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

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

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

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

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

Let’s get started.

What Do You Need A Business Plan For?

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

1. Secure Funds

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

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

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

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

2. Monitor Business Growth

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

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

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

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

3. Measure Business Success

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

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

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

4. Document Your Marketing Strategies

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

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

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

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

How to Write a Business Plan Step-by-Step

1. create your executive summary.

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

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

A good executive summary should do the following:

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

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

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

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

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

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

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

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

2. Add Your Company Overview

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

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

Your company overview should contain the following:

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

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

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

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

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

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

• Mission Statement

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

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

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

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

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

Business Objectives

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

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

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

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

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

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

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

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

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

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

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

Market Analysis

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

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

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

• Market Research

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

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

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

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

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

How to Quantify Your Target Market

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

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

What Does a Good Market Analysis Entail?

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

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

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

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

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

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

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

Competitive Analysis

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

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

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

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

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

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

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

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

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

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

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

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

Direct vs Indirect Competition

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

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

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

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

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

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

Factors that Differentiate Your Business from the Competition

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

1. Cost Leadership

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

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

2. Product Differentiation

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

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

3. Market Segmentation

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

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

4. Define Your Business and Management Structure

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

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

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

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

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

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

Management Team

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

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

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

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

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

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

Key Questions to Answer When Structuring Your Management Team

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

Additional Tips for Writing the Management Structure Section

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

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

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

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

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

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

Organizational Chart

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

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

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

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

5. Describe Your Product and Service Offering

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

1. Avoid Technical Descriptions and Industry Buzzwords

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

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

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

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

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

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

3. Long or Short Products or Services Section

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

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

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

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

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

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

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

4. Describe Your Relationships with Vendors or Suppliers

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

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

5. Your Primary Goal Is to Convince Your Readers

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

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

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

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

Key Questions to Answer When Writing your Products and Services Section

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

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

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

6. Show and Explain Your Marketing and Sales Plan

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

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

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

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

Outline Your Business’ Unique Selling Proposition (USP)

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

Target Market and Target Audience

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

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

Creating a Smart Marketing and Sales Plan

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

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

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

Your Positioning Statement

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Basic Rules to Follow When Pricing Your Offering

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

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

Pricing Strategy

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

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

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

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

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

Advertising

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

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

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

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

Public Relations

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

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

Content Marketing

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

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

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

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

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

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

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

Social Media

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

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

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

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

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

Strategic Alliances

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

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

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

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

Steps Involved in Creating a Marketing and Sales Plan

1. Focus on Your Target Market

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

2. Evaluate Your Competition

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

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

These questions can help you know your competition.

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

3. Consider Your Brand

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

4. Focus on Benefits

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

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

5. Focus on Differentiation

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

Key Questions to Answer When Writing Your Marketing and Sales Plan

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

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

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

7. Clearly Show Your Funding Request

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

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

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

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

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

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

Funding Request: Debt or Equity?

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

Case for Equity

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

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

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

Case for Debt

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

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

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

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

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

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

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

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

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

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

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

8. Detail Your Financial Plan, Metrics, and Projections

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

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

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

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

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

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

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

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

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

Use Graphs and Charts

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

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

Address the Risk Factors and Show Realistic Financial Projections

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

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

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

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

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

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

1. Sales Forecast

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

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

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

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

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

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

2. Personnel Plan

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

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

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

3. Income Statement

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

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

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

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

4. Cash Flow Statement

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

5. Balance Sheet

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

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

6. Exit Strategy

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

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

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

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

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

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

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

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

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

9. Add an Appendix to Your Business Plan

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

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

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

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

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

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

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

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

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

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

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

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

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

Tips and Strategies for Writing a Convincing Business Plan

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

1. Know Your Audience

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

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

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

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

2. Get Inspiration from People

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

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

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

3. Avoid Being Over Optimistic

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

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

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

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

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

4. Keep it Simple and Short

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

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

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

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

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

5. Make an Outline and Follow Through

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

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

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

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

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

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

6. Ask a Professional to Proofread

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

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

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

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

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

1. hubspot's one-page business plan.

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

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

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

2. Bplan’s Free Business Plan Template

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

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

3. HubSpot's Downloadable Business Plan Template

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

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

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

4. Business Plan by My Own Business Institute

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

The comprehensive template consists of a whopping 15 sections.

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

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

5. Score's Business Plan Template for Startups

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

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

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

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

6. Minimalist Architecture Business Plan Template by Venngage

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

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

7. Small Business Administration Free Business Plan Template

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

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

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

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

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

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

9. PandaDoc’s Free Business Plan Template

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

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

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

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

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

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

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

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

Alternatives to the Traditional Business Plan

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

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

Business Model Canvas (BMC)

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

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

Segments of the Business Model Canvas

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

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

Lean Canvas

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

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

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

Startup Pitch Deck

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

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

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

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

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

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

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

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

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

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

Business Plan FAQ

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

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

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

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

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

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

Exlore Further

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

Was This Article Helpful?

Martin luenendonk.

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

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

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550+ Business Plan Samples To Inspire Your Plan

Inspire your own plan with 550+ business plan samples

Use real business plan examples to jump-start your own plan!

Don’t start from scratch — get a headstart with 550 real business plan examples

How do you know what elements to include in your business plan, if you’ve never written one before? Looking at real business plan samples can help you visualize what a successful plan looks like, so you know what you’re aiming for before you get started. With LivePlan you’ll have access to over 550 free example business plans to use as a starting point.

Access our full library and browse real sample content for a broad range of businesses. You’ll see how others have written effective executive summaries, planned marketing activities, created financial forecasts , and more. Plus we’ll be right there to walk you through it .

Whether you run a dentist office or dog walking service, you’ll find examples of a business plan for every type of business.

Whether you’re a small- or mid-sized business, freelancer, nonprofit, or still figuring that out, we’ve got you covered.

LivePlan’s library of business plan samples has real business plans from 150 industries and growing. You can see the complete list here .

It’s OK if you can’t find an exact match to your business. You don’t need an exact match for a sample plan to be helpful. Instead, look for a plan that’s closely related to the type of business you’re starting. For example, if you want to start a vegetarian restaurant, a plan for a steakhouse will still be a great match.

While the specifics of your actual business will differ, the elements you’ll want to include in your restaurant’s business plan are similar—and they’re all included in LivePlan .

Real business plan examples to save you time

Read through as many sample business plans as you like to see how it’s done and get inspired. And if you really want to, you can even copy and paste sections to use in your own plan.

We’ve collected sample plans over more than 20 years, most through generous donations from happy customers who used our software and wanted to share their successful business plan samples with others.

Get LivePlan in your classroom

Are you an educator looking for real–world business plan examples for your students? With LivePlan, you give your students access to industry–best business plan samples, and help them set goals and track metrics with spreadsheet–free financial forecasts. All of this within a single tool that includes additional instructional resources to work seamlessly alongside your current classroom setup.

With LivePlan, it’s not just a classroom project. It’s your students planning for their futures. Click here to learn more about business planning for students.

Built-in examples and step-by-step help so you won’t get stuck

In addition to complete sample plans, LivePlan includes specific examples for each part of your business plan. Browse through a few examples to get an idea of how other businesses have worded their executive summary, for instance, or other key sections of the business plan. Find an example that works for you and personalize it to fit your business.

You’ll be confident that your numbers are right

In addition to sample business plans, LivePlan includes current industry benchmarks so you can see what the numbers look like for businesses just like yours. Knowing your industry standards helps ensure that your plan is both competitive and realistic.

Download a free sample business plan

Download a free business plan today. You can use it as a template for your own business plan and to see an example of what you’ll find in LivePlan. Download my free business plan .

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Didn't find what you are looking for.

The answer is simple.

It’s an informal business plan that can convince you that your idea makes sense to the outside world because you are investing your time, money, and everything into that idea.

To write a business plan, maybe you think you don’t need a step-by-step guide or a sample business plan . After all, some entrepreneurs achieved success without writing a business plan. With great timing, past business experiences, entrepreneurial ambitions, and a little luck, some entrepreneurs build successful businesses without even writing an informal business plan.

But the odds are greater than those entrepreneurs fail.

And that’s why writing a business plan will help you succeed .

The easiest way to simplify the work of writing a business plan is to start with sample business plans.

What is business plan sample?

Why you should refer a business plan example, who should use business plan examples, how to use sample business plans.

What is Business Plan Sample?

That’s why we created business plan examples to help you get started.

Use our 400+ business plan examples written for all industries and write your business plan in half of the time with twice the impact.

• Guidance on what to include in each section.  If you’ve never attended business school, you might never have created a  SWOT analysis   or a balance sheet before. Business templates that give guidance — in plain language — about what to include and how to fill in each section and create a complete and effective plan.
• A business plan is vital to get an investment.  If you’re seeking investment for your business, you’ll need to convince banks and investors why they should invest in your business . Lenders and investors will only risk their time and money if they’re certain that your business will be successful and profitable and they will get a great return on their investment.
• A business plan can help you prioritize.  A complete, well-balanced business plan is one of the most valuable tools in assisting you to reach your long-term goals. It gives your business direction, defines your goals, outlines out strategies to reach your goals, and helps you to manage possible bumps in the way.

Who should use Business Plan Examples?

Well Everyone, who wants to write a business plan should use these sample business plans. These plans apply to almost all industries.

We have created a library of professional sample business plans from a wide variety of industries to help you start writing your business plan with minimum effort.

Use our Upmetrics — business plan software that offers step by step guide to start writing your business plan , especially if you’re writing an informal business plan to get a bank loan or outside investment.

Our extensive sample business plans library includes  business plan templates  and  business plan examples  for almost all business industries.

Make your plan in half the time & twice the impact with Upmetrics.

How to use Business Plan Examples to write your own?

Having real-life and industry-specific business plan examples by your side can be incredibly resourceful to help you write a business plan from scratch. 

A well-planned structure helps you outline your plan, while content inspiration helps you set the tone for your business document. 

Let’s dive deep and understand how to use these examples effectively to write your business plan.

1. Use examples as a guide

2. understanding the structure.

Traditional business plans generally follow a similar structure. 

It starts with an executive summary followed by a company description, market analysis, product and services, sales and marketing strategies, operational plan, management team, financial plan, and appendix.

Using an example business plan is the best way to understand the structure and outline your plan. 

3. Gaining Inspiration

Reading industry-specific business plan examples can help you gain inspiration for your plan. You can gain insights on presenting your business idea, vision, mission, and values and persuade investors to invest in your idea.

4. Learning Industry-Specific Language

There’s no universal template for business planning that fits all. An industry-specific template can help you learn and understand the business language for your industry and the best way to communicate your message to your investors.

5. Identifying Key Elements

Reading business plan examples of similar businesses can help you identify the key elements and information to include in your plan. You can keep note of these and ensure everything necessary for investors to consider is present in your final draft.

6. Crafting Financial Projections

A financial plan is a critical component of your business plan, and a good business plan example can help you better understand how they project their financials which can be incredibly helpful while forecasting yours.

7. Refining Your Executive Summary

As mentioned earlier, your executive summary is a key factor influencing potential investors and lenders to invest or lend you money. Analyzing free business plan templates can help you optimize your executive summary to make it more brief, persuasive, and attention-grabbing.

8. Realizing What Works and What Doesn’t

Analyzing industry-specific and real-life examples can help you determine what works best and what doesn’t within your industry. Understanding these factors can help you avoid many significant pitfalls.

While business plan examples can be incredibly helpful in writing a plan from scratch, ensure your plan is customized for your business and sends out a unique message. Your business plan must reflect its unique idea, vision, and target market.

Using your Business Plan as a Management Tool

It’s essential to have a business plan, but it’s also crucial to keep it up to date as your business progresses. A business plan is not merely a document that you write once and forget after you get started. It’s a business road map and vision that you should develop as your business progresses and evolves. It’s also important to update your business plan regularly as your business situation and position change.

How Business Plan Software can help you?

We have created Upmetrics — business plan software to simplify the process of business planning.

Our financial forecasting module will create all the essential reports automatically. You just need to enter numbers and the application will do all the math to generate your financial reports. Later you can embed those reports into your business plan.

After completing your business plan, you can download your business plan in PDF or DOC file using Upmetrics. Also, you can share it online with investors or with other important people just by a quick link.

Ready to take the next step?

Now that you have a business idea and you know how to write a business plan, it’s time to go for it . Our business plan software will take you through each step outlined above in more detail so there are no surprises on your journey.

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After trying Upmetrics, I wish to highly recommend this app to anyone who needs to write a business plan flexibly and to a high standard.

Frequently Asked Questions

What is sample business plan, how do i write a business plan.

In business plan writing you will need to write the following sections into your business plan. These sections include an Executive Summary, Company Overview, Problem Analysis, The Solution, Market Analysis, Customer Analysis, Competitive Analysis, SWOT Analysis, Marketing Plan, Operations Plan, and Financial Plan.

Check out our article to learn how you can write these sections in detail for your business plan.

How long should my business plan be?

The length of your business plan depends on the type of plan you choose. There are one-page business plans that offer easy and practical planning. Then you have traditional business plans that usually vary from 20 to 50 pages. It’s worth noting that the quality of your business plan matters more than its length.

Should I hire someone to write my business plan for me?

Absolutely No, You as a business owner know all about your business idea, your business goals, target market and audience, and what you want to achieve by writing your plan. Don’t hire someone who doesn’t know what your readers will want, the reason is that, if you intend to raise funds, you are the best person that understands what investors will look out for in your business plan.

Consultants or  business plan writers  definitely can write a business plan but not better than you.

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14 Professional Business Plan Samples [Downloadable pdf]

Looking for business plan examples for inspiration? Download or view 14 business plans examples/samples, vetted by our MBA business plan writers. Download in PDF format or read like a book. These real business plan samples would help in writing your own business plan.

• View Real Business Plan Examples/Samples

As an entrepreneur, effectively pitching your idea to attract investors and secure funding can be a challenge. Moreover, when launching a business, creating a comprehensive business plan is paramount.

To aid you in these crucial tasks, we offer a collection of real-world and sample business plan examples across diverse industries. A well-structured business plan is indispensable in the fast-paced entrepreneurial landscape, as it delineates your goals, strategies, and financial projections, providing a clear roadmap for your venture.

Our aim is to facilitate the creation of an effective business plan by integrating real-life examples to elucidate the key elements involved. Below, you’ll find a range of 14 detailed business plan examples available for download and use.

Important Sections to Include in Business Plan

Practical business plan examples illustrating strategies for startup success, 1. e-commerce plan sample or example, 2. online marketplace business plan example or sample, 3. snack bar business plan sample / business plan example, 4. coffee shop business plan sample/business plan example pdf, 5. food hall business plan sample/business plan example pdf, 6. printing shop business plan sample/business plan example plan, 7. acquisition business plan sample/ example pdf, 8. l-1 visa business plan example with sample pdf, 9. e-2 visa business plan sample/ example pdf, 10. eb-5 business plan sample/ example pdf, 11. investor business plan sample/ example pdf, 12. nonprofit business plan sample/ example pdf, 13. bank business plan sample/ example pdf, 14. cannabis business plan sample/ example pdf, detailed overview of key components of a business plan, 1. executive summary, tips for writing executive summary, 2. company overview or description, tips for writing company description, 3. market analysis, tips for writing market analysis, 4. product and services, tips for writing product and services, 5. marketing and sales plan, tips for writing marketing and sales plan, 6. operation planning, tips for writing operational planning, 7. organization and management, tips for writing organization and management summary, 8. financial plan, tips for writing financial plan, 9. key external drivers, tips for writing key external drivers, 10. startup summary, tips for writing startup summary, 11. projected industry growth, tips for writing projected industry growth, 12. break-even analysis, tips for writing break-even analysis, 13. management summary, tips for writing management summary, 14. financial indicators, tips for writing financial indicators, discover business plan formats and free templates, business plan examples for students pdf, common types of business plan, 1. one page business plan, 2. start-up business plan, 3. strategic business plan, 4. feasibility business plan, 5. internal business plan, conclusion​, frequently asked questions, download pack of 14 business plan examples, are you looking for top business plan writer.

To create a robust business plan, ensure inclusion of the following key sections:

• Executive Summary: A brief snapshot of your business and the key highlights of your business plan. Read more
• Product and Services: An elaborate description of the offerings you will provide to your customers. Read more
• Marketing and Sales Plan: A strategic roadmap outlining how you intend to promote and market your business before, during, and after its launch. Read more
• Operating Planning: An explanation of the systems, processes, and tools necessary to efficiently run your business behind the scenes. Read more
• Organization and Management: Organization and management in a business plan outline the structure and leadership of the company. Read more
• Financial Plan: A comprehensive plan mapping out your short-term and long-term financial goals and the associated costs of running your business. If you require funding, this section is where you can outline your request and financial needs. Read more
• Key External Drivers: External drivers encompass factors like outsourcing, economic changes, industry competition, and business legislation complexity. Read more
• Startup Summary: The startup summary offers a comprehensive financial overview of , detailing expenses, asset value, and total requirements, crucial for transparency with entrepreneurs and investors. Read more
• Projected Industry Growth : Projected industry growth forecasts the sector’s expansion, offering a 10-year perspective and average annual growth rate, providing clarity to investors. Read more
• Break-even analysis: The break-even analysis visually presents key metrics and a 12-month revenue forecast to help stakeholders grasp the point where the business covers costs and starts generating profit . Read more
• Management Summary: The management summary provides a concise overview of organizational structure, key personnel, their roles, and financial commitments, ensuring stakeholders understand the business’s operational strength and leadership capability. Read more
• Financial Indicators: The financial indicators section evaluates organizational fiscal health, focusing on year-over-year profitability metrics, leverage ratios, liquidity ratios, and additional metrics, providing a comprehensive understanding of the business’s financial performance and efficiency in revenue generation from equity investments. Read more

Something Borrowed Something New is a burgeoning e-commerce enterprise specializing in wedding accessories and personalized gifts. Operating on a drop-shipping model, this business has the capability to make a significant impact in the market.

Moreover, leveraging social networking and blogging can be instrumental in generating awareness and capturing interest, thereby creating a robust online marketing strategy for Something Old and Something New.

To enhance their business operations, they are contemplating the integration of a WhatsApp CRM system. This initiative aims to optimize communication with potential customers, ensuring prompt responses to inquiries and fostering a seamless interaction process.

EPlace Solutions will be an innovative online marketplace business portal offering a variety of products to consumers throughout the globe. Founded by Mr. John Jones, a seasoned business visionary with an eye toward profit and achievement, the organization is set to enter the market in 2023.

Online shopping is at an all-time high with new consumer mindsets calling for them to shop for the types of deals and bargains that will be so much a part of the online marketplace business model.

There is an increasing demand for snack-type fast food to be consumed while window shopping and walking around inside a shopping mall.

Do you plan to start a snack bar business? Then here’s a complete snack bar startup business plan template and feasibility report you can use FREE of charge. It sounds easy to open a snack bar, but in reality, you need well-planned strategies to ensure that your business stands the test of time. 

Our snack bar business plan sample includes a detailed description of the products and services offered, as well as a market a nalysis  and competitive analysis.

It also includes a financial plan that outlines the startup costs, revenue projections, and break-even analysis. We like this sample plan because it demonstrates how to build a profitable snack bar business by creating a unique menu and offering healthy, high-quality snac ks that meet custome r demand.

Your snack shop business plan can look as polished and professional as the sample plan. It’s fun and easy, with Wise Business Plan. Let’s review the  snack shop business plan sample  and adjust them according to your audience for the best results.

A coffee shop business plan is a document that outlines what your business idea is and how it will be implemented. Its purpose is to answer questions such as what it costs to start a coffee shop, how these costs will be financed, and how much money you can expect to earn from your cafe.

Are you looking for the right business plan for your cafe? Let’s review the  Coffee shop business plan sample  to find out how cloud-based software can make your day-to-day work more efficient.

Our coffee shop business plan sample includes a detailed description of the products and services offered, as well as a market analysis and competitive analysis.

It also includes a financial plan that outlines the startup costs, revenue projections, and break-even analysis. We like this sample plan because it demonstrates how to build a profitable coffee shop business by creating a unique brand and offering high-quality products a nd customer service.

In the food industry, there is fierce competition. To ensure success, you need to hit the ground running with the right pitch. Our food house business plan is the ideal solution with an attractive design highlighting key information and conveying the right message.

This food business plan example features food images intended to tantalize the taste buds. It captures the theme perfectly and will convey the ultimate message to investors, clients and customers.

It is important to remember that the business plan template can be customized to meet your company’s specific needs and requirements. It will help showcase your business as a leader in the modern industry.

This food business plan template provides key slides to showcase everything from finances to marketing and key competitors. If you prefer, you can alter the content displayed to meet your specific needs, but this is a good starting point.

Ultimately, this  food house business plan  will be suitable for any business operating in the food industry and keen to get interested from key individuals. It will ensure that you can build up the rep of your company.

We provide a one-of-a-kind sales pitch deck designed to appeal to your prospective audience, as well as a custom presentation tailored to their information requirements.

When establishing a think tank, you will need to develop a business plan and document it properly. As a mass think tank, you need a special strategy to legalize the think tank as a non-profit organization and to raise funds for your project successfully.

Copy and print businesses offer a variety of services to both businesses and consumers. A copy and print shop can handle everything from single-page printing to large-volume jobs using several types of media.

Our printing shop business plan sample includes a detailed description of the products and services offered, as well as a market analysis and competitive analysis. It also includes a financial plan that outlines the startup costs, revenue projections, and break-even analysis. We like this sample plan because it demonstrates how to build a profitable printing shop business by offering high-quality, customized printing services with a focus on customer s ervice and efficient operations.

Let’s take a look at Printing and Photocopy Business Plan Sample that you can use to inspire your own and easily create one.

The acquisition business plan sample is intended for businesses seeking to acquire another company or merge with a competitor. This plan includes an analysis of the target company, a valuation, and a strategy for integrating the acquired business into the existing operations. We like this sample plan because it provides a clear roadmap for the acquisition process and demonstrates the potential benefits of the deal.

At Wisebusinessplans, we understand that obtaining an L1 visa for an executive or manager requires a thorough and compelling business plan.

Our L1 business plan sample includes all the necessary components to satisfy USCIS requirements and demonstrate your qualifications and your company’s viability in the US market.

The L1 business plan sample is a comprehensive plan for a new business seeking L1 visa approval for an executive or manager. This plan focuses on demonstrating the applicant’s qualifications and the company’s viability in the US market.

We like this sample plan because it is specific to the L1 visa process and includes all the necessary components to satisfy USCIS requirements.

If you’re an entrepreneur seeking E-2 visa approval, Wise Business Plans can help you create a persuasive business plan.

Our E-2 business plan sample outlines your investment, business operations, and financial projections, providing a clear and compelling case for your ability to successfully run a business and make a significant economic impact.

The E-2 business plan sample is designed for entrepreneurs seeking E-2 visa approval, which allows individuals to invest in and manage a business in the United States. This plan outlines the applicant’s investment, business operations, and financial projections. We like this sample plan because it provides a clear and compelling case for the applicant’s ability to successfully run a business and make a significant economic impact.

If you’re looking to obtain an EB-5 visa by investing in a new commercial enterprise in the United States, Wise Business Plans can help you create a compelling business plan.

Our EB-5 business plan sample includes a description of your business, a market analysis, and financial projections, providing a detailed and persuasive case for the potential success of your venture.

The EB-5 business plan sample is designed for individuals seeking to obtain an EB-5 visa by investing in a new commercial enterprise in the United States. This plan includes a description of the business, a market analysis, and financial projections. We like this sample plan because it provides a detailed and persuasive case for the potential success of the business, which is crucial for obtaining EB-5 visa approval.

If you’re seeking investment from angel investors, venture capitalists, or other private equity firms, Wise Business Plans can help you create a compelling pitch.

Our investor business plan sample includes a pitch deck, financial projections, and a detailed analysis of the market the potential return on investment and the scalability of your business.

The investor business plan sample is intended for businesses seeking to attract investment from angel investors, venture capitalists, or other private equity firms. This plan includes a pitch deck, financial projections, and a detailed analysis of the market opportunity. We like this sample plan because it emphasizes the potential return on investment and the scalability of the business.

At Wisebusinessplans, we’re committed to helping non-profit organizations achieve their social impact goals.

Our non-profit business plan sample includes a mission statement, programs and services, marketing and outreach strategies, and a financial analysis, providing a clear roadmap for establishing or expanding your organization.

The non-profit business plan sample is designed for organizations seeking to establish or expand a non-profit entity. This plan includes a mission statement, programs and services, marketing and outreach strategies, and a financial analysis. We like this sample plan because it demonstrates a strong commitment to social impact and outlines a clear strategy for achieving the organization’s goals.

Whether you’re seeking financing from a bank or other financial institution, Wise Business Plans can help you create a detailed and persuasive business plan.

Our bank business plan sample includes a thorough financial analysis, market research, and a strategy for achieving profitability, highlighting the key factors that banks consider when evaluating loan applications.

The bank business plan sample is tailored for businesses seeking financing from a bank or other financial institution. This plan includes a detailed financial analysis, market research, and a strategy for achieving profitability. We like this sample plan because it highlights the key factors that banks consider when evaluating loan applications, and provides a strong case for the borrower’s ability to repay the loan.

The cannabis industry is rapidly growing, and Wise Business Plans can help you enter it with confidence.

Our cannabis business plan sample includes a market analysis, operational strategy, and regulatory compliance a comprehensive overview of the unique challenges and opportunities in the industry and offering a clear roadmap for success.

The cannabis business plan sample is tailored for entrepreneurs seeking to enter the rapidly growing cannabis industry. This plan includes a market analysis, operational strategy, and regulatory compliance plan. We like this sample plan because it provides a comprehensive overview of the unique challenges and opportunities in the cannabis industry, and offers a clear roadmap for success.

The executive summary is a concise overview of your business plan, highlighting the key points of each section. It should capture the essence of your business, its mission, and the purpose of the business plan. This section should be written last, but it’s placed at the beginning of the business plan. Here is an example executive summary from our professional business plan written for Eplace Solution , an innovative e-commerce portal.

• Keep it brief and focused on key points.
• Clearly define the problem and your solution.
• Highlight market opportunities and growth potential.
• Showcase your team’s qualifications.
• Include financial projections.
• End with a clear call to action.
• Tailor it to your audience.
• Review and update regularly.

In this section, provide a detailed description of your company, including its history, legal structure, location, and vision. Explain your mission statement and core values that guide your business decisions. Use real-life examples of successful companies and how their strong company descriptions have contributed to their growth. In addition, you can reuse your company description on your About page, Instagram page, or other properties that ask for a boilerplate description of your business.

This section also allows you to describe how you register your business . Here you must choose whether your business is a corporation, sole proprietorship, LLC , or another type of business .

• Describe your company’s mission and vision.
• Explain what your business does and the problems it solves.
• Mention your target market and customer base.
• Highlight your unique selling points.
• Provide a brief history and background.

A market analysis analyzes how you are positioned in the market, who your target customers are, what your product or service will offer them, and industry trends. It might be useful to do a SWOT analysis to discover your strengths and weaknesses to identify market gaps that you may be able to exploit to build your business.

As part of your market research, you’ll also need to perform a competitive analysis. It will give you an idea of who your competition is and how to differentiate your brand. Here’s an example of a competitive analysis we did for a food business.

• Research and understand your industry thoroughly.
• Identify market trends and growth opportunities.
• Analyze your competitors and their strengths and weaknesses.
• Define your target audience and their needs.
• Include data and statistics to support your analysis.

Adding products and services to a business plan involves more than listing your company’s offerings. If you intend to gain funding or partner with another business, your products, and services section needs to demonstrate your company’s quality, value, and benefits.

Here’s an example of a product and service section in the business plan we wrote for an e-commerce business that offers wedding accessories.

• Clearly describe your offerings and their features.
• Explain how your products/services address customer needs.
• Highlight any unique qualities or advantages.
• Discuss your pricing strategy.
• Mention any future product/service development plans.

Here is example of services section of a bank.

It is always a good idea to have a marketing plan before launching your business. A potential investor will want to know how you will advertise your business. Therefore, you should create a marketing plan that explains your planned promotion and customer acquisition strategies.

Discuss how you will make a sale. How will you attract customers and maximize their lifetime value? Ensure your marketing and sales forecasts align with your financial forecasts Marketing plans are usually based on the four Ps : product, price, place, and promotion. Breaking it down by marketing channels makes it easier. Discuss how you intend to market your business via blogs, email, social media, and word-of-mouth. Here is an example of marketing strategies we develop for a restaurant business.

• Define your marketing goals and objectives.
• Outline your marketing strategies, including channels and tactics.
• Explain your sales strategy and target sales goals.
• Include a budget for marketing and sales activities.
• Discuss your sales team and their roles.
• Detail your customer acquisition and retention strategies.
• Mention any partnerships or collaborations for marketing and sales.

Example of marketing and sales plan section of a bank

The operation plan should include all the steps needed to run the business in the long run. The plan should include details about logistics, duties for each department of the company, and responsibilities for the team.

The main aspect of running a business is its costs. Whether it’s machinery or services, each requires capital.

how to write an operation plan in a business plan

• Describe your day-to-day business operations.
• Explain your supply chain and production processes.
• Outline your facility and equipment requirements.
• Discuss your quality control and efficiency measures.
• Mention any legal and regulatory compliance considerations.
• Detail your staffing and management structure.
• Include contingency plans for potential disruptions.

In this section, you can describe your current team and the people you need to hire. You will need to highlight your team’s relevant experience if you intend to seek funding. Basically, this is where you demonstrate that this team can be successful in starting and growing the business.

• Introduce your leadership team and their roles.
• Highlight their relevant experience and qualifications.
• Explain your organizational structure and hierarchy.
• Discuss key personnel responsibilities and functions.
• Mention any plans for team growth or development.
• Address any advisory boards or external support.

Management summary of coffee shoppe business.

A financial plan should include sales and revenue forecasts, profit and loss statements , cash flow statements , and balance sheets .

Now, if you plan to pitch investors or submit a loan application, you’ll also need a “use of funds” report. Here you outline how you plan to leverage any funding you might acquire for your business.

With our business templates , you can create your own income statement, cash flow statement, and balance sheet.

• Include detailed financial projections (income statement, cash flow, balance sheet).
• Explain your funding requirements and sources.
• Discuss your pricing and revenue model.
• Describe your expense management and cost controls.
• Mention any financial risks and mitigation strategies.
• Highlight key financial milestones and goals.

Financial highlights of foodShack business.

External drivers refer to the external factors or influences that significantly impact the activity and growth of an industry. These drivers include outsourcing of non-core activities, changes in economic activity, competition from other industries, and the complexity of business legislation.

Additionally, external drivers encompass the effects of changes in new business formation, especially among small businesses, which directly affect the demand for services within the industry.

• Identify and analyze current and emerging market trends in your industry.
• Assess potential positive or negative impacts these trends may have on your business.
• Evaluate broader economic conditions, including inflation rates, interest rates, and GDP growth.
• Elucidate how changes in economic conditions could influence consumer behavior, product demand, and overall cost structure.
• Outline key industry regulations and compliance requirements, discussing potential impacts on operations, costs, and market access.
• Highlight relevant technological advancements and explain their potential effects on your product or service offerings, operations, and competitiveness.
• Analyze current and potential future competitors, emphasizing the evolving competitive landscape’s impact on market share, pricing strategy, and overall business strategy.
• Consider social and cultural factors influencing consumer preferences and behaviors, exploring how societal changes can affect product demand.
• Evaluate environmental trends and regulations, discussing potential impacts on operations, supply chain, and customer perceptions.
• Assess political stability, government policies, and geopolitical factors, exploring potential risks and opportunities from political changes.
• Discuss global market conditions, analyzing how global economic trends, trade policies, and currency fluctuations may affect operations and expansion plans.
• Identify and discuss potential risks in the supply chain, such as disruptions, shortages, or geopolitical issues.
• Consider demographic shifts affecting your target market and discuss how changes may impact your customer base and marketing strategies.
• Highlight key legal and regulatory factors affecting the business, discussing potential legal challenges, compliance costs, and regulatory changes.
• Outline comprehensive risk management strategies, including contingency plans and risk mitigation strategies.
• Explain how you will monitor external drivers and emphasize the importance of staying agile and responsive to changes in the external environment.

The startup summary serves as a comprehensive overview of essential financial aspects, encompassing total startup expenses, the overall value of startup assets, and the total requirements, which is the cumulative sum of all expenses and startup investments.

It provides a clear financial snapshot, outlining the costs involved in launching the business, the value of assets acquired, and the overall financial needs for the startup.

This section is crucial for entrepreneurs and potential investors, offering a transparent understanding of the financial foundation required to initiate and sustain the business successfully.

This roadmap ensures a realistic evaluation of the business idea, identifying potential challenges and offering solutions.To write an effective plan, focus on what sets your venture apart from competitors, maintain conciseness, and embrace flexibility as a living document.

Answer fundamental questions about your business, create actionable checklists, execute the plan, and continually revise and update based on experiences and feedback.This iterative process fosters continuous improvement, helping entrepreneurs stay adaptable and enhance their business strategies over time.

• Clearly state the startup’s name and provide a concise description of its activities.
• Include a succinct mission statement capturing the startup’s purpose and goals, reflecting its core values.
• Specify the founding date and offer brief bios of key founders, highlighting relevant experience.
• Summarize the startup’s concept, explaining offered products or services and key distinguishing features.
• Clearly articulate the problem or need in the market that the startup addresses, defining the target audience.
• State what makes the startup unique, whether it’s a special feature, market gap, or competitive advantage.
• Provide a brief description of the market opportunity, covering target market size, trends, and growth prospects.
• Outline how the startup plans to generate revenue, detailing streams, pricing strategy, and potential partnerships.
• Offer a snapshot of the startup’s current status, highlighting key achievements such as product development or partnerships.
• If seeking funding, clearly state the amount sought and its allocation, covering areas like product development and marketing.
• Include a high-level financial summary with key projections for revenue, expenses, and profitability.
• Briefly outline future aspirations and plans, encompassing areas like expansion, product development, or strategic partnerships.

The projected industry growth is a pivotal aspect that forecasts the expansion of a specific sector over a defined timeframe.

For instance, it could provide an estimate of where that particular business will be standing in the next 10 years, and what will be the average annual growth rate of that industry.

This information provides prospective investors and stakeholders with a clear understanding of the industry’s potential and positions the startup within a dynamic and flourishing market.

• Emphasize the importance of industry trends and growth to your business.
• Provide a concise overview, including market size, major players, and recent trends.
• Briefly explain how you gathered data on industry growth projections (e.g., market research reports, expert interviews).
• Identify and discuss prevailing trends, such as technological advancements, changes in consumer behavior, and regulatory shifts.
• Summarize the industry’s historical growth, highlighting growth rates, market expansion, and notable milestones.
• Highlight key factors expected to drive industry growth, such as emerging markets, technological innovations, and demographic shifts.
• Discuss specific opportunities within the industry, including gaps in the market, underserved segments, or areas of competitive advantage.
• Acknowledge potential challenges or risks that could impact industry growth, demonstrating a realistic understanding.
• Present projections for future growth rates based on historical data, expert opinions, and your analysis. Include short-term and long-term projections.
• Discuss how key competitors are positioned to leverage industry growth, emphasizing your business’s differentiation strategies.
• Consider the regulatory landscape impacting growth, discussing anticipated changes and their potential effects on the industry.
• Explore international trends and their implications for industry growth, including factors like global economic conditions and geopolitical influences.

Here is example of market analysis section of a bank.

The break-even analysis serves as a vital financial tool, offering a detailed estimation of key metrics such as Sales Revenue, Cost of Sales, Gross Profit, Fixed Expenses, and Income Before Tax.

These critical components are visually presented through a bar graph, providing a clear and concise overview of the financial dynamics.

Additionally, the break-even analysis delves into a 12-month forecast, outlining the projected amount of revenue generated and the corresponding fixed costs.

This section is instrumental in helping stakeholders understand the financial threshold at which the business covers its costs and begins to generate profit.

• Define break-even analysis as a financial calculation where total revenue equals total costs.
• Identify constant costs regardless of production or sales levels.
• Enumerate and explain costs changing with production or sales.
• Present the break-even analysis formula, indicating the units needed to cover costs.
• Perform a practical break-even calculation using business-specific fixed costs, selling price, and variable cost per unit.
• Include a break-even chart or graph for a visual understanding of cost-revenue dynamics.
• Conduct a proactive sensitivity analysis to explore how changes in variables impact the break-even point.
• Specify the anticipated timeframe to reach the break-even point in terms of months or units sold.
• Clearly outline assumptions made in the analysis and provide justifications for transparency and credibility.
• Acknowledge potential risks or challenges that may affect the accuracy of the break-even analysis.
• Briefly mention contingency plans for difficulties in reaching the break-even point within the projected timeframe.

The management summary within the business plan provides a concise overview of the organizational structure and key personnel.

This includes a count of individuals, specifying the number of founders and operational team members integral to the organization.

The summary delves into the roles and responsibilities of each key figure, offering insights into the leadership dynamics driving the business.

Furthermore, the management summary sheds light on the financial aspect by presenting details about personal wages and payroll allocations for both founders and operational staff.

This comprehensive section ensures a clear understanding of the human resource framework and the financial commitments associated with the management team, crucial for stakeholders evaluating the business’s operational strength and leadership capability.

• Highlighting the critical role the management team plays in the business’s success, the introduction emphasizes their significance.
• Listing each key member with names, positions, and brief role summaries introduces the core of the management team.
• Providing brief biographies for each team member underscores their relevant experience, skills, achievements, and industry-specific expertise.
• Clearly outlining roles and responsibilities emphasizes how each team member’s skills contribute to the overall success of the business.
• Sharing the team’s vision and strategy involves discussing key strategic goals and outlining the plans to achieve them.
• Highlighting notable achievements or milestones showcases the team members’ successful ventures, industry recognition, or career accomplishments.
• Discussing team dynamics emphasizes collaboration and the complementary nature of their skills in driving the business forward.
• Introducing advisory board members, if applicable, underscores the additional guidance and expertise they bring to the business.
• Discussing how the team plans to contribute to future growth and development includes strategies for talent acquisition, leadership development, and succession planning.
• Touching on the team’s culture and values emphasizes their role in shaping the overall ethos of the business.
• If seeking investment, briefly mentioning how the management team plans to use funding for business growth and development provides insight into their financial strategy.

Here is example of marketing and sales plan section of a bank.

The financial indicators section within the business plan helps in evaluating the fiscal health and performance of the organization.

Year-after-year profitability estimates take center stage, encompassing key metrics such as gross margin, net profit margin, and EBITDA to revenue.

These indicators provide a comprehensive understanding of the business’s ability to generate profit relative to its revenue.

Furthermore, the financial indicators extend to leverage ratios, including the critical Debt to Equity ratio, Debt to Assets ratio, and Interest Coverage ratio.

These metrics illuminate the organization’s capital structure, debt management, and its capacity to meet interest obligations.

Liquidity ratios includes the Current Ratio and Current Debt to Total Asset Ratio.

These ratios provide insights into the company’s short-term financial health and its ability to meet immediate obligations.

The financial indicator toolbox is enriched with additional metrics, notably the Revenue to Equity ratio, which sheds light on the efficiency of generating revenue from equity investments.

• Detailed revenue forecasts for the next 3-5 years. Breakdown by product/service and geographical regions.
• Detailed breakdown of anticipated expenses. Include fixed and variable costs, operational expenses, and other relevant expenditures.
• Historical P&L statements if available. Projected future profits and losses based on revenue and expense projections.
• Outline of expected cash inflows and outflows. Emphasis on the ability to meet short-term obligations.
• Snapshot of the company’s financial position. Includes assets, liabilities, and equity.
• Calculation and presentation of key financial ratios (liquidity, solvency, profitability). Discussion on the significance of these ratios.
• Identification and explanation of relevant KPIs. Highlighting alignment with the overall business strategy.
• Discussion of potential financial risks. Mitigation strategies and addressing uncertainties.
• Clear statement of the amount and purpose of funds required.
• Outline of key assumptions underlying financial projections. Rationale for these assumptions.
• Summary of industry financial trends and business positioning. Outlook on future financial prospects considering market dynamics.

Looking For The Right Business Plan Format?

These sample business plans will provide you with a complete structure and format for your business plan, which will give you a head start on developing your document, so you won’t be stuck seeing an empty page and wondering what to write.

Simply going through the process of writing a business plan is one of its key benefits. If you sit down to write, you’ll naturally think about your startup costs, your target market , and any market analysis or research you’ll need to conduct. In addition to defining your position among your competitors, you will establish your goals and milestones.

You can see what should be included in a sample financial plan, but It is wrong to assume that a sample company’s financial projections will fit your own. If you need more resources to get you started, we recommend this guide on how to write a business plan .

In addition, you can download our 40+ free business plan templates covering a range of industries.

One-page business plans are short, compact, and to the point and are designed to make the plan easy to read at a glance. Make sure to include all of the sections, but truncate and summarize them

Start-up business plans are for businesses that are just getting started. They are usually developed to secure outside funding. In this regard, financials are of increased importance, as well as other sections that determine whether your business idea is viable, such as market research.

A strategic business plan lays out a company’s goals and how it will achieve them at a high level. It is a foundational document for the company as a whole. A strategic business plan allows all levels of the business to see the big picture, inspiring employees to work together to reach the company’s goals.

Developing a feasibility plan answers two primary questions about a business venture: who would purchase the service or product the company wants to sell, and if the venture is profitable.

Internal Business plans are geared to a specific audience within a company to keep your team on the same page and focused on the same goals.

In conclusion, whether you’re venturing into a traditional business or creating an innovative startup, the significance of a well-crafted business plan cannot be overstated. Different types of business plans cater to specific needs, from internal alignment to strategic expansion. Employing a template in MS Word ensures a polished presentation. The process of writing an executive summary, creating a plan, and defining the components of your business plan is essential.

Recognizing the need for a comprehensive and standard business plan can help guide your endeavors. Whether you choose to write a full business plan or opt for a one-page business overview, leveraging templates in MS Word can simplify the process. In essence, understanding the types of business plans and utilizing an executive summary template provides a structured approach to showcase your business overview.

Take inspiration from example business plans to tailor your strategy, ensuring a roadmap for success in the dynamic world of entrepreneurship. Always remember, a meticulously crafted business plan not only communicates your vision effectively but also serves as a valuable resource that can help secure investments and guide your business’s growth trajectory.

Begin with an executive summary, delve into market analysis, outline your strategies, create financial projections, and use available business plan examples as templates to guide your writing.

A comprehensive business plan template should encompass key sections such as an executive summary, business description, market analysis, marketing strategy, organizational structure, and financial projections. Seek templates online that cover these elements.

Tailor your business plan to the scale of your small business. Define your objectives clearly, outline cost-effective strategies, and emphasize agility in adapting to market changes.

Explore well-crafted business plan examples you can visit our website  wisebusinessplan.

The fundamental components include an executive summary, business description, market analysis, marketing and sales strategy, organizational structure, product/service description, and financial projections.

Investors focus on growth potential, detailed financial projections, market analysis, competition analysis, and the qualifications and experience of your management team when reviewing a business plan.

To find a business plan example for a tech startup,you can visit our visit wisebusinessplan .

A business plan provides a comprehensive overview of your entire business, including strategies, operations, and financials. In contrast, a business proposal typically focuses on a specific project or offer, outlining the details and benefits to a potential client.

Craft an engaging executive summary by summarizing your business’s mission, highlighting the market opportunity, showcasing your product or service, and providing a concise overview of your financial projections.

Seek tailored business plan examples for nonprofit organizations you can visit wisebusinessplan .

These business plans are written by MBA writers. Real-world use cases were used in these plans.

Get our business plan writing and consultation service.

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How to Write a Business Plan (Plus Examples & Templates)

May 24, 2021

Have you ever wondered how to write a business plan step by step? Mike Andes, told us: 

This guide will help you write a business plan to impress investors.

Throughout this process, we’ll get information from Mike Andes, who started Augusta Lawn Care Services when he was 12 and turned it into a franchise with over 90 locations. He has gone on to help others learn how to write business plans and start businesses.  He knows a thing or two about writing  business plans!

We’ll start by discussing the definition of a business plan. Then we’ll discuss how to come up with the idea, how to do the market research, and then the important elements in the business plan format. Keep reading to start your journey!

What Is a Business Plan?

A business plan is simply a road map of what you are trying to achieve with your business and how you will go about achieving it. It should cover all elements of your business including: 

• Finding customers
• Plans for developing a team
•  Competition
• Legal structures
• Key milestones you are pursuing

If you aren’t quite ready to create a business plan, consider starting by reading our business startup guide .

Get a Business Idea

Before you can write a business plan, you have to have a business idea. You may see a problem that needs to be solved and have an idea how to solve it, or you might start by evaluating your interests and skills. 

Mike told us, “The three things I suggest asking yourself when thinking about starting a business are:

• What am I good at?
• What would I enjoy doing?
• What can I get paid for?”

If all three of these questions don’t lead to at least one common answer, it will probably be a much harder road to success. Either there is not much market for it, you won’t be good at it, or you won’t enjoy doing it. 

As Mike told us, “There’s enough stress starting and running a business that if you don’t like it or aren’t good at it, it’s hard to succeed.”

If you’d like to hear more about Mike’s approach to starting a business, check out our YouTube video

Conduct Market Analysis

Market analysis is focused on establishing if there is a target market for your products and services, how large the target market is, and identifying the demographics of people or businesses that would be interested in the product or service. The goal here is to establish how much money your business concept can make.

Product and Service Demand

A search engine is your best friend when trying to figure out if there is demand for your products and services. Personally, I love using presearch.org because it lets you directly search on a ton of different platforms including Google, Youtube, Twitter, and more. Check out the screenshot for the full list of search options.

With quick web searches, you can find out how many competitors you have, look through their reviews, and see if there are common complaints about the competitors. Bad reviews are a great place to find opportunities to offer better products or services. 

If there are no similar products or services, you may have stumbled upon something new, or there may just be no demand for it. To find out, go talk to your most honest friend about the idea and see what they think. If they tell you it’s dumb or stare at you vacantly, there’s probably no market for it.

You can also conduct a survey through social media to get public opinion on your idea. Using Facebook Business Manager , you could get a feel for who would be interested in your product or service.

 I ran a quick test of how many people between 18-65  you could reach in the U.S. during a week. It returned an estimated 700-2,000 for the total number of leads, which is enough to do a fairly accurate statistical analysis.

Identify Demographics of Target Market

Depending on what type of business you want to run, your target market will be different. The narrower the demographic, the fewer potential customers you’ll have. If you did a survey, you’ll be able to use that data to help define your target audience. Some considerations you’ll want to consider are:

• Other Interests
• Marital Status
• Do they have kids?

Once you have this information, it can help you narrow down your options for location and help define your marketing further. One resource that Mike recommended using is the Census Bureau’s Quick Facts Map . He told us,  

“It helps you quickly evaluate what the best areas are for your business to be located.”

How to Write a Business Plan

Now that you’ve developed your idea a little and established there is a market for it, you can begin writing a business plan. Getting started is easier with the business plan template we created for you to download. I strongly recommend using it as it is updated to make it easier to create an action plan. 

Each of the following should be a section of your business plan:

• Business Plan Cover Page
• Table of Contents
• Executive Summary
• Company Description
• Description of Products and Services

SWOT Analysis

• Competitor Data
• Competitive Analysis
• Marketing Expenses Strategy 

Pricing Strategy

• Distribution Channel Assessment
• Operational Plan
• Management and Organizational Strategy
• Financial Statements and/or Financial Projections

We’ll look into each of these. Don’t forget to download our free business plan template (mentioned just above) so you can follow along as we go. 

How to Write a Business Plan Step 1. Create a Cover Page

The first thing investors will see is the cover page for your business plan. Make sure it looks professional. A great cover page shows that you think about first impressions.

A good business plan should have the following elements on a cover page:

• Professionally designed logo
• Company name
• Mission or Vision Statement
• Contact Info

Basically, think of a cover page for your business plan like a giant business card. It is meant to capture people’s attention but be quickly processed.

How to Write a Business Plan Step 2. Create a Table of Contents

Most people are busy enough that they don’t have a lot of time. Providing a table of contents makes it easy for them to find the pages of your plan that are meaningful to them.

A table of contents will be immediately after the cover page, but you can include it after the executive summary. Including the table of contents immediately after the executive summary will help investors know what section of your business plan they want to review more thoroughly.

Check out Canva’s article about creating a  table of contents . It has a ton of great information about creating easy access to each section of your business plan. Just remember that you’ll want to use different strategies for digital and hard copy business plans.

How to Write a Business Plan Step 3. Write an Executive Summary

An executive summary is where your business plan should catch the readers interest.  It doesn’t need to be long, but should be quick and easy to read.

Mike told us,

How long should an executive summary bein an informal business plan?

For casual use, an executive summary should be similar to an elevator pitch, no more than 150-160 words, just enough to get them interested and wanting more. Indeed has a great article on elevator pitches .  This can also be used for the content of emails to get readers’ attention.

It consists of three basic parts:

• An introduction to you and your business.
• What your business is about.
• A call to action

Example of an informal executive summary 

One of the best elevator pitches I’ve used is:

So far that pitch has achieved a 100% success rate in getting partnerships for the business.

What should I include in an executive summary for investors?

Investors are going to need a more detailed executive summary if you want to secure financing or sell equity. The executive summary should be a brief overview of your entire business plan and include:

• Introduction of yourself and company.
• An origin story (Recognition of a problem and how you came to solution)
• An introduction to your products or services.
• Your unique value proposition. Make sure to include intellectual property.
• Where you are in the business life cycle
• Request and why you need it.

Successful business plan examples

The owner of Urbanity told us he spent 2 months writing a 75-page business plan and received a $250,000 loan from the bank when he was 23. Make your business plan as detailed as possible when looking for financing. We’ve provided a template to help you prepare the portions of a business plan that banks expect.

Here’s the interview with the owner of Urbanity:

When to write an executive summary?

Even though the summary is near the beginning of a business plan, you should write it after you complete the rest of a business plan. You can’t talk about revenue, profits, and expected expenditures if you haven’t done the market research and created a financial plan.

What mistakes do people make when writing an executive summary?

Business owners commonly go into too much detail about the following items in an executive summary:

• Marketing and sales processes
• Financial statements
• Organizational structure
• Market analysis

These are things that people will want to know later, but they don’t hook the reader. They won’t spark interest in your small business, but they’ll close the deal.

How to Write a Business Plan Step 4. Company Description

Every business plan should include a company description. A great business plan will include the following elements while describing the company:

• Mission statement
• Philosophy and vision
• Company goals

Target market

• Legal structure

Let’s take a look at what each section includes in a good business plan.

Mission Statement

A mission statement is a brief explanation of why you started the company and what the company’s main focus is. It should be no more than one or two sentences. Check out HubSpot’s article 27 Inspiring Mission Statement for a great read on informative and inspiring mission and vision statements. 

Company Philosophy and Vision

The company philosophy is what drives your company. You’ll normally hear them called core values.  These are the building blocks that make your company different. You want to communicate your values to customers, business owners, and investors as often as possible to build a company culture, but make sure to back them up.

What makes your company different?

Each company is different. Your new business should rise above the standard company lines of honesty, integrity, fun, innovation, and community when communicating your business values. The standard answers are corporate jargon and lack authenticity. 

Examples of core values

One of my clients decided to add a core values page to their website. As a tech company they emphasized the values:

•  Prioritize communication.
•  Never stop learning.
•  Be transparent.
•  Start small and grow incrementally.

These values communicate how the owner and the rest of the company operate. They also show a value proposition and competitive advantage because they specifically focus on delivering business value from the start. These values also genuinely show what the company is about and customers recognize the sincerity. Indeed has a great blog about how to identify your core values .

What is a vision statement?

A vision statement communicate the long lasting change a business pursues. The vision helps investors and customers understand what your company is trying to accomplish. The vision statement goes beyond a mission statement to provide something meaningful to the community, customer’s lives, or even the world.

Example vision statements

The Alzheimer’s Association is a great example of a vision statement:

A world without Alzheimer’s Disease and other dementia.

It clearly tells how they want to change the world. A world without Alzheimers might be unachievable, but that means they always have room for improvement.

Business Goals

You have to measure success against goals for a business plan to be meaningful. A business plan helps guide a company similar to how your GPS provides a road map to your favorite travel destination. A goal to make as much money as possible is not inspirational and sounds greedy.

Sure, business owners want to increase their profits and improve customer service, but they need to present an overview of what they consider success. The goals should help everyone prioritize their work.

How far in advance should a business plan?

Business planning should be done at least one year in advance, but many banks and investors prefer three to five year business plans. Longer plans show investors that the management team  understands the market and knows the business is operating in a constantly shifting market. In addition, a plan helps businesses to adjust to changes because they have already considered how to handle them.

Example of great business goals

My all time-favorite long-term company goals are included in Tesla’s Master Plan, Part Deux . These goals were written in 2016 and drive the company’s decisions through 2026. They are the reason that investors are so forgiving when Elon Musk continually fails to meet his quarterly and annual goals.

If the progress aligns with the business plan investors are likely to continue to believe in the company. Just make sure the goals are reasonable or you’ll be discredited (unless you’re Elon Musk).

You did target market research before creating a business plan. Now it’s time to add it to the plan so others understand what your ideal customer looks like. As a new business owner, you may not be considered an expert in your field yet, so document everything. Make sure the references you use are from respectable sources. 

Use information from the specific lender when you are applying for lending. Most lenders provide industry research reports and using their data can strengthen the position of your business plan.

A small business plan should include a section on the external environment. Understanding the industry is crucial because we don’t plan a business in a vacuum. Make sure to research the industry trends, competitors, and forecasts. I personally prefer IBIS World for my business research. Make sure to answer questions like:

• What is the industry outlook long-term and short-term?
• How will your business take advantage of projected industry changes and trends?
• What might happen to your competitors and how will your business successfully compete?

Industry resources

Some helpful resources to help you establish more about your industry are:

• Trade Associations
• Federal Reserve
• Bureau of Labor Statistics

Legal Structure

There are five basic types of legal structures that most people will utilize:

• Sole proprietorships
• Limited Liability Companies (LLC)

Partnerships

Corporations.

• Franchises.

Each business structure has their pros and cons. An LLC is the most common legal structure due to its protection of personal assets and ease of setting up. Make sure to specify how ownership is divided and what roles each owner plays when you have more than one business owner.

You’ll have to decide which structure is best for you, but we’ve gathered information on each to make it easier.

Sole Proprietorship

A sole proprietorship is the easiest legal structure to set up but doesn’t protect the owner’s personal assets from legal issues. That means if something goes wrong, you could lose both your company and your home.

To start a sole proprietorship, fill out a special tax form called a  Schedule C . Sole proprietors can also join the American Independent Business Alliance .

Limited Liability Company (LLC)

An LLC is the most common business structure used in the United States because an LLC protects the owner’s personal assets. It’s similar to partnerships and corporations, but can be a single-member LLC in most states. An LLC requires a document called an operating agreement.

Each state has different requirements. Here’s a link to find your state’s requirements . Delaware and Nevada are common states to file an LLC because they are really business-friendly. Here’s a blog on the top 10 states to get an LLC.

Partnerships are typically for legal firms. If you choose to use a partnership choose a Limited Liability Partnership. Alternatively, you can just use an LLC.

Corporations are typically for massive organizations. Corporations have taxes on both corporate and income tax so unless you plan on selling stock, you are better off considering an LLC with S-Corp status . Investopedia has good information corporations here .

There are several opportunities to purchase successful franchises. TopFranchise.com has a list of companies in a variety of industries that offer franchise opportunities. This makes it where an entrepreneur can benefit from the reputation of an established business that has already worked out many of the kinks of starting from scratch.

How to Write a Business Plan Step 5. Products and Services

This section of the business plan should focus on what you sell, how you source it, and how you sell it. You should include:

• Unique features that differentiate your business products from competitors
• Intellectual property
• Your supply chain
• Cost and pricing structure 

Questions to answer about your products and services

Mike gave us a list  of the most important questions to answer about your product and services:

• How will you be selling the product? (in person, ecommerce, wholesale, direct to consumer)?
• How do you let them know they need a product?
• How do you communicate the message?
• How will you do transactions?
• How much will you be selling it for?
• How many do you think you’ll sell and why?

Make sure to use the worksheet on our business plan template .

How to Write a Business Plan Step 6. Sales and Marketing Plan

The marketing and sales plan is focused on the strategy to bring awareness to your company and guides how you will get the product to the consumer.  It should contain the following sections:

SWOT Analysis stands for strengths, weaknesses, opportunities, and threats. Not only do you want to identify them, but you also want to document how the business plans to deal with them.

Business owners need to do a thorough job documenting how their service or product stacks up against the competition.

If proper research isn’t done, investors will be able to tell that the owner hasn’t researched the competition and is less likely to believe that the team can protect its service from threats by the more well-established competition. This is one of the most common parts of a presentation that trips up business owners presenting on Shark Tank .

SWOT Examples

Examples of strengths and weaknesses could be things like the lack of cash flow, intellectual property ownership, high costs of suppliers, and customers’ expectations on shipping times.

Opportunities could be ways to capitalize on your strengths or improve your weaknesses, but may also be gaps in the industry. This includes:

• Adding offerings that fit with your current small business
• Increase sales to current customers
• Reducing costs through bulk ordering
• Finding ways to reduce inventory
•  And other areas you can improve

Threats will normally come from outside of the company but could also be things like losing a key member of the team. Threats normally come from competition, regulations, taxes, and unforeseen events.

The management team should use the SWOT analysis to guide other areas of business planning, but it absolutely has to be done before a business owner starts marketing. 

Include Competitor Data in Your Business Plan

When you plan a business, taking into consideration the strengths and weaknesses of the competition is key to navigating the field. Providing an overview of your competition and where they are headed shows that you are invested in understanding the industry.

For smaller businesses, you’ll want to search both the company and the owners names to see what they are working on. For publicly held corporations, you can find their quarterly and annual reports on the SEC website .

What another business plans to do can impact your business. Make sure to include things that might make it attractive for bigger companies to outsource to a small business.

Marketing Strategy

The marketing and sales part of business plans should be focused on how you are going to make potential customers aware of your business and then sell to them.

If you haven’t already included it, Mike recommends:

“They’ll want to know about Demographics, ages, and wealth of your target market.”

Make sure to include the Total addressable market .  The term refers to the value if you captured 100% of the market.

Advertising Strategy

You’ll explain what formats of advertising you’ll be using. Some possibilities are:

• Online: Facebook and Google are the big names to work with here.
• Print : Print can be used to reach broad groups or targeted markets. Check out this for tips .
• Radio : iHeartMedia is one of the best ways to advertise on the radio
• Cable television : High priced, hard to measure ROI, but here’s an explanation of the process
• Billboards: Attracting customers with billboards can be beneficial in high traffic areas.

You’ll want to define how you’ll be using each including frequency, duration, and cost. If you have the materials already created, including pictures or links to the marketing to show creative assets.

Mike told us “Most businesses are marketing digitally now due to Covid, but that’s not always the right answer.”

Make sure the marketing strategy will help team members or external marketing agencies stay within the brand guidelines .

This section of a business plan should be focused on pricing. There are a ton of pricing strategies that may work for different business plans. Which one will work for you depends on what kind of a business you run.

Some common pricing strategies are:

• Value-based pricing – Commonly used with home buying and selling or other products that are status symbols.
• Skimming pricing – Commonly seen in video game consoles, price starts off high to recoup expenses quickly, then reduces over time.
• Competition-based pricing – Pricing based on competitors’ pricing is commonly seen at gas stations.
• Freemium services –  Commonly used for software, where there is a free plan, then purchase options for more functionality.

HubSpot has a great calculator and blog on pricing strategies.

Beyond explaining what strategy your business plans to use, you should include references for how you came to this pricing strategy and how it will impact your cash flow.

Distribution Plan

This part of a business plan is focused on how the product or service is going to go through the supply chain. These may include multiple divisions or multiple companies. Make sure to include any parts of the workflow that are automated so investors can see where cost savings are expected and when.

Supply Chain Examples

For instance, lawn care companies  would need to cover aspects such as:

• Suppliers for lawn care equipment and tools
• Any chemicals or treatments needed
• Repair parts for sprinkler systems
• Vehicles to transport equipment and employees
• Insurance to protect the company vehicles and people.

Examples of Supply Chains

These are fairly flat supply chains compared to something like a clothing designer where the clothes would go through multiple vendors. A clothing company might have the following supply chain:

• Raw materials
• Shipping of raw materials
• Converting of raw materials to thread
• Shipping thread to produce garments
• Garment producer
• Shipping to company
• Company storage
• Shipping to retail stores

There have been advances such as print on demand that eliminate many of these steps. If you are designing completely custom clothing, all of this would need to be planned to keep from having business disruptions.

The main thing to include in the business plan is the list of suppliers, the path the supply chain follows, the time from order to the customer’s home, and the costs associated with each step of the process.

According to BizPlanReview , a business plan without this information is likely to get rejected because they have failed to research the key elements necessary to make sales to the customer.

How to Write a Business Plan Step 7. Company Organization and Operational Plan

This part of the business plan is focused on how the business model will function while serving customers.  The business plan should provide an overview of  how the team will manage the following aspects:

Quality Control

• Legal environment

Let’s look at each for some insight.

Production has already been discussed in previous sections so I won’t go into it much. When writing a business plan for investors, try to avoid repetition as it creates a more simple business plan.

If the organizational plan will be used by the team as an overview of how to perform the best services for the customer, then redundancy makes more sense as it communicates what is important to the business.

Quality control policies help to keep the team focused on how to verify that the company adheres to the business plan and meets or exceeds customer expectations.

Quality control can be anything from a standard that says “all labels on shirts can be no more than 1/16″ off center” to a defined checklist of steps that should be performed and filled out for every customer.

There are a variety of organizations that help define quality control including:

• International Organization for Standardization – Quality standards for energy, technology, food, production environments, and cybersecurity
• AICPA – Standard defined for accounting.
• The Joint Commission – Healthcare
• ASHRAE – HVAC best practices

You can find lists of the organizations that contribute most to the government regulation of industries on Open Secrets . Research what the leaders in your field are doing. Follow their example and implement it in your quality control plan.

For location, you should use information from the market research to establish where the location will be. Make sure to include the following in the location documentation.

• The size of your location
• The type of building (retail, industrial, commercial, etc.)
• Zoning restrictions – Urban Wire has a good map on how zoning works in each state
• Accessibility – Does it meet ADA requirements?
• Costs including rent, maintenance, utilities, insurance and any buildout or remodeling costs
• Utilities – b.e.f. has a good energy calculator .

Legal Environment

The legal requirement section is focused on defining how to meet the legal requirements for your industry. A good business plan should include all of the following:

• Any licenses and/or permits that are needed and whether you’ve obtained them
• Any trademarks, copyrights, or patents that you have or are in the process of applying for
• The insurance coverage your business requires and how much it costs
• Any environmental, health, or workplace regulations affecting your business
• Any special regulations affecting your industry
• Bonding requirements, if applicable

Your local SBA office can help you establish requirements in your area. I strongly recommend using them. They are a great resource.

Your business plan should include a plan for company organization and hiring. While you may be the only person with the company right now, down the road you’ll need more people. Make sure to consider and document the answers to the following questions:

• What is the current leadership structure and what will it look like in the future?
• What types of employees will you have? Are there any licensing or educational requirements?
• How many employees will you need?
• Will you ever hire freelancers or independent contractors?
• What is each position’s job description?
• What is the pay structure (hourly, salaried, base plus commission, etc.)?
• How do you plan to find qualified employees and contractors?

One of the most crucial parts of a business plan is the organizational chart. This simply shows the positions the company will need, who is in charge of them and the relationship of each of them. It will look similar to this:

Our small business plan template has a much more in-depth organizational chart you can edit to include when you include the organizational chart in your business plan.

How to Write a Business Plan Step 8. Financial Statements 

No business plan is complete without financial statements or financial projections. The business plan format will be different based on whether you are writing a business plan to expand a business or a startup business plan. Let’s dig deeper into each.

Provide All Financial Income from an Existing Business

An existing business should use their past financial documents including the income statement, balance sheet, and cash flow statement to find trends to estimate the next 3-5 years.

You can create easy trendlines in excel to predict future revenue, profit and loss, cash flow, and other changes in year-over-year performance. This will show your expected performance assuming business continues as normal.

If you are seeking an investment, then the business is probably not going to continue as normal. Depending on the financial plan and the purpose of getting financing, adjustments may be needed to the following:

• Higher Revenue if expanding business
• Lower Cost of Goods Sold if purchasing inventory with bulk discounts
• Adding interest if utilizing financing (not equity deal)
• Changes in expenses
• Addition of financing information to the cash flow statement
• Changes in Earnings per Share on the balance sheet

Financial modeling is a challenging subject, but there are plenty of low-cost courses on the subject. If you need help planning your business financial documentation take some time to watch some of them.

Make it a point to document how you calculated all the changes to the income statement, balance sheet, and cash flow statement in your business plan so that key team members or investors can verify your research.

Financial Projections For A Startup Business Plan

Unlike an existing business, a startup doesn’t have previous success to model its future performance. In this scenario, you need to focus on how to make a business plan realistic through the use of industry research and averages.

Mike gave the following advice in his interview:

Financial Forecasting Mistakes

One of the things a lot of inexperienced people use is the argument, “If I get one percent of the market, it is worth $100 million.” If you use this, investors are likely to file the document under bad business plan examples.

Let’s use custom t-shirts as an example.

Credence Research estimated in 2018 there were 11,334,800,000 custom t-shirts sold for a total of $206.12 Billion, with a 6% compound annual growth rate.

With that data,  you can calculate that the industry will grow to $270 Billion in 2023 and that the average shirt sold creates $18.18 in revenue.

Combine that with an IBIS World estimate of 11,094 custom screen printers and that means even if you become an average seller, you’ll get .009% of the market.

Here’s a table for easier viewing of that information.

The point here is to make sure your business proposal examples make sense.

You’ll need to know industry averages such as cost of customer acquisition, revenue per customer, the average cost of goods sold, and admin costs to be able to create accurate estimates.

Our simple business plan templates walk you through most of these processes. If you follow them you’ll have a good idea of how to write a business proposal.

How to Write a Business Plan Step 9. Business Plan Example of Funding Requests

What is a business plan without a plan on how to obtain funding?

The Small Business Administration has an example for a pizza restaurant that theoretically needed nearly $20k to make it through their first month.

In our video, How to Start a $500K/Year T-Shirt Business (Pt. 1 ), Sanford Booth told us he needed about $200,000 to start his franchise and broke even after 4 months.

Freshbooks estimates it takes on average 2-3 years for a business to be profitable, which means the fictitious pizza company from the SBA could need up to $330k to make it through that time and still pay their bills for their home and pizza shop.

Not every business needs that much to start, but realistically it’s a good idea to assume that you need a fairly large cushion.

Ways to get funding for a small business

There are a variety of ways to cover this. the most common are:

• Bootstrapping – Using your savings without external funding.
• Taking out debt – loans, credit cards
• Equity, Seed Funding – Ownership of a percentage of the company in exchange for current funds
• Crowdsourcing – Promising a good for funding to create the product

Keep reading for more tips on how to write a business plan.

How funding will be used

When asking for business financing make sure to include:

• How much to get started?
• What is the minimum viable product and how soon can you make money?
• How will the money be spent?

Mike emphasized two aspects that should be included in every plan, 

How to Write a Business Plan Resources

Here are some links to a business plan sample and business plan outline. 

• Sample plan

It’s also helpful to follow some of the leading influencers in the business plan writing community. Here’s a list:

• Wise Plans –  Shares a lot of information on starting businesses and is a business plan writing company.
• Optimus Business Plans –  Another business plan writing company.
• Venture Capital – A venture capital thread that can help give you ideas.

How to Write a Business Plan: What’s Next?

We hope this guide about how to write a simple business plan step by step has been helpful. We’ve covered:

• The definition of a business plan
• Coming up with a business idea
• Performing market research
• The critical components of a business plan
• An example business plan

In addition, we provided you with a simple business plan template to assist you in the process of writing your startup business plan. The startup business plan template also includes a business model template that will be the key to your success.

Don’t forget to check out the rest of our business hub .

Have you written a business plan before? How did it impact your ability to achieve your goals?

80% of businesses fail... Learn how not to.

Learn from business failures and successes in 5 min or less. The stories, frameworks, and tactics that will make you a 10x better founder.

Brandon Boushy

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532 Buzzworthy Gym Names (for 2024)

Creative gym name ideas are a great way to make your gym stand out against all the other fitness businesses in the fitness market today.

[su_note note_color="#dbeafc"] We’ll discuss the size of the fitness sector, how to choose gym names, provide lots of inspiration for fitness brand name ideas, and give you some information on how to register the name for your gym. Click on any of the links below to jump straight to that section.

How big is the fitness industry?

How to choose a gym name, what should i name my gym, 72 cool gym names, 20 creative gym names, 110 health and fitness business names, 42 fitness club names, 34 gym business name ideas you’ll love, 30 female gym names, 60 fitness center names, 20 funny gym names, 20 home gym name ideas, 30 crossfit gym names, 30 fitness page name ideas, 34 gym clothing brand name ideas, how to register your gym name.

• What gym name inspires you? [/su_note]

Get ready to learn more about good gym name ideas.

The fitness industry has declined by a compound annual growth rate of -6.5% since 2018 , but much of that is due to the huge drop in business during the pandemic.

Last year saw a 0.6% increase to $30.8 billion , and a fitness business that focuses on providing at-home services can do much better.

There are a few things to consider when considering gym name ideas including:

• Your target audience: What type of people do you want to attract to your gym? Consider their demographics, fitness goals, and interests.
• Your gym's location: The name of your gym should reflect the area where it is located. For example, if your gym is in a beach town, you might choose a name that incorporates the word beach or ocean .
• Your gym's atmosphere: What kind of atmosphere do you want to create at your gym? Do you want it to be a fun and social environment or a more serious and results-oriented environment?
• Your gym's values: What are the core values of your gym? Do you want to promote health and wellness or a more competitive and athletic environment?
• Your budget: How much money can you spend on marketing your gym? A catchy and memorable name can help you attract new customers and stand out from the competition.

Consider these 30 gym names for your fitness business:

1. Vitality Forge 2. Iron Forge Fitness 3. Peak Performance Palace 4. Energy Emporium Gym 5. Fit Fusion Center 6. Strength Sanctuary 7. Revitalize Fitness Hub 8. The Flex Factor 9. Evolve Fitness Studio 10. Momentum Fitness Club 11. Loft FlexFit Fusion 12. Energize Evolution Fitness 13. PowerPlay Performance Gym 14. Revitalize Reach Fitness 15. Dynamic Drive Gym

16. Zone Fitness Hub 17. Vitality Vision Fitness 18. FlexFlow Fusion Gym 19. PulsePoint Performance 20. Revival Fitness 21. Iron Intentions Fitness 22. Optimal Outlook Fitness 23. FlexForward Gym 24. PulsePeak Performance 25. Elevate You Fitness 26. PowerPulse Performance Gym 27. Inner Impact Gym 28. FitFlare Fusion Fitness 29. Stamina Stronghold Fitness Center 30. Infinity Impact Gym

Pro Tip: Consider what sets your gym apart and what message you want to send to potential members. Whether it's about strength, community, energy, or something else, let that guide your decision.

Keep reading for more gym name ideas.

It’s not just a place to work out—a gym or fitness club should have a brand name that your customers will happily share and maybe even wear. 

1. Fit Fusion Gym 2. Vitality Vault Fitness 3. FlexFlow Fitness 4. Revive Rise Gym 5. PowerPulse 6. Iron Core Gym 7. Elevate Edge Fitness 8. Flex Factor Gym 9. FitSphere Studio 10. CoreCraft Fitness 11. Zenith Zone Gym 12. Energize Elite Fitness 13. Optimum Outcome Gym 14. Peak Performance Studio 15. Vitalize Venue Fitness 16. Swift Sweat Gym 17. Elite Energy Fitness 18. Active Axis Gym 19. Recharge Routines Fitness 20. Stamina Strong Gym 21. Infinity Impact Fitness 22. Blaze Body Gym 23. FitFlare Fitness 24. Vigor Victory Gym 25. Momentum Moves Gym 26. Vital Vortex Fitness 27. Prodigy Peak Gym 28. Sculpt Stronger Fitness 29. Inner Edge Gym 30. Flexfinity Fitness 31. PulsePoint Gym 32. CoreCrafters Fitness 33. Vigorous Vitality Gym 34. FlexFit Fusion 35. Energize Evolution Gym 36. PowerPlay Fitness

37. Revitalize Reach Gym 38. Dynamic Drive Fitness 39. Vitality Vision Gym 40. FlexFlow Fusion 41. Uncle Rob’s Fitness Center 42. FitFactor Gym 43. Rhythm Fitness 44. Iron Will Studio 45. CoreCraft Fitness Studio 46. FlexForward Fitness 47. PulsePeak Gym 48. Elevate Energize Fitness 49. PowerPulse Performance 50. Vigor Vertex Gym 51. Inner Impact Fitness 52. FitFlare Fusion Gym 53. Elite Edge Fitness 54. Bio Optum Gym 55. Clear Impact Fitness 56. Blaze Bodyworks Gym 57. Caracas Fitness 58. Gym Optum 59. Prodigy Peak Performance 60. Momentum Moves Fitness 61. Vital Vortex Gym 62. CoreCrafters Gym 63. Vigorous Vitality Fitness 64. The Body Works Fitness 65.Vitalize Venue Fitness Hub 66. Optimum Outcome Fitness 67. Core Catalyst Gym 68. Vital Vortex Fitness Hub 69. Sculpt Stronger Gym 70. Swift Sweat Fitness 71. CoreCrafters Fitness Hub 72. FlexFit Fusion Fitness Center

Pro Tip: Your fitness brand will have to live with the name you choose. Be descriptive so potential customers know what you do and why they should join your gym. Narrow down your top business name ideas and then make a few logos and imagine each one on a sign in front of your fitness business.

If you’re looking for creative names for gyms, these should get your creative juices flowing.

1. Blissful Blast Workout Centre 2. Euphoric Energy Empire 3. Joyful Jive Junction 4. Active Adventure Arena 5. HappyHeart Heights 6. Fun Fuel Fitness Hub 7. Radiant Rhythms Studio 8. Glee & Gain Gym 9. Laugh & Lift Lounge 10. Bounce Back Bodyworks

11. Playful Pulse Studio 12. Energize & Engage Fitness 13. Sweat Junction 14. Blissful Burn Gym 15. Merry Motion Studio 16. Giddy Gains Gymnasium 17. Express Sweat Hub 18. Bodyworks Boutique 19. Sparkle & Sweat Sanctuary 20. Joyful Jive Gymnasium

The fitness industry isn’t all about gym names. A fitness brand can focus on products, services, and education, too. Consider some of these fitness business name ideas for your new brand name.

In the fitness industry, it’s important to create your brand name around your gym’s mission and purpose. Is it a yoga studio? Do you offer fitness classes? Is it a boutique gym or a powerlifting gym? Get as specific as possible as you consider your gym’s values and target audience.

21. Fitness Connection 22. Strength Studio 23. Fitness Factory 24. Late Night Fitness 25. Flex Studios 26. Fitness Raise LLC 27. Living Fitness Sanctuary 28. Gym Perfectly 29. Fitness Enthusiasts Dating (FED) 30. Level Fitness 31. Paddle Ball Palace 32. Happy Healthy HQ 33. JoyFit Junction 34. Radiant Routines 35. BounceBack Fitness 36. Zest Zone Studio 37. Smile & Sweat Gym 38. Fit & Fab Funhouse 39. Thrive Tribe Fitness 40. CheerFit Central 41. Energetic Oasis 42. Playful Pump Gym 43. Wellness Wonderland 44. Sunny Side Fitness 45. Energy Expedition 46. FunFit Factory 47. Vibrant Vitality Venue 48. Sparkle & Sweat Studio 49. Motion Magic Gym 50. Grin & Grind Fitness 51. Lively Lift Studio 52. JumpJoy Gym 53. Laugh & Lift Center 54. Blissful Bodyworks 55. Move & Groove Gym 56. Jolly Jumpstart Fitness 57. Active Adventure Hub 58. Sprightly Sprint Studio 59. Radiate & Reshape 60. ZingZone Fitness 61. Fitness Fiesta 62. ThrillFit Haven 63. Joyful Jive Gym 64. Smile & Sculpt Studio 65. HappyHeart Fitness

66. Bounce & Burn Gym 67. FunFlare Fitness 68. Euphoric Exercise Empire 69. FrolicFit Funhouse 70. Grin & Grind Gym 71. Lively Life Studio 72. Joyful Jumps Fitness 73. Glee & Glow Gym 74. Cheerful Circuit Center 75. GiddyUp Gym 76. Bubbly Bodyworks 77. Playful Pulse Fitness 78. Smiling Strength Studio 79. Energize & Engage Gym 80. Jovial Jumpstart Fitness 81. Spark & Sweat Studio 82. Happy Health Hub 83. Joyful Journey Fitness 84. Zestful Zone Gym 85. FunFuel Fitness 86. Radiant Rhythms Gym 87. Thrive & Thrill Fitness 88. Active Amusement Gym 89. Glee & Gain Studio 90. LaughFit Lounge 91. Merry Motion Gym 92. HappyHeart Haven 93. Blissful Burn Studio 94. Grin & Grow Gym 95. Jolly Jumps Fitness 96. Joyful Jive Studio 97. Smile & Sculpt Gym 98. FrolicFit Funzone 99. GiddyGains Gym 100. Energetic Expression Studio 101. Bounce & Burn Fitness 102. Lively Lift Lounge 103. The Jumpstart Gym 104. Sparkle & Sweat Fitness 105. Bubbly Body Boost 106. FunFusion Fitness 107. Radiate & Reshape Studio 108. Energize & Excite Gym 109. Fit & Fun Fiesta 110. Thrive & Thrill Studio

Pro Tip: Other fitness companies utilize their locations to name their gym. Whether you want to use your location, your mission, your own name, or your target audience, come up with a catchy gym name so you’ll be sure to bring in new customers.

Gym name ideas for fitness clubs can include words like gym , iron , tribe , fitness . They can also include center , club , core , crunch . If it’s a CrossFit gym, make sure you state that in your gym name.

1. Active Ascent Fitness 2. The Double Down 3. Vitality Vanguard Club 4. Triple Flex Fitness 5. PowerPulse Club 6. Elite Energy Emporium 7. Rocky Fitness 8. Outcomes Gym 9. Prodigy Peak Fitness 10. Elevate Edge Club 11. Vigor Vertex Fitness 12. EnStudio Fitness 13. Zenith Zone Gymnasium 14. Higher Impact Fitness 15. Flexfinity Fitness Hub 16. ClearGold Gym 17. PulsePoint Fitness 18. Dynamic Drive Gymnasium 19. Club Ascent 20. Optimum Outcome Gymnasium 21. Together Bodyworks

22. Upper Vitality Gym 23. Sweats Given Fitness 24. FlexFit Fusion Gymnasium 25. Inner Edge Fitness 26. FlexFlare Fitness 27. Infinity Impact Gymnasium 28. Blaze Bodyworks Club 29. EnMotion Fitness 30. Prodigy Peak Gymnasium 31. Onward Fitness 32. Energize Evolution Gymnasium 33. Motion Bodyworks 34. Zone In Fitness 35. Revolution Fitness 36. PowerPulse Fitness 37. Optimum Outcome 38. Core Catalyst Gymnasium 39. Sculpt Stronger 40. Momentum Moves Gymnasium 41. Energize Evolution Club 42. PowerPulse Gymnasium

Pro Tip: You want the fitness business name you choose to empower those in the fitness community to come out and join. When selecting gym names, imagine your advertising and marketing materials. What imagery do you envision on them and what story do they tell?

Gym business name ideas for your very own gym should build strong brand identity in your local area. Another thing to consider is your fitness business management software. Before you can start loading that up with information, pick your name and register it with your state.

1. Peak Performance Fitness 2. Iron Edge Gym 3. Vitality Vibe Fitness 4. Crafted Fitness 5. Prodigy Power Gym 6. Sonoma County Fitness 7. Flex Fusion Gym 8. Vigor Vault Fitness 9. Greater Heights Gym 10. Dynamic Fitness 11. Loft Outcomes 12. Move Up Gym 13. Essential Vitality Gym 14. Core Catalyst Fitness 15. High Impact Gym 16. Energy Evolution Fitness 17. The Inner Edge

18. FitFlare 19. Core Mantra Fitness 20. Active Ascent Gym 21. Radiant Routines Fitness 22. Iron Intentions Fitness 23. FlexFit Fusion Gym 24. Zenith Zone Fitness Hub 25. Optimal Outcome Fitness 26. Blaze Bodyworks Fitness 27. The Thrive Tribe 28. Vitality Vanguard Gym 29. Flex Fusion Fitness 30. Asana Fitness Studio 31. Elevate Energy Fitness 32. Pulse Fitness 33. FlexCraft Fitness 34. LC Living Fitness

Pro Tip: Don’t get too hung up on cool gym names when your fitness offerings are more important. What you offer to your guests should be crystal clear in your name. It’s possible to find unique gym names, but you really want to be specific if you’re an all women’s gym, a CrossFit gym, or a general fitness gym.

A fitness gym can have success focusing on a specific demographic. Women-only gyms are a great place for women to work out without being judged (or bothered!) by the opposite sex. Consider some of these names for your fitness gym for women.

1. Women's Fitness Haven 2. Empower Studio 3. The StrongHER Gym 4. Fit & Fearless 5. Elevate Her Fitness 6. She Thrives Fitness 7. The Fierce Female Gym 8. Curves & Confidence Studio 9. Women's Wellness Center 10. She's Got Power Fitness 11. EmpowerHER Gym 12. Fierce Femme Fitness 13. Lady Strong Gym 14. The Women's Strength Sanctuary 15. She Lifts Fitness

16. The Female Fitness Haven 17. Lady Gang, Inc. 18. Divine Strength Studio 19. Women's Fit & Fab Studio 20. Fierce Fit Females Gym 21. The Empowered Women's Gym 22. Female Fitness Factory 23. She Moves Fitness 24. Women's Workout Wonderland 25. Goddess Fitness Studio 26. The Female Fitness Hub 27. She's Got Grit Fitness 28. The Women's Wellness Sanctuary 29. Feminine Fitness Powerhouse 30. Lady Strength Studio

Pro Tip: Gyms for women should go with a brand name that is inspiring to women (avoiding patronizing gym nicknames for ladies) and focus on providing a service that caters to what women in the area expect.

Fitness centers and health clubs are slightly different from gyms. You may not want to go with run-of-the-mill gym names when you operate a fitness studio. If your club offers classes and lots of weightlifting options, you will want that to be known in your advertising and marketing materials.

1. FitFusion Hub 2. Vitality Vibe Gymnasium 3. Essential Fitness 4. Elevate Fitness 5. InFusion Fitness 6. Vigor Vault Gym 7. The Flex Fitness 8. PulsePoint Gymnasium 9. Swift Sweat Studio 10. Blaze Bodyworks 11. Impact by You 12. N-R-G Evolution Fitness 13. The Edge Fitness 14. Flare Fitness 15. Up & Up Health Club 16. Wave Fitness 17. Iron Intentions Gym 18. FlexFit Fusion Fitness 19. Vital Vortex Fitness Club 20. The Stronghold Gym 21. Triple Threat Fitness Studio 22. Optimal Outcome Gym 23. Vigorous Vitality Gymnasium 24. Blaze Bodyworks Fitness Center 25. Thrive Tribe Fitness Center 26. The Vanguard Gym 27. Flex Fusion Fitness Hub 28. Again Fitness Studio 29. Prodigy Peak Fitness Center 30. Elevate Energy Gym

31. PowerPulse Fitness Club 32. FlexCraft Fitness Center 33. Active Ascent Health Club 34. FitFusion Fitness Studio 35. Vitality Vibe Fitness Center 36. Wild Yonder Fitness Studio 37. Prodigy Power Fitness Club 38. Elevate Fitness Hub 39. Flex Fusion Gymnasium 40. The Fitness Spot 41. PulsePoint Fitness Club 42. Optimal Outcome Fitness Hub 43. MoveStrong Gymnasium 44. Sculpt Stronger Fitness Hub 45. Vigorous Vitality Fitness Club 46. Blaze Bodyworks Gymnasium 47. Core Spot Fitness 48. Infinity Impact Fitness Club 49. Inner Edge Gymnasium 50. FitFlare Fitness Hub 51. Radiant Routines Fitness Club 52. Flexfinity Fitness Spot 53. Loft by Iron Intentions 54. FlexFit Fusion Studio 55. Vital Vortex Fitness Spot 56. Stamina Stronghold Fitness Club 57. UpZone Fitness 58. Optimal Outcome Gymnasium 59. Vigorous Vitality Fitness Spot 60. CoreCrafters Fitness Club

Pro Tip: A fitness center name can end with hub , club , center , studio , or another appropriate noun.

Good fitness business names can leverage your sense of humor. Try some of these funny gym nicknames, and know that they don’t have to be the same as your LLC name since you can file a doing business as (DBA) form (more on this below).

1. Buff & Beyond 2. Dumbbells & Dragons 3. Leg Day Legends 4. Squat Squad 5. Cardio Queens 6. Pull-Up Posse 7. Barbell Bunch 8. Gym Junkies 9. Weightlifting Warriors 10. Muscle Mavericks

11. Fitness Freaks 12. Sweat Society 13. Gains Gang 14. Pumped-Up Posse 15. Work It Warriors 16. Body Beautiful Brigade 17. Fit Fam 18. Iron Empire 19. Shred Squad 20. Ripped Revolutionaries

Pro Tip: Just because your fitness and gym business takes staying healthy seriously doesn’t mean you should avoid having fun with your gym name. Get creative when choosing a brand name and look for ways to use wordplay.

Consider some of these gym names if you’re thinking about starting a fitness business that helps people in their homes.

1. FitNest Home Gym 2. Iron Haven Fitness 3. House of Gains 4. Your Performance Palace 5. HomeBody Fitness Center 6. Stronghold Home Gym 7. DIY Fitness Hub 8. FlexSpace Home Gym 9. Zenith Fitness Studio 10. The Homestead Gym

11. Personal Peak Fitness 12. Home Forge Fitness 13. Prime Home Fitness 14. FitQuarters 15. Muscle Manor 16. HomeBase Fitness 17. The Sweat Shed 18. PowerHouse Home Gym 19. FitFusion Home Gym 20. Homestead Health Hub

Pro Tip: Creative gym business name ideas in this category should let people know your fitness brand focuses on providing in-home training.

If you’re starting a CrossFit studio, you might want a fitness business name like one of the ideas below.

1. CrossFit Blaze 2. Phoenix CrossFit 3. CrossFit Titan 4. CrossFit Evolution 5. ThunderFit CrossFit 6. CrossFit Apex 7. Atlas CrossFit 8. CrossFit Vanguard 9. Zenith CrossFit 10. CrossFit Dynamo 11. Rampage CrossFit 12. CrossFit Forge 13. AlphaStrike CrossFit 14. CrossFit Surge 15. CrossFit Ascend

16. TitanForge CrossFit 17. CrossFit Triumph 18. CrossFit Resilience 19. Pinnacle CrossFit 20. CrossFit Vitality 21. Catalyst CrossFit 22. CrossFit Momentum 23. Radiant CrossFit 24. CrossFit Dominion 25. IronPulse CrossFit 26. CrossFit Kinetic 27. CrossFit Renegade 28. CrossFit Endeavor 29. CrossFit Valor 30. CrossFit Unleashed

Pro Tip: These gym names evoke a sense of strength, power, and determination, which is what CrossFit training is all about.

Keep reading for more gym business name ideas.

Maybe you don’t run a gym but run a fitness business vlogging and selling affiliate products. If so, you might want to try some of these fitness page names.

1. FitNation 2. Sweat Central 3. Body Blast 4. Cardio Crush 5. Muscle Mania 6. Strength Squad 7. Fitness Fanatics 8. Gym Junkie Diaries 9. Workout Warriors 10. Health & Wellness Hub 11. The Body Shop 12. Tone Zone 13. Sculpt Nation 14. Ripped Republic 15. Shred City

16. The Fitness Factory 17. Pump It Up 18. Burn & Build Fitness 19. Cardio Core Connection 20. The Transformation Zone 21. The Fitness Lab 22. Sculpt & Sweat 23. Iron Paradise 24. The Body Temple 25. The Fitness Sanctuary 26. The Wellness Haven 27. The Movement Studio 28. The Fitness Collective 29. The Training Grounds 30. The Sweat Society

Are you looking for cool gym clothing name ideas? Consider some of these brand names.

1. FlexWear 2. Athleisure Apparel 3. GymFlow Clothing 4. Activewear Athletics 5. Fitness Fashion 6. Sporty Style 7. Move & Groove Apparel 8. Wingman’s Best Fitness Brand 9. Train & Thrive Clothing 10. Performance Wear 11. Body Beautiful Apparel 12. Strong & Stylish Clothing 13. Fit & Fabulous Fashion 14. Activewear Addiction 15. Creative Juices Sweat Wear 16. Workout Wardrobe 17. Gym Glam

18. Fitness Fashionista 19. Athletic Apparel 20. Sporty Chic 21. Gym Style 22. Activewear Essentials 23. Workout Wear 24. Fitness Apparel 25. Athleisure Style 26. Gym Ready Clothing 27. Train in Style Apparel 28. Sporty & Stylish 29. Active & Chic 30. Gym Style Icon 31. Fitness, Fashion Forward 32. Fitness Gear Inc 33. Gym Hulk 34. Out of the Box Fitwear

Pro Tip: Did you know that 50% more people sign up for gym memberships in January than any other month? Plan your marketing—and potentially your launch—accordingly.

Once you’ve found gym names you like for your fitness business, you’ll need to claim the gym name. Whatever kind of gym business you’re starting, you’ll want to do the following:

• Conduct a business name search: Check with your state's business registration office to make sure your desired gym name is available. Then create a business structure using the gym name.
• File a DBA (Doing Business As) name: A DBA, also known as a fictitious business name, allows you to operate your gym under a name other than your legal name.
• Register your business with the IRS: You'll need to obtain an Employer Identification Number (EIN) from the IRS.
• Obtain the necessary licenses and permits: Contact your local government to find out what licenses and permits are required to operate a gym in your area.
• Protect your business name with a trademark: Filing a trademark with the U.S. Patent and Trademark Office gives you exclusive rights to your gym name.

Depending on where your gym business is located, you may have to get health permits, certifications, or business insurance when starting your fitness business. Talk with the local government to learn what a gym business in your area needs to comply with local regulations.

What gym name inspires you?

A good gym name can help your gym business stand out. You’ll want to make sure the name is available on social media, as a website, as a trademark, and as a business name. If it is, take your gym name and start making marketing materials for your gym business.

Which gym business name do you like?

How to Start an Etsy Shop (and Make $60K/Month)

Cash is not king. Creativity is. Have you ever wanted to start your own Etsy shop? Vlad Kuksenko started TagPup and in 18 months became the top pet product seller. You can do it, too!

We sat down with Vlad and learned how he loved art but earning a living as an artist wasn’t an option until graphic design became a major field. Today, he creates personalized dog collars, leashes, and bandanas that fill the number one pet products shop on Etsy.

[su_note note_color="#dbeafc"] We’ll share the tips and strategies he used to become number one in his category. (Click the links below to jump to the sections that interest you most.)

What is Etsy?

What to sell on etsy, what is the industry outlook, who are the major etsy sellers, write an etsy business plan, sign up or log in to etsy, open your shop, choose your shop preferences, name your shop, stock your shop, add clear photos, set your prices, choose your payment methods, establish shop policies, calculate shipping costs, promote your shop, fulfill orders promptly, provide excellent customer service, monitor your shop, consider etsy ads, stay compliant with etsy policies, reinvest in your business, where to buy materials and equipment for an etsy store, do i need a business license to sell on etsy, learn more about etsy businesses.

• Start your own Etsy shop [/su_note]

Get ready to become your own Etsy shop manager.

Etsy is an online marketplace where shop owners can sell products to Etsy’s 82 million buyers looking for handmade and vintage products. Etsy listings fall into eight major categories:

• Jewelry & Accessories
• Clothing & Shoes
• Home & Living
• Wedding & Party
• Toys & Entertainment
• Art & Collectibles
• Craft Supplies
• Seasonal Offerings (think Valentine’s Day, Veterans, Memorial, and Labor Days, 4th of July, Halloween, Thanksgiving, and Christmas)

Keep reading for things to sell on Etsy.

What to do before opening an Etsy shop

Before you sell items on Etsy, there are a few things you should do, including answering:

• Who are the major players on Etsy?
• What will my Etsy business plan be?

If you’re wondering what sells best on Etsy, check out the Etsy best sellers list . The best-performing segments according to Etsy’s 3rd Quarter 2021 Earnings Presentation are:

1. Homewares & Home Furnishings: $4.2 billion 2. Jewelry and Personal Accessories: $2.1 billion 3. Craft Supplies: $1.4 billion 4. Apparel: $1.4 billion 5. Paper & Party Supplies: $600 million 6. Beauty & Personal Care : $300 million

Many of these are vintage items, handmade goods, or personalized items that do particularly well with Etsy shoppers. Vintage items are classified as over 20 years old, while handmade means that each is unique.

Vlad spent a lot of time talking about the decision-making process of what to sell in an Etsy shop. He explained:

[su_quote]Etsy is a want-based business. If you can personalize it, you can sell it.[/su_quote]

He went on to explain:

[su_quote]You need a keyword to be able to sell it. If there is no keyword people are searching, you can’t sell it.[/su_quote]

He suggests using eRank to help with your search engine optimization (SEO). eRank has various tools to help small business owners come up with product ideas, optimize their listings, and track their shop page against the best Etsy shops.

Vlad described his product development process as:

• Research what has a high search volume using eRank.
• Input the term you are targeting into the Etsy search bar.
• Look for products with at least one review per day because that means they are selling at least 5 to 10 per day.
• What is frequently favorited?
• What do the favorited items have in common?
• Design your offerings based on this search.

Vlad gave two additional pieces of advice that small business owners should follow when wondering how to start an Etsy shop:

• “You need multiple products that work well together. Carrying a single product doesn’t do as well.”
• Be aware of seasonality. For instance, items like planners, weight loss tools, and wall hangings tend to do better at the beginning of the year.

Now that you understand how to decide what to sell on Etsy, you’ll want to know the differences between Etsy and other major players in the industry. Let’s take a look.

According to eMarketer , U.S. eCommerce sales are expected to grow by 10 to 15% per year and total over $1.6 trillion by 2025. Most of the earnings will be from top players like Amazon and Walmart.

Etsy had an industry-leading 107% increase in Gross Merchandise Sales, which means if you meet the requirements to start an Etsy shop, it is the place to be.

Now that you know where the industry is going, keep reading to learn how to start an Etsy shop.

Etsy doesn’t share each company’s revenue, but they share the number of transactions for each Etsy shop and the number of followers. Some of the most prominent players are:

• Planner Kate : An organization shop with 1.8 million transactions and 60K followers
• Bead Boat : Craft supply shop with 1.4 million transactions and 57K followers
• ModParty : A bridal shop with over 1.22 million transactions and 113K followers
• Peggy Sue Leather : Leather supply shop with almost 790K transactions and 25K followers

Pro Tip: See more top sellers on Practical eCommerce’s blog 20 Top Selling Shops on Etsy.

Etsy offers plenty of opportunities for shop owners to make a great living. Here are a few business owners that we’ve interviewed who run businesses similar to Etsy sellers:

• Urbanity : $102K per month in revenue selling clothes
• Check out our interview with Marcus .
• Blk Sunflower : $180K per year selling homemade candles.
• TagPup : The Etsy seller we’re featuring in this article. Check out our first of two videos with him below.

You don’t need a business plan for an Etsy shop, but it will be much easier to start an Etsy shop if you start by writing a business plan. A business plan is something we recommend for every new business.

Your Etsy business plan should include:

• Your business name, idea, and goals
• Market research
• Size of market
• Gaps in market
• Whether Etsy is the best place to reach your market
• Are there gaps between the money you have and the money you need? How will you solve them?
• Marketing goals and processes.
• The path to achieving your set goals

Check out our interview with Mike Andes on how to write a business plan.

We’ve gathered some templates and resources for you to make creating a business plan for an Etsy shop easier. Check them out below.

Etsy Business Plan Templates

We’ve gathered templates to help you develop your business plan. Here are some of the best:

• UpFlip business plan template
• One-page business plan
• U.S. Small Business Administration (SBA) Business Guide
• Get help writing a business plan.

EXCITING ANNOUNCEMENT: Stop guessing and gambling with your time and money on Etsy. Discover Vlad’s Secrets to building a $3.2M Etsy business. Start boosting your success and stop making costly mistakes with a 30% discount on his course.

How to start an Etsy shop

Starting an Etsy shop can be a great way to sell handmade, vintage, or unique items. Here are step-by-step instructions on how to get started:

• Consider Etsy advertising

Let’s start by opening getting an Etsy account.

If you don’t already have an Etsy account, you’ll need to create one. If you do, log in.

Click on “Sell on Etsy” in the top right corner of the Etsy homepage.

To create an Etsy shop, you’ll need to go to the Etsy official site and create an account. You can use Etsy sign-in through Google or Facebook to make it easy. After you have created an Etsy account, you’ll want to go to etsy.com/sell . Review everything and click “Open your Etsy Shop.”

It will take you to a “shop preferences” page that asks for your shop language, shop country, and shop currency. You can change these with the drop-down menu.

It also asks, “Which of these best describes you?” and gives the following options:

• Selling is my full-time job.
• I sell part-time but hope to sell full-time.
• I sell part-time, and that’s how I like it.

All the answers on the shop preferences page have default answers already added. If you wish to change the answers, do so, then click “Save and Continue.”

In this step, you’ll choose a unique shop name for your new Etsy shop. The shop name needs to meet the following guidelines:

• Shop Name Length: Include a maximum of 20 characters, only Roman letters and numbers, no spaces or punctuation.
• Shop Name Availability: Push “Check availability” to verify whether the name is available.
• Descriptive: Does it describe what you sell?
• Memorable: Is it easy to remember?
• Use our business name generator to verify the name is available as a domain.
• Search “[your location] business license search” to check availability in your location.
• Use uspto.gov to check trademark availability.

Once you’ve settled on a great name, enter it then click “Save and continue” to proceed to the next page, where you will create listings.

Want to hear more about Vlad’s TagPup success? Listen to his podcast episode below.

On this page, you’ll want to add all your listings. You’ll click the blue box that says “+ Add Listing,” which will take you to the “Add a new listing” page. This page is relatively long, so we’ve broken it into sections to make it easier to follow.

• Listing Details
• Inventory and Pricing
• Personalizations

What should I include in my Etsy listing details?

You’ll want to include the following information in the listing details:

• Example from one of my hoodies: “Unisex Shaded Hands Heart Hoodie- Artwork by Daisy Gray”
• Who made it? Me, member of my shop, or another company or person
• What is it? Finished product or supplies and tools
• When was it made? Made to order (use this for print-on-demand), Recent (choose dates between 2003 and today), Vintage (Pre-2003)
• Category: Search for and select your product type
• Sizes and Colors: Select the option that describes it best, or select “multiple” to create variations.
• There are a lot of attributes, and they change based on the category. Review them and select whatever fits best as they can help with search results.
• Optional for clothing: Sleeve length, closure, and clothing style
• Renewal: Auto or manual
• Type of Product: Physical or digital
• Read Etsy’s tips on product descriptions .
• Preview the description on Google straight from the listing page.

Vlad told us:

[su_quote]Read your competitors’ descriptions. Use graphics as opposed to descriptions when possible. For instance, take the dog collars and a ruler to show the different sizes.[/su_quote]

• Partner name
• Additional information
• Why you work with them, your role, and their role
• Tags: Keywords you want your product to show up for, maximum of 13 tags
• Materials: Type of raw materials. For instance, cotton and polyester.

The tags are the key to getting your shop name in front of your target audience. Don’t forget to use eRank to help with the tag selection.

We asked Vlad, “What Etsy tags should I use?”

[su_quote] When creating tags, think about ‘Where should I show this product?’

If you’re creating t-shirts, you don’t need the word ‘t-shirt’ in each one. Just include it in the first three, and use other tags that will put it in front of other people. [/su_quote]

To do this section right, expect to spend an hour per product or more.

Example of tags

Given Vlad’s suggestion, you may want to use the following tags if you have a Taylor Swift shirt (which is one of the trending topics for t-shirts this year):

• Taylor Swift tour shirt
• Taylor Swift Eras shirt
• Eras tour shirt
• Taylor Swift tour
• Taylor Swift Eras
• Taylor Swift outfit
• Taylor Swift merch
• Red Taylor Swift
• Lover shirt
• 1989 Taylor Swift

How to set up an Etsy shop video

Etsy recommends creating a product video. They give you instructions on how to take listing videos in the Etsy Seller Handbook. If you add product videos, they should meet the following qualifications:

• 1080p or higher resolution
• 5-15 seconds long
• Less than 100 MB file size
• 30 frames per second
• Don’t edit the video before loading it into Etsy. (If you edit the video from standard video sizing to a 1:1 height-to-width ratio, you may have issues uploading from an iPhone.)

You can make a video with a 1:1 ratio after adding the video to Etsy by using the editing tools on their site.

Now that you know how to add a video to your Etsy listing page, let’s look at the other information covered in Etsy listing details.

High-quality images are crucial to start selling. Take well-lit, clear photos that accurately represent your items.

Etsy allows you to add up to ten photos on the website. Want some tips on how to create great product images? Check out the list below.

• Use natural light and no flash. Late afternoon is the best time to photograph.
• Include a common object for scale, or use a ruler if needed.
• Show the item being held, worn, or used.
• Shoot against a clean, simple background. Most platforms require white backgrounds for the primary photo, so it’s best to have at least one that shows the image on a pure white background because you’ll probably sell on other platforms too.
• Add photos of your variations so buyers can see all their options.
• Set the pixels per inch to 72 and 2000 x 2000 pixels.
• Verify that the combined photo image sizing is no larger than 1 MB total. Otherwise, it slows pages on mobile devices not connected to WiFi.

After you add photos, remember to edit the meta description to help with search engines by hovering over the image and clicking on the pencil. You can also crop or delete the image in the hover menu. If you click and hold onto an image, you can change its placement.

Consider the cost of materials, time, and any fees when setting your prices. Be competitive but also make sure you’ll make a profit. The pricing should be high enough to cover the following:

• The cost of the goods
• Etsy’s $.20 listing fee
• Etsy transaction fees of 5% of the product price plus shipping price
• The Etsy payment processing fee of 3% + $.25 in the U.S. (varies by country)
• Etsy’s 15% off-site marketing fee, which is charged every time Etsy randomly places your product in an off-site ad that results in a purchase
• Cost of shipping labels ($6.99 at the time of writing; learn more about shipping labels in Etsy’s Seller Handbook)
• Any other costs associated with your Etsy shop

How to start an Etsy shop with no money

You can open an Etsy shop without money, but the Etsy platform requires a $.20 per item listing fee that you’ll have to pay when the product sells. If your items are not made-to-order, Etsy shop owners can get started for free. This is especially true if you can start selling vintage goods you already own as you won’t have to buy new materials.

Now that you know how to start an Etsy shop, let’s look at Etsy payments.

Set up your preferred payment method. Etsy Payments is a commonly used option that allows buyers to pay for a physical or digital product assuming your payment account settings allow each of the options as Etsy payments :

• Credit cards
• Debit/bank cards
• Etsy Gift Cards and Etsy Credits
• Klarna Financing (U.S. only)
• Klarna installment payments (Australia, Canada, Spain, UK, U.S.)

Define your shop policies regarding shipping, returns, and exchanges. This helps set clear expectations for your customers. You’ll have to follow Etsy’s policies, but as a shop owner, you can also define your own about subjects like returns, exchanges, and cancellations. Printify goes into more detail about Etsy store policies .

Etsy offers a free shipping option, and I highly recommend using it. While Vlad didn’t specifically mention offering free shipping, he offers it on many of his products, and considering how much we love free shipping, we assume that’s part of TagPup’s success! He made some comments that suggest including the shipping in the price of the goods:

[su_quote]Be very clear in what they are buying to get better reviews.[/su_quote]

[su_quote] Don’t trick people.[/su_quote]

Additional shipping charges can be tricky at times, so I (the author) suggest using the free shipping feature. It is straightforward; they’ll ask you a couple of questions, including:

• Origin zip code: Where it’s mailed from • Processing time: How long it takes from when the customer orders until when it ships • Where I’ll ship: Continents or specific countries • Shipping services: Your offerings for shipping • Free shipping: Domestic or international (I would discourage offering free international shipping unless you are well-versed in shipping and pricing costs)

Then you’ll have an option to add shipping to the price of the product. Review Etsy pricing strategies to include free shipping and learn how to include the pricing in the product cost.

In addition to specifying shipping options, remember to establish and post a very clear return policy that details:

• When you accept returns (standardized product, within 90 days, not-made-to-order, manufacturer error)
• When you will not accept returns (damaged after shipping, custom made, after 90 days)
• Time frame to return the product
• Who pays for return shipping

Marketing is the trick to growing any business. You have to get your business and products in front of people to sell them. Fortunately, Etsy makes it pretty easy for a small business to sell on its marketplace.

If you don’t have much experience with marketing, it starts with market research . Mike Andes goes into great detail about market research, including identifying potential customers, target markets, and demographics. Check out our interview with him below:

Vlad had a lot of input on how to sell on Etsy. He emphasized the importance of product design:

[su_quote]Art ought to communicate to [potential customers]. If it doesn’t communicate, it’s not art and won’t sell.[/su_quote]

He also told us you should “price your products based on the middle of the pack” because Etsy customers aren’t looking for items they need but that they want. They will go for the one that meets their desires the best.

He also shared this advice:

[su_quote] Don’t race to the bottom and satisfy the keyword.[/su_quote]

His strategies for becoming one of the best Etsy shops for pet products are also used by retail giants, and you can leverage them, too. As you start marketing your Etsy shop:

• Vlad told us: Underbid, rank, then raise the price.
• Use Etsy promotional pricing.
• Utilize Etsy free shipping: Everyone loves something free. With the success of Amazon Prime, online shoppers expect every online marketplace to offer free shipping.
• Gather data and improve: While underbidding, he’s able to gather data.

He told us:

[su_quote] I’ll take a loss to gather data and improve my knowledge about whether it performs, then introduce new keywords.[/su_quote]

Vlad also suggested:

[su_quote]Use the sales and coupons. I’ll set the product to the original price, then discount it heavily. I also match products together to create packages people love. Always create sales for holidays.[/su_quote]

He also said that he throws in a small gift for repeat customers occasionally, but he doesn’t do it all the time.

For more on TagPup’s winning formula, watch our second video with Vlad here.

Helpful marketing tools

There are some useful marketing tools that small business owners use to market their companies:

• Canva: Simplify graphic design with Canva . Get access to thousands of templates for websites and social media for as low as $4.99 per month.
• SurferSEO: Write blog content faster and rank higher on search engines with SurferSEO .
• MailChimp: Email and SMS marketing automation is one of the keys to success that many small business owners mention. Get started with Mailchimp .

Ship orders as soon as possible after they’re placed. This will help you provide excellent customer service. You can use Etsy shipping labels to save up to 30% on your shipping cost. Learn more about shipping label fees on Etsy .

You can also provide tracking information by using Etsy tracking labels or providing the tracking codes to the customer by other means. You’ll need to check Etsy and your preferred shipping provider to figure out the best way to handle shipping.

Respond to customer inquiries and concerns in a timely and friendly manner. The service you provide both before and after a purchase will impact customer satisfaction, whether they return to your shop, and whether they review and suggest your shop to other people.

According to inc.com , it takes 40 positive reviews to fix the damage done by a single negative review. When someone is upset, take the time to solve their problem politely. Vlad told us:

[su_quote] I work with customers on returns as long as they are less than 90 days. After that, we don’t. I just try to make them happy. [/su_quote]

The process I (the author) have found works wonders for dealing with unsatisfied customers is:

• Apologize for the inconvenience they are experiencing.
• Ask what you can do to fix it.
• Listen to their answer.
• Gather information about whether it was your error or theirs.
• Do exactly what they asked unless it is unachievable.

This can be a challenge because it may result in a single order resulting in a loss, but it’s far less costly than a bad review.

Vlad discusses his workflow at the 35-minute mark of UpFlip podcast episode 10. If you haven’t already listened to it, check it out now.

[su_quote] Review your store and each item for week-over-week growth. If that section of the pie doesn’t grow, stop. If the reviews for it aren’t good, consider discontinuing the product. [/su_quote]

Etsy has a built-in ad feature where you can specify your daily ad spend limit, and they promote your products accordingly. The Etsy Seller Handbook answers how Etsy Ads work in more detail, but you basically create a budget of between $1 and $1,000 a day.

[su_quote] I typically spend between $300 and $1,000 per day on ads. Etsy really creates a level playing field, so going higher doesn’t mean it all gets spent. [/su_quote]

He went on to tell us the best way to use ads is to utilize keyword research.

[su_quote] Find the most creative way to make the ad as quick as possible to make it where the ad budget goes as far as possible. [/su_quote]

Familiarize yourself with Etsy’s policies to ensure you’re abiding by their rules and regulations.

You’ll want to reinvest in your business to help it grow and get more customers. Vlad told us:

[su_quote] Margins are 50-60% if you don’t reinvest in the business, but we tend to reinvest in machinery. [/su_quote]

In addition to adding machinery, you can create new products or increase marketing to expand your business. Once you earn more income consider opening a retail location or hiring more employees to help.

Selling on Etsy FAQ

You can purchase materials from a variety of places. Some of the places to buy when you first start are:

• A brick-and-mortar store: JOANN Fabric and Michaels are two that offer lots of selections for craft businesses.
• Etsy Craft Supplies : Find craft supplies you know are selling well on Etsy.
• Amazon : Craft supplies and tools can come directly to your home from the number one online retailer.
• Alibaba: Get bulk orders from overseas (allow weeks to months for shipping).

If you’re looking for equipment, Amazon and Alibaba might have it, but you can also check places like:

• Global Industry
• Northern Tool

[su_quote] You can spend 200 bucks at JOANN and customize mugs with vinyl. The materials and equipment costs depend on what you’re making and what machines you need. [/su_quote]

He also told us:

[su_quote] Inventory is such a big issue. Sometimes I spend $5,000 on shipping to get $10,000 of product. One of the ways to fix that is to pay half up front and half on delivery. [/su_quote]

Etsy does not require a business license to start listing physical or digital product, but the government might if you make more than $600 from your Etsy shop. In addition, a business bank account, reseller’s license, and business credit card will all require a business license.

Each city, state, and country have different licenses, permits, and tax forms required. Refer to the SBA License and Permits page to identify what your Etsy shop needs.

Vlad suggested reading the book E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It . You can get it through our Amazon shop .

• Check out Vlad’s YouTube, TalkShop .
• Save 30% on Vlad’s course .
• Etsy Success
• Nancy Badillo , a highly successful Etsy seller, has almost as many followers as Etsy’s channels combined.

Start your own Etsy shop

We’ve explained the market outlook for eCommerce, how to start an Etsy shop, licensing requirements in case you want to make your shop a formal business, and marketing strategies to improve your business results.

If you’d like to consider other business ideas, check out our blog about the 30 best businesses to start for under $10,000.

Etsy can be an extremely satisfying way to earn a living. What kind of products are you thinking about listing on Etsy?

Best Client Management Software (2024)

You know you need a great client management system to keep track of customer data and ensure you build sustainable customer relationships. But which one is best?

Many small business owners optimize their operations for their own benefit and forget to prioritize their customers' needs, which can result in frustration and lost revenue. The point of your business is to solve customers’ problems while making money, and in the digital age, the right CMS is essential.

[su_note note_color="#dbeafc"]

In this article, we compare the best client management software to help you choose which option is right for your sales process. Click on the links below to jump straight to a section.

What is client management?

Client management systems: key features, #1. housecall pro (author’s pick), #2. jobber (recommended by most videos), #3. clickup (upflip blog and youtube crm), #4. freeagent (most features in entry-level plan), #5. hubspot crm, #6. honeybook, #8. monday.com, #9. zendesk sell, #10. pipedrive, #11. zoho crm, #13. activecampaign, #14. lucrativ, #15. airtable, #16. insightly, #17. salesforce, #18. freshworks crm (formerly freshsales), #19. netsuite, #20. nutshell, #21. capsule.

• Welcome to a better sales process [/su_note]

Client management fosters relationships between a business and its customers by keeping detailed records of customer interactions and customer engagement. Customer management includes:

• Customer lifecycle planning
• Set expectations
• Build trust
• Define boundaries
• Evaluate customer satisfaction

The ultimate goal of client management is for your small business to delight its customers. Achieving this goal will lead to increased retention rates and referrals.

Keep reading to learn about customer management systems.

What is a client management system?

A client management system can also be called a customer relationship management (CRM) system. These specialized software applications monitor and manage individual relationships between small businesses and their customers.

Sales, marketing, and support teams frequently rely on data within the client management system (CMS) to initiate and cultivate customer connections, fostering loyalty and transforming potential and existing customers into devoted clients.

CRMs are comprehensive systems capable of generating valuable information that can benefit every department in your small business. A CRM should have specific features to track and measure customer interactions with your company.

A CRM should track and help make better decisions by providing your staff with information about support requests, email responses, and previous purchases. This data helps predict customer needs, cross-sell, and personalize the entire sales process.

Key features of an effective CRM include:

• Activity tracking: Collect customer data to gain insights about how often clients request support, make purchases, or return items. This helps you predict potential issues and prevent them.
• Data and analytics: Monitor metrics for each customer, including their engagement frequency with your communications. When compared to the rest of your customer data, these metrics will show who are ideal clients and who costs your company money.
• Automated workflows: Automating workflows simplifies the client management process. Workflow automation is crucial to nurturing customer relationships. Marketing automation can be used to respond to leads, send outreach, and schedule meetings without consuming your sales team’s time.
• Communication system: Utilize templates and automated messaging to communicate with customers via email, calls, texts, or direct social media messages.

Next, we’ll discuss the best client management tools to manage customer relationships.

Best client management software

The best client management software will be different for every company. Small businesses will need to consider which features are most important to them. We have ranked the following customer relationship management tools to help you find the right client management software for you.

• Housecall Pro
• HubSpot CRM
• Zendesk Sell
• ActiveCampaign
• Freshworks CRM (formerly Freshsales)

Get ready to start choosing client management software.

I personally rate Housecall Pro as the best client management software today. It’s one of the more comprehensive business management software solutions with a starting price of $69 monthly. You get almost all of what you need to run most businesses when you invest in the $169 per month plan.

In addition to client management tools, you also get third-party financing, payment processing, online booking, GPS and time tracking, and more. When it comes to managing your business, you can’t go wrong with Housecall Pro.

Price: $19+

Jobber is similar to Housecall Pro but has a lower-cost entry point. It’s also not as intuitive. If you want to spend less than $169, Jobber has three plans to fit your client management software budget. Note that only the Connect and Grow plans allow more than one user without paying extra.

Price: Free+

We use ClickUp at UpFlip. This client management software is highly productive but can be somewhat complex for new users.

With ClickUp’s robust and customizable features, you have access to more than 15 distinct ways to visualize sales and client orders, including list, calendar, table, and Kanban-like board views for all data types.

Additionally, ClickUp’s Dashboards offer real-time reporting, allowing you to gain high-level insights into your customer’s lifetime values, ensuring you never miss a sale.

ClickUp’s integration with over 1,000 other work tools, including email, facilitates fast and streamlined customer outreach.

Onboard clients, update tasks, and send messages, all from a centralized work hub.

With ClickUp’s Free Forever plan, you can build your customer database and access many functional features. For even more advanced tools, you can easily upgrade for as little as $5.

The next client management software solution sounds awesome for people who want client management software that works well with social media platforms.

Price: $45+

FreeAgent brands itself as a next-gen CRM with some of the most offerings in its lowest-level plan. You’ll get:

• AI-guided tasks • Reporting • Sales tracking • A whole lot more!

For $90 per user, you get additional features like meeting scheduling and SMS marketing tools that suggest it might be worth the cost to upgrade.

FreeFlow, an AI-guided productivity tool offered by FreeAgent, helps reps increase their productivity by suggesting which tasks to perform first. This reduces admin work. Companies have seen over 200% gains in productivity using this tool.

The AI tool automatically organizes and logs calls, emails, and meetings. Plus, suggesting priorities helps reps with building customer relationships and driving more revenue.

HubSpot CRM platform is the best client management tool on the market, but it’s complex and costly. While it is fairly complicated to get started, the CRM tool is one of the best when it comes to educating people on sales and marketing.

It features a free CRM that integrates with email to simplify client tracking. It also has hubs for the following categories:

1. Marketing 2. Sales 3. Customer service 4. Content management 5. Operations 6. Plus 50 free tools

HubSpot CRM supports unlimited users and data and up to a million contacts. That means HubSpot CRM will grow with your business. The two aspects I like most about this client management tool are the learning academy and the ability to upgrade as you grow.

This software is best if you are running marketing campaigns with a sales funnel. For two people to engage in the sales and marketing efforts is $50. Each additional person is $25-$50 depending on what they need to access in the CRM system.

We use Hubspot to manage our courses and I personally suggest every business owner take their free digital marketing certifications.

HoneyBook client management software lets you manage invoices, contracts, payments, and client communications. HoneyBook works best for entrepreneurs and small business owners who work on short-term projects.

The customer journey is simple and will delight your clients from the moment they interact with the client management software till you complete the project.

Start by sending branded proposals to potential clients and streamline the booking process with the user-friendly scheduling tool. Then close the deal with the contract and digital signature.

Use HoneyBook automation for customer communications as you complete milestones in the project. Spend more time working on the job and less time keeping customers updated.

With pricing from $19 to $79, the only thing this client management tool is missing is the employee side of managing your business. (That’s not technically part of client tracking software, but it’s important to you!)

Price: $24+

Some client management software goes beyond relying on a client management software system. The Nimble Prospector browser extension collects lead data from social media.

Capture a prospective lead’s contact information by hovering over a LinkedIn or Instagram profile, and Nimble gathers the potential customer data, cutting data entry time in half.

Additionally, Nimble offers seamless integration with over 160 apps, including X (formerly Twitter), Facebook, and LinkedIn, allowing your team to consolidate client contact data from familiar platforms with ease.

Nimble’s calendar, activities tracker, and pipeline manager empower your team to make the most of every opportunity to engage with prospects and existing clients.

monday.com was originally a team management solution, connecting employees with workflow automation. Over time, its application expanded, and it now has offerings for most industries to track, organize, and manage production and performance.

When you sign up for monday.com, you can choose from templates for your industry and needs. For sales teams, three templates are particularly useful: sales CRM, partner management, and sales assets.

The sales CRM template is a highly valuable tool for sales teams because it efficiently manages leads, customer relationships, sales pipelines, and tasks in a single platform.

monday.com’s lead management helps you create customized forms directly on monday.com and embed them on your website. Submissions from the forms go directly to your monday.com board, allowing the tool to save all contact data and activity, including calls, emails, and meetings.

The sales CRM template also offers a Kanban view, which is commonly used for managing software projects efficiently. This view provides a quick overview of the number of prospects and their respective stages, enabling you to monitor progress effortlessly.

The sales CRM template effectively organizes deadlines, helping you stay on top of tasks that need completion each day and propelling you closer to closing deals.

Pro Tip: Check out our monday.com review for more information about this popular customer relationship management system.

Price: $25+

ZenDesk Sell is effectively a support desk that has been modified to include sales teams. This makes it easier to manage client relationships.

Like many other client management software options, ZenDesk only offers workflow automation in its highest-level plan. Personally, I wish more client relationship management software offered automation at all price points because it improves the client data and workflows of those in the earliest stages of starting a business.

Price: $21.90+

Pipedrive CRM software uses features such as pipeline management, chatbots, web forms, and AI sales assistance.

The AI-powered sales team assist tool makes this CRM system stand out. It provides personalized tips and automation recommendations to your sales team.

The AI sales mentor identifies potential risks based on past performance and suggests new strategies for improving results. This enables your reps to enhance their skills without extensive training and consulting.

Furthermore, the AI sales mentor employs advanced algorithms to assess your actions and identify areas where you can automate your sales cycle, streamlining your sales processes for increased sales team efficiency.

Zoho CRM offers sales automation, predictive sales, sales management, and multichannel communication.

One of the standout capabilities of Zoho CRM is its robust multichannel communication feature. This empowers sales representatives to connect with customers across various platforms and channels, ensuring effective and convenient communication.

For instance, reps can reach out to prospects through channels such as telephone, email, live chat, social media, and web forms. Moreover, the multichannel tool enables reps to analyze the effectiveness of their communication efforts, identifying the best time and channel to engage with prospects.

Zoho CRM integrates with numerous business applications, including Google Suite, Ring Central, WhatsApp, Eventbrite, Quickbooks, Proposify, LinkedIn Sales Navigator, MailChimp, Facebook, Slack, Dropbox, and SalesIQ. These integrations enable smooth communication with prospects via email, phone, social media, and live chat.

They also have a unique client relationship management software called Bigin . Bigin starts as a free client management software for solopreneurs, and its annual pricing is no more than many other options’ monthly fees.

Drip is an eCommerce client management app. You’ll appreciate features like:

• Contact management • Email marketing • Multichannel touchpoints • Personalization

The best feature is Drip’s advanced segmentation tool, which allows you to add tags and labels to any contact. You can even personalize and customize your own tags. For example, you can add an inactive customer tag to people who haven’t interacted with your site recently.

Additionally, you can use tags to filter prospects who have purchased a product before, track the amount of money they’ve spent, and see if they’ve been active on your site in the last month. These prospect tracking features provide customer insights into what your prospects are looking for, opening, clicking on, and buying.

Ultimately, this customer tracking software can help you personalize messages to your prospects.

ActiveCampaign offers businesses a suite of email, automation, and CRM solutions tailored to streamline client relationship management. Within its CRM platform, users get features like contact management, lead scoring, marketing and sales automation, win probability, sales reporting, segmentation, and win probability.

The standout capability of this client management app lies in its lead scoring tool, a valuable means of monitoring which prospective customers your client service management efforts should focus on.

This feature of the client relationship management software answers questions like:

• Did a potential customer visit your pricing page? • Has the customer opened an email? • Was a form submitted? • Has the customer scheduled a meeting?

Lead scoring tracks these engagements, allowing you to identify the clients who are most invested in finding a provider.

The tool also assigns lead scores to deals and individual contacts. Monitoring a prospect’s lead score helps you focus on the customers most likely to convert.

Finally, lead scores can be used as a trigger to start a new sales funnel with special offers and other information to close the deal and go to the next step in the buyer’s journey. This powerful feature significantly boosts efficiency and drives better outcomes for your sales and marketing efforts.

Price: Contact Lucrativ

Lucrativ is a customer management system that focuses on real estate. Features include:

• AI-powered sales assistant • Automation • Gamification • Insights • Multichannel engagement • Pipeline management

The gamification feature uses friendly competition to increase sales.

The customizable competition can include goals like prospects found, demos shown, and deals closed. The client system even has a leaderboard to track rep performance and display real-time ratings to motivate your entire sales team.

The gaming aspect of this client-getting software will motivate teams that manage multiple projects. Unlike many CRM platforms, this account management software doesn’t disclose pricing, which I normally read as: “Get ready for a high-pressure pitch and shady pricing schemes.”

Airtable starts as a free client management software that will support up to 5 users. It’s similar to monday.com, but spreadsheet users may appreciate how it strikes a balance between a spreadsheet and a database. Like monday.com, Airtable offers industry-specific tables designed for sales teams, including sales CRM, sales pipeline, and sales assets.

The sales CRM template provides a single location for real-time access to manage your contacts. In addition, each sales representative can personalize their view to remove distractions in the client-getting system. This flexibility makes Airtable one of the best account management software solutions available.

The calendar view makes it easy to review past meetings, follow up, and prepare for upcoming appointments. Meanwhile, the Kanban view displays the status of the software client for reps.

The Airtable sales CRM effectively organizes your team and simplifies closing deals.

Price: $29+

Insightly focuses on marketing automation, sales CRM, integrations, and service desks. The CRM software has features like lead routing, relationship linking, and workflow automation.

Lead routing and relationship linking help sales reps follow up on hot leads faster. You can have the leads automatically go to an available sales rep based on activities like emails, interacting with a marketing campaign, or receiving a phone call.

Larger organizations may find the relationship-linking tool helpful for mapping complex customer relationships. When customers communicate with multiple people in the organization, the buyer’s journey is easier to analyze with Insightly than most other apps for client management. Get a better view of the entire sales pipeline.

This popular client management software is an industry leader in the CRM market. It is complex to use, though. As far as CRM software goes, I would discourage anyone from using it unless they go through the Trailhead training . Depending on what type of business you run, you may be able to market yourself as a provider afterward.

Features like contact management, email integration, lead management, opportunity management, and sales forecasting make this some of the best client management software for small and medium-sized businesses (SMBs) that are approaching major corporation status.

Salesforce sales forecasting software provides a real-time view of the forecast of all your sales reps. You can set permissions for management to make in-line forecast adjustments or override information based on the management hierarchy.

For example, you can see the entire pipeline for your business, organized by sales rep, so you see who your top performers are. By tracking and forecasting your sales, you can set realistic goals and solve problems before they impact your revenue. Ultimately, tools like sales forecasting help management make decisions.

Price: $12+

Freshworks CRM offers service department, marketing, chatbot, and sales client management software with features like:

• AI-powered insights • Built-in phone and email • Lead scoring • Pipeline management

You can buy local and toll-free numbers directly through the Freshworks CRM then assign them to reps to contact potential clients without integrating with other systems.

Plus, all communication is automatically logged because the interactions happen directly in the Freshworks CRM. Eliminate manual data entry forever.

Price: Contact NetSuite

NetSuite offers a CRM for everything from accounting client management software to compliance, human resources, and inventory. If you’re planning a startup business that you expect will make millions or billions, you might want to go with the SuiteSuccess Starter Edition .

Features include:

• Commissions • Order management • Quote delivery • Sales automation • Sales forecasting

Quote delivery and order management are the most impressive features. You’ll be able to streamline the lead-to-cash process directly in the CRM. Get ready for higher sales and better productivity.

Nutshell CRM provides a comprehensive range of tools, including contact management, pipeline management, sales automation, reporting, and email tools. Among these features, the pipeline management tool stands out for its flexibility and efficiency.

Nutshell offers various pipeline management views to cater to your sales reps’ preferences and workflows.

The Board View allows reps to easily drag and drop leads to different sales stages and mark them as won, lost, or canceled. This view provides a quick and comprehensive overview of the pipeline’s health.

Next, List View offers a more traditional approach, displaying leads in rows and allowing sorting based on stage, value, and opportunity. This helps reps analyze upcoming tasks and prioritize their attention accordingly.

For sales reps working with territories, map view is especially useful as it shows the exact location of prospects. This assists reps in planning meetings and activities efficiently.

Finally, the chart view provides valuable insights into lead trends by displaying data on the time frame, quantity, and value of open leads.

Price: $18+

Capsule CRM offers contact management, a sales pipeline, and task management.

Capsule stands out for its customization features, including custom fields for business records, custom tags, custom sales milestones, and customized contact lists based on the selected filters.

These features can be used to include information about partner programs, like who brought the partner on and the date of introduction. This can make it easier to identify high-performing employees and seek ways to duplicate their results.

Welcome to a better sales process

Another noteworthy client management system is Microsoft Dynamics 365 , but it is not small business-friendly given its minimum investment of $1,500 .

Whatever client management software you choose, make sure to consider the features and the costs. While some charge per use, others charge the same amount for up to 15 users.

You’ll also want to consider the costs of additional software you need to manage your whole business. That’s why we ranked jobs like Housecall Pro, Jobber, and FreeAgent so high.

What CRMs have you used? What did you like or dislike about each?

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Manufacturing Business Plan PDF Example

• May 7, 2024
• Business Plan

Creating a comprehensive business plan is crucial for launching and running a successful manufacturing business. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your manufacturing business’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a manufacturing business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the manufacturing industry, this guide, complete with a business plan example, lays the groundwork for turning your manufacturing business concept into reality. Let’s dive in!

Our manufacturing business plan covers all essential aspects necessary for a comprehensive strategy. It details operations, marketing strategy , market environment, competitors, management team, and financial forecasts.

• Executive Summary : Provides an overview of the manufacturing company’s business concept, market analysis , management, and financial strategy.
• Facilities & Equipment: Describes the facility’s capabilities, machinery, and technological advancements.
• Operations & Supply: Outlines the production processes, supply chain logistics, and inventory management.
• Key Stats: Offers data on industry size , growth trends, and market positioning.
• Key Trends: Highlights significant trends impacting the industry, such as automation and localization.
• Key Competitors : Analyzes primary competitors and differentiates the company from these rivals.
• SWOT: Analyzes strengths, weaknesses, opportunities, and threats.
• Marketing Plan : Outlines tactics for attracting new contracts and maintaining client relationships.
• Timeline : Sets out key milestones from inception through the first year of operations.
• Management: Information on the management team and their roles within the company.
• Financial Plan: Projects the company’s financial performance over the next five years, detailing revenue, profits, and anticipated expenses.

Manufacturing Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

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Executive Summary

The Executive Summary introduces your manufacturing business plan, offering a concise overview of your manufacturing facility and its products. It should detail your market positioning, the range of products manufactured, the production process, its location, size, and an outline of day-to-day operations.

This section should also explore how your manufacturing business will integrate into the local and broader markets, including the number of direct competitors within the area, identifying who they are, along with your business’s unique selling points that differentiate it from these competitors.

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the business’s success. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your business’s financial plan.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Dive deeper into Executive Summary

Business Overview

Facilities & equipment.

Describe your manufacturing facility. Highlight its design, capacity, and technology. Mention the location, emphasizing accessibility to transport routes. Discuss advantages for efficiency and cost management. Detail essential equipment and its capabilities.

Operations & Supply Chain

Detail product range. Outline your operations strategy for efficiency and scalability. Discuss supply chain management. Highlight sourcing of materials, inventory control, and logistics. Emphasize strong partnerships with suppliers and distributors.

Make sure to cover here _ Facilities & Equipment _ Operations & Supplies

Market Overview

Industry size & growth.

Start by examining the size of the manufacturing industry relevant to your products and its growth potential. This analysis is crucial for understanding the market’s scope and identifying expansion opportunities.

Key Market Trends

Proceed to discuss recent market trends , such as the increasing demand for sustainable manufacturing processes, automation, and advanced materials. For example, highlight the demand for products that utilize eco-friendly materials or energy-efficient production techniques, alongside the rising popularity of smart manufacturing.

Key Competitors

Then, consider the competitive landscape, which includes a range of manufacturers from large-scale enterprises to niche firms. For example, emphasize what makes your business distinctive, whether it’s through advanced technology, superior product quality, or specialization in certain manufacturing niches. This section will help articulate the demand for your products, the competitive environment, and how your business is positioned to thrive within this dynamic market.

Make sure to cover here _ Industry size & growth _ Key competitors _ Key market trends

Dive deeper into Key competitors

First, conduct a SWOT analysis for your manufacturing business. Highlight Strengths such as advanced production technology and a skilled workforce. Address Weaknesses, including potential supply chain vulnerabilities or high production costs. Identify Opportunities like emerging markets for your products or potential for innovation in production processes. Consider Threats such as global competition or economic downturns that may impact demand for your products.

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain customers through targeted advertising, trade shows, digital marketing, and strategic partnerships. Emphasize the importance of showcasing product quality and technological advantages to differentiate your business in the market.

Finally, create a detailed timeline that outlines critical milestones for your manufacturing business’s launch, marketing initiatives, customer acquisition, and expansion goals. Ensure the business progresses with clear direction and purpose, setting specific dates for achieving key operational and sales targets.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the manufacturing business’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the manufacturing business toward its financial and operational goals.

For your manufacturing business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your manufacturing business’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your manufacturing business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

Privacy Overview

15 Best Examples of Professional Goals [+Tips to Achieve Them]

Published: May 01, 2024

“So, where do you see yourself five years from now?” Oof, that can be a tricky interview question, especially if you’re unsure of your professional goals.

When I graduated from college and started interviewing in my chosen field, I felt like I needed to plan my entire professional life, complete with one concrete end goal.

To be honest, it was overwhelming. I desperately needed actionable advice to plan steps to reach my professional goals.

In this post, we’ll define professional goals, provide examples, and give you tips so you can plan, meet, and exceed the goals you set for yourself.

What are professional goals?

Professional Goals Examples

Tips for Achieving Professional Goals

Work Towards Your Professional Goals

What Are Professional Goals?

Professional goals are achievements or milestones you hope to achieve in your career. These include personal and professional development, skill development, salary increases, career advancement, and switches.

Professional goals are often personal, but they don’t have to be. You can set professional goals for yourself and your team to help improve your organization and elevate it to the next level.

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What makes a good professional goal?

What separates a professional goal from a wish is that professional goals are attainable and achievable when designed with the appropriate framework.

It’s important to point out that you might have one overarching professional goal, like “become professionally bilingual.”

However, under your overarching goal, you might have smaller, more manageable goals with a specific, actionable framework attached to them to help you reach your biggest goal.

The SMART goal framework is the perfect framework to apply to reach your big and small goals. The letters of SMART stand for:

Let’s examine each letter so that you understand how to structure your goals for maximum achievement.

When writing your own professional goals, you need to be specific. For example, if you want to become bilingual to position yourself ahead of your competition in the job market, you need to be specific about the language you’ll need to learn.

There are over 2,000 languages worldwide, but only one or two will be relevant to your job market. Take some time to research your field before choosing your second language.

In other words, you need to ensure your smaller goal is specific enough to help you reach your overarching goal.

If your goal is measurable, you can easily track your progress. You can make your goals measurable by including a number. For example, if your goal is to learn Spanish, a more measurable goal would be, “Learn five new Spanish vocabulary words.”

The difference between “Learn five new Spanish vocabulary words” and “Learn Spanish” is that you now have something to work on. Making your goals measurable can help break down the task, too.

If your goals aren’t attainable, there’s a good chance they’ll fall into the “wishes” category. By adjusting your goals to your ability, you have something to work towards.

Once you reach your initial goal, you can change your objectives for continued improvement.

Attainable goals are helpful because they help you see how far you’ve come from your baseline. Small wins are encouraging and can help you push through to the end.

The trick to the SMART goal framework is to keep your objectives relevant. For example, if I wanted to learn Spanish as a global sales rep, I would need to focus on learning vocabulary specific to my job.

While watching Spanish comedians might be a great way to learn new slang, it won’t help me communicate effectively and professionally with my clients.

Before setting your goals, ask yourself, “Will this goal help me reach my desired objective?” If the answer is yes, make sure it’s specific enough, measurable, and attainable. If the answer is no, this might be a goal you set aside and pick back up later.

Putting a time frame on your goal helps you increase your motivation and stay accountable for your progress. Plus, when your goals are specific, measurable, attainable, and relevant, you can track your progress and better visualize your wins.

If you’re like me and tend to get off track, SMART goals are your best friend.

Writing and implementing SMART goals can help you reach your professional goals much faster because you can break your ultimate objective into actionable steps. Think of them as your plan for success!

Professional Goal Examples

Ready to set a goal for yourself, but you need some examples? Here are FIFTEEN examples of professional goals:

1. Land an internship

If you’re a college student looking for work experience or want to enter a new industry, landing an internship is an excellent goal. Internships are a great way to gain the skills you need to be successful in your industry.

Plus, you’ll gain insider knowledge. You can acknowledge your experience on your resume, giving you a leg up on your competition.

Pro tip: Check with your local labor unions or your university’s Student Success Center for leads on potential internships.

2. Grow Your Network

When I decided to become a freelance writer, I knew I needed to grow my network and connect with others.

Growing your network is a good idea for many reasons, including collaborating with like-minded people and uncovering career opportunities.

Becoming active on social media platforms, like LinkedIn, and attending in-person meetings is a great way to make yourself available and gain new connections.

Pro tip: If you want to grow your network online, commit to regularly posting updates on social media. Social media management tools can help you keep up with your posts and nurture relationships with your followers.

3. Learn a New Skill

Increasing your skill set is a fantastic professional goal. Think about the skills you need to be successful in your work. Are there any skills you need to brush up on?

Or, if you’re looking to change careers or get a promotion, which skills will make your transition easier? Make a list and find ways to gain those skills, like taking a class or attending a seminar.

Pro tip: After making your list of desired skills, use the SMART goals framework to create an actionable learning plan.

4. Start a Podcast

Kaitlin Milliken, Senior Program Manager HubSpot, made starting a podcast one of her professional goals. Podcasting is a great way to gain technical and interviewing skills.

Milliken says, “One of my professional goals was to start a podcast. I was lucky enough to work as a multimedia producer at a startup that was looking to kick one off. I started by listening to other shows for inspiration — Reply All, The Journal, and Post Reports were really big at the time.

Miliken says she spoke with a few folks who had started their own hobby shows to get a sense of what gear was available within her budget.

"After that, I pitched ideas, wrote scripts, and started booking interviews. The big challenge was finding the time," she says. "I was still reporting stories, making newsletters, and creating videos in my role."

She explains, "I had to be very intentional about blocking off time on my calendar so I could accomplish this professional goal.”

Pro Tip: If starting a podcast is one of your professional goals, listen to related podcasts for inspiration for your own.

5. Earn a Professional Certificate

Depending on your job, you may need a professional certificate to advance your career. As a teacher, I needed to become licensed to teach my chosen subject. So, I spent a lot of time taking education courses to gain licensure.

If earning a professional certificate is on your list of professional goals, look for classes that offer relevant certifications. Then, commit to signing up for and completing the course.

Pro tip: Many companies offer continuing education courses for their employees. Take advantage of these offerings to advance your career and deepen your knowledge base. HubSpot Academy is also a great resource for learning new skills and receiving certifications.

6. Start a New Business or Company Initiative

Your personal goals can double as a company initiative, too. Not only will you benefit from gaining new skills, but your company benefits from your efforts, too. Caroline Forsey, Principal Marketing Manager at HubSpot, made starting a new company-wide initiative one of her professional goals.

Forsey says, “A professional goal I set for myself was to own the first thought leadership program at HubSpot -- I succeeded in doing so by leaning into team and company-wide goals and ensuring my program became indispensable to hitting those goals."

She explains, "So, for instance, I knew our team-wide goals were to grow organic traffic on the SERPs."

Rather than leaning into social or email views for my program, Forsey ensured she kept organic views top-of-mind with each piece of content she created for the program.

"I continued to ask myself: Does this have search intent? Is there MSV? Can I make it more SEO-optimized?" she explains. "It's always tempting to lean into personal interests when creating and working towards a goal, but it’s critical you keep the larger picture top-of-mind if you want it to gain buy-in from stakeholders.”

7. Become a Pro at Time Management

If you’re anything like me, the workday can slip by before you know it. And in times like that, productivity seems to go out the window. Becoming better at time management is an excellent professional goal and a necessary skill for many jobs within any industry.

To improve your time management, you might need to reduce your distractions or use a planner to schedule your workday.

Pro tip: Time blocking is a fantastic way to stay on task. At the start of each day, write down your to-do list and break it into smaller chunks that you can complete in a certain amount of time. Then, commit to completing those tasks during your given timeframe.

8. Increase Your Sales

If you’re in sales, you know how important it is for your company to reach your sales and revenue targets yearly. So, setting “Increase My Sales” as a personal and professional goal is not a bad idea. Take a look at your numbers, then determine where and how you need to improve it.

Pro tip: Check with your managers about their sales enablement program. Sales enablement can help you learn how to manage your sales more effectively.

9. Be a Star Employee

Becoming a star employee is really about advancing your career within your company. Erica Santiago, Marketing Manager at HubSpot, made this one of her professional goals and told me how she did it.

Santiago says, "A professional goal of mine at HubSpot was to really own a lane in terms of content so that I could be a go-to for certain projects and really get my name out in the company."

She says she noticed other writers and contributors seemed to really own a topic, and it helped them stand out.

"I wanted to do the same to set myself up for opportunities," she says. "I achieved this by taking a moment to ask myself what my strengths are, what topics I enjoy, and how these things tie in with HubSpot's greater goals."

Eventually, Santiago realized that the creator economy is a topic that she's really familiar with, thanks to the content creation she does outside of HubSpot.

She then realized there are content creators who could benefit from HubSpot’s marketing products and blog content.

"From there, I took it upon myself to write more content centered on creators and eventually started my series 'The Creative,'" she explains. "It‘s still getting off the ground, but the content that’s come out so far has proven it to be a promising project."

She continues, "Now, I‘m regularly assigned creator economy-based content, and I’ve carved my own niche within the marketing blog.”

10. Become a Mentor

If you feel you have a lot of industry experience and knowledge to share, consider making "Become a Mentor” one of your professional goals. As a mentor, you’ll gain leadership skills, like teaching, while positioning yourself as a leader in your field.

Pro tip: If you want to become a mentor, consider partnering with your manager to design a mentorship program for new employees. If your organization already has a mentorship program, sign up to share your knowledge with others.

11. Create a Work-Life Balance

As someone who works from home, it can be tempting to work 24/7. But one of the biggest reasons I started my own business was to have time for the things I wanted to pursue—like running a half marathon and working on my personal blog.

So, making it a goal to create a better work-life balance was a must! Time to refresh and recharge is critical to decreasing the chance of burnout.

Pro tip: Commit to keeping your work at work. That means getting into the habit of leaving unfinished tasks on your desk for the next day. You can always pick up on your tasks later.

12. Get a Promotion

Many people share the professional goal of working towards a promotion, which often comes with a salary increase.

Martina Bretous, Editor of HubSpot’s Next in AI blog, made getting a promotion her goal. But she didn’t sit idly by and wait for her managers to notice her. Instead, she made a plan and shared it with me.

Bretous says one of her professional goals was to become a blog editor at HubSpot.

"The first thing I did was ask blog editors to shadow them. This was a key part of my learning," she recalls. "I had to understand the day-to-day of the role and ask questions to understand initiatives, goals, and challenges.

She then took any opportunity to fill in when an editor was out of the office. This gave her the hands-on experience she was looking for before she was actually in the role full-time.

"All of this prep work set me up nicely so that when an opportunity presented itself to fill in that role, I was a shoo-in because I knew the property very well," she says. "Other editors could recommend me as someone who understood the blog and confirm that I had hands-on experience."

13. Become a Pro at Technology

Technology is constantly changing, which sometimes means our jobs change with it. If using technology is integral to your job, consider becoming a pro or super user of your tech stack.

This will help keep your skills current and set you up as the office go-to for assisting others in learning, too.

Pro tip: Depending on the tech you use in the office, many organizations offer training courses on how to use their products. Sign up for their email newsletter to stay on top of their training and product releases.

14. Publish Your Research

Publishing your research can set you up for success and position you as an industry expert. Consider writing and publishing your work in industry publications if this is a career goal.

You’ll gain new writing skills and learn how to promote your work to experts in the field.

Pro tip: Research industry publications and their submission guidelines. Each publication may have different submission guidelines, and it’s helpful to know them upfront to save time in the submission process later.

15. Receive an Award

It’s nice to be recognized for your dedication and hard work. Plus, recognition can add to your credibility and credentials as an expert. Receiving acknowledgments and an award takes time, though.

But if this is your professional goal, it’s well worth the effort.

Pro tip: Consider the backgrounds of the award winners within your industry. What did they do to stand out amongst the crowd? Use what you learn from their experiences to map your own path to success.

Be sure to make it your personal roadmap, though, to stand out.

Ready to set your goals in motion? Here are five tips from me and our HubSpot experts for achieving professional goals.

1. Lean Into Your Network

Your network is a gold mine of opportunity. Instead of “gold mine,” rebrand it to “goal mine.”

Milliken offers expert advice on using your network to achieve your professional goals:

“Make the most of your network. The chances are there’s someone you already know who has accomplished the professional goal you want to achieve. In my experience, people have been really generous about sharing their advice. You just need to reach out.”

2. Break Your Goals Down

If you’re not careful, your professional goals can become too big to achieve and manage. Instead, follow Bretous’ advice and break your goals into smaller pieces.

Bretous says, “My advice to anyone with a goal is to break it down into bite-size pieces. Because having a goal can get overwhelming when you see how much you have to accomplish to get there."

She explains, "To avoid that, break it into measurable, smaller goals that you can tackle on a daily or weekly basis. And don’t forget to lean on colleagues and managers for help in achieving this goal.”

3. Find a Mentor

You don’t have to tackle your goals alone. Support, especially from a mentor or manager, is invaluable.

Santiago suggests reaching out to your manager. 

“Share your goals with your manager so they can help steer you in the right direction," she explains. "When I first thought of The Creative, I wasn't sure how to pitch it or what direction to take it in. So, I reached out to my manager, and he helped me fill in the blanks."

4. Be Your Own Advocate

Advocating for yourself is a tough lesson to learn. However, if you want to achieve professional goals, you need to learn to be your own advocate.

Forsey agrees and offers two essential tips for advocating for yourself. Forsey says, “My tip for achieving personal goals is a) ensure your personal goals are aligned with larger business goals, and b) be a major advocate for yourself!"

She explains, "Let people across the company know the impact your goals are having on the company— and, equally importantly, make sure your manager as well as leadership is aware of your personal goals."

Forsey says to continue asking your manager things like, “My personal goal is X. What is your advice on how to get closer to that goal?” or “My personal goal is X. How am I measuring up when it comes to meeting that goal?”

"Having leadership aware of your personal goals helps create personal momentum even on the days that you're feeling less motivated," she says.

5. Seek Feedback

My last tip for achieving professional goals is to seek feedback. In my experience, feedback is an invaluable tool for guiding your personal improvement.

If your manager doesn’t directly offer feedback, don’t be afraid to ask for it. Their insights into your work can help you identify areas for improvement that you might not have been aware of.

Work Toward Your Professional Goals

Professional goals are more than things to check off your to-do list. Instead, they help advance your career and give you a purpose for your hard work.

Don’t let your goals get out of hand, though. Set yourself up for success by using the SMART goals framework and breaking your goals into smaller tasks. With this framework in place, you’ll hit your targets in no time!

Don't forget to share this post!

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Plan Your Business

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How to Write a Business Plan

Noah Parsons

May. 7, 2024

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Angelique O'Rourke

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New to business planning? Start here

What should i include in my business plan.

You must have an executive summary, product/service description, market and competitive analysis, marketing and sales plan, operations overview, milestones, company overview, financial plan, and appendix.

Why should I write a business plan?

Businesses that write a business plan typically grow 30% faster because it helps them minimize risk, establish important milestones, track progress, and make more confident decisions.

What are the qualities of a good business plan?

A good business plan uses clear language, shows realistic goals, fits the needs of your business, and highlights any assumptions you’re making.

How long should my business plan be?

There is no target length for a business plan. It should be as long as you need it to be. A good rule of thumb is to go as short as possible, without missing any crucial information. You can always expand your business plan later.

How do I write a simple business plan?

Use a one-page business plan format to create a simple business plan. It includes all of the critical sections of a traditional business plan but can be completed in as little as 30 minutes.

What should I do before writing a business plan?

If you do anything before writing—figure out why you’re writing a business plan. You’ll save time and create a far more useful plan.

What is the first step in writing a business plan?

The first thing you’ll do when writing a business plan is describe the problem you’re solving and what your solution is.

What is the biggest mistake I can make when writing a business plan?

The worst thing you can do is not plan at all. You’ll miss potential issues and opportunities and struggle to make strategic decisions.

Business planning guides

Learn what a business plan is, why you need one, when to write it, and the fundamental elements that make it a unique tool for business success.

Types of business plans

Explore different business plan formats and determine which type best suits your needs.

How to write a business plan

A step-by-step guide to quickly create a working business plan.

Tips to write your business plan

A curated selection of business plan writing tips and best practices from our experienced in-house planning experts.

Explore industry-specific guides to learn what to focus on when writing your business plan.

Create your plan the paint by numbers way.

Business planning FAQ

What is business planning?

Business planning is the act of sitting down to establish goals, strategies, and actions you intend to take to successfully start, manage, and grow a business.

What are the 7 steps of a business plan?

The seven steps to write a business plan include:

• Craft a brief executive summary
• Describe your products and services
• Conduct market research and compile data into a market analysis
• Describe your marketing and sales strategy
• Outline your organizational structure and management team
• Develop financial projections for sales, revenue, and cash flow
• Add additional documents to your appendix

What should a business plan include?

A traditional business plan should include:

• An executive summary
• Description of your products and services
• Market analysis
• Competitive analysis
• Marketing and sales plan
• Overview of business operations
• Milestones and metrics
• Description of your organization and management team
• Financial plan and forecasts

Do you really need a business plan?

You are more likely to start and grow into a successful business if you write a business plan.

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

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Free Marketing Plan Examples: Real-World Samples & Templates

By Joe Weller | April 27, 2024

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A  marketing plan  is a comprehensive document that outlines a company’s marketing strategy and tactics, and ensures that its marketing goals align with its overall objectives. Effective marketing plans include detailed analysis of the market along with roadmaps for upcoming campaigns. Inside this article, you’ll find the  elements of a marketing plan , 10 real-world examples of marketing plans with commentary from experienced marketing professionals, free marketing plan templates and samples , and a  chart to help you determine which template suits your needs .

Marketing Plan Elements

Typical marketing plans begin with an executive summary and include audience demographics, company objectives, situational analysis of the business, and marketing strategies and tactics. Market research and analysis provide campaign direction, and the budget and timeline offer practical parameters. A marketing plan can provide an overview of all strategies and campaigns to be executed in a certain time frame, or it can focus on a specific product, channel, or strategy. The level of detail and the sections included might vary, depending on the organization’s needs. The nine main elements of a marketing plan are:  

Executive Summary and Mission Statement:  A concise, high-level summary conveys the purpose of your marketing plan, introduces key strategies and research insights, and highlights the most important takeaways for stakeholders. For example, an executive summary might outline your brand’s identity, its place within the competitive landscape, and the major opportunities that upcoming marketing campaigns will target. Longer plans might include a separate mission statement or vision statement to align marketing efforts with your company’s larger goals. Discover more  examples of executive summaries with templates to help you write one effectively.  

Situational Analysis:  One of the most crucial elements of your marketing plan, a situational analysis is an assessment of the internal and external factors affecting a business’s performance. It should include research-based insights into market trends and dynamics, customer demographics and pain points, and internal resources.  A strong situational analysis often includes a SWOT (strengths, weaknesses, opportunities, threats) analysis, which provides a foundation for an effective marketing strategy. Learn more about  how to perform a SWOT analysis .  

Competitive Analysis:  Understanding the competition is key to developing a compelling marketing plan. This analysis should consider recent marketing campaigns from similar brands to identify successful ways to reach a shared target audience. Being aware of the competitive landscape can also help your business develop a unique selling proposition and stand out in the market. The competitive analysis might be included in the larger situational analysis, or it might be a stand-alone section. For example, a marketing plan could include data on how competitors rank on keywords, or it could evaluate the performance of competitors’ recent social media campaigns. One common framework for understanding market dynamics is a Porter’s five forces analysis, which identifies the forces that contribute to industry rivals. Learn how to evaluate the competitive landscape with  free industry analysis templates .  

Target Audience: In order to implement marketing strategies that engage consumers and drive conversions, businesses need to know who their audience is, what they want, and how they behave. A marketing plan should define a specific, segmented target audience with demographic, geographical, psychographic, and behavioral data.  This section often includes customer profiles or buyer personas — fictionalized representations of ideal customers or audience segments — which help marketers typify consumer behaviors. These profiles should include media habits and most-used platforms to ensure that your marketing plan selects the right channels for each campaign. Learn how to analyze your target market with  free customer profile templates .  

Goals and Objectives:  Marketing plans typically include both long-term goals, which provide broad direction for the company’s marketing strategy, and short-term objectives, which focus on more immediate tactics and campaigns. Goals should be SMART (specific, measurable, achievable, relevant, time-bound) and include corresponding key performance indicators (KPIs).  The goals and objectives in a marketing plan often focus on conversions, market share, brand awareness, or engagement. Clearly defined goals ensure strategically aligned marketing initiatives with measurable results. Take a look at  real-world examples of SMART goals for more insights.  

Marketing Strategy:  This section of a marketing plan details the business’s unique value proposition and the channels that will communicate it. A robust marketing strategy addresses the touchpoints in a consumer’s buying cycle and breaks down the 4 Ps (product, price, place, promotion) of the marketing mix. Channels might include digital marketing, advertisements, social media, and influencer partnerships. To develop an overarching marketing strategy, consider using a  marketing strategy template . To learn more about the 4 Ps, read this  product marketing guide .  

Tactics and Action Plan:  A marketing plan is not an abstract strategy document, but a concrete roadmap for executing specific campaigns with specific tactics. Your plan should detail the messaging for each campaign and the corresponding methods for communication — such as email newsletters, social content, targeted ads, and public relations.  This section provides KPIs and actionable steps such as resource allocation, deliverables, and distribution plans. It might also include the expected outcome for each campaign. To plan individual campaigns, consider using a  marketing project plan template .  

Budget:  Marketing expenses might include the cost of advertising, content creation, website maintenance, or promotional materials; no marketing plan is complete without a budget that breaks down the costs of such initiatives. A clear, comprehensive budget ensures that marketing efforts are financially feasible and resources can be allocated for maximum impact. The budget also enables the marketing team to track the return on investment (ROI) of each campaign. To create a comprehensive budget, try our  free marketing budget templates .    

Timeline:  Finally, a marketing plan includes a clear schedule for implementing its initiatives and tactics. This timeline details the start and end dates of each campaign, deadlines for deliverables, and key events or milestones. It keeps the marketing team aligned and initiatives on track, ensuring that marketing objectives can be achieved within the set time frame. Organize dates and deadlines with the help of a  marketing timeline template .  

Marketing Plan Examples

Real-world marketing plans show how businesses utilize effective planning documents. These 10 examples from various industries exhibit unique strengths and weaknesses. With insightful commentary from marketing experts, these plans offer practical takeaways any marketer can use.  

Delmarva and the Ground for Change This  in-depth marketing plan for a documentary produced by the USDA Northeast Climate Hub includes audience profiles, competitive analysis, and a distribution plan. Along with a detailed breakdown of its digital marketing strategy, it considers how different tactics will affect the viewer’s content journey.   

John Dinsmore , a marketing consultant and professor at Wright State University, praises this plan for its attractive design and thoughtful, thorough content: “They do a nice job of extrapolating on who the target market is and tying their tactics to achieving specific goals.”  He appreciates the inclusion of a SWOT analysis, but feels it could be done more effectively. “‘Opportunities’ is not a place for business ideas. It’s a place to identify external, positive trends that can help your initiative. In this context, an opportunity could be ‘Rising concern for and awareness of climate issues.’ Similarly, ‘threats’ is not a place to list things that are difficult. It’s for negative external trends such as ‘Increased skepticism over ability to combat climate change.’” 

Dekker Fraser , former Global Marketing Manager at Sony PlayStation, adds that this plan includes a strong focus on collaborations with media and influencers: “Many marketing plans place too much emphasis on target customers and not enough on target collaborators.”  

Minnesota Tourism This  marketing plan by Explore Minnesota , the state’s Department of Tourism, showcases Minnesota’s beauty with vivid imagery. It uses a variety of demographic information to identify priority audience segments and includes well-designed infographics that analyze audience and competition. As a result, the campaigns are clearly targeted at specific audiences and objectives. 

John Rarrick , Head of Marketing at Movius Corp., admires the strength of the message behind the strategy. “This plan has a very well-developed ‘why,’” he says. “You’ll see that often when the plan is to repair or save something that has undergone a time of great loss — such as a loss of revenue or reputation. The audience personas, goals, tactics, and budget are all detailed and measurable.” 

Gold Coast Transit District  

A  short, high-level marketing plan for Gold Coast Transit highlights key campaigns and includes the most important details, such as timelines, budgets, and tactics. It begins with a bulleted overview of the most important takeaways and takes into account general marketing efforts that don’t fit under a specific campaign umbrella. Fraser notes that this plan includes year-round marketing initiatives, with an effective “emphasis on strong offers, such as youth-free fares.” However, he points out that its brand awareness goals could be more specific. “Instead, use context-specific awareness goals such as ‘When commuting to work, residents first think of Gold Coast Transit’ or ‘When coming home from the library at night, I think of taking the bus,’” he says. “In other words, peg awareness to specific category-entry points.”  

University of Arizona College of Engineering This  marketing, branding, and communications plan for the University of Arizona College of Engineering sets out a long-term vision, high-level goals, and strategies for achieving these goals. It has a section for methodology — including promotional videos and email newsletters — and segments its audience to align with its strategies. This plan “demonstrates a clearly defined audience,” according to Rarrick. That said, not every section of the plan includes the same level of specificity. “The KPIs are vague,” he adds. “I would expect to see something more measurable, rather than ‘increase’ or ‘improve.’” 

Timberland Regional Library This  library's two-year marketing plan sets initiatives in motion with a clear schedule for action. It includes both promotional and production calendars for effective planning, which is especially important for campaigns pegged to external events.  Dinsmore cites this plan’s “professional and elegant graphic design” as a strength. It also offers a roadmap for tackling several marketing campaigns on different timelines. However, he suggests that the plan needs more measurable goals and defined strategies. “There’s no overarching strategy that ties all of these tactics and initiatives together,” he says. “It’s just a laundry list of dates and actions.” 

Safe Haven Family Shelter Nonprofit organizations need creative marketing strategies to reach their targets and use funds efficiently. With specific objectives and actionable steps, this  marketing plan for Safe Haven Family Shelter delineates high-level goals and details the path to achieving them. It identifies the roles and responsibilities of individual team members to ensure alignment. Rarrick commends this plan for its “clearly defined audience and very clearly defined goals.” The plan showcases the differences between strategic business goals and measurable marketing objectives.  

Visit Myrtle Beach This  destination marketing plan by the Myrtle Beach, South Carolina Chamber of Commerce  incorporates detailed information about target markets, audience personas, and key behaviors. It includes an infographic that illuminates the touchpoints in a traveler’s journey and shows the marketing team how each tactic contributes to conversions.  Overall, Dinsmore praises this plan as a “very smart and thoughtful presentation.” It outlines a distinct media mix for each target audience, defines its objectives clearly, and ties these objectives to success metrics. He continues, “I want to thank the Myrtle Beach folks for planning to measure their efforts. Measurement is often anathema to marketing people, but if you’re not measuring, you don’t know how to improve.”  With so much information to cover, the plan would benefit from an executive summary to introduce key takeaways. “The bigger the scope, the harder it is to make everything feel connected, and that’s a bit of an issue with this plan,” Dinsmore adds.  

Tropical Avocados This  example of a no-frills plan was commissioned by the nonprofit Improving Economies for Stronger Communities (IESC) to help brand and launch tropical avocados in the U.S. market. It shows the importance of making branding decisions backed by market and consumer research. A detailed SWOT analysis and competitive analysis provide essential insights that enable the company to determine the best unique selling proposition.  A key strength of this plan is its detailed research into its audience. Fraser cites its “excellent identification of consumer objections — e.g., concern over how natural the avocado size is — and consumer behavior.” As a result, the brand can adopt effective messaging in its marketing campaigns. As with USDA Northeast Climate Hub’s Delmarva and the Ground for Change documentary, “target collaborators — e.g., food writers, organizations, and chefs — are included in the target audience. Collaborators are often more critical to the marketing plan than the consumers themselves,” Fraser adds.  

Rochelle Community Hospital This  case study of Rochelle Community Hospital in Rochelle, Illinois, shows how a targeted marketing plan can be used to achieve significant results. The report by Legato Healthcare Marketing showcases the importance of reevaluating an existing marketing strategy — in this case, shifting the emphasis from print to digital. External marketing agencies often have more tools at their disposal, particularly if the business has not had a strong digital presence. With targeted ads and website updates, the agency employed tactics with direct metrics in order to track its impact.   

Visit Concord This  example from the Concord Tourism Improvement District marketing plan is concise and includes streamlined insights on the audience and market. It details each marketing channel with specific tactics and measurable KPIs.  The overall strategy, according to Fraser, offers “an excellent emphasis on social proof and word-of-mouth marketing,” as well as a “good balance of awareness and activation marketing.” In order to improve, he suggests, “the plan should factor in the following critical quantitative factors to help drive the media strategy: reach, frequency, and the total-addressable market.” 

Marketing Plan Templates

Using a template takes the guesswork out of organizing a marketing plan document. These customizable templates include essential elements and options for specific industries or marketing channels, and they range from one-page plans to comprehensive, presentation-ready reports.

Microsoft Word Simple Marketing Plan Template

Download the Simple Marketing Plan Example Template for Microsoft Word Download the Blank Simple Marketing Plan Template for Microsoft Word

This example of a simple, customizable plan focuses on key strategies and prioritizes readability. This one-page marketing plan template includes space to summarize marketing strategy and overarching business objectives, along with an action plan to highlight responsibilities and deadlines.

Microsoft Word Annual Marketing Plan Template

Download the Annual Marketing Plan Example Template for Microsoft Word Download the Blank Annual Marketing Plan Template for Microsoft Word  

This comprehensive marketing plan template includes a number of key sections — such as goals, target market, marketing channels, and performance standards — that can be customized to suit a variety of businesses. In the situational analysis, you can find space for both a 5C (company, collaborators, customers, competitors, climate) analysis and a SWOT analysis. The blank template begins with a table of contents, a business summary, and a mission statement to allow for easy readability. The sample focuses on marketing strategies for one fiscal year, but you can modify this plan for any time period. 

Microsoft Word Small Business Marketing Plan Template

Download the Small Business Marketing Plan Example Template for Microsoft Word Download the Blank Small Business Marketing Plan Template for Microsoft Word

A strong marketing plan is essential for small businesses looking to stand out from larger competitors. This small business marketing plan template provides an outline for a detailed marketing strategy, including a unique selling proposition, the 4Ps marketing mix, and marketing channels. It builds its strategy on situational analysis and identification of the business’s core capabilities. Find  more marketing plan templates  for different industries.

Microsoft Word Nonprofit Marketing Plan Template

Download the Nonprofit Marketing Plan Example Template for Microsoft Word Download the Blank Nonprofit Marketing Plan Template for Microsoft Word

This example marketing plan for a nonprofit incorporates information on the funding climate into its situational analysis, as well as a detailed organizational summary. With sections for short- and long-term goals, marketing strategies and channels, and stakeholder profiles, the template is comprehensive and customizable. Find  more nonprofit marketing plan templates here .

Excel Product Marketing Plan Template

Download the Product Marketing Plan Example Template for Excel Download the Blank Product Marketing Plan Template for Excel

When integrating a new product into existing marketing strategies, it’s important to take into account all the elements of the marketing mix. This product marketing plan template is organized by product, price, place, promotion, process, people, and physical evidence. In these sections, you can find space to consider market research, consumer behaviors, and marketing channels.

Excel Social Media Marketing Plan Template

Download the Social Media Marketing Plan Example Template for Excel Download the Blank Social Media Marketing Plan Template for Excel

For planning specific campaigns, this social media marketing action plan template begins with the campaign goal, highlights important promo dates, and separates actions by platform. It’s useful for executing targeted social media campaigns within a larger marketing strategy. Find  more marketing action plan templates here .

Excel Digital Marketing Plan Template

Download the Digital Marketing Plan Example Template for Excel Download the Blank Digital Marketing Plan Template for Excel

Focusing on digital marketing channels is an effective way to organize strategies into a streamlined and actionable plan. This strategic digital marketing template highlights important audience behaviors and access channels to ensure messaging reaches consumers. Customizable for a variety of digital marketing projects, the template includes space for keywords, goals, and tasks. Find  more digital marketing plan templates here .

Which Marketing Plan Format Is Right for You?

To choose the right marketing plan format for your needs, consider the plan’s role in your marketing strategy. Do you need a comprehensive plan to provide an overview of tactics that will take place over a long period of time? Or are you looking for a plan to focus on specific channels, campaigns, or product launches? 

Each template in this article offers space to detail market research, strategies, and access channels. The longer plans include more sections for in-depth situational analysis and audience demographics, while the shorter plans focus on the marketing mix and action plan. This chart highlights the key elements of each marketing plan:  

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