Best Startup Business Plan Sample Format
What is a startup business plan? One of the common mistakes small business owners make when they want to start up their business is the failure to create a business plan. They assume that business plan is for big businesses, hence they don’t need it since their business is a small one. This is a very faulty assumption; every business either big or small needs a business plan.
If you want to start up a small business and you are already waving off the idea of creating a business plan, it will be better for you to change your mind now. You don’t have to worry about the complexities involved in creating a business plan. I have helped you with that.
HOW TO WRITE A STARTUP BUSINESS PLAN
Below is the startup business plan template for small business. I am sure you will find it useful in creating your own business plan.
This section should cover all the basic details of the business in a succinct way. Some of what you should address in the executive summary include:
- What your business is all about.
- The reasons why you want to start it.
- When you are going to start it.
- Where the business will be located.
- Who the founders are.
- What are the experience and expertise of the founders and how it will the business succeed?
- Who the target market is.
- What products and services do you want to offer your target market?
- Why you think they will like it.
- Where and how you see your business in the future?
The business overview should explain in details everything about the business. In the business overview section, you should talk about:
- The history of your business.
- How the business came about.
- Your business description.
- Your business vision and mission statement.
- Your Business goals and objectives.
- The industry your business will be.
- How your business will fit into its industry.
- Factors that will make your business succeed.
- The type of legal structure your business will have.
Products and Services
In this section, you discuss everything about your products and services which will include:
- The list of all the products and services that your business wants to offer.
- The in-depth description of the products and services.
- The overview of how your products will be made/ how your services will be provided.
- The detailed explanation of how your products and services will benefit the consumers.
- The distinguishing features that differentiate your products and services from the other in the market.
- The price rates you intend to fix for your products and services and the reasons for fixing them.
In this section, you carry out a comprehensive research about the market research and then give the analysis. The analysis should entail:
- Your target market and your competitors.
- The size of your target market.
- The products and services that are in high demand.
- Your target customers’ personae.
- The SWOT analysis of your competitors.
- The advantages our business will have over that of your competitors.
- The hidden opportunities that you want to uncover.
- The growth trend in the market.
- The barriers of penetrating into the market and how you plan to overcome them.
This section should talk about how you intend to structure the business and why.
- Who are the people that will be in charge of managing the business?
- How many employees do you intend to have?
- What experience, expertise do they have to help the business grow?
- What is their job description?
- What will be their salaries scale?
Marketing and Sales Strategies
This section will discuss the marketing and sales strategies that you want to use in promoting your business. You should discuss in details:
- The type of marketing strategies you want to use.
- Is your marketing strategies going to be an offline or online campaign or both?
- What type of online or offline marketing strategy do you intend to use and why?
- Which medium of online/offline advertising do you want to use in promoting your business?
- How do you intend to brand your business?
- In what ways are you planning to promote your brand?
- What kind of perception do you want people to have about your business brand and why?
- How much are you budgeting for promoting your business?
In this section, you will give a thorough dissection of the financial plans you have for business. You will discuss:
- The budget you have for the business.
- The amount of money you will need to start up the business.
- The means of funding the business.
- The projected cash flow for the business.
- The ways the business plan to generate revenue.
- Profit and loss projection of the business
- The assets and liability of the business.
These are the important elements that must be present in a startup business plan for small business. With this template I have provided, I am sure you now have a helpful guide to help you in creating a viable business plan for the small business that you want to start up.