as company overview, financial projections, and operational strategies. It’s an editable and comprehensive document that provides a clear roadmap for success in the dynamic transportation industry.
9. Score Business Plan Template
Ideal for small business owners, this template guides you through the process of creating a comprehensive business plan. It includes sections for market analysis, company structure, and financial projections, ensuring a well-rounded and professional plan.
10. Marketing Business Plan Template
This template is designed for marketing professionals and businesses looking to outline their marketing strategies. It features segments for market research, target audience, branding, and a variety of marketing channels, making it a versatile tool for planning.
11. Photography Business Plan Template
Ideal for photographers and photography businesses, this template helps outline your business goals, strategies, and financial forecasts in an organized way.
12. Business Plan Document Template
Suitable for both startups and established businesses, this template helps structure your business vision, market strategies, and financial goals. It’s a key tool for attracting investments and presents data in a clear, understandable format.
13. Trucking Business Plan Template
Designed specifically for the trucking industry, this template guides you in detailing your business objectives, operational strategies, and financial projections.
14. Example Business Plan Template
A perfect starting point for new entrepreneurs, this template provides a standard structure for a business plan with example content. It covers areas like executive summary, market analysis, and operational strategies, offering a solid foundation for customization.
15. Bakery Business Plan Template
Tailored for bakery owners, this template focuses on the unique aspects of running a bakery. It includes sections for menu offerings, supplier details, and bakery-specific marketing strategies, helping bakers craft a targeted business plan.
16. Construction Strategic Business Plan Template
Specially designed for the construction industry, this template helps outline a strategic approach to business planning. It covers project management, resource allocation, and risk assessment, essential for construction businesses.
17. Bar Business Plan Template
This template is perfect for bar owners and entrepreneurs. It includes specialized sections for bar operations, liquor inventory management, and customer engagement strategies, ensuring a comprehensive plan for running a successful bar.
18. Sample Business Plan Template
A general template suitable for various business types. It provides a basic structure with key sections like company overview, market analysis, and financial planning, offering a flexible framework for different business models.
Each of these Google Docs templates offers unique features and layouts suited to different business needs. Whether you’re drafting a concise one-page summary or a detailed marketing strategy, these templates provide the framework to present your ideas clearly and effectively. They simplify the planning process, allowing you to focus more on strategy and less on formatting. With these tools, crafting a compelling and comprehensive business plan has never been easier.
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Google Docs Business Plan Template | Editable Small Business Start Up Workbook | Mono
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★ Use this modern and professionally designed business plan template to grow and elevate your business ★ Writing a business plan is an essential part of growing your business and this template helps to make that process as simple as possible. We have included 17 templates that cover everything from introducing your business, outlining your target market and competitors, to breaking down your business finances, your marketing plan and business roadmap. Concentrate on the content and leave the design to the template! This editable bundle of templates has everything you need to put your business plan together in the most efficient way! Comes with a professional navy blue color theme. ★ BUNDLE INCLUDES ★ ✔ 17 editable business plan templates ✔ Executive Summary ✔ Introduction to your business and a template to outline the problem your business solves ✔ Page to outline your Target Market ✔ Competitor Analysis Templates including SWOT Analysis ✔ Give an overview of the Products and Services you offer ✔ Highlight your Marketing Strategy ✔ Break down your business Finances and projections ✔ Your future Roadmap for the business ✔ *Bonus* text layout pages in case you need to add more content to a particular section of your business plan ★ FEATURES ★ ✔ Available to edit in Google DOCS ✔ Fully EDITABLE! Edit colors, fonts, text and photos to suit you! ✔ Edit on your laptop/tablet or on your phone directly! ✔ Edit with unlimited revisions - use the template over and over again Elevate and grow your business with this Business Plan template!
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Free Small Business Plan Templates and Examples
By Kate Eby | April 27, 2022
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We’ve compiled the most useful collection of free small business plan templates for entrepreneurs, project managers, development teams, investors, and other stakeholders, as well as a list of useful tips for filling out a small business template.
Included on this page, you’ll find a simple small business template and a one-page small business plan template . You can also download a fill-in-the-blank small business plan template , and a sample small business plan template to get started.
Small Business Plan Template
![startup business plan template google docs Small Business Plan Template](https://www.smartsheet.com/sites/default/files/2021-12/IC-Small-Business-Plan-Template_WORD_0.png)
Download Small Business Plan Template Microsoft Word | Adobe PDF | Google Docs
Use this small business plan template to identify trends and demographics in the company overview. Highlight how your product or service uniquely benefits consumers in the offerings section, and note your proposed timeline, milestones, and the key performance metrics (KPIs) you will use to measure your success. This template has all the components of a standard business plan, from the executive summary through financing details.
Small Business Plan Sample Template
![startup business plan template google docs Small Business Plan Sample Template](https://www.smartsheet.com/sites/default/files/2021-12/IC-Small-Business-Plan-Sample-Template_WORD.png)
Download Small Business Plan Sample Microsoft Word | Adobe PDF | Google Docs
Use this small business plan sample template to draft the subsections and headings of the contents of your plan. This template provides editable sample text that shows you how to organize and create a ready-to-be-implemented business plan. This sample template helps remove the guesswork of what to include in a small business plan.
Simple Small Business Plan Template
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Download Simple Small Business Plan Template Microsoft Word | Adobe PDF
Use this streamlined, customizable, simple small business plan template to chart revenue, expenses, and net profit or loss forecasts with sample graphics. Order your small business plan with numbered subsections and list them in a table of contents. Supplement the plan with additional information in the appendix for a complete business plan that you can present to investors.
Small Business Plan Chart Template
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Download Small Business Plan Chart Template Microsoft PowerPoint | Google Slides
Use this small business plan chart template to plan and track month-by-month and annual business planning. The flexible color-coded bar chart simplifies tracking and allows you to customize the plan to meet your needs. Add tasks, track owner status, and adjust the timeline to chart your progress with this dynamic, visually rich small business planning tool.
Small Business Plan Outline Template
![startup business plan template google docs Small Business Plan Outline Template](https://www.smartsheet.com/sites/default/files/2021-12/IC-Small-Business-Plan-Outline-Template_WORD.png)
Download Small Business Plan Outline Template Microsoft Word | Adobe PDF | Google Docs
Use this small business plan outline template to jumpstart a plan for your small business. This template includes the nine essential elements of a traditional business plan, plus a title page, a table of contents, and an appendix to ensure that your document is complete, comprehensive, and in order. Easily simplify or expand the outline to meet your company’s needs.
Printable Small Business Plan Template
![startup business plan template google docs Printable Small Business Plan Template](https://www.smartsheet.com/sites/default/files/2021-12/IC-Printable-Small-Business-Plan-Template_WORD.png)
Download Printable Small Business Plan Template Microsoft Word | Adobe PDF | Google Docs
This print-friendly small business plan template is ideal for presentations to investors and stakeholders. The customizable template includes all the standard, critical business plan elements, and serves as a guide for writing a complete and comprehensive plan. Easily edit and add content to this printable template, so you can focus on executing the small business plan.
Small Business Startup Plan Template
![startup business plan template google docs Small Business Startup Plan Template](https://www.smartsheet.com/sites/default/files/2021-12/IC-Small-Business-Startup-Plan-Template_WORD.png)
Download Small Business Startup Plan Template Microsoft Word | Adobe PDF | Google Docs
Use this small business startup plan template to draft your mission statement and list your keys to business success, in order to persuade investors and inform stakeholders. Customize your startup plan with fillable tables for sales revenue, gross profit margin, and cost of sales projections to secure your business's pricing structure.
Fill-in-the-Blank Small Business Plan Template
![startup business plan template google docs Fill-in-the-Blank Small Business Plan Template](https://www.smartsheet.com/sites/default/files/2020-04/IC-Fill-in-the-Blank-Small-Business-Plan-Template_WORD.png)
Download Fill-in-the-Blank Small Business Plan Template Microsoft Word | Adobe PDF
This small business plan template simplifies the process to help you create a comprehensive, organized business plan. Simply enter original content for the executive summary, company overview, and other sections to customize the plan. This fill-in-the-blank small business plan template helps you to maintain organization and removes the guesswork in order to ensure success.
One Page Small Business Plan Template
![startup business plan template google docs One Page Small Business Plan Template](https://www.smartsheet.com/sites/default/files/2021-12/IC-One-Page-Small-Business-Plan-Template.png)
Download One Page Small Business Plan Template Microsoft Excel | Microsoft Word | Adobe PDF
This one page small business plan template is ideal for quick, simple presentations. Use this template to summarize your business overview, market analysis, marketing, and sales plan, key objectives and success metrics, and milestones timeline. Complete the fillable sections to educate investors and inform stakeholders.
One Page Small Business Plan Example
![startup business plan template google docs One Page Small Business Plan Example](https://www.smartsheet.com/sites/default/files/IC-One-Page-Small-Business-Plan-Example.png)
Download One Page Business Plan Example Microsoft Excel | Microsoft Word | Adobe PDF
This one page small business plan example prompts you to list your vision, mission, product or service, team member names, roles, and relevant experience to promote your small business. Use the market analysis, marketing, sales plan sections to detail how you aim to sell your product or service. This small business plan features fillable tables for key objectives and success metrics. Plus, you’ll find space for your financial cost structure and revenue sources to show how your business will remain profitable.
What Is a Small Business Plan Template?
A small business plan template is a roadmap for defining your business objectives and detailing the operational, financial, and marketing resources required for success. Use a small business plan template to strategize growth, forecast financial needs, and promote investment.
A small business plan template organizes and outlines the content needed to achieve goals for growth and profit, including marketing and sales tactics. As opposed to starting from scratch, using a template makes it easy to organize the information and customize the plan to meet your needs.
A small business plan template includes standard business plan sections, as well as the following sections:
- Executive Summary: Summarize the key points in your small business plan in two pages or less to hold your reader's attention and promote buy-in. Write this section last to capitalize on your understanding of the small business plan.
- Company Overview: Describe the nature of your small business, the industry landscape and trends, demographics, and economic and governmental influences. List your location, product or service, and goals to show what makes your small business unique.
- Problem and Solution: Identify and explain the problem your product or service will solve and its costs. Propose and describe your solution and its benefits. Conclude this section with a summary of the problem and solution.
- Target Market: Identify your small business's target market by researching your product and service to determine the most likely demographic. Explain your target market's motivations for buying your product or service.
- Competition: Note the other competitor product or service offerings, pricing, and company revenues to understand how to outperform your competitors. Detail your small business's competitive advantages, based on research.
- Product or Service Offerings: Describe your product or service, how it benefits your target market, and what makes it unique. Highlight how your product or service will outsell competitors.
- Marketing: Detail your marketing plan with objectives and strategy, including goals, costs, and an action plan. A successful marketing plan reduces costs and boosts your product or service sales.
- Timeline and Metrics: Break down your small business plan into smaller activities. Describe these activities (and the performance metrics you intend to use to track them) and list a completion date for each.
- Financial Forecasts: Explain how your organization uses past performance and market research to inform your business's economic forecasts. Estimate growth and profits based on your informed assumptions.
- Financing: List your funding sources and how you intend to use the funds to keep your company on track as it grows. Smart financing at the planning stage prepares your organization for unexpected challenges and helps to mitigate risk.
A small business plan template enables you to complete your business plan quickly and comprehensively, so you can achieve your goals and turn your product or service idea into a profitable reality.
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Free Business Plan Template for Small Businesses (2024)
Use this free business plan template to write your business plan quickly and efficiently.
![startup business plan template google docs A stack of books against a gradient background](https://cdn.shopify.com/s/files/1/0070/7032/files/business_20plan_20template.jpg?v=1687892850)
A good business plan is essential to successfully starting your business — and the easiest way to simplify the work of writing a business plan is to start with a business plan template.
You’re already investing time and energy in refining your business model and planning your launch—there’s no need to reinvent the wheel when it comes to writing a business plan. Instead, to help build a complete and effective plan, lean on time-tested structures created by other entrepreneurs and startups.
Ahead, learn what it takes to create a solid business plan and download Shopify's free business plan template to get started on your dream today.
What this free business plan template includes
- Executive summary
- Company overview
- Products or services offered
- Market analysis
- Marketing plan
- Logistics and operations plan
- Financial plan
This business plan outline is designed to ensure you’re thinking through all of the important facets of starting a new business. It’s intended to help new business owners and entrepreneurs consider the full scope of running a business and identify functional areas they may not have considered or where they may need to level up their skills as they grow.
That said, it may not include the specific details or structure preferred by a potential investor or lender. If your goal with a business plan is to secure funding , check with your target organizations—typically banks or investors—to see if they have business plan templates you can follow to maximize your chances of success.
Our free business plan template includes seven key elements typically found in the traditional business plan format:
1. Executive summary
This is a one-page summary of your whole plan, typically written after the rest of the plan is completed. The description section of your executive summary will also cover your management team, business objectives and strategy, and other background information about the brand.
2. Company overview
This section of your business plan will answer two fundamental questions: “Who are you?” and “What do you plan to do?” Answering these questions clarifies why your company exists, what sets it apart from others, and why it’s a good investment opportunity. This section will detail the reasons for your business’s existence, its goals, and its guiding principles.
3. Products or services offered
What you sell and the most important features of your products or services. It also includes any plans for intellectual property, like patent filings or copyright. If you do market research for new product lines, it will show up in this section of your business plan.
4. Market analysis
This section includes everything from estimated market size to your target markets and competitive advantage. It’ll include a competitive analysis of your industry to address competitors’ strengths and weaknesses. Market research is an important part of ensuring you have a viable idea.
5. Marketing plan
How you intend to get the word out about your business, and what strategic decisions you’ve made about things like your pricing strategy. It also covers potential customers’ demographics, your sales plan, and your metrics and milestones for success.
6. Logistics and operations plan
Everything that needs to happen to turn your raw materials into products and get them into the hands of your customers.
7. Financial plan
It’s important to include a look at your financial projections, including both revenue and expense projections. This section includes templates for three key financial statements: an income statement, a balance sheet, and a cash-flow statement . You can also include whether or not you need a business loan and how much you’ll need.
Business plan examples
What do financial projections look like on paper? How do you write an executive summary? What should your company description include? Business plan examples can help answer some of these questions and transform your business idea into an actionable plan.
Professional business plan example
Inside our template, we’ve filled out a sample business plan featuring a fictional ecommerce business .
The sample is set up to help you get a sense of each section and understand how they apply to the planning and evaluation stages of a business plan. If you’re looking for funding, this example won’t be a complete or formal look at business plans, but it will give you a great place to start and notes about where to expand.
![startup business plan template google docs Example text in a business plan company overview section](https://cdn.shopify.com/s/files/1/0070/7032/files/business-plan-example-1.png?v=1687893032)
Lean business plan example
A lean business plan format is a shortened version of your more detailed business plan. It’s helpful when modifying your plan for a specific audience, like investors or new hires.
Also known as a one-page business plan, it includes only the most important, need-to-know information, such as:
- Company description
- Key members of your team
- Customer segments
💡 Tip: For a step-by-step guide to creating a lean business plan (including a sample business plan), read our guide on how to create a lean business plan .
![startup business plan template google docs Example text in a business plan's marketing plan section](https://cdn.shopify.com/s/files/1/0070/7032/files/business-plan-example-2.png?v=1687893075)
Benefits of writing a solid business plan
It’s tempting to dive right into execution when you’re excited about a new business or side project, but taking the time to write a thorough business plan and get your thoughts on paper allows you to do a number of beneficial things:
- Test the viability of your business idea. Whether you’ve got one business idea or many, business plans can make an idea more tangible, helping you see if it’s truly viable and ensure you’ve found a target market.
- Plan for your next phase. Whether your goal is to start a new business or scale an existing business to the next level, a business plan can help you understand what needs to happen and identify gaps to address.
- Clarify marketing strategy, goals, and tactics. Writing a business plan can show you the actionable next steps to take on a big, abstract idea. It can also help you narrow your strategy and identify clear-cut tactics that will support it.
- Scope the necessary work. Without a concrete plan, cost overruns and delays are all but certain. A business plan can help you see the full scope of work to be done and adjust your investment of time and money accordingly.
- Hire and build partnerships. When you need buy-in from potential employees and business partners, especially in the early stages of your business, a clearly written business plan is one of the best tools at your disposal. A business plan provides a refined look at your goals for the business, letting partners judge for themselves whether or not they agree with your vision.
- Secure funds. Seeking financing for your business—whether from venture capital, financial institutions, or Shopify Capital —is one of the most common reasons to create a business plan.
Why you should you use a template for a business plan
A business plan can be as informal or formal as your situation calls for, but even if you’re a fan of the back-of-the-napkin approach to planning, there are some key benefits to starting your plan from an existing outline or simple business plan template.
No blank-page paralysis
A blank page can be intimidating to even the most seasoned writers. Using an established business planning process and template can help you get past the inertia of starting your business plan, and it allows you to skip the work of building an outline from scratch. You can always adjust a template to suit your needs.
Guidance on what to include in each section
If you’ve never sat through a business class, you might never have created a SWOT analysis or financial projections. Templates that offer guidance—in plain language—about how to fill in each section can help you navigate sometimes-daunting business jargon and create a complete and effective plan.
Knowing you’ve considered every section
In some cases, you may not need to complete every section of a startup business plan template, but its initial structure shows you you’re choosing to omit a section as opposed to forgetting to include it in the first place.
Tips for creating a successful business plan
There are some high-level strategic guidelines beyond the advice included in this free business plan template that can help you write an effective, complete plan while minimizing busywork.
Understand the audience for your plan
If you’re writing a business plan for yourself in order to get clarity on your ideas and your industry as a whole, you may not need to include the same level of detail or polish you would with a business plan you want to send to potential investors. Knowing who will read your plan will help you decide how much time to spend on it.
Know your goals
Understanding the goals of your plan can help you set the right scope. If your goal is to use the plan as a roadmap for growth, you may invest more time in it than if your goal is to understand the competitive landscape of a new industry.
![](http://omraadeinfo.online/777/templates/cheerup1/res/banner1.gif)
Take it step by step
Writing a 10- to 15-page document can feel daunting, so try to tackle one section at a time. Select a couple of sections you feel most confident writing and start there—you can start on the next few sections once those are complete. Jot down bullet-point notes in each section before you start writing to organize your thoughts and streamline the writing process.
Maximize your business planning efforts
Planning is key to the financial success of any type of business , whether you’re a startup, non-profit, or corporation.
To make sure your efforts are focused on the highest-value parts of your own business planning, like clarifying your goals, setting a strategy, and understanding the target market and competitive landscape, lean on a business plan outline to handle the structure and format for you. Even if you eventually omit sections, you’ll save yourself time and energy by starting with a framework already in place.
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Business plan template FAQ
What is the purpose of a business plan.
The purpose of your business plan is to describe a new business opportunity or an existing one. It clarifies the business strategy, marketing plan, financial forecasts, potential providers, and more information about the company.
How do I write a simple business plan?
- Choose a business plan format, such as a traditional or a one-page business plan.
- Find a business plan template.
- Read through a business plan sample.
- Fill in the sections of your business plan.
What is the best business plan template?
If you need help writing a business plan, Shopify’s template is one of the most beginner-friendly options you’ll find. It’s comprehensive, well-written, and helps you fill out every section.
What are the 5 essential parts of a business plan?
The five essential parts of a traditional business plan include:
- Executive summary: This is a brief overview of the business plan, summarizing the key points and highlighting the main points of the plan.
- Business description: This section outlines the business concept and how it will be executed.
- Market analysis: This section provides an in-depth look at the target market and how the business will compete in the marketplace.
- Financial plan: This section details the financial projections for the business, including sales forecasts, capital requirements, and a break-even analysis.
- Management and organization: This section describes the management team and the organizational structure of the business.
Are there any free business plan templates?
There are several free templates for business plans for small business owners available online, including Shopify’s own version. Download a copy for your business.
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Legal Templates
Home Business Business Plan
Business Plan Templates
Use our template to make an investment-worthy business plan.
![startup business plan template google docs business plan template](https://legaltemplates.net/wp-content/uploads/business-plan-template-297x420.webp)
Updated December 8, 2023 Written by Sara Hostelley | Reviewed by Brooke Davis
A business plan is a document outlining a company’s operations, strategies, goals, and objectives. It’s crucial to guide you through each stage of starting and growing your business.
Templates (8)
What is a business plan, why is a business plan essential, components of a business plan, how to write a business plan, business plan sample.
Below, you can find free business plan templates for specific business types. You can also find more in-depth information on writing a plan for your business, whether it’s a food truck, restaurant, real estate business, or another entity:
![startup business plan template google docs business plan screenshot](https://legaltemplates.net/wp-content/uploads/business-plan-screenshot-min-200x260.webp)
Create a detailed plan that lays out the details of how your business will achieve it's objectives.
Traditional Business Plan
![startup business plan template google docs One-Page Business Plan Template](https://legaltemplates.net/wp-content/uploads/one-page-business-screenshot-min-200x260.webp)
Create a simplified version of a traditional business plan.
One-Page Business Plan
![startup business plan template google docs Non-profit business plan screenshot](https://legaltemplates.net/wp-content/uploads/Nonprofit-business-Plan_download-friendly-min-200x260.webp)
Create a Non-Profit Business Plan and learn how to write one.
![startup business plan template google docs Daycare business plan screenshot](https://legaltemplates.net/wp-content/uploads/Daycare-business-Plan_download-friendly-min-200x260.webp)
Create a Daycare Business Plan and learn how to write one.
![startup business plan template google docs Restaurant business plan screenshot](https://legaltemplates.net/wp-content/uploads/Restaurant-business-Plan_download-friendly.doc-560-min-200x260.webp)
Create a Restaurant Business Plan and learn how to write one.
![startup business plan template google docs Real estate business plan screenshot](https://legaltemplates.net/wp-content/uploads/Real-estate-business-Plan_download-friendly-min-200x260.webp)
Create a Real Estate Business Plan and learn how to write one.
Real Estate
![startup business plan template google docs Food truck business plan screenshot](https://legaltemplates.net/wp-content/uploads/Food-truck-business-Plan_download-friendly-min-200x260.webp)
Create a Food Truck Business Plan and learn how to write one.
A business plan is a document detailing how a business, whether it’s a new or existing company, will achieve its goals and objectives. It guides you through every step of starting and running a company.
A business plan can be the foundation of your business, serving as a written roadmap that covers all aspects of how to structure, run, and grow your business. You can also refer back to it as your business progresses to track its growth and success.
In addition to being a helpful document internally, a business plan is also vital for a company to communicate its success to external parties that may influence its future success.
Consider some of the main reasons why large and small business owners alike use business plans:
1. Use As a Roadmap
A business plan sets specific, measurable, and time-bound goals. Having these goals helps you track progress, evaluate performance, and adjust as necessary.
By laying out goals, you have a clear and attainable plan of action with the ability to see and monitor your progress.
2. Plan Strategies For Potential Challenges
A business plan can help you think objectively about your business’s key elements and inform your decision-making as you move forward.
A detailed plan can provide a semblance of control over a potentially cumbersome process. Formulating a plan can improve your ability to make choices and decisions for yourself and the business. This approach is much better than suddenly making a critical decision without time to evaluate or haphazardly letting others decide for you.
3. Get Funding or Bring on New Business Partners
An accurate business plan is essential whether or not you need to secure a business loan. Investors and lenders often require a business plan before they commit capital. A solid plan demonstrates your commitment, viability, and potential return on investment.
Create a business plan that grabs the attention of potential investors and provides them with enough structure and confidence that they will move forward and grant funding and support to your business.
You can use your business plan to highlight how the proposed business will be successful and profitable.
4. Discover Any Weaknesses
A business plan includes a strengths, weaknesses, opportunities, and threats (SWOT) analysis that helps identify potential risks and challenges. It is essential to allocate resources and demonstrate monthly profit or loss. By recognizing these elements early, you can develop strategies to mitigate or address them.
5. Analyze the Market and Competition
Market research within the plan helps you better understand your target audience, competition, and industry trends. This knowledge is crucial for making informed business decisions.
By learning about your competition, you can help make your goods or services stand out and help validate your business idea.
You should update a business plan as you go, altering your goals as necessary and being mindful of any changes of direction in your business.
A typical business plan includes the following sections:
- Executive Summary
- Management Team
- Products and Services
- Customers and Marketing
- SWOT Analysis
Our business plan template includes all of the above, so you won’t have to worry about missing out on essential sections.
Step 1 – Create an Executive Summary
An executive summary is the first section of a traditional business plan, serving as the first impression of your business. Please give a brief overview of your company, including its mission, key goals, and a snapshot of your financial projections.
You can skip this step if you’re writing a lean business plan for a startup. Instead, replace it with a few sentences outlining the problem your startup aims to solve and the solution you will provide.
Executive Summary Example:
Market research indicates there are a growing number of dog owners in Tallahassee who want to train their animals. Consumer surveys indicate that most consumers don’t have the time or resources to train their animals themselves.
Consumers have also expressed a desire for combined dog walking and training services to help discipline their animals.
Pawsitive Strides Canine Coaching & Walks provides a convenient service for customers with furry friends and disposable incomes.
Tips for Writing an Executive Summary
- Define a problem in your market and state how your business will solve it.
- Limit your executive summary to one page.
- Use a tone appropriate for your audience.
Step 2 – Describe Your Company’s Team
A professional business plan will include a statement about your company’s team and management.
Describe your startup’s legal structure. After that, you can insert a chart to show the hierarchical structure of your company. Show and name your C-suite executives, management team, and key employees. Include short biographies and links to their resumes and LinkedIn profiles to give the reader a complete picture of your staff’s qualifications.
If you have a smaller staff, you can highlight the founder and CEO and your staff members who perform the services or create your business’s products.
Example for Company’s Team Statement:
Jamie Clayton, Founder and CEO
- Board-certified veterinarian.
Pawsitive Strides Canine Coaching & Walks’s dog walkers and trainers
- 14 full-time staff members.
- 26 part-time staff members.
- All staff members have the Certified Professional Dog Trainer-Knowledge and Skills Assessed (CPDT-KSA) credential from the Certification Council for Professional Dog Trainers.
Tips for Writing about Your Company Management and Team
- Include any roles you’d like to hire to grow your company, if applicable.
- Highlight expertise and awards one to show your staff’s capabilities.
Step 3 – Summarize Market Analysis and Potential
Your business plan must also thoroughly analyze your target market and customer base. The goal here is to show that you understand your market and target audience and that there is a viable market for your business.
Market Analysis Example:
Pawsitive Strides Canine Coaching & Walks’s ideal customer is a dog owner between the ages of 25 and 65 with a high disposable income. They’re ideally a working professional or have recently retired from the workplace. They love their dog (or dogs) and want them to be well-behaved and have an outlet for all their energy.
Market research shows that Pawsitive Strides Canine Coaching & Walks has ample opportunities in the Tallahassee area:
- The total revenue for dog walking services in the U.S. increased from $900 million in 2019 to $1.1 billion in 2023.
- Dog ownership has increased by 20% over the last five years.
- Online search volume for “dog walkers in Tallahassee” is up by 10% since last year.
- 19% of Tallahassee’s residents have a household income of $125,000 or more (compared to the average of 5% across the U.S.).
Tips for Writing a Market Analysis
- Use reliable sources for acquiring data.
- Conduct consumer surveys to hear from people in your target area.
- Focus on the demand in your area and the growth potential.
- Include revenue and expense projections based on market data.
Step 4 – Describe Your Product or Service
Describe the products and services you offer. Pinpoint the value they provide to current and future customers and share your plans for research and development.
The main goal of this section is to convince the reader and yourself that your business is viable and that you have enough resources, time, and energy to achieve your goals.
Product Description Example:
Pawsitive Strides Canine Coaching & Walks isn’t an ordinary dog walking service. When a customer signs up for our monthly subscription plan, we have one of our certified dog walkers go to their house 12 times a month on a schedule that works for them.
Our dog walker takes their dog on a 30-minute walk and corrects their behavior. Their dog learns how to walk on a leash calmly and be around cars and people. Not only does the dog get some exercise and fresh air, but they also learn discipline, meaning the customer doesn’t have to worry about training their dog in this sense.
Tips for Writing a Product/Service Description
- Highlight cross-sell and upsell opportunities, if applicable.
- Emphasize what distinguishes you from other companies providing similar services/products.
- Include details for updating your offerings in the future.
Step 5 – Plan Your Marketing Strategy
Discuss the brand vision you want to cultivate, the metrics you’ll track, and the channels you’ll use to reach your target audience. Outlining how you plan to collect and retain customers will help you experience growth in the long term.
Marketing Strategy Example:
Pawsitive Strides Canine Coaching & Walks will focus on social media and direct mail marketing as its two main forms of advertising. We’ll track customer referrals to determine how many current customers are satisfied with our services.
On our social media platforms, including Instagram and Facebook, we’ll track our audience growth rate, bounce rate, and click-through rate.
Tips for Writing a Marketing Strategy
- Add the budget/resources you have, if applicable.
- Create strategies for marketing to different segments within your main target audience.
Step 6 – Conduct SWOT Analysis
Organizations use SWOT analyses to determine how closely a business will adhere to its growth trajectories. This analysis involves looking at a company’s SWOTs, which are:
- Strengths: Strengths are things your company does well. Examples include having a unique selling proposition, standout brandings, or human resources, like your employees and C-class executives.
- Weaknesses: These barriers prevent your project or company from reaching certain milestones. Examples include financial limitations, a shortage of skilled professionals, and unclear selling propositions.
- Opportunities: These positive external factors could give you a competitive edge. For instance, if you’re a manufacturer and the federal government cuts tariffs, you can export your products into a new market to boost market share and sales.
- Threats: These are events, competitors, and situations that pose a risk to your company and the goals you’ve set for it. Typical threats include negative media coverage, changing customer demands, emerging competitors, and new rules and regulations.
SWOT Analysis Example:
- Appeals to people who don’t have the time or resources to train their pets.
- Low startup costs.
- Finding enough certified employees to meet the anticipated demand.
- Dealing with aggressive animals may be challenging for newer employees.
Opportunities
- Offering multiple subscription packages for customers who want more frequent training sessions for their pets.
- BehaviorBuddies is a dog walking service in Bradfordville that may take away customers.
Tips for Writing a SWOT Analysis
- Be honest with your business’s weaknesses and threats.
- Capitalize on opportunities you find through market analysis.
Step 7 – Develop a Strategy for Operations
Your business plan needs to include a thorough operations plan. This section reveals your manufacturing, fulfillment, managing, staffing, hiring strategies, and all the other processes you go through when running your business daily.
Operations Strategy Example:
Jamie Clayton will oversee the hiring of all employees, and the team lead will train all employees for at least one month to ensure they have the knowledge necessary to deal with animals of all temperaments.
The team lead will also organize the dog walking schedule to ensure all team members have enough time to arrive at customers’ houses and complete the dog walking/training sessions thoroughly.
Tips for Writing a Business Strategy
- Consider what your business needs to thrive on a daily basis.
- Account for inventory and supplies, even if your business is service-based.
Step 8 – Compile Your Business Financials
Create financial projections, including income statements, balance sheets, and cash flow statements for the first few years of operation. If you need funding, specify the amount and how you plan to use it.
Financial Statement Example:
Income Statement for the Year Ended December 31, 2023
- Revenue: $150,000
- Cost of Goods Sold: $30,000
- Gross Profit: $120,000
- Operating Expenses: $80,000
- Net Operating Income: $40,000
- Other Income/Expenses: -$2,000
- Net Income: $38,000
Tips for Writing a Financial Section
- Double-check the accuracy of financial information.
- Demonstrate how the proposed funding aligns with your company’s goals.
- Forecast future financial performance.
Step 9 – Explain Your Funding Request
If you’re seeking funding or investment for your business, explain the amount you need and how you intend to use it. Be transparent about the terms you’re offering to investors or lenders.
Funding Request Example:
Pawsitive Strides Canine Coaching & Walks has already hired a team to serve our existing customers. Once we scale to $500,000 in annual revenue over the next two years and at a 10% profit margin, our primary ongoing annual expenses (not including taxes) will total $350,000.
While already profitable, we are requesting $200,000 in the form of a business loan to buy two additional company vehicles. These vehicles will improve our employees’ ability to get to customers’ homes, and the remaining money will go toward maintaining current company vehicles.
Tips for Writing a Funding Request
- Add a timeline so investors know your goals and how you plan to use the money.
- If you seek funding in the form of an exchange for equity, an investor may expect to gain decision-making powers in your company. Plan for this situation accordingly.
Step 10 – Compile an Appendix for Official Documents
Include relevant documents, such as resumes of key team members, legal agreements, market research data, product design mock-ups, and your business’s legal structure documents.
Remember that each business plan is unique, so tailor your content to your venture and audience. Your business plan should effectively communicate your vision, strategy, and financial viability to potential investors, partners, and stakeholders.
Combine the appendix with a table of contents and footnotes section so you can reference it throughout your document.
You can download a free business plan template below in PDF or Word format:
![startup business plan template google docs business plan template](https://legaltemplates.net/wp-content/uploads/business-plan-template-724x1024.png)
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How To Start A Business In 11 Steps (2024 Guide)
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Updated: Apr 7, 2024, 1:44pm
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Table of Contents
Before you begin: get in the right mindset, 1. determine your business concept, 2. research your competitors and market, 3. create your business plan, 4. choose your business structure, 5. register your business and get licenses, 6. get your finances in order, 7. fund your business, 8. apply for business insurance, 9. get the right business tools, 10. market your business, 11. scale your business, what are the best states to start a business, bottom line, frequently asked questions (faqs).
Starting a business is one of the most exciting and rewarding experiences you can have. But where do you begin? There are several ways to approach creating a business, along with many important considerations. To help take the guesswork out of the process and improve your chances of success, follow our comprehensive guide on how to start a business. We’ll walk you through each step of the process, from defining your business idea to registering, launching and growing your business.
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The public often hears about overnight successes because they make for a great headline. However, it’s rarely that simple—they don’t see the years of dreaming, building and positioning before a big public launch. For this reason, remember to focus on your business journey and don’t measure your success against someone else’s.
Consistency Is Key
New business owners tend to feed off their motivation initially but get frustrated when that motivation wanes. This is why it’s essential to create habits and follow routines that power you through when motivation goes away.
Take the Next Step
Some business owners dive in headfirst without looking and make things up as they go along. Then, there are business owners who stay stuck in analysis paralysis and never start. Perhaps you’re a mixture of the two—and that’s right where you need to be. The best way to accomplish any business or personal goal is to write out every possible step it takes to achieve the goal. Then, order those steps by what needs to happen first. Some steps may take minutes while others take a long time. The point is to always take the next step.
Most business advice tells you to monetize what you love, but it misses two other very important elements: it needs to be profitable and something you’re good at. For example, you may love music, but how viable is your business idea if you’re not a great singer or songwriter? Maybe you love making soap and want to open a soap shop in your small town that already has three close by—it won’t be easy to corner the market when you’re creating the same product as other nearby stores.
If you don’t have a firm idea of what your business will entail, ask yourself the following questions:
- What do you love to do?
- What do you hate to do?
- Can you think of something that would make those things easier?
- What are you good at?
- What do others come to you for advice about?
- If you were given ten minutes to give a five-minute speech on any topic, what would it be?
- What’s something you’ve always wanted to do, but lacked resources for?
These questions can lead you to an idea for your business. If you already have an idea, they might help you expand it. Once you have your idea, measure it against whether you’re good at it and if it’s profitable.
Your business idea also doesn’t have to be the next Scrub Daddy or Squatty Potty. Instead, you can take an existing product and improve upon it. You can also sell a digital product so there’s little overhead.
What Kind of Business Should You Start?
Before you choose the type of business to start, there are some key things to consider:
- What type of funding do you have?
- How much time do you have to invest in your business?
- Do you prefer to work from home or at an office or workshop?
- What interests and passions do you have?
- Can you sell information (such as a course), rather than a product?
- What skills or expertise do you have?
- How fast do you need to scale your business?
- What kind of support do you have to start your business?
- Are you partnering with someone else?
- Does the franchise model make more sense to you?
Consider Popular Business Ideas
Not sure what business to start? Consider one of these popular business ideas:
- Start a Franchise
- Start a Blog
- Start an Online Store
- Start a Dropshipping Business
- Start a Cleaning Business
- Start a Bookkeeping Business
- Start a Clothing Business
- Start a Landscaping Business
- Start a Consulting Business
- Start a Photography Business
- Start a Vending Machine Business
Most entrepreneurs spend more time on their products than they do getting to know the competition. If you ever apply for outside funding, the potential lender or partner wants to know: what sets you (or your business idea) apart? If market analysis indicates your product or service is saturated in your area, see if you can think of a different approach. Take housekeeping, for example—rather than general cleaning services, you might specialize in homes with pets or focus on garage cleanups.
Primary Research
The first stage of any competition study is primary research, which entails obtaining data directly from potential customers rather than basing your conclusions on past data. You can use questionnaires, surveys and interviews to learn what consumers want. Surveying friends and family isn’t recommended unless they’re your target market. People who say they’d buy something and people who do are very different. The last thing you want is to take so much stock in what they say, create the product and flop when you try to sell it because all of the people who said they’d buy it don’t because the product isn’t something they’d buy.
Secondary Research
Utilize existing sources of information, such as census data, to gather information when you do secondary research. The current data may be studied, compiled and analyzed in various ways that are appropriate for your needs but it may not be as detailed as primary research.
Conduct a SWOT Analysis
SWOT stands for strengths, weaknesses, opportunities and threats. Conducting a SWOT analysis allows you to look at the facts about how your product or idea might perform if taken to market, and it can also help you make decisions about the direction of your idea. Your business idea might have some weaknesses that you hadn’t considered or there may be some opportunities to improve on a competitor’s product.
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Asking pertinent questions during a SWOT analysis can help you identify and address weaknesses before they tank your new business.
A business plan is a dynamic document that serves as a roadmap for establishing a new business. This document makes it simple for potential investors, financial institutions and company management to understand and absorb. Even if you intend to self-finance, a business plan can help you flesh out your idea and spot potential problems. When writing a well-rounded business plan, include the following sections:
- Executive summary: The executive summary should be the first item in the business plan, but it should be written last. It describes the proposed new business and highlights the goals of the company and the methods to achieve them.
- Company description: The company description covers what problems your product or service solves and why your business or idea is best. For example, maybe your background is in molecular engineering, and you’ve used that background to create a new type of athletic wear—you have the proper credentials to make the best material.
- Market analysis: This section of the business plan analyzes how well a company is positioned against its competitors. The market analysis should include target market, segmentation analysis, market size, growth rate, trends and a competitive environment assessment.
- Organization and structure: Write about the type of business organization you expect, what risk management strategies you propose and who will staff the management team. What are their qualifications? Will your business be a single-member limited liability company (LLC) or a corporation ?
- Mission and goals: This section should contain a brief mission statement and detail what the business wishes to accomplish and the steps to get there. These goals should be SMART (specific, measurable, action-orientated, realistic and time-bound).
- Products or services: This section describes how your business will operate. It includes what products you’ll offer to consumers at the beginning of the business, how they compare to existing competitors, how much your products cost, who will be responsible for creating the products, how you’ll source materials and how much they cost to make.
- Background summary: This portion of the business plan is the most time-consuming to write. Compile and summarize any data, articles and research studies on trends that could positively and negatively affect your business or industry.
- Marketing plan: The marketing plan identifies the characteristics of your product or service, summarizes the SWOT analysis and analyzes competitors. It also discusses how you’ll promote your business, how much money will be spent on marketing and how long the campaign is expected to last.
- Financial plan: The financial plan is perhaps the core of the business plan because, without money, the business will not move forward. Include a proposed budget in your financial plan along with projected financial statements, such as an income statement, a balance sheet and a statement of cash flows. Usually, five years of projected financial statements are acceptable. This section is also where you should include your funding request if you’re looking for outside funding.
Learn more: Download our free simple business plan template .
Come Up With an Exit Strategy
An exit strategy is important for any business that is seeking funding because it outlines how you’ll sell the company or transfer ownership if you decide to retire or move on to other projects. An exit strategy also allows you to get the most value out of your business when it’s time to sell. There are a few different options for exiting a business, and the best option for you depends on your goals and circumstances.
The most common exit strategies are:
- Selling the business to another party
- Passing the business down to family members
- Liquidating the business assets
- Closing the doors and walking away
Develop a Scalable Business Model
As your small business grows, it’s important to have a scalable business model so that you can accommodate additional customers without incurring additional costs. A scalable business model is one that can be replicated easily to serve more customers without a significant increase in expenses.
Some common scalable business models are:
- Subscription-based businesses
- Businesses that sell digital products
- Franchise businesses
- Network marketing businesses
Start Planning for Taxes
One of the most important things to do when starting a small business is to start planning for taxes. Taxes can be complex, and there are several different types of taxes you may be liable for, including income tax, self-employment tax, sales tax and property tax. Depending on the type of business you’re operating, you may also be required to pay other taxes, such as payroll tax or unemployment tax.
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When structuring your business, it’s essential to consider how each structure impacts the amount of taxes you owe, daily operations and whether your personal assets are at risk.
An LLC limits your personal liability for business debts. LLCs can be owned by one or more people or companies and must include a registered agent . These owners are referred to as members.
- LLCs offer liability protection for the owners
- They’re one of the easiest business entities to set up
- You can have a single-member LLC
- You may be required to file additional paperwork with your state on a regular basis
- LLCs can’t issue stock
- You’ll need to pay annual filing fees to your state
Limited Liability Partnership (LLP)
An LLP is similar to an LLC but is typically used for licensed business professionals such as an attorney or accountant. These arrangements require a partnership agreement.
- Partners have limited liability for the debts and actions of the LLP
- LLPs are easy to form and don’t require much paperwork
- There’s no limit to the number of partners in an LLP
- Partners are required to actively take part in the business
- LLPs can’t issue stock
- All partners are personally liable for any malpractice claims against the business
Sole Proprietorship
If you start a solo business, you might consider a sole proprietorship . The company and the owner, for legal and tax purposes, are considered the same. The business owner assumes liability for the business. So, if the business fails, the owner is personally and financially responsible for all business debts.
- Sole proprietorships are easy to form
- There’s no need to file additional paperwork with your state
- You’re in complete control of the business
- You’re personally liable for all business debts
- It can be difficult to raise money for a sole proprietorship
- The business may have a limited lifespan
Corporation
A corporation limits your personal liability for business debts just as an LLC does. A corporation can be taxed as a C corporation (C-corp) or an S corporation (S-corp). S-corp status offers pass-through taxation to small corporations that meet certain IRS requirements. Larger companies and startups hoping to attract venture capital are usually taxed as C-corps.
- Corporations offer liability protection for the owners
- The life span of a corporation is not limited
- A corporation can have an unlimited number of shareholders
- Corporations are subject to double taxation
- They’re more expensive and complicated to set up than other business structures
- The shareholders may have limited liability
Before you decide on a business structure, discuss your situation with a small business accountant and possibly an attorney, as each business type has different tax treatments that could affect your bottom line.
Helpful Resources
- How To Set Up an LLC in 7 Steps
- How To Start a Sole Proprietorship
- How To Start a Corporation
- How To Start a Nonprofit
- How To Start a 501(c)(3)
There are several legal issues to address when starting a business after choosing the business structure. The following is a good checklist of items to consider when establishing your business:
Choose Your Business Name
Make it memorable but not too difficult. Choose the same domain name, if available, to establish your internet presence. A business name cannot be the same as another registered company in your state, nor can it infringe on another trademark or service mark that is already registered with the United States Patent and Trademark Office (USPTO).
Business Name vs. DBA
There are business names, and then there are fictitious business names known as “Doing Business As” or DBA. You may need to file a DBA if you’re operating under a name that’s different from the legal name of your business. For example, “Mike’s Bike Shop” is doing business as “Mike’s Bikes.” The legal name of the business is “Mike’s Bike Shop,” and “Mike’s Bikes” is the DBA.
You may need to file a DBA with your state, county or city government offices. The benefits of a DBA include:
- It can help you open a business bank account under your business name
- A DBA can be used as a “trade name” to brand your products or services
- A DBA can be used to get a business license
Register Your Business and Obtain an EIN
You’ll officially create a corporation, LLC or other business entity by filing forms with your state’s business agency―usually the Secretary of State. As part of this process, you’ll need to choose a registered agent to accept legal documents on behalf of your business. You’ll also pay a filing fee. The state will send you a certificate that you can use to apply for licenses, a tax identification number (TIN) and business bank accounts.
Next, apply for an employer identification number (EIN) . All businesses, other than sole proprietorships with no employees, must have a federal employer identification number. Submit your application to the IRS and you’ll typically receive your number in minutes.
Get Appropriate Licenses and Permits
Legal requirements are determined by your industry and jurisdiction. Most businesses need a mixture of local, state and federal licenses to operate. Check with your local government office (and even an attorney) for licensing information tailored to your area.
- Best LLC Services
- How To Register a Business Name
- How To Register a DBA
- How To Get an EIN for an LLC
- How To Get a Business License
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Open a Business Bank Account
Keep your business and personal finances separate. Here’s how to choose a business checking account —and why separate business accounts are essential. When you open a business bank account, you’ll need to provide your business name and your business tax identification number (EIN). This business bank account can be used for your business transactions, such as paying suppliers or invoicing customers. Most times, a bank will require a separate business bank account to issue a business loan or line of credit.
Hire a Bookkeeper or Get Accounting Software
If you sell a product, you need an inventory function in your accounting software to manage and track inventory. The software should have ledger and journal entries and the ability to generate financial statements.
Some software programs double as bookkeeping tools. These often include features such as check writing and managing receivables and payables. You can also use this software to track your income and expenses, generate invoices, run reports and calculate taxes.
There are many bookkeeping services available that can do all of this for you, and more. These services can be accessed online from any computer or mobile device and often include features such as bank reconciliation and invoicing. Check out the best accounting software for small business, or see if you want to handle the bookkeeping yourself.
Determine Your Break-Even Point
Before you fund your business, you must get an idea of your startup costs. To determine these, make a list of all the physical supplies you need, estimate the cost of any professional services you will require, determine the price of any licenses or permits required to operate and calculate the cost of office space or other real estate. Add in the costs of payroll and benefits, if applicable.
Businesses can take years to turn a profit, so it’s better to overestimate the startup costs and have too much money than too little. Many experts recommend having enough cash on hand to cover six months of operating expenses.
When you know how much you need to get started with your business, you need to know the point at which your business makes money. This figure is your break-even point.
In contrast, the contribution margin = total sales revenue – cost to make product
For example, let’s say you’re starting a small business that sells miniature birdhouses for fairy gardens. You have determined that it will cost you $500 in startup costs. Your variable costs are $0.40 per birdhouse produced, and you sell them for $1.50 each.
Let’s write these out so it’s easy to follow:
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This is a business plan. It does not imply an offering of securities. USE THIS TEMPLATE AS A GUIDE FOR WRITING YOUR BUSINESS PLAN. DELETE ALL ASSIGNMENT INSTRUCTIONS.,BUT KEEP THE WORKSHEETS AND TABLES. RETAIN ALL SUBJECT HEADINGS. THE SECTIONS DO NOT HAVE TO BE LONG AND WORDY, BUT SHOULD ADDRESS THE QUESTIONS. FEEL FREE TO CHANGE THE TEMPLATE.
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Business Plan: YOUR COMPANY NAME DATE ─ Your Names Business Name Address City, State, Zip TABLE OF CONTENTS TABLE OF CONTENTS 1 Confidentiality Agreement 2 I. EXECUTIVE SUMMARY 4 II. COMPANY DESCRIPTION 5 III. Products & Services 8 IV. Marketing Plan 9 SWOT Analysis 15 V. Operational Plan 2...
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