Business Plan Template
A business plan is the “ground floor” for starting a business. A business plan lays out how you plan to structure, grow, and operate your business. Further, a business plan is also essential for presenting to investors and lenders. Most successful business millionaires use one of two types of business plan templates shown on this page, below.
Business plans are key for attracting funding and business partners in the infancy of your company. They will help investors to understand your plans for your business and see that they will get profit from their investment.
Do not obsess over the “right” business plan because there is not such thing as right or wrong. There are two basic types of business plans: the traditional business plan or lean startup.
Overview
Traditional Business Plan. Traditional business plans are common because it is easy to prepare. They have a standard structure and encourage detail in each section. Because traditional business plan are more detailed, it requires more efforts and are more pages. However, because traditional business plans are more comprehensive, investors and lenders tend to favor these types of business plans.
Lean Business Plan. Lean startup business plans still use a standard structure, but they only contain the most important elements of the plan. They are typically one page long and can usually be completed in an hour. While these are acceptable, lenders and investors may require more information.
Business Plan Template: Traditional
[Words between brackets means notes for reader. Do not include in business plan.]
[Cover page]
ABC Consulting Services
Business Plan
Jane Doe, Owner
Created on 23rd of October 2020
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Executive Summary
Product
ABC Consulting Services provides small and medium-sized companies with consultation services. We reduce administrative costs and improve efficiency with business process re-engineering and office management.
Customers
Our target audience is businesses of between 5 and 500 employees who want to reduce overhead costs and increase productivity. We will contact HR directors, presidents, CEOs, or business owners.
Our specialization is consulting with executives in the technology industry to automate, eliminate, or work more efficiently on time-consuming tasks such as:
- Leadership
- Production
- Financial best practices
- Hiring best practices
- Job tracking
We help executives to focus on the most important aspects of their job so they can be more productive and achieve job satisfaction.
Company’s Future
Consulting is a growing industry with $30 billion dollars being spent on consulting services in the U.S. last year. In the future, ABC Consulting Services will expand into automation technology and leadership and AI training seminars.
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Company Description
Mission Statement
To help our clients grow and prosper by allowing them to focus on the important things.
Principal Members
Jane Doe – Business owner and head consultant
John Doe – Sales manager
Jonathan Doe – Account manager
Legal Structure
ABC Consulting Services is an S Corp, incorporated in San Francisco, California. We have registered our domain name and filed for protection of our logo. We have already claimed our name on social media for future use.
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Market Research
Industry
ABC Consulting Services will be part of the consulting industry. We plan on focusing our services on the technology industry. At the moment, the largest consulting companies are Time Poor No More and Focused Solutions. While they work with some technology companies, they do not specialize in working with the technology industry. They also work with larger companies and international clients. We intend to stick with small, start up companies who work in the San Francisco Bay Area.
The industry is growing, and we believe there is a market for consulting with brilliant technological minds who lack emotional intelligence or administrative abilities. By freeing up their time, they can spend more time developing cutting-edge technology.
Customers Description
ABC Consulting Services will approach companies in San Francisco to offer our consulting services to their Chief Product Officers or Senior Product Developers. They have some of the brightest tech brains in San Francisco working for them, but their productivity is being hampered by administration or leadership work.
We target start up companies where our consulting services can help them to grow faster and use their funding more efficiently. Our target customers will be considering expanding their staff and growing. Our sales manager John Doe has contacts in the technology industry, so we will utilize those connections to warm pitch to potential clients.
Company Advantages
Compared to competitors, ABC Consulting Services has the following advantages:
- An understanding of the tech industry and the fast-paced environment it fosters
- The ability to offer dedicated consulting services as a boutique consulting firm
- Access to cutting edge administrative systems for ultimate efficiency
- Face to face assistance and training
- Ability to conduct shadowing days to identify any areas where productivity can be improved.
Regulations
ABC Consulting Services must meet all federal, state, and local regulations for consulting businesses, such as Code of Federal Regulations in Title 99, Parts 1234.
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Products & Services
Product/Service
Our consulting services will be focused on administration, leadership, efficient meetings, production, and emotional intelligence. We will not be consulting on the technical aspects of jobs. We will be offering these services initially with a view to expand once we can hire additional consultants:
- Bronze Package – 2-day shadow and suggestions of ways to boost productivity
- Silver Package – 2-day shadow, a summary of findings, and 2 points of training
- Gold Package – 2-day shadow, a summary of findings, 2 points of training, and administration restructure
- Platinum Package – 2-day shadow, a summary of findings, 3 points of training, administration restructure, and policy review.
Pricing Structure
- Bronze Package – $100 per employee
- Silver Package – $300 per employee
- Gold Package – $500 per employee
- Platinum Package – $1000 per employee
Product Life-cycle
We can offer our services to multiple employees within their company. As we expand, we plan to offer additional products such as productivity reviews and ongoing support.
Research and Development
We plan to measure employee productivity during the 2 days shadowing and then again 2 months later to see what value we added. From there, we will look at ways to improve our offerings and provide a bigger increase in productivity to our clients.
The metrics we plan to look at are:
- Time spent doing technical work
- Leadership decision rating
- Time spent answering emails
- The number of interruptions during technical work
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Marketing and Sales
Growth Strategy
Our sales manager will use his contacts in the San Francisco tech industry to make warm pitches to company directors and CEOs. We will also attend networking events and conferences to widen our client base.
Communication with the Customer
We will communicate with our customer using a range of different methods:
- In-person at industry-relevant events to meet new clients.
- Through video conferencing for an initial consultation and brief.
- We will work with them at their offices to shadow, implement changes, offer training programs.
- Using the telephone and email to answer any questions and provide updates.
Sales
Currently, John Doe is the only salesperson for ABC Consulting services. As our business expands, we will hire an employee with tech industry contacts to assist in finding and on-boarding clients.
Business Plan Template: Lean
[Words between brackets means notes for reader. Do not include in business plan.]
[Cover page]
Eco Warrior Toys
Business Plan
John Doe, Owner
Created on 23rd of October 2020
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Executive Summary
Product
Eco Warrior Toys manufactures high-quality, environmentally-friendly toys for young children. All toys are made from sustainable and recyclable materials such as hardwoods and metal. The toys are made to be suitable for a child as they grow and develop and hard-wearing enough that they will still be in good condition for years of play.
Customers
The target customer for Eco Warrior Toys is young parents who are environmentally conscious and grandparents. These parents and grandparents wish to preserve the environment for their children, yet also provide the child with engaging and imaginative toys.
Company’s Future
The toy manufacturing business is highly competitive, but there is little competition in environmentally-friendly toys.
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Company Description
Mission Statement
To create high-quality, creative toys that will provide years of fun and protect the environment.
Principal Members
John Doe – owner and designer
Jeannette Doe – Bookkeeper and business manager
Steven Lee – Toy builders
Mahul Patel – webmaster
Legal Structure
Eco Warrior Toys is an LLC
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Market Research
Eco Warrior Toys will operate in the toy manufacturing industry. At the moment, eco-friendly toys are a niche in the toy industry. The largest companies making wooden toys are Happy World Toys and Wooden Ya Know Toys. These companies have a large staff and buy their products from international manufacturers. Other companies are small businesses which sell at craft fairs or online providers like Etsy.
The industry has been going from strength to strength as consumers become conscious of the effect toys have on the environment.
Customers Description
Eco Warrior Toys will focus their marketing on young parents between the ages of 18 and 35 who are environmentally conscious. Grandparents of young children will be the secondary target market. Our target customers earn between $40,000 and $100,000 per year and want toys that assist with development and creativity. These customers research the products they buy to ensure they are safe and high-quality. They will spend more money on long-lasting products that their kids will engage with.
Company Advantages
Eco Warrior Toys has these advantages over its competitors:
- Easy to assemble
- High-quality toys that can withstand generations of play
- Locally sourced wood and locally made toys to reduce the carbon footprint
- User-friendly interactive website
- Toys that encourage skill development and foster creativity
- Play It Forward Program: a program that allows customers to donate their toys to low-income local families if they do not plan to have more kids or keep the toys for the next generation.
Regulations
Eco Warrior Toys must meet the strict regulations surrounding toy manufacturing, including:
- Code of Federal Regulations in Title 101, Parts 1234
- F.R. 6789.18(b)(8)
- Consumer Product Safety Improvement Act of 2008
- Lead-Free Toys Act
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Products & Services
Product/Service
Eco Warrior Toys will manufacture and sell eco-friendly toys made from hardwood. The toys are designed to be easy to use for children and encourage development. We currently have these products:
- Dump truck
- Unisex toolbox
- Sorting cube with coloured shapes
- Unisex kitchen
- Unisex doctor set
- Wooden trolley with blocks
- Wooden train set with 50 tracks
- Wooden farm
- Wooden dollhouse
Pricing Structure
- Dump truck $35
- Unisex toolbox $40
- Sorting cube with coloured shapes $40
- Unisex kitchen $80
- Unisex doctor set $40
- Wooden trolley with blocks $50
- Wooden train set with 50 tracks $60
- Wooden farm $50
- Wooden dollhouse $80
Product Life-cycle
We have an inventory of 100 of each toy, to begin with, and will continue production once sales start.
Intellectual Property Rights
Eco Warrior Toys is a trademarked name in the state of California.
Research and Development
We plan to conduct research and development by collecting feedback from our customers. This will be conducted through our website and with feedback cards in the toy packaging. We will also allow customers to vote on new toys and conduct market research through a third party.
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Marketing and Sales
Growth Strategy
Eco Warrior Toys will do the following to grow the company:
- Advertise in target markets, especially during the holiday season.
- Sell products at craft fairs in California.
Communicate with the Customer
We will use the following methods to communicate with our customers:
- Social media to share customers experiences with our toys and connect with our customers
- Using Facebook and Instagram advertisements
- Adding a company card in each box with our web address, company name, and contact info
- Providing an email newsletter to keep customers up to date with new products, craft fair schedules, and company news
Sales
We currently only have one sales manager at Eco Warrior Toys. When we expand, we will plan to add sales and marketing employees to expand our reach.