Business
Plan for a Startup
Business
The business plan consists of a narrative and several financial worksheets.
The narrative template is the body of the business plan. It contains more
than 150 questions divided into several sections. Work through the sections
in any order that you like, except for
the Executive Summary, which should be done last. Skip any questions that
do not apply
to your type of business. When you are finished writing your first draft,
you’ll have a collection of small essays on the various topics of the business
plan. Then you’ll want to edit them into a smooth‐%owing narrative.
The real value of creating a business plan is not in having the finished
product in hand; rather, the value lies in the process of researching and
thinking about your business in a systematic way. The act of planning helps
you to think things through thoroughly,
study and research if you are not sure of the facts, and look at your ideas
critically. It takes time now, but avoids costly, perhaps disastrous,
mistakes later.
This business plan is a generic model suitable for all types of businesses.
However, you should modify it to suit your particular circumstances. Before
you begin, review the section titled Rening the Plan, found at the end. It
suggests emphasizing certain areas depending upon your type of business
(manufacturing, retail, service, etc.). It also has tips for fine‐tuning your
plan to make an e,ective presentation to investors or bankers. If this is
why you’re creating your plan, pay particular attention to your writing
style. You will be judged by the quality and appearance of your work as well
as by your ideas.
It typically takes several weeks to complete a good plan. Most of that time is
spent in research and re‐thinking your ideas and assumptions. But then,
that’s the value of the process. So make time to do the job properly. Those
who do never regret the e,ort. And finally, be sure to keep detailed notes on
your sources of information and on the assumptions underlying your
financial data.
If you need assistance with your business plan, contact the SCORE o5ce in
your area to set up a business counseling appointment with a SCORE
volunteer or send your plan
for review to a SCORE counselor at www.score.org. Call 1‐800‐634‐
0245 to get the contact information for the SCORE o5ce closest to
you.
Page 2 of 31
Business
Plan
OWNERS
Your Business Name
Address Line 1
Address Line 2
City, ST ZIP Code
Telephone
Fax
E‐Mail
Page 3 of 31
I. Table of
Contents
I. Table of Contents
………………….………………………………………………………………….. 3
II. Executive Summary
………………….………………………………………………………………. 4
III. General Company Description
………………….……………………………………………… 5
IV. Products and
Services…………….…………………………………………………………………. 6
V. Marketing Plan
………………….……………………………………………………………………… 7
VI. Operational Plan
………………….…………………………………………………………………. 16
VII. Management and Organization
………………….…………………………………………… 21
VIII. Personal Financial Statement
………………….………………………………………………. 22
IX. Startup Expenses and Capitalization
………………….…………………………………… 23
X. Financial Plan
………………….……………………………………………………………………… 24
XI. Appendices
………………….…………………………………………………………………………. 27
XII. Refining the Plan
………………….…………………………………………………………………. 28
Page 4 of 31
II. Executive Summary
Write this section last.
We suggest that you make it two pages or fewer.
Include everything that you would cover in a five‐minute interview.
Explain the fundamentals of the proposed business: What will your
product be? Who will your customers be? Who are the owners? What do
you think the future holds for your business and your industry?
Make it enthusiastic, professional, complete, and concise.
If applying for a loan, state clearly how much you want, precisely how you
are going to use it, and how the money will make your business more
profitable, thereby ensuring repayment.
Page 5 of 31
III. General Company Description
What business will you be in? What will you do?
Mission Statement: Many companies have a brief mission statement,
usually in 30 words or fewer, explaining their reason for being and their
guiding principles. If you want to draft a mission statement, this is a good
place to put it in the plan, followed by:
Company Goals and Objectives: Goals are destinations—where you want
your business to be. Objectives are progress markers along the way to goal
achievement. For example, a goal might be to have a healthy, successful
company that is a leader in customer
service and that has a loyal customer following. Objectives might be annual
sales targets and some specific measures of customer satisfaction.
Business Philosophy: What is important to you in business?
To whom will you market your products? (State it brie%y here—you will
do a more thorough explanation in the Marketing Plan section).
Describe your industry. Is it a growth industry? What changes do you
foresee in the industry, short term and long term? How will your
company be poised to take advantage of them?
Describe your most important company strengths and core competencies.
What factors will make the company succeed? What do you think your
major competitive strengths will be? What background experience, skills,
and strengths do you personally bring to this new venture?
Legal form of ownership: Sole proprietor, Partnership, Corporation,
Limited liability corporation (LLC)? Why have you selected this form?
Page 6 of 31
IV. Products and Services
Describe in depth your products or services (technical specifications,
drawings, photos, sales brochures, and other bulky items belong in
Appendices).
What factors will give you competitive advantages or disadvantages?
Examples include level of quality or unique or proprietary features.
What are the pricing, fee, or leasing structures of your products or services?
