Business Plan Franchise Template

Writing a Business Plan for Success

Writing a business plan is an important part of starting a business — like a road map, it’s a way to make sure your business is heading in the right direction, to keep it on focus, and to change course whenever necessary.

While the exact format your business plan takes should be dependent on your industry, business structure, and business purpose, the following standard template will get you off to the right start.

It may seem like a chore, but remember: If you can get through writing the business plan, you’ll be able to start your business with realistic expectations and a level of preparedness that will make you more likely to succeed!

1. Executive Summary

This section is like your elevator pitch; it contains all of the basics about your business. A potential investor skimming this section should come away with your name, your address, your business purpose, and a solid idea of what your business really entails.

2. Organizational Structure

This section will clarify the type of business you are. If you’re an LLC, will you have managers or managing members? If you’re a corporation, are you a C or S corporation? If you have any agreements or contacts with vendors, suppliers, or affiliates, describe them here.

3. Industry Analysis

This section discusses how your business fits into the existing industry. What kinds of key players dominate the industry — are they independently owned, or are they primarily franchises? Your industry analysis should also include any notes on new technology that may impact the industry, regulations relevant to the industry, and the current state and future growth of the industry itself.

4. Services and Products

Give a detailed description of each of your services and products. This section should be written clearly and specifically, painting an accurate and detailed picture of exactly what it is your business does in real terms.

5. Market Analysis / Marketing Plan

This section should talk about your target market: Who they are, how old they are, how much money they have, their educational level, and where they do their shopping. (It’s a good idea to include charts and graphs in this section for clarity.)

Then, create a marketing plan. How are you going to get your product in front of these people? (If your target demographic is middle-aged housewives, mid-day television commercials might be effective; magazine advertisements in Guitar World might not be.) Think about your marketing budget and determine your best ROI potential.

6. Sales Strategy

Now that you’ve gotten your product in front of your target market, how are you going to physically sell it to them? Discuss your sales team, if applicable, and discuss training options, salary, and sales incentives. Discuss your customer service team, your business website, and any other aspects of the sales experience.

7. Management Team

Describe the roles and responsibilities of your President, Secretary, Treasurer, Directors, and any other corporate officers/members of the business. Describe their professional qualifications, their strengths, and their compensation structure.

8. Financial Analysis / Financial Plan

With all of the information you’ve gathered together throughout the business plan, you should have a great starting point to calculate your initial expenses and three years of financial projections. 

Remember: Your business plan is not being carved into stone. While one of its purposes is to prepare you and keep you on track, it should also be flexible. If a new opportunity presents itself, don’t be afrait to revisit your business plan and revise where necessary. Your business plan should help you grow, not hold you back!

About the Author

Sarah Kolb, http://www.clickandinc.com

Since 2000, Sarah has been helping small business owners, independent entrepreneurs, writers, and musicians start new businesses, protect their intellectual property, and make their businesses grow.

Creating An Online Business Plan While Working A Job

Start a Cupcake Business Today $9.99 Our cupcake business guide combines the business know-how with the practical advice you need to open your business quickly.There’s never been a better time to start up a cupcake business. This is a great opportunity for anyone who is passionate about cupcakes, creative in spirit, and looking for an outlet to realize their dream…Wherever you are in your entrepreneurial aspirations, this book will…

Be Sociable, Share!

•