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Free Business Plan

Business Plan: What is it?

A business plan is a formal document detailing the goals that the business will have. It will also include why these goals and attainable and how they will be met. A business plan may also include background information about the business and the people involved with the company.

A business plan should be used by new businesses, and it can also be helpful for existing businesses to re-evaluate their goals and methods. Most business plans will cover the next 3 to 5 years of business, and then they will need to be updated.

Investors and shareholders will want to see an updated business plan regularly, so they can assess the company and ensure it is a good investment for them.

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Contents of a Business Plan



Creating one is 100% free, but business plans are not exactly simple documents. As a business plan forms the foundation of your company, it must outline all pertinent details in a concise yet detailed manner. There are two purposes to a business plan - template your business so that you can build it in an orderly manner, and appeal to potential benefactors or stockholders.

So, what goes into a business plan?

Cover Sheet

This is, as the name suggests, the first sheet of your business plan. It should include the following information:

  • Business logo, if you have one.

  • Company name, address and phone number

  • Names, job titles, and contact information of each owner

  • Name of person preparing the plan

  • Month and year of the plan's creation

Mission Statement

This should sum up, in a paragraph or so, your business' main objectives. It should be concise, to the point, and answer the following big questions:

Why does your business exist? What special services, skills or approaches make you stand out from your competitors?

What will your business' public image be?

What do you want for your customers?

Summary of Your Business' Key Elements

Your business plan should also sum up the background and general structure of your business. Key parts include -

  • A description of your business' legal entity

  • An overview of your business' assets , including its history from infancy and projections for the future.

  • A detailed overview of your products and services.

  • Any specifications or plans in regard to your business location.

  • A description of your management structure, as well as job titles and descriptions for each key member of personnel.

  • Your plans for record-keeping, business and other insurance policies, and security measures.

Marketing Plan

The "marketing" section of your business plan template must do the following -

  • Describe your target market.

  • Describe your competition.

  • Describe your plans for distributing your products/services.

  • Describe your advertising campaign, including packaging, market entry plan, and any role location may play in your marketing methods.

  • Provide a summary of industry trends to support your marketing strategy .

Financial Overview

Your business plan form should also provide an overview of your business' financial structure. Here are a few checkpoints your financial overview should hit -

  • Sum up your business' financial requirements.

  • Provide a statement describing your funding sources and how you intend to apply said funds.

  • Describe your budget.

  • Provide a three-year income projection and a break-even analysis graph.

  • Provide statements reflecting past performance.

  • Provide a balance sheet and conclude section with summary.

Supplementary Documents

In addition to the main document, you should provide an appendix containing resumes, personal financial statements, credit reports, lease copies, and reference letters for every major player in your start-up, as well as copies of contracts, other legal documents and any other pertinent documents, at the end of your business plan.