Business Plan Template: The Basics
A good busines plan template must fit the needs of your business. Take the time to find a business plan template that will deliver the best long term planning in marketing, sales, income projection, expenditure, target market, products or services, and time scales.
Business Plan Template
The business plan must be realistic and based on as much hard data as possible. It describes the business, strategies, objectives, target market, financial projections. It may be aimed at the business owner to assist them to start up and run the business. Or it may be aimed at external funders including banks and investors.
In the long term the business plan will be referred to and adjusted, and used to measure the success of the business.
What should be included on a Business Plan Template
The business plan should describe all aspects of your business, how targets will be achieved, the financial workings, the owners and employees. The basics of a business plan will include:
- Executive Summary
- Description of the business, the market, products and services
- Marketing and sales strategy
- Management Team
- Employees
- Infrastructure and premises
- Financial Forecasts
Executive Summary
The executive summary on a business plan template is the mst important part as it will be read first by potential investors and other interested parties. It can make or break an application for funding in that many business plans are rejected after only reading the executive summary.
The key points of your business should be presented clearly in a way which engages the reader and makes it easy to get a picture of your proposals. It must both inform and interest the reader and encourage them to seek further information from the rest of the plan.
Ensure the important points of your business plan are highlighted, and all aspects are covered.
Financial Plans
Business Plan Template
The business plan template should include:
- Sales forecasts
- Cashflow projections
- Profit and loss statements
The financial projections are one of the most important parts of the plan and should include how much capital is required, at what stages it is required, what security is available, how borrowing and investment will be repaid, and where income will come from.
Audience
A business plan template can be aimed at various audiences including those internal and external.
It may be used internally to assess threats and possible problems, to structure the finances, ensure development is targetted, and to check on progress towards the main goal.
Externally it may be requested by banks, investors such as venture capitalists, grant providing organisations, potential partners and even purchasers of the business.
A business plan changes as the business grows and develops and may be targetted to the needs of different audiences.
Video: Business Plan Layout
A short video with details of how to layout a business plan template.