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Business Plan
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TABLE OF CONTENTS
EXECUTIVE SUMMARY
BUSINESS IDEA
3
4
What will the business do?
Who will pay the business to do it?
Why will they pay the business to do it?
4
4
4
MARKET RESEARCH
5
Target Market
Customer Segments
Industry Analysis
Customer Characteristics
Competition
SWOT Analysis
5
5
5
6
7
7
OPERATIONS
8
Business Ownership Structure
Scheduling and Human Resources
Location and Transportation
Furnishings, Equipment and Services
Product and Service Direct Costs
8
8
9
10
11
MARKETING
13
Four ‘P’ Analysis
13
FINANCIAL FORECAST
15
Sales Plan
Start-up Financing
12-Month Financial Forecast
15
15
15
RISK
17
Commercial Risk
Property and Liability Risk
17
17
ACTION PLAN
Business Plan
18
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EXECUTIVE SUMMARY
Write an executive summary. Keep it short and to the point. Points to include are (these can be used as
subheadings within the summary):

Business name and structure (sole proprietorship, partnership, or corporation)

Description of the business, its product(s)/service(s), and why customers will buy it/them

Overview of the target market, customer segments and competitive situation

Overview of the industry

Overview of operations

Overview of marketing

Summary of start-up financing requirements and how they will be met

Projected sales and profit

Risk analysis

Action plan
Executive Summaries are often done at the end of the business plan writing process even though it appears at the
beginning of the plan. The Executive Summary should not exceed 2 pages, and 1 page is the normal length.
Business Plan
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Page 3 of 18
BUSINESS IDEA
What will the business do?
Describe what your business will do.
Who will pay the business to do it?
Describe who you think your typical customer(s) is.
Why will they pay the business to do it?
Give reasons why your customers will pay you to do what you do.
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MARKET RESEARCH
Target Market
Location
What is the geographic location of your target market? Who are your potential customers and how
many are in this area?
Secondary Research
Describe the secondary research you used to determine these findings.
Primary Research
Describe the primary research you used to determine these findings.
Customer Segments
Can your target market be divided into smaller groups? Describe these groups. What is the appeal of
your product(s) or service(s) to them? How much are they willing to pay for your product(s) or service(s)?
How much will they consume? Is there a specific segment(s) you should focus on more than others?
Why?
Industry Analysis
What industry is your business in? Is the industry currently growing? In decline? What are the reasons
and how can you either protect yourself and/or take advantage? Are there seasonal and/or other trends
in this industry? If so, how can you protect yourself and/or take advantage?
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Customer Characteristics
Using the following table, provide a detailed picture of your customers. Enter information for all the
customer segments you’re targeting. If a category is not applicable to the target market, delete the row
and add rows as needed.
Demographics
Age
Income
Marital/family status
Ethnicity
Language(s)
Gender
Education
Other
Geographic
Where do my customers
live and in what type of
dwelling?
Other
Psychographics
Lifestyle descriptors
Hobbies/interests
related to my business
Political, religious
and/or other interest
related to my business
Other
Cultural Interests
Music preferences
Reading preferences
Food/dining preferences
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Entertainment choices
Internet choices
Clubs
Other
Competition
Who are your competitors? What are your advantages/disadvantages compared to them? How will you
compete with them? What do they charge for the products and services you will offer?
SWOT Analysis
Strengths
Opportunities
What key strengths do you have that will help you
What market conditions are to your advantage
succeed in the marketplace? List them here.
either now or in the future? List them here.
Weaknesses
Threats
What are some areas you need to strengthen to
What market conditions do you need to guard
succeed in the marketplace? List them here.
against now or in the future? List them here.
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OPERATIONS
Business Ownership Structure
In this space, discuss what business ownership structure you are choosing and why. Explain the
implications of your choice in terms of personal liability and how you will manage this. What are your
registration, permit and licence requirements, and how will you obtain them? List the business structure
costs in the table below. Add rows as required.
Business Structure Costs
Item
Notes
Start-up
$
$
$
Totals
Costs
Monthly
$
$
$
Annual
$
$
$
Scheduling and Human Resources
In this space, discuss what days of the week you’ll be open and what daily hours you’ll keep. When will
you be open for customers? What is your annual schedule? Is your business seasonal? How will you work
around other obligations, such as school and extra-curricular activities?
Also discuss your human resources needs and the associated costs. What benefits are you required to
provide your employees? What about workplace insurance? How much of your human resource
requirements will you fulfill yourself? List your human resource costs in the table below. Add rows as
required.
Human Resource Costs
Position
Business Plan
Notes
Hourly
Wage
$
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Costs
Hourly
Hours/
Benefits
month
$
Total
Page 8 of 18
Monthly
Cost
$
$
Location and Transportation
In this space, describe where your business will be located. Include details on any additional storage or
production space you will require. Also describe your transportation needs, such as vehicle purchases or
rentals, insurance, delivery contracts, etc. List your location and transportation costs in the table below.
Add and delete rows as required.
Location Costs
Item
Notes
Totals
Start-up
$
$
$
Costs
Monthly
$
$
$
Annual
$
$
$
Start-up
$
$
$
$
$
$
Costs
Monthly
$
$
$
$
$
$
Annual
$
$
$
$
$
$
Transportation Costs
Item
Gas
Vehicle Insurance
Car/Truck Purchase
Courier Service
Delivery Contract
Notes
Totals
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Furnishings, Equipment and Services
In this space, describe the office furniture, computers, office supplies and utilities you will need. Discuss
any special equipment you may need, such as tools and production or manufacturing equipment. Discuss
any professional services you’ll need, such as lawyers, accountants, computer support, etc. List your
furnishings, supplies, equipment and service costs in the tables below. Add and delete rows as required.
Furnishings, Supplies and Utility Costs
Item
Furniture
Computer
Printer
Paper, Printer Ink
Office Supplies
Utilities (Electricity, heating, water)
Phone
Internet
Notes
Totals
Start-up
$
$
$
$
$
$
$
$
$
Costs
Monthly
$
$
$
$
$
$
$
$
$
Annual
$
$
$
$
$
$
$
$
$
Start-up
$
$
$
Costs
Monthly
$
$
$
Annual
$
$
$
Start-up
$
$
$
Costs
Monthly
$
$
$
Annual
$
$
$
Equipment Costs
Item
Notes
Totals
Professional Services Costs
Item
Notes
Totals
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Product and Service Direct Costs
In this space, describe parts, materials and bulk items directly consumed in the manufacture and/or
delivery of your product(s) or service(s). Discuss any items that you need to have on-hand for the start-up
of your business and how you will keep a ready supply to avoid disruptions to your operations once the
business is underway. List the costs of your product(s)/service(s) in the tables below, and delete the
tables you do not require.
Product or Service 1
Component Costs
Item
Cost per Item
Costs
Quantity per Unit
of Product/Service
$
Subtotal
$
$
Totals
Start-up
Cost
$
$
Bulk Material Costs
Costs
Item
Notes
Bulk Cost
Units
$
Totals
Cost per
Unit
$
$
Start-up
Cost
$
$
Product or Service 2
Component Costs
Item
Cost per Item
Costs
Quantity per Unit
of Product/Service
$
Subtotal
$
$
Totals
Start-up
Cost
$
$
Bulk Material Costs
Costs
Item
Notes
Bulk Cost
Units
$
Totals
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Cost per
Unit
$
$
Start-up
Cost
$
$
Page 11 of 18
Product or Service 3
Component Costs
Item
Cost per Item
Costs
Quantity per Unit
of Product/Service
$
Subtotal
$
$
Totals
Start-up
Cost
$
$
Bulk Material Costs
Costs
Item
Notes
Bulk Cost
Units
$
Totals
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Cost per
Unit
$
$
Start-up
Cost
$
$
Page 12 of 18
MARKETING
Four ‘P’ Analysis
Product
Describe the appeal of the product/service to the target market(s) and any customer segments in it.
What features are relevant to the target market? What language style best communicates these
features to the target market and/or customer segments? Try writing some marketing copy – prepare a
short description(s) of the product(s) or service(s) that will catch the attention of the target market
and/or customer segment(s).
Place
In this space, describe where the target market (and/or any customer segments) will acquire the product
or service. Why is it a good place? List the reasons for this choice, including the nature of the
product/service, the ease with which customers can access the product/service, cost considerations,
business hours, etc.
If applicable, use the table below to list any ‘Place’ costs that were not covered earlier in the operations
section. These could include improvements to the business location to make it a suitable sales
environment, costs associated with running a Web-based business, such as building an e-commerce
website, or the costs of renting separate retail space.
‘Place’ Costs
Item
Notes
Totals
Start-up
$
$
$
Costs
Monthly
$
$
$
Annual
$
$
$
Note: If you have variable distribution and/or product placement costs, enter them in the Product and Service
Costs section under Operations.
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Promotion, Part 1: Value Statement, Business Name and Slogan
In the space below, explain your value statement and your selections for your business name, slogan and
product/service name(s). List theses items in the table below and add rows as required.
Value statement
Business name
Business slogan
Product/Service 1 name:
Product/Service 2 name:
Product/Service 3 name:
Promotion, Part 2: Advertising, Publicity and Promotional Events
Outline your promotional strategy. What advertising are you planning and why it will be effective? What
publicity will you try to generate? What promotional events are planned? How does your market
research support these choices as the way to communicate with your target market and/or customer
segments? Fill out the table below with the associated costs.
Advertising and Promotional Event Costs
Item
Notes
Start-up
$
$
$
Totals
Costs
Monthly
$
$
$
Annual
$
$
$
Price
Explain your pricing strategy in this space. What message does/do the price(s) give about the
product(s)/service(s)? If the price is higher than the competition’s, is it justified by extra features and/or
support? List your prices in the table.
Product/Service Name
Price
Enter Product/Service 1 name here
$
Enter Product/Service 2 name here
$
Enter Product/Service 3 name here
$
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FINANCIAL FORECAST
Sales Plan
In this space, explain how you developed your monthly and total annual sales figures. What percentage
of the target market is going to be captured? Are there seasonal buying patterns that affect your
projection positively or negatively? When are sales expected to increase in response to the marketing
efforts and/or word-of-mouth marketing? What will the total revenue be for the first 12 months?
Start-up Financing
Use this space to discuss your start-up funding requirements. How much money is needed? Provide an
overview of what it’s for. How will start-up costs be financed? If it’s a lender, what are their terms?
12-Month Financial Forecast
Follow the steps in the Optimizer spreadsheet to enter the costing and pricing information you have
gathered. Enter the monthly sales projection from above. In the final sheet of the optimizer, you will see
your 12-month financial forecast.
Discuss your gross profit, fixed costs and monthly profit. Are any monthly shortfalls being forecast? If so,
how will you deal with them? If there is only one product or service, determine your breakeven point.
Discuss the total annual profit and what salary you will pay yourself from it.
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Financial Forecast Table
Copy and paste your 12-month financial forecast from the optimizer spreadsheet into the space below.
RISK
Assess any potential risks to the business and your contingency plans to minimize the impact of
these risks. Remember, it’s better to be proactive than reactive!
Commercial Risk
In the table below, list the commercial risks to the business. Rate the likelihood and impact of
each risk, and outline a plan to mitigate that risk by taking preventative action and/or corrective
action if the event does occur. Discuss any general practices to protect against commercial risk.
Will a portion of the profits be set aside as protection against a future revenue shortfall?
Commercial Risk
Likelihood
Impact
Low/Med./High
Low/Med./High
Mitigation Plan
Property and Liability Risk
Using the table below, list the casualty risks to the business. Rate the likelihood and impact of
each risk, and outline a plan to mitigate this risk by taking preventative action and/or corrective
action in the event that it does occur. Discuss practices to ensure a safe workplace, safe
products and safe services. Will liability insurance be purchased? Has it been added to your
costs?
Property and
Liability Risk
Likelihood
Impact
Low/Med./High
Low/Med./High
Mitigation Plan
ACTION PLAN
Short Term
List all the short-term steps needed to get the business off the ground and going. It may help to
start by imagining your launch date and working backward through all steps needed to get you
there. If applicable, talk about any major events that will take place after you launch.
Long Term
Where would you like the business to be in its second year? How about its fifth? How will you
get it there?
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