The business plan descriptions are similar for all type of businesses. It may be describing of planning of objectives and goals as sets out period. Actually, there is no value of preparing a business plan for making the finish products. But it is the development for the perfect strategy for your business. Before the preparation of plan, you have to reviews all the segments of the planning. That may be depending upon your type of business such as manufacturing, service sector, retail management etc. Hence, take the time for creating proper plan that may cover all the require functions, and details that needs to incorporate in your planning section at appropriate level.
What is a business plan?
A business plan is a written document that describes a road map that outlines goals and objectives. This formal statement of business goals and objectives to making thoroughly possible to stable business’s future. On completion of plan, you may see the feasibility of a prospective business on initial stages of operations for new business.
Actually, business plan is decision making tool. The plan’s contents may be depending to determines objectives and goals of business. Mean business plan may little different to another such as industrial segments contents and service sector industry may use little different contents in plan. But the soul of business plan will never change. Hence, we try to cover all the require functions and contents which needs to makes a strategic plan for general purpose.
How to write a business plan template?
It is easy to make business plan if you follow some thumb rules for preparation. You have to identify requirement of your business, to assessing information to create effective plan. Naturally there are four basic step of any process cycle, that is plan-do-check-act. You can also use this cycle to implement your plans to complete the cycle process. Actually, the process for making a business plan is very time consuming job, and with lots of efforts and money needs spend for it. Hence, here you the readymade template that may fit your business, because we tried to make it general format that comfort to any kind of industry.
The Business Plan – Examples & Templates
The Key Elements of a business plan template:
- Executive Summary [ Highlights | Objectives | mission statement | key to success]
- Description of business
- Products and Services
- Marketing Analysis
- Management and Organization
- Personal Financial Statement
- Financial Plan
Executive Summary [ Highlights | Objectives | mission statement | key to success]
We suggest that write this section at last, so that it will be easier to summarize the very important informative points from your business. Describe the fundamentals of the organization. Such as product, customers, your visions and future plan etc. Some information which are necessary in executive summary are as below:
- Highlights: You have to describe brief details of key business highlights. Such as you might include a graphs of the key objectives like sales, expenses, net profit, and sales forecast etc., for several years.
- Objectives: Generally, some organizations are making their business plans on based of objectives. That may also correct way to describe timeline of the targets you expecting to achieve in specific time period. Hence, any measurable objectives in middle of business plan can be help to track and measure objective progress will be highly acceptable.
- Mission Statement: This is one of the important point that may needs to include in executive summary. This point will be help to your business mission, that should be clear and transparent for achieving defined goals.
- Key to success: Describe the unique factors, objectives and processes that ensure the business successful. In some cases, you can also explain the challenges that can be possible to terminate in opportunities.
Try to make this segment of the business with brief, but it should be cover all necessary information and sufficient information. The executive summary is important part of the business plan, hence you have to include everything that you would cover in limited time and space.
Description of business
You have to describe the positive and fact information of the business. In this section you can explain fundamental information such as completive products, features etc. Even you can also describe the business’s key objectives and goals with specific time frame.
- Form of ownership: Describe what type of business is? It is sole proprietorship, partnership, corporate type, or limited liability corporation (LLC). If appropriate, describe the business type like service sector, manufacturing, retails or merchandize etc.
- Interior of business: Describe any specific and unique features of your business interior, that you understand that may compete over similar businesses. Even you can brief the process flow, layout that effectively help to increase the sales and quality products.
- Strengths & Core competencies: In the section of the business plan, you can describe the most important strengths and core competencies. The factors that may help to make your business success.
- Future plans: Here you can describe the both the type of plans that may long terms and short terms.
Products and Services
Describe your product and services details in depth information. It may include technical specifications, photos, sales brochures, drawings, special characteristics, and end application requirements. In this section, you should do explain about the factors that giving you advantages & disadvantages.
- Manufacturing: If the business is manufacturing unit, so that you have to describe details of facilities, details of machinery and equipment and special system which are increasing quality.
- Management: It is necessary to details of the basic structure and organizational chart that describes overall views of management system. You have to give the assurance to your customers for best performance from management, once they connect for ordering process. Management system should be transparent and pro-active for each action. Hence, it should be sufficient for give assurance to all customers.
In the section of this business plan, you can describe the details of the specific features that gives benefit to customers. Level of quality, unique features, potential markets, etc. can also merge in section.
It is extremely important to analyze the market to know as much about customers. Their needs, expectations and technical requirements of end application may help to lead the market. The key elements of the market analysis are target markets, demographics, customer volume, innovation. Hence, it is necessary to market research and analysis must focused on those points which may increase the sales growth. You have to analyze the percentage of the market already capture and your growth rate in the market. See the example below:
- Market segment: Describe your target market segment in this section of business plan. Mention clearly your competitors, quality, prices of products. It is also important for the market analysis, you have to describe the details with geographical area, product and pricing with criteria.
- Competition: Brief description about all the competitors, percentage of the market shares, competitors’ strengths and weaknesses, general information about competitors, and how the handling the market.
- Marketing strategy: Detailed information of the marketing strategy such as advertisements, promotion, Promotional Budget, pricing, locality, distribution channels etc. in this section. Generally, customers can ask about the marketing strategy, and commitments for the quality of product. Hence, what type of advertisement campaigns, contents of advertisement and how much budgeting for promotions are does matter.
Management and Organization
Describe the detailed information of the business regular tasks and personnel responsibilities for particular task. Organizational chart with management hierarchy is best technique to explain it. Details of all the professional and advisory support personnel such as board of directors, management representative, accountant, consultants etc. In this section you can explain the plan for continuation of the business, and how the management is committed to the customers for product and quality.
Personal Financial Statement
Sometime business owners need to describe their personal assets to show the financial stability. So, the it will be help to build the reputation in the market and easier for attract bankers and investors. Even they can ask to owner to consign or personally guarantee any business loan. Hence, it is important to document special financial situation with all require information.
Generally, first financial plan consists of 12 months’ projections of:
- Profit and loss projection
- Cash flow projection
- Projected balance sheet
- Break even analysis
Later on, every financial plan may consist annual projections for about 3 to 5 years. Mostly, three years’ projects are more recommended and that will be typically adequate, but some bankers or investors may ask for five years’ projections.
Business Plan Templates
Business plan templates are providing a framework to enable systematic planning for your business. You can cover all the important key elements which directly concern with your business growth. Here you can see the readymade templates that are specifically designed for general purpose. Hence, you can modify the information as aspect of your business. The templates will save your time and money which is much important when you have more important works. Following some example templates are given for your business needs:
Business plan template (Short and long term plans)
This is simple business plan template covering short and long term plan for the business. Even in this template, you can manage quarterly plan for particular year. This is one of the simple and short business plan template which able to manage objective based planning. Hence, small scale, medium scale and retails businesses can manage their plan with enough functions. A simple business plan template may include key elements such as executive summary, business overview, product and services, financial management and reviews of market.
Simple Business template plan free – Word & Excel Format
Actually, this template is focus on the marketing, sales and quality objectives. The template may cover the quality objective and its monitoring, as well as sales and marketing factors. Even, you can also include the financial projections such as balance sheet, investments and capital, sales forecast and profit and loss projection details. Simply, with this template you can monitor your business key objectives and quality objectives.
Business plan financial projection template (Excel / Word / PDF format)
Simply as you can see the title of this template is business plan financial projection template. It is obvious that the template may cover the deep information of the business plan that covered overall functions of financial projections. Actually, the template may helpful for the small as well as medium scale businesses also. You have to just verify the information, add or remove some features that is related to you. The template may help to analyze the financial system, market shares, financial growth. Hence, this may very useful for the business when you just focus on financial projections.
Small business plan template
Typically, every business expecting from template should describe overall business functions. hence, there is no require any technical or high skill for making a business plan. Simply, standard format which cover all the points needs for explain overall business sides. This template is one of the simple and very useful for small businesses. Business owner can describe all the details which as generally customers, bankers, investors are asking for knowledge.