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Didn't find what you are looking for.

The answer is simple.

It’s an informal business plan that can convince you that your idea makes sense to the outside world because you are investing your time, money, and everything into that idea.

To write a business plan, maybe you think you don’t need a step-by-step guide or a sample business plan . After all, some entrepreneurs achieved success without writing a business plan. With great timing, past business experiences, entrepreneurial ambitions, and a little luck, some entrepreneurs build successful businesses without even writing an informal business plan.

But the odds are greater than those entrepreneurs fail.

And that’s why writing a business plan will help you succeed .

The easiest way to simplify the work of writing a business plan is to start with sample business plans.

What is business plan sample?

Why you should refer a business plan example, who should use business plan examples, how to use sample business plans.

What is Business Plan Sample?

That’s why we created business plan examples to help you get started.

Use our 400+ business plan examples written for all industries and write your business plan in half of the time with twice the impact.

• Guidance on what to include in each section.  If you’ve never attended business school, you might never have created a  SWOT analysis   or a balance sheet before. Business templates that give guidance — in plain language — about what to include and how to fill in each section and create a complete and effective plan.
• A business plan is vital to get an investment.  If you’re seeking investment for your business, you’ll need to convince banks and investors why they should invest in your business . Lenders and investors will only risk their time and money if they’re certain that your business will be successful and profitable and they will get a great return on their investment.
• A business plan can help you prioritize.  A complete, well-balanced business plan is one of the most valuable tools in assisting you to reach your long-term goals. It gives your business direction, defines your goals, outlines out strategies to reach your goals, and helps you to manage possible bumps in the way.

Who should use Business Plan Examples?

Well Everyone, who wants to write a business plan should use these sample business plans. These plans apply to almost all industries.

We have created a library of professional sample business plans from a wide variety of industries to help you start writing your business plan with minimum effort.

Use our Upmetrics — business plan software that offers step by step guide to start writing your business plan , especially if you’re writing an informal business plan to get a bank loan or outside investment.

Our extensive sample business plans library includes  business plan templates  and  business plan examples  for almost all business industries.

Make your plan in half the time & twice the impact with Upmetrics.

How to use Business Plan Examples to write your own?

Having real-life and industry-specific business plan examples by your side can be incredibly resourceful to help you write a business plan from scratch. 

A well-planned structure helps you outline your plan, while content inspiration helps you set the tone for your business document. 

Let’s dive deep and understand how to use these examples effectively to write your business plan.

1. Use examples as a guide

2. understanding the structure.

Traditional business plans generally follow a similar structure. 

It starts with an executive summary followed by a company description, market analysis, product and services, sales and marketing strategies, operational plan, management team, financial plan, and appendix.

Using an example business plan is the best way to understand the structure and outline your plan. 

3. Gaining Inspiration

Reading industry-specific business plan examples can help you gain inspiration for your plan. You can gain insights on presenting your business idea, vision, mission, and values and persuade investors to invest in your idea.

4. Learning Industry-Specific Language

There’s no universal template for business planning that fits all. An industry-specific template can help you learn and understand the business language for your industry and the best way to communicate your message to your investors.

5. Identifying Key Elements

Reading business plan examples of similar businesses can help you identify the key elements and information to include in your plan. You can keep note of these and ensure everything necessary for investors to consider is present in your final draft.

6. Crafting Financial Projections

A financial plan is a critical component of your business plan, and a good business plan example can help you better understand how they project their financials which can be incredibly helpful while forecasting yours.

7. Refining Your Executive Summary

As mentioned earlier, your executive summary is a key factor influencing potential investors and lenders to invest or lend you money. Analyzing free business plan templates can help you optimize your executive summary to make it more brief, persuasive, and attention-grabbing.

8. Realizing What Works and What Doesn’t

Analyzing industry-specific and real-life examples can help you determine what works best and what doesn’t within your industry. Understanding these factors can help you avoid many significant pitfalls.

While business plan examples can be incredibly helpful in writing a plan from scratch, ensure your plan is customized for your business and sends out a unique message. Your business plan must reflect its unique idea, vision, and target market.

Using your Business Plan as a Management Tool

It’s essential to have a business plan, but it’s also crucial to keep it up to date as your business progresses. A business plan is not merely a document that you write once and forget after you get started. It’s a business road map and vision that you should develop as your business progresses and evolves. It’s also important to update your business plan regularly as your business situation and position change.

How Business Plan Software can help you?

We have created Upmetrics — business plan software to simplify the process of business planning.

Our financial forecasting module will create all the essential reports automatically. You just need to enter numbers and the application will do all the math to generate your financial reports. Later you can embed those reports into your business plan.

After completing your business plan, you can download your business plan in PDF or DOC file using Upmetrics. Also, you can share it online with investors or with other important people just by a quick link.

Ready to take the next step?

Now that you have a business idea and you know how to write a business plan, it’s time to go for it . Our business plan software will take you through each step outlined above in more detail so there are no surprises on your journey.

Simplifying Business Planning through AI-Powered Insights.

Founder, CEO & Lead Scientist at Nanolyse Technologies

After trying Upmetrics, I wish to highly recommend this app to anyone who needs to write a business plan flexibly and to a high standard.

Frequently Asked Questions

What is sample business plan, how do i write a business plan.

In business plan writing you will need to write the following sections into your business plan. These sections include an Executive Summary, Company Overview, Problem Analysis, The Solution, Market Analysis, Customer Analysis, Competitive Analysis, SWOT Analysis, Marketing Plan, Operations Plan, and Financial Plan.

Check out our article to learn how you can write these sections in detail for your business plan.

How long should my business plan be?

The length of your business plan depends on the type of plan you choose. There are one-page business plans that offer easy and practical planning. Then you have traditional business plans that usually vary from 20 to 50 pages. It’s worth noting that the quality of your business plan matters more than its length.

Should I hire someone to write my business plan for me?

Absolutely No, You as a business owner know all about your business idea, your business goals, target market and audience, and what you want to achieve by writing your plan. Don’t hire someone who doesn’t know what your readers will want, the reason is that, if you intend to raise funds, you are the best person that understands what investors will look out for in your business plan.

Consultants or  business plan writers  definitely can write a business plan but not better than you.

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550+ Business Plan Samples To Inspire Your Plan

Inspire your own plan with 550+ business plan samples

Use real business plan examples to jump-start your own plan!

Don’t start from scratch — get a headstart with 550 real business plan examples

How do you know what elements to include in your business plan, if you’ve never written one before? Looking at real business plan samples can help you visualize what a successful plan looks like, so you know what you’re aiming for before you get started. With LivePlan you’ll have access to over 550 free example business plans to use as a starting point.

Access our full library and browse real sample content for a broad range of businesses. You’ll see how others have written effective executive summaries, planned marketing activities, created financial forecasts , and more. Plus we’ll be right there to walk you through it .

Whether you run a dentist office or dog walking service, you’ll find examples of a business plan for every type of business.

Whether you’re a small- or mid-sized business, freelancer, nonprofit, or still figuring that out, we’ve got you covered.

LivePlan’s library of business plan samples has real business plans from 150 industries and growing. You can see the complete list here .

It’s OK if you can’t find an exact match to your business. You don’t need an exact match for a sample plan to be helpful. Instead, look for a plan that’s closely related to the type of business you’re starting. For example, if you want to start a vegetarian restaurant, a plan for a steakhouse will still be a great match.

While the specifics of your actual business will differ, the elements you’ll want to include in your restaurant’s business plan are similar—and they’re all included in LivePlan .

Real business plan examples to save you time

Read through as many sample business plans as you like to see how it’s done and get inspired. And if you really want to, you can even copy and paste sections to use in your own plan.

We’ve collected sample plans over more than 20 years, most through generous donations from happy customers who used our software and wanted to share their successful business plan samples with others.

Get LivePlan in your classroom

Are you an educator looking for real–world business plan examples for your students? With LivePlan, you give your students access to industry–best business plan samples, and help them set goals and track metrics with spreadsheet–free financial forecasts. All of this within a single tool that includes additional instructional resources to work seamlessly alongside your current classroom setup.

With LivePlan, it’s not just a classroom project. It’s your students planning for their futures. Click here to learn more about business planning for students.

Built-in examples and step-by-step help so you won’t get stuck

In addition to complete sample plans, LivePlan includes specific examples for each part of your business plan. Browse through a few examples to get an idea of how other businesses have worded their executive summary, for instance, or other key sections of the business plan. Find an example that works for you and personalize it to fit your business.

You’ll be confident that your numbers are right

In addition to sample business plans, LivePlan includes current industry benchmarks so you can see what the numbers look like for businesses just like yours. Knowing your industry standards helps ensure that your plan is both competitive and realistic.

Download a free sample business plan

Download a free business plan today. You can use it as a template for your own business plan and to see an example of what you’ll find in LivePlan. Download my free business plan .

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How to Build a Detailed Business Plan That Stands Out [Free Template]

Updated: March 29, 2022

Published: March 11, 2022

While starting a company may seem easier now than ever before, entrepreneurs have an uphill battle from the moment they start a business. And without a clear, actionable business plan for selling, marketing, finances, and operations, you're almost destined to face significant challenges.

This is why crafting a business plan is an essential step in the entrepreneurial process.

In this post, we'll walk you through the process of filling out your business plan template, like this free, editable version :

Download a free, editable one-page business plan template.

We know that when looking at a blank page on a laptop screen, the idea of writing your business plan can seem impossible. However, it's a mandatory step to take if you want to turn your business dreams into a reality.

That's why we've crafted a business plan template for you to download and use to build your new company. You can download it here for free . It contains prompts for all of the essential parts of a business plan, all of which are elaborated on, below.

This way, you'll be able to show them how organized and well-thought-out your business idea is, and provide them with answers to whatever questions they may have.

Free Business Plan Template

The essential document for starting a business -- custom built for your needs.

• Outline your idea.
• Pitch to investors.
• Secure funding.
• Get to work!

You're all set!

Click this link to access this resource at any time.

Building a Successful Business Plan

In the next section, we'll cover the components of a business plan , such as an executive summary and company description. But before we get to that, let's talk about key elements that should serve as building blocks for your plan.

For some entrepreneurs, the thought of writing a business plan sounds like a chore — a necessary means to an end. But that's a bad take.

A solid business plan is a blueprint for success . It's key to securing financing, presenting your business, outlining your financial projections, and turning that nugget of a business idea into a reality.

At the core, your business plan should answer two questions: why your business and why now?

Investors want to know why your business is entering the market, i.e. what problem it's solving and how it's different from what's currently out there. They also want to know why now is the right time for your type of product or service.

At a minimum, your plan should:

• Be more realistic than idealistic: Too often, business plans focus too much on how things could be instead of how they are. While having a vision is important, your plan needs to be rooted in research and data.
• Legitimize your business idea : If an idea fails on paper, it's a signal to go back to the drawing board. In doing so, you avoid losing precious time or money chasing an unrealistic idea.
• Position your business for funding: To get your business off the ground, chances are you'll need financial backing. Even with a solid business idea, investors, lenders, and banks still need convincing. An effective business plan will outline how much money you need, where it's going, what targets you will hit, and how you plan to repay any debts.
• Lay the foundation: Investors focus on risk – if anything looks shaky, it could be a dealbreaker. Ideally, your business plan will lay down the foundation for how you'll operate your business — from operational needs to financial projections and goals.
• Communicate your needs: It's nearly impossible to communicate your needs if you don't know what they are first. Of course, a business’ needs are always changing — but your plan should give you a well-rounded view of how your business will work in the short and long term.

So back to the question of why and why now – consider three things:

• Your industry – How does your product or service fit within your industry? Are you targeting a specific niche? Where do you see the industry going in the next five to 10 years?
• Your target audience – Who are you targeting? What challenges are they facing? How will your product or service help them in their daily lives?
• Your unique selling proposition (USP) – What sets you apart from your competitors? Is it your product/service features? Your company values? Price?

Once you know the answers to these questions, you'll be equipped to answer the question: why your business and why now.

How to Build a Business Plan

• Executive Summary
• Company and Business Description
• Product and Services Line
• Market Analysis
• Marketing Plan
• Legal Notes
• Financial Considerations

Featured Resource: Free Business Plan Template

1. cover page.

Your business plan should be prefaced with an eye-catching cover page. This means including a high-resolution image of your company logo, followed by your company's name, address, and phone number.

Since this business plan will likely change hands and be seen by multiple investors, you should also provide your own name, role in the business, and email address on the cover page.

At the bottom of this page, you can also add a confidentiality statement to protect against the disclosure of your business details.

The statement can read as follows: " This document contains confidential and proprietary information created by [your company name]. When receiving this document, you agree to keep its content confidential and may only reproduce and/or share it with express written permission of [your company name] ."

Remember to keep your cover page simple and concise — and save the important details for other sections.

Why it matters: First impressions are everything, and a clean cover page is the first step in the right direction.

Example of a Cover Page

2. Executive Summary

The executive summary of your business plan provides a one- to two-page overview of your business and highlights the most crucial pieces of your plan, such as your short-term and long-term goals.

The executive summary is essentially a boiled-down version of your entire business plan, so remember to keep this section to the point and filled only with essential information.

Typically, this brief section includes:

• A mission statement.
• The company's history and leadership model.
• An overview of competitive advantage(s).
• Financial projections.
• Company goals.
• An ask from potential investors.

Why it matters: The executive summary is known as the make-or-break section of a business plan. It influences whether investors turn the page or not — so effectively summarizing your business and the problem it hopes to solve is a must.

Think of the Summary as a written elevator pitch (with more detail). While your business plan provides the nitty-gritty details, your Summary describes — in a compelling but matter-of-fact language — the highlights of your plan. If it's too vague, complicated, or fuzzy, you may need to scrap it and start again.

Example of an Executive Summary Introduction

"The future looks bright for North Side Chicago, particularly the Rock Hill Neighborhood. A number of high-end commercial and residential developments are well on their way, along with two new condo developments in nearby neighborhoods.

While the completion of these developments will increase the population within the neighborhood and stimulate the economy, the area lacks an upscale restaurant where residents and visitors can enjoy fine food and drink. Jay Street Lounge and Restaurant will provide such a place."

3. Company & Business Description

In this section, provide a more thorough description of what your company is and why it exists.

The bulk of the writing in this section should be about your company's purpose – covering what the business will be selling, identifying the target market, and laying out a path to success.

In this portion of your business plan, you can also elaborate on your company's:

• Mission statement
• Core values
• Team and organizational structure

Why it matters: Investors look for great structures and teams in addition to great ideas. This section gives an overview of your businesses' ethos. It's the perfect opportunity to set your business apart from the competition — such as your team's expertise, your unique work culture, and your competitive advantage.

Example of a Values/Mission Statement

"Jay Street Lounge and Restaurant will be the go-to place for people to get a drink or bite in an elegant, upscale atmosphere. The mission is to be North Side's leading restaurant, with the best tasting food and the highest quality service."

3. Product & Services Line

Here's where you'll cover the makeup of your business's product and/or services line. You should provide each product or service's name, its purpose, and a description of how it works (if appropriate). If you own any patents, copyrights, or trademarks, it's essential to include this info too.

Next, add some color to your sales strategy by outlining your pricing model and mark-up amounts.

If you're selling tangible products, you should also explain production and costs, and how you expect these factors to change as you scale.

Why it matters: This section contains the real meat of your business plan. It sets the stage for the problem you hope to solve, your solution, and how your said solution fits in the market.

There's no one-size-fits-all formula for this section. For instance, one plan may delve into its ability to market in a more cost-effective way than the competition, whereas another plan focuses on its key products and their unique features and benefits.

Regardless of your angle, it's critical to convey how your offerings will differ from the competition.

Example of a Product/Service Offering

"The menu at Jay Street Lounge and Restaurant will focus on Moroccan cuisine. The stars of the menu (our specialties) are the Moroccan dishes, such as eggplant zaalouk, seafood bastilla, tagine, and chickpea stew. For those who enjoy American dishes, there will also be a variety of options, from burger sliders and flatbread pizza to grilled steak and salads.

The food at Jay Street will have premium pricing to match its upscale atmosphere. During the summer months, the restaurant will have extra seating on the patio where clients can enjoy a special summer menu. We will be open on all days of the week."

4. Market Analysis

It helps to reference your market research documentation in this section, like a Porter's Five Forces Analysis or a SWOT Analysis ( templates for those are available here ). You can also include them in your appendix.

If your company already has buyer personas, you should include them here as well. If not, you can create them right now using the Make My Persona Tool .

Why it matters: Having an awesome product is, well, awesome — but it isn't enough. Just as important, there must be a market for it.

This section allows you to dig deeper into your market, which segments you want to target, and why. The "why" here is important, since targeting the right segment is critical for the success and growth of your business.

It's easy to get lost (or overwhelmed) in a sea of endless data. For your business plan, narrow your focus by answering the following questions:

• What is my market? In other words, who are my customers?
• What segments of the market do I want to target?
• What's the size of my target market?
• Is my market likely to grow?
• How can I increase my market share over time?

Example of a Market Analysis

"Jay Street Lounge and Restaurant will target locals who live and work within the Rock Hill Neighborhood and the greater North Side Chicago area. We will also target the tourists who flock to the many tourist attractions and colleges on the North Side.

We will specifically focus on young to middle-aged adults with an income of $40,000 to $80,000 who are looking for an upscale experience. The general demographics of our target market are women between 20 to 50 years old.

A unique and varied Moroccan-American menu, along with our unique upscale atmosphere, differentiates us from competitors in the area. Jay Street will also set itself apart through its commitment to high-quality food, service, design, and atmosphere."

5. Marketing Plan

Unlike the market analysis section, your marketing plan section should be an explanation of the tactical approach to reaching your aforementioned target audience. List your advertising channels, organic marketing methods, messaging, budget, and any relevant promotional tactics.

If your company has a fully fleshed-out marketing plan, you can attach it in the appendix of your business plan. If not, download this free marketing plan template to outline your strategy.

Free Marketing Plan Template

Outline your company's marketing strategy in one simple, coherent plan.

• Pre-Sectioned Template
• Completely Customizable
• Example Prompts
• Professionally Designed

Why it matters: Marketing is what puts your product in front of your customers. It's not just advertising — it's an investment in your business.

Throwing money into random marketing channels is a haphazard approach, which is why it's essential to do the legwork to create a solid marketing plan.

Here's some good news — by this point, you should have a solid understanding of your target market. Now, it's time to determine how you'll reach them.

Example of a Marketing Plan Overview

"Our marketing strategy will focus on three main initiatives:

• Social media marketing. We will grow and expand our Facebook and Instagram following through targeted social media ads.
• Website initiatives. Our website will attract potential visitors by offering updated menus and a calendar of events.
• Promotional events. Jay Street will have one special theme night per week to attract new clients."

6. Sales Plan

It doesn't matter if your sales department is an office full of business development representatives (BDR) or a dozen stores with your products on their shelves.

The point is: All sales plans are different, so you should clearly outline yours here. Common talking points include your:

• Sales team structure, and why this structure was chosen.
• Sales channels.
• Sales tools, software, and resources.
• Prospecting strategy.
• Sales goals and budget.

Like with your marketing plan, it might make sense to attach your completed sales plan to the appendix of your business plan. You can download a template for building your sales plan here .

Why it matters: Among other things, investors are interested in the scalability of your business — which is why growth strategies are a critical part of your business plan.

Your sales plan should describe your plan to attract customers, retain them (if applicable), and, ultimately, grow your business. Be sure to outline what you plan to do given your existing resources and what results you expect from your work.

Example of a Sales Plan Overview

"The most important goal is to ensure financial success for Jay Street Lounge and Restaurant. We believe we can achieve this by offering excellent food, entertainment, and service to our clients.

We are not a low-cost dining option in the area. Instead, the food will have premium pricing to match its upscale feel. The strategy is to give Jay Street a perception of elegance through its food, entertainment, and excellent service."

7. Legal Notes

Your investors may want to know the legal structure of your business, as that could directly impact the risk of their investments. For example, if you're looking for business partners to engage in a non-corporation or LLC partnership, this means they could be on the line for more than their actual investment.

Because this clarification is often needed, explain if you are and/or plan to become a sole proprietor, partnership, corporation, LLC, or other.

You should also outline the steps you have taken (or will need to take) to operate legally. This includes licenses, permits, registrations, and insurance.

The last thing your investor wants to hear after they've sent you a big chunk of change is that you're operating without proper approval from the local, state, or federal government.

Why it matters: The last thing your investor wants to hear after they've sent you a big chunk of change is that you're operating without proper approval from the local, state, or federal government.

Example of Legal Notes

"Jay Street Lounge and Restaurant is up-to-date on all restaurant licenses and health permits. Our business name and logo are registered trademarks, presenting the possibility of expanding locally."

8. Financial Considerations

Ultimately, investors want to know two things:

• When they will earn their money back.
• When they will start seeing returns on their initial investment.

That said, be clear, calculated, and convincing in this section. It should cover:

• Startup costs.
• Sales forecasts for the next several months/quarters.
• Break-even analysis for time and dollars.
• Projected profit and loss (P&L) statement.

Facts and figures are key here, so be as specific as possible with each line item and projection. In addition, explain the "why" behind each of these sections.

However, keep in mind that information overload is a risk, especially when it comes to data. So, if you have pages upon pages of charts and spreadsheets for this section, distill them into a page or two and include the rest of the sheets in the appendix. This section should only focus on key data points.

Why it matters: One of the most important aspects of becoming "investor ready" is knowing your numbers. More importantly, you need to understand how those numbers will enhance your business.

While it's easy to write a number down on paper, it's more important to understand (and communicate) why you need capital, where it's going, and that your evaluation makes sense.

Example of Financial Projections

"Based on our knowledge and experience in the restaurant industry, we have come up with projections for the business.

Starting with an expenditure of $400,000 in year 1, we forecast sales of $1,500,000 and $2,800,000 for years two and three. We expect to achieve a net profit of 15% by year three."

9. Appendix

A detailed and well-developed business plan can range anywhere from 20 to 50 pages, with some even reaching upward of 80.

In many cases, the appendix is the longest section. Why? Because it includes the supportive materials mentioned in previous sections. To avoid disrupting the flow of the business plan with visuals, charts, and spreadsheets, business owners usually add them in the last section, i.e. the appendix.

Aside from what we've already mentioned – marketing plan, sales plan, department budgets, financial documents – you may also want to attach the following in the appendix:

• Marketing materials
• Market research data
• Licensing documentation
• Branding assets
• Floor plans for your location
• Mockups of your product
• Renderings of your office space or location design

Adding these pieces to the appendix enriches the reader's understanding of your business and proves you've put the work into your business plan without distracting from the main points throughout the plan.

Why it matters: An appendix helps the reader do their due diligence. It contains everything they need to support your business plan.

Keep in mind, however, that an appendix is typically necessary only if you're seeking financing or looking to attract business partners.

Use a Business Plan Template to Get Started

Writing a business plan shouldn't be an insurmountable roadblock to starting a business. Unfortunately, for all too many, it is.

That's why we recommend using our free business plan template. Pre-filled with detailed section prompts for all of the topics in this blog post, we're confident this template will get your business plan started in the right direction.

Editor's note: This post was originally published in June 2017 and has been updated for comprehensiveness.

Don't forget to share this post!

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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?

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How to Manufacture a Product (in 15 Simple Steps)

How much does it cost to manufacture a product?

Step 1. the idea.

• Most manufacturers require a minimum order quantity or amount spent.
• Each product you create will often need to meet the minimum amount for custom manufacturing.
• Raw materials from China only make sense with large quantities.
• The farther you are from a manufacturer, the harder it is to perform quality control and logistics management.
• Found the right manufacturer
• Mastered the process from design to manufacturing
• Successfully sold the finished product

Step 2. Design or Sketch the Product Idea.

• Metadata of digital files : Enables experts to track the date of the original idea
• Include it on a physical drawing : Put a date on the drawing, then take a picture, and immediately email it to yourself.
• Get it notarized: This is going a bit far, but if it’s that valuable it might be worth it to have a notary witness you sign and date the document.

Step 3. Find A Product Development Consultant

Business documents to protect your idea .

• Non-Disclosure Agreement : This is to protect against people disclosing information about any confidential information.
• Non-Compete Agreement: This is to protect against a person or company using information they gain to create their own product.
• Exclusivity Agreement: This is to prevent a company from using your equipment. UpCounsel (not related) has a good breakdown of what should be included .

Step 4. Source Materials for the Prototype

• Local craft stores
• Places that own 3D printers
• Machine shops
• Recycling yards

Step 5. Create the Prototype

• Self-produce 
• Work with a print shop
• Work with a local seamstress
• Work with craftspeople
• Hire a manufacturer who manufactures prototypes

Perform in Parallel

• Test the Prototype
• Apply for Patents and Trademarks
• Create Cutsheet or Manufacturer Specifications
• Find and Purchase Bulk Materials
• Find Quality Manufacturers

Step 6. Test the Prototype

• Do you have difficulty getting your dog to stay still for pictures?
• Does your dog like tennis balls? If not, what do you think they’d like more?
• How often do you think you’d use this product?
• If you saw this product in stores, how much would you expect to pay?
• How many tennis balls would you want to come with the product?
• Where would you expect to see this product?

Step 7. Apply for Trademarks and Patents

• Articles of Manufacture
• Compositions of matter
• Is it unique? More specifically, is there a similar type of product already on the market?
• Is it useful?
• Is it obvious? If it is obvious it cannot be patented, so make it a point to prove it is not obvious. Remember, once something has been created, it is obvious why it makes sense.

Step 8. Create a Cutsheet (Manufacturer Specifications)

• Identifying Information : Business name, product name, model number, style number
• Date : Show when the tech pack was created. Helps protect and defend theft of IP
• A picture : Help manufacturers and suppliers see what it looks like
• Measurements : All measurements necessary to properly manufacture the product for each size of the product
• Colors : Use the form #000000 (black) to #ffffff (white). Identify colors at color-hex.com . Create a different sheet for each variation of colors for materials.
• Product care information: The tags on clothes should follow specifications outlined in coats.com’s product care standards blog . 
• Technical information : Volts, watts, amps, anything needed for it to run properly
• Materials : Type of material, description of the material, color, quantity, supplier
• Notes : Any notes needed to help the manufacturing company create the product

Brief interlude to explain shipping’s impact on the process

• Documentation, customs clearance, handling, and inland shipping: 17-33 days
• Time shipping from overseas to US: 14-30 days (sustainable solutions up to 120 days)
• Shipping time once in US: 6 days
• Total time in shipping: 37-69 days
• Order fabric from China and ship to US: 69 Days and $1,200+
• Review fabric order to verify it is correct: 3 days
• Ship to manufacturer in Cambodia: 69 days and $1,200+
• Manufacturing time: 30 days
• Ship to a distribution center: 69 days and $1,200+
• Locally-owned manufacturer and supplier
• Regional manufacturing partners
• National manufacturing partner and supplier
• Overseas manufacturers and supplies

Step 9. Research Bulk Materials and Find a Supplier

• Thomasnet : Search for suppliers by product or service, brand name, or company Name. You can also browse by industry, find buyers, and get industry insights from them.

• Global Sourcing Specialists : If you want someone to help you with the whole process, I’d start out by contacting GSS. They will help you with sourcing, manufacturing, and quality control. This is more of a consulting company, but worth the mention.
• Maker’s Row : Costs $60-$150 a month, plus an additional 10% for each seat on team accounts. Maker’s row connects customers with more than 10,000 manufacturers and suppliers. I’d try free sites first, but this site appears to be related to the MAGIC tradeshow (see next bullet point for more info on the show).
• MAGIC Fashion Events : There are five events every year that include a trade show. Manufacturing companies and fabric suppliers go to Las Vegas, New York City, and Nashville to show off their newest fabrics, manufacturing equipment, and have a blast. I went for a client several years ago. It stimulated my creative juices.

Step 10. How to Find a Manufacturing Company to Manufacture Your Product

How to manufacture a product in usa.

• Ability to scale from small batches to mass production
• Speed of delivery
• Deviation from the standard of manufacturer goods

How to find overseas manufacturers

• Trading companies : They might pose as a manufacturer, but a trading company can not actually manufacture goods.
• Working conditions : An overseas manufacturer may have working conditions that your target frowns upon. When considering how to manufacture a product in China, you may not want to pay kids working on factory floors. That could become a PR nightmare.
• Manufacturer company time zone : Working with a manufacturer that is on the other side of the planet can complicate business communication. If you aren’t down for 11:00 PM meetings, look for other manufacturers.
• Costly to visit the manufacturer : While visiting a shop supplier and manufacturing company overseas is something you should do, it becomes much more costly than driving to the nearest manufacturing hub in the U.S. 

Step 11. Compare Manufacturing Costs 

• Name : First column
• Location : Second column. Use city or country
• Price : Third column. Use quotes. Lowest = highest score
• Distance to nearest Supplier : Fourth column. Use Google Maps. Lowest = highest score
• DIstance to me : Fifth column. Use Google maps. Lowest = highest score
• Quality Control : Sixth column. In my example, I ranked them based on engineering experience combined with my ability to be there to establish if they are up to my standard. Best = highest score
• Rank them : Best gets the highest scores in each column, then use the function =SUM (C10:E10) in cell G10, and then approve the autofill to get the totals.

Step 12. Most Manufacturers Will Negotiate

• Price: How much you pay per unit. Price tends to function inversely to how favorable the other terms are for you.
• Duration: Length of contract. Longer lengths can impact price and exclusivity terms.
• Quantity : Buy more for higher discounts.
• Manufacturer : The brand owner agrees to solely use the manufacturer.
• Brand Owner : The manufacturer agrees not to manufacture competitive projects
• Often both will be employed to help protect each side's interests.
• Example: Pooch Selfie might have a contract where they agree to work with a manufacturer for five years, but the manufacturer cannot sell the design to Shed Defender or other pet product brands for the same five years.
• Frequency of Orders : How often do you agree to receive orders
• Shipping: Who covers what shipping costs. Often the manufacturer covers shipping in their country and the brand owner covers it once it departs the port in the manufacturer’s location.
• Upon Completion
• Upon Delivery
• Upon Sale: If you want a net-30 you need to let them know at first contact.
• Cancellation Terms : What is considered a violation of the contract? And what are the penalties?

Step 13. Begin Manufacturing

Step 14. manage logistics and quality control, step 15. packaging, how to create custom packaging, how to find generic product packaging, wrapping it all up.

Recession Proof: 7 Ways to Beat Hard Times

• What happens during recessions
• The definition of recession-proof 
• Recession-proof Industries, companies, and jobs 
• What to do in a recession
• What to do with your money
• How to protect your money
• How to make money during a recession [/su_note]

What happens in a recession?

• Eight to 12 months , or three quarters of declining demand. (The longest was the Great Recession at 18 months.)
• Unemployment rising to over 5.5%, but potentially as high as 10.8% 
• A 4% to 6% decline in year-over-year GDP, which is calculated on a modified income statement.

• People and companies reduce discretionary spending.
• People look for ways to earn extra income.
• Some increase their savings if they have extra income, then savings account balances decrease.
• Companies reduce hiring and then cut jobs when they cannot cut costs any more.
• The stock market declines.
• Banks increase requirements for loans and reduce lending to prevent defaults.
• Total personal income decreases.
• The Federal Reserve normally lowers interest rates, but interest rates, gas, and supply chain issues are responsible for the current decline in GDP.

What is recession-proof?

• Consumer staples like hygiene products
• Discount retailers
• Investments like bonds
• Education[/su_note]

What jobs are recession-proof?

• Teachers : Elementary through high school education doesn't stop because a recession occurs. According to Capital News Service , most recessions create increased demand for higher education because more consumers want to increase their job prospects by investing in their education. 2020 was an exception because people were worried about the transmission of COVID.

• Health Care Professionals : Nurses, doctors, and specialized care providers are also recession-proof careers. This goes for therapists, psychiatrists, and social workers, too.
• Government Employees : Jobs like firefighters, police, first responders, and social workers that work for the government are normally recession-proof jobs because the demand for their services stays the same or increases during a recession.
• Public Service Jobs : People still need garbage pickup, electricity, water, and other essentials to keep their home and community livable so these services make it through a rough patch virtually unscathed.
• Financial Service Providers : Taxes still have to be made, and auto insurance is still required by law. There have been two bank runs in the last hundred years, and the last one saw massive numbers of bailouts. Make sure to go with a conservatively run financial institution, and you should be fine.

What companies are recession-proof?

• Vanguard Total International Stock ETF ( VXUS ): Every country has different economic conditions. International investing can be done at a discount when the dollar is strong. When the dollar weakens again, you can see huge gains in these stocks.
• Vanguard Consumer Staples ETF ( VDC ): These are a mix of Procter & Gamble, Coke, Pepsi, Costco, Walmart, and other companies that people buy from regardless of uncertainty. Economic data show that these companies have built a recession-proof business.
• iShares 0-3 Month Treasury Bond ( SGOV ): Short-term bonds are currently performing better than long-term bonds. The peak levels are at the two-year mark. You can buy them on Treasury Direct if you prefer.
• Schwab U.S. Dividend Equity ETF ( SCHD ): Dividends are like interest paid on stocks, but you can opt for dividend reinvestment to increase your equity. When the prices go back up, you have more stock.
• Health Care Select Sector SPDR Fund ( XLV ): Healthcare spending is a major piece of the economy, regardless of what the rest of the market is doing.
• Vanguard Utilities Index Fund ETF ( VPU ): As we’ve mentioned previously, utilities are recession-proof businesses.
• SPDR Gold MiniShares ( GLDM ): Many people invest in gold to hedge against inflation when they see uncertainty.
• Vanguard S&P 500 ETF ( VOO ): Recessions often occur in different areas at different times, so investing in international stocks might pay off.

What are recession-proof Industries?

• Grocery stores: They sell food, and it’s the absolute last thing in life people can give up.
• Convenience stores: People always need gas to get to their job, and most gas stations have a contract with the gas company where the gas company keeps the gas revenue, and the market keeps the profit from the products in the store.

What to do in a recession?

• Save money as soon as your company is running a profit.
• Create a subscription service; it tends to increase the average revenue per client.
• Pay off debt every month so you can ride out a down market.
• Keep a look out for amazing investment opportunities for your portfolio. Sometimes people sign over their business just to keep from declaring bankruptcy.
• Sell underperforming assets.
• Renegotiate with vendors and landlords.
• Don’t buy anything you don’t need.
• Ask your employees to help. Dan Price almost had to lay off 20% of his company, but his employees opted for pay cuts . Everyone kept their jobs, and he paid them back after they weathered the storm.
• Lower profit margins if necessary. Sometimes lower prices will matter enough to keep customers you would lose otherwise. Remember when everywhere offered $10 pizza? Pizza places used that strategy to protect their stores from closing. Then, after the 2009 recession passed, pizza prices gradually doubled.
• Consider reducing the products and services you offer. Alternatively, add products and services businesses have requested.

What to do with your money in economic downturns

Stock Market

• Purchasing Managers Index : Shows companies are buying materials.
• Durable Goods Orders : Shows demand for industrial products.
• Jobless Claims : Weekly and monthly reports that show how many unemployment claims are being filed. When both weekly and monthly align, it is a good thing. Weekly will show changes first, but monthly will show confirmation that the weekly wasn’t an anomaly. 
• Consumer Confidence Index : This shows how confident consumers are. If consumers are confident, the economy will likely trend higher unless unforeseen events occur.

Buy Businesses

• Questions to ask
• Business valuation
• How to buy a business

How to protect your money in an economic downturn

Increase Savings Rate

Decrease unnecessary spending, reduce employees hours, reduce employee pay, how to make money during a recession.

Systemize Your Business

• Automate accounting and bookkeeping.
• Improve your marketing strategy.
• Add a subscription plan.
• Review your services to see which ones lose your money.

Get Rid of Underperforming Assets

• Work vans that are in the shop too often.
• Scrap metal you never took to the recycling yard.
• Equipment you bought thinking you need it, but you never use.

Run Promotions

Develop new skills, keep your morale up.

610 Candy Company Name Ideas

Almost everyone has a sweet tooth. People who love candy and cooking might want to consider starting a candy store or creating their own delicious treats. When you do, you’ll want to come up with some clever candy company names.

We’ve considered all the kinds of delicious treats you might serve at a candy shop and created a list of candy company name ideas for each type of candy company.

We’ve provided you with a list of over 600 different business names in a dozen categories to help you name your candy brand, and we recommend names for brick-and-mortar and online candy shops, too.

[su_note note_color="#dbeafc"]

Types of Candy Businesses

40 candy company name ideas, 44 gummy brand names, 54 chocolate company names, 22 hard candy names, 50 freeze-dried candy names, 42 candied fruit names, 44 fudge company names, 52 gum company names, 48 sour candy business names, 50 jelly bean company names, 46 candy bar name ideas, 44 cotton candy names, 50 licorice business name ideas, 24 candy store and candy shop name ideas, how to start a candy company, how to choose candy company names, candy company with the longest name.

• Do you have ideas for your candy business name? [/su_note]

Candy businesses typically fall into 12 categories. We’ll provide a list of candy company name ideas for each of the types of candy businesses below.

• Gummy brand names
• Chocolate company names
• Hard candy names
• Freeze-dried candy names
• Candied fruit names
• Fudge company names
• Gum company names
• Sour candy business names
• Jelly bean company names
• Candy bar name ideas
• Cotton candy names
• Licorice business name ideas

But first, some great names for brick-and-mortar or web-based candy companies…

1. Sugar Snap Sweets 2. Candy Crafters 3. Sweet Fusions 4. Blissful Bites 5. YumYard Confections 6. Flavor Fiesta Candy Co. 7. Candy Cloud Creations 8. Treat Trove 9. SugarRush Delights 10. Rainbow Bites 11. DelishDash Confections 12. Sweet Spire Sweets 13. Zesty Zing Candies 14. Fizzy Whirl Treats 15. Chewy Charm Confections 16. Frosted Fantasies 17. Sweetopia Sweets 18. LusciousLayers Candy Co. 19. Pop Pleasure Confections 20. Sugary Swirls

21. Delight Daze Sweets 22. Crave Crafter Candy Co. 23. Flavor Flair Confections 24. Savor Sweets Studio 25. Chewiest Charm 26. Tasty Twist Confections 27. Sprinkle Shack Sweets 28. Bubble Burst Treats 29. Dreamy Drops Candy Co. 30. Sweet Sculpt Studio 31. Confectionery Cove 32. Sugarcoat Sweets 33. BlissBloom Confections 34. Yummy Mingle Candy Co. 35. Sugar Sculpt Sweets 36. Flavor Fiesta Confections 37. Frosted Fancies 38. Sweet Dreamland Treats 39. CandyCrafter's Corner 40. Indulge Artisan Confections

Whether your clients are after nostalgic favorites like gummy bears, gummy worms, peach rings, or orange slices, or new age gummies like Seattle Gummy Company’s caffeine, sleep, and performance options, a great gummy brand needs a great name! Here are our ideas:

1. Gummy Galaxy 2. ChewyComet 3. JellyJetset 4. Squishy Stars 5. Gummy Vortex 6. Chewzilla 7. Gum Drop Galactic 8. Jelly Jive 9. Gummy Nova 10. Chewy Cosmos 11. Gummi Verse 12. Aurora Jellies 13. Squishy Stratos 14. Gummy Orbit 15. Chewy Celestial 16. Gummi-Galactica 17. Jelly Nebula 18. Squishy Starforce 19. Gummy Infinity 20. Chewy Supernova 21. Gummi Comet 22. Jelly Zephyr

23. Squish Cosmic 24. Lunar Gummies 25. Chewy Astro 26. Gummi Quasar 27. Jelly Plum 28. Squishy Eclipse 29. Gummy Meteor 30. Interstellar Chews 31. GummiAsteroid 32. Jelly Constellation 33. Squishy Rocket 34. Solar Gummies 35. ChewyNebula 36. Gummi Cosmos 37. Jel Galaxy 38. Squishy Umbra 39. Planetary Gummy 40. Chewy Phenomenon 41. Gummi Orbit 42. JellyCelestial 43. Spacewalk Gummies 44. Gummy Stratosphere

Chocolate companies are some of the most famous candy brands. Think about some of your favorite chocolate candy brands. You obviously can’t use names like M&M, Reeses, or other candy names taken by the big brands, but there are still some fun names left.

1. I Love Chocolate 2. CocoaVibe Creations 3. Choco Fiesta Delights 4. Velvet Eclipse Chocolates 5. Divine Cocoa Co. 6. Chocolate Alchemy 7. Cocoa Burst Confections 8. Rich Ripple Chocolates 9. Blissful Bite Treats 10. Choco Haven 11. Velvet Bliss Chocolatiers 12. Cocoa Savor Sweets 13. Indulge Artisan Chocolates 14. Chocolate Utopia 15. Divine Decadence Delights 16. Cocoa Sculpt Sweets 17. Temptation Truffles & Chocolates 18. Choco Fusion Studio 19. Velvet Vista Chocolates 20. Cocoa Crafters Corner 21. Sinful Sweets Chocolatiers 22. Decadent Dreamland Chocolates 23. Choco Charm Confections 24. Velvet Whirl Treats 25. Cocoa on Canvas 26. Choco-Eclat 27. ChocoZen Sweets

28. Cocoa Mingle 29. Blissful Bloom Chocolatiers 30. Great Chocolate Confession 31. Chocolate Affinity 32. Choco Sculpt 33. Velvet Vortex Chocolates 34. Cocoa Charm Delights 35. Indulge Artisan Chocolatiers 36. Hell Chocolate 37. Divine Indulgence 38. Choco Rapture 39. Cocoa-Voyage 40. Temptation Trove Chocolatiers 41. Velvet Elegance Sweets 42. Chocolate Nest Creations 43. Cocoa Whirl Treats 44. Decadent Daze Chocolates 45. Choco Haven Sweets 46. Velvet Enigma Chocolatiers 47. CocoaCrave 48. IndulgeAura Chocolates 49. Chocorhapsody Delights 50. Blissful Bite Chocolates 51. Chocolate Alchemy Co. 52. CocoaOasis 53. Divine Decadence Chocolatiers 54. Sweet Cheeks (Chocolate Buns)

Pro Tip: Whether you run a chocolate shop or make your own chocolates, there are numerous candy business names to choose from. For those of you who make your own chocolate and sell it in a chocolate shop, consider creating a chocolate fountain to delight your customers. The Bellagio Patisserie , a chocolate shop in Las Vegas, has the world’s largest chocolate fountain.

Hard candies are another of the sweet treats people can’t get enough of. From Jolly Ranchers to Dum Dums, Blow Pops, and Tootsie Pops, hard candy company name ideas range across the spectrum. Consider some of these candy company names.

1. Crystal Burst 2. Rock Craze 3. Hard Nectar 4. Everlasting Gleam 5. Lick Luster 6. Solid Bloom 7. Sparkle Crunch 8. Clear Eden 9. Eternal Crave 10. PrismPop 11. Sparkle Sphere

12. Solid Surge 13. Crystal Charm 14. Luminous Lolly 15. Glimmer Glaze 16. Radiant Rocks 17. Sugar Sheen 18. Vivid Vortex 19. Lolly-Punch 20. Glint Sweets 21. Tundra Mints 22. CrushPops

Freeze-dried candy involves removing the water from your sweet treats, leaving just the sugar. Once the process is complete, your candy business can keep the candy out of the fridge or freezer. Check out the names below for a candy company that freeze dries.

1. FrostBites 2. CrunchFrost 3. Freeze Fusion 4. Sub-Zero Sweets 5. Frosty Flakes 6. Freeze Flash 7. Ice Crystals 8. Chill Chips 9. Frost Pops 10. Arctic Crunch 11. Freeze Fruit Blasts 12. FrostFire 13. Sublime Frost 14. Freeze Fiesta 15. Frost Nuggs 16. Icy Indulgence 17. Arctic Blasters 18. Freeze Fruit Fusion 19. Frosty Fusions 20. Sub-Zero Sorbet 21. Ice Jewels 22. Frostbursts 23. Chilly Crystals 24. Freeze Fruit Sparklers 25. Frosted Flavor

26. Sublime Sorbet 27. Arctic Frost Gems 28. FreezeFruit Delights 29. Frost Bites Delights 30. Chill Charms 31. Freeze Fruit Pops 32. Frosty Fruit Gems 33. Sub-Zero Spark 34. Freeze Fruit Sparkles 35. Frost Fruit Medley 36. Icy Blasts 37. Freeze Fruit Crystals 38. Frenzy × Fruit Frost 39. Chill Blast 40. Arctic Flakes 41. Frosty Fruit Bursts 42. Freeze Fruit Rush 43. Sub-Zero Crunch Nuggets 44. Ice Crunchies 45. Frosty Fruit Blasts 46. Chill Crystals 47. Fruit Sparkle 48. Frosty Fruit Crisps 49. Sub-Zero Surge 50. Icy Fruit Blasts

Candied fruits are a type of candy made by soaking fruit in sugar until the water is replaced with sugar. Citrus fruits are popular options, and then there are dipped fruit options like candied apples, too. Whatever candying approach you’re taking, check out these names for candy businesses making candied fruits:

1. Glazed Grove Delights 2. Frosted Fruit Medley 3. Sugar Sliced Citrus 4. Candy Coated Orchard 5. Citrus Crystals Confections 6. Glazed Garden 7. Sugar Sunrise Fruits 8. Frostfruit Fusion 9. Zesty Bites Delights 10. Sugar Slice Sweets 11. Sweet Candied Orchard 12. Citrus Charm Candies 13. Frosted Fruit Haven 14. Sugar-Dipped Delights 15. Zestful Candied Fruit 16. Glazed Grove Sweets 17. Sugary Slices 18. Citrus Bliss 19. Candy Coat Orchard 20. Tangy Twist Confections 21. Gardener’s Glazed Treats

22. Sugar Savor Fruits 23. Frost Fruit Fantasy 24. Zesty Zest Treats 25. Sensations, Sliced! 26. Sweet Citrus Oasis 27. Candy Coated 28. Frosted Fruit Oasis 29. Sugar-Dusted Delights 30. Dipp’t Fruit 31. Glazed Grove Bliss 32. Sugary Slices Sweets 33. CitruGems 34. Candy Orchard Treats 35. Tangy Twist Sweets 36. Glazed Garden Delights 37. Sugar Savor Medley 38. Fruit Fantasy 39. Sugar-Slice Confections 40. SweetCitrus Haven 41. CitrusCandy Treats 42. FrostedFruitti Sensations

Fudge is another of the candy shop ideas you might consider. Be careful when you name a candy company that sells fudge. While some folks can’t resist, others might be offended by the punny wording you can tap into.

1. Fudge Finesse Creations 2. Blissful Bites Fudge Co. 3. DreamyDivine Fudge 4. Cocoa Craze Fudgery 5. Indulge Artisan Fudgery 6. Fudge Fantasy Studio 7. Cascade Fudge & Treats 8. Rich Ripple Fudges 9. Flavor Fusion Fudge Co. 10. Heavenly Hue Fudgery 11. Fudge Euphoria Delights 12. Decadent Dreamland Fudges 13. Sweet Swirl Fudge Factory 14. Divine Decadence Fudges 15. Fudge Fiesta Confections 16. Melted Moments Fudges 17. BlissfulBite Fudgery 18. Velvety Vista Fudges 19. CocoaCharm Creations 20. Luscious Layers Fudge Co. 21. Creamy Crave Fudges 22. Dreamy Drops Fudge Delights

23. Rich Rapture Fudgery 24. Flavor Flair Fudge Studio 25. Savor Sweets Fudges 26. ChewyCharm Fudgery 27. TastyTwist Fudges 28. Sprinkle Shack Fudge Co. 29. Dreamy Divine Fudges 30. Sweet Sculpt Studio 31. Fudge Fusion Creations 32. Confectionery Cove Fudges 33. Sugar Coat Fudgery 34. BlissBloom Fudge Co. 35. Yummy Mingle Fudge Factory 36. Sugar Sculpt Fudges 37. Cocoa Fiesta Fudges 38. Choco-Fancy Fudge Co. 39. Sweet Dreamland Treats 40. Fudge Crafters Corner 41. Tingle Treat Fudges 42. Cocoa Artisan Fudgery 43. Fudge Rhapsody Studio 44. Sugardoodle Candies & Fudge

Pro Tip: Your customers might not like receiving emails saying “We’re packing your fudge!” Or they might find it hysterical. Just be aware that your communications could be misinterpreted.

Chewing gum is another popular candy business. Some of the famous gum companies include Orbit, Big Red, and Juicy Fruit. Spearmint, Bubblicious, and Trident are other big gum business names. Check out some of our gum business name ideas below.

1. Jolly Gum 2. Chew-Burst 3. Flavor Fusion Gum 4. FreshFiesta 5. ZestZing Chews 6. Minty Marvels 7. BlissBite Gums 8. ChewyCharmers 9. Savor Sphere 10. BubbleBloom Chews 11. Luscious Layers Gum 12. Dazed Chew n’ Pop 13. Chew Crafters Corner 14. Pop Pleasure Gums 15. Gum Rhapsody 16. Flavor Fiesta Chews 17. Fresh Fusion Gum Co. 18. MingleMint Gums 19. ChewBliss Studio 20. Zingy Zest Gums 21. Minty Marvel Chews 22. Bubbl’d Bites 23. Chewy Charm Delights 24. Savor Sphere Gums 25. Bubble Bursts 26. Bliss Bloom Chews

27. Chew Crafters Studio 28. Tasty Twist Gums 29. Savor Sweets Chews 30. Bubble Blast Gum Co. 31. Fresh Fiesta Chews 32. Flavor Fusion Delights 33. Minty Marvel Gum Studio 34. Chew It! Charm Creations 35. BubbleBloom Studio 36. BlissBite Cubes 37. Chew Crafters Confections 38. Zest Zing Gum Co. 39. Mingle Mint Chews 40. Savor Sphere Studio 41. BubbleBurst Chews 42. Delight Daze Gums 43. ChewBliss Creations 44. Minty Marvel Delights 45. Flavor Fiesta Gum Studio 46. Fresh Fusion Chews 47. Bubbling Bite Gums 48. Bliss Bloom Studio 49.Chew Crafters Delights 50. Zingy Zesty Chews 51. BubbleBlast Chews 52. No-Sugar Rush

Not all types of candy brands are sweet. Many people love sour candy like Sour Patch Kids, Sweet & Sours, Sour Strips, and sour candies made by other companies. Skittles, Warheads, and Trolli also make sour flavors of their candies. Check out some of our candy brand name ideas for sour candy.

1. Tangy Twist Delights 2. Zing Zing Sours 3. Citrus Crunch Co. 4. Tart Tango Candies 5. Pucker Power Sweets 6. Sour Splash Studio 7. Zesty Zing Sour Treats 8. Sour Fiesta Delights 9. Tingle Tart Confections 10. Lemony Lash Candies 11. SourBurst Studio 12. Tangy Temptation Treats 13. Citrus Charm Confections 14. Pucker Punch Sours 15. Zingy Zest Sour Studio 16. Sour Surge Delights 17. Tart Trail Treats 18. Sour Frenzy Sweets 19. Tangy Tango Candies 20. Zestful Zing Sours 21. Sour Rush Confections 22. Lemony Lure Sweets 23. Tangy Twist Treats 24. Citrus Splash Sours

25. Sour Savor Studio 26. Zesty Burst Confections 27. Sour Flare Candies 28. Tart Tingle Treats 29. Zingy Zest Sour Delights 30. Sour Sizzle Confections 31. Lemony Lash Sweets 32. Pucker Pop Studio 33. Tangy Trail Sours 34. Citrus Crush Delights 35. Sour Blast Treats 36. Tart Treat Studio 37. Zestful Zing Sour Candies 38. Sour Spree Confections 39. Lemony Lure Studio 40. Pucker Pulse Candies 41. Tangy Tempest Confectioner 42. CitrusSplash Studio 43. Sour Storm Confections 44. Zesty Burst Sours 45. Sour Surge Studio 46. Tart Twist Delights 47. Sour Fever Sweets 48. Tangy Trail Confections

Jelly Belly is one of my favorite candies. They have so many flavors, and if you ever go to their crazy candy store, you can buy each flavor individually. You’ll need a colorful candy company name if you are making or selling jelly beans.

1. Jelly Joy Delights 2. Fiesta Beans 3. Rainbow Rush Jelly Beans 4. Yumburst Treats 5. Juicy Gems Jelly Beans 6. JellyBlast Studio 7. Blissful Bite Beanz 8. Bean Bonanza Delights 9. Bursty Bites Jelly Beans 10. JellyJive Confections 11. Zestful Zing Beans 12. Dreamy Drops Jelly Beans 13. Flavor Fusion Treats 14. Chewy Charms Beans 15. Rainbow Ripple Jellys 16. Sugary Spheres Delights 17. JellyBloom Studio 18. Flavor Flair Beans 19. Sweet Savor Treats 20. Vivid Vortex Jellys 21. JellyBurst Bliss 22. Chewable Charm Beans 23. Rainbow Rush Delights 24. SugarSurge Jellys 25. JellyJazz Confections

26. Dreamy Drops Jelly Beans 27. Jelly Fiesta Jelly Beans 28. YumBurst Studio 29. Juicy Gems Jellys 30. Jellyblast Treats 31. Blissful Bite Beans 32. Bursting Bites Jelly Beans 33. JellyJive Studio 34. Zestful Zing Delights 35. Flavor Fusion Beans 36. Chewy Charms Treats 37. Rainbow Ripple Jelly Beans 38. Sugary Spheres Studio 39. JellyBloom Confections 40. Sweet Savor Beans 41. Vivid Beans 42. JellyBurst Treats 43. Chewable Charms Jellys 44. RainbowRush Jelly Beans 45. Sugar Surge Jelly Bean Delights 46. JellyJazz Beans 47. DreamyDrops Jelly Bena Treats 48. FlavorFlair Jellys 49. YumBurst Jelly Beanery 50. JuicyGems Jelly Beans

When you talk about a candy business, candy bars are king. Enduring favorites include Snickers, Butterfinger, Three Musketeers, and Twix. Here are our sweet candy name ideas for folks who make delicious candy bars:

1. ChocoHeaven Bar 2. Blissful Bite Bar 3. Crunch Craze Bar 4. Velvet Vortex Bar 5. Dreamy Delight Bar 6. Nutty Nirvana Bar 7. Sweet Savor Bar 8. Caramel Crunch Bar 9. Chew On This! Bar 10. Zesty Zing Bar 11. Choco Fiesta Bar 12. Luscious Layers Bar 13. Fudge Fantasy Bar 14. Marshmallow Mingle Bar 15. Caramel Cascade Bar 16. Nougat Nest Bar 17. Crunchy Cocoa Bar 18. Toffee Twist Bar 19. MintyMarvel Bar 20. CocoaCrave Bar 21 . Peanuts, Please Bar 22. Caramel Charmbar 23. Zingy Zest Bar

24. Frosted Fancy Bar 25. Chewy Caramel Bar 26. Coconut Craze Bar 27. Honeyed Haven Bar 28. Almond Aura Bar 29. Fruity Fusion Bar 30. Maple Mingle Bar 31. Rocky Road Bar 32. Vanilla Vortex Bar 33. Hazelnut Haven Bar 34. BerryBlast Bar 35. Cookie Crunch Bar 36. Pistachi-O Bar 37. Lush Lemon Bar 38. Cashew Craze Bar 39. Butterscotch Bliss Bar 40. Espresso Euphoria Bar 41. Blueberry Burst Bar 42. Raspberry Rush Bar 43. Tantalizing Tiramisu Bar 44. S'mores Sensation Bar 45. Choco Charm Bar 46. Cocoa-Nut Bar

Pro Tip: Candy bar makers need to disclose what ingredients their candy bars contain. Nuts are one of the top food allergens in the U.S. You might even consider creating a candy bar that has no nuts and is free of other common allergens, too.

This colorful, wispy candy is a fair favorite. A cotton candy business is often run out of a food truck. Consider a candy business name from the list below if you’re serving cotton candy.

1. Fluffy Fusion 2. Sugary Swirls 3. Cloud Confection 4. Puffy’s Cotton Candy 5. Sweet Whirls 6. Fluff Fiesta 7. Sugar Spin 8. Dream Dust Cotton Candy 9. CloudNine Confections 10. Sweetie Spins 11. Candy Floss Haven 12. Whipped Whirls 13. Fluffy Fantasy 14. Sugar Fluff Delights 15. Dreamy Drift 16. Cloud Craze 17. Sweet Spin Studio 18. Whirlwind Wonders Sweets 19. Fairy Floss Factory 20. Sugar Rush Clouds 21. Heavenly Spins 22. Flufftastic Delights

23. Sugar Dream Whirls 24. Cloudscape Confections 25. Sweet Swirl Studio 26. Cotton Craze Creations 27. Whipped Wonders 28. Fluffy Flavors 29. Sugarspun Dream 30. Dreamy Delight Clouds 31. Candy Cloud Haven 32. Fluff Fiesta Confections 33. Sugar Dream Delights 34. Cloud Nine Creations 35. Cotton Candy Dreamscape 36. Sweet Spin Whirls 37. Whipped Whirl Delights 38. Fluffy Floss Factory 39. Sugar Cloud Studio 40. Dreamy Spin Delights 41. Sweet Whirlwind 42. Cotton Craze Confections 43. Cloud Candy Dreams 44. Eight Strawberries Cotton Candy

Candy stores might also serve licorice, and bagged and boxed licorice offerings from companies like Panda and Wiley Wallaby prove that whether you love it or hate it, there’s demand for this herbaceous treat. Candy business names for licorice candy companies include the following:

1. LicoriceLand Delights 2. Twizzlicious Treats 3. FlavorTwist Licorice 4. LicoriceLuxe Delights 5. ChewyCharms Licorice 6. TastyTwill Licorice 7. LicoriceEclipse 8. SavorSphere Licorice 9. LicoriceLush Delights 10. ZestyZing Licorice 11. ChewyCharmers 12. LicoriceLure Treats 13. LicoriceLingo 14. FlavorFusion Licorice 15. LicoriceVista Delights 16. ChewyCascade Licorice 17. LicoriceLemonade 18. LusciousLayers Licorice 19. LicoriceSavor Studio 20. LicoriceLuminous 21. ChewyCharm Confections 22. LicoriceBloom Treats 23. LicoriceWhirl Delights 24. LicoriceLuxe Studio 25. LicoriceSpectrum

26. LicoriceCraze Confections 27. ChewyAura Licorice 28. LicoriceBlast Delights 29. LicoriceDreamland 30. LicoriceSavor Sweets 31. LicoriceFusion Studio 32. LicoriceTwirl Delights 33. ChewyCharm Sweets 34. LicoriceBloom Studio 35. LicoriceFlavor Finesse 36. LicoriceSavor Delights 37. LicoriceLush Sweets 38. LicoriceFiesta Studio 39. LicoriceCharm Treats 40. LicoriceSpectrum Delights 41. LicoriceFlavor Frenzy 42. ChewyCharm Delights 43. LicoriceVivid Studio 44. LicoriceDreamscape 45. LicoriceLush Studio 46. LicoriceSavor Finesse 47. LicoriceFlavor Haven 48. LicoriceCharm Studio 49. LicoriceBloom Finesse 50. LicoriceLush Finesse

The candy store is the ultimate candy business. A candy shop will normally sell a variety of chocolate, hard, sour, and sweet candy brands. Consider these names for candy business stores.

1. C. Sweet Candy Shop 2. Candy Cloud Corner 3. The Candy Tote 4. Nemo’s Sweet Dreams 5. Sugar Chunk Corner 6. Yummy Mingle Sweets 7. Candy King 8. Sprinkle Shack Sweets 9. Candy Factory 10. Bubble Blast Emporium 11. Tart & Co. 12. Candy Heaven

13. Sweetopia Sweets 14. Candy Boutique 15. Frosted Fancies Corner 16. Best Candy & Confections 17. Candy Saga 18. Retro Treats Shop 19. Bliss’s Sweet Shop 20. Treat Factory 21. Sugar Moon Studio 22. Everyone Loves Candy 23. Candy Connection 24. Sweet Bliss Candies

When you start your own candy store, you should:

• Write a business plan.
• Research the industry.
• Build a brand.
• Create product recipes.
• Set up an online presence.
• Register the business.
• Get a business credit card.
• Purchase equipment.
• Start selling your products.

Find out how Maxx Chewning started his nearly $25 million-a-year Sour Strips business.

Choosing a candy brand name is a process that requires some thought. You’ll want to:

• Choose a name that stands out.
• Check to see if the domain name is available.
• Check the USPTO for the candy name brand.
• Register your business .

Choose a name that stands out

Candy brand names should appeal to your target audience, be easy to remember, and help people understand what makes your sweet treats different. Play with cute candy names for your sweet business to see which ones people like.

Pro Tip: Learn more about choosing a business name .

Check to see if the domain name is available

Once you’ve established your candy business name ideas are appealing to your target audience, it’s time to check domain availability. Just go to GoDaddy to check if the domain name is available.

Check the USPTO for the candy name brand

The other place you’ll want to go to make sure the name of your candy company is available is the United States Patent and Trademark Office ( USPTO ).

This is where name brands register their company name, logo, and other brand assets to provide intellectual property protection. You’ll want to search for the name you’re considering to make sure a competitor is not using it.

Register your business

Once you’ve established the candy business name is available, you’ll want to go to the Secretary of State website in your location to register your business . You can register as an LLC for liability protection or a corporation if you aspire to sell stock.

While researching famous candy companies, I came across Candy Warehouse ’s list of suppliers. Most of the candy company names were between one and three words with an average of 1.79 words per candy name and 5.84 characters per word. That means the average name is 10.45 letters long.

If you want to name a candy company with a long name, the one to beat is “Can You Imagine That Confections” with 28 letters—nearly three times the average!

Do you have ideas for your candy business name?

We’ve provided you with candy name ideas based on different candy brands’ offerings and helped you understand how to start a candy company and name a candy business.

Did this blog help you find a sweet candy shop business name? Let us know in the comments below.

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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.

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What is a business plan?

A business plan is a document that helps small business owners determine the viability of their business idea. Combining market research and financial analysis, a professional business plan helps startup CEOs and potential investors determine if the company can compete in the target market.

Typically, a good business plan consists of the following:

• Executive summary
• Company description
• Mission statement
• Product and services
• Marketing plan
• Operations plan
• Management organization
• Financial plan
• Conclusion & appendix

Every section involved in a business plan is designed to help startup businesses reach their target market.

A business plan asks founders and entrepreneurs to detail their business strategy in a step-by-step process that makes sense from an operational perspective. This is essential if a startup is seeking a business loan or an investment from a venture capital firm.

However, even small businesses that are already economically viable can benefit from creating a business plan, since it encourages business owners and their management teams to examine their business model and reevaluate the best ways to reach their target customers.

Should I use a business plan template?

Yes.  If you’ve never written one, a business plan can be challenging to write.

Creating a successful plan that you can use to grow your small business can require weeks of market analysis and financial preparation. You may spend time using Microsoft Excel or Powerpoint in order to create documentation which better supports our operational decisions.

However, almost every professional business plan is structured in the same way and most ask for the same information. Because of this, using a business plan template is advisable to save time, money, and effort.

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Frequently asked questions

How many pages should my business plan be.

This depends on the kind of business plan you need to write and how you intend to use the plan that you create.

For example, a plan for a small business seeking potential investors or a business loan will need to provide income statements, cash flow statements, and a balance sheet (usually for a three-year or five-year forecast period).

These financial statements can be omitted if a small business owner isn’t seeking funding and is instead planning to use their business plan as a guiding document for themselves and their management team members.

Some business plans may only run a few pages. Fully-developed business plans can be as long as 50 pages. Much of this depends on the type of business, the operational strategy, and the level of detail that goes into developing the business plan.

Who needs a business plan?

Every business should have a business plan. This is an essential guidance document for any founder or CEO.

Good business plans help a company determine the viability of its place in the market and can help the business develop better strategies for differentiating itself from its competitors.

Business planning also forces business owners to evaluate their marketing strategy, the cost of customer acquisition and retention, and how they plan to grow their business over time.

What is the best business plan template?

Business plans come in all shapes and sizes. The best business plan template for your business is one that you understand and that matches the size and legal structure of your operation.

If you’re a sole proprietor, a business plan template designed for a big corporation probably doesn’t make sense. However, a business plan that helps you build an effective roadmap to grow your business while protecting your intellectual property is a good starting point.

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Should I hire someone to write my business plan for me?

No. You’ll find freelance writers and business strategy companies out there who are happy to write your business plan for a fee.  These resources can guide you through the process, but you should write (or be heavily involved in) the creation of your business plan.

The reason for this is simple: You know the most about your business, and your business needs you to succeed.

A writer can work with you to make your business plan sound better to investors, and a consultant can help you fill in knowledge gaps — like how to conduct a SWOT analysis — and point out weaknesses in your plan. But, at the end of the day, you need to use the business plan to pitch investors and run your business.

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Should I use business planning software?

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Step-by-Step Guide to Writing a Simple Business Plan

By Joe Weller | October 11, 2021

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A business plan is the cornerstone of any successful company, regardless of size or industry. This step-by-step guide provides information on writing a business plan for organizations at any stage, complete with free templates and expert advice. 

Included on this page, you’ll find a step-by-step guide to writing a business plan and a chart to identify which type of business plan you should write . Plus, find information on how a business plan can help grow a business and expert tips on writing one .

What Is a Business Plan?

A business plan is a document that communicates a company’s goals and ambitions, along with the timeline, finances, and methods needed to achieve them. Additionally, it may include a mission statement and details about the specific products or services offered.

A business plan can highlight varying time periods, depending on the stage of your company and its goals. That said, a typical business plan will include the following benchmarks:

• Product goals and deadlines for each month
• Monthly financials for the first two years
• Profit and loss statements for the first three to five years
• Balance sheet projections for the first three to five years

Startups, entrepreneurs, and small businesses all create business plans to use as a guide as their new company progresses. Larger organizations may also create (and update) a business plan to keep high-level goals, financials, and timelines in check.

While you certainly need to have a formalized outline of your business’s goals and finances, creating a business plan can also help you determine a company’s viability, its profitability (including when it will first turn a profit), and how much money you will need from investors. In turn, a business plan has functional value as well: Not only does outlining goals help keep you accountable on a timeline, it can also attract investors in and of itself and, therefore, act as an effective strategy for growth.

For more information, visit our comprehensive guide to writing a strategic plan or download free strategic plan templates . This page focuses on for-profit business plans, but you can read our article with nonprofit business plan templates .

Business Plan Steps

The specific information in your business plan will vary, depending on the needs and goals of your venture, but a typical plan includes the following ordered elements:

• Executive summary
• Description of business
• Market analysis
• Competitive analysis
• Description of organizational management
• Description of product or services
• Marketing plan
• Sales strategy
• Funding details (or request for funding)
• Financial projections

If your plan is particularly long or complicated, consider adding a table of contents or an appendix for reference. For an in-depth description of each step listed above, read “ How to Write a Business Plan Step by Step ” below.

Broadly speaking, your audience includes anyone with a vested interest in your organization. They can include potential and existing investors, as well as customers, internal team members, suppliers, and vendors.

Do I Need a Simple or Detailed Plan?

Your business’s stage and intended audience dictates the level of detail your plan needs. Corporations require a thorough business plan — up to 100 pages. Small businesses or startups should have a concise plan focusing on financials and strategy.

How to Choose the Right Plan for Your Business

In order to identify which type of business plan you need to create, ask: “What do we want the plan to do?” Identify function first, and form will follow.

Use the chart below as a guide for what type of business plan to create:

Is the Order of Your Business Plan Important?

There is no set order for a business plan, with the exception of the executive summary, which should always come first. Beyond that, simply ensure that you organize the plan in a way that makes sense and flows naturally.

The Difference Between Traditional and Lean Business Plans

A traditional business plan follows the standard structure — because these plans encourage detail, they tend to require more work upfront and can run dozens of pages. A Lean business plan is less common and focuses on summarizing critical points for each section. These plans take much less work and typically run one page in length.

In general, you should use a traditional model for a legacy company, a large company, or any business that does not adhere to Lean (or another Agile method ). Use Lean if you expect the company to pivot quickly or if you already employ a Lean strategy with other business operations. Additionally, a Lean business plan can suffice if the document is for internal use only. Stick to a traditional version for investors, as they may be more sensitive to sudden changes or a high degree of built-in flexibility in the plan.

How to Write a Business Plan Step by Step

Writing a strong business plan requires research and attention to detail for each section. Below, you’ll find a 10-step guide to researching and defining each element in the plan.

Step 1: Executive Summary

The executive summary will always be the first section of your business plan. The goal is to answer the following questions:

• What is the vision and mission of the company?
• What are the company’s short- and long-term goals?

See our  roundup of executive summary examples and templates for samples. Read our executive summary guide to learn more about writing one.

Step 2: Description of Business

The goal of this section is to define the realm, scope, and intent of your venture. To do so, answer the following questions as clearly and concisely as possible:

• What business are we in?
• What does our business do?

Step 3: Market Analysis

In this section, provide evidence that you have surveyed and understand the current marketplace, and that your product or service satisfies a niche in the market. To do so, answer these questions:

• Who is our customer? 
• What does that customer value?

Step 4: Competitive Analysis

In many cases, a business plan proposes not a brand-new (or even market-disrupting) venture, but a more competitive version — whether via features, pricing, integrations, etc. — than what is currently available. In this section, answer the following questions to show that your product or service stands to outpace competitors:

• Who is the competition? 
• What do they do best? 
• What is our unique value proposition?

Step 5: Description of Organizational Management

In this section, write an overview of the team members and other key personnel who are integral to success. List roles and responsibilities, and if possible, note the hierarchy or team structure.

Step 6: Description of Products or Services

In this section, clearly define your product or service, as well as all the effort and resources that go into producing it. The strength of your product largely defines the success of your business, so it’s imperative that you take time to test and refine the product before launching into marketing, sales, or funding details.

Questions to answer in this section are as follows:

• What is the product or service?
• How do we produce it, and what resources are necessary for production?

Step 7: Marketing Plan

In this section, define the marketing strategy for your product or service. This doesn’t need to be as fleshed out as a full marketing plan , but it should answer basic questions, such as the following:

• Who is the target market (if different from existing customer base)?
• What channels will you use to reach your target market?
• What resources does your marketing strategy require, and do you have access to them?
• If possible, do you have a rough estimate of timeline and budget?
• How will you measure success?

Step 8: Sales Plan

Write an overview of the sales strategy, including the priorities of each cycle, steps to achieve these goals, and metrics for success. For the purposes of a business plan, this section does not need to be a comprehensive, in-depth sales plan , but can simply outline the high-level objectives and strategies of your sales efforts. 

Start by answering the following questions:

• What is the sales strategy?
• What are the tools and tactics you will use to achieve your goals?
• What are the potential obstacles, and how will you overcome them?
• What is the timeline for sales and turning a profit?
• What are the metrics of success?

Step 9: Funding Details (or Request for Funding)

This section is one of the most critical parts of your business plan, particularly if you are sharing it with investors. You do not need to provide a full financial plan, but you should be able to answer the following questions:

• How much capital do you currently have? How much capital do you need?
• How will you grow the team (onboarding, team structure, training and development)?
• What are your physical needs and constraints (space, equipment, etc.)?

Step 10: Financial Projections

Apart from the fundraising analysis, investors like to see thought-out financial projections for the future. As discussed earlier, depending on the scope and stage of your business, this could be anywhere from one to five years. 

While these projections won’t be exact — and will need to be somewhat flexible — you should be able to gauge the following:

• How and when will the company first generate a profit?
• How will the company maintain profit thereafter?

Business Plan Template

Download Business Plan Template

Microsoft Excel | Smartsheet

This basic business plan template has space for all the traditional elements: an executive summary, product or service details, target audience, marketing and sales strategies, etc. In the finances sections, input your baseline numbers, and the template will automatically calculate projections for sales forecasting, financial statements, and more.

For templates tailored to more specific needs, visit this business plan template roundup or download a fill-in-the-blank business plan template to make things easy. 

If you are looking for a particular template by file type, visit our pages dedicated exclusively to Microsoft Excel , Microsoft Word , and Adobe PDF business plan templates.

How to Write a Simple Business Plan

A simple business plan is a streamlined, lightweight version of the large, traditional model. As opposed to a one-page business plan , which communicates high-level information for quick overviews (such as a stakeholder presentation), a simple business plan can exceed one page.

Below are the steps for creating a generic simple business plan, which are reflected in the template below .

• Write the Executive Summary This section is the same as in the traditional business plan — simply offer an overview of what’s in the business plan, the prospect or core offering, and the short- and long-term goals of the company. 
• Add a Company Overview Document the larger company mission and vision. 
• Provide the Problem and Solution In straightforward terms, define the problem you are attempting to solve with your product or service and how your company will attempt to do it. Think of this section as the gap in the market you are attempting to close.
• Identify the Target Market Who is your company (and its products or services) attempting to reach? If possible, briefly define your buyer personas .
• Write About the Competition In this section, demonstrate your knowledge of the market by listing the current competitors and outlining your competitive advantage.
• Describe Your Product or Service Offerings Get down to brass tacks and define your product or service. What exactly are you selling?
• Outline Your Marketing Tactics Without getting into too much detail, describe your planned marketing initiatives.
• Add a Timeline and the Metrics You Will Use to Measure Success Offer a rough timeline, including milestones and key performance indicators (KPIs) that you will use to measure your progress.
• Include Your Financial Forecasts Write an overview of your financial plan that demonstrates you have done your research and adequate modeling. You can also list key assumptions that go into this forecasting. 
• Identify Your Financing Needs This section is where you will make your funding request. Based on everything in the business plan, list your proposed sources of funding, as well as how you will use it.

Simple Business Plan Template

Download Simple Business Plan Template

Microsoft Excel |  Microsoft Word | Adobe PDF  | Smartsheet

Use this simple business plan template to outline each aspect of your organization, including information about financing and opportunities to seek out further funding. This template is completely customizable to fit the needs of any business, whether it’s a startup or large company.

Read our article offering free simple business plan templates or free 30-60-90-day business plan templates to find more tailored options. You can also explore our collection of one page business templates . 

How to Write a Business Plan for a Lean Startup

A Lean startup business plan is a more Agile approach to a traditional version. The plan focuses more on activities, processes, and relationships (and maintains flexibility in all aspects), rather than on concrete deliverables and timelines.

While there is some overlap between a traditional and a Lean business plan, you can write a Lean plan by following the steps below:

• Add Your Value Proposition Take a streamlined approach to describing your product or service. What is the unique value your startup aims to deliver to customers? Make sure the team is aligned on the core offering and that you can state it in clear, simple language.
• List Your Key Partners List any other businesses you will work with to realize your vision, including external vendors, suppliers, and partners. This section demonstrates that you have thoughtfully considered the resources you can provide internally, identified areas for external assistance, and conducted research to find alternatives.
• Note the Key Activities Describe the key activities of your business, including sourcing, production, marketing, distribution channels, and customer relationships.
• Include Your Key Resources List the critical resources — including personnel, equipment, space, and intellectual property — that will enable you to deliver your unique value.
• Identify Your Customer Relationships and Channels In this section, document how you will reach and build relationships with customers. Provide a high-level map of the customer experience from start to finish, including the spaces in which you will interact with the customer (online, retail, etc.). 
• Detail Your Marketing Channels Describe the marketing methods and communication platforms you will use to identify and nurture your relationships with customers. These could be email, advertising, social media, etc.
• Explain the Cost Structure This section is especially necessary in the early stages of a business. Will you prioritize maximizing value or keeping costs low? List the foundational startup costs and how you will move toward profit over time.
• Share Your Revenue Streams Over time, how will the company make money? Include both the direct product or service purchase, as well as secondary sources of revenue, such as subscriptions, selling advertising space, fundraising, etc.

Lean Business Plan Template for Startups

Download Lean Business Plan Template for Startups

Microsoft Word | Adobe PDF

Startup leaders can use this Lean business plan template to relay the most critical information from a traditional plan. You’ll find all the sections listed above, including spaces for industry and product overviews, cost structure and sources of revenue, and key metrics, and a timeline. The template is completely customizable, so you can edit it to suit the objectives of your Lean startups.

See our wide variety of  startup business plan templates for more options.

How to Write a Business Plan for a Loan

A business plan for a loan, often called a loan proposal , includes many of the same aspects of a traditional business plan, as well as additional financial documents, such as a credit history, a loan request, and a loan repayment plan.

In addition, you may be asked to include personal and business financial statements, a form of collateral, and equity investment information.

Download free financial templates to support your business plan.

Tips for Writing a Business Plan

Outside of including all the key details in your business plan, you have several options to elevate the document for the highest chance of winning funding and other resources. Follow these tips from experts:.

• Keep It Simple: Avner Brodsky , the Co-Founder and CEO of Lezgo Limited, an online marketing company, uses the acronym KISS (keep it short and simple) as a variation on this idea. “The business plan is not a college thesis,” he says. “Just focus on providing the essential information.”
• Do Adequate Research: Michael Dean, the Co-Founder of Pool Research , encourages business leaders to “invest time in research, both internal and external (market, finance, legal etc.). Avoid being overly ambitious or presumptive. Instead, keep everything objective, balanced, and accurate.” Your plan needs to stand on its own, and you must have the data to back up any claims or forecasting you make. As Brodsky explains, “Your business needs to be grounded on the realities of the market in your chosen location. Get the most recent data from authoritative sources so that the figures are vetted by experts and are reliable.”
• Set Clear Goals: Make sure your plan includes clear, time-based goals. “Short-term goals are key to momentum growth and are especially important to identify for new businesses,” advises Dean.
• Know (and Address) Your Weaknesses: “This awareness sets you up to overcome your weak points much quicker than waiting for them to arise,” shares Dean. Brodsky recommends performing a full SWOT analysis to identify your weaknesses, too. “Your business will fare better with self-knowledge, which will help you better define the mission of your business, as well as the strategies you will choose to achieve your objectives,” he adds.
• Seek Peer or Mentor Review: “Ask for feedback on your drafts and for areas to improve,” advises Brodsky. “When your mind is filled with dreams for your business, sometimes it is an outsider who can tell you what you’re missing and will save your business from being a product of whimsy.”

Outside of these more practical tips, the language you use is also important and may make or break your business plan.

Shaun Heng, VP of Operations at Coin Market Cap , gives the following advice on the writing, “Your business plan is your sales pitch to an investor. And as with any sales pitch, you need to strike the right tone and hit a few emotional chords. This is a little tricky in a business plan, because you also need to be formal and matter-of-fact. But you can still impress by weaving in descriptive language and saying things in a more elegant way.

“A great way to do this is by expanding your vocabulary, avoiding word repetition, and using business language. Instead of saying that something ‘will bring in as many customers as possible,’ try saying ‘will garner the largest possible market segment.’ Elevate your writing with precise descriptive words and you'll impress even the busiest investor.”

Additionally, Dean recommends that you “stay consistent and concise by keeping your tone and style steady throughout, and your language clear and precise. Include only what is 100 percent necessary.”

Resources for Writing a Business Plan

While a template provides a great outline of what to include in a business plan, a live document or more robust program can provide additional functionality, visibility, and real-time updates. The U.S. Small Business Association also curates resources for writing a business plan.

Additionally, you can use business plan software to house data, attach documentation, and share information with stakeholders. Popular options include LivePlan, Enloop, BizPlanner, PlanGuru, and iPlanner.

How a Business Plan Helps to Grow Your Business

A business plan — both the exercise of creating one and the document — can grow your business by helping you to refine your product, target audience, sales plan, identify opportunities, secure funding, and build new partnerships. 

Outside of these immediate returns, writing a business plan is a useful exercise in that it forces you to research the market, which prompts you to forge your unique value proposition and identify ways to beat the competition. Doing so will also help you build (and keep you accountable to) attainable financial and product milestones. And down the line, it will serve as a welcome guide as hurdles inevitably arise.

Streamline Your Business Planning Activities with Real-Time Work Management in Smartsheet

Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. 

The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

Discover why over 90% of Fortune 100 companies trust Smartsheet to get work done.

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Blog Business

How to Write a Business Plan Outline [Examples + Templates] 

By Letícia Fonseca , Aug 11, 2023

When venturing into crafting a business plan, the initial hurdle often lies in taking that first step.

So, how can you evade those prolonged hours of staring at a blank page? Initiate your journey with the aid of a business plan outline.

As with any endeavor, an outline serves as the beacon of clarity, illuminating the path to confront even the most formidable tasks. This holds particularly true when composing pivotal documents vital to your triumph, much like a business plan.

Nonetheless, I understand the enormity of a business plan’s scope, which might make the task of outlining it seem daunting. This is precisely why I’ve compiled all the requisite information to facilitate the creation of a business plan outline. No need to break a sweat!

And if you’re seeking further assistance, a business plan maker and readily available business plan templates can offer valuable support in shaping your comprehensive plan.

Read on for answers to all your business plan outline questions or jump ahead for some handy templates. 

Click to jump ahead:

What is a business plan outline (and why do you need one), what format should you choose for your business plan outline, what are the key components of a business plan outline.

• Business plan template examples
• Writing tips to ace your outline 

A business plan outline is the backbone of your business plan. It contains all the most important information you’ll want to expand on in your full-length plan. 

Think of it this way: your outline is a frame for your plan. It provides a high-level idea of what the final plan should look like, what it will include and how all the information will be organized. 

Why would you do this extra step? Beyond saving you from blank page syndrome, an outline ensures you don’t leave any essential information out of your plan — you can see all the most important points at a glance and quickly identify any content gaps. 

It also serves as a writing guide. Once you know all the sections you want in your plan, you just need to expand on them. Suddenly, you’re “filling in the blanks” as opposed to writing a plan from scratch!

Incidentally, using a business plan template like this one gives you a running head start, too: 

Perhaps most importantly, a business plan outline keeps you focused on the essential parts of your document. (Not to mention what matters most to stakeholders and investors.)  With an outline, you’ll spend less time worrying about structure or organization and more time perfecting the actual content of your document. 

If you’re looking for more general advice, you can read about  how to create a business plan here . But if you’re working on outlining your plan, stick with me.

Return to Table of Contents

Most business plans fit into one of two formats. 

The format you choose largely depends on three factors: (1) the stage of your business, (2) if you’re presenting the plan to investors and (3) what you want to achieve with your business plan. 

Let’s have a closer look at these two formats and why you might choose one over the other.

Traditional format

Traditional business plans  are typically long, detailed documents. In many cases, they take up to 50-60 pages, but it’s not uncommon to see plans spanning 100+ pages. 

Traditional plans are long because they cover  every aspect  of your business. They leave nothing out. You’ll find a traditional business plan template with sections like executive summary, company description, target market, market analysis, marketing plan, financial plan, and more. Basically: the more information the merrier.

This business plan template isn’t of a traditional format, but you could expand it into one by duplicating pages:

Due to their high level of detail, traditional formats are the best way to sell your business. They show you’re reliable and have a clear vision for your business’s future. 

If you’re planning on presenting your plan to investors and stakeholders, you’ll want to go with a traditional plan format. The more information you include, the fewer doubts and questions you’ll get when you present your plan, so don’t hold back. 

Traditional business plans require more detailed outlines before drafting since there’s a lot of information to cover. You’ll want to list all the sections and include bullet points describing what each section should cover. 

It’s also a good idea to include all external resources and visuals in your outline, so you don’t have to gather them later. 

Lean format

Lean business plan formats are high level and quick to write. They’re often only one or two pages. Similar to a  business plan infographic , they’re scannable and quick to digest, like this template: 

This format is often referred to as a “startup” format due to (you guessed it!) many startups using it. 

Lean business plans require less detailed outlines. You can include high-level sections and a few lines in each section covering the basics. Since the final plan will only be a page or two, you don’t need to over prepare. Nor will you need a ton of external resources. 

Lean plans don’t answer all the questions investors and stakeholders may ask, so if you go this route, make sure it’s the right choice for your business . Companies not yet ready to present to investors will typically use a lean/startup business plan format to get their rough plan on paper and share it internally with their management team. 

Here’s another example of a lean business plan format in the form of a financial plan: 

Your business plan outline should include all the following sections. The level of detail you choose to go into will depend on your intentions for your plan (sharing with stakeholders vs. internal use), but you’ll want every section to be clear and to the point. 

1. Executive summary

The executive summary gives a high-level description of your company, product or service. This section should include a mission statement, your company description, your business’s primary goal, and the problem it aims to solve. You’ll want to state how your business can solve the problem and briefly explain what makes you stand out (your competitive advantage).

Having an executive summary is essential to selling your business to stakeholders , so it should be as clear and concise as possible. Summarize your business in a few sentences in a way that will hook the reader (or audience) and get them invested in what you have to say next. In other words, this is your elevator pitch.

2. Product and services description

This is where you should go into more detail about your product or service. Your product is the heart of your business, so it’s essential this section is easy to grasp. After all, if people don’t know what you’re selling, you’ll have a hard time keeping them engaged!

Expand on your description in the executive summary, going into detail about the problem your customers face and how your product/service will solve it. If you have various products or services, go through all of them in equal detail. 

3. Target market and/or Market analysis

A market analysis is crucial for placing your business in a larger context and showing investors you know your industry. This section should include market research on your prospective customer demographic including location, age range, goals and motivations. 

You can even  include detailed customer personas  as a visual aid — these are especially useful if you have several target demographics. You want to showcase your knowledge of your customer, who exactly you’re selling to and how you can fulfill their needs.

Be sure to include information on the overall target market for your product, including direct and indirect competitors and how your industry is performing. If your competitors have strengths you want to mimic or weaknesses you want to exploit, this is the place to record that information. 

4. Organization and management

You can think of this as a “meet the team” section — this is where you should go into depth on your business’s structure from management to legal and HR. If there are people bringing unique skills or experience to the table (I’m sure there are!), you should highlight them in this section. 

The goal here is to showcase why your team is the best to run your business. Investors want to know you’re unified, organized and reliable. This is also a potential opportunity to bring more humanity to your business plan and showcase the faces behind the ideas and product. 

5. Marketing and sales

Now that you’ve introduced your product and team, you need to explain how you’re going to sell it. Give a detailed explanation of your sales and marketing strategy, including pricing, timelines for launching your product and advertising.

This is a major section of your plan and can even live as a separate document for your marketing and sales teams. Here are some  marketing plan templates to help you get started .

Make sure you have research or analysis to back up your decisions — if you want to do paid ads on LinkedIn to advertise your product, include a brief explanation as to why that is the best channel for your business. 

6. Financial projections and funding request

The end of your plan is where you’ll look to the future and how you think your business will perform financially. Your financial plan should include results from your income statement, balance sheet and cash flow projections. 

State your funding requirements and what you need to realize the business. Be extremely clear about how you plan to use the funding and when you expect investors will see returns.

If you aren’t presenting to potential investors, you can skip this part, but it’s something to keep in mind should you seek funding in the future. Covering financial projections and the previous five components is essential at the stage of business formation to ensure everything goes smoothly moving forward.

7. Appendix

Any extra visual aids, receipts, paperwork or charts will live here. Anything that may be relevant to your plan should be included as reference e.g. your cash flow statement (or other financial statements). You can format your appendix in whatever way you think is best — as long as it’s easy for readers to find what they’re looking for, you’ve done your job!

Typically, the best way to start your outline is to list all these high-level sections. Then, you can add bullet points outlining what will go in each section and the resources you’ll need to write them. This should give you a solid starting point for your full-length plan.

Business plan outline templates

Looking for a shortcut? Our  business plan templates  are basically outlines in a box! 

While your outline likely won’t go into as much detail, these templates are great examples of how to organize your sections.

Traditional format templates

A strong template can turn your long, dense business plan into an engaging, easy-to-read document. There are lots to choose from, but here are just a few ideas to inspire you… 

You can duplicate pages and use these styles for a traditional outline, or start with a lean outline as you build your business plan out over time:

Lean format templates

For lean format outlines, a simpler ‘ mind map ’ style is a good bet. With this style, you can get ideas down fast and quickly turn them into one or two-page plans. Plus, because they’re shorter, they’re easy to share with your team.

Writing tips to ace your business plan outline

Business plans are complex documents, so if you’re still not sure how to write your outline, don’t worry! Here are some helpful tips to keep in mind when drafting your business plan outline:

• Ask yourself why you’re writing an outline. Having a clear goal for your outline can help keep you on track as you write. Everything you include in your plan should contribute to your goal. If it doesn’t, it probably doesn’t need to be in there.
• Keep it clear and concise. Whether you’re writing a traditional or lean format business plan, your outline should be easy to understand. Choose your words wisely and avoid unnecessary preambles or padding language. The faster you get to the point, the easier your plan will be to read.
• Add visual aids. No one likes reading huge walls of text! Make room in your outline for visuals, data and charts. This keeps your audience engaged and helps those who are more visual learners. Psst,  infographics  are great for this.
• Make it collaborative. Have someone (or several someones) look it over before finalizing your outline. If you have an established marketing / sales / finance team, have them look it over too. Getting feedback at the outline stage can help you avoid rewrites and wasted time down the line.

If this is your first time writing a business plan outline, don’t be too hard on yourself. You might not get it 100% right on the first try, but with these tips and the key components listed above, you’ll have a strong foundation. Remember, done is better than perfect. 

Create a winning business plan by starting with a detailed, actionable outline

The best way to learn is by doing. So go ahead, get started on your business plan outline. As you develop your plan, you’ll no doubt learn more about your business and what’s important for success along the way. 

A clean, compelling template is a great way to get a head start on your outline. After all, the sections are already separated and defined for you! 

Explore Venngage’s business plan templates  for one that suits your needs. Many are free to use and there are premium templates available for a small monthly fee. Happy outlining!

Top 4 Business Plan Examples

Writing your first business plan be sure to review these four business plan examples from the startups community that really stand out from the crowd..

November 9th, 2022    |    By: The Startups Team     |    Tags: Pitch Deck

Founders have to learn so many new skills when they're launching a startup, and writing a business plan is a big one. When you're writing your  business plan  for the first time, things can get…  intimidating.

What do you include? What kind of wording should you use? What do you make sure not to include? Is a mid size business plan different than an enterprise plan or a scalable startup? Do I need to include financials like cash flow statements? What do investors want to see?

It's enough to make even a stalwart startup founder and management team throw in the towel before they've even begun.

Lucky for you — we've created a  complete guide to writing your business plan . Check it out if you haven't already. (And if a link from there brought you here, just keep reading!) We'll share some business plan samples so you can get started writing your own professional business plan.

But, while it's nice to be guided step-by-step, it can also really help to have concrete examples when you're approaching creating something for the first time.

So, with that in mind, here are four sample business plans from the Startups community that we think really stand out from the crowd. We hope that these will serve as a startup business plan template and make it easier to write your own. At a minimum, these will provide some great business plan ideas whether you are writing traditional business plans for an established business or biz plans for an innovative new startup. While we would of course suggest you use our business plan creator, Bizplan.com, you can use these examples with any number of business plan apps or business plan software.

Click on the below links to see fully formatted versions or continue reading for the text-only version of Culina's.

LiveShopBuy

CULINA Executive Summary

Fast facts:.

Founded:  2013  Headquarters:  San Francisco, CA  Founder:  Kent McClure  Market Size:  $12.5 billion  Target Audience:  Homeowners; property managers; insurance providers.

Quick Description:

Culina is a San Francisco-based IoT and home automation company. We design an advanced smart hub technology that enables users to interconnect and remotely monitor all of their cooking devices and kitchen appliances through a single user-friendly platform.

Our Mission:

To make homes smarter, more connected, and safer for families while helping them save money and conserve energy through the power of affordable, automated technology.

Our Vision:

To become the leading provider of IoT technology for kitchen appliances on a global scale with applications across both residential and commercial properties.

Company Synopsis:

Culina Tech is the next leading name in home automation and IoT. We're committed to leading the charge in creating the ultimate smart kitchen for homeowners all around the world. Our revolutionary Smart Plugs enable users to make any kitchen appliance or cooking device intelligent. Compatible with all existing brands that plug into standard two or three-prong wall outlets, Culina creates an entire network of Wi-Fi-connected kitchen devices. The Culina App allows users to remotely monitor the status of and control all devices connected to our Smart Plugs. Whether it's remotely turning on the coffee pot after getting out of bed, turning off the stove if it was accidentally left on via smartphone, or switching on the crockpot before getting home from work, Culina is purpose-built to deliver unrivaled convenience and peace of mind.

With the ability to set energy usage caps on a daily, weekly, or monthly basis, Culina helps homeowners stay within their monthly utility budget and save energy in the kitchen through more efficient use of the dishwasher, refrigerator, freezer, stove, and other common appliances.

When a device reaches its energy limit, Culina alerts users through their smartphone and is built with the ability to power down the device automatically if the user chooses. The App measures key usage metrics in real-time, allowing users to get an instant dashboard view of energy consumption as it occurs.

Our team has already finished the product development and design phase, with 3 prototype iterations completed, and we are now ready to begin mass manufacturing. We've also gained major traction among consumers and investors alike, with 10,000 pre-ordered units sold and $5 million in capital secured to date.

With this round of funding, our objective is to ramp up hardware manufacturing, improve software UX and UI, expand our sales and marketing efforts, and fulfill pre-orders in time for the 2017 holiday season. We are currently seeking a $15M Series B capital investment that will give us the financial flexibility to achieve these goals. On behalf of the entire Culina Tech team, we'd like to thank you for your time and interest in our company and this investment opportunity.

Funding Allocation:

⇾  30% Manufacturing  ⇾  25% Sales & Marketing  ⇾  25% Key Hires  ⇾  20% Operational

Team Overview:

The kitchen is the heart of the home. It's a quintessential gathering place where families and friends come together to break bread, be merry, and make memories. But the kitchen is also where tragedy often strikes due to misuse of appliances. Kent McClure and his team set out to make the kitchen a safer and more energy-efficient place for the family after a tragic fire struck his own kitchen in late 2012. Thankfully, no lives were lost and everyone in his family made it out safe and sound, but Kent couldn't help but wonder  “what if.”

With decades in the industrial design space, Kent knew he had the knowledge and the industry contacts to set out to improve upon home automation devices for the kitchen with a solution that not only made homes safer but also cut down on energy consumption and associated costs. In early 2013, Culina was born. Since that time, Kent and the Culina team have made it their mission to completely revolutionize the home automation and IoT space with innovative, AI-powered technology.

Kent McClure | Founder & CEO  Kent is a Carnegie Mellon graduate with over 10 years of executive leadership experience in industrial design and engineering. He has a successful entrepreneurial history, founding a prior tech-based startup which he grew to $100 million in revenue, followed by an acquisition in 2010 and then IPO shortly after.

Sherri Carlson | COO  Sherri earned her MBA from Harvard Business School. She oversees all of Culina's ongoing operations and procedures and is responsible for driving Culina to achieve and surpass sales, profitability, cash flow, and business goals and objectives.

Martin Frink | CTO  Martin is a Stanford University alumnus with extensive technical expertise and over a decade of experience at venture-backed tech companies. He is responsible for Culina's technical vision, heading up all aspects of our technological development, strategic direction, development, and future growth.

Margaret Burns | CFO  Margaret earned her degree in Financial Management from NYU. Prior to joining Culina, Margaret spent seven years as CFO for a publicly-traded mobile tech company headquartered in Silicon Valley. She currently manages Culina's financial risks and handles all financial planning, record-keeping, and reporting.

COMPANY OVERVIEW

Market opportunity.

An enormous need exists for dramatic reductions in energy consumption. Businesses alone consume 12-20% of the total US energy supply on food production, processing, manufacturing, distribution, and preparation.

On the residential side, the Energy Information Administration estimates that the average US household uses 11,280 kWh per year. Many homeowners are simply unaware of the large amount of energy consumed by many small household kitchen appliances:

Dishwasher:  133 watts  Television:  1,200 to 2,400 watts  Coffee Maker:  900 to 1,200 watts  Washing Machine:  350 to 500 watts  Toaster:  55 to 250 watts  Window Fan:  800 to 1,400 watts

The majority of US households now spend roughly 35 percent of their energy consumption on appliances, electronics, and lighting.

Most homeowners don't think about the little details that can help save them money on their energy bill. The vast majority of people keep the refrigerator or freezer too cold, fail to make sure refrigerator door seals are airtight, neglect to regularly defrost fridges and freezers, overload their dishwashers, and keep dishwasher water temperature too hot. As a result, energy consumption remains high, and energy bills remain high.

Not only do kitchens represent a primary source of household energy consumption, but also a primary source of house fires. More fires start in the kitchen than in any other room in the home, and household cooking appliances frequently account for billions of dollars in fire-related insurance claims every year. The number one cause of house fires and house fire injuries is the stove.

✓  46% of house fires caused by cooking equipment  ✓  62% of house fires caused by ranges or cooktops  ✓  $4,000 average fire and smoke damage repair costs

Culina is actively solving both of these common challenges caused by cooking equipment simultaneously. Our technology provides homeowners with immediate, real-time insight into their energy consumption by aggregating data for all kitchen appliances connected to our Smart Plugs while also delivering the preventative intelligence necessary to reduce kitchen-related disasters.

Key Features and Benefits:

We designed our Culina Smart Plugs to work in tandem with an intuitive, user-friendly mobile application — allowing users to gain a much-needed technological upgrade to the most popular room in the house.

Easy Setup:

Culina Smart Plugs work with standard two and three-pronged appliances and cooking devices. Simply attach the Culina Smart Plug to the appliance's electrical, plug it into the wall, download the Culina app, connect, and configure.

Constantly Learning:

Powered by machine learning artificial intelligence, our Intelligent Culina Response System learns user habits every time someone uses an appliance connected to one of our Smart Plugs.

Multi-Threat Sensors:

Our state-of-the-art sensors detect a variety of potential threats to the kitchen — including sudden and unusual temperature fluctuations, poisonous gas and emissions, toxic smoke, and more. Homeowners receive alerts whenever unusual activity is in progress such as a stovetop being left on for too long or during an unusual time of day.

Remote Monitoring:

Users can monitor all information directly from an easy-to-navigate dashboard in real-time using the Culina App for iOS and Android. Users can check metrics such as fridge and freezer temperature, cook time, and usage data as it is being gathered.

Remote Appliance Control:

With the Culina App, users can control all connected appliances and devices. If our Smart Plug is attached to a crockpot, for example, a user can add the ingredients before they head to work, activate the crockpot remotely, and come home to a readymade meal waiting for them the moment they step through the front door.

Remote Shut-Off:

Not only does remote operation over appliances provide convenience, it also serves to prevent kitchen-related hazards. The Culina App includes auto shut-off capabilities allowing users to turn off appliances using their smartphone even when they're not at home. This is particularly useful in the event that users forget to turn off the oven or stove to prevent potential house fires.

Advanced Notifications:

In addition to notifying users if an appliance is left on by accident or if it detects a potential hazard, Culina also reminds users anytime regular maintenance is required.

Energy Consumption Data:

Users can also monitor energy consumption on a weekly basis right from the Culina App. By providing at-a-glance insight into whether energy use has gone up or down, users gain the ability to adjust their usage accordingly in order to conserve energy and ultimately save money in utility bills the long term.

Inter-operability:

Our cloud-based technology integrates with other popular platforms including Google's Nest and Lowe's Iris.

Cost-Saving Benefits:

Not only can users conserve money in energy consumption bills with Culina, but new insurance guidelines also provide significant discounts for homeowners who deploy smart technologies in their homes.

Pricing and revenue

Culina will initially monetize from hardware sales.

Our product will sell for $149 MSRP with approximately 40% profit margin. We will initially sell our product through popular e-commerce platforms and through our website — followed by brick-and-mortar outlets including Lowe's, Best Buy, Home Depot, and other major big box retailers.

Company Milestones:

With much of the heavy lifting already completed, Culina has laid the groundwork for rapid expansion going forward. Here's an overview of our accomplishments since first founding the company in 2013.

Consumer Validated:

Our first-generation product is market-ready and primed for commercial manufacturing. We have pre-sold 10,000 units, representing approximately $1,890,000 in pre-launch revenue. Our immediate customer base growing by the day and we have successfully proven that this is a product that consumers want and are enthusiastic about.

Investor-Backed:

We have secured a total of $5 million in funding from angel investors, founder capital, friends and family, and VCs.

Proprietary Technology:

We have applied for and have been granted a provisional patent for our Smart Plug technology.

Strategic Partnerships:

We are in the process of building relationships with notable industry leaders, influencers, and development teams in the home automation sector. We are also in advanced-stage partnership discussions with a number of major name insurance providers.

Press Mentions:

Culina has received coverage in many of today's most renowned tech and entrepreneurial publications, including The Wall Street Journal, The Huffington Post, TechCrunch, The Verge, WIRED, and Engadget, among others.

Manufacturing:

A US-based contract manufacturer has been secured and is ready to begin production with the capacity to produce around 50K units per month as we scale.

Future Development

Our initial focus on the consumer space with our launch product is just the first step in our long-term roadmap to growth. In order to capture a larger market share and continue scaling the company exponentially, we are planning on rolling out a B2B model in the future. This will provide Culina with new revenue streams and will offer a valuable, tech-driven solution for businesses.

Commercial Kitchens:

Commercial kitchens consume a huge amount of energy — roughly 2.5 times more per square foot than any other commercial space, according to the EPA.

The Foodservice Consultants Society International (FCSI) estimates commercial kitchen equipment is often only 50% efficient. The challenge with reducing energy consumption in commercial kitchens is that it's neither practical nor affordable to replace all kitchen equipment or redesign entire workspaces.

In an effort to reduce CO2 emissions, some governments are offering incentives to businesses that can cut back on their carbon footprint. In the UK, Enhanced Capital Allowances allow businesses to benefit from 100% tax relief on their qualifying capital expenditure on energy-saving equipment. This can provide a cash flow boost and an incentive to invest in energy-saving equipment which normally carries a price premium compared to less efficient alternatives.

Our 2nd generation product will represent a revenue-generating and energy-saving solution for commercial kitchens where equipment is frequently selected based on low capital cost with little regard to whole life-cycle cost and the resulting negative energy consumption.

Built on cloud computing, machine-to-machine communication, and information-gathering sensors, the Internet of Things market is rapidly making more and more commonplace devices “smarter.” Factor in the increasing prevalence of smartphones and tablets, and home automation and IoT products are now becoming much easier to use and significantly more affordable than they have ever been before.

What was once only reserved for the wealthy and tech-savvy, everyday consumers now have direct access to and can take advantage of a growing number of home automation devices. The evolution of the Internet of Things has enabled consumers to digitally connect and remotely control everything from their door locks to their thermostat to their garage opener and essentially everything else in between. Evidence of the enormous impact home automation tech has had in the consumer space can be seen in the enormous adoption of products like Nest and Amazon Echo.

The home automation market and Internet of Things (IoT) space is a thriving industry with growth expected to exceed $50 billion by 2020. This represents an estimated 300% increase from today's market of $12.5 billion. Around 8.4 billion connected devices will be installed globally by the end of 2017, representing a +31% increase in just one year. Around 63% of these devices will be used by consumers, with the remainder deployed by businesses.

Culina is perfectly positioned to capitalize on a major multi-billion dollar market opportunity to provide greater protection, actionable intelligence, lower energy consumption, and more cost savings to the millions of homes in the US.

Target Audience

We are directly targeting three specific target populations for our product:

Homeowners:

Homeowners are our end users and will benefit the most from our product. For homeowners, Culina represents safety, peace of mind, increased convenience, and an economically-wise investment that pays for itself over time.

Residential Property Managers:

Including apartment complexes and student housing owners. Culina offers increased owner ROI, occupant satisfaction, and significantly lower operational and maintenance costs.

Insurance Companies:

By reducing home fires caused by unattended cooking and the resulting billions of dollars in related insurance claims filed every year. Insurance companies can also leverage our technology to adjust homeowners insurance policy pricing.

Marketing Strategy

Culina has carefully developed a diverse marketing plan intended to keep our brand in the hearts and minds of our existing and prospective customers, enabling us to continue expanding our reach and grow our business. Between our massive social network followings and email database contacts, we regularly communicate directly with over 100,000 consumers.

SEO & Social:

We will drive traffic and conversions to our website using social media marketing via Facebook, LinkedIn, Twitter, Instagram, Snapchat, YouTube, and others. We are also exploring SEO and SEM.

Content Marketing:

We consistently release marketing content through our blog that aims to educate our audience about the value that our product provides. Our content marketing efforts aim to influence and persuade readers without having to rely solely on conventional direct selling tactics.

Influencer Marketing:

We will launch an initiative to guest blog articles and features in IoT, home automation, and startup tech publications like TechCrunch, Wired, VentureBeat, and other outlets in our industry.

Competitive Landscape

Primary competitors for Culina include other companies that are currently operating in the home automation and Internet of Things space, such as Nest Labs, Amazon Echo, and Wallflower Labs.

Leading home automation company Nest introduced its first product, Nest Learning Thermostat, in 2011. The company was founded in 2010 by former Apple engineers Tony Fadell and Matt Rogers and is headquartered in Palo Alto, California. Nest was acquired by Google on January 14, 2014, by Google for $3.2 billion and still operates under its own brand identity.

Nest Labs designs programmable, self-learning, sensor-driven, Wi-Fi-enabled thermostats, smoke detectors, and other security systems.

The 3rd generation Nest Thermostat prices at $249; Nest Indoor and Outdoor Cams are $199; and their Smoke & CO Alarm retails for $99.

Key Weaknesses:

After Nest's acquisition, the company has underperformed in sales and fallen below the expectations that Google set for them when it purchased the startup.

Amazon Echo

Amazon Echo, also known as Alexa, is a voice command device powered by artificial intelligence and designed by mega online retailer Amazon.com. The smart home hub was initially released in November 2014.

Alexa is a voice-activated virtual assistant housed within the Echo smart speaker. Users simply say her name and then ask a question or give a command.

The Amazon Echo retails for $99 for Amazon Prime members and $170 for everyone else.

However, some users have noted the uneven sound quality and limited “skills” capabilities. Users can also only interact and communicate with Alexa in English and German.

Founded December 1, 2013, Wallflower Labs is a Charleston, MA-based startup that designs an internet-connected smart plug that works with any freestanding plug-in electric stove. The company's founder previously founded Yap — a speech recognition technology that was acquired by Amazon in 2011 to help develop Alexa. The startup has raised a total of $2.5 million from three rounds of equity funding to date, with the most recent funding reported at $1.5 million via a convertible note on August 30, 2016.

The smart plug sounds an alarm and alerts homeowners via smartphone when the stove is turned on, someone forgets to turn it off, when a cooking time expires, or the smoke alarm activates.

Because Wallflower Labs are still in the pre-launch phase, the company has not yet publicly released consumer pricing information.

Unlike Culina, which connects with all smart appliances and cooking devices in the kitchen, Wallflower Labs is solely focused on monitoring stove usage.

How Culina Measures Up:

Differentiating Factors

Culina maintains a unique competitive advantage over other existing home automation and IoT products in several categories. Our biggest differentiators include:

Diverse Product Capabilities

Culina makes it possible to gain an across-the-board view from an entire network of interconnected devices. Whether they're connected to the refrigerator, gas or electric-powered stove, microwave, or dishwasher, our Smart Plugs can deliver insight into everything from smoke and gas detection, to temperature changes, and usage metrics — regardless of the brand and through a single, user-friendly app.

User-Friendly

Our technology is easy to use and doesn't require any technical-savvy. Setup and configuration are simple, users are able to be up and running out of the box in approximately 10 minutes, and software updates are deployed over the air.

Affordability

Culina is priced below our competitors' products while delivering superior functionality and value. This will be an essential factor in helping us continue to gain market share nationally.

Team Strength Our team is comprised of industry veterans who bring decades of experience to the table across industrial design, mobile tech, cloud-based technology, artificial intelligence, and more.

Our leadership team has a history of starting and leading companies to successful exits and has established valuable relationships with industry leaders along the way that will help us strategically position Culina as a market innovator in the days ahead.

Investment Opportunity

Culina is currently seeking a total of $15M in  Series B equity financing  to fuel the next stage of company growth — including manufacturing, pre-order fulfillment, ongoing development of our platform, and marketing efforts in order to continue expanding the Culina brand. Any remaining funds will be allocated as operating capital.

Why Invest in Culina? With Culina, investors have the opportunity to get in on the ground floor with a company that's positioned to grow into a leading innovator in the home automation and IoT space.

With Culina, we've tapped into something truly extraordinary that's being celebrated by both early adopters and investors alike. With 10,000 units pre-sold and $1.89M in pre-launch revenue , we've already successfully demonstrated validation in the consumer space. With over $5 million in funding secured across several financing rounds, we've already proven that investors believe in our company, our mission, and our ability to succeed.

We've also established a scalable business model and robust product pipeline that will prime us for widespread expansion in the days ahead. We're now seeking investors who share our passion and commitment to pushing the boundaries of what home automation can be and do through nextgen technology.

We're looking forward to working with you in accelerating Culina's growth to become a dominant player in the booming global home automation and IoT industry.

In Conclusion

We hope these  business plan  examples will get you started on the right path in getting your business idea into a full-on company. Keep in mind that these startup business plan examples are not a uniform guide for every business, and some information may vary. You may need a 5-year business plan template, or perhaps just some business plan examples for students. Make sure to remember this as you start writing your business plan, and comment below to let us know if these examples of business plans for startups were helpful in your startup journey.

For more helpful founder information: check out our podcast! The No BS version of startup life you've been looking for:  Startup Therapy .

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While not required, this last section of your business plan is a great place to drop in additional documents that support and strengthen the rest of your plan.

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