business plan for ict

IT Services Business Plan Template

Written by Dave Lavinsky

IT Services Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their IT companies.

If you’re unfamiliar with creating an IT business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

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

Download our Ultimate Business Plan Template here >

What Is a Business Plan?

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

Why You Need a Business Plan

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

Sources of Funding for IT Businesses

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

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How to write a business plan for an it services business.

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

Executive Summary

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

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

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

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

Company Overview

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

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

• Computer repair: This type of IT business provides computer maintenance and repair services.
• Computer training: This type of IT professional specializes in teaching others how to use computers as well as various software and computer programs.
• IT support: This type of IT professional provides services for businesses such as setting up a network, backing up data, and systems management.
• Cloud computing: This type of IT specialist helps individuals and businesses establish cloud platforms and tools, or may help to migrate their information to the cloud.

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

Include answers to questions such as:

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

Industry Analysis

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

While this may seem unnecessary, it serves multiple purposes.

First, researching the IT industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

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

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

Customer Analysis

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

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

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

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

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

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Competitive Analysis

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

Direct competitors are other IT businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes other types of IT consultants, in-house IT support, or do-it-yourself IT tutorials. You need to mention such competition as well.

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

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

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

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

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

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

Marketing Plan

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

Product : In the product section, you should reiterate the type of IT company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide cloud computing, data center management, or network setup services?

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

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

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

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

Operations Plan

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

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

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

Management Team

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

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

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

Financial Plan

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

Income Statement

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

In developing your income statement, you need to devise assumptions. For example, will you charge your clients an hourly rate of $250 per hour, and will you work 5 hours per day? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

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

Cash Flow Statement

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

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

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

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

Writing a business plan for your IT business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert on IT business planning. You will understand the IT industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful IT business.

IT Business Plan FAQs

What is the easiest way to complete my it services business plan.

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

How Do You Start an IT Services Business?

Starting an IT business is easy with these 14 steps:

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

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

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s business plan services can give you a winning business plan.  

Other Helpful Business Plan Articles & Templates

Technology Business Plan Template

Written by Dave Lavinsky

Technology Business Plan

You’ve come to the right place to create your own Technology business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Technology businesses.

Technology Business Plan Example & Template

Below is a Technology business plan template and sample to help you create each section of your own business plan.

Executive Summary

Business overview.

Kearney Tech Inc., located in Houston, Texas is a tech startup that focuses on developing and commercializing new artificial intelligence (AI) technology applications designed for small-to-medium sized businesses. The company has created proprietary technology that helps businesses improve their profitability by using AI to increase customer engagement. We offer multiple products, including AI hardware, marketing AI software, and CRM AI software. Many of our most basic services are free, but the rest can be accessed by paying a subscription fee. By providing flexible and affordable subscription options for our clients, Kearney Tech Inc. aims to be the next big technology company in the AI space for small and medium-sized businesses.

Kearney Tech Inc. was founded and is led by Abigail Kearney. Abigail has been a senior software engineer for nearly 10 years and has extensive experience in artificial intelligence and machine learning. In addition to her experience, she has a bachelor’s degree in computer science and an MBA. Her education and experience are sure to lead Kearney Tech Inc. to success.

Product Offering

Kearney Tech Inc. will showcase a variety of different applications for its AI technology that companies can utilize to increase their customer engagement from day one. Businesses can choose the platform package that works for them, based on a freemium subscription pricing structure.

The following are the services that Kearney Tech Inc. will provide:

• AI Hardware
• Marketing AI Software
• Customer Relationship Management AI Software
• Customer Support AI Software
• Technology Training: Training sessions on how to use our AI solutions and integrate them into their businesses

Customer Focus

Kearney Tech Inc. will serve small to medium-sized businesses within a 30-mile radius of Houston, Texas. Many of the businesses in our target demographic are startups looking to expand their reach and thus would benefit from technology that can increase their customer base.

Management Team

Kearney Tech Inc. will also employ an experienced assistant to work as a business analyst and help with various administrative duties around the office. She will also hire several developers, salesmen, and other administrative staff to assist her.

Success Factors

Kearney Tech Inc. will be able to achieve success by offering the following competitive advantages:

• Management: Abigail Kearney has been extremely successful working in the technology industry and will be able to use her previous experience to provide the best service experience. Her unique qualifications will serve customers in a much more sophisticated manner than Kearney Tech Inc.’s competitors.
• Relationships: Abigail Kearney knows many of the local leaders, business managers, and other influencers within Houston, Texas. With her 10 years of experience and good relationships with business leaders in the area, she will be able to develop an initial client base.
• Proprietary technology : The company has developed proprietary AI technology that will be used to add new data sources, expand on valuable insights, launch advanced features like benchmarking, provide predictive and prescriptive analytics, and ensure self-guided data discovery.
• Client-oriented service: Kearney Tech Inc. will have full-time customer service and sales managers to keep in contact with clients and answer their everyday questions.

Financial Highlights

Kearney Tech Inc. is seeking a total funding of $400,000 of debt capital to open its office. The funding will be dedicated to office design, software development, marketing, and working capital. Specifically, these funds will be used as follows:

• Office design/build: $50,000
• Software development: $150,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $25,000
• Working capital: $25,000

The following graph below outlines the pro forma financial projections for Kearney Tech Inc.:

Company Overview

Who is kearney tech inc..

Abigail began researching what it would take to create her own technology company and did a thorough analysis of the costs, market, demographics, and competition. Abigail has compiled enough information to develop her business plan in order to approach investors.

Kearney Tech Inc.’s History

Once her market analysis was complete, Abigail Kearney began surveying the local vacant office space and located an ideal location to house the technology company. Abigail Kearney incorporated Kearney Tech Inc. as a Limited Liability Corporation in April 2023.

Since incorporation, the company has achieved the following milestones:

• Located available office space for rent
• Developed the company’s name, logo, and website
• Determined equipment and necessary supplies
• Began recruiting key employees

Kearney Tech Inc. Services

Industry analysis.

As of 2021, the global technology industry was valued at approximately $5.2T. Of all countries worldwide, the United States currently has the largest technology market, with 32% of the market share at $1.7T. The technology industry in the U.S. accounts for a large part of the nation’s economy.

The Information Technology market can be segmented by categories such as software, devices, infrastructure IT and business services, emerging technology, and telecom services. In the United States, IT and business services hold the greatest market share (30%), followed by software (20%) and telecom services (20%).

Market drivers include the economy, employment rates, and the digital transformation of daily life for a growing number of people and businesses worldwide. Corporations and organizations are seeking IT service providers that can help improve their software, cybersecurity, data, and infrastructure. Technology companies that can provide products and services that cater to these issues can be competitive in the constantly evolving market.

Technology is an integral part of society. Developments in AI and machine learning are essential to keep society moving forward and make businesses more efficient. Therefore, businesses will always be in need of AI solutions to bring in more customers and streamline their services and products. According to Market Watch, the Technology industry is set to grow at a CAGR of 25.73% from now until 2027. Very few industries see this growth, which shows how much demand there is for technological solutions. Therefore, we expect Kearney Tech Inc. to see great success in our local market.

Customer Analysis

Demographic profile of target market.

Kearney Tech Inc. will serve the small and medium-sized businesses of Houston, Texas, and the surrounding areas.

Many small businesses in the community are startups or established enterprises looking to expand their reach and thus would benefit from technology that can increase their customer engagement.

Customer Segmentation

Kearney Tech Inc. will primarily target the following customer profiles:

• Small businesses
• Medium-sized businesses

Competitive Analysis

Direct and indirect competitors.

Kearney Tech Inc. will face competition from other companies with similar business profiles. A description of each competitor company is below.  

Tekuserv has been a reliable technology company in Houston, Texas for more than fifteen years. The company is known for its wide range of technology solutions that serve many small-to-medium-sized businesses. With its large number of experts focused on delivering customer satisfaction, the organization maintains its high standard of developing quality products and providing exceptional customer service. Tekuserv provides business software on a freemium subscription basis. It develops enterprise technology solutions with a focus on customer relationship management.  

Prime AI Business Solutions

Prime AI Business Solutions is a technology development company in Houston, Texas. In business for several years, the company has developed highly-rated AI solutions used by many well-known businesses in a variety of industries. Prime AI Business Solutions now offers a range of AI hardware and software products geared toward helping businesses of all sizes increase their customer base. The company has also introduced a “pay-as-you-grow” pricing model that scales to provide users with more support as they scale up.  

AICE Developments

AICE stands for Artificial Intelligence for Customer Engagement. AICE Developments is also a local technology company that manufactures and distributes a variety of technology products. AICE Developments was established in 2009 in Houston, Texas, providing integrated AI applications and platform services. Its products include applications and infrastructure offerings delivered through various IT deployment models, including on-premise deployments, cloud-based deployments, and hybrid deployments. The company serves automotive, financial services, healthcare, hospitality, retail, utilities, construction, etc. It provides AI solutions for enterprise marketing and customer engagement.

Competitive Advantage

Kearney Tech Inc. will be able to offer the following advantages over the competition:

• Proprietary technology: The company has developed proprietary AI technology that will be used to add new data sources, expand on valuable insights, launch advanced features like benchmarking, provide predictive and prescriptive analytics, and ensure self-guided data discovery.

Marketing Plan

Brand & value proposition.

Kearney Tech Inc. will offer a unique value proposition to its clientele:

• Service built on long-term relationships
• Big-firm expertise in a small-firm environment
• Thorough knowledge of the clients and their varying needs
• Proprietary technology developed by skilled software engineers

Promotions Strategy

The promotions strategy for Kearney Tech Inc. is as follows:

Kearney Tech Inc. understands that the best promotion comes from satisfied customers. The company will encourage its clients to refer other businesses by providing economic or financial incentives for every new client produced. This strategy will increase in effectiveness after the business has already been established.

Social Media

Kearney Tech Inc. will invest heavily in a social media advertising campaign. The brand manager will create the company’s social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Website/SEO

Kearney Tech Inc. will invest heavily in developing a professional website that displays all of the features and benefits of the technology company. It will also invest heavily in SEO so that the brand’s website will appear at the top of search engine results.

Direct Mail

Kearney Tech Inc. will blanket businesses with direct mail pieces. These pieces will provide general information on Kearney Tech Inc., offer discounts, and/or provide other incentives for companies to use the AI platform.

Kearney Tech Inc.’s pricing will be on par with competitors so clients feel they receive great value when purchasing the technology.

Operations Plan

The following will be the operations plan for Kearney Tech Inc.:

Operation Functions:

• Abigail Kearney will be the Owner and CEO of the company. She will oversee all the operations and executive functions of the company. In the beginning, she will also provide customer support and market/sell AI products to potential clients.
• Abigail will employ an experienced assistant to work as a business analyst and help with various administrative duties around the office.
• Abigail will also hire several developers to maintain and develop AI products and services.
• Abigail will also hire a solid sales team to sell our products to potential clients. As the company grows, she will also hire a team that is solely dedicated to customer service.

Milestones:

Kearney Tech Inc. will have the following milestones completed in the next six months.

5/2023 – Finalize lease agreement

6/2023 – Design and build out Kearney Tech Inc.

7/2023 – Hire and train initial staff

8/2023 – Kickoff of promotional campaign

9/2023 – Launch Kearney Tech Inc.

10/2023 – Reach break-even

Financial Plan

Key revenue & costs.

Kearney Tech Inc.’s revenues will come primarily from its technology solution subscription sales. The company will use a freemium subscription model, in which basic functions can be used by any company for free. Additional solutions and support will be available in a tiered package model based on the enterprises’ size and the number of users.

The office lease, equipment, supplies, and labor expenses will be the key cost drivers of Kearney Tech Inc. Ongoing marketing expenditures are also notable cost drivers for Kearney Tech Inc.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

• Average number of clients per month
• Annual rent: $20,000

Financial Projections

Income statement, balance sheet, cash flow statement, technology business plan faqs, what is a technology business plan.

A technology business plan is a plan to start and/or grow your technology business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections. You can easily complete your Technology business plan using our Technology Business Plan Template here .

What are the Main Types of Technology Businesses?

There are a number of different kinds of technology businesses, some examples include: Network technology, Software technology, and Customer relationship technology.

How Do You Get Funding for Your Technology Business Plan?

Technology businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Technology Business?

Starting a technology business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Technology Business Plan - The first step in starting a business is to create a detailed technology business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your technology business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your technology business is in compliance with local laws.

3. Register Your Technology Business - Once you have chosen a legal structure, the next step is to register your technology business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your technology business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Technology Equipment & Supplies - In order to start your technology business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your technology business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Learn more about how to start a successful Technology business: How to Start a Tech Company

IT Company Business Plan: Everything You Need to Know

An IT company business plan is a detailed plan for running and developing an information technology company. 3 min read updated on February 01, 2023

An IT company business plan is a detailed plan for running and developing an information technology company. It should describe all aspects of the business, including the company's description, product description, marketing strategy, and financial analysis, in a clear and precise manner.

Tips for Writing a Great Business Plan

A business plan should set out a clear roadmap for developing and expanding your business. Keep the following points in mind while writing a business plan:

• Test your idea. Avoid the temptation of jumping into a business merely on the basis of the success stories of others. Discuss your idea with prospective customers, vendors, and other people in the industry.
• Study the market to get an idea of industry trends, underlying challenges, and scope of future growth.
• Share your business plan with your employees. It is not something to be kept confidential.
• Write it in a clear and concise manner. Be specific, and cover all areas of the business.
• Put the plan to use; simply filing it away will not serve any purpose. Refer to it whenever possible.
• Revisit and revise your plan as your business grows.

Sections of a Business Plan

A typical business plan includes the following sections:

• Executive summary.
• Description of the company.
• Market research.
• Product or service description.
• Management structure.
• Sales and marketing strategy.
• Financial Analysis.

Benefits of Writing a Business Plan

Writing down your business plan offers the following benefits, among others:

• You get to understand your business better.
• It increases the chances of your business's success.
• It makes it easier to raise capital for a startup.
• Businesses with a written plan grow at a higher rate than those without any written plan.

Steps to Writing a Startup Business Plan

1. Have a Clear Objective

• Make sure that the company description is not ambiguous. The company description can also include your business's mission statement.
• State the reason for choosing that specific business. For example, you might be prompted to open a restaurant because no other restaurants in your area serve the cuisine your restaurant specializes in.
• Discuss the vision and growth prospects of your business in brief.

The summary should be concise and should not exceed four paragraphs.

2. Identify Your Target Market

Narrow down your target market based on geography, demography, psychology, and behavior. Your final target market may look like the following:

• Ages 20 to 35
• Living in the New York area
• With an annual income of $50,000-$60,000
• Who are interested in recycling and sustainable living

3. Analyze the Competition

Perform a competition analysis and differentiate your product accordingly. Price and quality can be two important differentiating factors. You should analyze the competition while simultaneously identifying your target market since both these steps are a part of the market research section of your business plan.

4. Prepare a Budget

Estimate the amount of funds you will need to start and operate the business. Many startups fail due to lack of funds. Preparing a budget beforehand will reduce this risk. When calculating your budget, consider all possible expenses, including the following:

• Cost of equipment.
• Money required for buying or leasing property.
• Legal fees.
• Employees' salaries.
• Insurance premiums.
• Inventory cost.

5. Make Financial Projections

Prepare financial projections based on the size of your target market and your expected market share. Include the expansion strategy in your projections. Keep your projections reasonable and make sure you cover three to five years of operations.

6. Define Your Business Structure

Define the organizational structure of your business. Having a clear hierarchy of power removes unnecessary doubt and debates over jobs and reporting positions. However, avoid adding too many layers in your business structure since that may create confusion and make the communication inefficient.

7. Prepare a Marketing Plan

A well-balanced marketing plan should include a strategy for customer acquisition in line with your target market, budget, and financial projections.

Some of the basic ideas for a marketing plan include the following:

• Launching a website.
• Being active on social media.
• Building a subscribers' list.
• Setting up loyalty programs.

8. Keep It Short and Simple

Although your business plan should be detailed and thorough, make it a point to keep it short and simple. Write it professionally and avoid using jargon. Proofread the plan for grammar, readability, and confusion.

If you need help with IT company business plan, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

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How to Write an IT Tech Startup Business Plan [Sample Template]

Are you about starting an IT tech startup? If YES, here is a detailed sample IT tech startup business plan template & feasibility report you can use for FREE . If you are a software developer or you have a background in the ICT industry and you are looking for An IT business to start, then you need to look far because there are loads of businesses in the industry and one of them is software as a service (or SaaS) company.

Software as a service (or SaaS) is an emerging paradigm business that enables software to be delivered as a service. This is an arrangement that enables companies to expand their network capacity, and run applications directly on a vendor’s network, offer a host of advantages with the most primary being radically lowering IT costs.

The lower budgetary requirements and commitments allow even smaller companies to piece together an IT project without spending on purchasing legacy server, and storage systems. However, due to the technical nature of this business, it would be wise to consult with a business consultant before starting off.

If your business concept is a great one, the business consultant would offer you tips and suggestions on the way forward. Below is a sample IT tech startup company business plan template that can help you successfully write your own with little or no stress.

A Sample IT Tech Startup Business Plan Template

1. industry overview.

An IT technology company (often tech company) is a type of business entity that focuses on the development and manufacturing of technology products, or providing technology as a service. “Technology”, in this context, has come to mean electronics-based technology. This can include businesses relating to digital electronics, software, and internet-related services, such as e-commerce.

For the purpose of this business plan, we will be looking at software development as a service. Software as a service (or SaaS) is part of the Business Analytics and Enterprise Software Publishing industry and players in this industry consist of companies that are into ERP software, bi software, crm software, scm software and other software development and they may decide to strictly adopt the Software as a services (SaaS) Business model.

A recent report published by IBISWorld shows that the Business Analytics and Enterprise Software Publishing industry has grown steadily due to favorable demand conditions caused by high corporate profit and investment. Over the five years to 2018, industry revenue rose at an annualized rate of 7.1 percent, driven by businesses’ increased technological complexity and the eagerness to adopt efficiency-enhancing software.

The report also shows that many industry products, such as customer relationship management and enterprise resource planning software systems, have become basic tools in the management of large companies. In 2018, industry revenue is expected to rise 2.6 percent to $55.4 billion. The world’s largest software companies have spent the past five years acquiring high-performing enterprise software vendors, cloud companies and data.

The report further states that over the past five years, the Business Analytics & Enterprise Software Publishing in the US industry has grown by 7.1 percent to reach revenue of $55bn in 2018. In the same timeframe, the number of businesses has grown by 10.0 percent and the number of employees has grown by 10.2 percent.

The Business Analytics and Enterprise Software Publishing industry is indeed a growing industry and is gaining ground in most countries of the world. Statistics has it that in the united states of America alone, there are about 2,869 registered and licensed business analytics and enterprise software publishing companies (Software as a services (SaaS) business model inclusive) responsible for employing about 139,347 people and the industry rakes $55 billion annually.

The industry is projected to grow at 7.1 percent annual growth within 2013 and 2018. The companies holding the largest market share in the Business Analytics & Enterprise Software Publishing in the US industry include SAP SE, International Business Machines Corporation, Salesforce.com Inc. and Oracle Corporation.

Some of the factors that encourage entrepreneurs to start their own Software as a service (SaaS) business could be the growing recognition of economic and operational benefits and the efficiency of this business model. As companies ease out gradually from the economic uncertainties and financial shackles, widespread adoption of Software as a service is in the offing.

The successful adoption of this technology concept will pave the way for mass enterprise adoption of Software as a service in the upcoming years. The transition of enterprises from virtual machines to the cloud will additionally extend the impetus required for strong growth of Software as a service (SaaS).

Poised to score the maximum gains will be end-to end cloud-computing solutions that offer complete functionalities ranging from integration of internal and external clouds, automation of business-critical tasks, and streamlining of business processes and workflow, among others.

Over and above, starting a software as a services (SaaS) company requires professionalism and good grasp of how the ICT industry works. Besides, you would need to get the required certifications and license and also meet the standard security expected for players in the industry in the United States.

2. Executive Summary

Joel Rogers® Technologies, Inc. is an IT tech startup that will specialize in offering software as a service (SaaS). The business will be based in Overland Park – Kansas and we were able to secure a well – positioned and standard office facility.

Joel Rogers® Technologies, Inc. is a client – focused and result driven IT tech startup company that is into ERP software, bi software, crm software, scm software and other software development. We will provide broad – based software development services at an affordable fee that won’t in any way put a hole in the pocket of our clients. We will offer standard and professional services to all to our clients.

At Joel Rogers® Technologies, Inc., our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are experienced in the business analytics and enterprise software publishing industry in general.

Joel Rogers® Technologies, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Our plan is to position the business to become the leading brand in software as a service (SaaS) business in the whole of Overland Park – Kansas, and also to be amongst the top 10 IT tech startup companies in the United States of America within the first 10 years of operation. This might look too tall a dream but we are optimistic that this will surely be realized.

Joel Rogers® Technologies, Inc. will be owned and managed by Joel Rogers. He has a Bachelor of Technology. He is a certified SOC 2 – Trust (SOC 2 is designed specifically for SaaS operations) and has over 10 years’ experience working in related industry as a senior software engineer prior to starting Joel Rogers® Technologies, Inc.

3. Our Products and Services

Joel Rogers® Technologies, Inc. is going to offer varieties of services within the scope of the business analytics and enterprise software publishing industry in the United States of America. We are well prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition.

Our business offerings are listed below;

• ERP software development
• BI software development
• CRM software development
• SCM software development
• Other software development

4. Our Mission and Vision Statement

• Our vision is to build an IT tech startup company that will be among the forerunners when it comes to offering software as a service (SaaS) in the world.
• Our mission is as an IT tech startup with bias in software as a services (SaaS) is to help a wide range of clients develop customized software that will help them simplify their businesses and operations.

Our Business Structure

Ordinarily we would have settled for two or three staff members, but as part of our plan to build a standard IT tech startup company in Overland Park – Kansas, we have perfected plans to get it right from the beginning which is why we are going to ensure that we have competent, honest and hardworking employees to occupy all the available positions in our firm.

The kind of IT tech startup company we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around Overland Park – Kansas as long as they are willing and ready to work with us.

Below is the business structure that we will build Joel Rogers® Technologies, Inc. on;

• Chief Executive Officer
• Programmers and Software Developers

Admin and HR Manager

• Digital Marketers (Marketing and Sales Executive)
• Customer Care Executive / Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Office:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
• Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization

Programmers and Software Developer

• Responsible for designing, installing, testing and maintenance of software systems for the organization
• Identifying areas for modification in existing programs and subsequently developing these modifications
• Writing and implementing efficient code
• Determining operational practicality
• Developing quality assurance procedures
• Training users
• Working closely with other developers, UX designers, business and systems analysts
• Presenting ideas for system improvements, including cost proposals
• Working closely with analysts, designers and staff
• Producing detailed specifications and writing the programme codes
• Maintaining and upgrading existing systems once they are up and running
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defining job positions for recruitment and managing interviewing process
• Carrying out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversee the smooth running of the daily office activities.

Marketing and Sales Executive

• Identify, prioritize, and reach out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts
• Writing winning proposal documents, negotiate fees and rates in line with company policy
• Responsible for handling business research, marker surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Document all customer contact and information
• Represent the company in strategic meetings
• Help increase sales and growth for the company
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• create reports from the information concerning the financial transactions as recorded
• Prepare the income statement and balance sheet using the trial balance and ledgers
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Technical Help Desk Officer

• Provide technical assistance and support for incoming queries and issues related to our software
• Identifies problems and issues by performing relevant research using the appropriate tools and by following established procedures.
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s services
• Consistently stays abreast of any new information on the company’s promotional campaigns etc. to ensure accurate and helpful information is supplied to clients

6. SWOT Analysis

Joel Rogers® Technologies, Inc. engaged the services of a professional in the area of business consulting and structuring to assist the firm in building a well – structured IT tech startup company that can favorably compete in the highly competitive business analytics and enterprise software publishing industry.

Part of what the business consultant did was to work with the management of our organization in conducting a SWOT analysis for Joel Rogers® Technologies, Inc. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Joel Rogers® Technologies, Inc.;

We can boast of a competent technical team that has analytical and critical thinking skills that can help them find creative solutions for our clients. Aside from the synergy that exists in our carefully selected workforce, we have a very strong online presence and we are well positioned to attract loads of clients from the first day we open our doors for business.

One of the weaknesses that is obvious to us is the lack of capacity and inability to compete with big players in the industry especially as it relates to economy of scales.

• Opportunities:

The opportunities in the business analytics and enterprise software publishing industry is massive considering the fact that the world is going the way of technology, and software as a service (SaaS) is indispensable in the value chain of the info tech industry.

Some of the threats that we are likely going to face as an IT tech startup business operating in the United States are hosting issues, installation or upkeep troubles, piracy, unfavorable government policies , and global economic downturn which usually affects purchasing/spending power.

7. MARKET ANALYSIS

• Market Trends

The advancement we are enjoying in our world today can be attributed to the advancement of technology. Technology has indeed given leverage to all aspects of human endeavor. To start with, it is the advancement of technology that landed man in the moon.

It is the advancement of technology that made communication either via the telephone or computer easier and faster. It is the advancement of technology that made transportation faster and perhaps cheaper. It is the advancement of technology that made the manufacturing of goods faster and cheaper, etc.

The technology industry is so wide and vibrant and there is still room large enough for those who are interested in the industry to come in and create their own impact. One thing is certain, the world will always celebrate any inventor who is able to invent machines or devices that can ease the process of doing things.

8. Our Target Market

We are aware that the nature of our business is geared to words serving B2B clients, hence Joel Rogers® Technologies, Inc. will initially serve small to medium sized business, from new ventures to well established businesses and individual clients, but that does not in any way stop us from growing to compete with the leading IT tech startup companies that offer software as a services (SaaS) in the United States.

As a standard and licensed IT tech startup company that offers software as a service (SaaS), Joel Rogers® Technologies, Inc. will develop software apps for the following clients;

• Financial services providers
• Insurance companies
• Businesses in the health sector
• Supply chain businesses
• Other related businesses that may need software as a services (SaaS) technology

Our competitive advantage

The level of competition in the business analytics and enterprise software publishing industry does not in any way depend on the location of the business since most companies that offer software as a service (SaaS), can operate from any part of the world and still effectively compete in the industry.

We are quite aware that to be highly competitive in the business analytics and enterprise software publishing industry means that we should be able to develop software apps that will help simplify business and operation process for clients.

Joel Rogers® Technologies, Inc. might be a new entrant into the industry in the United States of America, but the management staff are considered gurus. They are highly qualified software programmers and developers in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

9. SALES AND MARKETING STRATEGY

We are mindful of the fact that there is fast – growing competition amongst IT tech startup companies and other players in the business analytics and enterprise software publishing industry in the United States of America and around the globe; hence we have been able to hire some of the best business developer cum digital marketers to handle our sales and marketing.

Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard IT tech startup company that offer software as a services (SaaS), that will leverage on word of mouth advertisement from satisfied clients.

Joel Rogers® Technologies, Inc. is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our business by sending introductory letters alongside our brochure to all the companies, institutions and organizations within and outside the United States
• Promptness in bidding for software as a service (SaaS) contracts from companies, and organizations within and outside the United States
• Advertise our business in relevant programming magazines, radio and TV stations
• List our business on local directories/yellow pages
• Attend international software as a services (SaaS) developers related, seminars, and business fairs et al
• Create different packages for different category of clients in order to work with their budgets
• Leverage on the internet to promote our business
• Join related associations around us with the main aim of networking and marketing our services; we are likely going to get referrals from such networks.

Sources of Income

Joel Rogers® Technologies, Inc. is established with the aim of maximizing profits in the business analytics and enterprise software publishing industry and we are going to ensure that we do all it takes to attract clients on a regular basis.

Joel Rogers® Technologies, Inc. will generate income by offering the following services and products

10. Sales Forecast

We are well positioned to take on the available market in Overland Park – Kansas and in the cyberspace and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six months of operation and grow the business and our clientele base beyond Overland Park to other cities in the United States of America and in the cyberspace.

We have been able to examine the business analytics and enterprise software publishing market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Joel Rogers® Technologies, Inc., it is based on the location of our business and the services we will be offering;

• First Fiscal Year (FY1):  $300,000
• Second Fiscal Year (FY2):  $550,000
• Third Fiscal Year (FY3):  $1.5 million

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and internet shutdown within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the software as a services (SaaS) industry by storm which is why we have made provisions for effective publicity and advertisement of our IT tech startup company.

Below are the platforms we intend to leverage on to promote and advertise Joel Rogers® Technologies, Inc.;

• Place adverts on both print (community – based newspapers and magazines) and electronic media platforms
• Sponsor relevant community – based events/programs
• Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, YouTube, Google + et al to promote our brand
• Install our billboards in strategic locations all around Overland Park
• Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.

12. Our Pricing Strategy

At Joel Rogers® Technologies, Inc. we will keep our product and service fees a little bit below the average market rate by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to startups, nonprofits, cooperatives, and small social enterprises who want to develop software apps for their business.

• Payment Options

The payment policy adopted by Joel Rogers® Technologies, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Joel Rogers® Technologies, Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via online bank transfer
• Payment via mobile money
• Payment via Point of Sales Machines (POS Machines)
• Payment via check

In view of the above, we have chosen banking platforms that will enable our client make payment without any stress on their part.

13. Startup Expenditure (Budget)

These are the areas we are looking towards spending our startup capital on;

• The total fee for incorporating the Business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services P.O.S machines – $3,300.
• The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400.
• The amount needed to acquire a suitable Office facility in a business district for 6 months (Re – Construction of the facility inclusive) – $40,000.
• Marketing expenses for the grand opening of Joel Rogers® Technologies, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• The total cost for hiring Business Consultant – $2,500
• The cost for equipping the office (computers, software apps and hardware such as Application-specific integrated circuit (ASIC) machines, internet server, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $25,000
• The cost of launching our official website – $800
• Budget for paying at least two employees for 3 months and utility bills – $75,000
• Additional expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
• Miscellaneous – $10,000

Going by the report from the research and feasibility studies, we will need about Two Hundred and Fifty Thousand US Dollars ($250,000) to set up a small scale but standard IT tech startup company in the United States of America.

Generating Funds/Startup Capital for Joel Rogers® Technologies, Inc.

Joel Rogers® Technologies, Inc. is owned and managed by Joel Rogers. He may likely welcome partners later which is why he has decided to restrict the sourcing of the startup capital for the business to just three major sources.

• Generate part of the startup capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from the bank

N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business closes shop.

One of our major goals of starting Joel Rogers® Technologies, Inc. is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our software as a services (SaaS) a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Joel Rogers® Technologies, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check : Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Leasing a standard and well positioned office facility in the heart of Overland Park – Kansas: Completed
• Generating part of the start up capital from the founder: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the needed software applications, internet server, furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in the industry: In Progress.

More on Technology

How to write a business plan for an it services company?

Creating a business plan for an it services company is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating an it services company business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for an it services company?

• What information is needed to create a business plan for an it services company?
• What goes in the financial forecast for an it services company?
• What goes in the written part of an it services company business plan?
• What tool can I use to write my it services company business plan?

Being clear on the scope and goals of the document will make it easier to understand its structure and content. So before diving into the actual content of the plan, let's have a quick look at the main reasons why you would want to write an it services company business plan in the first place.

To have a clear roadmap to grow the business

Running a small business is tough! Economic cycles bring growth and recessions, while the business landscape is ever-changing with new technologies, regulations, competitors, and consumer behaviours emerging constantly.

In such a dynamic context, operating a business without a clear roadmap is akin to driving blindfolded: it's risky, to say the least. That's why crafting a business plan for your it services company is vital to establish a successful and sustainable venture.

To create an effective business plan, you'll need to assess your current position (if you're already in business) and define where you want the business to be in the next three to five years.

Once you have a clear destination for your it services company, you'll have to:

• Identify the necessary resources (human, equipment, and capital) needed to reach your goals,
• Determine the pace at which the business needs to progress to meet its objectives as scheduled,
• Recognize and address the potential risks you may encounter along the way.

Engaging in this process regularly proves advantageous for both startups and established companies. It empowers you to make informed decisions about resource allocation, ensuring the long-term success of your business.

To get visibility on future cash flows

If your small it services company runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your it services company's future cash flows.

So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.

The good news is that your it services company business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.

To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.

By diligently monitoring your it services company's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.

To secure financing

Crafting a comprehensive business plan for your it services company, whether you're starting up or already established, is paramount when you're seeking financing from banks or investors.

Given how fragile small businesses are, financiers will want to ensure that you have a clear roadmap in place as well as command and control of your future cash flows before entertaining the idea of funding you.

For banks, the information in your business plan will be used to assess your borrowing capacity - which is defined as the maximum amount of debt your business can afford alongside your ability to repay the loan. This evaluation helps them decide whether to extend credit to your business and under what terms (interest rate, duration, repayment options, collateral, etc.).

Similarly, investors will thoroughly review your plan to determine if their investment can yield an attractive return. They'll be looking for evidence that your it services company has the potential for healthy growth, profitability, and consistent cash flow generation over time.

Now that you understand the importance of creating a business plan for your it services company, let's delve into the necessary information needed to craft an effective plan.

Information needed to create a business plan for an it services company

Drafting an it services company business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.

Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.

Carrying out market research for an it services company

As you consider writing your business plan for an it services company, conducting market research becomes a vital step to ensure accurate and realistic financial projections.

Market research provides valuable insights into your target customer base, competitors, pricing strategies, and other key factors that can significantly impact the commercial success of your business.

Through this research, you may uncover trends that could influence your it services company.

You may discover that customers might be more likely to use your IT services if they can access them remotely. Additionally, customers might be looking for more convenience when it comes to IT services, such as automated support or faster response times.

Such market trends play a significant role in forecasting revenue, as they offer valuable data about potential customers' spending habits and preferences.

By incorporating these findings into your financial projections, you can present investors with more accurate information, helping them make informed decisions about investing in your it services company.

Developing the sales and marketing plan for an it services company

Budgeting sales and marketing expenses is essential before creating an it services company business plan.

A comprehensive sales and marketing plan should provide an accurate projection of what actions need to be implemented to acquire and retain customers, how many people are needed to carry out these initiatives, and how much needs to be spent on promotions, advertising, and other aspects.

This helps ensure that the right amount of resources is allocated to these activities in order to hit the sales and growth objectives forecasted in your business plan.

The staffing and equipment needs of an it services company

Whether you are at the beginning stages of your it services company or expanding its horizons, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is vital to ensure your business's success.

To achieve this, both the recruitment and investment plans must align coherently with the projected timing and level of growth in your forecast. It is essential to secure appropriate funding for these plans.

A IT services company might incur staffing costs such as salaries for IT engineers and technicians, as well as administrative costs for a human resources team. They might also incur costs for equipment, such as servers, routers, and other hardware, as well as software licenses and subscription fees.

To create a financial forecast that accurately represents your business's outlook, remember to factor in other day-to-day operating expenses.

Now that you have all the necessary information, it's time to dive in and start creating your business plan and developing the financial forecast for your it services company.

What goes into your it services company's financial forecast?

The objective of the financial forecast of your it services company's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.

The four key outputs of a financial forecast for an it services company are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

Your it services company forecasted P&L statement enables the reader of your business plan to get an idea of how much revenue and profits your business is expected to make in the near future.

Ideally, your reader will want to see:

• Growth above the inflation level
• Expanding profit margins
• Positive net profit throughout the plan

Expectations for an established it services company will of course be different than for a startup. Existing businesses which have reached their cruising altitude might have slower growth and higher margins than ventures just being started.

The projected balance sheet of your it services company

The balance sheet for an it services company is a financial document that provides a snapshot of your business’s financial health at a given point in time.

It shows three main components: assets, liabilities and equity:

• Assets: are resources owned by the business, such as cash, equipment, and accounts receivable (money owed by clients).
• Liabilities: are debts owed to creditors and other entities, such as accounts payable (money owed to suppliers) and loans.
• Equity: includes the sums invested by the shareholders or business owners and the cumulative profits and losses of the business to date (called retained earnings). It is a proxy for the value of the owner's stake in the business.

Examining the balance sheet is important for lenders, investors, or other stakeholders who are interested in assessing your it services company's liquidity and solvency:

• Liquidity: assesses whether or not your business has sufficient cash and short-term assets to honour its liabilities due over the next 12 months. It is a short-term focus.
• Solvency: assesses whether or not your business has the capacity to repay its debt over the medium-term.

Looking at the balance sheet can also provide insights into your it services company's investment and financing policies.

In particular, stakeholders can compare the value of equity to the value of the outstanding financial debt to assess how the business is funded and what level of financial risk has been taken by the owners (financial debt is riskier because it has to be repaid, while equity doesn't need to be repaid).

The cash flow forecast

As we've seen earlier in this guide, monitoring future cash flows is the key to success and the only way of ensuring that your it services company has enough cash to operate.

As you can expect showing future cash flows is the main role of the cash flow forecast in your it services company business plan.

It is best practice to organise the cash flow statement by nature in order to show the cash impact of the following areas:

• Cash flow generated from operations: the operating cash flow shows how much cash is generated or consumed by the business's commercial activities
• Cash flow from investing activities: the investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.) either to maintain the business's equipment or to expand its capabilities
• Cash flow from financing activities: the financing cash flow shows how much cash is raised or distributed to financiers

Looking at the cash flow forecast helps you to make sure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

Your it services company business plan will normally include both yearly and monthly cash flow forecasts so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The sources and uses table or initial financing plan is a key component of your business plan when starting an it services company.

It shows where the capital needed to set up the business will come from (sources) and how it will be spent (uses).

This table helps size the investment required to set up the it services company, and understand how risks will be distributed between the business owners, and the financiers.

The sources and uses table also highlights what the starting cash position will be. This is key for startups as the business needs to have sufficient funding to sustain operations until the break-even point is reached.

Now that you have a clear understanding of what will go into the financial forecast of your it services company business plan, let's have a look at the written part of the plan.

The written part of an it services company business plan

The written part of an it services company business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Throughout these sections, you will seek to provide the reader with the details and context needed for them to form a view on whether or not your business plan is achievable and your forecast a realistic possibility.

Let's go through the content of each section in more detail!

1. The executive summary

In your it services company's business plan, the first section is the executive summary — a captivating overview of your plan that aims to pique the reader's interest and leave them eager to learn more about your business.

When crafting the executive summary, start with an introduction to your business, including its name, concept, location, how long it has been running, and what sets it apart. Briefly mention the products and services you plan to offer and your target customer profile.

Following that, provide an overview of the addressable market for your it services company, current trends, and potential growth opportunities.

Next, include a summary of key financial figures like projected revenues, profits, and cash flows.

Finally, in the "ask" section, detail any funding requirements you may have.

2. The presentation of the company

As you build your it services company business plan, the second section deserves attention as it delves into the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide valuable insights into the legal structure of the business, the identities of the owners, and their respective investments and ownership stakes. This level of transparency is vital, particularly if you're seeking financing, as it clarifies which legal entity will receive the funds and who holds the reins of the business.

Moving to the location part, you'll offer a comprehensive view of the company's premises and articulate why this specific location is strategic for the business, emphasizing factors like catchment area, accessibility, and nearby amenities.

When describing the location of your IT services company, you may want to focus on the potential for growth and the access to skilled labor. You could emphasize the availability of facilities and resources that would enable your business operations to expand and thrive. Additionally, you might mention the proximity to major transportation hubs, as well as the potential customer base in the surrounding area. All of these factors could make your company an attractive investment opportunity for potential financiers.

Lastly, you should introduce your esteemed management team. Provide a thorough explanation of each member's role, background, and extensive experience.

It's equally important to highlight any past successes the management team has achieved and underscore the duration they've been working together. This information will instil trust in potential lenders or investors, showcasing the strength and expertise of your leadership team and their ability to deliver the business plan.

3. The products and services section

The products and services section of your it services company business plan should include a detailed description of what your company sells to its customers. 

For example, your IT services company might offer customers on-site and remote technical support, web design and development, and data management and analysis services. On-site and remote technical support allows customers to quickly address any issues they're having with their IT systems. Web design and development ensures customers have a professional online presence. And data management and analysis helps customers make informed decisions based on their data.

The reader will want to understand what makes your it services company unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

4. The market analysis

When you present your market analysis in your it services company business plan, it's crucial to include detailed information about customers' demographics and segmentation, target market, competition, barriers to entry, and any relevant regulations.

The main objective of this section is to help the reader understand the size and attractiveness of the market while demonstrating your solid understanding of the industry.

Begin with the demographics and segmentation subsection, providing an overview of the addressable market for your it services company, the key trends in the marketplace, and introducing different customer segments along with their preferences in terms of purchasing habits and budgets.

Next, focus on your target market, zooming in on the specific customer segments your it services company aims to serve and explaining how your products and services fulfil their distinct needs.

For example, your target market might include large corporate organizations in need of IT services. These organizations often have a budget for IT services and need to maintain their IT infrastructure to stay competitive. These organizations may need on-site support, cloud-based services, IT security, and other services that the IT services company can provide.

Then proceed to the competition subsection, where you introduce your main competitors and highlight what sets you apart from them.

Finally, conclude your market analysis with an overview of the key regulations applicable to your it services company.

5. The strategy section

When writing the strategy section of a business plan for your it services company, it is essential to include information about your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

The competitive edge subsection should explain what sets your company apart from its competitors. This part is especially key if you are writing the business plan of a startup, as you have to make a name for yourself in the marketplace against established players.

The pricing strategy subsection should demonstrate how you intend to remain profitable while still offering competitive prices to your customers.

The sales & marketing plan should outline how you intend to reach out and acquire new customers, as well as retain existing ones with loyalty programs or special offers. 

The milestones subsection should outline what your company has achieved to date, and its main objectives for the years to come - along with dates so that everyone involved has clear expectations of when progress can be expected.

The risks and mitigants subsection should list the main risks that jeopardize the execution of your plan and explain what measures you have taken to minimize these. This is essential in order for investors or lenders to feel secure in investing in your venture.

Your IT services company could face potential losses from cyber attacks. Hackers could gain access to client data and/or confidential company information, leading to financial losses or reputational damage. Your IT services company might also face the risk of not meeting customer expectations. Poor customer service or inadequate IT solutions offered could lead to customer dissatisfaction and a loss of business.

6. The operations section

In your business plan, it's also essential to provide a detailed overview of the operations of your it services company.

Start by covering your team, highlighting key roles and your recruitment plan to support the expected growth. Outline the qualifications and experience required for each role and your intended recruitment methods, whether through job boards, referrals, or headhunters.

Next, clearly state your it services company's operating hours, allowing the reader to assess staffing levels adequately. Additionally, mention any plans for varying opening times during peak seasons and how you'll handle customer queries outside normal operating hours.

Then, shift your focus to the key assets and intellectual property (IP) necessary for your business. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, make sure to include them in this section.

You could have key assets such as your knowledge base of IT systems and software, as well as any proprietary software or tools you may have developed for your business. You might also have intellectual property such as trademarks, patents, and copyrights related to your services or products. These can be valuable assets to your IT services company.

Lastly, include a list of suppliers you plan to work with, detailing their services and main commercial terms, such as price, payment terms, and contract duration. Investors are interested in understanding why you've chosen specific suppliers, which may be due to higher-quality products or established relationships from previous ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of an it services company business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my it services company's business plan?

There are two main ways of creating your it services company business plan:

• Using specialized business planning software,
• Hiring a business plan writer.

Using an online business plan software for your it services company's business plan

Using online business planning software is the most efficient and modern way to create an it services company business plan.

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Hiring a business plan writer to write your it services company's business plan

Outsourcing your it services company business plan to a business plan writer can also be a viable option.

These writers possess valuable experience in crafting business plans and creating accurate financial forecasts. Additionally, enlisting their services can save you precious time, enabling you to concentrate on the day-to-day operations of your business.

It's important to be mindful, though, that hiring business plan writers comes with a cost. You'll be paying not just for their time but also for the software they use, and their profit margin.

Based on experience, a complete business plan usually requires a budget of at least £1.5k ($2.0k) excluding tax, and more if revisions are needed after initial meetings with lenders or investors - changes often arise following these discussions.

When seeking investment, be cautious about spending too much on consulting fees. Investors prefer their funds to contribute directly to business growth. Thus, the amount you spend on business plan writing services and other consulting services should be negligible compared to the amount you raise.

Another aspect to consider is that while you'll receive the output of the business plan, you usually won't own the actual document. It will be saved in the consultant's business plan software, which will make updating the plan challenging without retaining the consultant on a retainer.

Given these factors, it's essential to carefully weigh the pros and cons of outsourcing your it services company business plan to a business plan writer and decide what best suits your business's unique needs.

Why not create your it services company's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write an it services company business plan is a terrible idea.

For starters, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is very technical and requires both a strong grasp of accounting principles and solid skills in financial modelling.

As a result, it is unlikely anyone will trust your numbers unless - like us at The Business Plan Shop - you hold a degree in finance and accounting and have significant financial modelling experience in your past.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the 1990s and early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Also, using software makes it easy to compare actuals vs. forecasts and maintain our forecasts up to date to maintain visibility on future cash flows - as we discussed earlier in this guide - whereas this is a pain to do with a spreadsheet.

That's for the forecast, but what about the written part of my it services company business plan?

This part is less error-prone, but here also software brings tremendous gains in productivity:

• Word processors don't include instructions and examples for each part of your business plan
• Word processors don't update your numbers automatically when they change in your forecast
• Word processors don't handle the formatting for you

Overall, while Word or Excel may be viable options for creating an it services company business plan for some entrepreneurs, it is by far not the best or most efficient solution.

• Using business plan software is a modern and cost-effective way of writing and maintaining business plans.
• A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows.
• A business plan has 2 main parts: a financial forecast outlining the funding requirements of your it services company and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.

We hope that this in-depth guide met your expectations and that you now have a clear understanding of how to write your it services company business plan. Do not hesitate to contact our friendly team if you have questions additional questions we haven't addressed here.

Also on The Business Plan Shop

• How to write a business plan to secure a bank loan?
• Key steps to write a business plan?
• Top mistakes to avoid in your business plan

Do you know entrepreneurs interested in starting or growing an it services company? Share this article with them!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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MassChallenge

Innovation Blog

7 steps to create a technology startup business plan.

• Published on: April 26, 2022
• Author: masschallenge

Many entrepreneurs still overlook the importance of a technology startup business plan. In a space as competitive as the tech industry, a lack of preparation will surely pave the way to disappointment.

Instead of diving in without any concrete strategy, a plan provides a foundation for sustainable business growth.

In this article, we’ll explore the essential elements of a tech startup business plan, and provide the insights you need to create a plan for success.

What Is A Business Plan?

A tech startup business plan is a document that details the premise of your technology business, summarizing vital financial objectives and operational goals, as well as details on how you will accomplish these goals.

Put simply:

It’s a road map that describes what you intend to do, and how you intend to do it.

A typical business plan will comprise the following seven elements:

• Executive Summary
• Company Description

Market Research

• Description of Products and/or Services
• Management & Operational Structure
• Marketing Plan
• Financial Plan

3 Reasons You Need a Business Plan

Before we dive into the individual aspects of a startup business plan, let’s first consider why you need one.

Just what are the benefits of a business plan?

1. It Offers Greater Clarity

Having a business plan will give you a much better understanding of your business and the objectives you are trying to achieve. Even the most basic technology startup business plan example will seek to define your goals in more objective terms.

For example, you can set specific targets for website traffic, sales volumes, or profit margins. This makes it easier to track and measure success and aligns your decision-making with sales and marketing initiatives.

2. It Increases the Chances of Success

A report from the Harvard Business Review found that companies with a business plan are 16% more likely to succeed.

Furthermore, companies that have a business plan also enjoy higher growth rates than companies without a plan.

3. You Are More Likely to Get Investment

Angel investors and venture capitalists aren’t in the habit of making bad bets. When they part with large sums of money, it’s a carefully considered decision they base on the likelihood of earning a positive return on investment (ROI). When you have a business plan, you give your startup strategic focus, which helps you create an identity that is built to succeed. This makes for a more attractive prospect in the eyes of investors, so it’s easier to raise capital for your startup when you have a plan.

How to Write a Business Plan for Your Tech Startup (7-Steps)

So, now that you understand the motivation behind creating a tech startup business plan, it’s time to see how it’s done. By including the seven elements below, you’ll have a plan that gives your company a much stronger footing.

1. Executive Summary

The executive summary is, without a doubt, the most critical element of your tech startup business plan. Despite this, a lot of plans fail here because the summary doesn’t captivate readers. If you can’t hook prospective investors, partners, or employees with your executive summary, they may never read the rest of your business plan.

Source: The Balance

This section should be compelling yet concise, giving people enough to understand what makes your startup unique, and how it will be able to offer solutions in an existing, competitive market.

While you want to keep it brief, there is a lot to pack into this opening section of your business plan. Here are the crucial components of an executive summary:

• Business Model – What is your product or service? How will you make money?
• Target Market – Who will benefit from this product or service?
• Business Opportunity – Why do consumers need your product or service?
• Marketing Strategy – How will these consumers learn more about your product or service?
• Competition – What other companies are competing for market share?
• Goals – How will your startup transform the marketplace with this product or service?

As the executive summary is such a vital aspect, it’s a smart move to write it last. By waiting until you have finished the rest of the business plan, you can draw from the other sections to craft an excellent executive summary.

2. Company Summary

The company summary essentially boils down to a single sentence, otherwise known as a headline statement.  When it’s done right, this summary can be the perfect elevator pitch to capture the imagination of would-be financial backers or partners, and it will serve as a natural lead-in to your more detailed business plan.

Source: Gusto (credit: LivePlan)

The company summary or headline statement should do the following:

• Give people a brief overview of what your company does.
• Communicate the value you offer.
• Highlight the opportunity in the market.

Here is a good template to create your company summary:

<Your company> is a <type of business> who sells <product or service> to <target customer> , who needs <solution> , but doesn’t get it from <competition> .

Don’t worry if you can’t create the perfect summary now. When you develop your business plan, you will get a better understanding of what this headline statement should be, and then you can refine it to reflect your vision and value proposition.

We’re sure you have a great idea, but that’s no guarantee that everyone is going to love it as much as you do. No matter how good you think your startup may be, you still need to conduct proper market research to learn more about your ideal customers and competitors.

Identify your Target Market

Without a viable market for your product or service, your business is doomed.

Many startups have failed quickly because the owners were so obsessed with their own product that they were effectively blind to the fact that nobody else cared about it.

Source: CB Insights Image: Cleveroad

Initially, you can adopt a broad scope to get a sense of your total addressable market (TAM), which is the potential revenue opportunity your new product or service could generate. Of course, with the competition, and changing consumer interests, it’s unlikely you will dominate the entire TAM.

Once you have this broad idea, you can hone your sights to go more niche. While this presents a smaller audience, it is more effective. By narrowing your targeting, you can market to a more engaged audience that will be more receptive and likely to purchase your product or service.

Consider the following factors when segmenting your audience:

• Demographic – What age group? What gender?
• Geographic – In what country or city do your prospects live?
• Behavior – What websites/blogs/news sources do they use? What are their purchasing habits? What retail sites or brands do they buy from?

With in-depth data analysis and evaluation of your prospective customers, you can create detailed buyer personas that help you refine your marketing strategies.

Perform Competitor Analysis

During the market research stage of your tech startup business plan, you should also carry out a thorough competitor analysis.

This will help you determine the key differentiators between your company and the competition.

Ask yourself these questions:

• Why should people choose my product or service?
• How can I improve on the existing solutions in the market?
• Why do people not already buy the products in the market?

By thinking about current trends or flaws in existing products, you can identify opportunities for innovation so that your business can connect with customers on a deeper level.

Knowing your audience is crucial, and therefore, your business plan must demonstrate a deep understanding of your target market, and your competitors.

3. Description of Products and/or Services

Here, you must highlight the link between what you are offering, and what people need, so you can prove that people are ready and willing to pay for your product or service.

Research Problems in Market

It helps to conduct some face-to-face research, asking potential customers about the problems they have. Don’t try to usher the conversation in any direction or shoehorn their answers to fit your product – instead, look to learn from their honest responses about the solutions they need.

You should do this research before creating the product. After all, it makes more sense to create a product for an existing problem, instead of trying to find a problem for your product.

Source: ProductTribe

Tailor Product to Problems

After doing your research on the existing problems in the market, trim your list to focus on a few of the most important issues. Describe how your product or service will be the ultimate solution to these problems.

For instance, if people believe the existing solutions are too expensive, you can offer a product with a more attractive price point.

By matching up consumer problems with specific solutions, you can develop a product or service that has a more significant value proposition.

4. Management & Operational Structure

The next stage of the traditional technology startup business plan template delves into the people that make up your company. You must highlight the strengths and experience of your existing team, as new partners effectively invest their money in the team as much as the business idea.

Ideally, your team will consist of several experts whose respective skill-sets complement one another. For example, your tech startup may have a coder, a graphic designer, an inbound marketing expert, and a sales professional. Discuss the merits of each team member to convey the value they add to the business.

You can also speculate about prospective new hires and the key attributes you will seek in future team members. If you haven’t already got a chief financial officer (CFO), it’s a smart move to mention adding one soon. This will add backbone to your business plan by reassuring people that you have good financial sense.

Organizational Chart

Here, your plan should clearly define the organizational structure of your startup. For now, it may just be you and a couple of business partners.

However, by including a graphic that visualizes the structure you intend to build, people will get a clear understanding of the distribution of power and chain of command.

For example, it may look something like this:

Having a hierarchy prepared before starting helps prevent any debates about who is in charge of each department, and makes it easier to understand who reports to who.

5. Marketing and Sales plan

No tech startup business plan would be complete without mentioning the marketing and sales strategies you intend to use.

Sales channels

To clarify the difference, marketing channels are used to promote your business, and its products or services, whereas sales channels are the mediums that enable people to purchase those products or services.

You may only have one direct sales channel to begin with, such as an online e-commerce store. Make sure you explain it in your business plan.

Marketing activities

In this section, you must detail how you will acquire leads and customers.

At the base level, you should do the following:

• Launch a company website
• Develop strategy to get organic traffic (i.e. visitors from search engines like Google)
• Develop a PPC strategy to get immediate online exposure for your most important product/service keywords
• Develop channel partnerships
• Build an email subscriber list

Over time, you can use marketing to nurture stronger customer relationships, which in turn, help you build an audience of loyal followers that will, hopefully, become customers.

The marketing section of your business plan will need to account for several factors, including your goals, risks in the market, and your budget. Which brings us to the final aspect of your tech startup business plan.

6. Financial Plan

Lastly, any good business plan must include pertinent details about your company budget and sales goals.

This can be daunting for many new entrepreneurs and is all the more challenging when you have no balance sheets, cash flow reports, or even any stable income on which to base your projections.

That being said, it’s still possible to make educated projections – so long as you have done solid market research.

When it comes to financial matters, your business plan should include details about:

• Revenue streams – how will the company generate income?
• Major expenses – What high costs do you anticipate in the year ahead?
• Salary demands – Are you still bootstrapping or are you and the partners taking a salary? If so, how much?
• Financial milestones – Detail your expansion strategy by considering future hires or store openings that will impact the books.

Many startups aren’t profitable in the first year. Your financial projections should maintain a long-term view for success, keeping ambitions realistic and honest. That way, you’ll be able to produce a more accurate break-even analysis .

With these long-term projections, you must consider the financial impact of expanding. You may be making more money in Year 3, but opening a new store will set you back.

Keep everything in perspective and make sure you don’t set yourself or your investors up for any nasty shocks down the road.

5 Tech Startup Business Plan Templates

When you have all the elements above in place, your business plan will be in good shape. However, presentation matters. If you want to make the best first impression, getting creative with your technology startup business plan template can make a big difference.

Not only will your research and expertise shine through, but you will have a visually stunning presentation that catches the eye of investors.

Here are five tech business plan examples to inspire you.

Business Plan Infographic PowerPoint

This plan allows you to present in-depth market analysis, statistics, and projections in a professional visual infographic. With several hundred editable slide options, it’s well worth the $16 fee for the license.

Source: Medium

Emaze Business Planning With Analytics

This is more than the average technology startup business plan template. Emaze has a diverse array of creative collaboration tools, making it easy and enjoyable for teams to create unique plans together from any of the built-in templates. Furthermore, you can incorporate analytics, which is perfect for impressing investors. That said, $19 per month for the premium version may seem a little steep for some small businesses.

Source: Emaze

Lean Canvas 1-Page Business Plan

A tech startup business plan doesn’t need to take weeks to create. In fact, with this template, you can have a basic – yet brilliant – business plan all together on a single page in just 20 minutes.

Source: Lean Stack

StartUp Pitch

For $15, you can access the full array of colorful slides in this presentation, which are all customizable to your needs. This template includes many ready-made aspects of the typical business plan, such as SWOT analysis, competitor analysis, and project timelines.

Source: Envato

This is another user-friendly tool for creating short business plans. You enter the information, and then LivePlan will generate a one-page plan in an infographic style.

Source: LivePlan

Make Your Tech Startup Business Plan a Priority

It’s not enough to have a great startup idea.

If you want to stand out from the pack, secure investment, and build a successful company that can earn real profits, growth, and customer loyalty, then you absolutely must have a solid tech startup business plan.

It’s time to create yours.

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Automate Your Consultancy

How to write an it consulting business plan in 8 steps.

The COVID-19 pandemic has rapidly transformed the world of IT consulting. Economic uncertainty, paired with an increased amount of freelance and small specialized consultancies, has resulted in a highly competitive environment. The good news for IT consultants is that their specific services are still in high demand. However, in an increasingly competitive landscape, it’s essential that IT consultants consolidate an in-depth business plan before launching. A well-structured plan must include growth, pay rates, expenses, marketing, equipment costs, training and qualifications, and technology. Like all businesses, you need to get started on the right foot. Here’s how!

Automation Benefits for Consultants

How to write an it consulting business plan.

Typically, business plans need to be written with banks and investors at top-of-mind, and small businesses generally need start-up funding to get up and running. When writing a business plan for your consultancy, you want to land on something in the middle.

Although consultants setting up their own business might not need much funding, it’s still essential to include in-depth financial components in your business plan – not only to clarify your business’s finances but also to help you understand your business’s potential risks and rewards.

A good business plan will combine elements of both finance and strategy. You may not necessarily need funding for capital equipment expenses or office rent, but you might need a loan to tide you over for the first few months until you have a regular cash flow. You may also decide that you want to make more of an impression by hiring office space, perhaps in a shared office environment. Or you might require funds to spend on marketing and advertising – which is particularly important in the highly competitive IT space. Whether you intend to apply for a bank loan, look for grants, or crowdfunding, it’s important your chosen method includes a solid estimation of what you need to grow strategically.

1. Identify the target market and sector analysis for your consulting businsess

A target market is the pool of customers to whom you want to sell your services, and it’s only made up of the people who are a good fit for your business. Basically, you want to figure out which fish in the ocean you will focus on catching. Establishing a target market will help you realize that you can’t market to everyone, and you shouldn’t waste your time, money, or resources trying to do so. There’s a famous marketing quote by Seth Godin, “When you speak to everyone, you speak to no one”. Make sure you are speaking to the right people.

​​Take time to assess your new target market analysis while deciding on your consultancy pricing ranges. You could use the market data to adjust your consultancy price points to suit your potential customers better. You will also need to distinguish who your customers are and where to find them – in the form of target market segmentation. Once you’ve gathered all the relevant information you can about your customers, you can then make a plan to market to them.

2. Define your consulting business objectives and USP (unique selling proposition)

A USP (unique selling proposition) summarizes what makes your business unique and valuable to your target market. It answers the question: How do your business services benefit your clients better than anyone else can? A USP can provide a great deal of clarity to your business plan, defining your most important business goals in one powerful sentence. Also, be sure to outline your business objectives – specific steps you need to take to fulfill your goals.

3. Estimate and plan startup expenses and assets, including equipment

Like your business plan, estimating your startup costs is part of building a roadmap for your business . Having even a rough estimate can help you avoid unnecessary risks and stay on track during more volatile months. Consider your start-up expenses and assets. Depending on whether you are setting up a remote or in-person consulting business, you will need to take into account the expense.

Expense considerations when starting a Consulting Business

• FF & E (Furniture Fixtures and Equipment)
• Leasehold Improvements
• Initial Marketing Plan/launch
• Legal / Consulting
• Miscellaneous

4. Forecast overheads and fixed costs

Fixed costs are fairly predictable and fixed overhead costs are necessary to keep a company operating smoothly. Profit margins should reflect the costs of fixed overhead, which can include:

• Office rental
• Licenses for software and technology

5. Develop a marketing strategy and budget

Establishing a cohesive marketing strategy is an important component of launching your consulting business. This includes establishing your brand, determining your target audience, creating a professional website, investing in social media marketing, search marketing, and developing a strong professional network. Many businesses make basic mistakes when budgeting for marketing that lead to wasted money and missed opportunities, so it’s important to strategically determine your marketing spend , funding requirements, loan collateral and cost of interest.

Lenders want to understand the roadmap you have in place for your business. You’ll need to be ready to answer questions about your business model, sources of revenue, growth forecasts, and initial startup costs. They need to see that your business is viable and that you’ve thoroughly explored what it will take to start, operate and grow.

Having realistic startup costs laid out is a necessity in this case. And being able to show how you believe expenses will change or remain similar over time will give them a better idea of how you intend to manage your business.

6. Include pay rates, revenue and cash flow projections

Ignoring the books makes you susceptible to cash deficits. To prevent this from occurring, pay attention to your balance sheet , which lets you know how much you own and what you owe. On the assets side are your short-term or “current” assets  plus long-term or “fixed” assets. Also be sure to pay attention to your shareholders’ equity which represents the amount of money shareholders have invested into the business through investments and the cumulative profits you have reinvested in your business via retained earnings. Cash flow projections are another important area of finances that you will need to pay attention to. They are a great way of predicting future cash flows (and cash stagnations). With projections, you can plan ahead to avoid any future stunts in cash flow, and help you time your spending decisions.

7. Forecast sales in monthly intervals

Sales forecasts in monthly intervals will help you understand the future needs of your business – and allow you to fine-tune predictions accordingly. Monthly forecasts may come in the form of production forecasts, profit forecasts, balance sheet forecasts or sales forecasts for a 30-day period, in which you predict performance data for your business for the next month, or any future months. Services businesses can be particularly susceptible to revenue swings. The more predictable you can make your revenue the better.

8. Include growth projections and strategy

A concrete growth strategy is crucial to the future success of your consulting business. Without one, you are susceptible to the perils of a constantly changing consumer base and unpredictable market fluctuations. Execute on the following to determine your strategy:

• Choose your targeted area of growth
• Invest in, or conduct market and industry research
• Set growth goals, plan your course of action
• Determine your growth tools and requirements
• Execute on your plan

Set your consulting business up for success with a great USP, the right technology and a bulletproof business plan

With the increased acceleration of digital disruption in 2021, your IT consulting business plan should show that you are up-to-date with technological developments and digitalization. With virtually every consulting firm incorporating a digital layer in its offering , it’s essential that you weave your digital offerings into both your objectives and USP. Providing digital offerings will also bolster your chance of receiving adequate funding. Alongside a killer business plan, it’s essential that consultants also include the best digital transformation tools in their arsenal – to ensure future success. Technology like Olive, can be a vital differentiator in an often crowded market. To remain competitive, consultants must develop coping skills to deal with and adapt to the fast-evolving digital and technology market. Today’s business strategy is technology-enabled, consultants need to leverage technology to inform strategy instead of the reverse. When technology is used correctly, it can help consultants achieve their business goals and plan for future success.

For consultants, leveraging the benefits of digital transformation requires creating a strategy, getting the input of stakeholders, and deeply understanding business needs. Consultants with the right tools will deliver more with less effort and will see their clients reap the benefits. Olive aims to help consultants digitize their process and release time to build a successful business.

A tool created to help consultants manage and automate the software selection process, Olive allows IT, consultants, to streamline the technology evaluation process and facilitates agile collaboration with key stakeholders. Olive gives consultants an easy way to collect data and requirements from stakeholders. By offering end-to-end digital transformation services with Olive, you can take on more clients and capitalize on digital transformation trends.

Writing – and successfully executing a consulting business plan – is no easy feat. However, with planning, strategy, and foresight – you will have a clear advantage over less-prepared competitors. Utilizing the right automation technology alongside a strategic business plan offers a guaranteed avenue to success – and a better likelihood of building a business ready for a post-pandemic world.

Scale and Grow Your IT Consulting Business

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6 Reasons Why Your IT Company Needs a Business Plan and a Guide on How to Write One

If you've recently started a new business, you've probably wondered about the importance of developing a business plan. Do you really need one? Is any specific computer software needed to create one? How exactly do you write a detailed business plan? Just because there are some questions arising, many entrepreneurs overlook the importance of writing a plan down.   

What is the business plan, then? Some think it's just another meaningless piece of paper, but they could not be more wrong. It is, in fact, the most acceptable way to convey all key information about your company's objectives.  We'll go through the most crucial details with you if you're not familiar with the concept.  

Business plan as a map to success - why is it important for IT companies to have it?  

An IT solutions company business plan is like a map - it contains an outline of your company's objectives and describes how you want to achieve them. If formed properly, a business plan can help you assess your success and schedule for the future. According to one study , entrepreneurs who create a formal business plan are 16% more inclined to reach viability in a competitive market. This factor alone could persuade to invest some time into constructing a business plan. Let's take a closer look at some other reasons.  

Reason 1: To successfully start and grow your IT business  

Even if your business is just a small startup, a solid IT department business plan is essential for its growth. Many small businesses fail due to the lack of well-defined business ideas and poor market analysis - it's a big mistake.

To write a business plan, you need to verify your data, rethink your sales strategies, and consider how you want to reach potential customers. It can help you identify possible weaknesses before you make the big decisions. Looking at the numbers, you can also allot your funds and plan purchases more efficiently - seeing a bigger picture here is a huge advantage you should make use of. You can also look up business plan templates online to see how this section should look.  

Reason 2: To get inspired  

Small business or not, when researching the business situation, you have to take a look at your competition and the overall market . Learn more about your customer segments, analyse your balance sheets, and calculate your start-up expenses, as educating yourself in the field of consumer needs and industry trends may inspire you to try a different approach or adjust something in your company's long-term plans. New ideas are essential to business growth, and writing a business plan based on what you find out can inspire you to get creative with fresh concepts.

Read various IT industry business plans online - there are a lot of free templates and examples on the Internet. You might find an idea you like in one of them and want to use it in your company's business plan as well! Knowing how other business plans are structured and what information is included in them can definitely benefit you in the future. Proper research is one of the keys to a winning business plan, especially for small businesses.  

Reason 3: To prove to potential investors that you are reliable  

Possible investors and lending institutions will want to know if your company is viable. To raise capital, you need to be taken seriously - and without a formal business plan that includes proper financial statements, you can anticipate a rejection .

You need a plan to demonstrate that you are accountable and responsible, with a viable market for your services. Show how you want to reach your financial milestones, and convince investors that your business idea will be efficient. Explain what you need the funds for and how you are planning to manage the financial resources - remember to mention any additional revenue streams you might have. Having an appropriately written plan can give you a considerable competitive advantage on the market.  

Reason 4: To set and communicate your objectives and marketing strategy  

A good IT company business plan, based on extensive market research will certainly present your ideas meticulously. You can announce your business plans and prospective marketing initiatives to future business partners and key members of the company. The financial information you provide, such as operating costs, financial forecasts and cash flow statements included in the plan can let both your management team and prospective customers know, what exactly are your goals for the company.

Present your business goals to your target audience, and use the business plan as a depiction of how determined you are to achieve your pursuits. Nevertheless, remember about setting realistic goals - your objectives must be measurable, as overly ambitious ones may appear too difficult to achieve. A well-planned approach will motivate and inspire not only you but also your IT company's employees. Furthermore, a good marketing strategy will indicate to your business partners that you are willing to face challenges and do your best.  

Reason 5: To evaluate the success of your business  

You should revisit your business plan after some time has passed, maybe even on a follow-up event with your team. You can then determine whether you met your objectives by reviewing the strategic plan you worked so hard on. Examine the cash flow statement, think about the customer relationships established, and see your business from the customers' perspective.

Did you achieve your goals? Is your company doing well, or do you need to make some changes? Is there any noticeable progress? Your stakeholders and clients will undeniably want to know how your company is doing. Having a business plan makes it easier to present the results later by allowing you to compare specific periods and results of planned actions taken.  

Reason 6: To prepare for the future  

The process of creating the plan can help you map out your company's expected future, as proper research will help you grow. A well-researched business plan can help you focus on the most important strategies. When determining your goals, you should consider what might happen in the future and different possible outcomes.

While developing your business plan, research your competitors to learn about their goals and strategies; this will provide you with valuable market insights and allow you to plan accordingly. Find out what the recent trends are and what seems to be gaining popularity - and see if you could perhaps capitalise on that. If you can use the knowledge you get during the business plan writing process to better prepare for the future, it's terrific!  

How to write a company business plan?  

Traditional business plans include various details about the company plans - general marketing strategy, financial projections, information about the product or service you want to sell, and a company description. You should also declare the business model you plan to operate on and what is your target market. That seems like a lot of information, but instead of a detailed business plan, you can use a lean business plan , which provides the information in a simplified way.

You may wonder how long does it take to write an IT consultancy business plan - it could take one month or a whole year, depending on how complex your ideas are. How much does it cost to write a business plan, then? Professional writing service is expensive, so you may prefer to do it yourself - luckily there is an abundance of free business plan templates on the Internet for every business plan format, and you can use them as a blueprint to construct yours.   

What are the different business plan types and which one should I make?  

You can choose between a traditional business plan and a lean business plan; the main difference is the level of detail and information provided. Even though writing a lean one is quicker, it would be preferable to use a traditional type if you need a startup business plan. It may be tempting to save time, but unless you understand roughly how to build a lean plan, stick to the classics. Want to know how? Let's take a look at our step-by-step guide on how to write a business plan.  

While you can use an online business plan template , let's first learn about the fundamental elements of a business plan so you can create your own in future. A typical business plan should include all of the eight core sections:  

• Executive summary  
• Company description
• Market analysis  
• Product or service description  
• Business structure  
• Financial plan and analysis  
• Sales and marketing strategy  
• Operational strategy  

A guide on the 8 essential sections your business plan NEEDS to have  

Section 1: executive summary  .

The executive summary is basically an introduction to your plan - so explain, why your business idea is important, and create what essentially is a persuasive sales pitch . Convey the mission statement and convince the reader that the product or service you offer is indeed something novel and interesting.

What is your vision for the business? Try to limit this part of the plan to 1-2 pages - state your main idea clearly and go forward. Whether you're a new business or an established IT company, assume the reader is unfamiliar with you and provide enough information in the executive summary for them to become acquainted with your business.  

Section 2: Company description  

In the company description section, you plainly describe your business , starting with providing its name. Include any details such as its background, physical address, who are the leaders and key members of the company, and what makes you different from the competition. Is it an S corporation, a limited liability company, or a sole proprietorship? What exactly is the product or service being offered, and by whom was it originally created? Who founded the business and why?  

Section 3: Market analysis  

Another aspect to include is the market analysis . Don't worry, it's not as difficult as it seems. In this section, you should assess your market's size, customer demographics, and purchasing patterns. You should also include information about your industry's competition and what keeps your company from losing to other businesses in the same market. Have you come up with some cutting-edge technology? Do you have your own proprietary distribution channels? Are you certain you'll have constant access to the resources you'll need? Provide the answers to those questions in the business plan.

Depending on whether you are a small startup or a bigger company, you might have to conduct a large-scale analysis for that - it is worth spending some time on it though, as this part of the plan can affect your future greatly. Include information about your future expansion strategy in your business plan as well!  

Section 4: Product or service description  

T his part is one of the easiest to go through. Explain in detail, what are you selling. Prove its originality and viability - clarify, why it is your product that will gain popularity on the market. Your promotion strategy and future marketing plans should be described here as well, so the reader knows you have everything planned and ready to go. Remember to capture your reader's attention - present all of the unique features of your product or service, and persuade them that you're bigger and better than the competition.

Discuss the price in relation to the quality of what you offer - many buyers are not interested in a cheap product if it is of poor quality, so try not to focus too much on the low price. How long will the production process take? When and where will customers be able to purchase your product? To have a solid foundation, provide answers to all the questions that come up. A brainstorming session would be a great help.  

Section 5: Business structure  

Investors and potential business partners will most likely be interested in your business structure . Unless you are a one-person operation, your business structure will almost certainly have multiple levels, and they should be shown in your business plan. List the employees of the company, their positions, and their daily responsibilities. Introduce the management team and board members, giving a good understanding of who is in that group.

You do not need to include lengthy descriptions of each employee; however, remember to briefly explain why they are important to the company and what experience they have in the field they are employed in. You can also include an organisational chart in your business plan as a visual guide.  

Section 6: Financial strategy  

Money is one of the most important aspects of business, so don't forget to include a section on your financial strategy . This part of your business plan is where you paint a picture of your expected revenues and losses. Regardless of whether you are a small business just starting up or a large corporation making millions, inform the reader about your expected net profit, potential cost savings, and legal expenses. Provide an income statement or a balance sheet if you have them, as they can have a considerable impact on your financial plan.

If your company is new and you do not yet have the data required, be clear about it and inform about any potential financial risks; if you have been in business for a long time, demonstrate your financial stability. The chief financial officer of your business can certainly help you with collecting the required data. Make sure your financial analysis is as thorough as possible. If you have spreadsheets and balance sheets that describe your cost structure, feel free to incorporate these into your business plan. Income statements are a good addition as well. Bank loans, and angel investments are often funding sources for new businesses, and banks and investors will likely want to see your business plans to make sure they can return the loan. An investor in your company can feel confident and know that you have the ability to operate it successfully if you have a proper, adequately written plan.  

Section  7: Sales and marketing strategy  

Another section of your business plan is your sales and marketing strategy . Here you are supposed to describe your plans for future marketing campaigns, promotion plans for driving sales and your general selling proposal. Writing a brief explanation of how your marketing efforts will affect the target group and influence buyers to choose your product or service is a must.

How will you be getting leads and what is your budget for it? How do you intend to make the world know about what you're selling? After conducting thorough market research, you will most likely come up with new promotional campaign ideas. Be specific - break down the marketing steps that you want to take to conquest the market. Make sure that all your ideas are actually relatable to the product or service you are planning to sell, as not every type of marketing suits every product.  

Section 8: Operational strategy  

Every business must have an operational strategy in place to ensure that everything runs smoothly at all times. The key to this section of a business plan is to explain how you will operate and what steps you will take to ensure it. Here, you tell the reader how your products will be made (or how the service will be provided) and how you will maintain a certain standard.

Will you have to work with another company, such as a delivery service or a manufacturer? Do you plan to outsource part of the work? List all of the connections you'll need and explain how they'll facilitate the creation of your product. If you have to physically store your items somewhere, explain where and why. It's also a sound idea to include information about any possible risks and safety precautions you want to take to mitigate them.  

Optional section: The appendix  

After all core parts of your business plan are written down, you can think about adding an appendix . Its purpose is to provide any supporting information or documentation - those can be product tester testimonials, customer lists, information on intellectual property, licenses required for your business to operate and more. If you share confidential information in the appendix, make sure it is secure and inaccessible to unauthorised parties. Because an appendix is unlikely to be included in a business plan template found online, you must be creative here.  

Also, keep in mind that the appendix is the last section of the business plan, so if it's multiple pages long and includes large blocks of text, the reader may skip it. Aim to keep your writing simple and easy to read.  

The overall importance of an IT company business plan  

Not only will it explain the complexities of your business to readers, but it will also serve as a guide for you to take the next steps on your path to success. This strategic tool can assist you in obtaining proper funding and hitting new financial milestones - potential investors will be pleased to see that you are achieving what you promised.

While conducting market research for the market analysis section of the business plan, you can also learn new things about your industry competitors. You might discover as you're describing your product for the business plan that there are some issues that need to be fixed or that the competition has an advantage that you need to be ready for. The business plan will assist you in establishing a focus on what still needs work and not stressing about things that have already been accomplished, thus helping you in achieving your goals.  

No matter what type of industry or consumer your product is dedicated to, a good business plan can greatly assist you when climbing to the top . Whether it is a traditional business plan written from scratch by you or made using business plan templates from the Internet, it is an important part of establishing a great product or service, that will influence your business growth.  

If you want to learn even more about IT business, you can read more about business plans on our blog .  

With Microsoft technologies related since 2005. He graduated from the Computer Science Faculty of the Bialystok University of Technology where he was the leader of the .NET Group and the Microsoft Student Partner. Four times finalist of the national stage of the Imagine Cup competition, and later the mentor and the jury member of the contest. Co-founder of the Bialystok .NET Group. He lectured .NET development at the Bialystok University of Technology. Microsoft MVP in the Client Application Development category in 2008-2010, when he actively participated in the IT community. Constant new technology enthusiast and IT consultant.

Technology Business Plans

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Technology is something we use every single day. Smartphones, computers, data networks, mobile apps, software, and any number of other innovative solutions that we just can’t seem to live without. Creating a great opportunity to develop a business around selling, creating, or maintaining various technologies. But to successfully do that you’ll need a business plan.

Start your plan off on the right foot by browsing these sample business plans for computer repair, computer consulting, data recovery, computer support, I.T., computer engineering, and a number of other potential businesses.

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• IT Business Plan

Article Index:

2.0 Company Description

3.0 products, 4.0 market analysis, 5.0 marketing strategy and implementation, 6.0 organization and management, 7.0 financial plan, 1.0 executive summary.

Prime contractors who receive job orders from the federal government often hire other companies to help ensure the fulfillment of the contract. If the government contract is greater than $650,000, the federal government mandates the prime contractor to provide a plan for subcontracting a portion of the work to small businesses. Information Technology Solutions (‘ITS’), is an information technology subcontractor that specializes in database management and application development support. ITS strives to provide the high quality technological business solutions with a concentrated focus on the energy and defense sector. ITS, established in 2010, is located in Charlotte, North Carolina. The company currently has five full–time staff members with expansion plans to add five more within the next three years.

ITS was formed in 2010 by Sara Jayne when she was downsized from Cap Gemini. Ms. Jayne has grown the company five-fold with the addition of five new employees and anticipates need for five more within the next three years. With over 20 years experience Ms. Jayne has successfully subcontracted with 20+ local contracts and has a pipeline of 10 more.

ITS focuses its efforts in two service areas: database and application development and support. ITS strives to foster and maintain solid relationships with its clients, fine tune its services, and continue to develop innovative business solutions that will improve the way their clients do business. Due to its small size, ITS has the unique ability to act quickly and easily meets or beats its deadlines. Its main limitation is its limited staff resources. ITS plans to expand personnel over the next three years to meet achieve a balance of supply and demand.

The purpose of this plan is to create a strategy for ITS that will increase its revenues annually by 20%, and simultaneously grow assets 25%. Overall, this business plan will provide an in–depth understanding of the company, along with a plan for growth in the future.

1.1 Business Objectives

The primary objectives of ITS are:

• Provide custom solutions with outstanding customer service– which enhances its customer’s efficiency and secures ITS long relationship via contracts and recurring projects.
• Grow company in staffing to accommodate the growing need for services by offering a dynamic work environment with flexible hours, a commitment to ongoing education, and offer bonuses to commensurate with performance and earnings.
• Focus on delivering contracts. ITS is small enough to turn ‘on a dime’ compared to its larger peers burdened with ‘red tape’ requirements. ITS has a can do attitude and is happy to get the deliverables in the most efficient manner to its clients.

1.2 Mission Statement

It is ITS mission to empower prime government contractors to meet their objectives. ITS strives to foster and maintain positive relationships with each and every client (both internal and external), by providing cutting edge technology services at reasonable and competitive prices.

1.3 Guiding Principles

Be Dedicated. Every day, consistency is key. ITS is dedicated to each and every job – down to the very last detail. It is this tenacity, attention and focus to detail on each and every project that defines the success of this organization.

Be Dependable. ITS believes that a commitment to meet all its obligations punctually, honestly and honorably. ITS believes that if you are the “go to” business, you’ll never have to worry about having to generate extra leads or word-of-mouth referrals.

Give and You Shall Receive. Give the thing you want most and you’ll be amazed at what you get in return. ITS firmly believes in this philosophy and that its efforts can be multiplied for the greater good of the company, its customers and the community.

1.4 Keys to Success

ITS considers the following factors to be the primary contributors of business success:

• Diversification of product lines and customer base
• A recurring revenue base
• Management with rounded skill set in business growth and marketing
• Sound financial management

ITS strives to foster and grow empowered relationships with prime government contractors. While small in size, the ITS team of experts has collectively has over 60 years experience in computer problem solving and solutions. With its corporate office located at 1327 S Mint Street in, Charlotte, North Carolina, ITS easily targets local prime government contractors. ITS is established as a WOSB, that is a Woman Owned Small Business as classified by the Small Business Administration.

ITS seeks long term contracts with a focus on database management and application and development. Rather than casting a broad net, ITS targets two distinct government sectors: energy and healthcare. By specifically targeting these areas of interest, ITS is the industry expert and can truly not only understand its customers’ needs but can identify solutions that are just as dynamic as the technologies and industries themselves. In turn, it is ITS belief that its customers will return time and time again for additional projects and long term contracts. ITS has future plans for some diversification and in the next ten year horizon plans to diversify its markets by incorporating the defense industry as well. In addition, the company plans to ultimately become a prime government contractor and at that time will also hire a full-time RFP (Request for Proposal) writer to win the contracts.

ITS believes that because it is already established as a WOSB, this further enhances its position in the government contract market. The federal government has both prime contracting and subcontracting goals for small businesses. More specifically, 23% of federal prime contract dollars are currently awarded to small businesses, with individual prime and subcontracting goals for certain identified small business groups. Further, the federal government must award 5% of its prime and subcontract dollars to WOSBs.

2.1 Ownership

Originally formed as a sole proprietorship, ITS recently changed its status to a Chapter S Corporation. ITS is wholly owned by Sara Jayne. Sara Jayne is the President, CEO and CFO. Ms. Jayne graduated from Duke University with a degree in Sales. She is also the Project Manager for all government subcontracts. It is her proven extreme attention to detail and commitment to these contracts that gets the awards time and time again. She has ten years of experience in the technology consulting industry as a Network Engineer and ten years of experience as a Database Administrator with Cap Gemini. Ms. Jayne is a Microsoft Certified Systems Engineer. She is also 6 Sigma certified, meaning she has received extensive training in business process improvement.

2.2 Legal Form

ITS is a Chapter S Corporation formed in 2010 doing business in the State of North Carolina.

2.3 Start-Up Summary

N/A – ITS has been operational for two years.

2.4 Location and Facilities

The corporate office of ITS is located in the heart of downtown Charlotte at 1327 S Mint Street, Charlotte, North Carolina. The city has a population of over 11,555 according to the 2010 U.S. Census Report. The residential population in the immediate area is comprised of a mixture of single family and multi-family housing. The median household income is $38,895. Major employers include Bank of America, Wells Fargo, U.S. Airways, Carolinas Healthcare System, and Duke Energy.

Charlotte has a strong technology base and unlike it peers in other technology hubs, the lower cost of living and warmer climate make Charlotte the ideal location to find (and employ) talent.

The company leases 1,200 square feet on the third floor of a 34,000 square foot high rise office building. According to Charlotte’s Chamber of commerce, the area comprising of zip code of 28202 employs some of the largest employee concentrations in the greater Charlotte MSA and is comprised of 2,388 establishments and employs a total of 51,825. Of these employees, the majority or 18,688 work in the service industry while 12,717 work in Finance/Insurance/ Real estate field. 4,560 are retail employees and 3,164 are employed in manufacturing. With easy access to Interstate 77 and U S Highway 74, the location provides easy access in the greater Mecklenburg County.

3.1 Products/Services Descriptions

ITS partners with its prime contractors and assures the production of quality deliverables from each subcontract assigned, assuring the development of long term business relationships. ITS provides the following services:

Analysis of the current technical environment, Analysis of business requirements relevant to the application architecture, Architecture definition, Application software requirements analysis, Application software testing, System level integration and testing

3.2 Competitive Comparison

The zip code 28202 is home to 15 information technology companies in addition to ITS. Because ITS is not limited to its physical location and focuses its source of business on servicing government contracts, the majority of these local companies do not compete directly with ITS.

However, due to their proximity to ITS and their similar background they are mentioned here:

Vialogix Communications Inc 501 N College St Established in 1996, and operated by Robert Norris. The company has 20 employees and annual revenues of $3.9 million. With a primarily focus in building websites. Vialogix does not directly compete with ITS. Vialogix primarily builds web sites, intranets, extranets, web-enabled applications, wireless applications and databases.

Data Recovery Charlotte 401 S Tryon St # 10 With 7 offices in the Charlotte region, 18 employees and annual revenues of $3.5 million, Data Recovery competes indirectly with ITS. They are primarily computer forensic analysis and recover data that has been corrupted or intentionally deleted. They can identify how a ‘hacker’ got past the security checks and if fortunate enough, identify the individual who caused the damages.

William Ives Consulting 320 S Tryon St Ste 213 The company has 18 employees and annual revenue of $2.7 million. The company has a primary focus on legal industry; however, they also provide automation with the way the clients chose to do business. They utilize groupware, document management and fax tools network platforms such as Microsoft Windows NT and Novell Netware.

Refresh Technologies 201 W Morehead St Ste 400 The company has 8 employees and annual revenues of $1.5 million. This is a newly established company similar to ITS. The key principal, Fae Schaefer, has 10 years experience, comparable to Ms. Jayne’s. Refresh Technologies focuses more on companies utilizing her contractors to free up their employee resource pool. Her company provides comparable services, by offering services remotely or within a hosted environment, data backup & recovery, business continuity, server and storage monitoring and management, managed security, email management, application and database monitoring and managed network services. The company also reportedly saves its customers an average of 40% when compared to its peers but this information could not be verified publicly.

3.3 Product/Service Sourcing

ITS’ key to success thus far has been the creation of clear, unambiguous subcontracts. Each subcontract has a legally binding, written contract that defines the following items:

• The legal names of the parties involved in the contract will be specified.
• The responsibilities and authorities of each party to the contract,
• A clear definition of the deliverables and minimum content to be provided by the subcontractor,
• A clear definition of the services to be provided by the subcontractor,
• Any and all constraints imposed on the subcontractor by the prime contractor, such as schedule constraints, budget constraints, specific tools to be used, and
• A clear statement of requirements for quality of deliverables and services including the requirement to allow independent quality inspections of materials and processes.
• Appropriate terms and conditions which will be imposed on both the prime contractor and the subcontractor will be identified.
• The acceptance process will be clearly identified.

3.4 Inventory Management

ITS is primarily a service based company which carries no inventory.

3.5 Warehousing and Fulfillment

Ms. Jayne is the Project Manager and delegates the specific tasks to be completed. Each subcontract, although tailored for each client generally follows these standard guidelines:

Define Scope The first step in the preparation of the Project Plan is the creation of the narrative description of the project. The narrative establishes the customer’s ultimate system objectives and provides frame of reference for reviewing the balance of the plan.

Define Deliverable The next step in the process is the definition of the deliverables. The deliverables should be defined in as much detail as possible. A well defined deliverable ensures a common understanding of what is to be delivered and establishes realistic expectations. If one of the deliverables is an operational system, a complete functional specification should be included. This will explicitly define the system for both the users and for the designers. This is important since it is the basis for measuring the success of the system. It also forces the users to ensure that all of the requirements have been included. Simply put, if the Project Plan does not define it, it will not be in the end-product.

Define the Methodology Determine how the deliverables will be acquired or produced. Refine the methodology, whether it be the customer’s or ITS’, and make any modifications necessary due to specific project needs.

Establish Project Organization The next step in the preparation of the Project Plan is the creation of a Project Organization Chart. A project will not be successful unless there is a clear understanding by all parties of who the deliverer and acceptor are. The completion and circulation of the Project Organization Chart will ensure that this takes place. The chart also identifies the other key project participants, the customer, and the project team members.

3.6 Products/Services

ITS’ current focus is twofold: database management and application development.

Database Management In general, the government sectors require old broken outdated software systems to be upgraded and stagnant legacy systems to be streamlined and operating more efficiently. Operating efficiency has become vital as the government seeks to get its arms around the largest databases in the country. The U.S. government’s information systems are clogged with a variety of old and disparate sources. Legacy systems, databases, and data warehouses are ‘clogging’ the systems As these sources and data volumes multiply, over time, it becomes to critical to incorporate, regiment and apply rules of order to avoid further data ‘glut’.

By creating a comprehensive data model, ITS offers insight into organizational needs and provides the roadmap for successful integration. Ms. Jayne leads teams with specialists in business process and data analysis, system design and integration, and business intelligence to develop solutions that deliver results.

Application Development Application development, the creation of programs that perform functions for software and hardware, are in great demand for government entities. ITS can create many applications for example, that run behind-the-scenes for tracking inventory, maintaining account balances and billing clients automatically.

Once, applications focused primarily on functionality. Today, the most complex applications focus on elements such as speed, compatibility, security, scalability and customer experience. ITS strives to create the fastest and the most user-friendly applications to meet these needs.

Future Plans ITS has future plans to expand into government contracts, and expects to hire a full-time proposal writer. Additional plans include diversification into other popular government contracting sectors such as defense. Another goal is secure a recurring base, consulting, revenue to serve as a cushion against sales declines when the spending environment deteriorates. Long-term contracts provide revenue continuity: Contracts are often five to 10 years long, and are rarely broken.

The global IT consulting & other services market had total revenue of $515.6 billion in 2010, representing a compound annual growth rate (CAGR) of 3.9% for the period spanning 2006-2010. The integration & development services segment was the markets most lucrative in 2010, with total revenues of $254.2 billion, equivalent to 49.3% of the market’s overall value. The performance of the market is forecast to decelerate, with an anticipated CAGR of 2.7% for the five-year period 2010-2015, which is expected to drive the market to a value of $587.8 billion by the end of 2015. (Data Monitor).

4.1 Industry Analysis

The U.S. information technology services industry includes about 100,000 companies with combined annual revenue of about $290 billion. Major companies include Computer Sciences Corporation (CSC), Unisys, and the technology consulting arms of IBM and Hewlett-Packard. The computer facilities management segment of the industry is also highly concentrated: the 50 largest companies generate about 80 percent of revenue. The rest of the industry is concentrated: the 50 largest companies account for about 50 percent of revenue.

Worldwide IT services revenue is about $800 billion. Leading exporters of computer and technology services include India, the US, Israel, and China, according to the World Trade Organization. Major companies based outside the US include Fujitsu (Japan), T-Systems International (a subsidiary of Germany’s Deutsche Telekom), and Cap Gemini (France). (First Research).

The market is fragmented with small players competing alongside large, multinational companies. Buyers range in size: larger buyers, with greater financial muscle, exert more buyer power. Brand recognition is likely to be of significant importance to customers and they therefore often look to a reputable company for services. Entry to this market is increasingly achieved through the diversification of operations by existing companies from other fields. Rivalry between market players is alleviated to an extent with larger players operating in other markets or offering their services to a range of industries. Skilled employees, as suppliers of technical knowledge and expertise, are an important input. On the other hand, some companies show some backwards integration with their own hardware and software capabilities, which reduces their reliance on external suppliers. (Data Monitor)

IBM Global Services is the leading player in the global IT consulting & other services market, generating a6.6% share of the market’s value. Hewlett-Packard Company accounts for a further 4.5% of the market. (Data Monitor)

4.1.1 Market Size

According to the U.S. General Services Administration the Top 100 Contractors Report is a list developed annually and tracks U.S. federal government procurement. The Top 100 Contractors Report for Fiscal Year 2010 lists contracts totaling $284.7 billion (2009: $294.6 billion). In the same period, small business contracts totaled $97.9 billion (2009: $96.8 billion). In Fiscal Year 2011, the top five departments by dollars obligated were the Department of Defense ($373.6 billion), Department of Energy ($25.1 billion), Health and Human Services ($19.3 billion), Department of Veteran Affairs ($17.4 billion), and NASA ($15.4 billion).

4.1.2 Industry Participants

The subcontractor market is flooded industry participants.

ITS’s primary competitors can be virtually almost business. In fact, any entity meeting the general requirements is a perspective competitor. The criterion to subcontract with the federal government is relatively simple. In order to do so, qualified candidates must 1) Obtain a small business certification from the U.S. Small Business Administration (SBA). The type of certification depends on the ownership, location or revenue of the subject business. Business certifications include HUB Zone, 8(a), small, women-owned, veteran-owned, Native American, Alaskan-owned and Native Hawaiian-owned. 2) The company must then register with the Central Contractor Registration, and complete an online training course. 3) The company must, be in business for at least two years prior to and apply through the Small Business Administration (“SBA”).

4.1.3 Main Competitors

ITS does not have local competitors, however, due to their proximity to ITS and their similar backgrounds they are mentioned here:

Vialogix Communications Inc 501 N College St Established in 1996, and operated by Robert Norris. The company has 20 employees and annual revenues of $3.9 million. With a primarily focus in building websites Vialogix does not directly compete with ITS. Vialogix primarily builds web sites, intranets, extranets, Web-enabled applications, wireless applications and databases.

4.1.4 Market Segments

The US Government is as diverse as the U.S. secondly itself. However, with a few exceptions, the majority of the U.S. government contracts are awarded to the following industries: aerospace, telecom, automotive, defense, insurance and social service, energy and life sciences, banking/finance, rail/naval, distribution/sales assistance, aeronautics, space, and utilities.

4.2 Market Tests

While working as an independent consultant, Ms. Jayne focused her company’s efforts on two highly sought after government contract areas: energy and healthcare. She began contracting for some of Charlotte’s lager energy provides, providing them with IT services. She currently has 30 customers including: Duke Energy, Toshiba America Nuclear Energy, Westinghouse Electric, Power Group, and The Shaw Group.

To date ITS has been awarded two government subcontracts: 1) with the Betchel Group, and 2) with General Electric. Both projects are currently underway with all milestones to date meeting/exceeding expectations. Both prime contractors had a mandatory requirement to subcontract a portion of their work. The fact that ITS is a WOSB, combined with its proven track record, and ability to move quickly on short notice, made the award process that much more appealing to the conglomerates.

4.3 Target Market Segment Strategy

ITS’ strategy is twofold: work directly with prime government contractors (such as Duke Energy) and obtain contracts indirectly (word of mouth) such as the their experience with Betchel.

4.3.1 Market Needs

In general, the government sectors require old broken outdated software systems to be upgraded and stagnant legacy systems to be streamlined and operating more efficiently. Operating efficiency has become vital as the government seeks to get its arms around the largest databases in the country. The U.S. government’s information systems are clogged with a variety of old and disparate sources. Legacy systems, databases, and data warehouses are ‘clogging’ the systems As these sources and data volumes multiply, over time, it becomes to critical to incorporate, regiment and apply rules of order to avoid further data ‘glut’.

4.3.2 Market Trends

Many areas of high technology are highly competitive and are subject to rapid, unanticipated changes. The dynamic business climate poses significant challenges requiring companies to adapt rapidly to evolving conditions. In addition, during sharp industry declines such as 2000-2001 or 2008-2009, cash balances can be depleted very rapidly. (Standard and Poor’s)

While the timing of technological change and obsolescence is difficult to predict, rapidly changing technologies with marked potential for materially eroding companies’ business and financial profiles are one of the few constants in the high technology sector. Cyclicality and technological change can create sharp declines and significant shifts in competitive dynamics, customer requirements, and buying patterns, which can rapidly reshape industry subsectors. The ongoing transformation of the data storage and semiconductor industry segments is an example of these market dynamics at work. (Standard and Poor’s)

High technology companies’ earnings and cash flows are subject to cyclicality created by the business and/or consumer cycles. In many developed countries in recent years, volatility in business/corporate sector demand has tended to be markedly greater than cyclicality in the consumer economy. Historical recessions have largely been business-driven, rather than consumer-led, but in the current recession, demand is down sharply across both consumer and business markets. (Standard and Poor’s)

Consolidation remains a long-term trend in many high technology subsectors as growth rates have slowed. Managements of larger companies view their subsidiaries as components of a portfolio that should be actively managed, a strategy generating ongoing acquisition and divestment activity. Customers want integrated solutions; in response, high technology companies are broadening their offerings through acquisitions. (Standard and Poor’s)

4.3.3 Market Growth

While prime contractors saw a decline in growth when comparing fiscal year 2010 to fiscal year 2009, sub-prime contractors actually grew over the same time period. Sub-prime contracts were reported to be $96.8 billion in year 2009 compared to $97.9 billion in 2010 representing a 1.12% increase.

Based on the growth in this market and the current government mandates to award to small businesses, it is ITS’ contention that annual grown of 20% in revenues and 25% in assets does not appear unreasonable. Further this aligns ITS with its peers of similar size which enjoy the same growth. ITS will achieve this growth with the addition of more staffing. With the addition of billable hours and the built in cushion ITS has in its billable hours, the company feels these are sound achievable financial goals. (For more information regarding this ‘cushion’ please refer to the financial analysis portion of this business plan).

4.4 Positioning

ITS has set itself apart from its competitors by 1) its narrow and targeted market focus (energy and defense) and by completely understanding industry trends. ITS is truly the market expert. 2) ITS’ extreme attention to detail in its subcontracts and project planning sets them apart from their peers. 3) Because of its small size, ITS has the ability to not only meet /exceed deadlines, but they can adapt quickly as well and on short notice. 4) All these factors lead to cost savings which in turn are passed on to their clients.

In order to grow revenues 20% annually and to keep pace with peers, ITS must sell $152,000 in new revenue or put another way, bill an additional 1,344 hours annually. ITS has built in cushions into its pricing model, which easily allows for just such an increase.

For example in proforma Year One, ITS estimates that it will bill 2,794 hours in billable revenue. (2,794 hours * $113.07 hourly rate =$315,917 in revenues). However, with a staff of 5 employees working 40 hours a week, the company has the potential for 9,600 hours annually. The additional burden of 1,344 hours could easily be absorbed by current staff. ITS, however, chose to keep a conservative estimate by basing the projected income and expenses similar to its peers.

5.1 SWOT Analysis

5.1.1 strengths.

• By utilizing its lean experienced staff, focusing on specific target markets and providing detailed project outlines, ITS provides high end consulting services at a reasonable price.
• ITS is flexible, able to ‘turn on a dime’ and meet / exceed deadlines and easily adapts to changes as needed.
• ITS pursues a minimum of 20% of its revenues in the form of contracts – which provide income stability.

5.1.2 Weaknesses

• Product obsolescence and technology changes.
• Rapid life cycle; IT industry quickly can be subject to obsolescence with the advent of new technology.
• Substitution – many of the services ITS provides can be mirrored by competitors – even worse, larger competitors although have longer turnaround times, may be able to offer lower prices due to larger economies of scale.
• Customer base is limited with a potential for concentration risk should one sector become less than profitable.

5.1.3 Opportunities

• ITS has already attained WOSB status, making them attractive to partner with in prime government contracts.
• New technologies in cutting edge in energy and healthcare industry make the Charlotte market a robust one for subcontracting.

5.1.4 Threats

• Cash flow will be critical if payment from the contractor is delayed for any lengthy time period.
• National competitors might be able to reduce their prices due to efficient in economies of scale.

5.2 Strategy Pyramid

ITS plans on achieving a minimum of 20% of its revenues in the form of recurring consulting base, to cushion against revenue decline when the spending environment deteriorates. Long-term outsourcing contracts provide revenue continuity: Contracts are often five to ten years long, and are rarely broken. ITS plans on achieving this goal by providing top notch service to its customer base with detailed follow-ups and reviews. By keeping its narrow focus on target markets and needs, ITS can quickly alert clients of improvements and new technologies. With its commitment to training and education, ITS employees can readily adapt and perform routine upgrades. These services are often built into the contracts up front, automatically generating residual income.

5.3 Unique Selling Proposition (USP)

ITS has set itself apart from its competitors by 1) its narrow and target market focus (energy and defense). By completely understanding industry trends and trends ITS is truly the market expert. 2) ITS’ extreme attention to detail in its subcontracts and project planning sets them apart from their peers. 3) Because of its small size, ITS has the ability to not only meet /exceed deadlines, but they can adapt quickly and on short notice. 4) All these factors lead to cost savings which in turn are passed on to their clients in the form of cost savings.

5.4 Competitive Edge

That fact that ITS works with both local government contractors, has a narrow, specific targeted customer base, combined with WOSB status and a proven track record, gives ITS an edge over the competition.

5.5 Marketing Strategy and Positioning

ITS is uniquely poised as government subcontractor by its narrow focus on the energy and healthcare sectors. This focus allows for detailed models, specifically targeted to these industries. ITS utilized a focus strategy – and positions itself to cater to the needs of a narrowly defined market.

5.5.1 Positioning Statement

ITS’ goal is to be the premier subcontractor in the energy and healthcare sector. By, crafting detailed project plans, utilizing detailed models, defining the deliverables and anticipating the steps needed to complete each a and every project they undertake. ITS with its talented pool of in house talent perform all the work themselves, keeping overhead low and passing the savings onto their clients. ITS is not mired in red tape and can readily meets its milestones and deadlines and adapts easily to change. ITS motto is ‘We don’t just get the job done the first time, we get it done right”.

5.5.2 Pricing Strategy

ITS charges a flat rate of $113 per hour

• One hour on–site minimum
• The flat rate does not increase because of emergencies

5.5.3 Promotion and Advertising Strategy

ITS relies primarily on direct marketing by word of mouth. Ms. Jayne is a member of the Charlotte Chamber of Commerce and has promoted the business by word of mouth and volunteering for many of the chamber events and sponsoring happy hours and corporate luncheons.

The company has a website which is another marketing tool.

ITS plans to join IT Energy Trade Groups and IT Healthcare Trade Associations.

5.5.4 Website

The ITS website identifies who the company is, a brief history, and services and products provided. The website has a “Who We Are” section featuring pictures and brief biographies of the ITS staff. The site has links to related sites such as SUB-net a database that lists all opportunities from government contractors and FedBizOpps.gov, the searchable federal opportunities database.

The website features case studies with actual clients with needs and benefit analysis.

5.5.5 Marketing Programs

ITS, with its limited budget, will rely heavily on face to face time with contacts. Through her extensive contacts while made working in the industry, Ms. Jayne plans to continue meeting directly with prospects. The IT community is close-knit and word travels quickly.

5.6 Sales Strategy

It is impractical to have a try before you buy in the IT field; however, ITS likes to present its prospects with the next best thing, an initial free consultation and evaluation. The potential client is given a detailed questionnaire to complete and forwarded to ITS for review. The questionnaire is invaluable and helps ITS determine options best suited for the client. ITS thoroughly believes that by truly understanding their customers, they can create custom Project Plans and win subcontracts.

5.6.1 Sales Forecast

ITS expects to grow revenues 20% annually over the next three years. In order to grow revenues 20% annually and to keep pace with peers, ITS must sell $152,000 in new revenue or put another way, bill an additional 1,344 hours annually. ITS has built in cushions into its pricing model, which easily allows for just such an increase.

For example in proforma Year One, ITS estimates that it will bill 2,794 hours in billable revenue. (2,794 hours * $113.07 hourly rate =$315,917 in revenues). However, with a staff of 5 employees working 40 hours a week, the company has the potential for 9,600 hours annually (or $1,085,472). The additional burden of 1,344 hours could easily be absorbed by current staff. This business plan however employs a more conservative approach with sales and assets reflective of industry peers.

Table 5.6.1 Annual Sales Forecast

5.6.2 Sales Programs

ITS awards it employees with a lucrative incentive package to include bonus and profit sharing. For the initial three years employees will receive small bonuses, but over time, bonuses and profit sharing will commensurate with annual revenues.

ITS is a Chapter S-Corporation doing business in the State of North Carolina. The company is wholly owned by Sara Jayne.

5.8 Milestones

The following milestones will assist ITS in gauging its target metrics.

Table 5.8 Milestones

5.9 Exit Strategy

If revenues fall below break-even for four consecutive periods, the company will not have sufficient cash flow or working capital to meet operating needs. At such time, the company would require liquidation and disposal of assets, primarily the computers and hardware. Secured creditors would be paid first, then unsecured with the remainder to the investor(s).

6.1 Organizational Structure

ITS is an S-Corporation wholly owned by Sara Jayne. She currently has five employees on her staff – including one database administrator and four programmers.

6.2 Management Team

ITS is a Chapter S Corporation wholly owned by Sara Jayne. Sara Jayne is the president, CEO and CFO of ITS. Sara graduated from Duke University with a degree in Sales. She is also the Project Manager for all government subcontracts. It is her proven extreme attention to detail and commitment to these contracts that gets the awards time and time again. She has ten years experience in the technology consulting industry as a Network Engineer and ten years as a Database Administrator with Cap Gemini. Ms. Jayne is a Microsoft Certified Systems Engineer. She is also 6 Sigma certified, meaning she has received extensive training in business process improvement.

ITS will utilize a local accounting firm and outsource its payroll and taxes.

6.3 Management Team Gaps

6.4 personnel plan.

The following table demonstrates the budget requirements for ITS staff over the next three five years.

Table 6.4 Personnel Plan

6.5 Board of Directors

The financial plan will cover the following:

• Required Cost of Start-Up
• Profit and Loss
• Balance Sheet
• Financial Ratios

7.1 Important Assumptions

MM = 1,000,000

The estimated average billable rate: $113.07 per hour; this analysis employs a conservative billing rate; this model can easily be adapted to demonstrate higher hourly billing providing additional ‘cushion’ to the financial analysis.

INCOME STATEMENT ASSUMPTIONS

The company currently employs one database administrator and four programmers.

Company plans to hire two additional programmers in Year Two

In Year Three, the company plans to hire three additional programmers

Estimate the company will grow revenues 20% annually and assets by 25% (coincides with industry peers).

The company assumes to generate additional 20% in revenue streams from residuals created by long term contracts

Advertising expense is estimated to be .93% of revenues

Accounting and Legal is estimated to be 4.76% of revenues. Primarily this will be attributed to a tax service for the purposes of payroll and income taxes.

Legal expenses will be minimal, but in the event the company creates a patent, then this expense could potentially increase.

Professional Fees represent s.57% of revenue and compares favorably with industry peers

Annual rent is $9,600 or 2.43% of revenue in Year One. The company occupies 1,200 square feet of a 34,000 square foot building located at the desirable Mint Street location in heart of downtown, Charlotte, North Carolina.

Wages represent the largest component of annual expenses and are estimated to be $296M in Year One, $409M in Year Two, and $580M in Year Three. Like its peers, the IT Company’s largest expense is in the form of wages, salaries and bonuses.

BALANCE SHEET ASSUMPTIONS

The company was formed two years ago as a sole proprietorship and recently reorganized as an S-Corporation. Rather than owner’s contribution, the owner advanced approximately $33M in the form of loan to be repaid. The loan is fully amortizing based on a five year term.

7.2 Start-Up Costs

Although not technically a ‘start-up’, initial expenses include working capital and computer hardware and software.

Table 7.2 Start-Up Costs

7.3 Source and Use of Funds

The source of funds for the initial funding were in the form of owner contribution and loan to owner the loan is fully amortizing over at 6.25% over a five year term.

7.4 Break-Even Analysis

As a service provider, ITS has no cost of goods sold or overhead. Rather than try to consider employees wages as overhead, the break even chart below demonstrates the point where fixed costs less variable costs (in terms of billable hours ) equals zero.

Table 7.4 Break-Even Analysis

7.5 Projections

7.5.1 projected profit and loss.

Company’s gross profit appears in line when compared with peers. As a service provider they have little or no overhead. In addition to billable hours, the IT Company needs to strive for residual income in the form of long term contracts. This repeat business will act as a cushion in the event of an economic downturn.

Over the three year estimate, the company’s total expenses appear in line with industry peers based on same sized revenues and assets. Total expenses approximate 93% of total revenues.

Salaries, wages and bonuses represent the largest component of expenses. To retain talent and get the higher billable hours, comes with a price. Offsetting this however, is barring any unforeseen expenses; this industry enjoys high profit margins, typically above 6%.

Table 7.5.1 Pro Forma Profit and Loss

7.5.2 Projected Cash Flow

The statement of cash flow shows the incoming and outgoing cash of the business.

Table 7.5.2 Pro Forma Cash Flow

7.5.3 Projected Balance Sheet

Liquidity is key in this industry. Cash and trade receivables represent approximately 53% of total assets, resulting in positive working capital and cash flow. Right now, this company is enjoying the benefits of positive cash flow, but as has been seen in the past, this industry is economically sensitive and the similar downturns such as those of as 2000-2001 or 2008-2009 could quickly deplete cash reserves. IT companies must also maintain liquidity to keep current with technology. As new technology advances, the IT Company must be prepared to keep pace and make smart purchases to partner with this technology.

Table 7.5.3 Pro Forma Balance Sheet

7.6 Business Ratios

Because of the high level of business risk, many IT companies’ financial risk and leverage profiles tend to be more conservative, characterized by relatively high levels of equity capital, modest debt, and often substantial cash reserves accumulated because they need cash available to protect against cyclicality and unexpected downturns in earnings. (Standard and Poor’s)ITS’ business ratios also demonstrates these attributes.

Table 7.6 Ratio Analysis

Computer Training Center Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Education Sector

Are you about starting a computer training center? If YES, here is a complete sample computer training center business plan template & feasibility report you can use for FREE .

Okay, so we have considered all the requirements for starting a computer training center. We also took it further by analyzing and drafting a sample computer training center marketing plan template backed up by actionable guerrilla marketing ideas for computer training centers. So let’s proceed to the business planning section.

If you are interested in starting a business in the ICT industry, one of the options open to you especially if you are interested in imparting knowledge is to open a computer training center. Just like most businesses in the ICT industry, computer training center business is open to as many people that are interested in the industry as long as they have the required experience and qualifications.

In order to capture a fair share of the available market in your location, you would need a good website that is Search Engine Optimization (SEO) compliant. The truth is that your website ensures that your business remains visible to your customers. You can even ensure that your customers get to book and pay online so as to make it more convenient for them.

Lastly, you would need a good business plan to be able to launch a successful business and below is a workable computer training center business plan template that will help you to draft yours.

A Sample Computer Training Center Business Plan Template

1. industry overview.

The computer training services industry is made up of centers that offer vocational and technical courses. They also provide courses in computer programming, which include curriculums for software packages, computerized business systems, computer electronics technology and local area network management.

It is important to state that computer training centers may also train their students via online platforms. The computer training services industry provides vocational and certification training in a range of IT-related skills. The industry provides training in computer programming, software development, computer electronics technology and network administration.

Players in this industry range from small private companies providing certified training in specific IT areas, to larger software companies providing training and certifications in their proprietary software such as SAP, Oracle and IBM. Going forward, the computer training services industry is expected to continue declining as competition from other forms of higher education and online learning platforms continue to reduce enrollment in computer training centers.

The Computer Training Services Industry is indeed a large industry and pretty much active in all the countries of the world.

Statistics have it that in the united states of America alone, there are about 16,195 registered and licensed computer training centers scattered all across the United States responsible for directly employing about 2,329 people and the industry rakes in a whooping sum of $3 billion annually.

The industry is projected to grow at -0.4 percent annual growth within 2012 and 2017. It is important to state that SkillSoft has a largest chunk of the available market in the industry.

Please note that the computer training industry has low barriers to entry. The majority of the businesses in this industry are owner operated, and there are few major players that control significant portions of the industry’s total market. In addition, classroom facilities and equipment can be rented on an as-needed basis, resulting in relatively low initial infrastructure costs.

The main factors that may prevent new players from joining the industry include course development and accreditation costs, as well as a moderate level of regulation. Among computer training schools, rapidly changing technology can be costly. Operators must balance the benefit of offering up-to-date courses with the cost of producing such coursework.

The tough part as it relates to start-up costs most likely is the need to secure a standard and well – positioned facility. Regardless of moderate barriers to entry, the competitive nature of the industry makes it very difficult for new operators to break even within a short period of time in the industry.

Lastly, the computer training school services industry is pretty much open for aspiring entrepreneurs to launch their business in the industry.

One good thing about computer training center business is that the business can be opened in any part of the United States and if proper market survey and feasibility studies are conducted, then you can be rest assured of profitability of the business.

2. Executive Summary

The name of our business is Pinnacle Hub® Computer Training Center, LLC; we are a registered and accredited computer training school that will be located in Atlantic Avenue, – Delray Beach, Florida. We are registered under the United States’ Government. We are well equipped to train people that want to acquire computer or IT related skills.

Pinnacle Hub® Computer Training Center, LLC will offer computer cum IT trainings such as computer programming, computer software package training, computer systems and database training, computer electronics technology training, Local area network (LAN) management training and vocational training.

We are set to service a wide range of clientele in the whole of Atlantic Avenue – Delray Beach, Florida, we will ensure that we regularly update our teaching approach to meet up the trend in the industry.

At Pinnacle Hub® Computer Training Center, LLC we are passionate in the pursuit of excellence with uncompromising services and integrity which is why we have decided to start our own computer training center in Atlantic Avenue – Delray Beach, Florida; we are in the industry to make a positive mark.

We are quite optimistic that our values and quality of service offering will help us drive our computer training center to enviable heights and also help us attract the number of students that will make the business highly profitable. Our company will be dedicated to establishing good business relationship with our students giving them value for their money and reasons why they should continue to recommend their family members and friends to us.

We are in the computer training Industry to favorably compete with other leading brands in the industry both in the United States and in the globe. Our corporate business goal is to be among the top 5 computer training schools in the United States of America.

As a company, we are willing to go the extra mile to invest in some of the finest professionals (computer cum ICT trainers / instructors) we can find and also, we have put processes and structures in place that will ensure that we are always at the top of our game when it comes to impacting knowledge as it relates to our computer training services. We have been able to secure permits from all relevant departments in the State of Florida.

We are quite aware that in order to become the number one choice in our city, we must continue to deliver quality and practical computer training and that is exactly what we will do. We are open to the use of latest technology in our line of business.

Pinnacle Hub® Computer Training Center, LLC is owned and managed by Edgar Jones and his immediate family members.  

Edgar Jones has a Degree: B.S. in Electrical Engineering from the Massachusetts Institute of Technology; M.S. degree in Computer Science at the University of Wisconsin-Milwaukee; MBA from the University Of Chicago Booth School Of Business.

3. Our Products and Services

Pinnacle Hub® Computer Training Center, LLC is an accredited computer training school that offers a wide range of training services that revolves around the computer training industry. We will be dedicated to establishing good business relationship with our students by giving them value for their money and reasons for why they should continue to recommend their family members and friends to us.

We are in the computer training industry to make profits and we will ensure that we do all that is permitted by the law in the United States to achieve our business aim and objectives. These are the services we will offer as a computer training center;

• Provision of programming training
• Provision of software package training
• Provision of computer systems and database training
• Provision of computer electronics technology training
• Provision of vocational training
• Local area network (LAN) management training

4. Our Mission and Vision Statement

• Our Vision is to become the number one government approved computer training school in the whole of Atlantic Avenue, – Delray Beach, Florida, United States of America.
• Our mission as a government approved computer training school is to develop a highly successful, and profitable computer training center which provides quality training in our community and to become a standard for computer training schools not only in Atlantic Avenue, – Delray Beach, Florida, but also throughout the United States of America and Canada where we intend attracting students.

Our Business Structure

Pinnacle Hub® Computer Training Center, LLC is aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our computer training center on the right business foundation.

As a matter of fact, we will build a computer training center that will be a standard for the computer training school line of business in the United States of America.

We want to build a dedicated workforce that will go all the way to ensure that our students are satisfied and they get value for their money when they enroll in our computer training school.

We aware that it takes a business with the right employees and structure to achieve all what we have set to achieve, which is why we will be putting structures and standard operating processes in place that will help us deliver excellent training to our students.

Pinnacle Hub® Computer Training Center, LLC will employ professionals and skilled people to occupy the following position;

• Head of The School / School Coordinator

School Administrator

ICT Instructors

Marketing and Sales Executive

Client Service Executive

5. Job Roles and Responsibilities

Head of the School / School Coordinator:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions.
• Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Responsible for overseeing the smooth running of HR and administrative tasks for the computer training school
• Design job descriptions with KPI to drive performance management for tutors (ICT instructors)
• Regularly hold meetings with key stakeholders to review the effectiveness of the schools’ Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Responsible for training, evaluation and assessment of employees
• Oversees the smooth running of the daily activities of the school.
• Responsible for handling computer cum IT trainings such as computer programming training, computer software package training, computer systems and database training, computer electronics technology training, Local area network (LAN) management training and vocational training et al
• Accesses the progress of students under their care
• Ensure that students abide by the rules and regulations of the regulating bodies in the United States of America
• Receives complaints from students and channel it to the appropriate quarters
• Handles any other duty as assigned by the school coordinator.
• Identifies, prioritizes, and reaches out to new students, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the student’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding sales
• Helps to increase sales and growth for the school.
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization.
• Welcomes students and visitors by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with students on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the school coordinator in an effective and timely manner
• Consistently stays abreast of any new information on the schools’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to students when they make enquiries
• Distributes mails in the organization

6. SWOT Analysis

Computer training school is one of the many businesses that can easily generate business deals with little stress as long as they are well positioned and equipped to carry out their trainings. We are building a standard computer training center which is why we have decided to subject our business idea to SWOT Analysis.

Ordinarily we can successfully run a normal computer training center without the stress of going through the required protocol of setting up a new business including writing a detailed business plan, but because of the nature of the kind of computer training center we want to establish, we don’t have any option other than to follow due process.

We hired the services of a Business consultant with bias in startups to help us conduct SWOT analysis for our company and she did a pretty job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Pinnacle Hub® Computer Training Center, LLC;

Pinnacle Hub® Computer Training Center, LLC is centrally located in a densely populated residential estate in the heart of Atlantic Avenue, – Delray Beach, Florida; our location is in fact one of our major strengths because we are in a location with the right demography for the kind of business we run.

Another strength that counts for us is the power of our team. We have a team that are considered experts in the computer training school line of business, a team of hardworking and dedicated individuals.

Pinnacle Hub® Computer Training Center, LLC is a new business which is owned by an individual (family), and we may not have the financial muscle to sustain the kind of publicity we want to give our business.

• Opportunities:

We are centrally located in one of the busiest areas in Delray Beach – Florida and we are open to all the available opportunities that the city has to offer. Our business concept and staff strength also positioned us to accommodate over 200 students per time.

The truth is that there are no standard computer training centers within the area where ours is going to be located; the closest one to our proposed location is about 6 miles away. In a nutshell, we do not have any direct competition within our target market area.

Some of the threats that are likely going to confront Pinnacle Hub® Computer Training Center, LLC are unfavorable government policies , seasonal fluctuations, demographic / social factors, downturn in the economy which is likely going to affect consumers spending and of course emergence of new competitors within the same location where our computer training center is located.

7. MARKET ANALYSIS

• Market Trends

The key to attracting students is the ease at which students learn different computer skill sets in a training school. Any computer training center that has good records and loads of positive testimonials from students who have passed through the school will always thrive.

Another common trend in the computer training industry is that in the bid to survive global economic meltdown and to ensure steady flow of income to effectively run the business, most players in the industry engage in other related services.

Some of them even go as far as establishing agency services to provide certified ICT professionals for clients and some also offer specialized home training for executive students et al.

8. Our Target Market

Before choosing a location for our computer training center, we conducted thorough feasibility studies and market survey and we were able to identify those who will benefit greatly from our service offerings. Basically, those who will benefit from our service offering are students and workers, people who want to get ICT skills and certifications.

Our Competitive Advantage

Despite the fact that the computer training center business has stiff huddles to scale through does not mean that there are no real competitions in the industry. The truth is that no matter the line of business that you are involved in, as long as it is called business, you will definitely face one form of competition or the other and computer training school is not an exemption.

So, if you are looking towards setting up this type of business, it is advisable to do your due diligence before launching the business if indeed you want to succeed. We are well trained and equipped to compete in the computer training school services industry in the United States of America.

Our competitive edge is that we are a government approved computer training center that is centrally located in a densely populated residential estate in the heart of Delray Beach – Florida; our location is in fact one of our major strengths because we are in a location with the right demography for the kind of business we run. Another strength that counts for us is the power of our team.

Lastly, we have the ability to develop courses for new technology, we have a good reputation and the ability to alter services in favor of market conditions.

Plus, all our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Pinnacle Hub® Computer Training Center, LLC is established with the aim of maximizing profits in the computer training school services industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis. Pinnacle Hub® Computer Training Center, LLC will generate income by offering the following services;

10. Sales Forecast

The fact that the ICT industry is gaining prominence in various aspects of our daily business, means that the services of computer training schools will always be needed.

We are well positioned to take on the available market in and around Delray Beach – Florida and we are quite optimistic that we will meet our set target of generating enough profits from our first six months of operation and grow our computer training center and our student base.

We have been able to critically examine the computer training school line of business, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.

• First Fiscal Year: N240, 000
• Second Fiscal Year: N650, 000
• Third Fiscal Year: N950, 000

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown or any major competitor offering the same services as we do within the same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

The marketing strategy for Pinnacle Hub® Computer Training Center, LLC is going to be driven by excellent customer service and quality training delivery. We want to drive sales via the output of our jobs and via referral from our satisfied students.

We are quite aware of how satisfied students drive business growth especially businesses like computer training schools.

Pinnacle Hub® Computer Training Center, LLC is strategically located and we are going to maximize the opportunities that are available to us, which is why we spent more to locate the business where it will be visible and accessible to our target market.

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be equipped to meet the overall goal of Pinnacle Hub® Computer Training Center, LLC.

Our goal is to grow Pinnacle Hub® Computer Training Center, LLC to become the leading computer training center in Delray Beach – Florida which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with in our line of business.

Pinnacle Hub® Computer Training Center, LLC is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our computer training center by sending introductory letters alongside our brochure to schools, corporate organizations and other key stake holders in and around Delray Beach – Florida
• Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
• Use friends and family to spread word about our computer training center
• Post information about our computer training center and the services we offer on bulletin boards in places like schools, libraries, and local coffee shops et al
• Place a small or classified advertisement in the newspaper, or local publication about our computer training center and the services we offer
• Leverage on referral networks such as agencies that will attract students who would need our services.
• Advertise our computer training center in relevant entertainment magazines, newspapers, TV and radio stations.
• Attend relevant expos, seminars, and business fairs et al to market our services
• Engage in direct marketing approach.
• Encourage the use of Word of mouth marketing from loyal and satisfied students.
• Join local chambers of commerce and industry and other relevant groups to market our services.

11. Publicity and Advertising Strategy

Pinnacle Hub® Computer Training Center, LLC is set to create a standard for the computer training school line of business not only in Delray Beach – Florida, but throughout the United States of America which is why we will go all the way to adopt and apply best practices to promote our business.

Good enough there is no hard and fast rule on how to advertise or promote a business like a computer training school. Here are the platforms we intend leveraging on to promote and advertise Pinnacle Hub® Computer Training Center, LLC;

• Encourage our loyal students to help us use Word of Mouth mode of advertisement (referrals)
• Advertise our business in relevant education cum ICT magazines, local newspaper, local TV and radio stations
• Promote our business online via our official website
• List our business inn local directories (yellow pages)
• Sponsor relevant community programs
• Leverage on the internet and social media platforms like Instagram, Facebook, twitter, et al to promote our brand
• Install our billboards in strategic locations all around Delray Beach – Florida
• Direct coupon mailing approach
• Distribute our fliers and handbills in target areas
• Ensure that all our staff members wear our customized clothes; all our official cars are customized and well branded.

12. Our Pricing Strategy

Pinnacle Hub® Computer Training Center, LLC will charge our students flat fees except for few occasions where there will be need for us to charge special students on hourly basis.

At Pinnacle Hub® Computer Training Center, LLC we will keep our fees below the average market rate for all of our students by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to all our students at regular intervals.

We are aware that there are some students that would need special assistance, we will offer flat rate for services that will be tailored to take care of such students’ needs. The prices of our services will be same as what is obtainable in the open market.

• Payment Options

The payment policy adopted by Pinnacle Hub® Computer Training Center, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation in the United States of America. Here are the payment options that Pinnacle Hub® Computer Training Center, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via online bank transfer
• Payment via mobile money platform
• Payment via Point of Sale Machines (POS Machine)
• Payment via check
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our clients make payments for our services. Our bank account numbers will be made available on our website and promotional materials.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for your workers to be creative and productive.

This means that the start-up can either be low or high depending on your vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a standard computer training school; it might differ in other countries due to the value of their money. We have been able to pull cash that will be enough for us to successfully launch a government approved computer training center in Delray Beach – Florida. These are the key areas where we will spend our startup capital on;

• The total fee for registering the business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits – $1,500.
• Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of – $10,000.
• The total cost for hiring Business Consultant – $5,000.
• The amount needed for the purchase of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
• The total cost for the purchase of accounting software, CRM software and Payroll Software – $3,000
• The total cost for leasing facility for the business – $150,000.
• The total cost for the purchase of computers, laptops and other related software and hardware – $280,000
• Other start-up expenses including stationery – $1000
• Phone and utility deposits – $3,500
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
• The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, snooker board, tables and chairs et al) – $ 4,000.
• The cost of launching a Website – $600
• The cost for our grand opening party – $15,000
• Miscellaneous – $5,000

Going by the report from the market research and feasibility studies conducted, we will need about four hundred and fifty thousand ( 450,000 ) U.S. dollars to successfully set up a medium scale but standard computer training center business in the United States of America.

Generating Startup for Pinnacle Hub® Computer Training Center, LLC

Pinnacle Hub® Computer Training Center, LLC is a business that will be owned and managed by Edgar Jones and his immediate family members. They are the sole financiers of the business which is why they decided to restrict the sourcing of the start up capital for the business to just three major sources.

These are the areas we intend generating our startup capital;

• Generate part of the startup capital from personal savings and sale of his stocks
• Generate part of the startup capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $150,000 ( Personal savings $100,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Pinnacle Hub® Computer Training Center, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our ICT training services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Pinnacle Hub® Computer Training Center, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check: Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Securing a standard facility and reconstructing the facility: Completed
• Purchase of reliable computers, laptops, hardware and software: Completed
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the startup capital from the founders: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of Logo for the business: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the needed furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
• Creating official website for the business: In Progress
• Creating Awareness for the business: In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in various industries: In Progress

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Information technology proposal templates

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Information Technology Proposals

In the age of across-the-board digitalization, the IT industry has become the powerhouse of technological progress and the locomotive of high-tech transformations that penetrate an ever-growing number of domains. The spike in demand for software products has caused the appearance of thousands of developing companies that offer their services to the global pool of customers. Given the vast number of competitors in the IT realm, vendors face the major challenge of reaching out to their clientele. How can they address it?

There are dozens of factors that can help developers to find their customers and cinch the deal. They hire vetted professionals in the niche, keep abreast of the new technologies cropping up constantly, trim their portfolios, increase the scope of services they render, and leverage testimonials from previous clients. However, the first and oftentimes tipping impression about your company that a consumer of digital services gets comes from an IT services proposal you send them.

Must-Have Elements of a Solid IT Business Proposal

The overarching goal of a business proposal in any sphere is to convince the customer that your company is the best candidate to opt for if they want to obtain a high-quality product or service at an affordable price. You can reach this goal if your information technology proposal example contains the following items. 

• Summary and objectives. Here you define the main purpose of the proposal, the expected deliverables, as well as the stakeholders who will benefit from the project’s results.
• Project description. This is the core of an IT solution proposal template that covers the project background, the identification of the problem, and the strategy for dealing with it.
• Costs. The section gives the total cost of the future project with the budget breakdown according to the stages the project will go through. 
• Methodologies. It is the operational part of the tech proposal sample, where you outline the techniques you are going to utilize and justify the employment of each one.
• Project plan. Here you offer a step-by-step roadmap where key activities, milestones, and dates are mentioned, and outcome measurement metrics are enumerated.
• Timeframe. This is not only about determining the kick-off and the finishing dates. A good technical proposal example also contains the expected dates when every milestone is due.
• Project management and resources. In this section, you list the resources that should be allocated to see the project through and specify tools and communication channels (together with collaboration details) that the organization of the project implementation will rely on.
• Risk assessment. The customer must be aware of risks related to the endeavor, especially if you are pitching a project of your own and looking for investments.

As you see, composing a compelling proposal is a no-nonsense task that requires time and skill. If you lack either of them (or both), it is wise to make use of the free tech business proposal templates our company offers. 

Enjoy IT Technology Proposal Templates by PandaDoc

At our site, you can find a great roster of proposal templates and other forms for different use cases in the IT sphere.

• IT Services Proposal Template. Leveraging it, you can offer various IT services to potential clients and showcase the perks of your cooperation with them.
• Statement of Work Template. In this customizable form, parties stipulate activities, deliverables, and timetables of IT projects they undertake to complete. 
• Software Development Agreement Template. This document deals with a more specific kind of job in the IT sector – building a software product, where the responsibilities and warranties of an IT vendor are listed.
• Software Maintenance Agreement Template. It is a kind of IT support contract two parties sign when one of them provides maintenance services to the other.
• Outsourcing Services Contract Template and Service Contract Template. They contain samples of a typical agreement to be signed between an IT service provider and the consumer of outsourced services.
• Technical Proposal Template. It comes into play when a company has a concept of an IT product and is seeking investors to finance its implementation.
• Telecommuting Agreement Template. If an IT specialist prefers to work remotely (which in our post-COVID next normal is getting significant traction), this document will help them to formalize their relationships with the employer.

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Streamline the presentation of your business quotes and agreement signing with IT document templates offered by PandaDoc!

FAQ: IT Proposals

How do you write a business proposal for an it company using pandadoc.

Thanks to us, you don’t have to rack your brains over either the structure of an IT proposal or its content. Competently devised templates available on our site contain the necessary information an IT vendor needs to present its services to the customer in an explicit and understandable way, showcase its edge over rivals, and finally cinch the deal.

What is an ICT proposal?

When an organization posts a job in the realm of information and communications technology (ICT), software vendors take part in this auction of a kind by sending their proposals to potential customers. Its major purpose is to convince the client that they are the best fit for the task. In the proposal, IT companies outline the way to reach the goal as well as estimate the time and budget needed for the implementation of the project.

What are the four parts of a proposal?

A business proposal in the IT sphere must be devised in such a way that will make the potential customer opt for your company over other candidates for a job. To do this, the proposal must contain:

• A short introduction
• The summary of the problem the employer faces
• The description of the way you plan to solve it, where the cost and the timeframe of the project are mentioned
• Information about your organization with credentials from the previous clients.

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• Country Code *
• Phone Number *
• How did you hear about us? * How did you hear about us? (Required) Immigration Attorney Friend Google Ads Google Search Webinar Tradeshow French Founders AILA FACC Consultant Real Estate Agent Accountant/CPA Business Broker LinkedIn Facebook BBB Other
• What is the attorney's name?
• What is the tradeshows name?
• What is the consultant name?
• What is the real estate agent name?
• What is the accountant/CPA name?
• What is the business broker name?
• Company Name
• Do you have a website? Do you have a website? (Optional) Yes, I do. No, I don't.
• What is your website address? (Optional)
• Do you need help with branding/logo, website, or marketing services? Would you like help building a website for your business? (Optional) Yes, please! No, thank you.
• When would you expect to need to start these services? (Optional) How soon would you like to be contacted about building a website? (Optional) ASAP! Once I start my business plan. After my business plan is finalized. After my visa is approved. I'll reach out when I'm ready.
• Other Industry
• How Do you Prefer To Be Contacted? * How Do you Prefer To Be Contacted? (Required) Phone Email Whatsapp Skype Wechat
• What Language Do You Prefer To Speak? (Optional) What Language Do You Prefer To Speak? (Optional) English Spanish Portuguese French Chinese Russian Other
• Other Language
• I am....(Required) * I am....(Required) Applying For A Visa An Immigration Attorney A Start-Up An Established Business An M&A Firm A Business Broker Other
• Select A Business Stage (Optional) Select A Business Stage (Optional) Idea Pre-revenue Post-revenue I'm not sure
• What Is Your Average Deal Size (Optional) What Is Your Average Deal Size (Optional) Under $1M $1-10M $10-20M Over $20M
• What Service Are You Interested In? - ALL (Required) * What Service Are You Interested In? (Required) Immigration Business Plan SBA/Bank Loan Business Plan Franchise Business Plan Grant Business Plan Landlord Deck Market Research Marketing & Sales Plan Financial Model Investor Business Plan Pitch Deck Feasibility Study Idea Selection Capital Raise Strategic Business Plan Debt Financing Confidential Information Memorandum (CIM) Executive Summary Teaser Other
• What Service Are You Interested In? - Startup (Required) * What Service Are You Interested In? (Required) SBA/Bank Loan Business Plan Grant Business Plan Market Research Marketing & Sales Plan Financial Model Investor Business Plan Pitch Deck Feasibility Study Idea Selection Capital Raise Strategic Business Plan Debt Financing Executive Summary Teaser
• What Service Are You Interested In? - M&A Advisor & Business Broker (Required) * What Service Are You Interested In? (Required) Confidential Information Memorandum (CIM) Executive Summary Teaser
• What Service Are You Interested In? - Established Business What Service Are You Interested In? (Required) SBA/Bank Loan Business Plan Franchise Business Plan Grant Business Plan Landlord Deck Market Research Marketing & Sales Plan Financial Model Investor Business Plan Pitch Deck Feasibility Study Idea Selection Capital Raise Strategic Business Plan Debt Financing Executive Summary Teaser
• Other Service
• Visa Type? * What Immigration Business Plan Visa Type Do You Need? (Required) E2 L1 EB2 NIW EB5 Direct EB-5 Regional Center H1B O1 EB1A EB1C Canada I am not sure
• Are you the Visa Applicant? Are you the Visa Applicant? (Optional) Yes, I am the visa applicant No, I'm not the visa applicant
• What is your relationship to the visa applicant? What is your relationship to the visa applicant? (Optional) Family Friend Attorney Other
• Other relationship
• Is this a New Application, RFE, Renewal or Denial? Is this a New Application, RFE, Renewal or Denial? (Optional) New Visa Application RFE Renewal Denial I don't know
• Do you have a deadline? * Do you have a visa application deadline? (Optional) Yes, I have a deadline No, I don't have a deadline
• By When? MM slash DD slash YYYY
• Details/Notes?
• Google Re-Captcaha
• Name This field is for validation purposes and should be left unchanged.

• E2 Visa Business Plan

Plan Discounts

Segments & Industries

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For Sprint customers:

Unlimited business plans for all your devices.

During congestion, heavy data users (>50GB/mo. for most plans) and customers choosing lower-prioritized plans may notice lower speeds than other customers; see plan for details. Video typically streams on smartphone/tablet in SD quality.

Business tablet plans.

Give your workforce the speed to connect and the tools to collaborate where work happens with the power of our network and innovative data plans for tablets.

All business data plans for tablets include these benefits:

Unlimited messaging, unlimited data on 5g & 4g lte network (5g access with compatible device and coverage area), unlimited texting from within the us to any international country, 200mb domestic data roaming, optimized video streaming at 480p, unlimited messaging and 5gb high-speed data in 11 european countries.

During congestion, heavy data users (>50GB/mo. for most plans) and customers choosing lower-prioritized plans may notice lower speeds than other customers; see plan for details. Video typically streams on smartphone/tablet in SD quality. See full terms

Featured tablet plans.

Business unlimited for tablets with 10gb high-speed hotspot data..

Pricing with Autopay & elig. payment method and addition of a voice line. Plus taxes and fees. See full terms

Business Unlimited with 20GB high-speed hotspot data.

Get the new tab a9+ 5g on us..

Experience more room for business productivity on a large 11" screen with advanced display for enhanced multitasking, and a bigger battery for longer run time. Plus get unlimited 5G and 4G LTE data with 5GB of hotspot data to share for only $20/mo.

With 24 monthly bill credits when you add a line on a qualifying plan.. For well-qualified customers; plus tax. During congestion, heavy data users (>50GB/mo. for most plans) and customers choosing lower-prioritized plans may notice lower speeds than other customers; see plan for details. Video typically streams on smartphone/tablet in SD quality. With Autopay & elig. Payment method. See full terms

Let’s talk.

855-648-7639

Business hotspot device plans.

Provide your employees with a fast and highly-secure connection to our 5G network, from almost anywhere they work.

Consider a mobile hotspot if you regularly rely on mobile data and power for Wi-Fi connection on the go.

All hotspot data plans for business include these benefits:

Unlimited 3g mobile hotspot data after high-speed data allowance used, connection in 215+ countries (up to 128kbps).

During congestion, heavy data users (>50GB/mo. for most plans) and customers choosing lower-prioritized plans may notice lower speeds than other customers; see plan for details. Video typically streams on smartphone/tablet in SD quality. High-speed tethering up to allotment, and then unlimited at max 3G speeds. See full terms

Featured hotspot plans.

Mobile internet with 5gb high-speed hotspot data..

Pricing with addition of a voice line. Plus taxes and fees. See full terms

5G Mobile Internet with 100GB high-speed hotspot data.

5g business laptop plans..

With 5G data plans on the reliable T-Mobile 5G network, 5G laptops can maintain a continuous, secure, and high-speed connection virtually anywhere, eliminating the need for Wi-Fi or hotspots, reducing connectivity downtime.

5G: Capable device req'd; coverage not available in some areas. Some uses may require certain plan or feature; see T-Mobile .com.

All 5G data plans for business laptops include these benefits:

Optimized video streaming at 720p, productivity filter available, bring your own device may be eligible.

During congestion, customers on this plan may notice speeds lower than other customers due to data prioritization. See full terms

Business Laptop with 75GB high-speed data.

Plus taxes and fees. See full terms

Business Laptop with 125GB high-speed data.

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With our nationwide 5G/4G LTE network, T-Mobile is positioned to provide Business Internet connectivity with the coverage and flexibility to help you address what’s important for your business.

Capable device required; coverage not available in some areas. Some uses may require certain plan or feature. All options not available in all areas; addresses ineligible for unlimited 5G Business Internet may be eligible for 4G LTE in select areas or other Business Internet options across national footprint.

Why pay more for 5G Business Internet?

Business Internet Unlimited

See additional benefits, more options, and how you can set up your new Wi-Fi network in 3 easy steps.

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Test drive today with our 15-day money back guarantee.

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