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Le parcours WikiCréa

Ne foncez pas dans votre projet d’entreprise tête baissée ! La création d’entreprise ne s’improvise pas.

WikiCréa vous propose un parcours complet de création d’entreprise en 8 étapes*

Module 1 : Suis-je prêt à entreprendre ?

Objectif : mesurer votre potentiel de créateur d’entreprise. Contenu et supports : bilan personnel, test, détection des forces et faiblesses, formation en ligne, guide gratuit.

Module 2 : Mon idée et mon marché

Objectif : choisir, préciser et tester son idée de création d’entreprise. Étudier son marché. Contenu et supports : outil de détection d’idées, méthode d’étude de marché, formation et accompagnement.

Module 3 : Mon modèle économique

Objectif : déterminer un modèle économique et une organisation viables. Contenu et supports : outil de conception et de validation de modèle économique, formation en ligne.

Module 4 : Mon plan d’affaires 

Objectif : élaborer un plan financier et un plan d’affaires dans les règles de l’art. Contenu et supports : outil plan financier, modèle de business plan, formation en ligne.

Module 5 : Mon financement

Objectif : identifier les financements et préparer les entretiens avec les financeurs. Contenu et supports : aide au montage financier, liste de financeurs potentiels, formation.

Module 6 : Mes choix juridiques

Objectif : identifier le meilleur statut juridique et gérer les risques ; préparer les documents juridiques. Contenu et supports : outils en ligne, simulateurs, formation en ligne, liste de partenaires.

Module 7 : Je crée !

Aide aux formalités de création d’entreprise.

Module 8 : Je pilote et je développe

Objectif : acquérir des outils et des méthodes pour développer et gérer efficacement son entreprise. Contenu et supports : coaching, formation en ligne, outil de gestion, suivi de trésorerie, modèles de tableaux de bord.

L’outil WikiCréa Projet Entreprise vous guide dans votre projet, étape après étape, pas après pas. Il vous permettra d’ordonner vos idées, de valider vos hypothèses et de limiter vos risques.

Chaque module comporte des outils, des modèles à utiliser et des formations en ligne. Il propose aussi des tâches ou des démarches à effectuer.

Loin de faire perdre du temps, l’outil WikiCréa Projet Entreprise boostera au contraire votre projet, en garantissant une réponse concrète à chacune de vos questions.

En réduisant votre zone d’incertitude, vous gagnerez en confiance et mettrez toutes les chances de votre côté pour votre projet de création d’entreprise.

Small Business Trends

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

This is the ultimate guide to creating a comprehensive and effective plan to start a business . In today’s dynamic business landscape, having a well-crafted business plan is an important first step to securing funding, attracting partners, and navigating the challenges of entrepreneurship.

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.

Whether you’re a seasoned entrepreneur or launching your very first startup, the guide will give you the insights, tools, and confidence you need to create a solid foundation for your business.

Table of Contents

How to Write a Business Plan

Embarking on the journey of creating a successful business requires a solid foundation, and a well-crafted business plan is the cornerstone. Here is the process of writing a comprehensive business plan and the main parts of a winning business plan . From setting objectives to conducting market research, this guide will have everything you need.

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.

It’s crucial to include a clear mission statement, a brief description of your primary products or services, an overview of your target market, and key financial projections or achievements.

Think of it as an elevator pitch in written form: it should be compelling enough to engage potential investors or stakeholders and provide them with a clear understanding of what your business is about, its goals, and why it’s a promising investment.

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.

Our target market includes environmentally conscious consumers and businesses seeking to reduce their carbon footprint. We project a 200% increase in revenue within the first three years of operation.

Overview and Business Objectives

In the Overview and Business Objectives section, outline your business’s core goals and the strategic approaches you plan to use to achieve them. This section should set forth clear, specific objectives that are attainable and time-bound, providing a roadmap for your business’s growth and success.

It’s important to detail how these objectives align with your company’s overall mission and vision. Discuss the milestones you aim to achieve and the timeframe you’ve set for these accomplishments.

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

Example: EcoTech’s primary objective is to become a market leader in sustainable technology products within the next five years. Our key objectives include:

• Introducing three new products within the first two years of operation.
• Achieving annual revenue growth of 30%.
• Expanding our customer base to over 10,000 clients by the end of the third year.

Company Description

The Company Description section is your opportunity to delve into the details of your business. Provide a comprehensive overview that includes your company’s history, its mission statement, and its vision for the future.

Highlight your unique selling proposition (USP) – what makes your business stand out in the market. Explain the problems your company solves and how it benefits your customers.

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.

Example: EcoTech is committed to developing cutting-edge sustainable technology products that benefit both the environment and our customers. Our unique combination of innovative solutions and eco-friendly design sets us apart from the competition. We envision a future where technology and sustainability go hand in hand, leading to a greener planet.

Define Your Target Market

Defining Your Target Market is critical for tailoring your business strategy effectively. This section should describe your ideal customer base in detail, including demographic information (such as age, gender, income level, and location) and psychographic data (like interests, values, and lifestyle).

Elucidate on the specific needs or pain points of your target audience and how your product or service addresses these. This information will help you know your target market and develop targeted marketing strategies.

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

The Market Analysis section requires thorough research and a keen understanding of the industry. It involves examining the current trends within your industry, understanding the needs and preferences of your customers, and analyzing the strengths and weaknesses of your competitors.

This analysis will enable you to spot market opportunities and anticipate potential challenges. Include data and statistics to back up your claims, and use graphs or charts to illustrate market trends.

This section should demonstrate that you have a deep understanding of the market in which you operate and that your business is well-positioned to capitalize on its opportunities.

Example: The market for eco-friendly technology products has experienced significant growth in recent years, with an estimated annual growth rate of 10%. As consumers become increasingly aware of environmental issues, the demand for sustainable solutions continues to rise.

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

A SWOT analysis in your business plan offers a comprehensive examination of your company’s internal and external factors. By assessing Strengths, you showcase what your business does best and where your capabilities lie.

Weaknesses involve an honest introspection of areas where your business may be lacking or could improve. Opportunities can be external factors that your business could capitalize on, such as market gaps or emerging trends.

Threats include external challenges your business may face, like competition or market changes. This analysis is crucial for strategic planning, as it helps in recognizing and leveraging your strengths, addressing weaknesses, seizing opportunities, and preparing for potential threats.

Including a SWOT analysis demonstrates to stakeholders that you have a balanced and realistic understanding of your business in its operational context.

• Innovative and eco-friendly product offerings.
• Strong commitment to sustainability and environmental responsibility.
• Skilled and experienced team with expertise in technology and sustainability.

Weaknesses:

• Limited brand recognition compared to established competitors.
• Reliance on third-party manufacturers for product development.

Opportunities:

• Growing consumer interest in sustainable products.
• Partnerships with environmentally-focused organizations and influencers.
• Expansion into international markets.
• Intense competition from established technology companies.
• Regulatory changes could impact the sustainable technology market.

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.

By conducting a thorough competitive analysis, you can gain insights into your competitors’ strengths and weaknesses, enabling you to develop strategies to differentiate your business and gain a competitive advantage in the marketplace.

Example: Key competitors include:

GreenTech: A well-known brand offering eco-friendly technology products, but with a narrower focus on energy-saving devices.

EarthSolutions: A direct competitor specializing in sustainable technology, but with a limited product range and higher prices.

By offering a diverse product portfolio, competitive pricing, and continuous innovation, we believe we can capture a significant share of the growing sustainable technology market.

Organization and Management Team

Provide an overview of your company’s organizational structure, including key roles and responsibilities. Introduce your management team, highlighting their expertise and experience to demonstrate that your team is capable of executing the business plan successfully.

Showcasing your team’s background, skills, and accomplishments instills confidence in investors and other stakeholders, proving that your business has the leadership and talent necessary to achieve its objectives and manage growth effectively.

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

Describe the products or services your business offers, focusing on their unique features and benefits. Explain how your offerings solve customer pain points and why they will choose your products or services over the competition.

This section should emphasize the value you provide to customers, demonstrating that your business has a deep understanding of customer needs and is well-positioned to deliver innovative solutions that address those needs and set your company apart from competitors.

Example: EcoTech offers a range of eco-friendly technology products, including energy-efficient lighting solutions, solar chargers, and smart home devices that optimize energy usage. Our products are designed to help customers reduce energy consumption, minimize waste, and contribute to a cleaner environment.

Marketing and Sales Strategy

In this section, articulate your comprehensive strategy for reaching your target market and driving sales. Detail the specific marketing channels you plan to use, such as social media, email marketing, SEO, or traditional advertising.

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.

Discuss how these marketing and sales efforts will work together to attract and retain customers, generate leads, and ultimately contribute to achieving your business’s revenue goals.

This section is critical to convey to investors and stakeholders that you have a well-thought-out approach to market your business effectively and drive sales growth.

Example: Our marketing strategy includes digital advertising, content marketing, social media promotion, and influencer partnerships. We will also attend trade shows and conferences to showcase our products and connect with potential clients. Our sales strategy involves both direct sales and partnerships with retail stores, as well as online sales through our website and e-commerce platforms.

Logistics and Operations Plan

The Logistics and Operations Plan is a critical component that outlines the inner workings of your business. It encompasses the management of your supply chain, detailing how you acquire raw materials and manage vendor relationships.

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.

Quality control measures are essential to maintain product standards and customer satisfaction. This plan assures investors and stakeholders of your operational competency and readiness to meet business demands.

Highlighting your commitment to operational efficiency and customer satisfaction underlines your business’s capability to maintain smooth, effective operations even as it scales.

Example: EcoTech partners with reliable third-party manufacturers to produce our eco-friendly technology products. Our operations involve maintaining strong relationships with suppliers, ensuring quality control, and managing inventory.

We also prioritize efficient distribution through various channels, including online platforms and retail partners, to deliver products to our customers in a timely manner.

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.

Ground these projections in solid assumptions based on your market analysis, industry benchmarks, and realistic growth scenarios. Break down revenue streams and include an analysis of the cost of goods sold, operating expenses, and potential investments.

This section should also discuss your break-even analysis, cash flow projections, and any assumptions about external funding requirements.

By presenting a thorough and data-backed financial forecast, you instill confidence in potential investors and lenders, showcasing your business’s potential for profitability and financial stability.

This forward-looking financial plan is crucial for demonstrating that you have a firm grasp of the financial nuances of your business and are prepared to manage its financial health effectively.

Example: Over the next three years, we expect to see significant growth in revenue, driven by new product launches and market expansion. Our financial projections include:

• Year 1: $1.5 million in revenue, with a net profit of $200,000.
• Year 2: $3 million in revenue, with a net profit of $500,000.
• Year 3: $4.5 million in revenue, with a net profit of $1 million.

These projections are based on realistic market analysis, growth rates, and product pricing.

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.

Regularly reviewing and analyzing your income statement allows you to monitor the health of your business, evaluate the effectiveness of your strategies, and make data-driven decisions to optimize profitability and growth.

Example: The income statement for EcoTech’s first year of operation is as follows:

• Revenue: $1,500,000
• Cost of Goods Sold: $800,000
• Gross Profit: $700,000
• Operating Expenses: $450,000
• Net Income: $250,000

This statement highlights our company’s profitability and overall financial health during the first year of operation.

Cash Flow Statement

A cash flow statement is a crucial part of a financial business plan that shows the inflows and outflows of cash within your business. It helps you monitor your company’s liquidity, ensuring you have enough cash on hand to cover operating expenses, pay debts, and invest in growth opportunities.

By including a cash flow statement in your business plan, you demonstrate your ability to manage your company’s finances effectively.

Example:  The cash flow statement for EcoTech’s first year of operation is as follows:

Operating Activities:

• Depreciation: $10,000
• Changes in Working Capital: -$50,000
• Net Cash from Operating Activities: $210,000

Investing Activities:

•  Capital Expenditures: -$100,000
• Net Cash from Investing Activities: -$100,000

Financing Activities:

• Proceeds from Loans: $150,000
• Loan Repayments: -$50,000
• Net Cash from Financing Activities: $100,000
• Net Increase in Cash: $210,000

This statement demonstrates EcoTech’s ability to generate positive cash flow from operations, maintain sufficient liquidity, and invest in growth opportunities.

Tips on Writing a Business Plan

1. Be clear and concise: Keep your language simple and straightforward. Avoid jargon and overly technical terms. A clear and concise business plan is easier for investors and stakeholders to understand and demonstrates your ability to communicate effectively.

2. Conduct thorough research: Before writing your business plan, gather as much information as possible about your industry, competitors, and target market. Use reliable sources and industry reports to inform your analysis and make data-driven decisions.

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.

4. Focus on your unique selling proposition (USP): Clearly articulate what sets your business apart from the competition. Emphasize your USP throughout your business plan to showcase your company’s value and potential for success.

5. Be flexible and adaptable: A business plan is a living document that should evolve as your business grows and changes. Be prepared to update and revise your plan as you gather new information and learn from your experiences.

6. Use visuals to enhance understanding: Include charts, graphs, and other visuals to help convey complex data and ideas. Visuals can make your business plan more engaging and easier to digest, especially for those who prefer visual learning.

7. Seek feedback from trusted sources: Share your business plan with mentors, industry experts, or colleagues and ask for their feedback. Their insights can help you identify areas for improvement and strengthen your plan before presenting it to potential investors or partners.

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.

The template is divided into the following sections:

• Mission statement
• Business Overview
• Key products or services
• Target market
• Financial highlights
• Company goals
• Strategies to achieve goals
• Measurable, time-bound objectives
• Company History
• Mission and vision
• Unique selling proposition
• Demographics
• Psychographics
• Pain points
• Industry trends
• Customer needs
• Competitor strengths and weaknesses
• Opportunities
• Competitor products and services
• Market positioning
• Pricing strategies
• Organizational structure
• Key roles and responsibilities
• Management team backgrounds
• Product or service features
• Competitive advantages
• Marketing channels
• Advertising campaigns
• Promotional activities
• Sales strategies
• Supply chain management
• Inventory control
• Production processes
• Quality control measures
• Projected revenue
• Assumptions
• Cash inflows
• Cash outflows
• Net cash flow

What is a Business Plan?

A business plan is a strategic document that outlines an organization’s goals, objectives, and the steps required to achieve them. It serves as a roadmap as you start a business , guiding the company’s direction and growth while identifying potential obstacles and opportunities.

Typically, a business plan covers areas such as market analysis, financial projections, marketing strategies, and organizational structure. It not only helps in securing funding from investors and lenders but also provides clarity and focus to the management team.

A well-crafted business plan is a very important part of your business startup checklist because it fosters informed decision-making and long-term success.

Why You Should Write a Business Plan

Understanding the importance of a business plan in today’s competitive environment is crucial for entrepreneurs and business owners. Here are five compelling reasons to write a business plan:

• Attract Investors and Secure Funding : A well-written business plan demonstrates your venture’s potential and profitability, making it easier to attract investors and secure the necessary funding for growth and development. It provides a detailed overview of your business model, target market, financial projections, and growth strategies, instilling confidence in potential investors and lenders that your company is a worthy investment.
• Clarify Business Objectives and Strategies : Crafting a business plan forces you to think critically about your goals and the strategies you’ll employ to achieve them, providing a clear roadmap for success. This process helps you refine your vision and prioritize the most critical objectives, ensuring that your efforts are focused on achieving the desired results.
• Identify Potential Risks and Opportunities : Analyzing the market, competition, and industry trends within your business plan helps identify potential risks and uncover untapped opportunities for growth and expansion. This insight enables you to develop proactive strategies to mitigate risks and capitalize on opportunities, positioning your business for long-term success.
• Improve Decision-Making : A business plan serves as a reference point so you can make informed decisions that align with your company’s overall objectives and long-term vision. By consistently referring to your plan and adjusting it as needed, you can ensure that your business remains on track and adapts to changes in the market, industry, or internal operations.
• Foster Team Alignment and Communication : A shared business plan helps ensure that all team members are on the same page, promoting clear communication, collaboration, and a unified approach to achieving the company’s goals. By involving your team in the planning process and regularly reviewing the plan together, you can foster a sense of ownership, commitment, and accountability that drives success.

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:

• Startup Business Plan: Tailored for new ventures, a startup business plan outlines the company’s mission, objectives, target market, competition, marketing strategies, and financial projections. It helps entrepreneurs clarify their vision, secure funding from investors, and create a roadmap for their business’s future. Additionally, this plan identifies potential challenges and opportunities, which are crucial for making informed decisions and adapting to changing market conditions.
• Internal Business Plan: This type of plan is intended for internal use, focusing on strategies, milestones, deadlines, and resource allocation. It serves as a management tool for guiding the company’s growth, evaluating its progress, and ensuring that all departments are aligned with the overall vision. The internal business plan also helps identify areas of improvement, fosters collaboration among team members, and provides a reference point for measuring performance.
• Strategic Business Plan: A strategic business plan outlines long-term goals and the steps to achieve them, providing a clear roadmap for the company’s direction. It typically includes a SWOT analysis, market research, and competitive analysis. This plan allows businesses to align their resources with their objectives, anticipate changes in the market, and develop contingency plans. By focusing on the big picture, a strategic business plan fosters long-term success and stability.
• Feasibility Business Plan: This plan is designed to assess the viability of a business idea, examining factors such as market demand, competition, and financial projections. It is often used to decide whether or not to pursue a particular venture. By conducting a thorough feasibility analysis, entrepreneurs can avoid investing time and resources into an unviable business concept. This plan also helps refine the business idea, identify potential obstacles, and determine the necessary resources for success.
• Growth Business Plan: Also known as an expansion plan, a growth business plan focuses on strategies for scaling up an existing business. It includes market analysis, new product or service offerings, and financial projections to support expansion plans. This type of plan is essential for businesses looking to enter new markets, increase their customer base, or launch new products or services. By outlining clear growth strategies, the plan helps ensure that expansion efforts are well-coordinated and sustainable.
• Operational Business Plan: This type of plan outlines the company’s day-to-day operations, detailing the processes, procedures, and organizational structure. It is an essential tool for managing resources, streamlining workflows, and ensuring smooth operations. The operational business plan also helps identify inefficiencies, implement best practices, and establish a strong foundation for future growth. By providing a clear understanding of daily operations, this plan enables businesses to optimize their resources and enhance productivity.
• Lean Business Plan: A lean business plan is a simplified, agile version of a traditional plan, focusing on key elements such as value proposition, customer segments, revenue streams, and cost structure. It is perfect for startups looking for a flexible, adaptable planning approach. The lean business plan allows for rapid iteration and continuous improvement, enabling businesses to pivot and adapt to changing market conditions. This streamlined approach is particularly beneficial for businesses in fast-paced or uncertain industries.
• One-Page Business Plan: As the name suggests, a one-page business plan is a concise summary of your company’s key objectives, strategies, and milestones. It serves as a quick reference guide and is ideal for pitching to potential investors or partners. This plan helps keep teams focused on essential goals and priorities, fosters clear communication, and provides a snapshot of the company’s progress. While not as comprehensive as other plans, a one-page business plan is an effective tool for maintaining clarity and direction.
• Nonprofit Business Plan: Specifically designed for nonprofit organizations, this plan outlines the mission, goals, target audience, fundraising strategies, and budget allocation. It helps secure grants and donations while ensuring the organization stays on track with its objectives. The nonprofit business plan also helps attract volunteers, board members, and community support. By demonstrating the organization’s impact and plans for the future, this plan is essential for maintaining transparency, accountability, and long-term sustainability within the nonprofit sector.
• Franchise Business Plan: For entrepreneurs seeking to open a franchise, this type of plan focuses on the franchisor’s requirements, as well as the franchisee’s goals, strategies, and financial projections. It is crucial for securing a franchise agreement and ensuring the business’s success within the franchise system. This plan outlines the franchisee’s commitment to brand standards, marketing efforts, and operational procedures, while also addressing local market conditions and opportunities. By creating a solid franchise business plan, entrepreneurs can demonstrate their ability to effectively manage and grow their franchise, increasing the likelihood of a successful partnership with the franchisor.

Using Business Plan Software

Creating a comprehensive business plan can be intimidating, but business plan software can streamline the process and help you produce a professional document. These tools offer a number of benefits, including guided step-by-step instructions, financial projections, and industry-specific templates. Here are the top 5 business plan software options available to help you craft a great business plan.

1. LivePlan

LivePlan is a popular choice for its user-friendly interface and comprehensive features. It offers over 500 sample plans, financial forecasting tools, and the ability to track your progress against key performance indicators. With LivePlan, you can create visually appealing, professional business plans that will impress investors and stakeholders.

2. Upmetrics

Upmetrics provides a simple and intuitive platform for creating a well-structured business plan. It features customizable templates, financial forecasting tools, and collaboration capabilities, allowing you to work with team members and advisors. Upmetrics also offers a library of resources to guide you through the business planning process.

Bizplan is designed to simplify the business planning process with a drag-and-drop builder and modular sections. It offers financial forecasting tools, progress tracking, and a visually appealing interface. With Bizplan, you can create a business plan that is both easy to understand and visually engaging.

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.

5. Tarkenton GoSmallBiz

Developed by NFL Hall of Famer Fran Tarkenton, GoSmallBiz is tailored for small businesses and startups. It features a guided business plan builder, customizable templates, and financial projection tools. GoSmallBiz also offers additional resources, such as CRM tools and legal document templates, to support your business beyond the planning stage.

Business Plan FAQs

What is a good business plan.

A good business plan is a well-researched, clear, and concise document that outlines a company’s goals, strategies, target market, competitive advantages, and financial projections. It should be adaptable to change and provide a roadmap for achieving success.

What are the 3 main purposes of a business plan?

The three main purposes of a business plan are to guide the company’s strategy, attract investment, and evaluate performance against objectives. Here’s a closer look at each of these:

• It outlines the company’s purpose and core values to ensure that all activities align with its mission and vision.
• It provides an in-depth analysis of the market, including trends, customer needs, and competition, helping the company tailor its products and services to meet market demands.
• It defines the company’s marketing and sales strategies, guiding how the company will attract and retain customers.
• It describes the company’s organizational structure and management team, outlining roles and responsibilities to ensure effective operation and leadership.
• It sets measurable, time-bound objectives, allowing the company to plan its activities effectively and make strategic decisions to achieve these goals.
• It provides a comprehensive overview of the company and its business model, demonstrating its uniqueness and potential for success.
• It presents the company’s financial projections, showing its potential for profitability and return on investment.
• It demonstrates the company’s understanding of the market, including its target customers and competition, convincing investors that the company is capable of gaining a significant market share.
• It showcases the management team’s expertise and experience, instilling confidence in investors that the team is capable of executing the business plan successfully.
• It establishes clear, measurable objectives that serve as performance benchmarks.
• It provides a basis for regular performance reviews, allowing the company to monitor its progress and identify areas for improvement.
• It enables the company to assess the effectiveness of its strategies and make adjustments as needed to achieve its objectives.
• It helps the company identify potential risks and challenges, enabling it to develop contingency plans and manage risks effectively.
• It provides a mechanism for evaluating the company’s financial performance, including revenue, expenses, profitability, and cash flow.

Can I write a business plan by myself?

Yes, you can write a business plan by yourself, but it can be helpful to consult with mentors, colleagues, or industry experts to gather feedback and insights. There are also many creative business plan templates and business plan examples available online, including those above.

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?

Yes, a one-page business plan is a condensed version that highlights the most essential elements, including the company’s mission, target market, unique selling proposition, and financial goals.

How long should a business plan be?

A typical business plan ranges from 20 to 50 pages, but the length may vary depending on the complexity and needs of the business.

What is a business plan outline?

A business plan outline is a structured framework that organizes the content of a business plan into sections, such as the executive summary, company description, market analysis, and financial projections.

What are the 5 most common business plan mistakes?

The five most common business plan mistakes include inadequate research, unrealistic financial projections, lack of focus on the unique selling proposition, poor organization and structure, and failure to update the plan as circumstances change.

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?

A business plan focuses on the overall vision, goals, and tactics of a company, while a strategic plan outlines the specific strategies, action steps, and performance measures necessary to achieve the company’s objectives.

How is business planning for a nonprofit different?

Nonprofit business planning focuses on the organization’s mission, social impact, and resource management, rather than profit generation. The financial section typically includes funding sources, expenses, and projected budgets for programs and operations.

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Exclusive: Tesla scraps low-cost car plans amid fierce Chinese EV competition

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• Entry-level Tesla car won’t be built, three sources tell Reuters
• Tesla to focus on self-driving taxis instead, sources said
• Strategy shift comes as Tesla faces competition from China EV makers including BYD

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Airbus facing upfront costs to support jet output increase

Airbus is incurring up-front costs as it prepares for higher jet production and plans a breathing space to absorb them once it reaches its output goal, its finance chief said on Wednesday.

An engine cover rips off a Southwest Airlines Boeing 737, forcing an emergency landing

• A Southwest Airlines flight returned to Denver after an engine cover ripped off mid-flight.
• The 737-800 aircraft involved is a previous-generation variant, not the recently scrutinized Max 9. 
• Southwest's maintenance team is reviewing the aircraft while the FAA investigates.

A Boeing 737 operated by Southwest Airlines had to turn around mid-flight after an engine cover ripped off on Sunday.

Southwest Airlines told Business Insider in a statement that Flight 3695 returned to the Denver International Airport and landed safely after experiencing a "mechanical issue." The airline said its maintenance team is reviewing the aircraft.

"Our Customers will arrive at Houston Hobby on another aircraft, approximately three hours behind schedule," Southwest said in the statement. "We apologize for the inconvenience of their delay, but place our highest priority on ultimate safety for our customers and employees."

Video of the incident shared online shows a section of the plane's engine cowling — a panel that covers the engine — tearing away from the aircraft.

Scary moments for passengers on a Southwest flight from Denver to Houston when the engine cover ripped off during flight , forcing the plane to return to Denver Sunday morning. pic.twitter.com/BBpCBXpTsl — Sam Sweeney (@SweeneyABC) April 7, 2024

In January, the Federal Aviation Administration grounded 171 Boeing 737 Max 9 planes after a section of an Alaska Airlines fuselage — a plug over what was previously a door — ripped away mid-flight.

The FAA said in a statement at the time that each plane would have to undergo an eight-hour safety inspection before it's allowed to carry passengers again.

Related stories

Boeing Chairman Steve Mollenkopf has reached out directly to several airlines following the company's recent struggles, Bloomberg reported . Mollenkpf's move came after Ryanair CEO Michael O'Leary said that Boeing showed a "lack of attention to detail."

"In 2022 and 2023, we were finding little things like spanners under the floorboards, in some cases, seat handles missing, things like that," O'Leary told CNN in March .

The FAA told Business Insider that it is investigating the incident. Boeing referred BI to Southwest Airlines when reached for comment on Sunday.

The Alaska Airlines blowout in January has brought increased scrutiny around Boeing's quality control in the following months.

Following the incident, the Federal Aviation Administration announced it would investigate Boeing's manufacturing process.

The FAA revealed in March that its probe found "multiple instances where the companies allegedly failed to comply with manufacturing quality control requirements." The agency also noted that it had found 27 areas in Boeing's safety procedures that were insufficient.

After the Alaska Airlines incident, several key executives, including Boeing CEO Dave Calhoun , announced that they would resign.

In a press release, the plane manufacturer also vowed to implement more inspections on the production line and change its quality practices.

Correction: April 8, 2024 — An earlier version of this story failed to identify the plane model involved in the incident, it is a 737-800, which is different than a 737 Max 9 or other variants. Also, the door plug that fell off of an Alaska Airlines plane was not covering where a previous door had been; it is where a door could be. It is sealed at the factory. 

Watch: Thousands of bags pile up at US airports after flight cancellations

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Studio owners revise plans for $1-billion update of historic Television City

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The owners of Television City have scaled back their plans to enlarge and modernize the landmark Los Angeles studio where CBS began making shows to broadcast nationwide at the dawn of the television age.

Formerly known as CBS Television City, the studio sits next to popular tourist attractions the Original Farmers Market and the Grove shopping center in the Fairfax district where it has been operating since 1952 as a factory for such hit shows as “All in the Family,” “Sonny and Cher” and “American Idol.”

CBS sold the famous studio for $750 million in 2019 to Hackman Capital Partners, one of the world’s largest movie lot owners and operators. CBS continues to occupy Television City as a tenant.

Hackman Capital announced a $1.25-billion plan two years ago to expand and upgrade facilities on the lot at Beverly Boulevard and Fairfax Avenue in hopes of harnessing strong demand in the region for soundstages, production facilities and offices for rent on studio lots.

Hackman Capital on Friday will update its application to the city to enhance the studio, saying it is responding to feedback about the project from nearby residents, stakeholders and city officials. If approved, the new project is expected to be completed by 2028.

The studio owners also brought in a new design architect, Foster + Partners. The London-based firm is led by Norman Foster, a prominent architect whose designs include the pickle-shaped Gherkin skyscraper in London and the master plan for the $2-billion One Beverly Hills condominium and hotel complex under construction in Beverly Hills.

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Hackman Capital, which operates studios in the U.S., Canada and U.K., is also responding to changing conditions in the office rental market, which has contracted since the COVID-19 pandemic drove many companies to work remotely at least some of the time. Plans still call for creating new offices, but there would be fewer of them.

Foster’s new design eliminates a 15-story office tower on the west side of the lot, cutting 150,000 square feet of offices to rent to entertainment-related firms. Another 15-story office tower remains in the plan, but other building heights have been lowered, particularly along the perimeters, Hackman Capital said.

The plan still represents an addition of more than 980,000 square feet to the 25-acre site at Beverly Boulevard and Fairfax Avenue that retains a suburban-style low-density appearance with soundstages, low-rise offices and support facilities flanked by asphalt parking lots.

The company’s proposal calls for combining old and new space to create 700,000 square feet of offices to support production on the lot and an additional 550,000 square feet of offices for rent to entertainment and media companies, the company said.

Office space behind studio gates is in high demand in the Los Angeles area and has been snapped up at other studios by such big Hollywood players as Netflix and Amazon.

“The industry wants to have a location where they can do production and have offices in a self-contained campus environment,” said real estate broker Jeff Pion of CBRE, who represents Hackman Capital. “Having all of the different components that make up production in one location is very attractive to the industry.”

Plans for Television City also call for a new commissary and more than four acres for production base camps. The streetscapes would be improved to be more visually appealing to passersby, with wider sidewalks.

On Fairfax Avenue, where pedestrians now pass by a fenced parking lot, there would be shops and restaurants serving the public on the ground floor of office buildings that could be reached only from inside the lot.

Company Town

CBS sells Television City for $750 million to Los Angeles real estate developer

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The separation is part of the balancing act Hackman Capital is attempting to make Television City feel more friendly to the neighborhood while retaining the security and exclusivity of a closed campus that appeals to celebrities and others who make movies and television shows.

Landlords can also charge a premium for office space on movie lots because they are close to the action for independent production companies and offer the cachet prized by many in the entertainment industry.

Filming activity in Los Angeles has fallen off substantially in the wake of strikes by writers and actors last year, according to FilmLA , a nonprofit organization that tracks on-location shoot days and filming permits in the region. The downward trend compounded a dip that emerged in late 2022 as on-location filming in Los Angeles took a dive as studios pared back movie and TV production that surged during the COVID-19 pandemic.

California is finding it particularly hard to rebound from the strikes because it’s more expensive to shoot here, multiple production executives told The Times . That makes Los Angeles less attractive to studios looking to cut costs after major industry disruption.

To Hackman Capital Chief Executive Michael Hackman, the downturn and filming pullback from California suggest that regulators and studio operators should further support production companies.

“Our actual customers tell us all of them want to stay in Los Angeles,” he said. “We have the best crews in the world here, but we don’t have enough modern soundstages in premier locations. We also have to push the state on tax incentives so that we don’t lose business outside of the city.

“The entertainment industry is our city signature industry and if we don’t invest in the future, we’re really at risk of losing it,” Hackman said. “We’re still emerging from a once-in-a-generation dual strike. And the production stoppage cost Angelenos approximately $6.5 billion or more in lost wages and economic activity, which makes it clear how important this industry is to our city, and especially the people who work in entertainment every day.”

Hackman Capital’s proposal calls for raising the number of Television City stages to at least 15, from 8, along with production support facilities.

To make room for the planned additions, parking would be converted from surface lots to garage structures and underground spaces capable of parking 4,930 vehicles.

Two stages built in the 1990s on the east side of the lot would be demolished as part of a planned reconfiguration of the site.

The four original stages built by CBS in 1952 would be preserved along with other historical design elements created by Los Angeles architect William Pereira, who also designed such noteworthy structures as the futuristic Theme Building in the middle of Los Angeles International Airport and the Transamerica Pyramid office tower in San Francisco.

Pereira’s long-range plan for Television City conceived in the 1950s was expansive, said Bob Hale, creative director of Rios, the master plan architect of Hackman Capital’s proposed makeover. Hale said Pereira’s original concept called for the complex to grow to 24 stages and 2.5 million square feet of production space, including several multistory office buildings.

“It was built in a way that it could be disassembled and incrementally extended,” Hale said. “For a number of reasons, that didn’t happen.”

In an effort to make it happen now, Hackman Capital set out to get the support of Councilwoman Katy Yaroslavsky and the surrounding community. Over five years, the company met with nearly 3,000 neighbors, Hackman Capital said.

Among the groups supporting the project are the Holocaust Museum LA, Los Angeles Conservancy, Los Angeles/Orange Counties Building and Construction Trades Council, Mid City West Neighborhood Council and FilmLA, Hackman Capital said.

The first proposal drew fire from neighboring businesses the Grove and Farmers Market, which sent letters to residents in 2022 calling the Television City project a “massively scaled, speculative development which, if approved, would overwhelm, disrupt, and forever transform the community.”

In July 2022, an executive representing Grove owner Rick Caruso appeared before a committee of the Mid City West Neighborhood Council and said the Television City project would create “complex” issues for the neighborhood, including traffic, parking and construction. Caruso himself has said he does not oppose the redevelopment of Television City.

The Beverly Fairfax Community Alliance, which was founded by the Grove and Farmers Market, has been more blunt, warning that the expanded site would clog Fairfax Avenue, Beverly Boulevard, La Brea Avenue and 3rd Street with traffic.

“Even those accustomed to living with L.A. traffic and parking nightmares will be shocked at how much worse it can be,” the group said on its website.

To address such concerns, Hackman Capital said the new plan will reduce the number of estimated daily car trips to Television City by 5,000 to 8,700. The landlord also plans to move its “mobility hub” from The Grove Drive on the east side to Fairfax at 1st Street on the west side of the lot. The mobility hub would serve public transit, rideshares and other passenger drop-offs as well as employee shuttle buses to the subway stop being built at Fairfax and Wilshire Boulevard.

“Our goal with Television City, particularly along the perimeter on our public edges, was to find a really great interface with the community. So it wasn’t just a studio with a blank wall, but we were active and engaged,” said Brian Glodney, a development executive for Hackman Capital.

Community members told Hackman Capital said they want the streets outside the studio to have a sense of connection between mom-and-pop businesses on Fairfax, the Farmers Market, the Grove and Pan Pacific Park, Glodney said.

Outlets on the edge of the lot such as shops and restaurants will be limited to a total of 20,000 square feet, he said, “just enough to help activate the streets but not compete with our neighbors.”

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