Free Business Plan Templates for Small Businesses (2024)

A good business plan is essential for a successful business— The easiest way to simplify the task of writing a business plan is to start with a business plan template.

You've already invested time and energy into refining your business model and planning your launch. You don't have to reinvent the wheel when creating a business plan. Instead, look to proven structures created by other entrepreneurs and startups to create a complete and effective plan.

Learn what it takes to create a solid business plan, download Shopify's free business plan template, and turn your dreams into reality today.

What's in this free business plan template?

1. executive summary
2. Company Profile
3. PRODUCT OR SERVICE OFFERED
4. market analysis
5. marketing plan
6. Logistics and operational planning
7. financial planning

This business plan outline is designed to ensure you consider all the important aspects of starting a new business. This will help new business owners and entrepreneurs consider the full scope of their business operations and identify functional areas they may not have considered before or areas where they need to level up their skills as they grow. The purpose is

That said, it may not include certain details or structures that potential investors or lenders prefer. If the goal of your business plan is to secure funding, contact your target organization (usually a bank or investor) to see if they have a business plan template that you can follow to maximize your chances of success. Please check if it is.

The free business plan template includes seven key elements typically found in traditional business plan formats.

1.executive summary

This is a one-page summary of the entire plan and is usually written after the rest of the plan has been completed. The executive summary description section also includes the management team, business goals and strategies, and other background information about the brand.

2. Company profile

This section of your business plan answers two basic questions: Who are you? and “What are you going to do?” Answering these questions will clarify why your company exists, what makes you different from others, and why it's a good investment opportunity. This section details why your business exists, its goals, and its guiding principles.

3. Products or services offered

What you sell and the most important features of your product or service. This includes planning for intellectual property such as patent applications and copyrights. If you conduct market research for a new product line, it will appear in this section of your business plan.

4. Market analysis

This section includes everything from estimated market size to target market and competitive advantages. This includes a competitive analysis of your industry to address your competitors' strengths and weaknesses. Market research is an important part of ensuring you have a viable idea.

5. Marketing plan

How do you intend to market your business, what strategic decisions have you made about your pricing strategy, etc. It also covers potential customer demographics, sales plans, and success metrics and milestones.

6. Logistics and operational planning

Everything needed to turn raw materials into products and get them into the hands of customers.

7. Financial planning

It is important to include a financial forecast that includes both revenue and expense projections. This section contains templates for his three main financial statements: income statement, balance sheet, and cash flow statement. You can also include whether you need a business loan and the amount you need.

Business plan example

What do financial projections look like on paper? How do you write an executive summary? What should a company description include? A business plan example answers some of these questions. , helps you turn your business idea into a workable plan.

professional business plan example

A sample business plan for a fictitious e-commerce business is included within the template.

This sample has been set up to help you understand what each section means and how they apply to the planning and evaluation stages of a business plan. If you're looking for funding, this example is not a complete or formal review of your business plan, but it's a great starting point and a note on where to expand.

Lean business plan example

The lean business plan format is a shortened version of a more detailed business plan. This is useful if you want to modify your plan for a specific audience, such as investors or new employees.

Also known as a one-page business plan, it includes only the most important and need-to-know information, including:

• Company Profile
• supplier
• Key members of the team
• customer segment
• marketing plan

💡Tips: For a step-by-step guide to writing a lean business plan (including a sample business plan), read our guide on how to write a lean business plan.

Benefits of writing a solid business plan

When you're excited about a new business or side project, it's tempting to jump into action right away, but taking the time to write a thorough business plan and putting your thoughts on paper can have many beneficial effects. becomes possible.

• Test the feasibility of your business idea. Whether you have one business idea or several, a business plan will help you make your idea more concrete, see if it's really viable, and ensure you find your target market.
• Plan for the next phase. Whether your goal is to start a new business or expand your existing business to the next level, a business plan helps you understand what needs to happen and any gaps that need to be addressed. will help you identify.
• Clarify your marketing strategy, goals, and tactics. Writing a business plan provides actionable next steps for tackling big, abstract ideas. It also helps you refine your strategy and identify clear tactics to support it.
• Determine the scope of work required. Without a concrete plan, cost overruns and delays are almost certain. A business plan will help you see the full scope of work that needs to be done and adjust your time and financial investments accordingly.
• Hire and build partnerships. A clearly written business plan is one of the best tools at your disposal, especially in the early stages of your business when you need buy-in from potential employees and business partners. A business plan provides more detail about your business goals and allows your partners to decide for themselves whether they agree with your vision.
• Secure funding. Seeking funding for your business, whether from venture capital, financial institutions, or Shopify Capital, is one of the most common reasons for creating a business plan.

Why you should use templates for your business plan

Business plans can be informal or formal, depending on the situation, but even if you're a fan of the inside-out approach to planning, starting your plan from an existing outline or plan can be There are several important advantages. Simple business plan template.

No blank slate paralysis

A blank page can be intimidating to even the most seasoned writer. Established business planning processes and templates can help you overcome inertia when starting a business plan and eliminate the work of building an outline from scratch. You can always adjust the template to suit your needs.

Guidance on what to include in each section

If you've never taken a business class, you may have never created a SWOT analysis or financial projections. Templates that provide guidance in plain language on how to fill out each section can help you understand sometimes difficult business terminology and create a complete and effective plan.

Shows that all sections have been considered

In some cases, you may not need to complete every section of a startup business plan template, but looking at its initial structure, you may choose to omit a section rather than forgetting to include it from the beginning. You can see that there are.

Tips for creating a successful business plan

In addition to the advice included in this free business plan template, there are some high-level strategic guidelines to help you create an effective and complete plan with minimal red tape.

Understand your plan's target audience

If you're writing your own business plan to clarify your idea or your industry as a whole, you may not need to include the same level of detail and polish as the business plan you send to potential users. . investors. Knowing who will read your plan will help you decide how much time to spend on it.

know your goals

Understanding your planning goals will help you set the appropriate scope. If your goal is to use the plan as a roadmap for growth, you can invest more time than if your goal is to understand the competitive landscape of a new industry.

Let's take it one step at a time

Writing a 10-15 page document can feel overwhelming, so try to tackle one section at a time. Choose the two sections you feel most confident writing about and start there. Once these sections are complete, you can start on the next few sections. Jot down bullet points for each section before you start writing to organize your thoughts and streamline the writing process.

Make the most of your business planning efforts

Planning is the key to financial success for any type of business, whether it's a startup, nonprofit, or corporation.

To ensure you focus on the most valuable parts of your business plan, such as clarifying your goals, setting your strategy, and understanding your target market and competitive environment, use our business plan overview to help you understand the structure and structure of your business plan. Handle format. you. Even if you end up omitting a section, you can save time and energy by starting with a framework that's already in place.