Writing a good business plan depends on several factors considered key to the growth of a business. A comprehensive business plan helps in charting a course for the future sustainability of your venture, eventually translating to profitability and stability.
Do you know different types of business plan exist? Do you know you can make good money writing business plans? Are you aware of the critical risks associated with a business plan? Are you looking for a business plan writing software, try Liveplan.
Well, let’s go through the world of business plans together.
What is a Business Plan Sample?
A business plan template provides a model of what a good business plan should contain. It usually comes in an open-ended format to give users the opportunity of modifying different sections to suit their purposes.
For example, users of a particular one page business plan template will certainly have different ideas they want to write on. Mr A might may want to use the template to write a business plan for a poultry business, while Mr B may want to write on liquor store business.
Whatever the business idea is, a template makes it easy for users to adopt by filling unique details into spaces already provided. It is, therefore, the perfect guide for users.
A Simple Business Plan Sample Outline
All business plan samples follow a particular order. Although they may have slight variations, these samples should follow an outline in order not to end up looking shabby.
For example, an executive summary cannot come at the bottom of your business plan. The point here is that the arrangement of a business plan sample is sequential so as to adequately guide users.
An example of a good business plan outline will include the following sections in this order;
– Executive Summary
– Company Description
– Products and Services
– Marketing Plan
– Operational Plan
– Management and Organization
– Startup Expenses and Capitalization
– Financial Plan and lastly
Here is a brief explanation on the sections:
Because of the importance this section, it usually comes first. Investors pay close attention to it in order to find out if your business is worth investing in or not. Hence, this section should captivate the reader and exude the enthusiasm of the business plan writer.
This contains a basic description of your business highlighted through; the mission and vision statements, the goals, your target market, your legal structure or ownership, and the industry.
Products and Services
This section showcases the products and services offered and how they solve particular needs. This is usually presented from the client’s point of view.
Also, it highlights the competitive advantages the business has over its competitors, and lastly the pricing structure of its products.
The marketing plan section provides information on the type of marketing to attract and retain customers. It highlights the target market for the business, a marketing research, barriers to entry, as well as threats to business promotion.
Information on general and specific business operations are important here. This section covers areas such as production, quality control, location and the legal environment of the business. The hired personnel, inventory, suppliers and the business’ credit policies are also highlighted this section.
Management and Organization
The management organization of the business is provided, with the functions and duties of each position clearly spelled out. This is because the way a business is organized around these offices affects business performance.
Startup Expenses and Capitalization
This aspect is crucial to business plans and investors are usually very interested in its contents. It includes the startup expenses, opening day balance sheet and personal financial statements.
The financial plan should provide financial projections at certain intervals. This can be yearly intervals, as the case may be. It should also contain a cash flow projection of the business, and a break-even calculation.
Some details are not made available on the business plan in order to prevent cluttering.These details are collated into an appendix where readers get further clarifications.
How to Use a Business Plan Template to Develop Yours
Using a template is the easiest way to develop a business plan unique to your needs. It saves costs that would have been incurred if the plan was written by an expert.
By providing preambles to what should be contained in each section, it allows you to brainstorm on other areas needed to produce a business plan uniquely suited to your business needs and goals.
EXAMPLES OF BUSINESS PLAN TEMPLATES
- Poultry farming
- Bike Taxi
- Life coaching
- Group home
- Pig farming
- Egg production
- Fish farming
- Cupcake shop
- Food delivery
- Amazon fba
Importance and Uses of a Business Plan Template
The importance of a business plan template cannot be overemphasized. Instead of paying hundreds of dollars to business consultants to write a business plan for you, templates come in handy in the sense that they eliminate technical and structural problems that face most people who have difficulties writing a business plan.
It is a guide that provides a preamble to the contents that should follow, with additional instructions on what should be contained. This helps the writer to understand what to write after brainstorming on what is unique about his business.
A business plan template provides guidelines on how to write a comprehensive business plan. They are used to write convincing plans that encourage investors and money lenders to invest in the business.
Business plan templates are non-conclusive. In other words, they are open-ended. So if you would like to write a business plan template, remember that it should not be affiliated with a particular business type.
There is an exception to this though. Some writers might want to prepare a business plan template for restaurant businesses or other niches of particular interest to them. In this instance, a general model may be created for these related business opportunities.
Whichever type of template you choose to create, so long as it contains the general principles and a well laid out structure, it should suffice.
Using templates and software is best approach to writing a convincing business plan that attract funding. Due to the layouts of business plan templates, all a writer needs is to brainstorm on what suits the particular business he is writing on.
For each section, a business plan template provide guidance on what they should contain. This makes it easy for you to create a business plan that impress investors.