You will find business plan tailored to your project in our list of 250+ business plans
All our business plans do include a business plan
How can you create a compelling business plan without feeling overwhelmed?
In this article, we provide a free tool to do so. If you're looking for something more tailored to your specific project, feel free to browse our list of business plans, customized for over 200 different project types here.
We'll also address the following questions:
What should be included in a business plan?
How many pages should a business plan have?
How much money should be set aside for market research?
What financial details need to be in a business plan?
How can I figure out the size of my target market?
What is the cost of creating a business plan?
How do I find the break-even point?
How much equity should be given to investors?
How long does it take to finish a business plan?
How can I estimate sales for a new business?
Why is a SWOT analysis important in a business plan?
How do I choose the right pricing strategy?
The document available for as a free example is a business plan. It includes all the elements mentioned in this blog post. It is tailored specifically to the realities of a fruit juice bar. If you need a document for your own project, feel free to browse through our list of business plans.
If you have any questions, don't hesitate to contact us.
What Should Be Included in a Business Plan?
Here are the key elements that should be included, all of which you will find in our financial forecasts tailored to 200+ different business projects.
| Section | Description |
|---|---|
| Executive Summary | A brief overview of the business plan, including the business concept, financial features, and current business position. It should capture the reader's attention and summarize the key points of the plan. |
| Company Description | Detailed information about the business, including its mission statement, goals, target market, and the unique value proposition. It should also cover the business's legal structure, ownership, and history. |
| Market Analysis | An analysis of the industry, market size, expected growth, and target market demographics. It should include a competitive analysis, identifying key competitors and their strengths and weaknesses. |
| Organization and Management | An outline of the business's organizational structure, including details about the ownership, management team, and board of directors. It should highlight the qualifications and experience of key team members. |
| Products or Services | A detailed description of the products or services offered by the business. It should explain the benefits, lifecycle, and any research and development activities. Include information on intellectual property, if applicable. |
| Marketing and Sales Strategy | A comprehensive plan for marketing and selling the products or services. It should cover pricing, promotion, distribution, and sales strategies. Include information on customer acquisition and retention strategies. |
| Funding Request | If seeking funding, this section should detail the amount of funding needed, how it will be used, and the proposed terms. It should also include future funding requirements and potential funding sources. |
| Financial Projections | Detailed financial forecasts, including income statements, cash flow statements, and balance sheets for the next three to five years. Include a break-even analysis and key financial ratios. |
| Appendix | An optional section that can include additional information such as resumes, permits, lease agreements, legal documentation, and other relevant documents that support the business plan. |
Our financial forecasts are comprehensive and will help you secure financing from the bank or investors.
Common Questions You May Have
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- A free example of a business plan (pdf)
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What are the key components of a business plan?
A business plan typically includes an executive summary, company description, market analysis, organization and management structure, and a description of the product or service line.
It also contains marketing and sales strategies, funding request, financial projections, and an appendix with supporting documents.
Each section should be detailed and tailored to the specific needs and goals of your business.
How long should a business plan be?
The length of a business plan can vary, but it is generally recommended to be between 15 and 25 pages.
For more complex businesses, the plan might extend to up to 50 pages including detailed financial projections and appendices.
It's important to be concise yet comprehensive, ensuring all critical information is covered without unnecessary detail.
How much should I budget for market research?
Market research costs can vary widely depending on the scope and methods used, but a small business might budget between $5,000 and $15,000.
For more extensive research, especially in competitive or niche markets, costs can rise to up to $50,000 or more.
It's crucial to allocate sufficient funds to gather accurate and actionable data to inform your business strategy.
What financial projections should be included in a business plan?
A business plan should include detailed financial projections such as income statements, cash flow statements, and balance sheets.
Typically, these projections cover a period of three to five years to provide a clear picture of the business's financial future.
Additionally, break-even analysis and key financial ratios should be included to demonstrate the business's potential for profitability.
How do I determine the target market size?
Determining the target market size involves analyzing industry reports, market surveys, and competitor data.
Use tools like TAM (Total Addressable Market), SAM (Serviceable Available Market), and SOM (Serviceable Obtainable Market) to estimate the market size.
Typically, a detailed market analysis will provide a target market size in terms of number of potential customers and revenue potential.
What is the typical cost to develop a business plan?
The cost to develop a business plan can range from $1,500 to $3,000 for a basic plan created by a professional consultant.
For more comprehensive plans, especially those requiring extensive market research and financial modeling, costs can rise to between $5,000 and $10,000.
DIY options are less expensive but require significant time and expertise.
How do I calculate the break-even point?
The break-even point is calculated by dividing the fixed costs by the difference between the unit selling price and the variable cost per unit.
This formula helps determine the number of units that need to be sold to cover all costs, providing a clear target for profitability.
For example, if fixed costs are $10,000, the unit selling price is $50, and the variable cost per unit is $30, the break-even point is 500 units.
How much equity should I offer to investors?
The amount of equity to offer investors typically depends on the amount of capital needed and the valuation of the business.
Startups often offer between 10% and 20% equity in early funding rounds, but this can vary based on negotiations and investor expectations.
It's important to balance the need for capital with the desire to retain control and ownership of the business.
What is a realistic timeline for completing a business plan?
Completing a business plan can take between 2 to 6 months depending on the complexity of the business and the availability of data.
For simpler businesses, a well-organized plan might be completed in as little as 4 weeks.
However, thorough research, financial modeling, and multiple revisions often extend the timeline.
How do I project sales for a new business?
Projecting sales for a new business involves analyzing market trends, competitor performance, and potential customer behavior.
Use historical data from similar businesses and industry benchmarks to create realistic sales forecasts.
Typically, sales projections are broken down by month for the first year and by quarter for the next two to four years.
What is the importance of a SWOT analysis in a business plan?
A SWOT analysis helps identify the Strengths, Weaknesses, Opportunities, and Threats related to your business.
It provides a strategic framework to understand internal and external factors that can impact business success.
Incorporating a SWOT analysis in your business plan demonstrates thorough planning and awareness of potential challenges and advantages.
How do I determine the appropriate pricing strategy?
Determining the appropriate pricing strategy involves analyzing costs, competitor pricing, and perceived value to customers.
Common strategies include cost-plus pricing, value-based pricing, and competitive pricing.
It's essential to balance profitability with market acceptance, ensuring prices are attractive to customers while covering costs and generating a profit.