Free Business Plan Template (With Examples)
Table of Contents
Published 4:54 p.m. UTC Feb. 9, 2024
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Starting a business can be a daunting undertaking. As with so many large projects, one of the most difficult challenges is just getting started, and one of the best ways to start is by putting together a plan. A plan is also a powerful tool for communication and can serve as a cornerstone for onboarding new partners and employees or for demonstrating your philosophy and priorities to potential collaborators.
A solid business plan will not only provide a framework for your business going forward but will also give you an early opportunity to organize and refine your thoughts and define your mission statement, providing a guidepost that can serve as a beacon for your business for years to come. We’ve provided a business plan template below to help guide you in the creation of your new enterprise.
Featured LLC service offers
Free version available
Yes
Lowest published package price
$199
Free version available
Yes
Lowest published package price
$249
Free version available
No
Lowest published package price
$225
Business plan template
What should a business plan include?
Regardless of the type of business you own or the products and services you provide, every business plan should include some core elements:
- Mission statement. The definition and executive summary of your business.
- Market analysis. A breakdown of the market segment and customers you hope to reach, built through primary (gathered by you) and secondary (gathered from outside sources) research.
- Organization and logistics. The nuts and bolts of how your business is operated
- Products or services. What your company provides its customers.
- Advertising and marketing. How you intend to get your products in front of your customers.
- Forecasting. Revenue forecasting for partners or potential investors.
Why do you need a business plan?
A business plan is a framework for success. It provides a number of key benefits:
- Structure. The outline around which to design your business.
- Operational guidance. A signpost for how to run your business from day to day.
- Expansion. A vision for the future growth of your enterprise.
- Definition. A platform to consider every element of your business and how best to execute your plans for them.
- Collaboration. A synopsis of what’s exceptional about your business and a way to attract funding, investment or partnerships.
- Onboarding. An efficient summary of your business for new or potential employees.
Business plan examples
We’ve created two fictional companies to illustrate how a business might use a business plan to sketch out goals and opportunities as well as forecast revenue.
Bling, Incorporated
Our first hypothetical example is a jewelry and accessory creator called Bling, Incorporated. A hybrid business that manufactures its products for sale both online and through physical retail channels, Bling’s mission statement is focused on transforming simple, inexpensive ingredients into wearable statement pieces of art.
Market analysis includes gathering data around sourcing sustainable, inexpensive components, aesthetic trends in fashion and on which platforms competitors have had success in advertising jewelry to prospective customers. Logistics include shipping products, negotiating with retailers, establishing an e-commerce presence and material and manufacturing costs.
Bling, Incorporated advertises initially through social platforms like TikTok and Facebook, as well as with Google AdSense, with plans to eventually expand to television advertising. Revenue forecasting is structured around a low overhead on the basis of inexpensive materials, no dedicated storefront and broad reach through digital platforms.
Phaeton Custom Cars
Phaeton is a custom car builder and classic car restoration business with a regional focus and reach. Its mission statement defines it as a local, family-owned business serving a community of auto enthusiasts and a broader regional niche of collectors.
Market analysis breaks down the location and facilities of other competitor shops in the region as well as online communities of regional car enthusiasts likely to spend money on custom modifications or restoration projects. It also examines trends in valuations for custom parts and vintage cars. Logistics include pricing out parts and labor, finding skilled or apprentice laborers and mortgaging a garage and equipment.
Phaeton advertises in regional publications, at local events and regional car shows and online through Facebook and Instagram, with an emphasis on a social presence highlighting their flashiest builds. Revenue forecasting is built around a growing reputation and high-value commissions.
Featured LLC service offers
Free version available
Yes
Lowest published package price
$199
Free version available
Yes
Lowest published package price
$249
Free version available
No
Lowest published package price
$225
Frequently asked questions (FAQs)
A business plan may not be a prerequisite for every type of business, but there are few businesses that wouldn’t benefit from one. It can serve as an important strategic tool and help crystalize a vision of your business and its future.
Business plans do just that: they help you plan the future of your business, serve as a platform to brainstorm ideas and think through your vision and are a great tool for showcasing why your business works to potential investors or partners.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
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