BUSINESS PLAN TEMPLATE
Name of Business: ________________________________________________________________
Name of Owners/ ___________________________________________
Entrepreneurs: ___________________________________________
___________________________________________
___________________________________________
Product/S
ervice: _______________________________________________________________________
Description: For Goods/Products include: color, physical description, size, and product details;
For Services:
include what service, when done, by whom, and for whom?
_________________________________________________________________________________________
_________________________________________________________________________________________
_________________________________________________________________________________________
_________________________________________________________________________________________
Mission S
tatement (purpose or goal of Business):
_________________________________________________________________________________________
_________________________________________________________________________________________
_________________________________________________________________________________________
Business Motto/Slogan:____________________________________________________________________
Draw Business Logo:
Business Location:
_______________________________________________________________________
Hours of Ope
ration
(opening date, hours, and days my business will operate)
: _________________________
_________________________________________________________________________________________
1
2020
BUSINESS PLAN
DESCRIPTION OF THE MARKET/CUSTOMER
Your target market is customers who are most likely going to buy from you. Describe them in as much detail as
possible, based on your knowledge of your product or service.
My target market is:
Age range: __________
__________________________________Gender: ____________________________
Shopping Habi
ts:
__________________________________________________________________________________________
__________________________________________________________________________________________
Hobbies of customers:
__________________________________________________________________________________________
__________________________________________________________________________________________
Why woul
d they purchase my produce/service:
__________________________________________________________________________________________
__________________________________________________________________________________________
Other
characteristics of my target market: (geography, occupation, income, life stage-student, marriage,
parent, etc.):
__________________________________________________________________________________________
__________________________________________________________________________________________
Size (
approximate number of people in my target market): ________________________________________
My competition is:
In the box below list other companies who provide similar products/services;
Company Name
Good /Service
Price Range
Explain why your goods and services are different/better than your competitors.
__________________________________________________________________________________________
__________________________________________________________________________________________
2
2020
BUSINESS PLAN
DESCRIPTION OF MARKETING PLAN
How do you appeal to your market?
Once you have your target market identified and you understand the characteristics of your potential customers,
the next step is convincing your customers that they really have to use your product or service. There are several
categories of marketing appeals that can help you make the sale.
Fun/pleasure: gives you excitement and enjoyment; brings your family together, helps you make
friends
Status: everyone is getting one; important people use it regularly; improves your performance
Attractiveness: makes you look nice and/or feel good: look more mature (or younger)
Price/high or low: more for your money; you deserve the very best
Quality: best product on the market; unlimited warranty.
Bandwagon: Everyone is getting one
Health: Use of product with improve health
Comparison: Shows one product is better than another
Security: use of product/service will make you feel safe
Testimonial: Someone explains how effective he/she feels a product is
List the
benefits of your product or service?
WIIFM: WHAT’S IN IT FOR ME? (CUSTOMER)
1. ______________________________________________________________
2. ______________________________________________________________
3. ______________________________________________________________
How do you let people know about your product/service? Here are just a few ideas.
Speak at community events. Free and easy way to get the word out about your business. Consider
writing a press release about the event including information about your business.
Ask customers for referrals. If your customers are happy with the product or service ask if them if they
know of other who may benefit. Make sure to give your customers business cards they can share.
Offer free samples. If you can get someone to try your product or service, chances are they'll buy it later.
Internet: Design a website to describe, advertise, and display the unique features of your product and
service. Use social media such as Facebook, LinkedIn, google+, etc. and let your friends know you
started a business.
Signs, posters, flyers, brochures, business cards, press releases, mass media (newspaper ads,
radio and television spots). These are a few common ways of promoting your business
Remember KISS AIDA in your advertising. KISS: Keep it simple Smarty. AIDA: Get the reader’s
ATTENTION, build INTEREST from opening statement, create DESIRE in the main part of
message, propel the buyer to ACTION.
What marketing strategies will you use to promote your product or service?
1. ______________________________________________________________
2. ______________________________________________________________
3. ______________________________________________________________
3
2020
BUSI
NESS PLAN
SALES AND DISTRIBUTION
What
is your sales plan? Sales plan should include goals, strategies, target market/accounts, and timeline to
stay on track and show progress.
Desc
ribe your sales goals. How much do you want to sell? Be specific and measurable.
Describe your sales activities/tactics. How do you plan on making the sale? What supplies
equipment/resources do you need (receipt books, clipboards, computer, etc)?
Who do you plan on selling to? How are you going to reach them? Where are you going to sell?
What is the timeframe for achieving your plans? Timelines can be fluid. If you are underachieving,
describe corrective actions to take.
What
is your customer service plan? Customer service =customer satisfaction
Plan for maintaining and building customer relations, dealing with problems, handling refunds, and
customer follow up
What
is your distribution plan? Decide how and where you want to distribute your products.
How w
ill products be distributed/services be provided? Will the customer go to a store, a website, a
marketplace to buy it? Will you bring the product/service to them through mail, in person delivery,
and/or on-line.
4
2020
BUSINESS PLAN
PRODUCT PRICING
How much is your product or service worth? Many new business owners either underprice or overprice their
product or service. You need to determine how much it costs you in materials to make, sell, and deliver your
product/service. You will also want to check out how much other businesses are charging for their products that
are similar or the same as yours. Your final price needs to cover what it costs you, plus a markup that gives you
a reasonable profit, and stills provides you customers the feeling they are getting a good deal.
The first goal you have to reach as a start-up business owner is the break–even point, where your income from
sales or service pays for the expenses of producing the product or providing the service. Before you can
determine your break-even point, you have to determine the cost of goods per unit. Use the charts below to
determine the 1) selling price for a product 2) Selling price for a service
.
Ingredients (for one unit)
My Costs
FIXED EXPENSE: Cost remains the same, whether you sell one or 1000 items
Equipment (purchase or rental)
Fees
Other:
VARIABLE COSTS: Cost fluctuates depending on how much product is being
produced
Raw materials
Advertising/Marketing
Shipping
Packaging
Labor
Other:
Other:
Total Production Cost: Add Fixed and Variable Costs
$
My Selling Price
1) Selling price=total production cost of goods x 2
2)Total Production Cost divided by ________ quantity of units
produced=________ cost per unit multiplied by ________ desired percent profit
(10%=.10) equals ________ sale price per unit
Selling Price for a Service
Your hourly rate X Time it takes to do the job + Cost for equipment, supplies and travel=Selling Price
5
2020
BUSINESS PLAN
FINANCIAL/BUDGET
A budget is plan for allocating resources: a plan specifying how resources, especially time or money, will be
allocated or spent during a particular period. To create a budget, you must estimate your projected income and
expenses. A budget is important because it forces you to carefully consider how you will earn enough income to
cover your expense and make a profit. A budget is more useful if you itemize (put income and expense in
specific categories).
Income/Revenue: Money coming into the business.
Starting Funds:
$
Projected Sales of
$
Projected Sales of
$
Projected Sales of
$
Other (Describe):
$
Other (Describe);
$
Total Income: Add all projected income together
$
Projected Expenses: Money going out of the business
Raw materials
$
Equipment and Tools
$
Advertising/Marketing
$
Office Supplies
$
Packaging
$
Location Preparation/Facility Fees/Rent
$
Employee Wages/Salaries
$
Other:
$
Other:
$
Other :
$
Total Expenses: Add all projected expenses together
$
Total Income-Total Expenses= Profit ___________-____________=______________
Other Financial Considerations
1. What amount of money will you need to start your business? Will you borrow money for start-up costs?
2. What will be your sources of funding? Have you researched several lending institutions?
3. Describe how the profits will be distributed and/or used. For example, will it be distributed by number of
items sold? By the amount of time worked in the business? Will it be divided evenly by all business
owners or by the amount of stock held by stockholders? Will money be reinvested into the company?
6
2020
