What Is a Business Plan?
A business plan is a written document that outlines your business goals and how you will achieve them. It covers key details like your products or services, operations, financials, and marketing strategy.
Whether you’re launching a startup or scaling an existing business, a business plan helps you stay focused, attract investors, and manage growth. It also shows lenders or partners that your business is viable and ready to succeed.
For businesses with multiple partners, you may also want to include a partnership agreement alongside your business plan.
Choose the Right Business Plan Format
Not all business plans need to be long and complex. The best format depends on your goals, audience, and how you’ll use the plan.
Traditional Business Plan
A traditional business plan is a detailed, full-length document perfect for applying for a loan or pitching to investors. It walks through every part of your business, like your mission, market research, strategy, and financial forecasts, in a structured way. This format gives readers the depth and clarity they need to understand your goals and why your business is built to succeed.
Traditional Business Plan Template
Create a detailed plan that lays out the details of how your business will achieve it's objectives.
One-Page Business Plan
A one-page business plan is a simplified version that’s perfect for internal use, early-stage startups, or quick presentations. It summarizes key aspects of your business, including your mission, goals, and performance metrics, in a fast, easy-to-share format that’s ideal for ongoing strategy and iteration.
One-Page Business Plan Template
Create a simplified version of a traditional business plan.
Traditional vs One-Page
Compare business plan formats below to choose the one that best fits your goals and audience.
| Format | Best Use Case | Length | Pros |
|---|---|---|---|
| Traditional Plan | External funding, bank loans | 7–20+ pages | Detailed, thorough, investor-ready |
| One-Page Plan | Internal strategy, early ideas | 1 page | Fast, concise, easy to iterate |
Business Plan Templates by Industry
Use a business plan template tailored to your business type. Each template includes guidance for filling out each section with examples.
Present your mission, programs, and funding goals to drive meaningful social impact and secure support
Non-Profit
Outline your childcare services, safety standards, and enrollment strategy to run a trusted daycare center
Daycare
Showcase your cuisine, dining experience, and operations to launch and grow a successful restaurant
Restaurant
Define your property focus, market strategy, and revenue model to thrive in the real estate industry
Real Estate
Highlight your mobile food concept, location plan, and cost management for a profitable food truck business
Food Truck
If your business is forming a limited liability company (LLC), consider pairing your plan with an LLC operating agreement. You can learn more about forming an LLC in our guide.
What to Include in a Business Plan
A strong business plan includes specific sections that communicate your strategy, operations, and financial outlook. Each part has a purpose and helps present your business clearly to internal teams or outside investors.
- Executive Summary: Summarizes your business idea, key objectives, and financial highlights; it should quickly explain what your business does and why it will succeed.
- Company Overview: Describes your company’s structure, legal status (e.g., LLC, corporation), location, and mission, giving context to your operations and business model.
- Market Analysis: Details your target market, customer demographics, industry trends, and competitors, showing that you understand your environment and demand for your product.
- Products or Services: Explains what you sell or offer, how it benefits customers, and what makes it stand out from competitors in the market.
- Marketing Strategy: Outlines how you plan to reach your target audience, retain customers, build your brand, and measure marketing success through various channels.
- Operations Plan: Breaks down how your business functions day to day, including processes, technology, supply chain, staffing, and fulfillment strategies.
- Management and Team: Introduces your leadership and key team members, outlining their roles, experience, and why they’re essential to your success.
- Financial Plan: Includes projected income statements, balance sheets, and cash flow, helping investors or partners understand your revenue potential and funding needs.
- Funding Request: If applicable, it specifies how much capital you need, what you’ll use it for, and your plan for repayment or return on investment.
- Appendix: Includes supplemental materials such as legal documents, resumes, permits, graphs, or market research that support your plan.
Need help pitching your idea? Download a business proposal to share alongside your plan.
How to Make a Business Plan
Follow these steps to build a complete, investor-ready business plan, whether you’re starting from scratch or updating an existing one.
Step 1: Choose Your Plan Format and Template
Start by choosing the type of business plan that fits your goals:
- If you need funding or will be presenting to investors, go with a detailed traditional format.
- If you’re keeping things simple or just outlining your strategy internally, a one-page plan might be all you need.
Once you’ve decided, pick a template that matches your industry and business style.
Step 2: Collect Key Business Information
Gather all the essential business details before you start writing. This includes the:
- company mission
- legal structure
- target market
- market data
- estimated expenses
- pricing strategy
- product or service details.
If you’re unsure how to organize or protect sensitive details, consider using a non-disclosure agreement (NDA) when sharing your plan with outside parties.
Step 3: Fill In and Customize Your Business Plan
Start filling in your template using clear, confident language. Wherever you can, back up your ideas with real numbers and solid research, especially when describing your market, competitors, and financial projections.
Don’t worry about making it perfect right away. Focus on being honest and clear. The aim is to build a plan that’s convincing, practical, and truly reflects how your business will succeed.
Step 4: Finalize and Share Your Plan
Once you have a draft, take a step back and review it. Read it out loud to catch awkward phrasing, fix typos, and ensure your ideas flow from start to finish. When it feels polished and professional, save it as a PDF or Word document. You’re ready to share it with investors, lenders, or anyone who needs to understand your business.
Step 5: Keep Your Plan Updated
Your business plan isn’t something you write once and forget. It should grow with your business. Make it a habit to revisit your plan regularly—update your goals, refresh your market data, and reflect on what’s changed as your business evolves. Keeping your plan up to date ensures it stays useful, relevant, and aligned with your long-term strategy.
Sample Business Plan
Below, you can see what a business plan looks like. You can customize this business plan template with Legal Templates and then download the completed plan in PDF or Word format.
