master business plan template

How to Build a Detailed Business Plan That Stands Out [Free Template]

Updated: March 29, 2022

Published: March 11, 2022

While starting a company may seem easier now than ever before, entrepreneurs have an uphill battle from the moment they start a business. And without a clear, actionable business plan for selling, marketing, finances, and operations, you're almost destined to face significant challenges.

This is why crafting a business plan is an essential step in the entrepreneurial process.

In this post, we'll walk you through the process of filling out your business plan template, like this free, editable version :

Download a free, editable one-page business plan template.

We know that when looking at a blank page on a laptop screen, the idea of writing your business plan can seem impossible. However, it's a mandatory step to take if you want to turn your business dreams into a reality.

That's why we've crafted a business plan template for you to download and use to build your new company. You can download it here for free . It contains prompts for all of the essential parts of a business plan, all of which are elaborated on, below.

This way, you'll be able to show them how organized and well-thought-out your business idea is, and provide them with answers to whatever questions they may have.

Free Business Plan Template

The essential document for starting a business -- custom built for your needs.

• Outline your idea.
• Pitch to investors.
• Secure funding.
• Get to work!

You're all set!

Click this link to access this resource at any time.

Building a Successful Business Plan

In the next section, we'll cover the components of a business plan , such as an executive summary and company description. But before we get to that, let's talk about key elements that should serve as building blocks for your plan.

For some entrepreneurs, the thought of writing a business plan sounds like a chore — a necessary means to an end. But that's a bad take.

A solid business plan is a blueprint for success . It's key to securing financing, presenting your business, outlining your financial projections, and turning that nugget of a business idea into a reality.

At the core, your business plan should answer two questions: why your business and why now?

Investors want to know why your business is entering the market, i.e. what problem it's solving and how it's different from what's currently out there. They also want to know why now is the right time for your type of product or service.

At a minimum, your plan should:

• Be more realistic than idealistic: Too often, business plans focus too much on how things could be instead of how they are. While having a vision is important, your plan needs to be rooted in research and data.
• Legitimize your business idea : If an idea fails on paper, it's a signal to go back to the drawing board. In doing so, you avoid losing precious time or money chasing an unrealistic idea.
• Position your business for funding: To get your business off the ground, chances are you'll need financial backing. Even with a solid business idea, investors, lenders, and banks still need convincing. An effective business plan will outline how much money you need, where it's going, what targets you will hit, and how you plan to repay any debts.
• Lay the foundation: Investors focus on risk – if anything looks shaky, it could be a dealbreaker. Ideally, your business plan will lay down the foundation for how you'll operate your business — from operational needs to financial projections and goals.
• Communicate your needs: It's nearly impossible to communicate your needs if you don't know what they are first. Of course, a business’ needs are always changing — but your plan should give you a well-rounded view of how your business will work in the short and long term.

So back to the question of why and why now – consider three things:

• Your industry – How does your product or service fit within your industry? Are you targeting a specific niche? Where do you see the industry going in the next five to 10 years?
• Your target audience – Who are you targeting? What challenges are they facing? How will your product or service help them in their daily lives?
• Your unique selling proposition (USP) – What sets you apart from your competitors? Is it your product/service features? Your company values? Price?

Once you know the answers to these questions, you'll be equipped to answer the question: why your business and why now.

How to Build a Business Plan

• Executive Summary
• Company and Business Description
• Product and Services Line
• Market Analysis
• Marketing Plan
• Legal Notes
• Financial Considerations

Featured Resource: Free Business Plan Template

1. cover page.

Your business plan should be prefaced with an eye-catching cover page. This means including a high-resolution image of your company logo, followed by your company's name, address, and phone number.

Since this business plan will likely change hands and be seen by multiple investors, you should also provide your own name, role in the business, and email address on the cover page.

At the bottom of this page, you can also add a confidentiality statement to protect against the disclosure of your business details.

The statement can read as follows: " This document contains confidential and proprietary information created by [your company name]. When receiving this document, you agree to keep its content confidential and may only reproduce and/or share it with express written permission of [your company name] ."

Remember to keep your cover page simple and concise — and save the important details for other sections.

Why it matters: First impressions are everything, and a clean cover page is the first step in the right direction.

Example of a Cover Page

2. Executive Summary

The executive summary of your business plan provides a one- to two-page overview of your business and highlights the most crucial pieces of your plan, such as your short-term and long-term goals.

The executive summary is essentially a boiled-down version of your entire business plan, so remember to keep this section to the point and filled only with essential information.

Typically, this brief section includes:

• A mission statement.
• The company's history and leadership model.
• An overview of competitive advantage(s).
• Financial projections.
• Company goals.
• An ask from potential investors.

Why it matters: The executive summary is known as the make-or-break section of a business plan. It influences whether investors turn the page or not — so effectively summarizing your business and the problem it hopes to solve is a must.

Think of the Summary as a written elevator pitch (with more detail). While your business plan provides the nitty-gritty details, your Summary describes — in a compelling but matter-of-fact language — the highlights of your plan. If it's too vague, complicated, or fuzzy, you may need to scrap it and start again.

Example of an Executive Summary Introduction

"The future looks bright for North Side Chicago, particularly the Rock Hill Neighborhood. A number of high-end commercial and residential developments are well on their way, along with two new condo developments in nearby neighborhoods.

While the completion of these developments will increase the population within the neighborhood and stimulate the economy, the area lacks an upscale restaurant where residents and visitors can enjoy fine food and drink. Jay Street Lounge and Restaurant will provide such a place."

3. Company & Business Description

In this section, provide a more thorough description of what your company is and why it exists.

The bulk of the writing in this section should be about your company's purpose – covering what the business will be selling, identifying the target market, and laying out a path to success.

In this portion of your business plan, you can also elaborate on your company's:

• Mission statement
• Core values
• Team and organizational structure

Why it matters: Investors look for great structures and teams in addition to great ideas. This section gives an overview of your businesses' ethos. It's the perfect opportunity to set your business apart from the competition — such as your team's expertise, your unique work culture, and your competitive advantage.

Example of a Values/Mission Statement

"Jay Street Lounge and Restaurant will be the go-to place for people to get a drink or bite in an elegant, upscale atmosphere. The mission is to be North Side's leading restaurant, with the best tasting food and the highest quality service."

3. Product & Services Line

Here's where you'll cover the makeup of your business's product and/or services line. You should provide each product or service's name, its purpose, and a description of how it works (if appropriate). If you own any patents, copyrights, or trademarks, it's essential to include this info too.

Next, add some color to your sales strategy by outlining your pricing model and mark-up amounts.

If you're selling tangible products, you should also explain production and costs, and how you expect these factors to change as you scale.

Why it matters: This section contains the real meat of your business plan. It sets the stage for the problem you hope to solve, your solution, and how your said solution fits in the market.

There's no one-size-fits-all formula for this section. For instance, one plan may delve into its ability to market in a more cost-effective way than the competition, whereas another plan focuses on its key products and their unique features and benefits.

Regardless of your angle, it's critical to convey how your offerings will differ from the competition.

Example of a Product/Service Offering

"The menu at Jay Street Lounge and Restaurant will focus on Moroccan cuisine. The stars of the menu (our specialties) are the Moroccan dishes, such as eggplant zaalouk, seafood bastilla, tagine, and chickpea stew. For those who enjoy American dishes, there will also be a variety of options, from burger sliders and flatbread pizza to grilled steak and salads.

The food at Jay Street will have premium pricing to match its upscale atmosphere. During the summer months, the restaurant will have extra seating on the patio where clients can enjoy a special summer menu. We will be open on all days of the week."

4. Market Analysis

It helps to reference your market research documentation in this section, like a Porter's Five Forces Analysis or a SWOT Analysis ( templates for those are available here ). You can also include them in your appendix.

If your company already has buyer personas, you should include them here as well. If not, you can create them right now using the Make My Persona Tool .

Why it matters: Having an awesome product is, well, awesome — but it isn't enough. Just as important, there must be a market for it.

This section allows you to dig deeper into your market, which segments you want to target, and why. The "why" here is important, since targeting the right segment is critical for the success and growth of your business.

It's easy to get lost (or overwhelmed) in a sea of endless data. For your business plan, narrow your focus by answering the following questions:

• What is my market? In other words, who are my customers?
• What segments of the market do I want to target?
• What's the size of my target market?
• Is my market likely to grow?
• How can I increase my market share over time?

Example of a Market Analysis

"Jay Street Lounge and Restaurant will target locals who live and work within the Rock Hill Neighborhood and the greater North Side Chicago area. We will also target the tourists who flock to the many tourist attractions and colleges on the North Side.

We will specifically focus on young to middle-aged adults with an income of $40,000 to $80,000 who are looking for an upscale experience. The general demographics of our target market are women between 20 to 50 years old.

A unique and varied Moroccan-American menu, along with our unique upscale atmosphere, differentiates us from competitors in the area. Jay Street will also set itself apart through its commitment to high-quality food, service, design, and atmosphere."

5. Marketing Plan

Unlike the market analysis section, your marketing plan section should be an explanation of the tactical approach to reaching your aforementioned target audience. List your advertising channels, organic marketing methods, messaging, budget, and any relevant promotional tactics.

If your company has a fully fleshed-out marketing plan, you can attach it in the appendix of your business plan. If not, download this free marketing plan template to outline your strategy.

Free Marketing Plan Template

Outline your company's marketing strategy in one simple, coherent plan.

• Pre-Sectioned Template
• Completely Customizable
• Example Prompts
• Professionally Designed

Why it matters: Marketing is what puts your product in front of your customers. It's not just advertising — it's an investment in your business.

Throwing money into random marketing channels is a haphazard approach, which is why it's essential to do the legwork to create a solid marketing plan.

Here's some good news — by this point, you should have a solid understanding of your target market. Now, it's time to determine how you'll reach them.

Example of a Marketing Plan Overview

"Our marketing strategy will focus on three main initiatives:

• Social media marketing. We will grow and expand our Facebook and Instagram following through targeted social media ads.
• Website initiatives. Our website will attract potential visitors by offering updated menus and a calendar of events.
• Promotional events. Jay Street will have one special theme night per week to attract new clients."

6. Sales Plan

It doesn't matter if your sales department is an office full of business development representatives (BDR) or a dozen stores with your products on their shelves.

The point is: All sales plans are different, so you should clearly outline yours here. Common talking points include your:

• Sales team structure, and why this structure was chosen.
• Sales channels.
• Sales tools, software, and resources.
• Prospecting strategy.
• Sales goals and budget.

Like with your marketing plan, it might make sense to attach your completed sales plan to the appendix of your business plan. You can download a template for building your sales plan here .

Why it matters: Among other things, investors are interested in the scalability of your business — which is why growth strategies are a critical part of your business plan.

Your sales plan should describe your plan to attract customers, retain them (if applicable), and, ultimately, grow your business. Be sure to outline what you plan to do given your existing resources and what results you expect from your work.

Example of a Sales Plan Overview

"The most important goal is to ensure financial success for Jay Street Lounge and Restaurant. We believe we can achieve this by offering excellent food, entertainment, and service to our clients.

We are not a low-cost dining option in the area. Instead, the food will have premium pricing to match its upscale feel. The strategy is to give Jay Street a perception of elegance through its food, entertainment, and excellent service."

7. Legal Notes

Your investors may want to know the legal structure of your business, as that could directly impact the risk of their investments. For example, if you're looking for business partners to engage in a non-corporation or LLC partnership, this means they could be on the line for more than their actual investment.

Because this clarification is often needed, explain if you are and/or plan to become a sole proprietor, partnership, corporation, LLC, or other.

You should also outline the steps you have taken (or will need to take) to operate legally. This includes licenses, permits, registrations, and insurance.

The last thing your investor wants to hear after they've sent you a big chunk of change is that you're operating without proper approval from the local, state, or federal government.

Why it matters: The last thing your investor wants to hear after they've sent you a big chunk of change is that you're operating without proper approval from the local, state, or federal government.

Example of Legal Notes

"Jay Street Lounge and Restaurant is up-to-date on all restaurant licenses and health permits. Our business name and logo are registered trademarks, presenting the possibility of expanding locally."

8. Financial Considerations

Ultimately, investors want to know two things:

• When they will earn their money back.
• When they will start seeing returns on their initial investment.

That said, be clear, calculated, and convincing in this section. It should cover:

• Startup costs.
• Sales forecasts for the next several months/quarters.
• Break-even analysis for time and dollars.
• Projected profit and loss (P&L) statement.

Facts and figures are key here, so be as specific as possible with each line item and projection. In addition, explain the "why" behind each of these sections.

However, keep in mind that information overload is a risk, especially when it comes to data. So, if you have pages upon pages of charts and spreadsheets for this section, distill them into a page or two and include the rest of the sheets in the appendix. This section should only focus on key data points.

Why it matters: One of the most important aspects of becoming "investor ready" is knowing your numbers. More importantly, you need to understand how those numbers will enhance your business.

While it's easy to write a number down on paper, it's more important to understand (and communicate) why you need capital, where it's going, and that your evaluation makes sense.

Example of Financial Projections

"Based on our knowledge and experience in the restaurant industry, we have come up with projections for the business.

Starting with an expenditure of $400,000 in year 1, we forecast sales of $1,500,000 and $2,800,000 for years two and three. We expect to achieve a net profit of 15% by year three."

9. Appendix

A detailed and well-developed business plan can range anywhere from 20 to 50 pages, with some even reaching upward of 80.

In many cases, the appendix is the longest section. Why? Because it includes the supportive materials mentioned in previous sections. To avoid disrupting the flow of the business plan with visuals, charts, and spreadsheets, business owners usually add them in the last section, i.e. the appendix.

Aside from what we've already mentioned – marketing plan, sales plan, department budgets, financial documents – you may also want to attach the following in the appendix:

• Marketing materials
• Market research data
• Licensing documentation
• Branding assets
• Floor plans for your location
• Mockups of your product
• Renderings of your office space or location design

Adding these pieces to the appendix enriches the reader's understanding of your business and proves you've put the work into your business plan without distracting from the main points throughout the plan.

Why it matters: An appendix helps the reader do their due diligence. It contains everything they need to support your business plan.

Keep in mind, however, that an appendix is typically necessary only if you're seeking financing or looking to attract business partners.

Use a Business Plan Template to Get Started

Writing a business plan shouldn't be an insurmountable roadblock to starting a business. Unfortunately, for all too many, it is.

That's why we recommend using our free business plan template. Pre-filled with detailed section prompts for all of the topics in this blog post, we're confident this template will get your business plan started in the right direction.

Editor's note: This post was originally published in June 2017 and has been updated for comprehensiveness.

Don't forget to share this post!

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Business plan template

If you’re looking for a way to start your business off on the right foot, a business plan template can help you establish the foundation for your strategy. Get started in a few clicks with Asana’s free business plan template.

Sign up to use this template.

• A library of 70+ templates
• Hundreds of app integrations
• AI features to get more done—faster

You’re pumped—you just thought of the greatest business idea ever. You want to get started, but you don’t have a plan laid out. You need a loan to get your idea off the ground, and the bank wants to see an in-depth business plan. We’re here to help.

What is a business plan template?

A business plan template is a framework that helps you solidify your ideas in an organized format. Our free business plan template walks you through how to create a new business from scratch, or re-imagine your existing business in a new market.

What components are included in a business plan template?

Our business plan template covers what an organization wants to achieve within three to five years. By using our template, you’ll have a place to capture all of the major information you need in order to complete your business plan. That includes:

Company description : Information like your executive summary , your company’s mission statement and vision, and your founder’s bio. 

Product and services: A high-level overview of what your company provides, including core products or services. This may also include how your product is developed, any potential screenshots or prototypes of your product, and pricing plans.

Marketing plan: How you plan to bring your product into market at a high level. You can add information like a SWOT analysis , target market research, and brand positioning in this section.

Financial plan: Important financial information such as balance sheets, a break-even analysis, and your cash flow projections. 

Management and organization information: Information on your company’s founders, executive team, and the board of directors.

How to use our free business plan template

Using Asana’s free business plan template is simple. Start by creating a new project with our free template. From there, add relevant information for your specific business plan in the sections provided in our template. If there’s more information you want to include in your business plan, you’re free to add sections, custom fields, or additional tasks to make this template fit your needs.

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Goals . Goals in Asana directly connect to the work you’re doing to hit them, making it easy for team members to see what they’re working towards. More often than not, our goals live separate from the work that goes into achieving them. By connecting your team and company goals to the work that supports them, team members have real-time insight and clarity into how their work directly contributes to your team—and company—success. As a result, team members can make better decisions. If necessary, they can identify the projects that support the company’s strategy and prioritize work that delivers measurable results. 

Reporting . Reporting in Asana translates project data into visual charts and digestible graphs. By reporting on work where work lives, you can reduce duplicative work and cut down on unnecessary app switching. And, because all of your team’s work is already in Asana, you can pull data from any project or team to get an accurate picture of what’s happening in one place.

Milestones . Milestones represent important project checkpoints. By setting milestones throughout your project, you can let your team members and project stakeholders know how you’re pacing towards your goal. Use milestones as a chance to celebrate the little wins on the path towards the big project goal. 

Project Overview . Project Overview is your one-stop-shop for all important project context. Give your team a bird’s-eye view of the what, why, and how of your project work. Add a project description to set the tone for how you’ll work together in Asana. Then, share any important resources and context—like meeting details, communication channels, and project briefs—in one place.

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Microsoft Teams . With the Microsoft Teams + Asana integration, you can search for and share the information you need without leaving Teams. Easily connect your Teams conversations to actionable items in Asana. Plus, create, assign, and view tasks during a Teams Meeting without needing to switch to your browser.

Slack . Turn ideas, work requests, and action items from Slack into trackable tasks and comments in Asana. Go from quick questions and action items to tasks with assignees and due dates. Easily capture work so requests and to-dos don’t get lost in Slack. 

Google Workplace . Attach files directly to tasks in Asana with the Google Workplace file chooser, which is built into the Asana task pane. Easily attach any My Drive file with just a few clicks.

Gmail . With the Asana for Gmail integration, you can create Asana tasks directly from your Gmail inbox. Any tasks you create from Gmail will automatically include the context from your email, so you never miss a beat. Need to refer to an Asana task while composing an email? Instead of opening Asana, use the Asana for Gmail add-on to simply search for that task directly from your Gmail inbox. 

How do I create a business plan template? .css-i4fobf{-webkit-transition:-webkit-transform 200ms ease-in-out;transition:transform 200ms ease-in-out;-webkit-transform:rotateZ(0);-moz-transform:rotateZ(0);-ms-transform:rotateZ(0);transform:rotateZ(0);}

Instead of taking the time to create a business plan from scratch, start the process off with Asana’s free template.To further customize your template, add evergreen information about your specific business, such as your business model, company name, address, mission statement, value proposition, or target audience. Adding these details to your template lets you avoid documenting this information from scratch every time you create a new business plan.

What components should I include in a business plan template?

Business plan templates typically contain five main sections: a company description, products and services, a marketing plan, basic management and organization information, and your current financial plan.

How long should my business plan be?

Short answer—as long as you need it to be. The long answer is that your business plan should have the answers to specific questions on how your business is run, from the perspective of an investor. The goal of a business plan is to highlight your business strategy for the next three to five years. This means any important operational, financial, and strategic information should be included. 

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10 Free Business Plan Templates in Word, Excel, & ClickUp

Praburam Srinivasan

Growth Marketing Manager

February 13, 2024

Turning your vision into a clear and coherent business plan can be confusing and tough. 

Hours of brainstorming and facing an intimidating blank page can raise more questions than answers. Are you covering everything? What should go where? How do you keep each section thorough but brief?

If these questions have kept you up at night and slowed your progress, know you’re not alone. That’s why we’ve put together the top 10 business plan templates in Word, Excel, and ClickUp—to provide answers, clarity, and a structured framework to work with. This way, you’re sure to capture all the relevant information without wasting time. 

And the best part? Business planning becomes a little less “ugh!” and a lot more “aha!” 🤩

What is a Business Plan Template?

What makes a good business plan template, 1. clickup business plan template, 2. clickup sales plan template, 3. clickup business development action plan template, 4. clickup business roadmap template, 5. clickup business continuity plan template, 6. clickup lean business plan template, 7. clickup small business action plan template, 8. clickup strategic business roadmap template , 9. microsoft word business plan template by microsoft, 10. excel business plan template by vertex42.

A business plan template is a structured framework for entrepreneurs and business executives who want to create business plans. It comes with pre-arranged sections and headings that cover key elements like the executive summary , business overview, target customers, unique value proposition, marketing plans, and financial statements.  

A good business plan template helps with thorough planning, clear documentation, and practical implementation. Here’s what to look for:

• Comprehensive structure: A good template comes with all the relevant sections to outline a business strategy, such as executive summary, market research and analysis, and financial projections 
• Clarity and guidance: A good template is easy to follow. It has brief instructions or prompts for each section, guiding you to think deeply about your business and ensuring you don’t skip important details
• Clean design: Aesthetics matter. Choose a template that’s not just functional but also professionally designed. This ensures your plan is presentable to stakeholders, partners, and potential investors
• Flexibility : Your template should easily accommodate changes without hassle, like adding or removing sections, changing content and style, and rearranging parts 🛠️ 

While a template provides the structure, it’s the information you feed it that brings it to life. These pointers will help you pick a template that aligns with your business needs and clearly showcases your vision.

10 Business Plan Templates to Use in 2024

Preparing for business success in 2024 (and beyond) requires a comprehensive and organized business plan. We’ve handpicked the best templates to help you guide your team, attract investors, and secure funding. Let’s check them out.

If you’re looking to replace a traditional business plan document, then ClickUp’s Business Plan Template is for you!

This one-page business plan template, designed in ClickUp Docs , is neatly broken down into the following sections:

• Company description : Overview, mission, vision, and team
• Market analysis : Problem, solution, target market, competition, and competitive advantage
• Sales and marketing strategy : Products/services and marketing channels
• Operational plan : Location and facilities, equipment and tools, manpower, and financial forecasts
• Milestones and metrics: Targets and KPIs

Customize the template with your company logo and contact details, and easily navigate to different sections using the collapsible table of contents. The mini prompts under each section guide you on what to include—with suggestions on how to present the data (e.g., bullet lists, pictures, charts, and tables). 

You can share the document with anyone via URL and collaborate in real time. And when the business plan is ready, you have the option to print it or export it to PDF, HTML, or Markdown.

But that’s not all. This template is equipped with basic and enterprise project management features to streamline the business plan creation process . The Topics List view has a list of all the different sections and subsections of the template and allows you to assign it to a team member, set a due date, and attach relevant documents and references.

Switch from List to Board view to track and update task statuses according to the following: To Do, In Progress, Needs Revision, and Complete. 

This template is a comprehensive toolkit for documenting the different sections of your business plan and streamlining the creation process to ensure it’s completed on time. 🗓️

If you’re looking for a tool to kickstart or update your sales plan, ClickUp’s Sales Plan Template has got you covered. This sales plan template features a project summary list with tasks to help you craft a comprehensive and effective sales strategy. Some of these tasks include:

• Determine sales objectives and goals
• Draft positioning statement
• Perform competitive analysis
• Draft ideal customer persona
• Create a lead generation strategy

Assign each task to a specific individual or team, set priority levels , and add due dates. Specify what section of the sales plan each task belongs to (e.g., executive summary, revenue goals, team structure, etc.), deliverable type (such as document, task, or meeting), and approval state (like pending, needs revisions, and approved).

And in ClickUp style, you can switch to multiple views: List for a list of all tasks, Board for visual task management, Timeline for an overview of task durations, and Gantt to get a view of task dependencies. 

This simple business plan template is perfect for any type of business looking to create a winning sales strategy while clarifying team roles and keeping tasks organized. ✨

Thinking about scaling your business’s reach and operations but unsure where or how to start? It can be overwhelming, no doubt—you need a clear vision, measurable goals, and an actionable plan that every member of your team can rally behind. 

Thankfully, ClickUp’s Business Development Action Plan Template is designed to use automations to simplify this process so every step toward your business growth is clear, trackable, and actionable.

Start by assessing your current situation and deciding on your main growth goal. Are you aiming to increase revenue, tap into new markets, or introduce new products or services? With ClickUp Whiteboards or Docs, brainstorm and collaborate with your team on this decision.

Set and track your short- and long-term growth goals with ClickUp’s Goals , break them down into smaller targets, and assign these targets to team members, complete with due dates. Add these targets to a new ClickUp Dashboard to track real-time progress and celebrate small wins. 🎉

Whether you’re a startup or small business owner looking to hit your next major milestone or an established business exploring new avenues, this template keeps your team aligned, engaged, and informed every step of the way.

ClickUp’s Business Roadmap Template is your go-to for mapping out major strategies and initiatives in areas like revenue growth, brand awareness, community engagement, and customer satisfaction. 

Use the List view to populate tasks under each initiative. With Custom Fields, you can capture which business category (e.g., Product, Operations, Sales & Marketing, etc.) tasks fall under and which quarter they’re slated for. You can also link to relevant documents and resources and evaluate tasks by effort and impact to ensure the most critical tasks get the attention they deserve. 👀

Depending on your focus, this template provides different views to show just what you need. For example, the All Initiatives per Quarter view lets you focus on what’s ahead by seeing tasks that need completion within a specific quarter. This ensures timely execution and helps in aligning resources effectively for the short term.

This template is ideal for business executives and management teams who need to coordinate multiple short- and long-term initiatives and business strategies.

In business, unexpected threats to operations can arise at any moment. Whether it’s economic turbulence, a global health crisis, or supply chain interruptions, every company needs to be ready. ClickUp’s Business Continuity Plan Template lets you prepare proactively for these unforeseen challenges.

The template organizes tasks into three main categories:

• Priorities: Tasks that need immediate attention
• Continuity coverage: Tasks that must continue despite challenges
• Guiding principles: Resources and protocols to ensure smooth operations

The Board view makes it easy to visualize all the tasks under each of these categories. And the Priorities List sorts tasks by those that are overdue, the upcoming ones, and then the ones due later.

In times of uncertainty, being prepared is your best strategy. This template helps your business not just survive but thrive in challenging situations, keeping your customers, employees, and investors satisfied. 🤝

Looking to execute your business plan the “lean” way? Use ClickUp’s Lean Business Plan Template . It’s designed to help you optimize resource usage and cut unnecessary steps—giving you better results with less effort.

In the Plan Summary List view, list all the tasks that need to get done. Add specific details like who’s doing each task, when it’s due, and which part of the Business Model Canvas (BMC) it falls under. The By Priority view sorts this list based on priorities like Urgent, High, Normal, and Low. This makes it easy to spot the most important tasks and tackle them first.

Additionally, the Board view gives you an overview of task progression from start to finish. And the BMC view rearranges these tasks based on the various BMC components. 

Each task can further be broken down into subtasks and multiple checklists to ensure all related action items are executed. ✔️

This template is an invaluable resource for startups and large enterprises looking to maximize process efficiencies and results in a streamlined and cost-effective way.

The Small Business Action Plan Template by ClickUp is tailor-made for small businesses looking to transform their business ideas and goals into actionable steps and, eventually, into reality. 

It provides a simple and organized framework for creating, assigning, prioritizing, and tracking tasks. And in effect, it ensures that goals are not just set but achieved. Through the native dashboard and goal-setting features, you can monitor task progress and how they move you closer to achieving your goals.

Thanks to ClickUp’s robust communication features like chat, comments, and @mentions, it’s easy to get every team member on the same page and quickly address questions or concerns.

Use this action plan template to hit your business goals by streamlining your internal processes and aligning team efforts.

For larger businesses and scaling enterprises, getting different departments to work together toward a big goal can be challenging. The ClickUp Strategic Business Roadmap Template makes it easier by giving you a clear plan to follow.

This template is packaged in a folder and split into different lists for each department in your business, like Sales, Product, Marketing, and Enablement. This way, every team can focus on their tasks while collectively contributing to the bigger goal.

There are multiple viewing options available for team members. These include:

• Progress Board: Visualize tasks that are on track, those at risk, and those behind
• Gantt view: Get an overview of project timelines and dependencies
• Team view: See what each team member is working on so you can balance workloads for maximum productivity

While this template may feel overwhelming at first, the getting started guide offers a step-by-step breakdown to help you navigate it with ease. And like all ClickUp templates, you can easily customize it to suit your business needs and preferences.

Microsoft’s 20-page traditional business plan template simplifies the process of drafting comprehensive business plans. It’s made up of different sections, including:

• Executive summary : Highlights, objectives, mission statement, and keys to success
• Description of business: Company ownership and legal structure, hours of operation, products and services, suppliers, financial plans, etc.
• Marketing: Market analysis, market segmentation, competition, and pricing
• Appendix: Start-up expenses, cash flow statements, income statements, sales forecast, milestones, break-even analysis, etc.

The table of contents makes it easy to move to different sections of the document. And the text placeholders under each section provide clarity on the specific details required—making the process easier for users who may not be familiar with certain business terminology.

No business template roundup is complete without an Excel template. This business plan template lets you work on your business financials in Excel. It comes with customizable tables, formulas, and charts to help you look at the following areas:

• Highlight charts
• Market analysis
• Start-up assets and expenses
• Sales forecasts
• Profit and loss
• Balance sheet
• Cash flow projections
• Break-even analysis

This Excel template is especially useful when you want to create a clear and visual financial section for your business plan document—an essential element for attracting investors and lenders. However, there might be a steep learning curve to using this template if you’re not familiar with business financial planning and using Excel.

Try a Free Business Plan Template in ClickUp

Launching and running a successful business requires a well-thought-out and carefully crafted business plan. However, the business planning process doesn’t have to be complicated, boring, or take up too much time. Use any of the above 10 free business plan formats to simplify and speed up the process.

ClickUp templates go beyond offering a solid foundation to build your business plans. They come with extensive project management features to turn your vision into reality. And that’s not all— ClickUp’s template library offers over 1,000 additional templates to help manage various aspects of your business, from decision-making to product development to resource management .

Sign up for ClickUp’s Free Forever Plan today to fast-track your business’s growth! 🏆

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How to Write a Business Plan (Plus Examples & Templates)

May 24, 2021

Have you ever wondered how to write a business plan step by step? Mike Andes, told us: 

This guide will help you write a business plan to impress investors.

Throughout this process, we’ll get information from Mike Andes, who started Augusta Lawn Care Services when he was 12 and turned it into a franchise with over 90 locations. He has gone on to help others learn how to write business plans and start businesses.  He knows a thing or two about writing  business plans!

We’ll start by discussing the definition of a business plan. Then we’ll discuss how to come up with the idea, how to do the market research, and then the important elements in the business plan format. Keep reading to start your journey!

What Is a Business Plan?

A business plan is simply a road map of what you are trying to achieve with your business and how you will go about achieving it. It should cover all elements of your business including: 

• Finding customers
• Plans for developing a team
•  Competition
• Legal structures
• Key milestones you are pursuing

If you aren’t quite ready to create a business plan, consider starting by reading our business startup guide .

Get a Business Idea

Before you can write a business plan, you have to have a business idea. You may see a problem that needs to be solved and have an idea how to solve it, or you might start by evaluating your interests and skills. 

Mike told us, “The three things I suggest asking yourself when thinking about starting a business are:

• What am I good at?
• What would I enjoy doing?
• What can I get paid for?”

If all three of these questions don’t lead to at least one common answer, it will probably be a much harder road to success. Either there is not much market for it, you won’t be good at it, or you won’t enjoy doing it. 

As Mike told us, “There’s enough stress starting and running a business that if you don’t like it or aren’t good at it, it’s hard to succeed.”

If you’d like to hear more about Mike’s approach to starting a business, check out our YouTube video

Conduct Market Analysis

Market analysis is focused on establishing if there is a target market for your products and services, how large the target market is, and identifying the demographics of people or businesses that would be interested in the product or service. The goal here is to establish how much money your business concept can make.

Product and Service Demand

A search engine is your best friend when trying to figure out if there is demand for your products and services. Personally, I love using presearch.org because it lets you directly search on a ton of different platforms including Google, Youtube, Twitter, and more. Check out the screenshot for the full list of search options.

With quick web searches, you can find out how many competitors you have, look through their reviews, and see if there are common complaints about the competitors. Bad reviews are a great place to find opportunities to offer better products or services. 

If there are no similar products or services, you may have stumbled upon something new, or there may just be no demand for it. To find out, go talk to your most honest friend about the idea and see what they think. If they tell you it’s dumb or stare at you vacantly, there’s probably no market for it.

You can also conduct a survey through social media to get public opinion on your idea. Using Facebook Business Manager , you could get a feel for who would be interested in your product or service.

 I ran a quick test of how many people between 18-65  you could reach in the U.S. during a week. It returned an estimated 700-2,000 for the total number of leads, which is enough to do a fairly accurate statistical analysis.

Identify Demographics of Target Market

Depending on what type of business you want to run, your target market will be different. The narrower the demographic, the fewer potential customers you’ll have. If you did a survey, you’ll be able to use that data to help define your target audience. Some considerations you’ll want to consider are:

• Other Interests
• Marital Status
• Do they have kids?

Once you have this information, it can help you narrow down your options for location and help define your marketing further. One resource that Mike recommended using is the Census Bureau’s Quick Facts Map . He told us,  

“It helps you quickly evaluate what the best areas are for your business to be located.”

How to Write a Business Plan

Now that you’ve developed your idea a little and established there is a market for it, you can begin writing a business plan. Getting started is easier with the business plan template we created for you to download. I strongly recommend using it as it is updated to make it easier to create an action plan. 

Each of the following should be a section of your business plan:

• Business Plan Cover Page
• Table of Contents
• Executive Summary
• Company Description
• Description of Products and Services

SWOT Analysis

• Competitor Data
• Competitive Analysis
• Marketing Expenses Strategy 

Pricing Strategy

• Distribution Channel Assessment
• Operational Plan
• Management and Organizational Strategy
• Financial Statements and/or Financial Projections

We’ll look into each of these. Don’t forget to download our free business plan template (mentioned just above) so you can follow along as we go. 

How to Write a Business Plan Step 1. Create a Cover Page

The first thing investors will see is the cover page for your business plan. Make sure it looks professional. A great cover page shows that you think about first impressions.

A good business plan should have the following elements on a cover page:

• Professionally designed logo
• Company name
• Mission or Vision Statement
• Contact Info

Basically, think of a cover page for your business plan like a giant business card. It is meant to capture people’s attention but be quickly processed.

How to Write a Business Plan Step 2. Create a Table of Contents

Most people are busy enough that they don’t have a lot of time. Providing a table of contents makes it easy for them to find the pages of your plan that are meaningful to them.

A table of contents will be immediately after the cover page, but you can include it after the executive summary. Including the table of contents immediately after the executive summary will help investors know what section of your business plan they want to review more thoroughly.

Check out Canva’s article about creating a  table of contents . It has a ton of great information about creating easy access to each section of your business plan. Just remember that you’ll want to use different strategies for digital and hard copy business plans.

How to Write a Business Plan Step 3. Write an Executive Summary

An executive summary is where your business plan should catch the readers interest.  It doesn’t need to be long, but should be quick and easy to read.

Mike told us,

How long should an executive summary bein an informal business plan?

For casual use, an executive summary should be similar to an elevator pitch, no more than 150-160 words, just enough to get them interested and wanting more. Indeed has a great article on elevator pitches .  This can also be used for the content of emails to get readers’ attention.

It consists of three basic parts:

• An introduction to you and your business.
• What your business is about.
• A call to action

Example of an informal executive summary 

One of the best elevator pitches I’ve used is:

So far that pitch has achieved a 100% success rate in getting partnerships for the business.

What should I include in an executive summary for investors?

Investors are going to need a more detailed executive summary if you want to secure financing or sell equity. The executive summary should be a brief overview of your entire business plan and include:

• Introduction of yourself and company.
• An origin story (Recognition of a problem and how you came to solution)
• An introduction to your products or services.
• Your unique value proposition. Make sure to include intellectual property.
• Where you are in the business life cycle
• Request and why you need it.

Successful business plan examples

The owner of Urbanity told us he spent 2 months writing a 75-page business plan and received a $250,000 loan from the bank when he was 23. Make your business plan as detailed as possible when looking for financing. We’ve provided a template to help you prepare the portions of a business plan that banks expect.

Here’s the interview with the owner of Urbanity:

When to write an executive summary?

Even though the summary is near the beginning of a business plan, you should write it after you complete the rest of a business plan. You can’t talk about revenue, profits, and expected expenditures if you haven’t done the market research and created a financial plan.

What mistakes do people make when writing an executive summary?

Business owners commonly go into too much detail about the following items in an executive summary:

• Marketing and sales processes
• Financial statements
• Organizational structure
• Market analysis

These are things that people will want to know later, but they don’t hook the reader. They won’t spark interest in your small business, but they’ll close the deal.

How to Write a Business Plan Step 4. Company Description

Every business plan should include a company description. A great business plan will include the following elements while describing the company:

• Mission statement
• Philosophy and vision
• Company goals

Target market

• Legal structure

Let’s take a look at what each section includes in a good business plan.

Mission Statement

A mission statement is a brief explanation of why you started the company and what the company’s main focus is. It should be no more than one or two sentences. Check out HubSpot’s article 27 Inspiring Mission Statement for a great read on informative and inspiring mission and vision statements. 

Company Philosophy and Vision

The company philosophy is what drives your company. You’ll normally hear them called core values.  These are the building blocks that make your company different. You want to communicate your values to customers, business owners, and investors as often as possible to build a company culture, but make sure to back them up.

What makes your company different?

Each company is different. Your new business should rise above the standard company lines of honesty, integrity, fun, innovation, and community when communicating your business values. The standard answers are corporate jargon and lack authenticity. 

Examples of core values

One of my clients decided to add a core values page to their website. As a tech company they emphasized the values:

•  Prioritize communication.
•  Never stop learning.
•  Be transparent.
•  Start small and grow incrementally.

These values communicate how the owner and the rest of the company operate. They also show a value proposition and competitive advantage because they specifically focus on delivering business value from the start. These values also genuinely show what the company is about and customers recognize the sincerity. Indeed has a great blog about how to identify your core values .

What is a vision statement?

A vision statement communicate the long lasting change a business pursues. The vision helps investors and customers understand what your company is trying to accomplish. The vision statement goes beyond a mission statement to provide something meaningful to the community, customer’s lives, or even the world.

Example vision statements

The Alzheimer’s Association is a great example of a vision statement:

A world without Alzheimer’s Disease and other dementia.

It clearly tells how they want to change the world. A world without Alzheimers might be unachievable, but that means they always have room for improvement.

Business Goals

You have to measure success against goals for a business plan to be meaningful. A business plan helps guide a company similar to how your GPS provides a road map to your favorite travel destination. A goal to make as much money as possible is not inspirational and sounds greedy.

Sure, business owners want to increase their profits and improve customer service, but they need to present an overview of what they consider success. The goals should help everyone prioritize their work.

How far in advance should a business plan?

Business planning should be done at least one year in advance, but many banks and investors prefer three to five year business plans. Longer plans show investors that the management team  understands the market and knows the business is operating in a constantly shifting market. In addition, a plan helps businesses to adjust to changes because they have already considered how to handle them.

Example of great business goals

My all time-favorite long-term company goals are included in Tesla’s Master Plan, Part Deux . These goals were written in 2016 and drive the company’s decisions through 2026. They are the reason that investors are so forgiving when Elon Musk continually fails to meet his quarterly and annual goals.

If the progress aligns with the business plan investors are likely to continue to believe in the company. Just make sure the goals are reasonable or you’ll be discredited (unless you’re Elon Musk).

You did target market research before creating a business plan. Now it’s time to add it to the plan so others understand what your ideal customer looks like. As a new business owner, you may not be considered an expert in your field yet, so document everything. Make sure the references you use are from respectable sources. 

Use information from the specific lender when you are applying for lending. Most lenders provide industry research reports and using their data can strengthen the position of your business plan.

A small business plan should include a section on the external environment. Understanding the industry is crucial because we don’t plan a business in a vacuum. Make sure to research the industry trends, competitors, and forecasts. I personally prefer IBIS World for my business research. Make sure to answer questions like:

• What is the industry outlook long-term and short-term?
• How will your business take advantage of projected industry changes and trends?
• What might happen to your competitors and how will your business successfully compete?

Industry resources

Some helpful resources to help you establish more about your industry are:

• Trade Associations
• Federal Reserve
• Bureau of Labor Statistics

Legal Structure

There are five basic types of legal structures that most people will utilize:

• Sole proprietorships
• Limited Liability Companies (LLC)

Partnerships

Corporations.

• Franchises.

Each business structure has their pros and cons. An LLC is the most common legal structure due to its protection of personal assets and ease of setting up. Make sure to specify how ownership is divided and what roles each owner plays when you have more than one business owner.

You’ll have to decide which structure is best for you, but we’ve gathered information on each to make it easier.

Sole Proprietorship

A sole proprietorship is the easiest legal structure to set up but doesn’t protect the owner’s personal assets from legal issues. That means if something goes wrong, you could lose both your company and your home.

To start a sole proprietorship, fill out a special tax form called a  Schedule C . Sole proprietors can also join the American Independent Business Alliance .

Limited Liability Company (LLC)

An LLC is the most common business structure used in the United States because an LLC protects the owner’s personal assets. It’s similar to partnerships and corporations, but can be a single-member LLC in most states. An LLC requires a document called an operating agreement.

Each state has different requirements. Here’s a link to find your state’s requirements . Delaware and Nevada are common states to file an LLC because they are really business-friendly. Here’s a blog on the top 10 states to get an LLC.

Partnerships are typically for legal firms. If you choose to use a partnership choose a Limited Liability Partnership. Alternatively, you can just use an LLC.

Corporations are typically for massive organizations. Corporations have taxes on both corporate and income tax so unless you plan on selling stock, you are better off considering an LLC with S-Corp status . Investopedia has good information corporations here .

There are several opportunities to purchase successful franchises. TopFranchise.com has a list of companies in a variety of industries that offer franchise opportunities. This makes it where an entrepreneur can benefit from the reputation of an established business that has already worked out many of the kinks of starting from scratch.

How to Write a Business Plan Step 5. Products and Services

This section of the business plan should focus on what you sell, how you source it, and how you sell it. You should include:

• Unique features that differentiate your business products from competitors
• Intellectual property
• Your supply chain
• Cost and pricing structure 

Questions to answer about your products and services

Mike gave us a list  of the most important questions to answer about your product and services:

• How will you be selling the product? (in person, ecommerce, wholesale, direct to consumer)?
• How do you let them know they need a product?
• How do you communicate the message?
• How will you do transactions?
• How much will you be selling it for?
• How many do you think you’ll sell and why?

Make sure to use the worksheet on our business plan template .

How to Write a Business Plan Step 6. Sales and Marketing Plan

The marketing and sales plan is focused on the strategy to bring awareness to your company and guides how you will get the product to the consumer.  It should contain the following sections:

SWOT Analysis stands for strengths, weaknesses, opportunities, and threats. Not only do you want to identify them, but you also want to document how the business plans to deal with them.

Business owners need to do a thorough job documenting how their service or product stacks up against the competition.

If proper research isn’t done, investors will be able to tell that the owner hasn’t researched the competition and is less likely to believe that the team can protect its service from threats by the more well-established competition. This is one of the most common parts of a presentation that trips up business owners presenting on Shark Tank .

SWOT Examples

Examples of strengths and weaknesses could be things like the lack of cash flow, intellectual property ownership, high costs of suppliers, and customers’ expectations on shipping times.

Opportunities could be ways to capitalize on your strengths or improve your weaknesses, but may also be gaps in the industry. This includes:

• Adding offerings that fit with your current small business
• Increase sales to current customers
• Reducing costs through bulk ordering
• Finding ways to reduce inventory
•  And other areas you can improve

Threats will normally come from outside of the company but could also be things like losing a key member of the team. Threats normally come from competition, regulations, taxes, and unforeseen events.

The management team should use the SWOT analysis to guide other areas of business planning, but it absolutely has to be done before a business owner starts marketing. 

Include Competitor Data in Your Business Plan

When you plan a business, taking into consideration the strengths and weaknesses of the competition is key to navigating the field. Providing an overview of your competition and where they are headed shows that you are invested in understanding the industry.

For smaller businesses, you’ll want to search both the company and the owners names to see what they are working on. For publicly held corporations, you can find their quarterly and annual reports on the SEC website .

What another business plans to do can impact your business. Make sure to include things that might make it attractive for bigger companies to outsource to a small business.

Marketing Strategy

The marketing and sales part of business plans should be focused on how you are going to make potential customers aware of your business and then sell to them.

If you haven’t already included it, Mike recommends:

“They’ll want to know about Demographics, ages, and wealth of your target market.”

Make sure to include the Total addressable market .  The term refers to the value if you captured 100% of the market.

Advertising Strategy

You’ll explain what formats of advertising you’ll be using. Some possibilities are:

• Online: Facebook and Google are the big names to work with here.
• Print : Print can be used to reach broad groups or targeted markets. Check out this for tips .
• Radio : iHeartMedia is one of the best ways to advertise on the radio
• Cable television : High priced, hard to measure ROI, but here’s an explanation of the process
• Billboards: Attracting customers with billboards can be beneficial in high traffic areas.

You’ll want to define how you’ll be using each including frequency, duration, and cost. If you have the materials already created, including pictures or links to the marketing to show creative assets.

Mike told us “Most businesses are marketing digitally now due to Covid, but that’s not always the right answer.”

Make sure the marketing strategy will help team members or external marketing agencies stay within the brand guidelines .

This section of a business plan should be focused on pricing. There are a ton of pricing strategies that may work for different business plans. Which one will work for you depends on what kind of a business you run.

Some common pricing strategies are:

• Value-based pricing – Commonly used with home buying and selling or other products that are status symbols.
• Skimming pricing – Commonly seen in video game consoles, price starts off high to recoup expenses quickly, then reduces over time.
• Competition-based pricing – Pricing based on competitors’ pricing is commonly seen at gas stations.
• Freemium services –  Commonly used for software, where there is a free plan, then purchase options for more functionality.

HubSpot has a great calculator and blog on pricing strategies.

Beyond explaining what strategy your business plans to use, you should include references for how you came to this pricing strategy and how it will impact your cash flow.

Distribution Plan

This part of a business plan is focused on how the product or service is going to go through the supply chain. These may include multiple divisions or multiple companies. Make sure to include any parts of the workflow that are automated so investors can see where cost savings are expected and when.

Supply Chain Examples

For instance, lawn care companies  would need to cover aspects such as:

• Suppliers for lawn care equipment and tools
• Any chemicals or treatments needed
• Repair parts for sprinkler systems
• Vehicles to transport equipment and employees
• Insurance to protect the company vehicles and people.

Examples of Supply Chains

These are fairly flat supply chains compared to something like a clothing designer where the clothes would go through multiple vendors. A clothing company might have the following supply chain:

• Raw materials
• Shipping of raw materials
• Converting of raw materials to thread
• Shipping thread to produce garments
• Garment producer
• Shipping to company
• Company storage
• Shipping to retail stores

There have been advances such as print on demand that eliminate many of these steps. If you are designing completely custom clothing, all of this would need to be planned to keep from having business disruptions.

The main thing to include in the business plan is the list of suppliers, the path the supply chain follows, the time from order to the customer’s home, and the costs associated with each step of the process.

According to BizPlanReview , a business plan without this information is likely to get rejected because they have failed to research the key elements necessary to make sales to the customer.

How to Write a Business Plan Step 7. Company Organization and Operational Plan

This part of the business plan is focused on how the business model will function while serving customers.  The business plan should provide an overview of  how the team will manage the following aspects:

Quality Control

• Legal environment

Let’s look at each for some insight.

Production has already been discussed in previous sections so I won’t go into it much. When writing a business plan for investors, try to avoid repetition as it creates a more simple business plan.

If the organizational plan will be used by the team as an overview of how to perform the best services for the customer, then redundancy makes more sense as it communicates what is important to the business.

Quality control policies help to keep the team focused on how to verify that the company adheres to the business plan and meets or exceeds customer expectations.

Quality control can be anything from a standard that says “all labels on shirts can be no more than 1/16″ off center” to a defined checklist of steps that should be performed and filled out for every customer.

There are a variety of organizations that help define quality control including:

• International Organization for Standardization – Quality standards for energy, technology, food, production environments, and cybersecurity
• AICPA – Standard defined for accounting.
• The Joint Commission – Healthcare
• ASHRAE – HVAC best practices

You can find lists of the organizations that contribute most to the government regulation of industries on Open Secrets . Research what the leaders in your field are doing. Follow their example and implement it in your quality control plan.

For location, you should use information from the market research to establish where the location will be. Make sure to include the following in the location documentation.

• The size of your location
• The type of building (retail, industrial, commercial, etc.)
• Zoning restrictions – Urban Wire has a good map on how zoning works in each state
• Accessibility – Does it meet ADA requirements?
• Costs including rent, maintenance, utilities, insurance and any buildout or remodeling costs
• Utilities – b.e.f. has a good energy calculator .

Legal Environment

The legal requirement section is focused on defining how to meet the legal requirements for your industry. A good business plan should include all of the following:

• Any licenses and/or permits that are needed and whether you’ve obtained them
• Any trademarks, copyrights, or patents that you have or are in the process of applying for
• The insurance coverage your business requires and how much it costs
• Any environmental, health, or workplace regulations affecting your business
• Any special regulations affecting your industry
• Bonding requirements, if applicable

Your local SBA office can help you establish requirements in your area. I strongly recommend using them. They are a great resource.

Your business plan should include a plan for company organization and hiring. While you may be the only person with the company right now, down the road you’ll need more people. Make sure to consider and document the answers to the following questions:

• What is the current leadership structure and what will it look like in the future?
• What types of employees will you have? Are there any licensing or educational requirements?
• How many employees will you need?
• Will you ever hire freelancers or independent contractors?
• What is each position’s job description?
• What is the pay structure (hourly, salaried, base plus commission, etc.)?
• How do you plan to find qualified employees and contractors?

One of the most crucial parts of a business plan is the organizational chart. This simply shows the positions the company will need, who is in charge of them and the relationship of each of them. It will look similar to this:

Our small business plan template has a much more in-depth organizational chart you can edit to include when you include the organizational chart in your business plan.

How to Write a Business Plan Step 8. Financial Statements 

No business plan is complete without financial statements or financial projections. The business plan format will be different based on whether you are writing a business plan to expand a business or a startup business plan. Let’s dig deeper into each.

Provide All Financial Income from an Existing Business

An existing business should use their past financial documents including the income statement, balance sheet, and cash flow statement to find trends to estimate the next 3-5 years.

You can create easy trendlines in excel to predict future revenue, profit and loss, cash flow, and other changes in year-over-year performance. This will show your expected performance assuming business continues as normal.

If you are seeking an investment, then the business is probably not going to continue as normal. Depending on the financial plan and the purpose of getting financing, adjustments may be needed to the following:

• Higher Revenue if expanding business
• Lower Cost of Goods Sold if purchasing inventory with bulk discounts
• Adding interest if utilizing financing (not equity deal)
• Changes in expenses
• Addition of financing information to the cash flow statement
• Changes in Earnings per Share on the balance sheet

Financial modeling is a challenging subject, but there are plenty of low-cost courses on the subject. If you need help planning your business financial documentation take some time to watch some of them.

Make it a point to document how you calculated all the changes to the income statement, balance sheet, and cash flow statement in your business plan so that key team members or investors can verify your research.

Financial Projections For A Startup Business Plan

Unlike an existing business, a startup doesn’t have previous success to model its future performance. In this scenario, you need to focus on how to make a business plan realistic through the use of industry research and averages.

Mike gave the following advice in his interview:

Financial Forecasting Mistakes

One of the things a lot of inexperienced people use is the argument, “If I get one percent of the market, it is worth $100 million.” If you use this, investors are likely to file the document under bad business plan examples.

Let’s use custom t-shirts as an example.

Credence Research estimated in 2018 there were 11,334,800,000 custom t-shirts sold for a total of $206.12 Billion, with a 6% compound annual growth rate.

With that data,  you can calculate that the industry will grow to $270 Billion in 2023 and that the average shirt sold creates $18.18 in revenue.

Combine that with an IBIS World estimate of 11,094 custom screen printers and that means even if you become an average seller, you’ll get .009% of the market.

Here’s a table for easier viewing of that information.

The point here is to make sure your business proposal examples make sense.

You’ll need to know industry averages such as cost of customer acquisition, revenue per customer, the average cost of goods sold, and admin costs to be able to create accurate estimates.

Our simple business plan templates walk you through most of these processes. If you follow them you’ll have a good idea of how to write a business proposal.

How to Write a Business Plan Step 9. Business Plan Example of Funding Requests

What is a business plan without a plan on how to obtain funding?

The Small Business Administration has an example for a pizza restaurant that theoretically needed nearly $20k to make it through their first month.

In our video, How to Start a $500K/Year T-Shirt Business (Pt. 1 ), Sanford Booth told us he needed about $200,000 to start his franchise and broke even after 4 months.

Freshbooks estimates it takes on average 2-3 years for a business to be profitable, which means the fictitious pizza company from the SBA could need up to $330k to make it through that time and still pay their bills for their home and pizza shop.

Not every business needs that much to start, but realistically it’s a good idea to assume that you need a fairly large cushion.

Ways to get funding for a small business

There are a variety of ways to cover this. the most common are:

• Bootstrapping – Using your savings without external funding.
• Taking out debt – loans, credit cards
• Equity, Seed Funding – Ownership of a percentage of the company in exchange for current funds
• Crowdsourcing – Promising a good for funding to create the product

Keep reading for more tips on how to write a business plan.

How funding will be used

When asking for business financing make sure to include:

• How much to get started?
• What is the minimum viable product and how soon can you make money?
• How will the money be spent?

Mike emphasized two aspects that should be included in every plan, 

How to Write a Business Plan Resources

Here are some links to a business plan sample and business plan outline. 

• Sample plan

It’s also helpful to follow some of the leading influencers in the business plan writing community. Here’s a list:

• Wise Plans –  Shares a lot of information on starting businesses and is a business plan writing company.
• Optimus Business Plans –  Another business plan writing company.
• Venture Capital – A venture capital thread that can help give you ideas.

How to Write a Business Plan: What’s Next?

We hope this guide about how to write a simple business plan step by step has been helpful. We’ve covered:

• The definition of a business plan
• Coming up with a business idea
• Performing market research
• The critical components of a business plan
• An example business plan

In addition, we provided you with a simple business plan template to assist you in the process of writing your startup business plan. The startup business plan template also includes a business model template that will be the key to your success.

Don’t forget to check out the rest of our business hub .

Have you written a business plan before? How did it impact your ability to achieve your goals?

80% of businesses fail... Learn how not to.

Learn from business failures and successes in 5 min or less. The stories, frameworks, and tactics that will make you a 10x better founder.

Brandon Boushy

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522 Etsy Shop Names You’ll Love (2024)

Did you know there are more than 7.5 million Etsy sellers earning a combined $13.3B?

It’s never been a better time to start selling your products on Etsy, but your success depends on numerous factors—including choosing a good Etsy shop name.

[su_note note_color="#dbeafc"]We’ll explain how to choose your Etsy shop name and provide an expansive list of ideas. Click on any of the links below to jump to the section that interests you.

What Makes A Good Name For An Etsy Business?

How to choose etsy shop names, 24 etsy shop name ideas, 22 best etsy shop names, 28 good shop names for etsy, 30 cute etsy shop names, 30 aesthetic etsy shop names, 30 more cute names for etsy shop ideas, 36 etsy store names for digital products, 46 creative store names for etsy, 34 handmade etsy shop name ideas, 28 etsy shop name ideas for printables, 22 cool shop names for etsy.

• 48 Shop Name Ideas for Etsy

36 Abstract Name Ideas For Etsy

30 additional etsy shop names ideas, 26 more etsy names, 30 unique business name ideas for etsy, 22 more shop name ideas for etsy.

• Use An Etsy Shop Name Checker [/su_note]

Get ready to learn a few key things that make a good Etsy shop name idea.

Good Etsy store name ideas are:

• Memorable: A good Etsy business name is easy to remember. It’s catchy, but it’s not complicated.
• Relevant: Etsy shop name ideas should be relevant to the products they sell. This can add memorability and improve SEO.
• Unique: Good Etsy shop names are unique. Business names help distinguish one brand from another and help prevent customer confusion.
• Appropriate: A good Etsy store name should be appropriate for the target audience. You wouldn’t want to give your Etsy shop an Italian name if it has no connection to Italy.
• Positive: Etsy shop name ideas should have a positive connotation. You want customers to think of pleasant things when they hear it.

Now that you know what makes a good Etsy shop name, let's look at how to choose one.

Choosing a good Etsy shop name is more than just finding shop name ideas you like. Find the perfect Etsy shop name idea by:

• Research Relevant Keywords: You’ll want to use an Etsy SEO research tool like eRank to establish which words in your niche have high search volume
• Come Up With Several Business Names: You’ll want to get a good list of Etsy shop name ideas because some of them are bound to be in use already.
• Check Availability: You’ll need to check your name’s availability with Etsy, the U.S. Patent and Trademark Office, and your secretary of state’s office. Check whether the website domain name and social media tags are available, too.
• Register the Etsy Name: Once you have chosen an Etsy shop name that is available on all platforms, you have to register it and start your Etsy store .

Pro Tip: Learn more about naming and running a successful Etsy shop from the owner of TagPup, who makes $60K a month and is featured in images throughout this blog post.

Consider some of these Etsy shop name ideas to inspire your shop name. Take note of the relevant keywords used and take a guess about what kind of online business they are.

1. Sweet Tooth Treats Emporium 2. Fashionista Finds 3. Whiskers and Wags Boutique 4. Rustic Charm Creations 5. Culinary Haven 6. Heavenly Home Accents 7. Wanderlust Wearables 8. Serenity Scent Studio 9. Pet Fashion House 10. Sip & Style 11. Wholesome Home Harvest 12. Sassy & Sweet Styles

13. The Petal Pusher 14. Crafty Gems 15. HandmadeTreasures 16. ArtisticDesigns 17. BespokeCrafts 18. CreativeArtifacts 19. DaintyWorks 20. Elegant Creations 21. Fancy Artistry 22. Gorgeous Keepsakes 23. Heirloom Jewelry Design 24. Innovative Crafts

Pro Tip: Before you create an Etsy store, research relevant keywords using a keyword research tool such as SEMrush .

The best store names help people remember your Etsy shop and what it sells.

1. Cozy and Bright 2. Whimsical Stitches 3. Crafted Curiosity 4. Wildflower & Co. 5. The Painted Acorn 6. Happy Clay Creations 7. Storyteller Jewelry Design 8. The Upcycled Nest 9. Whispering Pines Woodworks 10. Beacon & Bloom 11. The Inkwell Muse

12. Salty Sea Treasures 13. The Flourishing Fern 14. Starry Night Studios 15. Whimsy & Whiskers 16. The Gilded Thimble 17. The Recycled Rainbow 18. The Enchanted Loom 19. Coastal Crafts Unlimited 20. The Copper Dog 21. The Wandering Baker 22. The Wildflower Collective

Pro Tip: Check out Product Flint’s list of the top Etsy sellers to understand the kind of creative shop names that do well in the Etsy community. The vast majority state exactly what they do.

Many good business names are just fun. Check out the name ideas below for some unique store names.

1. CrystalsNCharms 2. The Hideaway 3. Sunwoven Threads 4. Crafted with Joy 5. Blooming Oasis 6. Blushing Brushstrokes 7. Happy Heart Ceramics 8. Whispering Willow Jewelry 9. ReBorn Treasures 10. Luminous Flame Co 11. Calico Cat Knits 12. The Scriptorium 13. Ocean's Embrace 14. Flourishing Fern & Fern

15. The Bibliophile's Nook 16. Starlight Symphony 17. Wags & Stitches 18. The Threaded Needle 19. The Golden Hive 20. Willow & Wren 21. The Whiskful Baker 22. Rainbow Revival 23. The Enchanted Fibers 24. Seaside Stitchery 25. Copper & Quill 26. The Globe Trotter's Kitchen 27. Rustic Raven Designs 28. Wildflower Meadow

Pro Tip: Don’t forget to check out the shop policies to make sure you don’t break any rules during your brainstorming phase. Review Etsy seller policies here .

You can build a strong brand identity with cute shop names for Etsy stores. Consider some of these Etsy store name ideas.

1. Adorable Accents 2. Bubble Bazaar 3. Cuddle Corner 4. Enchanting Embellishments 5. Fluffy Friends and Finds 6. Giggles & Grins Gallery 7. Happy Hearts 8. Joyful Jams 9. Kawaii Kollectibles 10. Little Lovables 11. Mini Marvels 12. Nifty Nest 13. Oh So Cute Creations 14. Playful Paws 15. Rainbow Realm

16. Snuggly Snippets 17. Whiskers Workshop 18. Adorbs Accessories 19. Bitty Bliss Boutique 20. Cheery Cottage 21. Darling Doodles 22. Enchanted Evergreens 23. Fluffy Feathers 24. Giggles Gallery 25. Honeybee Hideaway 26. Irresistible Inklings 27. Joyful Jangles 28. Kawaii Kingdom 29. Miniature Mansion 30. Nutty Nibbles

Pro Tip: You might include cute words for shop in your Etsy name ideas. According to Merriam-Webster , synonyms for shop include shoppe , market , emporium , bazaar , marketplace , showroom , outlet , boutique , and exchange .

Etsy shops might want to consider creative shop names that are pleasing to the eye or ear. Consider some of these Etsy business names for inspiration.

1. Ephemeral Ember Co. 2. Luminous Figments 3. Gossamer & Garnet 4. Cifera Studios 5. The Gilded Twig 6. Moonspun Stitches 7. Wildwood Muse 8. Indigo Bloom 9. Etched in Aether 10. Juniper & Clay 11. Luminescent Lore 12. Wisteria Way Designs 13. The Gilded Quill Studio 14. Ember & Oak 15. Whispering Pines Co.

16. Fabled Fibers 17. Moonlit Canvas 18. Coveted Curiosities 19. Wilderwood Workshop 20. Apothecary of Blooms 21. Celestial Loom 22. Stardust & Stone 23. Whisperwood & Basil Co. 24. Pemberley Promenade Designs 25. The Raven's Inkwell Studio 26. The Hundred Acre Workshop 27. Thornfield Manor Treasures 28. The Gatsby Collection 29. Dashing Sisters Studio 30. The Count's Cabinet of Curiosities

Pro Tip: Look at the words potential customers use in reviews of your competitors to find out the types of adjectives that might work well for your target market.

1. Bubbly Bunny 2. Snugglebug Station 3. Sprinkle Sunshine Shop 4. Cloud Nine Creations 5. Hedgy Hugs 6. Sweet Tooth Sweets 7. Quokka's Happy Place 8. Happy Camper Crafts 9. The Doodle Nest 10. Foxglove & Fern 11. Cupcake Cloud Creations 12. The Mismatched Menagerie 13. Starry Skies Studio 14. Acorn & Oak 15. Whispering Pines Bakery

16. Wondrous Weaves 17. The Twinkling Jar 18. Sprinkle Party Shop 19. The Cozy Cat Cove 20. Honeycomb Harmony 21. The Painted Petal 22. Whimsy & Wishes 23. The Little Mermaid Market 24. The Clayful Bunch 25. The Sunshine Studio 26. Moonlight Melody Maker 27. The Painted Pages 28. The Bookworm Bakery 29. The Dancing Dragonfly 30. The Cozy Burrow

Some of the best performing Etsy shops sell digital goods. Consider some of these Etsy shop names for stores that sell digital goods.

1. Bit Bazaar 2. Pixel Craft 3. Digital Vistas 4. Cyber Treasures 5. Virtual Symphony 6. Ethereal Pixels 7. Infinite Boutique 8. Quantum Gallery 9. Binary Elements 10. Matrix Trove 11. Silicon Expressions 12. Techno Zenith 13. Code Niche 14. Bit Gems 15. Circuit Artistry 16. Giga Originals 17. Terabyte Novelties 18. Zetta Gifts

19. Techno Vistas 20. Pixel Treasures 21. Virtual Symphony 22. Ethereal Boutique 23. Infinite Gallery 24. Quantum Elements 25. Binary Trove 26. Matrix Expressions 27. Silicon Zenith 28. Techno Niche 29. Data Gems 30. Pixel Artistry 31. Virtual Originals 32. Ethereal Novelties 33. Infinite Quarters 34. Quantum Pixels 35. Binary Gifts 36. Silicon Craft

1. Handmade Delights 2. Artistic Aura Studio 3. Unique Handiworks Workshop 4. Handmade Elegance Boutique 5. Artisanal Accents Avenue 6. Crafty Cornerstore 7. The Misfit Stitchery 8. Paper Crane Dreams 9. The Buttonhole Thief 10.Wildwood & Whimsy 11. The Sundown Symphony 12. Ember & Fable 13. Whispers in Stitches 14. The Moonlit Menagerie 15. Stardust Apothecary 16. The Unbound Brush 17. The Gilded Sparrow 18. The Painted Memory 19. The Buttonhole Bazaar 20. The Upcycled Oasis 21. The Indigo Hourglass 22. The Wandering Wildheart 23. The Honeycomb Haven

24. Fable & Filament 25. The Moonstone Muse 26. The Knotted Compass 27. The Patchwork Pegasus 28. Whispering Willows 29. The Sunlit Songbird 30. The Wandering Inkwell 31. The Unbound Canvas 32. The Gilded Whisper 33. The Painted Tapestry 34. The Whispering Quill 35. The Upcycled Carnival 36. The Wildflower Whisper 37. The Honeycomb Harvest 38. The Enchanted Bloom 39. The Gossamer Gallery 40. Whispering Pines Workshop 41. Sundrift Studio 42. The Unbound Palette 43. Copper & Quill 44. The Wandering Bookbindery 45. Wildflower & Clay 46. The Whimsical Stitch

Want to sell handmade products? Consider these names:

1. Handcrafted Quilts 2. Crafted Vodka 3. Bespoke Jewelry 4. Handwrought Rugs 5. Manual Crafts 6. Man-Made Knives 7. Hand Spun Threads 8. Crafty Quilts 9. Artisanal Touch Creation 10. Handcrafted Haven 11. Handmade Treasures Emporium 12. Artisan Alley 13. Handcrafted Harmony 14. Custom Cutlery 15. Custom-Built Beauties 16. Whispering Pines Workshop 17. The Crafty Cauldron

18. Stitched with Love 19. Wildflower & Thread 20. Happy Hands Studio 21. The Wandering Loom 22. The Painted Petal 23. The Coastal Craft 24. The Wildflower Workshop 25. Serene Stitchery 26. Upcycled Canvas 27. The Painted Pebble 28. The Button Box 29. Whispering Pines Pottery 30. The Sunlit Kitchen 31. The Stitching Bee 32. The Kneaded Dough 33. The Crafted Sparrow 34. The Rustic Loom

Pro Tip: Artisans and crafters might consider using words like handmade , homemade , handcrafted , crafted , custom-made , custom-built , bespoke , man-made , and woman-made . These words make it easy for potential customers to understand that your brand focuses on providing custom products.

Printables are any type of product sold as a digital product to be printed by the customer. A small business might consider some of the following Etsy shop name ideas for print products.

1. Paper Perfection 2. Printable Depot 3. Ink & Imagination 4. Digital Delights 5. Printables Palace 6. Inkwell Studio 7. The Pixelery 8. Paper Trail 9. Printables Plus 10. Digital Depot 11. Ink & Innovation Studio 12. Inkified 13. Printables Galore 14. Inky & Bright Co.

15. The Download Den 16. Wallflower Designs 17. The Printable Pantry 18. Whimsy & Ink 19. The Paper Petal 20. Happy Prints Shop 21. The Inkwell Studio 22. The Download Oasis 23. Flourish & Bloom Designs 24. Click & Bloom Designs 25. The Color Carnival 26. The Printable Palette 27. The Download District 28. You Print It

Pro Tip: An Etsy shop name for printable products might include words like print , pages , prints , sticker , ink , or printables .

1. Strap & Style 2. Eden's Essence 3. Timeless Knits 4. Creative Glassware 5. Elegant Pottery 6. Ceramic Haven 7. Woodwork Gallery 8. Silhouette Boutique 9. Bazaar in Bloom 10. Crafted Jewels 11. Textile Market

12. Printed Pearls 13. Linen Loom 14. Baking House 15. Weaving Warehouse 16. Embellished Artistry 17. Couture Quilts 18. Chic Charms 19. Style Studio 20. Fashion Forge 21. Beauty Beads 22. Craftsmanship Cabin

48 Shop Name Ideas For Etsy

1. Chic Boutique 2. Armor Artistry 3. Secure Sanctuary 4. Headgear Nook 5. Crowned Creations Co. 6. Cap Craze Boutique 7. Hat Haven 8. Stylish Snapbacks 9. Crowned Charm Boutique 10. Cap & Crown Creations 11. Headwear Heaven 12. Cap Connoisseur Co. 13. Hat Horizons 14. Trendy Toppers Studio 15. Cap Culture 16. Cozy Knits Corner 17. Sweater Weather Studio 18. Wanderlost Stitches 19. The Painted Fern 20. Midnight Loom 21. Foraged & Found 22. The Inkwell Archive 23. Starling Symphony 24. Ember & Stone

25. Paper Crane Dreams 26. The Clockwork Sparrow 27. Sun-Kissed Canvas 28. Moonlight & Mason Jars 29. The Painted Compass 30. The Wandering Button Box 31. Wisteria & Ink 32. The Painted Honeycomb 33. The Salty Seamstress 34. The Moonlit Foundry 35. Whispering Wildflowers 36. The Wandering Bookbinder 37. Starry Skies Soap 38. Whispering Willow Baskets 39. The Secret Garden Studio 40. The Painted Beetle 41. Whispering Waves Clay 42. Starlight String Studio 43. The Fabled Quill 44. The Painted Moonjar 45. The Secret Woodland 46. Starry Skies Designs 47. The Fabled Foundry 48. Whispering Willow Studio

1. Eclectic Edge 2. Abstract Alchemy 3. Infinite Expressions 4. Fractal Fantasy 5. Dreamweaver's Den 6. Liquid Art Gallery 7. Flux and Flow Designs 8. Whispering Wonder 9. The Kaleidoscope Collection 10. Fable & Fortune 11. The Moonlit Muse 12. The Wandering Veil 13. Ember & Echo 14. Whispers in the Wild 15. Stardust & Stitchery 16. The Unbound Thread 17. The Pinhole Galaxy 18. The Indigo Whisper

19. The Wandering Wildflower 20. Fable & Filament 21. The Moonstone Studio 22. The Knotted Muse 23. Whispering Clay 24. The Sunlit Canvas 25. Unbound Studio 26. The Gilded Quill 27. The Unraveled Nebula 28. The Whispering Loom 29. Indigo Flight 30. The Wildflower Muse 31. Fable & Fern 32. The Moonlit Workshop 33. The Gossamer Nest 34. Sundrift Bakery 35. The Unbound Palette 36. Ethereal Drippings

1. Impressions Inn 2. Kinetic Cove 3. Lavish Living 4. Mystical Marvels 5. Nurturing Nook 6. Opulent Oddities 7. Pristine Petals 8. Quirky Quarters 9. Radiant Relics 10. Serendipitous Styles 11. Tranquil Treasures 12. Urban Utopia 13. Visions Vault 14. Zenith Zone 15. Aurora's Atelier

16. Shade Spectrum Boutique 17. Sun Specs Sanctuary 18. Optic Emporium 19. Lens Loft 20. Spectral Studio 21. Glare Gear 22. Visionary Viewpoint 23. Radiant Ray 24. Solar Style Studio 25. Prism Paradise 26. UV Unique Boutique 27. Glint & Gleam Gallery 28. Lens Luxe Loft 29. Glimmer & Gaze Emporium 30. Reflective Studio

1. The Inky Quill 2. Copper & Cord 3. Wildflower & Ink 4. The Gilded Raven 5. Paper Crane Dreams 6. Moonlight & Moss 7. Bibliophile's Trinkets 8. Wolffish & Co. 9. Worn Tapestry 10. The Fern & The Fae 11. The Rambling Rose 12. Wyvern's Weave 13. Fair Isle Findings

14. The Midnight Bazaar 15. The Weaver's Muse 16. The Leaping Hare 17. The Starlit Strand 18. The Bookish Cat 19. Curio & Quill 20. Paper Lanterns 21. The Wildwood Carver 22. The Alchemist's Output 23. The Driftwood Dragon 24. Stardust & Sapphires 25. The Moonlit Weaver 26. The Bookworm's Trove

1. Owl Overload 2. Pawsome Treats 3. Quirky Quest 4. Radiant Rainbows 5. Sweet Studio 6. Tickle Me Teacup 7. Unicorn Tees 8. Whimsy Shirts 9. XOXO Accessories 10. Yummy Gummies 11. Zoo Friends 12. Apple Blossom Co. 13. Bunny Hop Haven 14. Cozy and Spice 15. Daisy Baskets

16. Stamp Stash Studio 17. Petite Postage Paradise 18. Tiny Treasures Trove 19. Stamp Sweeties 20. L'il Postage Pals 21. Miniature Mailbox 22. Stamping Smiles 23. Teeny Tiny Postage 24. Stamp & Smile Studio 25. Cute Corner Stamps 26. Pocket Postage 27. Little Love Letters 28. Dainty Stamps Den 29. Tiny Tales 30. Little Lick of Postage

1. Serenity's Crafted Treasures 2. Impressionist's Palette 3. Gallifreyan Gear 4. Celtic Weavers Guild 5. Baker Street Baubles 6. Hieroglyph Haven 7. Verses in Starlight 8. Griffin's Flight Workshop 9. Wildwood Meadows Apothecary 10. Renaissance Studio & Supplies 11. From the Phoenix's Ashes

12. Copper Lanterns & Light 13. Treasures of the Rising Sun 14. Stardust Strands & Yarn 15. The Alchemist's Elixirs 16. The Poet’s Press 17. Paper & Cord CraftsPop Art Prints 18. Celtic Weavers' Guild 19. Phoenix's Hoard Reborn 20. Whispering Sonnets Studio 21. Wildwood Willows Jewelry 22. The Riposte & Retreat

Use An Etsy Shop Name Checker

One of the crucial aspects of choosing an Etsy shop name is to check availability. Two people can’t use the same name.

You can check availability by using an Etsy name checker, like this one from BrandSnag .

Product Development: The Ultimate Guide (2024)

• What is the product development definition?
• How to create a product?
• What is the difference between methodology, strategy, and framework?

What is the product development process?

• What are product development cycles?
• What are the steps in the new product development process?
• What kind of software is used in product development?

What is product development?

• Pharmaceuticals
• Custom made products
• How he came up with his idea.
• How he used crowdfunding to cover the costs of product development.
• Challenges he faced while developing his products and market strategy.

Why is product development important?

• Pushes the world forward.
• Provides insights into your customer needs.
• Establishes potential demand.
• Increases the quality of your products.
• Reduces the cost of failed projects.

Some terminology help

• Methodologies

Product Development Methodologies

Agile product development

• Gather information

Lean product development

Waterfall product development.

• Idea generation : In this phase the product development team is looking for product ideas that will fulfill customer needs. If you don’t have a team, you can throw around product ideas with your friends, mentor, or hire advisors.
• Idea screening : This part of the product development process refers to eliminating ideas that your company cannot reasonably implement. For instance, if you need a billion dollars, you probably need to nix the idea. Lack of skills or the time to market might be other reasons to abandon a project, especially when 41% of projects fail to meet their deadlines. User feedback and market research surveys are ways to find out if potential customers would buy the product concept. This is the point when it is least costly to eliminate product ideas.
• Concept development : This is the latest you want to get the customer involved. You’ll want to pursue user feedback, market research surveys, or other means of establishing whether potential customers would buy the product concept. This is the point when it is least costly to eliminate product ideas. This can be as inexpensive as printing a t-shirt and wearing it.
• Market strategy: You’ll want to identify the product marketing strategy during this product development phase. You’ll want to consider the four P’s of marketing: product, price, promotion and place.
• Business case analysis : In earlier stages of new product development, you were focused on if they would buy the idea. Now you are trying to figure out whether the idea is worth the cost of business resources and time that will be expended.
• Technical design : This part of the product development cycle is focused on turning the prototype into a functioning sellable product.
• Product roadmap: I would typically want a product roadmap created much earlier because getting operations, marketing, finance, and production involved this late in the game will hinder the ability of other departments to really impact the concept development.
• Test marketing : You’ll want to do more market research to validate the entire product, including the packaging, advertising, and distribution. You’ll perform test marketing by presenting the final product to the target market and gathering input. Given the cost of market release, you want to make sure the product and its packaging are acceptable before you start paying for mass production, a marketing campaign, and shipping.
• Product launch : This is the market introduction to the product. You’ll be making the target market aware of your offering and start to develop market share based on how well you meet the market needs. 

You don’t have to follow a development process to be successful

Product development frameworks .

• Quality Control : ISO 9000  
• Cybersecurity : ISO/IEC 27001
• Occupational Health and Safety : ISO 45000

What Is Product Development Strategy?

• How to find opportunities to build your product line.
• How to decide which opportunities are good ideas.
• How to build upon the opportunities.
• How to spread word about the new products.
• How to monetize the new products.

Product Portfolio Strategies

How to create products

• Gauge interest
• Connect with prospective customers
• Perform feasibility analysis 
• Brainstorm ideas.
• Evaluate the feasibility of the product idea.
• Turn the idea into a set of specifications.
• Create a minimum viable product.
• Gather input.
• Bring the product to market.

What is the first step in the new product development process?

• Customer feedback
• Sales team observations
• Marketing team suggestions
• Design team limitations
• Proposed business model
• Distribution strategy
• Feature requests
• Competitor advancements in the field
• Other industries that have advancements
• New technology that allows you to create lighter more efficient products
• Science fiction movies (I’m still waiting on a replicator from Star Trek. I hope it works better than the one below, though.)

In product development, what are the specifications?

• What problem are you trying to solve with the project concept?
• Who will be using the product?
• What are the high-level processes the product development team needs to follow?
• What features does the product development need to include?
• What limitations should the product team take into consideration? Finances? Brand guidelines? The margin of error? Pricing points? Timeline? 
• How will it work within existing product lines? Does it need to integrate with existing products? Does it need new equipment to create?
• Do you have the supply chain to create the finished product?

What is product development in fashion?

• Draw, design on a computer, or find photos that show the inspiration for what you want the product to look like.
• Find materials you want to use. 
• Find a seamstress to help you create a prototype.
• Adjust the prototype to fit properly based on your target customer.
• Create cut sheets and tech packs . 
• Source and manufacture in bulk.

Software Specifications

• Requirements analysis: What are the end user goals? How will they use the software? Does the software need to work offline on mobile devices? How fast does it need to be (200 ms is considered perfect from a speed standpoint).
• Create specifications for a minimum viable product.
• Create wireframes or a prototype to show what the user will experience once the software is complete. These are just graphical representations. They aren’t fully functional. 
• Upon approval of the prototype, start building the backend and optimizing the software for performance.
• Deploy to beta testers.
• Fix major defects.
• Release to target market.
• Provide technical support.
• Add new features and improvements.

How can a company's salespeople help with product development?

• The sales team is customer-facing, while you might be more focused on the management of the company, employees, and financials. 
• Good employees are a great source of idea generation because they know what the customers ask them. 
• They know what challenges they currently have supporting existing products.
• Salespeople can help find external beta testers.
• They’ll spread the word as the product development project approaches a finished product.
• Sales team involvement will create a better overall product launch because the marketing strategy, sales strategy, and pricing are discussed earlier.
• Your team will be able to make a better business case to your target audience.
• They can warn you when you are about to invest thousands or millions in a product that won’t meet users needs.

What is the product development life cycle?

• Product development
• Product launch
• Increased adoption
• Peak market share
• Declining demand

What are the 5 stages of product development?

• Idea generation
• Product idea screening
• Concept development
• Monetization

What are the steps of internal product development?

• Idea generation: Start by defining the problem(s) you are trying to solve. You’ll want input from all employees who will be impacted.
• Product idea screening : Does the idea solve the problem? What new problems could it create? Is it cost-effective? Which appears to be the best solution?
• Concept development: Here you’ll want to focus on evaluating the best ideas further and answer the following questions: Do you have the ability to implement the idea in-house or will you need to hire subcontractors? Is the current work creating the expected results? Should alterations be made?
• Product development: Does the solution work effectively? How are you going to train the team on the product? What bugs need to be fixed?

What are the steps of external product development?

• Idea generation: Use customer feedback, surveys, and analytics to find ideas. 
• Product idea screening : Establish whether the idea makes sense by presenting it to customers before spending a lot of money.
• Concept development : Improve the idea using customer feedback.
• Product development : Build the product and gather information on whether it solves the customers' problem.
• Monetize : Marketing should kick into high gear. Start monitoring customer feedback as more people buy the product.

What are the steps of concurrent product development?

• Business owner has an initial concept to serve a target audience.
• Employees from all departments ask questions to evaluate the product concept.
• Each department works on their pieces in parallel and shares with others frequently.
• By the time the new product is ready for manufacturing, the team is ready to launch.

An engineer who needs to manage new product development might use what type of software?

• Planview : This software is supposedly phenomenal for enterprise-level organizations. (I have not tested it, though.)
• Monday.com : UpFlip and Monday.com have a partnership, and we consider Monday the best overall CRM and project management tool. You will definitely want to work with their support because many of their features are complex. 
• Craft.io : This program has two 5-star reviews on Trustpilot, and they say it is easier to use than Aha or ProductPlan. Check out the Craft.io site for more information. This software is particularly good when you need help prioritizing features.
• Walling : This software for product development is most helpful for visualization with mood boards and easily viewing inspirational ideas to understand better what people are thinking. It has a 4.5 to 5-star rating on different review sites. People seem to like it, but we haven’t tested it.

• ProductBoard : This software is built for customers to be highly involved in the process. It seems to do well and has 4.3 to 4.7- star reviews on different sites. I might test ProductBoard because there’s a software product I want to create.
• ProdPad : If you want software with AI for business analysis built-in, this is probably the product life cycle software for you. It helps identify easy wins and resource-wasting ideas to make your development team more efficient.
• Dragonboat : This product development software is focused on making it easier to manage your organizational performance regarding objectives and key results (OKRs). Dragonboat makes it easy for you to see where you are in the product roadmap and how it connects to the OKRs.
• ClickUp : We use ClickUp at UpFlip to manage our content. It has a product management template that I set up to check out. It’s fairly basic but covers everything you need from an operational aspect during the design process. Check out more useful ClickUp templates .
• Airfocus : The Airfocus platform is a newcomer that seems to be receiving a lot of recognition for how it functions. It has four 5-star reviews on Trustpilot and focuses on product roadmap prioritization and presentation.

Other useful software you might want

• Canva : Easy software for graphic design and social media marketing. I spent 66 hours using Canva for 180 designs in one year. It works for business cards and t-shirts, too.
• Autodesk Software : Autodesk is a leader in engineering software. You can use their inventor suite to design products, but it’s pricey.
• Google Forms : Use these to gather initial feedback and responses as you test marketing. They have just enough functionality for the product manager to evaluate the results quickly and are included if you use a Google business email. 
• Upwork or Fiverr : Both Upwork and Fiverr are great places to hire freelancers to help accomplish your goals without hiring product development companies. You can hire a top rated product development manager or hire a freelancer for just one aspect of the process. 

What is your experience with product development?

How to Start a $500K/Year Candle Business

Did you know that you can start a candle business for less than $100 and grow it into $500K in annual revenue?

Jocelyn and Jen started RXLA as a side hustle making gifts for coworkers, then started going to farmers markets, and eventually opened a candle store and expanded their offerings on their way to bringing in a half-million dollars per year.

We’ll share strategies for how to start a candle business with just a little money, smart marketing, and responsible scaling.

Click on any of the links below to jump to the section that interests you, or just continue reading.

[su_note note_color="#dbeafc"] Click on any of the links below to jump to the section that interests you, or just continue reading.

Candle Business Case Study: RX Candles Los Angeles

Candle industry summary, step 1: learn how to make candles, step 2: define your candle making brand, step 3: create a candle business plan, step 4: secure funding for your candle line, step 5: get business insurance, step 6: gather supplies, step 7: create an online store, step 8: market your business, step 9: sell candles, things to consider when starting a candle business, ideas for a candle making business, how to start a candle business with no money.

• Open Your Own Candle Business [/su_note]

Jocelyn started RX Candles in 2013 as a hobby. When the business venture received crowdfunding, she invited Jen to help create soy candles. The candle brand opened a local craft store, but the pandemic caused it to shut down.

They are still recovering from the hit they took from closing the retail store, but increasing their offerings and selling wholesale has helped them reach $500K in annual revenue with 50% gross margins.

Customers loved their homemade candles so much that they asked for other products, services, and ways of buying. As the sisters gained confidence in their products, they realized they needed to listen to their customers and provide the services they—and other potential customers—wanted.

Keep reading to learn more about the candle industry.

According to Grandview Research , the candle industry was worth approximately $13.6B in 2023 and is expected to reach $20B by 2030.

How much does it cost to start a candle business?

The candle industry has a low barrier to entry. According to Crowdspring , you should expect to spend between $9.5K to $78K to start a candle business, with an average of around $44K. But we’ve interviewed two business owners who say they started candle businesses for $100

A candle maker’s startup costs will vary depending on the cost of living in their location, supply and materials costs, and other factors.

Is candle making a profitable business?

A candle making business can be highly profitable, with gross margins of 50%. Ingredients, packaging, and marketing are some of the primary costs that will impact your profitability.

Can you make money selling candles from home?

Yes, you can start a candle business from home and make decent money, but it may be more cost-effective to utilize a fulfillment center to fulfill your orders. There may be restrictions in your town or homeowners’ association that impact the ability to run a home-based candle business.

Who are the major candle makers?

It’s helpful to research the major players in the candle market because you can identify gaps in the industry and ways to market your own products. The major candle makers include:

• Yankee Candle (Newell Brands)
• Luminex Home Décor & Fragrance
• MVP Group International, Inc
• Universal Candle
• Qingdao Kingking Applied Chemistry Co., LTD
• Empire Candle Co., LLC
• Hyfusin Group Holdings Limited
• Dandong Everlight Candle Industry Co., Ltd.
• Fushun Pingtian Wax Products Co., Ltd.

While the major players in the industry get most of the revenue, there is always room for new entrants to make a great living selling candles.

How to Start a Candle Business

It helps to have a path of action before you start a candle business. Follow the steps below to start a successful candle making business:

• Learn how to make candles.
• Define your brand.
• Plan your business.
• Secure funding.
• Get business insurance
• Gather supplies.
• Create an online store.
• Market your business.
• Fulfill orders.

Before you can start selling candles, you need to know how to make them. Jazmin, another successful candlemaker, explained how to accomplish it in our interview. Watch the interview below:

Let’s look at what you’ll need to get started.

Tools and Materials for Candle Making

Good tools and candle making supplies can make the job more fun and more efficient. At a minimum, you’ll need:

• 10 pounds of wax
• Pouring pitcher
• Pot to put the pitcher in to create a double boiler
• Thermometer
• Containers to hold the candles
• Scented fragrances

Jen told us:

[su_quote] Candle brands will want to scale responsibly, which means as the business grows, you’ll want to invest in better tools for efficiency. [/su_quote]

How to Make Candles to Sell

You can start by buying a candle making kit, but as you learn, you’ll want to pick your own wax and essential oils. The candle making process normally follows the steps listed below:

• Fill a larger pot with water and the pouring pitcher with wax flakes.
• Hang the pouring pitcher on the inside of the larger pot to effectively create a double boiler.
• Wait for the wax to melt, which will take 45 minutes to an hour depending on the temperature.
• Pour the wax into candle molds.
• Add scents and wicks.
• Let them dry.
• Package the candles.

Jazmin told us:

[su_quote] When you make candles, only about 20% of the scent will actually be smelled, so you need to be aware of that [when adding scents], otherwise you won’t be able to smell it. [/su_quote]

You’ll want to create a coherent brand for your candle making business. Some of the things you’ll need to consider include:

• Target market: Who will buy your candles? Will you be mass-producing candles or creating a luxury brand image? Identifying your target market makes marketing and branding efforts easier.
• Brand identity: What makes your candles unique? What sets them apart from other products on the market? Your brand identity will include your business name, logo, colors, and physical and digital design. Learn more about candle business names here .
• Brand story: What inspired your candle business and the branding for it? A good story helps you connect with customers and create a more meaningful experience.
• Brand values: What does your candle company hold dear? Think about how you operate your brand and what you want it to tell people. Your values should guide everything you do, including your materials, packaging, and shipping methods.

Creating a brand won’t happen overnight, but after continually telling your story and showing your values.

Every business should have a workable plan to help guide decisions. When writing a candle making business plan, you’ll want to include the following:

• Niche: Explain what makes your small candle business different and describe the target audience that your products appeal to.
• Validate your business idea: Explain the research you have performed to establish your candle business will appeal to your target audience. Learn how to validate an idea .
• Business structure: New businesses normally choose a limited liability company or sole proprietorship as their business structure .
• Budget: Estimate your costs to start a candle business and operate it for one to three years. The budget will help you understand how much funding you’ll need until the business can support itself and your lifestyle.
• Business bank account: Open a business bank account to help separate your personal and business expenses. You can also get an Employer Identification Number ( EIN ) to open a business bank account and access materials at wholesale prices.
• Marketing plan: A marketing plan spells out how your candle business will approach products, pricing, placement (where you sell the goods), and promotion of your candles.

The biggest thing to remember about writing a business plan is it should be easy to understand, well-documented, and as short as possible.

Download our free business plan template and work through it while watching the video below.

Jen suggests self-funding when you start a candle brand. Other small business funding options include crowdfunding, a standard business loan, a Small Business Administration loan, or an interest-free loan from friends and family.

Learn how to get business loans here .

You’ll want to get insurance when you create candles. Candles can start fires, and small business owners risk lawsuits from customers or employees. We suggest starting your business insurance search with Simply Business because it compares rates from the leading insurance companies.

Learn more about small business insurance here .

New business owners will need to get the candle wax, different fragrance oil blends, packaging, and any equipment they don’t already have.

Depending on your startup capital and business needs, you may be able to buy most of the products on Amazon, or you may need to reach out to manufacturers.

You’ll want your own website for candle sales. That means you’ll need a domain name and a website builder . Then you’ll need to create a home page and product pages for each type of candle you sell. You might want categories like:

• Scented candles
• Luxury candles
• Decorative candles
• Fragrance oils
• Tea light candles
• Container candles
• Birthday candles
• Liquid candles
• Insect repellant candles
• Flameless candles
• Pillar candles
• Aromatherapy candles

Read more about the different types of candles on Styles at Life .

You’ll want to market your candles to your target market. Each small candle business will have a different marketing strategy depending on their target market, but most candle companies will include a combination of:

• Social media marketing
• Email marketing
• Content marketing
• Traditional marketing channels

Jen explained that their marketing strategy consists of local farmers markets, pop-up shops, social media, and email marketing. She also explained:

[su_quote] I feel like our biggest mistakes were not going digital fast enough. If we had a website and collected emails from the beginning we would have grown much faster. [/su_quote]

Fulfilling orders is another crucial part of running a candle line. When you’re selling online, this will mean packaging and shipping the candles to consumers or other small business owners.

When you sell at local markets or a local craft store, you’ll still need packaging, but it could be a decorative box and branded bags as opposed to a box that is ideal for shipping.

When considering how to start a candle business, you’ll need to consider:

• Where am I going to sell my candles?
• Am I going to hire employees or do it all myself?
• What technology do I need when starting candle business operations?
• What will my pricing strategy be?

Let’s look at each of these.

Find a Location for Your Candle Business

There are a variety of places you can sell your candles. If you are wondering how to start a candle making business at home, you can do so using this guide and sell them on your website. Other options include:

• Retail stores
• eCommerce platforms
• Flea markets
• Your local farmers market

A candle business makes different amounts of money depending on the locations they sell their products and the cost of doing business for each type of store.

Hire Employees for Your Candle Business

A dedicated candle maker may grow to the point of needing to hire employees. When you do, you’ll need to get an EIN if you haven’t already. This is how the IRS identifies employers.

You’ll also need to have payroll software and optional benefits. Many accounting software providers include payroll resources, but if you want to consider other options, check out our article where we compare the 15 best HR companies .

The Department of Labor requires employers to display poster notices for employees, either electronically or physically in the workplace. A comprehensive employer guide for how to display these posters is available on their website.

You’ll also need to follow the following requirements:

• The Federal Unemployment Tax Act (FUTA) requires any business with employees to pay a payroll tax.
• Employment Eligibility Verification (Form I-9) allows business owners to verify the identity and employment clearance of every person they hire.
• Meeting Occupational Health and Safety Administration ( OSHA ) standards and enforcing workplace safety are necessary for any business.
• Worker’s Compensation Insurance is required to protect your business and employees in case of injury.

Keep reading for information on the technology you’ll need.

Implement Technology to Run a Candle Making Business

When following this step-by-step candle business guide, you’ll need to implement some technology. Most of the technology that RXLA uses is for marketing purposes. They mentioned using Klaviyo for their candle brand email marketing.

Create a Pricing Strategy

One of the easiest ways to ensure you’ll make good money is to keep your candle startup costs low and charge market value for the products. You’ll want to target a gross margin of 50% for your candle business. To calculate the price easily:

• Add up the total costs for a batch of candles
• Multiply the cost by 2.
• Divide by the number of candles created.

That should put you right at 50% gross margins.

Your pricing strategy can be created in a few different ways. The primary ways of pricing candles are:

• Add up all your costs and divide them by the number of candles you make.
• Add the amount you want to earn for each candle sold based on the time it takes you to make, sell, package, and ship each candle. So if you spend four hours making and shipping 200 candles and want to make $100 per hour, that’s $2 per candle you add to the costs.
• Look up comparable products and price your items based on them.
• Create a brand story that makes your particular candle more valuable. This is the strategy that Jazmin used.

Whichever strategy you use, make sure you are realistic about how much time you are willing to dedicate to it. If you are only going to spend a few hours a day, you can’t make as much as if you treat it like a full-time job.

Candlemakers primarily target women, but according to the National Candle Association (NCA), both men and women consider candles appropriate gifts. They say the most common times people buy candles are:

• During the holiday shopping season, which is when 35% of sales occur
• Housewarming gifts
• Gifts at dinner parties
• With thank you notes
• For adult birthdays

To start a candle business with no personal finances, you’ll normally need to focus on selling candles using a “print”-on-demand or drop shipping strategy. Once you have built up some money from candle sales, you can start reinvesting in the supplies and equipment to start making your own homemade candles.

The good news is that it’s inexpensive to start selling candles. Both of the business owners we talked to have started with $100.

Open Your Own Candle Business

Making candles might not seem like a profitable business, but it has the potential to blossom into a high income. Jocelyn and Jen started crafting candles as gifts, sold them in farmers markets, opened and closed a brick-and-mortar store, and were late to the digital marketing game, but they still reached an impressive $500K in annual revenue.

Their story teaches us valuable lessons about resilience, adaptability, and the power of listening to customers. They found ways to overcome challenges and expand their offerings. You can use their candle business tips to succeed too.

The candle industry is ripe with opportunity. With global revenue projected to soar in the coming years, candle business owners can sell candles to make a great living. And the beauty of it all? Given Jocelyn and Jen started with $100, a candle business is one of the best businesses to start from home.

As you embark on your candle making journey, remember that success lies not just in the quality of your product but also in the strength of your brand, the efficacy of your business plan, and the dedication to continuous improvement.

Whether you dream of creating luxury candles or catering to a specific market segment, the possibilities are limited only by your imagination and determination.

So ignite that spark of creativity, pour your passion into every candle you craft, and watch as your business illuminates not just spaces but lives, one flickering flame at a time.

nice work https://binarychemist.com/

My Name is PRETTY NGOMANE. A south African female. Aspiring to do farming. And finding a home away from home for the differently abled persons in their daily needs.

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Free Business Plan Templates in Excel

By Joe Weller | September 27, 2020

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In this article, we’ve rounded up an extensive list of free business plan templates and samples for organizations of all sizes. You can download all of the plans in Excel. 

Included on this page, you’ll find business plan templates in Excel , business plan checklists in Excel , business plan financial templates in Excel , and more.

Business Plan Templates in Excel

These Excel business plan templates are designed to guide you through each step of a well-rounded strategy that supports your marketing, sales, financial, and operational goals.

Business Plan Template in Excel

This Excel business plan template has all the traditional components of a standard business plan, with each section divided into tabs. This template includes space to provide the executive summary, target audience characteristics, product or service offering details, marketing strategies, and more. The plan also offers built-in formulas to complete calculations for sales forecasting, financial statements, and key business ratios.

Download Business Plan Template

Excel | Smartsheet

One-Page Business Plan in Excel

To check the feasibility of your business concept, use this single-page business plan template. The template allows you to jot down the core details related to your idea. This template also includes room for you to provide concise information about what you do, how you do it, why you do it, who your idea serves, your competitive advantage, your marketing strategies, and your success factors. At the bottom of this one-page plan, you’ll find a table to conduct a SWOT (strengths, weaknesses, opportunities, and threats) analysis. Find more downloadable single-page plans and examples at “ One-Page Business Plan Templates with a Quick How-To Guide .”

Download One-Page Business Plan

Excel | Word | PDF | Smartsheet

Sample 30-60-90-Day Business Plan for Startup in Excel

This 90-day business plan is designed for startup companies to develop a 90-day action plan. This template gives you room to outline the following: main goals and deliverables for each 30-day increment; key business activities; task ownership; and deadlines. This template also includes a built-in Gantt chart that adjusts as you enter dates. Visit “ 30-60-90-Day Business Plan Templates and Samples ” to download more free plans.

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

For more free business plans in a wider variety of formats, visit “ Simple Business Plan Templates .”

Business Plan Checklists in Excel

These business plan checklists are useful for freelancers, entrepreneurs, and business owners who want to organize and track the progress of key business activities.

Business Planning Checklist with Timeline in Excel

Use this checklist to keep your business planning efforts on track. This template enables you to add tasks according to each phase of your plan, assign an owner to each task, and enter the respective start and end dates. The checklist also enables you to create and color-code a visual timeline when you highlight the start and end dates for each task.

Download Business Planning Checklist with Timeline Template

Business Plan Checklist with SWOT Analysis in Excel

Use this business plan checklist to develop and organize your strategic plan. Add the name of the business activity, along with its status, due date, and pertinent notes. This template also includes a separate tab with a SWOT analysis matrix, so you can evaluate and prioritize your company’s strengths, weaknesses, opportunities, and threats.

Download Business Plan Checklist with SWOT Analysis - Excel

Business Startup Checklist in Excel

This checklist template is ideal for startup organizations. It allows you to list and categorize key tasks that you need to complete, including items related to research, strategic relationships, finance, development, and more. Check off each task upon completion to ensure you haven’t missed or overlooked any important business activities. Find additional resources by visiting “ Free Startup Plan, Budget & Cost Templates .”

‌Download Business Startup Checklist Template

Business Plan Financial Templates in Excel

Use these customizable templates to develop your organization’s financial plan.

Business Startup Costs Template in Excel

Use this template to estimate and track your startup and operational costs. This template gives you room to list line items for both funding and expenses; you can automatically calculate totals using the built-in formulas. To avoid overspending, compare budgeted amounts against actual amounts to determine where you can cut costs or find additional funding.

Download Business Startup Costs Template

Small-Business Budget Template in Excel

This simple business budget template is designed with small businesses in mind. The template helps you track the income and expenses that you accrue on a monthly and yearly basis. To log your cash balances and transactions for a given time frame, use the tab for cash flow recording.

Download Small-Business Budget Template - Excel

Startup Financial Statement Projections Template

This financial statement projections template includes a detailed profit and loss statement (or income statement), a balance sheet with business ratios, and a cash flow statement to analyze your company’s current and future financial position. This template also comes with built-in formulas, so you can calculate totals as you enter values and customize your statement to fit the needs of your business.

‌ Download Startup Financial Statement Projections Template

For additional templates to help you produce a sound financial plan, visit “ Free Financial Templates for a Business Plan .”

Business Plan Marketing and Sales Templates in Excel

Use these downloadable templates to support and reinforce the marketing and sales objectives in your business plan.

Sales Forecast Template in Excel

This sales forecast template allows you to view the projected sales of your products or services at both individual and combined levels over a 12-month period. You can organize this template by department, product group, customer type, and other helpful categories. The template has built-in formulas to calculate monthly and yearly sales totals. For additional resources to project sales, visit “ Free Sales Forecasting Templates .”

Download Sales Forecast Template

Marketing Budget Plan in Excel

This marketing budget plan template helps you organize and plan your campaign costs for key marketing activities, such as market research, advertising, content marketing , and public relations. Enter the projected quantity and cost under each campaign category; the built-in formulas enable you to calculate projected subtotals automatically. This template also includes a graph that auto-populates as you enter values, so you can see where your marketing dollars are going.

Download Marketing Budget Plan Template

Other Business Plans in Excel

Use these business plan templates to conduct analyses and develop a plan of action that aligns your strategy with your main business objectives.

Business Action Plan Template in Excel

Use this basic action plan template to develop a roadmap for reaching your goals. Add a description of each action item, assign the responsible party, and list the required resources, potential hazards, key dates, and desired outcome. You can use this template to develop an action plan for marketing, sales, program development, and more. 

Download Business Action Plan Template

Business Plan Rubric in Excel

Once you complete your business plan, use this rubric template to score each section to ensure you include all the essential information. You can customize this rubric to fit the needs of your organization and provide insight into the areas of your plan where you want to delve more deeply or remove unnecessary details. By following these steps, you can make certain that your final business plan is clear, concise, and thorough.

Download Simple Business Plan Rubric

Competitive Analysis Template in Excel

This template enables you to analyze the competitive landscape and industry for your business. By providing details related to your company and competitors, you can assess and compare all key areas, including the target market, marketing strategies, product or service offerings, distribution channels, and more.

Download Competitive Analysis Template

Excel  | Smartsheet

For additional free templates for all aspects of your business, visit “ Free Business Templates for Organizations of All Sizes .”

Turbo-Charge Your Business Plans with Templates from Smartsheet

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When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

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Download Free Business Plan Examples

Download a free business plan in pdf or word doc format to make writing a plan fast and easy, find your sample plan.

Discover the sample plan that best fits your business. Search our gallery of over 550 sample business plans and find the one that's right for you.

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What You'll Get:

A complete business plan Unlike other blank templates, our business plan examples are complete business plans with all of the text and financial forecasts already filled out. Edit the text to make the plan your own and save hundreds of hours.

A professional business plan template All 550 of our business plans are in the SBA-approved format that’s proven to raise money from lenders and investors.

Instructions and help at every step Get help with clear, simple instructions for each section of the business plan. No business experience necessary.

A Word doc you can edit We don’t just have PDF documents that make editing a challenge. Each plan is available in Word format so you can start editing your business plan example right away.

Key Sections Included in our Example Business Plans:

Executive Summary : A quick overview of your plan and entices investors to read more of your plan.

Company : Describes the ownership and history of your business.

Products and Services : Reviews what you sell and what you’re offering your customers.

Market Analysis : Describes your customers and the size of your target market.

Strategy and Implementation : Provides the details of how you plan on building the business.

Management Team : An overview of the people behind the business and why they’re the right team to make the business a success.

Financial Plan : A complete set of forecasts including a Profit and Loss Statement, Cash Flow Statement, and Balance Sheet.

Looking for a sample business plan PDF? You can download a few PDF examples below:

• Accounting and Bookkeeping Sample Business Plan PDF
• Agriculture Farm Sample Business Plan PDF
• Cleaning Service Sample Business Plan PDF

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Strategic Plan Template

Use this free Strategic Plan Template for Word to manage your projects better.

When a company wants to map out its long-term business objectives and how it’ll get there, they use a strategic plan. Our free strategic plan template captures all topics that any company needs to define, so everything is aligned with the overall mission and vision of the company. More than that, the free strategic plan template guides you through the actions, resources and costs that will help you get there.

What Is a Strategic Plan?

A strategic plan is a document that company leaders use to capture the company’s future vision, goals and objectives. Unlike a business plan that focuses on short-term goals of serval months to several years, a strategic plan looks at the mid-to-long-term goals such as 3-5 years but is often longer than that.

The strategic plan should be easily shared as it provides a map for the whole company to follow in order to meet its goals. The strategic plan isn’t only shared, but it’s thoroughly understood by company employees, customers, business partners and investors.

Strategic planning and the strategic plan that comes from this process isn’t a one-time occurrence. Teams should conduct strategic planning regularly to quickly respond to changes in the business, industry, legal and regulatory conditions. As conditions shift, so should the response plans.

Why You Need a Strategic Plan Template

A strategic plan template is a great tool in that it’s already laid out for you. Everything you need to define is outlined and saves you the time and effort of creating a new document. Templates are great for creating an archive of consistent documentation, especially as historical data can influence your current strategic plan.

In more general terms, all businesses need a target or direction to work towards. Strategic plans are like the roadmap that gets you there and defines the landscape. If you don’t know where you’re going, you’ll never know when you get there. That’s true from the highest executive to the newest employee as well as customers, investors and so on.

Strategic plans also help you track your goals across departments. Each department can then set its own goals to help the business achieve its larger goals. These various initiatives can be monitored and tracked with key performance indicators (KPIs). This can be extended to business units, teams and even individuals so everyone is working towards the same goals.

A strategic plan template is only a static document. To implement that plan you need project management software. ProjectManager has online roadmaps that allow you to manage all the projects that feed into your company’s overall mission. You can track your tasks, budgets, resources, processes and more, so you know you’re always progressing. Of course, you can build a strategic plan with milestones in the software, too. Try ProjectManager today for free.

Who Should Use This Strategic Plan Template?

The free strategic plan template can be filled in by any number of people depending on the business. Usually, though, this responsibility falls on the shoulders of the owner or top business managers.

However, sometimes specialists are employed or the whole company becomes involved in the strategic planning process. In fact, more voices provide a wider perspective. One person should oversee refining those different perspectives in order to rein in the possible chaos of too many chefs in the kitchen.

Once the strategic plan is finalized, it should be shared among the company. The strategic plan template acts as a guide to keep the long-term goal in sight and how to get there. For some businesses, the customer should also be aware of the strategic plan. Other companies will want to share the strategic plan with investors.

How to Use This Strategic Plan Template

When you download our free strategic plan template for Word, you’ll find it’s broken up into sections. The free template is completely customizable so you can add or subtract as many sections as you need to flesh out your strategic plan. What we provide you with is the backbone of any thorough strategic plan, which is as follows.

1. Executive Summary

To start, you want to summarize what will follow. That’s all the executive summary is; a short introduction to the important information that’ll be fleshed out in the strategic plan. It gives an overview to investors and stakeholders.

2. Vision Statement

A vision statement is a statement that declares the mid-to-long-term goals of the company. Think of it as the target you want to hit with your strategic plan. What this statement should do is project your company into the future and in so doing help to define the plan and execution of getting you there.

3. Mission Statement

The mission statement is a short description of the purpose of the company. It should be no longer than one to three sentences at most and explain what the company does, who it serves and how it’s different from its competitors. But more than a dry definition, it should be inspirational, offering direction and focus for employees and giving customers a clear picture of what they can expect from the company.

4. SWOT Analysis

SWOT stands for strengths, weaknesses, opportunities and threats. A SWOT analysis is used to assess those four aspects of the company. This is how a company can capture its current performance and build a strategy to achieve its future goals. But beyond internal factors or charting the company, make sure to explore external factors as well. This provides a fuller picture of how a company can carve a route to reach its objectives.

5. Business Goals

Business goals should define the target that a company is aiming for in the future. By doing this, a company has a way to measure its success, communicate these goals to its employees and ensure the company is going in the right direction.

6. Marketing Plan

The marketing plan outlines a company’s advertising strategy. It can be used to generate leads and reach a target audience, outreach and PR campaigns. Also included is how the company will measure the effectiveness of the initiatives.

• Market research:  Uses competitive analysis, testing, surveys, etc., to determine the target audience and what needs the company is fulfilling or pain point it’s resolving.
• Marketing campaigns: These include promotions, value propositions, differentiation factors, pricing, distribution channels, etc., to see the product or service.
• Marketing KPIs: Using various metrics will help the company measure the success of its campaigns.

7. Operations Plan

The operation plan is an outline of the strategic plan’s goals and how the company plans to meet them. It’s an action plan that shows team members what they’re responsible for in achieving the goals of the strategic plan.

8. Financial Projections

When making financial projections for a company’s strategic plans they should include a forecast of the income statement, the balance sheet and the cash flow statement. These financial projects like the strategic plan are mid-to-long term.

Identify the team members with the skills and experience who will be responsible for executing the operational plan set forth in the company’s strategic plan.

Other Templates to Help with Your Strategic Plan

The free strategic plan document template for Word is a helpful tool to outline a company’s mid-to-long-term objectives. We have dozens of other free templates for Word and Excel that can help you manage every phase of a project, from planning to closure. Here are just a few of the free templates that we offer for download that are related to strategic planning.

Executive Summary Template

If you need help with the executive summary portion of the free strategic plan template, this free executive summary template is a great asset. It breaks down the points you’ll want to capture for an effective executive summary and is a valuable tool to complete that section of the strategic plan.

Marketing Campaign Template

The marketing plan is another section of the strategic plan that can be fully fleshed out with the free marketing campaign template. It outlines all the steps you need to introduce your product or service to market. It has fields to collect the goals of the campaign, identify the target audience and much more.

SWOT Analysis Template 

We’ve included a small SWOT analysis table in the free strategic plan template, but you might want more space to capture this important data. If so, use our free SWOT analysis template for Word, which you can then attach to the strategic plan template. This colorful template helps you see where you are and offer guidance to get you where you want to be.

ProjectManager Is a Robust Planning Tool

Free templates are a great way to gather information and develop a strategic plan, but they’re not as good at managing that plan once you implement it. You need more robust tools, not static documents or spreadsheets. ProjectManager is online project management software that connects teams and helps them plan, manage and track their progress in real time.

Track Progress with Real-Time Dashboards

You’ve put the strategic plan in the Gantt chart and can now see the roadmap in a visual timeline. But to make sure you keep to that schedule you need to have a way to monitor progress and performance. Our real-time dashboards track metrics such as time, cost and more all in real time so you can respond quickly to changes that threaten your goals. Unlike other lightweight tools, there’s no configuration or set. It’s ready when you are.

Work How You Want with Multiple Project Views

Gantt charts are great for managers, but they’re not the ones who are will execute the strategic plan. It’s a group effort that involves every department in the company from marketing and sales to IT and manufacturing, and they all use different tools. That’s why we offer multiple project views that share the same real-time data whether you’re using a list view, the visual workflow of a kanban or a calendar to capture important dates. Everyone is working from a single source of truth.

Related Content

Strategic planning is a big subject and we’ve only scratched the surface. If you want to learn more, you’re in luck. ProjectManager isn’t only a great tool to create and manage your strategic plan, it’s also the online hub for all things project management. We have free blogs each week, tutorial videos, eBooks, white pages and, of course, free templates. Here are a few links to follow and read more about strategic plans.

• 15 Free Word and Excel Templates for Business
• Strategic Planning in Business
• Strategic Planning Models: An Introduction to 5 Popular Models
• A Quick Guide to Strategic Initiatives 

ProjectManager Helps You Reach Your Strategic Goals

ProjectManager is award-winning software that helps you plan, manage and track your strategic plans. Our collaborative platform connects everyone across departments and time zones. With features that help you manage risk, tasks and resources you’re more likely to adjust to changes in the market and hit your target. See why teams in organizations as varied as NASA, Siemens and Nestle use our tool to deliver success. Get started with ProjectManager today for free.

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10 Best Templates to Create a Dynamic Master Action Plan [Free PDF Attached]

Deepika Dhaka

You might have seen a few planning strategies going wrong at some phase in your business, only to feel that you have wasted your time and money. Unfortunately, no business project is 100% smooth as it includes specific challenges. There are many reasons that your planning could go wrong, one being an improper execution due to a poorly designed master action plan.

A master action plan is more than a simple to-do list to match your tasks directly with your goals for maximized results. It is the leader's responsibility to make a robust action plan, focused on the outcome of each task and its contribution towards the achievement of the goal. This way, you can reduce the employee's frustration to make them more efficient at work. Therefore, a well-defined action plan is a must for an organization.

How to Ace a Master Action Plan?

An effective master plan should offer specific tactical actions along with company objectives. So make your tasks S.M.A.R.T – Specific, Measurable, Achievable, Realistic, and Time-sensitive, clarifying the set expectations and timeline. Besides, follow these critical steps to ace a perfect action plan. 

Firstly, involve your team in the process from beginning to end and provide the details for each action with a concise timeline. Secondly, allocate sufficient human, financial, and other critical resources to avoid any gap. Thirdly, have follow-ups to track implementation by setting certain milestones. Finally, communicate the plan clearly with the whole team and keep them updated on the progress.

Now you know the crucial steps for making an appropriate master action plan for your team. However, when we talk about the best way to present an action plan, we must consider a PowerPoint presentation – designed and structured in a knowledgeable yet impressive manner. 

To help you cover all the factors of the master plan, we present our 10 professionally designed PPT templates. You can utilize them to train your team and impress the collaborators. The designs are adjustable and you can customize them according to your content. Besides, you will be glad to know that all these presentations are editable and can be saved as a JPEG, PNG, or PDF file.

So let’s dive into them!

Template 1: Master Plan to Kick Start A Coffee House 

Are you planning to open a café but confused about delivering the plan to your team? Here's a perfect master action plan template that will help you elaborate on the aspects, including the agenda, table of contents, business overview, executive summary, business challenges, initial menu, the marketing plan, operations, milestones, hiring personnel, etc. So download it and build relationships with your prospective investors.

Download this template

Template 2: Master Plan Business Architecture PPT 

A business agenda is among the first steps of defining a master action plan. Explain your business agenda with this circular pattern single slide template. It covers four crucial pillars of any business project, including business architecture, IT architecture, governance, and roadmap development. Further, you can use this design to mention the factors of each pillar with different color patterns.

Download this template 

Template 3: Master Plan Schedule PowerPoint Slide 

Showcase your master schedule with this linear graph slide that describes the execution control and planning phase. This template will help you present your yearly business plan from short to long term, i.e. from days to months to years. You can also use it to modify the data as per your business analysis and include key points in the text. Additionally, this template is ideal for expressing the concept of year-long business plans and project agendas attractively.

Template 4: Master Plan Market Assessment PPT 

Choose this market assessment and strategy master action plan template that highlights eight stages of development. This design illustrates each step in chronological order to make it easier for you to express the plan systematically. This template is the first choice of an organization when it wants to present a strategy plan, master plan, or plan of attack. So ace your presentation with this slide having fantastic synchronization of related colors and shades.

Template 5: Master Plan Process PowerPoint Slide

Develop your business projects with this seven-stage design covering all the major plans and actions. This PPT template will easily let you portray complex data in a comprehensive form for your team to understand and make rapid growth. So include this slide in your PPT presentation and illustrate the parameters, such as data, finance, resource, and the adoption of a plan. Download now!

Template 6 : Master Plan Elements PowerPoint Slide 

Document your vision, mission, goals, objectives, and policies from top to bottom with this visually attractive template. It clarifies the concept with an attractive pyramid diagram. This Master action plan template allows you to display your global business approach and communicate it to the partners, showing the strength of your business foundation. So download this template, set up your priorities, and fill it with the desired text.

Template 7: Master Plan Strategy Process slide

Present your strategy to the team with this single slide explaining every step of the process. Starting from the strategic direction, this presentation will help you define all the actions, including drivers, expected results, initiatives taken, finances, facility requirements, and environmental considerations. Isn't it a straightforward yet catchy design covering essential aspects of a strategic master plan? So download it without any delay.

Template 8: Master Plan Business Strategic Facility HR Planning

Just like every other department, HR needs its master plan too. If you are looking for strategic HR planning, this template is the right choice for you. Use this template to define categories, subcategories, or a hierarchy of planning. In this PPT graphic, you can also modify the color, text, and font for personalized appearance.

Template 9: Master Production Planning PPT 

Illustrate the annual production process with this master production planning layout, including products, months, year of production, and the number of units. It is a handy template that defines four production stages – routing, scheduling, dispatching, and follow-up to ensure better coordination for smooth manufacturing and timely delivery. So grab it now, add data and update the team about your current/future production planning.

Template 10: Master Plan Business Concept PPT

Give a brief description of an idea to your audience with the help of this business concept slide. It consists of an overview of the business concept related to its future growth and the key deliverables. Therefore, bring everything together through this template and win your stakeholders and investors by defining your business clearly. So if you have a start-up company, this PPT template is ideal for pitching your ideas to different incubators.

Pick your favorite master action plan template among these and add a unique element in your PPT presentation. If you are short on time to create an emergency action plan from scratch, check out this impressive guide for quick help.

Download the free Master Action Plan Template PDF .

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Top 25 Business Action Plan Templates to Map Out Winning Company Strategies

• Top 25 Deployment Process Templates to Run Operations Error-Free

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Manufacturing Business Plan PDF Example

• May 7, 2024
• Business Plan

Creating a comprehensive business plan is crucial for launching and running a successful manufacturing business. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your manufacturing business’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a manufacturing business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the manufacturing industry, this guide, complete with a business plan example, lays the groundwork for turning your manufacturing business concept into reality. Let’s dive in!

Our manufacturing business plan covers all essential aspects necessary for a comprehensive strategy. It details operations, marketing strategy , market environment, competitors, management team, and financial forecasts.

• Executive Summary : Provides an overview of the manufacturing company’s business concept, market analysis , management, and financial strategy.
• Facilities & Equipment: Describes the facility’s capabilities, machinery, and technological advancements.
• Operations & Supply: Outlines the production processes, supply chain logistics, and inventory management.
• Key Stats: Offers data on industry size , growth trends, and market positioning.
• Key Trends: Highlights significant trends impacting the industry, such as automation and localization.
• Key Competitors : Analyzes primary competitors and differentiates the company from these rivals.
• SWOT: Analyzes strengths, weaknesses, opportunities, and threats.
• Marketing Plan : Outlines tactics for attracting new contracts and maintaining client relationships.
• Timeline : Sets out key milestones from inception through the first year of operations.
• Management: Information on the management team and their roles within the company.
• Financial Plan: Projects the company’s financial performance over the next five years, detailing revenue, profits, and anticipated expenses.

Manufacturing Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your manufacturing business plan, offering a concise overview of your manufacturing facility and its products. It should detail your market positioning, the range of products manufactured, the production process, its location, size, and an outline of day-to-day operations.

This section should also explore how your manufacturing business will integrate into the local and broader markets, including the number of direct competitors within the area, identifying who they are, along with your business’s unique selling points that differentiate it from these competitors.

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the business’s success. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your business’s financial plan.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Dive deeper into Executive Summary

Business Overview

Facilities & equipment.

Describe your manufacturing facility. Highlight its design, capacity, and technology. Mention the location, emphasizing accessibility to transport routes. Discuss advantages for efficiency and cost management. Detail essential equipment and its capabilities.

Operations & Supply Chain

Detail product range. Outline your operations strategy for efficiency and scalability. Discuss supply chain management. Highlight sourcing of materials, inventory control, and logistics. Emphasize strong partnerships with suppliers and distributors.

Make sure to cover here _ Facilities & Equipment _ Operations & Supplies

Market Overview

Industry size & growth.

Start by examining the size of the manufacturing industry relevant to your products and its growth potential. This analysis is crucial for understanding the market’s scope and identifying expansion opportunities.

Key Market Trends

Proceed to discuss recent market trends , such as the increasing demand for sustainable manufacturing processes, automation, and advanced materials. For example, highlight the demand for products that utilize eco-friendly materials or energy-efficient production techniques, alongside the rising popularity of smart manufacturing.

Key Competitors

Then, consider the competitive landscape, which includes a range of manufacturers from large-scale enterprises to niche firms. For example, emphasize what makes your business distinctive, whether it’s through advanced technology, superior product quality, or specialization in certain manufacturing niches. This section will help articulate the demand for your products, the competitive environment, and how your business is positioned to thrive within this dynamic market.

Make sure to cover here _ Industry size & growth _ Key competitors _ Key market trends

Dive deeper into Key competitors

First, conduct a SWOT analysis for your manufacturing business. Highlight Strengths such as advanced production technology and a skilled workforce. Address Weaknesses, including potential supply chain vulnerabilities or high production costs. Identify Opportunities like emerging markets for your products or potential for innovation in production processes. Consider Threats such as global competition or economic downturns that may impact demand for your products.

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain customers through targeted advertising, trade shows, digital marketing, and strategic partnerships. Emphasize the importance of showcasing product quality and technological advantages to differentiate your business in the market.

Finally, create a detailed timeline that outlines critical milestones for your manufacturing business’s launch, marketing initiatives, customer acquisition, and expansion goals. Ensure the business progresses with clear direction and purpose, setting specific dates for achieving key operational and sales targets.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the manufacturing business’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the manufacturing business toward its financial and operational goals.

For your manufacturing business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your manufacturing business’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your manufacturing business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

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How to create a marketing plan [free template].

What is a Marketing Plan?

What is a marketing plan template, use workamajig’s free marketing plan templates, how to write a marketing plan that works, build & execute your marketing plan with workamajig, browse more blogs.

As the famous Benjamin Franklin quote says, “If you fail to plan, you are planning to fail.” This rings especially true in highly competitive industries, and even more so with the rise of social media and the vast array of options for selling products and services.

It can be easy to get lost among all the options available, which means you need a framework for quickly and successfully launching and supporting your brand, product, or service in the market.

This is where a marketing plan comes in.

A marketing plan outlines a company’s overall marketing strategy, including the research and data that support it. Key information that comprise a marketing plan include:

• Company information : highlighting its relevance to the strategy in place
• Company, market, and competitor research: isolating and informing high-value marketing opportunities
• Concrete marketing plans: outlining goals, activities, and resources for enabling success

Marketing plans are typically laid out over a year but can change depending on the team’s objectives—the more frequently you need to create one, the more valuable it becomes to do it efficiently. This is where a marketing plan template comes in handy.

A marketing plan template is a tool used to build a comprehensive marketing strategy. It mainly eliminates the manual work of identifying and structuring the key information we outlined above. This allows you to focus on the actual task of building your marketing strategy, from setting goals and conducting research to identifying activities and resources essential to your campaigns. Our template is designed to cover these essentials while also leaving room for you to tailor content and sections to your specific needs.

Why Are These Important?

Alignment and efficiency are the overarching themes when creating a marketing plan and building an easy marketing plan template. For starters, a marketing plan helps establish a clear set of goals and objectives, which allows teams to optimize their efforts toward the same outcome. It also qualifies as an effective risk management tool when done right by clearly outlining stakeholders and their responsibilities for minimal overlap, as well as budget allocations and projections to ensure that planned activities are equipped to succeed.

When you create a marketing template, you achieve even more efficiency. This allows for more seamless creation of new marketing plans to fit new requirements and continuous learning from using and evaluating an established format.

The difference between a marketing plan and an effective one is subtle yet critical to your success. A basic marketing plan template should be:

•   Simple: by following a straightforward approach, using terms and a structure that’s easy to digest, both for the one creating it as well as those reading it,
• Interesting: with expertly designed layouts or formats that synergize well with the outline/structure and
• Versatile: allowing you to freely and easily add, remove, or rearrange sections and information to make sense of your strategy.

Below, we’ve created two free marketing plan templates that are designed around the above principles.

The Google Slides template is designed for more flexible layouts and more images.

The Google Docs template offers a more straightforward approach.

To begin using either template, click the matching link above and select File > Make a copy.

While you’re free to start populating the template however you like, there are ways to optimize this activity further. Below, we’ve reorganized the various sections in our template so you can populate them in an order that makes sense; these are grouped into five phases: Introduction, Research, two Strategy phases, and Polish. By following this section like a step-by-step guide, you would prioritize sections that inform other parts of the document so that you can complete each part almost in one go.

Introduction

First, fill in your Title Page before navigating to the Company Overview. This is like the ‘About Us’ section of a website and will help stakeholders learn about your business by filling in the following:

• Your Company Name
• Where your company is located (Headquarters)
• Your market category and a summary of the products or services you provide (Category, Products & Services)
• Your Mission Statement

It’s important to create a mission statement if you don’t have one yet—this gives both you and your audience a vivid impression of what your company is about and what it’s trying to achieve, which would be an important piece to understanding why your whole marketing plan can be expected to work. Your goal here is to write a mission statement that is clear and easy to understand.

An option to include information about your team or other specific individuals within the company is included. This would make sense if a specific group of individuals in your company is involved; the alternative implies that the plan may involve efforts from across the entire organization.

After wrapping up your introductory sections, it’s time to collect data to inform your marketing strategy. In this phase, we’ll be looking at your company, your customers, and your competitors and using that to identify your ideal client.

Start with the SWOT Analysis. This stands for Strengths, Weaknesses, Opportunities, and Threats. Here is a quick rundown and some guide questions for identifying each section:

• Strengths refer to internal advantages that your company might have over your competition. For example, do you have a strong brand reputation? Do you have a tried-and-tested pipeline and track record for launching successful marketing campaigns? Do you have a sizable budget? How about highly skilled employees?
• Weaknesses outline the opposite—these are factors that might put you at a disadvantage against competitors. These are often related to either a limited budget or a lack of skills or experience.
• Opportunities serve to highlight external factors that you might be able to use to your advantage. Consider this: are there relevant changes to market trends or consumer behavior? Have new market segments emerged? Are there new business models you can utilize in your strategy?
• Threats, on the other hand, are external factors that could negatively affect your business. Look into the following: Have new competitors emerged, or have existing competitors experienced substantial growth or change? Has the economy taken a turn for the worse? Are your customers’ preferences seemingly changing? Are there notable changes in technology or the environment to worry about?

Next, move to Customer Analysis. This is the process of evaluating and understanding different aspects of your consumer base, including their preferences and habits. This is fundamental to your overall strategy, as customer satisfaction almost always directly correlates to greater returns. A customer analysis is mainly broken down into demographics, which relate to their biological, educational, professional, and marital information, and psychographics, which relate to their behaviors, thought processes, and preferences. This also includes exploring various external factors that might influence their purchasing decisions, such as events and the offerings of competitors.

Once that’s finished, navigate to your Competitor Analysis section. This is the process of analyzing competitors who offer similar products or services or operate within the same industry or market as your company. This includes inspecting their overall strategy, including branding, operations, and promotion, identifying strengths and what resonates with their market or yours, and looking into areas where they might be lacking. This helps inform opportunities for your plan to stand out and succeed.

Finally, you can jump back to the Buyer Persona. A buyer persona is a detailed description of your target audience or customer built on the market research you conducted above; this includes existing data on your customers—this would include demographic information, motivations, and behavior, among other details. This helps businesses build a deeper understanding of their audience and is used to anchor marketing, sales, communication, and product development strategies to satisfy a given persona’s needs and preferences. Creating an effective buyer persona now will help build strategy for meaningful engagement.

Strategy-Building (Part 1)

Completing the previous sections should result in a clear picture of your position in the market. You can now use that to build the marketing plan's meat thoroughly. For starters, you will want to find the Goals section—our guide on SMART goals has everything we believe you will need to fill in this part of the plan.

Next, we will be tackling the Marketing Mix in two parts.

Product. In this section, discuss the products and/or services you intend to release or market as part of this strategy. This means outlining various features, design elements, or variants that will be available to customers.

Pricing. This is where you’ll be outlining amounts—how much will each of the products you included previously cost? When determining these, it’s critical that you consider your buyer persona, as well as competitor pricing and any promotions or discounts that might be part of your strategy. This will further increase your products’ perceived value among customers, especially your target market. Tables are a great formatting tool here; you can also link to an external spreadsheet, where you have more room to create a detailed pricing scheme.

Place. This section discusses how you would make products or services available to customers. It includes the method by which sales are generated (e.g., retail, online, direct), as well as strategies for storing, housing, and distributing inventory. Your main consideration here is making sure that your products and services are as convenient and efficient to access as possible in order to sufficiently meet customer demand.

The second part of the marketing mix covers both the Promotion and Marketing Channels sections. This is done so you can cross-reference between the two sections, ensuring that they are updated to synergize with one another.

The Promotion section primarily focuses on how you will help customers understand the value of your products and services, including tools and techniques for providing support across the customer journey (before, during, and after a sale.) A critical consideration here is ensuring the methods align with your goals while respecting your brand identity.

Marketing Channels then focus on the what or where of your promotion plan, which is typically broken down into traditional, digital, retail, and event marketing channels. Building this section relies heaviest on your buyer persona and the specific products and services you’re looking to promote—understanding where you can best reach your existing market or attract new eyes is important here.

Working on these sections first allows you to transition seamlessly to your Unique Value Proposition. Use this section to talk about how or why your products/services are a better choice than the competition. Your customer and competitor analysis would feed a lot of information here.

Strategy-Building (Part 2)

The second phase of your strategy will move between the template's Performance Management and Budget sections.

Under Performance Management , it’s time to identify your Key Metrics. Also known as key performance indicators (KPI) are quantifiable measures that determine your campaign or strategy’s progress or success. To assist with this, look back at your Goals section to see what factors can be represented by numbers and data—for some of these, you may need to derive them from computations of other factors. Common key metrics include total conversions, conversion rate, click-through rate, and social media engagements.

At this point, you can freely work on two sections simultaneously: Monitoring & Evaluation Methods and  Projected Expenses.

Monitoring & Evaluation Methods answers the question of how you will collect the metrics listed. Include relevant tools and data collection methods to be used here.

Projected Expenses refer to an itemized list of unique costs required to execute the strategy. This includes hardware and software needs, resources needed to run online or in-person events and promotions, travel and other logistics, and even compensation for in-house or outsourced manpower. A table is a great way to format information here.

Once all of that is ready, you can begin working on Projected Returns . In this section, you want to outline how this strategy is expected to generate value beyond just the immediate sale of whatever products or services are being offered and how much each of these sources is expected to contribute. From here, you can define your expected return on investment (ROI) by subtracting the total earnings from the costs in your Projected Expenses section.

You will notice that only one section remains—jump back to the early part of the template to work on your Executive Summary. This section combines all of the sections into a big-picture pitch. Your highest priorities here are summarizing your Goals, Marketing Mix, Unique Value Proposition, and Projected Returns sections.

Now that you’ve filled in all template sections double-check everything for errors or omissions.

A marketing plan serves as the blueprint for your success over time. A marketing plan template ensures that you can quickly and expertly craft a strategy while allowing for continuous improvement.

With Workamajig, the premier agency management software , you have an all-in-one solution for planning, organizing, and delegating these efforts and easily transitioning between the phases of every project. Easily adjust your schedule or modify task requirements and assignees to ensure efficiency, and use native reporting tools to measure your progress and identify and address roadblocks along the way.

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