how to write 3 year business plan

How Do You Structure a 3-Year Business Plan?

Why Should You Write a Business Plan?

What to include in a 3-year business plan, describe your business, define your goals, analyze your potential market, explain your marketing plan, estimate costs and revenues, example of a 3-year business plan.

The Takeaway

Frequently asked questions, about the author.

Lauren Ward

3 Year Strategic Plan Example PDF: A 3 Year Plan for Business Growth in 2024 and Beyond

By Jessica Wishart

Strategies for Growth

Working on your 3-5 Year Strategic Plan (PDF) is a best practice during your 2-day annual planning session, but what should the outcome of that time look like? What do you need to accomplish in that time? How does it connect to your mission statement?

3-Year Business Plan Foundation:

• 1-3 Targets
• 2-3 Strategic Winning Moves for Revenue.
• 1-2 Strategic Winning Moves for Profit

3 Year Strategic Plan Examples PDF

Obviously, no cookie-cutter plan or template works for every company, but if you are struggling with a place to start or curious about what a plan might look like, here are some examples of each component of your 3 Year Plan. (For these examples, I will focus on the 3-year time horizon. Based on industry standards and your own growth goals, determine whether you want a 3 Year Plan—or 4 or even 5—to double the revenue for your company. Choose a specific time horizon, focus on that period, and choose the appropriate goals for the required team members.  The shorter the time frame, the more detailed the action plan and clarity around SMART goals with Rhythm Systems SMART AI Goal Coach has 20 years of experience behind it.  ( How to Write a Goal ).

Most companies track revenue as a Target in your 3 year strategic plan. Consider if there are other important strategic metrics for your business, and add those to your list. Think about your goal to achieve in 3 years, what the goal is for this year, and what the goal is next year to help you get there. You can't manage what you can't measure.  

• 2024 Goal: $50 m
• 2025 Goal: $70 m
• 2026 Goal: $100 m
• # of Customers
• 2024 Goal: 200
• 2025 Goal: 300
• 2026 Goal: 450
• Gross Margin
• 2024 Goal: 30%
• 2025 Goal: 35%
• 2026 Goal: 40%

Other examples of Targets could be Net Profit, EBITDA, # of Locations, Revenue by Product Line, Revenue/Employee, Net Income, etc. Do individual business units require their own targets and goals? Now is the time to discuss them.

3-Year Strategic Plan Video

You can download our free strategic planning example template by clicking below.

Strategic Winning Moves for Revenue

Most companies grow in a few ways: acquisitions, organic growth, or expanding into new products, services, or markets. Depending on your business, industry, and specific opportunities and challenges, you should think through and determine the right mix of Winning Moves to help you achieve the Targets you set for your 3-Year Plan in your planning session . Your Winning Moves should help you double your revenue in the next 3-5 years. Make sure that the objective is as clear as you can make.  By definition, you won't know all the answers, but the better the team understands the mission - even if the details aren't clear - the more they are connected to the why, the more they can help in strategy development.

Examples of Winning Moves for revenue growth could include strategies like the following:

• Successfully integrated 3 key acquisitions
• Launch our core product to customers in Asia
• Monetize internal database technology solutions (package and sell to companies)
• Increase wallet share by 8%.
• Create additional products and services for our core customers.
• Increase recurring revenue and service contracts by 12%.

Other examples could be things like developing a new product, shifting your business to a subscription model, selling your product or service to a new industry, etc. The best ideas for how to grow your business will come from you and your team. If you have trouble brainstorming and choosing ideas, we have a proven process to help.

Strategic Winning Moves for Profit.

These strategies are all about maintaining profitability as you grow. If your company doubles in revenue over the next 3 years, what do you need to have in place from an infrastructure perspective as you scale (or from a leadership and talent growth perspective)?

Examples of Winning Moves for Profit:

• Expand IT infrastructure to support growth
• Generate a consistent engine to hire, develop, and retain A-Players in management roles
• Increase revenue per employee by 25%
• Reduces employee churn 18%
• Implement Artificial Intelligence to boost productivity 15%

How to Build Your 3-Year Plan:

Once you’ve identified the right mix of Winning Moves (no more than 3-5 total), you should do the following with each:

• Assign an Owner on your team—one person to be accountable for moving the idea forward.
• Set Red-Yellow-Green success criteria for each to create alignment on what success and failure would be on each goal.
• Set Revenue Projections on each Winning Move for the next 3 years. Compare this to the revenue Target you set in your 3-year plan, providing a number one long-term goal. If your revenue projections on your Winning Moves don’t add up to your revenue Targets, you have more work to do.
• Identify and test assumptions for each Winning Move. What has to pan out for your financial model to work? Consider your assumptions, and validate those before you spend time, money, and energy on your strategies.
• Build an execution plan . Your annual and quarterly execution plans should link back to your Winning Moves and advance your strategy with the planning process.
• Discuss opportunities and threats - both short-term and long-term.

Establishing your 3-year strategic plan will help you get closer to achieving your long-term visionary BHAG and give your annual plans a strategic anchor. If you aren’t sure how to get started, let one of our expert facilitators guide you.

We hope you enjoy our strategic plan template; please feel free to  drop us a line if we can help.

Check out these other blogs on three-year strategic plans..

The CEO Strategy-Execution Gap...And How To Fix It

Choose Your 3 Year Strategic Growth Initiatives Wisely With This 4-Step Process

5 Steps to Getting Started on 3 Year Strategic Plans with Winning Moves

Have you been able to validate your 3-Year Strategic Plan?

Robust 3-Year Strategic Plans to Grow Revenue and Stay Competitive

16 Strategic Planning Tips to Keep Your Strategic Plan Alive

Don't Confuse Strategic Thinking And Strategy Execution Plans

9 Steps to a New Revenue Growth Strategy [Infographic]

Photo Credit:   iStock  by Getty Images

Jessica Wishart

Photo Credit: iStock by Getty Images

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Annual & Quarterly Planning

Annual Strategic Planning: Reflecting and Planning for a Great Year

Crafting Your 3-Year Success Roadmap: A Guide for Business Owners

Crafting a three-year plan is an invaluable process that provides direction. The planning process fosters a proactive business culture, and the execution plan prepares your venture for the challenges and opportunities ahead while keeping you motivated. In the fast-paced business world, strategic planning isn’t just a task—it’s a necessity.

Today, we’re breaking down the steps to build a successful three-year plan, ensuring business owners are equipped to survive and thrive in their respective markets.

Understanding the 3-Year Plan

A 3-year plan is an indispensable strategic document that meticulously outlines a company’s aspirations, strategic approaches, key performance indicators, and specific actions planned for the forthcoming three-year timeframe.

This document is a comprehensive roadmap, expertly guiding businesses through their various growth phases.

It plays a crucial leadership role in helping companies proactively anticipate potential challenges while identifying and seizing opportunities for innovation, revenue growth, and expansion in their respective markets.

The importance of this three-year strategic plan transcends the mere setting of objectives; it involves crafting a detailed and actionable strategy that considers the latest market trends, the competitive landscapes across different industries, and the business’s internal capabilities and resources.

This ensures that every facet of company life is synergistically aligned with the achievement objective of long-term success.

Furthermore, this strategic plan facilitates a more unified and cohesive effort from the leadership of all teams and departments within the company, as it makes sense and makes it easier for them to work towards common goals with a clear understanding of their roles and expectations.

It also allows for better resource allocation, for example, ensuring that investments in infrastructure are made strategically to support the most impactful areas of the business.

In essence, a well-crafted 3-year plan is not just a document but a vital tool that empowers businesses to navigate the complexities of their industries, adapt to changes efficiently, and create and maintain a competitive edge, all while fostering an environment of continuous improvement and innovation.

Crafting Your 3-Year Strategic Plan: Key Steps/ Planning Process

Step 1: define your vision and goals.

The first and most critical step in crafting your 3-year plan is clearly defining your vision and short-term and long-term goals. What will your life and business look like in three years?

Consider factors such as market position, revenue targets , product offerings, geographical presence, and the overall impact you wish to have in your industry.

This vision will serve as the foundation of your plan, guiding all future strategic decisions and initiatives.

In defining your goals, ensure they are Specific, Measurable, Achievable, Relevant, and Time-bound (SMART).

This precision clarifies what success looks like in practice and helps map out the detailed steps needed to achieve it. Remember, your goals should stretch your capabilities but remain within the realm of feasibility.

Step 2: Conduct a SWOT Analysis

Before you can chart your course, you need to understand your current situation. Conducting a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis is essential for gaining this insight.

By examining your internal strengths and weaknesses and juxtaposing them with external opportunities and threats, you can identify key focus areas and support for your strategic plan.

• Strengths : List the areas where your business excels, including a strong brand reputation and unique product features.
• Weaknesses : Assess areas where your business may be lacking, whether in operational efficiency, product range, or customer service.
• Opportunities : Identify external factors, such as market trends or technological advancements, that could be leveraged to your advantage.
• Threats : Understand potential challenges in your industry, including competition, regulatory changes, and market shifts.

Step 3: Develop Strategic Objectives

Once you clearly understand your business’s current position, revenue, yearly goals, and aspirations, the next step is to develop strategic objectives.

These objectives should bridge the gap between where you are now and where you want to be in three years.

Objectives should cover various aspects of your business and personal growth, such as growth, efficiencies, innovation, and market positioning.

It’s crucial to ensure that these objectives align with your vision and goals and are actionable and measurable.

This alignment guarantees that every effort and resource invested moves the team and company closer to its ultimate targets.

Objectives should not just focus on financial metrics but also consider customer satisfaction, employee engagement, and social responsibility.

Step 4: Outline Strategies and Action Plans

For each strategic objective, outline the specific strategies and action plans that will be implemented to achieve them. This step converts your objective smart goals from abstract ideas into concrete actions.

Strategies should cover a broad approach, such as expanding to new markets. At the same time, action plans include the detailed initiatives required, such as conducting market research, identifying potential partners, and establishing local operations.

• Market Expansion Strategy : Define the regions or sectors for expansion and the rationale behind this choice.
• Product Development Strategy : Outline plans for new products or improvements to existing ones, including timelines and responsible teams.
• Operations Efficiency Plan : Detail initiatives to improve productivity and reduce costs, such as implementing new technology or streamlining processes.

Step 5: Monitor, Review, and Adapt

The final step in crafting your 3-year plan is to establish a system for monitoring progress, reviewing achievements and setbacks, and adapting the three year strategic plans as necessary.

This dynamic approach acknowledges that business and industry environments are constantly changing and that flexibility is key to staying on course for the future.

Set up regular review intervals—at least every week or quarterly —to assess progress against your objectives and action plans.

Use these reviews to celebrate successes, address challenges, and recalibrate your strategies if needed.

Adaptability ensures that your 3-year or year strategic plan and vision remains relevant and practical, guiding your business towards its long-term vision and goals.

Examples of Crafting Strategic Planning with a 3-Year Business Plan

Example 1: technology startup 3-year plan.

Year 1 – Foundation and Market Entry

• Focus on product development and achieving a minimal viable product (MVP) to address market needs.
• Key Objectives :
• Complete product development and initiate beta testing with selected users.
• Establish brand identity and online presence.
• Secure initial funding from angel investors or venture capital firms.

Year 2 – Growth and Expansion

• Shift towards aggressive user acquisition, refining the product based on feedback, and exploring additional revenue streams.
• Achieve specific user growth targets and expand market reach.
• Develop and launch two new product features based on user feedback.
• Begin profitability analysis and cost optimization.

Year 3 – Consolidation and Scale

• Focus on scaling the business, possibly through strategic partnerships or entry into new geographical markets.
• Establish partnerships with complementary businesses to expand market reach.
• Launch the product in at least two new geographical markets.
• Achieve profitability and establish a solid customer base for sustainable growth.

Example 2: Retail Business 3-Year Plan

Year 1 – Strengthening Core Operations

• Focus on improving operational efficiency and building a strong foundation for future growth.
• Implement a new inventory management system to reduce costs and improve product availability.
• Enhance customer experience through personalized marketing campaigns and loyalty programs.
• Increase brand awareness through targeted advertising and social media presence.

Year 2 – Expanding Product Range

• Introduce new products or services to cater to changing market demands and increase revenue streams.
• Conduct market research to identify potential new products or services.
• Expand product range by launching at least two new items.
• Integrate e-commerce capabilities to reach a wider customer base.

Year 3 – Geographic Expansion

• Explore opportunities for geographic expansion and establish a presence in new markets.
• Analyze target markets and select the most viable location(s) for expansion.
• Secure necessary permits and establish partnerships with local suppliers or distributors.
• Launch store(s) in new geographical markets.

Three Key Tips for Successfully Implementing Your 3-Year Plan

Successfully implementing a three-year business plan requires more than setting goals and developing strategies. Here are three essential tips to ensure that your three-year plan is not only achievable but also sets your business on a path of sustainable growth and innovation.

Stay Flexible and Responsive :

The business landscape is constantly evolving, driven by technological advances, market dynamics, and consumer behavior shifts. While it’s important to have a structured plan, remaining adaptable allows you to pivot when necessary and seize emerging opportunities.

Review your plan’s assumptions against real-world outcomes regularly, and be prepared to make adjustments to stay aligned with your long-term vision.

Foster a Culture of Accountability :

The success of your plan hinges on the collective effort of your team. Establish clear roles, responsibilities, and expectations to ensure everyone is aligned with the plan’s objectives.

Use performance metrics and milestones to monitor progress and create a system of accountability where successes are celebrated, and setbacks are addressed constructively.

Leverage Data and Analytics :

Informed decision-making is crucial for achieving strategic objectives. Incorporate data analysis tools to gather insights on your performance, customer feedback, and market trends.

This data-driven approach will help refine your strategies, improve operational efficiencies, and offer a competitive edge by enabling you to anticipate and react more effectively to market changes.

In conclusion, crafting a successful 3-year business growth plan requires a systematic and adaptable approach that begins with understanding the internal and external factors affecting the business through a SWOT analysis.

Setting strategic objectives that are aligned with the company’s vision, actionable, and measurable is crucial. Strategies and action plans for market expansion, product development, and operational efficiencies are vital to achieving these objectives.

Regular monitoring and adaptation of the plan based on progress ensure it remains effective. Illustrative examples from technology startups and retail businesses demonstrate the practical application of this framework , highlighting the importance of foundation-building, growth, and expansion strategies tailored to each business’s unique context.

This comprehensive methodology is essential for navigating the complexities of strategic planning and execution, ensuring businesses are poised for success over short-term actions and a three-year to short-term horizon.

To learn more about building a three-year plan and other strategic plans, contact Strategy Capstone today!

Small Business Trends

How to create a business plan: examples & free template.

This guide has been designed to help you create a winning plan that stands out in the ever-evolving marketplace. U sing real-world examples and a free downloadable template, it will walk you through each step of the process.

Table of Contents

How to Write a Business Plan

Executive summary.

The Executive Summary serves as the gateway to your business plan, offering a snapshot of your venture’s core aspects. This section should captivate and inform, succinctly summarizing the essence of your plan.

Example: EcoTech is a technology company specializing in eco-friendly and sustainable products designed to reduce energy consumption and minimize waste. Our mission is to create innovative solutions that contribute to a cleaner, greener environment.

Overview and Business Objectives

This part of the plan demonstrates to investors and stakeholders your vision for growth and the practical steps you’ll take to get there.

Company Description

Include information about the company’s founders, their expertise, and why they are suited to lead the business to success. This section should paint a vivid picture of your business, its values, and its place in the industry.

Define Your Target Market

Example: Our target market comprises environmentally conscious consumers and businesses looking for innovative solutions to reduce their carbon footprint. Our ideal customers are those who prioritize sustainability and are willing to invest in eco-friendly products.

Market Analysis

Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.

SWOT Analysis

Competitive analysis.

In this section, you’ll analyze your competitors in-depth, examining their products, services, market positioning, and pricing strategies. Understanding your competition allows you to identify gaps in the market and tailor your offerings to outperform them.

Organization and Management Team

Example: EcoTech’s organizational structure comprises the following key roles: CEO, CTO, CFO, Sales Director, Marketing Director, and R&D Manager. Our management team has extensive experience in technology, sustainability, and business development, ensuring that we are well-equipped to execute our business plan successfully.

Products and Services Offered

Marketing and sales strategy.

Describe the nature of your advertising campaigns and promotional activities, explaining how they will capture the attention of your target audience and convey the value of your products or services. Outline your sales strategy, including your sales process, team structure, and sales targets.

Logistics and Operations Plan

Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.

Financial Projections Plan

In the Financial Projections Plan, lay out a clear and realistic financial future for your business. This should include detailed projections for revenue, costs, and profitability over the next three to five years.

Income Statement

The income statement , also known as the profit and loss statement, provides a summary of your company’s revenues and expenses over a specified period. It helps you track your business’s financial performance and identify trends, ensuring you stay on track to achieve your financial goals.

Cash Flow Statement

Tips on Writing a Business Plan

3. Set realistic goals: Your business plan should outline achievable objectives that are specific, measurable, attainable, relevant, and time-bound (SMART). Setting realistic goals demonstrates your understanding of the market and increases the likelihood of success.

FREE Business Plan Template

To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.

What is a Business Plan?

Why you should write a business plan, what are the different types of business plans.

In today’s fast-paced business world, having a well-structured roadmap is more important than ever. A traditional business plan provides a comprehensive overview of your company’s goals and strategies, helping you make informed decisions and achieve long-term success. There are various types of business plans, each designed to suit different needs and purposes. Let’s explore the main types:

Using Business Plan Software

Enloop is a robust business plan software that automatically generates a tailored plan based on your inputs. It provides industry-specific templates, financial forecasting, and a unique performance score that updates as you make changes to your plan. Enloop also offers a free version, making it accessible for businesses on a budget.

Business Plan FAQs

What is a good business plan, what are the 3 main purposes of a business plan, can i write a business plan by myself.

We also have examples for specific industries, including a using food truck business plan , salon business plan , farm business plan , daycare business plan , and restaurant business plan .

Is it possible to create a one-page business plan?

How long should a business plan be, what is a business plan outline, what are the 5 most common business plan mistakes, what questions should be asked in a business plan.

A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?

What’s the difference between a business plan and a strategic plan?

How is business planning for a nonprofit different.

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

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?

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466 Restaurant Name Ideas You’ll Love (2024)

So you’ve decided to open a restaurant but don’t know what to name it? That’s okay. We have plenty of restaurant name ideas you’ll love.

[su_note note_color="#dbeafc"]We’ve grouped our picks for best restaurant names into 17 unique categories to help you choose a restaurant name that works for you. In addition, we’ll discuss how to name a restaurant—and restaurant names to avoid. Check out all of our ideas or click any of the links below to jump straight to the section you need now.

What should I name my restaurant?

32 fancy restaurant names, 20 cute restaurant names, 30 fast food restaurant names, 30 american restaurant names, 30 mexican restaurant name ideas, 30 italian restaurant name ideas, 30 french restaurant names, 22 diner names, 22 fancy café names, 20 buffet restaurant names, 30 bistro names, 30 ‘punny’ restaurant names, 30 beach restaurant names, 30 brunch restaurant names, 30 modern restaurant names, 30 fantasy restaurant names, 20 breakfast restaurant names.

• Did you find cool restaurant names? [/su_note]

Choosing a great restaurant name can be a challenge. We’ve got you covered with some tips to help you find the perfect name for your business.

• Consider a name that reflects the type of cuisine you offer or the overall theme of your restaurant. This gives potential customers a quick idea of what to expect.
• Unique restaurant names help you stand out. If you use a generic name, you might get lost in the crowd.
• Restaurant name ideas should be easy to remember.
• A culinary venture might want to include a reference to its location.
• You’ll want to check if your restaurant name ideas list has trademark availability, then check domain names and social media platforms to see if the good restaurant names are taken.

Remember, the name of your restaurant is a key part of your brand, so take the time to brainstorm and choose a name that resonates with your vision and target audience.

If you want to attract bougie guests to your restaurant, choose a fine dining restaurant name that will impress. First, impress them with your name…then stun them with your impeccable service and first-class cuisine. Here are some fine dining name ideas that will help you make it happen:

1. Aurelian Elegance 2. Orchid Row 3. Éclat Manor 4. Imperium 5. Luxe Lumière 6. Crown on the Plaza 7. Prestige Cellars 8. Riviera Regale 9. Sérénité Soirée 10. Enclave 11. Étoile 12. Maison Tres 13. Café Grandeur 14. Rendezvous 15. Château Chantilly 16. The Emporium

17. Refined Revelry 18. Epicure 19. Illustrious Ivy 20. The New Gourmand 21. Ember 22. Resplendent Ridge 23. Epitome Elegance 24. Luminance 25. Nouveau Table 26. Vista Vérité 27. Apogee Amour 28. In Aura 29. Palatial Palate 30. Panache 31. The Gilded Gastronome 32. Epicurean Elegance

Pro Tip: When it comes to naming a fine dining restaurant, you can go one of two ways: trendy or classic. Select which one you think will draw in your target customer and also be a name you can live with for the life of your restaurant.

Attracting families and kids to your restaurant is easy when its name is adorable. A good restaurant name attracts potential customers to your establishment—just make sure your restaurant’s mission matches the name or else it will be ineffective.

1. Whisker's Whimsy Wagon 2. Sweet Pea Patisserie 3. Sprout ’n’ Sprinkle Spot 4. Bubblegum Bunny Bistro 5. Fairy Floss Café 6. Teddy's Tea Party Tavern 7. Sugar Sprinkle Shack 8. Cotton Candy Cottage 9. Snuggle Bug Bistro 10. Raindrop Ranch Café

11. Kitten's Kitchenette 12. Sunshine & Sprinkles Café 13. Sweetheart Seashore Shack 14. Cupid's Café Corner 15. Sugar Plum Fairy Feasts 16. Little Lamb Luncheon 17. Panda Palate Palace 18. Bunny Hop Bistro 19. Cleopatra's Culinary Haven 20. Galaxy Grub

Pro Tip: You don’t just have to make your name creative, but make it a creative restaurant. The interior should be fun and inviting. Hang local art on the walls and create an atmosphere families will continually come back to.

As a business owner, you want your fast food restaurant name to make a lasting impression. We have a great ideas list for you to choose from so you can guarantee you have repeat business time and again.

1. ZapBite Burger Co. 2. Rapid Munch Drive-Thru 3. Swift Savor Express 4. Dash Burger Bistro 5. ZipTaste Tavern 6. SpeedySizzle Grill 7. Snap Chow Hut 8. On the Rise Burgers 9. BlazeBite Fast Fare 10. Zest Meal Spot 11. TurboTaste Drive-Thru 12. Rapid Fuel Bistro 13. Quick Crave Corner 14. Rush Bite Express 15. Dash Munch Depot

16. Speedy Chow Hut 17. Express Burger Joint 18. Swifty Feast Drive-Thru 19. Fast Flash Fare 20. Blaze Bite Express 21. Zoom Burger Stop 22. Snap Chow Shack 23. RushBite Grill 24. Quick Fuel Fast Food 25. RapidRise Diner 26. ZippyMunch Depot 27. Swift Serve Fast Fare 28. Wizard of Oz Grill 29. Apollo's Pizzeria 30. Einstein's Edible Emporium

Pro Tip: What are your unique selling points that would make someone come to your place over other restaurants in the area like McDonald’s? Use your social media channels to get the word out there. The first impression someone has will stay with them forever. Build your brand identity from the very beginning.

American restaurants focus on cooking and serving food like burgers, chicken, and a variety of other options diners associate with Americana. Here are some names that will help your restaurant stand out from the pack:

1. Jazz Junction Diner 2. Great Lakes Galore 3. Southern Spice Station 4. Capital City Eats 5. Big Sky Bistro 6. Redwood Roots Restaurant 7. Everglades Epicure 8. Route 66 Diner 9. Aloha Avenue Café 10. Desert Bloom Bistro 11. Gulf Shores Grille 12. Cascade Café 13. Rocky Roadhouse 14. Magnolia Manor Eats 15. Wild West Whiskers

16. Blue Ridge Bistro 17. Crescent City Cuisine 18. Northern Lights Nosh 19. Grand Canyon Grillhouse 20. Napa Valley Nibbles 21. The Rockies Retreat 22. Sunshine State Supper Club 23. Ozark Oasis Bistro 24. Mount Rushmore Munchies 25. Hudson Valley Hideaway 26. Alamo Alley Café 27. Tundra Trails Tavern 28. Niagara Nosh House 29. Appalachian Attic Eats 30. Bayou Bonfire Bistro

The easy way to name your Mexican restaurant is to simply put whatever name you choose in Spanish. But make sure it actually says what you want it to say so your name lets customers know what to expect when they dine there.

1. Sabor del Sol 2. El Sabroso Cantina 3. Casa de Sazón 4. Delicias de México 5. El Corazón de México 6. La Cocina del Sol 7. Tacos y Tequila 8. Sabores de México 9. El Rincón Picante 10. La Fiesta Mexicana 11. Taquería Tradicional 12. El Ranchito Sabroso 13. Los Sabores Auténticos 14. Comida Mexicana Real 15. Cantina del Sol

16. La Hacienda del Sabor 17. El Sazón Auténtico 18. Las Delicias Mexicanas 19. El Patio Mexicano 20. Sabores y Aromas de México 21. La Cabaña Mexicana 22. El Sabor de Mi Tierra 23. La Cocina Mexicana 24. Auténticos Tamales y Tacos 25. Sazón de la Abuela 26. El Fogón Mexicano 27. Tacos al Pastor y Más 28. La Esquina Mexicana 29. Delicias Caseras de México 30. El Paladar Mexicano

Expert Advice: Your name should evoke a feeling for the potential guest. What do you want your customer to think of when they hear your name? Is it an experience, a food, great service? Make your name something unforgettable.

When selecting an Italian restaurant name, be sure to include words that remind people of Italy and the amazing food they’ve had (or imagined having!) overseas. You can make it fancy or fun. These Italian restaurant names are good for everything from a nice Italian restaurant to pizza and hoagie shops.

1. Bella Cucina 2. Trattoria Romantica 3. La Dolce Vita Ristorante 4. Cucina del Sole 5. Gustoso Italiano 6. Sapori d'Italia 7. Piazza Italia 8. La Cantina della Nonna 9. Al Dente Trattoria 10. Ristorante Buon Gusto 11. La Famiglia Cucina 12. Bella Napoli 13. La Cucina Felice 14. Gusti del Sud 15. La Tavola Trattoria

16. Buona Cucina Italiana 17. Mangia Bene Ristorante 18. Le Delizie Italiane 19. Trattoria del Cuore 20. Osteria del Sole 21. Cucina Amore 22. La Cucina del Gourmet 23. La Pizzeria Rustica 24. Vivace Cucina 25. L'Angolo della Pasta 26. Il Gusto Autentico 27. Delizie D'Italia 28. Il Sapore Italiano 29. La Locanda del Cuoco 30. Trattoria Bella Luna

Pro Tip: Some Italian names can be hard for the average American to pronounce. While it may look nice, make sure the average Joe can pronounce your name or else it will be butchered time and again and your target customer may have a hard time finding you.

Your French restaurant name should include keywords that will show potential customers what your restaurant is all about. Use culinary imagery to inspire them to dine there time and again. Of course you’ll want to make sure you love it as well!

1. Maison de Savoureux 2. L'Éclat Culinaire 3. Le Bistrot de la Coquette 4. L'Étoile Épicurienne 5. Bon Appétit Bistro 6. La Cuisine Charmante 7. Chez L'Artisan 8. Le Délice de Paris 9. Rendezvous Rive Gauch 10. Le Festin Français 11. À Table! 12. L'Auberge du Gourmet 13. Le Petit Plaisir 14. Delice de la Côte 15. La Vie en Rose Brasserie

16. Brasserie Bonheur 17. Le Repaire de Saveurs 18. La Cigogne Gourmande 19. La Provence Gourmande 20. Étoile du Matin 21. Les Délices de la Rivière 22. Belle Assiette 23. Bistro du Soleil 24. Salon Culinaire 25. La Table des Artistes 26. Le Café des Amis 27. Le Bon Vivant 28. Cuisine en Rose 29. L'Escapade Gourmande 30. Trattoria du Midi

Pro Tip: French restaurant name ideas are easy to come up with when you look at how beautiful the language is, both spoken and written. Play with combinations, and you shouldn’t have any trouble coming up with the perfect restaurant name as long as it resonates with your menu and dining experience.

Get those creative juices flowing as you decide on a perfect diner name for your new restaurant. This isn’t just a place to serve food. You’ll be creating delicious dishes and a divine dining experience that will wow your guests, so be sure you have a restaurant name to match.

1. Retro Rocket Diner 2. Tasty Tracks Diner 3. Cosmic Café 4. Flamingo Flavors Diner 5. Blue Moon Bites 6. Starlight Bites 7. Killer Pizza & Sammies Diner 8. Route 66 Eats 9. Atomic Appetites Diner 10. Neon Nights Diner 11. Thunderbird Treatbox

12. Jukebox Jive Diner 13. Bonanza Bites 14. Sock Hop Stop Diner 15. Diner-o-Saurus 16. Rock ’n’ Roll Grub Hub 17. Galaxy Grill 18. Cosmic Cravings Diner 19. Diner Delight Junction 20. Mellow Yellow Diner 21. Retro Rendezvous 22. The Food Truck Diner

Pro Tip: Pick a theme for your diner. Themes are a great way to attract customers and build a strong brand identity. You can even make promotional materials for your new business that feature your theme and make people want to come for a meal!

But here are a few fancy restaurant names for your café that are sure to inspire your culinary venture.

1. Serene Sips Café 2. Château du Café 3. Elysian Espresso 4. Enchanted Eats Emporium 5. La Vie en Rose Café 6. Royal Brew House 7. Gourmet Garden Café 8. Éclatant Elegance 9. Belle Bistro 10. Palais de Pâtisserie 11. Tranquil Tea Terrace

12. Paragon Perks Café 13. Posh Palette Café 14. Elite Elixir Emporium 15. Luxe Lounge Lattes 16. Opulent Oasis Café 17. Café Magnifique 18. Divine Delights Diner 19. Paradiso Patisserie 20. Grandeur Grinds 21. Gourmet Symphony Pastry & Beans 22. Café Gilberto

Pro Tip: Creative restaurant name ideas leave a lasting impression on your branding efforts. Check the availability of the perfect name using online tools.

Consider some of these suggested names for all-you-can-eat restaurant businesses.

1. Worldly Flavors Buffet 2. Culinary Odyssey Buffet 3. Fusion Feast Buffet 4. Melting Pot Buffet 5. Global Gastronomy Buffet 6. Panorama Plate Buffet 7. Eclectic Eats Buffet 8. International Indulgence Buffet 9. Diverse Dining Buffet 10. Ethnic Enclave Buffet

11. Flavor Fusion Buffet 12. Gastronomic Galore Buffet 13. Epicurean Expedition Buffet 14. Heritage Heights Buffet 15. Taste Trek Buffet 16. Crossroads Cuisine Buffet 17. Mosaic Buffet 18. Pan-Continental Buffet 19. Culinary Kaleidoscope Buffet 20. All You Can Eat Oasis Buffet

Consider some of these creative restaurant names for a bistro.

1. Sage & Saffron Bistro 2. Azure Vine Bistro 3. Velvet Petal Bistro 4. Hearthstone Haven Bistro 5. Moonlit Terrace Bistro 6. Willow Whisper Bistro 7. Ember & Elm Bistro 8. Sunflower Serenade Bistro 9. Cobblestone Corner Bistro 10. The Tango Bistro 11. Juniper Junction Bistro 12. Quill & Quinoa Bistro 13. Zephyr Zenith Bistro 14. Rustic Aura Bistro 15. Echoes & Eats Bistro

16. Cobalt Cascade Bistro 17. Alchemy Alley Bistro 18. Luna Lounge Bistro 19. Cedar Crest Bistro 20. Elysian Eats Bistro 21. Tarragon Terrace Bistro 22. Opal Orchid Bistro 23. Citrine Cove Bistro 24. Bistro 360° 25. Marigold Manor Bistro 26. Whispering Woods Bistro 27. Three Serenades Bistro 28. Coral Cascade Bistro 29. Amethyst Arbor Bistro 30. Fireside Flavors Bistro

What are some restaurant names that will make you laugh? We have a few answers below. Restaurant owners who aren’t afraid to include a good pun can benefit from a cute restaurant name that diners won’t soon forget. Here are some restaurant business name ideas that leverage just the right amount of humor and hint at the delicious cuisine you’ll serve.

1. Wok Around the Clock 2. Soy Joy Eatery 3. Stir Crazy Noodle Bar 4. Pho-nomenal Eats 5. Kimchi Krazy 6. Dim Sum Delight 7. Miso Happy Eatery 8. Thai Me Up 9. Wonton Wonder 10. Rice Rice Baby 11. Kung Food Palace 12. Zen Zest Fusion 13. Curry in a Hurry 14. Sushi-licious Spot 15. Tempura Temptations

16. Chop Chop Chopsticks 17. Bao Down Bistro 18. Spice Route Café 19. Noodlegate Kitchen 20. Dumpling Dynasty 21. Ramen Rave 22. Pho Real Bistro 23. Szechuan Sensation 24. Dragon Delish Diner 25. Rollin' Rollin' Sushi 26. Wasabi Wow Café 27. Sesame Street Eats 28. Hoisin Haven 29. Kimchili Kitchen 30. Thai Tanic Treats

A restaurant business on the beach might consider some of these new ideas for a beachy business name:

1. Sandy Toes Café 2. Seaside Bites Shack 3. Wavefront Eats 4. Shoreline Sip Spot 5. Flip Flop Fusion 6. Driftwood Diner 7. Beachcomber's Bistro 8. Saltwater Serenade Café 9. Sunkissed Eateries 10. Seashell Shoreline Snacks 11. Tidepool Treats Tavern 12. Coral Cove Cuisine 13. Seafoam Feasts 14. Boardwalk Bites 15. Coastal Cravings Café

16. Pier Pleasures Restaurant 17. Castaway Cove Café 18. Tiki Tide Tavern 19. Bay Breezes Bistro 20. Lighthouse Lunches 21. Nautical Nosh Nook 22. The Mermaid's Menu 23. Palm Tree Pantry 24. Seagull's Perch Café 25. Shell Seeker's Snack Shack 26. Beach Blanket Bistro 27. Sailors' Supper Spot 28. Sandcastle Café 29. Surfer's Slice Shack 30. Beach Bonfire Bites

Brunch restaurant names are great for attracting those people who can’t decide if they want to get breakfast or lunch.

1. Rise & Dine Café 2. Morning Bliss Bistro 3. Brunchville Bites 4. Sunny Side Up Café 5. Brunch & Munch 6. Daybreak Delights 7. Sunlit Brunchery 8. Early Bird Eats 9. Brunch O'Clock 10. Brunch Barn 11.Midday Munchies Café 12. The Bungalow 13. Sunrise Savory Spot 14. The Brunch Basket 15. Breakfast Boulevard

16. Brunch Bonanza 17. Astrud’s Brunchery 18. Sunbeam Brunch Café 19. Morning Glory Eateries 20. Brunchtime Bliss 21. The Morning Table 22. Brunch Affair Café 23. Bistro Brunchscape 24. Rise & Brunch Café 25. Morning Medley Diner 26. Brunch Oasis 27. Brunch Junction 28. The Brunch Clubhouse 29. Sunlit Spread Café 30. Morning Breeze Bistro

Modern restaurants are defined by their sleek decor and menus that wow diners with innovative options. They increasingly focus on local food and sustainability, too.

1. Urban Palette Eats 2. Metropolis Munchery 3. Modernity Bites 4. Chic & Eats 5. Vibe Valley Eatery 6. Fusion Flux Café 7. Nova Bistro Lounge 8. Trendy Tabletop 9. Echo Eats 10. Zenith Zone Café 11. Savor Sphere 12. Retro Remix Diner 13. Avant Grub 14. Urban Utopia Eats 15. Fusion Foundry

16. Pixel Plate Bistro 17. Pulse Point Eatery 18. Artisan Alley Café 19. The Mod Mix Diner 20. Metro Manifesto 21. Flavor Fusion X 22. Chic & Savory Eats 23. Urban Elegance Eateries 24. Modish 25. The Trend Tavern 26. Urbanite Eatscape 27. Fluxus Bistro 28. ModMotion Café 29. Metro Mingle Bistro 30. Tres Forma Eatery

1. Enchanted Eats Emporium 2. Mystic Morsels Tavern 3. Dragon's Delight Diner 4. Fairyland Feasts 5. Unicorn Utopia Café 6. Sorcerer's Supper Spot 7. Celestial Cuisine Castle 8. Elf & Elemental Eatery 9. Enigma Eats Emporium 10. Phoenix Flame Bistro 11. Mage's Menu Manor 12. Mythical Munchery 13. Mermaid's Galley 14. Fabled Fare Feasts 15. Wizardry & Wonders Diner

16. Griffin's Gourmet Guild 17. Seraphic Supper Spot 18. Fey Feasthouse 19. Astral Aura Eateries 20. Chrono Culinary Cove 21. Arcane Appetites Café 22. Cosmic Creatures Café 23. Elven Enclave Eats 24. Enchanted Grove Grub 25. Dreamer's Dining Den 26. Enigma Elixirs Eatery 27. Wyvern's Wok 28. Faerie Fusions 29. Valkyrie's Vanguard Venue 30. Cosmic Concoctions Castle

1. Rise & Dine Café 2. Morning Glory Griddle 3. Breakfast Boulevard 4. Sunshine Café & Grub 5. Early Riser Eateries 6. Crispy Mornings Café 7. Flapjack Palace 8. Sunny Side Spot 9. Morning Bites Buffet 10. Early Bird Eats

11. The Breakfast Clubhouse 12. Rise ’n’ Shine Café 13. Daybreak Diner Delights 14. Sunrise Serenade Café 15. Crave & Savor Breakfast 16. Golden Morning Griddle 17. Pancake Paradise 18. Morning Morsels Café 19. Fresh Start Eateries 20. A.M. Delights Diner

Did you find some cool restaurant names?

We provided lists of names you might like for your own restaurant. The restaurant’s concept will play a heavy role in how you name your business. A name that will work for a coffee shop won’t work for an elegant restaurant.

Take the time to think about what type of restaurant business you’ll start, then come up with a list of your top names for restaurants. Once you’ve settled on good names of restaurants, check that they are available as a web domain, social media profiles, and as business names.

Did this blog help you think of cool names for your business?

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 .

664 Painting Business Names (2024)

Painting business names are used in all kinds of industries. From house painters to artists and face painting businesses, if your company uses paint, you need a good paint company name.

[su_note note_color="#dbeafc"] Shop the entire list or click on any of the links below to jump right to the kind of painting company names you need.

76 House Painting Business Names

90 good painting business names, 102 creative painting business names, 120 professional painting business names, 96 cool painting business names, 94 catchy painting business names, 86 face painting business names, what makes good painting company name ideas, what should i name my painting business, examples of good names for painting companies, how to register your painting business name.

• Next Steps After Naming Your Painting Business   [/su_note]

Are you looking for painting company name ideas that will work for a house painting company? Check out these names for painting businesses!

1. Precision Painting Services 2. Northwest Painting Co. 3. FreshCoat Homes 4. MasterCraft Painting Services 5. Elite Paint Solutions 6. Paint Perfection 7. Empire State Painting Services 8. Elite Color Homes 9. Mammoth Painters 10. Masterful Painting 11. Lincoln Memorial Painters 12. Golden Gate Painters 13. Precision Pro 14. Crafty Painters 15. Elite Artistry 16. Paint Masters 17. Niagara Falls Painting 18. World Trade Painting Co 19. MasterCraft Colorists 20. Elite Paint Finishes 21. Precision Palette 22. Crafty Coatings 23. Elite Impressions 24. Garden of the Gods Painting 25. Pearl Harbor Painting Solutions 26. Spectrum Coatings 27. Gateway Arch Painters 28. Bright House 29. Quality Coatings 30. Monument Valley Painters 31. Master Stroke 32. Precision Coatings 33. Color Splash 34. Liberty Island Painting Services 35. Niagara Painting 36. Worldwide Painters 37. Yosemite Painting Services 38. Yellowstone Painting

39. Arlington Painting Solutions Co. 40. Brighten Up 41. Color Works 42. Master Stroke 43. Color Splash 44. Space Needle Painting 45. Portland Light Painting Services 46. Paint Craft 47. Precision Masters 48. Everglades Painting Services 49. Boone’s Lick Painters 50. Spectrum Painting 51. Expert Brushstrokes 52. Premier Pigments 53. Coatings Master 54. Premier Paintworks 55. Colorway Solutions 56. Premier Brushworks 57. Prime Artisans 58. The Expert Canvas 59. Home Masterpiece Painters 60. Vibrant Makers Co. 61. Color Revival 62. Prime Concept 63. The Bright Side Painters 64. Prime Brush and Beyond 65. Expert Mural Kings 66. Infinite Tints 67. Elegance Painters Co. 68. SprayWay 69. Color Coaters 70. Spray Zone 71. Home Artisans 72. Spray Works 73. Spray Savers 74. House Painting Services 75. Mural Works Co. 76. Gallery Haus Solutions

Pro Tip: Choose a name that conveys expertise, reliability, and creativity. Incorporate words like “precision,” “mastercraft,” or “elite” to highlight skill.

You might also consider local landmarks or your city's name for a personalized touch. Keep it simple, memorable, and easy to spell for word-of-mouth referrals. Spray-Net decided to keep it simple and communicate what makes their painting services different. Check out our interview with them below.

Some good painting business name ideas include:

1. Prime Colors 2. Expert Painting Solutions 3. Paint Wise 4. Prime Time Painting 5. Paint Perfect 6. Paint Bros. 7. Expert Color Concepts 8. Paint Express 9. Superior Painters 10. Master Painters 11. Expert Prime Coaters 12. Painters Plus 13. Quality Painting 14. Master Coaters 15. Paint Artisans 16. Color Masters 17. Painters Deluxe 18. Professional Coating Masters 19. Elite Painting Solutions 20. Paint Premier 21. Prime Painting 22. Expert Paint Solutions 23. Quality Paint Pros. 24. Lean on Me Painting Services 25. Trust Paint 26. Premier Painters 27. Skillful Painters 28. Premier Coatings 29. Expert Paint Works 30. Quality Paint Masters 31. Trustworthy Painting Solutions 32. Skill Paint 33. Premier Finishes 34. The Color Theory 35. Color Expressions 36. Color Stylists 37. Paint Plus 38. Paint Sense 39. Color Smart 40. Paint Gallery Artisan 41. Color Power Co. 42. Prime Paints 43. Expert Coating Solutions 44. Quality Paint Design 45. The Reliable Painters

46. Paint Max 47. Color Crafty 48. Paint Edge 49. Color Sensibilities 50. Paint Power Pro 51. Trust Coatings 52. Skilled Painting Co. 53. Color Pro 54. Paint Studio 55. Color Vision 56. Paint Focus 57. Your Paint Crew 58. Color Experts 59. Paint Style Deluxe 60. Color & Skill 61. Expert Color Craftsmen 62. Fine Coat Solutions 63. Premier Artistic Impressions 64. Expert Coatings 65. The Prime Palette 66. Pigment Kings Co. 67. Chroma Royals 68. Color Printers 69. Vivid Interiors 70. Brushstroke Haven 71. Room Reimagined 72. Fresh Coat Living 73. Interior Artistry 74. Home Harmony 75. Nook Refinement 76. Curb Appeal Crafters 77. Color Impressions 78. Roof Colors Renaissance 79. Brick & Blossom Consultants 80. Exterior Envy Co. 81. Full Spectrum Finishes 82. The Foyer Theory 83. Living Canvas Creations 84. Fresh Start Finishes 85. The Palette 86. Wall Makers Anonymous 87. Bland to Grand 88. Repaint Revolution 89. Brushstroke Boutique 90. Canvas Consultants

Pro Tip: Choose a name that reflects professionalism, quality, and reliability. You might incorporate words like “premier,” “prime,” or “expert” to convey expertise. Also, consider including your location or specialty to stand out. Most importantly, emphasize your trustworthiness and skill in the painting industry.

Creative names for a painting company include:

1. Creative Coats 2. Colorful Creations 3. Canvas Creations 4. Brush On 5. Fresh Paint 6. Brighter Homes 7. Artistic Painting 8. Rainbow Masters 9. Colorful Coating 10. Splash Painting 11. Paint Pros 12. Elegant Coating 13. Paint Express 14. Vibrant Homes 15. Creative Painting Services 16. Paint Solutions 17. Quality Coating 18. Paint Works 19. Paint and Sip 20. Color Vision 21. Paint Zone 22. Stylish Coating 23. Paint Magic 24. Color Therapy 25. Paint House 26. Paint Shop 27. My Color Story 28. Paint Party 29. Mix-Color 30. Paint Brush 31. Color Blocking Society 32. Paint Bucket 33. Color Burst 34. My Paint Spot 35. Color Match 36. Paint Line 37. Waves and Colors 38. Paint Dropper 39. Color Crush 40. Paint Flow 41. The Smooth Painter 42. Color Mood 43. Paint Point 44. Color Space 45. Easy Painting 46. Paint Appeal 47. Color Spark 48. Paint Dot 49. Blends and Paints 50. Paint Patch 51. Paint the Night Away

52. Paint Your Own 53. Color Code Painting Service 54. Paint Bucket 55. Bright and Glossy Co. 56. Gallery Pros 57. The Minimalist Painters 58. Bright Drop Painting 59. Paint Strokes 60. Custom Paint Bros. 61. Spectrum Canvas 62. Wonderful Dwellings 63. Chromatic Craftsmen 64. Canvas Renew 65. Huesmiths & Co. 66. The Finishing Touch 67. Next Chapter Color 68. Facade & Fable 69. Wallflower Revival 70. Skylark Palette 71. The Color Architects 72. The Canvas Chameleons 73. Huescape Design 74. Pigment Makers 75. Prism Renovations 76. The Color Curators 77. Brushstroke Alchemy 78. The Mural Maestros 79. Sun & Shadow Creative 80. Whispers of Color 81. Kaleidoscope Homes 82. The Color Foundry 83. Light & Layers, Inc. 84. The Canvas Whisperers 85. Brushfire Transformations 86. The Color Code 87. Brush with Brilliance 88. Color Canvas Studios 89. The Sunlit Brush 90. Brush & Bloom Designs 91. Facade Alchemists 92. Hue Curated Homes 93. The Canvas Alchemists 94. Brushstroke Symphony Design 95. The Shifting Palette 96. Wallflowers 2 Wow 97. Chromatic Chameleons 98. Brush & Blossom Interiors 99. The Sunlit Facade 100. Hue Haven Designs 101. Brushstroke Dreamscape 102. The Color Whisperers

Pro Tip: Choose a creative name for your business in painting to help people understand what you do. Check out this painting terminology blog for words to use in creative names for your painting business.

Professional painters need a naming process that shows they are experts. Consider some of these names that are perfect for a professional painter:

1. Paint Pros 2. PaintGreen Professional Painters 3. Chicago Paint Experts 4. Dependable Painting LV 5. Paint Kings 6. Superior Painting 7. Paint Perfectionists 8. Ace Color Solutions 9. Higher League Coating 10. Elite Painters 11. Pro Painting League 12. Top Coating Masters 13. Prime Painters 14. Expert Painting 15. Superior Coating 16. Master Painters 17. Skillful Painting 18. Great Coating 19. Smart Painters 20. Top Notch Painting 21. Ace Painting Plus 22. Top Paint Pros 23. Perfect Painting 24. Paint Vision 25. Ace of Shades 26. Paint Concepts 27. Big League Coatings 28. Brush Craft Professionals 29. Palette Prestige 30. Master Stroke Services 31. Artisan Hues 32. Prime Canvas Creations 33. Precision Paintcraft 34. ProFinish Artistry 35. ColorVista Studios 36. Elite Palette Partners 37. Canvas Masters 38. Brush Masters Co. 39. TopCoat Artisans 40. Fine Line Finishes 41. Prestige Paintworks 42. Canvas Elite Decor 43. Artistry Experts 44. Brushwork Artisans Co. 45. Viva Color Studios 46. Prime Hue Masters 47. Artisan Finishes 48. Superior Painters Co. 49. Luxe Finishings Co. 50. Painters' Collective 51. Vivid Palette Ventures 52. Brush Elite Artisans 53. My Pigment Partners 54. Fine Line Artistry Studios 55. Finish Prestige 56. Brush Masters Artistry 57. Color Connoisseurs 58. Elite Palette Artisans 59. Artisan Studios 60. TopCoat Brilliance

61. The Fine Line Co. 62. Canvas Decorators 63. Your Pigment Partners 64. Vivid Palette Artisans 65. Brush Elite Finishes 66. Precision Paintworks 67. The Fine Line Collective 68. ProFinish Partners 69. Atelier Painters 70. My Pigment Decorators 71. Luxe Finishings Artistry 72. Vivid Palette Studios 73. Brush Connoisseurs 74. Pigment Masters 75. Canvas Artisans 76. Precision Palette Makers 77. Masterstroke Renovations 78. Chromatic Transformations 79. Elevated Finishes 80. Brushcraft Collective 81. Colored Surfaces 82. Vivid Hues Design 83. Reimagine Design Co. 84. Pro Brush Painting Solutions 85. The Flawless Finish 86. Pinnacle Paintworks 87. Keystone Coatings 88. Stellar Palette 89. Zenith Strokes 90. Vantage Point Painting 91. Master Class Colors 92. Bespoke Canvas 93. Envisionary Paintworks 94. The Color Architects 95. Impeccable Shades 96. Reimagine Exteriors 97. The Finish Line Painting 98. Luxe Living Paintscapes 99. Precision Paint Collective 100. Signature Color Studios 101. Aura Aesthetics 102. Kaleidoscope Interiors 103. The Transformation Squad 104. Pinnacle Refinement 105. Bespoke Interiors Co. 106. Flourish Home Designs 107. The Surface Masters 108. Chromatic Revolutions 109. Vivid Vision Painters 110. Elevate Design Studios 111. Pinnacle Finishes 112. Color Alchemy Design 113. The Precision Brush 114. Luxe Canvas Studios 115. Signature Interiors Co. 116. Elevate Exteriors 117. The Transformation Collective 118. Master Class Renovations 119. Vantage Point Design Studio 120. Envision Interiors Co.

Pro Tip: Consider incorporating words like “ace,” “big league,” or other synonyms when choosing a professional name for your painting company.

Paint pros might want cool painting company names. Here are our top picks:

1. Paint It Cool 2. Artistic Touch 3. Paint Pro 4. Colorful Solutions 5. Brush Masters 6. Color Magic 7. Artful Painters 8. Color Zone 9. Paint Express 10. Brush Works 11. Paint and Chill 12. Color Splash 13. Artistic Expressions 14. PaintWise 15. Brush Strokes 16. Paint Vibes 17. Paint Fusion 18. Artful Solutions 19. Paint Smart 20. Brush Up 21. Chroma Craft Studios 22. Urban Brush Collective 23. Cool Canvas Creations 24. Hue Artistry 25. Paint Pulse Studios 26. Color Fusion Co. 27. Street Palette Painters 28. Spectrum Decor Co. 29. Graffiti Glow Arts 30. Urban Easel Studios 31. Chromatic Vista 32. City Canvas Crafters 33. Metro Palette Artisans 34. Splatter Street Studios 35. Street Brush Creations 36. Concrete Canvas 37. Color Wave Artistry 38. Downtown Dyes 39. Graffiti Groove 40. Spectrum Shade Crafters 41. City Hue Artisans 42. Neon Nectar Studios 43. Chroma Collective 44. Urban Canvas Experts 45. Vibrant Studios 46. City Graffiti Artistry 47. Street Splash Creations 48. The Abstract Decor

49. Urban Easel Decorators 50. Chromatic Painters 51. Graffiti Studios 52. City Brush Artisans 53. Concrete Canvas Solutions 54. Splash City Artistry 55. Street Palette Decorators 56. Abstract Artisans Co. 57. The Urban Brush 58. City Canvas Co. 59. Vibe Artistry 60. Concrete Palette Solutions 61. Chroma Painters 62. Color Wave Collective 63. Vibrant ’n’ Visionary 64. Chroma Royals 65. Spectrum Shifters 66. Wallflower Wonderland 67. The Sunlit Palette 68. Brushfire Design 69. Whispering Walls Studio 70. Facadism 71. Brushstroke Dreamscapes 72. Color & Canopy 73. Metamorphosis Masters 74. Wallflower Revival Company 75. The Color Alchemists 76. Silhouette Studios Inc 77. Shifting Palettes 78. The Colour Chameleons 79. Wow Interiors 80. The Sunlit Facade Co. 81. My Canvas Chronicles 82. The Facade Alchemists 83. Curated Homescapes 84. The Canvas Whisperers Atelier 85. Artisan Hues & Co. 86. The Colour Code Studio 87. Sun-Kissed Brushstrokes 88. Canvas Odyssey Collective 89. Whispers of Color Interiors 90. The Facade Architects 91. Light & Layers Painters 92. The Shifting Palette Collective 93. Wow Renovations 94. Chromatic Atelier 95. Prism & Bloom Studios 96. Floral Walls Inc.

Pro Tip:   Cool painting names can come in all forms. Think of some cool paint company names specific to your business idea. For instance, Everline Coatings paints the lines for parking lots, and their name suggests the lines are long-lasting. Check out our interview with the CEO below.

Consider some of these catchy painting company names to get inspired:

1. Paintegrity 2. Paint the Town Red 3. Brush Off 4. Art Sense 5. Color Wheel 6. Artful Dodger 7. Paint by Numbers 8. Color Coders 9. Rose Colored Brushes 10. Painting with Passion 11. Mr. Paint 12. Art Attack 13. Picture Perfect 14. Color Palette 15. Brush with Fame 16. Paint Pride Co. 17. Color Harmony 18. Art Smart 19. Dreamscape Painters 20. ColorPop 21. Art Lab 22. Art House 23. Creative Canvas 24. Fine Tints 25. Dazzling Hues 26. Imaginative Paint, Inc. 27. Kaleidoscope Palette 28. Palette Pro 29. Art Wise, Inc. 30. Paint Fun 31. Brush Play 32. The Color Scheme 33. Tint Artisans 34. Stain’d Artists 35. Express Graffiti 36. Paint Corner 37. My Personal Palette 38. Brush Popper 39. The Joy in Color 40. Paints and Sensibilities 41. I Love Me in Color 42. Life x Rainbow 43. Paint and Run 44. Paint It Forward 45. Green Paint 46. Paint Pals 47. Happy Paints

48. Brush Ministries 49. Brush and Beyond 50. InfiniTints 51. House of Hue 52. Splash Kings 53. Star Colors 54. Touch of Hues 55. Paint and Decor 56. Color Your Home 57. Interior Motives 58. Paint the Walls 59. Paint and Polish 60. Interior Magic 61. Paint and Shine 62. Paint and Spice 63. Color My Harmonies 64. Paint and Sparkle 65. Color Palette 66. Interior Trends 67. Paint and Grace 68. Color Sense 69. Interior Impressions 70. Paint and Glam 71. Your Interior Flair 72. Paint and Charm 73. Interior Touch 74. Paint Your Dream 75. Paint and Create 76. Inspired Paints 77. Interior Bliss 78. Paint and Transform 79. Interior Glow 80. Paint and Refresh 81. Color House 82. Interior Works 83. Paint and Renew 84. Color Flow 85. Interior Joy 86. Paint and Enhance 87. ColorMix 88. Interior Wonder 89. The Eco Brush 90. Wall Melodies 91. Wall Wonders 92. Paintallica 93. Hue & You 94. The Shade Shifters

Pro Tip: A catchy painting business name will often use wordplay to help create a compelling and memorable name. Some ways to create a memorable name include alliteration, puns, and other fanciful language with keywords related to your painting services.

Starting a face painting business? Consider these hand-picked names:

1. Color Me Happy 2. Painted Smiles 3. Color Me Crazy 4. Face Off Painting 5. Paint the Town 6. Face the Rainbow 7. Color Me Pretty 8. Paint It Forward 9. Painted Smiles 10. Sparkle Painting 11. Paint Me Happy 12. FaceMagic 13. Paint Box 14. Face Pop 15. Painted Wishes Co. 16. Face Paintopia 17. Paint Parties 18. Paint It Forward 19. Fizz Painters 20. Paint Splash 21. Rainbow Splash 22. Brush With Magic 23. Paint and Smile 24. Colorful Expressions 25. Rainbow Faces 26. Let's Face It 27. Paint and Play 28. Colorful Creations 29. Painted Wonders 30. Rainbow Magic 31. Artful Faces 32. Face Time 33. My Face Rainbows 34. Brush Me Away 35. The Doodler 36. Whimsy Brush Express 37. Doodle Studios 38. The Cheeky Canvas 39. Smiles and Paints 40. Fanciful Faces Co. 41. Doodle Gallery 42. Happy Hue Designs 43. Playful Palette Studios

44. Pint Size Paints 45. My Joyful Jester 46. Wacky Creations 47. Lively Blush Arts 48. Mask Studio Creations 49. Laughs and Paints 50. Laugh Lines 51. Dab Creations 52. Chuckle Lines Co. 53. Smile Artist 54. The Jolly Face 55. Face Graffiti 56. Mask Studios 57. Paint and Pout 58. Art on Your Face 59. Babyface Paint Parties 60. Painted Lady 61. Face the Facts 62. Face Value 63. Art of the Matter 64. Paint Your Wagon 65. Painted Love 66. Color Me Beautiful 67. Face of the Future 68. Color Me Impressed 69. Carnival Face Painters 70. Face of the Crowd 71. Face Dreams 72. Face Forward 73. Paint for All Ages 74. Art Nouveau Face Painting 75. Face the Music 76. Paint Your Heart Out 77. Paint Safari 78. Color Me Mine 79. Face Art House 80. Paint It Green 81. Face Up 82. Paint and Glow 83. Colors of The Wild 84. Face Art Therapy 85. Face the World 86. Paint Me Up

Pro Tip: Opt for a name that sparks creativity and captures the fun and whimsy of face painting. Consider playful words like “ColorSplash,” “ImaginFace,” or “WhimsiPaint.” Ensure it's family-friendly (unless you’re doing adult-only events!) and easy to remember for word-of-mouth recommendations.

Incorporate elements that highlight your artistic skills and the joy you bring to events. Check for domain availability to establish a strong online presence, and ensure the name aligns with your brand's image.

A good painting business name should incorporate several key qualities to effectively represent your brand and attract customers. Painting company name ideas should be:

• Memorable so that people don’t forget it
• Relevant to the painting services you offer
• Professional so that people aren’t turned off by the name
• Unique to help people remember
• Creative to inspire potential customers
• Locally relevant to help identify your painting company within the community
• Scalable so you don’t limit yourself from the start
• Available as a domain because you’ll need it for a website
• Positive so people don’t question it
• Versatile so your painting company can add new services in the future

Remember to take your time and carefully evaluate different options before finalizing your painting business name. Get feedback from others, and make sure the chosen name aligns with your brand identity and values.

Naming your painting business is an important decision. Here are a few suggestions to help you brainstorm:

• Precision Paintworks
• Artisan Brush Co.
• Vivid Visions Painting
• Epic Coat Creations
• Prime Palette Painters
• Majestic Strokes Painting
• Urban Canvas Crafters
• Masterpiece Painters
• Elite Edge Coatings
• ChromaCraft Solutions

Remember to choose a name that aligns with your brand values, is easy to remember, and gives a positive impression of your painting services. Additionally, check for domain availability if you plan to have an online presence.

Wise Coatings is another company similar to a painting service. They epoxy surfaces and make it easy for people to have wonderful-looking homes. Their CEO has partnered with us to offer franchises and a course to help you achieve your business vision, brand identity, and a lasting impression. Be one of the first to try out the new course .

Registering your painting business name involves several steps to ensure legal compliance and protection. Here's a general guide:

• Check Name Availability: Before you start the registration process, ensure the name you've chosen is unique and not already in use by another business. You can check with your local business registry or online business name databases.
• Business Structure Registration: Depending on your location, you may need to register your business structure (e.g., sole proprietorship, LLC, corporation). Contact your local government or business registration office for information on the specific requirements and forms.
• Trademark Search and Registration (optional): Consider conducting a trademark search to ensure there are no existing trademarks on the name. While not mandatory, registering a trademark can provide additional legal protection. You can do this through the United States Patent and Trademark Office (USPTO) or the relevant authority in your country.
• Domain Name Registration: If you plan to have an online presence, check the availability of the domain name associated with your business. Registering a domain name that matches your business name can help establish a consistent brand presence.
• Local Business License: Obtain the necessary licenses and permits to operate your painting business legally. Contact your local city or county government to inquire about the specific requirements for your location.
• Register with Tax Authorities: Register your business with the appropriate tax authorities. Obtain an Employer Identification Number (EIN) if required—depending on your business structure, it may be required for tax purposes and hiring employees.
• Business Insurance: Consider obtaining business insurance to protect your painting business from potential liabilities. Insurance requirements may vary based on your location and business structure.
• Open a Business Bank Account: Separate your personal and business finances by opening a business bank account. This is crucial for tracking expenses, managing taxes, and maintaining financial transparency.

Always consult with a legal representative and business authorities to ensure you are following the specific regulations and requirements applicable to your location and industry.

Next Steps After Naming Your Painting Business

Discovering the ideal name for your painting business is an exciting and crucial step in launching your venture. With a plethora of options ranging from catchy and cool, humorous to professional, you have a diverse selection of names to consider for your painting business.

Outstanding painting business names revolve around uniqueness, memorability, and a connection to your target audience. A well-chosen name will make a distinct mark in a competitive market, creating a lasting impression on your clients.

In addition to presenting numerous name ideas, we've guided you on what factors to weigh when naming your painting business and how to register it once you've made a decision.

Ultimately, your painting business name serves as the cornerstone of your brand identity. Choose thoughtfully, register diligently, and help your painting business name become synonymous with a quality experience. What painting company name ideas do you like most?

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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How to Write a Business Plan, Step by Step

Rosalie Murphy is a small-business writer at NerdWallet. Since 2021, she has covered business insurance, banking, credit cards and e-commerce software, and her reporting has been featured by The Associated Press, MarketWatch, Entrepreneur and many other publications. Rosalie holds a graduate certificate in Quantitative Business Management from Kent State University and is now pursuing an MBA. She is based in Chicago.

Ryan Lane is an editor on NerdWallet’s small-business team. He joined NerdWallet in 2019 as a student loans writer, serving as an authority on that topic after spending more than a decade at student loan guarantor American Student Assistance. In that role, Ryan co-authored the Student Loan Ranger blog in partnership with U.S. News & World Report, as well as wrote and edited content about education financing and financial literacy for multiple online properties, e-courses and more. Ryan also previously oversaw the production of life science journals as a managing editor for publisher Cell Press. Ryan is located in Rochester, New York.

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

What is a business plan?

1. write an executive summary, 2. describe your company, 3. state your business goals, 4. describe your products and services, 5. do your market research, 6. outline your marketing and sales plan, 7. perform a business financial analysis, 8. make financial projections, 9. summarize how your company operates, 10. add any additional information to an appendix, business plan tips and resources.

A business plan outlines your business’s financial goals and explains how you’ll achieve them over the next three to five years. Here’s a step-by-step guide to writing a business plan that will offer a strong, detailed road map for your business.

ZenBusiness

A business plan is a document that explains what your business does, how it makes money and who its customers are. Internally, writing a business plan should help you clarify your vision and organize your operations. Externally, you can share it with potential lenders and investors to show them you’re on the right track.

Business plans are living documents; it’s OK for them to change over time. Startups may update their business plans often as they figure out who their customers are and what products and services fit them best. Mature companies might only revisit their business plan every few years. Regardless of your business’s age, brush up this document before you apply for a business loan .

» Need help writing? Learn about the best business plan software .

This is your elevator pitch. It should include a mission statement, a brief description of the products or services your business offers and a broad summary of your financial growth plans.

Though the executive summary is the first thing your investors will read, it can be easier to write it last. That way, you can highlight information you’ve identified while writing other sections that go into more detail.

» MORE: How to write an executive summary in 6 steps

Next up is your company description. This should contain basic information like:

Your business’s registered name.

Address of your business location .

Names of key people in the business. Make sure to highlight unique skills or technical expertise among members of your team.

Your company description should also define your business structure — such as a sole proprietorship, partnership or corporation — and include the percent ownership that each owner has and the extent of each owner’s involvement in the company.

Lastly, write a little about the history of your company and the nature of your business now. This prepares the reader to learn about your goals in the next section.

» MORE: How to write a company overview for a business plan

The third part of a business plan is an objective statement. This section spells out what you’d like to accomplish, both in the near term and over the coming years.

If you’re looking for a business loan or outside investment, you can use this section to explain how the financing will help your business grow and how you plan to achieve those growth targets. The key is to provide a clear explanation of the opportunity your business presents to the lender.

For example, if your business is launching a second product line, you might explain how the loan will help your company launch that new product and how much you think sales will increase over the next three years as a result.

» MORE: How to write a successful business plan for a loan

In this section, go into detail about the products or services you offer or plan to offer.

You should include the following:

An explanation of how your product or service works.

The pricing model for your product or service.

The typical customers you serve.

Your supply chain and order fulfillment strategy.

You can also discuss current or pending trademarks and patents associated with your product or service.

Lenders and investors will want to know what sets your product apart from your competition. In your market analysis section , explain who your competitors are. Discuss what they do well, and point out what you can do better. If you’re serving a different or underserved market, explain that.

Here, you can address how you plan to persuade customers to buy your products or services, or how you will develop customer loyalty that will lead to repeat business.

Include details about your sales and distribution strategies, including the costs involved in selling each product .

» MORE: R e a d our complete guide to small business marketing

If you’re a startup, you may not have much information on your business financials yet. However, if you’re an existing business, you’ll want to include income or profit-and-loss statements, a balance sheet that lists your assets and debts, and a cash flow statement that shows how cash comes into and goes out of the company.

Accounting software may be able to generate these reports for you. It may also help you calculate metrics such as:

Net profit margin: the percentage of revenue you keep as net income.

Current ratio: the measurement of your liquidity and ability to repay debts.

Accounts receivable turnover ratio: a measurement of how frequently you collect on receivables per year.

This is a great place to include charts and graphs that make it easy for those reading your plan to understand the financial health of your business.

This is a critical part of your business plan if you’re seeking financing or investors. It outlines how your business will generate enough profit to repay the loan or how you will earn a decent return for investors.

Here, you’ll provide your business’s monthly or quarterly sales, expenses and profit estimates over at least a three-year period — with the future numbers assuming you’ve obtained a new loan.

Accuracy is key, so carefully analyze your past financial statements before giving projections. Your goals may be aggressive, but they should also be realistic.

NerdWallet’s picks for setting up your business finances:

The best business checking accounts .

The best business credit cards .

The best accounting software .

Before the end of your business plan, summarize how your business is structured and outline each team’s responsibilities. This will help your readers understand who performs each of the functions you’ve described above — making and selling your products or services — and how much each of those functions cost.

If any of your employees have exceptional skills, you may want to include their resumes to help explain the competitive advantage they give you.

Finally, attach any supporting information or additional materials that you couldn’t fit in elsewhere. That might include:

Licenses and permits.

Equipment leases.

Bank statements.

Details of your personal and business credit history, if you’re seeking financing.

If the appendix is long, you may want to consider adding a table of contents at the beginning of this section.

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Here are some tips to write a detailed, convincing business plan:

Avoid over-optimism: If you’re applying for a business bank loan or professional investment, someone will be reading your business plan closely. Providing unreasonable sales estimates can hurt your chances of approval.

Proofread: Spelling, punctuation and grammatical errors can jump off the page and turn off lenders and prospective investors. If writing and editing aren't your strong suit, you may want to hire a professional business plan writer, copy editor or proofreader.

Use free resources: SCORE is a nonprofit association that offers a large network of volunteer business mentors and experts who can help you write or edit your business plan. The U.S. Small Business Administration’s Small Business Development Centers , which provide free business consulting and help with business plan development, can also be a resource.

More From Forbes

How to create a three-year plan in three, practical steps.

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In my last article , I talked about how my big vendetta against 5-10-plus year plans is that they are rarely practical .

Today, we are going to focus on how to create your own practical plan.

Due to requests I got for more details about the plan itself, I wrote this article to dive deeper into the three-phase practical plan I use for myself and my clients to outline  exactly  how you can create it on your own.

So, let’s dig in!

The Three-Phase Plan That’s Actually Practical

The three-phase plan I’m about to give you was inspired by my mentor Michael Gerber, who once gave me this great nugget of wisdom: “You need to dream big, think small and act even smaller.”

The key to this nugget of wisdom is that it helps us break our future plans into three phases so we can think in the long-, mid- and short-term. It looks like this:

• The Three-Year Vision (dream big in the long-term)

• The One-Year Goal (think small in the mid-term)

• The 90-Day Milestones (act even smaller in the short-term)

Separating your plan into these three distinct phases will give you just the right balance of those two types of connections (motivational and rational) necessary to create real results. But you must have all three phases for this to work.

If you just have the long-term vision, there won’t be enough implementation -- you’ll just be daydreaming all day without any clear, short-term actions.

And if you just have the short-term milestones? You might be doing plenty of implementation and feel like you’re getting a lot done, but without looking to the future, you may be doing things that ultimately hold you back from reaching your goals.

Let’s look at what each of these three phases consists of, why they work and how you can fulfill each one on your own.

Dream Big: The Three-Year Vision (Long-Term)

For most of us, putting our vision out as far as 5-10 years in the future just doesn’t make sense. The entrepreneurial world (and our world in general) changes much too quickly for that.

Plus, if we put our plan out too far, we quickly lose focus and that motivational connection we’ve been talking about.

So, I’ve found right around three years to be the sweet spot for creating a vision that gives you that “just-right” gut feeling.

To create your own three-year vision, ask yourself: “What results do I want to create for myself and my business three years from now?”

Keep in mind that here you are defining what you want to do, not how you want to do it. We’ll save the "how" for another time.

Some examples of three-year visions include:

• Have 100 new clients
• Increase annual revenue 35%
• Take six times the vacation  you do now

Once you’ve dreamed big and established your vision, it’s time think small.

Think Small: The One-Year Goal (Mid-Term)

Only looking three years in the future is still pretty far out. To make sure you actually reach that vision, you need to break things down even more.

That’s why you should take that three-year vision and create a more precise, practical mid-term version of it: one-year goals.

This will help increase that motivational connection (without losing any of the rational connection) and help you make more short-term progress.

To create your one-year goals, consider the type of work that needs to be done to achieve your three-year vision. Then, take roughly one-third of that work from the vision and make that your one-year goal.

As an example, if your three-year vision is to have 100 new clients, your one-year goal might be to have 25 new clients.

Obviously, this isn’t exactly one-third of that three-year vision.

And this is an important thing to keep in mind: Likely, your first bout of growth will start more slowly. Between the initial setup, learning what you need to do, and adopting the right systems, progress will be smaller in the beginning. So, make sure you first year’s goal reflects this.

Then, as time goes by, your one-year goals can get bigger, faster and stronger.

But don’t worry about your other one-year goals just yet! Simply get your first one down on paper and create the other two as each year finishes.

After you dream big and think small, you move on to acting even smaller.

Act Even Smaller: 90 Day Milestones (Short-Term)

Your three-year vision and one-year goal push your plan closer to practicality. But on their own, they still don’t naturally transition into practice or day-to-day actions.

So, your next step is to simplify and break down your plan even more by taking each one-year goal and dividing it into four 90-day milestones.

Now, with a clear image in mind for what you need to achieve in the long-, mid- and short-term, you can easily transition these images into practice with your day-to-day and week-to-week actions.

Ask yourself: "How can I divide my one-year goal into four 90-day milestones?" Then, divide and conquer.

So, if my three-year vision is to have 100 new clients and my first-year goal is to have 25 new clients, my 90-day milestones might be four new clients, six new clients, seven new clients, then eight (or maybe even more) new clients.

Once you have this, you can continue dividing your 90-day milestones into smaller chunks (one-month check-ins, weekly tasks, etc.) if you like.

What’s Next?

Once you’ve created your three-phase practical plan, make it real and record it! Create a mindmap, write it in a journal, design a graphic — just don't leave it floating around in your head (otherwise, we both know it'll never get done).

Let's get planning!

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Strategic Business Planning: Create a Powerful 3-5 Year Business Plan

Business owners need  strategic business planning  to maintain a competitive and profitable company. A three to five-year business plan will help you get there.

Having no plan is planning to fail. Without a well-thought-out business plan, you’ll run the risk of generating few results for your customers. You want to be productive, not just busy. 

A three to five-year business plan tells investors where you currently are, where you want to go, and how you’ll get there. 

Our #1 tip for getting started with a business plan

When you write your  business plan , be sure to use bullets and subheads outlining your topics and ideas. Breaking up the text will help people follow your train of thought and your goals. Remember to include SWOT analysis, a mission and vision statement, and  KPIs . 

Start your business plan with an executive summary. 

Lead with your executive summary. The executive summary aims to give readers a birds-eye-view of what your three to five-year business plan contains. You’ll provide more details on the key points in the executive summary throughout the rest of the plan.

Although you’ll start the business plan with the executive summary, you want to save writing it last. That gives you the best chance of leading with the most critical points in the rest of the plan and ensures the summary is concise and on-point. 

Give your mission statement.

A mission statement is a succinct description of the main objectives of your business and what you hope to achieve. It won’t be long — just a few sentences. But despite its brevity, a mission statement will take some time to craft. 

Clearly explain what your business is all about, why it exists, whom it serves, and where it wants to be in the future. The mission statement should fully encapsulate and communicate your vision. 

Conduct a SWOT analysis. 

SWOT stands for:

• Opportunities

Take an honest look at your team leaders and your company. What are you doing great? What needs some improvement? 

List the opportunities you see in the market and any threats that may stand in your way of capitalizing on those opportunities. 

List your strategic goals in the business plan next. 

Lofty aspirations have their place. But in a strategic business plan, you want to list specific, actionable, and measurable goals you wish to achieve. 

A goal may require more than one specific action, a fluctuating budget, or changing personnel resources. Goals you hope to achieve over several years will also require you to outline the smaller goals and action plans they’ll need to get you from point A to B. 

Outline your KPIs. 

Strategic plans need measurable goals. Your KPIs or key performance indicators will help you communicate how you’ll measure your success. Start with the result you want to achieve, and then work backward to communicate KPIs to your readers adequately.

Get started with strategic business planning today. 

At C&A, we work closely with business owners to create strategic business plans and organization planning for achieving long-term goals.  Contact us today  for a free consultation.

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How to Write a Business Plan in 9 Steps (+ Template and Examples)

Every successful business has one thing in common, a good and well-executed business plan. A business plan is more than a document, it is a complete guide that outlines the goals your business wants to achieve, including its financial goals . It helps you analyze results, make strategic decisions, show your business operations and growth.

If you want to start a business or already have one and need to pitch it to investors for funding, writing a good business plan improves your chances of attracting financiers. As a startup, if you want to secure loans from financial institutions, part of the requirements involve submitting your business plan.

Writing a business plan does not have to be a complicated or time-consuming process. In this article, you will learn the step-by-step process for writing a successful business plan.

You will also learn what you need a business plan for, tips and strategies for writing a convincing business plan, business plan examples and templates that will save you tons of time, and the alternatives to the traditional business plan.

Let’s get started.

What Do You Need A Business Plan For?

Businesses create business plans for different purposes such as to secure funds, monitor business growth, measure your marketing strategies, and measure your business success.

1. Secure Funds

One of the primary reasons for writing a business plan is to secure funds, either from financial institutions/agencies or investors.

For you to effectively acquire funds, your business plan must contain the key elements of your business plan . For example, your business plan should include your growth plans, goals you want to achieve, and milestones you have recorded.

A business plan can also attract new business partners that are willing to contribute financially and intellectually. If you are writing a business plan to a bank, your project must show your traction , that is, the proof that you can pay back any loan borrowed.

Also, if you are writing to an investor, your plan must contain evidence that you can effectively utilize the funds you want them to invest in your business. Here, you are using your business plan to persuade a group or an individual that your business is a source of a good investment.

2. Monitor Business Growth

A business plan can help you track cash flows in your business. It steers your business to greater heights. A business plan capable of tracking business growth should contain:

• The business goals
• Methods to achieve the goals
• Time-frame for attaining those goals

A good business plan should guide you through every step in achieving your goals. It can also track the allocation of assets to every aspect of the business. You can tell when you are spending more than you should on a project.

You can compare a business plan to a written GPS. It helps you manage your business and hints at the right time to expand your business.

3. Measure Business Success

A business plan can help you measure your business success rate. Some small-scale businesses are thriving better than more prominent companies because of their track record of success.

Right from the onset of your business operation, set goals and work towards them. Write a plan to guide you through your procedures. Use your plan to measure how much you have achieved and how much is left to attain.

You can also weigh your success by monitoring the position of your brand relative to competitors. On the other hand, a business plan can also show you why you have not achieved a goal. It can tell if you have elapsed the time frame you set to attain a goal.

4. Document Your Marketing Strategies

You can use a business plan to document your marketing plans. Every business should have an effective marketing plan.

Competition mandates every business owner to go the extraordinary mile to remain relevant in the market. Your business plan should contain your marketing strategies that work. You can measure the success rate of your marketing plans.

In your business plan, your marketing strategy must answer the questions:

• How do you want to reach your target audience?
• How do you plan to retain your customers?
• What is/are your pricing plans?
• What is your budget for marketing?

How to Write a Business Plan Step-by-Step

1. create your executive summary.

The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans . Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.

Generally, there are nine sections in a business plan, the executive summary should condense essential ideas from the other eight sections.

A good executive summary should do the following:

• A Snapshot of Growth Potential. Briefly inform the reader about your company and why it will be successful)
• Contain your Mission Statement which explains what the main objective or focus of your business is.
• Product Description and Differentiation. Brief description of your products or services and why it is different from other solutions in the market.
• The Team. Basic information about your company’s leadership team and employees
• Business Concept. A solid description of what your business does.
• Target Market. The customers you plan to sell to.
• Marketing Strategy. Your plans on reaching and selling to your customers
• Current Financial State. Brief information about what revenue your business currently generates.
• Projected Financial State. Brief information about what you foresee your business revenue to be in the future.

The executive summary is the make-or-break section of your business plan. If your summary cannot in less than two pages cannot clearly describe how your business will solve a particular problem of your target audience and make a profit, your business plan is set on a faulty foundation.

Avoid using the executive summary to hype your business, instead, focus on helping the reader understand the what and how of your plan.

View the executive summary as an opportunity to introduce your vision for your company. You know your executive summary is powerful when it can answer these key questions:

• Who is your target audience?
• What sector or industry are you in?
• What are your products and services?
• What is the future of your industry?
• Is your company scaleable?
• Who are the owners and leaders of your company? What are their backgrounds and experience levels?
• What is the motivation for starting your company?
• What are the next steps?

Writing the executive summary last although it is the most important section of your business plan is an excellent idea. The reason why is because it is a high-level overview of your business plan. It is the section that determines whether potential investors and lenders will read further or not.

The executive summary can be a stand-alone document that covers everything in your business plan. It is not uncommon for investors to request only the executive summary when evaluating your business. If the information in the executive summary impresses them, they will ask for the complete business plan.

If you are writing your business plan for your planning purposes, you do not need to write the executive summary.

2. Add Your Company Overview

The company overview or description is the next section in your business plan after the executive summary. It describes what your business does.

Adding your company overview can be tricky especially when your business is still in the planning stages. Existing businesses can easily summarize their current operations but may encounter difficulties trying to explain what they plan to become.

Your company overview should contain the following:

• What products and services you will provide
• Geographical markets and locations your company have a presence
• What you need to run your business
• Who your target audience or customers are
• Who will service your customers
• Your company’s purpose, mission, and vision
• Information about your company’s founders
• Who the founders are
• Notable achievements of your company so far

When creating a company overview, you have to focus on three basics: identifying your industry, identifying your customer, and explaining the problem you solve.

If you are stuck when creating your company overview, try to answer some of these questions that pertain to you.

• Who are you targeting? (The answer is not everyone)
• What pain point does your product or service solve for your customers that they will be willing to spend money on resolving?
• How does your product or service overcome that pain point?
• Where is the location of your business?
• What products, equipment, and services do you need to run your business?
• How is your company’s product or service different from your competition in the eyes of your customers?
• How many employees do you need and what skills do you require them to have?

After answering some or all of these questions, you will get more than enough information you need to write your company overview or description section. When writing this section, describe what your company does for your customers.

The company description or overview section contains three elements: mission statement, history, and objectives.

• Mission Statement

The mission statement refers to the reason why your business or company is existing. It goes beyond what you do or sell, it is about the ‘why’. A good mission statement should be emotional and inspirational.

Your mission statement should follow the KISS rule (Keep It Simple, Stupid). For example, Shopify’s mission statement is “Make commerce better for everyone.”

When describing your company’s history, make it simple and avoid the temptation of tying it to a defensive narrative. Write it in the manner you would a profile. Your company’s history should include the following information:

• Founding Date
• Major Milestones
• Location(s)
• Flagship Products or Services
• Number of Employees
• Executive Leadership Roles

When you fill in this information, you use it to write one or two paragraphs about your company’s history.

Business Objectives

Your business objective must be SMART (specific, measurable, achievable, realistic, and time-bound.) Failure to clearly identify your business objectives does not inspire confidence and makes it hard for your team members to work towards a common purpose.

3. Perform Market and Competitive Analyses to Proof a Big Enough Business Opportunity

The third step in writing a business plan is the market and competitive analysis section. Every business, no matter the size, needs to perform comprehensive market and competitive analyses before it enters into a market.

Performing market and competitive analyses are critical for the success of your business. It helps you avoid entering the right market with the wrong product, or vice versa. Anyone reading your business plans, especially financiers and financial institutions will want to see proof that there is a big enough business opportunity you are targeting.

This section is where you describe the market and industry you want to operate in and show the big opportunities in the market that your business can leverage to make a profit. If you noticed any unique trends when doing your research, show them in this section.

Market analysis alone is not enough, you have to add competitive analysis to strengthen this section. There are already businesses in the industry or market, how do you plan to take a share of the market from them?

You have to clearly illustrate the competitive landscape in your business plan. Are there areas your competitors are doing well? Are there areas where they are not doing so well? Show it.

Make it clear in this section why you are moving into the industry and what weaknesses are present there that you plan to explain. How are your competitors going to react to your market entry? How do you plan to get customers? Do you plan on taking your competitors' competitors, tap into other sources for customers, or both?

Illustrate the competitive landscape as well. What are your competitors doing well and not so well?

Answering these questions and thoughts will aid your market and competitive analysis of the opportunities in your space. Depending on how sophisticated your industry is, or the expectations of your financiers, you may need to carry out a more comprehensive market and competitive analysis to prove that big business opportunity.

Instead of looking at the market and competitive analyses as one entity, separating them will make the research even more comprehensive.

Market Analysis

Market analysis, boarding speaking, refers to research a business carried out on its industry, market, and competitors. It helps businesses gain a good understanding of their target market and the outlook of their industry. Before starting a company, it is vital to carry out market research to find out if the market is viable.

The market analysis section is a key part of the business plan. It is the section where you identify who your best clients or customers are. You cannot omit this section, without it your business plan is incomplete.

A good market analysis will tell your readers how you fit into the existing market and what makes you stand out. This section requires in-depth research, it will probably be the most time-consuming part of the business plan to write.

• Market Research

To create a compelling market analysis that will win over investors and financial institutions, you have to carry out thorough market research . Your market research should be targeted at your primary target market for your products or services. Here is what you want to find out about your target market.

• Your target market’s needs or pain points
• The existing solutions for their pain points
• Geographic Location
• Demographics

The purpose of carrying out a marketing analysis is to get all the information you need to show that you have a solid and thorough understanding of your target audience.

Only after you have fully understood the people you plan to sell your products or services to, can you evaluate correctly if your target market will be interested in your products or services.

You can easily convince interested parties to invest in your business if you can show them you thoroughly understand the market and show them that there is a market for your products or services.

How to Quantify Your Target Market

One of the goals of your marketing research is to understand who your ideal customers are and their purchasing power. To quantify your target market, you have to determine the following:

• Your Potential Customers: They are the people you plan to target. For example, if you sell accounting software for small businesses , then anyone who runs an enterprise or large business is unlikely to be your customers. Also, individuals who do not have a business will most likely not be interested in your product.
• Total Households: If you are selling household products such as heating and air conditioning systems, determining the number of total households is more important than finding out the total population in the area you want to sell to. The logic is simple, people buy the product but it is the household that uses it.
• Median Income: You need to know the median income of your target market. If you target a market that cannot afford to buy your products and services, your business will not last long.
• Income by Demographics: If your potential customers belong to a certain age group or gender, determining income levels by demographics is necessary. For example, if you sell men's clothes, your target audience is men.

What Does a Good Market Analysis Entail?

Your business does not exist on its own, it can only flourish within an industry and alongside competitors. Market analysis takes into consideration your industry, target market, and competitors. Understanding these three entities will drastically improve your company’s chances of success.

You can view your market analysis as an examination of the market you want to break into and an education on the emerging trends and themes in that market. Good market analyses include the following:

• Industry Description. You find out about the history of your industry, the current and future market size, and who the largest players/companies are in your industry.
• Overview of Target Market. You research your target market and its characteristics. Who are you targeting? Note, it cannot be everyone, it has to be a specific group. You also have to find out all information possible about your customers that can help you understand how and why they make buying decisions.
• Size of Target Market: You need to know the size of your target market, how frequently they buy, and the expected quantity they buy so you do not risk overproducing and having lots of bad inventory. Researching the size of your target market will help you determine if it is big enough for sustained business or not.
• Growth Potential: Before picking a target market, you want to be sure there are lots of potential for future growth. You want to avoid going for an industry that is declining slowly or rapidly with almost zero growth potential.
• Market Share Potential: Does your business stand a good chance of taking a good share of the market?
• Market Pricing and Promotional Strategies: Your market analysis should give you an idea of the price point you can expect to charge for your products and services. Researching your target market will also give you ideas of pricing strategies you can implement to break into the market or to enjoy maximum profits.
• Potential Barriers to Entry: One of the biggest benefits of conducting market analysis is that it shows you every potential barrier to entry your business will likely encounter. It is a good idea to discuss potential barriers to entry such as changing technology. It informs readers of your business plan that you understand the market.
• Research on Competitors: You need to know the strengths and weaknesses of your competitors and how you can exploit them for the benefit of your business. Find patterns and trends among your competitors that make them successful, discover what works and what doesn’t, and see what you can do better.

The market analysis section is not just for talking about your target market, industry, and competitors. You also have to explain how your company can fill the hole you have identified in the market.

Here are some questions you can answer that can help you position your product or service in a positive light to your readers.

• Is your product or service of superior quality?
• What additional features do you offer that your competitors do not offer?
• Are you targeting a ‘new’ market?

Basically, your market analysis should include an analysis of what already exists in the market and an explanation of how your company fits into the market.

Competitive Analysis

In the competitive analysis section, y ou have to understand who your direct and indirect competitions are, and how successful they are in the marketplace. It is the section where you assess the strengths and weaknesses of your competitors, the advantage(s) they possess in the market and show the unique features or qualities that make you different from your competitors.

Many businesses do market analysis and competitive analysis together. However, to fully understand what the competitive analysis entails, it is essential to separate it from the market analysis.

Competitive analysis for your business can also include analysis on how to overcome barriers to entry in your target market.

The primary goal of conducting a competitive analysis is to distinguish your business from your competitors. A strong competitive analysis is essential if you want to convince potential funding sources to invest in your business. You have to show potential investors and lenders that your business has what it takes to compete in the marketplace successfully.

Competitive analysis will s how you what the strengths of your competition are and what they are doing to maintain that advantage.

When doing your competitive research, you first have to identify your competitor and then get all the information you can about them. The idea of spending time to identify your competitor and learn everything about them may seem daunting but it is well worth it.

Find answers to the following questions after you have identified who your competitors are.

• What are your successful competitors doing?
• Why is what they are doing working?
• Can your business do it better?
• What are the weaknesses of your successful competitors?
• What are they not doing well?
• Can your business turn its weaknesses into strengths?
• How good is your competitors’ customer service?
• Where do your competitors invest in advertising?
• What sales and pricing strategies are they using?
• What marketing strategies are they using?
• What kind of press coverage do they get?
• What are their customers saying about your competitors (both the positive and negative)?

If your competitors have a website, it is a good idea to visit their websites for more competitors’ research. Check their “About Us” page for more information.

If you are presenting your business plan to investors, you need to clearly distinguish yourself from your competitors. Investors can easily tell when you have not properly researched your competitors.

Take time to think about what unique qualities or features set you apart from your competitors. If you do not have any direct competition offering your product to the market, it does not mean you leave out the competitor analysis section blank. Instead research on other companies that are providing a similar product, or whose product is solving the problem your product solves.

The next step is to create a table listing the top competitors you want to include in your business plan. Ensure you list your business as the last and on the right. What you just created is known as the competitor analysis table.

Direct vs Indirect Competition

You cannot know if your product or service will be a fit for your target market if you have not understood your business and the competitive landscape.

There is no market you want to target where you will not encounter competition, even if your product is innovative. Including competitive analysis in your business plan is essential.

If you are entering an established market, you need to explain how you plan to differentiate your products from the available options in the market. Also, include a list of few companies that you view as your direct competitors The competition you face in an established market is your direct competition.

In situations where you are entering a market with no direct competition, it does not mean there is no competition there. Consider your indirect competition that offers substitutes for the products or services you offer.

For example, if you sell an innovative SaaS product, let us say a project management software , a company offering time management software is your indirect competition.

There is an easy way to find out who your indirect competitors are in the absence of no direct competitors. You simply have to research how your potential customers are solving the problems that your product or service seeks to solve. That is your direct competition.

Factors that Differentiate Your Business from the Competition

There are three main factors that any business can use to differentiate itself from its competition. They are cost leadership, product differentiation, and market segmentation.

1. Cost Leadership

A strategy you can impose to maximize your profits and gain an edge over your competitors. It involves offering lower prices than what the majority of your competitors are offering.

A common practice among businesses looking to enter into a market where there are dominant players is to use free trials or pricing to attract as many customers as possible to their offer.

2. Product Differentiation

Your product or service should have a unique selling proposition (USP) that your competitors do not have or do not stress in their marketing.

Part of the marketing strategy should involve making your products unique and different from your competitors. It does not have to be different from your competitors, it can be the addition to a feature or benefit that your competitors do not currently have.

3. Market Segmentation

As a new business seeking to break into an industry, you will gain more success from focusing on a specific niche or target market, and not the whole industry.

If your competitors are focused on a general need or target market, you can differentiate yourself from them by having a small and hyper-targeted audience. For example, if your competitors are selling men’s clothes in their online stores , you can sell hoodies for men.

4. Define Your Business and Management Structure

The next step in your business plan is your business and management structure. It is the section where you describe the legal structure of your business and the team running it.

Your business is only as good as the management team that runs it, while the management team can only strive when there is a proper business and management structure in place.

If your company is a sole proprietor or a limited liability company (LLC), a general or limited partnership, or a C or an S corporation, state it clearly in this section.

Use an organizational chart to show the management structure in your business. Clearly show who is in charge of what area in your company. It is where you show how each key manager or team leader’s unique experience can contribute immensely to the success of your company. You can also opt to add the resumes and CVs of the key players in your company.

The business and management structure section should show who the owner is, and other owners of the businesses (if the business has other owners). For businesses or companies with multiple owners, include the percent ownership of the various owners and clearly show the extent of each others’ involvement in the company.

Investors want to know who is behind the company and the team running it to determine if it has the right management to achieve its set goals.

Management Team

The management team section is where you show that you have the right team in place to successfully execute the business operations and ideas. Take time to create the management structure for your business. Think about all the important roles and responsibilities that you need managers for to grow your business.

Include brief bios of each key team member and ensure you highlight only the relevant information that is needed. If your team members have background industry experience or have held top positions for other companies and achieved success while filling that role, highlight it in this section.

A common mistake that many startups make is assigning C-level titles such as (CMO and CEO) to everyone on their team. It is unrealistic for a small business to have those titles. While it may look good on paper for the ego of your team members, it can prevent investors from investing in your business.

Instead of building an unrealistic management structure that does not fit your business reality, it is best to allow business titles to grow as the business grows. Starting everyone at the top leaves no room for future change or growth, which is bad for productivity.

Your management team does not have to be complete before you start writing your business plan. You can have a complete business plan even when there are managerial positions that are empty and need filling.

If you have management gaps in your team, simply show the gaps and indicate you are searching for the right candidates for the role(s). Investors do not expect you to have a full management team when you are just starting your business.

Key Questions to Answer When Structuring Your Management Team

• Who are the key leaders?
• What experiences, skills, and educational backgrounds do you expect your key leaders to have?
• Do your key leaders have industry experience?
• What positions will they fill and what duties will they perform in those positions?
• What level of authority do the key leaders have and what are their responsibilities?
• What is the salary for the various management positions that will attract the ideal candidates?

Additional Tips for Writing the Management Structure Section

1. Avoid Adding ‘Ghost’ Names to Your Management Team

There is always that temptation to include a ‘ghost’ name to your management team to attract and influence investors to invest in your business. Although the presence of these celebrity management team members may attract the attention of investors, it can cause your business to lose any credibility if you get found out.

Seasoned investors will investigate further the members of your management team before committing fully to your business If they find out that the celebrity name used does not play any actual role in your business, they will not invest and may write you off as dishonest.

2. Focus on Credentials But Pay Extra Attention to the Roles

Investors want to know the experience that your key team members have to determine if they can successfully reach the company’s growth and financial goals.

While it is an excellent boost for your key management team to have the right credentials, you also want to pay extra attention to the roles they will play in your company.

Organizational Chart

Adding an organizational chart in this section of your business plan is not necessary, you can do it in your business plan’s appendix.

If you are exploring funding options, it is not uncommon to get asked for your organizational chart. The function of an organizational chart goes beyond raising money, you can also use it as a useful planning tool for your business.

An organizational chart can help you identify how best to structure your management team for maximum productivity and point you towards key roles you need to fill in the future.

You can use the organizational chart to show your company’s internal management structure such as the roles and responsibilities of your management team, and relationships that exist between them.

5. Describe Your Product and Service Offering

In your business plan, you have to describe what you sell or the service you plan to offer. It is the next step after defining your business and management structure. The products and services section is where you sell the benefits of your business.

Here you have to explain how your product or service will benefit your customers and describe your product lifecycle. It is also the section where you write down your plans for intellectual property like patent filings and copyrighting.

The research and development that you are undertaking for your product or service need to be explained in detail in this section. However, do not get too technical, sell the general idea and its benefits.

If you have any diagrams or intricate designs of your product or service, do not include them in the products and services section. Instead, leave them for the addendum page. Also, if you are leaving out diagrams or designs for the addendum, ensure you add this phrase “For more detail, visit the addendum Page #.”

Your product and service section in your business plan should include the following:

• A detailed explanation that clearly shows how your product or service works.
• The pricing model for your product or service.
• Your business’ sales and distribution strategy.
• The ideal customers that want your product or service.
• The benefits of your products and services.
• Reason(s) why your product or service is a better alternative to what your competitors are currently offering in the market.
• Plans for filling the orders you receive
• If you have current or pending patents, copyrights, and trademarks for your product or service, you can also discuss them in this section.

What to Focus On When Describing the Benefits, Lifecycle, and Production Process of Your Products or Services

In the products and services section, you have to distill the benefits, lifecycle, and production process of your products and services.

When describing the benefits of your products or services, here are some key factors to focus on.

• Unique features
• Translating the unique features into benefits
• The emotional, psychological, and practical payoffs to attract customers
• Intellectual property rights or any patents

When describing the product life cycle of your products or services, here are some key factors to focus on.

• Upsells, cross-sells, and down-sells
• Time between purchases
• Plans for research and development.

When describing the production process for your products or services, you need to think about the following:

• The creation of new or existing products and services.
• The sources for the raw materials or components you need for production.
• Assembling the products
• Maintaining quality control
• Supply-chain logistics (receiving the raw materials and delivering the finished products)
• The day-to-day management of the production processes, bookkeeping, and inventory.

Tips for Writing the Products or Services Section of Your Business Plan

1. Avoid Technical Descriptions and Industry Buzzwords

The products and services section of your business plan should clearly describe the products and services that your company provides. However, it is not a section to include technical jargons that anyone outside your industry will not understand.

A good practice is to remove highly detailed or technical descriptions in favor of simple terms. Industry buzzwords are not necessary, if there are simpler terms you can use, then use them. If you plan to use your business plan to source funds, making the product or service section so technical will do you no favors.

2. Describe How Your Products or Services Differ from Your Competitors

When potential investors look at your business plan, they want to know how the products and services you are offering differ from that of your competition. Differentiating your products or services from your competition in a way that makes your solution more attractive is critical.

If you are going the innovative path and there is no market currently for your product or service, you need to describe in this section why the market needs your product or service.

For example, overnight delivery was a niche business that only a few companies were participating in. Federal Express (FedEx) had to show in its business plan that there was a large opportunity for that service and they justified why the market needed that service.

3. Long or Short Products or Services Section

Should your products or services section be short? Does the long products or services section attract more investors?

There are no straightforward answers to these questions. Whether your products or services section should be long or relatively short depends on the nature of your business.

If your business is product-focused, then automatically you need to use more space to describe the details of your products. However, if the product your business sells is a commodity item that relies on competitive pricing or other pricing strategies, you do not have to use up so much space to provide significant details about the product.

Likewise, if you are selling a commodity that is available in numerous outlets, then you do not have to spend time on writing a long products or services section.

The key to the success of your business is most likely the effectiveness of your marketing strategies compared to your competitors. Use more space to address that section.

If you are creating a new product or service that the market does not know about, your products or services section can be lengthy. The reason why is because you need to explain everything about the product or service such as the nature of the product, its use case, and values.

A short products or services section for an innovative product or service will not give the readers enough information to properly evaluate your business.

4. Describe Your Relationships with Vendors or Suppliers

Your business will rely on vendors or suppliers to supply raw materials or the components needed to make your products. In your products and services section, describe your relationships with your vendors and suppliers fully.

Avoid the mistake of relying on only one supplier or vendor. If that supplier or vendor fails to supply or goes out of business, you can easily face supply problems and struggle to meet your demands. Plan to set up multiple vendor or supplier relationships for better business stability.

5. Your Primary Goal Is to Convince Your Readers

The primary goal of your business plan is to convince your readers that your business is viable and to create a guide for your business to follow. It applies to the products and services section.

When drafting this section, think like the reader. See your reader as someone who has no idea about your products and services. You are using the products and services section to provide the needed information to help your reader understand your products and services. As a result, you have to be clear and to the point.

While you want to educate your readers about your products or services, you also do not want to bore them with lots of technical details. Show your products and services and not your fancy choice of words.

Your products and services section should provide the answer to the “what” question for your business. You and your management team may run the business, but it is your products and services that are the lifeblood of the business.

Key Questions to Answer When Writing your Products and Services Section

Answering these questions can help you write your products and services section quickly and in a way that will appeal to your readers.

• Are your products existing on the market or are they still in the development stage?
• What is your timeline for adding new products and services to the market?
• What are the positives that make your products and services different from your competitors?
• Do your products and services have any competitive advantage that your competitors’ products and services do not currently have?
• Do your products or services have any competitive disadvantages that you need to overcome to compete with your competitors? If your answer is yes, state how you plan to overcome them,
• How much does it cost to produce your products or services? How much do you plan to sell it for?
• What is the price for your products and services compared to your competitors? Is pricing an issue?
• What are your operating costs and will it be low enough for you to compete with your competitors and still take home a reasonable profit margin?
• What is your plan for acquiring your products? Are you involved in the production of your products or services?
• Are you the manufacturer and produce all the components you need to create your products? Do you assemble your products by using components supplied by other manufacturers? Do you purchase your products directly from suppliers or wholesalers?
• Do you have a steady supply of products that you need to start your business? (If your business is yet to kick-off)
• How do you plan to distribute your products or services to the market?

You can also hint at the marketing or promotion plans you have for your products or services such as how you plan to build awareness or retain customers. The next section is where you can go fully into details about your business’s marketing and sales plan.

6. Show and Explain Your Marketing and Sales Plan

Providing great products and services is wonderful, but it means nothing if you do not have a marketing and sales plan to inform your customers about them. Your marketing and sales plan is critical to the success of your business.

The sales and marketing section is where you show and offer a detailed explanation of your marketing and sales plan and how you plan to execute it. It covers your pricing plan, proposed advertising and promotion activities, activities and partnerships you need to make your business a success, and the benefits of your products and services.

There are several ways you can approach your marketing and sales strategy. Ideally, your marketing and sales strategy has to fit the unique needs of your business.

In this section, you describe how the plans your business has for attracting and retaining customers, and the exact process for making a sale happen. It is essential to thoroughly describe your complete marketing and sales plans because you are still going to reference this section when you are making financial projections for your business.

Outline Your Business’ Unique Selling Proposition (USP)

The sales and marketing section is where you outline your business’s unique selling proposition (USP). When you are developing your unique selling proposition, think about the strongest reasons why people should buy from you over your competition. That reason(s) is most likely a good fit to serve as your unique selling proposition (USP).

Target Market and Target Audience

Plans on how to get your products or services to your target market and how to get your target audience to buy them go into this section. You also highlight the strengths of your business here, particularly what sets them apart from your competition.

Before you start writing your marketing and sales plan, you need to have properly defined your target audience and fleshed out your buyer persona. If you do not first understand the individual you are marketing to, your marketing and sales plan will lack any substance and easily fall.

Creating a Smart Marketing and Sales Plan

Marketing your products and services is an investment that requires you to spend money. Like any other investment, you have to generate a good return on investment (ROI) to justify using that marketing and sales plan. Good marketing and sales plans bring in high sales and profits to your company.

Avoid spending money on unproductive marketing channels. Do your research and find out the best marketing and sales plan that works best for your company.

Your marketing and sales plan can be broken into different parts: your positioning statement, pricing, promotion, packaging, advertising, public relations, content marketing, social media, and strategic alliances.

Your Positioning Statement

Your positioning statement is the first part of your marketing and sales plan. It refers to the way you present your company to your customers.

Are you the premium solution, the low-price solution, or are you the intermediary between the two extremes in the market? What do you offer that your competitors do not that can give you leverage in the market?

Before you start writing your positioning statement, you need to spend some time evaluating the current market conditions. Here are some questions that can help you to evaluate the market

• What are the unique features or benefits that you offer that your competitors lack?
• What are your customers’ primary needs and wants?
• Why should a customer choose you over your competition? How do you plan to differentiate yourself from the competition?
• How does your company’s solution compare with other solutions in the market?

After answering these questions, then you can start writing your positioning statement. Your positioning statement does not have to be in-depth or too long.

All you need to explain with your positioning statement are two focus areas. The first is the position of your company within the competitive landscape. The other focus area is the core value proposition that sets your company apart from other alternatives that your ideal customer might consider.

Here is a simple template you can use to develop a positioning statement.

For [description of target market] who [need of target market], [product or service] [how it meets the need]. Unlike [top competition], it [most essential distinguishing feature].

For example, let’s create the positioning statement for fictional accounting software and QuickBooks alternative , TBooks.

“For small business owners who need accounting services, TBooks is an accounting software that helps small businesses handle their small business bookkeeping basics quickly and easily. Unlike Wave, TBooks gives small businesses access to live sessions with top accountants.”

You can edit this positioning statement sample and fill it with your business details.

After writing your positioning statement, the next step is the pricing of your offerings. The overall positioning strategy you set in your positioning statement will often determine how you price your products or services.

Pricing is a powerful tool that sends a strong message to your customers. Failure to get your pricing strategy right can make or mar your business. If you are targeting a low-income audience, setting a premium price can result in low sales.

You can use pricing to communicate your positioning to your customers. For example, if you are offering a product at a premium price, you are sending a message to your customers that the product belongs to the premium category.

Basic Rules to Follow When Pricing Your Offering

Setting a price for your offering involves more than just putting a price tag on it. Deciding on the right pricing for your offering requires following some basic rules. They include covering your costs, primary and secondary profit center pricing, and matching the market rate.

• Covering Your Costs: The price you set for your products or service should be more than it costs you to produce and deliver them. Every business has the same goal, to make a profit. Depending on the strategy you want to use, there are exceptions to this rule. However, the vast majority of businesses follow this rule.
• Primary and Secondary Profit Center Pricing: When a company sets its price above the cost of production, it is making that product its primary profit center. A company can also decide not to make its initial price its primary profit center by selling below or at even with its production cost. It rather depends on the support product or even maintenance that is associated with the initial purchase to make its profit. The initial price thus became its secondary profit center.
• Matching the Market Rate: A good rule to follow when pricing your products or services is to match your pricing with consumer demand and expectations. If you price your products or services beyond the price your customer perceives as the ideal price range, you may end up with no customers. Pricing your products too low below what your customer perceives as the ideal price range may lead to them undervaluing your offering.

Pricing Strategy

Your pricing strategy influences the price of your offering. There are several pricing strategies available for you to choose from when examining the right pricing strategy for your business. They include cost-plus pricing, market-based pricing, value pricing, and more.

• Cost-plus Pricing: This strategy is one of the simplest and oldest pricing strategies. Here you consider the cost of producing a unit of your product and then add a profit to it to arrive at your market price. It is an effective pricing strategy for manufacturers because it helps them cover their initial costs. Another name for the cost-plus pricing strategy is the markup pricing strategy.
• Market-based Pricing: This pricing strategy analyses the market including competitors’ pricing and then sets a price based on what the market is expecting. With this pricing strategy, you can either set your price at the low-end or high-end of the market.
• Value Pricing: This pricing strategy involves setting a price based on the value you are providing to your customer. When adopting a value-based pricing strategy, you have to set a price that your customers are willing to pay. Service-based businesses such as small business insurance providers , luxury goods sellers, and the fashion industry use this pricing strategy.

After carefully sorting out your positioning statement and pricing, the next item to look at is your promotional strategy. Your promotional strategy explains how you plan on communicating with your customers and prospects.

As a business, you must measure all your costs, including the cost of your promotions. You also want to measure how much sales your promotions bring for your business to determine its usefulness. Promotional strategies or programs that do not lead to profit need to be removed.

There are different types of promotional strategies you can adopt for your business, they include advertising, public relations, and content marketing.

Advertising

Your business plan should include your advertising plan which can be found in the marketing and sales plan section. You need to include an overview of your advertising plans such as the areas you plan to spend money on to advertise your business and offers.

Ensure that you make it clear in this section if your business will be advertising online or using the more traditional offline media, or the combination of both online and offline media. You can also include the advertising medium you want to use to raise awareness about your business and offers.

Some common online advertising mediums you can use include social media ads, landing pages, sales pages, SEO, Pay-Per-Click, emails, Google Ads, and others. Some common traditional and offline advertising mediums include word of mouth, radios, direct mail, televisions, flyers, billboards, posters, and others.

A key component of your advertising strategy is how you plan to measure the effectiveness and success of your advertising campaign. There is no point in sticking with an advertising plan or medium that does not produce results for your business in the long run.

Public Relations

A great way to reach your customers is to get the media to cover your business or product. Publicity, especially good ones, should be a part of your marketing and sales plan. In this section, show your plans for getting prominent reviews of your product from reputable publications and sources.

Your business needs that exposure to grow. If public relations is a crucial part of your promotional strategy, provide details about your public relations plan here.

Content Marketing

Content marketing is a popular promotional strategy used by businesses to inform and attract their customers. It is about teaching and educating your prospects on various topics of interest in your niche, it does not just involve informing them about the benefits and features of the products and services you have,

Businesses publish content usually for free where they provide useful information, tips, and advice so that their target market can be made aware of the importance of their products and services. Content marketing strategies seek to nurture prospects into buyers over time by simply providing value.

Your company can create a blog where it will be publishing content for its target market. You will need to use the best website builder such as Wix and Squarespace and the best web hosting services such as Bluehost, Hostinger, and other Bluehost alternatives to create a functional blog or website.

If content marketing is a crucial part of your promotional strategy (as it should be), detail your plans under promotions.

Including high-quality images of the packaging of your product in your business plan is a lovely idea. You can add the images of the packaging of that product in the marketing and sales plan section. If you are not selling a product, then you do not need to include any worry about the physical packaging of your product.

When organizing the packaging section of your business plan, you can answer the following questions to make maximum use of this section.

• Is your choice of packaging consistent with your positioning strategy?
• What key value proposition does your packaging communicate? (It should reflect the key value proposition of your business)
• How does your packaging compare to that of your competitors?

Social Media

Your 21st-century business needs to have a good social media presence. Not having one is leaving out opportunities for growth and reaching out to your prospect.

You do not have to join the thousands of social media platforms out there. What you need to do is join the ones that your customers are active on and be active there.

Businesses use social media to provide information about their products such as promotions, discounts, the benefits of their products, and content on their blogs.

Social media is also a platform for engaging with your customers and getting feedback about your products or services. Make no mistake, more and more of your prospects are using social media channels to find more information about companies.

You need to consider the social media channels you want to prioritize your business (prioritize the ones your customers are active in) and your branding plans in this section.

Strategic Alliances

If your company plans to work closely with other companies as part of your sales and marketing plan, include it in this section. Prove details about those partnerships in your business plan if you have already established them.

Strategic alliances can be beneficial for all parties involved including your company. Working closely with another company in the form of a partnership can provide access to a different target market segment for your company.

The company you are partnering with may also gain access to your target market or simply offer a new product or service (that of your company) to its customers.

Mutually beneficial partnerships can cover the weaknesses of one company with the strength of another. You should consider strategic alliances with companies that sell complimentary products to yours. For example, if you provide printers, you can partner with a company that produces ink since the customers that buy printers from you will also need inks for printing.

Steps Involved in Creating a Marketing and Sales Plan

1. Focus on Your Target Market

Identify who your customers are, the market you want to target. Then determine the best ways to get your products or services to your potential customers.

2. Evaluate Your Competition

One of the goals of having a marketing plan is to distinguish yourself from your competition. You cannot stand out from them without first knowing them in and out.

You can know your competitors by gathering information about their products, pricing, service, and advertising campaigns.

These questions can help you know your competition.

• What makes your competition successful?
• What are their weaknesses?
• What are customers saying about your competition?

3. Consider Your Brand

Customers' perception of your brand has a strong impact on your sales. Your marketing and sales plan should seek to bolster the image of your brand. Before you start marketing your business, think about the message you want to pass across about your business and your products and services.

4. Focus on Benefits

The majority of your customers do not view your product in terms of features, what they want to know is the benefits and solutions your product offers. Think about the problems your product solves and the benefits it delivers, and use it to create the right sales and marketing message.

Your marketing plan should focus on what you want your customer to get instead of what you provide. Identify those benefits in your marketing and sales plan.

5. Focus on Differentiation

Your marketing and sales plan should look for a unique angle they can take that differentiates your business from the competition, even if the products offered are similar. Some good areas of differentiation you can use are your benefits, pricing, and features.

Key Questions to Answer When Writing Your Marketing and Sales Plan

• What is your company’s budget for sales and marketing campaigns?
• What key metrics will you use to determine if your marketing plans are successful?
• What are your alternatives if your initial marketing efforts do not succeed?
• Who are the sales representatives you need to promote your products or services?
• What are the marketing and sales channels you plan to use? How do you plan to get your products in front of your ideal customers?
• Where will you sell your products?

You may want to include samples of marketing materials you plan to use such as print ads, website descriptions, and social media ads. While it is not compulsory to include these samples, it can help you better communicate your marketing and sales plan and objectives.

The purpose of the marketing and sales section is to answer this question “How will you reach your customers?” If you cannot convincingly provide an answer to this question, you need to rework your marketing and sales section.

7. Clearly Show Your Funding Request

If you are writing your business plan to ask for funding from investors or financial institutions, the funding request section is where you will outline your funding requirements. The funding request section should answer the question ‘How much money will your business need in the near future (3 to 5 years)?’

A good funding request section will clearly outline and explain the amount of funding your business needs over the next five years. You need to know the amount of money your business needs to make an accurate funding request.

Also, when writing your funding request, provide details of how the funds will be used over the period. Specify if you want to use the funds to buy raw materials or machinery, pay salaries, pay for advertisements, and cover specific bills such as rent and electricity.

In addition to explaining what you want to use the funds requested for, you need to clearly state the projected return on investment (ROI) . Investors and creditors want to know if your business can generate profit for them if they put funds into it.

Ensure you do not inflate the figures and stay as realistic as possible. Investors and financial institutions you are seeking funds from will do their research before investing money in your business.

If you are not sure of an exact number to request from, you can use some range of numbers as rough estimates. Add a best-case scenario and a work-case scenario to your funding request. Also, include a description of your strategic future financial plans such as selling your business or paying off debts.

Funding Request: Debt or Equity?

When making your funding request, specify the type of funding you want. Do you want debt or equity? Draw out the terms that will be applicable for the funding, and the length of time the funding request will cover.

Case for Equity

If your new business has not yet started generating profits, you are most likely preparing to sell equity in your business to raise capital at the early stage. Equity here refers to ownership. In this case, you are selling a portion of your company to raise capital.

Although this method of raising capital for your business does not put your business in debt, keep in mind that an equity owner may expect to play a key role in company decisions even if he does not hold a major stake in the company.

Most equity sales for startups are usually private transactions . If you are making a funding request by offering equity in exchange for funding, let the investor know that they will be paid a dividend (a share of the company’s profit). Also, let the investor know the process for selling their equity in your business.

Case for Debt

You may decide not to offer equity in exchange for funds, instead, you make a funding request with the promise to pay back the money borrowed at the agreed time frame.

When making a funding request with an agreement to pay back, note that you will have to repay your creditors both the principal amount borrowed and the interest on it. Financial institutions offer this type of funding for businesses.

Large companies combine both equity and debt in their capital structure. When drafting your business plan, decide if you want to offer both or one over the other.

Before you sell equity in exchange for funding in your business, consider if you are willing to accept not being in total control of your business. Also, before you seek loans in your funding request section, ensure that the terms of repayment are favorable.

You should set a clear timeline in your funding request so that potential investors and creditors can know what you are expecting. Some investors and creditors may agree to your funding request and then delay payment for longer than 30 days, meanwhile, your business needs an immediate cash injection to operate efficiently.

Additional Tips for Writing the Funding Request Section of your Business Plan

The funding request section is not necessary for every business, it is only needed by businesses who plan to use their business plan to secure funding.

If you are adding the funding request section to your business plan, provide an itemized summary of how you plan to use the funds requested. Hiring a lawyer, accountant, or other professionals may be necessary for the proper development of this section.

You should also gather and use financial statements that add credibility and support to your funding requests. Ensure that the financial statements you use should include your projected financial data such as projected cash flows, forecast statements, and expenditure budgets.

If you are an existing business, include all historical financial statements such as cash flow statements, balance sheets and income statements .

Provide monthly and quarterly financial statements for a year. If your business has records that date back beyond the one-year mark, add the yearly statements of those years. These documents are for the appendix section of your business plan.

8. Detail Your Financial Plan, Metrics, and Projections

If you used the funding request section in your business plan, supplement it with a financial plan, metrics, and projections. This section paints a picture of the past performance of your business and then goes ahead to make an informed projection about its future.

The goal of this section is to convince readers that your business is going to be a financial success. It outlines your business plan to generate enough profit to repay the loan (with interest if applicable) and to generate a decent return on investment for investors.

If you have an existing business already in operation, use this section to demonstrate stability through finance. This section should include your cash flow statements, balance sheets, and income statements covering the last three to five years. If your business has some acceptable collateral that you can use to acquire loans, list it in the financial plan, metrics, and projection section.

Apart from current financial statements, this section should also contain a prospective financial outlook that spans the next five years. Include forecasted income statements, cash flow statements, balance sheets, and capital expenditure budget.

If your business is new and is not yet generating profit, use clear and realistic projections to show the potentials of your business.

When drafting this section, research industry norms and the performance of comparable businesses. Your financial projections should cover at least five years. State the logic behind your financial projections. Remember you can always make adjustments to this section as the variables change.

The financial plan, metrics, and projection section create a baseline which your business can either exceed or fail to reach. If your business fails to reach your projections in this section, you need to understand why it failed.

Investors and loan managers spend a lot of time going through the financial plan, metrics, and projection section compared to other parts of the business plan. Ensure you spend time creating credible financial analyses for your business in this section.

Many entrepreneurs find this section daunting to write. You do not need a business degree to create a solid financial forecast for your business. Business finances, especially for startups, are not as complicated as they seem. There are several online tools and templates that make writing this section so much easier.

Use Graphs and Charts

The financial plan, metrics, and projection section is a great place to use graphs and charts to tell the financial story of your business. Charts and images make it easier to communicate your finances.

Accuracy in this section is key, ensure you carefully analyze your past financial statements properly before making financial projects.

Address the Risk Factors and Show Realistic Financial Projections

Keep your financial plan, metrics, and projection realistic. It is okay to be optimistic in your financial projection, however, you have to justify it.

You should also address the various risk factors associated with your business in this section. Investors want to know the potential risks involved, show them. You should also show your plans for mitigating those risks.

What You Should In The Financial Plan, Metrics, and Projection Section of Your Business Plan

The financial plan, metrics, and projection section of your business plan should have monthly sales and revenue forecasts for the first year. It should also include annual projections that cover 3 to 5 years.

A three-year projection is a basic requirement to have in your business plan. However, some investors may request a five-year forecast.

Your business plan should include the following financial statements: sales forecast, personnel plan, income statement, income statement, cash flow statement, balance sheet, and an exit strategy.

1. Sales Forecast

Sales forecast refers to your projections about the number of sales your business is going to record over the next few years. It is typically broken into several rows, with each row assigned to a core product or service that your business is offering.

One common mistake people make in their business plan is to break down the sales forecast section into long details. A sales forecast should forecast the high-level details.

For example, if you are forecasting sales for a payroll software provider, you could break down your forecast into target market segments or subscription categories.

Your sales forecast section should also have a corresponding row for each sales row to cover the direct cost or Cost of Goods Sold (COGS). The objective of these rows is to show the expenses that your business incurs in making and delivering your product or service.

Note that your Cost of Goods Sold (COGS) should only cover those direct costs incurred when making your products. Other indirect expenses such as insurance, salaries, payroll tax, and rent should not be included.

For example, the Cost of Goods Sold (COGS) for a restaurant is the cost of ingredients while for a consulting company it will be the cost of paper and other presentation materials.

2. Personnel Plan

The personnel plan section is where you provide details about the payment plan for your employees. For a small business, you can easily list every position in your company and how much you plan to pay in the personnel plan.

However, for larger businesses, you have to break the personnel plan into functional groups such as sales and marketing.

The personnel plan will also include the cost of an employee beyond salary, commonly referred to as the employee burden. These costs include insurance, payroll taxes , and other essential costs incurred monthly as a result of having employees on your payroll.

3. Income Statement

The income statement section shows if your business is making a profit or taking a loss. Another name for the income statement is the profit and loss (P&L). It takes data from your sales forecast and personnel plan and adds other ongoing expenses you incur while running your business.

Every business plan should have an income statement. It subtracts your business expenses from its earnings to show if your business is generating profit or incurring losses.

The income statement has the following items: sales, Cost of Goods Sold (COGS), gross margin, operating expenses, total operating expenses, operating income , total expenses, and net profit.

• Sales refer to the revenue your business generates from selling its products or services. Other names for sales are income or revenue.
• Cost of Goods Sold (COGS) refers to the total cost of selling your products. Other names for COGS are direct costs or cost of sales. Manufacturing businesses use the Costs of Goods Manufactured (COGM) .
• Gross Margin is the figure you get when you subtract your COGS from your sales. In your income statement, you can express it as a percentage of total sales (Gross margin / Sales = Gross Margin Percent).
• Operating Expenses refer to all the expenses you incur from running your business. It exempts the COGS because it stands alone as a core part of your income statement. You also have to exclude taxes, depreciation, and amortization. Your operating expenses include salaries, marketing expenses, research and development (R&D) expenses, and other expenses.
• Total Operating Expenses refers to the sum of all your operating expenses including those exemptions named above under operating expenses.
• Operating Income refers to earnings before interest, taxes, depreciation, and amortization. It is simply known as the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization). Calculating your operating income is simple, all you need to do is to subtract your COGS and total operating expenses from your sales.
• Total Expenses refer to the sum of your operating expenses and your business’ interest, taxes, depreciation, and amortization.
• Net profit shows whether your business has made a profit or taken a loss during a given timeframe.

4. Cash Flow Statement

The cash flow statement tracks the money you have in the bank at any given point. It is often confused with the income statement or the profit and loss statement. They are both different types of financial statements. The income statement calculates your profits and losses while the cash flow statement shows you how much you have in the bank.

5. Balance Sheet

The balance sheet is a financial statement that provides an overview of the financial health of your business. It contains information about the assets and liabilities of your company, and owner’s or shareholders’ equity.

You can get the net worth of your company by subtracting your company’s liabilities from its assets.

6. Exit Strategy

The exit strategy refers to a probable plan for selling your business either to the public in an IPO or to another company. It is the last thing you include in the financial plan, metrics, and projection section.

You can choose to omit the exit strategy from your business plan if you plan to maintain full ownership of your business and do not plan on seeking angel investment or virtual capitalist (VC) funding.

Investors may want to know what your exit plan is. They invest in your business to get a good return on investment.

Your exit strategy does not have to include long and boring details. Ensure you identify some interested parties who may be interested in buying the company if it becomes a success.

Key Questions to Answer with Your Financial Plan, Metrics, and Projection

Your financial plan, metrics, and projection section helps investors, creditors, or your internal managers to understand what your expenses are, the amount of cash you need, and what it takes to make your company profitable. It also shows what you will be doing with any funding.

You do not need to show actual financial data if you do not have one. Adding forecasts and projections to your financial statements is added proof that your strategy is feasible and shows investors you have planned properly.

Here are some key questions to answer to help you develop this section.

• What is your sales forecast for the next year?
• When will your company achieve a positive cash flow?
• What are the core expenses you need to operate?
• How much money do you need upfront to operate or grow your company?
• How will you use the loans or investments?

9. Add an Appendix to Your Business Plan

Adding an appendix to your business plan is optional. It is a useful place to put any charts, tables, legal notes, definitions, permits, résumés, and other critical information that do not fit into other sections of your business plan.

The appendix section is where you would want to include details of a patent or patent-pending if you have one. You can always add illustrations or images of your products here. It is the last section of your business plan.

When writing your business plan, there are details you cut short or remove to prevent the entire section from becoming too lengthy. There are also details you want to include in the business plan but are not a good fit for any of the previous sections. You can add that additional information to the appendix section.

Businesses also use the appendix section to include supporting documents or other materials specially requested by investors or lenders.

You can include just about any information that supports the assumptions and statements you made in the business plan under the appendix. It is the one place in the business plan where unrelated data and information can coexist amicably.

If your appendix section is lengthy, try organizing it by adding a table of contents at the beginning of the appendix section. It is also advisable to group similar information to make it easier for the reader to access them.

A well-organized appendix section makes it easier to share your information clearly and concisely. Add footnotes throughout the rest of the business plan or make references in the plan to the documents in the appendix.

The appendix section is usually only necessary if you are seeking funding from investors or lenders, or hoping to attract partners.

People reading business plans do not want to spend time going through a heap of backup information, numbers, and charts. Keep these documents or information in the Appendix section in case the reader wants to dig deeper.

Common Items to Include in the Appendix Section of Your Business Plan

The appendix section includes documents that supplement or support the information or claims given in other sections of the business plans. Common items you can include in the appendix section include:

• Additional data about the process of manufacturing or creation
• Additional description of products or services such as product schematics
• Additional financial documents or projections
• Articles of incorporation and status
• Backup for market research or competitive analysis
• Bank statements
• Business registries
• Client testimonials (if your business is already running)
• Copies of insurances
• Credit histories (personal or/and business)
• Deeds and permits
• Equipment leases
• Examples of marketing and advertising collateral
• Industry associations and memberships
• Images of product
• Intellectual property
• Key customer contracts
• Legal documents and other contracts
• Letters of reference
• Links to references
• Market research data
• Organizational charts
• Photographs of potential facilities
• Professional licenses pertaining to your legal structure or type of business
• Purchase orders
• Resumes of the founder(s) and key managers
• State and federal identification numbers or codes
• Trademarks or patents’ registrations

Avoid using the appendix section as a place to dump any document or information you feel like adding. Only add documents or information that you support or increase the credibility of your business plan.

Tips and Strategies for Writing a Convincing Business Plan

To achieve a perfect business plan, you need to consider some key tips and strategies. These tips will raise the efficiency of your business plan above average.

1. Know Your Audience

When writing a business plan, you need to know your audience . Business owners write business plans for different reasons. Your business plan has to be specific. For example, you can write business plans to potential investors, banks, and even fellow board members of the company.

The audience you are writing to determines the structure of the business plan. As a business owner, you have to know your audience. Not everyone will be your audience. Knowing your audience will help you to narrow the scope of your business plan.

Consider what your audience wants to see in your projects, the likely questions they might ask, and what interests them.

• A business plan used to address a company's board members will center on its employment schemes, internal affairs, projects, stakeholders, etc.
• A business plan for financial institutions will talk about the size of your market and the chances for you to pay back any loans you demand.
• A business plan for investors will show proof that you can return the investment capital within a specific time. In addition, it discusses your financial projections, tractions, and market size.

2. Get Inspiration from People

Writing a business plan from scratch as an entrepreneur can be daunting. That is why you need the right inspiration to push you to write one. You can gain inspiration from the successful business plans of other businesses. Look at their business plans, the style they use, the structure of the project, etc.

To make your business plan easier to create, search companies related to your business to get an exact copy of what you need to create an effective business plan. You can also make references while citing examples in your business plans.

When drafting your business plan, get as much help from others as you possibly can. By getting inspiration from people, you can create something better than what they have.

3. Avoid Being Over Optimistic

Many business owners make use of strong adjectives to qualify their content. One of the big mistakes entrepreneurs make when preparing a business plan is promising too much.

The use of superlatives and over-optimistic claims can prepare the audience for more than you can offer. In the end, you disappoint the confidence they have in you.

In most cases, the best option is to be realistic with your claims and statistics. Most of the investors can sense a bit of incompetency from the overuse of superlatives. As a new entrepreneur, do not be tempted to over-promise to get the interests of investors.

The concept of entrepreneurship centers on risks, nothing is certain when you make future analyses. What separates the best is the ability to do careful research and work towards achieving that, not promising more than you can achieve.

To make an excellent first impression as an entrepreneur, replace superlatives with compelling data-driven content. In this way, you are more specific than someone promising a huge ROI from an investment.

4. Keep it Simple and Short

When writing business plans, ensure you keep them simple throughout. Irrespective of the purpose of the business plan, your goal is to convince the audience.

One way to achieve this goal is to make them understand your proposal. Therefore, it would be best if you avoid the use of complex grammar to express yourself. It would be a huge turn-off if the people you want to convince are not familiar with your use of words.

Another thing to note is the length of your business plan. It would be best if you made it as brief as possible.

You hardly see investors or agencies that read through an extremely long document. In that case, if your first few pages can’t convince them, then you have lost it. The more pages you write, the higher the chances of you derailing from the essential contents.

To ensure your business plan has a high conversion rate, you need to dispose of every unnecessary information. For example, if you have a strategy that you are not sure of, it would be best to leave it out of the plan.

5. Make an Outline and Follow Through

A perfect business plan must have touched every part needed to convince the audience. Business owners get easily tempted to concentrate more on their products than on other sections. Doing this can be detrimental to the efficiency of the business plan.

For example, imagine you talking about a product but omitting or providing very little information about the target audience. You will leave your clients confused.

To ensure that your business plan communicates your full business model to readers, you have to input all the necessary information in it. One of the best ways to achieve this is to design a structure and stick to it.

This structure is what guides you throughout the writing. To make your work easier, you can assign an estimated word count or page limit to every section to avoid making it too bulky for easy reading. As a guide, the necessary things your business plan must contain are:

• Table of contents
• Introduction
• Product or service description
• Target audience
• Market size
• Competition analysis
• Financial projections

Some specific businesses can include some other essential sections, but these are the key sections that must be in every business plan.

6. Ask a Professional to Proofread

When writing a business plan, you must tie all loose ends to get a perfect result. When you are done with writing, call a professional to go through the document for you. You are bound to make mistakes, and the way to correct them is to get external help.

You should get a professional in your field who can relate to every section of your business plan. It would be easier for the professional to notice the inner flaws in the document than an editor with no knowledge of your business.

In addition to getting a professional to proofread, get an editor to proofread and edit your document. The editor will help you identify grammatical errors, spelling mistakes, and inappropriate writing styles.

Writing a business plan can be daunting, but you can surmount that obstacle and get the best out of it with these tips.

Business Plan Examples and Templates That’ll Save You Tons of Time

1. hubspot's one-page business plan.

The one-page business plan template by HubSpot is the perfect guide for businesses of any size, irrespective of their business strategy. Although the template is condensed into a page, your final business plan should not be a page long! The template is designed to ask helpful questions that can help you develop your business plan.

Hubspot’s one-page business plan template is divided into nine fields:

• Business opportunity
• Company description
• Industry analysis
• Target market
• Implementation timeline
• Marketing plan
• Financial summary
• Funding required

2. Bplan’s Free Business Plan Template

Bplans' free business plan template is investor-approved. It is a rich template used by prestigious educational institutions such as Babson College and Princeton University to teach entrepreneurs how to create a business plan.

The template has six sections: the executive summary, opportunity, execution, company, financial plan, and appendix. There is a step-by-step guide for writing every little detail in the business plan. Follow the instructions each step of the way and you will create a business plan that impresses investors or lenders easily.

3. HubSpot's Downloadable Business Plan Template

HubSpot’s downloadable business plan template is a more comprehensive option compared to the one-page business template by HubSpot. This free and downloadable business plan template is designed for entrepreneurs.

The template is a comprehensive guide and checklist for business owners just starting their businesses. It tells you everything you need to fill in each section of the business plan and how to do it.

There are nine sections in this business plan template: an executive summary, company and business description, product and services line, market analysis, marketing plan, sales plan, legal notes, financial considerations, and appendix.

4. Business Plan by My Own Business Institute

My Own Business Institute (MOBI) which is a part of Santa Clara University's Center for Innovation and Entrepreneurship offers a free business plan template. You can either copy the free business template from the link provided above or download it as a Word document.

The comprehensive template consists of a whopping 15 sections.

• The Business Profile
• The Vision and the People
• Home-Based Business and Freelance Business Opportunities
• Organization
• Licenses and Permits
• Business Insurance
• Communication Tools
• Acquisitions
• Location and Leasing
• Accounting and Cash Flow
• Opening and Marketing
• Managing Employees
• Expanding and Handling Problems

There are lots of helpful tips on how to fill each section in the free business plan template by MOBI.

5. Score's Business Plan Template for Startups

Score is an American nonprofit organization that helps entrepreneurs build successful companies. This business plan template for startups by Score is available for free download. The business plan template asks a whooping 150 generic questions that help entrepreneurs from different fields to set up the perfect business plan.

The business plan template for startups contains clear instructions and worksheets, all you have to do is answer the questions and fill the worksheets.

There are nine sections in the business plan template: executive summary, company description, products and services, marketing plan, operational plan, management and organization, startup expenses and capitalization, financial plan, and appendices.

The ‘refining the plan’ resource contains instructions that help you modify your business plan to suit your specific needs, industry, and target audience. After you have completed Score’s business plan template, you can work with a SCORE mentor for expert advice in business planning.

6. Minimalist Architecture Business Plan Template by Venngage

The minimalist architecture business plan template is a simple template by Venngage that you can customize to suit your business needs .

There are five sections in the template: an executive summary, statement of problem, approach and methodology, qualifications, and schedule and benchmark. The business plan template has instructions that guide users on what to fill in each section.

7. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers two free business plan templates, filled with practical real-life examples that you can model to create your business plan. Both free business plan templates are written by fictional business owners: Rebecca who owns a consulting firm, and Andrew who owns a toy company.

There are five sections in the two SBA’s free business plan templates.

• Executive Summary
• Company Description
• Service Line
• Marketing and Sales

8. The $100 Startup's One-Page Business Plan

The one-page business plan by the $100 startup is a simple business plan template for entrepreneurs who do not want to create a long and complicated plan . You can include more details in the appendices for funders who want more information beyond what you can put in the one-page business plan.

There are five sections in the one-page business plan such as overview, ka-ching, hustling, success, and obstacles or challenges or open questions. You can answer all the questions using one or two sentences.

9. PandaDoc’s Free Business Plan Template

The free business plan template by PandaDoc is a comprehensive 15-page document that describes the information you should include in every section.

There are 11 sections in PandaDoc’s free business plan template.

• Executive summary
• Business description
• Products and services
• Operations plan
• Management organization
• Financial plan
• Conclusion / Call to action
• Confidentiality statement

You have to sign up for its 14-day free trial to access the template. You will find different business plan templates on PandaDoc once you sign up (including templates for general businesses and specific businesses such as bakeries, startups, restaurants, salons, hotels, and coffee shops)

PandaDoc allows you to customize its business plan templates to fit the needs of your business. After editing the template, you can send it to interested parties and track opens and views through PandaDoc.

10. Invoiceberry Templates for Word, Open Office, Excel, or PPT

InvoiceBerry is a U.K based online invoicing and tracking platform that offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats for freelancers and small businesses.

Before you can download the free business plan template, it will ask you to give it your email address. After you complete the little task, it will send the download link to your inbox for you to download. It also provides a business plan checklist in .xlsx file format that ensures you add the right information to the business plan.

Alternatives to the Traditional Business Plan

A business plan is very important in mapping out how one expects their business to grow over a set number of years, particularly when they need external investment in their business. However, many investors do not have the time to watch you present your business plan. It is a long and boring read.

Luckily, there are three alternatives to the traditional business plan (the Business Model Canvas, Lean Canvas, and Startup Pitch Deck). These alternatives are less laborious and easier and quicker to present to investors.

Business Model Canvas (BMC)

The business model canvas is a business tool used to present all the important components of setting up a business, such as customers, route to market, value proposition, and finance in a single sheet. It provides a very focused blueprint that defines your business initially which you can later expand on if needed.

The sheet is divided mainly into company, industry, and consumer models that are interconnected in how they find problems and proffer solutions.

Segments of the Business Model Canvas

The business model canvas was developed by founder Alexander Osterwalder to answer important business questions. It contains nine segments.

• Key Partners: Who will be occupying important executive positions in your business? What do they bring to the table? Will there be a third party involved with the company?
• Key Activities: What important activities will production entail? What activities will be carried out to ensure the smooth running of the company?
• The Product’s Value Propositions: What does your product do? How will it be different from other products?
• Customer Segments: What demography of consumers are you targeting? What are the habits of these consumers? Who are the MVPs of your target consumers?
• Customer Relationships: How will the team support and work with its customer base? How do you intend to build and maintain trust with the customer?
• Key Resources: What type of personnel and tools will be needed? What size of the budget will they need access to?
• Channels: How do you plan to create awareness of your products? How do you intend to transport your product to the customer?
• Cost Structure: What is the estimated cost of production? How much will distribution cost?
• Revenue Streams: For what value are customers willing to pay? How do they prefer to pay for the product? Are there any external revenues attached apart from the main source? How do the revenue streams contribute to the overall revenue?

Lean Canvas

The lean canvas is a problem-oriented alternative to the standard business model canvas. It was proposed by Ash Maurya, creator of Lean Stack as a development of the business model generation. It uses a more problem-focused approach and it majorly targets entrepreneurs and startup businesses.

Lean Canvas uses the same 9 blocks concept as the business model canvas, however, they have been modified slightly to suit the needs and purpose of a small startup. The key partners, key activities, customer relationships, and key resources are replaced by new segments which are:

• Problem: Simple and straightforward number of problems you have identified, ideally three.
• Solution: The solutions to each problem.
• Unfair Advantage: Something you possess that can't be easily bought or replicated.
• Key Metrics: Important numbers that will tell how your business is doing.

Startup Pitch Deck

While the business model canvas compresses into a factual sheet, startup pitch decks expand flamboyantly.

Pitch decks, through slides, convey your business plan, often through graphs and images used to emphasize estimations and observations in your presentation. Entrepreneurs often use pitch decks to fully convince their target audience of their plans before discussing funding arrangements.

Considering the likelihood of it being used in a small time frame, a good startup pitch deck should ideally contain 20 slides or less to have enough time to answer questions from the audience.

Unlike the standard and lean business model canvases, a pitch deck doesn't have a set template on how to present your business plan but there are still important components to it. These components often mirror those of the business model canvas except that they are in slide form and contain more details.

Using Airbnb (one of the most successful start-ups in recent history) for reference, the important components of a good slide are listed below.

• Cover/Introduction Slide: Here, you should include your company's name and mission statement. Your mission statement should be a very catchy tagline. Also, include personal information and contact details to provide an easy link for potential investors.
• Problem Slide: This slide requires you to create a connection with the audience or the investor that you are pitching. For example in their pitch, Airbnb summarized the most important problems it would solve in three brief points – pricing of hotels, disconnection from city culture, and connection problems for local bookings.
• Solution Slide: This slide includes your core value proposition. List simple and direct solutions to the problems you have mentioned
• Customer Analysis: Here you will provide information on the customers you will be offering your service to. The identity of your customers plays an important part in fundraising as well as the long-run viability of the business.
• Market Validation: Use competitive analysis to show numbers that prove the presence of a market for your product, industry behavior in the present and the long run, as well as the percentage of the market you aim to attract. It shows that you understand your competitors and customers and convinces investors of the opportunities presented in the market.
• Business Model: Your business model is the hook of your presentation. It may vary in complexity but it should generally include a pricing system informed by your market analysis. The goal of the slide is to confirm your business model is easy to implement.
• Marketing Strategy: This slide should summarize a few customer acquisition methods that you plan to use to grow the business.
• Competitive Advantage: What this slide will do is provide information on what will set you apart and make you a more attractive option to customers. It could be the possession of technology that is not widely known in the market.
• Team Slide: Here you will give a brief description of your team. Include your key management personnel here and their specific roles in the company. Include their educational background, job history, and skillsets. Also, talk about their accomplishments in their careers so far to build investors' confidence in members of your team.
• Traction Slide: This validates the company’s business model by showing growth through early sales and support. The slide aims to reduce any lingering fears in potential investors by showing realistic periodic milestones and profit margins. It can include current sales, growth, valuable customers, pre-orders, or data from surveys outlining current consumer interest.
• Funding Slide: This slide is popularly referred to as ‘the ask'. Here you will include important details like how much is needed to get your business off the ground and how the funding will be spent to help the company reach its goals.
• Appendix Slides: Your pitch deck appendix should always be included alongside a standard pitch presentation. It consists of additional slides you could not show in the pitch deck but you need to complement your presentation.

It is important to support your calculations with pictorial renditions. Infographics, such as pie charts or bar graphs, will be more effective in presenting the information than just listing numbers. For example, a six-month graph that shows rising profit margins will easily look more impressive than merely writing it.

Lastly, since a pitch deck is primarily used to secure meetings and you may be sharing your pitch with several investors, it is advisable to keep a separate public version that doesn't include financials. Only disclose the one with projections once you have secured a link with an investor.

Advantages of the Business Model Canvas, Lean Canvas, and Startup Pitch Deck over the Traditional Business Plan

• Time-Saving: Writing a detailed traditional business plan could take weeks or months. On the other hand, all three alternatives can be done in a few days or even one night of brainstorming if you have a comprehensive understanding of your business.
• Easier to Understand: Since the information presented is almost entirely factual, it puts focus on what is most important in running the business. They cut away the excess pages of fillers in a traditional business plan and allow investors to see what is driving the business and what is getting in the way.
• Easy to Update: Businesses typically present their business plans to many potential investors before they secure funding. What this means is that you may regularly have to amend your presentation to update statistics or adjust to audience-specific needs. For a traditional business plan, this could mean rewriting a whole section of your plan. For the three alternatives, updating is much easier because they are not voluminous.
• Guide for a More In-depth Business Plan: All three alternatives have the added benefit of being able to double as a sketch of your business plan if the need to create one arises in the future.

Business Plan FAQ

Business plans are important for any entrepreneur who is looking for a framework to run their company over some time or seeking external support. Although they are essential for new businesses, every company should ideally have a business plan to track their growth from time to time.  They can be used by startups seeking investments or loans to convey their business ideas or an employee to convince his boss of the feasibility of starting a new project. They can also be used by companies seeking to recruit high-profile employee targets into key positions or trying to secure partnerships with other firms.

Business plans often vary depending on your target audience, the scope, and the goals for the plan. Startup plans are the most common among the different types of business plans.  A start-up plan is used by a new business to present all the necessary information to help get the business up and running. They are usually used by entrepreneurs who are seeking funding from investors or bank loans. The established company alternative to a start-up plan is a feasibility plan. A feasibility plan is often used by an established company looking for new business opportunities. They are used to show the upsides of creating a new product for a consumer base. Because the audience is usually company people, it requires less company analysis. The third type of business plan is the lean business plan. A lean business plan is a brief, straight-to-the-point breakdown of your ideas and analysis for your business. It does not contain details of your proposal and can be written on one page. Finally, you have the what-if plan. As it implies, a what-if plan is a preparation for the worst-case scenario. You must always be prepared for the possibility of your original plan being rejected. A good what-if plan will serve as a good plan B to the original.

A good business plan has 10 key components. They include an executive plan, product analysis, desired customer base, company analysis, industry analysis, marketing strategy, sales strategy, financial projection, funding, and appendix. Executive Plan Your business should begin with your executive plan. An executive plan will provide early insight into what you are planning to achieve with your business. It should include your mission statement and highlight some of the important points which you will explain later. Product Analysis The next component of your business plan is your product analysis. A key part of this section is explaining the type of item or service you are going to offer as well as the market problems your product will solve. Desired Consumer Base Your product analysis should be supplemented with a detailed breakdown of your desired consumer base. Investors are always interested in knowing the economic power of your market as well as potential MVP customers. Company Analysis The next component of your business plan is your company analysis. Here, you explain how you want to run your business. It will include your operational strategy, an insight into the workforce needed to keep the company running, and important executive positions. It will also provide a calculation of expected operational costs.  Industry Analysis A good business plan should also contain well laid out industry analysis. It is important to convince potential investors you know the companies you will be competing with, as well as your plans to gain an edge on the competition. Marketing Strategy Your business plan should also include your marketing strategy. This is how you intend to spread awareness of your product. It should include a detailed explanation of the company brand as well as your advertising methods. Sales Strategy Your sales strategy comes after the market strategy. Here you give an overview of your company's pricing strategy and how you aim to maximize profits. You can also explain how your prices will adapt to market behaviors. Financial Projection The financial projection is the next component of your business plan. It explains your company's expected running cost and revenue earned during the tenure of the business plan. Financial projection gives a clear idea of how your company will develop in the future. Funding The next component of your business plan is funding. You have to detail how much external investment you need to get your business idea off the ground here. Appendix The last component of your plan is the appendix. This is where you put licenses, graphs, or key information that does not fit in any of the other components.

The business model canvas is a business management tool used to quickly define your business idea and model. It is often used when investors need you to pitch your business idea during a brief window.

A pitch deck is similar to a business model canvas except that it makes use of slides in its presentation. A pitch is not primarily used to secure funding, rather its main purpose is to entice potential investors by selling a very optimistic outlook on the business.

Business plan competitions help you evaluate the strength of your business plan. By participating in business plan competitions, you are improving your experience. The experience provides you with a degree of validation while practicing important skills. The main motivation for entering into the competitions is often to secure funding by finishing in podium positions. There is also the chance that you may catch the eye of a casual observer outside of the competition. These competitions also provide good networking opportunities. You could meet mentors who will take a keen interest in guiding you in your business journey. You also have the opportunity to meet other entrepreneurs whose ideas can complement yours.

Exlore Further

• 12 Key Elements of a Business Plan (Top Components Explained)
• 13 Sources of Business Finance For Companies & Sole Traders
• 5 Common Types of Business Structures (+ Pros & Cons)
• How to Buy a Business in 8 Steps (+ Due Diligence Checklist)

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

How to create a 3-year business plan

• March 15, 2024

12 Min Read

Whether you’re a budding entrepreneur or a skilled business owner, anticipating where your business will be in the next few years can be a challenging task.

That’s why it’s very important to have a strategic plan for the next three or even five years from now, which guides you to set big goals and ensures your business thrives in the competitive landscape.

If you feel like you need help or are unsure of how to create a 3-year business plan from scratch, we’re here to help you get started!

Explore our three-year business plan template that covers everything, from deciding on your long-term goals to figuring out how to reach them.

So, ready to begin? Let’s dive in and start by understanding what a 3-year plan is.

What is a 3 Year Business Plan?

A 3-year business plan is a professional document that serves as a strategic roadmap for your company’s future. It outlines business goals, strategies, financial statements, and growth plans for the next three years.

It helps you set clear objectives, define target customers, allocate resources effectively, mitigate potential risks, adapt to changing market conditions, and make informed decisions.

Ultimately, a well-crafted 3-year plan keeps you on track and drives sustainable growth and profitability over the specified timeline.

Why do you need a 3 year business plan?

Writing a solid business plan is one of the most crucial aspects of your entrepreneurial journey.

A 3-year business plan gives you a structural framework to think strategically about your company’s plans over the next few years. It helps you organize your business idea and guide your strategic decision-making.

The following are a few key reasons why it’s necessary to have an actionable business plan:

Highlights your long-term vision

A 3-year plan helps you articulate your long-term vision and define a set of strategic goals for your business over the next three years. This will allow you to stay focused on your objectives and manage your decision-making to navigate the complexities of your business landscape.

Increases investor’s confidence

If you’re looking for investors or stakeholders to fund your business expansion, a well-written 3-year plan is essential. It demonstrates your commitment to long-term growth and assures investors that your business will make profits. So, this will increase their confidence and trust in your long-term strategy.

Mitigates potential risks

Analyzing and identifying potential risks is the key aspect of any business. So, an actionable plan helps you develop strategies to mitigate those risks and ensure your business continuity. If there is economic volatility, regulatory transitions, or technical disruptions, a 3-year business plan helps you anticipate and prepare for business challenges.

Promotes strategic planning

A 3-year strategic business plan encourages you to think about the business and how to attain sustainable growth or success over the next few years. It also helps you make hiring decisions and predict future staffing needs. By identifying market trends, competitors, and internal capabilities, you can enhance strategies to capitalize on opportunities and reduce potential risks.

Now that you know why a business plan is beneficial, it’s time to understand what to include in a detailed 3-year plan.

What to include in a detailed three-year business plan

1. executive summary.

An executive summary is a brief introduction to your 3-year business plan and summarizes each component you will mention in the document.

Though it is the first section, it is written in the last as it provides a high-level overview of the complete business plan.

Since the executive summary is the introductory section of the plan, its primary goal is to quickly attract readers and convince them to delve further into the rest of your plan.

Here are a few details you may consider including in your executive summary:

• A quick overview of your business idea and objectives
• Your company’s vision statement
• Industry analysis and market research
• Sales and marketing strategy
• Key performance indicators
• Introduction of your management team
• Financial forecasts for the next three years

Remember, you should keep your summary simple, concise, and compelling enough to build investors’ or readers’ trust.

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2. Business Overview

As its name indicates, the business overview section provides a detailed description of your company. It includes all the essential information, starting from a business idea to its long-term goals.

Since you’ll give a brief company description in the executive summary, this chapter would be an expansion on it, providing an in-depth understanding of your business.

So, this section makes it easier for readers or potential business partners to quickly comprehend the nature of your business, such as what your company does, who are the targeṭ customers, and how you plan to meet future objectives.

You may include all the following crucial elements in this section:

• The type of small business you operate
• A brief history or background details of your business
• Achievements or milestones you’ve achieved
• Business legal structure(s-corp, LLC, sole proprietorship, etc.)
• Core values and mission statement
• Short-term goals and long-term objectives

3. Market Analysis

Industry and market analysis is a detailed breakdown of the external business environment. It provides a thorough understanding of the specific industry or sector in which your business will operate. 

This section helps your readers or potential investors to easily understand the broader industry, target customers, direct & indirect competitors, emerging trends, and market demands.

Apart from that, it helps you and your team to analyze and identify the untapped key areas in the market and develop strategies to stand out from the competitors.

Here are some specific details you may include:

• Market share and growth potential
• Target market
• Ideal customers along with their preferences
• Key competitors
• Current trends
• Regulatory environment

4. Product and Services

In the product and services section, you may provide details of your product or service range, main features, pricing, and more. It helps you demonstrate the current capabilities of your business and highlight the USPs.

So, you may consider adding the below points in this section:

• Product/service description 
• Pricing details
• Quality standards
• Product line development plan

While you’re planning how to start your own business, you have to explore the market and determine how your offerings will encounter customer problems and satisfy their needs better than competitors.

5. Sales and Marketing Strategies

Your sales and marketing plan outlines the strategies you’ll use to reach the target audience and how you’ll bring more customers by promoting your products/services to them.

A well-written marketing plan will encourage you to create effective campaigns and simplify your marketing efforts while maintaining the marketing budget and maximizing return on investment.

Thus, you may describe a list of sales strategies and promotional tactics to attract new customers and retain existing ones. 

Here’s a list of key components you may include in this section:

• Target audience
• Marketing strategy
• Sales approach
• Sales and marketing goals
• Customer retention program

6. Operations Plan

As you’ve mentioned your business goals in the previous sections, now it’s time to define how you’ll meet those goals.

In your operations plan, you’ll need to outline all the details of everyday business operations and activities. This will help you and your team to define responsibilities, daily tasks, and short-term goals you plan to achieve, keeping track of your future goals.

Well, here is some distinct information you should include in the operations plan:

• Staffing and training
• Operational process
• Supply chain & Inventory management
• Facilities and equipment

Note that your operations plan is a living document, you may adjust and update it as needed.

7. Management Team

A well-trained and experienced management team is crucial for driving your business ahead. 

So, highlight your business owners and key executives in this section, along with their roles & responsibilities, educational qualifications, industry experience, and how you plan to compensate them. 

It allows readers to easily understand your management team’s background, skills, and expertise that help you grow your company and make informed business decisions. 

The following information you may consider including in the management team section:

• Company owner profile
• Resume-styled summary of key members
• Organizational structure
• Compensation plan
• Advisory board members

8. 3-year Financial Projections

A financial plan is the most crucial aspect of your three-year business plan, as potential investors or lenders want to know more about your business’s net profit margins.

It provides a detailed blueprint of your business’s 3-year financial reports broken out both monthly or quarterly for the first year of operation and then annually. 

While creating an in-depth, strategic plan for the next 3-years, you’ll need to highlight all the below factors:

• Revenue forecast
• Operating costs
• Profitability analysis
• Cash flow projections
• Break-even analysis
• Business ratios

In addition, if you’re seeking a business loan or angel investor, you will need to summarize exactly how much money you need, how you plan to use those funds, and how you pay it back.

Well, having realistic financial forecasts at your hand can help you evaluate your business’s financial health and growth potential in the long run.

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Tips for creating a three-year business plan

Now that you understand what to include in a business plan, it’s time to consider how you’ll actually create the document. Here are some tips for drafting a comprehensive three-year business plan.

This will help you prepare a business plan that serves its purpose and can be an easy reference for the years ahead.

1. Conduct potential market research

Conduct a thorough analysis of the market, competition, internal capabilities, and the current financial situation of your business before you finalize your three-year plan. Also, identify your strengths and address weaknesses. This helps you pinpoint potential risks and opportunities that impact your business and strategic decisions for the next few years.

2. Set realistic financial goals

While setting your business objectives, it’s important to define specific, measurable, and achievable goals that you can accomplish in the years ahead. Try to consider a few factors, such as marker conditions, emerging trends, and your business capabilities when setting revenue targets, profit margins, and other financial milestones. This will help you stay focused and motivated.

3. Demonstrate the potential for ROI

A 3-year plan should effectively show the investors and stakeholders that your business has the potential for return on investment(ROI). It will help you outline how your strategic initiatives will generate revenue and profitability over the next three years. So you can provide a clear opportunity for investment and support.

4. Develop contingency plans

Developing a contingency plan is crucial for the potential challenges that may arise over the next few years. You can consider several factors like economic downturns, supply chain disruptions, regulatory changes, or other unforeseen events. This will mitigate the impact of these risks and ensure that your business runs smoothly even in challenging circumstances.

5. Ensure clear communication

A detailed three-year plan allows entrepreneurs and business owners to clearly communicate their business goals, milestones, and strategies. So this will be easy to understand for all the stakeholders, including potential partners, investors, and employees. You can also use charts, graphs, and visuals to share intricate details and make your plan more compelling.

6. Review and update regularly

Once you have created the entire business plan, you should regularly schedule reviews to assess progress, update assumptions, and adjust strategies as needed. Since the business plan is a living document, it evolves over time based on new facts or varying business environments. By revising and updating your plan, you make sure that it will remain relevant and effective.

So, try to keep in mind these few factors while making a three-year business plan. Now, let’s move forward and explore several types of business plan templates.

Examples of 3-year business plan templates

As there are several types of 3-year business plan templates available, no two business owners prepare the same kind of 3-year plan.

This is so because the business plan template that works best for your company depends on the age of your business, objectives, and the purpose behind using the plan.

Here are a few examples that are tailored to different aspects of business planning:

Traditional three year business plan template

This kind of business plan template follows the standard format as you establish a new business or startup, define the target audience, and market your products/services. It includes lengthy sections about company overview, market analysis, sales and marketing strategy, or financial forecasting. So, this will provide a detailed plan for your business over the next 3 years.

Strategic plan for growth and expansion

When you’ve been running the business for a few years and thinking about expansion or growth, a strategic growth plan might be your choice. It will help you approach your growth strategically and provide the best opportunities to identify risks and techniques to mitigate them. So, this type of template helps align your business activities with long-term objectives.

Simple one-page plan

As the name suggests, it is a single-page business plan that helps you provide a high-level overview of your business to the partners, investors, or other stakeholders. Since it is shorter in length, it highlights the most crucial points, and even writing a one-page business plan can be much simpler and quicker compared to the traditional business plan.

Start preparing your business plan

Finally, with the help of details and resources provided in this guide, you’re well-equipped to start an exciting journey of preparing a successful 3-year business plan.

Whether you’re an experienced entrepreneur or a new business owner, you can consider using a business plan app like Upmetrics to streamline your business planning approach.

Upmetrics is a user-friendly platform that provides easy-to-follow guides, 400+ business plan examples, and AI support to create an actionable plan in manageable steps. It also helps you develop realistic financial projections if needed or when you feel stuck with a financial plan.

So, start writing your plan today and bring your vision to life!

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Frequently Asked Questions

Is it good to make a 3-year strategic plan.

Creating a 3-year or long-term plan is highly beneficial for your business. It helps you set clear goals, anticipate potential risks & challenges, develop a realistic financial outlook, demonstrate growth potential to investors, and build their confidence. So, it guides you in the right direction to attain sustainable growth and success over the long term.

How much detail should I include in the financial projections?

The following are a few key elements that you need to include in your financial projections:

• Sales forecast
• Expenses budget
• Cash flow statement
• Profit and loss statement (Income statement)
• Balance sheet
• External funding needs

How long should my 3-year business plan be?

The length of a 3-year business plan typically ranges from 15-35 pages and beyond as it depends on your purpose, business concept, objectives, resources you plan to use, and the strategies you will need to achieve your business goals.

Can I write a business plan myself?

Of course, you can write your business plan by yourself. If you are new to the planning process, you may get help from various resources available, such as business plan software, online guides, templates, strategic planning sessions, and professional writers.

What's the best way to format my 3-year plan?

The best way to format your 3-year plan depends on your specific needs, target market, and business strategy. You may follow the below guidelines to create a professional-looking business plan:

• Write a compelling executive summary
• Provide a detailed company overview
• Conduct thorough market and industry analysis
• Describe the products and services
• Outline sales and marketing strategy
• Summarize operations plan
• Introduce your management team
• Present 3-year financial forecast

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Must-Have Three-Year Plan Templates with Samples and Examples

For businesses, it is a survival skill to be able to plan and foresee trends. A three-year plan serves as a compass in this regard, illuminating how organizations progress in the direction they want to go. These detailed plans provide a roadmap that directs the business toward its desired success by capturing important objectives, prospective obstacles, and successful solutions to overcome them. A well-crafted three-year plan helps firms position themselves for growth, resilience, and sustainability. It assists in optimal resource allocation, risk avoidance, and flexibility to changing market dynamics. At SlideTeam, we recognize the critical position that 3-year plans occupy in business. We are committed to helping businesses develop successful strategies using our PowerPoint Slides.

Using our templates, organizations can create three-year plans that are both aesthetically pleasing and properly planned, assuring a clear path to their objectives.

Want to create a future for your company that matches your vision? Explore our unique consulting business plan templates to get started on your transformational road to a successful and fulfilling future!

Top three-year Plan Templates

Each bundle showcased below has been curated after expert help, including components that simplify planning and support good strategy communication. Our templates contain a wide range of vital elements crucial for the success of your organization. It varies from capturing business chances, encouraging growth strategies, and highlighting marketing initiatives.

Each of the template is 100% editable and customizable, providing you with a structure and a starting point. The edit capability means you can tailor the presentation to audience profile.

Marketing of your business has several forms. One important emerging form of digital marketing is email marketing. Equip email marketing strategies in your business with the help of professional email marketing plan templates from SlideTeam!

Let’s explore.

Template 1: 3-Year-Plan PPT Template Bundles

This PPT Template package offers a variety of slides that highlight details like objectives, schedules, and milestones separately. Give your team a clear, concise understanding of the path ahead so that everyone is on the same page and pursuing the same goals. The 17-slide complete deck covers steps that go into creating a three-year-plan, which are logistics, a complete strategic plan for the entire duration and a marketing plan. Also covered in the presentation template are bundles on improving customer experience, economic growth and enhancing digital transformation. The PPT Presentation also digs deep into the three-year expansion plan for retail businesses, and an action plan icon for automobile industry.

Click here to download

Template 2: Three-Year-Plan Business Planning Opportunities Growth Strategies Marketing

Use our specialized templates for strategic business planning to highlight prospects, growth plans, and marketing campaigns. Create a roadmap that identifies potential for growth, develops plans to take advantage of those opportunities, and creates a marketing strategy that increases your brand's visibility in the market. This template bundle has specialised slides for controlling and planning deviations in the regular flow or work, defining objectives, and completion of construction projects. It also has specific slides for generating revenues and collecting feedback that go a long in inspiring confidence among stakeholders. You can identify opportunities, measure performance, and analyse the advancement in technology with the help of this presentation. This expert template is ideal for marketing, business prospects, growth strategies, and planning. It is appropriate for expert discussion meetings because it has twelve slides with a consistent theme representation. You can use the template to present your thoughts and vision at expert discussion meetings.

Click here to download.

Template 3: Three-year planning timeline business plan achievement innovation development

A successful firm depends on innovation and progress. This template makes adopting a planned strategy for hitting company milestones, encouraging innovation, and guaranteeing ongoing progress easier. Align your plans with the future you want to reach by picturing your successes and growth. This complete deck in 10 slides uses imaginative graphics and in-depth material. 

The slides cover a timeline for displaying the business plan and the achievement target. This timeline has been displayed in many ways, including connected circles and arrow graphs. The underlying activity can be website development, product innovation and business plan, and hitting the bull’s eye with your targets. It contains charts, graphs, icons, layouts, and diagrams. Get the deck and deliver an excellent presentation.

Embrace the Future Today!

Develop a vision for your company that goes beyond and beyond the horizon! Discover our three-year plan examples and set the stage for a profitable future.

However, sometimes short-term plans are equally important for businesses. Check out our six-month plan templates in this blog!

Incorporate our expertly created templates into your strategic planning and see your company transform. A carefully planned strategy is the first step to success; take it now and make the next three years count! Your future is here; now is the moment to mold it.

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3 Year Business Plan

How long does it usually take for a person to start out a successful business? Many of you may have been asked this kind of question, or you yourself have been asking this question to successful business owners. Many of them may answer in a span of a year or two or even annually . Which will also depend on the type of business you are planning on opening or planning on making. If you opt for a kind of business that can give you the best results in a span of 3 years, you will have to do your research on what business that may be. Some will opt to open a school or a university, while others a company. Regardless of what you may choose, you must also learn to stick to the business plan you made for that three year mark. For more ideas, let’s check out the examples of a 3 year business plan.

10+ 3 Year Business Plan Examples

1. free simple 3 year business plan template.

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2. 3 Year Business Plan Template

3. 3 Year Charity Business Plan

Size: 586 KB

4. 3 Year Business Plan in PDF

5. Standard 3 Year Business Plan

6. 3 Year Business Plan Form

Size: 95 KB

7. Formal 3 Year Business Plan

Size: 447 KB

8. 3 Year Partnership Business Plan

Size: 224 KB

9. 3 Year Business Development Plan

Size: 578 KB

10. Draft 3 Year Business Plan

Size: 192 KB

11. General 3 Year Business Plan

What Is a 3 Year Business Plan?

A 3 year business plan is a type of business strategic plan that you write with the steps and strategies with a timeline of three years. This kind of plan helps the business owner focus on what should be done, what can be done and how you can avoid roadblocks and risks that go with the kind of business you plan to do, basically outlining the entire business plan. In addition to that, a 3 year business plan focuses on how you can grow your business and consider the necessary things to do in order to set up the goal of your business. Lastly, the number of years that may take in order for you to achieve in a possible way of the business.

How to Make a 3 Year Business Plan

Making a 3 year business plan takes patience , effort, time and understanding. It is not something that can be done simply by writing something down. With a 3 year business plan ahead, your thoughts on the business should also be about how you are going to outline your plan and what you can do about it. With that being said, the following steps will provide you a way to write your 3 year business plan.

1. Write an Overview for Your Business Plan

Make the overview of your business plan. The overview of your business plan will have the vision, mission, general information and of course the name of your business. The overview’s purpose is to introduce what your business plan is about, what you can perceive it to be and lastly, how you will want your business to be in the timeline of three years.

2. Define Your Goals and Objectives

Redefining your goals and objectives also helps out with your business plan. Your main goal will be about setting up your upcoming business. The objectives should also be made in a specific time frame, as well as the goal in question. In addition to that, your goals and objectives should be based on the 3 year business plan that you made.

3. Set an Estimation for Your Finance

Another thing to consider is to set an estimation for your finances. The estimation of your finances are also important to set up your business or your company. Without having any idea of the estimation of your finances, your business plan is incomplete. Everything has to be settled and everything has to be written. That includes the estimation of your finances. How much is necessary or needed in order to set up your business.

4. Update Your Business Plan Ever So Often

Lastly, update your business plan ever so often. Updating and giving some milestones are a part of your business plan composition. You can update it every quarter if possible. Making changes to see whether these strategies work or not is part of it.

What is a 3 year business plan?

A three year business plan is a type of strategic business plan that outlines a 3 year timeline.

What is expected of a 3 year business plan?

Just like writing any other kind of business plan, you can expect from it the time frame, the outline and the strategies that can help you out with starting up your business or your company.

What should not be in a 3 year business plan?

Avoid this when you are making a business plan: Avoid not adding an overview, an estimation and strategies. These are important factors that make up your business plan.

You may have heard of  30 60 90 day business plans . You may also have heard of 1 year business plans, or even 2 years business plans. It is the same with a 3 year business plan except the only difference is the number of years. When you make  a business plan , the most common thing that you will notice is the timeline. How long are you planning on getting your business to start up or to make it into a reality. Others may perceive it in a different manner, but the most important is how you perceive it and how you are going to make it happen. With that, from the example templates above and the steps to making your business plan, you are now ready to start out your 3 year business plan and make it successful.

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Free Business Plan Template for Small Businesses (2024)

Use this free business plan template to write your business plan quickly and efficiently.

A good business plan is essential to successfully starting your business —  and the easiest way to simplify the work of writing a business plan is to start with a business plan template.

You’re already investing time and energy in refining your business model and planning your launch—there’s no need to reinvent the wheel when it comes to writing a business plan. Instead, to help build a complete and effective plan, lean on time-tested structures created by other  entrepreneurs and startups. 

Ahead, learn what it takes to create a solid business plan and download Shopify's free business plan template to get started on your dream today. 

What this free business plan template includes

• Executive summary
• Company overview
• Products or services offered
• Market analysis
• Marketing plan
• Logistics and operations plan
• Financial plan

This business plan outline is designed to ensure you’re thinking through all of the important facets of starting a new business. It’s intended to help new business owners and entrepreneurs consider the full scope of running a business and identify functional areas they may not have considered or where they may need to level up their skills as they grow.

That said, it may not include the specific details or structure preferred by a potential investor or lender. If your goal with a business plan is to secure funding , check with your target organizations—typically banks or investors—to see if they have business plan templates you can follow to maximize your chances of success.

Our free business plan template includes seven key elements typically found in the traditional business plan format:

1. Executive summary

This is a one-page summary of your whole plan, typically written after the rest of the plan is completed. The description section of your executive summary will also cover your management team, business objectives and strategy, and other background information about the brand. 

2. Company overview

This section of your business plan will answer two fundamental questions: “Who are you?” and “What do you plan to do?” Answering these questions clarifies why your company exists, what sets it apart from others, and why it’s a good investment opportunity. This section will detail the reasons for your business’s existence, its goals, and its guiding principles.

3. Products or services offered

What you sell and the most important features of your products or services. It also includes any plans for intellectual property, like patent filings or copyright. If you do market research for new product lines, it will show up in this section of your business plan.

4. Market analysis

This section includes everything from estimated market size to your target markets and competitive advantage. It’ll include a competitive analysis of your industry to address competitors’ strengths and weaknesses. Market research is an important part of ensuring you have a viable idea.

5. Marketing plan

How you intend to get the word out about your business, and what strategic decisions you’ve made about things like your pricing strategy. It also covers potential customers’ demographics, your sales plan, and your metrics and milestones for success.

6. Logistics and operations plan

Everything that needs to happen to turn your raw materials into products and get them into the hands of your customers.

7. Financial plan

It’s important to include a look at your financial projections, including both revenue and expense projections. This section includes templates for three key financial statements: an income statement, a balance sheet, and a cash-flow statement . You can also include whether or not you need a business loan and how much you’ll need.

Business plan examples

What do financial projections look like on paper? How do you write an executive summary? What should your company description include?  Business plan examples  can help answer some of these questions and transform your business idea into an actionable plan.

Professional business plan example

Inside our template, we’ve filled out a sample business plan featuring a fictional ecommerce business . 

The sample is set up to help you get a sense of each section and understand how they apply to the planning and evaluation stages of a business plan. If you’re looking for funding, this example won’t be a complete or formal look at business plans, but it will give you a great place to start and notes about where to expand.

Lean business plan example

A lean business plan format is a shortened version of your more detailed business plan. It’s helpful when modifying your plan for a specific audience, like investors or new hires. 

Also known as a one-page business plan, it includes only the most important, need-to-know information, such as:

• Company description
• Key members of your team
• Customer segments

💡 Tip: For a step-by-step guide to creating a lean business plan (including a sample business plan), read our guide on how to create a lean business plan .

Benefits of writing a solid business plan

It’s tempting to dive right into execution when you’re excited about a new business or side project, but taking the time to write a thorough business plan and get your thoughts on paper allows you to do a number of beneficial things:

• Test the viability of your business idea. Whether you’ve got one business idea or many, business plans can make an idea more tangible, helping you see if it’s truly viable and ensure you’ve found a target market. 
• Plan for your next phase. Whether your goal is to start a new business or scale an existing business to the next level, a business plan can help you understand what needs to happen and identify gaps to address.
• Clarify marketing strategy, goals, and tactics. Writing a business plan can show you the actionable next steps to take on a big, abstract idea. It can also help you narrow your strategy and identify clear-cut tactics that will support it.
• Scope the necessary work. Without a concrete plan, cost overruns and delays are all but certain. A business plan can help you see the full scope of work to be done and adjust your investment of time and money accordingly.
• Hire and build partnerships. When you need buy-in from potential employees and business partners, especially in the early stages of your business, a clearly written business plan is one of the best tools at your disposal. A business plan provides a refined look at your goals for the business, letting partners judge for themselves whether or not they agree with your vision.
• Secure funds. Seeking financing for your business—whether from venture capital, financial institutions, or Shopify Capital —is one of the most common reasons to create a business plan.

Why you should you use a template for a business plan

A business plan can be as informal or formal as your situation calls for, but even if you’re a fan of the back-of-the-napkin approach to planning, there are some key benefits to starting your plan from an existing outline or simple business plan template.

No blank-page paralysis

A blank page can be intimidating to even the most seasoned writers. Using an established business planning process and template can help you get past the inertia of starting your business plan, and it allows you to skip the work of building an outline from scratch. You can always adjust a template to suit your needs.

Guidance on what to include in each section

If you’ve never sat through a business class, you might never have created a SWOT analysis or financial projections. Templates that offer guidance—in plain language—about how to fill in each section can help you navigate sometimes-daunting business jargon and create a complete and effective plan.

Knowing you’ve considered every section

In some cases, you may not need to complete every section of a startup business plan template, but its initial structure shows you you’re choosing to omit a section as opposed to forgetting to include it in the first place.

Tips for creating a successful business plan

There are some high-level strategic guidelines beyond the advice included in this free business plan template that can help you write an effective, complete plan while minimizing busywork.

Understand the audience for your plan

If you’re writing a business plan for yourself in order to get clarity on your ideas and your industry as a whole, you may not need to include the same level of detail or polish you would with a business plan you want to send to potential investors. Knowing who will read your plan will help you decide how much time to spend on it.

Know your goals

Understanding the goals of your plan can help you set the right scope. If your goal is to use the plan as a roadmap for growth, you may invest more time in it than if your goal is to understand the competitive landscape of a new industry.

Take it step by step

Writing a 10- to 15-page document can feel daunting, so try to tackle one section at a time. Select a couple of sections you feel most confident writing and start there—you can start on the next few sections once those are complete. Jot down bullet-point notes in each section before you start writing to organize your thoughts and streamline the writing process.

Maximize your business planning efforts

Planning is key to the financial success of any type of business , whether you’re a startup, non-profit, or corporation.

To make sure your efforts are focused on the highest-value parts of your own business planning, like clarifying your goals, setting a strategy, and understanding the target market and competitive landscape, lean on a business plan outline to handle the structure and format for you. Even if you eventually omit sections, you’ll save yourself time and energy by starting with a framework already in place.

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Business plan template FAQ

What is the purpose of a business plan.

The purpose of your business plan is to describe a new business opportunity or an existing one. It clarifies the business strategy, marketing plan, financial forecasts, potential providers, and more information about the company.

How do I write a simple business plan?

• Choose a business plan format, such as a traditional or a one-page business plan. 
• Find a business plan template.
• Read through a business plan sample.
• Fill in the sections of your business plan.

What is the best business plan template?

If you need help writing a business plan, Shopify’s template is one of the most beginner-friendly options you’ll find. It’s comprehensive, well-written, and helps you fill out every section.

What are the 5 essential parts of a business plan?

The five essential parts of a traditional business plan include:

• Executive summary: This is a brief overview of the business plan, summarizing the key points and highlighting the main points of the plan.
• Business description: This section outlines the business concept and how it will be executed.
• Market analysis: This section provides an in-depth look at the target market and how the business will compete in the marketplace.
• Financial plan: This section details the financial projections for the business, including sales forecasts, capital requirements, and a break-even analysis.
• Management and organization: This section describes the management team and the organizational structure of the business.

Are there any free business plan templates?

There are several free templates for business plans for small business owners available online, including Shopify’s own version. Download a copy for your business.

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Examples of Three-Year Business Projections

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What financial projections do investors look for in a business plan, how to calculate multiple-year roi.

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• Linear Approach to Forecasting & Valuation Techniques

Business plans written for the purpose of raising capital are typically required to have a three-year projection of sales and profits. This provides investors with information about how they can expect return on their investment. Your three-year projection will vary depending on what kind of growth you expect your business to have.

Three-Year Projections

All business plans are written for a specific purpose, with most formal plans written in order to raise initial or continuing investment for the operation of the business. Business plans should have pro forma spreadsheets for all past operations, if any, and projections out for the next three years. These spreadsheets itemize all past and future expenses and income for the business. A time period of three years is used because it is long enough for investors to gain insight into the entrepreneur's thinking, but the longer-term the projection, the more likely it is to be inaccurate due to changing business needs.

Projecting Cash Return

A cash return business has already reached the point where sales income exceeds the costs of operation, and some part of these profits are paid out to initial investors. Existing businesses that are profitable will need to detail in the business plan why profits are being paid out to some investors, while investment capital is still being sought for other expansion. Most commonly, a cash return projection is used for a startup business, documenting when profitability is expected to be reached, and when the business will begin paying out on the startup investment.

Projecting Profit Reinvestment

A business using a profit reinvestment model will take future profits over some predetermined period of time, and reinvest that capital into business expansion. Typically, these businesses will limit their growth to the amount that can be sustained by profitability. In these cases, the initial investors must wait a longer period of time before they receive any return on their investment capital, so business plans of this type demonstrate that a much larger return on investment will be provided in return for the longer period of reinvestment.

Projecting Multiple Capital Rounds

Businesses that expect to grow very large, or which require a great deal of expensive expansion before going to market, may require several rounds of capital investment before showing any profitability. Examples of this model include computer hardware or biotechnology firms, where the first round of investment covers startup and design costs, but second or third rounds of investment are necessary for additional research and development before primary products or services are shipped to market. This is the most complex form of business startup to run, as initial investors must be promised return on their investment in a way that is attractive to them but which does not dissuade future investors by selling too much equity or promising too much capital outflow.

• Biz Plan It: Financial Projections -- Business Plan Basics

Ellis Davidson has been a self-employed Internet and technology consultant, entrepreneur and author since 1993. He has written a book about self-employment for recent college graduates and is a regular contributor to "Macworld" and the TidBITS technology newsletter. He is completing a book on self-employment options during a recession. Davidson holds a Bachelor of Arts in American civilization from the University of Pennsylvania.

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• 1 How to Write Your Business Proposal
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1. Why is utilizing an example business plan a good idea?

Sample business plans can help you quickly and easily write a business plan for your own business. Business plans are an important tool for any business, but they can be challenging to create. A sample business plan will help you understand the business plan format , the benefit of market research, and how to write a compelling executive summary. It can also serve as a guide for creating your own business plan, outlining the key sections and providing examples of successful plans. Utilizing the best business plan template can save you time and ensure that your plan is well-structured and comprehensive.

Business plan examples may even help you with the different sections of a plan, including market analysis, business description, cash flow statements/business financial statements, and more. Business plans can also show you how a quality plan in your exact business plan category is organized and shows you the appropriate business communications style to use when writing your business plan.

2. Who would benefit from using an example business plan?

Any entrepreneur or business owner who has never written a business plan before can benefit from an example or sample plan. New business owners often start with business plan templates , which are helpful but are sometimes more useful after reviewing other sample business plans.

A good sample plan can be a step-by-step guide as you work on your business planning and business idea. Once you have a sense for the flow, specs, and details, etc. that business plans have, utilizing a business plan template will help you pull everything together, helping you create a plan investors and other stakeholders will value. A solid business plan will also help you if you need a bank loan, which may require a startup business plan. Download our free business plan template to help you get started on your own business plan.

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3. How do you get started with a sample business plan and maximize its benefit?

First you should read the business plan thoroughly. Study both the type of information provided in key sections like the executive summary, target market analysis, summary, etc., as well as the format and style of the plan. As you read, you may find yourself thinking through things such as improving or evaluating your business planning process, your business idea, or reconsidering who you want to write your business plan for. This is OK and part of the process. In fact, when you start writing a business plan for the first time, it will be much easier because you’ve gone through this process.

After this initial read, outline your business plan and copy in from the sample plan sections that apply to your business. For instance, if the sample plan included public relations in their marketing strategy and sales plan, and you will also use this tactic, you can copy it into your plan and edit it as appropriate. Finally, answer the other questions answered in the sample plan in ways that reflect your unique business and target customers.

Writing a business plan can seem daunting. Starting your business plan writing process by reviewing a plan that’s already been created can remove a lot of mental and emotional barriers while helping you craft the best plan you can.

4. When should you not use a sample business plan?

If your business is unlike any other, using a sample business plan will not be as effective. In this situation, writing a business plan from scratch utilizing a business plan template is probably your best path forward.

As an example, Facebook’s early business plan was unlike others since it was paving a new path and way of doing business. But, groundbreaking new businesses like Facebook are not the norm, and the vast majority of companies will benefit from utilizing sample business plans.

5. How do you choose the right type of business plan for your venture?

Selecting the appropriate type of business plan depends on your business’s stage, needs, and goals. Let’s explore the different types of business plans and how to determine which business plan format is right for you.

• Startup Business Plan : This type of plan is for businesses just starting out and seeking funding or investment. It typically includes a detailed analysis of the market, target audience, competition, and financial projections.
• Traditional Business Plan : Traditional business plans are the most common type of business plan, used by established businesses to outline their goals and strategies. It includes all the key sections such as market analysis, company description, and financial statements.
• Internal Business Plan : Internal business plans are used for internal purposes, to guide the day-to-day operations and decision making of the business. It may not be as detailed as a traditional business plan, but still includes important information such as company mission, objectives, and key performance indicators.
• Feasibility Business Plan : A feasibility business plan is used to assess the viability of a new product or service in the market. It includes detailed research and analysis to determine if the business idea is feasible and profitable.
• One-Page Business Plan : As the name suggests, this type of business plan is condensed into one page and includes the most critical information about the business. It can be a useful tool for pitching to potential investors or partners.
• Strategic Business Plan : A strategic plan looks at the big picture and long-term business goals of a company. It may include the company’s mission statement, core values, and overarching strategies for achieving success.

Ultimately, the type of business plan you choose will depend on your business’s specific needs and goals. It may also be beneficial to combine elements from different types of plans to create a customized plan that best fits your business. Carefully consider your objectives and resources before deciding on the right type of plan for your venture.

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The business plan example below is for Shoutmouth, a company that enjoyed much success in the early 2000’s and which was able to raise funding. While the plan’s premise (social networking) is not as unique now as it was then, the format and structure of this business plan still holds.

I. Executive Summary

Business Overview

Launched in late February 2007, Shoutmouth.com is the most comprehensive music news website on the Internet .

Music is one of the most searched and accessed interests on the Internet. Top music artists like Akon receive over 3 million searches each month. In addition, over 500 music artists each receive over 25,000 searches a month.

However, music fans are largely unsatisfied when it comes to the news and information they seek on the artists they love. This is because most music websites (e.g., RollingStone.com, MTV.com, Billboard.com, etc.) cover only the top eight to ten music stories each day – the stories with mass appeal. This type of generic coverage does not satisfy the needs of serious music fans. Music fans generally listen to many different artists and genres of music. By publishing over 100 music stories each day, Shoutmouth enables these fans to read news on all their favorite artists.

In addition to publishing comprehensive music news on over 1200 music artists, Shoutmouth is a social network that allows fans to meet and communicate with other fans about music, and allows them to:

• Create personal profiles
• Interact with other members
• Provide comments on news stories and music videos
• Submit news stories and videos
• Recommend new music artists to add to the community
• Receive customized news and email alerts on their favorite artists

Success Factors

Shoutmouth is uniquely qualified to succeed due to the following reasons:

• Entrepreneurial track record : Shoutmouth’s CEO and team have helped launch numerous successful ventures.
• Affiliate marketing track record : Online affiliate marketing expertise has been cited as one of MySpace’s key success factors. Over the past two years, Shoutmouth’s founders have run one of the most successful online affiliate marketing programs, having sold products to over 500,000 music customers online.
• Key milestones completed : Shoutmouth’s founders have invested $500,000 to-date to staff the company (we currently have an 11-person full-time team), build the core technology, and launch the site. We have succeeded in gaining initial customer traction with 50,000 unique visitors in March, 100,000 unique visitors in April, and 200,000 unique visitors in May 2007.

Unique Investment Metrics

The Shoutmouth investment opportunity is very exciting due to the metrics of the business.

To begin, over the past two years, over twenty social networks have been acquired. The value in these networks is their relationships with large numbers of customers, which allow acquirers to effectively sell to this audience.

The sales price of these social networks has ranged from $25 to $137 per member. Shoutmouth has the ability to enroll members at less than $1 each, thus providing an extraordinary return on marketing expenditures. In fact, during an April 2007 test, we were able to sign-up 2,000 members to artist-specific Shoutmouth newsletters at a cost of only 43 cents per member.

While we are building Shoutmouth to last, potential acquirers include many types of companies that seek relationships with music fans such as music media/publishing (e.g., MTV, Rolling Stone), ticketing (e.g., Ticketmaster, LiveNation) and digital music sales firms (e.g., iTunes, The Orchard).

Financial Strategy, Needs and Exit Strategy

While Shoutmouth’s technological, marketing and operational infrastructure has been developed, we currently require $3 million to execute on our marketing and technology plan over the next 24 months until we hit profitability.

Shoutmouth will primarily generate revenues from selling advertising space. As technologies evolve that allow us to seamlessly integrate music sampling and purchasing on our site, sales of downloadable music are also expected to become a significant revenue source. To a lesser extent, we may sell other music-related items such as ringtones, concert tickets, and apparel.

Topline projections over the next three years are as follows:

II. Shoutmouth Overview

What is Shoutmouth?

Shoutmouth is an operating company of The Kisco Group Inc. (TKG). Since 2003, TKG has capitalized on web-based marketing opportunities via launching targeted websites and generating web-based leads. TKG revenues in 2005 exceeded $1.3 million and grew to $3.5 million in 2006. Shoutmouth is currently the sole focus of TKG; all other TKG business units have been divested.

Development of Shoutmouth began in August 2006 and the site officially launched on February 21, 2007. Shoutmouth (located at www.shoutmouth.com) is the most comprehensive music news community on the Internet. The website covers 1,200 popular bands and music artists and offers more than 100 new music articles each day. In addition to providing news, Shoutmouth is a web community. That is, Shoutmouth members can actively participate on the site, by doing things such as commenting on news stories and submitting their own stories.

The Market Size and Need for Shoutmouth

The music market is clearly vast. According to IFPI, which represents the recording industry worldwide, global music sales were $33.5 billion in 2005, with the U.S. accounting for $12.3 billion of that amount. Importantly, digitally music sales are seeing substantial growth, with IFPI reporting sales of $400 million in 2004, $1.1 billion in 2005 and $2 billion in 2006.

Online, music is the one of the most frequently searched and accessed interests. For example, according to Wordtracker, the music artist Eminem received over 1.7 million web searches in December 2006, while band Green Day received 534,000 searches.

To put these figures in perspective, top celebrities in other entertainment fields receive but a fraction of this search volume. For example, December 2006 search volumes for select sports stars and actors were as follows: Kobe Bryant, 122K; Tiger Woods, 88K; Cameron Diaz, 332K; and Tom Cruise, 82K.

Conversely, 225 music artists received over 100,000 searches in December 2006, and over 500 music artists received over 25,000 searches.

This data is corroborated by Nielsen BuzzMetrics which plots the most popular topics bloggers are posting about. The chart to the right plots September 25, 2006 to March 25, 2007 and shows how music dominates other entertainment sectors online.

When searching for music artists online, fans, which are primarily between the ages of 13 and 35, are looking for news, pictures, lyrics, videos and audio files. In addition, fans enjoy publicly voicing their opinions about music and interacting with other fans.

There is currently no website besides Shoutmouth that provides comprehensive music news. Currently, to get the latest news on their favorite artists, fans must visit the official websites or fan websites of each of the artists they like . Even then, it is unlikely that the fan will get all the news that has occurred. To solve this problem, Shoutmouth scours the web and uncovers news from thousands of web sites.

What Shoutmouth Does and Will Offer

As of May 2007, the site covers the 1,200 most popular music artists (popularity primarily based on the number of web searches over the past 12 months for each artist).

Shoutmouth currently offers members the ability to:

• Read over 500 new music articles each week
• Read special features such as album reviews, interviews, new album release dates, top quotes of the week and other special reports
• Watch and rate music videos
• Listen to select music audio clips
• Comment on news stories and music videos
• Submit news stories that they see/hear of elsewhere
• Suggest new music artists to add to the site
• View articles by music artist or by genre (current genres include Rock, Pop, Rap, R&B, Country, and Electronic)
• Create a user profile that includes their favorite music artists, Shoutmouth friends, news stories submitted to Shoutmouth, and comments made. Members have the ability to find other members based on their favorite artists and via our search functions.
• Receive customized news and email alerts. Members can customize their “My News” page to include only artists they specify. Likewise, they can choose to receive email alerts whenever there is a new story on one of their favorite artists.

While establishing itself as the premier music news community, Shoutmouth will embark on the more aggressive goal of becoming the premier music community online . To accomplish this, Shoutmouth will begin to offer additional content (more videos, audio, pictures, lyrics, etc.) and additional functionality (music compatibility testing (e.g., if you like this, you’ll like this), voting capabilities, member-to-member messaging, etc.). We have already begun mapping out our content and technology growths plans to achieve this goal upon financing.

Importantly, Shoutmouth expects to be able to add massive amounts of relevant content (e.g., lyrics, reviews, pictures, video files, audio files, etc.) via member submissions and moderation. This is the same way that YouTube has been able to quickly add millions of videos and Wikipedia has been able to add millions of articles. Importantly, since established music websites (e.g., MTV, RollingStone.com, Billboard.com, etc.) are not community based, they would have to hire thousands of staff members to rival the content that Shoutmouth will have.

How We Get and Publish Our News

Currently, news stories that appear on Shoutmouth are gathered from numerous online sources. Shoutmouth’s staff writers find these stories by using RSS and News feeds that cover thousands of websites. In addition, Shoutmouth community members have the ability to submit stories they find elsewhere.

Typical stories include factual information plus the insight of the author. Shoutmouth editors ensure that all stories are properly classified by artist and genre, and that duplicate articles are filtered out.

Over the past three months, Shoutmouth has developed a solid infrastructure, which we consider a core competitive advantage, that that allows us to provide comprehensive music news . This infrastructure includes:

• Setting up hundreds of RSS feeds based on comprehensive research regarding sites from which to receive feeds
• Training our editorial team regarding identifying a story and weeding out duplicates
• Assigning music artists among our five-person editorial team to better manage work flow and avoid duplicate articles

We are working on a system to ensure that member-submitted articles are automatically routed to the appropriate member of Shoutmouth’s editorial team to improve our efficiencies further.

Shoutmouth’s Goal to Break News First

The majority (approximately 90%) of Shoutmouth’s articles are currently developed by our in-house editorial team, while the balance is submitted by members. In addition, virtually all of our articles are based on information gleaned from other websites. As such, we are generally not the first to publish news; however we are the first and only site to publish all the news in one easily-accessible place. The one current exception is news which is published on bands’ official MySpace pages; Shoutmouth generally publishes articles on this news 24 to 48 hours before it is reported by other news or music sites (due to our efficiencies in finding news).

Shoutmouth realizes that it will gain a key competitive advantage, and will generate significant market buzz, if it is able to report on music news stories before other media sources . To accomplish this, we have begun contacting publicity departments at record labels to gain direct access to music news. We expect these contacts to enable us to gain immediate and sometimes exclusive access to news which will help further establish Shoutmouth as the canonical source for music news. We also plan to more aggressively solicit member submissions of new, buzzworthy news events and will consider offering rewards for unique substantiated news (much the way paparazzi are compensated).

III. Competition in the Online Music Market

This section of the business plan provides a competitive analysis, which is an overview of the competitive landscape, discusses both indirect and direct competitors and then details Shoutmouth’s competitive advantages.

Because consumer demand for music on the Internet is so great, there are a vast number of music websites. In summary, we consider most sectors of the online music market (which are discussed below) to be indirect competitors and potentially partners, rather than direct competitors, because none of them focus on music news.

The reason we believe that no one focuses on music news is that it is very difficult to do. Because news is very important to music fans, most music websites offer news. However, they primarily get their news from organizations such as CNN, Reuters, the Associated Press and BBC. These large organizations only write about the music stories that have mass appeal, which traditionally amounts to 8-10 music news stories per day. However, since music fans are often zealots when it comes to their favorite artists, they are not merely interested in cover stories. For instance, a U2 fan cares about any U2 news, particularly news that a non-U2 fan might consider insignificant.

In fact, because Shoutmouth is the sole one-stop shop for getting comprehensive music news, there might be an opportunity to license our content to other music websites.

Sectors of the Online Music Market

Shoutmouth specifically comPs in the community-based music news market. While players in this market represent direct competitors, Shoutmouth faces indirect competitors in the following markets:

• Community-Based Sites
• Community-Based News Sites
• Community-Based Music Sites
• Traditional Music Websites
• Official Artist and Fan Sites

Each of these markets is described below.

A. Community-Based Sites

Community-based sites, also known as social networking sites, are websites in which members can create profiles, leave comments throughout the site, and communicate with other members among other features.

A June 2006 report by Piper Jaffray entitled “Silk Road: Social Networking is Here to Stay” effectively sums up the power and longevity of social networking:

“We believe social networking sites have become a permanent part of the fabric of web applications and are rapidly becoming one of the most popular activities online, potentially impacting how other popular services such as email, IM, and maybe even search are accessed.

As a clear indication of the growth rate and scale of social networking, consider this: MySpace monthly page views have now surpassed MSN or AOL in the U.S. and are nearly 75% of the size of Yahoo!. Social networking has filled a gap that was left by all the existing portals and web services and it is fulfilling a very important and basic function for millions of users: allowing them to express themselves and connect with their friends, with the two functions tightly integrated.

The leading sites such as MySpace (News Corp), Facebook, and others are amassing significant power in the new landscape of the Internet and the existing Internet companies are likely to have to work with these newcomers as they may yield material control on the flow of traffic to other applications.”

Social networking sites such as MySpace.com, Facebook.com, Tagged.com, and TagWorld.com have educated consumers regarding the value of these sites and how to use them. Their success has spurred genre-specific social networks such as community-based/social networking news sites and music sites, which are discussed below.

Shoutmouth doesn’t view established social networking sites as competitors since these sites have a general focus. That is, members talk about all aspects of life, from dating to music to movies, etc. Conversely, Shoutmouth is solely focused on music.

B. Community-Based News Sites

Community-based news sites are sites in which members decide what’s newsworthy and what’s not. For instance, on Digg.com, the most prominent community-based news site, members “Digg” stories that they feel are most newsworthy. The stories that the community feels are most important rise to Digg’s homepage, while less important stories get little attention.

Digg’s one million members can submit stories, “digg” stories, and comment on stories. Digg focuses on general news with a slant towards technology, gaming and unique/sensational news. While Digg does have a Music area within its Entertainment section, this receives little focus. In fact, at the time of the writing of this plan, Digg’s music home page only includes one article submitted within the past 48 hours. Furthermore, Digg doesn’t pare down the music category into sub-categories such as Rock and individual music artists. Conversely, these sub-categories are the entire focus of Shoutmouth.

Other sites that are similar to Digg include Newsvine.com, Spotback.com and Gabbr.com. Of most relevance is the Digg-like site for music, Noisetap.com, which was launched by Ticketmaster in January 2007.

Like Digg, Noisetap.com allows members to submit and vote for music stories. Noisetap.com is organized by music genre and not by music artist. This most likely will not satisfy the needs of many music fans since they don’t have the ability to find news on the specific artists they care most about. Likewise, without a full-time staff actively researching and publishing news stories at the artist-level, Noisetap.com will never be able to offer the comprehensive news that Shoutmouth does.

While Shoutmouth is currently similar to community-based news sites in that members can submit stories and comment on the news they find most interesting, no established player in the market provides a comprehensive focus on music. In addition, Shoutmouth sees these sites as marketing partners as we have and will continue to submit our stories on them to increase our readership.

C. Community-Based Music Sites

There are many community-based music websites, although none focuses on music news such as Shoutmouth. Conversely, these sites generally give members the ability to create and listen to song play lists. The community acts to help individual members find new music and new friends based on similarities in their music tastes. Prominent sites in this genre include Last.fm, Finetune, Pandora, RadioBlogClub, MyStrands, iLike[1] and iJigg.

Last.fm is the most prominent community-based music site and is a good model with which to compare Shoutmouth. Likewise, we will benchmark our performance against Last.fm as we reach of goal of becoming the premier music news community and focus on becoming the premier music community.

According to Alexa, Last.fm is the 359th most visited site on the Internet. While Last.fm focuses on allowing members to create customized Internet stations based on their music tastes, the site has much additional content and social networking features. For instance, for each artist, Last.fm includes pictures, a bio, concert dates, discography, fans on Last.fm, and similar artists. Fans are also able to create journals and communicate with other fans. Key features that Last.fm doesn’t currently focus on include news and video.

D. Traditional Music Websites

Traditional music websites such as MTV.com, RollingStone.com, Billboard.com, NME.com, AOL Music, and Yahoo! Music tend to have many features such as news, reviews, pictures, videos and audio. While these sites are generally very well done and extremely popular, they are under-serving visitors in two core areas: music news and community .

These sites’ lack of music news stems from the difficulty in creating this news, specifically that it requires filtering through thousands of articles and websites to find relevant stories. Likewise, as discussed, these firms might wish to license our news content in the future.

Regarding community , none of the top music sites are thriving communities. Rather, either these sites offer no community features or they recently began offering select features (e.g., submitting reviews or commenting on articles). Even when available, the community features on these sites are afterthoughts and are not engrained within the core fabric of the sites.

While they haven’t been able to transform their current sites into communities, top music websites clearly understand the power of online music communities and have an appetite for them. For example, in January 2007, MTV invested in social networking website TagWorld. MTV also acquired RateMyProfessors.com and Quizilla.com (teen social network) in January 2007 and October 2006 respectively.

As mentioned previously, our vision is to build and incorporate additional technologies, and use our “army” of members to publish vast amounts of music content on Shoutmouth, in order to fully satisfy music fans and leapfrog traditional music sites in terms of their music content.

E. Official Artist and Fan Sites

Shoutmouth com’s with official music artist websites and fan websites. These sites often include news about the specific artist as well as pictures, videos and other relevant information.

On one hand, official music artist and fan websites are direct competitors to Shoutmouth. This is because some of these sites offer comprehensive news on the specific artist they cover. In addition, many offer forums, discussion boards or other ways to communicate with other fans.

However, two factors separate Shoutmouth from these types of sites: 1) breadth and 2) sophistication.

• Breadth : Most music fans love more than one artist. As such, in order to get the news they want, they would have to visit/join multiple fan or artist websites rather than getting all of their news from Shoutmouth.
• Sophistication : While some official music artist websites are technologically sophisticated, offering forums, networking and other worthwhile features, the majority of artist and fan websites have limited usability, functionality and networking ability. In fact, this deficiency has lead to the success of MusicToday, which provides front and back-end technology to power artist websites.

Specifically, MusicToday offers web design and hosting, develops sophisticated online stores, builds online fan clubs and offers web ticketing among other services to select top music artists such as Dave Matthews Band, Christina Aguilera, Kenny Chesney, Britney Spears and Usher. While offering sophisticated tools for select music artist websites, MusicToday offers little to no music news nor advanced social networking functions. For instance, the official Dave Matthews Band website offers less than one news story per month.

F. Direct Competitors: Community-Based Music News Sites

Shoutmouth’s direct competitors are other music news websites that have social or community features that allow users to join the site, submit articles, comment on articles, create public profiles and/or communicate with other members. Shoutmouth has identified one significant player who offers this service, AbsolutePunk.net.

AbsolutePunk.net has done a good job of building a user base (the site claims 125,000+ registered members and nearly 500,000 un-registered members). In addition, the user base is very active — the average story on their site receives approximately 20 comments. AbsolutePunk.net offers music news, reviews, pictures and interviews among other features.

On the negative side, AbsolutePunk.net’s articles are generally posted by one staff writer (as opposed to Shoutmouth’s five writers), most articles are simply one sentence posts rather than full articles, and no attempt seems to have been made to cover all news stories. In addition, the site only covers the punk music genre. Although “punk” is broadly defined on the site, the site doesn’t cater to genres such as R&B, rap and country among others, failing to satisfy the broader market.

AbsolutePunk.net is owned by Indieclick, a Los Angeles-based media company. According to the AbsolutePunk.net website, the site:

• Has developed a loyal (72% return rate) reader base
• 5,182,147 Posts
• 163,535 Threads
• 126,448 Members
• 1,711 Artist Profiles
• 20,774 Multimedia Files
• Approx 76,000 visits per day.
• Approx 276,000 pageviews per day.

Shoutmouth’s Competitive Advantage

In addition to being the first to fill the untapped market void for comprehensive music news, Shoutmouth’s competitive advantage in the market primarily includes the following:

Online Marketing Sophistication

Content Development Experience and Expertise

Shoutmouth’s team, primarily team members DL and PF, has operated an affiliate marketing business focusing on music for the past four years. Affiliate marketing is defined as a system of revenue sharing between one site (the affiliate) which features an ad or content designed to drive traffic to another site (the merchant). The affiliate receives a fee based on traffic to the merchant which converts to sales.

Our affiliate business has focused on connecting music fans, primarily aged 13 to 30, with music offers such as iPods and ringtones. Over the past two years, we have successful sold affiliated offers to over 500,000 customers. We have become a significant online advertiser, receiving Google’s “over 1 million leads” award, and are recognized as a major player among the top affiliate networks.

It is important to note that affiliate marketing success has been credited with part of MySpace’s success. This is because effective affiliate marketers understand how to drive and convert on Internet traffic.

Shoutmouth will employ its affiliate marketing techniques to drive traffic to Shoutmouth.com and enroll members. We will utilize technologies and proprietary techniques that allow us to monitor multiple metrics such as the cost per visitor, cost per member sign-up, etc., so that we can set and maintain profitable metrics.

Another venture that Shoutmouth team members, primarily PK and DL, launched was the development of over 3,000 niche websites. To create the content for these websites, we employed a virtual work force of over 90 researchers in India and 30 writers and editors in the US.

This experience taught us how to manage a large workforce, train writers to improve content quality and motivate a large group of people. These skill sets will be critical in allowing Shoutmouth to grow the content of the site, as developed by both staff and members, while maintaining quality standards.

IV. Marketing Plan

Shoutmouth’s marketing plan includes the following:

Online Advertising : Shoutmouth will initiate pay-per-click advertising campaigns on Google and Yahoo! in order to inexpensively drive traffic to the site. Specifically, Shoutmouth believes it can drive qualified traffic to the site for 20 cents per visitor and achieve a 20% member conversion rate, thus generating members at a cost of $1.00 per member.

Keys to Shoutmouth’s success in achieving this metric include:

• Conducting thorough keyword research and advertising on appropriate keywords and keyword groups
• Creating advertising text that maximizes click through rates
• Creating landing pages that maximize conversions while maintaining the highest Google AdWords quality score possible
• Closely monitoring conversions to quickly stop and/or modify unprofitable campaigns
• Getting individuals to enter their email address to join the newsletter is much easier than getting them to join a site where they have to create a username, select a password, etc. As such, step one will be to get visitors to sign up for artist-specific newsletters.
• Once on the newsletter distribution list, members will constantly receive messages (embedded in their daily newsletter) regarding the benefits of participating more on Shoutmouth.
• Active Shoutmouth Membership: the constant reminders regarding Shoutmouth’s value proposition in the daily newsletters will influence members to participate more actively on the site (e.g., customize their profile, visit the site more often, etc.).

Invite-A-Friend : Shoutmouth is in the process of creating an aggressive invite-a-friend/member referral program. In doing so, we are following the lead of social movie community, Flixster, which grew to 5 million members within 10 months. It did this by encouraging members, during their initial registration process, to upload and send an invitation to multiple contacts in their email address books. The technology to develop this process is fairly complex and we expect to be completed with and to rollout this program in June 2007.

Direct Email Marketing : Shoutmouth will directly contact bloggers and prominent music fans we find online to tell them about Shoutmouth, encourage them to join, and encourage them to write about Shoutmouth on their blogs and online journals .

Creating/Distributing Buzzworthy/Viral Content : Shoutmouth plans to have several buzzworthy/viral articles (i.e., content that people would want to email to their friends since it is funny, interesting, etc.) on the site each day. With a single click, visitors will be able to send these articles to social bookmarking sites such as Digg.com or Fark.com, where these articles could receive widespread attention. In addition to our traditional news stories, Shoutmouth will also periodically create special reports/features in order to satisfy our members and visitors and to try to get widespread exposure.

An example of the power of such buzzworthy content, Shoutmouth has already succeeded in having two stories accepted by Fark and Digg, which have brought in over 50,000 unique visitors.

Super Fans/Street Team Development : Shoutmouth also plans to recruit “super fans.” Super fans are individuals who are passionate about a certain music artist/band and actively contribute articles and/or comments on Shoutmouth. We will recruit these fans, reward them with status (e.g., adding a gold Shoutmouth headphones image to their profile page) and encourage them to more aggressively promote the site by:

• Submitting more news to Shoutmouth
• Commenting on more articles on Shoutmouth
• Growing the Shoutmouth community around their favorite artist(s) by actively recruiting new members to join the site (such as actively posting Shoutmouth-related comments on their MySpace pages, on other music forums, etc.)

Public Relations : Upon financing, Shoutmouth will hire a public relations firm to help us get mentions in media sources ranging from magazines, newspapers, radio, television and blogs. To date, we have developed and issued press releases via Billboard Publicity Wire which have been syndicated throughout the web. An effective PR firm will enable Shoutmouth to quickly reach a wide audience.

Widgets : Shoutmouth will create artist-specific and genre-specific music news widgets. For example, our U2 widget (see example on right) would include all of the recent U2 articles published on Shoutmouth. The widget can easily be placed on MySpace pages, blogs, etc. Each story title in the widget links to the full article on Shoutmouth.

Shoutmouth has great expectations for our widget. To begin, no such widget currently exists as there is no one place to get comprehensive news for specific music artists. Secondly, each time someone places a Shoutmouth widget on their blog or social networking page, it will effectively market Shoutmouth to a wide audience at zero cost to us.

V. Technology/Site Development Plan

This section provides a brief roadmap of the initial and future functionality of Shoutmouth.

Initial Site Functionality

The initial Shoutmouth website will include the following features:

• Ability to submit and comment on news stories
• Ability to suggest new music artists to add to the site
• Ability to create user profiles
• Ability to receive customized news and email alerts
• Articles categorized by artist and core genre (e.g., Rock, Rap, Pop, etc.)
• Music artist sections which includes News, Bio and Fans

Future Site Functionality

Shoutmouth will use news and basic functionality as the platform though which we will build a thriving music community. After initial launch, the Shoutmouth technology team will work on incorporating additional features such as:

• Ability to message other members via the site (e.g., members will have an Inbox on the site)
• Event calendars: members will receive online calendars. With the click of a button, the member will be able to add tour dates of their favorite artists/bands to their calendar.
• Articles also categorized by sub-genre (e.g., Alternative Rock, West Coast Rap, etc.)
• Music artist sections to also include videos, audio files, photo galleries, reviews and event calendars to which members can upload files and vote on top content.
• Forums and member blogs
• Music compatibility testing (suggestions on song/artists members might like)
• Trivia quizzes
• Music playlists

VI. Financial Plan

Revenue Model

During the first six months, Shoutmouth will not generate any revenues as it will not sell advertising space nor offer products for sale. This decision has been made to spur the growth of the Shoutmouth community. By initially positioning Shoutmouth more as a non-profit, for-the-people-by-the-people venture, members will be more prone to promote the site and invite their friends than if the site looks too commercial.

Starting in September 2007, Shoutmouth will primarily generate revenues from selling advertising space. As technologies (such as the Snocap music widget) evolve that allow us to seamlessly integrate music sampling and purchasing on our site, sales of downloadable music are also expected to be a significant revenue source. To a lesser extent, we may sell other music-related items such as ringtones, concert tickets, and apparel.

Funding To Date

To date, Shoutmouth’s founders have invested $500,000 in Shoutmouth, with which we have accomplished the following:

• Built the site’s core technology
• Hired and trained our core staff (we currently maintain an 11-person full-time team)
• Populated the website with content (over 10,000 articles and 1,200 artist bios)
• Generated brand awareness among music fans, including driving 50,000 unique visitors in March, 100,000 unique visitors in April, and 200,000 unique visitors in May 2007.

Funding Requirements/Use of Funds

Shoutmouth is currently seeking $3 million to provide funding for the next 24 months. At this point, the site will be profitable and can grow organically, or additional capital may be sought to more aggressively expand our member base.

The capital will be used as follows:

• Execution of Marketing plan : in order for Shoutmouth to grow its visitor and member base, we need to invest dollars in online advertising and public relations. With regards to online advertising, we are confident that we can enroll members at a cost of $1 per member, which is a fraction of the value of the members to an acquirer (minimum $25 per member), thus providing a significant return on our marketing investments.
• Execution of Technology plan : in order to build a thriving community, Shoutmouth needs to offer its visitors a “stickier” website and enhanced features. We currently maintain a vast “wish list” of features, such as members uploading and rating pictures and videos, trivia quizzes, and member-to-member messaging, that will significantly improve the site’s functionality and value proposition.
• Staffing : In order to reach our goals, we will have to hire additional technical and operations personnel.

Financial Projections

Below is an overview of Shoutmouth’s Financial Projections for the next three years. Please see the Appendix for the full financial projections and key assumptions.

Exit Strategy / Valuation Metric

Shoutmouth’s most likely exit strategy is to be acquired by a traditional music website or property (e.g., Viacom/MTV, Ticketmaster, Rolling Stone), an entertainment/media conglomerate (e.g., Yahoo!, IAC/InterActiveCorp, NBC), or a large social networking site (e.g., News Corp/MySpace).

This strategy is supported by the significant M&A activity in the social networking market, which includes the following transactions over the past 24 months:

Regarding valuation, below are the estimated valuations of social networking companies on a per member basis upon exit:

• Del.icio.us: $50 – $100 per member
• MySpace: $25 per member
• Xing (business social network): $137 per member at IPO in 10/06
• Flickr: $56 – $130 per member
• Grouper: $130 per member

Based on this data, not only are social networking sites a promising investment, but sites that can acquire members for less than $25 each (a conservative valuation estimate based on the figures above), should earn a solid return on investment. As discussed above, Shoutmouth’s goal is to acquire members for no more than $1 each.

In addition, per the membership projections above, Shoutmouth’s valuation at the end of 2009, at a $25 valuation per member, is expected to be $239 million. A more conservative, using a 24.4 time EBITDA multiple (the average multiple of tech M&A deals in 2006 according to The M&A Advisor), yields a $121 million valuation in 2009.

Shoutmouth’s founding team includes entrepreneurs and managers with a track record of success and a history of successfully working together.

Management Team

DL, Co-Founder and CEO

D has a history of successfully launching and growing businesses of all sizes. As president and co-founder of an entrepreneurial services firm., D has personally assisted in the launch and development of over 100 ventures.

Over the past three years, D founded and has managed The Kisco Group which includes an affiliate marketing division (2006 revenues exceeded $3 million), a search engine optimization business which includes a network of 3,000 websites (2006 revenues exceeded $500,000) and an e-commerce business (which includes TopPayingKeywords.com and ShowerHeadsEtc.com).

D earned his Bachelors degree from the University of South Carolina.

PK, Co-Founder and Vice President of Operations

For the past two years, P has managed The Kisco Group’s search engine optimization business where he hired, trained and managed nearly 100 employees and a dozen outside firms. During this time, P has honed his management skills with regards to content development, marketing and operations.

P has had a passion for music since childhood and has been a semi-professional drummer for the past 15 years.

P earned his Bachelors of Arts degree, magna cum laude, from Clemson University.

PF, Co-Founder and Vice President of Technology

For the past year, P has managed The Kisco Group’s affiliate marketing business. In addition to setting up and managing widespread marketing campaigns, P has developed sophisticated analytic techniques to precisely analyze web traffic in order to optimize profitability.

Since August 2006, P has shifted his efforts and leveraged his technology skills in developing the Shoutmouth website. P has been instrumental in selecting the Content Management Platform upon which Shoutmouth is built, and finding and managing the technology team.

P earned his Bachelor of Arts degree from Swarthmore College.

AB, Marketing Manager

A’s background in music includes being a singer, songwriter, guitarist and producer. He has also worked on the marketing side of music, having marketed Veritas Records through the development and distribution of promotional materials.

A’s career also includes psychological research and administration, having served as a Research Assistant with the Interpersonal Perception And Communication Laboratory in Cambridge, MA.

A earned his Bachelor of Arts degree in Psychology from Ohio State University.

M, Lead Technology Developer

M is an experienced web programmer with expertise in web design, application development and database development among others.

M’s work experience includes serving as a Senior Developer at Spheres. M has also engaged in multiple, long term freelance projects including serving as a Database Developer Consultant with The Penn Group and a Web Developer Consultant with Volution Media Group and Allied Online Consulting Group.

M earned his Bachelors degree in Computer Science with a minor in Cognitive Science from Rutgers University.

Content Development Team

Shoutmouth’s writing team, managed by PK, includes the following members:

• JS, Editorial Manager: former content manager and copywriter for Scholastic Inc. and Promotions.com.
• TZ: former music intern (Virgin Records and WRRV) and author of the blog, The Tom Z Show .
• ML: former assistant editor for Adventure Publishing; author of the blog Certified Gangsta ; and former editor-in-chief of Fordham University’s newspaper The Paper .
• SB: former staff writer for Paste Magazine , The Clarion Ledger , and Nightclub and Bar Magazine among others.
• CSJ: former editorial intern for Rolling Stone and Editorial Assistant for Psychology Today .

Outsourced Technology Team

Shoutmouth works very closely with 2skies, a technology firm based in Australia with staff in Australia and the United States. 2skies is run by JDN, one of the co-founding developers of XE, the platform upon which Shoutmouth is built.

XE is an extensible, Open Source web application framework written in PHP and licensed under the GNU General Public License. XE delivers the requisite infrastructure and tools to create custom web applications that include fully dynamic multi-platform Content Management Solutions (CMS).

VIII. Appendix: Shoutmouth Financial Projections   3-Year Income Statement

3-Year Balance Sheet

As of December 31

3-Year Cash Flow Statement

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The 3 year plan: Build a roadmap to success

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What’s a 3 year plan?

15 questions to ask yourself before creating a 3 year plan

How to make a plan, 3 year plan examples, plan for success.

Where do you want to be three years from now? 

Perhaps you want to transition to independent contracting or ascend to a C-suite position. Or maybe you want to leave your company and go at it alone. No matter how you imagine your future, a surefire way to inch closer to your career objectives is by mapping it out step-by-step, year by year. 

Creating a detailed 3 year plan is a useful strategy for visualizing short-term professional aspirations and charting a course to achieve them. Tracking your progress helps you work with purpose, find a sense of accomplishment, and prioritize tasks that contribute to your end goal.

What’s a 3 year plan? 

A 3 year plan is a series of strategic and specific actions aimed toward a particular goal or objective. It’s a course designed to help you manage your decision-making and resource allocation to ensure you’re working toward the desired outcome. 

With a clear action plan that centers specific goals in your planning, you’re empowered to make decisions that support your end target and deprioritize work that doesn’t contribute. Developing a plan with structured goals is a great way to work with more intention — plus, it encourages organization and time management in your day-to-day work. 

A 1 year or 2 year plan can help you map out short-term career goals. Maybe you want to learn a programming language or earn a certification to help you stand out from your peers. And for big career transitions or life-altering aspirations, such as becoming a certified actuary or launching a startup, a 5 year plan or 10 year plan may be a more realistic timeline. 

A 3 year plan is useful for starting on long-term goals related to personal or professional development, like implementing a personal brand strategy or enhancing an industry-specific skill. They must be attainable within the three-year timeframe without dragging on for too long. 

Effective goal planning requi res you to reflect on your starting point and future objectives. You don’t want to decide on a 3 year plan impulsively — this time frame is a serious commitment. 

Thinking deeply about your goals encourages you to stay realistic and build a plan that fits into a long-term mission. Here are some questions you should ask yourself to reveal your most pressing aspirations:

What are the ethical values and principles that guide my career path ? 

What’s my long-term personal vision and life plan ? How does a 3 year plan fit into these? 

How can I explain my goal in a concise mission statement? 

What specific goals, expertise, or know-how do I want to develop or improve in the next three years? 

Are there any specific certifications or degrees I want to pursue? 

Does my plan fit into other career milestones, such as an internal promotion , a leadership role, or industry recognition? 

How could I build a networking plan to help me achieve my goal? 

Do I have a community of friends and colleagues who can provide me with emotional support? 

How can I break my final goal down into smaller milestones?

What financial resources do I need to dedicate to my goal? 

How much time do I need to dedicate per day, week, or month to reach my goal? 

Do I need to turn to a mentor or career coach for guidance? 

Which key performance indicators and metrics can I use to measure my progress? 

What obstacles stand in my way? Do I have money or time constraints, a skill gap, or a lack of self-confidence ? 

How regularly will I monitor my progress? Will I set weekly goals, monthly goals, and quarterly goals? 

Three years might sound like a small amount of time in the grand scheme of your career. But, when used effectively, it can be a significant period for setting and achieving professional goals. 

Here’s how to develop a strategic 3 year plan to propel you forward in your profession:

1. Understand the ‘why’

Think deeply about what you really want and why you want it. 

Knowing you hope to improve your communication skills, for example, empowers you to define specific skills to practice, like negotiation or active listening. But understanding the “Why” can help you deepen your development plan. Improving your communication skills to get larger pledges from fundraisers is a more specific goal. With this knowledge, you might join a workshop to improve your storytelling or have a weekly goal to cold call one new high-value donor. 

Likewise, according to self-efficacy theory , setting goals that make you feel in control makes you more likely to achieve them . Let’s return to that fundraising example. If you want to improve your communication skills because you feel pressured to bring in bigger donors, you’ll likely struggle to stay motivated . But when you set your own goals, you’re more likely to take negative feedback in stride and build stronger strategies for success. 

2. Find the one

Goal-setting theory suggests that specific and challenging goals consistently lead to higher performance . But too much of anything — including ambition — can be counterproductive. 

Goal shielding theory suggests the mind naturally sheds goals when you have too many at once . As you successfully advance towards one goal, you tend to ignore or abandon the others . To do your best work, narrow down your objective to one core focal point. It’ll encourage you to maintain clarity and avoid feeling overwhelmed and burnt out . Later in the planning process, you can break down your larger focal goal into several smaller complementary goals, if necessary. 

3. Research, research, research

How realistic is your goal? Do some due diligence before you get started to ensure your objective is within reach. 

Beyond researching any financial, resource, or time commitments, look into the strategies you need to adopt to achieve your objective. A web developer who wants to become proficient in a new programming language may need to connect with a coach and improve their time management to balance work with their learning objectives. 

Likewise, research courses, workshops, and groups to support your efforts. Following people in your industry on LinkedIn or meeting new colleagues at networking events allows you to glean advice from other people’s successes. 

4. Prepare a contingency plan

Lots of things can change over the course of three years. Your 3 year strategic plan should anticipate interruptions, roadblocks, and changes. Here are a few obstacles that might pop up unexpectedly:

Time constraints: Carefully analyze your daily, weekly, and monthly schedules. How much time can you realistically dedicate to your 3 year plan? Are there times in the year when you have more or less time? Maybe your job gets busy at the end of the year, and you’ll need to take a break or work less on your final objective. Or perhaps certain months are always slow — and that’s when you can bulk up your dedication. 

Steep learning curve: A 3 year plan is a big goal. Maybe you’re laying the groundwork for a small business or teaching yourself a new coding language. Reaching your objective may be more complex than you initially anticipated, so look into resources that can support you if things go south. This way you can maintain the energy you need to keep yourself in a growth mindset no matter what challenges arise. 

Blows to motivation: Staying motivated and consistent throughout a three year career journey isn’t easy for anyone. Consider what keeps you motivated and work that into your 3 year plan. Join a professional community that will celebrate your milestones with you. And break your goal into small, achievable initiatives to keep your enthusiasm high and visualize your progress. 

Burnout: Hitting your goal shouldn’t sacrifice your well-being. Take breaks when you need them, practice self-care, and maintain a work-life balance. Prioritizing yourself helps you respond better to stress that could otherwise derail your progress.

5. Break your plan down

Using the SMART goal-setting framework , break your 3 year objective into smaller steps. Each step should be:

A helpful way to envision each step is to move backward. Break your final objective down into progressively smaller achievements and milestones. Setting yearly, monthly, and weekly goals encourage you to consistently check in on your progress. 

T o stay motivated, consider sitting down each Monday and reviewing your goals for the week. Establishing a routine can transform a hard-to-imagine 3 year pl an into a more attainable daily habit. 

Let’s look at two examples of 3 year plans and explore them in more depth. You can use these plans as inspiration or as templates and edit them based on your goal. 

Transition to freelance work: year-by-year

Imagine a data analyst who works full-time for a marketing agency and wants to fully transition to independent contracting. Here’s a possible 3 year plan template with yearly goals: 

Year 1: Create a financial plan to comfortably leave a full-time salary, identify weaknesses and improve your skill set, and define a target market to improve your professional network. 

Year 2: Create a professional website and revamp your personal brand, establish an LLC, and use a professional network and portfolio to line up new clients.

Year 3: Schedule out projects for the remainder of the year, transition out of your full-time job, and continue professional learning and self-promotion.

Transition to freelance work: month-by-month

Let’s break this plan down further. Here’s what monthly goals might look like for year one:

January: Research and evaluate finances, including your desired income, and budget a savings buffer.

February: Audit your current skill set and define areas for improvement. Research relevant courses and workshops to upskill and re-skill. 

March: Attend industry events and actively engage with professionals to identify the best target market. 

April: Sign-up for a two-month intensive course in artificial intelligence for qualitative and quantitative research. 

May: Practice verbal presentation skills for the Q2 quarterly meeting and ask colleagues for feedback while completing your course. 

June: Speak with your manager about opportunities to take on more client-facing roles and gain hands-on experience as you finish the course.

July: Evaluate progress in the first six months of year one. Review financial plans and evaluate changes for the rest of the year. 

August: Continue attending industry events and expanding your professional network. 

September: Begin a three-month Google Analytics certification course. Set aside 10 hours per week to dedicate to coursework. 

October: Continue the Google Analytics certification course. 

November: Complete the Google Analytics course. Evaluate your progress in year one, review your financial plan, and make necessary adjustments to the year two plan. 

December: Take a break to focus on end-of-year work responsibilities and the holiday season. 

Break down each year like this as you progress to continue moving toward your overarching objective. 

Some of your career dreams might feel lofty. After all, you’re pushing yourself past your comfort zone and imagining a new and different professional future. But you can get there — all you need is a good map. 

Depending on your goal, a 3 year plan may be the right time frame to make significant changes to your career path. Think carefully about the ‘what,’ the ‘why,’ and the challenges you may face. Take stock of your current resources and note what you’ll need to get from A to B. And don’t forget to set a concrete plan for maintaining your wellness along the way.

All if this careful attention to detail will help you build a strong and impactful plan to turn your dream into a reality. The next step? Getting started.

Transform your life

Make meaningful changes and become the best version of yourself. BetterUp's professional Coaches are here to support your personal growth journey.

Elizabeth Perry, ACC

Elizabeth Perry is a Coach Community Manager at BetterUp. She uses strategic engagement strategies to cultivate a learning community across a global network of Coaches through in-person and virtual experiences, technology-enabled platforms, and strategic coaching industry partnerships. With over 3 years of coaching experience and a certification in transformative leadership and life coaching from Sofia University, Elizabeth leverages transpersonal psychology expertise to help coaches and clients gain awareness of their behavioral and thought patterns, discover their purpose and passions, and elevate their potential. She is a lifelong student of psychology, personal growth, and human potential as well as an ICF-certified ACC transpersonal life and leadership Coach.

How to write a 10 year plan (with examples) and reach your goals

What’s relationship coaching how to find a coach, dare to daydream: how to overcome lack of ambition, habit stacking: what it is and 5 examples, are you reaching your full potential a guide to personal development, how to make an action plan to achieve your goals and follow it, 9 meaningful life goals to pursue for long-term fulfillment, what causes a lack of motivation plus 9 tips to get it back, how to get your life together in 10 simple steps, similar articles, do goal statements actually work find out here, how to write a professional development plan for career success, how to develop a personal development plan (pdp) to reach your goals, going somewhere write the 5-year plan you need to achieve it, 22 workplace goals examples to strive for, 15 leadership challenges you need to take this year, what is a career statement, and should you write one, goals vs. objectives: how to use both to drive change, stay connected with betterup, get our newsletter, event invites, plus product insights and research..

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Use This Simple Business Plan Outline to Organize Your Plan

12 min. read

Updated April 10, 2024

When starting a business, having a well-thought-out business plan prepared is necessary for success . It helps guide your strategy and prepares you to overcome the obstacles and risks associated with entrepreneurship. In short, a business plan makes you more likely to succeed.

However, like everything in business, starting is often the hardest part. What information do you need? How in-depth should each section be? How should the plan be structured?

All good questions that you can answer by following this business plan outline. 

• What is a business plan outline?

A business plan outline is similar to most business plan templates . It lists the common sections that all business plans should include.

A traditional business plan typically includes an executive summary, an overview of your products and services, thorough market research, a competitive analysis, a marketing and sales strategy, operational and company details, financial projections, and an appendix. 

• Why is a business plan outline important?

Starting with a business plan outline helps ensure that you’re including all of the necessary information for a complete business plan. 

But, depending on what you intend to do with your plan, you may not need all of this information right away. If you’re going to speak with investors or pursue funding, then yes, you’ll need to include everything from this outline.

But, if you’re using your plan to test an idea or help run your business, you may want to opt for a one-page plan . This is a simpler and faster method that is designed to be updated and used day-to-day. 

If you’re unsure of which plan is right for you, check out our guide explaining the differences and use cases for each plan type . 

• 10 key sections in a standard business plan outline

No matter the type of business plan you create, these are the ten basic sections you should include. Be sure to download your free business plan template to start drafting your own plan as you work through this outline.

1. Executive summary

While it may appear first, it’s best to write your executive summary last. It’s a brief section that highlights the high-level points you’ve made elsewhere in your business plan.

Summarize the problem you are solving for customers, your solution, the target market, your team that’s building the business, and financial forecast highlights. Keep things as brief as possible and entice your audience to learn more about your company. 

Keep in mind, this is the first impression your plan and business will make. After looking over your executive summary, your reader is either going to throw your business plan away or keep reading. So make sure you spend the time to get it just right.

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2. Products and services

Start the products and services section of your business plan by describing the problem you are solving for your customer. Next, describe how you solve that problem with your product or service. 

If you’ve already made some headway selling your solution, detail that progress here—this is called “traction”. You can also describe any intellectual property or patents that you have if that’s an important part of your business.

3. Market analysis 

You need to know your target market —the types of customers you are looking for—and how it’s changing.

Use the market analysis section of your business plan to discuss the size of your market—how many potential customers exist for your business—and if your potential customers can be segmented into different groups, such as age groups or some other demographic.

4. Competition

Describe your competition in this section. If you don’t have any direct competitors, describe what your customers currently do to solve the problem that your product fixes. 

If you have direct competition, detail what your strengths and weaknesses are in comparison, and how you’ll differentiate from what is already available. 

5. Marketing and sales

Use this business plan section to outline your marketing and sales plan —how you’ll reach your target customers and what the process will be for selling to them.

You’ll want to cover your market position, marketing activities, sales channels, and your pricing strategy. This will likely evolve over time, but it’s best to include anything that clearly details how you will sell and promote your products and services. 

6. Operations

What’s included in the operations section really depends on the type of business you are planning for. If your business has a physical location or other facilities, you’ll want to describe them here. If your business relies heavily on technology or specific equipment or tools, you should describe that technology or equipment here.

You can also use this section to describe your supply chain if that’s an important aspect of your business. 

7. Milestones and metrics

In a business, milestones are important goals that you are setting for your business. They may be important launch dates, or a timeline of when you’ll get regulatory approval—if that’s something you need for your business. Use this section of your plan to describe those milestones and the roadmap you are planning to follow.

You can also describe important metrics for your business, such as the number of sales leads you expect to get each month or the percentage of leads that will become customers.

8. Company overview and team

The company and team section of your plan is an overview of who you are.

It should describe the organization of your business, and the key members of the management team. It should also provide any historical background about your business. For example, you’ll describe when your company was founded, who the owners are, what state your company is registered in and where you do business, and when/if your company was incorporated.

Be sure to include summaries of your key team members’ backgrounds and experience—these should act like brief resumes—and describe their functions with the company. You should also include any professional gaps you intend to fill with new employees.

9. Financial plan and forecasts

Your financial plan should include a sales forecast, profit and loss, cash flow projections, and balance sheet, along with a brief description of the assumptions you’re making with your projections.

If you are raising money or taking out loans, you should highlight the money you need to launch the business. This part should also include a use of funds report—basically an overview of how the funding will be used in business operations. 

And while it’s not required, it may be wise to briefly mention your exit strategy . This doesn’t need to be overly detailed, just a general idea of how you may eventually want to exit your business. 

10. Appendix

The end of your business plan should include any additional information to back up specific elements of your plan. More detailed financial statements, resumes for your management team, patent documentation, credit histories, marketing examples, etc. 

• Detailed business plan outline

If you’re looking for greater insight into what goes into specific planning sections, check out the following outline for a business plan. It can help you develop a detailed business plan or provide guidance as to what may be missing from your current plan. 

Keep in mind that every business plan will look a bit different because every business is unique. After all, business planning is to help you be more successful, so focus on the sections that are most beneficial to your business and skip the sections that aren’t useful or don’t apply. 

To help, we’ve marked sections that are truly optional with an *.

Executive summary

Company purpose / mission statement.

A very brief description of what your business does and/or what its mission is.

Problem We Solve

A summary of the problem you are solving and an identifiable need in the market you are filling.

Our Solution

A description of the product or service you will provide to solve the problem.

Target Market

A defined customer base who will most likely purchase the product or service.

Briefly describe who is behind the business.

Financial Summary

A short overview of revenue goals and profitability timeline.

If you’ve already started selling your product or service, highlight important initial details here.

Funding Needed*

If you are raising money for your business, describe how much capital you need.

Products & Services

Problem worth solving.

A thorough description of the problem or pain points you intend to solve for your customer base. 

A thorough description of your proposed product or service that alleviates the problem for your customer base.

Describe any initial evidence that your customers are excited to spend money on your solution. Initial sales or signed contracts are good signs.

Intellectual Property/Patents*

If this is important for your business, outline it here.

Regulatory Requirements*

If government approval is required for your business, explain the details and timeline.

Future Products and Services*

What products and services might you offer in the future once your initial products and services are successful?

Market Size & Segments

How many potential customers do you have and what potential groups of customers are separated by specific characteristics?

Market Trends*

How consumers in your target market tend to act including purchasing habits, financial trends, and any other relevant factors.

Market Growth*

The perceived potential increase or decrease in the size of your target market.

Industry Analysis*

If your industry is changing or adjusting over time, describe those changes.

Key Customers*

If your business relies on certain important customers, describe who they are here.

Future Markets*

A snapshot of the potential market based on the last few sections and how your business strategy works within it.

Competition 

Current alternatives.

A list of potential competitors. Identifying the competition isn’t always obvious and it may take some digging on your part.

Our Advantages

The strategic advantage(s) that makes your target market more likely to choose you over the competition. 

Barriers to Entry*

If there’s anything that makes it more difficult for other people to start competing with you, describe those barriers.

Marketing & Sales

Market positioning.

Where do your products or services fit into the market? Are you the low-price leader or the premium option?

Unique value proposition*

What’s special about your offering that makes your customers want to choose it over the competition.

Marketing Plan

An outline of your marketing and advertising strategy including costs, advertising channels, and goals.

How do you sell your product or service? Self-serve or with a team of sales representatives?

Pricing Strategy*

Describe your pricing and how it compares to alternatives in the market.

Distribution*

Describe how your product gets in front of customers. Are you selling in stores and online? Which retailers?

SWOT Analysis*

Strengths, weaknesses, opportunities, and threats.

Location & Facilities

If you have a physical presence, describe where and what it is.

What technology is crucial for your business success?

Equipment & Tools

If special equipment or tools are needed for your business, describe them here.

Sourcing and fulfillment*

If you purchase your products or parts for your products from somewhere else, describe that sourcing and supply chain.

Partners and Resources*

If you have key partners that you work with to make your business a success, describe who they are and what services or products they provide.

Milestones and metrics

A detailed roadmap of specific goals and objectives you plan to achieve will help you manage and steer your business.

Key metrics

Performance measurements that help you gauge the overall performance and health of your business.

Company overview and team

Organizational structure.

An overview of the legal structure of your business. 

Company history and ownership

A summary of your company’s history and how it relates to planning your business.

Management team

The team that is starting or running your business and why they are uniquely qualified to make the business a success.

Management team gaps

Key positions that your business will need to fill to make it successful.

Financial plan and forecast

Projected profit and loss.

How much money you will bring in by selling products and/or services and how much profit you will make or lose after accounting for costs and expenses.

Projected cash flow

How and when cash moves in and out of your business. This also includes your overall cash position.

Projected balance sheet

Expected balances for business assets, liabilities, and equity.

Use of funds

If you are raising money either through loans or investment, explain how funds will be used. This is typically meant to be shared with investors or lenders.

Exit strategy

A brief explanation of how you intend to eventually exit from your business. This could include selling the business, going public, transitioning the business to a family member/employee, etc.

A repository for any additional information, including charts and graphs, to support your business plan.

Business plan outline FAQ

How do you organize your business plan?

There’s no real established order to business plans, aside from keeping the Executive Summary at the top. As long as you have all of the main business plan components, then the order should reflect your goals. 

If this is meant solely for your personal use, lay it out as a roadmap with similar sections grouped together for easy reference. If you’re pitching this to potential investors, lead with the stronger sections to emphasize the pitch. Then if you’re unsure of what order makes sense, then just stick to the outline in this article.

Should you include tables and charts in your business plan?

Every business plan should include bar charts and pie charts to illustrate the numbers. It’s a simple way for you, your team, and investors to visualize and digest complex financial information.

Cash flow is the single most important numerical analysis in a business plan, and a standard cash flow statement or table should never be missing. Most standard business plans also include a sales forecast and income statement (also called profit and loss), and a balance sheet.

How long should your business plan be?

There’s no perfect length for a business plan. A traditional business plan can be anywhere from 10 to 50 pages long depending on how much detail you include in each section. However, as we said before unless you intend to pursue funding, you likely don’t need a lengthy business plan at first.

Tim Berry is the founder and chairman of Palo Alto Software , a co-founder of Borland International, and a recognized expert in business planning. He has an MBA from Stanford and degrees with honors from the University of Oregon and the University of Notre Dame. Today, Tim dedicates most of his time to blogging, teaching and evangelizing for business planning.

Table of Contents

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• Business plans

Develop your business plan

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Why you need a business plan

Use our business plan tool, download a detailed business plan template, tips to help you write your business plan.

Whether you've just started out or have been running your business for years, business planning can be the key to your success. Having a business plan:

• helps you to prioritise – it gives your business direction, defines your objectives, maps out how you'll achieve your goals and helps you to manage possible bumps in the road
• gives you control over your business – the planning process helps you learn about the different things that could affect your success. If you're already in business, it helps you to step back and look at what's working and what you can improve on
• helps you seek finance – if you're seeking finance for your business, you'll need to show banks and investors why they should invest in your business.

It will help you to develop a shorter business plan to:

• evaluate a new business idea
• set some goals for the year ahead
• keep your business on track.

Use this template if you are seeking finance for your business or want to include more detail in your business plan.

Business plan template

1. Determine what your plan is for

Does your business plan have more than one purpose? Will you use it internally, or will you share it externally, for example with potential investors or banks?

Deciding what the purpose is, can help you develop your plan for the right audience. If the plan has been developed for third parties, you will need to determine what they’ll be most interested in.

2. Prepare your finances

Use our detailed business plan template if you are seeking finance.

Lenders and investors will want to know if your finances are in order and your business is in a strong financial position. They'll want to know how much money you currently have, how much money you need and how much you expect to make in the near future. While a bit of extra funding will help you ensure you’re covered for unexpected costs, be realistic and avoid asking for more than you need.

If you're starting out and don't have financial information yet, our template provides resources to help you get your finances ready.

3. Write your summary last

Summarise the main points of your business plan using as few words as possible. You want to get to the point but not overlook important facts. This is your opportunity to sell yourself, but don't overdo it. The summary should include details about your business, market, goals and what makes you different from other businesses.

4. Get help

Don't leave your business plan to the last minute. It takes time, research and careful preparation to develop an effective business plan.

If you aren't confident in completing the plan yourself, consider getting a professional to look over it and provide advice.

There are a number of government services available to help you plan, start or grow your business. These services can provide general advice, workshops, seminars and networking events, and can even match you with a mentor or business coach.

Get expert help from a business adviser in your area .

5. Review your plan regularly

As your business changes, your plan will need to change to ensure your business is still heading in the right direction. Having your plan up-to-date can keep you focused on where you are heading.

It's a good idea to keep a record of each version of your business plan.

6. Protect your plan

Having an understanding with third parties when distributing a plan could be enough protection for some businesses. But if you have innovative business practices, products or services, you may want people to sign a confidentiality agreement to protect your innovations.

It may also be a good idea to include some words in your plan asking the reader not to disclose the details of your plan.

Start writing and developing your marketing strategy.

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Free Simple Business Plan Template

Our experts

Written and reviewed by:.

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Your business plan is the document that adds structure to your proposal and helps you focus your objectives on an achievable and realistic target. It should cover every aspect of what your business journey will look like, from licensing and revenue, to competitor and sector analysis.

Writing a business plan doesn’t need to be a difficult process, but it should take at least a month to be done properly.

In today’s capricious business climate there’s a lot to consider, such as the impact of political challenges like Brexit. These details are especially important in today’s bad economy. Investors are looking for entrepreneurs who are aware of the challenges ahead and how to properly plan for them.

Below, you’ll find everything you need to create a concise, specific and authoritative business plan. So let’s get started turning your idea into a reality!

Click here to download your free Business Plan template PDF – you can fill in your own details and those of your business, its target market, your customers, competitors and your vision for growth.

Our below guide will give you detailed advice on how to write a quality business plan, and our PDF download above can give you a clear template to work through.

But, creating an effective business plan needs….planning! That’s where a high quality planning tool can help.

We recommend creating an account with monday to use this tool – there’s even a free trial . Doing so means you can start your entrepreneurial journey on the right foot.

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What to include in your business plan template

There’s a lot of information online about how to write a business plan – making it a confusing task to work out what is and isn’t good advice.

We’re here to cut through the noise by telling you exactly what you need to include for a business plan that will satisfy stakeholders and help develop a key identity for your brand. By the end, you’ll have a plan to make even Alan Sugar proud and can get started with the most exciting part – running your business.

Throughout this guide, we’ve featured an example business plan template for a new restaurant opening in Birmingham called ‘The Plew’. In each section, you’ll be able to see what the contents we’re describing would look like in a ‘real-life’ document.

What to include in your business plan:

• Executive Summary
• Personal summary
• Business idea
• Your product or service
• Market analysis
• Competitor analysis
• Cash forecast
• Operations and logistics
• Backup plan
• Top tips for writing a business plan
• Business plan template UK FAQs

1. Executive summary

This section is a summary of your entire business plan. Because of this, it is a good idea to write it at the end of your plan, not the beginning.

Just as with the overall business plan, the executive summary should be clearly written and powerfully persuasive, yet it should balance sales talk with realism in order to be convincing. It should be no more than 1,000 words.

It should cover:

• Mission statement  – what is your company’s purpose?
• Business idea and opportunity – what unique selling point (USP) will you provide?
• Business model – how will your business operate?
• Business objectives – what are you aiming to achieve?
• Target market – who is your customer base?
• Management team – who are the owners/senior staff?
• Competition – who are you competing against?
• Financial summary – can you prove the business will be profitable?
• Marketing strategy – what is your marketing plan and associated costs?
• Timeline – how long will it take to launch/grow your new business?

It sounds like a lot – but don’t feel you have to spend hours putting this together. Here’s what the above information for an executive summary might look like when put into our example business plan template for ‘The Plew’:

Startups’ business plan template example: executive summary

2. Personal summary

Investors want to know who they’re investing in, as much as what. This is where you tell people who you are, and why you’re starting your business.

Outline your general contact details first, giving your telephone number, email address, website or portfolio, and any professional social media profiles you might have.

Run through this checklist to tell the reader more about yourself, and put your business ambitions into context.

• What skills/qualifications do you have?
• What are you passionate about?
• What is/are your area(s) of industry expertise?
• Why do you want to run your own business?

Here’s what our two fictional co-founders of ‘The Plew’ might write in their personal summaries for our example business plan. CEO Gabrielle Shelby, has highlighted her expertise in the restaurant industry, while CFO Freya Moore outlines her accounting and finance knowledge.

Startups’ business plan template example: personal summary

Richard Osborne, founder and CEO of UK Business Forums, says personality is important in a business plan.

“Having a strong, personal reason at the heart of your business model will help keep you going and give you the motivation to carry on,” he affirms.

3. Business idea

This section is essentially to offer a general outline of what your business idea is, and why it brings something new to the market.

Here, you should include your general company details, such as your business name and a  one-line summary of your business idea known as an  elevator pitch. This section should also list a few key business objectives to show how you plan to scale over the next 1-3 years.

We also recommend carrying out a SWOT analysis to tell investors what the strengths, weaknesses, opportunities, and threats are for your business idea. Think about:

• Strengths: ie. why is this a good time to enter the sector?
• Weaknesses: ie. what market challenges might you encounter?
• Opportunities: ie. what demand is your product/service meeting in today’s market?
• Threats: ie. how will the business be financed to maintain liquidity?

In the template below, you can see a breakdown of the above information for ‘The Plew’. At the top is its mission statement: “to craft an unforgettable dining experience in a chic atmosphere.”

Startups’ business plan template example: business idea

Need a business idea? We’ve crunched the numbers and come up with a list of the best business ideas for startup success in 2023 based on today’s most popular and growing industries.

4. Your products or services

Now it’s time to explain what you are selling to customers and how will you produce your sales offering.

Use this section to answer all of the below questions and explain what you plan to sell and how. Just like your business idea outline, your answers should be concise and declarative.

• What product(s) or service(s) will you sell?
• Do you plan to offer new products or services in the future?
• How much does the product or service cost to produce/deliver?
• What is your pricing strategy ?
• What sales channels will you use?
• Are there legal requirements to start this business?
• What about insurance requirements?
• What is the growth potential for the product or service?
• What are the challenges? eg. if you’re looking to sell abroad, acknowledge the potential delays caused by post-Brexit regulations.

What insurance and licensing requirements do you need to consider?

Depending on what your business offers, you might need to invest in insurance or licensing. Our How To Start guides have more details about sector-specific insurance or licensing.

Public Liability, Professional Indemnity, and Employers’ Liability are the most well-known types of business insurance. We’ve listed some other common other licensing and insurance requirements below:

In our example product/service page for ‘The Plew”s business plan, the founders choose to separate this information into multiple pages. Below, they outline their cost and pricing, as well as sales strategy. But they also include an example menu, to offer something a bit more unique and tantalising to the reader:

Startups’ business plan template example: product list and pricing strategy

5. Market analysis

This section demonstrates your understanding of the market you are entering, and any challenges you will likely face when trying to establish your company.

This section pulls all of your target market and customer research together to indicate to stakeholders that you are knowledgable about the sector and how to succeed in it.

• Who is your typical customer and where are they are based? Describe the profile of your expected customers eg. average age, location, budget, interests, etc.
• How many customers will your business reach? Outline the size of your market, and the share of the market that your business can reach.
• Have you sold any products/services to customers already? If yes, describe these sales. If no, have people expressed interest in buying your products or services?
• What have you learned about the market from desk-based research? What are the industry’s current challenges, and how has it been affected by the economic downturn?
• What have you learned about the market from field research? (eg. feedback from market testing like customer questionnaires or focus group feedback).

What is your marketing strategy?

Once you’ve highlighted who your rivals are in the market, you can provide details on how you plan to stand out from them through your marketing strategy. Outline your  business’ USP, your current marketing strategy, and any associated advertising costs.

‘The Plew’ identifies its target audience as young, adventurous people in their mid-30s. Because of the restaurant’s premium service offering, its audience works in a well-paid sector like tech:

Startups’ business plan template example: customer analysis

6. Competitor analysis

This section demonstrates how well you know the key players and rivals in the industry. It should show the research you have carried out in a table format.

Begin by listing the key information about your competitors. Don’t worry about sounding too critical, or too positive. Try to prioritise accuracy above all else.

• Business size
• Product/service offering
• Sales channels
• Strengths/weaknesses

Competitors will take two forms, either direct  or  indirect. Direct competitors sell the same or similar products or services. Indirect competitors sell substitute or alternative products or services.

Here’s a breakdown of the strengths, weaknesses, and opportunities, and threats presented by a competitor restaurant for ‘The Plew’ called Eateria 24. At the bottom, the founders have written what learnings they can take from the chart.

Startups’ business plan template example: competitor analysis

Check out our list of the top competitor analysis templates to download free resources for your business, plus advice on what to include and how to get started.

7. Cash forecast

Outline your financial outlook including how much you expect to spend, and make, in your first year

All of your considered costs can be put into one easy-to-read document called a monthly cash forecast. Cash forecasts contain:

1. Incoming costs such as sales revenue, customer account fees, or funding.

2. Outgoing costs such as staff wages or operating expenses. The latter can cover everything from advertising costs to office supplies.

For those firms which have already started trading, include any previous year’s accounts (up to three years) as well as details of any outstanding loans or assets.

Annual cash forecast: what is it?

By conducting 12 monthly cash forecasts, you can create an annual cash forecast to work out when your company will become profitable (also known as breakeven analysis) . You will break even when total incoming costs = total outgoing costs.

In your annual cost budget, make sure to also include month opening/closing balance.  This is important to monitor for accounting, particularly for year-end.

• Opening balance = the amount of cash at the beginning of the month
• Closing balance = the amount of cash at the end of the month

The opening balance of any month will always be the same as the closing balance of the previous month. If you are repeatedly opening months with a negative closing balance, you need to adjust your spending. Here’s an example of what ‘The Plew’s financials might look like in its first year of operation:

Startups’ business plan template example: cash forecast

8. Operations and logistics

Explain how your day-to-day business activities will be run, including key business partnerships around production and delivery.

A.) Production

List all of the behind the scenes information about how your business will operate. Include:

• Management team – who do you plan to hire as senior staff and why?
• Premises –  where will you be based? What will be the cost?
• Materials –  what materials/equipment will you need to make your product/service?
• Staffing –  how many employees will you hire? How much will they cost?
• Insurance – what insurance do you need for production?

B.) Delivery

Detail how your customers will receive your product or service. Include:

• Distribution –  how will you sell your product to customers?
• Transport –  how will you transport the product/service to customers or partners?
• Insurance –  what insurance do you need for delivery?

C.) Supplier analysis

Lastly, you should carry out a supplier analysis.  Write down 2-3 suppliers you plan to use as part of your business operations and evaluate them on factors like location and pricing.

In our example business plan for ‘The Plew’, the founders have chosen to present this information in an easily-digestible chart, breaking down the leadership and employees into two different areas: product development and operations.

Startups’ business plan template example: staffing section

9. Backup plan

Explain how you will manage any surprise losses if your cash forecast does not go to plan.

In the event that your business does not go to plan, there will be costs to incur. A backup plan outlines to potential investors how you will pay back any outstanding loans or debt.

In the short-term: 

If your cash-flow temporarily stalls, what steps could you take to quickly raise money or make savings? For example, by negotiating shorter payment terms with your customers.

In the long-term:

If you’ve noticed a drop in sales that seems to be persisting, what changes can you make that would improve cash flow longer term? For example, can you do more of your business online to reduce rent fees?

To placate investors even further, it’s a good idea to include details about potential support channels you can utilise (eg. a business network or contact) who might be able to help if you get caught in a sticky cash-flow situation.

Startups’ 5 top tips for writing a business plan

• Keep your predictions realistic. Your business plan should showcase your knowledge of the sector and what’s achievable. It’s not about impressing investors with big numbers or meaningless buzzwords.
• Don’t go over 15 pages. Business plans should be engaging, which means sticking to the point and avoiding a lot of long-winded sentences. Keep your executive summary to less than 1,000 words, for example.
• End with supporting documents. Use your appendix to include product diagrams or detailed research findings if these are helpful to your business case.
• Get a second pair of eyes. Everyone misses a spelling error or two – invite a trusted business contact or associate to look over your business plan before you send it anywhere.
• Leave enough time to write! It’s exciting to think about getting your business up and running – but planning is an important step that can’t be rushed over. Spend at least a month on writing to get all the details correct and laid-out.

At Startups.co.uk, we’re here to help small UK businesses to get started, grow and succeed. We have practical resources for helping new businesses get off the ground – use the tool below to get started today.

What Does Your Business Need Help With?

Designing a business plan is very important for laying the foundation of your business. Ensure you spend an appropriate amount of time filling it out, as it could save you many headaches further down the line.

Once your plan is complete, you’ll then be ready to look at other aspects of business set-up, such as registering your company. Sound daunting? Don’t worry!

Our experts have pulled together a simple, comprehensive guide on How to Start a Business in 2024, which will tell you everything you need to know to put your new plan into action.

• Can I write a business plan myself? Absolutely! There are plenty of resources available to help, but the truth is a business plan needs to reflect the owner's personal ambitions and passion - which is why entrepreneurs are best-placed to write their own.
• How long should a business plan be? We recommend your business plan is kept to a maximum of 15 pages. Keep it short and concise - your executive summary, for example, should be no more than 1,000 words.
• Is it OK to copy a business plan? While not technically illegal, copying a business plan will leave you in a poor position to attract investment. Customising your plan to your unique business idea and industry specialism is the best way to persuade stakeholders that you have a winning startup formula.

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