develop a business plan proposal

We use essential cookies to make Venngage work. By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Manage Cookies

Cookies and similar technologies collect certain information about how you’re using our website. Some of them are essential, and without them you wouldn’t be able to use Venngage. But others are optional, and you get to choose whether we use them or not.

Strictly Necessary Cookies

These cookies are always on, as they’re essential for making Venngage work, and making it safe. Without these cookies, services you’ve asked for can’t be provided.

Show cookie providers

• Google Login

Functionality Cookies

These cookies help us provide enhanced functionality and personalisation, and remember your settings. They may be set by us or by third party providers.

Performance Cookies

These cookies help us analyze how many people are using Venngage, where they come from and how they're using it. If you opt out of these cookies, we can’t get feedback to make Venngage better for you and all our users.

• Google Analytics

Targeting Cookies

These cookies are set by our advertising partners to track your activity and show you relevant Venngage ads on other sites as you browse the internet.

• Google Tag Manager
• Infographics
• Daily Infographics
• Popular Templates
• Accessibility
• Graphic Design
• Graphs and Charts
• Data Visualization
• Human Resources
• Beginner Guides

Blog Business How to Write Business Proposal (Examples + Free Templates)

How to Write Business Proposal (Examples + Free Templates)

Written by: Aditya Sheth Jan 25, 2024

The great Mark Cuban once said, “Sales cure all.” If a business doesn’t sell, it doesn’t make money and by extension the business fails. That’s why you need to write business proposals .

A well-written business proposal can often mean the difference between winning or losing a prospective client.

In this in-depth guide to creating business proposals, we show you how to close more deals, make more sales and crush your business goals — all by using easy-to-edit professional business proposal templates .

Here’s what this guide will cover (click to jump ahead):

What is a business proposal, what are the components of a business proposal.

• How to write a business proposal step by step

What should you include in a business proposal?

What are the types of business proposals, more business proposal examples + writing and design tips.

• FAQs about business proposals

Looking for a shortcut? Watch this quick video for an overview of everything to include in your business proposal:

A business proposal is a document designed to outline a business plan to convince potential client, investor or partner to engage in a business agreement with you or your company. It’s basically a sales pitch in writing to persuade potential clients to show them benefits of working with you or your company for their business success.

A business proposal outlines what your business does and what you can do for your client . It can be general like this business proposal example:

Or it can be more specific, like this business proposal template which focuses on proposing a project for the Newton Center Rail:

Or this business proposal sample, which presents a plan for a social media strategy and campaign:

To design a business proposal that holds the client’s attention, identify their pain points . Then provide your buyer with the right solution to alleviate those frustrations.

Working on a new project? These project proposal examples might come in handy for you.

The components of a business proposal can change depending on the field, company size and client needs. While details may differ, strong proposals typically introduce your company, explain the problem, offer a solution and its benefits, highlight your team’s skills, and outline timeline, cost and next steps.

How to write a business proposal step by step

Before you start creating your business proposal template, you need to understand the business proposal format. At a high level, your effective business proposal should include the following:

• Create a compelling business proposal title
• Build a table of contents
• Craft the executive summary
• Write a detailed problem statement
• Propose your solutions
• Showcase your team’s expertise
• Create a realistic timeline
• Present your payment structure
• Specify the terms and conditions
• Receiving the decision

Below, you can see business proposal examples that demonstrate how to include these 10 sections.

1. Create a compelling business proposal title

A compelling title could mean the difference between someone reading your proposal or ignoring it in favor of a competitor’s . 

What makes a good title page? Here are the essential elements to include: 

• Your name along with your company’s name
• The name of the prospect (or their business) 
• The date you’re submitting the proposal

The gray business consulting proposal template above contains all the details a prospect would want to know. The title also offers a strong tangible benefit to the prospective buyer. Honestly, “Who doesn’t want to grow their business?”

2. Build a table of contents

The table of contents is a fundamental part of every winning business proposal template. It makes your proposal scannable and easy to read.

The people you will be pitching to are usually C-level executives. These are busy people who don’t have time to read your entire proposal in one go.

That’s why most of the business proposal examples in this list include a table of contents.

Adding a table of contents to your document makes it easy for them to go through it at their own pace. They can also skim through parts of the proposal that they deem more important. You can see how this abstract business proposal template uses the table of contents:

You can also make your business proposal template easier to navigate by adding hyperlinks to the document, particularly in the table of contents. This way your clients can jump to specific sections without having to scroll through the entire document. Ensuring your business plan format follows a clear structure can greatly enhance readability and comprehension for potential investors or partners.

It’s easy to add hyperlinks in the Venngage editor. Select the text you’d like to turn into a link, then click the link icon in the top bar. From there, select the page you want to link to! Then download your completed design as an Interactive PDF .

3. Craft the executive summary

The executive summary is a staple in all kinds of annual reports , leadership development plan , project plans and even marketing plans . It is a concise summary of the entire contents of your document. In other words, write a business proposal outline that is easy to glance over and that highlights your value proposition.

The goals of your executive summary are:

• Introduce your company to your buyer
• Provide an overview of your company goals
• Showcase your company’s milestones, overall vision and future plans
• Include any other relevant details

This gray business proposal example has a detailed yet short executive summary including some social proof in the form of clients they’ve worked with:

Take note of how precise this business proposal example is. You want to keep your executive summary concise and clear from the get-go. This sets the right tone for the rest of your proposal. It also gives your buyer a reason to continue reading your proposal.

Crafting an executive summary and keeping it concise and compelling can be challenging. but you can use an AI summarizer online to generate an executive summary. Such tools are trained on relevant AI models that can extract core points from a given text. You can get such a point either in bullet form or in abstract summary form.

Pro Tip: Try to write an executive summary such that, even if your prospective client doesn’t read the entire proposal (with a good executive summary, they most likely will), they should have a clear idea about what your company does and how you can help them.

4. Write a detailed problem statement

The point of writing a business proposal is to solve a buyer’s problem. Your goal is to outline the problem statement as clearly as possible. This develops a sense of urgency in your prospect. They will want to find a solution to the problem. And you have that solution.

 A well-defined problem statement does two things: 

• It shows the prospect you have done your homework instead of sending a generic pitch
• It creates an opportunity for you to point out a problem your prospect might not be aware they had in the first place. 

This bold business proposal template above clearly outlines the problem at hand and also offers a ray of hope i.e. how you can solve your prospect’s problem. This brings me to… 

5. P ropose your solutions

The good stuff. In the proposed solution section, you show how you can alleviate your prospective buyer’s pain points. This can fit onto the problem statement section but if you have a comprehensive solution or prefer to elaborate on the details, a separate section is a good idea.

Spare no details regarding the solution you will provide. When you write a business proposal, explain how you plan to deliver the solution. Include an estimated timeline of when they can expect your solution and other relevant details.

For inspiration, look at how this business proposal template quickly and succinctly outlines the project plan, deliverables and metrics :

6. Showcase your team’s expertise

At this point, the prospect you’re pitching your solution to likes what they’re reading. But they may not trust you to deliver on your promises. Why is this?

It’s because they don’t know you. Your job is to convince them that you can fix their problem. This section is important because it acts as social proof. You can highlight what your company does best and how qualified your team is when you write a business proposal for a potential client.

This free business proposal template showcases the company’s accolades, client testimonials, relevant case studies, and industry awards. You can also include other forms of social proof to establish yourself as a credible business. This makes it that much more likely that they will say yes!

Pro Tip: Attaching in-depth case studies of your work is a great way to build trust with a potential client by showcasing how you’ve solved similar problems for other clients in the past. Our case study examples post can show you how to do just that.

7. Create a realistic timeline

To further demonstrate just how prepared you are, it’s important to outline the next steps you will take should your buyer decide to work with you.

Provide a timeline of how and when you will complete all your deliverables. You can do this by designing a  flow chart . Or add a  roadmap  with deadlines. Pitching a long-term project? A timeline infographic would be a better fit.

If you look at this abstract business proposal template below, even something as simple as a table can do the trick.

The timeline is not always set in stone, rather it’s an estimation. The goal is to clarify any questions your potential client might have about how you will deliver for the underlying B2B sales process.

8. Present your payment and terms

On this page, you can outline your fees, payment schedule, invoice payment terms , as well as legal aspects involved in this deal. You can even use the  Excel Invoice Template  to create professional-looking invoices (including brand logo and other elements) and add them to this page.

The adoption of invoice templates is beneficial for small businesses as it streamlines the invoicing process and maintains professionalism in financial dealings. Also, by utilizing small business invoice templates , you can efficiently manage invoicing tasks while upholding a polished and structured approach to financial transactions.

The key to good pricing is to provide your buyer with options. A  pricing comparison table can help with this. You want to give your client some room to work with. Make sure you’re not scaring off your client with a high price, nor undervaluing yourself. 

Breaking up your pricing in stages is another great way to make sure your potential client knows what he’s paying for. Look at how this simple business proposal template does this:

The legal aspects can slot right into the terms and conditions section. Alternatively, you can add them to the signature section of the proposal to keep things simple.

9. Specify the terms and conditions

Summarize everything you have promised to deliver so far. Include what you expect from your prospective buyer in return.   Add the overall project timeline from start to end, as well as payment methods and payment schedule, incorporating these details into an online digital project management tool. This way, both of you will be clear on what is being agreed on.

This step is very important as it outlines all the legal aspects of the deal. That is why the terms and conditions section of your proposal needs to be as clear as possible.

I recommend consulting a lawyer or your legal team when working on this section of the business proposal. If you’re a business veteran and understand the legalities of your business, you can use the same terms and conditions across all your proposals.

10. Receiving the decision

The final step of this whole process. Your client has read your business proposal and they want to buy what you have to offer.

Add a small section at the end of your proposal to get the necessary signatures. This way, you and your client can sign the proposal and the partnership becomes official.

Be sure to also include your contact information in your business proposal template. It acts as a gentle prompt to your client to contact you in case they have any questions. A professional way of doig that would be to include an e-business card with your contact details, email i.d and any other social links you want to share. You can go through this article for the best digital business cards .

A business proposal usually aims to answer the following questions: 

• Who you are and what your company does
• The problem your buyer is facing
• The solution your company offers to alleviate the problem
• How your company will implement this solution effectively
• An estimate of resources (time, money, etc) required to implement the solution

You can see how this sample business proposal template covers the above points.

Notice how this proposal template addresses the same project like in one of the previous templates, but uses a completely different design style (more retro, while the previous business proposal template is more modern and minimalistic).

Generally, there are three types of business proposals:

1. Formally solicited 

A formally solicited business proposal is made when you respond to an official request to write a business proposal.

In this scenario, you know all the requirements and have more (if not all) information about a prospective buyer. You simply need to write the business proposal for your buyer to evaluate so you can begin the sales process .

2. Informally solicited 

Informally solicited business proposals are written when there isn’t an official request for a proposal. A prospective buyer is interested in your services and asks for a proposal so they can evaluate it.

An informally solicited proposal requires a lot more research from your end. These types of proposals are usually created out of informal conversations. They are not based on official requests which often contain more detail.

3. Unsolicited 

Think of this as a marketing brochure or a cold email . Unsolicited business proposals will often take a generic, one-size-fits-all approach to business proposals. Unsolicited proposals lack any understanding of the buyer or their requirements.

But with additional  market research , personalization and identifying customer pain points , you can propose a customized solution based on your buyer’s needs. This can be a very persuasive approach, such as in this business proposal example:

Now that you know how to write a business proposal, let’s look at how you can optimize your proposal to deliver results!

Below you’ll find some winning business proposal templates and examples to get you started. I’ve also included some design tips to keep in mind when you’re creating your next business proposal: 

1. Know your audience 

If you have some clarity on who your ideal buyer is — their pain points, their budget, deadlines, among other things — you’ve already won half the battle.

If you are a business that helps clients with everything from running giveaways or helping grow their blog , identify which customers to pitch. This is a sure-shot way to close the deal.

Mapping user personas  for your ideal buyer can help bring some clarity. It will also help you position your business proposal correctly. This improves the chance of your buyer moving your business proposal to the “Yes!” pile.

2. Put your brand front and center

If your company follows certain brand guidelines, incorporate them in your business proposal templates. Consider how business proposal examples like the one below highlight brand identity :

From the color palettes to the company logos , everything follows their brand guidelines. The result: a business proposal that’s consistent across the board.

Pro Tip: Switching this template to match your brand assets is actually pretty easy. Venngage’s My Brand Kit feature allows you to import your color palettes, logos as well as font choices. Any Venngage template can now be your template.

You can also consider this sample business proposal template:

App design companies sure do know their design. They did a phenomenal job keeping their brand colors consistent while opting for a black design. This unique color scheme also makes their white logo prominent throughout the proposal.

3. Try less text, more visuals

Have you ever read a proposal and thought to yourself, “Wow, this is all text and has no images, I love it!”? Yeah, me neither.

The free business proposal template below is a perfect example of the “less is more” principle. It does a phenomenal job of communicating what it needs to. By substituting some of the text with icons and visuals, you get a clean business proposal that’s much more scannable.

Want to keep things strictly professional? Instead of icons, you can always add your team’s headshots. This shows your buyer exactly who they’ll be working with.  

Check out this formal business proposal format for some inspiration:

4. Switch up your business proposal designs

It doesn’t hurt to go above and beyond once in a while. Jazz up your business proposal template with some extra colors. This helps make your business proposal more engaging. It also helps your buyers retain information faster.

The business proposal example alternates between black, white and grey backgrounds. It still manages to maintain consistency in its branding . Just switching up your backgrounds once in a while can also bring in some variety to an otherwise standard business proposal.

This SEO business proposal sample proves that it’s possible to switch up the colors in every other page. But it still maintains the same color scheme across the entire proposal just like a professionally designed website : 

Pro Tip: Not a color expert? Our guide on picking colors can help you pick the right color scheme for your proposals.

FAQ about business proposals

What is the purpose of a business proposal.

A business proposal aims to streamline the B2B sales process (which is often complex ) between you as a seller and a buyer.

It does this by serving the dual purpose of acting as a source of information. The proposal also acts as a sales pitch aimed at convincing your buyer why they should buy what you have to offer.

What are the best practices for business proposal design?

• Do a thorough spell-check. The goal of your business proposal is to convince your buyer why you’re the perfect person for the job. A proposal with typos or grammatical errors communicates the opposite. A thorough spell-check before you send your proposal is a must.
• Keep things clear and readable: Clarity is an important aspect that you have to ensure in your business proposal. If you want your proposal to hit home and make an impact on the buyer, you have to write it in an understandable way. To keep things clear and readable, there are a couple of things that you can do. You can, for one, take care to use easy wording and segmented sentences from the get-go. You can also try paraphrasing the hard parts of your proposal once you are done writing it.
• Let your brand shine. As discussed before, writing a business proposal is all about knowing your ideal buyer and focusing on their pain points. But that doesn’t mean your business proposal template has to be boring. Demonstrate how different you are compared to other companies. You can do this through your brand guidelines , by using more visuals, switching up your proposal design or showing off your personality in your writing . 
• Create a business proposal PDF. Downloading your business proposal in PDF format allows you to attach other collaterals with your business proposal. These can include a company explainer video or case studies showcasing the work done with past clients. Also, who doesn’t love saving paper?

How long should your business proposal be? 

The length depends on the scope of the work as well as the complexity of the project. Here is a one-page business proposal template:

Can your business proposal template really be one page? Yes, as long as you understand who your buyer is and their pain points. You should also have the ability to communicate everything your ideal buyer needs to know about your business in a succinct manner.

Or if you’re feeling adventurous how about just two pages? Often, clients prefer if you go straight to the point and avoid all the fluff.

For example, this green modern marketing proposal template wastes no time in getting down to brass tacks:

Need more inspiration? Check out this blog on the 5 marketing proposal examples that’ll help elevate your business.

There is no one size fits all approach when it comes to deciding how many pages you should include in your business proposal template. And at the end of the day, “the only rules are the ones you set for yourself”.

At the end of the day, writing winning business proposals that sell is all about you understanding your buyer, their potential pain points and positioning yourself as someone who can alleviate those pain points. 

Now that you know how to write compelling business proposals, what are you waiting for?

Take action and start creating your own business proposals to close more deals and grow your business today!

More business communications templates + writing tips you might be interested in…

• 31 Consulting Proposal Templates to Close Deals
• 20+ Professional Business Letterhead Templates + Branding Tips
• How to Write a White Paper [Tips & Templates]

Discover popular designs

Infographic maker

Brochure maker

White paper online

Newsletter creator

Flyer maker

Timeline maker

Letterhead maker

Mind map maker

Ebook maker

How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

Table of Contents

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

Featured Partners

ZenBusiness

$0 + State Fees

Varies By State & Package

On ZenBusiness' Website

On LegalZoom's Website

Northwest Registered Agent

$39 + State Fees

On Northwest Registered Agent's Website

Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business. 

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

• Best VPN Services
• Best Project Management Software
• Best Web Hosting Services
• Best Antivirus Software
• Best LLC Services
• Best POS Systems
• Best Business VOIP Services
• Best Credit Card Processing Companies
• Best CRM Software for Small Business
• Best Fleet Management Software
• Best Business Credit Cards
• Best Business Loans
• Best Business Software
• Best Business Apps
• Best Free Software For Business
• How to Start a Business
• How To Make A Small Business Website
• How To Trademark A Name
• What Is An LLC?
• How To Set Up An LLC In 7 Steps
• What is Project Management?

Free Mission Statement Template (With Examples)

How To Start A Print On Demand Business In 2024

HR For Small Businesses: The Ultimate Guide

How One Company Is Using AI To Transform Manufacturing

Not-For-Profit Vs. Nonprofit: What’s The Difference?

How To Develop an SEO Strategy in 2024

Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry.

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University. Additionally, she is a Columnist at Inc. Magazine.

Small Business Trends

How to create a business plan: examples & free template.

This guide has been designed to help you create a winning plan that stands out in the ever-evolving marketplace. U sing real-world examples and a free downloadable template, it will walk you through each step of the process.

Table of Contents

How to Write a Business Plan

Executive summary.

The Executive Summary serves as the gateway to your business plan, offering a snapshot of your venture’s core aspects. This section should captivate and inform, succinctly summarizing the essence of your plan.

Example: EcoTech is a technology company specializing in eco-friendly and sustainable products designed to reduce energy consumption and minimize waste. Our mission is to create innovative solutions that contribute to a cleaner, greener environment.

Overview and Business Objectives

This part of the plan demonstrates to investors and stakeholders your vision for growth and the practical steps you’ll take to get there.

Company Description

Include information about the company’s founders, their expertise, and why they are suited to lead the business to success. This section should paint a vivid picture of your business, its values, and its place in the industry.

Define Your Target Market

Example: Our target market comprises environmentally conscious consumers and businesses looking for innovative solutions to reduce their carbon footprint. Our ideal customers are those who prioritize sustainability and are willing to invest in eco-friendly products.

Market Analysis

Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.

SWOT Analysis

Competitive analysis.

In this section, you’ll analyze your competitors in-depth, examining their products, services, market positioning, and pricing strategies. Understanding your competition allows you to identify gaps in the market and tailor your offerings to outperform them.

Organization and Management Team

Example: EcoTech’s organizational structure comprises the following key roles: CEO, CTO, CFO, Sales Director, Marketing Director, and R&D Manager. Our management team has extensive experience in technology, sustainability, and business development, ensuring that we are well-equipped to execute our business plan successfully.

Products and Services Offered

Marketing and sales strategy.

Describe the nature of your advertising campaigns and promotional activities, explaining how they will capture the attention of your target audience and convey the value of your products or services. Outline your sales strategy, including your sales process, team structure, and sales targets.

Logistics and Operations Plan

Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.

Financial Projections Plan

In the Financial Projections Plan, lay out a clear and realistic financial future for your business. This should include detailed projections for revenue, costs, and profitability over the next three to five years.

Income Statement

The income statement , also known as the profit and loss statement, provides a summary of your company’s revenues and expenses over a specified period. It helps you track your business’s financial performance and identify trends, ensuring you stay on track to achieve your financial goals.

Cash Flow Statement

Tips on Writing a Business Plan

3. Set realistic goals: Your business plan should outline achievable objectives that are specific, measurable, attainable, relevant, and time-bound (SMART). Setting realistic goals demonstrates your understanding of the market and increases the likelihood of success.

FREE Business Plan Template

To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.

What is a Business Plan?

Why you should write a business plan, what are the different types of business plans.

In today’s fast-paced business world, having a well-structured roadmap is more important than ever. A traditional business plan provides a comprehensive overview of your company’s goals and strategies, helping you make informed decisions and achieve long-term success. There are various types of business plans, each designed to suit different needs and purposes. Let’s explore the main types:

Using Business Plan Software

Enloop is a robust business plan software that automatically generates a tailored plan based on your inputs. It provides industry-specific templates, financial forecasting, and a unique performance score that updates as you make changes to your plan. Enloop also offers a free version, making it accessible for businesses on a budget.

Business Plan FAQs

What is a good business plan, what are the 3 main purposes of a business plan, can i write a business plan by myself.

We also have examples for specific industries, including a using food truck business plan , salon business plan , farm business plan , daycare business plan , and restaurant business plan .

Is it possible to create a one-page business plan?

How long should a business plan be, what is a business plan outline, what are the 5 most common business plan mistakes, what questions should be asked in a business plan.

A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?

What’s the difference between a business plan and a strategic plan?

How is business planning for a nonprofit different.

• Start free trial

Start selling with Shopify today

Start your free trial with Shopify today—then use these resources to guide you through every step of the process.

How To Write a Business Proposal in 2024 (Examples + Tips)

Want to write a formal business proposal? Get a step-by-step guide, with free business proposal examples and templates.

A business proposal is key to closing more lucrative deals and winning clients. It’s a document that outlines your products, value proposition, and qualifications, and encourages a company to work exclusively with you.

But few people know how to write a business proposal when they start a business . Business proposals can also be time consuming to write, because each one requires a level of customization. 

Ahead, you’ll get a step-by-step tutorial on how to write a business proposal for your brand, with tips and examples along the way. Use the following guide as a template to tweak for each potential customer you submit proposals for in the future. 

What is a business proposal?

A business proposal is a document sent to prospective clients in the hopes of working with them on a specific project⁠ or in partnership. The contents of a business proposal can be something small in scope, like an SEO strategy document, or something large, like a proposal to run a company’s marketing efforts for them.

Business proposals can range in the topics they cover, depending on the nature of the involved businesses and your proposed solution.

At the most basic level, business proposals are about addressing the needs of prospective clients and showing them why your company is the best to fill those needs. For businesses focused on business-to-business (B2B) services especially, knowing how to write an effective business proposal is crucial to growth.

What are the types of business proposals?

There are different types of business proposals, depending on the service and the nature of the project being proposed, but they typically fall into three distinct categories:

Formally solicited proposals

Formally solicited business proposals are used when a client you’re hoping to work with formally asks for a proposal, usually through a publicly posted request. 

Your business, in response to this request, would write a proposed solution based on the specific needs and requirements of the potential client or customer.

Informally solicited business proposals

Informally solicited business proposals typically are written following conversations between a prospective client and a vendor. Usually in this case, the customer is not asking for competing proposals, and there tends to be few formal requirements. 

Unsolicited business proposals

These proposals usually are more generic in nature, acting as a sort of marketing brochure. Unsolicited proposals typically are used at trade shows or other public venues, where a business is shopping around for prospective clients. 

While they can generate business to some extent, unsolicited business proposals can sometimes be seen as spammy or, worse, unprofessional.

Not all proposals fit neatly into these three categories. There are proposals that might start off as formally solicited but then be adapted into unsolicited proposals. But having a high-level understanding of each of the three common types will help you adjust where needed.

How to write a business proposal in 9 steps

• Create your title page
• Compile a table of contents
• Write a cover letter
• Write an executive summary
• Outline your customers’ problem and your company’s solution
• Create a pricing table
• Share more information about your company
• Summarize your qualifications
• Lay out the terms of the agreement

Business proposals can vary in how they’re formatted, but there are a few elements they all should contain. You can always compare your proposals with a free business proposal template to ensure you’re on track.

1. Create your title page

The title page acts as your proposal’s “cover,” so its aesthetics are especially important. Your title page should convey a couple of pieces of basic information about your business and the proposal, such as the title of the proposal, your business’s name and contact information, and the date you’re submitting the proposal (or the date the proposal is crafted, in the case of unsolicited proposals).

Your title page should be professional, but still should seek to grab the reader’s attention and draw them in. It sets the tone of your proposal, so, like any advertisement, it should convey your brand’s aesthetics and character. It’s usually a good idea to include your company logo somewhere too. 

Avoid complicated graphics that may distract from the central message of the proposal. Here’s an example of what a well-designed business proposal might look like:

The cover of your business proposal is the first thing your client will see, so it’s important to convey your brand in a way that’s succinct, yet specific. Think of it like any visual content: Viewers will only glance at it for a brief moment, so it must convey a lot of information, very quickly.

2. Compile a table of contents

A table of contents makes it easier to navigate a document, so it should come near the beginning, after either the title page or the cover letter.

Your contents page should list the sections of your proposal chronologically. Avoid getting too granular with sub-sections, as this can come off as noisy and overwhelming.

A good strategy is for the items on your list to reflect specific pain points or questions the reader may have.

3. Write a cover letter

Not to be confused with your title page, your cover letter serves as an introduction to you and your business. Some proposals might even include the cover letter before the table of contents as a way of setting up the entire proposal.

Your cover letter should be short and no more than one page. In a few paragraphs, briefly describe your company’s background, mission statement , and unique selling proposition .

Your cover letter should be friendly and polite⁠—don’t forget your pleases and thank yous. Include your contact information and encourage your readers to reach out to you with any questions.

Unlike a résumé cover letter, visual graphics are encouraged, especially if they illustrate an important aspect of your brand’s accomplishments or mission.

4. Write an executive summary

The executive summary may be the most important part of your proposal. It provides details about why you’re sending the proposal and why you’re the client’s best option for solving their problem or filling their needs.

Your executive summary acts similarly to a value proposition that shows the ways your company is unique and how your prospective client will benefit from working with you.

Executive summaries summarize, but they still should be specific. Identify the client’s exact issues, explain what your company does, and outline your proposed solutions to the client’s problems. There’s no need to cover logistics or strategies here—that will be covered later in the proposal.

Your executive summary should be finely tuned to the client’s needs. Even if you’re passing the proposal document on to many potential clients, it should read as though it was written for one client specifically. If different potential customers have different problems, you’ll want to make adjustments to your summary for each of them.

Be mindful of your tone here as well. A company that rents out party buses for college students will expect a very different tone than a company offering financial advice to seniors. 

Your summary should give the reader a clear idea of how your company can help them, and invite them to continue reading for more details. The summary should be specific enough to act as a standalone document but brief enough that it will inspire additional questions. 

Your executive summary should be about two to four pages, but try to keep it short if your overall proposal isn’t very long. Remember that the details will come later.

5. Outline your customers’ problem and your company’s solution

When writing your proposal pages, it helps to consider what questions your client will have and provide them with detailed answers. 

In this section, you’ll go into more detail about the solutions you offered in your executive summary. Your summary explained what you can do and why you’re the ideal client to do it. In the proposal pages, you’ll cover how you plan on doing it and when it can be done (a time frame).

Many writers of business proposals think of their proposal pages in terms of problems and solutions. With each proposal, start by outlining the potential issues the client might face. In doing this, you show your potential clients that you have a deep understanding of their needs.

Problem and solution pages require a lot of research. You want to show potential clients you’ve done your homework: You understand the client’s needs and know exactly what they want to do. 

How you choose to break down the client’s problems and solutions is up to you. Some proposal document writers will list a number of problem statements alongside detailed deliverables. Other proposals might focus on one or two larger problems and provide a list of solutions to them. 

Timetables are also important here. Potential clients will want to know how quickly you’ll be able to enact your solution and when they can expect to see results. Timetables answer these questions and, as a bonus, they’re also a handy visual tool that break up text.

Your own proposal needs to break down problems and solutions in a way that’s appealing to your prospective client and makes sense for your industry, so there’s no one-size-fits-all approach to this section.

That said, it’s a good idea to break up your proposal content into sections that identify each problem and propose a solution. Here are some key points to address for each section:

• The problem. Use data to back up your claims, and be specific about where your client may be falling short of their goals. 
• Implementation. Explain in detail what changes you plan on making, how long it will take to make these changes, and the purpose of making these changes. 
• Goals. Explain how you will evaluate the success of your solution and when your client can expect to see results from the changes you’ve implemented. 
• Benefits. Draw upon the assessment of the problem and explain the nature of the impact these changes will make.

Your proposal pages should cover all of the details of the plans you will implement. It’s best to break down the text into bite-sized chunks so it’s easier to read. Decorative graphics should be avoided here, but visual tools like charts and graphs are great for illustrating your points.

6. Create a pricing table

A pricing table should follow your problem and solution pages. It includes all of your products and services, paired with their pricing information.

How you structure your pricing strategy is largely dependent on the type of service you’re offering. But it’s usually a good idea to provide prospective clients with options. A single flat fee makes your proposal a yes or no question, which is easy to reject.

Adding pricing options provides clients with a more negotiable starting point, opening up the conversation about their particular needs, rather than acting as an end point.

Your pricing structure should be formatted in a table that’s easy to read. Offer recurring payment options, both monthly and yearly. Give discounted rates for long-term commitments, and offer add-ons and upgrades. Transparency is crucial in this section. Make sure it’s easy for your clients to understand what they’re paying for and what options they have for customizing your service. Nobody likes hidden fees or fine-print stipulations. Include all the details of your pricing options in a way that’s clear and concise.

Depending on the type of business you’re in, you may not want to include your pricing upfront before serious discussions have been had, but it’s important to get into the habit of effectively communicating your pricing regardless.

PROPOSAL TIP: Some proposal software tools offer responsive pricing tables that allow your clients to adjust their plan to fit their needs and automatically recalculates their total.

Learn more: Psychological Pricing: What Your Prices Really Say to Customers

7. Share more information about your company 

Like an About Us page on your website, your business proposal should share the story of your business, with you, the founder, as that story’s main character. A good About Us page should be brief, but still contain all the elements of a compelling narrative:

• Setting. Set the scene: Introduce the story’s protagonist(s), yourself, and your co-founders, and describe how you came together to form your business.
• Conflict. What problem inspired you to start your business? Describe the issue your business identified and set out to solve.
• Plot. How did you and your team set out to find the solution to your problem? What challenges did you face and how did you overcome them?
• Resolution. What was your solution? How has it changed your industry? What milestones have you hit and how did your business set out to solve the problem?
• Characters. Introduce the rest of your team. Offer brief bios of your team members and introduce your clients to the people they’ll be working with on your project. 
• Denouement. What comes next? Describe what you see in your company’s future. Talk about how you intend to continue pursuing your goals. Make sure to set yourself up for a good sequel.

8. Summarize your qualifications

In your cover letter, you touched on what makes your company uniquely qualified to solve your customers’ problems. In the qualifications summary, you’ll go into detail about why your business is best qualified to help potential customers achieve their goals.

The best qualifications summaries rely on social proof to make their case. Include case studies of previous clients, customer testimonials, praise on social media, endorsements from trusted experts in your field, and anything else that might showcase the value you provide your clients.

For example, Omsom , a shop that sells delicious Asian sauce starters that help people make speedy restaurant-quality dinners, includes endorsements from Vice , CNN, and Vogue on its homepage.

9. Lay out the terms of the agreement

At the end of your marketing proposal, outline the terms and conditions of your proposal for the client. Some proposals can be legally binding, so work with a legal expert to craft this section.

Not all business proposals include a contract, so if your proposal is meant to draw your client into further negotiations, you might just include a simple call to action that provides instructions on following up with you for further negotiation.

If you do include a legally binding contract, make sure to provide clients with a space for signing the agreement, or indicating their preferred method of moving forward.

How to follow up on your business proposal

Waiting to hear back from clients during the sales process can be a little nerve-wracking, but it’s important to remain patient. Give potential decision-makers some time⁠—remember that they still need to tend to the day-to-day functions of their business.

If you haven’t heard back and want to give them a little nudge, here are some tips for following up on your proposal:

Give them time

Wait at least a week before sending a follow-up. If they’ve confirmed receipt of your proposal, give them a week from the date of confirmation. Keep in mind that they may want to discuss your proposal with their team before reaching back out to you.

Grab their attention with a good subject line

As with other types of email marketing , a compelling subject line will increase the likelihood of them opening your email.

No need to go into finer details here⁠—let your proposal do the talking. Use your follow-up to emphasize you’re available for any questions, and make it easy for them to reach back out to you.

Avoid high-pressure, salesy language

Your goal here is securing a partner, not a customer. Hacky advertising cliches like, “Don’t miss out on this exciting opportunity!” will come off as alienating to potential clients.

Be friendly, approachable, and authentic

Your follow-up is an opportunity to preview what it will be like working with you. Be polite, but casual⁠—as though you’re reaching out to your favorite work colleague. 

Know when to quit

It’s easy to overlook one or two emails, but much harder to overlook three or four. If your client hasn’t responded to three follow-ups, it’s time to move on.

Where to find business proposal templates

If you’re just starting a business and have never written a business proposal before, it’s a good idea to take a look at a few of them to get an idea of how they’re composed for different types of businesses . 

Here are some good places to find business proposal examples and templates to help you:

1. PandaDoc

PandaDoc boasts a wide library of more than 167 free business proposal templates. Other features include interactive quote pages, contract templates, and e-signature capabilities. 

Canva offers a wide variety of free business proposal examples. It allows you to filter them by style and theme, making it easy to find a template that matches your branding.

3. Proposify

Proposify offers lots of templates for business proposals and business contracts that include features like electronic signatures, interactive client previews, language translation, and data metrics that help you track open rates⁠—which is especially useful if you’re sending your proposal to multiple clients. 

Jotform includes a wide collection of free and paid PDF templates for proposals in all kinds of industries, for all kinds of projects. Templates are converted into PDFs for easy printing, and even include a feature that allows your clients to sign your agreement digitally. 

5. Better Proposals

Better Proposals offers free resources for business owners looking to learn more about how to write proposals. Along with business proposal templates, it also has templates for quotes, contracts, and online brochures.

Grow your small business with the right proposal

Working with clients is an incredible opportunity to grow your business. Building strong, working relationships in your industry will also open up new avenues for growth and increase your reputation among your peers. 

A lot of work goes into creating a business proposal, but learning how to compose an effective business proposal will set you up for years of success. No matter what industry you’re in, there will likely come a time when you’ll need to write a business proposal.

The more satisfied customers you have, the easier it will be to attract new clients. Each new opportunity at a partnership is a stepping stone toward continued success. 

• Trimming It Down- How to Create a Lean Business Plan
• How to Write a Food Truck Business Plan
• A 14-Point Ecommerce Checklist to Launch Your Shopify Store
• How to Turn a Hobby into a Business in 8 Steps
• How to Scale Sales on eBay
• 10 Most Popular Domains
• How to Find Out Who Owns a Domain Name
• LLC vs. Corporation- How Are They Different?

How to write a business proposal FAQ

How long should a business proposal be.

A business proposal, ideally, should be less than 10 pages, but its length is largely dependent on the type of proposal you’re writing and how far your services stretch. Things like your cover letter, summary, and pricing page should be kept short—no more than two pages for each. The majority of your proposal should be your proposal pages, which go into detail about each aspect of your proposal.

What are the different parts of a business proposal?

A basic business proposal consists of a title page, tables of contents, cover letter, executive summary, proposal pages, pricing page, additional info about your business, and the agreement you’re proposing.

What is the basic format for a proposal?

A basic business proposal includes all of the elements listed above. Different industries may include unique features (for example, an app developer may include interactive elements to illustrate how their product works), but these aspects are considered standard features to business proposals.

How do you write a business proposal?

Start by choosing a template and considering what makes your business different from the competition, and why you’re in the best position to assist potential clients with their needs. Be specific about what you can help your potential clients with, and make it easy for them to find out how to get in contact with you if they have questions.

Keep up with the latest from Shopify

Get free ecommerce tips, inspiration, and resources delivered directly to your inbox.

By entering your email, you agree to receive marketing emails from Shopify.

popular posts

The point of sale for every sale.

Subscribe to our blog and get free ecommerce tips, inspiration, and resources delivered directly to your inbox.

Unsubscribe anytime. By entering your email, you agree to receive marketing emails from Shopify.

Latest from Shopify

Jun 15, 2024

Jun 14, 2024

Learn on the go. Try Shopify for free, and explore all the tools you need to start, run, and grow your business.

Try Shopify for free, no credit card required.

How to Write a Business Proposal

Briana Morgaine

8 min. read

Updated March 18, 2024

A business proposal can make or break your chances of securing a new client. Write a great one, and you’ll likely snag their business.

Write a poor one, and you might lose out—even if you’re offering the best service out there. So, how do you write a business proposal? What is the proper format? What do you need to include?

While it all depends on your industry, and whether or not you’re offering a product or service, writing a business proposal is pretty straightforward. We’ll answer all those questions and more throughout the course of this guide. 

• What to expect with this business proposal guide

Whether you’re starting fresh or need to look at a specific section, here’s what we’ll be covering in this guide. 

• What a business proposal is
• The differences between a business proposal and a business plan
• The format of a business proposal
• How long to make your business proposal
• How to write a business proposal

You can download a  free business proposal template here  to start writing up your own proposal as you work through this article. By the end, you’ll be prepared to develop a well-written business proposal that can explain your business clearly and win more clients. Let’s get started.

• What is a business proposal?

A business proposal is a document you’d send to a prospective client, outlining the service you’re offering, and explaining why you’re the best person for the job. 

It’s a  pitch by a business or individual  to complete a specific job or project, to supply a service, or, in some instances, to be the vendor of a certain product.

What are the different types of business proposals?

A business proposal can be either solicited or unsolicited. With a solicited proposal, the prospective client will put out a request for proposals; with an unsolicited business proposal, you are approaching a client in hopes of attracting their business, even though they did not explicitly request a proposal.  

While both are commonplace, a solicited proposal is an easier sell, as your prospective client has already decided that they want to make a purchase or use a service, and they’re evaluating possible vendors or businesses.

With a solicited proposal, your prospective client might have issued an RFP, or “request for proposal.” This is exactly what it sounds like—they want you to send over a business proposal so they can take a look at it.

Brought to you by

Create a professional business plan

Using ai and step-by-step instructions.

Secure funding

Validate ideas

Build a strategy

• Differences between a business proposal and a business plan

A business proposal is not the same as a  business plan . This is the most common misconception, but while there are areas of overlap (like your  executive summary ) the two are different.

That being said, you can certainly pull information from your business plan while writing your business proposal—in fact, that’s a great way to start.

But don’t confuse the two; they are distinct and separate. In short, a business plan represents the cohesive strategy of how your business operates and makes money. A business proposal is an official pitch to clients selling your products or services. 

A business proposal outlines a particular product or service offered by an established business to a prospective client.

You’re trying to sell your prospective client on your product or service, not on your business itself. You’re not after funding, as you are with a business plan, you’re trying to make a sale.

A business proposal is also not an estimate; although you’ll likely touch on costs and pricing in your business proposal, an estimate is much more informal and just a quick look at the costs, not the whole picture.

• What goes into a business proposal?

Your business proposal should address the three Ps:

• Problem statement: What your customer’s current problem is
• Proposed solution: How your business solves that problem better than other solutions
• Pricing: How much that solution costs compared to alternatives

If you’re stuck on how to start, maybe try brainstorming first; start with these three points, and you’ll have a rough, bare-bones version of your business proposal.

Once you’ve done that if you’re ready to go more in-depth, here is a step-by-step look at how to format your business proposal.

Your business proposal should start with a title page, which should include your name, the name of your company, the name of the person to whom you’re submitting your proposal, and the date submitted.

Table of contents

Depending on how long your business proposal is, a table of contents is a nice touch. Include it after your title page, and before you launch into any details. If you’re delivering it as a PDF, including anchor links down to each section, so it’s easy to get to specific areas. 

Executive summary

Introduce your proposal with a great executive summary, one that really sells your business and the products or services you provide—it’s about why you’re the right company for the job. You can draw from your business plan’s executive summary here, too.

Statement of problem, issue, or job at hand

Following your executive summary, go on to discuss the problem that the client is currently facing. Think of “problem” or “issue” loosely; after all, their main problem may just be finding the right person to complete their project. But be sure you understand why they want the product or service they’re seeking. If the proposal is for developing a brand new website, make sure you understand what they want to get out of the site—better sales, more content management flexibility. 

This is the place to show your new client that you  understand their needs , and fully grasp the issue they are trying to solve. Take this opportunity to restate the issue they are facing in your own words so that they know you understand what they are looking for.

Approach and methodology

This section shows how you plan to tackle your potential client’s problem, and the steps you’ll take to carry out your plan.

This is where you’ll get into the nitty-gritty of how you actually plan to fulfill your client’s needs. While earlier sections might have been a bit surface-level, this section of the business proposal is where you’ll go into detail about what steps you’ll take to solve their problem.

Be careful of going into  too  much detail, though—keep the jargon to a minimum. Your client should be able to follow along and get a clear sense of your plan, but you don’t want to drown them in minutiae.

Qualifications

Go ahead, brag a little—this is the section of your business proposal where you get to convince your potential client why you are the most qualified person to take on the job.

You can mention any relevant education, industry-specific training, or certifications you have, your past successful projects of a similar nature, years of experience, and so on.

Schedule and benchmarks

Be clear with your potential client: How long will your proposed project take?

Making sure you and your prospective client are on the same page from the outset will help make sure that the relationship stays positive for both of you, and that you don’t set your client up with unrealistic expectations.

While you might be tempted to underestimate how long it will take you to complete the project, don’t. Don’t promise what you can’t deliver!

If you’re offering a product, this section might not be applicable to you, so feel free to omit it. The business proposal format is flexible, so tailor it to suit your business and industry.

Cost, payment, and any legal matters

Here is where you get down to brass tacks and state the cost, and payment schedule if necessary.

How you structure this section will largely depend on the particular project or service you are offering. A section entitled “Fee Summary” may be sufficient if one-time payment is required; otherwise, a “Fee Schedule” list or pricing table might be more appropriate. Always refer back to the client’s RFP whenever possible, to make sure you’re supplying them with all the information they need to help make their decision.

If there are any legal issues to attend to, such as permits or licensing, include this information here. Feel free to add a section entirely devoted to handling the legal side of the project if need be.

This is your final sell—don’t be afraid to detail for your prospective client all they have to gain by choosing you to complete the project.

Impress upon your clients why you are the best choice, and all the ways in which their business will benefit from choosing you and your business as their solution.

• How long should a business proposal be?

When it comes to the format of a business proposal, this is the million-dollar question without an answer. Remember in school, when you’d ask your teacher how long an essay should be, and they’d reply, “as long as it takes to answer the question.”

The same applies to your business proposal. It ultimately depends on your industry, the scope of the project, and the client’s specifications in terms of detail and elements included.

That being said, the tighter your initial proposal can be and the more directly you can make your point, the easier it will be to pitch it to clients. Start by following the business proposal format above as a guide, and you’ll be well on your way to creating a winning business proposal—and securing new clients.

Bri Morgaine is a seasoned content marketing leader with a decade of experience in copy editing, social media operations, and content strategy— having honed her skills at industry giants like Palo Alto Software and Andreessen Horowitz.

Table of Contents

Related Articles

6 Min. Read

Why Your Strategy Needs a Story

10 Min. Read

How to Set Business Management Standards for Your Small Business

4 Min. Read

Strategy Is Useless Without Execution

7 Steps to Successful Project Planning

The Bplans Newsletter

The Bplans Weekly

Subscribe now for weekly advice and free downloadable resources to help start and grow your business.

We care about your privacy. See our privacy policy .

The quickest way to turn a business idea into a business plan

Fill-in-the-blanks and automatic financials make it easy.

No thanks, I prefer writing 40-page documents.

Discover the world’s #1 plan building software

START YOUR ECOMMERCE BUSINESS FOR JUST $1

• Skip to primary navigation
• Skip to main content

A magazine for young entrepreneurs

The best advice in entrepreneurship

Subscribe for exclusive access, how to write a business plan (tips, templates, examples).

Written by Jesse Sumrak | May 14, 2023

Comments -->

Get real-time frameworks, tools, and inspiration to start and build your business. Subscribe here

Business plans might seem like an old-school stiff-collared practice, but they deserve a place in the startup realm, too. It’s probably not going to be the frame-worthy document you hang in the office—yet, it may one day be deserving of the privilege.

Whether you’re looking to win the heart of an angel investor or convince a bank to lend you money, you’ll need a business plan. And not just any ol’ notes and scribble on the back of a pizza box or napkin—you’ll need a professional, standardized report.

Bah. Sounds like homework, right?

Yes. Yes, it does.

However, just like bookkeeping, loan applications, and 404 redirects, business plans are an essential step in cementing your business foundation.

Don’t worry. We’ll show you how to write a business plan without boring you to tears. We’ve jam-packed this article with all the business plan examples, templates, and tips you need to take your non-existent proposal from concept to completion.

Table of Contents

What Is a Business Plan?

Tips to Make Your Small Business Plan Ironclad

How to Write a Business Plan in 6 Steps

Startup Business Plan Template

Business Plan Examples

Work on Making Your Business Plan

How to Write a Business Plan FAQs

What is a business plan why do you desperately need one.

A business plan is a roadmap that outlines:

• Who your business is, what it does, and who it serves
• Where your business is now
• Where you want it to go
• How you’re going to make it happen
• What might stop you from taking your business from Point A to Point B
• How you’ll overcome the predicted obstacles

While it’s not required when starting a business, having a business plan is helpful for a few reasons:

• Secure a Bank Loan: Before approving you for a business loan, banks will want to see that your business is legitimate and can repay the loan. They want to know how you’re going to use the loan and how you’ll make monthly payments on your debt. Lenders want to see a sound business strategy that doesn’t end in loan default.
• Win Over Investors: Like lenders, investors want to know they’re going to make a return on their investment. They need to see your business plan to have the confidence to hand you money.
• Stay Focused: It’s easy to get lost chasing the next big thing. Your business plan keeps you on track and focused on the big picture. Your business plan can prevent you from wasting time and resources on something that isn’t aligned with your business goals.

Beyond the reasoning, let’s look at what the data says:

• Simply writing a business plan can boost your average annual growth by 30%
• Entrepreneurs who create a formal business plan are 16% more likely to succeed than those who don’t
• A study looking at 65 fast-growth companies found that 71% had small business plans
• The process and output of creating a business plan have shown to improve business performance

Convinced yet? If those numbers and reasons don’t have you scrambling for pen and paper, who knows what will.

Don’t Skip: Business Startup Costs Checklist

Before we get into the nitty-gritty steps of how to write a business plan, let’s look at some high-level tips to get you started in the right direction:

Be Professional and Legit

You might be tempted to get cutesy or revolutionary with your business plan—resist the urge. While you should let your brand and creativity shine with everything you produce, business plans fall more into the realm of professional documents.

Think of your business plan the same way as your terms and conditions, employee contracts, or financial statements. You want your plan to be as uniform as possible so investors, lenders, partners, and prospective employees can find the information they need to make important decisions.

If you want to create a fun summary business plan for internal consumption, then, by all means, go right ahead. However, for the purpose of writing this external-facing document, keep it legit.

Know Your Audience

Your official business plan document is for lenders, investors, partners, and big-time prospective employees. Keep these names and faces in your mind as you draft your plan.

Think about what they might be interested in seeing, what questions they’ll ask, and what might convince (or scare) them. Cut the jargon and tailor your language so these individuals can understand.

Remember, these are busy people. They’re likely looking at hundreds of applicants and startup investments every month. Keep your business plan succinct and to the point. Include the most pertinent information and omit the sections that won’t impact their decision-making.

Invest Time Researching

You might not have answers to all the sections you should include in your business plan. Don’t skip over these!

Your audience will want:

• Detailed information about your customers
• Numbers and solid math to back up your financial claims and estimates
• Deep insights about your competitors and potential threats
• Data to support market opportunities and strategy

Your answers can’t be hypothetical or opinionated. You need research to back up your claims. If you don’t have that data yet, then invest time and money in collecting it. That information isn’t just critical for your business plan—it’s essential for owning, operating, and growing your company.

Stay Realistic

Your business may be ambitious, but reign in the enthusiasm just a teeny-tiny bit. The last thing you want to do is have an angel investor call BS and say “I’m out” before even giving you a chance.

The folks looking at your business and evaluating your plan have been around the block—they know a thing or two about fact and fiction. Your plan should be a blueprint for success. It should be the step-by-step roadmap for how you’re going from Point A to Point B.

How to Write a Business Plan—6 Essential Elements

Not every business plan looks the same, but most share a few common elements. Here’s what they typically include:

• Executive Summary
• Business Overview
• Products and Services
• Market Analysis
• Competitive Analysis
• Financial Strategy

Below, we’ll break down each of these sections in more detail.

1. Executive Summary

While your executive summary is the first page of your business plan, it’s the section you’ll write last. That’s because it summarizes your entire business plan into a succinct one-pager.

Begin with an executive summary that introduces the reader to your business and gives them an overview of what’s inside the business plan.

Your executive summary highlights key points of your plan. Consider this your elevator pitch. You want to put all your juiciest strengths and opportunities strategically in this section.

2. Business Overview

In this section, you can dive deeper into the elements of your business, including answering:

• What’s your business structure? Sole proprietorship, LLC, corporation, etc.
• Where is it located?
• Who owns the business? Does it have employees?
• What problem does it solve, and how?
• What’s your mission statement? Your mission statement briefly describes why you are in business. To write a proper mission statement, brainstorm your business’s core values and who you serve.

Don’t overlook your mission statement. This powerful sentence or paragraph could be the inspiration that drives an investor to take an interest in your business. Here are a few examples of powerful mission statements that just might give you the goosebumps:

• Patagonia: Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.
• Tesla: To accelerate the world’s transition to sustainable energy.
• InvisionApp : Question Assumptions. Think Deeply. Iterate as a Lifestyle. Details, Details. Design is Everywhere. Integrity.
• TED : Spread ideas.
• Warby Parker : To offer designer eyewear at a revolutionary price while leading the way for socially conscious businesses.

3. Products and Services

As the owner, you know your business and the industry inside and out. However, whoever’s reading your document might not. You’re going to need to break down your products and services in minute detail.

For example, if you own a SaaS business, you’re going to need to explain how this business model works and what you’re selling.

You’ll need to include:

• What services you sell: Describe the services you provide and how these will help your target audience.
• What products you sell: Describe your products (and types if applicable) and how they will solve a need for your target and provide value.
• How much you charge: If you’re selling services, will you charge hourly, per project, retainer, or a mixture of all of these? If you’re selling products, what are the price ranges?

4. Market Analysis

Your market analysis essentially explains how your products and services address customer concerns and pain points. This section will include research and data on the state and direction of your industry and target market.

This research should reveal lucrative opportunities and how your business is uniquely positioned to seize the advantage. You’ll also want to touch on your marketing strategy and how it will (or does) work for your audience.

Include a detailed analysis of your target customers. This describes the people you serve and sell your product to. Be careful not to go too broad here—you don’t want to fall into the common entrepreneurial trap of trying to sell to everyone and thereby not differentiating yourself enough to survive the competition.

The market analysis section will include your unique value proposition. Your unique value proposition (UVP) is the thing that makes you stand out from your competitors. This is your key to success.

If you don’t have a UVP, you don’t have a way to take on competitors who are already in this space. Here’s an example of an ecommerce internet business plan outlining their competitive edge:

FireStarters’ competitive advantage is offering product lines that make a statement but won’t leave you broke. The major brands are expensive and not distinctive enough to satisfy the changing taste of our target customers. FireStarters offers products that are just ahead of the curve and so affordable that our customers will return to the website often to check out what’s new.

5. Competitive Analysis

Your competitive analysis examines the strengths and weaknesses of competing businesses in your market or industry. This will include direct and indirect competitors. It can also include threats and opportunities, like economic concerns or legal restraints.

The best way to sum up this section is with a classic SWOT analysis. This will explain your company’s position in relation to your competitors.

6. Financial Strategy

Your financial strategy will sum up your revenue, expenses, profit (or loss), and financial plan for the future. It’ll explain how you make money, where your cash flow goes, and how you’ll become profitable or stay profitable.

This is one of the most important sections for lenders and investors. Have you ever watched Shark Tank? They always ask about the company’s financial situation. How has it performed in the past? What’s the ongoing outlook moving forward? How does the business plan to make it happen?

Answer all of these questions in your financial strategy so that your audience doesn’t have to ask. Go ahead and include forecasts and graphs in your plan, too:

• Balance sheet: This includes your assets, liabilities, and equity.
• Profit & Loss (P&L) statement: This details your income and expenses over a given period.
• Cash flow statement: Similar to the P&L, this one will show all cash flowing into and out of the business each month.

It takes cash to change the world—lenders and investors get it. If you’re short on funding, explain how much money you’ll need and how you’ll use the capital. Where are you looking for financing? Are you looking to take out a business loan, or would you rather trade equity for capital instead?

Read More: 16 Financial Concepts Every Entrepreneur Needs to Know

Startup Business Plan Template (Copy/Paste Outline)

Ready to write your own business plan? Copy/paste the startup business plan template below and fill in the blanks.

Executive Summary Remember, do this last. Summarize who you are and your business plan in one page.

Business Overview Describe your business. What’s it do? Who owns it? How’s it structured? What’s the mission statement?

Products and Services Detail the products and services you offer. How do they work? What do you charge?

Market Analysis Write about the state of the market and opportunities. Use date. Describe your customers. Include your UVP.

Competitive Analysis Outline the competitors in your market and industry. Include threats and opportunities. Add a SWOT analysis of your business.

Financial Strategy Sum up your revenue, expenses, profit (or loss), and financial plan for the future. If you’re applying for a loan, include how you’ll use the funding to progress the business.

5 Frame-Worthy Business Plan Examples

Want to explore other templates and examples? We got you covered. Check out these 5 business plan examples you can use as inspiration when writing your plan:

• SBA Wooden Grain Toy Company
• SBA We Can Do It Consulting
• OrcaSmart Business Plan Sample
• Plum Business Plan Template
• PandaDoc Free Business Plan Templates

Get to Work on Making Your Business Plan

If you find you’re getting stuck on perfecting your document, opt for a simple one-page business plan —and then get to work. You can always polish up your official plan later as you learn more about your business and the industry.

Remember, business plans are not a requirement for starting a business—they’re only truly essential if a bank or investor is asking for it.

Ask others to review your business plan. Get feedback from other startups and successful business owners. They’ll likely be able to see holes in your planning or undetected opportunities—just make sure these individuals aren’t your competitors (or potential competitors).

Your business plan isn’t a one-and-done report—it’s a living, breathing document. You’ll make changes to it as you grow and evolve. When the market or your customers change, your plan will need to change to adapt.

That means when you’re finished with this exercise, it’s not time to print your plan out and stuff it in a file cabinet somewhere. No, it should sit on your desk as a day-to-day reference. Use it (and update it) as you make decisions about your product, customers, and financial plan.

Review your business plan frequently, update it routinely, and follow the path you’ve developed to the future you’re building.

Keep Learning: New Product Development Process in 8 Easy Steps

What financial information should be included in a business plan?

Be as detailed as you can without assuming too much. For example, include your expected revenue, expenses, profit, and growth for the future.

What are some common mistakes to avoid when writing a business plan?

The most common mistake is turning your business plan into a textbook. A business plan is an internal guide and an external pitching tool. Cut the fat and only include the most relevant information to start and run your business.

Who should review my business plan before I submit it?

Co-founders, investors, or a board of advisors. Otherwise, reach out to a trusted mentor, your local chamber of commerce, or someone you know that runs a business.

Ready to Write Your Business Plan?

Don’t let creating a business plan hold you back from starting your business. Writing documents might not be your thing—that doesn’t mean your business is a bad idea.

Let us help you get started.

Join our free training to learn how to start an online side hustle in 30 days or less. We’ll provide you with a proven roadmap for how to find, validate, and pursue a profitable business idea (even if you have zero entrepreneurial experience).

Stuck on the ideas part? No problem. When you attend the masterclass, we’ll send you a free ebook with 100 of the hottest side hustle trends right now. It’s chock full of brilliant business ideas to get you up and running in the right direction.

About Jesse Sumrak

Jesse Sumrak is a writing zealot focused on creating killer content. He’s spent almost a decade writing about startup, marketing, and entrepreneurship topics, having built and sold his own post-apocalyptic fitness bootstrapped business. A writer by day and a peak bagger by night (and early early morning), you can usually find Jesse preparing for the apocalypse on a precipitous peak somewhere in the Rocky Mountains of Colorado.

Related Posts

The Complete Guide to Getting Clients for Your Consulting Business

What’s the Most Profitable Business to Start in 2024?

9 Best Businesses You Can Start with No Money

Is Selling On Amazon Worth it? Get Your Questions Answered

8 Businesses That Make Money Right Away (In 1-3 Months or Less)

How Much To Unapologetically Charge For Public Speaking

Write the Perfect Consulting Proposal: Tools, Examples, and a Template

How to Create an Online Course That Sells in 2024

I Used this Product Launch Checklist to Start 5 Ecom Brands

How to Get Sponsored: From 0 to $50,000 in 4 Weeks

How Shay Mitchell Is Disrupting a $17B Industry

MaryRuth Ghiyam: From $700K in Debt to $100M in Revenue

His Ecommerce Funnel Generated $70M Last Year

How Do You Launch a Product?

Why Erin Deering Sold Swimwear Sensation Triangl

FREE TRAINING FROM LEGIT FOUNDERS

Actionable Strategies for Starting & Growing Any Business.

Don't Miss Out! Get Instant Access to foundr+ for Just $1!

1000+ lessons. customized learning. 30,000+ strong community..

How to Write a Business Proposal [Steps, Tips, & Templates]

You need to send a business proposal, and you want it to close. But how can you improve your chances?

Every year, we analyze the proposals sent with our software to discover what makes closing more likely. We used this research to craft this very guide .

To help you write better business proposals, we’ve curated the essential proposal format, a step-by-step process, plenty of templates to help you get started, and strategies for following up.

From images to esignatures, keep reading for data-backed insights into the most successful proposals.

What’s in this guide:

What is a business proposal?

Basic proposal format, what to prepare before writing a business proposal, how to write a business proposal in 7 steps, 8 business proposal templates, 5 ideas to take your business proposal to the next level, what to do after you send a business proposal, using analytics for business proposal insights.

A business proposal is sent by a salesperson or account manager to a prospective client in order to pitch a product or service. A great proposal should include an executive summary or cover letter, details on the project timelines and deliverables, what makes the company the right choice for the job, and pricing and payment details.

Business proposals are typically sent from one business to another for all sorts of different services, such as enterprise software subscriptions, interior design, accounting, marketing, event catering, etc.

The purpose of a business proposal is to:

Sell your product or service with details, client results, testimonials, etc.

Clarify what is and isn’t included in the proposal to accurately manage expectations

Layout terms and conditions to protect both parties

Lock in the deal right away with esignatures built into the proposal

Large corporations and government agencies will typically send out a request for proposal to competing companies and then choose the best (or cheapest) one.

A business proposal is very different from a business plan, because it is typically written to clarify a paid engagement between two companies. This might be a short project or a long contract. A business plan, on the other hand, is typically an internal document crafted to chart a businesses path forward towards goals, such as market expansion, revenue growth, new product lines, etc.

Types of business proposals

There are many different types of business proposals. They are typically broken down by industry.

Here are some common types of business proposals, by industry :

Real estate and construction

Professional services

Proposals can also be categorized based on the type of offering :

One-off projects

Recurring subscription

Ongoing service

Package options

Later on in this guide, we include a variety of proposal templates. Depending on what you selling, you might find it easier to begin with a template designed for your industry or for the type of offer you’re selling (such as a one-off project). So be sure to peruse through the previews of each proposal so that you can see which template will save you the most time.

Business proposal example

An excellent business proposal addresses the client’s pain points and showcases the proposed solution.

Here’s an example business proposal to inspire you. The accounting proposal kicks things off with an attractive cover page.

All in all, it includes the cover page, an executive summary letter, an about us section, team photos and bios, a project summary, a breakdown of the proposed services, a pricing section, onboarding steps, and a contract with esignatures.

The services breakdown offers a great example of how to categorize your services and provide hourly estimates.

After researching over 1 million proposals, we found that winning proposals are most likely to include all of the following.

Here’s the idea proposal structure :

1. Cover page

The cover page, also called a title page, should be kept simple. It prominently features a photograph or graphic design that is on-brand, you can use graphic design templates as a starting point. It also usually includes the project name, or the client name, as well as your company name. Some companies might include contact information on the cover page, while others will save that for a separate page.

Check out this cover page , which is bright, bold, and on-brand.

2. Executive summary

The executive summary is essentially your pitch.

It’s your shot at capturing the client’s attention and showing them that you have an approach that will exceed their expectations.

It’s typically written in paragraph form (1 to 3 paragraphs) but can also include a bulleted list for a more skimmable style.

Make sure that your executive summary includes:

A quick description of the client’s problem or starting point

How your company will serve the client and why you’re suggesting this unique approach

Why your company is the best choice (average results, unique selling propositions, differentiators, awards, etc.)

This content marketing proposal offers an excellent example of an executive summary. Though in this proposal, the section is instead titled “Focus and Objectives.” What makes it great is that it’s on brand, goal-oriented, personable, and skimmable.

3. Approach or solution

In this section, you write about your process and why you approach things the way you do. For example, a Facebook marketing agency might say that they believe that creative work is essential to advertising success, and that’s why they devote 90% of their time to developing videos, images, and copy.

Some companies will craft a custom approach section for each client, while others will re-use the section again and again. It all comes down to the number of services you offer and how much or how little you customize your work.

In corporate training, it’s essential to clarify your approach so the client knows why your system will be effective. In this training template example , their process shows the essential steps in their proprietary approach.

4. About the company

This is your chance to brag. In your company bio, be sure to mention all of the important things that set your company apart. That might include your management style, the talent you have on your team, your average client retention rate or contract length, and any accolades.

With their location, awards, and team structure, this About Us page is an excellent example of how to sell yourself with authority.

5. Deliverables

Use the deliverables section to summarize exactly what the client will receive from the engagement.

A TikTok ads management firm might include 15 ad creatives per month in their deliverables, for example. While an accounting firm might list the reports that will be sent weekly or monthly, along with the bookkeeping service.

In a construction project, on the other hand, the company might showcase the different milestones that the project will hit, and when these milestones are expected to be completed.

In this proposal , the Deliverables section is titled “Scope of Services,” and it includes a list of all of the services that the prospective client will receive. Deliverables are mentioned within the scope, including a logo, brand colors, business cards, and brand guidelines.

6. Social proof or work samples

No matter what you sell, prospective clients will want to know that you have the right experience for the job.

Social proof can come in the form of written testimonials and case studies, video testimonials and case studies, portfolio photographs, G2 and Capterra badges, and rating averages from Google, Trustpilot, or other review sites.

For an architecture firm, construction company, or website designer, work examples can prove more powerful than testimonials. Prospects want to see what you can do. This architecture proposal showcases the company’s work on a rehabilitation project.

The pricing section is of course the one that your clients will read again and again and deliberate over. That’s why it’s so important to make it clear, simple, and well-formatted.

Tables are a great way to showcase what’s included in the total project cost or to provide package options.

Similar to interior design and construction services, event planning typically includes both hourly costs and hard costs (for products and venues). Here’s an example of an event management proposal that includes a breakdown of the hourly work and the hard costs.

8. Terms and conditions

When you use modern proposal software , you can build a contract right into your proposal, eliminating the need for separate contract software.

Your proposal should include legal jargon that can protect both you and your client. You might have a statement of work and a master service agreement or terms and conditions.

In this website design proposal , there are 6 pages in total for the contract section. The potential client can easily click around to view all of these pages and share the proposal with their legal team if needed.

For proposals that are longer than 8 pages, it’s wise to include a table of contents. If you use Proposify as your proposal software, then every proposal will automatically have the table of contents on the left-hand side, making it easier for the potential client to click around and review important sections multiple times.

A lot goes into writing a proposal. Before you can get to the writing part, you need to prepare.

This means talking with the client to figure out their needs, using your experience to pitch the best project, and talking with colleagues who will be involved in the project to see if they agree on the services you plan to propose.

You might also need to talk with your legal department and ask them for a contract template that you can include at the end of the proposal so that when the client signs off, it's legally binding.

Everything you need to prepare to write a business proposal:

An understanding of the client's needs

Your determination of the best approach

Details that will get the client to say yes

Agreement with internal colleagues

The pricing options you want to offer

Knowledge of who needs to sign off

Legal contract language or templates

To be a good writer , you must be concise, specific, and detailed. It really is that simple. The more examples and details you provide, the better.

That said, it does help to follow a process so that you can be sure you’re providing everything that the decision-makers expect and more.

Here are the 7 essential steps for writing a business proposal:

Step 1. Determine the client’s needs

The first step is to figure out what your client needs.

As mentioned in our section on preparation above, you’ll need to speak with your client. If this is a new client, it might take two to five sales calls to collect all of the information you need. For an existing client, you can probably figure out what to include in their renewal proposal with just one call.

But of course, asking your client what they need isn’t enough. You need to use your expertise to choose the best solution for them, even if it’s not what they want or expect.

Step 2. Kick off your proposal with a template

Once you’ve done your due diligence, the next step is to choose a proposal template so you’ll save time on both writing and designing.

You can use a template that matches your specific business or click around to find one with all the sections and a design style you like. Even if it’s not created for your specific industry, it’ll be easy to update the content to match your service or product.

Check out our full library of proposal templates.

Step 3. Write the evergreen messaging about your company

It’s always smart to tackle writing section by section. This way, you don’t get overwhelmed.

We recommend starting with the sections that are relevant to your business and that can be reused again and again. Your value propositions should guide the content.

Tackle these sections:

The cover page

The approach section

The about us page and team bios

The social proof or portfolio pieces

By starting off with what makes your company special, you’ll break the ice during your writing process and also create your own custom template that you can use for further proposal writing.

Step 4. Craft the meat of the proposal (executive summary, approach, deliverables, etc.)

By now, you should have chosen a template and written your core company messaging.

Now it’s time to write the meat of the proposal.

In this step, you’ll be catering your proposal to the new client. A startup will require a different proposal than a small business, and the same goes for an enterprise.

Here are some of the things you might need to write:

The unique methodology or approach you’ll offer this client (if it changes per client)

The problem statement or executive summary

The client’s goals

The scope of work

The project process and timelines

The deliverables

You can fill in your template’s sections and take a peek at other templates to get inspiration and see if there are any additional sections or details you should add.

Step 5. Add in the project total or pricing options

Next, you should calculate your fees.

Depending on your business, you might add up flat rates, product costs, or hourly estimates to come up with a fixed project total. Or, you might present a price range that the project will likely fall between (making it clear that additional hourly costs could arise. Or perhaps, you’ll offer a pricing table with different options to choose from.

Step 6. Add legal terms and conditions and esignatures

When you use proposal software (instead of just a PDF or Google slides), you can add a contract directly to your proposal.

If you already have approved contract language from your legal department, you can simply add it to the contract section of your proposal in Proposify. If not, you’ll need to chat with your legal team or business lawyer to ensure you’re adding all the right stipulations.

Proposals with esignatures close 35% faster and are 426% more likely to be accepted. So be sure to assign an esignature both to yourself and your client.

Step 7. Finalize the design and review all of the content before sending

Now it’s time to review and finalize your proposal. Check for errors, places in the template you forgot to fill out, and wording that can be improved.

Make sure the graphic design is on point too. Switch out the template with your own brand colors and fonts. You can have a designer on your team handle this, or handle style customization yourself (with no design experience necessary).

The best way to write a business proposal? With a template of course.

We’ve rounded up 10 of the best templates for different types of businesses. And for each, we show you the proposal sections included to help you pick the right one for you.

Keep in mind that with any of these proposals, you can add and remove sections and also customize any page with text, headlines, images, videos, fee tables, and more.

1. Business consulting proposal template

This consulting proposal template can be used by any type of consulting firm.

Proposal sections :

Project Summary

Project Activities

Your Investment

2. Advertising Proposal Template

With this advertising proposal template, you can showcase your digital or traditional advertising services. The template includes TV, web, radio, and magazine, but you can update it to reflect your pitch.

Cover Letter

Who Are We?

Testimonials

Your Advertising Media Mix

3. Branding Proposal Template

Perfect for branding consultants, logo designers, and messaging strategists, this branding proposal template includes the project scope and timeline to help you clarify your process to potential clients.

Overview & Goals

Scope of Services

Sample Case Study

4. Commercial Lease Proposal Template

This commercial lease proposal template can be used for leasing office buildings, manufacturing facilities, warehouses, and event spaces.

Our Process

Meet Our Team

Terms and Conditions

5. Construction Bid Template

Use this construction bid template for new construction projects or renovations. It includes a detailed cost estimate table and a required deposit.

Cost Estimate

6. Catering Proposal Template

This catering proposal template is perfect for corporate projects but can work for weddings or personal events as well. You can use it for conferences, luncheons, retreats, or any other type of event.

Introduction

Event Details

7. Corporate Photography Proposal Template

With a beautifully designed portfolio section and a very detailed pricing table and print options, this is the perfect template for corporate photography . It also includes tips for success, so clients know how to make the most of their photoshoot time.

What We Offer

Photography Packages

Tips for Success

8. Financial Services Proposal Template

You can use this financial services proposal template to pitch financial services like risk management, budgeting, and investment management.

Services and Fees

Looking to kick up your proposals a notch?

Try one of these smart ideas:

1. Make your pricing dynamic

Dynamic pricing means that clients can choose what they want and that will automatically change the project total that they sign off on.

Proposals with options and add-ons have a 35.8% higher closing rate . Try giving package options and including add-ons such as ancillary services or maintenance work.

2. Create graphic designs for timelines and processes

Winning business proposals often include informative visuals to help clients understand your process at a glance.

You could create a graphic for project phases, milestones, or big deliverables.

3. Get creative with your social proof

Client testimonials are an easy starting point when it comes to social proof.

But can you do better? Can you get more creative and stand out from other consulting firms?

Here are some ways to improve your social proof game:

Include visuals for your average ratings (for example 4 and a half stars filled in).

Add any badges or graphics available from review sites like G2 and Trustpilot.

Film professional case study videos and embed them in your proposal.

Create a screenshare video where you talk through your digital portfolio samples.

Include an informal video testimonial from your client.

Add a video showing your team at work (ie, on the job site, running a workshop, speaking, etc.)

Write mini case studies with before and after transformations, result data, etc.

4. Have an “excludes” section

Is there something that is definitely not included in your proposal? Do clients often assume it’s included or do they get confused?

If so, try adding a section that describes everything that isn’t included in the proposal. You could mention that you don’t offer these services, or state that they’re available at an additional fee (if you want to upsell them).

5. Include videos for introductions or complex concepts

When you add a video to your proposal, you increase its chances of closing by 41% .

Here are some video ideas to try:

Informal intros filmed with Loom

Professional videos of your team at work

Case study videos

Quick descriptions of complex deliverables, methodologies, etc.

You sent the proposal. Now what?

Here’s what to do next.

Sign it yourself

Make sure you sign the proposal right away (before your client opens it). This offers a more professional presentation and makes it more likely that your new client will add their signature too.

Be prepared to follow up

Project proposals don’t always close all by themselves. As any good salesperson knows, follow-up is essential.

With Proposify, you can set up automated reminders. When we analyzed over 1 million proposals sent with our software, we found that proposals with pre-scheduled reminders have a 35% higher closing rate than those without.

Make adjustments to the proposal to close the deal

It’s okay to make changes. In fact, proposals that get revised are actually more likely to close than ones that don’t. When a client asks for revisions, it means they’re interested.

You might need to adjust your proposal document for its scope, deliverables, timeframe, or payment schedules.

Save different proposal templates

After you’ve created one proposal, you should save it as a template and give it a name. You might also want to duplicate it and adjust it to create a new proposal template. For example, if you offer SEO services , you might want to have one proposal for an SEO audit and another one for your monthly SEO retainer.

Create email templates

You can also create and store email templates that will save you time in the long run.

Try creating different templates for sending, reminders, and thank yous. If you offer different types of services, you can craft a unique sending template for each one.

Get feedback from clients on both won and lost proposals

One of the best ways to improve is to take feedback. Whether you win or lose the proposal, find out why.

Here are some tips on how to do this:

Won - When you win a proposal, you might ask the client why they decided to move forward with you on their first strategy call. Or, have their account manager ask the same question and pass the info to you.

Lost - If a client doesn’t sign the proposal after 3 weeks, you can send a quick email with something like, “Just looking for some feedback. Can you let me know why you decided not to move forward? Thanks.”

In today’s digital world, a business proposal should be more than a formal document.

When you use the right tool to create and send your proposal, you should be able to gather important insights and trends.

Viewing metrics for a specific client

With Proposify, you can see the activity for every proposal. Know when clients are opening and viewing proposals so you can follow up in a way that matches their activity.

Average viewing metrics

Proposify also offers average viewing metrics that help you benchmark your views:

Total viewed

Average time to view

Average length of viewing

Average views per proposal

This is great for gauging how a new client compares with past activity.

Average closing metrics

You can also check your average closing rate and track it over time.

Check these closing metrics:

Closing rate

Try setting goals for improving your closing rate and then check your progress each month.

Insights by proposal type

Segment viewing and closing metrics by workspace, client name, or stream. A stream is a custom category that you can use for different service types, client industries, etc.

Growth trends

And lastly, you can check your growth trends to find out how much you’re earning in new contracts and existing contracts. This is great for seeing your past revenue growth and for forecasting.

Trends include:

New won proposals (chart)

Active income (chart)

Start with a solid understanding of your client’s goals and needs. Use a template to save time creating messaging and tables that will seal the deal. Then, try advanced techniques like dynamic pricing and videos to improve your closing rates even further.

Sign up for Proposify free for 14 days or get started with one of our templates .

How to Create a Business Proposal That Closes Deals

June 28, 2022

Winning Proposal Structure Tips (What The Research Says)

June 21, 2022

Home > Business > Business Startup

How To Write a Business Plan

We are committed to sharing unbiased reviews. Some of the links on our site are from our partners who compensate us. Read our editorial guidelines and advertising disclosure .

Starting a business is a wild ride, and a solid business plan can be the key to keeping you on track. A business plan is essentially a roadmap for your business — outlining your goals, strategies, market analysis and financial projections. Not only will it guide your decision-making, a business plan can help you secure funding with a loan or from investors .

Writing a business plan can seem like a huge task, but taking it one step at a time can break the plan down into manageable milestones. Here is our step-by-step guide on how to write a business plan.

Table of contents

• Write your executive summary
• Do your market research homework
• Set your business goals and objectives
• Plan your business strategy
• Describe your product or service
• Crunch the numbers
• Finalize your business plan

By signing up I agree to the Terms of Use and Privacy Policy .

Step 1: Write your executive summary

Though this will be the first page of your business plan , we recommend you actually write the executive summary last. That’s because an executive summary highlights what’s to come in the business plan but in a more condensed fashion.

An executive summary gives stakeholders who are reading your business plan the key points quickly without having to comb through pages and pages. Be sure to cover each successive point in a concise manner, and include as much data as necessary to support your claims.

You’ll cover other things too, but answer these basic questions in your executive summary:

• Idea: What’s your business concept? What problem does your business solve? What are your business goals?
• Product: What’s your product/service and how is it different?
• Market: Who’s your audience? How will you reach customers?
• Finance: How much will your idea cost? And if you’re seeking funding, how much money do you need? How much do you expect to earn? If you’ve already started, where is your revenue at now?

Step 2: Do your market research homework

The next step in writing a business plan is to conduct market research . This involves gathering information about your target market (or customer persona), your competition, and the industry as a whole. You can use a variety of research methods such as surveys, focus groups, and online research to gather this information. Your method may be formal or more casual, just make sure that you’re getting good data back.

This research will help you to understand the needs of your target market and the potential demand for your product or service—essential aspects of starting and growing a successful business.

Step 3: Set your business goals and objectives

Once you’ve completed your market research, you can begin to define your business goals and objectives. What is the problem you want to solve? What’s your vision for the future? Where do you want to be in a year from now?

Use this step to decide what you want to achieve with your business, both in the short and long term. Try to set SMART goals—specific, measurable, achievable, relevant, and time-bound benchmarks—that will help you to stay focused and motivated as you build your business.

Step 4: Plan your business strategy

Your business strategy is how you plan to reach your goals and objectives. This includes details on positioning your product or service, marketing and sales strategies, operational plans, and the organizational structure of your small business.

Make sure to include key roles and responsibilities for each team member if you’re in a business entity with multiple people.

Step 5: Describe your product or service

In this section, get into the nitty-gritty of your product or service. Go into depth regarding the features, benefits, target market, and any patents or proprietary tech you have. Make sure to paint a clear picture of what sets your product apart from the competition—and don’t forget to highlight any customer benefits.

Step 6: Crunch the numbers

Financial analysis is an essential part of your business plan. If you’re already in business that includes your profit and loss statement , cash flow statement and balance sheet .

These financial projections will give investors and lenders an understanding of the financial health of your business and the potential return on investment.

You may want to work with a financial professional to ensure your financial projections are realistic and accurate.

Step 7: Finalize your business plan

Once you’ve completed everything, it's time to finalize your business plan. This involves reviewing and editing your plan to ensure that it is clear, concise, and easy to understand.

You should also have someone else review your plan to get a fresh perspective and identify any areas that may need improvement. You could even work with a free SCORE mentor on your business plan or use a SCORE business plan template for more detailed guidance.

Compare the Top Small-Business Banks

Data effective 1/10/23. At publishing time, rates, fees, and requirements are current but are subject to change. Offers may not be available in all areas.

The takeaway

Writing a business plan is an essential process for any forward-thinking entrepreneur or business owner. A business plan requires a lot of up-front research, planning, and attention to detail, but it’s worthwhile. Creating a comprehensive business plan can help you achieve your business goals and secure the funding you need.

Related content

• 5 Best Business Plan Software and Tools in 2023 for Your Small Business
• How to Get a Business License: What You Need to Know
• What Is a Cash Flow Statement?

Best Small Business Loans

5202 W Douglas Corrigan Way Salt Lake City, UT 84116

Accounting & Payroll

Point of Sale

Payment Processing

Inventory Management

Human Resources

Other Services

Best Inventory Management Software

Best Small Business Accounting Software

Best Payroll Software

Best Mobile Credit Card Readers

Best POS Systems

Best Tax Software

Stay updated on the latest products and services anytime anywhere.

By signing up, you agree to our Terms of Use  and  Privacy Policy .

Disclaimer: The information featured in this article is based on our best estimates of pricing, package details, contract stipulations, and service available at the time of writing. All information is subject to change. Pricing will vary based on various factors, including, but not limited to, the customer’s location, package chosen, added features and equipment, the purchaser’s credit score, etc. For the most accurate information, please ask your customer service representative. Clarify all fees and contract details before signing a contract or finalizing your purchase.

Our mission is to help consumers make informed purchase decisions. While we strive to keep our reviews as unbiased as possible, we do receive affiliate compensation through some of our links. This can affect which services appear on our site and where we rank them. Our affiliate compensation allows us to maintain an ad-free website and provide a free service to our readers. For more information, please see our  Privacy Policy Page . |

© Business.org 2024 All Rights Reserved.

How to Write a Business Proposal (Examples & Templates)

A complete guide to writing business proposals that land deals. Easy-to-follow steps, actionable examples, and insider tips from sales pros.

John McTale

11 minute read

Not a fan of writing business proposals? Few people are. After all, it puts you in quite a vulnerable position. You need to convince prospects to pick you and make them understand why you’re the perfect fit for their needs.

This guide will show you a simple step-by-step process you can follow to ace every business proposal you create. Plus, for every section of your proposal, you’ll get sample content you can take as a point of reference and use to score more deals.

First, see a business proposal example created with Storydoc:

Interactive

Static, plain-text proposals are a relic of the past. With Storydoc, you’ll get engaging, interactive proposals looking better than anything you’ve ever created. Rise above your competitors and give your customers a proposal they will be proud to show their boss.

What is a business proposal ?

A business proposal is a formal document devised by a company and delivered to a prospect with the purpose of securing a contractual agreement between the two parties. A good business proposal shows to your potential clients why your offer is the most beneficial to them. Before we dig deeper, if you just need a quick checklist, here it is. To learn more about a specific section just click on a desired item in the interactive table of contents and we’ll take you right there.

Here's how to write a business proposal:

Now, let’s go through each step and see some examples.

1. Create a title page

Starting with the basics. The title page of your business proposal needs to feel professional and inviting. Most importantly, though, make it feel as personal as possible. Include:

• The name of your business
• The subject matter of your proposal
• Your prospect’s name and job title
• Your prospect’s company logo
• Submission date

Business proposal title page example:

Jane Atkins ABC Company Inbound Marketing Proposal for Acme Corp

Submitted to: John Random, VP Growth Submitted on: May 5, 2023

Using your client’s logo is virtually a must. But you kick your title page up a notch by applying other elements of their branding, too: think colors, master visuals, and overall vibe. They will notice and appreciate it. These unique business name ideas will make you stand out from the crowd - your business name matters.

2. Include an interactive table of contents

One of the keys to success in business communication is setting up expectations and then meeting them. A table of contents achieves just that: you tell your readers exactly what they’ll find in your proposal. If you’re sending your proposal electronically, make the ToC clickable, with jump-to links to appropriate chapters of your proposal. It will make navigating through the document so much easier (much like we did with this piece, you're welcome!).

Speaking of electronic versions… Do your best to prevent your prospects from printing out your proposal. A 2020 study found that once someone prints your proposal, your chances of landing the deal shrink by 84%!

Sample table of contents:

Executive Summary

Assessment and Project Overview

Methodology - SEO Audit - Internal Linking Optimization - Digital PR Assets - Digital PR Outreach

Qualifications and Testimonials

Terms and Conditions

Agreement and Rollout Process

3. Write a compelling executive summary

As the name implies, an executive summary is a section that, well, summarizes the whole document. In business proposals, your executive summary should contain the essence of your value proposition: explain why you’re submitting the proposal, what makes your product or services relevant to the client’s specific needs, and how you’re going to tackle their problems. The key thing to remember? Don’t mistake an executive summary for an introduction. The summary is basically a shortened version of your whole proposal. Its purpose is to provide a busy reader ( who could be your prospect ’s boss, the titular executive) with an overview of your offer, clear enough for them to not have to read the proposal in full. If you want to learn more about writing executive summaries, specifically, see our dedicated guide: Executive Summary—Examples and Definition

Sample executive summary for a business proposal:

EXECUTIVE SUMMARY This proposal outlines a detailed plan of action aimed at maximizing the profits of Acme Corp by boosting the inbound organic traffic to your e-commerce store. As your company displays a very high on-site conversion rate and the online traffic you generate is highly monetizable, the best strategy for maximizing your revenue is boosting your SEO performance. Acme Corp is lagging behind its key competitors in most of the search performance metrics: domain rating, backlink quality , and, as a result, organic traffic. Applying basic SEO maintenance will result in a dramatic increase of relevant monthly visitors to your site, contributing to a substantial increase in revenue. In the second phase of the project, our team will enhance your online presence and earn high-quality backlinks through a data-driven digital PR campaign, further improving your domain rating and the consequent search engine rankings for the highest-converting keywords and phrases.

While executive summaries come at the beginning of business proposals, write this section last. Create the rest of your proposal beforehand, then “skim the cream:” compile the key bits into the summary.

4. Identify the problem and propose a solution

Here’s where the big guns come in. If you’ve managed to get them interested enough to reach this part, you’re halfway there. It doesn’t mean it gets easier at this point. Quite the contrary— This section, usually called “Assessment,” or “Project Overview,” is the meat and potatoes of your proposal. You need to make sure it tastes like Black Angus fillet mignon with gratin dauphinoise. Here are a few tips for making it powerful and convincing to your prospects:

• Focus on the grander scheme of things here. Paint a big picture, plant an idea: it’s not the time to get to the nitty-gritty yet.
• B2B buyers can smell generic from miles away. Do your best to customize this part to the exact needs of your customer, never use a copy-pastable template.
• Make it about them. Instead of “selling” your product or services, focus on the tangible business result they’ll get out of this. ROI is the most direct, hard-hitting metric after all.
• Don’t overuse jargon or highly technical terms. You’re communicating with a human, not an algorithm.
• It’s okay to use your sales deck as a point of reference. It’s what got them interested in the first place, so do rely on the same main message.

Sample project overview in a business proposal:

ASSESSMENT AND PROJECT OVERVIEW Acme Corp is currently looking for ways to bring more inbound traffic to the company website. As an e-commerce business with competitively priced, high-quality performance clothing, any traffic you generate is highly monetizable. Your current traffic sources mostly constitute direct (15%), AdWords (40%), and display ads (18%). Organic traffic acquisition has been heavily underperforming for your site. At the same time, both your key competitors, DoeSports and GreenWay, bring in twice as much organic traffic as you do through paid sources (via Ahrefs, and SimilarWeb analysis). This shows that SEO efforts can be highly profitable in your industry. Your e-commerce store suffers from a few easy-to-fix SEO issues that we will address immediately:

• Poor-quality backlinks from spam sites, low SEO health score, and irrelevant anchor text in internal links.
• Fixing these issues alone will boost your SERP positions by 5–10 places for highest-volume keywords, amounting to 5,000–8,000 more unique visitors per month.
• Considering your extremely high average conversion rate of 3% and an average conversion value of $75, those efforts will increase monthly revenue by at least $11,250.

Furthermore, in comparison to your competitors, AcmeCorp has a poor domain rating: 49, compared to 66 of DoeSports and 70 of GreenWay, indicating fewer relevant backlinks and weaker referring domains. Our team will acquire relevant, high-quality backlinks from key industry publications through digital PR and outreach campaigns based on unique data-driven studies. This will result in:

• A significant boost in your domain rating, directly contributing to all major search engines rankings.
• A projected boost in traffic to your website of further 12,000 visitors per month.
• Enhanced brand visibility.

Even at the stage of the deal where you send the proposal, don’t assume your customer understands what they’re buying and why they need it. You still need to get your sales message across: let your prospects understand the value attached to your price tag.

5. Explain your methodology

If the executive summary of a business proposal is the why , and the project overview, the what , here’s the part where you describe how . If you’ve nailed the previous sections, your prospect knows that your solutions are relevant to their problems and has a bird’s eye view of expected outcomes. It’s time to explain your methods for achieving what you promise to deliver. List all the deliverables they can expect from the project or service, together with a timetable and a list of dependencies detailing the deadlines or frequency of delivering specific items or milestones. How granular you are in this part largely depends on the duration of collaboration you’re discussing, and many other project-specific details.

Example #1:

If you’re writing an event video proposal, you’ll want to explain what the client can expect:

• Before the event (consulting your needs and ideal outcomes, auditing the venue, setting up lighting, and so on),
• During the event (how many videographers on site, exact timetable, total shooting time),
• After the event (post-production, sound and music, additional editing, total length of video material delivered).

Example #2:

If, on the other hand, your proposal refers to long-term marketing consulting contract, the description of your methodology will be more general:

• Month 1: identifying and fixing technical SEO issues (anchor text, internal linking, backlink quality).
• Month 2: auditing the site content and optimizing existing URLs for search engine performance using an SEO rank tracker tool .
• Month 3: automating the funnel, running A/B tests on form pages.

And so on… Let’s have a look at what it might look like in practice.

Business proposal sample—methodology:

METHODOLOGY

• Disavowing links from low-reputation websites
• Fixing critical issues on existing URLs
• Improving site speed
• Fixing errors in robots.txt
• Optimizing meta titles and meta descriptions
• Fixing errors in HTML tags

Internal Linking Optimization

• Identifying internal linking opportunities
• Creating SEO-friendly anchor text combinations
• Removing links to 404 URLs

Digital PR Assets

• Running unique surveys via OnePoll
• Creating data-driven content relevant to the audiences of industry online publications
• Creating shareable infographics depicting the findings of the study

Digital PR Outreach

• Identifying key leads in relevant industry websites
• Email outreach to our database of relevant contacts
• Passive link building via Google AdWords

6. Back up your proposal with proof of qualifications

Your business proposal might be visionary so far. Still, if it’s not credible, it will get you nowhere. The client might love your ideas. They might be beyond excited to see them come to life. But— They don’t know you. And remember the old saying: “Trust everybody, but always cut the cards.” (Yes, it’s a euphemism for “Trust no one, ever.”) How do you make them trust you? Show them you’ve done it before and you succeeded. Again, and again. List verifiable, measurable achievements you or your company can boast about and pepper those with social proof. See a few examples:

• Customer case studies,
• Testimonials,
• Certifications,
• Industry awards,
• Years of experience,
• Media mentions.

The ideal composition of those will depend on the type of project and the industry: If you’re a photographer, your client won’t care too much about the awards you might have gotten or what The New Yorker wrote about your solo show. They’ll want to review your portfolio to see if that’s the vibe they're into and hear from your past clients to check if you’re not a pain to work with. If, in turn, you’re writing a marketing business proposal, your best bet will be to emphasize examples of your past campaigns together with detailed key metrics you boosted for your clients. Writing a proposal in an informal tone? You can add a short “About Us” section. Introduce team members who would be working on the project and explain what makes them the best professionals available on the market for solving the particular problem in question.

7. Outline your pricing options

This is where things get rather technical. On the face of it, the pricing section seems fairly obvious. They might be in love with your solutions, but they don’t yet know if they can afford you. Pricing is a tricky part on your end, though. You don’t want to scare off your lead with a sky-high estimate; at the same time, you don’t want to undersell yourself. The best option is to go for an interactive pricing page where every type of service or activity has a separate price tag to it and your clients can easily select a package that suits their needs and meets their budget—ideally, the total price should get automatically calculated. Alternately, you can use an estimate generator , which is an effective tool for automatically calculating cost forecasts based on various criteria and input data. This tool is both affordable and consumes little computing resources, so you can get it along with the best laptop for the money in the $300-$500 range. If you don’t have such an option at hand, create a very specific pricing table that clearly identifies each item or service, as well as the billing period. Here’s a practical example.

Sample pricing for a business proposal:

Remember, your goal is to make them comfortable with the pricing. Make them understand that your offer is not a cost but an investment worth every penny. A great way to achieve this is adding a live ROI calculator. It’s a perfect reminder of why they’re reading the proposal in the first place: to find a solution that will help them increase the revenue.

Below, you can see a sample ROI calculator created with our presentation maker tool :

Interactive ROI calculator example

8. Finish with terms and conditions + contractual agreement

Here’s a bad dream— The client loved your proposal, you’re midway through the project, and, all of a sudden, they’re refusing to make a second payment on your account. “We agreed on 30% upfront, and a full payment upon completion.” You know that’s not what you agreed on. Or do you? A proper business proposal comes with a detailed set of terms and conditions, together with contractual agreement at the bottom, helping both parties involved avoid any misunderstandings. In the terms and conditions, describe the timeline of the project, payment terms and schedule, cancellation policy (if applicable), and possible pre-agreement amendments to the proposal itself.

Sample terms and conditions for a business proposal:

TERMS AND CONDITIONS Timeline Start date: June 1, 2023 End date: July 31, 2023 Total payment due: $11,150 40% of the total payment is due upon signing. 100% of the total payment is due upon project completion. After the final payment, any elements of text, graphics, photos, or other creative work created by ABC Company for Acme Corp are owned by Acme Corp. ABC Company retains the right to showcase their creative work done for Acme Corp as examples in their portfolio. Prior to signing the contractual agreement, elements of this proposal might be amended in cooperation with Jane Atkins, ABC Company.

At the bottom of your document, include a legal agreement clause and a space for signatures. Make it easy for them to make a decision without additional documents. Adding a date and signature space in a business proposal will help you close the deal faster. For maximum convenience, you’ll want electronic signatures enabled.

Sample agreement clause for a business proposal:

If you agree to the terms of this inbound marketing proposal, please sign in the field below. Your signature indicates that you enter into a contractual agreement with ABC Company that commences on the date signed below. [ date ] [ signature ] John Random, Acme Corp

Found this post useful?

Subscribe to our monthly newsletter.

Get notified as more awesome content goes live.

(No spam, no ads, opt-out whenever)

You've just joined an elite group of people that make the top performing 1% of sales and marketing collateral.

And that’s a wrap…

I hope this step-by-step overview of business proposal writing has straightened out any queries or doubts you might have had. For the final word, here are a few extra tips to keep in mind before you hit “send.”

Business proposal tips:

• Start with an outline.
• Never reuse old proposals.
• Use hard numbers whenever possible.
• Don’t shy away from your brand.
• Make next steps obvious.
• Re-read, proofread and edit.

Thanks for reading. Keeping my fingers crossed for your proposal!

Hi, I'm John, Editor-in-chief at Storydoc. As a content marketer and digital writer specializing in B2B SaaS, my main goal is to provide you with up-to-date tips for effective business storytelling and equip you with all the right tools to enable your sales efforts.

Make your best proposal to date

Try Storydoc for free for 14 days (keep anything you make for ever!)

How to Write a Business Proposal: Step-by-Step Guide

You just finished an amazing meeting with a potential client, they seem ready to pull the trigger and excited to work with you. Then they utter the following sentence: “Please send me a proposal.” And now you have to remember how to write one. This guide will give you a system and guidelines on how to write a business proposal and make that process easy and repeatable.

Writing business proposals is arguably not that fun. In fact, most business owners would rather avoid the task. However, if you have an amazing business proposal template to start with you can speed the process up significantly. The key is to build everything right the first time round and give yourself a reusable template you can tweak and adjust until it’s perfect.

What we'll cover

• Proposal templates
• Visual presentation and design
• Introduction (Executive summary)
• Detailed specification
• Terms and conditions
• Optimizing your proposals for conversion

What is a business proposal?

An effective business proposal is a formal document created with the purpose of persuading your potential customers to work with you. It’s a document used in a variety of industries - from selling carpets to offering enterprise software solutions and social media marketing , all of it starts with a business proposal.

Two types of business proposals

Besides the difference in the industry, the main division is between solicited and unsolicited business proposals. A solicited business proposal is sent when you already have a connection with the potential customer and they’re interested in what you’re selling. 

Usually, the buyer themselves will ask for a proposal outlining your problem statement. Whether they’re a small business or government agencies, your proposal should follow the project details they’ve outlined.

On the other hand, unsolicited proposals are sent without the explicit request of someone who may be interested in what you’re selling. Whether you’re writing formally solicited proposals or unsolicited ones, you’ll need to know how to structure them. 

Although it’s easier to create a solicited proposal, don’t stress out about writing unsolicited ones. Our guide can help you in both situations.

How to write a business proposal the easy way

Have you ever freehanded a business proposal into the body of an email? Or started compiling it in a Word document from scratch? Or maybe you’re more into InDesign so you noticed a typo on your freshly exported PDF?

The fact of the matter is, creating a proposal for every client from scratch is both exhausting and a waste of time. Having a structured proposal writing system in place will save you countless hours. At the most basic level, your proposal writing system is two things:

• Having a great business proposal template written with everything in it
• Knowing what needs editing each time

The first thing, getting your business proposal template in order, is vital. The second is a matter of personalization to the specific job and client.

What is a business proposal template?

Put simply, a proposal template is a proposal that is about 90% finished. Think of it as a collection of all the best pieces of content you’ve ever put into previous proposals.

Your best introduction describing the problem statement, your best pricing strategy , best type of proof, best title page, etc. A winning template combines all the best elements of the proposals you’ve sent which resulted in sales for your product or service.

If you’re using proposal software like Better Proposals, compiling this shouldn’t be difficult, because you will know which proposals work for your target audience thanks to our analytics and reports.

But what if you’ve never sent proposals before so you don’t have a basis for templates? What if you don’t have the time or just don’t know a thing about proposals? No reason to worry – our proposal library has more than 130 different proposal templates that help sell a wide range of products or services .

Once you have your template in place, you’ll only need to fill out the major details, such as:

• The client's information
• Specifics about the offer
• Pricing, timelines, detailed specification
• A proof section with an example similar to the offer you’re sending, etc.

Once you add these, your business proposal is ready to go. The main idea is that templates help you write proposals in 15 minutes instead of 5 hours. To see what the template creation process looks like, check out how easy it is to design yours in Better Proposals .

The importance of a good business proposal template

The best thing about a good proposal template is that you only need to create it once. After that, it’s just a matter of tweaking the details. If you do it properly the first time around, sending out a proposal turns into a few minutes’ work. 

The best tip we have is to choose your best proposal and turn it into a template. Allocate a good day to getting it as good as it can be - turn all specific information into placeholders, get your formatting sorted, and make sure your pricing section is clean and clear.

This also means editing the copy like it’s a headline on your website. Consider the wording, your client, and the emotions you want to evoke - really make each section shine.

Despite their growing popularity, this is the time to resist the urge to use AI content writers . The content they produce is easy to spot and putting effort into creating a great business proposal template makes all the difference. 

Later in this article, we’ll look at what is included in a business proposal, and that goes for your template too. We’ll provide business proposal examples as well. Next time you have that meeting with your potential client and they ask you to send them a business proposal for your proposed solution, you’ll confidently walk away knowing exactly what to do.

How to write a business proposal that sells

Most people think that writing a business proposal is boring and time-consuming. And for the most part, they’re right. There really is no creative flair in writing them and it’s all about pitching your product or service so that the new client says yes and gives you money. 

But it doesn’t have to be this way. There is a way to make proposal writing easier and more efficient and get your prospective client on board more quickly.

In the following sections, we’ll show you that writing a business proposal is more about preparation and using the right tools to make writing easier. In other words, we’ll teach you how to write a business proposal with minimal effort and maximum sales performance.

Once you pick the right proposal software tools, you’ll see how easy it is to create a winning proposal.

What questions are your customers asking?

When writing a business proposal, there’s a situation going on that only the best salespeople understand. Your potential client has a list of questions. They’ll rarely tell you what those questions are, mostly because they’re pretty awkward. 

For example, we had a situation when I quoted someone £40,000 for some software once. The proposal was about 17 pages long, and the client replied with one sentence:

“Sounds good. What happens if you die? How do I get my data back?”

I didn’t think it was an appropriate time to go back to him and explain I probably wouldn’t care about his data if I was dead. However, I did explain to him a contingency plan that we had in place for nearly a decade now for this exact situation. I told him, and he signed up.

This got me thinking. While this guy was the first bold enough to ask that question, he can’t have been the first guy to think it. From that moment on, we included the contingency plan in every business proposal we sent under a section called 'How we protect your data'.

Awkward questions your potential customers have but won’t ask you:

• What happens if you die?
• What will I do if they screw up my search engine rankings?
• What happens if they take over my website and vanish?
• What happens if they redesign my website and I get fewer conversions than I got before?

A rare client will actually ask these questions to your face, but it doesn’t mean they won’t pop into their mind. Think about it. How many questions do people actually ask on the back of proposals? Answer these questions in your proposal before the client gets a chance to ask them.

How do you want your potential clients to feel?

Don’t think of business proposals as just sales documents - think of them as taking someone on an experience. Think movies. The emotions override the content. It’s less important how you get them to feel sadness at the end, so long as you do.

Writing a business proposal isn't that different. It's all about the emotion you want your potential client to feel at the end of reading it. For example:

• Excitement – Describing possibilities using uplifting pictures and success stories is good here. Don’t bore them with a document resembling a long business plan.
• Confidence – Include lots of proof and trust-building elements into this. Don’t make suggestions; be certain in your wording.
• Action taking – Lots of commanding words and talking about the next step. Don’t bog them down with a list of 42 things to decide on. Just get them to do the “next” thing.

You could find the best custom writing service out there and you’d still be the only one who can do this properly. That’s because, depending on your client and what you’re selling, only you know what’s most appropriate.

What you definitely don’t want to be doing is talking in “maybes”, “ifs”, and using suggestive wording when you want someone to trust you. It sounds like you’re not sure. As a good friend, Mitch Miller, says:

“The doctor doesn’t ask the patient if it’s the right prescription. He just prescribes the right thing and tells them to get out of the office.”

The 8 core elements of writing a business proposal

There are 8 elements most business proposals should include. Some are absolutely essential; some are not – that depends on your specific situation. Here they are:

Does your proposal need to have all of these sections? Maybe yes, maybe not – it depends. However, all of our proposal templates have these sections out of the box. But wait - there’s one thing we haven’t mentioned on purpose.

0. The cover page

All proposals should have a well-designed cover page with an image and text to address the specific client. We’re leaving it out because all of our business proposal templates come with beautiful, professionally designed cover pages already built in.

A beautifully designed cover page can help your business stand out because it gives your entire document a level of professionalism. What’s more, it brings the wow factor that pulls clients in right off the bat.

1. The introduction

Also known as the Executive summary. Good business proposals always start with a great introduction . This is the most read part of your proposal, so it needs to get across that you understand their situation and you’re clear on their goal. Your meetings and discovery sessions should be heavily predicated on getting the information for this section of the proposal.

The biggest reason you’re not winning new business is not getting a chance to do a meeting or initial call about the job. As a result, you never discovered what the client wants to achieve, what’s important to them, and what makes them tick. And because you don’t know that information, you lead with the things that don’t matter as much (e.g., the price or the technicalities of what you’re going to do). 

This is why a discovery call is one of the most important things to include when you learn how to write a business proposal. Without it, you’re essentially guessing what the client needs.

Every business proposal needs a good introduction

Your introduction should show the client that you’ve listened to their problem and that you have the cure, which you will show them in the next section. If you want to create an ongoing relationship, you need to show that you’ve researched your client’s company.

If you want to present your clients with a custom service, this is the place to stress that. Show them how you customize your usual offer to match their exact pain point.

According to our own research, this is the most-read section of all business proposals besides the pricing. Most clients read just these two sections, so make sure that you invest extra time and care in this one.

How to write a proposal introduction

This section is also known as a summary or an executive summary, depending on your resources. Even though the title is different, everything else is the same – it’s a section where you discuss how you’re going to solve the client’s problem and present your value proposition.

The most important tip we have here is to make it all about the client and the solution to their problem. In other words, refrain from going on and on about yourself. At the end of the day, a client reading a proposal wants to know what solution you offer. And if they’re interested in your company history or the process of forming an LLC , they’ll Google it.

Make sure to keep it short and to the point. You want to keep your entire proposal easy to read and as enjoyable of an experience for your potential client as possible. 

Since the executive summary is such an important part of any standard business proposal, don’t be afraid of asking your team members to read it and give you feedback. And if you need more practical writing tips, check out our in-depth proposal introduction writing guide .  

2. The detailed specification

This part varies depending on what you’re selling. If it’s a website, this could be a list of pages and features. If you’re writing a social media marketing proposal, then this could be the strategy or the talent and credentials of your team. It’ll vary.

The basic idea is to be as detailed as possible in your offer. That way, the prospective client understands exactly how your proposed solutions work.

The reason it’s important is that if the deal goes bad, you both have this section to refer back to. Your business proposal outlines accountability and what the client should hope for. Moreover, it also serves as a good exercise for you when writing a good business proposal, as this is all the information you’re going to gather in any discovery phase of the deal.

It’s important here to keep this in plain English. Stay far away from jargon, as it will only confuse the potential client. The less the reader understands, the less they trust you.

Also, if you absolutely must write about your company, this might be the place to do it. Who you are, what you do, how long you’ve been doing it, and what makes you stand out. However, don’t spend too much time or space on this because the focus is on the client, not you.

3. The timescales

It doesn’t matter if it’s a wide bracket, like 2-4 weeks – you have to give the client some clue about your project timeline . Otherwise, it’s a massive unknown.

It can be really useful to find out if the client has a special event or another reason for a project timeline to be important to them. If there is, tie that in. You can even tie that into scarcity to give them the incentive to sign the proposal off by a certain date. And if you’re writing unsolicited proposals, you need to be especially convincing and present your project timeline in a way that will make it hard to say no to. 

Be as specific as possible, but also use this section to your advantage. More time to deliver means two things:

• You can finish earlier than promised and impress your client
• You have more time to spare if something goes unexpectedly wrong

More time is always better, but make sure that you consider the need for urgency as well.

4. The proof

You must prove to your client that you can actually deliver your proposed solution. Now, you might say, “we have examples on our website”. That’s nice – but the client is not looking at your website, they’re reading your proposal – your one big “ask” for the business. They want solid proof and a few good case studies will do.

You need to have sufficient proof in a good business proposal. This could be examples, testimonials, video case studies, screenshots from a client proving you helped them with something, a recording of a voicemail – anything.

As you can see in our business proposal example, it doesn’t have to be complex and have the production value of a Spielberg classic. It just needs to get the point across.

To help them feel like they’ll be in good hands, you can also indicate relevant credentials and certifications your team managers and members have. After all, product managers and team leaders will play a massive role in ensuring that your product or service is of top quality.

The good news is, there is more than one type of proof that you can choose. Case studies, testimonials, portfolio pieces, explainer videos – there are lots of ways to convince your clients that you’re the real deal.

5. The price

Based on our data, this is the second most read section of any business proposal – people usually jump straight from the introduction to the pricing table. Needless to say, spend some extra time here to make it look right.

When using our business proposal templates, you can choose how to format your price based on project details. That said, there are a few things you want to make sure of. 

The first is that the pricing is super clear. If you have somewhat of a confusing pricing structure, then this might be time to think about simplifying it.

Speaking of which, we’ve done some research on pricing in business proposals and you can see our results in the latest Proposal Report . As it turns out, it’s a better idea to have a single offer and price instead of trying to get more money with upsells. Proposals with a single offer sold significantly more – 20.6% for offers with upfront costs and 33% higher for offers with monthly retainer costs.

The reason is that a business proposal is a matter of getting a simple answer – yes or no. The more options you add, the more difficult it gets for them to decide whether to sign or not. Keep your responsive pricing tables super simple.

The way you format your price can help avoid further negotiations. Our analysis of real-life pricing mistakes should give you a good idea of what to avoid.

How to name your pricing section

Finally, there is one more thing that you should know about the pricing section – don’t call it that. We’ve discovered that these names work better:

• Return on investment
• And others following this pattern

Basically, you want your clients to see your services as an investment in their business, rather than a simple cost and money down the drain. Small businesses or enterprise clients, no one wants to spend money - they want to invest it.

6. The guarantee

Some people love the idea of a guarantee. Others don’t like giving guarantees for fear of abuse. However, a guarantee is a great way to push new clients further towards conversion.

Instead of a typical money-back guarantee, consider guaranteeing a part of your service or a timescale. Cheryl Laidlaw’s “Website in a Day” service is a good example. 

She, at the time of writing, charges £1,995 for the day and delivers the website THAT NIGHT. The client doesn’t go home (and neither does Cheryl) until it’s done – which is an amazing offer .

7. The next steps

A lot of times, people seem to forget the very basics – to show the client what to do next. Sure, some people might read your business proposal and say, “Great, okay, let’s go ahead”. But why would you leave it up to them to figure it out?

It’s not their job to figure out how to buy from you, especially if you’re sending informally solicited proposals. Just make sure to tell them what the next steps are. Usually, this will be something like:

Step 1: Sign the proposal by typing your name in the box below and hitting ‘Accept’. This makes the proposal a legally binding contract.

Step 2: We’ll invoice you for 50%. Please pay for this immediately.

Step 3: We’ll arrange our initial consultation call with you.

Anyone can do these tasks on their own – they’re not all that complex. The problem is that if you leave all of this unsaid, you’re leaving your clients wondering. Explain all the details of what’s going to happen next.

8. The terms and conditions

You absolutely should be including your contract or terms and conditions. Just put it on a separate page called Terms & Conditions or Terms of Business .

There’s a great contract written for freelancers which covers 98% of the basics. If you’re not using a contract in your business right now, use this until your legal team demands something better.

You should always include your terms in your business proposals because when someone signs the proposal, they automatically sign the contract . It covers you and it covers the client, so it’s only natural to include it.

Just reading the words “terms and conditions” may make you feel dizzy because of the work ahead, but it’s actually something that you can do once and never fret about again later.

A business proposal that's optimized for conversion

So let's say you've followed all the steps in the "How To Write A Business Proposal Guide," and you now have the best structured proposal on the planet, and it still loses business. Why could this be? - perhaps it's a conversion problem. We’ve analyzed hundreds of thousands of proposals sent through our platform to see what makes them convert. Here are some data-backed tips to help you.

1. Send your proposals quickly

For over four years now, sending proposals out within 24 hours of meeting the client has been the best way to increase conversion rates. According to our data, proposals that are sent out within that time frame had a 23% higher conversion rate than those sent only a day later.

2. Include a cover page

While jumping straight into the introduction won’t hurt your conversions significantly, our data shows having a cover page makes a difference. Proposals with a cover page convert 4.6% better than the ones without it.

3. Don’t go overboard

The length of a business proposal will largely depend on what you do. That said, proposals that convert the best are short, concise, and to the point. Our data backs this up, showing that the optimal proposal length has been 6-7 sections for five years now.  

4. Make sure your proposals are mobile-friendly

The number of clients opening business proposals on desktop computers has been steadily decreasing over the years. As a matter of fact, as much as 46% of proposals are now opened on mobile devices. 

You won’t get a second chance to make a first impression, and you can’t control what device your client chooses to use. So what do you do? Choose a responsive design that looks great on all screen sizes.

5. Look professional

Pixelated logos, mismatched fonts, and typos are the best way to lose credibility right off the bat. Our data shows that branding goes a long way, with proposals sent from a custom domain converting 19.3% better than the ones sent from a third-party domain.

6. Integrate live chat

Great customer service is always crucial to increasing your conversion rate. Live chat not only helps you to respond to your client's questions in real time but also puts them at ease. That’s why proposals with integrated live chat convert 18.2% better than those without it.

7. Make the offer easy to accept

The harder you make it for the client to do business with you, the more business you’re losing. With business proposals, the answer is easy - use a web-based platform like Better Proposals. That way, you’re letting clients sign documents electronically and pay, all in one place.

Using traditional PDFs sent as email attachments makes your conversion rate 88% worse. It's not a surprise when you think about it - nobody likes going through the hassle of printing, signing, scanning, and sending the document back.

Using proposal software to write, send, and track your business proposals

The truth is, rarely anyone writes proposals these days – most people use proposal software. Here’s why it’s a good idea:

• Proposal software is web-based . You can send your clients links instead of PDF files.
• Proposals are optimized for different devices. They look and feel the same on a phone, laptop or tablet.

• You get to use proposal templates . (We have more than 130 of them.)
• You can track what the client does with the proposal. You get notifications when they read, forward and sign.

• Clients can instantly sign proposals electronically. This means your proposals are considered legally binding contracts. No need for third-party tools like DocuSign or DocuSign alternatives – good proposal software has that already built in.
• Clients can pay from the proposal. Paypal, Stripe, GoCardless, you name it.

• You can use a variety of integrations . MailChimp, Zapier, Salesforce, HubSpot , or whatever else you are using in your sales workflow.
• Detailed reporting . Find out what works and what doesn’t, no guessing.

• The ability to use live chat . You can chat with the client as they’re reading the proposal, increasing your conversions.
• You get to write your proposals in 15 minutes , not 5 hours. Pull the data from your CRM and populate it with automatic fields - it’s that simple.

These are just some of the many reasons why you should consider using proposal software rather than opening Word next time you want to write an effective business proposal.

The takeaways

Whether you’re a seasoned professional or just starting a new business , following our guide will help you dramatically increase the number of people who say yes to your proposals. In summary, here are the exact steps that you need to take to write an amazing business proposal:

• Start off with a proposal template
• Find out the questions that your clients are asking
• Think of how you want the clients to feel as they read the proposal
• Include the 8 elements of a winning business proposal, as listed above
• Use proposal software to automate the writing process

One of the biggest reasons people take forever to write business proposals and ultimately do a bad job is because they are using software that simply isn’t geared up to doing the job in an effective way. It might sound like a self-serving suggestion , but you should take a look at using Better Proposals for writing your next business proposal. 

The business proposal templates in our Marketplace alone will save you a ton of time with many business proposal examples to browse, and our proposal software has everything you need for writing proposals in one place.

How many signatures can you collect in 14 days?

Proposal Rejected: 10 Common Business Proposal Mistakes and How to Fix Them

Find data-backed reasons business proposals fail and find out how to avoid making the same proposal mistakes yourself.

Business Proposal Pricing Mistakes: How (Not) to Present Your Pricing Table

Check out these real-life proposal pricing table mistakes, why they're costing you business, and what to do instead.

• Sources of Business Finance
• Small Business Loans
• Small Business Grants
• Crowdfunding Sites
• How to Get a Business Loan
• Small Business Insurance Providers
• Best Factoring Companies
• Types of Bank Accounts
• Best Banks for Small Business
• Best Business Bank Accounts
• Open a Business Bank Account
• Bank Accounts for Small Businesses
• Free Business Checking Accounts
• Best Business Credit Cards
• Get a Business Credit Card
• Business Credit Cards for Bad Credit
• Build Business Credit Fast
• Business Loan Eligibility Criteria
• Small-Business Bookkeeping Basics
• How to Set Financial Goals
• Business Loan Calculators
• How to Calculate ROI
• Calculate Net Income
• Calculate Working Capital
• Calculate Operating Income
• Calculate Net Present Value (NPV)
• Calculate Payroll Tax

How to Write a Business Plan in 9 Steps (+ Template and Examples)

Every successful business has one thing in common, a good and well-executed business plan. A business plan is more than a document, it is a complete guide that outlines the goals your business wants to achieve, including its financial goals . It helps you analyze results, make strategic decisions, show your business operations and growth.

If you want to start a business or already have one and need to pitch it to investors for funding, writing a good business plan improves your chances of attracting financiers. As a startup, if you want to secure loans from financial institutions, part of the requirements involve submitting your business plan.

Writing a business plan does not have to be a complicated or time-consuming process. In this article, you will learn the step-by-step process for writing a successful business plan.

You will also learn what you need a business plan for, tips and strategies for writing a convincing business plan, business plan examples and templates that will save you tons of time, and the alternatives to the traditional business plan.

Let’s get started.

What Do You Need A Business Plan For?

Businesses create business plans for different purposes such as to secure funds, monitor business growth, measure your marketing strategies, and measure your business success.

1. Secure Funds

One of the primary reasons for writing a business plan is to secure funds, either from financial institutions/agencies or investors.

For you to effectively acquire funds, your business plan must contain the key elements of your business plan . For example, your business plan should include your growth plans, goals you want to achieve, and milestones you have recorded.

A business plan can also attract new business partners that are willing to contribute financially and intellectually. If you are writing a business plan to a bank, your project must show your traction , that is, the proof that you can pay back any loan borrowed.

Also, if you are writing to an investor, your plan must contain evidence that you can effectively utilize the funds you want them to invest in your business. Here, you are using your business plan to persuade a group or an individual that your business is a source of a good investment.

2. Monitor Business Growth

A business plan can help you track cash flows in your business. It steers your business to greater heights. A business plan capable of tracking business growth should contain:

• The business goals
• Methods to achieve the goals
• Time-frame for attaining those goals

A good business plan should guide you through every step in achieving your goals. It can also track the allocation of assets to every aspect of the business. You can tell when you are spending more than you should on a project.

You can compare a business plan to a written GPS. It helps you manage your business and hints at the right time to expand your business.

3. Measure Business Success

A business plan can help you measure your business success rate. Some small-scale businesses are thriving better than more prominent companies because of their track record of success.

Right from the onset of your business operation, set goals and work towards them. Write a plan to guide you through your procedures. Use your plan to measure how much you have achieved and how much is left to attain.

You can also weigh your success by monitoring the position of your brand relative to competitors. On the other hand, a business plan can also show you why you have not achieved a goal. It can tell if you have elapsed the time frame you set to attain a goal.

4. Document Your Marketing Strategies

You can use a business plan to document your marketing plans. Every business should have an effective marketing plan.

Competition mandates every business owner to go the extraordinary mile to remain relevant in the market. Your business plan should contain your marketing strategies that work. You can measure the success rate of your marketing plans.

In your business plan, your marketing strategy must answer the questions:

• How do you want to reach your target audience?
• How do you plan to retain your customers?
• What is/are your pricing plans?
• What is your budget for marketing?

How to Write a Business Plan Step-by-Step

1. create your executive summary.

The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans . Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.

Generally, there are nine sections in a business plan, the executive summary should condense essential ideas from the other eight sections.

A good executive summary should do the following:

• A Snapshot of Growth Potential. Briefly inform the reader about your company and why it will be successful)
• Contain your Mission Statement which explains what the main objective or focus of your business is.
• Product Description and Differentiation. Brief description of your products or services and why it is different from other solutions in the market.
• The Team. Basic information about your company’s leadership team and employees
• Business Concept. A solid description of what your business does.
• Target Market. The customers you plan to sell to.
• Marketing Strategy. Your plans on reaching and selling to your customers
• Current Financial State. Brief information about what revenue your business currently generates.
• Projected Financial State. Brief information about what you foresee your business revenue to be in the future.

The executive summary is the make-or-break section of your business plan. If your summary cannot in less than two pages cannot clearly describe how your business will solve a particular problem of your target audience and make a profit, your business plan is set on a faulty foundation.

Avoid using the executive summary to hype your business, instead, focus on helping the reader understand the what and how of your plan.

View the executive summary as an opportunity to introduce your vision for your company. You know your executive summary is powerful when it can answer these key questions:

• Who is your target audience?
• What sector or industry are you in?
• What are your products and services?
• What is the future of your industry?
• Is your company scaleable?
• Who are the owners and leaders of your company? What are their backgrounds and experience levels?
• What is the motivation for starting your company?
• What are the next steps?

Writing the executive summary last although it is the most important section of your business plan is an excellent idea. The reason why is because it is a high-level overview of your business plan. It is the section that determines whether potential investors and lenders will read further or not.

The executive summary can be a stand-alone document that covers everything in your business plan. It is not uncommon for investors to request only the executive summary when evaluating your business. If the information in the executive summary impresses them, they will ask for the complete business plan.

If you are writing your business plan for your planning purposes, you do not need to write the executive summary.

2. Add Your Company Overview

The company overview or description is the next section in your business plan after the executive summary. It describes what your business does.

Adding your company overview can be tricky especially when your business is still in the planning stages. Existing businesses can easily summarize their current operations but may encounter difficulties trying to explain what they plan to become.

Your company overview should contain the following:

• What products and services you will provide
• Geographical markets and locations your company have a presence
• What you need to run your business
• Who your target audience or customers are
• Who will service your customers
• Your company’s purpose, mission, and vision
• Information about your company’s founders
• Who the founders are
• Notable achievements of your company so far

When creating a company overview, you have to focus on three basics: identifying your industry, identifying your customer, and explaining the problem you solve.

If you are stuck when creating your company overview, try to answer some of these questions that pertain to you.

• Who are you targeting? (The answer is not everyone)
• What pain point does your product or service solve for your customers that they will be willing to spend money on resolving?
• How does your product or service overcome that pain point?
• Where is the location of your business?
• What products, equipment, and services do you need to run your business?
• How is your company’s product or service different from your competition in the eyes of your customers?
• How many employees do you need and what skills do you require them to have?

After answering some or all of these questions, you will get more than enough information you need to write your company overview or description section. When writing this section, describe what your company does for your customers.

The company description or overview section contains three elements: mission statement, history, and objectives.

• Mission Statement

The mission statement refers to the reason why your business or company is existing. It goes beyond what you do or sell, it is about the ‘why’. A good mission statement should be emotional and inspirational.

Your mission statement should follow the KISS rule (Keep It Simple, Stupid). For example, Shopify’s mission statement is “Make commerce better for everyone.”

When describing your company’s history, make it simple and avoid the temptation of tying it to a defensive narrative. Write it in the manner you would a profile. Your company’s history should include the following information:

• Founding Date
• Major Milestones
• Location(s)
• Flagship Products or Services
• Number of Employees
• Executive Leadership Roles

When you fill in this information, you use it to write one or two paragraphs about your company’s history.

Business Objectives

Your business objective must be SMART (specific, measurable, achievable, realistic, and time-bound.) Failure to clearly identify your business objectives does not inspire confidence and makes it hard for your team members to work towards a common purpose.

3. Perform Market and Competitive Analyses to Proof a Big Enough Business Opportunity

The third step in writing a business plan is the market and competitive analysis section. Every business, no matter the size, needs to perform comprehensive market and competitive analyses before it enters into a market.

Performing market and competitive analyses are critical for the success of your business. It helps you avoid entering the right market with the wrong product, or vice versa. Anyone reading your business plans, especially financiers and financial institutions will want to see proof that there is a big enough business opportunity you are targeting.

This section is where you describe the market and industry you want to operate in and show the big opportunities in the market that your business can leverage to make a profit. If you noticed any unique trends when doing your research, show them in this section.

Market analysis alone is not enough, you have to add competitive analysis to strengthen this section. There are already businesses in the industry or market, how do you plan to take a share of the market from them?

You have to clearly illustrate the competitive landscape in your business plan. Are there areas your competitors are doing well? Are there areas where they are not doing so well? Show it.

Make it clear in this section why you are moving into the industry and what weaknesses are present there that you plan to explain. How are your competitors going to react to your market entry? How do you plan to get customers? Do you plan on taking your competitors' competitors, tap into other sources for customers, or both?

Illustrate the competitive landscape as well. What are your competitors doing well and not so well?

Answering these questions and thoughts will aid your market and competitive analysis of the opportunities in your space. Depending on how sophisticated your industry is, or the expectations of your financiers, you may need to carry out a more comprehensive market and competitive analysis to prove that big business opportunity.

Instead of looking at the market and competitive analyses as one entity, separating them will make the research even more comprehensive.

Market Analysis

Market analysis, boarding speaking, refers to research a business carried out on its industry, market, and competitors. It helps businesses gain a good understanding of their target market and the outlook of their industry. Before starting a company, it is vital to carry out market research to find out if the market is viable.

The market analysis section is a key part of the business plan. It is the section where you identify who your best clients or customers are. You cannot omit this section, without it your business plan is incomplete.

A good market analysis will tell your readers how you fit into the existing market and what makes you stand out. This section requires in-depth research, it will probably be the most time-consuming part of the business plan to write.

• Market Research

To create a compelling market analysis that will win over investors and financial institutions, you have to carry out thorough market research . Your market research should be targeted at your primary target market for your products or services. Here is what you want to find out about your target market.

• Your target market’s needs or pain points
• The existing solutions for their pain points
• Geographic Location
• Demographics

The purpose of carrying out a marketing analysis is to get all the information you need to show that you have a solid and thorough understanding of your target audience.

Only after you have fully understood the people you plan to sell your products or services to, can you evaluate correctly if your target market will be interested in your products or services.

You can easily convince interested parties to invest in your business if you can show them you thoroughly understand the market and show them that there is a market for your products or services.

How to Quantify Your Target Market

One of the goals of your marketing research is to understand who your ideal customers are and their purchasing power. To quantify your target market, you have to determine the following:

• Your Potential Customers: They are the people you plan to target. For example, if you sell accounting software for small businesses , then anyone who runs an enterprise or large business is unlikely to be your customers. Also, individuals who do not have a business will most likely not be interested in your product.
• Total Households: If you are selling household products such as heating and air conditioning systems, determining the number of total households is more important than finding out the total population in the area you want to sell to. The logic is simple, people buy the product but it is the household that uses it.
• Median Income: You need to know the median income of your target market. If you target a market that cannot afford to buy your products and services, your business will not last long.
• Income by Demographics: If your potential customers belong to a certain age group or gender, determining income levels by demographics is necessary. For example, if you sell men's clothes, your target audience is men.

What Does a Good Market Analysis Entail?

Your business does not exist on its own, it can only flourish within an industry and alongside competitors. Market analysis takes into consideration your industry, target market, and competitors. Understanding these three entities will drastically improve your company’s chances of success.

You can view your market analysis as an examination of the market you want to break into and an education on the emerging trends and themes in that market. Good market analyses include the following:

• Industry Description. You find out about the history of your industry, the current and future market size, and who the largest players/companies are in your industry.
• Overview of Target Market. You research your target market and its characteristics. Who are you targeting? Note, it cannot be everyone, it has to be a specific group. You also have to find out all information possible about your customers that can help you understand how and why they make buying decisions.
• Size of Target Market: You need to know the size of your target market, how frequently they buy, and the expected quantity they buy so you do not risk overproducing and having lots of bad inventory. Researching the size of your target market will help you determine if it is big enough for sustained business or not.
• Growth Potential: Before picking a target market, you want to be sure there are lots of potential for future growth. You want to avoid going for an industry that is declining slowly or rapidly with almost zero growth potential.
• Market Share Potential: Does your business stand a good chance of taking a good share of the market?
• Market Pricing and Promotional Strategies: Your market analysis should give you an idea of the price point you can expect to charge for your products and services. Researching your target market will also give you ideas of pricing strategies you can implement to break into the market or to enjoy maximum profits.
• Potential Barriers to Entry: One of the biggest benefits of conducting market analysis is that it shows you every potential barrier to entry your business will likely encounter. It is a good idea to discuss potential barriers to entry such as changing technology. It informs readers of your business plan that you understand the market.
• Research on Competitors: You need to know the strengths and weaknesses of your competitors and how you can exploit them for the benefit of your business. Find patterns and trends among your competitors that make them successful, discover what works and what doesn’t, and see what you can do better.

The market analysis section is not just for talking about your target market, industry, and competitors. You also have to explain how your company can fill the hole you have identified in the market.

Here are some questions you can answer that can help you position your product or service in a positive light to your readers.

• Is your product or service of superior quality?
• What additional features do you offer that your competitors do not offer?
• Are you targeting a ‘new’ market?

Basically, your market analysis should include an analysis of what already exists in the market and an explanation of how your company fits into the market.

Competitive Analysis

In the competitive analysis section, y ou have to understand who your direct and indirect competitions are, and how successful they are in the marketplace. It is the section where you assess the strengths and weaknesses of your competitors, the advantage(s) they possess in the market and show the unique features or qualities that make you different from your competitors.

Many businesses do market analysis and competitive analysis together. However, to fully understand what the competitive analysis entails, it is essential to separate it from the market analysis.

Competitive analysis for your business can also include analysis on how to overcome barriers to entry in your target market.

The primary goal of conducting a competitive analysis is to distinguish your business from your competitors. A strong competitive analysis is essential if you want to convince potential funding sources to invest in your business. You have to show potential investors and lenders that your business has what it takes to compete in the marketplace successfully.

Competitive analysis will s how you what the strengths of your competition are and what they are doing to maintain that advantage.

When doing your competitive research, you first have to identify your competitor and then get all the information you can about them. The idea of spending time to identify your competitor and learn everything about them may seem daunting but it is well worth it.

Find answers to the following questions after you have identified who your competitors are.

• What are your successful competitors doing?
• Why is what they are doing working?
• Can your business do it better?
• What are the weaknesses of your successful competitors?
• What are they not doing well?
• Can your business turn its weaknesses into strengths?
• How good is your competitors’ customer service?
• Where do your competitors invest in advertising?
• What sales and pricing strategies are they using?
• What marketing strategies are they using?
• What kind of press coverage do they get?
• What are their customers saying about your competitors (both the positive and negative)?

If your competitors have a website, it is a good idea to visit their websites for more competitors’ research. Check their “About Us” page for more information.

If you are presenting your business plan to investors, you need to clearly distinguish yourself from your competitors. Investors can easily tell when you have not properly researched your competitors.

Take time to think about what unique qualities or features set you apart from your competitors. If you do not have any direct competition offering your product to the market, it does not mean you leave out the competitor analysis section blank. Instead research on other companies that are providing a similar product, or whose product is solving the problem your product solves.

The next step is to create a table listing the top competitors you want to include in your business plan. Ensure you list your business as the last and on the right. What you just created is known as the competitor analysis table.

Direct vs Indirect Competition

You cannot know if your product or service will be a fit for your target market if you have not understood your business and the competitive landscape.

There is no market you want to target where you will not encounter competition, even if your product is innovative. Including competitive analysis in your business plan is essential.

If you are entering an established market, you need to explain how you plan to differentiate your products from the available options in the market. Also, include a list of few companies that you view as your direct competitors The competition you face in an established market is your direct competition.

In situations where you are entering a market with no direct competition, it does not mean there is no competition there. Consider your indirect competition that offers substitutes for the products or services you offer.

For example, if you sell an innovative SaaS product, let us say a project management software , a company offering time management software is your indirect competition.

There is an easy way to find out who your indirect competitors are in the absence of no direct competitors. You simply have to research how your potential customers are solving the problems that your product or service seeks to solve. That is your direct competition.

Factors that Differentiate Your Business from the Competition

There are three main factors that any business can use to differentiate itself from its competition. They are cost leadership, product differentiation, and market segmentation.

1. Cost Leadership

A strategy you can impose to maximize your profits and gain an edge over your competitors. It involves offering lower prices than what the majority of your competitors are offering.

A common practice among businesses looking to enter into a market where there are dominant players is to use free trials or pricing to attract as many customers as possible to their offer.

2. Product Differentiation

Your product or service should have a unique selling proposition (USP) that your competitors do not have or do not stress in their marketing.

Part of the marketing strategy should involve making your products unique and different from your competitors. It does not have to be different from your competitors, it can be the addition to a feature or benefit that your competitors do not currently have.

3. Market Segmentation

As a new business seeking to break into an industry, you will gain more success from focusing on a specific niche or target market, and not the whole industry.

If your competitors are focused on a general need or target market, you can differentiate yourself from them by having a small and hyper-targeted audience. For example, if your competitors are selling men’s clothes in their online stores , you can sell hoodies for men.

4. Define Your Business and Management Structure

The next step in your business plan is your business and management structure. It is the section where you describe the legal structure of your business and the team running it.

Your business is only as good as the management team that runs it, while the management team can only strive when there is a proper business and management structure in place.

If your company is a sole proprietor or a limited liability company (LLC), a general or limited partnership, or a C or an S corporation, state it clearly in this section.

Use an organizational chart to show the management structure in your business. Clearly show who is in charge of what area in your company. It is where you show how each key manager or team leader’s unique experience can contribute immensely to the success of your company. You can also opt to add the resumes and CVs of the key players in your company.

The business and management structure section should show who the owner is, and other owners of the businesses (if the business has other owners). For businesses or companies with multiple owners, include the percent ownership of the various owners and clearly show the extent of each others’ involvement in the company.

Investors want to know who is behind the company and the team running it to determine if it has the right management to achieve its set goals.

Management Team

The management team section is where you show that you have the right team in place to successfully execute the business operations and ideas. Take time to create the management structure for your business. Think about all the important roles and responsibilities that you need managers for to grow your business.

Include brief bios of each key team member and ensure you highlight only the relevant information that is needed. If your team members have background industry experience or have held top positions for other companies and achieved success while filling that role, highlight it in this section.

A common mistake that many startups make is assigning C-level titles such as (CMO and CEO) to everyone on their team. It is unrealistic for a small business to have those titles. While it may look good on paper for the ego of your team members, it can prevent investors from investing in your business.

Instead of building an unrealistic management structure that does not fit your business reality, it is best to allow business titles to grow as the business grows. Starting everyone at the top leaves no room for future change or growth, which is bad for productivity.

Your management team does not have to be complete before you start writing your business plan. You can have a complete business plan even when there are managerial positions that are empty and need filling.

If you have management gaps in your team, simply show the gaps and indicate you are searching for the right candidates for the role(s). Investors do not expect you to have a full management team when you are just starting your business.

Key Questions to Answer When Structuring Your Management Team

• Who are the key leaders?
• What experiences, skills, and educational backgrounds do you expect your key leaders to have?
• Do your key leaders have industry experience?
• What positions will they fill and what duties will they perform in those positions?
• What level of authority do the key leaders have and what are their responsibilities?
• What is the salary for the various management positions that will attract the ideal candidates?

Additional Tips for Writing the Management Structure Section

1. Avoid Adding ‘Ghost’ Names to Your Management Team

There is always that temptation to include a ‘ghost’ name to your management team to attract and influence investors to invest in your business. Although the presence of these celebrity management team members may attract the attention of investors, it can cause your business to lose any credibility if you get found out.

Seasoned investors will investigate further the members of your management team before committing fully to your business If they find out that the celebrity name used does not play any actual role in your business, they will not invest and may write you off as dishonest.

2. Focus on Credentials But Pay Extra Attention to the Roles

Investors want to know the experience that your key team members have to determine if they can successfully reach the company’s growth and financial goals.

While it is an excellent boost for your key management team to have the right credentials, you also want to pay extra attention to the roles they will play in your company.

Organizational Chart

Adding an organizational chart in this section of your business plan is not necessary, you can do it in your business plan’s appendix.

If you are exploring funding options, it is not uncommon to get asked for your organizational chart. The function of an organizational chart goes beyond raising money, you can also use it as a useful planning tool for your business.

An organizational chart can help you identify how best to structure your management team for maximum productivity and point you towards key roles you need to fill in the future.

You can use the organizational chart to show your company’s internal management structure such as the roles and responsibilities of your management team, and relationships that exist between them.

5. Describe Your Product and Service Offering

In your business plan, you have to describe what you sell or the service you plan to offer. It is the next step after defining your business and management structure. The products and services section is where you sell the benefits of your business.

Here you have to explain how your product or service will benefit your customers and describe your product lifecycle. It is also the section where you write down your plans for intellectual property like patent filings and copyrighting.

The research and development that you are undertaking for your product or service need to be explained in detail in this section. However, do not get too technical, sell the general idea and its benefits.

If you have any diagrams or intricate designs of your product or service, do not include them in the products and services section. Instead, leave them for the addendum page. Also, if you are leaving out diagrams or designs for the addendum, ensure you add this phrase “For more detail, visit the addendum Page #.”

Your product and service section in your business plan should include the following:

• A detailed explanation that clearly shows how your product or service works.
• The pricing model for your product or service.
• Your business’ sales and distribution strategy.
• The ideal customers that want your product or service.
• The benefits of your products and services.
• Reason(s) why your product or service is a better alternative to what your competitors are currently offering in the market.
• Plans for filling the orders you receive
• If you have current or pending patents, copyrights, and trademarks for your product or service, you can also discuss them in this section.

What to Focus On When Describing the Benefits, Lifecycle, and Production Process of Your Products or Services

In the products and services section, you have to distill the benefits, lifecycle, and production process of your products and services.

When describing the benefits of your products or services, here are some key factors to focus on.

• Unique features
• Translating the unique features into benefits
• The emotional, psychological, and practical payoffs to attract customers
• Intellectual property rights or any patents

When describing the product life cycle of your products or services, here are some key factors to focus on.

• Upsells, cross-sells, and down-sells
• Time between purchases
• Plans for research and development.

When describing the production process for your products or services, you need to think about the following:

• The creation of new or existing products and services.
• The sources for the raw materials or components you need for production.
• Assembling the products
• Maintaining quality control
• Supply-chain logistics (receiving the raw materials and delivering the finished products)
• The day-to-day management of the production processes, bookkeeping, and inventory.

Tips for Writing the Products or Services Section of Your Business Plan

1. Avoid Technical Descriptions and Industry Buzzwords

The products and services section of your business plan should clearly describe the products and services that your company provides. However, it is not a section to include technical jargons that anyone outside your industry will not understand.

A good practice is to remove highly detailed or technical descriptions in favor of simple terms. Industry buzzwords are not necessary, if there are simpler terms you can use, then use them. If you plan to use your business plan to source funds, making the product or service section so technical will do you no favors.

2. Describe How Your Products or Services Differ from Your Competitors

When potential investors look at your business plan, they want to know how the products and services you are offering differ from that of your competition. Differentiating your products or services from your competition in a way that makes your solution more attractive is critical.

If you are going the innovative path and there is no market currently for your product or service, you need to describe in this section why the market needs your product or service.

For example, overnight delivery was a niche business that only a few companies were participating in. Federal Express (FedEx) had to show in its business plan that there was a large opportunity for that service and they justified why the market needed that service.

3. Long or Short Products or Services Section

Should your products or services section be short? Does the long products or services section attract more investors?

There are no straightforward answers to these questions. Whether your products or services section should be long or relatively short depends on the nature of your business.

If your business is product-focused, then automatically you need to use more space to describe the details of your products. However, if the product your business sells is a commodity item that relies on competitive pricing or other pricing strategies, you do not have to use up so much space to provide significant details about the product.

Likewise, if you are selling a commodity that is available in numerous outlets, then you do not have to spend time on writing a long products or services section.

The key to the success of your business is most likely the effectiveness of your marketing strategies compared to your competitors. Use more space to address that section.

If you are creating a new product or service that the market does not know about, your products or services section can be lengthy. The reason why is because you need to explain everything about the product or service such as the nature of the product, its use case, and values.

A short products or services section for an innovative product or service will not give the readers enough information to properly evaluate your business.

4. Describe Your Relationships with Vendors or Suppliers

Your business will rely on vendors or suppliers to supply raw materials or the components needed to make your products. In your products and services section, describe your relationships with your vendors and suppliers fully.

Avoid the mistake of relying on only one supplier or vendor. If that supplier or vendor fails to supply or goes out of business, you can easily face supply problems and struggle to meet your demands. Plan to set up multiple vendor or supplier relationships for better business stability.

5. Your Primary Goal Is to Convince Your Readers

The primary goal of your business plan is to convince your readers that your business is viable and to create a guide for your business to follow. It applies to the products and services section.

When drafting this section, think like the reader. See your reader as someone who has no idea about your products and services. You are using the products and services section to provide the needed information to help your reader understand your products and services. As a result, you have to be clear and to the point.

While you want to educate your readers about your products or services, you also do not want to bore them with lots of technical details. Show your products and services and not your fancy choice of words.

Your products and services section should provide the answer to the “what” question for your business. You and your management team may run the business, but it is your products and services that are the lifeblood of the business.

Key Questions to Answer When Writing your Products and Services Section

Answering these questions can help you write your products and services section quickly and in a way that will appeal to your readers.

• Are your products existing on the market or are they still in the development stage?
• What is your timeline for adding new products and services to the market?
• What are the positives that make your products and services different from your competitors?
• Do your products and services have any competitive advantage that your competitors’ products and services do not currently have?
• Do your products or services have any competitive disadvantages that you need to overcome to compete with your competitors? If your answer is yes, state how you plan to overcome them,
• How much does it cost to produce your products or services? How much do you plan to sell it for?
• What is the price for your products and services compared to your competitors? Is pricing an issue?
• What are your operating costs and will it be low enough for you to compete with your competitors and still take home a reasonable profit margin?
• What is your plan for acquiring your products? Are you involved in the production of your products or services?
• Are you the manufacturer and produce all the components you need to create your products? Do you assemble your products by using components supplied by other manufacturers? Do you purchase your products directly from suppliers or wholesalers?
• Do you have a steady supply of products that you need to start your business? (If your business is yet to kick-off)
• How do you plan to distribute your products or services to the market?

You can also hint at the marketing or promotion plans you have for your products or services such as how you plan to build awareness or retain customers. The next section is where you can go fully into details about your business’s marketing and sales plan.

6. Show and Explain Your Marketing and Sales Plan

Providing great products and services is wonderful, but it means nothing if you do not have a marketing and sales plan to inform your customers about them. Your marketing and sales plan is critical to the success of your business.

The sales and marketing section is where you show and offer a detailed explanation of your marketing and sales plan and how you plan to execute it. It covers your pricing plan, proposed advertising and promotion activities, activities and partnerships you need to make your business a success, and the benefits of your products and services.

There are several ways you can approach your marketing and sales strategy. Ideally, your marketing and sales strategy has to fit the unique needs of your business.

In this section, you describe how the plans your business has for attracting and retaining customers, and the exact process for making a sale happen. It is essential to thoroughly describe your complete marketing and sales plans because you are still going to reference this section when you are making financial projections for your business.

Outline Your Business’ Unique Selling Proposition (USP)

The sales and marketing section is where you outline your business’s unique selling proposition (USP). When you are developing your unique selling proposition, think about the strongest reasons why people should buy from you over your competition. That reason(s) is most likely a good fit to serve as your unique selling proposition (USP).

Target Market and Target Audience

Plans on how to get your products or services to your target market and how to get your target audience to buy them go into this section. You also highlight the strengths of your business here, particularly what sets them apart from your competition.

Before you start writing your marketing and sales plan, you need to have properly defined your target audience and fleshed out your buyer persona. If you do not first understand the individual you are marketing to, your marketing and sales plan will lack any substance and easily fall.

Creating a Smart Marketing and Sales Plan

Marketing your products and services is an investment that requires you to spend money. Like any other investment, you have to generate a good return on investment (ROI) to justify using that marketing and sales plan. Good marketing and sales plans bring in high sales and profits to your company.

Avoid spending money on unproductive marketing channels. Do your research and find out the best marketing and sales plan that works best for your company.

Your marketing and sales plan can be broken into different parts: your positioning statement, pricing, promotion, packaging, advertising, public relations, content marketing, social media, and strategic alliances.

Your Positioning Statement

Your positioning statement is the first part of your marketing and sales plan. It refers to the way you present your company to your customers.

Are you the premium solution, the low-price solution, or are you the intermediary between the two extremes in the market? What do you offer that your competitors do not that can give you leverage in the market?

Before you start writing your positioning statement, you need to spend some time evaluating the current market conditions. Here are some questions that can help you to evaluate the market

• What are the unique features or benefits that you offer that your competitors lack?
• What are your customers’ primary needs and wants?
• Why should a customer choose you over your competition? How do you plan to differentiate yourself from the competition?
• How does your company’s solution compare with other solutions in the market?

After answering these questions, then you can start writing your positioning statement. Your positioning statement does not have to be in-depth or too long.

All you need to explain with your positioning statement are two focus areas. The first is the position of your company within the competitive landscape. The other focus area is the core value proposition that sets your company apart from other alternatives that your ideal customer might consider.

Here is a simple template you can use to develop a positioning statement.

For [description of target market] who [need of target market], [product or service] [how it meets the need]. Unlike [top competition], it [most essential distinguishing feature].

For example, let’s create the positioning statement for fictional accounting software and QuickBooks alternative , TBooks.

“For small business owners who need accounting services, TBooks is an accounting software that helps small businesses handle their small business bookkeeping basics quickly and easily. Unlike Wave, TBooks gives small businesses access to live sessions with top accountants.”

You can edit this positioning statement sample and fill it with your business details.

After writing your positioning statement, the next step is the pricing of your offerings. The overall positioning strategy you set in your positioning statement will often determine how you price your products or services.

Pricing is a powerful tool that sends a strong message to your customers. Failure to get your pricing strategy right can make or mar your business. If you are targeting a low-income audience, setting a premium price can result in low sales.

You can use pricing to communicate your positioning to your customers. For example, if you are offering a product at a premium price, you are sending a message to your customers that the product belongs to the premium category.

Basic Rules to Follow When Pricing Your Offering

Setting a price for your offering involves more than just putting a price tag on it. Deciding on the right pricing for your offering requires following some basic rules. They include covering your costs, primary and secondary profit center pricing, and matching the market rate.

• Covering Your Costs: The price you set for your products or service should be more than it costs you to produce and deliver them. Every business has the same goal, to make a profit. Depending on the strategy you want to use, there are exceptions to this rule. However, the vast majority of businesses follow this rule.
• Primary and Secondary Profit Center Pricing: When a company sets its price above the cost of production, it is making that product its primary profit center. A company can also decide not to make its initial price its primary profit center by selling below or at even with its production cost. It rather depends on the support product or even maintenance that is associated with the initial purchase to make its profit. The initial price thus became its secondary profit center.
• Matching the Market Rate: A good rule to follow when pricing your products or services is to match your pricing with consumer demand and expectations. If you price your products or services beyond the price your customer perceives as the ideal price range, you may end up with no customers. Pricing your products too low below what your customer perceives as the ideal price range may lead to them undervaluing your offering.

Pricing Strategy

Your pricing strategy influences the price of your offering. There are several pricing strategies available for you to choose from when examining the right pricing strategy for your business. They include cost-plus pricing, market-based pricing, value pricing, and more.

• Cost-plus Pricing: This strategy is one of the simplest and oldest pricing strategies. Here you consider the cost of producing a unit of your product and then add a profit to it to arrive at your market price. It is an effective pricing strategy for manufacturers because it helps them cover their initial costs. Another name for the cost-plus pricing strategy is the markup pricing strategy.
• Market-based Pricing: This pricing strategy analyses the market including competitors’ pricing and then sets a price based on what the market is expecting. With this pricing strategy, you can either set your price at the low-end or high-end of the market.
• Value Pricing: This pricing strategy involves setting a price based on the value you are providing to your customer. When adopting a value-based pricing strategy, you have to set a price that your customers are willing to pay. Service-based businesses such as small business insurance providers , luxury goods sellers, and the fashion industry use this pricing strategy.

After carefully sorting out your positioning statement and pricing, the next item to look at is your promotional strategy. Your promotional strategy explains how you plan on communicating with your customers and prospects.

As a business, you must measure all your costs, including the cost of your promotions. You also want to measure how much sales your promotions bring for your business to determine its usefulness. Promotional strategies or programs that do not lead to profit need to be removed.

There are different types of promotional strategies you can adopt for your business, they include advertising, public relations, and content marketing.

Advertising

Your business plan should include your advertising plan which can be found in the marketing and sales plan section. You need to include an overview of your advertising plans such as the areas you plan to spend money on to advertise your business and offers.

Ensure that you make it clear in this section if your business will be advertising online or using the more traditional offline media, or the combination of both online and offline media. You can also include the advertising medium you want to use to raise awareness about your business and offers.

Some common online advertising mediums you can use include social media ads, landing pages, sales pages, SEO, Pay-Per-Click, emails, Google Ads, and others. Some common traditional and offline advertising mediums include word of mouth, radios, direct mail, televisions, flyers, billboards, posters, and others.

A key component of your advertising strategy is how you plan to measure the effectiveness and success of your advertising campaign. There is no point in sticking with an advertising plan or medium that does not produce results for your business in the long run.

Public Relations

A great way to reach your customers is to get the media to cover your business or product. Publicity, especially good ones, should be a part of your marketing and sales plan. In this section, show your plans for getting prominent reviews of your product from reputable publications and sources.

Your business needs that exposure to grow. If public relations is a crucial part of your promotional strategy, provide details about your public relations plan here.

Content Marketing

Content marketing is a popular promotional strategy used by businesses to inform and attract their customers. It is about teaching and educating your prospects on various topics of interest in your niche, it does not just involve informing them about the benefits and features of the products and services you have,

Businesses publish content usually for free where they provide useful information, tips, and advice so that their target market can be made aware of the importance of their products and services. Content marketing strategies seek to nurture prospects into buyers over time by simply providing value.

Your company can create a blog where it will be publishing content for its target market. You will need to use the best website builder such as Wix and Squarespace and the best web hosting services such as Bluehost, Hostinger, and other Bluehost alternatives to create a functional blog or website.

If content marketing is a crucial part of your promotional strategy (as it should be), detail your plans under promotions.

Including high-quality images of the packaging of your product in your business plan is a lovely idea. You can add the images of the packaging of that product in the marketing and sales plan section. If you are not selling a product, then you do not need to include any worry about the physical packaging of your product.

When organizing the packaging section of your business plan, you can answer the following questions to make maximum use of this section.

• Is your choice of packaging consistent with your positioning strategy?
• What key value proposition does your packaging communicate? (It should reflect the key value proposition of your business)
• How does your packaging compare to that of your competitors?

Social Media

Your 21st-century business needs to have a good social media presence. Not having one is leaving out opportunities for growth and reaching out to your prospect.

You do not have to join the thousands of social media platforms out there. What you need to do is join the ones that your customers are active on and be active there.

Businesses use social media to provide information about their products such as promotions, discounts, the benefits of their products, and content on their blogs.

Social media is also a platform for engaging with your customers and getting feedback about your products or services. Make no mistake, more and more of your prospects are using social media channels to find more information about companies.

You need to consider the social media channels you want to prioritize your business (prioritize the ones your customers are active in) and your branding plans in this section.

Strategic Alliances

If your company plans to work closely with other companies as part of your sales and marketing plan, include it in this section. Prove details about those partnerships in your business plan if you have already established them.

Strategic alliances can be beneficial for all parties involved including your company. Working closely with another company in the form of a partnership can provide access to a different target market segment for your company.

The company you are partnering with may also gain access to your target market or simply offer a new product or service (that of your company) to its customers.

Mutually beneficial partnerships can cover the weaknesses of one company with the strength of another. You should consider strategic alliances with companies that sell complimentary products to yours. For example, if you provide printers, you can partner with a company that produces ink since the customers that buy printers from you will also need inks for printing.

Steps Involved in Creating a Marketing and Sales Plan

1. Focus on Your Target Market

Identify who your customers are, the market you want to target. Then determine the best ways to get your products or services to your potential customers.

2. Evaluate Your Competition

One of the goals of having a marketing plan is to distinguish yourself from your competition. You cannot stand out from them without first knowing them in and out.

You can know your competitors by gathering information about their products, pricing, service, and advertising campaigns.

These questions can help you know your competition.

• What makes your competition successful?
• What are their weaknesses?
• What are customers saying about your competition?

3. Consider Your Brand

Customers' perception of your brand has a strong impact on your sales. Your marketing and sales plan should seek to bolster the image of your brand. Before you start marketing your business, think about the message you want to pass across about your business and your products and services.

4. Focus on Benefits

The majority of your customers do not view your product in terms of features, what they want to know is the benefits and solutions your product offers. Think about the problems your product solves and the benefits it delivers, and use it to create the right sales and marketing message.

Your marketing plan should focus on what you want your customer to get instead of what you provide. Identify those benefits in your marketing and sales plan.

5. Focus on Differentiation

Your marketing and sales plan should look for a unique angle they can take that differentiates your business from the competition, even if the products offered are similar. Some good areas of differentiation you can use are your benefits, pricing, and features.

Key Questions to Answer When Writing Your Marketing and Sales Plan

• What is your company’s budget for sales and marketing campaigns?
• What key metrics will you use to determine if your marketing plans are successful?
• What are your alternatives if your initial marketing efforts do not succeed?
• Who are the sales representatives you need to promote your products or services?
• What are the marketing and sales channels you plan to use? How do you plan to get your products in front of your ideal customers?
• Where will you sell your products?

You may want to include samples of marketing materials you plan to use such as print ads, website descriptions, and social media ads. While it is not compulsory to include these samples, it can help you better communicate your marketing and sales plan and objectives.

The purpose of the marketing and sales section is to answer this question “How will you reach your customers?” If you cannot convincingly provide an answer to this question, you need to rework your marketing and sales section.

7. Clearly Show Your Funding Request

If you are writing your business plan to ask for funding from investors or financial institutions, the funding request section is where you will outline your funding requirements. The funding request section should answer the question ‘How much money will your business need in the near future (3 to 5 years)?’

A good funding request section will clearly outline and explain the amount of funding your business needs over the next five years. You need to know the amount of money your business needs to make an accurate funding request.

Also, when writing your funding request, provide details of how the funds will be used over the period. Specify if you want to use the funds to buy raw materials or machinery, pay salaries, pay for advertisements, and cover specific bills such as rent and electricity.

In addition to explaining what you want to use the funds requested for, you need to clearly state the projected return on investment (ROI) . Investors and creditors want to know if your business can generate profit for them if they put funds into it.

Ensure you do not inflate the figures and stay as realistic as possible. Investors and financial institutions you are seeking funds from will do their research before investing money in your business.

If you are not sure of an exact number to request from, you can use some range of numbers as rough estimates. Add a best-case scenario and a work-case scenario to your funding request. Also, include a description of your strategic future financial plans such as selling your business or paying off debts.

Funding Request: Debt or Equity?

When making your funding request, specify the type of funding you want. Do you want debt or equity? Draw out the terms that will be applicable for the funding, and the length of time the funding request will cover.

Case for Equity

If your new business has not yet started generating profits, you are most likely preparing to sell equity in your business to raise capital at the early stage. Equity here refers to ownership. In this case, you are selling a portion of your company to raise capital.

Although this method of raising capital for your business does not put your business in debt, keep in mind that an equity owner may expect to play a key role in company decisions even if he does not hold a major stake in the company.

Most equity sales for startups are usually private transactions . If you are making a funding request by offering equity in exchange for funding, let the investor know that they will be paid a dividend (a share of the company’s profit). Also, let the investor know the process for selling their equity in your business.

Case for Debt

You may decide not to offer equity in exchange for funds, instead, you make a funding request with the promise to pay back the money borrowed at the agreed time frame.

When making a funding request with an agreement to pay back, note that you will have to repay your creditors both the principal amount borrowed and the interest on it. Financial institutions offer this type of funding for businesses.

Large companies combine both equity and debt in their capital structure. When drafting your business plan, decide if you want to offer both or one over the other.

Before you sell equity in exchange for funding in your business, consider if you are willing to accept not being in total control of your business. Also, before you seek loans in your funding request section, ensure that the terms of repayment are favorable.

You should set a clear timeline in your funding request so that potential investors and creditors can know what you are expecting. Some investors and creditors may agree to your funding request and then delay payment for longer than 30 days, meanwhile, your business needs an immediate cash injection to operate efficiently.

Additional Tips for Writing the Funding Request Section of your Business Plan

The funding request section is not necessary for every business, it is only needed by businesses who plan to use their business plan to secure funding.

If you are adding the funding request section to your business plan, provide an itemized summary of how you plan to use the funds requested. Hiring a lawyer, accountant, or other professionals may be necessary for the proper development of this section.

You should also gather and use financial statements that add credibility and support to your funding requests. Ensure that the financial statements you use should include your projected financial data such as projected cash flows, forecast statements, and expenditure budgets.

If you are an existing business, include all historical financial statements such as cash flow statements, balance sheets and income statements .

Provide monthly and quarterly financial statements for a year. If your business has records that date back beyond the one-year mark, add the yearly statements of those years. These documents are for the appendix section of your business plan.

8. Detail Your Financial Plan, Metrics, and Projections

If you used the funding request section in your business plan, supplement it with a financial plan, metrics, and projections. This section paints a picture of the past performance of your business and then goes ahead to make an informed projection about its future.

The goal of this section is to convince readers that your business is going to be a financial success. It outlines your business plan to generate enough profit to repay the loan (with interest if applicable) and to generate a decent return on investment for investors.

If you have an existing business already in operation, use this section to demonstrate stability through finance. This section should include your cash flow statements, balance sheets, and income statements covering the last three to five years. If your business has some acceptable collateral that you can use to acquire loans, list it in the financial plan, metrics, and projection section.

Apart from current financial statements, this section should also contain a prospective financial outlook that spans the next five years. Include forecasted income statements, cash flow statements, balance sheets, and capital expenditure budget.

If your business is new and is not yet generating profit, use clear and realistic projections to show the potentials of your business.

When drafting this section, research industry norms and the performance of comparable businesses. Your financial projections should cover at least five years. State the logic behind your financial projections. Remember you can always make adjustments to this section as the variables change.

The financial plan, metrics, and projection section create a baseline which your business can either exceed or fail to reach. If your business fails to reach your projections in this section, you need to understand why it failed.

Investors and loan managers spend a lot of time going through the financial plan, metrics, and projection section compared to other parts of the business plan. Ensure you spend time creating credible financial analyses for your business in this section.

Many entrepreneurs find this section daunting to write. You do not need a business degree to create a solid financial forecast for your business. Business finances, especially for startups, are not as complicated as they seem. There are several online tools and templates that make writing this section so much easier.

Use Graphs and Charts

The financial plan, metrics, and projection section is a great place to use graphs and charts to tell the financial story of your business. Charts and images make it easier to communicate your finances.

Accuracy in this section is key, ensure you carefully analyze your past financial statements properly before making financial projects.

Address the Risk Factors and Show Realistic Financial Projections

Keep your financial plan, metrics, and projection realistic. It is okay to be optimistic in your financial projection, however, you have to justify it.

You should also address the various risk factors associated with your business in this section. Investors want to know the potential risks involved, show them. You should also show your plans for mitigating those risks.

What You Should In The Financial Plan, Metrics, and Projection Section of Your Business Plan

The financial plan, metrics, and projection section of your business plan should have monthly sales and revenue forecasts for the first year. It should also include annual projections that cover 3 to 5 years.

A three-year projection is a basic requirement to have in your business plan. However, some investors may request a five-year forecast.

Your business plan should include the following financial statements: sales forecast, personnel plan, income statement, income statement, cash flow statement, balance sheet, and an exit strategy.

1. Sales Forecast

Sales forecast refers to your projections about the number of sales your business is going to record over the next few years. It is typically broken into several rows, with each row assigned to a core product or service that your business is offering.

One common mistake people make in their business plan is to break down the sales forecast section into long details. A sales forecast should forecast the high-level details.

For example, if you are forecasting sales for a payroll software provider, you could break down your forecast into target market segments or subscription categories.

Your sales forecast section should also have a corresponding row for each sales row to cover the direct cost or Cost of Goods Sold (COGS). The objective of these rows is to show the expenses that your business incurs in making and delivering your product or service.

Note that your Cost of Goods Sold (COGS) should only cover those direct costs incurred when making your products. Other indirect expenses such as insurance, salaries, payroll tax, and rent should not be included.

For example, the Cost of Goods Sold (COGS) for a restaurant is the cost of ingredients while for a consulting company it will be the cost of paper and other presentation materials.

2. Personnel Plan

The personnel plan section is where you provide details about the payment plan for your employees. For a small business, you can easily list every position in your company and how much you plan to pay in the personnel plan.

However, for larger businesses, you have to break the personnel plan into functional groups such as sales and marketing.

The personnel plan will also include the cost of an employee beyond salary, commonly referred to as the employee burden. These costs include insurance, payroll taxes , and other essential costs incurred monthly as a result of having employees on your payroll.

3. Income Statement

The income statement section shows if your business is making a profit or taking a loss. Another name for the income statement is the profit and loss (P&L). It takes data from your sales forecast and personnel plan and adds other ongoing expenses you incur while running your business.

Every business plan should have an income statement. It subtracts your business expenses from its earnings to show if your business is generating profit or incurring losses.

The income statement has the following items: sales, Cost of Goods Sold (COGS), gross margin, operating expenses, total operating expenses, operating income , total expenses, and net profit.

• Sales refer to the revenue your business generates from selling its products or services. Other names for sales are income or revenue.
• Cost of Goods Sold (COGS) refers to the total cost of selling your products. Other names for COGS are direct costs or cost of sales. Manufacturing businesses use the Costs of Goods Manufactured (COGM) .
• Gross Margin is the figure you get when you subtract your COGS from your sales. In your income statement, you can express it as a percentage of total sales (Gross margin / Sales = Gross Margin Percent).
• Operating Expenses refer to all the expenses you incur from running your business. It exempts the COGS because it stands alone as a core part of your income statement. You also have to exclude taxes, depreciation, and amortization. Your operating expenses include salaries, marketing expenses, research and development (R&D) expenses, and other expenses.
• Total Operating Expenses refers to the sum of all your operating expenses including those exemptions named above under operating expenses.
• Operating Income refers to earnings before interest, taxes, depreciation, and amortization. It is simply known as the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization). Calculating your operating income is simple, all you need to do is to subtract your COGS and total operating expenses from your sales.
• Total Expenses refer to the sum of your operating expenses and your business’ interest, taxes, depreciation, and amortization.
• Net profit shows whether your business has made a profit or taken a loss during a given timeframe.

4. Cash Flow Statement

The cash flow statement tracks the money you have in the bank at any given point. It is often confused with the income statement or the profit and loss statement. They are both different types of financial statements. The income statement calculates your profits and losses while the cash flow statement shows you how much you have in the bank.

5. Balance Sheet

The balance sheet is a financial statement that provides an overview of the financial health of your business. It contains information about the assets and liabilities of your company, and owner’s or shareholders’ equity.

You can get the net worth of your company by subtracting your company’s liabilities from its assets.

6. Exit Strategy

The exit strategy refers to a probable plan for selling your business either to the public in an IPO or to another company. It is the last thing you include in the financial plan, metrics, and projection section.

You can choose to omit the exit strategy from your business plan if you plan to maintain full ownership of your business and do not plan on seeking angel investment or virtual capitalist (VC) funding.

Investors may want to know what your exit plan is. They invest in your business to get a good return on investment.

Your exit strategy does not have to include long and boring details. Ensure you identify some interested parties who may be interested in buying the company if it becomes a success.

Key Questions to Answer with Your Financial Plan, Metrics, and Projection

Your financial plan, metrics, and projection section helps investors, creditors, or your internal managers to understand what your expenses are, the amount of cash you need, and what it takes to make your company profitable. It also shows what you will be doing with any funding.

You do not need to show actual financial data if you do not have one. Adding forecasts and projections to your financial statements is added proof that your strategy is feasible and shows investors you have planned properly.

Here are some key questions to answer to help you develop this section.

• What is your sales forecast for the next year?
• When will your company achieve a positive cash flow?
• What are the core expenses you need to operate?
• How much money do you need upfront to operate or grow your company?
• How will you use the loans or investments?

9. Add an Appendix to Your Business Plan

Adding an appendix to your business plan is optional. It is a useful place to put any charts, tables, legal notes, definitions, permits, résumés, and other critical information that do not fit into other sections of your business plan.

The appendix section is where you would want to include details of a patent or patent-pending if you have one. You can always add illustrations or images of your products here. It is the last section of your business plan.

When writing your business plan, there are details you cut short or remove to prevent the entire section from becoming too lengthy. There are also details you want to include in the business plan but are not a good fit for any of the previous sections. You can add that additional information to the appendix section.

Businesses also use the appendix section to include supporting documents or other materials specially requested by investors or lenders.

You can include just about any information that supports the assumptions and statements you made in the business plan under the appendix. It is the one place in the business plan where unrelated data and information can coexist amicably.

If your appendix section is lengthy, try organizing it by adding a table of contents at the beginning of the appendix section. It is also advisable to group similar information to make it easier for the reader to access them.

A well-organized appendix section makes it easier to share your information clearly and concisely. Add footnotes throughout the rest of the business plan or make references in the plan to the documents in the appendix.

The appendix section is usually only necessary if you are seeking funding from investors or lenders, or hoping to attract partners.

People reading business plans do not want to spend time going through a heap of backup information, numbers, and charts. Keep these documents or information in the Appendix section in case the reader wants to dig deeper.

Common Items to Include in the Appendix Section of Your Business Plan

The appendix section includes documents that supplement or support the information or claims given in other sections of the business plans. Common items you can include in the appendix section include:

• Additional data about the process of manufacturing or creation
• Additional description of products or services such as product schematics
• Additional financial documents or projections
• Articles of incorporation and status
• Backup for market research or competitive analysis
• Bank statements
• Business registries
• Client testimonials (if your business is already running)
• Copies of insurances
• Credit histories (personal or/and business)
• Deeds and permits
• Equipment leases
• Examples of marketing and advertising collateral
• Industry associations and memberships
• Images of product
• Intellectual property
• Key customer contracts
• Legal documents and other contracts
• Letters of reference
• Links to references
• Market research data
• Organizational charts
• Photographs of potential facilities
• Professional licenses pertaining to your legal structure or type of business
• Purchase orders
• Resumes of the founder(s) and key managers
• State and federal identification numbers or codes
• Trademarks or patents’ registrations

Avoid using the appendix section as a place to dump any document or information you feel like adding. Only add documents or information that you support or increase the credibility of your business plan.

Tips and Strategies for Writing a Convincing Business Plan

To achieve a perfect business plan, you need to consider some key tips and strategies. These tips will raise the efficiency of your business plan above average.

1. Know Your Audience

When writing a business plan, you need to know your audience . Business owners write business plans for different reasons. Your business plan has to be specific. For example, you can write business plans to potential investors, banks, and even fellow board members of the company.

The audience you are writing to determines the structure of the business plan. As a business owner, you have to know your audience. Not everyone will be your audience. Knowing your audience will help you to narrow the scope of your business plan.

Consider what your audience wants to see in your projects, the likely questions they might ask, and what interests them.

• A business plan used to address a company's board members will center on its employment schemes, internal affairs, projects, stakeholders, etc.
• A business plan for financial institutions will talk about the size of your market and the chances for you to pay back any loans you demand.
• A business plan for investors will show proof that you can return the investment capital within a specific time. In addition, it discusses your financial projections, tractions, and market size.

2. Get Inspiration from People

Writing a business plan from scratch as an entrepreneur can be daunting. That is why you need the right inspiration to push you to write one. You can gain inspiration from the successful business plans of other businesses. Look at their business plans, the style they use, the structure of the project, etc.

To make your business plan easier to create, search companies related to your business to get an exact copy of what you need to create an effective business plan. You can also make references while citing examples in your business plans.

When drafting your business plan, get as much help from others as you possibly can. By getting inspiration from people, you can create something better than what they have.

3. Avoid Being Over Optimistic

Many business owners make use of strong adjectives to qualify their content. One of the big mistakes entrepreneurs make when preparing a business plan is promising too much.

The use of superlatives and over-optimistic claims can prepare the audience for more than you can offer. In the end, you disappoint the confidence they have in you.

In most cases, the best option is to be realistic with your claims and statistics. Most of the investors can sense a bit of incompetency from the overuse of superlatives. As a new entrepreneur, do not be tempted to over-promise to get the interests of investors.

The concept of entrepreneurship centers on risks, nothing is certain when you make future analyses. What separates the best is the ability to do careful research and work towards achieving that, not promising more than you can achieve.

To make an excellent first impression as an entrepreneur, replace superlatives with compelling data-driven content. In this way, you are more specific than someone promising a huge ROI from an investment.

4. Keep it Simple and Short

When writing business plans, ensure you keep them simple throughout. Irrespective of the purpose of the business plan, your goal is to convince the audience.

One way to achieve this goal is to make them understand your proposal. Therefore, it would be best if you avoid the use of complex grammar to express yourself. It would be a huge turn-off if the people you want to convince are not familiar with your use of words.

Another thing to note is the length of your business plan. It would be best if you made it as brief as possible.

You hardly see investors or agencies that read through an extremely long document. In that case, if your first few pages can’t convince them, then you have lost it. The more pages you write, the higher the chances of you derailing from the essential contents.

To ensure your business plan has a high conversion rate, you need to dispose of every unnecessary information. For example, if you have a strategy that you are not sure of, it would be best to leave it out of the plan.

5. Make an Outline and Follow Through

A perfect business plan must have touched every part needed to convince the audience. Business owners get easily tempted to concentrate more on their products than on other sections. Doing this can be detrimental to the efficiency of the business plan.

For example, imagine you talking about a product but omitting or providing very little information about the target audience. You will leave your clients confused.

To ensure that your business plan communicates your full business model to readers, you have to input all the necessary information in it. One of the best ways to achieve this is to design a structure and stick to it.

This structure is what guides you throughout the writing. To make your work easier, you can assign an estimated word count or page limit to every section to avoid making it too bulky for easy reading. As a guide, the necessary things your business plan must contain are:

• Table of contents
• Introduction
• Product or service description
• Target audience
• Market size
• Competition analysis
• Financial projections

Some specific businesses can include some other essential sections, but these are the key sections that must be in every business plan.

6. Ask a Professional to Proofread

When writing a business plan, you must tie all loose ends to get a perfect result. When you are done with writing, call a professional to go through the document for you. You are bound to make mistakes, and the way to correct them is to get external help.

You should get a professional in your field who can relate to every section of your business plan. It would be easier for the professional to notice the inner flaws in the document than an editor with no knowledge of your business.

In addition to getting a professional to proofread, get an editor to proofread and edit your document. The editor will help you identify grammatical errors, spelling mistakes, and inappropriate writing styles.

Writing a business plan can be daunting, but you can surmount that obstacle and get the best out of it with these tips.

Business Plan Examples and Templates That’ll Save You Tons of Time

1. hubspot's one-page business plan.

The one-page business plan template by HubSpot is the perfect guide for businesses of any size, irrespective of their business strategy. Although the template is condensed into a page, your final business plan should not be a page long! The template is designed to ask helpful questions that can help you develop your business plan.

Hubspot’s one-page business plan template is divided into nine fields:

• Business opportunity
• Company description
• Industry analysis
• Target market
• Implementation timeline
• Marketing plan
• Financial summary
• Funding required

2. Bplan’s Free Business Plan Template

Bplans' free business plan template is investor-approved. It is a rich template used by prestigious educational institutions such as Babson College and Princeton University to teach entrepreneurs how to create a business plan.

The template has six sections: the executive summary, opportunity, execution, company, financial plan, and appendix. There is a step-by-step guide for writing every little detail in the business plan. Follow the instructions each step of the way and you will create a business plan that impresses investors or lenders easily.

3. HubSpot's Downloadable Business Plan Template

HubSpot’s downloadable business plan template is a more comprehensive option compared to the one-page business template by HubSpot. This free and downloadable business plan template is designed for entrepreneurs.

The template is a comprehensive guide and checklist for business owners just starting their businesses. It tells you everything you need to fill in each section of the business plan and how to do it.

There are nine sections in this business plan template: an executive summary, company and business description, product and services line, market analysis, marketing plan, sales plan, legal notes, financial considerations, and appendix.

4. Business Plan by My Own Business Institute

My Own Business Institute (MOBI) which is a part of Santa Clara University's Center for Innovation and Entrepreneurship offers a free business plan template. You can either copy the free business template from the link provided above or download it as a Word document.

The comprehensive template consists of a whopping 15 sections.

• The Business Profile
• The Vision and the People
• Home-Based Business and Freelance Business Opportunities
• Organization
• Licenses and Permits
• Business Insurance
• Communication Tools
• Acquisitions
• Location and Leasing
• Accounting and Cash Flow
• Opening and Marketing
• Managing Employees
• Expanding and Handling Problems

There are lots of helpful tips on how to fill each section in the free business plan template by MOBI.

5. Score's Business Plan Template for Startups

Score is an American nonprofit organization that helps entrepreneurs build successful companies. This business plan template for startups by Score is available for free download. The business plan template asks a whooping 150 generic questions that help entrepreneurs from different fields to set up the perfect business plan.

The business plan template for startups contains clear instructions and worksheets, all you have to do is answer the questions and fill the worksheets.

There are nine sections in the business plan template: executive summary, company description, products and services, marketing plan, operational plan, management and organization, startup expenses and capitalization, financial plan, and appendices.

The ‘refining the plan’ resource contains instructions that help you modify your business plan to suit your specific needs, industry, and target audience. After you have completed Score’s business plan template, you can work with a SCORE mentor for expert advice in business planning.

6. Minimalist Architecture Business Plan Template by Venngage

The minimalist architecture business plan template is a simple template by Venngage that you can customize to suit your business needs .

There are five sections in the template: an executive summary, statement of problem, approach and methodology, qualifications, and schedule and benchmark. The business plan template has instructions that guide users on what to fill in each section.

7. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers two free business plan templates, filled with practical real-life examples that you can model to create your business plan. Both free business plan templates are written by fictional business owners: Rebecca who owns a consulting firm, and Andrew who owns a toy company.

There are five sections in the two SBA’s free business plan templates.

• Executive Summary
• Company Description
• Service Line
• Marketing and Sales

8. The $100 Startup's One-Page Business Plan

The one-page business plan by the $100 startup is a simple business plan template for entrepreneurs who do not want to create a long and complicated plan . You can include more details in the appendices for funders who want more information beyond what you can put in the one-page business plan.

There are five sections in the one-page business plan such as overview, ka-ching, hustling, success, and obstacles or challenges or open questions. You can answer all the questions using one or two sentences.

9. PandaDoc’s Free Business Plan Template

The free business plan template by PandaDoc is a comprehensive 15-page document that describes the information you should include in every section.

There are 11 sections in PandaDoc’s free business plan template.

• Executive summary
• Business description
• Products and services
• Operations plan
• Management organization
• Financial plan
• Conclusion / Call to action
• Confidentiality statement

You have to sign up for its 14-day free trial to access the template. You will find different business plan templates on PandaDoc once you sign up (including templates for general businesses and specific businesses such as bakeries, startups, restaurants, salons, hotels, and coffee shops)

PandaDoc allows you to customize its business plan templates to fit the needs of your business. After editing the template, you can send it to interested parties and track opens and views through PandaDoc.

10. Invoiceberry Templates for Word, Open Office, Excel, or PPT

InvoiceBerry is a U.K based online invoicing and tracking platform that offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats for freelancers and small businesses.

Before you can download the free business plan template, it will ask you to give it your email address. After you complete the little task, it will send the download link to your inbox for you to download. It also provides a business plan checklist in .xlsx file format that ensures you add the right information to the business plan.

Alternatives to the Traditional Business Plan

A business plan is very important in mapping out how one expects their business to grow over a set number of years, particularly when they need external investment in their business. However, many investors do not have the time to watch you present your business plan. It is a long and boring read.

Luckily, there are three alternatives to the traditional business plan (the Business Model Canvas, Lean Canvas, and Startup Pitch Deck). These alternatives are less laborious and easier and quicker to present to investors.

Business Model Canvas (BMC)

The business model canvas is a business tool used to present all the important components of setting up a business, such as customers, route to market, value proposition, and finance in a single sheet. It provides a very focused blueprint that defines your business initially which you can later expand on if needed.

The sheet is divided mainly into company, industry, and consumer models that are interconnected in how they find problems and proffer solutions.

Segments of the Business Model Canvas

The business model canvas was developed by founder Alexander Osterwalder to answer important business questions. It contains nine segments.

• Key Partners: Who will be occupying important executive positions in your business? What do they bring to the table? Will there be a third party involved with the company?
• Key Activities: What important activities will production entail? What activities will be carried out to ensure the smooth running of the company?
• The Product’s Value Propositions: What does your product do? How will it be different from other products?
• Customer Segments: What demography of consumers are you targeting? What are the habits of these consumers? Who are the MVPs of your target consumers?
• Customer Relationships: How will the team support and work with its customer base? How do you intend to build and maintain trust with the customer?
• Key Resources: What type of personnel and tools will be needed? What size of the budget will they need access to?
• Channels: How do you plan to create awareness of your products? How do you intend to transport your product to the customer?
• Cost Structure: What is the estimated cost of production? How much will distribution cost?
• Revenue Streams: For what value are customers willing to pay? How do they prefer to pay for the product? Are there any external revenues attached apart from the main source? How do the revenue streams contribute to the overall revenue?

Lean Canvas

The lean canvas is a problem-oriented alternative to the standard business model canvas. It was proposed by Ash Maurya, creator of Lean Stack as a development of the business model generation. It uses a more problem-focused approach and it majorly targets entrepreneurs and startup businesses.

Lean Canvas uses the same 9 blocks concept as the business model canvas, however, they have been modified slightly to suit the needs and purpose of a small startup. The key partners, key activities, customer relationships, and key resources are replaced by new segments which are:

• Problem: Simple and straightforward number of problems you have identified, ideally three.
• Solution: The solutions to each problem.
• Unfair Advantage: Something you possess that can't be easily bought or replicated.
• Key Metrics: Important numbers that will tell how your business is doing.

Startup Pitch Deck

While the business model canvas compresses into a factual sheet, startup pitch decks expand flamboyantly.

Pitch decks, through slides, convey your business plan, often through graphs and images used to emphasize estimations and observations in your presentation. Entrepreneurs often use pitch decks to fully convince their target audience of their plans before discussing funding arrangements.

Considering the likelihood of it being used in a small time frame, a good startup pitch deck should ideally contain 20 slides or less to have enough time to answer questions from the audience.

Unlike the standard and lean business model canvases, a pitch deck doesn't have a set template on how to present your business plan but there are still important components to it. These components often mirror those of the business model canvas except that they are in slide form and contain more details.

Using Airbnb (one of the most successful start-ups in recent history) for reference, the important components of a good slide are listed below.

• Cover/Introduction Slide: Here, you should include your company's name and mission statement. Your mission statement should be a very catchy tagline. Also, include personal information and contact details to provide an easy link for potential investors.
• Problem Slide: This slide requires you to create a connection with the audience or the investor that you are pitching. For example in their pitch, Airbnb summarized the most important problems it would solve in three brief points – pricing of hotels, disconnection from city culture, and connection problems for local bookings.
• Solution Slide: This slide includes your core value proposition. List simple and direct solutions to the problems you have mentioned
• Customer Analysis: Here you will provide information on the customers you will be offering your service to. The identity of your customers plays an important part in fundraising as well as the long-run viability of the business.
• Market Validation: Use competitive analysis to show numbers that prove the presence of a market for your product, industry behavior in the present and the long run, as well as the percentage of the market you aim to attract. It shows that you understand your competitors and customers and convinces investors of the opportunities presented in the market.
• Business Model: Your business model is the hook of your presentation. It may vary in complexity but it should generally include a pricing system informed by your market analysis. The goal of the slide is to confirm your business model is easy to implement.
• Marketing Strategy: This slide should summarize a few customer acquisition methods that you plan to use to grow the business.
• Competitive Advantage: What this slide will do is provide information on what will set you apart and make you a more attractive option to customers. It could be the possession of technology that is not widely known in the market.
• Team Slide: Here you will give a brief description of your team. Include your key management personnel here and their specific roles in the company. Include their educational background, job history, and skillsets. Also, talk about their accomplishments in their careers so far to build investors' confidence in members of your team.
• Traction Slide: This validates the company’s business model by showing growth through early sales and support. The slide aims to reduce any lingering fears in potential investors by showing realistic periodic milestones and profit margins. It can include current sales, growth, valuable customers, pre-orders, or data from surveys outlining current consumer interest.
• Funding Slide: This slide is popularly referred to as ‘the ask'. Here you will include important details like how much is needed to get your business off the ground and how the funding will be spent to help the company reach its goals.
• Appendix Slides: Your pitch deck appendix should always be included alongside a standard pitch presentation. It consists of additional slides you could not show in the pitch deck but you need to complement your presentation.

It is important to support your calculations with pictorial renditions. Infographics, such as pie charts or bar graphs, will be more effective in presenting the information than just listing numbers. For example, a six-month graph that shows rising profit margins will easily look more impressive than merely writing it.

Lastly, since a pitch deck is primarily used to secure meetings and you may be sharing your pitch with several investors, it is advisable to keep a separate public version that doesn't include financials. Only disclose the one with projections once you have secured a link with an investor.

Advantages of the Business Model Canvas, Lean Canvas, and Startup Pitch Deck over the Traditional Business Plan

• Time-Saving: Writing a detailed traditional business plan could take weeks or months. On the other hand, all three alternatives can be done in a few days or even one night of brainstorming if you have a comprehensive understanding of your business.
• Easier to Understand: Since the information presented is almost entirely factual, it puts focus on what is most important in running the business. They cut away the excess pages of fillers in a traditional business plan and allow investors to see what is driving the business and what is getting in the way.
• Easy to Update: Businesses typically present their business plans to many potential investors before they secure funding. What this means is that you may regularly have to amend your presentation to update statistics or adjust to audience-specific needs. For a traditional business plan, this could mean rewriting a whole section of your plan. For the three alternatives, updating is much easier because they are not voluminous.
• Guide for a More In-depth Business Plan: All three alternatives have the added benefit of being able to double as a sketch of your business plan if the need to create one arises in the future.

Business Plan FAQ

Business plans are important for any entrepreneur who is looking for a framework to run their company over some time or seeking external support. Although they are essential for new businesses, every company should ideally have a business plan to track their growth from time to time.  They can be used by startups seeking investments or loans to convey their business ideas or an employee to convince his boss of the feasibility of starting a new project. They can also be used by companies seeking to recruit high-profile employee targets into key positions or trying to secure partnerships with other firms.

Business plans often vary depending on your target audience, the scope, and the goals for the plan. Startup plans are the most common among the different types of business plans.  A start-up plan is used by a new business to present all the necessary information to help get the business up and running. They are usually used by entrepreneurs who are seeking funding from investors or bank loans. The established company alternative to a start-up plan is a feasibility plan. A feasibility plan is often used by an established company looking for new business opportunities. They are used to show the upsides of creating a new product for a consumer base. Because the audience is usually company people, it requires less company analysis. The third type of business plan is the lean business plan. A lean business plan is a brief, straight-to-the-point breakdown of your ideas and analysis for your business. It does not contain details of your proposal and can be written on one page. Finally, you have the what-if plan. As it implies, a what-if plan is a preparation for the worst-case scenario. You must always be prepared for the possibility of your original plan being rejected. A good what-if plan will serve as a good plan B to the original.

A good business plan has 10 key components. They include an executive plan, product analysis, desired customer base, company analysis, industry analysis, marketing strategy, sales strategy, financial projection, funding, and appendix. Executive Plan Your business should begin with your executive plan. An executive plan will provide early insight into what you are planning to achieve with your business. It should include your mission statement and highlight some of the important points which you will explain later. Product Analysis The next component of your business plan is your product analysis. A key part of this section is explaining the type of item or service you are going to offer as well as the market problems your product will solve. Desired Consumer Base Your product analysis should be supplemented with a detailed breakdown of your desired consumer base. Investors are always interested in knowing the economic power of your market as well as potential MVP customers. Company Analysis The next component of your business plan is your company analysis. Here, you explain how you want to run your business. It will include your operational strategy, an insight into the workforce needed to keep the company running, and important executive positions. It will also provide a calculation of expected operational costs.  Industry Analysis A good business plan should also contain well laid out industry analysis. It is important to convince potential investors you know the companies you will be competing with, as well as your plans to gain an edge on the competition. Marketing Strategy Your business plan should also include your marketing strategy. This is how you intend to spread awareness of your product. It should include a detailed explanation of the company brand as well as your advertising methods. Sales Strategy Your sales strategy comes after the market strategy. Here you give an overview of your company's pricing strategy and how you aim to maximize profits. You can also explain how your prices will adapt to market behaviors. Financial Projection The financial projection is the next component of your business plan. It explains your company's expected running cost and revenue earned during the tenure of the business plan. Financial projection gives a clear idea of how your company will develop in the future. Funding The next component of your business plan is funding. You have to detail how much external investment you need to get your business idea off the ground here. Appendix The last component of your plan is the appendix. This is where you put licenses, graphs, or key information that does not fit in any of the other components.

The business model canvas is a business management tool used to quickly define your business idea and model. It is often used when investors need you to pitch your business idea during a brief window.

A pitch deck is similar to a business model canvas except that it makes use of slides in its presentation. A pitch is not primarily used to secure funding, rather its main purpose is to entice potential investors by selling a very optimistic outlook on the business.

Business plan competitions help you evaluate the strength of your business plan. By participating in business plan competitions, you are improving your experience. The experience provides you with a degree of validation while practicing important skills. The main motivation for entering into the competitions is often to secure funding by finishing in podium positions. There is also the chance that you may catch the eye of a casual observer outside of the competition. These competitions also provide good networking opportunities. You could meet mentors who will take a keen interest in guiding you in your business journey. You also have the opportunity to meet other entrepreneurs whose ideas can complement yours.

Exlore Further

• 12 Key Elements of a Business Plan (Top Components Explained)
• 13 Sources of Business Finance For Companies & Sole Traders
• 5 Common Types of Business Structures (+ Pros & Cons)
• How to Buy a Business in 8 Steps (+ Due Diligence Checklist)

Was This Article Helpful?

Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

How to Write a Business Plan (Plus Examples & Templates)

May 24, 2021

Have you ever wondered how to write a business plan step by step? Mike Andes, told us: 

This guide will help you write a business plan to impress investors.

Throughout this process, we’ll get information from Mike Andes, who started Augusta Lawn Care Services when he was 12 and turned it into a franchise with over 90 locations. He has gone on to help others learn how to write business plans and start businesses.  He knows a thing or two about writing  business plans!

We’ll start by discussing the definition of a business plan. Then we’ll discuss how to come up with the idea, how to do the market research, and then the important elements in the business plan format. Keep reading to start your journey!

What Is a Business Plan?

A business plan is simply a road map of what you are trying to achieve with your business and how you will go about achieving it. It should cover all elements of your business including: 

• Finding customers
• Plans for developing a team
•  Competition
• Legal structures
• Key milestones you are pursuing

If you aren’t quite ready to create a business plan, consider starting by reading our business startup guide .

Get a Business Idea

Before you can write a business plan, you have to have a business idea. You may see a problem that needs to be solved and have an idea how to solve it, or you might start by evaluating your interests and skills. 

Mike told us, “The three things I suggest asking yourself when thinking about starting a business are:

• What am I good at?
• What would I enjoy doing?
• What can I get paid for?”

If all three of these questions don’t lead to at least one common answer, it will probably be a much harder road to success. Either there is not much market for it, you won’t be good at it, or you won’t enjoy doing it. 

As Mike told us, “There’s enough stress starting and running a business that if you don’t like it or aren’t good at it, it’s hard to succeed.”

If you’d like to hear more about Mike’s approach to starting a business, check out our YouTube video

Conduct Market Analysis

Market analysis is focused on establishing if there is a target market for your products and services, how large the target market is, and identifying the demographics of people or businesses that would be interested in the product or service. The goal here is to establish how much money your business concept can make.

Product and Service Demand

A search engine is your best friend when trying to figure out if there is demand for your products and services. Personally, I love using presearch.org because it lets you directly search on a ton of different platforms including Google, Youtube, Twitter, and more. Check out the screenshot for the full list of search options.

With quick web searches, you can find out how many competitors you have, look through their reviews, and see if there are common complaints about the competitors. Bad reviews are a great place to find opportunities to offer better products or services. 

If there are no similar products or services, you may have stumbled upon something new, or there may just be no demand for it. To find out, go talk to your most honest friend about the idea and see what they think. If they tell you it’s dumb or stare at you vacantly, there’s probably no market for it.

You can also conduct a survey through social media to get public opinion on your idea. Using Facebook Business Manager , you could get a feel for who would be interested in your product or service.

 I ran a quick test of how many people between 18-65  you could reach in the U.S. during a week. It returned an estimated 700-2,000 for the total number of leads, which is enough to do a fairly accurate statistical analysis.

Identify Demographics of Target Market

Depending on what type of business you want to run, your target market will be different. The narrower the demographic, the fewer potential customers you’ll have. If you did a survey, you’ll be able to use that data to help define your target audience. Some considerations you’ll want to consider are:

• Other Interests
• Marital Status
• Do they have kids?

Once you have this information, it can help you narrow down your options for location and help define your marketing further. One resource that Mike recommended using is the Census Bureau’s Quick Facts Map . He told us,  

“It helps you quickly evaluate what the best areas are for your business to be located.”

How to Write a Business Plan

Now that you’ve developed your idea a little and established there is a market for it, you can begin writing a business plan. Getting started is easier with the business plan template we created for you to download. I strongly recommend using it as it is updated to make it easier to create an action plan. 

Each of the following should be a section of your business plan:

• Business Plan Cover Page
• Table of Contents
• Executive Summary
• Company Description
• Description of Products and Services

SWOT Analysis

• Competitor Data
• Competitive Analysis
• Marketing Expenses Strategy 

Pricing Strategy

• Distribution Channel Assessment
• Operational Plan
• Management and Organizational Strategy
• Financial Statements and/or Financial Projections

We’ll look into each of these. Don’t forget to download our free business plan template (mentioned just above) so you can follow along as we go. 

How to Write a Business Plan Step 1. Create a Cover Page

The first thing investors will see is the cover page for your business plan. Make sure it looks professional. A great cover page shows that you think about first impressions.

A good business plan should have the following elements on a cover page:

• Professionally designed logo
• Company name
• Mission or Vision Statement
• Contact Info

Basically, think of a cover page for your business plan like a giant business card. It is meant to capture people’s attention but be quickly processed.

How to Write a Business Plan Step 2. Create a Table of Contents

Most people are busy enough that they don’t have a lot of time. Providing a table of contents makes it easy for them to find the pages of your plan that are meaningful to them.

A table of contents will be immediately after the cover page, but you can include it after the executive summary. Including the table of contents immediately after the executive summary will help investors know what section of your business plan they want to review more thoroughly.

Check out Canva’s article about creating a  table of contents . It has a ton of great information about creating easy access to each section of your business plan. Just remember that you’ll want to use different strategies for digital and hard copy business plans.

How to Write a Business Plan Step 3. Write an Executive Summary

An executive summary is where your business plan should catch the readers interest.  It doesn’t need to be long, but should be quick and easy to read.

Mike told us,

How long should an executive summary bein an informal business plan?

For casual use, an executive summary should be similar to an elevator pitch, no more than 150-160 words, just enough to get them interested and wanting more. Indeed has a great article on elevator pitches .  This can also be used for the content of emails to get readers’ attention.

It consists of three basic parts:

• An introduction to you and your business.
• What your business is about.
• A call to action

Example of an informal executive summary 

One of the best elevator pitches I’ve used is:

So far that pitch has achieved a 100% success rate in getting partnerships for the business.

What should I include in an executive summary for investors?

Investors are going to need a more detailed executive summary if you want to secure financing or sell equity. The executive summary should be a brief overview of your entire business plan and include:

• Introduction of yourself and company.
• An origin story (Recognition of a problem and how you came to solution)
• An introduction to your products or services.
• Your unique value proposition. Make sure to include intellectual property.
• Where you are in the business life cycle
• Request and why you need it.

Successful business plan examples

The owner of Urbanity told us he spent 2 months writing a 75-page business plan and received a $250,000 loan from the bank when he was 23. Make your business plan as detailed as possible when looking for financing. We’ve provided a template to help you prepare the portions of a business plan that banks expect.

Here’s the interview with the owner of Urbanity:

When to write an executive summary?

Even though the summary is near the beginning of a business plan, you should write it after you complete the rest of a business plan. You can’t talk about revenue, profits, and expected expenditures if you haven’t done the market research and created a financial plan.

What mistakes do people make when writing an executive summary?

Business owners commonly go into too much detail about the following items in an executive summary:

• Marketing and sales processes
• Financial statements
• Organizational structure
• Market analysis

These are things that people will want to know later, but they don’t hook the reader. They won’t spark interest in your small business, but they’ll close the deal.

How to Write a Business Plan Step 4. Company Description

Every business plan should include a company description. A great business plan will include the following elements while describing the company:

• Mission statement
• Philosophy and vision
• Company goals

Target market

• Legal structure

Let’s take a look at what each section includes in a good business plan.

Mission Statement

A mission statement is a brief explanation of why you started the company and what the company’s main focus is. It should be no more than one or two sentences. Check out HubSpot’s article 27 Inspiring Mission Statement for a great read on informative and inspiring mission and vision statements. 

Company Philosophy and Vision

The company philosophy is what drives your company. You’ll normally hear them called core values.  These are the building blocks that make your company different. You want to communicate your values to customers, business owners, and investors as often as possible to build a company culture, but make sure to back them up.

What makes your company different?

Each company is different. Your new business should rise above the standard company lines of honesty, integrity, fun, innovation, and community when communicating your business values. The standard answers are corporate jargon and lack authenticity. 

Examples of core values

One of my clients decided to add a core values page to their website. As a tech company they emphasized the values:

•  Prioritize communication.
•  Never stop learning.
•  Be transparent.
•  Start small and grow incrementally.

These values communicate how the owner and the rest of the company operate. They also show a value proposition and competitive advantage because they specifically focus on delivering business value from the start. These values also genuinely show what the company is about and customers recognize the sincerity. Indeed has a great blog about how to identify your core values .

What is a vision statement?

A vision statement communicate the long lasting change a business pursues. The vision helps investors and customers understand what your company is trying to accomplish. The vision statement goes beyond a mission statement to provide something meaningful to the community, customer’s lives, or even the world.

Example vision statements

The Alzheimer’s Association is a great example of a vision statement:

A world without Alzheimer’s Disease and other dementia.

It clearly tells how they want to change the world. A world without Alzheimers might be unachievable, but that means they always have room for improvement.

Business Goals

You have to measure success against goals for a business plan to be meaningful. A business plan helps guide a company similar to how your GPS provides a road map to your favorite travel destination. A goal to make as much money as possible is not inspirational and sounds greedy.

Sure, business owners want to increase their profits and improve customer service, but they need to present an overview of what they consider success. The goals should help everyone prioritize their work.

How far in advance should a business plan?

Business planning should be done at least one year in advance, but many banks and investors prefer three to five year business plans. Longer plans show investors that the management team  understands the market and knows the business is operating in a constantly shifting market. In addition, a plan helps businesses to adjust to changes because they have already considered how to handle them.

Example of great business goals

My all time-favorite long-term company goals are included in Tesla’s Master Plan, Part Deux . These goals were written in 2016 and drive the company’s decisions through 2026. They are the reason that investors are so forgiving when Elon Musk continually fails to meet his quarterly and annual goals.

If the progress aligns with the business plan investors are likely to continue to believe in the company. Just make sure the goals are reasonable or you’ll be discredited (unless you’re Elon Musk).

You did target market research before creating a business plan. Now it’s time to add it to the plan so others understand what your ideal customer looks like. As a new business owner, you may not be considered an expert in your field yet, so document everything. Make sure the references you use are from respectable sources. 

Use information from the specific lender when you are applying for lending. Most lenders provide industry research reports and using their data can strengthen the position of your business plan.

A small business plan should include a section on the external environment. Understanding the industry is crucial because we don’t plan a business in a vacuum. Make sure to research the industry trends, competitors, and forecasts. I personally prefer IBIS World for my business research. Make sure to answer questions like:

• What is the industry outlook long-term and short-term?
• How will your business take advantage of projected industry changes and trends?
• What might happen to your competitors and how will your business successfully compete?

Industry resources

Some helpful resources to help you establish more about your industry are:

• Trade Associations
• Federal Reserve
• Bureau of Labor Statistics

Legal Structure

There are five basic types of legal structures that most people will utilize:

• Sole proprietorships
• Limited Liability Companies (LLC)

Partnerships

Corporations.

• Franchises.

Each business structure has their pros and cons. An LLC is the most common legal structure due to its protection of personal assets and ease of setting up. Make sure to specify how ownership is divided and what roles each owner plays when you have more than one business owner.

You’ll have to decide which structure is best for you, but we’ve gathered information on each to make it easier.

Sole Proprietorship

A sole proprietorship is the easiest legal structure to set up but doesn’t protect the owner’s personal assets from legal issues. That means if something goes wrong, you could lose both your company and your home.

To start a sole proprietorship, fill out a special tax form called a  Schedule C . Sole proprietors can also join the American Independent Business Alliance .

Limited Liability Company (LLC)

An LLC is the most common business structure used in the United States because an LLC protects the owner’s personal assets. It’s similar to partnerships and corporations, but can be a single-member LLC in most states. An LLC requires a document called an operating agreement.

Each state has different requirements. Here’s a link to find your state’s requirements . Delaware and Nevada are common states to file an LLC because they are really business-friendly. Here’s a blog on the top 10 states to get an LLC.

Partnerships are typically for legal firms. If you choose to use a partnership choose a Limited Liability Partnership. Alternatively, you can just use an LLC.

Corporations are typically for massive organizations. Corporations have taxes on both corporate and income tax so unless you plan on selling stock, you are better off considering an LLC with S-Corp status . Investopedia has good information corporations here .

There are several opportunities to purchase successful franchises. TopFranchise.com has a list of companies in a variety of industries that offer franchise opportunities. This makes it where an entrepreneur can benefit from the reputation of an established business that has already worked out many of the kinks of starting from scratch.

How to Write a Business Plan Step 5. Products and Services

This section of the business plan should focus on what you sell, how you source it, and how you sell it. You should include:

• Unique features that differentiate your business products from competitors
• Intellectual property
• Your supply chain
• Cost and pricing structure 

Questions to answer about your products and services

Mike gave us a list  of the most important questions to answer about your product and services:

• How will you be selling the product? (in person, ecommerce, wholesale, direct to consumer)?
• How do you let them know they need a product?
• How do you communicate the message?
• How will you do transactions?
• How much will you be selling it for?
• How many do you think you’ll sell and why?

Make sure to use the worksheet on our business plan template .

How to Write a Business Plan Step 6. Sales and Marketing Plan

The marketing and sales plan is focused on the strategy to bring awareness to your company and guides how you will get the product to the consumer.  It should contain the following sections:

SWOT Analysis stands for strengths, weaknesses, opportunities, and threats. Not only do you want to identify them, but you also want to document how the business plans to deal with them.

Business owners need to do a thorough job documenting how their service or product stacks up against the competition.

If proper research isn’t done, investors will be able to tell that the owner hasn’t researched the competition and is less likely to believe that the team can protect its service from threats by the more well-established competition. This is one of the most common parts of a presentation that trips up business owners presenting on Shark Tank .

SWOT Examples

Examples of strengths and weaknesses could be things like the lack of cash flow, intellectual property ownership, high costs of suppliers, and customers’ expectations on shipping times.

Opportunities could be ways to capitalize on your strengths or improve your weaknesses, but may also be gaps in the industry. This includes:

• Adding offerings that fit with your current small business
• Increase sales to current customers
• Reducing costs through bulk ordering
• Finding ways to reduce inventory
•  And other areas you can improve

Threats will normally come from outside of the company but could also be things like losing a key member of the team. Threats normally come from competition, regulations, taxes, and unforeseen events.

The management team should use the SWOT analysis to guide other areas of business planning, but it absolutely has to be done before a business owner starts marketing. 

Include Competitor Data in Your Business Plan

When you plan a business, taking into consideration the strengths and weaknesses of the competition is key to navigating the field. Providing an overview of your competition and where they are headed shows that you are invested in understanding the industry.

For smaller businesses, you’ll want to search both the company and the owners names to see what they are working on. For publicly held corporations, you can find their quarterly and annual reports on the SEC website .

What another business plans to do can impact your business. Make sure to include things that might make it attractive for bigger companies to outsource to a small business.

Marketing Strategy

The marketing and sales part of business plans should be focused on how you are going to make potential customers aware of your business and then sell to them.

If you haven’t already included it, Mike recommends:

“They’ll want to know about Demographics, ages, and wealth of your target market.”

Make sure to include the Total addressable market .  The term refers to the value if you captured 100% of the market.

Advertising Strategy

You’ll explain what formats of advertising you’ll be using. Some possibilities are:

• Online: Facebook and Google are the big names to work with here.
• Print : Print can be used to reach broad groups or targeted markets. Check out this for tips .
• Radio : iHeartMedia is one of the best ways to advertise on the radio
• Cable television : High priced, hard to measure ROI, but here’s an explanation of the process
• Billboards: Attracting customers with billboards can be beneficial in high traffic areas.

You’ll want to define how you’ll be using each including frequency, duration, and cost. If you have the materials already created, including pictures or links to the marketing to show creative assets.

Mike told us “Most businesses are marketing digitally now due to Covid, but that’s not always the right answer.”

Make sure the marketing strategy will help team members or external marketing agencies stay within the brand guidelines .

This section of a business plan should be focused on pricing. There are a ton of pricing strategies that may work for different business plans. Which one will work for you depends on what kind of a business you run.

Some common pricing strategies are:

• Value-based pricing – Commonly used with home buying and selling or other products that are status symbols.
• Skimming pricing – Commonly seen in video game consoles, price starts off high to recoup expenses quickly, then reduces over time.
• Competition-based pricing – Pricing based on competitors’ pricing is commonly seen at gas stations.
• Freemium services –  Commonly used for software, where there is a free plan, then purchase options for more functionality.

HubSpot has a great calculator and blog on pricing strategies.

Beyond explaining what strategy your business plans to use, you should include references for how you came to this pricing strategy and how it will impact your cash flow.

Distribution Plan

This part of a business plan is focused on how the product or service is going to go through the supply chain. These may include multiple divisions or multiple companies. Make sure to include any parts of the workflow that are automated so investors can see where cost savings are expected and when.

Supply Chain Examples

For instance, lawn care companies  would need to cover aspects such as:

• Suppliers for lawn care equipment and tools
• Any chemicals or treatments needed
• Repair parts for sprinkler systems
• Vehicles to transport equipment and employees
• Insurance to protect the company vehicles and people.

Examples of Supply Chains

These are fairly flat supply chains compared to something like a clothing designer where the clothes would go through multiple vendors. A clothing company might have the following supply chain:

• Raw materials
• Shipping of raw materials
• Converting of raw materials to thread
• Shipping thread to produce garments
• Garment producer
• Shipping to company
• Company storage
• Shipping to retail stores

There have been advances such as print on demand that eliminate many of these steps. If you are designing completely custom clothing, all of this would need to be planned to keep from having business disruptions.

The main thing to include in the business plan is the list of suppliers, the path the supply chain follows, the time from order to the customer’s home, and the costs associated with each step of the process.

According to BizPlanReview , a business plan without this information is likely to get rejected because they have failed to research the key elements necessary to make sales to the customer.

How to Write a Business Plan Step 7. Company Organization and Operational Plan

This part of the business plan is focused on how the business model will function while serving customers.  The business plan should provide an overview of  how the team will manage the following aspects:

Quality Control

• Legal environment

Let’s look at each for some insight.

Production has already been discussed in previous sections so I won’t go into it much. When writing a business plan for investors, try to avoid repetition as it creates a more simple business plan.

If the organizational plan will be used by the team as an overview of how to perform the best services for the customer, then redundancy makes more sense as it communicates what is important to the business.

Quality control policies help to keep the team focused on how to verify that the company adheres to the business plan and meets or exceeds customer expectations.

Quality control can be anything from a standard that says “all labels on shirts can be no more than 1/16″ off center” to a defined checklist of steps that should be performed and filled out for every customer.

There are a variety of organizations that help define quality control including:

• International Organization for Standardization – Quality standards for energy, technology, food, production environments, and cybersecurity
• AICPA – Standard defined for accounting.
• The Joint Commission – Healthcare
• ASHRAE – HVAC best practices

You can find lists of the organizations that contribute most to the government regulation of industries on Open Secrets . Research what the leaders in your field are doing. Follow their example and implement it in your quality control plan.

For location, you should use information from the market research to establish where the location will be. Make sure to include the following in the location documentation.

• The size of your location
• The type of building (retail, industrial, commercial, etc.)
• Zoning restrictions – Urban Wire has a good map on how zoning works in each state
• Accessibility – Does it meet ADA requirements?
• Costs including rent, maintenance, utilities, insurance and any buildout or remodeling costs
• Utilities – b.e.f. has a good energy calculator .

Legal Environment

The legal requirement section is focused on defining how to meet the legal requirements for your industry. A good business plan should include all of the following:

• Any licenses and/or permits that are needed and whether you’ve obtained them
• Any trademarks, copyrights, or patents that you have or are in the process of applying for
• The insurance coverage your business requires and how much it costs
• Any environmental, health, or workplace regulations affecting your business
• Any special regulations affecting your industry
• Bonding requirements, if applicable

Your local SBA office can help you establish requirements in your area. I strongly recommend using them. They are a great resource.

Your business plan should include a plan for company organization and hiring. While you may be the only person with the company right now, down the road you’ll need more people. Make sure to consider and document the answers to the following questions:

• What is the current leadership structure and what will it look like in the future?
• What types of employees will you have? Are there any licensing or educational requirements?
• How many employees will you need?
• Will you ever hire freelancers or independent contractors?
• What is each position’s job description?
• What is the pay structure (hourly, salaried, base plus commission, etc.)?
• How do you plan to find qualified employees and contractors?

One of the most crucial parts of a business plan is the organizational chart. This simply shows the positions the company will need, who is in charge of them and the relationship of each of them. It will look similar to this:

Our small business plan template has a much more in-depth organizational chart you can edit to include when you include the organizational chart in your business plan.

How to Write a Business Plan Step 8. Financial Statements 

No business plan is complete without financial statements or financial projections. The business plan format will be different based on whether you are writing a business plan to expand a business or a startup business plan. Let’s dig deeper into each.

Provide All Financial Income from an Existing Business

An existing business should use their past financial documents including the income statement, balance sheet, and cash flow statement to find trends to estimate the next 3-5 years.

You can create easy trendlines in excel to predict future revenue, profit and loss, cash flow, and other changes in year-over-year performance. This will show your expected performance assuming business continues as normal.

If you are seeking an investment, then the business is probably not going to continue as normal. Depending on the financial plan and the purpose of getting financing, adjustments may be needed to the following:

• Higher Revenue if expanding business
• Lower Cost of Goods Sold if purchasing inventory with bulk discounts
• Adding interest if utilizing financing (not equity deal)
• Changes in expenses
• Addition of financing information to the cash flow statement
• Changes in Earnings per Share on the balance sheet

Financial modeling is a challenging subject, but there are plenty of low-cost courses on the subject. If you need help planning your business financial documentation take some time to watch some of them.

Make it a point to document how you calculated all the changes to the income statement, balance sheet, and cash flow statement in your business plan so that key team members or investors can verify your research.

Financial Projections For A Startup Business Plan

Unlike an existing business, a startup doesn’t have previous success to model its future performance. In this scenario, you need to focus on how to make a business plan realistic through the use of industry research and averages.

Mike gave the following advice in his interview:

Financial Forecasting Mistakes

One of the things a lot of inexperienced people use is the argument, “If I get one percent of the market, it is worth $100 million.” If you use this, investors are likely to file the document under bad business plan examples.

Let’s use custom t-shirts as an example.

Credence Research estimated in 2018 there were 11,334,800,000 custom t-shirts sold for a total of $206.12 Billion, with a 6% compound annual growth rate.

With that data,  you can calculate that the industry will grow to $270 Billion in 2023 and that the average shirt sold creates $18.18 in revenue.

Combine that with an IBIS World estimate of 11,094 custom screen printers and that means even if you become an average seller, you’ll get .009% of the market.

Here’s a table for easier viewing of that information.

The point here is to make sure your business proposal examples make sense.

You’ll need to know industry averages such as cost of customer acquisition, revenue per customer, the average cost of goods sold, and admin costs to be able to create accurate estimates.

Our simple business plan templates walk you through most of these processes. If you follow them you’ll have a good idea of how to write a business proposal.

How to Write a Business Plan Step 9. Business Plan Example of Funding Requests

What is a business plan without a plan on how to obtain funding?

The Small Business Administration has an example for a pizza restaurant that theoretically needed nearly $20k to make it through their first month.

In our video, How to Start a $500K/Year T-Shirt Business (Pt. 1 ), Sanford Booth told us he needed about $200,000 to start his franchise and broke even after 4 months.

Freshbooks estimates it takes on average 2-3 years for a business to be profitable, which means the fictitious pizza company from the SBA could need up to $330k to make it through that time and still pay their bills for their home and pizza shop.

Not every business needs that much to start, but realistically it’s a good idea to assume that you need a fairly large cushion.

Ways to get funding for a small business

There are a variety of ways to cover this. the most common are:

• Bootstrapping – Using your savings without external funding.
• Taking out debt – loans, credit cards
• Equity, Seed Funding – Ownership of a percentage of the company in exchange for current funds
• Crowdsourcing – Promising a good for funding to create the product

Keep reading for more tips on how to write a business plan.

How funding will be used

When asking for business financing make sure to include:

• How much to get started?
• What is the minimum viable product and how soon can you make money?
• How will the money be spent?

Mike emphasized two aspects that should be included in every plan, 

How to Write a Business Plan Resources

Here are some links to a business plan sample and business plan outline. 

• Sample plan

It’s also helpful to follow some of the leading influencers in the business plan writing community. Here’s a list:

• Wise Plans –  Shares a lot of information on starting businesses and is a business plan writing company.
• Optimus Business Plans –  Another business plan writing company.
• Venture Capital – A venture capital thread that can help give you ideas.

How to Write a Business Plan: What’s Next?

We hope this guide about how to write a simple business plan step by step has been helpful. We’ve covered:

• The definition of a business plan
• Coming up with a business idea
• Performing market research
• The critical components of a business plan
• An example business plan

In addition, we provided you with a simple business plan template to assist you in the process of writing your startup business plan. The startup business plan template also includes a business model template that will be the key to your success.

Don’t forget to check out the rest of our business hub .

Have you written a business plan before? How did it impact your ability to achieve your goals?

80% of businesses fail... Learn how not to.

Learn from business failures and successes in 5 min or less. The stories, frameworks, and tactics that will make you a 10x better founder.

Brandon Boushy

Related articles

House Cleaning Pricing Guide (2024)

What kind of house cleaning services should I provide?

• Airbnb Cleaning
• Carpet Cleaning
• Disinfecting Service
• Home Cleaning
• Move-In Cleaning
• Deep Cleaning
• Move-Out Cleaning
• Office and Commercial Cleaning
• Dusting all furniture, walls, fans, counters, and other hard surfaces
• Vacuuming all floors 
• Mopping wood, marble, tile, and linoleum floors
• Mirror and window cleaning with a glass cleaner
• Cleaning and sanitizing all bathroom surfaces including toilets, sinks, tubs, and showers
• Sanitizing all kitchen surfaces including inside the microwave and the front of the fridge
• Spot-cleaning cabinets
• Changing linens (if fresh linen is left out) and making beds
• Emptying the trash and relining the trash can before exiting each room

What should I include in Airbnb cleaning services?

What should i include in carpet cleaning services, what should i include in disinfecting services, what should i include in deep cleaning services, how much does a deep clean cost, what should i include in a move-out cleaning service.

• Thoroughly cleaning all counters, cabinets, and appliances
• Cleaning bathrooms, including toilets, sinks, and showers
• Cleaning floors and carpets
• Wiping down light switches, walls, and doorknobs
• Disposing of any expired food items
• Deep-cleaning the oven

What should I include in office and commercial cleaning?

• Square footage
• Number of desks
• Percent of floors that are carpet and tile
• Number of windows
• Number of toilets and sinks
• Square footage of counters
• Kitchens in the building
• Parking lots
• Special requirements

• Payroll expenses, taxes
• Marketing costs
• Cleaning supplies
• Professional fees

How labor impacts the house cleaning price

• Employee pay: $15 per hour
• Employee hourly rate, revenue: 50%
• Number of people on cleaning crew: two

Payroll Expenses, Taxes

• Income taxes : You’ll need to withhold these for all employees using the information in Publication 15-T .
• Payroll taxes : The employee pays 7.65%, and the employer pays 7.65%.
• State taxes : There are seven states without income taxes . You’ll have to collect these from employee pay unless you live in Alaska, Florida, Nevada, South Dakota, Texas, Washington, or Wyoming.
• Other Deductions : Insurance, 401K, etc., will be deducted if you offer them.

Cleaning Supplies

Vehicle, fuel, insurance, and repairs, marketing and administration costs.

Professional Fees

Ways to charge for a cleaning service.

• Charging by the hour
• Pricing per square foot
• Pricing per room 
• Comparing house cleaning prices in your area
• Offering weekly cleaning subscriptions with discounts
• Proposing household chores as add-ons
• Giving free estimates

1. How much per hour should I charge for cleaning?

• 2,000 hours per year
• 65% profit margin when you are the worker or 15% when someone else is doing the work
• Your income goals (let’s say $100K per year to start)

2. How to calculate cleaning cost per square foot pricing?

3. how much to charge for house cleaning per room.

• 1 to 10 room pricing
• Full restroom pricing
• ½ restroom pricing
• Add-ons like full window cleaning

4. How much do cleaning services charge?

5. Offer weekly cleaning service discounts

• Increased efficiency : Less travel time, more cleaning jobs completed per day, reduced house cleaning costs.
• Better forecasting: Order your own cleaning supplies with more accurate forecasts.
• Better scheduling : You can schedule house cleaners working each day more effectively.
• Better cash flow : The more of your cleaning jobs that occur on a recurring basis, the better your cash flow will be.
• Reduces churn : CB Insights says that subscription models change the customer retention dynamic from mostly churning to mostly retention.
• Increases lifetime value : The value of a customer increases consistently over time.
• Less marketing costs : Your cleaning company will be able to spend less on marketing when you have higher retention rates.
• Lower overhead, revenue ratio : As a cleaning company's recurring jobs grow, the overhead stays the same until you have to invest in more equipment or administration.
• Happier customers : Everyone (except maybe hoarders) loves a clean home! Someone coming in each week and cleaning their home will delight customers.

6. Propose household chores as add-ons 

• Deep house cleaning
• Appliance cleaning
• Indoor and outdoor window washing
• Carpet cleaning

7. Don’t forget to give free estimates!

8. sign up for the course “the 7-figure cleaning business blueprint”.

How to Start a $24K/Month Laundromat Business (2024)

Did you know the average laundromat makes over $238K, and up to half of that can go to the laundromat owners?

The laundromat industry in the U.S. is worth $5BN, with over 21,000 businesses in operation that employ over 50,000 people.

Do I have your attention? If I do, get ready to learn how to start a laundromat!

We have interviewed the owners of four different laundromat businesses, including Dave Menz, the CEO of Queen City Laundry, who owns four laundromats and makes over $1.8 million annually.

Dave will share his wisdom on finding a laundromat, getting financing, how to value the business, and how to negotiate a deal. We pull in insights from other successful laundromat owners, too. Get ready to learn how to start a laundromat.

[su_note note_color="#dbeafc"]

Case Study: Queen City Laundry

Learn about the laundry industry, step 1: choose a business model, step 2: write a business plan, step 3: build relationships with distributors, step 4: get financing, step 5: find a location, step 6: get permits and insurance, step 7: set up your business, step 8: develop a marketing strategy.

• Final Remarks About Laundromat Businesses [/su_note]

Dave Menz got into the laundry business in 2010. He told us:

[su_quote] I grew up in poverty and people looking down at me. I fought out of poverty to middle class and then financial independence. I could do nothing if I wanted to, but I prefer to teach people to reach that same level. [/su_quote]

He bought his first laundromat and worked at it on nights and weekends. He bought two more before he made enough that he could quit his job and still live a comparable life. Dave told us:

[su_quote] I don’t love doing laundry, but I love the industry. I love the people, the impact on my community, and the opportunities it provides.

The laundromat industry is not for everyone, but for many it can be a phenomenal business. I see the antiquated nature of the industry as a positive because it makes it easy for you to stand out compared to a coin laundry business. [/su_quote]

His primary services are:

• Self-serve laundry
• Drop-off wash and fold
• Dry cleaning
• Pickup and delivery laundry
• Commercial laundry services

Since starting, Dave has bought four more laundromats. When he buys laundromats, he looks for locations he can fix up that offer services he can improve on to make them more appealing to local clients.

Dave maintains one company that owns the land his laundromats are on. This separate company rents the land to his laundromats, effectively making him his own landlord. This unique strategy has built him a $3.8 million net worth and makes him over $1.8 million in revenue per year. Find out how below:

He’s currently working on upgrading from coin machines to accepting cards and PhonePay in addition to the other services he offers.

Have you ever found yourself wondering how much money a laundromat makes? Or Is the average laundromat cost something I can afford?

Dave told us:

[su_quote] Laundromats are a vital community resource. That’s really why I fell in love with the business. [/su_quote]

Established organizations provide the information you need. Keep reading to find places that conduct market research and provide market analysis.

Check out the free industry overview by the Coin Laundry Association (CLA) . Also, download their most recent Laundry Industry Survey and Laundry Customer Profile, which presents the results of over 400 customer surveys.

For commercial laundry, the Textile Rental Services Association (TRSA) offers benchmarking reports . Don’t overlook the National Apartment Association (NAA), which provides insight into the industry’s multi-housing segment.

How much do laundromats make?

When you open a laundromat, you should assume that it will make around $300K in revenue annually. You can add additional sources of revenue by adding vending machines , laundry delivery, and other services.

[su_quote] Almost everything is paid upfront before services are provided. This makes running the business easier because you don’t have to chase customers for payment.

Businesses focus on [repairs] and collecting the money from a coin laundry machine. You can reimagine this to save you time, money, and help your customers better.

The laundromat business is not passive income, but semi-passive or flexible. [/su_quote]

Of course, emergencies are bound to occur if all you do is fix things when they’re broken. Take proactive steps to keep your laundromat running smoothly, and you’ll find yourself on the road to laundromat success.

One of Dave’s recommendations: Add an annual sewage drain flush to your maintenance routine to reduce breakdowns.

He does that for all his laundromats, and listen to what happened:

[su_quote] We were looking for a consolidation loan and were putting all the financials together, and I realized I am a millionaire. [/su_quote]

Inspired? Get ready to learn about laundromat profitability.

Are laundromats profitable?

According to Cents , the average U.S. laundromat profitability is 20 to 30% on approximately $300K in revenue assuming they are not using leverage. According to Dave, top-performing laundromats can operate with 50% margins or higher. That's two to eight times higher than the average real estate investment, which is 7 to 10%.

A laundromat's ROI changes depending on:

• Age of Machines: As washers and dryers age, maintenance costs increase.
• Business Expenses: Rent, water, gas, electric, and inventory can easily add up to $10K per month.
• Competition: The less competition you have, the more your new laundromat can charge. Adding full-service makes it so you can charge more.
• Location: Like home mortgages, a new laundromat will cost more to operate in places with higher property values.
• Pricing: While a coin laundromat might charge between $1.50 and $4 a wash, you can charge by the pound when people pay for full-service washing and drying.
• Services Offered: Providing services like full-service washing, drying, and delivery can increase revenue and reduce the employee costs as a percentage.
• Employees’ Pay: Even at minimum wage, payroll is the largest expense for most laundromat owners.
• Local Taxes: Local and state sales taxes can be up to 13% .

Ancillary services like dry cleaning, pickup and delivery, sneaker cleaning, wash and fold, and other luxury services can increase your profitability .

Rosie Wash Express Laundry achieves impressive 36% margins by offering additional services and a rewards program. Want to learn more? Check out our interview with the existing laundry business owner.

How much does a laundromat cost?

Entrepreneurs normally spend between $100,000 and $1,000,000 to start a new laundromat or buy a laundry business for sale.

Dave suggests that you should normally spend between two and five times revenue, but that you should base your business valuation on what it’s worth to you.

The startup costs to open a laundromat depend on:

• Size: Small laundromats will normally cost less than $300K, while larger laundry facilities will cost $500K or more.
• Equipment: The number of machines, capacity, and age will impact the price of a laundromat.
• Services: The startup costs will vary depending on whether you offer other services. An old store with no customers is worth less than one with a great customer base.
• Location: Every city has different property costs.
• Buy vs. Build: Buying an existing laundromat will normally have less startup costs than building a new laundry business. You’ll also earn revenue faster, which should reduce the overall startup costs.
• Future Operational Costs: You should include a budget of approximately $15K monthly for future operating expenses, loan payments, rent, and maintenance.

Where is the best place to put a laundry business?

The best location for a laundry business will have the following characteristics:

• Population Density: Laundromats do best in areas where there are at least 20K to 35K people in a one-mile radius.
• Low-Income Neighborhoods: Locations near apartments, colleges, low-income housing, and trailer parks tend to do better because low-income families often need to use a coin-operated business.
• Accessibility: You’ll want a location that is easily accessible by car, bus, or foot. Signage should be easily viewable and parking abundant.
• Low Competition: Lots of competition means lower profit margins and potential price wars.
• Good Neighbors: Businesses like auto part stores, cash checking, convenience stores, and grocery stores are good neighbors for laundromats because they provide lots of traffic that might need your services.

Get ready to learn step by step how to start a laundry business.

How to Start a Laundromat

Starting a laundromat means you’ll need to

• Choose a business model.
• Write a business plan.
• Build relationships with distributors.
• Get financing.
• Find a location.
• Get permits and insurance.
• Set up your business.
• Develop a marketing strategy.

First, you’ll need to pick a laundry business type, which means selecting your services, business structure, and business model.

Consider the different kinds of laundromat businesses:

• Coin laundry
• Private laundromat equipment for multi-tenant buildings
• Wash-and-fold service
• Commercial laundry for uniforms, linens, and facilities
• Pickup and delivery

Learn about each type of laundry service below.

Self-service coin laundry business

When you want to start a laundry business, you’ll find most business entities offer coin-operated machines that people operate themselves. A business venture that focuses on this strategy is normally going to have the lowest profit margin of companies that clean clothes.

That said, at Ferndale Laundry, the most revenue comes from self-serve machines. Owner Justin says:

[su_quote] There’s little to no maintenance or cost to me because they’re doing all the work. [/su_quote]

Check out our interview with Justin below.

You might also check out this video about a day in the life of a laundromat business owner.

Dry cleaning business

A dry cleaning business uses completely different laundry machines than standard washers and dryers. Dry cleaners normally charge by the garment. Common dry cleaning prices range from:

• Shirts : $2.99 to $8 • Pants: $6 to $11.99 • Sweaters: $7.50 to $12.99 • Dresses : $13.25 to $19.99 • Suits: $14.99 to $25.95 • Coats: $15 to $25.99 • Comforters : $18.99 to $42.99

Wash and fold service

Owning a laundromat that offers wash and fold services can be highly beneficial. It improves your customer experience because they can drop off their clothes on the way to work and pick them up on the way home.

Laundromat prices will normally be based on the pound. That means you make more money per wash and protect your machines by not overloading them, which saves your business entity from increased maintenance costs.

Commercial laundry facility

A commercial laundry facility provides uniforms and other items to service companies and hotels, picks up dirty uniforms and sheets, and washes them. This is highly profitable because you make money from both the rental of clothing and the cleaning.

Check out Cintas’s website for an example of commercial laundry and uniform company offerings.

Laundromat service for apartment complexes

Whether you choose to operate a coin laundry business or laundromat equipment rental business, you can make money by supplying quality equipment to apartment complexes. Check out information about multi-unit housing on NAA’s website.

Delivery service

Rosie Wash Express Laundry uses an app to manage its home delivery business, allowing customers to enter details and pay online. Delivery drivers receive GPS information to complete their routes.

Pro Tip: Get more information about owning a pickup-and-delivery business here .

Choose a business structure

In addition to deciding what kind of laundry services you’ll offer, you need to create a business entity for your laundromat. This requires selecting a business name that is available as a website domain, trademark, and social media handle.

The two most common ways to create a business entity are a limited liability company (LLC) or a corporation. There are other types of business entities you might want to consider, but most involve potential liability you don’t want to assume.

Both LLCs and corporations limit your potential losses to the initial investment as long as you don’t sign anything guaranteeing personal liability. You can also run both on your own or with business partners.

Dave uses numerous business structures to manage his business, including LLCs and land-rent agreements between his company that owns the land and his companies that own the laundromat.

Pro Tip : Learn how to register your business and how to get an employer identification number (EIN) from the IRS .

This plan should outline your strengths, competitors, goals, and workflow. A good plan can help you attract investors or earn grants.

Iron out your vision, objectives, and strategy into a laundromat business plan that will help you accomplish essentials like securing financing or partnering with other businesses. It’s totally worth your time.

Pro Tip: If you want some extra guidance on how to write a business plan that will appeal to investors, consider working with a company like Wise Business Plans , whose team of MBA-trained writers have experience writing business plans that successfully secure funding from banks and other lenders.

Dave told us that relationships with his distributors contribute to nearly 50% of his success. Some of the most common types of distributors are:

• Fly-by-Night Distributors: Laundromat owners who are doing it because their own distributor was bad. They may work from home and play middleman. They only work with small groups of manufacturers and normally deal with bad customers.
• Plain Janes: They are more established but they just do the bare minimum. They are typically very nice but don’t add much value to the industry.
• Rock Star Distributors: These professionals get you access to an extensive infrastructure and are well-established with a major building and service department. They normally have company vehicles that are branded and fully stocked. You’ll also have access to a full parts department with technicians who can predict problems based on your description of the issue you’re facing. They will train you as a laundry business owner and work with manufacturer reps. Plus, they’ll have a professional installation department.

But how do you find the best distributors? Do a Google search, contact manufacturers, or network with people . After you’ve found a prospective distributor, you’ll want to talk to them on the phone then visit their location.

You'll need money to cover leasing or buying a space, hiring employees, and buying equipment. Getting into the laundromat business isn’t cheap. You’ll want to estimate how much you need to start and operate the business, which you can learn how to do through Udemy .

Once you’ve established how much money you’ll need, you have to find a way to get the money. Some common funding options include:

• Self Financing: If you have a cool $1M lying around, you can open a laundrymat with your own money. Most people don’t have that much, though.
• Equipment Loan: You can secure an equipment loan with the equipment when you start or buy a laundromat. Learn more in our blog about business loans .
• Rollover Business Startup: Create a corporation and a 401K, then sell your shares of the corporation to your 401K. Use the proceeds for buying a laundromat or starting a laundromat business.

The Small Business Administration (SBA) offers free courses on financing options and funding programs . Consider alternative sources of funding, like crowdfunding or even a home equity loan.

Many small business owners finance their investment at least partially through a business loan. You can inquire about financing options with your business banker, or compare options from multiple lenders on National Business Capital .

You can find a range of financing options on their site, including term loans with flexible financing and business lines of credit. Many of these have no credit score requirement, either, so you can access funds for your business regardless of your personal financial situation.

Pro Tip: Want to know how to open a laundromat with no money? Check out our blog about seller financing to find out how.

Fact: 87% of laundromat customers live within one mile of their preferred location.

Taking the time to find an ideal location is the best investment of your time as a future laundromat owner.

Consider a location near any of the following:

• Apartment buildings
• College students
• Tourist areas
• Hotels and motels
• Large family housing developments

Dave offers some suggestions on how to find a business location in your local market, including:

• Check business listings.
• Network, talk to distributors, and use business brokers.
• Compile a list of attractive locations.
• Visit the locations.
• Value the business.

Self-serve laundromats are normally in small towns or outskirts of suburban areas, under 5,000 square feet, and unmanned. Large laundromats are typically over 5,000 square feet and in busy areas.

High-volume laundromats with lots of ancillary laundry locations are the biggest and largest laundry businesses and normally have four or five streams of revenue that diversify their income.

The CLA offers more information about site selection for a laundromat business.

Once you have found a strategic location, there are things to do before you open to customers. You’ll need to get business licenses, a state tax ID or sales tax permit, and relevant insurance. Some common types of insurance include general liability, commercial property, workers compensation, and crime insurance.

Licenses, permits, and tax forms

Regardless of the legal structure you choose, determine if your business may require any licenses, permits, or tax forms to operate legally. Use the SBA’s tool . Also, you might be required to collect sales tax. Now go out and do it!

Business insurance

During his first week of operations, Jeff, the owner of Rosie Wash Express Laundry, witnessed a customer fall down, crack his head on the floor, and start bleeding. Hopefully, that shows why every laundromat owner needs commercial property insurance and liability insurance.

Both will typically be included in small business general liability insurance that you can get from trusted providers like Simply Business . Even if you have an insurance provider you trust for your personal property, it’s a smart move to work with a company that specializes in small businesses for your laundromat.

Furthermore, if you plan to hire employees, you will need workers compensation insurance and unemployment insurance. Gain general knowledge about insurance for a small business here .

You can also check out CLA’s listing of insurance products that meet the specific needs of a coin-operated laundry business .

Get a business bank account and credit card, and purchase equipment. You'll also need to set up software and prepare marketing materials.

Get a business bank account

Whether you start a new laundromat or buy an existing laundromat, you’ll need a business bank account. You can get a business bank account from major banks, regional banks, or online banks.

Regional banks tend to provide better business loans, but online banks offer better interest rates on cash in your bank account. Learn more about business bank accounts .

Get a business credit card

A business credit card can help fund your laundromat startup cost. You may have to get a secured one at first.

Purchase equipment

You’ll need washers, dryers, and other equipment for your laundromat. This equipment is a major part of the cost to open a laundromat.

Expect to spend between $1K and $5K each for a commercial washer or dryer. Meanwhile, industrial washers and dryers can cost between $10K and $50K depending on the load size and power.

The machines’ capacity can range from 30 to 80 pounds. To learn more, check out this handy formula for calculating the capacity of a machine .

Dave explains that you want to find properties with value-add opportunities. Look at the space usage, the amenities you can add, the services you can add, and how the property can be upgraded to provide a different or better experience. He told us:

[su_quote] We turned a $500-per-week property into a $7,000-per-week business by making changes. [/su_quote]

As you’re shopping and pricing, consider that new equipment comes with a warranty. Read a white paper about replacing laundry equipment . Buy the right laundry equipment for your store by referring to the laundry equipment and services directories .

You might also want to include vending machines or a small convenience store in your laundromat to supplement income.

Technological innovations are fueling a revival of the laundry industry. Laundry apps are becoming increasingly popular, but what’s the bottom line?

• Dexter Pay: According to its website, Dexter Pay is an app “that allows laundry customers to pay for their laundry and track cycle progress via their smartphone or mobile device.”
• Speed Queen Value Center: Speed Queen is a popular laundromat equipment manufacturer that offers an app for cash users. Customers add physical cash to the value center machine, which uploads it to their payment app.
• Accounting Software: Keep track of income and expenses and run regular reports to understand how your laundromat business performs. Try accounting software such as Xero or QuickBooks .

You can attract customers with a good location, but you can optimize that even further with marketing such as a website, social media, and advertisements.

Dave explains that you’ll want to invest in

[su_quote] A market differentiator that makes your laundry business stand out against [its] competitors. [/su_quote]

He says some of the things that make a difference include:

• Clean bathrooms
• Air conditioning
• Payment systems
• Other services

You can use all of these to market your business and stand out in the laundromat industry. Provide a value proposition, charge more, and market the differences without putting your competitors down.

Digital marketing

Digital marketing includes email newsletters, social media, and search engine optimization (SEO).

Google My Business helps you:

• Track the number of visitors and impressions.
• Determine where visitors see an advertisement based on a code.
• Know if a new customer is the result of a conversion from your marketing campaign.

Facebook is another great site for marketing your business.

Another pro tip is to invest in an all-in-one marketing software like Semrush . The Site Audit tool demystifies search engine optimization for new business owners, while their Keyword Magic tool can save you tons of time on keyword research. Using this type of program also makes it much easier to track marketing campaigns across multiple platforms to ensure you’re getting the full value from the time and money you spend.

Printed materials

Print marketing includes business cards, flyers, brochures, t-shirts, and even uniforms! Try designing yours in Canva .

You might also run advertisements in local newspapers, or ValPack mailers, which reach 10K residents for $300 a month on a five-month subscription.

Attracting customers

Consider offering extra amenities, such as Wi-Fi. CLA published a guide to help laundry owners through the basics of setting up a secure network .

Other ways to create a welcoming atmosphere include cleanliness, professionalism, a children’s area, and televisions.

Final Remarks About Laundromat Businesses

We’ve discussed the coin laundry industry, startup and monthly cost to run a laundromat, and how to start a laundromat business. Along the way, we provided information on how to craft a great laundromat business plan, getting a business license, financing, choosing locations, and marketing your laundromat.

It’s up to you to decide whether you want to start a new laundromat or buy a laundromat for sale. What strategies will you use to take your laundromat business idea to the next level?

31 Best Low-Cost Franchise Opportunities (For 2024)

Franchises are a great way to start a new business, since they already have the business systems in place. But that initial franchise fee can really limit the options business owners have. Don’t worry! We’ve found 31 low-cost franchises to get you started as a business owner.

We’ve interviewed some amazing franchisors and franchisees like Brandon Vaugh and Mike Andes. Brandon started Wise Coatings and quickly built it into a system that works for other business owners. Mike’s story is even more amazing! Find out why!

[su_note note_color="#dbeafc"] Click on any of the headings to find out what are cheap franchises to start.

Best Low-Cost High-Profit Franchises

• What Is the Cheapest Franchise Available?

What Is the Cheapest, Most Profitable Franchise to Own?

Lowest initial investment: cheap franchises under $1,000 franchise fee, cheap franchises under $5,000 franchise fee, what franchise can you open for $10000, cheap franchises for $10k or less franchise fee, cheap franchises: restaurant franchise businesses, best low cost franchises 2024, low cost franchise: online business.

We’ve narrowed down the low cost franchises with high profit to:

• Wise Coatings
• American Business Systems
• Healthy YOU Vending 

Find out why these outperform most franchises!

#1. Wise Coatings

•  Franchise fee:  $50,000 •  Initial investment:  $117,400-$160,000 •  Royalty fees:  5% •  Average annual sales (company-wide):  $5.1 million  •  No. of U.S. franchises:  7

Wise Coatings is the nation’s leading concrete floor coating company and one of the best franchises to buy for new business owners looking for a turnkey business for sale in the home services industry. Our YouTube interview with Wise Coatings founder Brandon Vaughn can give you more insights about how to run a successful franchise and the typical day-to-day of a concrete flooring business owner.

[su_youtube url="https://www.youtube.com/watch?v=q6mghjqijuU"]

While their franchise fee is on the higher side compared to other options on this list, they have in-house financing options available, and that fee comes with extensive training and support from their corporate office.

#2. American Business Systems

•  Franchise fee: $28,990 •  Initial investment: $28,990 •  Royalty fees: $0 •  Average annual sales (company-wide): $5.9 million •  No. of U.S. franchises: 450

American Business Systems is the largest independent medical billing company in the United States and one of the best low cost franchise options for entrepreneurs interested in the healthcare industry. The initial franchise fee is all-inclusive, covering the extensive training program, lifetime 24/7 phone support, and all the marketing and tools to support their 12 income-generating services. Most franchise owners break even in less than a year with a single client or earn a 6-figure income with 4-5 clients, making it one of the most profitable franchises you can run from home. 

#3. Proforma

•  Franchise fee:  $34,500 •  Initial investment:  $44,030-$59,695 •  Royalty fees:  5-8% •  Average annual sales (company-wide):  $407.4 million •  No. of U.S. franchises:  682

Promotional products are a $150 billion industry, and Proforma is the leading franchise in this space. It can be operated from a home or leased office, and the fact that you don’t need a brick-and-mortar storefront earns its place on our list of low cost franchises. The initial franchise fee includes technology, training, and a startup kit. The Proforma Success System gives franchisees all the tools they need to plan and scale their business, with a worldwide support center and coaches for ongoing help. 

#4. Healthy YOU Vending

•  Franchise fee:  $55,000 •  Initial investment:  $55,000-$185,000 •  Royalty fees:  $0 •  Average annual sales (company-wide):  $6 million •  No. of U.S. franchises:  1,800

If you want to be your own boss without spending all your time at work, Healthy YOU Vending is one of the best franchises to own. The higher initial investment amount is balanced by the lack of ongoing royalties, meaning your profits are all yours. That investment comes with an established brand and high customer demand for a healthier vending option. This makes Healthy YOU Vending a great way to get franchise owner support while earning passive income. 

Start Vending Without a $55K Initial Franchise Fee!

Check out our Vending Machine Blueprint and learn how to make over $60K each month with machine vending.

#5. MaidThis

MaidThis is a remote cleaning franchise company started by Neel Parekh in 2013 and today it has 17 franchisees. The company makes over $166K per month.

•  Franchise Fee : $39,000 •  Total Investment : $50,400-$72,650 •  Royalty Fee:  7% •  Space Needed : 100-2,000 square feet •  Employees : Work it yourself or hire employees.  •  Territories : You can buy more than one territory if they are available in your area. •  Franchising Funding Assistance : Yes, through third party financing services.

Learn more about the remote cleaning business franchise below.

#6. SprayNet

#6. spray-net.

Spray-Net's  approach to residential painting narrows it down to a science and speeds up the process. The company currently has just 40 franchisees and its process is patented, meaning it’s totally unique and can’t be offered by any other painter or home improvement company.

•  Franchise Fee : $45,000 •  Total Investment : $170,825-$241,825 •  Royalty Fee: 8% •  Space Needed : 100-2,000 square feet •  Employees : Hire employees or subcontractors to do the cleaning.  •  Territories : You can buy more than one territory if they are available in your area. •  Franchising Funding Assistance : Yes, through third party financing services.

Learn more about starting a painting franchise below.

What Is the Cheapest Franchise Available? 

If you’re looking for the absolute cheapest franchise to start, look no further—we’ve found it for you. In fact, it’s one of four cheap franchises under $1000. Keep reading to find out if Dream Vacations is for you.

#7. Dream Vacations

•  Franchise cost:  $495-$10,500 •  Initial investment:  $1,795-$21,000 •  Royalty fees:  1.5-3% •  Average annual sales (company-wide):  $7.3 million •  No. of U.S. franchises:  1,618

Run by the parent company World Travel Holdings, Dream Vacations is the #1 home-based travel franchise. Not only is it among the cheapest franchises to start, its low ongoing costs make it arguably the cheapest franchise to own, period. Dream Vacations also offers some of the best discounted investment prices for veterans, including 30% off the Dream Vacations franchise fee and waived training fees for military veterans and their spouses. 

You’ll love this next one! They have multiple ways to pay franchise fees, an amazing founder, and are a franchise for $10K in revenue in your first two months. 

#8. Augusta Lawn Care Services

•  Franchise fee:  $6,999-$25,000 •  Initial investment:  $12,999-$82,500 •  Royalty fees:  $699-$1,200/month •  Average annual sales (company-wide):  $6.7 million •  No. of U.S. franchises:  92

The lawn care and landscaping industries are ideal for first-time entrepreneurs because you don’t need special skills or years of experience to get started. Augusta Lawn Care Services makes it even easier with their low cost franchises. The profit potential is high with 93% of franchisees earning more than $10K franchise revenue within 60 days, and an average monthly revenue of over $37,000 across all locations. 

Check out our interview with Mike below.

Wondering How to Buy a Franchise with No Money?

Mike has a franchise for small business hopefuls where you can get a franchise for sale by going to work for an Augusta Lawn Care Franchise for two years. His flat rate franchise fees are a rarity when you compare franchises for sale. Check out the three-part series where we follow one of the franchise owners who started by working for Mike.

Find out how to buy a franchise in greater detail or keep reading for more opportunities for franchising a business.

Franchising a small business doesn’t have to be expensive. Keep reading for low franchise fees. You can even find cheap franchises under $10,000 all-in!

#9. Cruise Planners

•  Franchise fee:  $695-$10,995 • Initial investment:  $2,295-$23,465 • Royalty fees:  1.5%-3% • Average annual sales (company-wide):  $17 million • No. of U.S. franchises:  2,564

Cruise Planners is a network of home-based travel agents who sell full-service vacation packages. The Cruise Planners franchise fee includes a 6-day hands-on training program at Cruise Planners STAR University in Ft. Lauderdale, Florida, along with their award-winning marketing program and access to their ongoing support and development, like their Cruisitude Academy mobile training program. 

#10. Stroll

•  Franchise fee:  $570 • Initial investment:  $1,545-$10,370 • Royalty fees:  15% • Average annual sales (company-wide):  $131 million •  No. of U.S. franchises:  355

The custom publications produced by Stroll have a hyper-local focus, producing hundreds of magazines aimed at specific neighborhoods or cities. As a franchisee, your role is to gather content, find advertisers, and host events to boost readership. That makes this an ideal franchise for creative entrepreneurs like writers and photographers, as well as community organizers and others who are plugged into their local cultural scene. 

#11. Buildingstars

•  Franchise fee:  $995-$46,995 • Initial investment:  $2,245-$53,200 • Royalty fees:  10% • Average annual sales (company-wide):  $29 million • No. of U.S. franchises:  968

Buildingstars is more than just another cleaning franchise. Their management program encourages franchisees to grow their business ownership. At the technician level, the low initial franchise fee makes it easy to become your own boss. If you want more small business revenue, you can move up to a manager’s franchise with larger client portfolios, and high performance can earn you an invitation to their corporate program.

#12. Sign Gypsies

•  Franchise fee:  $1,000 • Initial investment:  $4,150-$9,900 • Royalty fees:  0% • Average annual sales (company-wide):  $3.6 million • No. of U.S. franchises:  800

Sign Gypsies calls themselves “the idea that launched a million smiles,” adding a special touch to celebrations with custom yard signs. This makes it among the most unique as well as the most affordable franchises. Franchisees keep all of their profits, and the time commitment can be minimal. In fact, about half of their owners use Sign Gypsies as additional income to their full-time job.

#13. Jazzercise

•  Franchise fee:  $1,250 • Initial investment:  $2,445-$21,775 • Royalty fees:  20% plus $169-$325/year Music Royalty Fees (Class Owner Franchisee) or $120 per year (Instructor Franchisee) • Average annual sales (company-wide):  $93 million • No. of U.S. franchises:  7,761

A Jazzercise franchise is one of the cheapest franchises you can buy, period. They offer two franchise models. The Instructor Franchisee is perfect for those who just want to teach, while the Class Owner Franchisee is for entrepreneurs who want to own their own business. While the Jazzercise franchise fee is higher for Class Owner Franchisees, both options are very affordable and include access to proprietary choreography, branding and marketing material, and a worldwide support network of other franchisees.

#14. Jan-Pro

•  Franchise fee:  $2,520-$44,000 • Initial investment:  $3,985-$51,605 • Royalty fees:  10% • Average annual sales (company-wide):  $47 million • No. of U.S. franchises:  10,418

Jan-Pro is a low cost franchise business and the #1 commercial cleaning services franchise in the United States. Their initial franchise fee and startup costs vary depending on whether you choose a unit- or home-based franchise, or a master franchise that oversees a group of individual units. The Master Franchise is the more profitable franchise option, while the home-based franchise is the most affordable. 

#15. Stratus Building Solutions

•  Franchise fee:  $3,600-$69,000 • Initial investment:  $4,450-$79,750 • Royalty fees:  5% • Average annual sales (company-wide):  $27.7 million • No. of U.S. franchises:  2,900

Stratus Building Solutions is a commercial cleaning service that provides regularly scheduled office cleanings for businesses across the United States. It’s the third-fastest growing franchise in the country, as well as one of the best low cost franchises thanks to their Janitorial Unit Franchise option, a great way for new business owners to open a new franchise location with a low initial investment. A more experienced franchise owner can instead opt for the Master Franchise option, a scalable model that gives you an exclusive territory of sub-franchisees to oversee. 

#16. RooterMan

•  Franchise fee:  $4,975 • Initial investment:  $45,075-$82,475 • Royalty fees:  Varies (flat rate based on population) • Average annual sales (company-wide):  $77.7 million • No. of U.S. franchises:  749

RooterMan offers residential and commercial plumbing services, from leak detection and repairs to cleaning and septic work. All RooterMan operations are local businesses, owned and operated within their community. You don’t need a plumber’s license in most states to own drain cleaning franchises , and the franchise fees include training in use of their patented drain cleaning equipment.. While equipment is not included in the franchise fee, franchisees get an exclusive discount. 

Need a franchise? $10K will cover you with these franchises. Do franchises make you rich? Probably not, but these businesses don’t require business loans to get started because it costs less than $10K for your business. Finances will start improving quickly when you don’t have to pay small business loans.

#17. Momleta/Baby Boot Camp

•  Franchise fee:  $5,000-$8,000 • Initial investment:  $6,050-$13,179 • Royalty fees:  0% ($240/month service fee) • Average annual sales (company-wide):  $18.4 million • No. of U.S. franchises:  Information not available

The Baby Boot Camp franchise through Momleta is the perfect low cost franchise opportunity for moms who want to make money anywhere. The initial franchise fee includes all the equipment you’ll need to run stroller fitness classes along with a training boot camp, and you don’t need any fitness experience to get started. 

#18. 1040TaxBiz

•  Franchise fee:  $1,000 • Initial investment:  $1,000-$3,000 • Royalty fees:  20-30% • Average annual sales (company-wide):  $7 million • No. of U.S. franchises:  397

Where do those pop-up tax preparers come from every year? A good portion of them are low cost franchises from 1040TaxBiz . The company offers two models: a seasonal operation that’s only open during tax season, and a year-round shop that offers tax guidance for businesses or complex personal returns. They provide franchisees everything they need to operate, including training, software, and ongoing support. 

We have even more businesses you can get started for under $10K.

#19. United Country Real Estate

•  Franchise fee:  $8,000-$20,000 • Initial investment:  $10,480-$51,100 • Royalty fees:  6-12% • Average annual sales (company-wide):  $33 million • No. of U.S. franchises:  430

United Country Real Estate is the only property management and real estate franchise firm focused specifically on rural areas. Franchise locations are available in Mexico, Canada, and Central America, as well as the United States. The initial investment and startup costs are low compared to other property management franchises, making this an affordable franchise opportunity for real estate agents. 

#20. Anago Cleaning Systems

•  Franchise fee:  $5,015-$31,000 • Initial investment:  $11,265-$68,250 • Royalty fees:  10% • Average annual sales (company-wide):  $1.6 million • No. of U.S. franchises:  1,791

Anago is a commercial cleaning franchise with a variety of janitorial, disinfection, and other cleaning services for businesses. Their proven business model offers two levels. The unit franchisee option is the best low cost franchise option, letting you become a business owner with low startup costs. Experienced entrepreneurs can opt for the master franchisee model to purchase an exclusive territory of cleaning franchises.

#21. Superglass Windshield Repair

•  Franchise fee:  $5,000-$17,500 • Initial investment:  $18,685-$84,205 • Royalty fees:  4% • Average annual sales (company-wide):  $13.2 million • No. of U.S. franchises:  336

As one of the world’s largest glass repair companies, Superglass Windshield Repair is a cheap franchise to open and a great choice for entrepreneurs in the automotive sector. Their mobile business model gives it a lower overhead cost than other franchises in the auto industry. Franchisees get access to ongoing training along with marketing resources and strategies to help scale their revenue quickly.

Interested in the food industry? Consider these franchising opportunities.

#22. Krispy Krunchy Chicken

•  Franchise fee:  $2,500 • Initial investment:  $10,000-$30,000 • Royalty fees:  $0 • Average annual sales (company-wide):  $3.4 million • No. of U.S. franchises:  2,600

The food franchise industry can be expensive to get into. Krispy Krunchy Chicken is among the top cheap restaurant franchises both for profitability and franchisee experience. It’s also a great add-on for small business owners, as it’s easy to integrate into a convenience store, supermarket, or other existing retail outlet. Along with a low franchise fee, it requires a minimal ongoing investment since there are no royalties.

#23. Chester’s

•  Franchise fee:  $0 • Initial investment:  $15,950-$288,118 • Royalty fees:  0% • Average annual sales (company-wide):  $17 million • No. of U.S. franchises:  1,098

If you’re looking for cheap fast food franchises, Chester’s should be at the top of your list. It’s a smart business investment, one of the few options that’s both royalty-free and has no franchise fees, with the initial costs all going straight into the restaurant. While Chester’s doesn’t have in-house financing, they have third party lender relationships that give franchisees excellent terms.

#24. Chefs for Seniors

•  Franchise fee:  $8,000-$13,000 • Initial investment:  $12,575-$29,375 • Royalty fees:  8% • Average annual sales (company-wide):  $18.7 million • No. of U.S. franchises:  78

Founded by chef Barrett Allman, Chefs for Seniors is one of the best low cost franchises for cooks and food lovers. The company provides fresh food for seniors cooked right in their homes, a unique business model that both fills a need and has a high demand and revenue potential. That growth is only likely to accelerate as the U.S. population ages and the need for this type of service grows, making this a great opportunity to get in on the ground floor of a soon-to-be booming industry.

#25. Southern Maid Donuts

•  Franchise fee:  $5,000 • Initial investment:  $64,000-$227,000 • Royalty fees:  Varies • Average annual sales (company-wide):  $27.8 million • No. of U.S. franchises:  100

Started in 1937, the delicious donut recipes of Southern Maid Donuts have stood the test of time, and that long history is part of why this is among the best low cost franchises in the food industry. The initial franchise fee grants you the license, as well as the recipes, training, operating manuals, and guidance throughout the opening process. 

These are more great opportunities for you to find a franchise. Check out some of the best low-cost franchises for 2024!

#26. Fit4Mom

•  Franchise fee:  $7,495-$13,395 • Initial investment:  $8,245-$28,185 • Royalty fees:  4% • Average annual sales (company-wide):  $227.1 million • No. of U.S. franchises:  250

The three franchise models of Fit4Mom have varying franchise fees, but whichever way you go, it’s a low cost franchise with the potential to be a very profitable business. The initial investment costs are scaled to the size of the territory, so the more you put in, the more clients you’ll likely get. All models get access to all of their fitness programs, along with training in all of the programs.

#27. Help-U-Sell Real Estate

•  Franchise fee:  $17,750 • Initial investment:  $29,650-$67,650 • Royalty fees:  6% • Average annual sales (company-wide):  $1.1 million • No. of U.S. franchises:  103

The original fee-for-service real estate company, Help-U-Sell offers a range of affordable services for home sellers. It’s also one of the top low cost franchises for real estate agents and other professionals in the property management industry. The franchise fee covers extensive training, marketing materials, and ongoing marketing and operations support for franchisees. 

#28. NextHome

•  Franchise fee:  $4,500-$8,750 • Initial investment:  $16,250-$220,345 • Royalty fees:  $200-$210/month • Average annual sales (company-wide):  $1.9 million • No. of U.S. franchises:  578

Another top path to business ownership for real estate professionals, NextHome ’s affordable franchises are available under a 1-year or 5-year franchise agreement, and their royalty structure is flexible, too. They were top among cheap franchises 2022, ranked #1 across industries by Franchise Business Review. Franchisees get access to ongoing marketing and operational support in addition to the robust training program.

#29. Phoenix Ecom

•  Franchise fee:  $30,000 • Initial investment:  $40,000 • Royalty fees:  Varies • Average annual sales (company-wide):  Information not public • No. of U.S. franchises:  Information not public

Phoenix Ecom is the best franchise opportunity in the online retail space. They help Amazon store owners scale with automated inventory management and account health monitoring. While the franchise fee is on the higher side, the other startup costs are minimal, and they have financing options available. It’s also ideal for first-time entrepreneurs looking to buy their own businesses, with a step-by-step onboarding process and fully automated processes that deliver passive income.

#30. Fastest Feedback

•  Franchise fee:  $5,000 • Initial investment:  $5,000-$35,000 • Royalty fees:  0% • Average annual sales (company-wide):  Information not available • No. of U.S. franchises:  1,000

Fastest Feedback is a B2B company that helps businesses across industries gather better insights from their customers. It’s among the best low cost franchise opportunities for entrepreneurs interested in digital marketing. Franchisees get an exclusive territory and can earn a 6-figure profit in their first year. You won’t need to take out a business loan to start it, either, thanks to the low initial franchise fee.

#31. Blam Digital Marketing

•  Franchise fee:  $13,000-$26,000 • Initial investment:  $19,997-$32,997 • Royalty fees:  Varies • Average annual sales (company-wide):  $5 million • No. of U.S. franchises:  Information not available

The Blam Partnership Programme helps tech entrepreneurs become small business owners and create multiple income streams. As a Blam franchisee, you’ll provide services like SEO, digital marketing, social media management, mobile apps, and AI websites for SMBs around the world. You can start making revenue within 14 days of starting their training program, putting this among the top low cost franchises you can start quickly. The classic package includes digital marketing courses, web and app design strategy training, logo creation and marketing material, and ongoing mentorship and support, and the perks go up at the Boost and Elite levels. 

Bonus: The Most Fun Franchise

#32. skyhawks sports & supertots sports academy.

•  Franchise fee:  $15,000-$42,500 • Initial investment:  $30,300-$89,750 • Royalty fees:  6-9% • Average annual sales (company-wide):  $18 million • No. of U.S. franchises:  231

Here's a little something extra! We've saved one of the best for last, since it's sure to leave you smiling:

Skyhawks Sports is one of the most unique low cost franchise opportunities, giving franchise owners a chance to give back to their community while they grow their business. Their mission is to provide afterschool and summer activities for kids ages 4-14, whether that’s a baseball, football, or soccer program, a sports tournament, or sports-based summer camps.

Which Franchise Business Sounds Best to You?

We’ve covered franchising opportunities that span a wide range of industries. From cleaning companies to exercise, construction to food, marketing, even traveling! Which franchise business would you like to learn more about?

nice work https://binarychemist.com/

My Name is PRETTY NGOMANE. A south African female. Aspiring to do farming. And finding a home away from home for the differently abled persons in their daily needs.

Become a business owner in less than 90 days

Start your 10-day free trial of the UpFlip Academy and learn how to start your own business from scratch.

Get business advice straight to your   Inbox 

JavaScript is disabled in your browser. To view the website properly, please enable JavaScript in your browser settings and refresh the page.

Apply for and manage a grant or program for your business.

Manage your interactions with the R&D Tax Incentive program.

• Business plans

Develop your business plan

On this page

Why you need a business plan

Use our business plan tool, download a detailed business plan template, tips to help you write your business plan.

Whether you've just started out or have been running your business for years, business planning can be the key to your success. Having a business plan:

• helps you to prioritise – it gives your business direction, defines your objectives, maps out how you'll achieve your goals and helps you to manage possible bumps in the road
• gives you control over your business – the planning process helps you learn about the different things that could affect your success. If you're already in business, it helps you to step back and look at what's working and what you can improve on
• helps you seek finance – if you're seeking finance for your business, you'll need to show banks and investors why they should invest in your business.

It will help you to develop a shorter business plan to:

• evaluate a new business idea
• set some goals for the year ahead
• keep your business on track.

Use this template if you are seeking finance for your business or want to include more detail in your business plan.

Business plan template

1. Determine what your plan is for

Does your business plan have more than one purpose? Will you use it internally, or will you share it externally, for example with potential investors or banks?

Deciding what the purpose is, can help you develop your plan for the right audience. If the plan has been developed for third parties, you will need to determine what they’ll be most interested in.

2. Prepare your finances

Use our detailed business plan template if you are seeking finance.

Lenders and investors will want to know if your finances are in order and your business is in a strong financial position. They'll want to know how much money you currently have, how much money you need and how much you expect to make in the near future. While a bit of extra funding will help you ensure you’re covered for unexpected costs, be realistic and avoid asking for more than you need.

If you're starting out and don't have financial information yet, our template provides resources to help you get your finances ready.

3. Write your summary last

Summarise the main points of your business plan using as few words as possible. You want to get to the point but not overlook important facts. This is your opportunity to sell yourself, but don't overdo it. The summary should include details about your business, market, goals and what makes you different from other businesses.

4. Get help

Don't leave your business plan to the last minute. It takes time, research and careful preparation to develop an effective business plan.

If you aren't confident in completing the plan yourself, consider getting a professional to look over it and provide advice.

There are a number of government services available to help you plan, start or grow your business. These services can provide general advice, workshops, seminars and networking events, and can even match you with a mentor or business coach.

Get expert help from a business adviser in your area .

5. Review your plan regularly

As your business changes, your plan will need to change to ensure your business is still heading in the right direction. Having your plan up-to-date can keep you focused on where you are heading.

It's a good idea to keep a record of each version of your business plan.

6. Protect your plan

Having an understanding with third parties when distributing a plan could be enough protection for some businesses. But if you have innovative business practices, products or services, you may want people to sign a confidentiality agreement to protect your innovations.

It may also be a good idea to include some words in your plan asking the reader not to disclose the details of your plan.

Start writing and developing your marketing strategy.

Find out what you need to register for when starting a business., was this page helpful, thanks for sharing your feedback with us..

Our live chat service is open from 8am - 8pm, Monday to Friday, across Australia (excluding national public holidays ).

Learn about the other ways you can contact us .

All our experts are busy now. Please try again later or contact us another way

We're open from 8am - 8pm, Monday to Friday, across Australia (excluding national public holidays ).

We use cookies to give you a better experience on our website. Learn more about how we use cookies and how you can select your preferences.

How to Write a Budget Proposal (+ Free Template)

Published: May 29, 2024

The first time I was assigned to write a budget proposal, I stared anxiously at a blank spreadsheet, wondering where to begin. What was a budget proposal supposed to include? Was there a specific structure to follow? How could I ensure it met all the necessary criteria?

My early attempts at writing a proposal taught me the challenges of building a convincing plan that turns rough ideas into fundable projects. I had to learn to align proposal details with business objectives and articulate the potential benefits in a way that resonated with stakeholders.

It was an overwhelming task at times — but with a strategic approach and a bit of guidance, my ability to synthesize financial data and communicate value gradually became second nature.

In this article, I'll guide you through how to write a simple budget proposal that delights your audience and secures funding. I’ll also provide practical tips, templates, and sample projects to streamline your planning process.

So, let’s get started.

Table of Contents

What is a budget proposal, and why is it important?

The anatomy of a budget proposal, how to create a simple budget proposal, building my own basic budget proposal, 8 budget proposal best practices.

A budget proposal outlines the financial plans for a project or initiative, detailing the expected costs and resources needed for successful completion.

Budget proposals also show potential funders or stakeholders how their money will be spent and the tangible benefits their investment will achieve.

While the content of your budget proposal will change depending on your project’s parameters and specific goals, a well-crafted plan leads to benefits like:

• Stakeholder buy-in. Providing a transparent breakdown of anticipated expenses instills confidence and trust, encouraging stakeholder support or investment.
• Efficient resource usage. Outlining a clear resource allocation plan ensures that funds are directed to the areas where they are needed most.
• Risk mitigation. Applying a risk management framework helps proactively identify potential costs and contingencies, ensuring that the project remains on track and within budget constraints.
• Project tracking. Identifying key project milestones and benchmarks promotes informed decision-making, maintaining efficient and agile progress.

Free Business Budget Templates

Manage your business, personal, and program spend on an annual, quarterly, and monthly basis.

• Personal Budget Template
• Annual Budget Template
• Program Budget Template

Download Free

All fields are required.

You're all set!

Click this link to access this resource at any time.

Before you begin drafting your budget proposal, it's helpful to first familiarize yourself with its key components and overarching structure.

Knowing which strategic points to emphasize — and the order in which to present them — improves your ability to create a logical and compelling argument, while also ensuring you effectively communicate your project’s feasibility.

So, let's examine five critical sections found in every effective budget proposal, drawing on the structure used in Hubspot’s Free Budget Proposal Template .

7. Build a story.

Weave in a strong storytelling narrative that provides context, explains assumptions, and addresses any potential concerns or questions. This adds depth to your proposal and helps guide readers through the document.

Pro tip: Incorporate data visualization techniques, such as graphs or infographics, to complement your narrative and enhance the clarity and persuasiveness of your budget proposal.

Don't forget to share this post!

Related articles.

How to Manage Your Entire Marketing Budget [Free Budget Planner Templates]

How a Bottom-Up Budget Can Transform Your Company From Bottom to Top

Marketing Budget: How Much Should Your Team Spend in 2024? [By Industry]

The Best Free Business Budget Templates

How Marketing Leaders are Navigating Recession [New Data]

3 Ways Marketers are Already Navigating Potential Recession [Data]

Marketing Without a Budget? Use These 10 Tactics [Expert Tips]

24 Ways to Spend Your Marketing Budget Next Quarter

Startup Marketing Budget: How to Write an Incredible Budget for 2023

10 Best Free Project Management Budget Templates for Marketers

6 templates to manage your business, personal, and program spend on an annual, quarterly, and monthly basis.

Marketing software that helps you drive revenue, save time and resources, and measure and optimize your investments — all on one easy-to-use platform

How to Write Up an Airbnb Business Plan: Free PDF Template

Having a well-crafted Airbnb business plan is the best way to set your business up for success from the get-go. It outlines your business goals, operations plan, and the timeline for accomplishing all of this.

After all, you don’t want to be flying blind when it comes to the vacation rental industry.

Try not to get too overwhelmed: it’s easier to write a business plan than you might think. In this article, we explain why having a business plan for Airbnb hosting is important, offer best practices for writing an effective one, and provide a free Airbnb business plan template to download.

Don’t see the form to download our Airbnb Business Plan? Click here .

First, what is an Airbnb business plan?

An Airbnb business plan is a living document that outlines the direction you want your business to go in and strategies for getting it there. It will include details such as your target market and customers, financial plan, and goals and milestones.

You’ll be referring to your business plan often as you work to open your Airbnb , so be sure to be as detailed as possible.

Airbnb business proposal vs. business plan

We sometimes see people get confused between Airbnb proposals and business plans.

To be clear, a business proposal is a document that explains how a company’s product or service can meet a specific customer’s needs. Its goal is to attract customers.

You might need an Airbnb business proposal if you were, say, trying to get investors for your Airbnb business. However, chances are that what you’re really looking for is a business plan.

Why do you need a business plan for Airbnb hosting?

A well-thought-out business plan for Airbnb is the roadmap you’ll use to steer your business into the future. Here are just a few reasons why you should consider writing a business plan for your short-term rental property.

Helps you meet your goals

It’s easy to get sidetracked while trying to grow your business.

Of course, entertaining new ideas is never a bad thing. But having your original vision in writing

will ensure you don’t deviate too far from what you truly want to achieve. It motivates you to move forward and gives you something to measure progress against, too.

Prompts you to make important decisions

You’re going to have to reflect on your operations strategy, competition, future guests, and more when you sit down to write your business plan.

You may find some of the difficult decisions you’ve been putting off coming up in this process. Now is the time to face them head-on.

Don’t sweat this too much. Remember that you can always come back to your business plan and adjust as you go. It’s an ever-evolving document!

Gives you the framework to communicate your business to others

We all like to think we can handle things on our own. However, the time will come when you’ll need help to run your business, be it from a business partner, investor, or assistant.

When that time comes, you need to be able to clearly and confidently communicate what you’re doing and where your business is headed. It wouldn’t make any sense to order an Uber and not tell the driver where to go, right?

Not to mention that an Airbnb business plan saves you the headache of having to explain every nuance of the business to the person you’re bringing on board. Forward the document and let it speak for itself.

How to write a business plan for Airbnb: best practices

Now you know why having a business plan for Airbnb hosting is so important. But how do you go about writing one?

Grab a cup of coffee and pull up a chair. Let’s go over some best practices.

Brainstorm a mission statement

Contrary to popular belief, mission statements are not reserved for major corporations. Before you even start writing the business plan itself, consider writing an Airbnb mission statement for your business.

A mission statement is simply a concise explanation of the business.

Think about how you would explain what you’re doing to a friend at a cocktail party without losing their attention. What vision do you have for the business? Why is this important to you? What value do you provide to your customers?

Take some time to reflect, but keep in mind that mission statements are meant to be quick and to the point.

Airbnb mission statement examples

Here are some examples of Airbnb mission statements for inspiration:

• “The Cozy Cottage provides budget-friendly accommodations to travelers seeking to enjoy the natural beauty of our neighboring national park.”
• “The Little Apple is an eco-conscious studio that gives guests unparalleled access to downtown Manhattan at competitive rates.”
• “The Malibu Oasis offers the ultimate in luxury with a beachfront property, high-end amenities, and services tailored to our guests’ specific needs.”

Recognize your audience

Who will be reading your business plan?

The language you would use with one audience may not be appropriate for another. You might even consider writing different versions of your business plan for different audiences.

For example, a version geared toward investors might use more formal terminology. A version created for a future business partner, on the other hand, might be more casual.

Tap into the power of self-reflection

Starting an Airbnb business is a huge undertaking! Making sure you are ready to take it on is just as important as having a sound business plan.

Take inventory of what skills you already bring to the table and what things you will have to learn along the way. Are there things you should outsource to lighten your load? Do you feel prepared to take the next step with your Airbnb business?

Acknowledge any uncertainties now before you get started. It’s a great way to be honest with yourself and boost your confidence!

Be realistic

Should you push yourself to think big? Absolutely!

Should you set unrealistic and unattainable business goals? Not so much.

It’s all about striking a balance between dreaming big and keeping your feet on the ground. Take into account anything that might go wrong so you aren’t blindsided later on.

What to include in your Airbnb business plan

When it comes to writing a business plan, Airbnb is just like any other business. That’s to say, there are certain things you absolutely must include!

Take a look at our list and stay tuned for our free downloadable business plan template for Airbnb.

Executive summary

An Airbnb executive summary consists of a short description of your Airbnb business. People should be able to read your executive summary and know, at a glance, what your business entails.

To begin, ask yourself the famous five Ws to ensure you cover all the key information:

• Who is my Airbnb for (groups of friends, families, couples, etc.)?
• What is it (family holiday home, beachside condo, bachelor pad, etc.)?
• When is it best to stay at my Airbnb (summer, winter, weekends, etc.)?
• Where is my Airbnb located?
• Why should guests book my property?

Once you have these answers, you can rewrite them into a suitable executive summary.

Operations plan

Your operations plan outlines how you are going to run your Airbnb on a day-to-day basis.

This is one of the most straightforward parts of your business plan. Chances are, you’ve already thought through most of the details.

Here are just a few helpful prompts in case you get stuck:

• Am I going to hire any staff or run the business myself?
• How will I manage inventory ?
• Who is going to clean the rentals between guests?
• Do I need to hire an accountant to manage my finances?
• Who will deal with bookings and customer complaints ?

Business goals

You broadly detailed where your business is going with your executive summary. Now, you need to further solidify your vision in your goals section.

Are you satisfied with a couple of bookings a month? Or are you expecting a full reservation calendar by the end of the year? You’ll need to set goals to help pin this down.

It might sound elementary, but setting S.M.A.R.T. goals will help your business make progress. Is your business goal specific, measurable, attainable, relevant, and timely ?

Setting good goals is the basis for any successful Airbnb business plan.

Unique selling points

As with any business, you’ll need to detail the unique selling points (USPs) your Airbnb will bring to the existing market. That is, why are customers going to choose your Airbnb over the competition?

Thankfully, finding your USPs is much easier than you might think. Simply analyze your business and consider how your Airbnb provides a better guest experience than other properties in your area. Ask questions such as:

• Is it better than others because of its location?
• Is the price of your accommodation better?
• Are the interiors of your property different or better than the rest?

After all, once you are confident in your strengths, your guests will be, too!

Target customers

Your guests are how you are ultimately going to make your money. So, it’s incredibly important to understand and target them properly.

This starts with creating buyer personas to outline the types of guests you want to attract. As profiles of your ideal customers, buyer personas should be as detailed as possible to help your business grow down the road.

When considering your ideal guests, ask yourself questions such as:

• What’s their name?
• What do they do for work?
• How old are they?
• Do they have a family?

Understanding and visualizing your ideal guests enables you to prepare for their specific needs and pain points.

For example, if you’re tailoring to young digital nomads , you’ll want to offer fast and reliable Wi-Fi, a designated work area, and suggestions for laptop-friendly cafes in the area. If your ideal guests are families with young children, on the other hand, you’ll want to make sure your property is child-safe .

Competitor analysis

It’s not all about your own business. No business plan is complete without some competitor research as well.

Take a look at the market to find your direct competitors (these are the properties that might win bookings over you). Then, analyze them to see how you can put your own Airbnb on top .

For example, ask:

• How much are my competitors charging per night?
• What standard of accommodation do they offer?
• Do they offer airport transfers/pickup services?
• Do they offer a wide range of amenities in the house?

Marketing plan

Explain which marketing strategies you will use to target your key markets and achieve bookings. Think about both offline and online marketing , as well as any campaigns or promotions you plan to run externally.

This is when the buyer personas you created earlier will come in handy. If you know the people you’re trying to target, you’ll know what type of marketing will be suitable for them.

Here are some questions that can help you sketch out your marketing plan:

• What methods of online marketing should I use?
• What methods of offline marketing should I use?
• Do I have a direct booking website ?
• Do I have business cards ?

Financial plan

How are you going to finance your Airbnb ? You’ve probably given this lots of thought by this point (or even stayed up at night stressing about it).

But now it’s time to get serious. Will you self-finance your Airbnb or take out a loan ? Is financing unnecessary because you’re simply renting out a spare bedroom?

These questions form your financial plan . As we all know, money doesn’t grow on trees—so you need to know where yours will be coming from. To that end, estimate your expenditures and projected income for the first five years.

So, what kind of information makes up a financial plan?

• Will I need to take out a loan?
• What will the interest rates be?
• Do I have savings I’m ready to invest into it?
• What level of monthly loan payments can I manage?

Milestones and goals

When you start any project—whether it’s going back to school, losing weight, or starting a business—tracking your progress is essential.

So, outline your plans and goals for your business, plus what key milestones will help you achieve these targets. You can refer back to this section later on to ensure you’re on the right track.

Here are some good milestones to use for your Airbnb business:

• How much do I want to make each month?
• How many guests do I want in the first quarter?
• What rate of growth do I want in my bookings year-over-year?
• How many returning clients do I want each year?

Mistakes to avoid when writing an Airbnb business plan

Like we mentioned above, your business plan is a living document. So, you don’t need to worry about making it perfect on the first try. And you will have to update it over time.

That being said, you’d do well to avoid these common mistakes the first time around.

Don’t be too vague

Avoid making big, vague claims that you can’t quantifiably measure. Claims like this will only make it harder to see where you’ve succeeded and where you can improve.

After all, the point of a business plan is to give your business a sense of direction. Your future self will thank you for being specific about your goals and plans.

Also, don’t be too specific

We know—we just told you the exact opposite. But hear us out.

If you get too specific in your plan, you don’t leave yourself very much wiggle room. Yes, you want to have a clear direction of where your business is going. But you don’t want to close yourself off to other possibilities.

Be firm about the destination (your business goals) but flexible about the journey (how you will achieve those goals). There’s a sweet spot in there somewhere.

Airbnb business plan example

Sometimes the easiest way to get started is to see examples of others’ work. We’re also providing an Airbnb business plan template you can follow below. But in case it helps, here’s a sample business plan for Airbnb, based on the fictional business of “the Cozy Cottage”:

• Executive summary: The Cozy Cottage is a cottage located in the small town of Green Meadows. The Cozy Cottage is perfect for couples and small families looking to enjoy the natural beauty of the greater Green Meadows area.
• Operations plan: I will be able to manage guest communications and turnover myself, as I am semi-retired and live on the property adjacent to the Cozy Cottage. I’ve contracted a local accountant to handle my finances.
• Business goals: We intend to have every weekend booked by the end of the year, and a full reservation calendar within six months of opening.
• Unique selling points: The Cozy Cottage’s location (equidistant between the historic downtown and the nearby national park) is especially attractive to visitors. The property also provides a fully stocked kitchen, making it ideal for longer stays.
• Target customers: The Cozy Cottage has one bedroom with a queen bed, as well as a sofa bed in the living room. The space’s size and offerings make it perfect for small families or couples.
• Competitor analysis: Green Meadows has only recently become a popular tourist destination, meaning that competition is still scarce. Most existing Airbnbs in the area have higher price points and cater to larger groups. We plan to differentiate ourselves by catering to smaller groups and offering similar amenities at lower prices.
• Marketing plan: Our initial marketing plan consists of tapping into Airbnb’s customer base, posting on Facebook and Instagram , and distributing print materials in local businesses .
• Financial plan: The property on which the Cozy Cottage sits is already paid off, as it was part of a family estate. The initial investment for furnishing , decorating, and stocking the Airbnb will come out of my personal savings. According to my projections, the Airbnb should be paying for itself within one year of opening.
• Milestones and goals: We hope to be booked every weekend by the end of the year and self-sustaining within one year of opening.

Your own business plan will likely be longer, much more detailed, and backed by real data. However, this Airbnb business plan sample should give you an idea of what your own document might look like.

Download our free Airbnb business plan template

We’ve created a free Airbnb business plan PDF that you can download and customize to get started. This business plan template for Airbnb was designed with three specific pain points in mind:

• Why do I need a business plan in the first place?
• What do I need to do before I can start creating my business plan?
• What should I include?

Fill in the form below to download our Airbnb business plan template free of charge!

Disclaimer: Lodgify is an Airbnb Preferred Software Partner. This post, including any claims or statements within, is solely from Lodgify and is not endorsed by, directly affiliated with, authorized, or sponsored by Airbnb in any way.

The European Green Deal

• Find out what progress the von der Leyen Commission has made so far with the European Green Deal towards becoming climate-neutral by 2050.

Striving to be the first climate-neutral continent

Climate change and environmental degradation are an existential threat to Europe and the world. To overcome these challenges, the European Green Deal will transform the EU into a modern, resource-efficient and competitive economy, ensuring:

• no net emissions of greenhouse gases by 2050
• economic growth decoupled from resource use
• no person and no place left behind

The European Green Deal is also our lifeline out of the COVID-19 pandemic. One third of the €1.8 trillion  investments from the NextGenerationEU Recovery Plan, and the EU’s seven-year budget will finance the European Green Deal.

The European Commission has adopted a set of proposals to make the EU's climate, energy, transport and taxation  policies fit for reducing net greenhouse gas emissions by at least 55% by 2030 , compared to 1990 levels. More information on  Delivering the European Green Deal .

Discover the European Green Deal visual story

12 March 2024 - The Commission has published a Communication on managing climate risks in Europe that sets out how the EU and its countries can implement policies that save lives, cut costs, and protect prosperity. It comes as a direct response to the first-ever European Climate Risk Assessment by the European Environment Agency. It also addresses the concerns that many Europeans have following last’s year record temperatures and extreme weather events. The Commission is calling for action from all levels of government, the private sector and civil society to improve governance and tools for climate risk owners, manage risks across sectors and set the right preconditions to finance climate resilience.

Key figures

Featured initiatives.

Related links

Share this page

• Design for Business
• Most Recent
• Presentations
• Infographics
• Data Visualizations
• Forms and Surveys
• Video & Animation
• Case Studies
• Digital Marketing
• Design Inspiration
• Visual Thinking
• Product Updates
• Visme Webinars
• Artificial Intelligence

15 Communication Plan Templates for Professional Use (2024)

Written by: Orana Velarde

Communication plans can help you deliver information timely and effectively to stakeholders in various situations — from a PR crisis to a new product launch. They are excellent tools to share with your team and prepare them to communicate properly in any given situation.

If you're intimidated by the idea of creating a communication plan from scratch, it's okay. You can simply use a pre-designed communication plan template to speed up the process.

We've put together a list of 15 professional communication plan examples for various use cases.

The best part?

You can edit these communication plan templates online and download them or share them with your team.

Here's a short selection of easy-to-edit Communication plan templates you can edit, share and download with Visme. View more below:

Just choose the category from the list below that best describes your needs and start designing a successful communication strategy.

15 Communication Plan Templates for Professionals

Template #1: strategic communication plan, template #2: crisis communication plan, template #3: it communication plan, template #4: project management communication plan, template #5: internal communication plan, template #6: event communication plan, template #7: simple communication plan, template #8: change management communication plan, template #9: stakeholder communication plan, template #10: donor communication plan, template #11: school communication plan, template #12: emergency communication plan, template #13: marketing communication plan, template #14: product launch communication plan, template #15: diversity and inclusion communication plan, frequently asked questions (faqs).

Before you start scrolling, here’s a video on how to create attractive documents with Visme to get your creative juices flowing.

Strategic communication plans are essential documents that corporations, organizations and companies use to maintain stable and constant communication with their audiences. Below is an example of a communication plan template you can use to streamline communication.

This sleek strategic communication plan uses contrasting desaturation with bright colors to bring attention to the content. The placeholder sections in the table of contents include:

• Executive Summary
• Situational Analysis
• Demographics

Adding your content is easy as all you have to do is copy and paste into the template and adjust as needed. If you want to add pages with a type of graph or more text content, just duplicate a page. Use the same colors as the rest of the design to have a balanced look and feel.

And if you’re short on time, you can use the Visme AI document generator to generate your communication plans or any other document in a matter of seconds. Just type in your prompt, provide a bit more context, select your preferred design and watch the tool produce your first draft in seconds.

Check out how the AI document generator tool works.

Every startup, company or enterprise is bound to have a moment of crisis to deal with. It could be an unhappy customer or a global pandemic. For that reason, you need a crisis communication plan to specify actionable practices in any crisis.

Create your own Communication Plan with this easy-to-edit template! Edit and Download

With crisis communication plan templates like this one, all involved parties have access to the necessary information. Our designers have put together a collection of pages and sections to get you started, including:

• Crisis Communication Policy
• Crisis Command Center Team
• CCC Activation Hierarchy
• Media Liaison

To personalize your brand’s communication plan, simply change the colors and fonts using your Brand Kit . If you need more pages for more key messaging sections, it’s easy to duplicate the pre-designed pages and add your content.

You’ll need to adjust the layout a bit, so the pages don’t look the same. Change the image background for another and customize the text boxes and icons to match your content.

Here’s another great example of a communication plan. Share your project ideas and future goals effectively with our easy-to-use IT communication plan template. It's designed to help you choose the right communication channels and strategies for your IT projects.

The communication template has a bold dark and red design theme that sets a powerful visual tone. With eye-catching visuals and straightforward layouts, this template makes it simple to present your project proposals, timelines, and resource allocation.

Collaborating with your team becomes a seamless experience, ensuring that your message is conveyed accurately and efficiently to all stakeholders.

Upgrade your project communication with this attention-grabbing dark and red-themed IT communication plan template, and make a lasting impression while conveying your ideas and goals with impact.

Is your team working on a project together and you need to keep everything in check and on track? Are you looking for a way to let everyone know what needs to be done and when?

This project management communication plan sample is just what you need as the basis of your action plan.

Be clear and direct about what needs to be done, by whom and when. Putting it all in this project management communication framework template is going to create transparency within your team.

Your job as a project manager is to make sure everything is taken care of correctly and on time. When you use project communication plan templates like this one, your success rates go up.

Use the table of contents in this project management plan to outline all necessary information and key messaging. Explain how and when deliverables are to be expected and who are the key stakeholders in the process.

Link to collaboration channels and give instructions on how to use them best. Give instructions on how to name files and where everything is stored in the cloud.Use the Visme workflow tool to assign and manage each task, set deadlines and review and approve projects—all within your workspace.

Working on a project together takes careful planning. A project manager needs to ensure that everyone knows what’s expected of them and who to contact about different things.

If you’re a project manager or are in charge of an internal project for your company, this internal communications strategy template is just what you need to keep the team on track.

Our professionally designed internal communication plan is easy to use and customize with your content. The sections are separated as follows:

• Stakeholders
• Implementation
• Team Involved

If you plan to share your communication plan as a digital PDF, add links to the respective pages. This way, the reader can navigate to their desired content from the table of contents .

Use the timeline feature in the implementation section to visually schedule the tasks for the project. If you need to make the timeline longer, simply duplicate the page. Customize the colors and fonts for your brand using your Brand Kit.

Simplify the process of planning, organizing, and executing your events with our outstanding event communication plan template.

This complete communication strategy template comes equipped with step-by-step instructions, enabling you to seamlessly coordinate crucial event particulars, create detailed timelines, and ensure your guests are well-informed, all within a single platform.

Featuring captivating visuals, contemporary fonts, and customizable color schemes, this template not only enhances the functionality of your event communication plan. The rich blend of serene blues, pristine whites, and vibrant pinks also adds an aesthetic touch that will leave a lasting impression.

Add flipbook effects so readers can interact with the document as if they are reading a book. Make event planning a breeze while keeping everything visually appealing with this versatile template.

Communications planning doesn’t always need to be complicated. A simple communication plan will do the job for any small project. All you need for effective communication is the key messaging and the relevant links to the preferred communication channels.

This corporate communication plan template is simple and keeps things to only two pages. It effectively uses icons , progress bars and a table format to visualize possible situations of crisis and the appropriate response to each situation.

You can remove the cover page and download your communication plan as a single-page infographic . Or you can add more pages to turn it into a more comprehensive document.

If you’ve ever had to change something inside a company, you know how difficult it can be to it seamlessly. Change can be about a piece of software, a physical working location, a process or system.

A change management communication plan will help everyone involved in the transition by making sure they’re all on the same page.

This change management communication plan designed by our Visme designers uses placeholder content for a change in CRM. The sections apply to any type of change and are:

• Summary: What is changing and why?
• Stakeholders: Who is involved in the change and how?
• Phases: How will the change take place with the help of a timeline?

This is the perfect communication plan template to help your team change something seamlessly without affecting other aspects of your work.

When working on your plan, use Visme’s shortcut tool to easily find anything you want in the editor. Simply type forward slash (/) on your keyboard and search bar will appear. Type in a keyword to easily find design assets, tools and features in the Visme editor.

Having many stakeholders aiming for the same goal requires good organization and planning. Make sure everyone’s on board with this stakeholder communication plan example.

This professionally designed template offers all the pages you need to organize the information for your stakeholders. Share everything they need to know about your company, the goals, objectives, changes, projections and more.

Plus, share all relevant information like the dates for team meetings, a project roadmap , and the manager’s phone number.

If you need more pages than the template provides, simply duplicate and add your content in text boxes. Also, maintain a visual balance in the general look-and-feel of the page.

To keep the communication plan easy to read and understand, link to longer content with popups or external hyperlinks. Make sure to share the finished communication plan as a digital PDF file.

A well-planned donor communication strategy is essential to the success of any fundraising campaign. With our user-friendly template, you can impress your donors and streamline your fundraising efforts. This comprehensive tool includes easy-to-follow sections for outlining your donor engagement strategy, establishing effective communication channels and tracking the progress of your campaigns.

Our template features engaging graphics and icons, sleek fonts, and customizable colors that not only make it visually appealing but also allow you to tailor it to your organization's unique branding.

Every part of this template is customizable. With Visme’s intuitive editor, you can change colors, fonts and more to fit your branding. Elevate your fundraising endeavors and make a lasting impression on your valued supporters with this visually captivating and user-friendly template.

Ensuring that all communication levels are clear and concise within a school setting can be difficult without a communication plan. That's because precise instructions and direction are often essential for teachers, staff, parents and managerial positions.

Our school communication plan sample was created especially for you by our Visme designers. The three main sections cover communication strategies at three different levels:

• Academic Communication
• Staff Communication
• School-Wide Communication

Customize the tables with your school colors and input your specific information into the cells. Make your communication plan interactive by adding links to the correct communication channels for direct messaging and virtual or in-person meetings, and then share it online.

An effective emergency communication plan is vital for ensuring the safety and well-being of your team members. When a disaster strikes, a well-structured and thorough plan can ensure swift, coordinated responses and minimize risks.

Prepare your organization for emergency situations by sharing proven methods and solutions with this invaluable template. This stunning and user-friendly template simplifies the process, allowing you to outline essential procedures, contact information, and crucial resources. It provides indispensable guidance to your personnel in times of crisis, ensuring they are well-prepared and can respond effectively when needed most.

What makes this template shine are the striking images, visuals and design elements. In Visme’s library, you’ll find tons of visuals and design assets to communicate your ideas. Feel free to swap the template color theme to match your branding.

Need help writing or proofreading content for your plan? Visme’s AI writer is your handy assistant. All you need to do is write an accurate prompt that reflects your need and watch the magic happen.

Marketing and social media campaigns are successful when everyone involved knows what their part is in the process and what their tasks are. Setting every team member up with the information they need to reach a common goal is the primary purpose of this marketing communication plan.

This marketing communication plan example has a colorful, modern feel. Circles form a big part of the visual layout, making the content easier to digest and more interesting to look at.

In this marketing communication plan template, there are four sections for your key messaging:

• Goal and Objectives
• SWOT Analysis

The SWOT analysis page is a practical guide to see where your project has weaknesses and what strengths will pull it through. On the last page, you’ll find a timeline to help keep every team member on track of their tasks and in what timeframe.

Easily customize the template to match your brand by using your Brand Kit. Share the template with team members to get feedback and collaborate on the final design. Track how many people have viewed or taken action on your plan using our analytics feature .

When launching a new product, it’s good practice to work as a team. The best way to make sure all the pre-launch tasks are taken care of is to create a product launch communication plan.

In the six pages of this attractive product launch communication plan, you can lay out all the steps for your product’s pre and post-launch activities.

Use the timeline page to explain in detail what needs to happen. Specify which communication teams take care of what tasks, like the press release and influencer outreach emails.

Use hyperlinks to more in-depth content for specific teams and don’t forget to share the links to relevant communication platforms.

Use the sections set up for you in the template or create your own. Your key messaging will probably be similar to this but it’s easy to personalize or add more.

• Launch Phases
• Pre-Launch Activities
• Post-Launch Follow Up

Make sure to include the steps for recording post-launch metrics as these are just as important as the ones done pre-launch. Plus, measurable insights can help with other product launch projects in the future.

Achieving diversity and inclusion in the workplace requires a clear and comprehensive communication plan. A plan will serve as a strategic framework to promote diversity and inclusion initiatives across your organization.

This remarkable, fully customizable template is your compass for systematically advancing diversity, equity, and inclusion within your organization. The template has a clean and creative design layout with high-quality images and graphics that add visual excitement.

The eye-catching images are carefully selected to support your narrative and enhance the overall aesthetic of your plan. With its captivating design, you can effortlessly engage your entire workforce, presenting your vision, initiatives, and progress with impact and clarity.

There are multiple options for sharing your plan with stakeholders. You can share it online with a link or embed it on your website or landing page. Alternatively, you can download it in multiple formats.

Design Your Own Communication Plan Online

Creating a communication plan is easy when you have practical and inspiring templates to guide you. To get started with designing your communication plan, simply choose the template that best fits your vision and input your content.

If you're new to Visme, use one of the free templates and adjust the content accordingly. That said, you’d be surprised at what you can do with a premium Visme subscription .

With a premium subscription, not only will you get access to premium templates and graphic assets, you'll also be able to create any type of visual — from documents and presentations to infographics, charts, surveys, social media graphics and more.

You'll also be able to download your designs in multiple formats, from image to PDF to HTML5, work in collaboration with your team, create a Brand Kit and much more.

Ready to get started? Sign up for a free Visme account today and create a great-looking, comprehensive communication plan to share with your team.

Are you still weighing your options about creating a communication plan? Hopefully, the templates on this list inspired you to take a look and give them a try.

But you might still need a little help deciding if this is a suitable document for what you need. That’s why we’ve put together the most common questions asked about communications plans.

Q1. What is a communication plan?

A communication plan is a strategic document that shares coordinated, consistent and directed messaging for achieving a specific goal, such as managing a PR crisis or successfully launching a new product.

A communication plan can be printed, sent via email as a PDF or shared as a live online link. A well-structured and effective communication plan is the single most crucial factor of project management in any industry and for every use case.

Q2. What is the purpose of a communication plan?

The primary purpose of a communication plan is to deliver consistent information about a shared goal. It keeps everyone on the team on the same page about what needs to be done, how and when.

A communication plan solves many problems that teams usually face when there’s no clear direction for everyone involved. With a clear communication plan, everything is explained in detail and easy to follow.

All communication needs are laid out in detailed sections covering topics from goals and objectives to timelines and schedules . A communication plan brings together all the communication channels into one single document. From there, team members can spread out through relevant links and supplementary documents.

Q3. What’s included in a communication plan?

Every communication plan example is different, just how every project is different. But what remains the same across the majority of communication plans is the relevant and strategic information.

A standard communication plan includes sections like:

• Short and long-term goals for the project.
• A set of key messages to be explained in detail, separated into sections.
• Strategies for communication, both in-house and outbound.
• Details about the people involved in the project.
• A schedule and timeline for specific events, deadlines and reporting.
• Further communication methods.
• Specific instructions about your company’s communication process.
• Strategies for measuring success.

Apart from the list above, a communication plan must also include details pertinent to the specific project. If there are folders or systems that people need to access for the project’s success, list them and explain how to use them.

Q4. What is the first step in communication planning?

The first step in communication planning is to define the goals you and your team want to achieve. Outline both short and long-term goals so it’s easier to plan the project as pieces of a whole.

Following the goals, set the objectives. Explain how you plan to achieve these with the help of timelines, schedules, and tables. Include a list of involved stakeholders and links to further means of collaboration.

Q5. What are the key messages of a communication plan?

A communication plan’s specific key messages will depend on what you want to achieve and who your target audience is. Your key messages are the most essential communication points for any particular project.

For example, let’s say you’re creating a communication plan for a product launch. The key messages would cover;

• The goals and objectives of the product launch.
• The reason and story about why this product was created and what problem it solves for people.
• A timeline of pre-launch activities including who will be contacted for outreach and what information will be shared with them.
• What messaging and visual strategies to use for social media and advertising.

An excellent way to make sure all key messaging is clear is to add each one as an item in the Table of Contents.

Q6. What’s the best tool to create a communication plan online?

If you want to create a communication plan that makes an impact, use Visme! Our professionally designed communication plan templates will look amazing with your content and be super easy to customize.

With a Visme communication plan, you can include data visualizations using data from a Microsoft Excel sheet. In fact, if you’ve been creating project communication plans in an Excel spreadsheet, it’s time to upgrade your communication efforts!

Knock your team out of their seats with your impactful communication plan!

Head over to Visme's professional document creator and look through the template library, or click on any of the communication plan template buttons in the list above.

Q7. How to Write a Communications Plan

• Audit Your Existing Communication Plan: Before you put pen to paper, do a situational analysis of communications in your company. The goal is to identify gaps, problem areas and opportunities for improvement.
• Set SMART Goals: Based on the audit results, highlight SMART goals you want to achieve with your communications plan. An example of a SMART communication goal would be to improve client response time to complaints from six hours to three hours within the next 2 months.
• Identify Your Target Audience: Are you working with media outlets, customers, partners, investors, employees, customers or the government? Understand who your intended audience is. Consider their demographics, interests, needs, and communication preferences. This will help you tailor your messages and select appropriate channels.
• Communication methods, both in-house and outbound.
• Team members responsible for delivering communication
• Escalation plan
• Communication channels
• Choose appropriate and effective channels: Consider using a combination of channels such as email, meetings, presentations, the intranet, newsletters, social media, or face-to-face interactions. Adapt your channels based on the nature of the message and the preferences of your audience.
• Assign responsibilities: Determine who will be responsible for executing different aspects of the communication plan. Assign roles and responsibilities to team members or stakeholders involved in the process. Clearly define each person's tasks and deliverables.
• Set a timeline for execution. It's important to have a rough estimate of the time required for each step in implementing your strategy. For example, if your plan involves sharing information from top-level management to employees, it's wise to consider the duration it will take to go through the chain of command.
• Regularly review and assess your communication plan's performance : Evaluate the effectiveness of your messages, channels, and activities. Identify areas for improvement and make adjustments accordingly.

Q8. What are the Top Communication Planning Tips?

When it comes to communication planning, here are some tips to ensure effective and successful communication:

• Define clear objectives and identify the target audience: Whether it's providing information, generating buy-in, or addressing concerns, having clear objectives will guide your communication strategy. Understanding who your target audience is will help you tailor your communications to their needs, interests, and preferences.
• Be consistent and transparent: Maintain consistency in your messaging across different channels and ensure transparency throughout the change process. Share relevant information, progress updates, and any challenges or risks involved. This helps build trust and credibility with your audience.
• Engage leaders and influencers: Leverage the support of influential leaders and stakeholders within the organization. Engage them early on and involve them in the planning process to help drive change and promote a culture of open communication.
• Establish a feedback loop: Create channels for employees to share their thoughts, concerns, and suggestions. Actively listen and respond to feedback to build trust and engagement.
• Evaluate and Adapt: Gather feedback, track engagement, and assess whether your communication objectives are being met. Use the insights gained to adapt and refine your communication plan as needed.

Q9. How to Use Communication Plan Templates

To effectively use communication plan templates, follow these steps:

Choose a suitable template: Select a communication plan template that aligns with your specific needs and goals. Visme has a comprehensive library of templates that provide a comprehensive structure and include sections relevant to your project or initiative.

Gather relevant information: Collect the necessary information to complete each section of the template.

This may include objectives, target audience details, key messages, communication channels, timelines, budgets, and evaluation methods. Refer to existing documentation, conduct research, and consult with stakeholders as needed to gather accurate and relevant information.

Customize the template: Tailor the template to fit your specific requirements.

• With Visme's intuitive editor, you can easily modify section headings, add or remove sections as needed, and adapt the content to align with your project or organization.
• Customize the visual elements of the template to match your branding or style guidelines by adding your logo, adjusting colors, and modifying fonts.
• Access a rich library of images, videos and design assets to make your plan visually appealing.
• Automatically generate and incorporate captivating images, art, and graphics into your plan using Visme’s AI image generator .

Share and collaborate: Share the completed communication plan with relevant team members and stakeholders using Visme's collaboration features . Encourage them to provide feedback, input, and suggestions for improvement.

Implement and monitor : Implement the communication plan and monitor the progress and effectiveness of your communication efforts. Make adjustments as needed based on feedback, data, and changing circumstances.

Create a effective communication plans in minutes with Visme

Trusted by leading brands

Recommended content for you:

Create Stunning Content!

Design visual brand experiences for your business whether you are a seasoned designer or a total novice.

About the Author

Orana is a multi-faceted creative. She is a content writer, artist, and designer. She travels the world with her family and is currently in Istanbul. Find out more about her work at oranavelarde.com