agent banking business plan pdf

Bank Business Plan Template

Written by Dave Lavinsky

Bank Business Plan

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

If you’re unfamiliar with creating a bank 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 a bank business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Bank Business Plan?

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

Why You Need a Business Plan for Your Bank Business

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

Sources of Funding for Banks

With regards to funding, the main sources of funding for a bank 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 banks.  

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How to write a business plan for a bank.

If you want to start a bank 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 bank 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 bank you are running and the status. For example, are you a startup, do you have a bank that you would like to grow, or are you operating a chain of banks?

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

• Give a brief overview of the bank industry.
• Discuss the type of bank 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 bank you are operating.

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

• Commercial bank : this type of bank tends to concentrate on supporting businesses. Both large corporations and small businesses can turn to commercial banks if they need to open a checking or savings account, borrow money, obtain access to credit or transfer funds to companies in foreign markets.
• Credit union: this type of bank operates much like a traditional bank (issues loans, provides checking and savings accounts, etc.) but banks are for-profit whereas credit unions are not. Credit unions fall under the direction of their own members. They tend to serve people affiliated with a particular group, such as people living in the same area, low-income members of a community or armed service members. They also tend to charge lower fees and offer lower loan rates.
• Retail bank: retail banks can be traditional, brick-and-mortar brands that customers can access in-person, online, or through their mobile phones. They also offer general public financial products and services such as bank accounts, loans, credit cards, and insurance.
• Investment bank: this type of bank manages the trading of stocks, bonds, and other securities between companies and investors. They also advise individuals and corporations who need financial guidance, reorganize companies through mergers and acquisitions, manage investment portfolios or raise money for certain businesses and the federal government.

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

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of clients served, the number of clients with positive reviews, reaching X number of clients served, 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 bank industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the bank 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 bank business plan:

• How big is the bank 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 bank? 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 bank business plan must detail the customers you serve and/or expect to serve.

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

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

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes trust accounts, investment companies, or the stock market. 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 bank 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 provide loans and retirement savings accounts?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

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

Marketing Plan

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

Product : In the product section, you should reiterate the type of bank company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide savings accounts, auto loans, mortgage loans, or financial advice?

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 bank. Document where your company is situated and mention how the site will impact your success. For example, is your bank 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 bank 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 bank, including reconciling accounts, customer service, accounting, etc.

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

Management Team

To demonstrate your bank’s 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 banks. 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 a bank or successfully running a small financial advisory firm.  

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 see 5 clients per day, and/or offer sign up bonuses? 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 bank, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

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

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

• Cost of furniture 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 bank location lease or a list of accounts and loans you plan to offer.  

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

Bank Business Plan Template FAQs

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

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

How Do You Start a Bank Business?

Starting a bank business is easy with these 14 steps:

• Choose the Name for Your Bank Business
• Create Your Bank Business Plan
• Choose the Legal Structure for Your Bank Business
• Secure Startup Funding for Your Bank Business (If Needed)
• Secure a Location for Your Business
• Register Your Bank 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 Bank Business
• Buy or Lease the Right Bank Business Equipment
• Develop Your Bank Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Bank Business
• Open for Business

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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 a Growthink business plan consultant can create your business plan for you.

Other Helpful Business Plan Articles & Templates

Zoe Talent Solutions

Agency banking model, strategy and solutions.

Course Overview

Course outline, book classes now.

Cash transactions are still common worldwide. Agency banking, as a concept, has become an important part of the system. It is a channel wherein third-party agents conduct transactions or other activities on behalf of financial institutions.

An agency network is a cost-efficient strategy to reach remote, underserved markets. However, despite regulatory and legislative conditions becoming easy, financial institutions still refrain from adopting it.

Technology plays a critical role in enabling small vendors and other businesses to adopt the agency model. Although not widespread, third-party agents have become a critical part of the financial services ecosystem. Thus, understanding the agency model will be beneficial to all financial institutions.

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• Bank Modelling and Valuation Training Program
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Pension Fund Governance, Regulations and Best Practices Course

• Mastering Banking Arbitration, Disputes Resolution and Contracts Training Course

This Zoe training course will empower you with a detailed understanding and superior knowledge of the agency banking model. Since this is an unexplored-yet-critical domain, gaining experience will give you an advantage for rising banking sector opportunities.

Furthermore, this will help in becoming an expert for advice and guidance on strategies for setting up this model, thus offering you added exposure and experience.

Course Objectives

The key objective of this Agency Banking Model, Strategy and Solutions training course is to empower professionals to—

• thoroughly understand the agency banking model, together with advanced strategies and solutions critical for its success
• apply advanced concepts to define competitive, efficient systems for one’s organisation to ace the agency banking concept
• understand and confidently work with advanced technological setups to achieve operational excellence
• mentor other professionals on best practices related to agency banking
• review existing processes within one’s organisation to check organisational readiness for adopting the agency banking model or enhancing the existing one
• contribute to organisational credibility and development through various steps, thus demonstrating one’s ability to assume core responsibilities, in turn supporting one’s career progression
• gaining the required skills, knowledge and experience to compete with other professionals and stand out in one’s expertise, thus becoming a professional of choice for many organisations, adding dynamism to one’s professional portfolio

Training Methodology

Zoe Talent Solutions conducts various training programs across many disciplines. These courses are customisable and are thus thoroughly checked before commencement of the program. Lectures are delivered by experienced professionals, using audio-visual presentations as good reference.

Trainee participation is assured through group activities and assignments. Further, whenever possible, the training participants are exposed to role-plays and other practical lessons to enhance their experience and understanding on the topic.

This unique format of training was devised by Zoe Talent Solutions as an effective method with maximum learning and is used for all its courses. It is called the Do–Review–Learn–Apply Model.

Organisational Benefits

Organisations whose professionals undertake this Agency Banking Model, Strategy and Solutions course will benefit in ways mentioned below:

• A more structured, successful approach to setting up an agency banking model for the organisation, managed by trained professionals
• Robust, well-defined strategies and unique approaches to implement and successfully sustain the agency banking model
• Efficient solutions to resolve customer needs in time, thereby leading to customer satisfaction and loyalty and increased organisational credibility
• Regular audits to check the organisation’s readiness to enhance an existing agency banking model or establish a new one
• Organisational growth and development because of increased credibility and a well-planned approach to any aspect related to agency banking
• Frequent training programs for existing employees to stay updated with market changes
• Careful review and treatment of all possible risks for the organisation when implementing agency banking
• Use of advanced technological systems to offer a wide range of relevant services in efficient time, maintaining brand image
• Continuous update of processes and systems as per existing market demands and forecasted changes to stay competitive in the industry

Personal Benefits

Professionals opting for this training course will benefit in the several ways mentioned below:

• Detailed information and superior understanding and knowledge of agency banking, including appropriate strategies and solutions
• Enhanced strategic and analytical skills to work with data to devise attractive and relevant strategies for one’s organisation, contributing to organisational development
• Improved attention to detail and foresight to carefully check for early warning signals of possible risks to help set up processes and systems with little or no difficulty
• Increased confidence and knowledge to train other professionals on various aspects of agency banking, including a detailed overview of the model and its relations, existing strategies and theories and appropriate solutions
• Greater understanding and decision-making skills to take timely decisions at the time of set- up or during operation of the model in order to save money for one’s organisation
• Greater experience, exposure, knowledge and confidence to work on various facets or multiple responsibilities related to agency banking, thereby aiding multiple future offers for growth across one’s organisation or across multiple organisations
• Increased knowledge and understanding to work with advanced technologies and apply advanced concepts and theories to establish and successfully operate the agency banking model
• Better understanding and confidence to review existing processes and systems to check for organisational readiness before launching the model
• Enhanced awareness and knowledge to make organisational changes as per changing needs of the market, thus help one and one’s organisation stay competitive in the market space

Who Should Attend?

• Senior management of organisations who need to thoroughly understand the agency banking model to make appropriate strategic decisions
• Bankers and other staff responsible to ensure smooth operation with agents or third-party vendors
• Managers and leaders overseeing end-to-end management of the agency banking model
• Shareholders and other future participants/members who would like to know the health of a company before making investment decisions
• Internal and external auditors responsible for regular audits for adherence to required standards and legislative direction
• Legal advisors responsible for helping the organisation in the event of a dispute
• Agents and other third-party vendors interested in being part of the agency banking model
• Any other professional who would like to know more about the agency banking model

The course covers the following topics critical to help you understand the agency banking model better, including relevant strategies and solutions:

Module 1 – Components of the Agency Ecosystem

• Service providers

Module 2 – Types of Agent Banks

• Foreign agent banks
• Investment banks
• Third-party agent banks

Module 3 – Types of Banking Agents

• Supermarkets
• Convenience stores
• Lottery outlets
• Post offices

Module 4 – Agency Banking Strategy

• Channel distribution
• Channel innovation
• Cost leadership/effectiveness
• Future position

Module 5 – Agency Banking Solutions

• Cash withdrawal
• Bill payment
• Cash deposits
• Funds transfer
• Balance enquiry
• Documentation collection for debit/credit cards, loan applications and account opening forms
• Collection of bank correspondence and mail
• Mobile banking services

Module 6 – Agency Banking Service Limitations

• Final approval of bank account opening
• Final approval of bank card/cheque issuance
• Loan- and financial appraisal-related activities
• Cheque encashments
• Foreign currency-related activities

Module 7 – Benefits of the Agency Banking Model

• Enhanced customer experience
• Investing in brand evangelism
• Appetite for data
• Achieve sustainable development goals by financial inclusion
• Cost-efficient distribution channel
• Deposit mobilisation

Module 8 – Disadvantages of Agency Partnerships

• Bank reputation at risk
• Dependence on branch support
• Lack of real control
• Risk of low-quality sales methods
• Inadequate understanding of product

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Free PDF Business Plan Templates and Samples

By Joe Weller | September 9, 2020

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We’ve gathered the most useful collection of business plan PDF templates and samples, including options for organizations of any size and type.

On this page, you’ll find free PDF templates for a simple business plan , small business plan , startup business plan , and more.

Simple Business Plan PDF Templates

These simple business plan PDF templates are ready to use and customizable to fit the needs of any organization.

Simple Business Plan Template PDF

This template contains a traditional business plan layout to help you map out each aspect, from a company overview to sales projections and a marketing strategy. This template includes a table of contents, as well as space for financing details that startups looking for funding may need to provide. 

Download Simple Business Plan Template - PDF

Lean Business Plan Template PDF

This scannable business plan template allows you to easily identify the most important elements of your plan. Use this template to outline key details pertaining to your business and industry, product or service offerings, target customer segments (and channels to reach them), and to identify sources of revenue. There is also space to include key performance metrics and a timeline of activities. 

Download Lean Business Plan Template - PDF

Simple 30-60-90 Day Business Plan Template PDF

This template is designed to help you develop and implement a 90-day business plan by breaking it down into manageable chunks of time. Use the space provided to detail your main goals and deliverables for each timeframe, and then add the steps necessary to achieve your objectives. Assign task ownership and enter deadlines to ensure your plan stays on track every step of the way.

Download Simple 30-60-90 Day Business Plan Template

PDF | Smartsheet

One-Page Business Plan PDF Templates

The following single page business plan templates are designed to help you download your key ideas on paper, and can be used to create a pitch document to gain buy-in from partners, investors, and stakeholders.

One-Page Business Plan Template PDF

Use this one-page template to summarize each aspect of your business concept in a clear and concise manner. Define the who, what, why, and how of your idea, and use the space at the bottom to create a SWOT analysis (strengths, weaknesses, opportunities, and threats) for your business. 

Download One-Page Business Plan Template

If you’re looking for a specific type of analysis, check out our collection of SWOT templates .

One-Page Lean Business Plan PDF

This one-page business plan template employs the Lean management concept, and encourages you to focus on the key assumptions of your business idea. A Lean plan is not stagnant, so update it as goals and objectives change — the visual timeline at the bottom is ideal for detailing milestones. 

Download One-Page Lean Business Plan Template - PDF

One-Page 30-60-90 Day Business Plan Template

Use this business plan template to identify main goals and outline the necessary activities to achieve those goals in 30, 60, and 90-day increments. Easily customize this template to fit your needs while you track the status of each task and goal to keep your business plan on target. 

Download One-Page 30-60-90 Day Business Plan Template

For additional single page plans, including an example of a one-page business plan , visit " One-Page Business Plan Templates with a Quick How-To Guide ."

Small Business Plan PDF Templates

These business plan templates are useful for small businesses that want to map out a way to meet organizational objectives, including how to structure, operate, and expand their business.

Simple Small Business Plan Template PDF

A small business can use this template to outline each critical component of a business plan. There is space to provide details about product or service offerings, target audience, customer reach strategy, competitive advantage, and more. Plus, there is space at the bottom of the document to include a SWOT analysis. Once complete, you can use the template as a basis to build out a more elaborate plan. 

Download Simple Small Business Plan Template

Fill-In-the-Blank Small Business Plan Template PDF

This fill-in-the-blank template walks you through each section of a business plan. Build upon the fill-in-the-blank content provided in each section to add information about your company, business idea, market analysis, implementation plan, timeline of milestones, and much more.

Download Fill-In-the-Blank Small Business Plan Template - PDF

One-Page Small Business Plan Template PDF

Use this one-page template to create a scannable business plan that highlights the most essential parts of your organization’s strategy. Provide your business overview and management team details at the top, and then outline the target market, market size, competitive offerings, key objectives and success metrics, financial plan, and more.

Download One-Page Business Plan for Small Business - PDF

Startup Business Plan PDF Templates

Startups can use these business plan templates to check the feasibility of their idea, and articulate their vision to potential investors.

Startup Business Plan Template

Use this business plan template to organize and prepare each essential component of your startup plan. Outline key details relevant to your concept and organization, including your mission and vision statement, product or services offered, pricing structure, marketing strategy, financial plan, and more.

‌Download Startup Business Plan Template

Sample 30-60-90 Day Business Plan for Startup

Startups can use this sample 30-60-90 day plan to establish main goals and deliverables spanning a 90-day period. Customize the sample goals, deliverables, and activities provided on this template according to the needs of your business. Then, assign task owners and set due dates to help ensure your 90-day plan stays on track.

‌Download Sample 30-60-90 Day Business Plan for Startup Template 

For additional resources to create your plan, visit “ Free Startup Business Plan Templates and Examples .”

Nonprofit Business Plan PDF Templates

Use these business plan PDF templates to outline your organization’s mission, your plan to make a positive impact in your community, and the steps you will take to achieve your nonprofit’s goals.

Nonprofit Business Plan Template PDF

Use this customizable PDF template to develop a plan that details your organization’s purpose, objectives, and strategy. This template features a table of contents, with room to include your nonprofit’s mission and vision, key team and board members, program offerings, a market and industry analysis, promotional plan, financial plan, and more. This template also contains a visual timeline to display historic and future milestones.

Download Nonprofit Business Plan Template - PDF

One-Page Business Plan for Nonprofit Organization PDF 

This one-page plan serves as a good starting point for established and startup nonprofit organizations to jot down their fundamental goals and objectives. This template contains all the essential aspects of a business plan in a concise and scannable format, including the organizational overview, purpose, promotional plan, key objectives and success metrics, fundraising goals, and more.

Download One-Page Business Plan for Nonprofit Organization Template - PDF

Fill-In-the-Blank Business Plan PDF Templates

Use these fill-in-the-blank templates as a foundation for creating a comprehensive roadmap that aligns your business strategy with your marketing, sales, and financial goals.

Simple Fill-In-the-Blank Business Plan PDF

The fill-in-the-blank template contains all the vital parts of a business plan, with sample content that you can customize to fit your needs. There is room to include an executive summary, business description, market analysis, marketing plan, operations plan, financial statements, and more. 

Download Simple Fill-In-the-Blank Business Plan Template - PDF

Lean Fill-In-the-Blank Business Plan PDF

This business plan is designed with a Lean approach that encourages you to clarify and communicate your business idea in a clear and concise manner. This single page fill-in-the-blank template includes space to provide details about your management team, the problem you're solving, the solution, target customers, cost structure, and revenue streams. Use the timeline at the bottom to produce a visual illustration of key milestones. 

Download Fill-In-the-Blank Lean Business Plan Template - PDF

For additional resources, take a look at " Free Fill-In-the-Blank Business Plan Templates ."

Sample Business Plan PDF Templates

These sample business plan PDF templates can help you to develop an organized, thorough, and professional business plan.

Business Plan Sample 

This business plan example demonstrates a plan for a fictional food truck company. The sample includes all of the elements in a traditional business plan, which makes it a useful starting point for developing a plan specific to your business needs.

Download Basic Business Plan Sample - PDF

Sample Business Plan Outline Template

Use this sample outline as a starting point for your business plan. Shorten or expand the outline depending on your organization’s needs, and use it to develop a table of contents for your finalized plan.

Download Sample Business Plan Outline Template - PDF

Sample Business Financial Plan Template

Use this sample template to develop the financial portion of your business plan. The template provides space to include a financial overview, key assumptions, financial indicators, and business ratios. Complete the break-even analysis and add your financial statements to help prove the viability of your organization’s business plan.

Download Business Financial Plan Template

PDF  | Smartsheet

For more free, downloadable templates for all aspects of your business, check out “ Free Business Templates for Organizations of All Sizes .”

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Starting an Agent Banking Business in Uganda: A Step-by-Step Guide

If you’re looking for a profitable business opportunity in Uganda, starting an agent banking business could be a great option. Agent banking is a system where banks use third-party agents to provide banking services to customers. This system has been gaining popularity in Uganda due to its convenience and accessibility, especially in rural areas where traditional banking services are limited.

To start an agent banking business in Uganda, you will need to have a business plan that outlines your goals, strategies, and financial projections. You will also need to register your business with the relevant authorities, including the Uganda Registration Services Bureau, the Uganda Revenue Authority, and the Bank of Uganda. Additionally, you will need to meet the minimum requirements set by the bank you want to partner with, including having a physical business location, a valid business license, and a minimum amount of capital to invest.

Overall, starting an agent banking business in Uganda can be a lucrative venture with the potential to provide financial services to underserved communities. However, it requires careful planning, compliance with regulations, and a commitment to providing excellent customer service. With the right approach and dedication, you can successfully establish an agent banking business and contribute to the growth of Uganda’s financial sector.

Understanding Agent Banking

What is agent banking.

Agent banking is a financial service delivery model that allows banks to offer their services through third-party agents instead of setting up physical branches. These agents are usually small businesses or individuals who are authorized to conduct banking transactions on behalf of the bank. The transactions can include cash deposits, withdrawals, account opening, loan disbursement, and bill payments, among others.

In agent banking, the bank provides the agent with a point of sale (POS) device or mobile phone with a banking application to facilitate transactions. The agents earn a commission on the transactions they perform, which can be a percentage of the transaction value or a flat fee.

Why Start an Agent Banking Business in Uganda?

Agent banking is becoming increasingly popular in Uganda due to its potential to increase financial inclusion. According to the World Bank, only 54% of adults in Uganda have access to formal financial services, leaving a significant portion of the population unbanked. Agent banking can help bridge this gap by bringing banking services closer to the unbanked population, especially in rural areas where physical branches are scarce.

Starting an agent banking business in Uganda can also be a profitable venture. As an agent, you get to earn a commission on the transactions you perform, which can be a significant source of income. Additionally, you get to enjoy the flexibility of working from anywhere and at any time, as long as you have a reliable internet connection.

To start an agent banking business in Uganda, you need to meet certain requirements set by the Central Bank. These include having a physical address for your business, a valid license, and a bank account with a licensed financial institution. You also need to have a reliable internet connection, a POS device or mobile phone with a banking application, and adequate premises security.

Register the Business

Sure! Here are the steps involved in registering a business in Uganda:

• Choose a business name: Choose a unique name for your business that is not already in use by another registered business. You can check the availability of a business name using the online portal of the Uganda Registration Services Bureau (URSB).
• Reserve the business name: Once you have chosen a name, you can reserve it for up to 60 days by paying a fee of UGX 25,000. This can be done online through the URSB portal.
• Obtain a Tax Identification Number (TIN): All businesses in Uganda are required to have a TIN. You can obtain a TIN by registering for taxes with the Uganda Revenue Authority (URA).
• Register the business: Register the business with the URSB by completing the appropriate forms and paying the registration fee. The registration fee varies depending on the type of business structure you choose. For example, the fee for registering a sole proprietorship is UGX 25,000, while the fee for registering a private limited company is UGX 350,000.
• Obtain necessary licenses and permits: Depending on the nature of your business, you may need to obtain additional licenses and permits from various government agencies. For example, if you plan to sell food, you will need to obtain a food vending permit from the local authority.

Once you have completed the above steps, you will receive a certificate of incorporation from the URSB, which officially registers your business.

draw a table showing the full registration process for agent banking businesses and the necessary permits required.

A table showing the registration process for agent Banking in Uganda.

S ecure Funding

• Determine the startup costs: Estimate the costs involved in starting the agent banking business, including equipment, rent, staff salaries, and other expenses. This will give you an idea of how much funding you will need to secure.
• Explore financing options: Consider different financing options such as loans, grants, and equity investment. You can explore financing options from banks, microfinance institutions, and government programs such as the Youth Livelihood Program.
• Create a business plan: Develop a comprehensive business plan that outlines your business goals, target market, marketing strategy, and financial projections. This will help you secure financing and attract investors.
• Apply for financing: Once you have determined your financing needs and explored different financing options, apply for financing from the most suitable source. Be sure to provide all necessary documentation, including your business plan, financial statements, and any required permits or licenses.
• Manage your finances: Once you have secured funding, manage your finances carefully to ensure that you have enough capital to cover your expenses and grow your business. Keep accurate financial records and monitor your cash flow regularly.

By securing adequate funding, you can ensure that your agent banking business has the resources it needs to succeed and grow.

 Find a Partner Bank

• Research potential partner banks: Identify banks that offer agent banking services and determine which ones are a good fit for your business. Consider factors such as the bank’s reputation, geographic coverage, and product offerings.
• Contact the bank: Reach out to the bank and express your interest in becoming an agent. Provide information about your business and why you believe you would be a good fit as an agent for the bank.
• Complete the bank’s agent application process: Once you have expressed interest in becoming an agent, the bank will provide you with an agent application form. Complete the form and provide any additional documentation or information that the bank requires.
• Attend training: Once your application has been approved, attend training sessions provided by the bank. These sessions will teach you how to use the bank’s products and services, as well as how to comply with regulatory requirements.
• Sign an agent agreement: After completing training, sign an agent agreement with the bank. This agreement will outline the terms and conditions of your partnership with the bank, including your responsibilities as an agent.

By partnering with a bank, you can offer a wider range of financial products and services to your customers, while also earning commissions on transactions. It’s important to choose a partner bank that is a good fit for your business and provides the support and training you need to succeed as an agent.

 Set Up Shop

• Find a suitable location for the agent banking business: Choose a location that is easily accessible to your target market and has high foot traffic. Consider factors such as rent, security, and proximity to other businesses.
• Purchase necessary equipment and supplies: Purchase equipment such as a computer, printer, and internet connection, as well as supplies such as stationery and marketing materials.
• Hire and train staff: Hire staff to manage the day-to-day operations of the agent banking business, and provide them with training on how to use the bank’s products and services.

Total Cost Estimate:

The total cost required to set up an agent banking business in Uganda can vary depending on factors such as the location, size, and scope of the business. However, here is a rough estimate of the costs involved:

Therefore, the total cost of setting up an agent banking business in Uganda can range from UGX 6,500,000 to UGX 12,500,000. It’s important to note that these are rough estimates and the actual costs may vary depending on various factors. 

L aunch the Business

Develop a marketing strategy: 

Develop a marketing strategy to promote your agent banking business and attract customers. Consider using social media, flyers, and word-of-mouth referrals to reach your target market.

Monitor your business performance regularly and make improvements as needed. Consider factors such as customer satisfaction, transaction volume, and revenue to identify areas for improvement.

Further advice and tips  to make your banking agent successful:

• Build trust with your customers: As an agent banking business, trust is crucial to your success. Build trust with your customers by offering high-quality products and services, providing excellent customer service, and being transparent about charges.
• Offer competitive pricing: To attract and retain customers, offer competitive pricing on your financial products and services. Research the pricing of other agent banking businesses in your area and adjust your pricing accordingly.
• Invest in technology: Technology can help you streamline your operations and provide a better customer experience. Invest in technology such as a mobile app or online banking platform to make it easier for customers to access your services.
• Focus on customer service: Providing excellent customer service is key to building a loyal customer base. Train your staff to be friendly, helpful, and knowledgeable about your products and services.
• Stay compliant with regulations: As an agent banking business, you are subject to various regulations and compliance requirements. Stay up-to-date with the latest regulations and ensure that you comply to avoid penalties or legal issues.

By following these tips, you can increase the chances of success for your agent banking business and build a strong reputation in the community.

iff you enjoyed reading this article then you should definately check out  agency banking in Uganda .

Did you know that agent banking has helped to bring financial services to underserved communities in Uganda? According to the Bank of Uganda, agent banking has contributed to an increase in financial inclusion, with over 5 million new accounts opened through agent banking in 2020 alone. By starting your own agent banking business, you can help to bridge the gap in financial services and make a positive impact in your community.

 Starting an agent banking business in Uganda can be a gratifying and profitable endeavor, but it takes proper strategy, preparation, and execution. Aspiring entrepreneurs can manage the registration procedure, get money, identify a partner bank, set up a store, launch the business, and monitor and evaluate performance by following the processes mentioned in this article. Entrepreneurs can further boost their chances of success and make a positive effect on their communities by following the additional advice presented.

We would like to thank the Share-Afro team for sharing useful insights and information on beginning and running an agent banking business in Uganda. Your essay was comprehensive and useful in guiding potential entrepreneurs through the stages needed in establishing an agent banking firm. We are grateful for your efforts to promote entrepreneurship and financial inclusion in Uganda.

11 thoughts on “Starting an Agent Banking Business in Uganda: A Step-by-Step Guide”

I love your post, and without exception, I diligently implement each of its recommendations whenever there’s a new one. Not only that, but I excitedly share it across all my social media platforms, and my dedicated followers always show their support by giving it a thumbs up. Keep up the outstanding work and informative posts coming! By the way, I came across an interesting piece from https://bit.ly/3HeGV8C on how to make money online after being made laidoff, and I would like to share my own experience how I have succeeded to solve my financial woes in 2 weeks with this 3 pronged effective strategy and guidance that didn’t cost me single cent!

Good steps, well explained for easy understanding. Have understood the whole concept. Thank you

Thanks Neboshi….we are glad this article was helpful, this is the right time to start your own agent banking business, need some extra help, feel free to contact us

Thank you so much for the productive and profitable information about agent banking in Uganda I have understood everything about it and I would like to open one. Thanks

We’re thrilled that you found the information on agent banking in Uganda helpful and that you’re considering opening one! Your enthusiasm for this venture is inspiring. If you ever need further assistance or have questions about getting started, feel free to ask. Wishing you all the best on your path to success! 🌟🏦

[Share-afro team]

Well discussed, thanks

Thanks for your positive feedback on agent banking in Uganda. If you need more guidance, feel free to ask. We wish you success on your entrepreneurial journey!

Best regards, [share-afro team]

This is awesome!! Do you offer other business guidance as well, apart from agent banking?

thank you for your feedback, we do provide countless services,however its so hard to spot the right areas of interest for different people so please kindly inform us on what other business guidance you would like to know

with regards

[share-afro team]

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