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How to Write a Business Proposal [Examples + Template]

Published: June 10, 2024

Here’s what every new business owner needs: an extra eight hours in the day, an endless supply of coffee, and, most importantly, a really strong business proposal.

A business proposal can bridge the gap between you and potential clients. Done correctly, it will outline your value proposition and persuade a company or organization to do business with you.

Here, we’ll take a look at the various kinds of business proposals and go over how to write one. We’ll also see some ideas and examples to help guide yours.

Know exactly what you need? Jump to one of the following sections:

What is a business proposal?

How to write a business proposal, business proposal templates, business proposal examples, tips for writing a business proposal, business proposal ideas.

A business proposal is a formal document that’s created by a company and given to a prospect to secure a business agreement.

It’s a common misconception that business proposals and business plans are the same. However, a proposal helps you sell your product or service — not your business itself.

Think of it this way: Instead of assisting your search for investors to fund your business, a proposal helps you seek new customers.

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• Begin with a title page.
• Explain your why with an executive summary.
• State the problem or need.
• Propose a solution.
• Share your qualifications.
• Include pricing options.
• Summarize with a conclusion.

Before writing your business proposal, it’s crucial you understand the company. If they’ve sent you an RFP, make sure you read it carefully, so you know exactly what they want.

I recommend having an initial call or meeting with any new clients to ensure you fully understand their objectives. Ask open-ended questions to understand not just what they want but why they want it.

Once you’ve done your research, it’s time to begin writing your business proposal. While there’s no one-size-fits-all approach to writing a business proposal, there are several elements most proposals include. (I designed this example business proposal using Canva .)

1. Begin with a title page.

You have to convey some basic information here. Introduce yourself and your business. Be sure to include:

• Your company’s name.
• The date you submitted the proposal.
• The name of the client or individual you’re submitting the proposal to.

Your title page should reconcile engagement with professionalism. I think of it as your first tone-setter, so you need to make sure yours is sleek, aesthetically appealing, and not too “out there.”

Here’s an example of what a business proposal template looks like when done right.

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Blog Business How to Write Business Proposal (Examples + Free Templates)

How to Write Business Proposal (Examples + Free Templates)

Written by: Aditya Sheth Jan 25, 2024

The great Mark Cuban once said, “Sales cure all.” If a business doesn’t sell, it doesn’t make money and by extension the business fails. That’s why you need to write business proposals .

A well-written business proposal can often mean the difference between winning or losing a prospective client.

In this in-depth guide to creating business proposals, we show you how to close more deals, make more sales and crush your business goals — all by using easy-to-edit professional business proposal templates .

Here’s what this guide will cover (click to jump ahead):

What is a business proposal, what are the components of a business proposal.

• How to write a business proposal step by step

What should you include in a business proposal?

What are the types of business proposals, more business proposal examples + writing and design tips.

• FAQs about business proposals

Looking for a shortcut? Watch this quick video for an overview of everything to include in your business proposal:

A business proposal is a document designed to outline a business plan to convince potential client, investor or partner to engage in a business agreement with you or your company. It’s basically a sales pitch in writing to persuade potential clients to show them benefits of working with you or your company for their business success.

A business proposal outlines what your business does and what you can do for your client . It can be general like this business proposal example:

Or it can be more specific, like this business proposal template which focuses on proposing a project for the Newton Center Rail:

Or this business proposal sample, which presents a plan for a social media strategy and campaign:

To design a business proposal that holds the client’s attention, identify their pain points . Then provide your buyer with the right solution to alleviate those frustrations.

Working on a new project? These project proposal examples might come in handy for you.

The components of a business proposal can change depending on the field, company size and client needs. While details may differ, strong proposals typically introduce your company, explain the problem, offer a solution and its benefits, highlight your team’s skills, and outline timeline, cost and next steps.

How to write a business proposal step by step

Before you start creating your business proposal template, you need to understand the business proposal format. At a high level, your effective business proposal should include the following:

• Create a compelling business proposal title
• Build a table of contents
• Craft the executive summary
• Write a detailed problem statement
• Propose your solutions
• Showcase your team’s expertise
• Create a realistic timeline
• Present your payment structure
• Specify the terms and conditions
• Receiving the decision

Below, you can see business proposal examples that demonstrate how to include these 10 sections.

1. Create a compelling business proposal title

A compelling title could mean the difference between someone reading your proposal or ignoring it in favor of a competitor’s . 

What makes a good title page? Here are the essential elements to include: 

• Your name along with your company’s name
• The name of the prospect (or their business) 
• The date you’re submitting the proposal

The gray business consulting proposal template above contains all the details a prospect would want to know. The title also offers a strong tangible benefit to the prospective buyer. Honestly, “Who doesn’t want to grow their business?”

2. Build a table of contents

The table of contents is a fundamental part of every winning business proposal template. It makes your proposal scannable and easy to read.

The people you will be pitching to are usually C-level executives. These are busy people who don’t have time to read your entire proposal in one go.

That’s why most of the business proposal examples in this list include a table of contents.

Adding a table of contents to your document makes it easy for them to go through it at their own pace. They can also skim through parts of the proposal that they deem more important. You can see how this abstract business proposal template uses the table of contents:

You can also make your business proposal template easier to navigate by adding hyperlinks to the document, particularly in the table of contents. This way your clients can jump to specific sections without having to scroll through the entire document. Ensuring your business plan format follows a clear structure can greatly enhance readability and comprehension for potential investors or partners.

It’s easy to add hyperlinks in the Venngage editor. Select the text you’d like to turn into a link, then click the link icon in the top bar. From there, select the page you want to link to! Then download your completed design as an Interactive PDF .

3. Craft the executive summary

The executive summary is a staple in all kinds of annual reports , leadership development plan , project plans and even marketing plans . It is a concise summary of the entire contents of your document. In other words, write a business proposal outline that is easy to glance over and that highlights your value proposition.

The goals of your executive summary are:

• Introduce your company to your buyer
• Provide an overview of your company goals
• Showcase your company’s milestones, overall vision and future plans
• Include any other relevant details

This gray business proposal example has a detailed yet short executive summary including some social proof in the form of clients they’ve worked with:

Take note of how precise this business proposal example is. You want to keep your executive summary concise and clear from the get-go. This sets the right tone for the rest of your proposal. It also gives your buyer a reason to continue reading your proposal.

Crafting an executive summary and keeping it concise and compelling can be challenging. but you can use an AI summarizer online to generate an executive summary. Such tools are trained on relevant AI models that can extract core points from a given text. You can get such a point either in bullet form or in abstract summary form.

Pro Tip: Try to write an executive summary such that, even if your prospective client doesn’t read the entire proposal (with a good executive summary, they most likely will), they should have a clear idea about what your company does and how you can help them.

4. Write a detailed problem statement

The point of writing a business proposal is to solve a buyer’s problem. Your goal is to outline the problem statement as clearly as possible. This develops a sense of urgency in your prospect. They will want to find a solution to the problem. And you have that solution.

 A well-defined problem statement does two things: 

• It shows the prospect you have done your homework instead of sending a generic pitch
• It creates an opportunity for you to point out a problem your prospect might not be aware they had in the first place. 

This bold business proposal template above clearly outlines the problem at hand and also offers a ray of hope i.e. how you can solve your prospect’s problem. This brings me to… 

5. P ropose your solutions

The good stuff. In the proposed solution section, you show how you can alleviate your prospective buyer’s pain points. This can fit onto the problem statement section but if you have a comprehensive solution or prefer to elaborate on the details, a separate section is a good idea.

Spare no details regarding the solution you will provide. When you write a business proposal, explain how you plan to deliver the solution. Include an estimated timeline of when they can expect your solution and other relevant details.

For inspiration, look at how this business proposal template quickly and succinctly outlines the project plan, deliverables and metrics :

6. Showcase your team’s expertise

At this point, the prospect you’re pitching your solution to likes what they’re reading. But they may not trust you to deliver on your promises. Why is this?

It’s because they don’t know you. Your job is to convince them that you can fix their problem. This section is important because it acts as social proof. You can highlight what your company does best and how qualified your team is when you write a business proposal for a potential client.

This free business proposal template showcases the company’s accolades, client testimonials, relevant case studies, and industry awards. You can also include other forms of social proof to establish yourself as a credible business. This makes it that much more likely that they will say yes!

Pro Tip: Attaching in-depth case studies of your work is a great way to build trust with a potential client by showcasing how you’ve solved similar problems for other clients in the past. Our case study examples post can show you how to do just that.

7. Create a realistic timeline

To further demonstrate just how prepared you are, it’s important to outline the next steps you will take should your buyer decide to work with you.

Provide a timeline of how and when you will complete all your deliverables. You can do this by designing a  flow chart . Or add a  roadmap  with deadlines. Pitching a long-term project? A timeline infographic would be a better fit.

If you look at this abstract business proposal template below, even something as simple as a table can do the trick.

The timeline is not always set in stone, rather it’s an estimation. The goal is to clarify any questions your potential client might have about how you will deliver for the underlying B2B sales process.

8. Present your payment and terms

On this page, you can outline your fees, payment schedule, invoice payment terms , as well as legal aspects involved in this deal. You can even use the  Excel Invoice Template  to create professional-looking invoices (including brand logo and other elements) and add them to this page.

The adoption of invoice templates is beneficial for small businesses as it streamlines the invoicing process and maintains professionalism in financial dealings. Also, by utilizing small business invoice templates , you can efficiently manage invoicing tasks while upholding a polished and structured approach to financial transactions.

The key to good pricing is to provide your buyer with options. A  pricing comparison table can help with this. You want to give your client some room to work with. Make sure you’re not scaring off your client with a high price, nor undervaluing yourself. 

Breaking up your pricing in stages is another great way to make sure your potential client knows what he’s paying for. Look at how this simple business proposal template does this:

The legal aspects can slot right into the terms and conditions section. Alternatively, you can add them to the signature section of the proposal to keep things simple.

9. Specify the terms and conditions

Summarize everything you have promised to deliver so far. Include what you expect from your prospective buyer in return.   Add the overall project timeline from start to end, as well as payment methods and payment schedule, incorporating these details into an online digital project management tool. This way, both of you will be clear on what is being agreed on.

This step is very important as it outlines all the legal aspects of the deal. That is why the terms and conditions section of your proposal needs to be as clear as possible.

I recommend consulting a lawyer or your legal team when working on this section of the business proposal. If you’re a business veteran and understand the legalities of your business, you can use the same terms and conditions across all your proposals.

10. Receiving the decision

The final step of this whole process. Your client has read your business proposal and they want to buy what you have to offer.

Add a small section at the end of your proposal to get the necessary signatures. This way, you and your client can sign the proposal and the partnership becomes official.

Be sure to also include your contact information in your business proposal template. It acts as a gentle prompt to your client to contact you in case they have any questions. A professional way of doig that would be to include an e-business card with your contact details, email i.d and any other social links you want to share. You can go through this article for the best digital business cards .

A business proposal usually aims to answer the following questions: 

• Who you are and what your company does
• The problem your buyer is facing
• The solution your company offers to alleviate the problem
• How your company will implement this solution effectively
• An estimate of resources (time, money, etc) required to implement the solution

You can see how this sample business proposal template covers the above points.

Notice how this proposal template addresses the same project like in one of the previous templates, but uses a completely different design style (more retro, while the previous business proposal template is more modern and minimalistic).

Generally, there are three types of business proposals:

1. Formally solicited 

A formally solicited business proposal is made when you respond to an official request to write a business proposal.

In this scenario, you know all the requirements and have more (if not all) information about a prospective buyer. You simply need to write the business proposal for your buyer to evaluate so you can begin the sales process .

2. Informally solicited 

Informally solicited business proposals are written when there isn’t an official request for a proposal. A prospective buyer is interested in your services and asks for a proposal so they can evaluate it.

An informally solicited proposal requires a lot more research from your end. These types of proposals are usually created out of informal conversations. They are not based on official requests which often contain more detail.

3. Unsolicited 

Think of this as a marketing brochure or a cold email . Unsolicited business proposals will often take a generic, one-size-fits-all approach to business proposals. Unsolicited proposals lack any understanding of the buyer or their requirements.

But with additional  market research , personalization and identifying customer pain points , you can propose a customized solution based on your buyer’s needs. This can be a very persuasive approach, such as in this business proposal example:

Now that you know how to write a business proposal, let’s look at how you can optimize your proposal to deliver results!

Below you’ll find some winning business proposal templates and examples to get you started. I’ve also included some design tips to keep in mind when you’re creating your next business proposal: 

1. Know your audience 

If you have some clarity on who your ideal buyer is — their pain points, their budget, deadlines, among other things — you’ve already won half the battle.

If you are a business that helps clients with everything from running giveaways or helping grow their blog , identify which customers to pitch. This is a sure-shot way to close the deal.

Mapping user personas  for your ideal buyer can help bring some clarity. It will also help you position your business proposal correctly. This improves the chance of your buyer moving your business proposal to the “Yes!” pile.

2. Put your brand front and center

If your company follows certain brand guidelines, incorporate them in your business proposal templates. Consider how business proposal examples like the one below highlight brand identity :

From the color palettes to the company logos , everything follows their brand guidelines. The result: a business proposal that’s consistent across the board.

Pro Tip: Switching this template to match your brand assets is actually pretty easy. Venngage’s My Brand Kit feature allows you to import your color palettes, logos as well as font choices. Any Venngage template can now be your template.

You can also consider this sample business proposal template:

App design companies sure do know their design. They did a phenomenal job keeping their brand colors consistent while opting for a black design. This unique color scheme also makes their white logo prominent throughout the proposal.

3. Try less text, more visuals

Have you ever read a proposal and thought to yourself, “Wow, this is all text and has no images, I love it!”? Yeah, me neither.

The free business proposal template below is a perfect example of the “less is more” principle. It does a phenomenal job of communicating what it needs to. By substituting some of the text with icons and visuals, you get a clean business proposal that’s much more scannable.

Want to keep things strictly professional? Instead of icons, you can always add your team’s headshots. This shows your buyer exactly who they’ll be working with.  

Check out this formal business proposal format for some inspiration:

4. Switch up your business proposal designs

It doesn’t hurt to go above and beyond once in a while. Jazz up your business proposal template with some extra colors. This helps make your business proposal more engaging. It also helps your buyers retain information faster.

The business proposal example alternates between black, white and grey backgrounds. It still manages to maintain consistency in its branding . Just switching up your backgrounds once in a while can also bring in some variety to an otherwise standard business proposal.

This SEO business proposal sample proves that it’s possible to switch up the colors in every other page. But it still maintains the same color scheme across the entire proposal just like a professionally designed website : 

Pro Tip: Not a color expert? Our guide on picking colors can help you pick the right color scheme for your proposals.

FAQ about business proposals

What is the purpose of a business proposal.

A business proposal aims to streamline the B2B sales process (which is often complex ) between you as a seller and a buyer.

It does this by serving the dual purpose of acting as a source of information. The proposal also acts as a sales pitch aimed at convincing your buyer why they should buy what you have to offer.

What are the best practices for business proposal design?

• Do a thorough spell-check. The goal of your business proposal is to convince your buyer why you’re the perfect person for the job. A proposal with typos or grammatical errors communicates the opposite. A thorough spell-check before you send your proposal is a must.
• Keep things clear and readable: Clarity is an important aspect that you have to ensure in your business proposal. If you want your proposal to hit home and make an impact on the buyer, you have to write it in an understandable way. To keep things clear and readable, there are a couple of things that you can do. You can, for one, take care to use easy wording and segmented sentences from the get-go. You can also try paraphrasing the hard parts of your proposal once you are done writing it.
• Let your brand shine. As discussed before, writing a business proposal is all about knowing your ideal buyer and focusing on their pain points. But that doesn’t mean your business proposal template has to be boring. Demonstrate how different you are compared to other companies. You can do this through your brand guidelines , by using more visuals, switching up your proposal design or showing off your personality in your writing . 
• Create a business proposal PDF. Downloading your business proposal in PDF format allows you to attach other collaterals with your business proposal. These can include a company explainer video or case studies showcasing the work done with past clients. Also, who doesn’t love saving paper?

How long should your business proposal be? 

The length depends on the scope of the work as well as the complexity of the project. Here is a one-page business proposal template:

Can your business proposal template really be one page? Yes, as long as you understand who your buyer is and their pain points. You should also have the ability to communicate everything your ideal buyer needs to know about your business in a succinct manner.

Or if you’re feeling adventurous how about just two pages? Often, clients prefer if you go straight to the point and avoid all the fluff.

For example, this green modern marketing proposal template wastes no time in getting down to brass tacks:

Need more inspiration? Check out this blog on the 5 marketing proposal examples that’ll help elevate your business.

There is no one size fits all approach when it comes to deciding how many pages you should include in your business proposal template. And at the end of the day, “the only rules are the ones you set for yourself”.

At the end of the day, writing winning business proposals that sell is all about you understanding your buyer, their potential pain points and positioning yourself as someone who can alleviate those pain points. 

Now that you know how to write compelling business proposals, what are you waiting for?

Take action and start creating your own business proposals to close more deals and grow your business today!

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How to Write a Business Proposal [Steps, Tips, & Templates]

You need to send a business proposal, and you want it to close. But how can you improve your chances?

Every year, we analyze the proposals sent with our software to discover what makes closing more likely. We used this research to craft this very guide .

To help you write better business proposals, we’ve curated the essential proposal format, a step-by-step process, plenty of templates to help you get started, and strategies for following up.

From images to esignatures, keep reading for data-backed insights into the most successful proposals.

What’s in this guide:

• What is a business proposal?
• Basic proposal format
• What to prepare before writing a business proposal
• How to write a business proposal in 7 steps
• 8 business proposal templates
• 5 ideas to take your business proposal to the next level
• What to do after you send a business proposal
• Using analytics for business proposal insights

A business proposal is sent by a salesperson or account manager to a prospective client in order to pitch a product or service. A great proposal should include an executive summary or cover letter, details on the project timelines and deliverables, what makes the company the right choice for the job, and pricing and payment details.

Business proposals are typically sent from one business to another for all sorts of different services, such as enterprise software subscriptions, interior design, accounting, marketing, event catering, etc.

The purpose of a business proposal is to:

Sell your product or service with details, client results, testimonials, etc.

Clarify what is and isn’t included in the proposal to accurately manage expectations

Layout terms and conditions to protect both parties

Lock in the deal right away with esignatures built into the proposal

Large corporations and government agencies will typically send out a request for proposal to competing companies and then choose the best (or cheapest) one.

A business proposal is very different from a business plan, because it is typically written to clarify a paid engagement between two companies. This might be a short project or a long contract. A business plan, on the other hand, is typically an internal document crafted to chart a businesses path forward towards goals, such as market expansion, revenue growth, new product lines, etc.

Types of business proposals

There are many different types of business proposals. They are typically broken down by industry.

Here are some common types of business proposals, by industry :

Real estate and construction

Professional services

Proposals can also be categorized based on the type of offering :

One-off projects

Recurring subscription

Ongoing service

Package options

Later on in this guide, we include a variety of proposal templates. Depending on what you selling, you might find it easier to begin with a template designed for your industry or for the type of offer you’re selling (such as a one-off project). So be sure to peruse through the previews of each proposal so that you can see which template will save you the most time.

Business proposal example

An excellent business proposal addresses the client’s pain points and showcases the proposed solution.

Here’s an example business proposal to inspire you. The accounting proposal kicks things off with an attractive cover page.

All in all, it includes the cover page, an executive summary letter, an about us section, team photos and bios, a project summary, a breakdown of the proposed services, a pricing section, onboarding steps, and a contract with esignatures.

The services breakdown offers a great example of how to categorize your services and provide hourly estimates.

After researching over 1 million proposals, we found that winning proposals are most likely to include all of the following.

Here’s the idea proposal structure :

1. Cover page

The cover page, also called a title page, should be kept simple. It prominently features a photograph or graphic design that is on-brand, you can use graphic design templates as a starting point. It also usually includes the project name, or the client name, as well as your company name. Some companies might include contact information on the cover page, while others will save that for a separate page.

Check out this cover page , which is bright, bold, and on-brand.

2. Executive summary

The executive summary is essentially your pitch.

It’s your shot at capturing the client’s attention and showing them that you have an approach that will exceed their expectations.

It’s typically written in paragraph form (1 to 3 paragraphs) but can also include a bulleted list for a more skimmable style.

Make sure that your executive summary includes:

A quick description of the client’s problem or starting point

How your company will serve the client and why you’re suggesting this unique approach

Why your company is the best choice (average results, unique selling propositions, differentiators, awards, etc.)

This content marketing proposal offers an excellent example of an executive summary. Though in this proposal, the section is instead titled “Focus and Objectives.” What makes it great is that it’s on brand, goal-oriented, personable, and skimmable.

3. Approach or solution

In this section, you write about your process and why you approach things the way you do. For example, a Facebook marketing agency might say that they believe that creative work is essential to advertising success, and that’s why they devote 90% of their time to developing videos, images, and copy.

Some companies will craft a custom approach section for each client, while others will re-use the section again and again. It all comes down to the number of services you offer and how much or how little you customize your work.

In corporate training, it’s essential to clarify your approach so the client knows why your system will be effective. In this training template example , their process shows the essential steps in their proprietary approach.

4. About the company

This is your chance to brag. In your company bio, be sure to mention all of the important things that set your company apart. That might include your management style, the talent you have on your team, your average client retention rate or contract length, and any accolades.

With their location, awards, and team structure, this About Us page is an excellent example of how to sell yourself with authority.

5. Deliverables

Use the deliverables section to summarize exactly what the client will receive from the engagement.

A TikTok ads management firm might include 15 ad creatives per month in their deliverables, for example. While an accounting firm might list the reports that will be sent weekly or monthly, along with the bookkeeping service.

In a construction project, on the other hand, the company might showcase the different milestones that the project will hit, and when these milestones are expected to be completed.

In this proposal , the Deliverables section is titled “Scope of Services,” and it includes a list of all of the services that the prospective client will receive. Deliverables are mentioned within the scope, including a logo, brand colors, business cards, and brand guidelines.

6. Social proof or work samples

No matter what you sell, prospective clients will want to know that you have the right experience for the job.

Social proof can come in the form of written testimonials and case studies, video testimonials and case studies, portfolio photographs, G2 and Capterra badges, and rating averages from Google, Trustpilot, or other review sites.

For an architecture firm, construction company, or website designer, work examples can prove more powerful than testimonials. Prospects want to see what you can do. This architecture proposal showcases the company’s work on a rehabilitation project.

The pricing section is of course the one that your clients will read again and again and deliberate over. That’s why it’s so important to make it clear, simple, and well-formatted.

Tables are a great way to showcase what’s included in the total project cost or to provide package options.

Similar to interior design and construction services, event planning typically includes both hourly costs and hard costs (for products and venues). Here’s an example of an event management proposal that includes a breakdown of the hourly work and the hard costs.

8. Terms and conditions

When you use modern proposal software , you can build a contract right into your proposal, eliminating the need for separate contract software.

Your proposal should include legal jargon that can protect both you and your client. You might have a statement of work and a master service agreement or terms and conditions.

In this website design proposal , there are 6 pages in total for the contract section. The potential client can easily click around to view all of these pages and share the proposal with their legal team if needed.

For proposals that are longer than 8 pages, it’s wise to include a table of contents. If you use Proposify as your proposal software, then every proposal will automatically have the table of contents on the left-hand side, making it easier for the potential client to click around and review important sections multiple times.

A lot goes into writing a proposal. Before you can get to the writing part, you need to prepare.

This means talking with the client to figure out their needs, using your experience to pitch the best project, and talking with colleagues who will be involved in the project to see if they agree on the services you plan to propose.

You might also need to talk with your legal department and ask them for a contract template that you can include at the end of the proposal so that when the client signs off, it's legally binding.

Everything you need to prepare to write a business proposal:

An understanding of the client's needs

Your determination of the best approach

Details that will get the client to say yes

Agreement with internal colleagues

The pricing options you want to offer

Knowledge of who needs to sign off

Legal contract language or templates

To be a good writer , you must be concise, specific, and detailed. It really is that simple. The more examples and details you provide, the better.

That said, it does help to follow a process so that you can be sure you’re providing everything that the decision-makers expect and more.

Here are the 7 essential steps for writing a business proposal:

Step 1. Determine the client’s needs

The first step is to figure out what your client needs.

As mentioned in our section on preparation above, you’ll need to speak with your client. If this is a new client, it might take two to five sales calls to collect all of the information you need. For an existing client, you can probably figure out what to include in their renewal proposal with just one call.

But of course, asking your client what they need isn’t enough. You need to use your expertise to choose the best solution for them, even if it’s not what they want or expect.

Step 2. Kick off your proposal with a template

Once you’ve done your due diligence, the next step is to choose a proposal template so you’ll save time on both writing and designing.

You can use a template that matches your specific business or click around to find one with all the sections and a design style you like. Even if it’s not created for your specific industry, it’ll be easy to update the content to match your service or product.

Check out our full library of proposal templates.

Step 3. Write the evergreen messaging about your company

It’s always smart to tackle writing section by section. This way, you don’t get overwhelmed.

We recommend starting with the sections that are relevant to your business and that can be reused again and again. Your value propositions should guide the content.

Tackle these sections:

The cover page

The approach section

The about us page and team bios

The social proof or portfolio pieces

By starting off with what makes your company special, you’ll break the ice during your writing process and also create your own custom template that you can use for further proposal writing.

Step 4. Craft the meat of the proposal (executive summary, approach, deliverables, etc.)

By now, you should have chosen a template and written your core company messaging.

Now it’s time to write the meat of the proposal.

In this step, you’ll be catering your proposal to the new client. A startup will require a different proposal than a small business, and the same goes for an enterprise.

Here are some of the things you might need to write:

The unique methodology or approach you’ll offer this client (if it changes per client)

The problem statement or executive summary

The client’s goals

The scope of work

The project process and timelines

The deliverables

You can fill in your template’s sections and take a peek at other templates to get inspiration and see if there are any additional sections or details you should add.

Step 5. Add in the project total or pricing options

Next, you should calculate your fees.

Depending on your business, you might add up flat rates, product costs, or hourly estimates to come up with a fixed project total. Or, you might present a price range that the project will likely fall between (making it clear that additional hourly costs could arise. Or perhaps, you’ll offer a pricing table with different options to choose from.

Step 6. Add legal terms and conditions and esignatures

When you use proposal software (instead of just a PDF or Google slides), you can add a contract directly to your proposal.

If you already have approved contract language from your legal department, you can simply add it to the contract section of your proposal in Proposify. If not, you’ll need to chat with your legal team or business lawyer to ensure you’re adding all the right stipulations.

Proposals with esignatures close 35% faster and are 426% more likely to be accepted. So be sure to assign an esignature both to yourself and your client.

Step 7. Finalize the design and review all of the content before sending

Now it’s time to review and finalize your proposal. Check for errors, places in the template you forgot to fill out, and wording that can be improved.

Make sure the graphic design is on point too. Switch out the template with your own brand colors and fonts. You can have a designer on your team handle this, or handle style customization yourself (with no design experience necessary).

The best way to write a business proposal? With a template of course.

We’ve rounded up 10 of the best templates for different types of businesses. And for each, we show you the proposal sections included to help you pick the right one for you.

Keep in mind that with any of these proposals, you can add and remove sections and also customize any page with text, headlines, images, videos, fee tables, and more.

1. Business consulting proposal template

This consulting proposal template can be used by any type of consulting firm.

Proposal sections :

Project Summary

Project Activities

Your Investment

2. Advertising Proposal Template

With this advertising proposal template, you can showcase your digital or traditional advertising services. The template includes TV, web, radio, and magazine, but you can update it to reflect your pitch.

Cover Letter

Who Are We?

Testimonials

Your Advertising Media Mix

3. Branding Proposal Template

Perfect for branding consultants, logo designers, and messaging strategists, this branding proposal template includes the project scope and timeline to help you clarify your process to potential clients.

Overview & Goals

Scope of Services

Sample Case Study

4. Commercial Lease Proposal Template

This commercial lease proposal template can be used for leasing office buildings, manufacturing facilities, warehouses, and event spaces.

Our Process

Meet Our Team

Terms and Conditions

5. Construction Bid Template

Use this construction bid template for new construction projects or renovations. It includes a detailed cost estimate table and a required deposit.

Cost Estimate

6. Catering Proposal Template

This catering proposal template is perfect for corporate projects but can work for weddings or personal events as well. You can use it for conferences, luncheons, retreats, or any other type of event.

Introduction

Event Details

7. Corporate Photography Proposal Template

With a beautifully designed portfolio section and a very detailed pricing table and print options, this is the perfect template for corporate photography . It also includes tips for success, so clients know how to make the most of their photoshoot time.

What We Offer

Photography Packages

Tips for Success

8. Financial Services Proposal Template

You can use this financial services proposal template to pitch financial services like risk management, budgeting, and investment management.

Services and Fees

Looking to kick up your proposals a notch?

Try one of these smart ideas:

1. Make your pricing dynamic

Dynamic pricing means that clients can choose what they want and that will automatically change the project total that they sign off on.

Proposals with options and add-ons have a 35.8% higher closing rate . Try giving package options and including add-ons such as ancillary services or maintenance work.

2. Create graphic designs for timelines and processes

Winning business proposals often include informative visuals to help clients understand your process at a glance.

You could create a graphic for project phases, milestones, or big deliverables.

3. Get creative with your social proof

Client testimonials are an easy starting point when it comes to social proof.

But can you do better? Can you get more creative and stand out from other consulting firms?

Here are some ways to improve your social proof game:

Include visuals for your average ratings (for example 4 and a half stars filled in).

Add any badges or graphics available from review sites like G2 and Trustpilot.

Film professional case study videos and embed them in your proposal.

Create a screenshare video where you talk through your digital portfolio samples.

Include an informal video testimonial from your client.

Add a video showing your team at work (ie, on the job site, running a workshop, speaking, etc.)

Write mini case studies with before and after transformations, result data, etc.

4. Have an “excludes” section

Is there something that is definitely not included in your proposal? Do clients often assume it’s included or do they get confused?

If so, try adding a section that describes everything that isn’t included in the proposal. You could mention that you don’t offer these services, or state that they’re available at an additional fee (if you want to upsell them).

5. Include videos for introductions or complex concepts

When you add a video to your proposal, you increase its chances of closing by 41% .

Here are some video ideas to try:

Informal intros filmed with Loom

Professional videos of your team at work

Case study videos

Quick descriptions of complex deliverables, methodologies, etc.

You sent the proposal. Now what?

Here’s what to do next.

Sign it yourself

Make sure you sign the proposal right away (before your client opens it). This offers a more professional presentation and makes it more likely that your new client will add their signature too.

Be prepared to follow up

Project proposals don’t always close all by themselves. As any good salesperson knows, follow-up is essential.

With Proposify, you can set up automated reminders. When we analyzed over 1 million proposals sent with our software, we found that proposals with pre-scheduled reminders have a 35% higher closing rate than those without.

Make adjustments to the proposal to close the deal

It’s okay to make changes. In fact, proposals that get revised are actually more likely to close than ones that don’t. When a client asks for revisions, it means they’re interested.

You might need to adjust your proposal document for its scope, deliverables, timeframe, or payment schedules.

Save different proposal templates

After you’ve created one proposal, you should save it as a template and give it a name. You might also want to duplicate it and adjust it to create a new proposal template. For example, if you offer SEO services , you might want to have one proposal for an SEO audit and another one for your monthly SEO retainer.

Create email templates

You can also create and store email templates that will save you time in the long run.

Try creating different templates for sending, reminders, and thank yous. If you offer different types of services, you can craft a unique sending template for each one.

Get feedback from clients on both won and lost proposals

One of the best ways to improve is to take feedback. Whether you win or lose the proposal, find out why.

Here are some tips on how to do this:

Won - When you win a proposal, you might ask the client why they decided to move forward with you on their first strategy call. Or, have their account manager ask the same question and pass the info to you.

Lost - If a client doesn’t sign the proposal after 3 weeks, you can send a quick email with something like, “Just looking for some feedback. Can you let me know why you decided not to move forward? Thanks.”

In today’s digital world, a business proposal should be more than a formal document.

When you use the right tool to create and send your proposal, you should be able to gather important insights and trends.

Viewing metrics for a specific client

With Proposify, you can see the activity for every proposal. Know when clients are opening and viewing proposals so you can follow up in a way that matches their activity.

Average viewing metrics

Proposify also offers average viewing metrics that help you benchmark your views:

Total viewed

Average time to view

Average length of viewing

Average views per proposal

This is great for gauging how a new client compares with past activity.

Average closing metrics

You can also check your average closing rate and track it over time.

Check these closing metrics:

Closing rate

Try setting goals for improving your closing rate and then check your progress each month.

Insights by proposal type

Segment viewing and closing metrics by workspace, client name, or stream. A stream is a custom category that you can use for different service types, client industries, etc.

Growth trends

And lastly, you can check your growth trends to find out how much you’re earning in new contracts and existing contracts. This is great for seeing your past revenue growth and for forecasting.

Trends include:

New won proposals (chart)

Active income (chart)

Start with a solid understanding of your client’s goals and needs. Use a template to save time creating messaging and tables that will seal the deal. Then, try advanced techniques like dynamic pricing and videos to improve your closing rates even further.

Sign up for Proposify free for 14 days or get started with one of our templates .

Dayana Mayfield is a B2B SaaS copywriter who believes in the power of content marketing and a good smoothie. She lives in Northern California. Connect with her on LinkedIn here: linkedin.com/in/dayanamayfield/

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What Is a Business Plan?

Understanding business plans, how to write a business plan, common elements of a business plan, how often should a business plan be updated, the bottom line, business plan: what it is, what's included, and how to write one.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

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A business plan is a document that details a company's goals and how it intends to achieve them. Business plans can be of benefit to both startups and well-established companies. For startups, a business plan can be essential for winning over potential lenders and investors. Established businesses can find one useful for staying on track and not losing sight of their goals. This article explains what an effective business plan needs to include and how to write one.

Key Takeaways

• A business plan is a document describing a company's business activities and how it plans to achieve its goals.
• Startup companies use business plans to get off the ground and attract outside investors.
• For established companies, a business plan can help keep the executive team focused on and working toward the company's short- and long-term objectives.
• There is no single format that a business plan must follow, but there are certain key elements that most companies will want to include.

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Any new business should have a business plan in place prior to beginning operations. In fact, banks and venture capital firms often want to see a business plan before they'll consider making a loan or providing capital to new businesses.

Even if a business isn't looking to raise additional money, a business plan can help it focus on its goals. A 2017 Harvard Business Review article reported that, "Entrepreneurs who write formal plans are 16% more likely to achieve viability than the otherwise identical nonplanning entrepreneurs."

Ideally, a business plan should be reviewed and updated periodically to reflect any goals that have been achieved or that may have changed. An established business that has decided to move in a new direction might create an entirely new business plan for itself.

There are numerous benefits to creating (and sticking to) a well-conceived business plan. These include being able to think through ideas before investing too much money in them and highlighting any potential obstacles to success. A company might also share its business plan with trusted outsiders to get their objective feedback. In addition, a business plan can help keep a company's executive team on the same page about strategic action items and priorities.

Business plans, even among competitors in the same industry, are rarely identical. However, they often have some of the same basic elements, as we describe below.

While it's a good idea to provide as much detail as necessary, it's also important that a business plan be concise enough to hold a reader's attention to the end.

While there are any number of templates that you can use to write a business plan, it's best to try to avoid producing a generic-looking one. Let your plan reflect the unique personality of your business.

Many business plans use some combination of the sections below, with varying levels of detail, depending on the company.

The length of a business plan can vary greatly from business to business. Regardless, it's best to fit the basic information into a 15- to 25-page document. Other crucial elements that take up a lot of space—such as applications for patents—can be referenced in the main document and attached as appendices.

These are some of the most common elements in many business plans:

• Executive summary: This section introduces the company and includes its mission statement along with relevant information about the company's leadership, employees, operations, and locations.
• Products and services: Here, the company should describe the products and services it offers or plans to introduce. That might include details on pricing, product lifespan, and unique benefits to the consumer. Other factors that could go into this section include production and manufacturing processes, any relevant patents the company may have, as well as proprietary technology . Information about research and development (R&D) can also be included here.
• Market analysis: A company needs to have a good handle on the current state of its industry and the existing competition. This section should explain where the company fits in, what types of customers it plans to target, and how easy or difficult it may be to take market share from incumbents.
• Marketing strategy: This section can describe how the company plans to attract and keep customers, including any anticipated advertising and marketing campaigns. It should also describe the distribution channel or channels it will use to get its products or services to consumers.
• Financial plans and projections: Established businesses can include financial statements, balance sheets, and other relevant financial information. New businesses can provide financial targets and estimates for the first few years. Your plan might also include any funding requests you're making.

The best business plans aren't generic ones created from easily accessed templates. A company should aim to entice readers with a plan that demonstrates its uniqueness and potential for success.

2 Types of Business Plans

Business plans can take many forms, but they are sometimes divided into two basic categories: traditional and lean startup. According to the U.S. Small Business Administration (SBA) , the traditional business plan is the more common of the two.

• Traditional business plans : These plans tend to be much longer than lean startup plans and contain considerably more detail. As a result they require more work on the part of the business, but they can also be more persuasive (and reassuring) to potential investors.
• Lean startup business plans : These use an abbreviated structure that highlights key elements. These business plans are short—as short as one page—and provide only the most basic detail. If a company wants to use this kind of plan, it should be prepared to provide more detail if an investor or a lender requests it.

Why Do Business Plans Fail?

A business plan is not a surefire recipe for success. The plan may have been unrealistic in its assumptions and projections to begin with. Markets and the overall economy might change in ways that couldn't have been foreseen. A competitor might introduce a revolutionary new product or service. All of this calls for building some flexibility into your plan, so you can pivot to a new course if needed.

How frequently a business plan needs to be revised will depend on the nature of the business. A well-established business might want to review its plan once a year and make changes if necessary. A new or fast-growing business in a fiercely competitive market might want to revise it more often, such as quarterly.

What Does a Lean Startup Business Plan Include?

The lean startup business plan is an option when a company prefers to give a quick explanation of its business. For example, a brand-new company may feel that it doesn't have a lot of information to provide yet.

Sections can include: a value proposition ; the company's major activities and advantages; resources such as staff, intellectual property, and capital; a list of partnerships; customer segments; and revenue sources.

A business plan can be useful to companies of all kinds. But as a company grows and the world around it changes, so too should its business plan. So don't think of your business plan as carved in granite but as a living document designed to evolve with your business.

Harvard Business Review. " Research: Writing a Business Plan Makes Your Startup More Likely to Succeed ."

U.S. Small Business Administration. " Write Your Business Plan ."

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Simple Business Plan Template (2024)

Updated: May 4, 2024, 4:37pm

Table of Contents

Why business plans are vital, get your free simple business plan template, how to write an effective business plan in 6 steps, frequently asked questions.

While taking many forms and serving many purposes, they all have one thing in common: business plans help you establish your goals and define the means for achieving them. Our simple business plan template covers everything you need to consider when launching a side gig, solo operation or small business. By following this step-by-step process, you might even uncover a few alternate routes to success.

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Whether you’re a first-time solopreneur or a seasoned business owner, the planning process challenges you to examine the costs and tasks involved in bringing a product or service to market. The process can also help you spot new income opportunities and hone in on the most profitable business models.

Though vital, business planning doesn’t have to be a chore. Business plans for lean startups and solopreneurs can simply outline the business concept, sales proposition, target customers and sketch out a plan of action to bring the product or service to market. However, if you’re seeking startup funding or partnership opportunities, you’ll need a write a business plan that details market research, operating costs and revenue forecasting. Whichever startup category you fall into, if you’re at square one, our simple business plan template will point you down the right path.

Copy our free simple business plan template so you can fill in the blanks as we explore each element of your business plan. Need help getting your ideas flowing? You’ll also find several startup scenario examples below.

Download free template as .docx

Whether you need a quick-launch overview or an in-depth plan for investors, any business plan should cover the six key elements outlined in our free template and explained below. The main difference in starting a small business versus an investor-funded business is the market research and operational and financial details needed to support the concept.

1. Your Mission or Vision

Start by declaring a “dream statement” for your business. You can call this your executive summary, vision statement or mission. Whatever the name, the first part of your business plan summarizes your idea by answering five questions. Keep it brief, such as an elevator pitch. You’ll expand these answers in the following sections of the simple business plan template.

• What does your business do? Are you selling products, services, information or a combination?
• Where does this happen? Will you conduct business online, in-store, via mobile means or in a specific location or environment?
• Who does your business benefit? Who is your target market and ideal customer for your concept?
• Why would potential customers care? What would make your ideal customers take notice of your business?
• How do your products and/or services outshine the competition? What would make your ideal customers choose you over a competitor?

These answers come easily if you have a solid concept for your business, but don’t worry if you get stuck. Use the rest of your plan template to brainstorm ideas and tactics. You’ll quickly find these answers and possibly new directions as you explore your ideas and options.

2. Offer and Value Proposition

This is where you detail your offer, such as selling products, providing services or both, and why anyone would care. That’s the value proposition. Specifically, you’ll expand on your answers to the first and fourth bullets from your mission/vision.

As you complete this section, you might find that exploring value propositions uncovers marketable business opportunities that you hadn’t yet considered. So spend some time brainstorming the possibilities in this section.

For example, a cottage baker startup specializing in gluten-free or keto-friendly products might be a value proposition that certain audiences care deeply about. Plus, you could expand on that value proposition by offering wedding and other special-occasion cakes that incorporate gluten-free, keto-friendly and traditional cake elements that all guests can enjoy.

3. Audience and Ideal Customer

Here is where you explore bullet point number three, who your business will benefit. Identifying your ideal customer and exploring a broader audience for your goods or services is essential in defining your sales and marketing strategies, plus it helps fine-tune what you offer.

There are many ways to research potential audiences, but a shortcut is to simply identify a problem that people have that your product or service can solve. If you start from the position of being a problem solver, it’s easy to define your audience and describe the wants and needs of your ideal customer for marketing efforts.

Using the cottage baker startup example, a problem people might have is finding fresh-baked gluten-free or keto-friendly sweets. Examining the wants and needs of these people might reveal a target audience that is health-conscious or possibly dealing with health issues and willing to spend more for hard-to-find items.

However, it’s essential to have a customer base that can support your business. You can be too specialized. For example, our baker startup can attract a broader audience and boost revenue by offering a wider selection of traditional baked goods alongside its gluten-free and keto-focused specialties.

4. Revenue Streams, Sales Channels and Marketing

Thanks to our internet-driven economy, startups have many revenue opportunities and can connect with target audiences through various channels. Revenue streams and sales channels also serve as marketing vehicles, so you can cover all three in this section.

Revenue Streams

Revenue streams are the many ways you can make money in your business. In your plan template, list how you’ll make money upon launch, plus include ideas for future expansion. The income possibilities just might surprise you.

For example, our cottage baker startup might consider these revenue streams:

• Product sales : Online, pop-up shops , wholesale and (future) in-store sales
• Affiliate income : Monetize blog and social media posts with affiliate links
• Advertising income : Reserve website space for advertising
• E-book sales : (future) Publish recipe e-books targeting gluten-free and keto-friendly dessert niches
• Video income : (future) Monetize a YouTube channel featuring how-to videos for the gluten-free and keto-friendly dessert niches
• Webinars and online classes : (future) Monetize coaching-style webinars and online classes covering specialty baking tips and techniques
• Members-only content : (future) Monetize a members-only section of the website for specialty content to complement webinars and online classes
• Franchise : (future) Monetize a specialty cottage bakery concept and sell to franchise entrepreneurs

Sales Channels

Sales channels put your revenue streams into action. This section also answers the “where will this happen” question in the second bullet of your vision.

The product sales channels for our cottage bakery example can include:

• Mobile point-of-sale (POS) : A mobile platform such as Shopify or Square POS for managing in-person sales at local farmers’ markets, fairs and festivals
• E-commerce platform : An online store such as Shopify, Square or WooCommerce for online retail sales and wholesale sales orders
• Social media channels : Facebook, Instagram and Pinterest shoppable posts and pins for online sales via social media channels
• Brick-and-mortar location : For in-store sales , once the business has grown to a point that it can support a physical location

Channels that support other income streams might include:

• Affiliate income : Blog section on the e-commerce website and affiliate partner accounts
• Advertising income : Reserved advertising spaces on the e-commerce website
• E-book sales : Amazon e-book sales via Amazon Kindle Direct Publishing
• Video income : YouTube channel with ad monetization
• Webinars and online classes : Online class and webinar platforms that support member accounts, recordings and playback
• Members-only content : Password-protected website content using membership apps such as MemberPress

Nowadays, the line between marketing and sales channels is blurred. Social media outlets, e-books, websites, blogs and videos serve as both marketing tools and income opportunities. Since most are free and those with advertising options are extremely economical, these are ideal marketing outlets for lean startups.

However, many businesses still find value in traditional advertising such as local radio, television, direct mail, newspapers and magazines. You can include these advertising costs in your simple business plan template to help build a marketing plan and budget.

5. Structure, Suppliers and Operations

This section of your simple business plan template explores how to structure and operate your business. Details include the type of business organization your startup will take, roles and responsibilities, supplier logistics and day-to-day operations. Also, include any certifications or permits needed to launch your enterprise in this section.

Our cottage baker example might use a structure and startup plan such as this:

• Business structure : Sole proprietorship with a “doing business as” (DBA) .
• Permits and certifications : County-issued food handling permit and state cottage food certification for home-based food production. Option, check into certified commercial kitchen rentals.
• Roles and responsibilities : Solopreneur, all roles and responsibilities with the owner.
• Supply chain : Bulk ingredients and food packaging via Sam’s Club, Costco, Amazon Prime with annual membership costs. Uline for shipping supplies; no membership needed.
• Day-to-day operations : Source ingredients and bake three days per week to fulfill local and online orders. Reserve time for specialty sales, wholesale partner orders and market events as needed. Ship online orders on alternating days. Update website and create marketing and affiliate blog posts on non-shipping days.

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6. Financial Forecasts

Your final task is to list forecasted business startup and ongoing costs and profit projections in your simple business plan template. Thanks to free business tools such as Square and free marketing on social media, lean startups can launch with few upfront costs. In many cases, cost of goods, shipping and packaging, business permits and printing for business cards are your only out-of-pocket expenses.

Cost Forecast

Our cottage baker’s forecasted lean startup costs might include:

Gross Profit Projections

This helps you determine the retail prices and sales volume required to keep your business running and, hopefully, earn income for yourself. Use product research to spot target retail prices for your goods, then subtract your cost of goods, such as hourly rate, raw goods and supplier costs. The total amount is your gross profit per item or service.

Here are some examples of projected gross profits for our cottage baker:

Bottom Line

Putting careful thought and detail in a business plan is always beneficial, but don’t get so bogged down in planning that you never hit the start button to launch your business . Also, remember that business plans aren’t set in stone. Markets, audiences and technologies change, and so will your goals and means of achieving them. Think of your business plan as a living document and regularly revisit, expand and restructure it as market opportunities and business growth demand.

Is there a template for a business plan?

You can copy our free business plan template and fill in the blanks or customize it in Google Docs, Microsoft Word or another word processing app. This free business plan template includes the six key elements that any entrepreneur needs to consider when launching a new business.

What does a simple business plan include?

A simple business plan is a one- to two-page overview covering six key elements that any budding entrepreneur needs to consider when launching a startup. These include your vision or mission, product or service offering, target audience, revenue streams and sales channels, structure and operations, and financial forecasts.

How can I create a free business plan template?

Start with our free business plan template that covers the six essential elements of a startup. Once downloaded, you can edit this document in Google Docs or another word processing app and add new sections or subsections to your plan template to meet your specific business plan needs.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Krista Fabregas is a seasoned eCommerce and online content pro sharing more than 20 years of hands-on know-how with those looking to launch and grow tech-forward businesses. Her expertise includes eCommerce startups and growth, SMB operations and logistics, website platforms, payment systems, side-gig and affiliate income, and multichannel marketing. Krista holds a bachelor's degree in English from The University of Texas at Austin and held senior positions at NASA, a Fortune 100 company, and several online startups.

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How to Write a Business Proposal in English – A Step by Step Guide

You have started a new business and you are growing too. But deep down you know that you could be doing better than this. Or your already established business is not making enough progress or sales which is why you are worried. There is a big chance that you can do better. Thus, why not. One of the best ways to grow your business is to target potential customers the right way. And that is where business proposals come into play. In the article below, we will tell you anything and everything about business proposals. In the end, you will learn what is a business proposal, its types and how to write a business proposal in English.

What is a Business Proposal?

A business proposal is a document that any company creates to persuade its clients or prospects to secure a business agreement. Besides, a business plan and a business proposal are the same things. With a business proposal, you sell your service or product to your potential clients and seek new clients meanwhile business plan helps you sell your business itself.

Types of Business Proposal

There are basically three types of business proposals.

• Formally Solicited
• Informally Solicited

Unsolicited Business Proposal

Formally Solicited Business Proposal

A formally solicited business proposal is composed when you as the business holder receives an official request from a prospective client. In this case, you will have enough information about the client which is why there is no need for extra research on your side. All you need to do is compose your business proposal according to the requirements and information you have.

Informally Solicited Business Proposal

An informally solicited business proposal is written when you as the business holder do not receive any official request from the prospective client. But you make the business proposal out of an informal conversation between you and your client. In this case, you need to do a lot more research at your end to better understand your client’s requirements.

The main difference between a solicited business proposal and an unsolicited business proposal is that the solicited business proposal is a response to a customer’s need or request. However, an unsolicited business proposal aims to advertise to potential clients.

What is the Purpose of a Business Proposal?

Mainly, a business proposal aims to help you target a potential client and sell your products or services. It also helps you to:

• Make realistic plans and projects for your business.
• Secure funding.
• Identify your strengths and weaknesses
• Get your business direction and structure.

A Business proposal should include:

Firstly, your business proposal should be able to answer the following questions:

• Who are you and what does your company do?
• What are the problems your clients may be facing?
• What are the solutions your company may offer them?
• And how your company will implement those solutions to help your client?
• What resources do you need to implement those solutions?

How to Write a Business Proposal

Before we start writing our proposal, we first need to do some research to thoroughly understand your client’s problems and their needs. If you are writing a solicited business proposal, you will, no doubt, have an official request which includes all the details about your client. Otherwise, you will have to give some time to do a handful of research about your client and their needs to be able to compose a good business proposal.

Once you have done your research and have all the necessary details, you can start writing your business proposal. Though there is not a one size fits all solution for a perfect business proposal, but here are some elements that every business proposal should have. So, let’s learn how to write a business proposal in English.

First, Write a Compelling Title Page

Your title page includes the basic information about you, your company, and your client. On your title page, you present a brief introduction of yourself and your business. Moreover, you include the date you have submitted the proposal to your client and your client’s name. Moreover, be sure to select a tone that you can follow up ahead in your proposal. You should try to select a solution-oriented, sleek, and professional tone for your title page.

Table of Contents

The main purpose of a table of content is to make it easier for the reader to navigate to different parts of your proposal easily. So, you need to make things easier for your clients on the other side of the proposal. Including a table of content in your business proposal will help your clients to easily understand the structure of your proposal and they can easily jump to different sections to read further.

Executive Summary

An executive summary is a way to tell your client why they should choose you and why the solutions that you offer to them are best for their problems.

It simply tells your reader how you can solve your client’s problems without them having to worry. Thus, after reading your executive summary, your client must get a clear view of why you are the best choice for them and their requirements – especially even if they do not read the entire proposal.

In a nut shell, your executive summary should be able to:

• Introduce you and your company well to your client.
• Give a brief overview of your company.
• Provide a full view of your company’s vision, milestones, and future goals.
• And tell them why they should choose you.

The Problem Statement

This section includes a brief overview of the problems your client is facing. The problems statement is one of the best ways to tell your client that you understand them and their requirements and there is no doubt that you are the best option for them.

To compose a powerful problem statement, you have to do some homework. First, you have to do thorough research about your prospective client and their issue. Then, you should look for the best solution to help your client. Lastly, write it down and present it in a way that will help you win the client.

The Solution You Offer

In this section, you offer your client your strategy to solve their problem. Like the previous section, here you have to thoroughly learn about the problem your client is facing and make sure that your solution is well customized according to your client’s needs.

Besides, it will also be useful if you tell your client which methods and strategies you are going to use to best solve their issues.

Qualifications

Here you will tell your client on what basis you are suitable for them and why they should trust you. You can include your expertise, projects you have completed, people and organizations you have worked with, success stories, and awards you have won.

The Timeline

With a timeline, you can divide the process into small sections and steps which will help your clients learn about your methods and strategies. Besides, a timeline is most useful in the case of a long project.

Pricing and Billing

In a business proposal, this one is a tricky section. Because you do not want to overprice or underprice your product or services. Thus, you have to come up with a suitable price. Besides, some proposal software includes responsive pricing sections or tables which helps customers check products and services they want and their prices come up automatically.

Terms and Conditions

In this section, you simply summarize anything and everything you have promised to offer and everything your clients will have to deliver in return. It includes the project timeline, pricing, payment method and schedule, and more. Since it outlines all the legal aspects of your project and the deal, it is a very important section. Therefore, we recommend you finalize this section only if all of your team agree with it.

The Acceptance

The final step to learn how to write a business proposal in English is acceptance. This is a small section where your prospective client has to sign only if he has read the entire business proposal and agrees with the services he offers.

Also, do not forget to add your contact information at the end so that your client can easily contact you.

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Business Plan Economic Analysis – Don’t Overlook It!

Every small business operates in a number of different economies ranging from their neighborhood to worldwide. The health of these economies has a huge impact on the health of small businesses.

A business plan economic analysis should paint a picture of the economic environment your business will operate in. With many economic indicators, you can delve into further detail. Referencing information specific to small businesses in your state and industry helps to provide an even clearer context.

No, these indicators might not always paint a rosy picture. What they will do, however, is show that you’ve done your homework. That you, as an entrepreneur, understand your environment. You’ll show that you can plan around the threats you face and capitalize on the opportunities.

What to look for in a business plan economic analysis

Small business employer firms, proprietors’ income, small business job creation, business births vs. deaths, small business loan supply and demand, business lending.

• Small Business Loan Approval Rate

Loan Charge-Off and Delinquency Rates

If you were so inclined, you could probably draw a correlation between any economic indicator and the health of your small business.

Depending on your industry, the particular economic indicators that affect your small business will vary. Whether you’re retail, manufacturing, goods, or services will make a difference.

Inspiration for these indicators was taken from the Small Business Economic Bulletin . This document is published by the U.S. Small Business Administration. Supposedly on a quarterly basis. Though, the Bulletin linked above is the most recent one I could find. It’s over six months old as of this writing.

Anyhow, I’ll work with what I’ve got. The Bulletin is a jumping-off point for the agencies that compile these statistics. I’ve covered some of these agencies before .

For each indicator addressed in the Bulletin, I’ll discuss what it measures, why (I think) it matters, and how to use the information. In the end, I’ll also touch on what (if anything) each indicator might mean for my startup .

These data are just a jumping-off point. You’ll have to dig into it further to determine what it means for your business.

This indicator measures the number of small businesses that employ people.

It is derived from data maintained by the BLS. Specifically, a database named Business Employment Dynamics (BDM) .

Small business, for the purpose of this indicator, includes businesses with less than 500 employees. I think that includes a lot of businesses that would qualify as “mid-sized.” But, that’s just me.

An uptrend in the number of Small Business Employer Firms implies that the environment is ripe for small businesses to launch. A decline would imply the opposite.

Where possible, I always recommend digging down into regional or state information. Doing the same thing by industry is smart too. That way you get the most relevant economic statistics for your business.

In the BDM database, the best way I found to do this is by using the Multi-Screen option for data retrieval.

You’ll notice two pairs of similar phrases if you browse the BDM. These phrases are Openings / Closings and Births / Deaths . So, what’s the distinction? I sent an email to the SBA and a tweet to the BLS.

The BLS responded quickly with a link to this page . The language is a little hard to understand. However, I think that the main difference is that Openings / Closings can include seasonal businesses. Births/Deaths are considered permanent.

The SBA, predictably, didn’t respond.

It’s my guess that this indicator is a tally of Births/Deaths. Which makes sense. Including seasonal businesses in the tally would increase its volatility. Probably better to count businesses that permanently open and close.

This is the aggregate amount of income earned by the owners of small businesses.

Specifically, sole proprietorships, partnerships, and tax-exempt co-ops. Dividends aren’t included in this indicator. Neither is rental income (i.e. by a landlord).

Most businesses start off as a sole proprietorship ( Source ). Businesses that don’t pay the proprietor enough income – die. A healthy small business environment should translate into healthy growth in Proprietors’ Income .

What if Proprietors’ Income is flat (or declining), but Employer Firms are growing? That might imply that more firms (proprietors) are fighting over shrinking pieces of the pie. If this is happening in your industry, beware.

The best way I found to drill down is to look at the most current release of Personal Income by State . From there, you want to go to the Interactive Tables . Specifically, you want tables SQINC4 and SQINC5 for quarterly information. SAINC4 and SAINC5 for annual information.

Clicking on either of those should guide you to what you need. Remember, you can use Ctrl to select multiple options!

Job creation is a sign of growth. As customers demand more, help is needed to meet that demand.

It might come in the form of direct labor or administrative help.

Your small business may or may not follow suit. What this indicator tells us, though, is whether there is a net gain in small business jobs or not. If there is, that could be considered a tailwind. Not something that is going to guarantee success. But, not something you’re going to have to fight against either.

Here’s the flip side of that “good news” though. If small businesses (and the big boys) keep adding jobs, quarter after quarter, eventually you could reach a point where demand exceeds supply. The cost of labor goes up and (potentially) the quality goes down. For you, your suppliers, and maybe your customers.

Like Small Business Employment Firms , this indicator refers to the BDM database. Again, I suggest using the Multi-Screen Data Search to navigate it.

You can drill down by state if you choose to look at all industries and all sizes. However, some industry-specific searches can drill down by state too. I imagine it’s the bigger industries that allow for such a drill-down.

This indicator ties in directly with the Small Business Employer Firms . More Births than Deaths mean that the number of Employer Firms goes up. More Deaths than Births – down.

Once again, we refer to the BDM database. Breaking information down this way allows you to see how much of pull Births and/or Deaths are having on the number of Small Business Employer Firms . For example, is the number increasing because of more Births ? Or, because of fewer Deaths?

This is just further insight into the small business environment. It might be able to provide some clue as to how ripe it is for success.

When researching Establishment Births & Deaths you can isolate by industry. But, you’ll only get totals for the whole U.S. Conversely, when looking at all industries, you can narrow down by state.

This indicator measures the percentage of bankers that answered two questions in the affirmative or negative. The first question asks if banks have tightened or eased their standards on small business lending. The second question asks if the demand for small business loans has increased.

Now we shift gears a little. Away from small business employment, openings, closings, births, and deaths. The focus of the following four indicators is small business borrowing.

This indicator seems to be rather subjective. It comes from a quarterly publication by the Federal Reserve. This publication is called the Senior Loan Office Opinion Survey (SLOOS) on Bank Lending Practices .

Not a terribly objective measurement. More of “getting a feel for the room” statistic. It is just a survey, after all.

Beyond those two questions, though, there is a lot more in the SLOOS that measures bankers’ attitudes toward small business lending. Questions related to terms, collateral, covenants, and much more.

The lines on the chart seem to oscillate around 0. A negative would mean that the banker felt the opposite of what is being charted, I suppose. For example, a negative Banks Tightening figure means that more bankers answered that they were easing standards. A negative Reporting Stronger Demand line would mean that demand was weaker.

Anyhow, this indicator might provide insight into how many small businesses are seeking to employ financial leverage . Those insights can be compared with the indicators measuring expansion and contraction. If the small business environment seems ripe, but few are willing to leverage in this environment, then maybe the optimism about the future is shaky.

Don’t forget to check out the accompanying tables for a more quantifiable view of the data.

No industry or state-specific information seems to be available for this indicator.

This indicator compares small business loan volume to that of big business.

The Federal Deposit Insurance Corporation (FDIC) Quarterly Banking Profile is the source of this information.

Commercial and industrial loans to small businesses are measured. As are real estate loans under $1 million.

Like the Small Business Loan Supply and Demand indicator, I think this is indicative of small business owner optimism. If small business owners feel like the environment is good for investment, they are more likely to borrow. If they don’t feel like they can earn an adequate return for the risk, they will likely limit their exposure.

It’s wise to look at small business lending in several different ways. One indicator might tell you one thing. Another indicator – something else. When you get conflicting (credible) information you should investigate. You’ll hopefully come out the other end a shrewder businessperson.

Small Business Loan Approval Rates

This indicator provides valuable information two-fold. First, it gives you an idea of what the odds are of getting approved for a small business loan. Second, it breaks the approval rates down by the type of financial institution.

Granted, you don’t know the quality of the applicants measured by this indicator. That is something that would help to put this information into perspective. Are they startups or existing businesses? Maybe they aren’t adapting appropriately to changes in cash flow .

Big banks, small banks, credit unions, and alternative sources are measured. This might provide some insight as to where to go if your small business needs financing.

Unlike the other indicators, this one is more of a snapshot. Historical information is displayed. But only for the same month three and six years ago. It is not presented as a time series.

This gives you an idea of how well to prepare and where to focus your efforts when you need financing. If lenders are becoming more discerning, then you know that you’ll need to create a better business plan .

What you see in the Bulletin is pretty much all there is in the report itself. No state, industry, or size breakdown is provided.

This indicator gives you an idea of how effectively other businesses are employing their leverage.

Access the tables behind this indicator here.

Granted, it really only points out what percentage of businesses are doing poorly. It doesn’t say much about the upside. Only the downside.

The description of the report doesn’t outline exactly how the terms are defined.

My interpretation is that Delinquency means that one or more payments are late. Maybe even only by one day.

Charge-Off likely means that the bank has written off the loan against their reserves. They feel that payment for the remaining balance is extremely unlikely.

This serves as a lagging indicator for some of the others. I think the indicator it ties to best is Business Lending . If Business Lending is increasing, but Delinquency is level, we can assume that businesses are finding a good use for the borrowed money.

No state, size, or industry-specific information is available.

Business plan economic analysis for my startup

I don’t know if I’ll finance my startup with debt or equity. Therefore, I don’t know if the lending indicators are relevant to my business plan. If I plan on using debt financing, I can circle back and scrutinize the relevant indicators.

Right now, I don’t plan on hiring any employees. So the Small Business Job Creation indicator isn’t currently relevant either.

Of the remaining three indicators, two are somewhat redundant – Small Business Employer Firms and Business Births vs. Deaths .

I feel like the Business Births vs. Deaths indicator gives a little more insight. Let’s look at what it shows for my industry – Wholesale trade .

Not terribly encouraging. In 2014, Births fell below Deaths and seemed to stay there. This suggests, possibly, consolidation in the industry. Big, strong firms forcing out smaller, weaker ones.

What about Proprietors’ Income ?

More encouraging. Proprietors’ Income has risen sharply in my state since Q1 of 2016. Despite the title, the table doesn’t have a NAICS breakdown. But it doesn’t.

So, I don’t know the whole story. If this rise took place in my industry, I could assume that there’s plenty of money to be made. It’s just going to fewer hands. This means that I had better have a sound plan for success.

What other indicators should I have included in my business plan economic analysis?

Which indicators are important for your business plan economic analysis?

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How to Write a Business Proposal – 28 Examples | Visme

Written by: Olujinmi Oluwatoni

Writing a business proposal that wins clients over is tough work. It gets even tougher when you're competing against multiple vendors for the same contract. According to a recent report by Loopio , teams on average win only 44% of their Request for Proposals (RFPs)

Here’s the silver lining. You can increase your win rate with a standout business proposal that not only grabs the client's attention but properly articulates your value proposition, unique strengths and capabilities.

However, creating a professional business proposal from scratch can be challenging, especially if you lack the necessary skills and tools.

To assist you, we’ve put together 28 business proposal templates to help you write one and increase your chances of success.

Here’s a short selection of 8 easy-to-edit business proposal templates you can edit, share, and download with Visme. View more templates below:

Table of Contents

• What is a Business Proposal?

28 Business Proposal Templates to Impress Clients

• A business proposal is a document crafted to convince potential clients, investors, or partners to take a particular action, such as purchasing a product or service, investing in a project or forming a partnership.
• Visme's template library offers a diverse selection of templates covering service, product, investment, partnership, consulting, project and bid proposals. These proposal templates are easily customizable with Visme’s user-friendly drag-and-drop editor.
• Visme also offers an array of features for creating impressive and unique business proposals, including team collaboration, online sharing, AI-powered image and text tools, custom branding, analytics, data visualizations, animation and interactivity.
• With Visme’s intuitive editor, you can seamlessly customize these templates. Tap into built-in features like hundreds of free fonts, millions of free images, vector icons, data tools, animations and more to whip up the perfect proposal design in minutes.

What Is a Business Proposal?

A business proposal is a document designed to persuade a prospective client, investor, or partner to take a specific action—whether it is buying a product or service, investing in a project, or entering into a partnership.

To craft a compelling proposal, you need to grasp the client's needs, present your solution, outline your strategy and demonstrate why you or your team are the best choice to address the problem.

Visme’s extensive array of proposal templates, combined with an intuitive editor and advanced tools, streamlines the process of creating a professional business proposal.

Hear what one of our customers has to say about Visme:

“Visme is something that I would highly recommend. It made us look a lot better in our clients’ eyes because it's something that's visually effective as a marketing tool.”

"With Visme, instead of days, a page would take us anywhere from 4-8 hours on a duplicate or templated process and even up to 72 hours for projects with unique needs and with immense input and back and forth on the design process.”

Brad Wills, Sourcing Executive at IBM's Recruitment Processing Outsourcing (RPO)! Read the full case study .

Check out these 28 business proposals professionally designed for almost every kind of business.

Service Proposal Templates

Product proposal templates, partnership proposal templates, investment proposal templates, consulting proposal templates, project proposal templates, bid proposal templates, 1. it service one-pager proposal template.

Looking for a quick and concise way to communicate the value and specifics of your IT service offering to potential clients or stakeholders? This service proposal template is your sure bet.

The minimalist design gives the plan a modern look and creates a powerful visual impact. Leverage the space to detail your executive summary , description of services, scope of work and lots more.

And if you’re tight on time, you can rely on Visme's AI document generator for instant proposal creation. Simply input your prompt, provide context, choose your preferred design and witness the tool swiftly generate your initial draft within seconds.

Check out how the AI document generator tool works here.

2. Marketing Agency Proposal Template

This comprehensive template is your ultimate tool to pitch your marketing agency's services and secure deals effortlessly.

Its sleek design, captivating visuals and icons ensure an attractive presentation. You can easily spotlight the problems you’ll address, solutions, project roadmap, services, the team, client testimonials and more.

Your brand identity conveys professionalism and makes your proposal more memorable to potential clients. To showcase your brand identity, ensure your proposal is branded using Visme's brand wizard . Simply input your web URL to automatically incorporate design elements from your website and access personalized, branded templates.

3. Clinical Laboratory Services

This template offers a framework to showcase your clinical services expertise and present your unique value proposition with clarity. The template offers dedicated sections for services, product breakdowns, certifications, locations and more.

Against a white backdrop, various shades of blue harmoniously blend to symbolize the beauty of healthcare and increase your proposal’s aesthetic appeal. The template also features captivating visuals, icons and an engaging layout.

Convert your product proposal into an engaging page-turner using Visme's flipbook effect . This allows your audience to virtually flip through pages, mimicking a real document experience.

4. Online Grocery Delivery Proposal Template

Seeking investment or partnerships for your groundbreaking online grocery delivery service? This online delivery service proposal template is your silver bullet.

The striking blend of lemon, blue and white gives it a great visual appeal. Each page also boasts engaging culinary visuals, icons and a refined layout that complements the content.

With detailed market analysis, innovative strategies and detailed financial projections, this template helps you present a compelling case. The best part is that the template design is fully customizable to suit any product or brand.

With our interactive features like hover effects or clickable pop-ups, you can provide more information, such as technical details or testimonials, without overwhelming the reader.

5. Consumer Product One Pager Proposal

Utilize this concise yet impactful one pager proposal to secure funding for your consumer product venture. This template allows you to distill your product's essence, market potential and competitive edge into a compelling one-page format.

It features captivating visuals, icons and harmonious color combinations, delivering a compelling presentation.

Personalize the template with your text, images, brand elements and more. You can streamline editing using Visme's dynamic fields , which eliminate the need to manually enter key information when customizing it for other clients.

Just create custom fields like company name, address, contact details and other information and automatically fill in the relevant fields with a single click.

6. Mobile Game Development Proposal Template

Looking for a way to capture potential clients' attention and secure software development projects? Start with this mobile game development proposal template. Its vibrant purple, orange and white scheme, complemented by compelling visuals and bold icons ensures your proposal stands out.

The template features sections to emphasize critical elements like introductions, overviews, goals, why to choose your services, action plans and more.

You can add more pages and customize the visuals, icons and layout to suit your brand’s needs.

7. 3D Modeling Software Proposal Template

Make a bold impression on your prospective software clients with this innovative proposal template.

The proposal boasts a captivating cover page, vibrant colors and stunning 3D visuals. It's structured with sections covering company overview, problem analysis, proposed solutions, delivery timelines and more.

Struggling with what to write in different sections? Leverage Visme’s AI writer for your initial draft. Simply provide instructions and the tool will generate well-written content matching your desired style and tone. Additionally, you can use this AI to refine, summarize, or edit your content effortlessly.

8. Jet Skis Proposal Template

Present your physical products to potential clients or investors effortlessly with this stylish proposal template.

This template comes with high-resolution stock photos, appealing vector icons and data widgets. It includes sections highlighting the advantages of your service, an overview of available models, pricing options and testimonials from satisfied customers.

Although this template was designed for water sports products, it can be customized for any brand or product.

If you want to change the visuals, explore Visme's extensive library of premium stock photos to find what suits your needs.

Learn more about how to create a product proposal in this complete guide .

9. Finance Consultancy Partnership Proposal Template

If you’re in search of a finance consultancy partnership proposal template that's straightforward and professional, then this proposal fits the bill. It features a clean, authoritative design using a white and green color palette.

All sections are neatly organized to present your firm's background, partnership model, client benefits, partner responsibilities and more. Leverage Visme analytics to track how your proposal is performing. You can easily monitor engagement metrics such as unique visits, average viewing time, duration, IP addresses and other analytics.

10. Lifestyle Brand Collaboration Proposal

Create impactful collaborations to elevate your lifestyle brand with this exquisite proposal. Its vibrant colors, dynamic layout and striking visuals make it iconic. The template provides a clear structure to showcase your brand's mission, project scope, responsibilities, terms and more.

Utilize Visme's intuitive editor to effortlessly customize colors, fonts and other elements of this template to fit your brand identity.

11. Payment App Brand Collaboration

Attract potential partners to your software brand using this well-structured collaboration proposal template. Each page employs a logical hierarchy in typefaces, fonts and elements to ensure an engaging reading experience.

You can highlight crucial aspects such as project objectives, payment app features, statistics and more with meticulous detail.

Visme’s data visualization tool will provide a clear and detailed presentation of statistics and figures in this proposal. You can access an extensive array of charts, graphs, maps, widgets and more from Visme’s library.

12. Non-profit Brand Collaboration

If you’re eager to team up with impactful organizations and expand your brand's reach while making a difference, this template is your blueprint.

With a sleek and modern design, a soothing color palette and exciting visuals, it’s sure to attract the reader's attention.

This template encompasses all essential sections to showcase your offerings, including a summary, project overview, plan, co-branding prospects, benefits, terms and beyond.

To get feedback about your proposal from coworkers quickly, you can invite them to your Visme project using Visme’s collaborative features . The workflow management tool also allows you to assign roles, establish deadlines and streamline approval processes effortlessly—all in one place.

Read this guide to learn more about how to create an effective partnership proposal.

13. Restaurant Investment Proposal

Attract prospective investors and secure funding for your culinary venture using this sophisticated investment proposal template.

Its combination of vibrant color schemes, icons and captivating images creates an impression of a refined restaurant.

Utilize its various sections to highlight your executive summary, target audience, competitive edge, business model, financial projections, SWOT analysis and other crucial details.

The template also incorporates charts to depict your target audience and financial projections. Visme enables you to seamlessly link real-time data from 3rd-party apps like Excel or Google Sheets and import tables, charts and graphs into your projects.

14. Project Investment Proposal

Showcase your project's potential to investors with this sleek investment template. Its elegant design incorporates a striking blend of black and yellow, exuding professionalism.

The template includes sections such as executive summary, project goal, target community, use of funds, assessments and more.

Customize this template by using images or videos to showcase your prior projects. This visual showcase will offer investors a glimpse of your work, significantly increasing your chances of winning.

15. Prime Real Estate Investment Proposal

Position your company as a trusted business for real estate investments with this stunning template. The layout, colors and captivating real estate imagery create a compelling visual narrative.

The template captures everything you need to show investors that you’ve done your homework. It includes an executive summary, overview, gallery, risk assessment, investment rationale and more. You can also include video testimonials of prior clients to gain potential investors’ confidence.

Each page of this document can be easily customized using Visme's user-friendly drag-and-drop editor.

16. Startup Investment Proposal

Starting a business? Utilize this startup investment proposal to highlight your idea's potential and leave a lasting impact on investors. The distinctive color scheme of yellow, white and navy blue blends to evoke a sense of innovation.

It includes clear sections to highlight your executive summary, market analysis, competitive advantage, business model and more.

In addition to your proposal, you can use Visme’s presenter studio to record your elevator pitch and share it with potential investors. This adds a personal touch and helps you engage busy executives.

17. Business Consulting Proposal

Win client's trust to hire your consulting services with this cutting-edge template proposal.

This design boasts a sleek color scheme of grays and blacks contrasted with a pristine white background, ensuring an attention-grabbing visual. It encompasses all crucial aspects, from an executive summary to project timelines, pricing models and compelling testimonials, to effectively showcase your expertise to potential clients.

You can link the icons, objects or text to a website or document for seamless navigation and engagement using interactive links.

18. IT Consulting Proposal

Craft a compelling pitch for your IT consulting service with this detailed consulting proposal template. It provides a structured framework to articulate your goals, expertise, services, recommendations and project details effectively.

Packed with captivating visuals, refined fonts, modern design elements and versatile layouts, this template ensures your proposal shines among competitors.

Personalize it to match your company's processes by incorporating text, applying your branding and expanding or adapting sections as needed.

19. Social Media Consulting Proposal

Whether you're an established social media agency or a freelancer looking to land your next big client, use this template to confidently pitch your social media consulting services.

With its sophisticated mix of blue and white hues, complemented by well-organized layouts and interactive icons, this template adds a touch of elegance to your presentation.

It covers crucial areas such as market analysis, personalized strategies, content planning and measurable objectives to craft a persuasive argument.

Make this template yours by swapping out the placeholder text and adjusting the visual elements until you're satisfied with the look and feel.

20. Marketing Consulting Proposal

Secure lucrative marketing projects confidently with this modern consultant proposal template. Its contemporary layout, crisp imagery and fusion of vibrant color themes project a high level of professionalism.

This template provides comprehensive coverage for essential aspects like the executive summary, "why choose us" section, project scope, deliverables, timeline, budget and more.

Lacking visuals for your projects? Utilize Visme's AI image generator to create relevant, high-quality, original images that breathe life into your design. Simply type in your prompts to generate professional-grade photos, paintings, pencil drawings, 3D graphics, icons, abstract art and more in seconds.

21. Web Development Proposal Template

You’ll require a standout proposal to win clients in a highly competitive web development industry. This sleek proposal can be your game-changer.

With an exquisite design layout, vector icons and a vibrant color scheme blending yellow, blue and white, this proposal immediately captures attention. The sections within cover the project overview, portfolio, website structure, timeline, budget breakdowns and more.

If you need to enhance your existing images and give them a professional look, you can utilize our AI Image Edit Tools within the Visme editor. The wizard allows you to remove backgrounds, unblur, or enlarge small images for optimal presentation.

22. Roofing Proposal

Whether you're a seasoned roofing contractor or a startup, this template will equip you to stand out and secure your roofing projects effectively.

The template utilizes a minimalist design with well-organized sections, ensuring your proposal looks both professional and visually appealing. Key sections such as project scope, materials, timelines, safety protocols and cost breakdowns lets you showcase your expertise and reliability.

Personalize the template by substituting the placeholder text and fine-tuning the visual elements until it suits your needs.

23. Construction Proposal

Utilize this refined template to leave a lasting impact and win your upcoming construction or renovation projects. Its blue, yellow and white color scheme radiates professionalism, while its captivating visuals and elegant layout effortlessly highlight your content.

The template features sections such as project scope, timeline, materials, costs and service specifics which underscore your expertise and dedication to top-notch work.

Share and download this proposal in various formats—PDF, PNG, JPG and GIF—or generate a link to share it with the client.

24. Architectural Proposal

Seal prestigious architectural deals confidently with this sleek architectural proposal template.

The template boasts high-resolution graphics, smart design elements, and engaging fonts. It includes sections for project goals, milestones, budgets and ample architectural images that add visual appeal.

Customize this template using Visme's built-in design assets or upload your own. You can use the shortcut feature for quick access to design elements on Visme. Simply type '/' to search and locate what you need in seconds.

25. Bid Proposal

If you would like to craft a winning bid proposal and enhance your business opportunities, this professional proposal template is perfect.

This template stands out with its captivating design layout, refined color scheme, and an impressive selection of fonts, icons, and images. It features a formal letter, budget breakdown and project commencement and completion terms.

What sets this template apart is its adaptability to suit any industry. Every aspect of this template is also customizable, allowing you to modify content, colors, fonts, shapes and logos to align perfectly with your brand identity.

26. Lawn Care Proposal

Communicate your expertise and dedication to impeccable lawn care with this stunning lawn care bid proposal.

This expertly crafted template boasts a captivating cover page and is filled with captivating fonts, high-definition images of lush greenery and dynamic vector icons.

You can customize every aspect of this template effortlessly. If you want to switch up the images, Visme offers an extensive array of top-notch images and design elements, from 3D icons and shapes to animated graphics, ensuring your proposal stands out vibrantly.

27. Fintech Agency Bid Proposal

Whether your agency specializes in digital banking, blockchain, payments, or other fintech solutions, this template equips you to stand out in competitive bids.

With a striking color palette of black, lemon and white, this template achieves a great balance—bold enough to captivate attention yet professional enough to exude credibility.

You can leverage the sections to highlight your firm's background, methodologies, budget and delivery aspects. The project timeline page is also particularly beneficial to provide clients with a clear glimpse of the project's completion date.

You can seamlessly integrate videos of client testimonials, your services, or a compelling brand narrative, enhancing your proposal's impact.

28. Marketing Campaign Bid Proposal Template

Looking to create a captivating bid proposal for marketing services? This template fits the bill.

The template boasts a lively color palette blending violet and white, setting the stage for a professional presentation.

It includes a succinct summary of your response to the RFP, featuring the challenge and proposed solutions, a compelling "why choose us" section and the estimated budget.

To further elevate engagement, Visme’s interactive features allow for linking specific sections to pricing pages, product page or terms and conditions. You can also employ hover effects or popups to reveal supplementary company information, enhancing the viewer's experience.

Read this article to discover professional bid proposal templates to win new clients.

Business Proposal FAQs

Q. what is the difference between a business proposal and a business plan.

A business proposal is a document crafted to persuade a prospective client to choose a company for a particular task or project. It outlines the specific project or service, pricing, deliverables and the value the company can provide.

On the other hand, a business plan is a comprehensive document that serves as a roadmap for an organization's future, guiding decision-making and operations. It outlines the company's objectives, strategies, market analysis, financial projections and operational details.

Unlike a business plan, which is internally focused, a business proposal is tailored externally to win a specific opportunity or contract.

Q. How Many Pages Should a Business Proposal Be?

Generally, a business proposal can range from 1 to 20 pages. However, there's no strict rule on length. The length of a business proposal can vary based on the specific requirements of the project or the expectations of the recipient.

Shorter proposals (one to five pages) are suitable for simpler projects or when the recipient specifies a brief document. More complex projects might require longer proposals with detailed sections on various aspects like methodology, timelines, pricing and terms.

Q. What Is the Basic Format for a Business Proposal?

A typical business proposal usually follows this basic format:

• Cover Page: This page includes your proposal title, company name, submission date and contact information.
• Executive Summary: Your executive summary section gives a brief overview of the proposal, highlighting the key points, objectives and why the proposal should be considered.
• Introduction: This section introduces the company and its background.
• Problem Statement or Needs Assessment: This section describes the client's issue or need that the proposal aims to address. This section clarifies the problem and its significance.
• Proposed Solution or Methodology: Utilize this section to highlight the company's approach to solving the client's problem. You can detail the services, products, or methodologies offered.
• Timeline or Work Plan: Your timeline section should present a schedule or timeline of how the proposed solution will be implemented, including milestones and deadlines.
• Budget or Cost Proposal: Provide a breakdown of the costs associated with the proposed solution, including fees, expenses and payment terms in this section.
• Company Expertise, Experience and Accolades: Give a compelling overview of the company's expertise, experience, relevant projects and qualifications that make it suitable for the project in this section.
• Conclusion/Next Steps: Summarize the key points and reinforce the benefits of choosing your company. Then end with a clear call to action.

Q. What Are the 3Cs of a Business Proposal?

The 3 C's of a business proposal are clarity, compelling and competitiveness. Let's take a brief look at each component:

Your business proposal should be clear and easy to understand. It should articulate the problem, proposed solution, methodology and terms in a straightforward manner. You should also avoid buzzwords and stick to languages and examples that resonate with the client.

Your proposal should be engaging, well-structured and crafted in a way that maintains interest throughout. It should incorporate visuals like images, icons, graphs or charts to complement the text and make the proposal visually appealing. You can also use storytelling techniques to illustrate the problem, the solution and the positive impact your proposal will have.

Competitive

Your proposal needs to be persuasive. It should convince the recipient that your company's solution is the best fit for their needs. This involves showcasing expertise, providing evidence of past successes and demonstrating the unique value your company brings.

Q. How Do I Write My Business Proposal?

Here are some steps to help you write an effective business proposal:

• Understand who your audience is and what their needs are
• Design a compelling cover page, title page and table of contents
• Write your executive summary
• Clearly define the client's problem or needs.
• Propose a solution (product, features and benefits)
• Showcase your company's background, team expertise, experience and qualifications.
• List deliverables, milestones, and timelines
• Provide a detailed budget and payment structure
• Include quotes from satisfied clients or references and evidence of your track record
• Write a conclusion and appendix

Visme's proposal templates come with pre-made sections to make the proposal creation process easier and more efficient. With our intuitive editor, you can customize these sections, add or remove sections as needed to fit your specific needs.

Q. What Are 5 Things All Proposals Should Include?

The five key elements every proposal should include are:

• Project background and objectives
• Problem statement
• Project scope and plan
• Timeline and budget
• Conclusion and next steps

Q. What Are the Do’s and Don'ts of Proposal Writing?

When it comes to proposal writing, there are some do’s and don'ts to keep in mind to ensure that your proposal stands out and increases your chances of success.

• Understand the client's needs and tailor your proposal accordingly. Start with a catchy and attention-grabbing introduction.
• Clearly articulate your value proposition, unique strengths and capabilities.
• Use visuals and graphics to make your proposal more engaging and memorable.
• Include testimonials or case studies to demonstrate your track record.
• Provide a detailed and realistic project plan, timeline, and budget.
• Proofread and edit your proposal thoroughly before submitting it.
• Don't use a generic proposal template without customizing it to the client's needs.
• Don't overpromise or exaggerate your capabilities.
• Don't use jargon or technical terms that may confuse the client.
• Don't submit a proposal that is too long or too short.
• Don't forget to follow up with the client after submitting the proposal.

Q. Which Phrases Are Best Avoided in a Proposal?

• "I think," "I'm not sure," "I believe," and similar phrases can seem hesitant and unconfident. Instead, state your ideas and arguments with conviction.
• "The best," "the greatest," or "the top-ranked"—empty"superlatives like this can come across as exaggerated and lacking credibility.
• "This might be a stupid question, but..."—never apologize for asking a question or suggesting an idea. It's important to demonstrate confidence in your abilities and ideas.
• Jargon or technical language that the client may not understand; keep in mind that the proposal may be read by individuals who are not familiar with your industry or field. Use plain language and avoid technical terms that may be confusing.
• "Trust me"—this phrase can sound condescending and unprofessional. Instead, provide evidence and data to support your arguments and proposals.
• "Our competitors are terrible." Avoid speaking negatively about your competitors. Rather, focus on highlighting your own strengths and unique selling points.

Create Professionally Engaging Proposals & More with Visme

An engaging and professionally crafted proposal increases your likelihood of closing deals or securing business partnerships.

With Visme’s proposal maker , creating an impactful proposal can be a walk in the park. It offers professional templates and robust editing tools designed for various proposal needs.

Moreover, Visme provides features like real-time collaboration, interactive data visualizations, online sharing, AI tools, analytics and graphics, elevating your proposal to new heights.

Sign up for Visme today to start creating winning proposals.

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Category: Business

Expressing likelihood

In the first lesson, students learn language to express likelihood. In the second lesson, they practise the target language while talking about a topic of interest.

Talking about money and finances

Throughout the set students get the chance to use vocabulary related to money and finance in various discussions.

All for one and one for all

With this lesson, students engage in the exploration of teamwork. They discuss the importance of teamwork, explore vocabulary to talk about the topic, watch a video and discuss useful tips about how to create better teams.

Members only! Subscription models

With this lesson, students talk about subscription models, explore vocabulary and discuss their personal experiences and opinions. They also watch a video featuring advice on how to manage subscriptions and discuss real-life services.

Changing careers

With this speaking lesson, students navigate the territory of career changes. They discuss job market trends, as well as benefits and challenges of transitioning careers. They also talk about important skills and watch a video about a woman who changed careers.

The golden age of podcasting

Explore the fascinating field of technology and podcasts with this lesson! After reading an article, students discuss the use of AI in podcasts, practise vocabulary to talk about the topic and discuss their ideas if they launched a 100% AI-generated podcast.

Ace your next job interview

Dive into the realm of job interviews with this lesson. Students practise job interview vocabulary, watch a video for tips, talk about what can make an interview successful and learn about the STAR approach for responding to interview questions.

Discussing how business works

This lesson set lets students work on their Business English and provides useful vocabulary as well as plenty of activities to practise it. 

Company roles

Dive into the world of different job roles with this lesson! Students practise phrases related to the topic, discuss their personal experiences, watch a promo video for a company and imagine starting a business.

The digital Revolut(ion)

With this lesson, students talk about online services and learn vocabulary related to the topic. They also discuss their own experiences, watch a video about a successful neobank, and discuss the features of digital businesses.

Forming logical arguments

In the first lesson of this set, students learn and practise conjunctions while talking about argumentation. Then, they further practise the conjunctions while using arguments to discuss some moral dilemmas.

Prioritizing and to-do lists

With this insightful lesson, students practise vocabulary to talk about priorities, watch an explainer video about the Eisenhower Matrix and discuss time management. They also give advice on how to organize tasks.

Office, remote or hybrid?

With this up-to-date lesson, students discuss work life after lockdown and practise vocabulary to talk about workplace changes. They also watch a news video about companies changing the way they work and discuss different work models.

How to deal with misunderstandings

With this speaking lesson, students discuss situations that might cause misunderstandings, watch a short and funny ad and analyse tips on how to avoid miscommunication.

Phone communication skills

The lessons in the set cover the topics related to phone communication. In the first lesson students talk about things one should and shouldn’t do when on a business phone call, and in the second lesson they practise phone conversations and talk about challenges of talking on the phone.

Talking about work tasks and skills

The lessons in this set allow students to learn useful structures and vocabulary to be able to talk about their tasks, skills and motivation more fluently. The tasks in the lessons also let students apply previously learnt materials.

Talking about advantages and disadvantages

In the first lesson, students learn language to talk about advantages and disadvantages. In the second lesson, they practise the target language while talking about a topic of interest.

Getting to know new students (A2)

This lesson set is designed to give you an opportunity to learn more about your new beginner (A2) students: their work, hobbies, and experiences.

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Trump's plan to hike tariffs instead of raising taxes could cause the 'mother of all stagflations,' policymakers warn

• Trump's idea to replace the US income tax with tariffs notched criticism from two Treasury secretaries.
• "This is a prescription for the mother of all stagflations," Larry Summers told Bloomberg TV.
• The current secretary, Janet Yellen, said it would make life unaffordable for Americans.

Janet Yellen and Larry Summers haven't always agreed on everything, but a new tax proposal from the Trump campaign earned a strong rebuttal from both the current secretary of the Treasury and the former one.

The idea, floated by former President Donald Trump to Republicans last week, would slash income taxes by raising tariffs on imports . While the proposal is said to have gained quick support from those present at the meeting, it has since been blasted as a surefire way to worsen inflation and dent US competitiveness.

"This is a prescription for the mother of all stagflations," Summers told Bloomberg TV on Friday, calling it the worst policy proposed in US history.

The chief concern is that tariff revenue provides nowhere near as much income to the government as taxes do, with income tax responsible for close to half of US revenue last year. To eliminate individual taxes, tariffs would need to climb well over 100%, Yellen, the current Treasury secretary, told ABC News .

When import levies rise, that typically causes foreign traders to raise prices or pull their products. When that happens, supply falls, and domestic products appreciate , according to the nonpartisan think tank Tax Foundation.

Related stories

"The impact would be to make life unaffordable for working-class Americans," Yellen said. "That would harm American businesses."

But to Summers, that's the least of it. He compared the moment to the Smoot-Hawley Tariff Act, an infamous 1930s bill that's blamed for worsening the Great Depression .

"If you replaced half of income-tax revenues with tariffs, those would be tariffs six times Smoot-Hawley levels," he said, adding that Trump had proposed replacing the entire system.

This could cause enormous damage to US exporters and consumers and send the world spiraling into "economic warfare" as countries responded, Summers added.

But to the GOP donor and billionaire investor Kyle Bass, Trump's idea is probably hyperbole, as it's just not feasible. Talking on CNBC, he pointed out that last year's import volume amounted to $3.8 trillion, while tax revenue is estimated to reach $5.4 trillion this year.

"There is just no way to run an import-tariff scheme to get you to $5.4 trillion," the Hayman Capital chief investment officer said.

Still, chances are high that a Trump White House would unleash tariffs in one form or another. The former president has made import duties a fundamental component of his trade policy, and not only to relieve income tax.

He's additionally discussed applying a universal 10% tariff rate on all US imports and raising it up to 60% for Chinese goods. Trump has argued that this will end the exploitation of US trade and give domestic producers an edge.

Watch: What Happens If The US Hits The Debt Ceiling And Defaults

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Home » Sample Business Plans » Education » School

How to Write a Language School Business Plan [Sample Template]

Do you want to start a language school and need to write a plan? If YES, here is a sample language school business plan template & FREE feasibility report. English is the official language in the United States and there are migrants and students who intend working or studying in the United States who would need to first enroll and pass through a language school before they can be fully integrated into the society, hence the viability and profitability of language schools in the United States of America.

If you want to start a language school, it would be a wrong business judgment if you decide to site the school close to an industrial area or close to a market. Aspiring entrepreneurs therefore are urged to ensure that they carry out thorough market research and feasibility study of the industry they intend to go into before investing their hard earned money and time in it.

A Sample Language School Business Plan Template

1. industry overview.

Generally, players in the Language Schools industry offer language instruction ranging from conversational skills for personal enrichment to intensive training courses for career or educational opportunities. Schools teach foreign languages, sign language and English as a second language. Please note that the Language Schools industry does not include language instruction software.

Over the years, per capita disposable income and international travel by US residents have grown, thus providing remarkable growth for the Language Schools industry. Going forward, the industry will build on its success in the online, corporate and international markets to fuel growth.

So also, steady immigration levels will aid long-term demand for English-language courses in the domestic market. Demand for language training will also grow as the US population becomes more diverse and businesses attempt to target the new demographic markets. Nevertheless, competition from language instruction software continues to pose a threat to the industry.

The Language Schools industry is indeed a large and thriving industry. Statistics has it that the Language Schools industry in the united states of America is worth billion, with an estimated growth rate of 1.3 percent within 2012 and 2017.

There are about 13,324 registered and licensed Language Schools scattered all around the United States of America and they are responsible for employing about 36,078 people. Alexander Language Schools, Berlitz, Language Leaders Franchising and Rosetta Stone Inc. are the market leaders in this industry, they have lion market shares in the industry.

A report released by IBISWorld shows that as with most industries in the education sector, wages, which include salaries and benefits, account for the largest cost to industry operators. This industry requires instructors, researchers and program developers, as well as employees who perform administrative and management duties.

The report also shows that in 2017, wages are estimated to account for 35.3 percent of revenue. Language schools usually deliver training on a face-to-face basis in small groups, which is highly labor-intensive. On the other hand, establishments can expand facilities and purchase equipment according to need, thereby reducing the level of capital needed to successfully operate in this industry.

Small local operators may even hold language classes in community centers, schools or residential homes. Even though there are loads of players in the Language Schools industry, the industry is still pretty much open for aspiring school proprietors and proprietress to still come in and compete.

As a matter of fact, if you conduct your research and feasibility studies very well before starting your own language school, coupled with impressive profile of your faculty members, you are likely going to struggle less to make headway in the industry.

2. Executive Summary

Kings International® Language School is an international private language school that will be located in a well – populated residential estate in Atlantic Avenue, Delray Beach – Florida, United States of America. We are a standard and government accredited language school that will be predominantly funded through tuition fees and levies from students and of course from other private sources.

Kings International® Language School is a client-focused and result driven private language school that provides broad-based learning approaches and experience at an affordable fee that won’t in any way put a hole in the pocket of our clients (students and parents alike).

We will offer standard and professional language teaching services in a highly secured and conducive learning environment. We will ensure that we work hard to meet and surpass all our students’ expectations and educational goals whenever they enroll in our school.

At Kings International® Language School, our students’ overall best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professional educationists cum teachers in various languages who are well experienced and passionate in imparting knowledge to students at various learning ladder.

Kings International® Language School will at all times demonstrate her commitment to sustainability, both individually and as an educational organization, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our students’ needs precisely and completely.

We have plans to offer learning platforms to people both online and offline. Our overall business goal is to position our language school to become the leading language school brand in the educational industry in the whole of Delray Beach – Florida, and also to be amongst the top 20 language schools in the United States of America within the first 10 years’ of operations.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Delray Beach – Florida is the right place to launch our language school.

Kings International® Language School is founded by Dr. Jenkins Adolphus and his immediate family members. He is an educationist par excellence and has won many awards in the education sector in the United States. Dr. Jenkins Adolphus has both the academic qualification and experience to run a private language school that can favorably compete with other leading language schools not only in Delray Beach – Florida, but also throughout the United States.

3. Our Products and Services

Kings International® Language School is going to offer varieties of learning and instruction services within the scope of the language schools industry in the United States of America. Our intention of starting our language school is to soundly educate people in various languages and of course to make profits and we will do all that is permitted by the law in the US to achieve our aim and business goal.

Our service offerings are listed below;

• Foreign languages (French, German, Portuguese, Spanish, Japanese, Mandarin and Arabic et al)
• English as a second language
• Career language training
• Sign language
• Retailing of language books and training materials (DVDs, and CDs et al)

4. Our Mission and Vision Statement

• Our vision is to build a highly competitive language school that will become the number one choice for students in the whole of Delray Beach – Florida. Our vision reflects our values: integrity, service, excellence and teamwork.
• Our mission is to provide professional and conducive learning environment to students at different levels of learning as it relates to the language of their choice.
• Our overall business goal is to position Kings International® Language School to become the leading language school brand in the language school industry in the whole of Delray Beach – Florida, and also to be amongst the top 20 language schools in the United States of America within the first 10 years of operation.

Our Business Structure

It is a known fact that the success of any business is to a large extent dependent on the business structure of the organization and the people who occupy the available roles in the organization. Kings International® Language School will build a solid business structure that can support the growth of our language school.

We will ensure that we hire competent hands (teaching and non – teaching staff members) to help us build the language school of our dream. The fact that we want to become one of the leading language schools in the industry in the whole of the United States of America makes it highly necessary for our organization to deliberately build a well – structured business from the onset.

We will work hard to ensure that we only attract people with the right mindset to help us achieve our business goals and objectives. Below is the business structure that we will build at Kings International® Language School;

• Head of School (School Proprietress)

School Administrator

Tutors for Various Languages

• Accountant/Bursar
• Client Service Executive/Front Desk Officer

Security Officers

5. Job Roles and Responsibilities

Head of School/School Coordinator:

• Grows management’s effectiveness by employing, selecting, positioning, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Produces, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing school fees and signing business deals
• Accountable for providing direction for the business
• Creates, interconnects, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• In charge of signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Responsible for overseeing the smooth running of HR and administrative tasks for the language school
• Design job descriptions with KPI to drive performance management for tutors (teachers)
• Regularly hold meetings with key stakeholders (students and member of the school board) to review the effectiveness of the schools’ Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Defines job positions for recruitment and managing interviewing process
• Carries out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily activities of the language school.
• Teach subjects as assigned by the school administrator
• Establishes foundations in various languages as assigned
• Accesses the progress of students under their care
• Ensures that students abide by the rules and regulations of the school
• Contributes his/her quota towards growing the language school
• Receives complaints from students and channel it to the appropriate quarters
• Handles any other duty as assigned by the school administrator

Marketing Executive

• Identifies, prioritizes, and reaches out to new students, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the school

School Bursar (Accountant)

• In control of preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• In authority of developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for Kings International® Language School
• Serves as internal auditor for Kings International® Language School

Client Service Executive

• Welcomes / receive students by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with parents and students (e-mail, walk-In center, SMS or phone) provides the students with a personalized customer service experience of the highest level
• Through interaction with students on the phone, uses every opportunity to build student’s interest in the schools’ products and services
• Manages administrative duties assigned by the HR and Admin Manager in an effective and timely manner
• Consistently stays abreast of any new information on the schools’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to students when they make enquiries
• Receives parcels/documents for Kings International® Language School
• Distributes mails in the organization
• Handles any other duties as assigned by the School Administrator
• Responsible for cleaning the school facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the schools’ facility
• Ensures that the school facility is secured at all time
• Controls traffic and organize parking
• Gives security tips to staff members from time to time
• Patrols around the building on a 24 hours’ basis
• Submits security reports weekly
• Any other duty as assigned by the school administrator.

6. SWOT Analysis

Because of our quest for excellence, Kings International® Language School engaged the services of a core professional in the area of business consulting and structuring with bias in the education sector to assist us in building a well – structured language school that can favorably compete in the highly competitive language schools industry in the United States.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Kings International® Language School. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Kings International® Language School;

As a language school, our core strength lies in the power of our workforce. We have a team with excellent qualifications and experience in languages. We are well positioned in a community with the right demography and we know we will attract loads of students from the first day we open our doors and welcome students for enrollment.

As a new language school in Delray Beach – Florida, it might take some time for our organization to break into the market and gain acceptance via reputation in the already saturated language schools industry; that is perhaps our major weakness.

• Opportunities:

The opportunities in the language schools industry is massive considering the number of student cum migrants who would want to learn new languages. In the United States, intensive language and cultural training will remain a popular service. As a standard and international language school, Kings International® Language School is ready to take advantage of any opportunity that comes our way.

The fact that language instruction software is becoming popular, this has resulted to increase in external threats for this industry.

Some other threats that we are likely going to face as a language school operating in the United States of America are unfavorable government policies that might affect private language schools, the arrival of a competitor within our location of operation and global economic downturn which usually affects spending/purchasing power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

The trend in the language school line of business is that the keys to attracting students are educational performance and the pass rate of their students in national exams. Any language school that has good records will always thrive.

The demand for the services offered by language schools are driven by the fact that migrants, businesses people, tourists and students would need to learn the language of their host country if they truly want to integrate fully in the country or community.

Economic downturn hasn’t really affected this industry, especially in countries that believe in the efficacy of education. The areas you would need to spend heavily on is in ensuring that your school is up to standard, on advertisements, and insurance policy cover.

Lastly, it is trendier to find language schools leveraging on technology to reach out to students beyond the location where their school is located. With the aid of technology, a language school in the United States of America can enroll and tutor students in any part of the world via online study programs.

8. Our Target Market

As a standard and international language school, Kings International® Language School is going to offer varieties of language instruction services within the scope of the language schools industry in the United States of America. Our intention of starting our language school is to soundly educate people in various languages and of course to make profits from the language schools industry.

Our target market as a private language school cuts across people (students, migrants, tourist, diplomats and business people) of different classes and cultural background whether African, Caucasian, Latinos, Indians, and Asians. We are coming into the language school industry with a business concept that will enable us work with the students at different learning stages.

Our Competitive Advantage

Indeed, the language school industry is highly competitive and the entry barriers are high. As a matter of fact, it is pretty difficult for new entrants to establish themselves in the language school industry. So also, the reputation of the language school is of utmost importance.

We are quite aware that to be highly competitive in the industry means that you should be able to deliver consistent quality service, your students should be able to experience remarkable improvement and you should be able to meet the expectations of both students and parents alike.

Kings International® Language School might be a new entrant into the language schools industry in the United States of America, but the management staff and owners of the school are considered gurus. They are licensed and highly qualified educationists/teachers at various levels of language learning in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Kings International® Language School is established with the aim of maximizing profits in the language schools industry and we are going to go all the way to ensure that we do all it takes to attract students on a regular basis. Kings International® Language School will generate income by offering the following language tutorial services;

10. Sales Forecast

One thing is certain, there would always be students who would need the services of language schools to be able to achieve their educational goals and as such the services of language schools will always be needed.

We are well positioned to take on the available market in Delray Beach – Florida and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the language school and our student base.

We have been able to critically examine language schools in the United States of America and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Delray Beach – Florida.

• First Fiscal Year: $250,000
• Second Fiscal Year: $450,000
• Third Fiscal Year: $750,000

N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown within the period stated above. Also, there won’t be any major competitor (language school) offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there are stiff competitions amongst language schools in the United States of America; hence we have been able to hire some of the best marketing experts to handle our sales and marketing concerns.

Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the language school. We will also ensure that our students’ excellent result from national exams and other exams speaks for us in the market place; we want to build a standard school that will leverage on word of mouth advertisement from satisfied clients.

Kings International® Language School is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our language school by sending introductory letters alongside our brochure to schools, corporate organizations and key stake holders in Delray Beach – Florida
• Print out fliers and business cards and strategically drop them in schools, libraries and even student organizations
• Use friends and family to spread word about our language school
• Introduce Kings International® Language School to learning specialists, school administrators, teachers, guidance counselors especially as they are with students everyday
• Post information about Kings International® Language School on bulletin boards in places like schools, libraries, and local coffee shops.
• Place a small or classified advertisement in newspapers, or local publications about Kings International® Language School.
• Use tutorial referral networks such as agencies that will help match students with Kings International® Language School.
• Join relevant association or body that will enable us network and meet others in same industry.
• Advertise online by using an advertising platform such as Google AdWords, that will allow us place text advertisements alongside on websites with related contents, and along results from search engines.
• Advertise our language school in relevant educational magazines, newspapers, TV stations, and radio station.
• Attend relevant educational expos, seminars, and business fairs et al.
• Engage direct marketing approach.
• Encourage word of mouth marketing from loyal and satisfied students.

11. Publicity and Advertising Strategy

We are aware of the potency of a good publicity strategy hence we have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for students in the whole of Delray Beach – Florida which is why we have made provisions for effective publicity and advertisement of our language school. Below are the platforms we intend to leverage on to promote and advertise Kings International® Language School;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events/programs
• Leverage on the internet and social media platforms like Instagram, Facebook, twitter, YouTube, Google + et al to promote our brand
• Install our billboards in strategic locations all around Delray Beach – Florida
• Engage in roadshows from time to time in targeted neighborhoods in and around Delray Beach – Florida
• Distribute our fliers and handbills in target areas in and around Delray Beach – Florida
• Passing general information via our school’s social media handles like twitter, Facebook, Google hangouts etc.
• Ensure that all our teaching and non – teaching staff members wear our branded shirts and all our vehicles are well branded with our schools’ logo et al.

12. Our Pricing Strategy

Language schools in the United States of America and of course in all parts of the world charge students per tem/per session and students have the option of either paying their tuitions before resumption or during the school session. Language schools generally charge students based on loads of factors, locations, services offerings and extra – curricular activities et al.

At Kings International® Language School, we will keep our fees below the average market rate for all of our students by keeping our overhead low and by collecting payment in advance.  In addition, we will also offer special discounted rates to all our students at regular intervals.

We are aware that there are some students that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such students’ needs.

• Payment Options

The payment policy adopted by Kings International® Language School is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulations of the United States of America.

Here are the payment options that Kings International® Language School will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via Point of Sale Machine (POS)
• Payment via online bank transfer
• Payment via check
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for the purchase of our services.

13. Startup Expenditure (Budget)

In setting up a language school business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by acquiring a large facility, then you would need a higher amount of capital as you would need to ensure that your employees are taken care of, and that your language school’s environment is conducive enough for students to learn.

The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a language school business; it might differ in other countries due to the value of their money.

However, this is what it would cost us to start Kings International® Language School in the United of America;

• Business incorporating fees in the United States of America will cost – $750 .
• The budget for Liability insurance, permits and license will cost – $3,500
• Acquiring a large facility that will accommodate the number of block of classes, staff offices and parking lots et al (Re – Construction of the facility inclusive) will cost – $350,000 .
• Equipping the classes and office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $50,000
• Launching an official Website will cost – $500
• The budget for the payment of salaries for the first three months of operations: $120,000
• Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $15,000

Going by the market survey and feasibility studies conducted, we came to the conclusion that we will need an average of $750,000 to start a medium scale but standard language school in the United States of America.

Generating Startup Capital for Kings International® Language School

Kings International® Language School is a family business that will be owned and managed by Dr. Jenkins Adolphus and his immediate family members. They are the sole financiers of the language school which is why they decided to restrict the sourcing of the startup capital for the school to three major sources.

These are the areas we intend generating our startup capital;

• Generate part of the startup capital from personal savings and sale of his stocks
• Generate part of the startup capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank

N.B: We have been able to generate about $250,000 ( Personal savings $200,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is a known fact that the future of any business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and of course their business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Kings International® Language School is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers (students and parents alike) over is to ensure that we offer nothing less than the best.

Kings International® Language School will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check: Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Securing a standard facility large enough to accommodate our design: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the startup capital from the founders: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Language Schools’ Logo: Completed
• Graphic Designs and Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the School: In Progress
• Creating Awareness for the language school in Delray Beach – Florida: In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in the education industry: In Progress

More on School

CALL FOR PROPOSALS (RFP) – THE TONY ELUMELU FOUNDATION (BUSINESS PLAN REVIEW)

The tony elumelu foundation.

The Tony Elumelu Foundation (TEF) is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalyzing job creation across all 54 African countries, and increasing women economic empowerment. Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed nearly USD$100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs. The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.

The Foundations aims to:

• Promote entrepreneurship development in Africa with a focus on startups and existing MSMEs (Micro Small and Medium Enterprises).
• Provide entrepreneurship skills training to startups and emerging African entrepreneurs.
• Deliver Business Development Services (BDS) necessary for startups and existing MSMEs across Africa for growth and diversification.
• Promote innovation, mentoring, technology development, networks, and market linkages among African Entrepreneurs.
• Undertake initiatives that promote access to affordable credit, working capital, guarantees, and other financial services suitable for startups and small businesses in Africa.
• Advance policy advocacy by facilitating partnerships with state and non-state actors to improve the operating business environment for local enterprises’ development in Africa.
• Setting up systematic monitoring and evaluation of the impact on African Entrepreneurs.
• Engage private sector leaders, corporations, and businesses to support the development of African entrepreneurs.

The TEF Entrepreneurship Programme directly addresses some of the most endemic challenges to African start-ups through a 4-step process:

• An online toolkit – The TEF Entrepreneurship Programme provides access to TEF’s proprietary online Start-up Toolkit training, which is comprehensive, practical training that equips entrepreneurs with resources on financial planning, market analysis, product marketing, business management skills, and many more. Over a period of 8 weeks, the entrepreneurs are assigned training modules with assignments that are completed with dedicated mentors. A weekly webinar is held by TEF to facilitate a deeper understanding of the principles covered and respond to questions. Interpretation in French, Portuguese and Arabic are available for non-English speaking entrepreneurs to follow the training as well.
• Mentoring – The TEF Entrepreneurship Programme matches mentors selected from all over the world with entrepreneurs to coach and guide them through the training window. The mentorship leverages online tools such as the TEFconnect platform, emails, social media, etc. Mentor selection and matching is carefully conducted to ensure alignment with the entrepreneurs’ goals and objective
• Business plan preparation and review – The TEF Entrepreneurship Programme further supports entrepreneurs that have been through the training to develop a business plan using a simplified template provided. After this, a business plan certification competitive process occurs to review, provide feedback, and refine the document to ensure feasibility.
• Seed capital investment – Upon certification of the business plan, the TEF Entrepreneurship Programme and its funding partner will provide a non- refundable seed capital investment of up to USD2,000 or its equivalent in local currency in a corporate bank account in the business name of the entrepreneur. A due diligence exercise is conducted in which the entrepreneur is required to fulfill certain compliance criteria before being eligible for the funding.

SCOPE of Work

• Establish the extent through which the entrepreneur has imbibed/utilized the key learnings from the TEF Business Management Training to advance their ideas/businesses.
• Determine the level of readiness (or otherwise) of the business with respect to receiving the non-returnable seed capital investment.
• Categorize all TEF EP entrepreneurs/businesses based on the degree of effort required by the entrepreneur for her business to be considered ready for the seed capital and select the top 220 . [It is worthy to note that exceptional consideration will be given to 69 uniqueparticipants; the selected vendor will be informed of whom they are and why].

REVIEW CRITERIA

The criteria below should be used as the metric for review:

Methodology

• Recommendations should have a clear audience and be specific, accessible, and actionable.
• Appendices should include a list of evaluators, evaluator(s) brief biography, and measured indicator metrics.

Ethical Considerations

It is expected that this business plan review will be ethically conducted. Proposals submitted should adhere to inclusion principles (i.e fair representation across all states for selected participants.) in the review.

In addition, the vendor is required to respect the following Ethical Principles1:

• Comprehensive and systematic inquiry: The consultant should make the most of the existing information and the full range of stakeholders available at the time of the review. He or she should communicate his or her methods and approaches accurately and in sufficient detail to allow others to understand, interpret and critique his or her work. He or she should make clear the limitations of the review and its results.
• Competence: The consultant should possess the abilities, skills, and experience appropriate to undertake the tasks proposed and should practice within the limits of his or her professional training and competence.
• Honesty and integrity: The consultant should be transparent with any conflict of interest, any change made in the negotiated project plan and the reasons why those changes were made, any risk that certain procedures or activities produce misleading review information.
• Respect for people: the firm respects the security, dignity, and self-worth of respondents and program participants. The consultant has the responsibility to be sensitive to and respect differences amongst participants in culture, religion, gender, disability, age, and ethnicity.

Quality Assurance and Management

All proposals will be reviewed and approved by TEF Team prior to acceptance and selection of the final vendor. The proposal detailing the proposed method and work plan is also to be approved by the TEF team.

2 weeks (commencing on October 1, 2023)

Minimum Organizational Requirements

• Sound general organizational capacity and demonstrated ability to provide sound business plan review services.
• Have suitably qualified key experts for the provision of the services including experts in Business Strategy, Finance/Accounting experience, and Market Research.
• Experience in similar work with top tier organizations on similar programme or projects.

Criteria for Selection

Upon the advertisement of the RFP, a qualified Consultancy Firm is expected to submit the proposal with an inclusive commercial:

• Having received the highest score out of a pre-determined set of weighted technical and financial criteria specific to the solicitation. In this regard, the respective weight of the proposals are:

STANDARD TECHNICAL PROPOSAL EVALUATION CRITERIA

Confidentiality and PROPRIETARY Interests

The consultants shall not either during the term or after the termination of the assignment, disclose any proprietary or confidential information related to the project without prior written consent. Proprietary interests in all materials and documents prepared by the consultants under the assignment shall become and remain properties of the Tony Elumelu Foundation.

Annex I. Vendor Deliverables and timeline

Send your proposals to [email protected]

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Jittery markets rally after Argentina’s Milei gets his first legislative ‘triumph’ on broad reforms

Senators debate a reform bill promoted by Argentine President Javier Milei in Buenos Aires, Argentina, Wednesday, June 12, 2024. The bill was approved in general and must now be debated article-by-article before being sent to the Lower House. (AP Photo/Natacha Pisarenko)

Argentine riot police fired water cannons and tear gas to disperse protesters who threw stones and Molotov cocktails outside Congress on Wednesday. The protests come as Argentina’s Senate began voting on a state overhaul and tax bills proposed by President Javier Milei in the most serious test to date of the libertarian leader’s vision of governance and change. (AP Video by Victor R. Caivano)

Protestors and police clashed outside Argentina’s Congress on Wednesday. The protests come as Argentina’s Senate began voting on a state overhaul and tax bills proposed by President Javier Milei in the most serious test to date of the libertarian leader’s vision of governance and change. Police used water cannon to disperse the protesters.

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Police gesture outside Congress after the Senate approved a reform bill presented by Argentine President Javier Milei in Buenos Aires, Argentina, Wednesday, June 12, 2024. The bill must now be debated article-by-article before being sent to the Lower House. (AP Photo/Rodrigo Abd)

Anti-government protesters follow the results of the Senate’s vote on a reform bill presented by Argentine President Javier Milei outside Congress in Buenos Aires, Argentina, Wednesday, June 12, 2024. The bill was approved in general and must now be debated article-by-article before being sent to the Lower House. (AP Photo/Rodrigo Abd)

A car burns during clashes between police and anti-government protesters outside Congress, where lawmakers debate a reform bill promoted by Argentine President Javier Milei in Buenos Aires, Argentina, Wednesday, June 12, 2024. (AP Photo/Gustavo Garello)

Argentine Vice President and Senate President Victoria Villarruel speaks before casting the tie-breaking vote in favor of a bill promoted by President Javier Milei in Buenos Aires, Argentina, Wednesday, June 12, 2024. The bill was approved in general and must now be debated article-by-article before being sent to the Lower House. (AP Photo/Natacha Pisarenko)

An anti-government protester reacts outside Congress after learning that the Senate passed a bill of reforms proposed by President Javier Milei in Buenos Aires, Argentina, Wednesday, June 12, 2024. The bill must now be debated article-by-article before being sent to the Lower House. (AP Photo/Rodrigo Abd)

Senators who supported a reform bill promoted by President Javier Milei celebrate after it was approved in Buenos Aires, Argentina, Wednesday, June 12, 2024. The bill must now be debated article-by-article before being sent to the Lower House. (AP Photo/Natacha Pisarenko)

Un manifestante contra el gobierno con un cartel contra una reforma impulsada por el presidente argentino, Javier Milei, a las fueras del Congreso frente a la policía, en Buenos Aires, Argentina, el miércoles 12 de junio de 2024. (AP Foto/Natacha Pisarenko)

An anti-government protester hurls a stone at police deployed outside Congress, as lawmakers debate a reform bill promoted by Argentine President Javier Milei in Buenos Aires, Argentina, Wednesday, June 12, 2024. (AP Photo/Natacha Pisarenko)

Police line up during clashes with anti-government protesters outside Congress where lawmakers debate a reform bill promoted by Javier Milei in Buenos Aires, Argentina, Wednesday, June 12, 2024. (AP Photo/Natacha Pisarenko)

An anti-government protester holds an Argentine flag by police near Congress where lawmakers debate a reform bill promoted by Argentine President Javier Milei in Buenos Aires, Argentina, Wednesday, June 12, 2024. (AP Photo/Natacha Pisarenko)

BUENOS AIRES, Argentina (AP) — Wall Street rallied Thursday as Argentina’s President Javier Milei traveled to Italy for the Group of Seven summit , buoyed by his first legislative victory after the Senate passed sweeping proposals to slash state spending and boost his powers.

Having hitched his political fortunes to the goal of cutting down Argentina’s bloated state, Milei hailed the vote as a “triumph” and “the first step toward the recovery of our greatness.”

Even so, opposition senators scrapped an income tax package and watered down other parts of the bill after a daylong debate marred by clashes between police and protesters in the capital of Buenos Aires.

The legislation aimed at overhauling Argentina’s long-troubled economy during its worst financial crisis in 20 years will return to Congress’ lower house for final approval, where it’s expected to become law.

In a further boost to Milei’s agenda Thursday, data released by the government statistics agency showed Argentina’s monthly inflation rate halving to 4.2% in May, the lowest rate since January 2022.

The drop continues a trend of declining prices — on a monthly basis — since January, after Milei entered office and devalued the currency . That sent annual inflation soaring toward 300% , among the highest in the world.

The bill’s passage cheered markets. Argentine sovereign bond yields jumped 3.5% on the news, and its country-risk index dropped more than 6% when markets opened. Argentina’s currency, the peso, dipped to 1,220 for a dollar on the black market, narrowing the gap between the official and informal exchange rates.

In Thursday’s early hours, Senate president Victoria Villarruel, Argentina’s vice president, broke a 36-36 tie in the upper house to give overall approval to Milei’s plans to trim the fiscal deficit , incentivize foreign investment and privatize some state-owned companies.

Milei delayed his flight to Italy until the Senate approval then jetted off, exultant.

The right-wing economist is the only leader since Argentina’s return to democracy in 1983 not to pass a law within his first six months as president. A defeat would have pitched his government into crisis.

“Milei has avoided falling off the cliff,” said Lucas Romero, director of the consulting firm Synopsis.

A populist outsider who rode to power attacking the establishment , Milei has found it impossible to enact his promised reforms without compromising. His 3-year-old political party, Liberty Advances, holds 15% of seats in the lower house and 10% in the Senate.

What do the new bills include?

Milei’s party made some key concessions, agreeing not to auction Argentina’s flagship airline Aerolíneas Argentinas, post office or radio and TV company. That left a handful of state-owned firms, such as an Argentine natural gas provider, on the list for possible privatization , falling short of his ambitions.

The bills are a diverse array of measures:

1. The most divisive article declares a state of emergency in Argentina for one year and grants the president new powers in matters of energy, pensions, security, taxation and other sectors until the end of his term in 2027. Villarruel again broke a 35-35 tie with her vote.

2. The government will privatize several state companies, including Buenos Aires water and waste management company AySA, national road safety agency Corredores Viales, power provider Energía Argentina and airport service provider Intercargo.

3. An incentive scheme, central to Milei’s ambitions to lure foreign capital, would give lucrative tax breaks and other perks to foreign companies investing $200 million or more. They include exemptions from import tariffs and export duties for three years and preferable tax treatment for 30 years. Critics warn the measures will hurt local industry.

4. Changes to the labor market would make it easier for employers to fire workers by extending trial periods that allow dismissals without cause.

5. A tax amnesty would allow Argentines to register their undeclared assets at home and abroad without paying heavy taxes.

The Senate’s rejection of a few other measures — including the lowering of an income tax threshold and pension cuts for civil servants with fewer than 30 years on the job — raises the specter of a cash crunch.

Pressures are mounting over Argentina’s rapidly depleting foreign exchange reserves as the government struggles to repay its massive foreign debt, including $44 billion owed to the International Monetary Fund and $18 billion in a currency swap line with China .

On Wednesday, the central bank said it had agreed with China to postpone $5 billion in debt repayments, heading off a repayment deadline that had been looming next month.

How are the Argentines responding?

Using executive powers, Milei has slashed subsidies for electricity, fuel and transportation, causing prices to skyrocket and spreading economic misery. More than half of all Argentines now live in poverty.

The fifth straight month of declining monthly inflation means little to ordinary Argentines, who say their low wages remain stagnant as prices in Buenos Aires restaurants and shops skyrocket to levels seen in American and European cities.

“A year ago I had a completely different life, I could travel, I could eat well,” said Vivi Rola, a 69-year-old teacher in downtown Buenos Aires, as street cleaners were still sweeping away broken bottles, rocks and incinerated metal from the previous night’s violence when police fired tear gas and water cannons and angry protesters clashed with the officers.

“Now I just hope to make it to the end of the month,” Rola added.

The left-leaning Peronist movement , aligned with former president Cristina Fernández de Kirchner , decried the bill’s passage as the latest political catastrophe for Argentina, which has been shaped by its brutal military dictatorship in the late 1970s.

“We were able to overcome the dictatorship, and surely this is going to be a new, different challenge,” said Agustín Rossi, the former chief of staff.

Analysts say that the passage of Milei’s legislation signals a sharp reversal from Peronist administrations that ran vast budget deficits. That has already reassured markets.

“The Milei government showed it’s on a political learning curve, which is positive for investors and markets whose main concern is how much of his reform promises will materialize,” said Marcelo J. García, Americas director at geopolitical risk firm Horizon Engage.

But the razor-thin vote means that Milei’s victory comes “at an extremely high cost,” said Mariano Machado, analyst at risk intelligence company Verisk Maplecroft. He said roadblocks cannot be ruled out as the bill heads back to the lower house.

Associated Press writer Almudena Calatrava in Buenos Aires, Argentina, contributed to this report.