Simple Business Plan Template (2023)

Whether you need a quick overview or a detailed investor plan, every business plan should include the six key elements outlined in our free template and described below. The main difference between starting an investor-backed business and starting a small business is the market research and the operational and financial details needed to support the idea.

1. Your mission or vision

Start by formulating a “vision statement” for your company. You could call it vision statement or mission statement if you are summarizing. Despite the name, the first section of your business plan summarizes your idea by answering five questions. Keep it as short as an elevator pitch. You will expand on this answer in the following section of Simple Business Plan Templates.

• What does your company do? Are you selling a product, service, information or a combination of these?
• Where did it happen? Do you run your business online, in store, mobile or in a fixed location or environment?
• Who benefits from your business? Who is the ideal customer for your target market and your idea?
• Why should potential customers care? What would make your ideal customer consider your business?
• How do your products and/or services differ from competitors? What will make your ideal customer choose you over the competition?

These answers are easy to find when you have a solid idea for your business, but don't worry if you get stuck. Use the rest of your planning template to generate ideas and strategies. You will quickly discover these answers and possible new directions as you explore your thoughts and options

2. Offers and Estimates

This is where you break down what you offer, sell a product, offer a service, or both, and why everyone should care. Offer that value. In particular, deepen the answers to the first and fourth points of your mission/vision.

By completing this section, you will find that the value proposition research uncovers marketable business opportunities that you may not have considered. So, spend some time exploring the features of this section.

For example, a home bakery that specializes in gluten-free or keto-friendly products may have a value proposition that excites some audiences. Plus, you can extend that value proposition by offering wedding cakes and other special events using traditional baking ingredients that are gluten-free, keto-friendly, and available to all guests.

3. The ideal audience and customer

Here you will explore the third point that will benefit your business. Identifying your ideal customer and finding a broader audience for your product or service is critical to defining your sales and marketing strategy and helping you refine your offering.

There are many ways to research your potential audience, but one shortcut is to identify a problem that people believe your product or service can solve. Starting from a problem-solving position makes it easier to define your target audience and define your ideal customer's wants and needs for your marketing efforts.

Using startup Cottage Baker as an example, one challenge was finding freshly baked gluten-free or keto-friendly desserts. Researching the wants and needs of these people can reveal a target audience that is health conscious, or perhaps health conscious and willing to spend more on hard-to-find items.

However, it is important to have a customer base that can support your business. They can be highly specialized. For example, our bakery startup could attract a larger audience and increase sales by offering gluten-free and keto-focused specialties, as well as more traditional baked goods options.

4. Revenue Sources, Distribution Channels and Marketing

With our internet-based economy, startups have huge revenues and can reach audiences through multiple channels. Revenue streams and sales funnels also serve as marketing tools, so you can cover all three in this section.

source of income

Income streams are many ways to make money in your business. In your plan template, describe how you will monetize your startup and add ideas for future expansions. The income potential may surprise you.

For example, the following sources of income are possible for our cottage bakery:

• product sale . Online, pop-up shops, wholesale and (future) store sales
• Joint Income . Make money from blog posts and social media with affiliate links
• Ad Revenue : Saves ad space on the site
• Selling e-books . Publish an (upcoming) recipe ebook aimed at the gluten-free, keto-friendly dessert niche
• The video is coming . Monetize Your YouTube Channel With Gluten-Free And Keto-Friendly Dessert Videos (Coming Soon)
• Webinars and Online Courses . Make money with (upcoming) educational-style webinars and online courses that include customized baking tips and techniques
• Content for members only . Earn money with members-only site shares for exclusive content to complete (upcoming) webinars and online courses.
• franchise . monetize the (future) home bakery concept and sell it to privileged entrepreneurs

sales funnel

The sales funnel manages your revenue stream. Where would this section go in the second paragraph of your review? Answer the question.

For our Roti Cottage example, the product sales channels could include:

• Mobile point of sale (POS) . Mobile platforms like Shopify or Square POS for direct selling at local farmers markets, fairs and festivals.
• Ecommerce Platforms . Online stores like Shopify, Square or WooCommerce for online retail and wholesale orders
• Social Media Channels . Links to Facebook, Instagram and Pinterest posts and online sales through social media channels
• Location Brick and Mortar . for in-store sales once the store has grown to support a physical location.

Other revenue streams supporting the channel can include:

• Joint Income . Blog sections on ecommerce sites and affiliate accounts
• advertising revenue . Reserved advertising space on e-commerce websites
• Selling e-books . Sell ​​Amazon e-books through Amazon Kindle Direct Publishing
• The video is coming . YouTube channel with ad monetization
• Webinars and Online Courses . Online classroom and webinar platform that supports member accounts, recording and playback
• Content for members only . Password protected website content using a membership program like MemberPress

marketing

Today, the lines between marketing and sales channels are blurring. Social media, e-books, websites, blogs and videos all serve as marketing tools and sources of income. Since many are free and the advertising options are very affordable, they are ideal marketing tools for lean startups.

However, many companies still see value in traditional advertising such as local radio, television, direct mail, newspapers and magazines. You can enter these advertising costs into your overall business plan template to help you create your marketing plan and budget.

5. Structure, Provider and Operation

In this section of the simple business plan template, you'll learn how to get your business up and running. Details include the type of business organization your startup will run, roles and responsibilities, supply chain, and day-to-day operations. Also, include any certifications or permits you need to operate your business in this section.

Our example home baker might use a startup plan and framework like this:

• corporate structure . Sole Proprietor with Business Edge (DBA).
• Permissions and Certificates . County food handling permits and state food certification for home food production. Alternatively, look for a certified canteen kitchen rental company.
• Roles and Responsibilities . Alone, with all roles and responsibilities.
• supply chain . Bulk ingredients and food packaging for an annual membership fee through Sam's Club, Costco, Amazon Prime. Uline shipping supplies; No membership required.
• Daily Activities . Compiling and cooking three days a week to fill local and online orders. Reserve time for special sales, partner bulk orders and market events as needed. Send online orders regularly. Update the website and create marketing and related blog posts on non-delivery days.

6. Financial Forecast

Your final task is to list your startup business forecasts and run cost and profit estimates in your simple business plan template. With free business tools like Square and free social media marketing, lean startups can hit the ground running with low startup costs. In most cases, the cost of the product, shipping and handling, business licenses, and business card printing are all out-of-pocket expenses.

cost estimate

Projected low startup costs for our cottage bakers may include:

Calculation of gross profit

This will help you determine the retail price and sales volume you need to keep your business running and hopefully turn a profit. Use product research to determine a target selling price for your product, and then subtract your product's costs such as hourly rates, raw materials, and supplier fees. Gross profit is your total profit from a product or service.

Here are some examples of the expected gross profit of our home bakers:

last line

It always helps to put careful thought and detail into a business plan, but don't get so caught up in the plan that you don't hit the start button to launch your business. Also remember that business plans do not overlap. Markets, target groups and technologies change, and with them your goals and the means to achieve them. Treat your business plan as a living document and regularly review, expand and restructure it according to market opportunities and the needs of business growth.

My Basic Business and Marketing Plan for 2023 (Scroll This Template)