Pros of using a business plan template: A good business plan template can help you get your thoughts organized.
It can provide a guideline so you’re not stuck looking at a blank page trying to figure out where to start.
Cons of using a business plan template: While there are benefits to using a business plan template, depending on your situation it may not be the best way to complete your plan. For instance, not only do you have to complete the financial spreadsheets, but you have to do the math yourself.
You’ll also have to know enough about the process to be sure you’re getting the numbers in the right place.
The business plan template below is broken into sections as described in the table of contents.
Each section of the template can be copied into a Word, Excel or similar office document by selecting the text and using copy/paste.Once you complete your simple business plan be sure to format it attractively, print it and get it professionally bound.You want your business plan to convey the best possible physical impression; make it something people are going to want to pick up and look at.In this section, you need to demonstrate that you have thoroughly analyzed the target market and that there is enough demand for your product or service to make your business viable.The competitive analysis includes an assessment of your competition and how your business will compete in the sector.A standard business plan consists of a single document divided into several sections including a description of the organization, the market research, competitive analysis, sales strategies, capital and labor requirements, and financial data.The resulting document can serve as the blueprint for your business and be supplied to financial institutions or investors if debt or equity financing is needed to get your business off the ground.The executive summary should be no more than two pages long, with brief summaries of other sections of the plan.See How to Write the Executive Summary of the Business Plan to get you started.The executive summary goes near the beginning of the plan but is written last.It provides a short, concise, and optimistic overview of your business that captures the reader's attention and creates a need to learn more.