business plan letter

How to Write an Effective Business Plan Cover Letter

Written by Dave Lavinsky

Anyone who is seeking investment or a loan should have a well-written and well-researched simple business plan template . It will not only help you to make a good first impression with potential investors and lenders, but it can also provide them with all of the information they need in order to make their decision about funding your business.

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When approaching investors and lenders, you will want to make sure that you have a cover letter to introduce your business plan. In this article, you will learn what a business plan cover letter is, why it is important, and a proven template for you to use.

A business plan cover letter is a type of professional correspondence that you send with your business plan to introduce yourself and your plan to a potential investor or lender. It is important to make a good first impression with your cover letter, as it is likely the first thing the reader will see.

Why is a Business Plan Cover Letter Important?

The main purpose of the cover letter is to make a good first impression and to sell your business idea. It is also your chance to explain why your business is a good investment or business loan candidate.

Optionally, you can explain why you are approaching the potential investor or lender and what they can gain from investing in your business.

How to Write a Cover Letter Properly

In order to compose an effective cover letter, you should keep several things in mind.

First, try not to exceed a half-page for your cover letter. The person that you are sending it to is likely going through a large stack of business plans, and they don’t have time to read a long cover letter from every business owner in need of funding. It should be long enough to make a good impression, but short enough to create interest to entice the reader to read your business plan to learn more.

Second, you should make sure that your cover letter is well-written and professional-looking. It is important to take the time to draft a good cover letter, in the proper business cover letter format, as it can help to make a positive impression on the reader.

Finally, you should tailor your business plan cover letter specifically for the person or company you are sending it to. If you were sending it to a small business investor, you should mention that. If you were sending it to a bank, make sure to mention your plans for repayment of the loan. 

However, because most business plans are sent to investors or lenders via email, a formal cover letter isn’t always needed. Rather, you can simply put a note in the body of your email.

Regardless of the method of delivery, your contact information should be included, as well as any other important details that will help your reader contact you to talk through your funding options further.

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Growthink’s business plan cover letter template.

Below is our sample business plan cover letter template that can either be sent via email or printed:

[Your Name] [Business Name] [Street Address] [City, St Zip]

[Name of Investor/Lender] [Title] [Company] [Address] [City, St Zip]

Dear [Name of Investor/Lender]:

Attached please find the business plan for [Business Name].

I think you will find it very interesting and hopefully a fit with your investment criteria.

If you have any questions or would like to schedule a meeting to discuss further, please email me at [your email address] or call me at [your telephone number].

[Sign here if cover letter sent by mail, fax, or delivered in person]

[Your Name] [Business Name] [Title]

Other Business Plan Cover Letter Examples

Use the cover letter examples below to help inspire you to create your own cover letter for your new business venture or to grow your existing organization.   

Olivia’s Bakery

Dear Investor,

Olivia’s bakery is a family-owned and operated business that has been in operation for over five years. We are a full-service bakery that specializes in creating delicious, fresh pastries, cakes, and breads.

Our bakery has been a staple in the community and we have developed a strong following of customers who appreciate our unique products. Our goal is to continue growing our business by expanding our product offerings and reaching new customers.

We believe that our bakery has great potential and would be a valuable addition to your portfolio. We would be grateful if you could take the time to review our business plan and provide us with your feedback. We would love for you to stop by our bakery and try some of our goods.

Please feel free to call me at 555-555-1212 if you have any questions. I look forward to hearing from you soon.

The Hudson Boutique Hotel

Dear Mr. James Peterson,

The Hudson offers an upscale experience in a smaller city setting with all of the comfort and amenities of home. We offer our guests free Wi-Fi access as well as complimentary breakfast and on-site parking. Our rooms are modern and elegant, and we provide luxury bedding that helps ensure a quality night’s sleep.

Our location at 412 National Street is just two blocks from downtown and within walking distance to several popular restaurants and shops. Please refer to the attached business plan for more information on location specifics. This document also outlines our company philosophy including management team profiles, financial projections, and more.

Thank you for your time and consideration. I am eager to discuss our plans to expand the boutique hotel further with you. Please do not hesitate to contact me at 555-555-1212 should you have any questions or would like to arrange a meeting.

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ABC Widgets Inc.

To Whom It May Concern,

ABC Widgets Inc. is a widget manufacturer that has been in business for over 10 years. We specialize in the production of high-quality widgets for both commercial and residential use. We have a strong reputation for providing an excellent customer experience and our widgets are backed by a 100% satisfaction guarantee.

We are excited to announce that we will be expanding our business and are in the process of constructing a new widget factory. This facility will allow us to increase our production capacity and meet the growing demand for our widgets.

Please find attached a copy of our business plan which provides more information on our company and product offerings. We would appreciate it if you could take the time to review our plan and provide us with your feedback. We would also love to schedule a meeting so that we can discuss our expansion plans in further detail.

Thank you for your time and consideration.

My name is John Doe and I am the owner of XYZ Tours, a travel agency based in New York City. We have been in business for over 30 years and specialize in group tours to European destinations.

I am writing to request your support for our organization as we continue to expand operations and reach out to customers nationwide. Our goal is to be the leading tour operator in the Northeast by 2025 and we can achieve this with your help.

With a location just steps from Columbus Circle, XYZ Tours has easy access from Midtown Manhattan making it an ideal destination for tourists from all over the country. As one of our valued partners, you will receive preferred pricing on all of our services including transportation, lodging, and entertainment options.

Thank you for your time and consideration. I would be happy to answer any questions you may have. Please do not hesitate to contact me at 555-555-1212.

Owner, XYZ Tours LLC.

The Smith Corporation

Dear Mr. Brown,

The Smith Corporation is a leading producer of high-quality office furniture. For the past 30 years, we have been committed to providing our customers with the best products and installation services in the industry.

We are pleased to announce that we will be expanding our operations and are in the process of constructing a new production facility. This facility will allow us to increase our production capacity and meet the growing demand for our furniture.

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How to Write a Business Plan Cover Letter That Wins Investors

Business Plan Cover Pages

Ayush Jalan

• December 12, 2023

Writing a business plan cover letter is an important part of presenting your business plan to potential lenders and investors when seeking investment. It’s the first thing an interested investor will read, and it’s your chance to make a good first impression.

In this article, we’ll see an overview of what a business plan cover letter is, why it’s important, and how to write it. We’ll also share a template, some examples, and useful tips you can use to write a formal cover letter for your own business plan and make it stand out.

What is a business plan cover letter?

A business plan cover letter is a formal document that accompanies your business plan and serves the purpose of introducing you and your business venture to potential investors or lenders. In other words, it’s a way for you to sell your business idea and show why you believe in it.

In the same way that a job seeker presents a cover letter alongside their resume to an employer in order to get hired, you need a cover letter to go alongside your business plan in order to secure funding or a business loan.

Why is a business plan cover letter important?

Through a cover letter, you show the investor why you are a good fit, what value your business can bring to them, and why they should invest in your company instead of your competitor.

To increase your chances of getting funding, it’s wise to tailor your cover letter based on the investor reading it. This means researching the companies the investor has previously invested in, their risk tolerance, and the values they look for in a business partner.

Although your business plans already details all crucial data, the cover letter should provide a glimpse into the current financial position of your company, including its profitability, debt, projections, and more.

The idea here is to let the investor know what they are getting into and reduce uncertainties. If they like your cover letter, they will be more interested to go through the whole business plan and ask questions before investing .

How to write a business plan cover letter?

Before you start writing a cover letter, make sure you’re done preparing a business plan and that there are no errors in it. A well-written cover letter isn’t going to get you very far if the business plan itself is not properly made.

Once your business plan is ready, follow these steps to write a cover letter:

Step 1. Create a header

The header of your business plan cover letter should include your name, the name of your business, your address, and your contact information. Next, write the date. And finally, write the name of the investor, the institution they are affiliated with, and their address.

If you’re sending the document via email, there’s no need to write a header, and you can jump to addressing the recipient with a formal greeting.

Step 2. Address the recipient

Unless you don’t know the name of the recipient, don’t make the mistake of addressing them as “Dear Investor” as that may give the impression that you haven’t researched the person you’re sending your business plan to.

Addressing the name of the recipient such as “Dear Mr. Green” or “Dear Ms. Jones” sets a good tone and is preferred over a generic greeting.

Step 3. Write a strong opening

The first paragraph of your letter should immediately grab the reader’s attention. This means stating the intent of the letter, the reason you want to work with this investor, and how you will use their money to scale the business.

Explain why you think your business is a good investment opportunity, and mention details such as the type of ownership, legal formation, the structure of the business , its history, and any notable achievements.

Step 4. Support your statements

Claims made without evidence don’t mean much, so you’re going to need to provide some form of data or facts to prove that you’re worth the risk.

This is admittedly hard to do if you’re a startup, since most startups fail. That’s why it’s a good idea to track these key startup metrics to assess your financial position and the overall viability of your business idea.

Step 5. Close with an acknowledgment

The last paragraph of a cover letter should emphasize three things: your interest in working with the investor, the value of this opportunity, and the timeline of how you’re expecting things to happen.

Once done, thank the reader for their time, express your eagerness to see their response, and request a meeting to discuss things further. End the letter with a formal sign-off.

Tips for writing a business plan cover letter

Here are some tips for writing a business plan cover letter:

• Keep the letter short and descriptive, no more than one or two pages.
• Use a formal, conversational tone, and avoid using slang, jargon, and contractions. The easier it is to read your letter, the better.
• Address the reader by name, and avoid using “To Whom It May Concern.”
• Mention your professional background, the competency of the management team, and how it all benefits the business.
• If you’ve acquired funding in the past, highlight the individuals, institutions, or banks that have invested in your company.

Business plan cover letter template

[Your Name] [Your Company’s Name] [Your Address] [Your Contact Information] [Date]

[Investor’s Name] [Investor’s Company Name] [Investor’s Address] Dear [Name of Investor],

I am writing to request your investment in [Your Business Name]. We are [ brief overview of your business ] and we believe that [Your Business Name] has great potential to be a valuable addition to your portfolio.

[Provide a brief description of your current financial situation and how the funds will be used]

[Mention your unique selling proposition]

Please find attached a copy of our business plan which provides more information on our company and product offerings. We would appreciate it if you could take the time to review our plan and offer your feedback. We look forward to working with you.

Thank you for your time and consideration.

Sincerely, [Your Name].

Business plan cover letter example

William Cutler Cutler and Colors Co. 132, My Street, Kingston New York 12401 [email protected] February 17, 2023

James F. Miller Miller Industries Pvt. Ltd. 1234 NW Bobcat Lane, St. Robert, Missouri Dear Mr. Miller,

Cutler and Colors is an emerging fashion retailer in New York City specializing in men’s garments, and we’re looking to expand to six more cities in the U.S. by the end of 2023. With your financial support, we project to double our production and strengthen our supply chain efficiency.

We believe Cutler and Colors will be a valuable addition to your portfolio. We currently have $220,000 of our own funds invested in the business and are looking to raise an additional $500,000. The money will be used to hire more staff, set up new stores, purchase new equipment, and advertise online.

By streamlining our supply chain, we intend to undercut our competitors and offer high-quality garments at an affordable price.

Please find attached a copy of our business plan which provides more information on our company and product offerings. We would appreciate it if you could take the time to review our plan and provide us with your feedback. We look forward to working with you.

Sincerely, William Cutler

Lure investors with a great first impression

Writing a good cover letter is key when presenting your business plan to potential lenders and investors. Your cover letter should be well-written, professional-looking, and tailored to the interests of the investor reading your business plan.

Be mindful of the length of your cover letter; it should be short enough to retain the reader’s interest and long enough to cover the subject. If you’re sending the cover letter over email, it’s a good idea to follow up after some time in case you don’t get a response.

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Frequently Asked Questions

How long should a business plan cover letter be.

Ideally, your cover letter should not exceed one page; if there’s more to add, a maximum of two pages is considered permissible. That said, it’s usually better to write a shorter cover letter than a longer one.

Can I include statistics in a business plan cover letter?

Yes, you can mention data in your cover letter to support your claims, but don’t overdo it since your business plan already highlights your financials and future projections in great detail.

Can I skip writing a business plan cover letter?

If you’re sending a physical copy of your business plan to an investor or lender, it’s absolutely crucial that you attach a cover letter with it. However, a cover letter is not that necessary if you’re sending it via email as you can simply write a note in the body of the email.

About the Author

Ayush is a writer with an academic background in business and marketing. Being a tech-enthusiast, he likes to keep a sharp eye on the latest tech gadgets and innovations. When he's not working, you can find him writing poetry, gaming, playing the ukulele, catching up with friends, and indulging in creative philosophies.

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Popular Templates

5 Steps to Writing a Business Plan Cover Letter [+ Templates!]

Every business plan needs a cover letter. Also known as an introduction, executive summary , or overview, your cover letter is your first impression.

It sets the stage for the rest of the document and tells the reader what to expect. Most importantly, it compels the reader to spend the time it will take to review the plan in full.

But how do you write a cover letter? What should it say?

There will be no guesswork here. We’re covering all of the essential deets to include. Plus, we’ve got templates to make your life easier.

What’s in this guide :

Why your business plan cover letter is important

What to include in your cover letter, how to write your business plan cover letter, 3 business plan cover letter templates.

Without a great cover letter, your business plan will lack context and urgency—making it less likely that your audience will read it.

A cover letter surfaces the most important details from the plan, allowing you to craft a cohesive story. For instance, you might focus your cover letter on your market research findings, your estimated profit margin, or how your company is preparing to achieve your business goal. Essentially, it allows you to direct readers’ attention where you want it to go .

A business plan can also motivate you . Entrepreneurs with completed business plans are 260% more likely to start their businesses. When you write a great cover letter, it can serve as a reminder of why you’re putting in the hard work and keep you on track.

What should you include? That depends on the type of business plan you’re writing. Is this a plan to launch a startup, release a new product, or improve an existing business?

Here are some essential pieces of information to include for different types of plans. (Remember that while the business plan will delve into all the details, the cover letter will summarize the most important information.)

New business plans :

Market research

Problem or opportunity statement

Outline of initial offerings (products or services)

Business and pricing models

Time to profitability

Business risks and mitigation plans

Competitive landscape

New product launches :

Product landed cost

Product price for each channel (wholesale, DTC, Amazon, etc.)

Projected profit margin for each channel

Product branding and marketing plan

Plan for product validation and prototyping

Business improvement projects :

Current state of the business

Opportunities for growth

Opportunities for expense cutting

Opportunities for process or productivity improvements

Prioritization of improvement projects

Project goals

Project timelines

Third-party service pitches :

Client goals and objectives

Service scope

Service deliverables

Project or implementation timelines

Expected outcomes

In most cases, the cover letter should fit within one page, but for very long business plans, you might need a page and a half or even two pages to fit the overarching story you want to convey.

You should address the cover letter to your intended reader. That might be a loan officer for a business loan, a potential investor, a business partner, or a client.

Business plan cover letter example

Cover letter examples can offer inspiration and provide a jumping point for your writing.

Here’s an example of a cover letter for a business consulting plan :

Notice how the example focuses heavily on the pain points of running a business: working hard, listening carefully, watching cash flow, etc. The cover letter makes the point that when you’re in the weeds of your business, it can be tough to envision the big picture and steer the ship.

Above all, a cover letter should be compelling. So make sure to include illustrative language, metaphors, clear pain points, and goals to bring the proposed plan to life.

Your cover letter is one of the most important sections of any business plan or business proposal . Follow these simple steps and writing tips to win over stakeholders.

Step 1. Write your business plan first

It’s nearly impossible to write a great cover letter without writing your business plan first. Why? Because your cover letter surfaces the key points from the plan so readers know why they should read the plan and what to focus on.

To write an excellent business plan, you must first begin with research. You might put together a small focus group, interview target customers over the phone, assess a handful of competitor products, and analyze influencers’ social media content within your industry.

Now that you’ve done your research, you can start writing your plan.

Make sure to include these sections:

Market problem

Your proposed solution

Your business model

Target customers

Marketing plan

Your competitive advantage

Financial projections

Required funding

Step 2. Write a strong introduction paragraph for your cover letter

Now it’s time to write the perfect cover letter.

While your cover letter will summarize a variety of points, the first paragraph should have a clear focus. It shouldn’t bounce all over the place, but should make a single compelling argument. You can start with the market opportunity, the unmet customer expectations, the prospective client’s key pain points, or the stellar profit margin your business plan is proposing.

And remember that a good hook makes the reader want to keep reading. So spend plenty of time coming up with a great first sentence that will creatively lead into your opening argument.

Step 3. Write your supporting paragraphs

The next step is to write the supporting paragraphs that drive home your key argument.

For example, if your opening paragraph states that your business plan will address a $1 billion dollar market opportunity, then the remaining paragraphs should clarify the market need (what do customers expect and why haven’t your business competitors risen to the challenge?), how you will address that need (what products or services will you offer?), and what you need from the reader (an investment, a loan, their experience as your co-founder, etc).

Consider using bullet points to quickly list out important details like market research findings, product launch plans, or business goals.

Step 4. Revise your cover letter

Don’t expect to knock it out of the park on the first try. Give yourself time to revise the cover letter over a couple of days. When you take a break before editing , you’re able to look at your writing more objectively—almost as if it was written by someone else. You also allow yourself the space to come up with creative, fresh ideas for hooks, key arguments, etc.

Step 5. Double check that the rest of the business plan follows suit

And lastly, you need to check that your cover letter matches your business plan (and that your business plan matches your cover letter) . This song-and-dance might take some time because whenever you add new info to your business plan, you need to consider if it’s important enough to be featured in the letter. And anything you add to your letter certainly needs to be covered in the plan.

Your reader is going to want to find more details within your business plan, so make sure you’re titling sections clearly. For instance, if you mention “market research” in your cover letter, then title the matching section the same way. Your cover letter serves as a reference point for what readers should hunt for in the plan, so keep that in mind when you’re formatting and adding the finishing touches.

A business plan is most commonly written when starting a new business. But documented plans are also useful when launching a new product, embarking on a big project, or pitching a service. These cover letter templates can be adapted for just about any use case.

1. Accounting plan cover letter template

If you’re sending your business plan to potential investors, lenders, or someone else you’re trying to convince, this template may be helpful. It’s short, to-the-point, and full of confidence.

2. Investing plan cover letter template

This cover letter template is perfect for new business plans in the investing, fintech, and financial services industries. It hones in on the core pain points of amateur investors in need of financial planning.

You can adapt the pain points shared into more of a summary of your market research and the target audience’s needs. Or, you can use this template to pitch financial services directly to potential clients, making sure to include the details of the services in the rest of the plan.

3. Business project cover letter template

This project proposal template can easily be adapted for any business plan, product launch, or operational improvement project. The cover letter is written with compelling language that clearly states the needs and challenges of the project, as well as how you will address them.

To make this template your own, start by summarizing the risks of the project, and then segway into how your business plan mitigates those—whether through hiring, training, project management, software implementation, or a combination of these and other strategies.

Send business plans and proposals that get accepted

Whether you’re sending documents to investors, partners, clients, coworkers, your boss, or other stakeholders, one thing is certain: you want your plan to be accepted.

By analyzing over a million business proposals and plans sent with our software, we found that documents are more likely to close when they include images, e-signatures, intake forms, and editable pricing tables. With Proposify , you get all of these features plus viewing analytics, so you can check when your emails and plans have been viewed. This will help you know who to follow up with to close the deal.

Send better pitches with Proposify. Learn more and start your free trial.

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September 30, 2022

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How to Write a Cover Letter for a Business Plan

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How to End a Company Letter

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A business plan is an important document for your business. The business plan should be created before you launch your new business venture, and you should review every few months to make sure you're implementing all your plans and don't need to make alterations. When you send your business plan to banks or other financial institutions in an attempt to receive a loan for your business, include a professional cover letter with the business plan.

Type your name, the name of your business and your contact information at the top of the cover letter so the bank can get back in touch with you easily. Include your business address, office number, cell number and the email address you check most frequently.

Type the recipient's name, title, bank name, location and address after your information. It's important to include the recipient's name. If you're not sure who will receive the cover letter and business plan, call the bank and ask.

Type the date you plan to send the business plan cover letter under the recipient's information.

Include a professional greeting addressed to the recipient, such as "Dear Ms. Smith."

Explain in the first paragraph that you're sending the banker your business plan and that you hope the bank will consider providing you with a loan. Tell her that the business plan is attached and that you'd appreciate her consideration.

In the next paragraph or two, describe reasons for opening your business. You should include details about your financial plan, such as how much money you already have to invest in your business and how much you plan to profit in the first year or two. Talking about your profits and careful financial planning shows the bank that your business is a worthwhile investment.

Thank the recipient for her time and consideration in the final paragraph. Let her know that you would appreciate it if she would review your business plan. Tell her you are available to come in and discuss your business plan further.

End the letter with a professional closing, such as "Sincerely," and type your name three or four lines after the closing. Sign your name in the space between the closing and your typed name after you print out the cover letter.

• MasterPlans: Business Plan Cover Letter

J. Johnson has been completing freelance writing work since September 2009. Her work includes writing website content and small client projects. Johnson holds a degree in English from North Carolina State University.

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Business Plan Cover Letter Sample: Free & Customizable

In this article, I will guide you through a step-by-step process to write an effective business plan cover letter, peppered with insights from my personal experience. Including a customizable template.

Key Takeaways: Understand Your Audience: Tailor your cover letter to the interests and needs of the reader. Be Clear and Concise: Keep your cover letter succinct, focusing on key points. Highlight Key Aspects: Emphasize the unique selling points of your business. Personalize Your Approach: Share a bit of your entrepreneurial journey to create a connection. Follow a Structured Format: Use a template to ensure all critical elements are covered. Proofread and Edit: Ensure your cover letter is free from errors and is polished.

Step-by-Step Guide to Writing a Business Plan Cover Letter

Step 1: understand your audience.

Before you begin writing, it’s crucial to understand who will be reading your cover letter. Tailoring your message to the interests and concerns of your audience can significantly increase your chances of making a positive impression.

Step 2: Start With a Strong Opening

Begin with a compelling introduction that grabs the reader’s attention. Mention your business’s core value proposition and how it addresses a specific need or opportunity in the market.

Step 3: Outline Your Business Plan

Briefly describe what the reader can expect to find in the business plan. Highlight key sections, such as the market analysis, financial projections, and strategic direction.

Step 4: Share Your Unique Story

Inject a personal touch by sharing a brief narrative of your entrepreneurial journey. This helps create a connection with the reader and adds a human element to your business proposal.

Step 5: Call to Action

Conclude with a clear call to action, inviting the reader to delve into your business plan for more detailed information.

Step 6: Close with a Professional Sign-off

End your cover letter with a professional closing statement and your signature.

Template for a Business Plan Cover Letter

[Your Name] [Your Position] [Your Contact Information] [Date]

[Recipient’s Name] [Recipient’s Position] [Company Name] [Company Address]

Dear [Recipient’s Name],

I am pleased to present you with the business plan for [Your Company’s Name], a venture poised to [briefly state your value proposition]. Our business addresses [specific need or opportunity] by [brief explanation of your solution].

Enclosed, you will find a comprehensive plan outlining our market analysis, product/service offerings, competitive landscape, and detailed financial projections. Our team is committed to [briefly mention your commitment or mission], and we are excited about the potential to [state the potential impact or success of your business].

My journey to this point has been [share a brief personal story or insight], and I am passionate about the opportunity we have to make a difference in [mention the industry or sector].

I invite you to review our business plan and welcome any questions or feedback you may have. I am keen to discuss how we can collaborate to turn this vision into reality.

Thank you for considering [Your Company’s Name]. I look forward to the possibility of working together.

[Your Name] [Your Position]

Personal Tips from Experience

• Be Authentic: Authenticity resonates. Share genuine insights or stories about your journey to establish trust and connection.
• Keep It Relevant: Focus on information that directly supports your business’s value proposition and goals.
• Follow Up: Don’t hesitate to follow up after sending your business plan and cover letter. It shows initiative and interest.

I hope these insights and steps help you craft a compelling business plan cover letter that resonates with your audience. I’d love to hear about your experiences and tips as well. Feel free to share your thoughts and questions in the comments below.

Frequently Asked Questions (FAQs)

Q: what is the purpose of a business plan cover letter.

Answer: The business plan cover letter serves as a formal introduction to your business proposal. It provides a brief overview of what the reader can expect inside the business plan, sets the tone for your presentation, and aims to persuade the reader to delve deeper into the document. 

Essentially, the business plan cover letter is your first opportunity to make a strong impression.

Q: How is a business plan cover letter different from a business plan executive summary?

Answer: While both the business plan cover letter and executive summary provide introductory information, they serve different purposes. The business plan cover letter is a brief letter addressed to a specific individual, introducing your business proposal and highlighting its significance. 

On the other hand, the executive summary is a section within the business plan that provides a concise overview of the entire plan, touching on key aspects like the business model, market analysis, financial projections, and strategies. 

Think of the business plan cover letter as an invitation to read the plan, while the executive summary offers a snapshot of its content.

Q: Should the business plan cover letter be attached to the business plan or sent separately?

Answer: Ideally, the business plan cover letter should be attached to the front of the business plan, especially if you’re submitting a physical copy. 

If you’re sending your business plan via email, the business plan cover letter can be written directly in the body of the email, with the business plan attached as a separate document. 

Either way, the business plan cover letter is meant to be the first thing the recipient sees, setting the stage for the detailed plan that follows.

Q: How long should a business plan cover letter be?

Answer: A business plan cover letter should be concise and to the point, typically not exceeding one page. Its primary goal is to captivate the reader’s attention and motivate them to review the entire business plan. 

It’s essential to maintain brevity while ensuring that the main points—like the purpose of the business, its potential, and the reason for reaching out—are effectively communicated.

Q: Can I use the same business plan cover letter for multiple recipients?

Answer: While the core content of your business plan cover letter might remain consistent, it’s crucial to personalize each letter for its specific recipient. 

Addressing the recipient by name, referencing their company, and mentioning any shared connections or mutual interests can make your letter stand out. A tailored approach shows that you’ve done your research and genuinely value the potential relationship, rather than sending out generic, mass-produced letters.

Q: Are there professionals who can help write a business plan cover letter?

Answer: Yes, there are many professional services and consultants who specialize in business planning and proposal writing. These experts can craft a compelling business plan cover letter tailored to your business and target audience. 

It’s worth considering their expertise, especially if you’re unfamiliar with creating such documents or want to ensure the best possible first impression.

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Step-by-Step Guide to Writing a Simple Business Plan

By Joe Weller | October 11, 2021

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A business plan is the cornerstone of any successful company, regardless of size or industry. This step-by-step guide provides information on writing a business plan for organizations at any stage, complete with free templates and expert advice. 

Included on this page, you’ll find a step-by-step guide to writing a business plan and a chart to identify which type of business plan you should write . Plus, find information on how a business plan can help grow a business and expert tips on writing one .

What Is a Business Plan?

A business plan is a document that communicates a company’s goals and ambitions, along with the timeline, finances, and methods needed to achieve them. Additionally, it may include a mission statement and details about the specific products or services offered.

A business plan can highlight varying time periods, depending on the stage of your company and its goals. That said, a typical business plan will include the following benchmarks:

• Product goals and deadlines for each month
• Monthly financials for the first two years
• Profit and loss statements for the first three to five years
• Balance sheet projections for the first three to five years

Startups, entrepreneurs, and small businesses all create business plans to use as a guide as their new company progresses. Larger organizations may also create (and update) a business plan to keep high-level goals, financials, and timelines in check.

While you certainly need to have a formalized outline of your business’s goals and finances, creating a business plan can also help you determine a company’s viability, its profitability (including when it will first turn a profit), and how much money you will need from investors. In turn, a business plan has functional value as well: Not only does outlining goals help keep you accountable on a timeline, it can also attract investors in and of itself and, therefore, act as an effective strategy for growth.

For more information, visit our comprehensive guide to writing a strategic plan or download free strategic plan templates . This page focuses on for-profit business plans, but you can read our article with nonprofit business plan templates .

Business Plan Steps

The specific information in your business plan will vary, depending on the needs and goals of your venture, but a typical plan includes the following ordered elements:

• Executive summary
• Description of business
• Market analysis
• Competitive analysis
• Description of organizational management
• Description of product or services
• Marketing plan
• Sales strategy
• Funding details (or request for funding)
• Financial projections

If your plan is particularly long or complicated, consider adding a table of contents or an appendix for reference. For an in-depth description of each step listed above, read “ How to Write a Business Plan Step by Step ” below.

Broadly speaking, your audience includes anyone with a vested interest in your organization. They can include potential and existing investors, as well as customers, internal team members, suppliers, and vendors.

Do I Need a Simple or Detailed Plan?

Your business’s stage and intended audience dictates the level of detail your plan needs. Corporations require a thorough business plan — up to 100 pages. Small businesses or startups should have a concise plan focusing on financials and strategy.

How to Choose the Right Plan for Your Business

In order to identify which type of business plan you need to create, ask: “What do we want the plan to do?” Identify function first, and form will follow.

Use the chart below as a guide for what type of business plan to create:

Is the Order of Your Business Plan Important?

There is no set order for a business plan, with the exception of the executive summary, which should always come first. Beyond that, simply ensure that you organize the plan in a way that makes sense and flows naturally.

The Difference Between Traditional and Lean Business Plans

A traditional business plan follows the standard structure — because these plans encourage detail, they tend to require more work upfront and can run dozens of pages. A Lean business plan is less common and focuses on summarizing critical points for each section. These plans take much less work and typically run one page in length.

In general, you should use a traditional model for a legacy company, a large company, or any business that does not adhere to Lean (or another Agile method ). Use Lean if you expect the company to pivot quickly or if you already employ a Lean strategy with other business operations. Additionally, a Lean business plan can suffice if the document is for internal use only. Stick to a traditional version for investors, as they may be more sensitive to sudden changes or a high degree of built-in flexibility in the plan.

How to Write a Business Plan Step by Step

Writing a strong business plan requires research and attention to detail for each section. Below, you’ll find a 10-step guide to researching and defining each element in the plan.

Step 1: Executive Summary

The executive summary will always be the first section of your business plan. The goal is to answer the following questions:

• What is the vision and mission of the company?
• What are the company’s short- and long-term goals?

See our  roundup of executive summary examples and templates for samples. Read our executive summary guide to learn more about writing one.

Step 2: Description of Business

The goal of this section is to define the realm, scope, and intent of your venture. To do so, answer the following questions as clearly and concisely as possible:

• What business are we in?
• What does our business do?

Step 3: Market Analysis

In this section, provide evidence that you have surveyed and understand the current marketplace, and that your product or service satisfies a niche in the market. To do so, answer these questions:

• Who is our customer? 
• What does that customer value?

Step 4: Competitive Analysis

In many cases, a business plan proposes not a brand-new (or even market-disrupting) venture, but a more competitive version — whether via features, pricing, integrations, etc. — than what is currently available. In this section, answer the following questions to show that your product or service stands to outpace competitors:

• Who is the competition? 
• What do they do best? 
• What is our unique value proposition?

Step 5: Description of Organizational Management

In this section, write an overview of the team members and other key personnel who are integral to success. List roles and responsibilities, and if possible, note the hierarchy or team structure.

Step 6: Description of Products or Services

In this section, clearly define your product or service, as well as all the effort and resources that go into producing it. The strength of your product largely defines the success of your business, so it’s imperative that you take time to test and refine the product before launching into marketing, sales, or funding details.

Questions to answer in this section are as follows:

• What is the product or service?
• How do we produce it, and what resources are necessary for production?

Step 7: Marketing Plan

In this section, define the marketing strategy for your product or service. This doesn’t need to be as fleshed out as a full marketing plan , but it should answer basic questions, such as the following:

• Who is the target market (if different from existing customer base)?
• What channels will you use to reach your target market?
• What resources does your marketing strategy require, and do you have access to them?
• If possible, do you have a rough estimate of timeline and budget?
• How will you measure success?

Step 8: Sales Plan

Write an overview of the sales strategy, including the priorities of each cycle, steps to achieve these goals, and metrics for success. For the purposes of a business plan, this section does not need to be a comprehensive, in-depth sales plan , but can simply outline the high-level objectives and strategies of your sales efforts. 

Start by answering the following questions:

• What is the sales strategy?
• What are the tools and tactics you will use to achieve your goals?
• What are the potential obstacles, and how will you overcome them?
• What is the timeline for sales and turning a profit?
• What are the metrics of success?

Step 9: Funding Details (or Request for Funding)

This section is one of the most critical parts of your business plan, particularly if you are sharing it with investors. You do not need to provide a full financial plan, but you should be able to answer the following questions:

• How much capital do you currently have? How much capital do you need?
• How will you grow the team (onboarding, team structure, training and development)?
• What are your physical needs and constraints (space, equipment, etc.)?

Step 10: Financial Projections

Apart from the fundraising analysis, investors like to see thought-out financial projections for the future. As discussed earlier, depending on the scope and stage of your business, this could be anywhere from one to five years. 

While these projections won’t be exact — and will need to be somewhat flexible — you should be able to gauge the following:

• How and when will the company first generate a profit?
• How will the company maintain profit thereafter?

Business Plan Template

Download Business Plan Template

Microsoft Excel | Smartsheet

This basic business plan template has space for all the traditional elements: an executive summary, product or service details, target audience, marketing and sales strategies, etc. In the finances sections, input your baseline numbers, and the template will automatically calculate projections for sales forecasting, financial statements, and more.

For templates tailored to more specific needs, visit this business plan template roundup or download a fill-in-the-blank business plan template to make things easy. 

If you are looking for a particular template by file type, visit our pages dedicated exclusively to Microsoft Excel , Microsoft Word , and Adobe PDF business plan templates.

How to Write a Simple Business Plan

A simple business plan is a streamlined, lightweight version of the large, traditional model. As opposed to a one-page business plan , which communicates high-level information for quick overviews (such as a stakeholder presentation), a simple business plan can exceed one page.

Below are the steps for creating a generic simple business plan, which are reflected in the template below .

• Write the Executive Summary This section is the same as in the traditional business plan — simply offer an overview of what’s in the business plan, the prospect or core offering, and the short- and long-term goals of the company. 
• Add a Company Overview Document the larger company mission and vision. 
• Provide the Problem and Solution In straightforward terms, define the problem you are attempting to solve with your product or service and how your company will attempt to do it. Think of this section as the gap in the market you are attempting to close.
• Identify the Target Market Who is your company (and its products or services) attempting to reach? If possible, briefly define your buyer personas .
• Write About the Competition In this section, demonstrate your knowledge of the market by listing the current competitors and outlining your competitive advantage.
• Describe Your Product or Service Offerings Get down to brass tacks and define your product or service. What exactly are you selling?
• Outline Your Marketing Tactics Without getting into too much detail, describe your planned marketing initiatives.
• Add a Timeline and the Metrics You Will Use to Measure Success Offer a rough timeline, including milestones and key performance indicators (KPIs) that you will use to measure your progress.
• Include Your Financial Forecasts Write an overview of your financial plan that demonstrates you have done your research and adequate modeling. You can also list key assumptions that go into this forecasting. 
• Identify Your Financing Needs This section is where you will make your funding request. Based on everything in the business plan, list your proposed sources of funding, as well as how you will use it.

Simple Business Plan Template

Download Simple Business Plan Template

Microsoft Excel |  Microsoft Word | Adobe PDF  | Smartsheet

Use this simple business plan template to outline each aspect of your organization, including information about financing and opportunities to seek out further funding. This template is completely customizable to fit the needs of any business, whether it’s a startup or large company.

Read our article offering free simple business plan templates or free 30-60-90-day business plan templates to find more tailored options. You can also explore our collection of one page business templates . 

How to Write a Business Plan for a Lean Startup

A Lean startup business plan is a more Agile approach to a traditional version. The plan focuses more on activities, processes, and relationships (and maintains flexibility in all aspects), rather than on concrete deliverables and timelines.

While there is some overlap between a traditional and a Lean business plan, you can write a Lean plan by following the steps below:

• Add Your Value Proposition Take a streamlined approach to describing your product or service. What is the unique value your startup aims to deliver to customers? Make sure the team is aligned on the core offering and that you can state it in clear, simple language.
• List Your Key Partners List any other businesses you will work with to realize your vision, including external vendors, suppliers, and partners. This section demonstrates that you have thoughtfully considered the resources you can provide internally, identified areas for external assistance, and conducted research to find alternatives.
• Note the Key Activities Describe the key activities of your business, including sourcing, production, marketing, distribution channels, and customer relationships.
• Include Your Key Resources List the critical resources — including personnel, equipment, space, and intellectual property — that will enable you to deliver your unique value.
• Identify Your Customer Relationships and Channels In this section, document how you will reach and build relationships with customers. Provide a high-level map of the customer experience from start to finish, including the spaces in which you will interact with the customer (online, retail, etc.). 
• Detail Your Marketing Channels Describe the marketing methods and communication platforms you will use to identify and nurture your relationships with customers. These could be email, advertising, social media, etc.
• Explain the Cost Structure This section is especially necessary in the early stages of a business. Will you prioritize maximizing value or keeping costs low? List the foundational startup costs and how you will move toward profit over time.
• Share Your Revenue Streams Over time, how will the company make money? Include both the direct product or service purchase, as well as secondary sources of revenue, such as subscriptions, selling advertising space, fundraising, etc.

Lean Business Plan Template for Startups

Download Lean Business Plan Template for Startups

Microsoft Word | Adobe PDF

Startup leaders can use this Lean business plan template to relay the most critical information from a traditional plan. You’ll find all the sections listed above, including spaces for industry and product overviews, cost structure and sources of revenue, and key metrics, and a timeline. The template is completely customizable, so you can edit it to suit the objectives of your Lean startups.

See our wide variety of  startup business plan templates for more options.

How to Write a Business Plan for a Loan

A business plan for a loan, often called a loan proposal , includes many of the same aspects of a traditional business plan, as well as additional financial documents, such as a credit history, a loan request, and a loan repayment plan.

In addition, you may be asked to include personal and business financial statements, a form of collateral, and equity investment information.

Download free financial templates to support your business plan.

Tips for Writing a Business Plan

Outside of including all the key details in your business plan, you have several options to elevate the document for the highest chance of winning funding and other resources. Follow these tips from experts:.

• Keep It Simple: Avner Brodsky , the Co-Founder and CEO of Lezgo Limited, an online marketing company, uses the acronym KISS (keep it short and simple) as a variation on this idea. “The business plan is not a college thesis,” he says. “Just focus on providing the essential information.”
• Do Adequate Research: Michael Dean, the Co-Founder of Pool Research , encourages business leaders to “invest time in research, both internal and external (market, finance, legal etc.). Avoid being overly ambitious or presumptive. Instead, keep everything objective, balanced, and accurate.” Your plan needs to stand on its own, and you must have the data to back up any claims or forecasting you make. As Brodsky explains, “Your business needs to be grounded on the realities of the market in your chosen location. Get the most recent data from authoritative sources so that the figures are vetted by experts and are reliable.”
• Set Clear Goals: Make sure your plan includes clear, time-based goals. “Short-term goals are key to momentum growth and are especially important to identify for new businesses,” advises Dean.
• Know (and Address) Your Weaknesses: “This awareness sets you up to overcome your weak points much quicker than waiting for them to arise,” shares Dean. Brodsky recommends performing a full SWOT analysis to identify your weaknesses, too. “Your business will fare better with self-knowledge, which will help you better define the mission of your business, as well as the strategies you will choose to achieve your objectives,” he adds.
• Seek Peer or Mentor Review: “Ask for feedback on your drafts and for areas to improve,” advises Brodsky. “When your mind is filled with dreams for your business, sometimes it is an outsider who can tell you what you’re missing and will save your business from being a product of whimsy.”

Outside of these more practical tips, the language you use is also important and may make or break your business plan.

Shaun Heng, VP of Operations at Coin Market Cap , gives the following advice on the writing, “Your business plan is your sales pitch to an investor. And as with any sales pitch, you need to strike the right tone and hit a few emotional chords. This is a little tricky in a business plan, because you also need to be formal and matter-of-fact. But you can still impress by weaving in descriptive language and saying things in a more elegant way.

“A great way to do this is by expanding your vocabulary, avoiding word repetition, and using business language. Instead of saying that something ‘will bring in as many customers as possible,’ try saying ‘will garner the largest possible market segment.’ Elevate your writing with precise descriptive words and you'll impress even the busiest investor.”

Additionally, Dean recommends that you “stay consistent and concise by keeping your tone and style steady throughout, and your language clear and precise. Include only what is 100 percent necessary.”

Resources for Writing a Business Plan

While a template provides a great outline of what to include in a business plan, a live document or more robust program can provide additional functionality, visibility, and real-time updates. The U.S. Small Business Association also curates resources for writing a business plan.

Additionally, you can use business plan software to house data, attach documentation, and share information with stakeholders. Popular options include LivePlan, Enloop, BizPlanner, PlanGuru, and iPlanner.

How a Business Plan Helps to Grow Your Business

A business plan — both the exercise of creating one and the document — can grow your business by helping you to refine your product, target audience, sales plan, identify opportunities, secure funding, and build new partnerships. 

Outside of these immediate returns, writing a business plan is a useful exercise in that it forces you to research the market, which prompts you to forge your unique value proposition and identify ways to beat the competition. Doing so will also help you build (and keep you accountable to) attainable financial and product milestones. And down the line, it will serve as a welcome guide as hurdles inevitably arise.

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When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

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Free Cover Letter Sample for Business Plan 

Table of Contents

If your business plan cover letter is good enough, an investor may express interest in funding your business. Writing a cover letter yourself is beneficial because you can use your ideas to flesh it out.

You can use the  cover letter for business plan sample  in this guide as a template to write a winning cover letter. 

Great cover letters are vital in attracting investors to fund your business. To make a good impression on potential investors, you must write a compelling cover letter. Your cover letter should reflect your idea and the value you can bring to the investor.

You don’t have to be a writer to craft a captivating cover letter. Only edit the templates in this article to suit your needs and match your business details!

What Is A Business Plan Cover Letter?

A cover letter for business plan is a professional write-up that contains details of yourself and the business you plan on venturing into. It is a brief introduction that outlines your plans or goals . Your cover letter should intrigue an investor since that is their first read.

A professional cover letter will feature a professional tone, relevant but concise information, and an appropriate ending.

Importance of A Business Plan Cover Letter 

A business cover letter allows you to impress the Investor and display your ability to execute your plan . It gives an understanding to the Investor about what you want to do. And how you plan to implement it in the best way possible. 

You intend to sell out an idea; use the cover letter to make them see why they should invest in your plan. 

Cover Letter for Business Plan Sample 

When writing a cover letter for a business plan, keep it short. Whoever you intend to send it to; will have other things going on around them. This means they may not have the time to read a lengthy cover letter. Your goal should be to build their interest. To achieve that, you have to write professionally. 

The following are some cover letters for a business plan to guide you.

The format.

[Your name]

[Your street address], [Your city], [Your state] [Your zip code]

[Your website URL] – [Your email address]

[Investor’s title]

[Investor’s company name]

[Investor’s city], [Investor’s state], [Investor’s zip code]

Dear [Name of Investor]:

[Introduce yourself and your business].

I have attached the business plan for [business name] to this mail.

You will be intrigued by it and may consider it a fit for your investment.

If you want us to talk about it, we can schedule a meeting one of these days.

Please, you can send me an email via [your email address] or give me a call at [your phone number]

[Your signature]

[Your title]

Example 1 [Jay’s cakes]

Dear Investor,

Jay’s Cake is a business that has existed for three years. We are a baker group making all kinds of cakes for birthdays, weddings, anniversaries, and households. Our cake bakery has grown over the years, and we have a large number of following by customers who enjoy our cakes. We want to expand our business by making more cakes to reach other communities.

Our cake bakery will be an excellent addition to your portfolio. We will be glad if you can go through our business plan. You can visit our cake bakery to try out some of our customers’ favorites.

Please you can call us anytime at 432-331-5321 for further details. I await your feedback.

Jay’s cakes

Example 2: Blue Estate.

Dear Mr. Peter,

The blue estate is a modern city of well-built houses with the comfort of home. Most of our houses are taken because people love their structures and designs. We are located at 321 Blue Street in town, close to the popular marvel suites. 

Please, see the attached business plan for more details on the location. The document also has our financial projections and team profile.

Thank you for your attention. I can’t wait to further discuss my plans with you. Please, contact me at 532-123- 2214.

Blue Estate.

Example 3: The Jordan’s corporation.

Dear Mr. White,

The Jordan Corporation is a producer of quality office furniture. For the past 15 years, we have provided customers with top-notch products and installation services in the industry.

We are glad to announce that we want to expand our operations and set up a new production corporation. This will enable us to meet the high demand for our quality furniture.

Attached is a copy of our business plan for your perusal. We would appreciate it if you could take the time to review our plan. Your feedback is important to us. And if you would like a physical meeting, do let us know, so we can schedule to discuss the project.

Thank you for your time and consideration.

The Jordan Corporation.

When writing a business plan cover letter , make it short. Your cover letter should be at most two pages, but it can be less. 

From the beginning of your cover letter, you should mention your business plan and that you have attached it. State how an investor will benefit from your business if they invest. Use a conversational tone for your cover letter. Avoid the use of slang but make the introduction of your business plan interesting.

You can use the  cover letter for business plan sample  above or adjust it to fit your plans perfectly. 

Abir Ghenaiet

Abir is a data analyst and researcher. Among her interests are artificial intelligence, machine learning, and natural language processing. As a humanitarian and educator, she actively supports women in tech and promotes diversity.

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Home » Job Tips » Career Advice » Business Proposal Letter with Sample & Template Guide

Business Proposal Letter with Sample & Template Guide

A business proposal letter is significantly important in the corporate world today. A substantial 70% of 3,640 venture capitalists consider a written business plan as an essential tool between organizations. Also, findings from a study conducted in Australia indicate a notable correlation between the possession of a formal business plan and elevated gross revenues.

Thus, the importance of a business plan can not be over-emphasized. This is why we have made a comprehensive guide on how to write a professional business plan to drive conversion.

Table of Contents

What is a Business Proposal Letter?

A business proposal is a letter that invites or suggests that two entities work together. It is a business letter with a convincing summary or cover letter for a business plan. Its objective is to quickly summarize the key points of your complete proposal. You can send a proposal letter to potential partners to present your firm’s offerings or as part of your answer to a client’s request for information about your business.

Types of Business Proposal Letter

There are 2 major types of business proposal:

• Solicited Proposals: Solicited proposals are made only when an organization requests one. When an organization needs a particular service, it requests proposals from various entities that can render the desired service.
• Unsolicited Business Proposals: An unsolicited business proposal permits individuals to send out proposals to potential customers and businesses without a demand or request for a proposal.

How to Write‌ a Business Proposal Letter?

The type of proposal you are drafting determines the structure of your letter. For instance, if it is a solicited proposal, it is important to understand the demand of the organization, do proper research, and, if possible, make inquiries from the organization so as to draft a proposal in line with the company’s objectives. 

If it is an unsolicited proposal, endeavor to write in accordance with the organization’s values in a clear and concise manner, letting them fully understand what you have to offer. Learn business analytics to advance your business’ potential. Below are practical steps to draft a business proposal letter:

1. Create a Heading

The first step to creating a proposal is drafting a heading, which should be on the top left side of your letter. A heading should have basic contact information, such as the name of the company, date, recipient name, and address. 

2. Write a Captivating Introduction

Your introduction should start with a formal greeting and an introduction based on the purpose of the proposal. An introduction should be tailored to the problem and the goal about to be achieved by starting with background information obtained from the client. This will make the client feel understood.

3. State the Reason for the Letter

This section should focus on the goals and relevancy of the proposal. Highlight reasons why they should work with you and mention your unique selling point.

4. Include CTAs (Calls to Action)

After stating your goals and how you tend to achieve them, you should specify what you want the receiver of the letter to do next. You may ask them to schedule a meeting, phone, or email you after they are done reading the letter. If they have no objections, it may be appropriate to add a contract and request their signature. Here is an example of a CTA:

Kindly read the letter closely and in case of any questions or requests to discuss the business plan in more depth, feel free to schedule a meeting via my email.

5. Conclude the Letter

End your conclusion with a friendly note. It should consist of a two to three-sentence paragraph highlighting your gratitude and desire to work with the prospective clients. This paragraph should be signed off with a name, an email, and a regard, as shown below:

Harry Styles.

Business Proposal Sample Letter

You can learn the method of crafting a professional proposal letter from the samples below:

Example 1: Business Proposal Sample for PR Solutions

Here is a sample that proposes collaboration with a public relations company.

Example 2: Business Proposal Sample for Sponsorship Proposal

Here is a sample proposal for requesting sponsorship for an annual community empowerment event.

Example 3: Business Proposal Sample Invitation 

Here is a sample proposal invitation to join a community workshop on sustainable living.

Example 4: Business Proposal Sample for Partnership 

Here is a business proposal sample requesting a partnership: 

 Tips for Writing an Effective Business Proposal Letter

Here are effective tips for writing a business proposal letter:

• Make an Outline: Crafting an outline enables you to have a clearer picture of your goal. You need to have some understanding of your goals in order to draft a meaningful, successful business proposal. To write an effective business proposal, start by creating an overview of the main sections of your business proposal as well as the relevant information you want to include before you start writing. You’ll be able to write more clearly and stay focused if you do this.
• Simplicity: The ideal length for a business proposal is not defined. Yours should be as long as necessary to cover the purpose you wish to cover. However, it is important to prioritize quality over quantity. Avoid using too much business jargon and keep your words short and straightforward. You want whoever reads your proposal to understand it. Be clear and avoid being overly creative.
• Proofread and Cross-check: After drafting your proposal, proofread it and check for grammatical errors. A professional proposal should be accurate and concise, making sure it is as professional as possible while meeting the requirements and needs of prospective clients.
• Add Quantitative and Qualitative Data: With your company proposal letter, your aim should be to stand out from the crowd by evoking the prospect’s curiosity. One of the best ways to achieve this is to include real, quantifiable data that helps stress the value of your company . To highlight your advantages, think about using interesting, relevant facts. This might lend confidence to your argument and show your credibility. It also helps to use visuals like charts and graphs to support your argument.
• Add Credibility: Adding proof, such as previous jobs, references, and media handles to showcase your job will enhance your credibility in the sight of your clients. This proof and data will propel them to want to reach out to you.
• Go Above Expectations: When crafting a proposal, consider using document file formats such as PDF and also incorporating multimedia components. This practice not only elevates the proposal’s overall experience but also lends a sense of richness to the document, effectively capturing and retaining the reader’s attention.
• Be Clear on the Terms and Conditions: A professional business proposal possesses full details on how long a project will take and the accepted medium and timeframe of payment. However, this is only valid when a client has accepted a proposal.
• Add a prompt and a Space for Signing: At the end of a proposal, there should be a prompt urging the clients to take desired actions and space for signing if the prospective client has agreed to your terms and conditions.

Business proposal letters are what make it possible for corporate organizations to collaborate on a project with precise objectives and a set timeframe. Proposals serve as a means of communication between businesses and potential customers. Therefore, understanding how to create a proposal is crucial to getting contracts and convincing potential clients to work with you.

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Shailja Kaushik has been an Editor with Internshala since March 2023. She loves creative writing and experimenting with different forms of writing. She has explored different genres by working with journals and radio stations. She has also published her poems and nano tales in various anthologies. She graduated at the top of her class with Bachelor's in English and recently completed her Master's in English from the University of Delhi. Her experiments with writing continue on her literary blog.

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24 of My Favorite Sample Business Plans & Examples For Your Inspiration

Published: February 06, 2024

I believe that reading sample business plans is essential when writing your own.

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As you explore business plan examples from real companies and brands, it’s easier for you to learn how to write a good one.

But what does a good business plan look like? And how do you write one that’s both viable and convincing. I’ll walk you through the ideal business plan format along with some examples to help you get started.

Table of Contents

Business Plan Format

Business plan types, sample business plan templates, top business plan examples.

Ask any successful sports coach how they win so many games, and they’ll tell you they have a unique plan for every single game. To me, the same logic applies to business.

If you want to build a thriving company that can pull ahead of the competition, you need to prepare for battle before breaking into a market.

Business plans guide you along the rocky journey of growing a company. And if your business plan is compelling enough, it can also convince investors to give you funding.

With so much at stake, I’m sure you’re wondering where to begin.

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Fill out the form to get your free template.

First, you’ll want to nail down your formatting. Most business plans include the following sections.

1. Executive Summary

I’d say the executive summary is the most important section of the entire business plan. 

Why? Essentially, it's the overview or introduction, written in a way to grab readers' attention and guide them through the rest of the business plan. This is important, because a business plan can be dozens or hundreds of pages long.

There are two main elements I’d recommend including in your executive summary:

Company Description

This is the perfect space to highlight your company’s mission statement and goals, a brief overview of your history and leadership, and your top accomplishments as a business.

Tell potential investors who you are and why what you do matters. Naturally, they’re going to want to know who they’re getting into business with up front, and this is a great opportunity to showcase your impact.

Need some extra help firming up those business goals? Check out HubSpot Academy’s free course to help you set goals that matter — I’d highly recommend it

Products and Services

To piggyback off of the company description, be sure to incorporate an overview of your offerings. This doesn’t have to be extensive — just another chance to introduce your industry and overall purpose as a business.

In addition to the items above, I recommend including some information about your financial projections and competitive advantage here too.:

Keep in mind you'll cover many of these topics in more detail later on in the business plan. So, keep the executive summary clear and brief, and only include the most important takeaways.

Executive Summary Business Plan Examples

This example was created with HubSpot’s business plan template:

This executive summary is so good to me because it tells potential investors a short story while still covering all of the most important details.

Image Source

Tips for Writing Your Executive Summary

• Start with a strong introduction of your company, showcase your mission and impact, and outline the products and services you provide.
• Clearly define a problem, and explain how your product solves that problem, and show why the market needs your business.
• Be sure to highlight your value proposition, market opportunity, and growth potential.
• Keep it concise and support ideas with data.
• Customize your summary to your audience. For example, emphasize finances and return on investment for venture capitalists.

Check out our tips for writing an effective executive summary for more guidance.

2. Market Opportunity

This is where you'll detail the opportunity in the market.

The main question I’d ask myself here is this: Where is the gap in the current industry, and how will my product fill that gap?

More specifically, here’s what I’d include in this section:

• The size of the market
• Current or potential market share
• Trends in the industry and consumer behavior
• Where the gap is
• What caused the gap
• How you intend to fill it

To get a thorough understanding of the market opportunity, you'll want to conduct a TAM, SAM, and SOM analysis and perform market research on your industry.

You may also benefit from creating a SWOT analysis to get some of the insights for this section.

Market Opportunity Business Plan Example

I like this example because it uses critical data to underline the size of the potential market and what part of that market this service hopes to capture.

Tips for Writing Your Market Opportunity Section

• Focus on demand and potential for growth.
• Use market research, surveys, and industry trend data to support your market forecast and projections.
• Add a review of regulation shifts, tech advances, and consumer behavior changes.
• Refer to reliable sources.
• Showcase how your business can make the most of this opportunity.

3. Competitive Landscape

Since we’re already speaking of market share, you'll also need to create a section that shares details on who the top competitors are.

After all, your customers likely have more than one brand to choose from, and you'll want to understand exactly why they might choose one over another.

My favorite part of performing a competitive analysis is that it can help you uncover:

• Industry trends that other brands may not be utilizing
• Strengths in your competition that may be obstacles to handle
• Weaknesses in your competition that may help you develop selling points
• The unique proposition you bring to the market that may resonate with customers

Competitive Landscape Business Plan Example

I like how the competitive landscape section of this business plan below shows a clear outline of who the top competitors are.

It also highlights specific industry knowledge and the importance of location, which shows useful experience in this specific industry. 

This can help build trust in your ability to execute your business plan.

Tips for Writing Your Competitive Landscape

• Complete in-depth research, then emphasize your most important findings.
• Compare your unique selling proposition (USP) to your direct and indirect competitors.
• Show a clear and realistic plan for product and brand differentiation.
• Look for specific advantages and barriers in the competitive landscape. Then, highlight how that information could impact your business.
• Outline growth opportunities from a competitive perspective.
• Add customer feedback and insights to support your competitive analysis.

4. Target Audience

Use this section to describe who your customer segments are in detail. What is the demographic and psychographic information of your audience?

If your immediate answer is "everyone," you'll need to dig deeper. Here are some questions I’d ask myself here:

• What demographics will most likely need/buy your product or service?
• What are the psychographics of this audience? (Desires, triggering events, etc.)
• Why are your offerings valuable to them?

I’d also recommend building a buyer persona to get in the mindset of your ideal customers and be clear on why you're targeting them.

Target Audience Business Plan Example

I like the example below because it uses in-depth research to draw conclusions about audience priorities. It also analyzes how to create the right content for this audience.

Tips for Writing Your Target Audience Section

• Include details on the size and growth potential of your target audience.
• Figure out and refine the pain points for your target audience , then show why your product is a useful solution.
• Describe your targeted customer acquisition strategy in detail.
• Share anticipated challenges your business may face in acquiring customers and how you plan to address them.
• Add case studies, testimonials, and other data to support your target audience ideas.
• Remember to consider niche audiences and segments of your target audience in your business plan.

5. Marketing Strategy

Here, you'll discuss how you'll acquire new customers with your marketing strategy. I’d suggest including information:

• Your brand positioning vision and how you'll cultivate it
• The goal targets you aim to achieve
• The metrics you'll use to measure success
• The channels and distribution tactics you'll use

I think it’s helpful to have a marketing plan built out in advance to make this part of your business plan easier.

Marketing Strategy Business Plan Example

This business plan example includes the marketing strategy for the town of Gawler.

In my opinion, it really works because it offers a comprehensive picture of how they plan to use digital marketing to promote the community.

Tips for Writing Your Marketing Strategy

• Include a section about how you believe your brand vision will appeal to customers.
• Add the budget and resources you'll need to put your plan in place.
• Outline strategies for specific marketing segments.
• Connect strategies to earlier sections like target audience and competitive analysis.
• Review how your marketing strategy will scale with the growth of your business.
• Cover a range of channels and tactics to highlight your ability to adapt your plan in the face of change.

6. Key Features and Benefits

At some point in your business plan, you'll need to review the key features and benefits of your products and/or services.

Laying these out can give readers an idea of how you're positioning yourself in the market and the messaging you're likely to use. It can even help them gain better insight into your business model.

Key Features and Benefits Business Plan Example

In my opinion, the example below does a great job outlining products and services for this business, along with why these qualities will attract the audience.

Tips for Writing Your Key Features and Benefits

• Emphasize why and how your product or service offers value to customers.
• Use metrics and testimonials to support the ideas in this section.
• Talk about how your products and services have the potential to scale.
• Think about including a product roadmap.
• Focus on customer needs, and how the features and benefits you are sharing meet those needs.
• Offer proof of concept for your ideas, like case studies or pilot program feedback.
• Proofread this section carefully, and remove any jargon or complex language.

7. Pricing and Revenue

This is where you'll discuss your cost structure and various revenue streams. Your pricing strategy must be solid enough to turn a profit while staying competitive in the industry. 

For this reason, here’s what I’d might outline in this section:

• The specific pricing breakdowns per product or service
• Why your pricing is higher or lower than your competition's
• (If higher) Why customers would be willing to pay more
• (If lower) How you're able to offer your products or services at a lower cost
• When you expect to break even, what margins do you expect, etc?

Pricing and Revenue Business Plan Example

I like how this business plan example begins with an overview of the business revenue model, then shows proposed pricing for key products.

Tips for Writing Your Pricing and Revenue Section

• Get specific about your pricing strategy. Specifically, how you connect that strategy to customer needs and product value.
• If you are asking a premium price, share unique features or innovations that justify that price point.
• Show how you plan to communicate pricing to customers.
• Create an overview of every revenue stream for your business and how each stream adds to your business model as a whole.
• Share plans to develop new revenue streams in the future.
• Show how and whether pricing will vary by customer segment and how pricing aligns with marketing strategies.
• Restate your value proposition and explain how it aligns with your revenue model.

8. Financials

To me, this section is particularly informative for investors and leadership teams to figure out funding strategies, investment opportunities, and more.

 According to Forbes , you'll want to include three main things:

• Profit/Loss Statement - This answers the question of whether your business is currently profitable.
• Cash Flow Statement - This details exactly how much cash is incoming and outgoing to give insight into how much cash a business has on hand.
• Balance Sheet - This outlines assets, liabilities, and equity, which gives insight into how much a business is worth.

While some business plans might include more or less information, these are the key details I’d include in this section.

Financials Business Plan Example

This balance sheet is a great example of level of detail you’ll need to include in the financials section of your business plan.

Tips for Writing Your Financials Section

• Growth potential is important in this section too. Using your data, create a forecast of financial performance in the next three to five years.
• Include any data that supports your projections to assure investors of the credibility of your proposal.
• Add a break-even analysis to show that your business plan is financially practical. This information can also help you pivot quickly as your business grows.
• Consider adding a section that reviews potential risks and how sensitive your plan is to changes in the market.
• Triple-check all financial information in your plan for accuracy.
• Show how any proposed funding needs align with your plans for growth.

As you create your business plan, keep in mind that each of these sections will be formatted differently. Some may be in paragraph format, while others could be charts or graphs.

The formats above apply to most types of business plans. That said, the format and structure of your plan will vary by your goals for that plan. 

So, I’ve added a quick review of different business plan types. For a more detailed overview, check out this post .

1. Startups

Startup business plans are for proposing new business ideas.

If you’re planning to start a small business, preparing a business plan is crucial. The plan should include all the major factors of your business.

You can check out this guide for more detailed business plan inspiration .

2. Feasibility Studies

Feasibility business plans focus on that business's product or service. Feasibility plans are sometimes added to startup business plans. They can also be a new business plan for an already thriving organization.

3. Internal Use

You can use internal business plans to share goals, strategies, or performance updates with stakeholders. In my opinion, internal business plans are useful for alignment and building support for ambitious goals.

4. Strategic Initiatives

Another business plan that's often for sharing internally is a strategic business plan. This plan covers long-term business objectives that might not have been included in the startup business plan.

5. Business Acquisition or Repositioning

When a business is moving forward with an acquisition or repositioning, it may need extra structure and support. These types of business plans expand on a company's acquisition or repositioning strategy.

Growth sometimes just happens as a business continues operations. But more often, a business needs to create a structure with specific targets to meet set goals for expansion. This business plan type can help a business focus on short-term growth goals and align resources with those goals.

Now that you know what's included and how to format a business plan, let's review some of my favorite templates.

1. HubSpot's One-Page Business Plan

Download a free, editable one-page business plan template..

The business plan linked above was created here at HubSpot and is perfect for businesses of any size — no matter how many strategies we still have to develop.

Fields such as Company Description, Required Funding, and Implementation Timeline give this one-page business plan a framework for how to build your brand and what tasks to keep track of as you grow.

Then, as the business matures, you can expand on your original business plan with a new iteration of the above document.

Why I Like It

This one-page business plan is a fantastic choice for the new business owner who doesn’t have the time or resources to draft a full-blown business plan. It includes all the essential sections in an accessible, bullet-point-friendly format. That way, you can get the broad strokes down before honing in on the details.

2. HubSpot's Downloadable Business Plan Template

We also created a business plan template for entrepreneurs.

The template is designed as a guide and checklist for starting your own business. You’ll learn what to include in each section of your business plan and how to do it.

There’s also a list for you to check off when you finish each section of your business plan.

Strong game plans help coaches win games and help businesses rocket to the top of their industries. So if you dedicate the time and effort required to write a workable and convincing business plan, you’ll boost your chances of success and even dominance in your market.

This business plan kit is essential for the budding entrepreneur who needs a more extensive document to share with investors and other stakeholders.

It not only includes sections for your executive summary, product line, market analysis, marketing plan, and sales plan, but it also offers hands-on guidance for filling out those sections.

3. LiveFlow’s Financial Planning Template with built-in automation

This free template from LiveFlow aims to make it easy for businesses to create a financial plan and track their progress on a monthly basis.

The P&L Budget versus Actual format allows users to track their revenue, cost of sales, operating expenses, operating profit margin, net profit, and more.

The summary dashboard aggregates all of the data put into the financial plan sheet and will automatically update when changes are made.

Instead of wasting hours manually importing your data to your spreadsheet, LiveFlow can also help you to automatically connect your accounting and banking data directly to your spreadsheet, so your numbers are always up-to-date.

With the dashboard, you can view your runway, cash balance, burn rate, gross margins, and other metrics. Having a simple way to track everything in one place will make it easier to complete the financials section of your business plan.

This is a fantastic template to track performance and alignment internally and to create a dependable process for documenting financial information across the business. It’s highly versatile and beginner-friendly.

It’s especially useful if you don’t have an accountant on the team. (I always recommend you do, but for new businesses, having one might not be possible.)

4. ThoughtCo’s Sample Business Plan

One of the more financially oriented sample business plans in this list, BPlan’s free business plan template dedicates many of its pages to your business’s financial plan and financial statements.

After filling this business plan out, your company will truly understand its financial health and the steps you need to take to maintain or improve it.

I absolutely love this business plan template because of its ease-of-use and hands-on instructions (in addition to its finance-centric components). If you feel overwhelmed by the thought of writing an entire business plan, consider using this template to help you with the process.

6. Harvard Business Review’s "How to Write a Winning Business Plan"

Most sample business plans teach you what to include in your business plan, but this Harvard Business Review article will take your business plan to the next level — it teaches you the why and how behind writing a business plan.

With the guidance of Stanley Rich and Richard Gumpert, co-authors of " Business Plans That Win: Lessons From the MIT Enterprise Forum ", you'll learn how to write a convincing business plan that emphasizes the market demand for your product or service.

You’ll also learn the financial benefits investors can reap from putting money into your venture rather than trying to sell them on how great your product or service is.

This business plan guide focuses less on the individual parts of a business plan, and more on the overarching goal of writing one. For that reason, it’s one of my favorites to supplement any template you choose to use. Harvard Business Review’s guide is instrumental for both new and seasoned business owners.

7. HubSpot’s Complete Guide to Starting a Business

If you’re an entrepreneur, you know writing a business plan is one of the most challenging first steps to starting a business.

Fortunately, with HubSpot's comprehensive guide to starting a business, you'll learn how to map out all the details by understanding what to include in your business plan and why it’s important to include them. The guide also fleshes out an entire sample business plan for you.

If you need further guidance on starting a business, HubSpot's guide can teach you how to make your business legal, choose and register your business name, and fund your business. It will also give small business tax information and includes marketing, sales, and service tips.

This comprehensive guide will walk you through the process of starting a business, in addition to writing your business plan, with a high level of exactitude and detail. So if you’re in the midst of starting your business, this is an excellent guide for you.

It also offers other resources you might need, such as market analysis templates.

8. Panda Doc’s Free Business Plan Template

PandaDoc’s free business plan template is one of the more detailed and fleshed-out sample business plans on this list. It describes what you should include in each section, so you don't have to come up with everything from scratch.

Once you fill it out, you’ll fully understand your business’ nitty-gritty details and how all of its moving parts should work together to contribute to its success.

This template has two things I love: comprehensiveness and in-depth instructions. Plus, it’s synced with PandaDoc’s e-signature software so that you and other stakeholders can sign it with ease. For that reason, I especially love it for those starting a business with a partner or with a board of directors.

9. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers several free business plan templates that can be used to inspire your own plan.

Before you get started, you can decide what type of business plan you need — a traditional or lean start-up plan.

Then, you can review the format for both of those plans and view examples of what they might look like.

We love both of the SBA’s templates because of their versatility. You can choose between two options and use the existing content in the templates to flesh out your own plan. Plus, if needed, you can get a free business counselor to help you along the way.

I’ve compiled some completed business plan samples to help you get an idea of how to customize a plan for your business.

I chose different types of business plan ideas to expand your imagination. Some are extensive, while others are fairly simple.

Let’s take a look.

1. LiveFlow

One of the major business expenses is marketing. How you handle your marketing reflects your company’s revenue.

I included this business plan to show you how you can ensure your marketing team is aligned with your overall business plan to get results. The plan also shows you how to track even the smallest metrics of your campaigns, like ROI and payback periods instead of just focusing on big metrics like gross and revenue.

Fintech startup, LiveFlow, allows users to sync real-time data from its accounting services, payment platforms, and banks into custom reports. This eliminates the task of pulling reports together manually, saving teams time and helping automate workflows.

"Using this framework over a traditional marketing plan will help you set a profitable marketing strategy taking things like CAC, LTV, Payback period, and P&L into consideration," explains LiveFlow co-founder, Lasse Kalkar .

When it came to including marketing strategy in its business plan, LiveFlow created a separate marketing profit and loss statement (P&L) to track how well the company was doing with its marketing initiatives.

This is a great approach, allowing businesses to focus on where their marketing dollars are making the most impact. Having this information handy will enable you to build out your business plan’s marketing section with confidence. LiveFlow has shared the template here . You can test it for yourself.

2. Lula Body

Sometimes all you need is a solid mission statement and core values to guide you on how to go about everything. You do this by creating a business plan revolving around how to fulfill your statement best.

For example, Patagonia is an eco-friendly company, so their plan discusses how to make the best environmentally friendly products without causing harm.

A good mission statement  should not only resonate with consumers but should also serve as a core value compass for employees as well.

Patagonia has one of the most compelling mission statements I’ve seen:

"Together, let’s prioritise purpose over profit and protect this wondrous planet, our only home."

It reels you in from the start, and the environmentally friendly theme continues throughout the rest of the statement.

This mission goes on to explain that they are out to "Build the best product, cause no unnecessary harm, and use business to protect nature."

Their mission statement is compelling and detailed, with each section outlining how they will accomplish their goal.

4. Vesta Home Automation

This executive summary for a smart home device startup is part of a business plan created by students at Mount Royal University .

While it lacks some of the sleek visuals of the templates above, its executive summary does a great job of demonstrating how invested they are in the business.

Right away, they mention they’ve invested $200,000 into the company already, which shows investors they have skin in the game and aren’t just looking for someone else to foot the bill.

This is the kind of business plan you need when applying for business funds. It clearly illustrates the expected future of the company and how the business has been coming along over the years.

5. NALB Creative Center

This fictional business plan for an art supply store includes everything one might need in a business plan: an executive summary, a company summary, a list of services, a market analysis summary, and more.

One of its most notable sections is its market analysis summary, which includes an overview of the population growth in the business’ target geographical area, as well as a breakdown of the types of potential customers they expect to welcome at the store. 

This sort of granular insight is essential for understanding and communicating your business’s growth potential. Plus, it lays a strong foundation for creating relevant and useful buyer personas .

It’s essential to keep this information up-to-date as your market and target buyer changes. For that reason, you should carry out market research as often as possible to ensure that you’re targeting the correct audience and sharing accurate information with your investors.

Due to its comprehensiveness, it’s an excellent example to follow if you’re opening a brick-and-mortar store and need to get external funding to start your business .

6. Curriculum Companion Suites (CSS)

If you’re looking for a SaaS business plan example, look no further than this business plan for a fictional educational software company called Curriculum Companion Suites. 

Like the business plan for the NALB Creative Center, it includes plenty of information for prospective investors and other key stakeholders in the business.

One of the most notable features of this business plan is the executive summary, which includes an overview of the product, market, and mission.

The first two are essential for software companies because the product offering is so often at the forefront of the company’s strategy. Without that information being immediately available to investors and executives, then you risk writing an unfocused business plan.

It’s essential to front-load your company’s mission if it explains your "Why?" and this example does just that. In other words, why do you do what you do, and why should stakeholders care? This is an important section to include if you feel that your mission will drive interest in the business and its offerings.

7. Culina Sample Business Plan

Culina's sample business plan is an excellent example of how to lay out your business plan so that it flows naturally, engages readers, and provides the critical information investors and stakeholders need. 

You can use this template as a guide while you're gathering important information for your own business plan. You'll have a better understanding of the data and research you need to do since Culina’s plan outlines these details so flawlessly for inspiration.

8. Plum Sample Business Plan

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550+ Business Plan Examples to Launch Your Business

Need help writing your business plan? Explore over 550 industry-specific business plan examples for inspiration.

Find your business plan example

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Business plan template: There's an easier way to get your business plan done.

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Example business plan format

Before you start exploring our library of business plan examples, it's worth taking the time to understand the traditional business plan format . You'll find that the plans in this library and most investor-approved business plans will include the following sections:

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally only one to two pages. You should also plan to write this section last after you've written your full business plan.

Your executive summary should include a summary of the problem you are solving, a description of your product or service, an overview of your target market, a brief description of your team, a summary of your financials, and your funding requirements (if you are raising money).

Products & services

The products & services chapter of your business plan is where the real meat of your plan lives. It includes information about the problem that you're solving, your solution, and any traction that proves that it truly meets the need you identified.

This is your chance to explain why you're in business and that people care about what you offer. It needs to go beyond a simple product or service description and get to the heart of why your business works and benefits your customers.

Market analysis

Conducting a market analysis ensures that you fully understand the market that you're entering and who you'll be selling to. This section is where you will showcase all of the information about your potential customers. You'll cover your target market as well as information about the growth of your market and your industry. Focus on outlining why the market you're entering is viable and creating a realistic persona for your ideal customer base.

Competition

Part of defining your opportunity is determining what your competitive advantage may be. To do this effectively you need to get to know your competitors just as well as your target customers. Every business will have competition, if you don't then you're either in a very young industry or there's a good reason no one is pursuing this specific venture.

To succeed, you want to be sure you know who your competitors are, how they operate, necessary financial benchmarks, and how you're business will be positioned. Start by identifying who your competitors are or will be during your market research. Then leverage competitive analysis tools like the competitive matrix and positioning map to solidify where your business stands in relation to the competition.

Marketing & sales

The marketing and sales plan section of your business plan details how you plan to reach your target market segments. You'll address how you plan on selling to those target markets, what your pricing plan is, and what types of activities and partnerships you need to make your business a success.

The operations section covers the day-to-day workflows for your business to deliver your product or service. What's included here fully depends on the type of business. Typically you can expect to add details on your business location, sourcing and fulfillment, use of technology, and any partnerships or agreements that are in place.

Milestones & metrics

The milestones section is where you lay out strategic milestones to reach your business goals.

A good milestone clearly lays out the parameters of the task at hand and sets expectations for its execution. You'll want to include a description of the task, a proposed due date, who is responsible, and eventually a budget that's attached. You don't need extensive project planning in this section, just key milestones that you want to hit and when you plan to hit them.

You should also discuss key metrics, which are the numbers you will track to determine your success. Some common data points worth tracking include conversion rates, customer acquisition costs, profit, etc.

Company & team

Use this section to describe your current team and who you need to hire. If you intend to pursue funding, you'll need to highlight the relevant experience of your team members. Basically, this is where you prove that this is the right team to successfully start and grow the business. You will also need to provide a quick overview of your legal structure and history if you're already up and running.

Financial projections

Your financial plan should include a sales and revenue forecast, profit and loss statement, cash flow statement, and a balance sheet. You may not have established financials of any kind at this stage. Not to worry, rather than getting all of the details ironed out, focus on making projections and strategic forecasts for your business. You can always update your financial statements as you begin operations and start bringing in actual accounting data.

Now, if you intend to pitch to investors or submit a loan application, you'll also need a "use of funds" report in this section. This outlines how you intend to leverage any funding for your business and how much you're looking to acquire. Like the rest of your financials, this can always be updated later on.

The appendix isn't a required element of your business plan. However, it is a useful place to add any charts, tables, definitions, legal notes, or other critical information that supports your plan. These are often lengthier or out-of-place information that simply didn't work naturally into the structure of your plan. You'll notice that in these business plan examples, the appendix mainly includes extended financial statements.

Types of business plans explained

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. To get the most out of your plan, it's best to find a format that suits your needs. Here are a few common business plan types worth considering.

Traditional business plan

The tried-and-true traditional business plan is a formal document meant to be used for external purposes. Typically this is the type of plan you'll need when applying for funding or pitching to investors. It can also be used when training or hiring employees, working with vendors, or in any other situation where the full details of your business must be understood by another individual.

Business model canvas

The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

The structure ditches a linear format in favor of a cell-based template. It encourages you to build connections between every element of your business. It's faster to write out and update, and much easier for you, your team, and anyone else to visualize your business operations.

One-page business plan

The true middle ground between the business model canvas and a traditional business plan is the one-page business plan . This format is a simplified version of the traditional plan that focuses on the core aspects of your business.

By starting with a one-page plan , you give yourself a minimal document to build from. You'll typically stick with bullet points and single sentences making it much easier to elaborate or expand sections into a longer-form business plan.

Growth planning

Growth planning is more than a specific type of business plan. It's a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, forecast, review, and refine based on your performance.

It holds all of the benefits of the single-page plan, including the potential to complete it in as little as 27 minutes . However, it's even easier to convert into a more detailed plan thanks to how heavily it's tied to your financials. The overall goal of growth planning isn't to just produce documents that you use once and shelve. Instead, the growth planning process helps you build a healthier company that thrives in times of growth and remain stable through times of crisis.

It's faster, keeps your plan concise, and ensures that your plan is always up-to-date.

Download a free sample business plan template

Ready to start writing your own plan but aren't sure where to start? Download our free business plan template that's been updated for 2024.

This simple, modern, investor-approved business plan template is designed to make planning easy. It's a proven format that has helped over 1 million businesses write business plans for bank loans, funding pitches, business expansion, and even business sales. It includes additional instructions for how to write each section and is formatted to be SBA-lender approved. All you need to do is fill in the blanks.

How to use an example business plan to help you write your own

How do you know what elements need to be included in your business plan, especially if you've never written one before? Looking at examples can help you visualize what a full, traditional plan looks like, so you know what you're aiming for before you get started. Here's how to get the most out of a sample business plan.

Choose a business plan example from a similar type of company

You don't need to find an example business plan that's an exact fit for your business. Your business location, target market, and even your particular product or service may not match up exactly with the plans in our gallery. But, you don't need an exact match for it to be helpful. Instead, look for a plan that's related to the type of business you're starting.

For example, if you want to start a vegetarian restaurant, a plan for a steakhouse can be a great match. While the specifics of your actual startup will differ, the elements you'd want to include in your restaurant's business plan are likely to be very similar.

Use a business plan example as a guide

Every startup and small business is unique, so you'll want to avoid copying an example business plan word for word. It just won't be as helpful, since each business is unique. You want your plan to be a useful tool for starting a business —and getting funding if you need it.

One of the key benefits of writing a business plan is simply going through the process. When you sit down to write, you'll naturally think through important pieces, like your startup costs, your target market , and any market analysis or research you'll need to do to be successful.

You'll also look at where you stand among your competition (and everyone has competition), and lay out your goals and the milestones you'll need to meet. Looking at an example business plan's financials section can be helpful because you can see what should be included, but take them with a grain of salt. Don't assume that financial projections for a sample company will fit your own small business.

If you're looking for more resources to help you get started, our business planning guide is a good place to start. You can also download our free business plan template .

Think of business planning as a process, instead of a document

Think about business planning as something you do often , rather than a document you create once and never look at again. If you take the time to write a plan that really fits your own company, it will be a better, more useful tool to grow your business. It should also make it easier to share your vision and strategy so everyone on your team is on the same page.

Adjust your plan regularly to use it as a business management tool

Keep in mind that businesses that use their plan as a management tool to help run their business grow 30 percent faster than those businesses that don't. For that to be true for your company, you'll think of a part of your business planning process as tracking your actual results against your financial forecast on a regular basis.

If things are going well, your plan will help you think about how you can re-invest in your business. If you find that you're not meeting goals, you might need to adjust your budgets or your sales forecast. Either way, tracking your progress compared to your plan can help you adjust quickly when you identify challenges and opportunities—it's one of the most powerful things you can do to grow your business.

Prepare to pitch your business

If you're planning to pitch your business to investors or seek out any funding, you'll need a pitch deck to accompany your business plan. A pitch deck is designed to inform people about your business. You want your pitch deck to be short and easy to follow, so it's best to keep your presentation under 20 slides.

Your pitch deck and pitch presentation are likely some of the first things that an investor will see to learn more about your company. So, you need to be informative and pique their interest. Luckily, just like you can leverage an example business plan template to write your plan, we also have a gallery of over 50 pitch decks for you to reference.

With this gallery, you have the option to view specific industry pitches or get inspired by real-world pitch deck examples.

Ready to get started?

Now that you know how to use an example business plan to help you write a plan for your business, it's time to find the right one.

Use the search bar below to get started and find the right match for your business idea.

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Business plan template

If you’re looking for a way to start your business off on the right foot, a business plan template can help you establish the foundation for your strategy. Get started in a few clicks with Asana’s free business plan template.

Sign up to use this template.

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You’re pumped—you just thought of the greatest business idea ever. You want to get started, but you don’t have a plan laid out. You need a loan to get your idea off the ground, and the bank wants to see an in-depth business plan. We’re here to help.

What is a business plan template?

A business plan template is a framework that helps you solidify your ideas in an organized format. Our free business plan template walks you through how to create a new business from scratch, or re-imagine your existing business in a new market.

What components are included in a business plan template?

Our business plan template covers what an organization wants to achieve within three to five years. By using our template, you’ll have a place to capture all of the major information you need in order to complete your business plan. That includes:

Company description : Information like your executive summary , your company’s mission statement and vision, and your founder’s bio. 

Product and services: A high-level overview of what your company provides, including core products or services. This may also include how your product is developed, any potential screenshots or prototypes of your product, and pricing plans.

Marketing plan: How you plan to bring your product into market at a high level. You can add information like a SWOT analysis , target market research, and brand positioning in this section.

Financial plan: Important financial information such as balance sheets, a break-even analysis, and your cash flow projections. 

Management and organization information: Information on your company’s founders, executive team, and the board of directors.

How to use our free business plan template

Using Asana’s free business plan template is simple. Start by creating a new project with our free template. From there, add relevant information for your specific business plan in the sections provided in our template. If there’s more information you want to include in your business plan, you’re free to add sections, custom fields, or additional tasks to make this template fit your needs.

Integrated features

Goals . Goals in Asana directly connect to the work you’re doing to hit them, making it easy for team members to see what they’re working towards. More often than not, our goals live separate from the work that goes into achieving them. By connecting your team and company goals to the work that supports them, team members have real-time insight and clarity into how their work directly contributes to your team—and company—success. As a result, team members can make better decisions. If necessary, they can identify the projects that support the company’s strategy and prioritize work that delivers measurable results. 

Reporting . Reporting in Asana translates project data into visual charts and digestible graphs. By reporting on work where work lives, you can reduce duplicative work and cut down on unnecessary app switching. And, because all of your team’s work is already in Asana, you can pull data from any project or team to get an accurate picture of what’s happening in one place.

Milestones . Milestones represent important project checkpoints. By setting milestones throughout your project, you can let your team members and project stakeholders know how you’re pacing towards your goal. Use milestones as a chance to celebrate the little wins on the path towards the big project goal. 

Project Overview . Project Overview is your one-stop-shop for all important project context. Give your team a bird’s-eye view of the what, why, and how of your project work. Add a project description to set the tone for how you’ll work together in Asana. Then, share any important resources and context—like meeting details, communication channels, and project briefs—in one place.

Microsoft Teams . With the Microsoft Teams + Asana integration, you can search for and share the information you need without leaving Teams. Easily connect your Teams conversations to actionable items in Asana. Plus, create, assign, and view tasks during a Teams Meeting without needing to switch to your browser.

Slack . Turn ideas, work requests, and action items from Slack into trackable tasks and comments in Asana. Go from quick questions and action items to tasks with assignees and due dates. Easily capture work so requests and to-dos don’t get lost in Slack. 

Google Workplace . Attach files directly to tasks in Asana with the Google Workplace file chooser, which is built into the Asana task pane. Easily attach any My Drive file with just a few clicks.

Gmail . With the Asana for Gmail integration, you can create Asana tasks directly from your Gmail inbox. Any tasks you create from Gmail will automatically include the context from your email, so you never miss a beat. Need to refer to an Asana task while composing an email? Instead of opening Asana, use the Asana for Gmail add-on to simply search for that task directly from your Gmail inbox. 

How do I create a business plan template?

Instead of taking the time to create a business plan from scratch, start the process off with Asana’s free template.To further customize your template, add evergreen information about your specific business, such as your business model, company name, address, mission statement, value proposition, or target audience. Adding these details to your template lets you avoid documenting this information from scratch every time you create a new business plan.

What components should I include in a business plan template?

Business plan templates typically contain five main sections: a company description, products and services, a marketing plan, basic management and organization information, and your current financial plan.

How long should my business plan be?

Short answer—as long as you need it to be. The long answer is that your business plan should have the answers to specific questions on how your business is run, from the perspective of an investor. The goal of a business plan is to highlight your business strategy for the next three to five years. This means any important operational, financial, and strategic information should be included. 

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Using a contingency plan template will help you create well-developed strategies to help you protect your business from potential risk. Learn how Asana can help.

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A requirements traceability matrix template is a tool to help organize project requirements in a concise manner. Learn how to create one for your team.

Creating a digital punch list template can help streamline the final bits of a project for your team. Here’s how to create one.

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Simplify your GTM strategy with a go-to-market strategy template that aligns teams and keeps work on track. Learn how in Asana.

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Endings are important. Create a project closure template to help your team tie up loose ends and finish their projects with confidence.

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Stay on top of your project’s performance. Keep everyone on the same page about what’s been completed and where your project is headed.

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What if you could create, share, and update your product roadmap in one place? Everyone could see you’re tackling the right priorities. Start planning your product roadmap with this template.

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Create a program roadmap template and know the exact structure of each program, how they operate, and their future plans—company-wide.

Operational plan template

Learn how Asana’s operations team uses standardized processes to streamline strategic planning—no matter how many stakeholders are involved.

Strategic planning template

When you’re launching a new product, team, or even a new business, strategic planning templates keep you laser-focused and on task.

Annual planning template

Set clear goals and streamline your planning process—so every level of your company is aligned on what’s important.

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The more you know about your competitors, the better your strategy will be. Competitive analysis templates use a data-driven approach to see exactly how your business, products, and features compare to your competition.

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Does your team know what to do during a crisis? Using a crisis management plan template can help keep all your employees on the same page.

SIPOC template

Use your SIPOC template to ensure that the processes outlined in your SIPOC diagrams are consistent and up to your standards.

Small business, big goals

Coming up with your business strategy can be daunting, but Asana helps businesses of all sizes track and hit their goals. See how with a free trial.

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How writing a letter to your future self can help you set—and achieve—long-term goals, experts say

Creating and maintaining the kind of habits that will benefit you in the long-term can be a challenge. Just a month into 2024, 41% of Americans who'd made New Year's resolutions had kept just some or none of them at all, according to the Pew Research Center .

But there are practices that can help. Ari Wallach, executive director of Longpath , which helps foster long-term thinking in organizations and individuals, outlined a couple of practices for changing present-day behavior on a recent episode of the "Masters of Scale: Rapid Response" podcast.

One of them is to "write a letter to your future self," he told podcast host Bob Safian. "The research shows that it's not about receiving that letter but it's actually about writing that letter that changes how you think about yourself and your role in future shaping."

Mental health professionals agree that there's a benefit to this practice.

Writing a letter to your future self "helps people concentrate on their goals," says Gail Purvis, clinician in private practice and at Weill Cornell Medicine's department of psychiatry. That's because "putting pen to paper … emphasizes the importance of thinking about your future and what you want," she says.

The research shows that it's not about receiving that letter but it's actually about writing that letter. Ari Wallach Executive director, Longpath

The most effective way of doing this is not to set concrete goals, such as "by now you should have purchased a house and gotten married and had two kids," she says. Rather, Purvis would encourage people to approach their future selves with genuine hopes and compassion for them.

Try writing statements like "I hope the work that you have decided to do is meaningful and pleasurable to you" and "I hope that you have friends who love you" and who you love just as much. These kinds of statements won't make your future self feel guilty if certain goals have not been accomplished.

Wallach doesn't emphasize the importance of receiving the letter as much as crafting it, but Purvis says there's benefit to this as well.

Reading your letter down the line "increases a lot of self-awareness," she says, because it can help you get to know yourself better and see, over time, what you set out to do and what you accomplished. Ultimately, "the more you know yourself and the more you have compassion for yourself, the better decisions you'll make for yourself and for your loved ones."

Write that letter to your future self and keep it safe for as long as you want to wait to open it. You can also ask a family member to hold on to it, set it as an email that will get sent in the future or try using a service like FutureMe , which lets you write a letter and sends it for you.

Want to land your dream job in 2024?   Take CNBC's new online course How to Ace Your Job Interview  to learn what hiring managers are really looking for, body language techniques, what to say and not to say, and the best way to talk about pay. CNBC Make It readers can save 25% with discount code 25OFF.

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Royal Mail urged to investigate claims of Chinese-made fake stamps

Minister says he will work with business to investigate, while China dismisses suggestion of state role as ‘absurd’

The Post Office minister, Kevin Hollinrake, has called on Royal Mail to investigate allegations that factories in China are mass-producing fake British stamps for export.

Use of a counterfeit stamp can result in a £5 fine but realistic fakes are being sold online and bought unwittingly by the public and smaller retailers.

Four Chinese suppliers offering to print up to 1m counterfeit Royal Mail stamps a week for as little as 4p each were identified by the Telegraph . The Mail reported seeing Chinese websites offering sheets of 50 counterfeit stamps for buyers willing to commit to a minimum purchase of 20,000. The stamps included an imitation of the new barcodes.

The apparent scale of the operation has prompted the suggestion that this may be sanctioned by the Chinese state and intended as a form of “economic warfare”.

Hollinrake said he would work with Royal Mail and retailers to investigate. He told the Mail: “It is key to prevent counterfeit stamps entering our supply chain in the UK. The Royal Mail must do everything possible to prevent counterfeits entering our circulation and must establish where they are coming from and how they are entering our marketplace.”

Alan Mendoza, of the Henry Jackson Society, a neoconservative thinktank, told the Telegraph: “It is inconceivable that a large-scale counterfeit operation like this could be occurring without the knowledge and therefore tacit approval of the Chinese Communist party. It’s an obvious form of economic warfare.”

Fake stamps are becoming so realistic that even figures at the Royal Mail admit they find it hard to tell the difference on sight. David Gold, the director of external affairs and policy at Royal Mail, told BBC One’s Watchdog programme: “The reality is counterfeiters are now so good at what they do that even I – and I work for Royal Mail – I can’t tell the difference just by looking at them.”

The fakes are often entering the supply chain via smaller shops which are not required to buy directly from Royal Mail and instead source from wholesalers in bulk. According to the Telegraph, the fakes are sold on widely used online stores as well as websites that mimic the official Royal Mail site.

Stamps bought directly from the Post Office are not affected as these are all made in a factory in Wolverhampton.

Royal Mail added barcodes to stamps in 2022 as it was losing tens of millions of pounds every year to counterfeits.

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A Royal Mail spokesperson said: “We are working hard to remove counterfeit stamps from circulation. We regularly monitor online marketplaces to detect suspicious activity, such as sales of heavily discounted stamps, and work closely with retailers and law enforcement agencies to identify those who produce counterfeit stamps.

“We work closely with a number of police forces across the country and in recent cases we have recovered stamps with a retail value of over £250,000.”

A spokesperson for the Chinese embassy in London told the Times the claims of possible state involvement were “absurd”. He said: “It is totally ridiculous, absurd and ill-intentional. How could one imagine a sovereign country triggers war by bringing fake stamps? If this case really happened, [the] first thing to do is to have [a] thorough investigation over the internal supply chain, instead of pursuing the attention of [the] media.”

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