Free Business Plan Template and Examples for Small Businesses (2023)

Jun 28, 2023
11 minute read

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A good business plan is the secret tostarting a businesssuccessfully.

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

You’re already investing time and energy in refining your business model and planning your launch—there’s no need to reinvent the wheel when it comes to formatting your plan. Instead, to help build a complete and effective plan, lean on time-tested structures created byentrepreneursand startups who have come before you.

Ahead, learn what it takes to create a solidbusiness planand download our free business plan template to get started on your dream today.

What our free business plan template includes

This outline of a business plan is designed to ensure you’re thinking through all of the important facets of starting a new business. It’s intended to help new business owners and entrepreneurs consider the full scope of running a business and identify functional areas they may not have considered or where they may need to level up their skills as they grow.

That said, it may not include the specific details or structure preferred by a potential investor or lender. If your goal with a business plan is tosecure funding, check with your target organizations—typically banks or investors—to see if they have business plan templates you can follow to maximize your chances of success.

Free: Business Plan Template

Business planning is often used to secure funding, but plenty of business owners find writing a plan valuable, even if they never work with an investor. That’s why we put together a free business plan template to help you get started.

Our free business plan template includes seven key elements typically found in the traditional business plan format:

Executive summary:This is a one-page summary of your whole plan, typically written after the rest of the plan is completed. The description section of your executive summary will also cover your management team, business objectives and strategy, and other background information about the brand.
Company overview:This section of your business plan will answer two fundamental questions: “Who are you?” and “What do you plan to do?” Answering these questions clarifies why your company exists, what sets it apart from others, and why it’s a good investment opportunity. This section will detail the reasons for your business’s existence, its goals, and its guiding principles.
Products or services offered:What you sell and the most important features of your products or services. It also includes any plans for intellectual property, like patent filings or copyright. If you do market research for new product lines, it will show up in this section of your business plan.
Market analysis:This section includes everything from estimated market size to yourtarget marketsand competitive advantage. It’ll include acompetitive analysisof your industry to address competitors’ strengths and weaknesses. Market research is an important part of ensuring you have a viable idea.
Marketing plan:How you intend to get the word out about your business, and what strategic decisions you’ve made about things like your pricing strategy. It also covers potential customers’ demographics, your sales plan, and your metrics and milestones for success.
Logistics and operations plan:Everything that needs to happen to turn your raw materials into products and get them into the hands of your customers.
Financial plan:It’s important to include a look at your financial projections, including both revenue and expense projections. This section includes templates for three key financial statements: an income statement, a balance sheet, and acash-flow statement. You can also include whether or not you need a business loan and how much you’ll need.

In our business plan template, each section includes an overview of the most important information to cover and guidelines on how to approach writing and researching each one.

Business plan examples

What do financial projections look like on paper? How do you write an executive summary? What should your company description include? Sample business plans can help answer some of these questions and transform your business idea into an actionable plan.

Professional business plan example

Inside our template, we’ve filled out a sample business plan featuring a fictionalecommerce business.

The sample is set up to help you get a sense of each section and understand how they apply to the planning and evaluation stages of a business plan. If you’re looking for funding, this example won’t be a complete or formal look at business plans, but it will give you a great place to start and notes about where to expand.

Tip:Before you write your own, browse morebusiness plan examplesto inspire you.

Example text in a business plan company overview section — Snapshots of company overview and market analysis page of a sample tea brand’s business plan.

Example text in a business plan's market analysis section — Snapshots of company overview and market analysis page of a sample tea brand’s business plan.

Lean business plan example

A lean business plan format is a shortened version of your more detailed business plan. It’s helpful when modifying your plan for a specific audience, like investors or new hires.

Also known as a one-page business plan, it includes only the most important, need-to-know information, such as:

Company description
Suppliers
Key members of your team
Customer segments
Marketing plan

Tip:For a step-by-step guide to creating a lean business plan (including a sample business plan), read our guide onhow to create a lean business plan.

Example text in a business plan's marketing plan section — Snapshot of marketing plan section page of a sample tea brand’s business plan.

Benefits of a solid business plan

It’s tempting to dive right into execution when you’re excited about a new business or side project, but taking the time to write a thorough business plan and get your thoughts on paper allows you to do a number of beneficial things:

Test the viability of your business idea.Whether you’ve gotone business ideaor many, business plans can make an idea more tangible, helping you see if it’s truly viable and ensure you’ve found a target market.
Plan for your next phase.Whether your goal is to start a new business or scale an existing business to the next level, a business plan can help you understand what needs to happen and identify gaps to address.
Clarify marketing strategy, goals, and tactics.Writing a business plan can show you the actionable next steps to take on a big, abstract idea. It can also help you narrow your strategy and identify clear-cut tactics that will support it.
Scope the necessary work.Without a concrete plan, cost overruns and delays are all but certain. A business plan can help you see the full scope of work to be done and adjust your investment of time and money accordingly.
Hire and build partnerships.When you need buy-in from potential employees and business partners, especially in the early stages of your business, a clearly written business plan is one of the best tools at your disposal. A business plan provides a refined look at your goals for the business, letting partners judge for themselves whether or not they agree with your vision.
Secure funds.Seeking financing for your business—whether from venture capital, financial institutions, orShopify Capital—is one of the most common reasons to create a business plan.

Why you should you use a template for a business plan

A business plan can be as informal or formal as your situation calls for, but even if you’re a fan of the back-of-the-napkin approach to planning, there are some key benefits to starting your plan from an existing outline or simple business plan template.

No blank-page paralysis.A blank page can be intimidating to even the most seasoned writers. Using an established business planning process and template can help you get past the inertia of starting your business plan, and it allows you to skip the work of building an outline from scratch. You can always adjust a template to suit your needs.
Guidance on what to include in each section.If you’ve never sat through a business class, you might never have created aSWOT analysisor financial projections. Templates that offer guidance—in plain language—about how to fill in each section can help you navigate sometimes-daunting business jargon and create a complete and effective plan.
Knowing you’ve considered every section.In some cases, you may not need to complete every section of a startup business plan template, but its initial structure shows you you’re choosing to omit a section as opposed to forgetting to include it in the first place.

Tips for creating a successful business plan

There are some high-level strategic guidelines beyond the advice included in this free business plan template that can help you write an effective, complete plan while minimizing busywork.

Understand the audience for your plan

If you’re writing a business plan for yourself in order to get clarity on your ideas and your industry as a whole, you may not need to include the same level of detail or polish you would with a business plan you want to send to potential investors. Knowing who will read your plan will help you decide how much time to spend on it.

Know your goals

Understanding the goals of your plan can help you set the right scope. If your goal is to use the plan as a roadmap for growth, you may invest more time in it than if your goal is to understand the competitive landscape of a new industry.

Take it step by step

Writing a 10- to 15-page document can feel daunting, so try to tackle one section at a time. Select a couple of sections you feel most confident writing and start there—you can start on the next few sections once those are complete. Jot down bullet-point notes in each section before you start writing to organize your thoughts and streamline the writing process.

Tip:Once you’ve done the strategic work, it’s time to put it into action and write your plan. Review our guide onwriting a business planfor additional information.

Maximize your business planning efforts

Planning is key to the financial success of anytype of business, whether you’re a startup, non-profit, or corporation.

To make sure your efforts are focused on the highest-value parts of your own business planning, like clarifying your goals, setting a strategy, and understanding the target market and competitive landscape, lean on a business plan outline to handle the structure and format for you. Even if you eventually omit sections, you’ll save yourself time and energy by starting with a framework already in place.

Business plan template FAQ

What is the purpose of a business plan?

The purpose of your business plan is to describe a new business opportunity or an existing one. It clarifies the business strategy, marketing plan, financial forecasts, potential providers, and more information about the company.

How do I write a simple business plan?

Choose a business plan format, such as a traditional or a one-page business plan.
Find a business plan template.
Read through a business plan sample.
Fill in the sections of your business plan.

What is the best business plan template?

If you need help writing a business plan, Shopify’s template is one of the most beginner-friendly options you’ll find. It’s comprehensive, well-written, and helps you fill out every section.

What are the 5 essential parts of a business plan?

The five essential parts of a traditional business plan include:

Executive summary:This is a brief overview of the business plan, summarizing the key points and highlighting the main points of the plan.
Business description:This section outlines the business concept and how it will be executed.
Market analysis:This section provides an in-depth look at the target market and how the business will compete in the marketplace.
Financial plan:This section details the financial projections for the business, including sales forecasts, capital requirements, and a break-even analysis.
Management and organization:This section describes the management team and the organizational structure of the business.

Are there any free business plan templates?

There are several free templates for business plans for small business owners available online, including Shopify’s own version. Click the button below to access a copy for your business.