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A Free Business Plan Example to Launch Your South African Business This free Business Plan example provides you with a sample business plan as well as guidance on how to write a business plan and important sections to include in your plan.

By Catherine Bristow Scott May 28, 2019

You're reading Entrepreneur South Africa, an international franchise of Entrepreneur Media.

It pays to plan.

Research conducted by Harvard Business Review found that "entrepreneurs who write formal plans are 16% more likely to achieve viability than the otherwise identical non-planning entrepreneurs."

Simply put, writing a business plan could make the difference between business success and failure – which is why planning now could pay dividends as your business gets off the ground.

But where do you start when writing a business plan? In this comprehensive business plan example, we provide you with what to include in your business plan and a sample business plan to help you to create a compelling plan for your start-up.

1. Executive Summary

If you have seven seconds to make a strong first impression in person, an Executive Summary will be the make-or-break section of your business plan – so make this section count.

As a brief outline of your company's purpose and goals, the Executive Summary should generally take up 1 to 2 pages of your business plan. Some key components to include in your business plan are:

• A company description
• A brief summary of your products or services
• The company objectives
• A short but thorough overview of the market
• A justification for viability, particularly "why now?"
• A snapshot of your business's growth potential
• A short description of the organisation team
• Your marketing plan
• Financial projections

Importantly, your Executive Summary must clearly depict the Problem, the Solution, and carry a sense of timeliness – why now should your business be considered as the solution to solve this problem.

NOTE: The following Business Plan Example is based on a fictional company. Figures will not reflect the exact financials of a similar company.

Example of a Business Plan Executive Summary

Snug Sneakers is a sneaker shoe range based in Cape Town that currently focuses exclusively on selling locally produced men's and women's custom sneakers.

The business was founded by David Smith and Stewart Bruce, who have both been working within the retail industry for over 20 years, David Smith, a serial entrepreneur has also founded successful brands – Creative Caps and women's cycling brand Pedal Power.

The brand is currently selling online, however has also recently diversified to selling in independent shoe shops.

The company is projecting to sell R2 million in year 1 and R8 million in three years' time. Additionally, there are expansion plans within year 2 to set up distribution networks in Johannesburg, and Durban in the early part of year 3.

Both David and Stewart are social entrepreneurs at heart and believe in providing sustainable jobs for impoverished communities.

As such, the company has started a recycling and training academy in Khayelitsha, where consumers can return old sneakers that are then repaired by Khayelitsha residents and donated to those in need of shoes. This also provides learners within the academy with shoe-making and recycling trade skills.

Industry research has shown that, on average SA consumers own 4 pairs of sneakers, with 4 in 4 consumers indicating that shoe fit and sizes vary across brands.

3 in 4 consumers indicated that their number one concern when purchasing is having to "settle' for the best fitting shoe, despite the fit not being 100% correct.

Based on these and additional industry research statistics, the company's sneaker products are driven to provide the best shoe fit, with the tagline of "shoes that fit so good, you'll never go barefoot again.'

The main competition to Snug Sneakers comes from 1 local brand, SuperStars, and 2 overseas brands Sassy Sneakers and Rock Your Sneakers.

Although SuperStars supports sustainable use of local manufacturers, the competitor does not provide custom fit sneakers. Sassy Sneakers and Rock Your Sneakers both offer custom fit sneakers, both brands are manufactured in China and do not promote sustainable, social conscious value propositions.

The primary means of marketing will mainly be focused on digital marketing, through evidence-based approaches, including search engine optimisation, Google Ads, Facebook Advertising as well as utilising social media channels that have proven very popular for the company, including Instagram, Pinterest and Facebook.

The locally sourced raw materials, which include cotton, rubber and leather, will be supplied from a sustainable cotton mill and tannery in the Limpopo Province.

Funding for the company was derived through the 2 founders, as well as private investment.

2. Business Overview and Objectives

Creating an overview of your business when you are already established makes it easier, but it may be a little harder when you're either just starting out or haven't even kicked off your operations yet.

When you're just starting out, think about your products and services as your starting point.

• What will you be providing your market with?
• How will you be sourcing/ producing these items?
• What do you need to have in place before you can start selling your products?
• Who will be distributing/ manufacturing your products?
• Importantly, who will your target market or customer be?

In our example business plan, Snug Sneakers serves both retail and online customers, although the bulk of the business is through their online clientele.

This means that Snug Sneakers will need a secure e-commerce platform and a website that has carefully considered the user journey when buying custom sneakers.

The company will also need employees to assist with technical challenges, customer support, and warehouse staff for the packing and distribution of their products.

Similarly, you would need to consider the following when identifying their business objectives:

• What industry will you operate in?
• Who will be your customer?
• What is the problem that you will be solving?
• How will you solve this problem?
• Where will my business be located?
• What equipment and resources will I need within my business?
• What type of employees do I need?
• How will I differentiate my offering from my competitors?

After answering these questions, you will have a better understanding of what it is that you will be offering and what you need to make it happen. A summary of these points will make up your Business Overview and Objectives for your Business Plan.

Example of a Business Overview and Objectives

Snug Sneakers, based in Cape Town South Africa, is focused on providing sustainable, locally produced custom footwear to South Africa, and internationally through its e-commerce platform and local distributor network.

Founded by entrepreneurs David Smith and Stewart Bruce in December 2017, from Stewart's garage, Snug Sneakers grew exponentially within 1 year from 5 online purchases a month to an average of 200 per month within 12 months.

From the company's rapid growth, it became very clear to the founders that there is a gap in the South African market for locally produced, quality sneakers.

The founders' vision for Snug Sneakers is to become a socially conscious, sustainable brand that supports the South African economy by buying 80% locally produced raw materials.

Additionally, the duo noticed a gap in the market where consumers were looking for custom-fitted shoes and remain loyal to the brand that fit them best. To this end, Snug Sneakers offers a wide range of shoe sizes including quarter and half sizes to ensure that all customers find the right snug fit for their feet.

The overarching philosophy and ethos for the company are:

• "Soul sneakers' that allow customers to purchase sneakers that promote social consciousness.
• "South African sourced' sourcing locally produced raw materials that provide job sustainability.
• Superior sneakers' ensuring that customers still get a high-quality product that outmatches popular brands in workmanship and quality.

Company Status

Snug Sneakers was registered as a PTY (Ltd) on 1 December 2017. The main directors are David Peter Smith and Stewart Owen Bruce. Company shares are held by the founders.

The company currently operates out of rented commercial property in Blackheath, Cape Town.

Company Objectives

Snug Sneakers is currently selling custom sneakers primarily through its online store https://www.snugsneakers.co.za , with market penetration nationally, and highest market penetration in Johannesburg and Cape Town. Sporadic orders have also been received from the USA and the United Kingdom.

The company has also partnered with 3 independent shoe and clothing retailers focused on selling locally-sourced South African apparel.

The company has identified a 2 phased upscaling approach for growing sales and operations:

• Increase online sales by 40% within a 6-month period of 2019
• Increase brick-and-mortar retail partnerships from 2 stores in Cape Town to an additional 4 stores in Johannesburg by year end.
• Increase online sales by 50% by end of year 2020
• Explore opening up a brick-and-mortar store in the Canal Walk Shopping Centre, Cape Town
• Increase brick-and-mortar retail partnerships to include 1 store in Durban.

3. Products and Services

In this section, you will be unpacking your product and services offering, especially your key product differentiation from your competitors. Importantly, in this section you will also need to validate why your product is needed by your customers.

If you have applied for any patents, copyrights, or trademarks, you would also include these in this section.

Products and services that already exist may not need a deep analysis of what they are within your business plan.

However, if you're creating a completely new product or service (if you were the first Uber of the world), carefully detail in this section what your product is about, it's uses and the value it brings to the market so your readers will be able to evaluate the value of your product and services.

Some important aspects to cover include:

• The anticipated timeline to bring your new product to the market.
• What differentiates your product or service from those already available in the market.
• What will your operating costs be and profit margins.
• How will you source/ manufacture your product.
• How will the product be distributed to customers.

Example of Products and Services

Snug Sneakers will provide a line of custom sneakers for both men and women. The main product lines include:

• Casual Range: Everyday sneaker footwear
• Active Range: Active gym range of sneakers
• Fashion Forward Range: Formal but funky range of sneakers

Current pricing of the sneakers as follows:

• Casual Range: R550
• Active Range: R950
• Fashion Forward Range: R850

Competition

There are three main competitors that have been identified within the market. These include:

Local competitor:

1. SuperStars 40% locally made raw materials, with 60% of the raw materials originating from China. The brand however does not provide custom-fit sneakers.

Foreign competitors:

2. Sassy Sneakers are based in Australia, with the product line produced in China. The company offers custom fit sizes, however customers have to pay extra for the custom fit and product quality is low.

3. Rock Your Sneakers is a US based company, with the product line produced in China. The company offers some custom fit sizes, however the sizes are limited and the product is only available to South African's online and with a long lead time to delivery.

Snug Sneakers products have a unique differentiator within the market:

• A greater range of custom fit sizes ranging from ¼ - to half sizes as well as broad and narrow width ranges.
• The company will be the only brand within South Africa to offer 80% locally manufactured sneakers.
• Quality of the products is superior to the current locally-made competitor, due to locally sourced high-quality raw materials.

Future Products

The company has also been looking into introducing a line of sneaker care products to assist customers in increasing the longevity of their purchases.

4. Competitive and Market Analysis

Providing evidence that there is demand for your product or service is one of the most critical components of your business plan. Key to this is understanding your market and your competition within that market.

Embarking on market research requires you to have a deep understanding of what your market is and the opportunities inherent within it. You should be able to define:

• Target Market. The types of customers you will be targeting with your product or service.
• Market Need. If there is demand for your products and services and whether this is increasing or declining.
• Competition. The positioning of your competitors in the market and how you will differentiate your offering from them.
• Barriers to Entry. What will prevent someone else from providing the same offering or better.
• Regulation. Regulations that will be applicable to the industry that your business will be operating in.

Example of a Market Analysis

Target market.

With our initial line of casual, active and fashion forward sneakers, we're looking to target the following consumer segment:

• Age: 16 -36
• Digital Savvy: Researching and shopping online is part of this customer's DNA. The target market is also very active on social media platforms such as Instagram, Pinterest and Facebook.
• On Trend: Fashion forward and looking to illustrate their unique personalities, the target market is always looking for fashion to express their uniqueness.
• Social Consciousness: The target market is proudly South African and are highly conscious of the socio-economic issues and have a keen desire to take part in improving the SA economy, uplifting communities and supporting local initiatives.

Market Need

According to a Global View Research Marketing Report, the global athletic and leisure footwear market size was valued at USD 67.8 billion in 2017. The report found that this value is expected to expand at a CAGR of over 8.0% from 2018 to 2025.

The ever-growing awareness with regards to the health benefits of sports and fitness activities, as well as an expanding retail e-commerce sector globally, including increasing levels of disposable income amongst millennials are estimated to be the key reasons for increasing market growth in this market.

Additionally, the Global Sneaker Market 2018 Industry Trends and Sales report found that although the global brands reported increased profit margins in 2017, these have decreased by 1.5% from 2016.

On the other hand, independent Sneaker retailers have reported a 15% increase in sales, particularly online, in 2017, indicating that consumers are moving away from global brands to pursue lesser known boutique footwear retailers.

• SuperStars is based in Johannesburg and provides sneakers with 40% locally made raw materials, with 60% of the raw materials originating from China. The brand however does not provide custom-fit sneakers.
• Sassy Sneakers are based in Australia, with the product line produced in China. The company offers custom fit sizes, however customers have to pay extra for the custom fit and product quality is low.
• Rock Your Sneakers is a US based company, with the product line produced in China. The company offers some custom fit sizes, however the sizes are limited and the product is only available to South African's online and with a long lead time to delivery. (Repeated above)

5. Marketing/Sales Strategy

You're on the right track when you have established that there's a market for your product and service and you have identified who your target market is quantifiably, but how will your market segments know to look out for or even buy your product and services?

This is where your marketing and sales strategy comes into play.

A well-defined marketing strategy goes beyond simply advertising your product and service – it includes a deeper understanding of how your customers will view your brand, what is the best way to reach your customers, the benefits that your customer will receive from using your service or buying your product.

Your marketing strategy must also include the budget for your marketing and sales efforts, whether you will require sales staff to sell your products and offer post-sales support, as well as how you will measure your marketing and sales efforts to evaluate their effectiveness.

Example of a Marketing Strategy

Marketing plan.

• Search Engine Optimisation : Our website pages will be optimised for search engine rankings, with the objective to rank within the top 3 search positions for keywords "custom sneakers", "custom size sneakers" and "custom made sneakers".
• Paid Search : Snug Sneakers will be investing in Google Ads and Facebook Advertising and well as Programmatic Advertising to increase landing page conversion rates.
• Social Media : We will be establishing a targeted social media strategy to increase followers across the social media platforms that have shown the highest engagement with the target market. High frequency posts will be created target at highest engagement times to increase engagement and brand awareness.
• Business Network : We will partner with independent apparel and footwear retailers to drive link building and link sharing both on website and on social media.

Customer Value Proposition and Value Differentiator

Although there is one locally produced sneaker competitor within the market, the founders believe that the customer value proposition being brought to the market is a unique offering and therefore a strong differentiator within the market.

The founders are cognisant that without this differentiator, the only differentiator will be price, which will ultimately have a negative impact on profit margins.

As a unique differentiator and value proposition, Snug Sneakers provides customers with Sneakers with South African Sole, leveraging the Proudly South African heritage and support for local initiatives to help grow South Africa's job economy and promote community upskilling and learnership programmes.

Additionally, Snug Sneakers will ensure that the quality of the products far outweighs those of global brands manufacturing in China. The most important differentiator, however is the ability to custom size shoes to each individual's unique size requirements.

6. Staffing and Operations

Strategy is irrelevant without execution – which is where your Operations Plan comes into play in your business plan. How will you serve your customers, while keeping your operating costs low enough to make sufficient profitability?

Your Operations Plan will detail how you will manufacture, staff, fulfil and stock your products, including your day-to-day operational requirements. Ultimately, this section describes how you will run your business.

Some questions to answer in this section include:

• Where will your operations be based?
• What is your management structure?
• What are your staffing requirements?
• What equipment, facilities and supplies will you need?
• How will you establish your suppliers?
• What will be the operational changes required should your company grow?
• What will your production methods entail?
• How will you service/ deliver goods to customers?
• What regulatory requirements must be in place? (Licences, permits etc.)
• How will you manage your inventory levels?

Example of Staffing and Operations

Management team.

David Smith is a serial entrepreneur who founded successful and well-known brands Creative Caps and women's cycling apparel Pedal Power.

David graduated from Stellenbosch University with a B Comm in Economics and went on to study an MBA at GIBS Business School. David heads up Snug Sneakers as the Chief Executive Officer (CEO).

Stewart Bruce has worked in the retail industry as a Senior Designer for well-known retail brands, including Puma and Sketchers.

With over 20 years' experience in designing active and casual footwear, as well as sourcing and overseeing materials for the product range, Stewart brings excellent experience to the management mix as Chief Design Officer.

7. Financial Projections

The bottom line counts the most when it comes to writing your business plan.

Without the numbers to prove whether your business will be profitable or not, potential investors or lenders will have a difficult time objectively deciding if your business will be a sound investment.

Aside from persuading potential investors, crucially, the numbers that you have crunched will also indicate whether you have a viable business.

There are five basic reports or cash projections to include in your business plan:

• Income Statement
• Balance Sheet
• Cash Flow Statement
• Operating Budget
• Break-Even Analysis

It's important to come up with credible financial projections for your business to illustrate that it is feasible.

One way to tackle this section is to break down the figures into various components, such as by sales channel or target market segment.

At this stage, you won't be able to supply exact figures, because you're still estimating your future financials, but by breaking down your guesses into components you will be able to determine a more realistic figure for each component, rather than hazarding guesses as a whole.

The business plan should be an ongoing, living document that can be used as your guide for running your business. It requires continuous adjustment as your business changes and grows.

Entrepreneur Staff

Sales Enablement - Content Division Manager

Catherine Bristow Scott is the Content Division Manager for Entrepreneur South Africa. With specialist expertise in developing SEO content, effective sales enablement content to drive lead generation, as well as digital strategy, Catherine brings an in-depth understanding of developing both written and video content to assist businesses in remaining competitive and growing their revenue.

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Whether you’re a budding entrepreneur or an established business owner, our sample business plans provide valuable insights and templates to kickstart or refine your journey. Here, you’ll find a curated collection of comprehensive and professionally crafted business plan samples available for download. Browse through, choose a relevant business plan, and download it for inspiration and guidance.  

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Download a Free Business Plan Template

What is a business plan.

The written plan of goals you want to achieve with your business, and how you want to achieve them, is called a business plan. It is a decision-making tool used when beginning or extending a venture.

Any new business requires a business plan to ensure that the business can make a profit. Fund-seeking entrepreneurs use a formal business plan to convince investors to contribute towards the capital of the business.

Existing businesses – looking to expand or change the business – also use business plans to prospect for new business, attract key employees or deal with suppliers. By revising their business plan regularly, existing companies can devise strategies to manage their companies better.

Most commonly, a business plan is used to apply for a bank loan to fund a business. To learn how to create a business plan for a bank in South Africa, see FNB and Standard Bank’s business plan guidelines. You can also download Standard Bank’s free business plan template in Word or PDF format.

A business plan consists of three primary parts:

• The business concept – details about the industry, the structure of the business, the product or service and the strategy for the success of the business.
• The marketplace section – an analytical description of potential customers and the strategy for achieving success against competitors.
• The financial section – the income and cash flow statement, balance sheet and other financial information.

The length of a business plan varies depending on the nature of the business and the purpose of the business plan. Typically, a business plan is 15 to 20 pages long. It usually details the goals for the business for the next three to five years.

An important part of compiling a business plan is in-depth research into the market and industry. Try to gain as much insight into the market you are targeting by talking to business owners, suppliers, potential customers, existing customers, staff members, business experts, etc. Also, research the industry online.

Business plan format

Although there are several types, the key components of all business plans are essentially the same. The format varies based on who the intended reader of the business plan is. Here is an example of a standard business plan format:

1. Table of Contents (1 page)

The table of contents page should include the correct page numbers of the sections of the business plan. Therefore, it is best to write this page last. In addition to the table of contents page, the plan must also have a cover and a title page.

2.  Executive Summary (2 pages)

The purpose of the executive summary of a business plan is to entice the reader to read the rest of the plan. The executive summary is an overview of the key aspects of the plan. It should be compelling but also concise.

The executive summary should include:

• the business concept (a description of the business, product, market and target market);
• key financial aspects (sales, profits, cash flows, investment returns and capital requirements); and
• a short company overview (type of company, date formed, owners and key personnel and achievements).

3. Company Overview (1 – 2 pages)

This section is a high-level overview of the company and the industry in which it operates. It is a description of the business, the product and the industry.

The following should be included in the company overview:

• The name of the company and the type of ownership and registration;
• Details about the business location (address, zoning, reason for choosing location, monthly rentals, etc.)
• Significant assets and financial contributions to the business;
• The mission statement of the business;
• Company objectives and goals;
• The main features of the industry in which the business will operate;
• The most important company strengths and core competencies;
• An explanation of the product, target market and profitability of the plan.

4. The Opportunity, Industry and Market Description (2 – 3 pages)

The research you conducted will come into play in this section. This section offers a detailed explanation of the market and industry and the business’ position therein.

They key is to determine who your target market is through a market analysis. Then clearly explain how your products/services will fulfil the needs of your target market. A market analysis also helps to determine pricing, distribution strategies and growth potential within the industry.

Describe the following:

• The opportunity – the gap in the market;
• The industry – the forces affecting the industry (i.e. obstacles to entry, customers, suppliers, substitute products and competition); and
• The market – insights into the target market (i.e. size, growth and trends).

5. Strategy (1-2 pages)

Detail your positioning strategy and how the business will compete in the chosen market. In other words, what is unique about your product/service and how will the target market benefit from what you have to offer.

6. Business Model Explanation (1 page)

The business model depicts how the business will make money/profit. A business model covers the following aspects:

• Sources of revenue;
• Costs involved in generating the revenue;
• The profitability of the business (revenue minus costs);
• The investment required to get the business up and running; and
• Success factors and assumptions for making the profit model work.

7. Management and Organisation (2 pages)

The biographies of the members of your management team and their roles in the business. Who will be responsible for running the business and why are they well-suited to the task?

This section should include:

• The founders of the company and their qualifications and experience;
• The day-to-day management team and their individual competencies and responsibilities;
• The type of support staff needed to run the business; and
• An organisational chart to show the management hierarchy.

8. Marketing Plan (2 – 3 pages)

The marketing plan is a comprehensive explanation of your marketing strategy. In other words, how will you sell your service/product to your target market?

Your marketing plan should include:

• The value of your product/service to customers;
• A detailed description of the target market;
• How you want your target market to perceive your product/service;
• The pricing strategy for the product/service;
• Sales and distribution channels that will be used to get the product/service to the customer; and
• The promotion strategy (budget, public relations activities, promotions, advertising, etc.).

9. Operational Plan (2 pages)

The operational plan is a description of how the business will function. Include a description of the following:

• The operating cycle – how the business will deliver the service or create and sell the product;
• How skills and materials will be sourced;
• Which tasks will be outsourced and how business relationships will be managed; and
• The cash payment cycle of the business.

10. Financial Plan (3 – 5 pages)

A very important part of any business plan is the financial plan. It is a reasonable projection of the company’s financial future.

A good financial plan will determine how much capital the business needs to launch and/or grow. This section is especially important to potential investors and banks – who will determine the odds for the continued survival of the company based on this information.

A financial plan should include:

• Start-up expenses and capital: What it would cost to start/grow the company and how the money will be generated.
• Profit and loss projections/income statement : Financial sales and expenses projections (i.e. income, cost of goods, gross profit margin, net profit, total expenses, etc.).
• Cash flow projection: Reflects how much cash will be needed to cover expenses and when it will be needed. The cash flow projection amounts to a profit or loss at the end of each month or year.
• A balance sheet: A summary of the business’ equity, assets and liabilities.
• A break-even calculation

Income statements and cash flow projections must be generated for every month of the first year, every quarter of the second year and annually for every year thereafter. The balance sheet is only generated on an annual basis.

Short summaries of the analyses of the income statement, cash flow projection and balance sheet must also be included. Do not include too much detail in this section. Additional projections, charts and calculations must be added to the Appendix.

11. Appendix

Additional reference documents are included in the appendix. This could include:

• Brochures and advertising materials;
• Industry studies and market research;
• Plans and blueprints;
• Photos and maps of location;
• Magazine or other articles;
• Detailed lists of equipment owned or to be purchased;
• Copies of leases and contracts;
• Letters of support from future customers;
• List of assets available as collateral for a loan; and/or
• Detailed financial calculations and projections.

Find more business plan examples and templates from Entrepreneur Magazine .

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This Business Plan template can help you with the following – formulate a clear statement of your business mission and vision, put together a roadmap and timetable for achieving your goals and objectives and clear description of your marketing strategies. (Courtesy: New Discovery Business Solutions)

Your business plan is the blue-print of your business and provides a roadmap for future development. Your business plan holds a clear statement of your business mission and vision and provides a roadmap and timetable for achieving your goals and objectives

Download the Business Plan template to:

• Test out a new idea to see if it holds real promise of success
• Help you obtain financing and attract potential investors
• Identify and arrange strategic alliances

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Free business plan template PDF

Do you have that burning sensation of starting your own company and do not know from where to start? Well, the first step should be coming up with a plan. Coming up with a business plan template can be an uphill task, especially if it is your first start-up or you have financial challenges. However, there is no specific way to write a strategy so long as the program meets your specific needs. The layout may not always be a tool to raise capital or attract investors, but it will come in handy to help you understand your enterprise and make a decision, whether it is viable or not. Check out how to fill the business plan template PDF below.

A business plan template PDF will go a long way in helping you organize your thoughts. A simple business plan template offers a good outline on where to start instead of just staring at a blank page and wondering from where to begin. It will also provide instructions on every step to make your work easier. Be cautious as you will meet people trying to charge you for a template, whereas, here, we have a small business plan template that will help you get started. Read on below for more information on how to come up with a startup business plan template.

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Free business plan template

Below is a step-by-step strategy on how to come up with a good entrepreneurship business plan PDF.

READ ALSO: Business news: All Dion Wired stores close doors for the last time

What is a business plan template?

This is a layout document that highlights the core objectives and illustrates your intentions on how to accomplish them within a stipulated period. It is geared to come up with ways to generate capital to sustain the enterprise.

How do you write a business plan?

Coming up with a strategy is the first step to your company’s success. A good strategy goes a long way in ensuring that your goals remain on track over time. Your intentions can and will change depending on unpredictable circumstances that you may encounter along the way.

What is included in a business plan?

For you to come up with an elaborate strategy, the best business plans PDF should consider the following things:

Great insight on the best examination writing skills

Executive summary

This is the most critical part, as it consists of the general layout of your company. It is what many potential investors and financial lenders will look at to decide whether to break the deal or invest with you. A good executive summary should include the following:

• Description of products and services
• Summary of growth potential
• Summary of objectives
• Summary of funding requirements

READ ALSO: Stephen Hightower: From cleaner to owner of lucrative oil company

Company description

This chapter outlines the operational and legal structure of your company, mission statement, financing requirements, the history behind the company, and the management team. It is essential to list the notable achievements, current stage, the status of the enterprise, the founders of the company, as well as its geographical location and target market.

Products and services

In this section, you are supposed to list the products and services you intend to deal with and how to create, assemble, and deliver them. Indicate the current pricing for your products and services and the past test results and give an anticipated layout of the products and services you would wish to roll out.

Free company profile template: What you need to know

Market analysis

The page indicates your target customers, their needs that you want to fulfil, and the current trends of customers in terms of growth and buying behaviour.

Marketing and sales plan

This section allows you to give a brief description of how you will sell your products and services. It includes, among other things, the following:

• Marketing budget
• Channels to be used
• Results of the previous test conducted
• Target customers
• Product and brand positioning
• Competition and market research

Operational plan

Here, you have a chance to prove and demonstrate your understanding regarding the current market trends. It should capture the following:

• Supply chain management
• Technological needs
• Space and facilities needed
• Legal and accounting needs
• Quality control checks

Financial plan

Clearly define and calculate the economic variables necessary for the creation and expansion of your idea, including the expenses, sales forecast, cash flow assumptions, and personnel.

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READ ALSO : 5 best small business funding resources in South Africa 2020

Include any other information not captured above, such as:

• Resumes of directors and primary staff
• Legal documents
• Letters of reference

How do you write a business plan PDF?

• Make your executive summary short and simple
• Showcase the chosen management structure
• Make your products shine
• Display your proposed marketing and sales strategies
• Review the financial projections and the great potential future of the business

What is the business plan PDF?

This is a written document describing the nature of the enterprise, the sales and marketing strategy, and the financial background, and it contains a projected profit and loss statement.

What is the purpose of a business plan?

• Maintaining focus
• Securing outside financing
• Fueling ambitions and mapping growth
• Enlightening executive talent

To come up with a good plan, have a business plan template PDF and fill all the information needed. Also, it is crucial to be flexible as things keep changing with time. Financial projections change, marketing strategies change, and you can as well improve your products and services.

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Starting Security Company in South Africa – Business Plan (PDF, Word & Excel)

Posted by BizBolts | All Articles , Business Ideas , Business Plans

As the security landscape continues to evolve in South Africa, the demand for professional and reliable security services has never been higher. In an era marked by uncertainty and a growing need for safety and protection, starting a security company in this dynamic environment is not only a viable venture but also a remarkably profitable one. With attractive profit margins and an ever-increasing demand for top-tier security solutions, the security industry in South Africa presents a unique opportunity for entrepreneurs looking to make a substantial impact and reap the rewards.

Due to the increasing crime rates and general insecurity of many people in South Africa there has been an increase in the demand for security products and services. Property related crimes, car hijacks, and other serious crime reports result in the increase the country’s insecurity especially in the major cities. As such, there is a need for more security service providers. In addition, the country’s police force is usually overwhelmed by the number of criminal activities that take place in the country, so the need for more security services cannot be understated. This article will outline how to start a security business in South Africa, and the security company business plan – PDF, Word and Excel.

MARKET RESEARCH

Market research is a crucial step when contemplating the establishment of a security company in South Africa. It forms the bedrock upon which a solid business strategy can be constructed, encompassing a comprehensive understanding of the local security industry, its current state, and its growth trends. In South Africa, this industry encompasses diverse services such as physical security, electronic surveillance, and cybersecurity. Additionally, it’s essential to identify your target market, the specific industries, and regions you aim to serve, as South Africa’s security needs can vary widely, from residential clients to government agencies and private institutions. Furthermore, a keen assessment of the competitive landscape is imperative. An analysis of existing security companies within your chosen niche, their offerings, pricing strategies, and customer feedback, will enable you to differentiate your venture and identify market gaps. Complying with the stringent regulatory requirements in South Africa is another key aspect. Understanding and adhering to the legalities and licensing processes is essential for operating within the bounds of the law and building trust with potential clients. In addition, staying attuned to market trends, emerging technologies, and the evolving preferences of your target audience is pivotal. Embracing the latest advancements in surveillance systems, access control, and alarm monitoring ensures your company remains competitive. A thorough understanding of your clients’ security needs and a well-structured pricing strategy are equally critical.

LOCATION & PREMISES

The location and premises of your security company is an important decision to make before you start your business. It’s also important that you choose the right location if you want to set up a successful security company business. Also, your offices should be close to your target market. In particular, it is important to consider who your potential customers are and how they can help drive your business. When selecting a location for your security services company there are many factors you need to keep in mind. For example, you should consider the demographics of the people and companies who you intend to serve as well as their communities. A slightly older or upscale population with a higher-than-average income  is more likely to make use of your security services. When locating your offices there are several possible locations, including shopping centres, malls, and the CBD. Setting up your office close to places that typically have potential for traffic will be ideal. It is important to be strategic about your neighbouring businesses as well because you are more than likely going to feed into each other instead of competing. If you set up your business in an overly saturated area, the likelihood that your business will succeed will be very low. Your security company business plan should include the costs of renting or leasing the premises.

PRODUCTS AND SERVICES

Your target niche will determine the kind of products and services you will offer. Also, these products and services will be determined by the type of security company you set up. As a new security services’ company it may be best to start by providing specialized services in one area that you know well to ensure that you can provide excellent services. From then on, you can build your reputation in one niche and then grow across other disciplines. You can start by providing VIP protection services to high profile clients, offer guarding services to schools, homes or you can offer CCTV installation and monitoring. Your security company business plan should outline the various security services and packages you can provide as well as the costs associated with them. Services offered by security companies in South Africa include security guards, mobile patrol, executive protection, K9 Security, armed escort services among others. Security companies in South Africa also offer a variety of products including security alarms, CCTV Systems, access control systems among others. If you offer security services, your business will have to be registered with the Private Security Industry Regulatory Authority   (PSIRA) as this a legal requirement for security companies in South Africa.

PRIVATE SECURITY INDUSTRY REGULATORY AUTHORITY (PSIRA) REGISTRATION

Any entity or person/company wishing to provide security services or work as a security officer in South Africa must be registered with PSIRA. To register with the Private Security Industry Regulatory Authority (PSIRA) in South Africa, you will have to fill an application form, accompanied by several key requirements. These include submitting a comprehensive business plan outlining your security company’s operations and objectives and providing company registration documents. Each director of the company must also provide their ID document, CV, and a PSIRA registration certificate. Additionally, a tax clearance certificate demonstrating compliance with tax regulations is mandatory. Furthermore, having a physical office with basic equipment and a registered business phone number is necessary to ensure operational legitimacy and accountability. You must also pay PSIRA business registration fees of R7500.  Meeting these requirements is essential to obtain PSIRA registration and operate lawfully within the sector.

STAFF & MANAGEMENT

As a client-focused security services company it’s important that you hire employees that are competent and efficient. Your employees should be passionate about their jobs and taking care of your clients. If you want to hit the ground running it’s better to hire a team of people who already have experience in the security services business. Your employees should be able to provide quality services and serve customers efficiently on a regular basis.  Inexperienced staff members may need to go under extensive training before they can be given critical or high risk jobs. Dealing with crime and enforcing order can be dangerous. It is important to ensure that you take the proper precautions when hiring out potential staff members. Depending on the size of your business, the actual number of your staff will vary however, you will need a reasonable number of sales representatives, security officers, office staff, as well as management. Your security services business plan should cater for the salaries and day to day operational expenses of your business. The operations of your security business will depend on the specific services you choose to offer.

Some of the average day-to-day activities of a security company involve:

• Communicating with customers
• Guarding premises and controlling access,
• Inspecting the property and doing security checks at a given client location
• Managing Staff
• Marketing and advertising

When it comes to running a security company you should always remain aware and alert at all times. The security industry is a very sensitive field. Criminal activities are high in South Africa so you should ensure that your staff is well trained to avoid or reduce injuries or even death. Also, make sure you verify and do a background check for every person you hire. It is easy for your company to get infiltrated by the wrong crowd. Take extra care when assigning security officers for different jobs. Injuries or death on duty can be detrimental to your business. As a security company it is important to prioritise the safety of your workers as well as the safety of your clients. In addition, you must adhere to the industry related laws and safety regulations in order for your security business to succeed.

BUDGETING AND FINANCIAL PLANNING

Budgeting and financial planning are cornerstone elements in the successful launch and operation of a security company in South Africa. These financial strategies are pivotal for not only managing startup costs but also maintaining a healthy cash flow and ensuring long-term profitability. To begin, it’s imperative to meticulously identify the startup costs, encompassing licensing fees, legal expenses, equipment investments, vehicles, office space rentals, insurance, marketing expenditures, and initial employee salaries. This comprehensive list serves as a fundamental guide for estimating the initial financial requirements.

In tandem with startup costs, it’s essential to develop a detailed budget that encompasses ongoing operational expenses. These monthly outlays include rent, utilities, insurance premiums, employee payroll, marketing initiatives, and equipment maintenance. By meticulously forecasting these expenses, you can establish a clear understanding of your security company’s day-to-day financial obligations. Moreover, revenue projections are a key facet of financial planning. These forecasts are based on your target market, pricing strategies, contract sizes, client volume, and potential seasonal fluctuations in demand. Realistic revenue projections allow you to set achievable financial goals for your business.

Effective cash flow management is paramount to ensure your security company’s financial stability. It’s imperative to track incoming revenue and outgoing expenses through a comprehensive cash flow statement. This proactive approach aids in identifying potential cash flow gaps and implementing strategies to mitigate them. Additionally, you should consider funding sources, whether through personal savings, loans, investments, or external funding options. Careful evaluation of loan terms and interest rates is essential to align these financial resources with your business goals. Furthermore, budgeting for financial contingencies provides a safety net for unexpected expenses or disruptions, such as equipment breakdowns or economic downturns. Regular financial analysis, tax planning, profitability goals, and investments in growth round out the key components of a robust budgeting and financial planning strategy for your security company in South Africa.

MARKETING PLAN

Effective marketing strategies are pivotal to the success of your security company in South Africa. In a competitive industry where trust and credibility are paramount, it’s essential to create a strong presence and reach your target audience effectively. Networking is a vital part of marketing. Forge partnerships with complementary businesses like property management companies or event organizers, attend industry events, and join local business associations to expand your network and gain referrals. In a competitive industry like security, establishing a robust online presence is paramount. This begins with creating a professional website and maintaining active social media profiles, which serve as key platforms for showcasing your services, certifications, and client testimonials. Additionally, optimizing your website for search engines through effective Search Engine Optimization (SEO) techniques will ensure your company ranks well in relevant search results, driving organic traffic from individuals actively seeking security services. Online advertising through platforms like Google Ads and social media can rapidly increase your visibility. Targeting ads to specific demographics, locations, and interests ensures you reach a relevant audience.

Community involvement is another strategy to consider, as it shows your commitment to the local community and enhances your company’s reputation. Implement a referral program that rewards clients or partners who refer new business to your security company. Word-of-mouth referrals remain a potent marketing tool, and flyers can supplement these efforts by distributing them strategically in your target areas.  Approaching individuals and companies directly can be a highly personalized and effective marketing strategy. Attend local business networking events and security trade shows to meet potential clients and partners. Establishing face-to-face connections can help you build trust and credibility in the industry. Moreover, reach out to businesses and organizations directly, offering to provide security assessments and consultations. Demonstrating your expertise in person can lead to valuable business relationships and contracts. Site visits can further strengthen relationships with potential clients by providing an opportunity to showcase your services and establish a personal connection.

The need for security products and services is driven by insecurity and a high crime rate. Given that the incidence of crime is high in the country the demand for security services tends to be very high as well. There is a number of individuals, families and various other companies and organisations that are in need of security services. There are a lot of high profile people that require security services too. Also, there are plenty of public events, such as wedding ceremonies, festivals, parties, concerts and other intimate gatherings that will need security services. Thus, there will always be a need for security services.  A proper marketing strategy should be included in the security company business plan.

IS A SECURITY SERVICES BUSINESS A GOOD INVESTMENT?

The security industry is a competitive industry with a number of large and small companies dominating the market. However, it is still possible for you to own your own security services brand. Building your own brand from scratch can be rewarding if done well. Investing in a security company can be a profitable venture, but obviously, this will depend on many factors such as your target market, costs, as well as management. Apart from the obvious advantages of becoming financially independent and becoming your own boss, running a security company business can be a rewarding way of uplifting your community.

The South African market is one of the leading emerging economies on the African continent but the country is riddled with crime. However, the crime rate in the country presents various business opportunities when it comes to the security industry and there is also potential for high growth. Whether you are a young entrepreneur, a professional seeking to start your own business or someone who needs a retirement plan, investing in a security business is something worth considering. One thing that can set you apart before investing in any venture is developing a business plan. A well thought out security company business plan will help you in both the short and long term. Also, there are various risks associated with running a security business, like any other business venture, your security services business plan should clearly outline these risks and the different ways to minimise them. With a business plan you can determine whether or not your business concept is viable or not since it will force you to do thorough research.

KEYS TO PROFITABILITY

Ensuring profitability is paramount for the long-term success of your security company in South Africa. To achieve and sustain profitability, you must adopt a multifaceted approach that covers various aspects of your business operations. Effective cost management is the cornerstone, requiring a thorough examination of your expenses to identify areas where you can trim overhead costs without compromising the quality of your services. This might involve renegotiating supplier contracts, optimizing staffing levels, or making cost-effective technology investments. Pricing strategies are equally pivotal, as you need to strike a balance between competitiveness and profitability. It’s essential to evaluate market rates, monitor your competitors’ pricing, and factor in the unique value your company brings to clients. Additionally, maintaining strong client relationships is instrumental. Client retention is more cost-effective than client acquisition, making it imperative to consistently deliver exceptional service, address concerns promptly, and communicate regularly with your clients to foster loyalty.

Exploring opportunities for upselling and cross-selling additional services to your existing clients can significantly boost revenue. This can be achieved by identifying complementary offerings, such as cybersecurity services alongside physical security, and presenting them as value-added options. Efficiency in your operations is another crucial aspect. Streamlining your processes through training, scheduling optimization, and technology integration can reduce labor costs and enhance overall profitability. Marketing and branding efforts should never be underestimated, as effective promotion can lead to increased business opportunities. Consistently promote your security company through various channels, both online and offline, while enhancing your branding to convey professionalism and trustworthiness. Diversification is also a key strategy, as expanding into related areas like cybersecurity or alarm monitoring can open new revenue streams and make your business more resilient to market fluctuations. Quality assurance, financial analysis, adaptability, and investment in technology complete the arsenal of strategies needed to secure profitability for your security company in the dynamic South African market.

PRE-WRITTEN SECURITY COMPANY BUSINESS PLAN (PDF, WORD AND EXCEL): COMPREHENSIVE VERSION, SHORT FUNDING/BANK LOAN VERSION AND AUTOMATED FINANCIAL STATEMENTS

For an in-depth analysis of the security company business in South Africa, purchase our security company business plan. We decided to introduce the business plans after noting that many South Africans were venturing into the security company business without a full understanding of the industry, market, how to run the business, the risks involved, profitability of the business and the costs involved, leading to a high failure rate of their businesses.

Our business plan will make it easier for you to launch and run a security services business successfully, fully knowing what you are going into, and what’s needed to succeed in the business. It will be easier to plan and budget as the security company business plan will lay out all the costs involved in setting up and running the business. The business plan is designed specifically for the South African market.

USES OF THE SECURITY COMPANY BUSINESS PLAN (PDF, WORD AND EXCEL)

The security company business plan can be used for many purposes including:

• Raising capital from investors/friends/relatives
• Applying for a bank loan
• Start-up guide to launch your security company business
• As a security company project proposal
• Assessing profitability of the security services business
• Finding a business partner
• Assessing the initial start-up costs so that you know how much to save
• Manual for current business owners to help in business and strategy formulation

CONTENTS OF THE SECURITY COMPANY BUSINESS PLAN (PDF, WORD AND EXCEL)

The business plan includes, but not limited to:

• Market Analysis
• Industry Analysis
• 5 Year Automated Financial Statements [ Income statements, cash flow statements, balance sheets, monthly cash flow projections (3 years monthly cash flow projections, the remaining two years annually),break even analysis, payback period analysis, start-up costs, financial graphs, revenue and expenses, Bank Loan Amortisation]
• Marketing Strategy
• Risk Analysis
• SWOT & PEST Analysis
• Operational Requirements
• Operational Strategy
• Why some South Africans in the security business fail, so that you can avoid their mistakes
• Ways to raise capital to start your security services business in South Africa

The Security Company Business Plan package consist of 4 files

• Security Company Business Plan – PDF file (Comprehensive – 81 pages)
• Security Company Business Plan – Editable Word File (Comprehensive – 81 pages)
• Security Company Business Plan Funding Version – Editable Word File (Short version for applying for a loan – 46 pages)
• Security Company Business Plan Automated Financial Statements – (Editable Excel file)

Testimonial 1

Many thanks to the BizBolts team for putting together a fantastic business plan, I could not have done this business plan on my own. I managed to get funding from investors to start my butchery business using your business plan.

Testimonial 4

The business plan was very helpful, you did a great job of taking ideas and putting them into words as well as pointing out other aspects of the business plan I wouldn’t have thought of. I got funding using your business plan and it’s now 4 months since I started my poultry business, and everything is going well.

Testimonial 5

The BizBolts poultry business plan led us down the path from start to finish. Contact details of suppliers of key requirements were included in the business plan. It helped us crystallize our strategy, and the business plan was well received by the bank.

Testimonial 2

I am extremely pleased with the business plan and financial statements. The business plan is very detailed & it meets my requirements. I feel better equipped with tools that can help me secure funding.  I would have no hesitation of recommending your business plans to other people.

Testimonial 7

Thank you BizBolts for the business plan. I received the business plan immediately after payment, it was money well spent ! I was able to easily edit the business plan. After using the BizBolts business plan, I can wholeheartedly recommend their products and skills.

Testimonial 6

It is with excitement and pleasure to inform you that I have been successful in securing a loan from my bank. This would not have been possible if not for the BizBolts Business Plan. Thank you for your help, my dreams are now coming true.

Testimonial 3

The business plan has a highly professional look and feel. The research really helps me look deep into the market that I am targeting, it’s well suited for the South African market. The business plan clearly outlined everything I need to start the business and the costs. It’s now easier to budget and plan. Thank you very much.

GET THE SECURITY COMPANY BUSINESS PLAN (PDF, WORD AND EXCEL) - R500 Only.

We decided to make the business plan affordable to anyone who would want to start the business, and the price for the pre-written business plan is only 500 Rand.

We have several payment methods which you can use.

Payment Method 1 (Visa card, Mastercard, Credit card, Debit Card)

Click  Buy Now  below to purchase. After you have purchased, you will instantly see the download link for the business plan package on the screen. We will also email you the download link. Get instant access to the business plan now!

If you want to purchase multiple business plans at once using Visa Card/MasterCard then  click here: Business Plans Store

The business plan package is a zipped compressed file containing the PDF, Word and Excel documents. To open the package after downloading it, just right click, and select Extract All. If you have any problems in downloading and opening the files, email us on [email protected] and we will assist you.

Payment Method 2 (Instant EFT - FNB, Absa, Standard Bank, Nedbank, CapitecBank, Investec, TymeBank and African Bank. )

If you want to purchase multiple business plans at once using Instant EFT then  click here: Business Plans Store

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Call/Whatsapp us on +27606334830 for the other payment methods. (Whatsapp us by clicking the link https://wa.me/27606334830 ). Email: [email protected] .

About The Author

BizBolts (Pty) Ltd is a business research company based in Johannesburg, South Africa. We sell prewritten business plans for various industries including livestock production, crop farming and retail businesses. BizBolts also publishes articles on business ideas, business news, business tips, personal finance, and entrepreneur profiles.

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Free PDF Business Plan Templates and Samples

By Joe Weller | September 9, 2020

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We’ve gathered the most useful collection of business plan PDF templates and samples, including options for organizations of any size and type.

On this page, you’ll find free PDF templates for a simple business plan , small business plan , startup business plan , and more.

Simple Business Plan PDF Templates

These simple business plan PDF templates are ready to use and customizable to fit the needs of any organization.

Simple Business Plan Template PDF

This template contains a traditional business plan layout to help you map out each aspect, from a company overview to sales projections and a marketing strategy. This template includes a table of contents, as well as space for financing details that startups looking for funding may need to provide. 

Download Simple Business Plan Template - PDF

Lean Business Plan Template PDF

This scannable business plan template allows you to easily identify the most important elements of your plan. Use this template to outline key details pertaining to your business and industry, product or service offerings, target customer segments (and channels to reach them), and to identify sources of revenue. There is also space to include key performance metrics and a timeline of activities. 

Download Lean Business Plan Template - PDF

Simple 30-60-90 Day Business Plan Template PDF

This template is designed to help you develop and implement a 90-day business plan by breaking it down into manageable chunks of time. Use the space provided to detail your main goals and deliverables for each timeframe, and then add the steps necessary to achieve your objectives. Assign task ownership and enter deadlines to ensure your plan stays on track every step of the way.

Download Simple 30-60-90 Day Business Plan Template

PDF | Smartsheet

One-Page Business Plan PDF Templates

The following single page business plan templates are designed to help you download your key ideas on paper, and can be used to create a pitch document to gain buy-in from partners, investors, and stakeholders.

One-Page Business Plan Template PDF

Use this one-page template to summarize each aspect of your business concept in a clear and concise manner. Define the who, what, why, and how of your idea, and use the space at the bottom to create a SWOT analysis (strengths, weaknesses, opportunities, and threats) for your business. 

Download One-Page Business Plan Template

If you’re looking for a specific type of analysis, check out our collection of SWOT templates .

One-Page Lean Business Plan PDF

This one-page business plan template employs the Lean management concept, and encourages you to focus on the key assumptions of your business idea. A Lean plan is not stagnant, so update it as goals and objectives change — the visual timeline at the bottom is ideal for detailing milestones. 

Download One-Page Lean Business Plan Template - PDF

One-Page 30-60-90 Day Business Plan Template

Use this business plan template to identify main goals and outline the necessary activities to achieve those goals in 30, 60, and 90-day increments. Easily customize this template to fit your needs while you track the status of each task and goal to keep your business plan on target. 

Download One-Page 30-60-90 Day Business Plan Template

For additional single page plans, including an example of a one-page business plan , visit " One-Page Business Plan Templates with a Quick How-To Guide ."

Small Business Plan PDF Templates

These business plan templates are useful for small businesses that want to map out a way to meet organizational objectives, including how to structure, operate, and expand their business.

Simple Small Business Plan Template PDF

A small business can use this template to outline each critical component of a business plan. There is space to provide details about product or service offerings, target audience, customer reach strategy, competitive advantage, and more. Plus, there is space at the bottom of the document to include a SWOT analysis. Once complete, you can use the template as a basis to build out a more elaborate plan. 

Download Simple Small Business Plan Template

Fill-In-the-Blank Small Business Plan Template PDF

This fill-in-the-blank template walks you through each section of a business plan. Build upon the fill-in-the-blank content provided in each section to add information about your company, business idea, market analysis, implementation plan, timeline of milestones, and much more.

Download Fill-In-the-Blank Small Business Plan Template - PDF

One-Page Small Business Plan Template PDF

Use this one-page template to create a scannable business plan that highlights the most essential parts of your organization’s strategy. Provide your business overview and management team details at the top, and then outline the target market, market size, competitive offerings, key objectives and success metrics, financial plan, and more.

Download One-Page Business Plan for Small Business - PDF

Startup Business Plan PDF Templates

Startups can use these business plan templates to check the feasibility of their idea, and articulate their vision to potential investors.

Startup Business Plan Template

Use this business plan template to organize and prepare each essential component of your startup plan. Outline key details relevant to your concept and organization, including your mission and vision statement, product or services offered, pricing structure, marketing strategy, financial plan, and more.

‌Download Startup Business Plan Template

Sample 30-60-90 Day Business Plan for Startup

Startups can use this sample 30-60-90 day plan to establish main goals and deliverables spanning a 90-day period. Customize the sample goals, deliverables, and activities provided on this template according to the needs of your business. Then, assign task owners and set due dates to help ensure your 90-day plan stays on track.

‌Download Sample 30-60-90 Day Business Plan for Startup Template 

For additional resources to create your plan, visit “ Free Startup Business Plan Templates and Examples .”

Nonprofit Business Plan PDF Templates

Use these business plan PDF templates to outline your organization’s mission, your plan to make a positive impact in your community, and the steps you will take to achieve your nonprofit’s goals.

Nonprofit Business Plan Template PDF

Use this customizable PDF template to develop a plan that details your organization’s purpose, objectives, and strategy. This template features a table of contents, with room to include your nonprofit’s mission and vision, key team and board members, program offerings, a market and industry analysis, promotional plan, financial plan, and more. This template also contains a visual timeline to display historic and future milestones.

Download Nonprofit Business Plan Template - PDF

One-Page Business Plan for Nonprofit Organization PDF 

This one-page plan serves as a good starting point for established and startup nonprofit organizations to jot down their fundamental goals and objectives. This template contains all the essential aspects of a business plan in a concise and scannable format, including the organizational overview, purpose, promotional plan, key objectives and success metrics, fundraising goals, and more.

Download One-Page Business Plan for Nonprofit Organization Template - PDF

Fill-In-the-Blank Business Plan PDF Templates

Use these fill-in-the-blank templates as a foundation for creating a comprehensive roadmap that aligns your business strategy with your marketing, sales, and financial goals.

Simple Fill-In-the-Blank Business Plan PDF

The fill-in-the-blank template contains all the vital parts of a business plan, with sample content that you can customize to fit your needs. There is room to include an executive summary, business description, market analysis, marketing plan, operations plan, financial statements, and more. 

Download Simple Fill-In-the-Blank Business Plan Template - PDF

Lean Fill-In-the-Blank Business Plan PDF

This business plan is designed with a Lean approach that encourages you to clarify and communicate your business idea in a clear and concise manner. This single page fill-in-the-blank template includes space to provide details about your management team, the problem you're solving, the solution, target customers, cost structure, and revenue streams. Use the timeline at the bottom to produce a visual illustration of key milestones. 

Download Fill-In-the-Blank Lean Business Plan Template - PDF

For additional resources, take a look at " Free Fill-In-the-Blank Business Plan Templates ."

Sample Business Plan PDF Templates

These sample business plan PDF templates can help you to develop an organized, thorough, and professional business plan.

Business Plan Sample 

This business plan example demonstrates a plan for a fictional food truck company. The sample includes all of the elements in a traditional business plan, which makes it a useful starting point for developing a plan specific to your business needs.

Download Basic Business Plan Sample - PDF

Sample Business Plan Outline Template

Use this sample outline as a starting point for your business plan. Shorten or expand the outline depending on your organization’s needs, and use it to develop a table of contents for your finalized plan.

Download Sample Business Plan Outline Template - PDF

Sample Business Financial Plan Template

Use this sample template to develop the financial portion of your business plan. The template provides space to include a financial overview, key assumptions, financial indicators, and business ratios. Complete the break-even analysis and add your financial statements to help prove the viability of your organization’s business plan.

Download Business Financial Plan Template

PDF  | Smartsheet

For more free, downloadable templates for all aspects of your business, check out “ Free Business Templates for Organizations of All Sizes .”

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Business Plan: What It Is and How to Write One in 9 Steps

Business plans aren’t just for entrepreneurs who need to secure funding—they can help you plan and evaluate new ideas or growth plans, too. Find out how to write a business plan and get the most out of the process in this comprehensive guide.

A great business plan can help you clarify your strategy, identify potential roadblocks, determine necessary resources, and evaluate the viability of your idea and growth plan before you start a business .

Not every successful business launches with a formal business plan, but many founders find value in the process. When you make a business plan, you get to take time to step back, research your idea and the market you’re looking to enter, and understand the scope and the strategy behind your tactics.

Learn how to write a business plan with this step-by-step guide, including tips for getting the most of your plan and real business plan examples to inspire you.

What is a business plan?

A business plan is a strategic document that outlines a company’s goals, strategies for achieving them, and the time frame for their achievement. It covers aspects like market analysis , financial projections, and organizational structure. Ultimately, a business plan serves as a roadmap for business growth and a tool to secure funding.

Often, financial institutions and investors need to see a business plan before funding any project. Even if you don’t plan to seek outside funding, a well-crafted plan becomes the guidance for your business as it scales.

The key components of a business plan

Putting together a business plan will highlight the parts of your company’s strategy and goals. It involves several key business plan components that work together to show the roadmap to your success.

Your business plan’s key components should include: 

• Executive summary: A brief overview of your entire plan.
• Company description: An explanation of what your business does and why it’s unique. 
• Market analysis: Research on your industry, target market, and competitors.
• Organization and management: Details about your business structure and the people running it.
• Products or services: A description of what you’re selling and how it benefits customers. 
• Customer segmentation: A breakdown of your target market into different groups.
• Marketing and sales plan: The strategy for promoting and selling your products and services.
• Logistics and operations: An overview of how your business will run its daily activities and manage resources.
• Financials: A complete look at projected income, expenses, and funding needs. 

How to write a business plan in 9 steps

• Draft an executive summary
• Write a company description
• Perform a market analysis
• Outline the management and organization
• List your products and services
• Perform customer segmentation
• Define a marketing plan
• Provide a logistics and operations plan
• Make a financial plan

Few things are more intimidating than a blank page. Starting your business plan with a structured outline and key elements for what you’ll include in each section is the best first step you can take.

Since an outline is such an important step in the process of writing a business plan, we’ve put together a high-level overview to get you started (and help you avoid the terror of facing a blank page).

Once you have your business plan template in place, it’s time to fill it in. We’ve broken it down by section to help you build your plan step by step.

1. Draft an executive summary

A good executive summary is one of the most crucial sections of your business plan—it’s also the last section you should write.

The executive summary distills everything that follows and gives time-crunched reviewers (e.g., potential investors and lenders) a high-level overview of your business that persuades them to read further.

Again, it’s a summary, so highlight the key points you’ve uncovered while writing your plan. If you’re writing for your own planning purposes, you can skip the summary altogether—although you might want to give it a try anyway, just for practice.

An executive summary shouldn’t exceed one page. Admittedly, that space constraint can make squeezing in all of the salient information a bit stressful—but it’s not impossible. 

Your business plan’s executive summary should include:

• Business concept. What does your business do?
• Business goals and vision. What does your business want to accomplish?
• Product description and differentiation. What do you sell, and why is it different?
• Target market. Who do you sell to?
• Marketing strategy. How do you plan on reaching your customers?
• Current financial state. What do you currently earn in revenue?
• Projected financial state. What do you foresee earning in revenue?
• The ask. How much money are you asking for?
• The team. Who’s involved in the business?

2. Write a company description

This section of your business plan should answer two fundamental questions: 

• Who are you?
• What do you plan to do? 

Answering these questions with a company description provides an introduction to why you’re in business, why you’re different, what you have going for you, and why you’re a good investment. 

For example, clean makeup brand Saie shares a letter from its founder on the company’s mission and why it exists.

Clarifying these details is still a useful exercise, even if you’re the only person who’s going to see them. It’s an opportunity to put to paper some of the more intangible facets of your business, like your principles, ideals, and cultural philosophies.

Here are some of the components you should include in your company description:

• Your business structure (Are you a sole proprietorship, general partnership, limited partnership, or incorporated company?)
• Your business model
• Your industry
• Your business’s vision, mission, and value proposition
• Background information on your business or its history
• Business objectives, both short and long term
• Your team, including key personnel and their salaries

Brand values and goals

To define your brand values , think about all the people your company is accountable to, including owners, employees, suppliers, customers, and investors. Now consider how you’d like to conduct business with each of them. As you make a list, your core values should start to emerge.

Your company description should also include both short- and long-term goals. Short-term goals, generally, should be achievable within the next year, while one to five years is a good window for long-term goals. Make sure your goal setting includes SMART goals : specific, measurable, attainable, realistic, and time-bound.

Vision and mission statements

Once you know your values, you can write a mission statement . Your statement should explain, in a convincing manner, why your business exists, and should be no longer than a single sentence.

Next, craft your vision statement : What impact do you envision your business having on the world once you’ve achieved your vision? Phrase this impact as an assertion—begin the statement with “We will” and you’ll be off to a great start. Your vision statement, unlike your mission statement, can be longer than a single sentence, but try to keep it to three at most. The best vision statements are concise.

3. Perform a market analysis

Market analysis is a key section of your business plan, whether or not you ever intend for anyone else to read it.

No matter what type of business you start, whether a home-based business or service-based, it’s no exaggeration to say your market can make or break it. Choose the right market for your products—one with plenty of customers who understand and need your product—and you’ll have a head start on success. 

If you choose the wrong market, or the right market at the wrong time, you may find yourself struggling for each sale. Your market analysis should include an overview of how big you estimate the market is for your products, an analysis of your business’s position in the market, and an overview of the competitive landscape. Thorough research supporting your conclusions is important both to persuade investors and to validate your own assumptions as you work through your plan.

How big is your potential market?

The potential market is an estimate of how many people need your product. While it’s exciting to imagine sky-high sales figures, you’ll want to use as much relevant independent data as possible to validate your estimated potential market.

Since this can be a daunting process, here are some general tips to help you begin your research:

• Understand your ideal customer profile. Look for government data about the size of your target market , learn where they live, what social channels they use, and their shopping habits.
• Research relevant industry trends and trajectory. Explore consumer trends and product trends in your industry by looking at Google Trends, trade publications, and influencers in the space.
• Make informed guesses. You’ll never have perfect, complete information about your total addressable market. Your goal is to base your estimates on as many verifiable data points as necessary.

Some sources to consult for market data include government statistics offices, industry associations, academic research, and respected news outlets covering your industry.

Read more: What is a Marketing Analysis? 3 Steps Every Business Should Follow

SWOT analysis

A SWOT analysis looks at your strengths, weaknesses, opportunities, and threats. 

That involves asking questions like: 

• What are the best things about your company? 
• What are you not so good at? 
• What market or industry shifts can you take advantage of and turn into opportunities? 
• Are there external factors threatening your ability to succeed?

SWOT is often depicted in a grid or otherwise visual way. With this visual presentation, your reader can quickly see the factors that may impact your business and determine your competitive advantage in the market.

Competitive analysis

There are three overarching factors you can use to differentiate your business in the face of competition:

• Cost leadership. You have the capacity to maximize profits by offering lower prices than the majority of your competitors. Examples include companies like Mejuri and Endy .
• Differentiation. Your product or service offers something distinct from the current cost leaders in your industry and banks on standing out based on your uniqueness. Think of companies like Knix and QALO .
• Segmentation. You focus on a very specific, or niche, target market, and aim to build traction with a smaller audience before moving on to a broader market. Companies like TomboyX and Heyday Footwear are great examples of this strategy.

To understand which is the best fit, you’ll need to understand your business as well as the competitive landscape.

You’ll always have competition in the market, even with an innovative product, so it’s important to include a competitive overview in your business plan. If you’re entering an established market, include a list of a few companies you consider direct competitors and explain how you plan to differentiate your products and business from theirs.

For example, if you’re selling jewelry , your competitive differentiation could be that, unlike many high-end competitors, you donate a percentage of your profits to a notable charity or pass savings on to your customers.

If you’re entering a market where you can’t easily identify direct competitors, consider your indirect competitors—companies offering products that are substitutes for yours. For example, if you’re selling an innovative new piece of kitchen equipment, it’s too easy to say that because your product is new, you have no competition. Consider what your potential customers are doing to solve the same problems.

4. Outline the management and organization

The management and organization section of your business plan should tell readers about who’s running your company. Detail the legal structure of your business. Communicate whether you’ll incorporate your business as an S corporation or create a limited partnership or sole proprietorship.

If you have a management team, use an organizational chart to show your company’s internal structure, including the roles, responsibilities, and relationships between people in your chart. Communicate how each person will contribute to the success of your startup.

5. List your products and services

Your products or services will feature prominently in most areas of your business plan, but it’s important to provide a section that outlines key details about them for interested readers.

If you sell many items, you can include more general information on each of your product lines. If you only sell a few, provide additional information on each. 

For example, bag shop BAGGU sells a large selection of different types of bags, in addition to home goods and other accessories. Its business plan would list out those categories and key details about the products within each category.

Describe new products you’ll launch in the near future and any intellectual property you own. Express how they’ll improve profitability. It’s also important to note where products are coming from—handmade crafts are sourced differently than trending products for a dropshipping business, for instance.

6. Perform customer segmentation

Your ideal customer, also known as your target market, is the foundation of your marketing plan , if not your business plan as a whole. 

You’ll want to keep this buyer persona in mind as you make strategic decisions, which is why an overview of who they are is important to understand and include in your business plan.

To give a holistic overview of your ideal customer, describe a number of general and specific demographic characteristics. Customer segmentation often includes:

• Where they live
• Their age range
• Their level of education
• Some common behavior patterns
• How they spend their free time
• Where they work
• What technology they use
• How much they earn
• Where they’re commonly employed
• Their values, beliefs, or opinions

This information will vary based on what you’re selling, but you should be specific enough that it’s unquestionably clear who you’re trying to reach—and more importantly, why you’ve made the choices you have based on who your customers are and what they value.

For example, a college student has different interests, shopping habits, and pricing sensitivity than a 50-year-old executive at a Fortune 500 company. Your business plan and decisions would look very different based on which one was your ideal customer.

Put your customer data to work with Shopify’s customer segmentation

Shopify’s built-in segmentation tools help you discover insights about your customers, build segments as targeted as your marketing plans with filters based on your customers’ demographic and behavioral data, and drive sales with timely and personalized emails.

7. Define a marketing plan

Your marketing efforts are directly informed by your ideal customer. That’s why, as you outline your current decisions and future strategy, your marketing plan should keep a sharp focus on how your business idea is a fit for that ideal customer.

If you’re planning to invest heavily in Instagram marketing or TikTok ads , for example, it makes sense to include whether Instagram and TikTok are leading platforms for your audience. If the answer is no, that might be a sign to rethink your marketing plan.

Market your business with Shopify’s customer marketing tools

Shopify has everything you need to capture more leads, send email campaigns, automate key marketing moments, segment your customers, and analyze your results. Plus, it’s all free for your first 10,000 emails sent per month.

Most marketing plans include information on four key subjects. How much detail you present on each will depend on both your business and your plan’s audience.

• Price: How much do your products cost, and why have you made that decision?
• Product: What are you selling and how do you differentiate it in the market?
• Promotion: How will you get your products in front of your ideal customer?
• Place: Where will you sell your products? On what channels and in which markets?

Promotion may be the bulk of your plan, since you can more readily dive into tactical details, but the other three areas should be covered at least briefly—each is an important strategic lever in your marketing mix.

8. Provide a logistics and operations plan

Logistics and operations are the workflows you’ll implement to make your business idea a reality. If you’re writing a business plan for your own planning purposes, this is still an important section to consider, even though you might not need to include the same level of detail as if you were seeking investment.

Cover all parts of your planned operations, including:

• Suppliers. Where do you get the raw materials you need for production, or where are your products produced?
• Production. Will you make, manufacture, wholesale , or dropship your products? How long does it take to produce your products and get them shipped to you? How will you handle a busy season or an unexpected spike in demand?
• Facilities. Where will you and any team members work? Do you plan to have a physical retail space? If yes, where?
• Equipment. What tools and technology do you require to be up and running? This includes everything from software to lightbulbs and everything in between.
• Shipping and fulfillment. Will you be handling all the fulfillment tasks in-house, or will you use a third-party fulfillment partner?
• Inventory. How much will you keep on hand, and where will it be stored? How will you ship it to partners if required, and how will you approach inventory management ?

This section should signal to your reader that you’ve got a solid understanding of your supply chain, with strong contingency plans in place to cover potential uncertainty. If your reader is you, it should give you a basis to make other important decisions, like how to price your products to cover your estimated costs, and at what point you anticipate breaking even on your initial spending.

9. Make a financial plan

No matter how great your idea is—and regardless of the effort, time, and money you invest—a business lives or dies based on its financial health. At the end of the day, people want to work with a business they expect to be viable for the foreseeable future.

The level of detail required in your financial plan will depend on your audience and goals, but typically you’ll want to include three major views of your financials: an income statement, a balance sheet, and a cash-flow statement. It also may be appropriate to include financial data and projections.

Here’s a spreadsheet template that includes everything you’ll need to create an income statement, balance sheet, and cash-flow statement, including some sample numbers. You can edit it to reflect projections if needed.

Let’s review the types of financial statements you’ll need.

Income statements

Your income statement is designed to give readers a look at your revenue sources and expenses over a given time period. With those two pieces of information, they can see the all-important bottom line or the profit or loss your business experienced during that time. If you haven’t launched your business yet, you can project future milestones of the same information.

Balance sheets

Your balance sheet offers a look at how much equity you have in your business. On one side, you list all your business assets (what you own), and on the other side, all your liabilities (what you owe). 

This provides a snapshot of your business’s shareholder equity, which is calculated as:

Assets - Liabilities = Equity

Cash flow statements

Your cash flow statement is similar to your income statement, with one important difference: it takes into account when revenues are collected and when expenses are paid.

When the cash you have coming in is greater than the cash you have going out, your cash flow is positive. When the opposite scenario is true, your cash flow is negative. Ideally, your cash flow statement will help you see when cash is low, when you might have a surplus, and where you might need to have a contingency plan to access funding to keep your business solvent .

It can be especially helpful to forecast your cash-flow statement to identify gaps or negative cash flow and adjust operations as required.

📚 Read more: Cash Flow Management: What It Is & How To Do It (+ Examples)

Why write a business plan?

Investors rely on business plans to evaluate the feasibility of a business before funding it, which is why business plans are commonly associated with getting a business loan. 

Business plans also help owners identify areas of weakness before launching, potentially avoiding costly mistakes down the road. “Laying out a business plan helped us identify the ’unknowns’ and made it easier to spot the gaps where we’d need help or, at the very least, to skill up ourselves,” says Jordan Barnett, owner of Kapow Meggings .

There are several other compelling reasons to consider writing a business plan, including:

• Strategic planning. Writing out your plan is an invaluable exercise for clarifying your ideas and can help you understand the scope of your business, as well as the amount of time, money, and resources you’ll need to get started.
• Evaluating ideas. If you’ve got multiple ideas in mind, a rough business plan for each can help you focus your time and energy on the ones with the highest chance of success.
• Research. To write a business plan, you’ll need to research your ideal customer and your competitors—information that will help you make more strategic decisions.
• Recruiting. Your business plan is one of the easiest ways to communicate your vision to potential new hires and can help build their confidence in the venture, especially if you’re in the early stages of growth.
• Partnerships. If you plan to collaborate with other brands , having a clear overview of your vision, your audience, and your business strategy will make it much easier for them to identify if your business is a good fit for theirs.
• Competitions. There are many business plan competitions offering prizes such as mentorships, grants, or investment capital. 

If you’re looking for a structured way to lay out your thoughts and ideas, and to share those ideas with people who can have a big impact on your success, making a business plan is an excellent starting point.

Business plan types

Business plan types can span from one page to multiple pages, with detailed graphs and reports. There’s no one right way to create a business plan. The goal is to convey the most important information about your company for readers.

Common business plans we see include, but are not limited to, the following types:

Traditional business plans

These are the most common business plans. Traditional business plans take longer to write and can be dozens of pages long. Venture capitalist firms and lenders ask for this plan. Traditional business plans may not be necessary if you don’t plan to seek outside funding. That’s where a lean business plan comes in.

Lean business plans

A lean business plan is a shorter version of a traditional business plan. It follows the same format, but only includes the most important information. Businesses use lean business plans to onboard new hires or modify existing plans for a specific target market. If you want to write a business plan purely for your own planning purposes when starting a new small business, a lean business plan is typically the way to go. 

Nonprofit business plans

A nonprofit business plan is for any entity that operates for public or social benefit. It covers everything you’ll find in a traditional business plan, plus a section describing the impact the company plans to make. For example, a speaker and headphone brand would communicate that they aim to help people with hearing disabilities. Donors often request this type of business plan.

📚 Read more: 7 Business Plan Examples to Inspire Your Own (2024)

7 tips for creating a small business plan

There are a few best practices when it comes to writing a business plan. While your plan will be unique to your business and goals, keep these tips in mind as you write.

1. Know your audience

When you know who will be reading your plan—even if you’re just writing it for yourself to clarify your ideas—you can tailor the language and level of detail to them. This can also help you make sure you’re including the most relevant information and figure out when to omit sections that aren’t as impactful.

2. Have a clear goal

When creating a business plan, you’ll need to put in more work and deliver a more thorough plan if your goal is to secure funding for your business, versus working through a plan for yourself or your team.

3. Invest time in research

Sections of your business plan will primarily be informed by your ideas and vision, but some of the most crucial information you’ll need requires research from independent sources. This is where you can invest time in understanding who you’re selling to, whether there’s demand for your products, and who else is selling similar products or services.

4. Keep it short and to the point

No matter who you’re writing for, your business plan should be short and readable—generally no longer than 15 to 20 pages. If you do have additional documents you think may be valuable to your audience and your goals, consider adding them as appendices.

5. Keep the tone, style, and voice consistent

This is best managed by having a single person write the plan or by allowing time for the plan to be properly edited before distributing it.

6. Use a business plan template

You can also use a free business plan template to provide a skeleton for writing a plan. These templates often guide you through each section—from financial projects to market research to mission statement—ensuring you don’t miss a step.

7. Try business plan software

Writing a business plan isn’t the easiest task for business owners. But it’s important for anyone starting or expanding a business. 

Fortunately, there are tools to help with everything from planning, drafting, creating graphics, syncing financial data, and more. Business plan software also has business plan templates and tutorials to help you finish a comprehensive plan in hours, rather than days.

A few curated picks include:

• LivePlan : the most affordable option with samples and templates
• Bizplan : tailored for startups seeking investment
• Go Small Biz : budget-friendly option with industry-specific templates

📚 Read more:  6 Best Business Plan Software Platforms (2024)

Common mistakes when writing a business plan

Other articles on business plans would never tell you what we’re about to tell you: Your business plan can fail. 

The last thing you want is for time and effort to go down the drain, so avoid these common mistakes:

• Bad business idea. Sometimes your idea may be too risky for potential investors or too expensive to run, or there’s no market. Aim for small business ideas that require low startup costs.
• No exit strategy. If you don’t show an exit strategy, or a plan for investors to leave the business with maximum profits, you’ll have little luck securing capital.
• Unbalanced teams. A great product is the cost of entry to starting a business. But an incredible team will take it to the top. Unfortunately, many business owners overlook a balanced team. They focus on potential profits, without worrying about how it will be done operationally. 
• Missing financial projections. Don’t forget your balance sheet, cash flow statements, P&L statements, and income statements. Include your break-even analysis and return-on-investment calculations in your financial projections to create a successful business plan.
• Spelling and grammar errors. All the best organizations have an editor review their documents. If someone spots typos while reading your business plan, sloppy errors like those can evoke a larger sense of distrust in your capabilities to run a successful company. It may seem minor, but legibility and error-free writing helps make a good impression on your business plan’s audience. 

Updating and revising a business plan

Business plans aren’t static documents. The business world moves fast and your plan will need to keep up. You don’t want it to get stale. 

Here’s a good rule of thumb for business plan revisions:

• Monthly: Update KPIs like sales, website traffic, and customer acquisition costs. Review your cash flow. Is your money situation as expected? Make the necessary changes.
• Quarterly : Are you hitting your targets? Be sure to update your financial performance, successful marketing campaigns, and any other recent milestones achieved.
• Yearly : Think of this as a big overhaul. Compare projections to actuals and update your forecasts. 

When updating your plan, don’t just go with your gut. Use data like surveys and website analytics to inform each update. Using outdated information will only lead to confusion and missed opportunities.

Remember not to just update one part of your plan—it’s all connected. Fortunately, with business plan software you can easily give your plan attention and help your business thrive. 

How to present a business plan

Here are some tips for presenting your business plan to stakeholders.

Understand your audience

Start by doing homework on who you’ll be presenting to. Are they investors, potential partners, or a bank? Each group will have different interests and expectations. 

Consider the following about your presentation audience:

• Background: What’s their professional experience?
• Knowledge level: How familiar are they with your industry?
• Interests: What aspects of your plan will excite them most?
• Concerns: What might make them hesitant about your idea?

Depending on who you’re presenting to, you can tweak your presentation accordingly. For example, if you’re presenting to a group of investors, you’d probably want to highlight financial projections and market analysis. 

Structure your presentation

Once you know your audience, you can organize your presentation. Think of this as the story you’ll tell listeners. A well-structured presentation helps listeners follow along and remember key points. 

Your opening should grab attention and give a snapshot of what’s to come. It’s kind of like an elevator pitch that gives an overview of your business idea. 

From there, break your presentation into clear sections:

• Problem: What issue are you solving?
• Solution: How does your business address this problem?
• Market: Who are your potential customers?
• Competition: Who else is in this space, and how are you different?
• Business model: How will you make money?
• Financial projections: What are your expected costs and revenues?
• Team: Who’s involved, and what makes them qualified?

Use visual aids to support your points. Graphs, charts, and even simple illustrations can make your information more digestible. Remember to practice your timing, too. A good presentation flows smoothly, giving each section the right amount of attention for its intended audience. 

Handle objections and questions

Facing objections or questions can be nerve-wracking, but it’s actually a great opportunity. It shows your listeners are engaged and thinking critically about your idea. The key is to be prepared and stay calm. 

Try to anticipate potential questions. Put yourself in the listener’s shoes: What would you want to know if you were them? Come up with clear answers to these questions ahead of time.

When handling questions:

• Listen carefully: Make sure you fully understand the question before answering.
• Stay positive: Even if the question seems critical, respond with enthusiasm.
• Be honest: If you don’t know something, it’s OK. Offer to find out and follow up. 

Use questions as a way to highlight the strengths of your business plan. If a question needs more thought or refresh, it’s perfectly fine to say, “That’s a great question. I’d love to look further into it and get back to you with a detailed answer.”

Handling questions well shows that you’re knowledgeable, thoughtful, and open to feedback—all things that will impress listeners and make them feel confident in your business plan. 

Prepare your business plan today

A business plan can help you identify clear, deliberate next steps for your business, even if you never plan to pitch investors—and it can help you see gaps in your plan before they become issues. 

Whether you’re working on starting a new online business idea , building a retail storefront, growing your established business, or purchasing an existing business , you now understand how to write a business plan that suits your business’s goals and needs.

Feature illustration by Rachel Tunstall

Business plan FAQ

How do i write a business plan.

Learning how to write a business plan is simple if you use a business plan template or business plan software. Typically, a traditional business plan for every new business should have the following components:

• Executive summary
• Company description, including value proposition
• Market analysis and competitive analysis
• Management and organization
• Products and services
• Customer segmentation
• Marketing plan
• Logistics and operations
• Financial plan and financial projections

What is a good business plan?

A good business plan clearly communicates your company’s purpose, goals, and growth strategies. It starts with a strong executive summary, then adequately outlines idea feasibility, target market insights, and the competitive landscape. 

A business plan template can help businesses be sure to follow the typical format of traditional business plans, which also include financial projections, details about the management team, and other key elements that venture capital firms and potential investors want to see.

What are the 3 main purposes of a business plan?

The three main purposes of a business plan are: 

• To clarify your plans for growth
• To understand your financial needs
• To attract funding from investors or secure a business loan

What are the different types of business plans?

The types of business plans include startup, refocusing, internal, annual, strategic, feasibility, operations, growth, and scenario-based. Each type of business plan has a different purpose. Business plan formats include traditional, lean, and nonprofit. Find a business plan template for the type of plan you want to write.

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