Free Business Plan Template
Get access to our free business plan templates. A detailed business plan is a necessity when seeking funding for your business. It also acts as a North Star as you navigate various stages of growing your business.
Download our professional business plan template
Putting together a business plan can feel daunting task – especially the first time. That’s why we created this hand tool to help you.
Our free business plan template is designed to ensure every aspect required for a business plan is considered. This template is intended to help entrepreneurs and small business owners write well-structured business plans to show investors or lenders and increase the chances of success. Download now!
What is a business plan?
A business plan is a written document that outlines how you intend to make money and grow your business. It clearly outlines and solidifies company goals, objectives, target market, operational and marketing plans, and financial projections.
Business plans are also an important business document that entrepreneurs or small business owners create when seeking financing from investors or lenders.
Benefits of using a business plan template
While some people prefer to create their business plans from scratch, using a free business plan template has advantages. A template helps you to easily:
- Get general guidance on the information needed
- Hone your business idea
- Ensure your plan is well structured and easy to understand
- Save a ton of time and money – many business plan templates are free
How to write a business plan
Writing a successful business plan can seem challenging since it involves hours of preparation and can be over a hundred pages in some cases. Also, there is no one formula for writing an effective business plan.
However, when putting together a business plan, make sure it is convincing, concise, and realistic. Ineffective business plans are often overly ambitious with goals and have unrealistic forecasts. This article goes into more depth on how to write a good business plan.
What is included in a business plan?
When creating a business plan, here are the seven elements included in a traditional business plan:
- Executive summary
- Company description/details
- Service/product line
- Market analysis
- Organization and management team
- Strategy and implementation
- Financial projections and funding requests
What are the different types of business plans?
There are many different types of business plans, each serving different purposes. These are the most common and useful types of business plan templates:
Business plan templates: the answers you need to get going
What is the purpose of a business plan?
What is the purpose of a business plan?
Every business starts with having a great business idea and vision. However, not all great business ideas flourish into successful businesses unless properly planned and executed.
The primary purpose of traditional business plans is to document the business vision through strategies and tactics to grow the business in the future. It acts as a business roadmap to set goals, projections, and how these ambitions will be achieved.
Who prepares the business plan?
Who prepares the business plan?
A business plan is created by many different people depending on the stage of the business. It is commonly prepared by the person who is accountable for driving the business — this can be a small business owner or C-level executives.
What are common business plan mistakes?
What are common business plan mistakes?
Here are three business plan mistakes to avoid:
- Setting unrealistic and overly ambitious goals and projections.
- Masking business operation and financial difficulties
- Providing inaccurate and flawed information around marketing and operational plans
Who is a business plan written for?
Who is a business plan written for?
Formal business plans are written for external audiences such as investors or financial lenders. However, internal staff can also use a business plan as a business roadmap.
Who reads the business plan?
Who reads the business plan?
Investors and financial institutions commonly read a business plan before authorizing funding or a business loan. A business plan will help them access business opportunities and potential risks.