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Best Small-Business Group Health Insurance Plans

Amrita Jayakumar

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

Table of Contents

Best overall: Blue Cross Blue Shield

Best for low-cost plan options: kaiser permanente, best for transparency: unitedhealthcare, best for customer service: humana, best for health expense funds: aetna (cvs health).

As a small-business owner, the decision to offer health insurance to your employees is a personal one. If you have fewer than 50 employees, you are not required by law to offer a group health insurance plan. But you may still want to consider it as a tool to hire and retain workers and to claim tax benefits for your business.

Choosing the right group health insurance plan for your employees depends on your budget and also factors like the number of employees you have, how old they are and where they live. You can purchase insurance through the federal government’s Small Business Health Options marketplace, directly from an insurance provider or using an insurance broker.

» MORE: How much does small business health insurance cost?

Here are our picks for the top small-business group health insurance providers to consider.

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Largest provider network in the country.

Limited plan details available online; must talk to a sales representative.

Why we like it: Blue Cross Blue Shield is an association of 35 locally operated insurance companies throughout the country. Together, the association provides access to 93% of doctors and 96% of hospitals nationwide. This means finding in-network doctors should not be a problem for your employees anywhere in the country.

Blue Cross Blue Shield provides a variety of plan options for your employees, including preferred provider organizations, health maintenance organizations and high-deductible health plans, as well as group dental and vision plans. The company ranks well in J.D. Power’s 2021 Commercial Member Health Plan Study, which measures member satisfaction. Blue Cross Blue Shield wins the top spot in eight U.S. regions.

For 2019, the average rating for Blue Cross Blue Shield plans on the National Committee for Quality Assurance website was 3.5 on a scale of 1 to 5. The NCQA rates plans on factors such as clinical quality and member satisfaction.

Low-cost HMO plans.

Small-business plan comparisons available online.

Available only in California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington and Washington, D.C.

Why we like it: Kaiser Permanente is only available in a handful of states but it is well-rated in those regions, according to the J.D. Power study. Its average rating on the NCQA website is also high, at 4.3. Kaiser is best known for its HMO plans, which it offers at a low cost because patients are generally required to see providers within a small network. As a small-business owner, you can easily view the details of all of Kaiser's group offerings, including pricing information, on its website.

Comparison tool for small-business plans available online.

Available in all 50 states.

Does not rank in J.D. Power’s Commercial Member Health Plan Study of top insurers.

Why we like it: UnitedHealthcare is the largest insurance company in the country by market share; it works with more than 1.3 million physicians and care professionals, and 6,500 hospitals. Its small-business plan comparison tool makes it stand out from the competition. You can enter some basic information about your business and compare plan costs and features easily on UnitedHealthcare’s website. On average, the company’s NCQA rating is 3.4.

Plan details available online.

Smaller provider network than other insurers.

Why we like it: Humana is ranked well for customer service according to the J.D. Power study. The company’s customer service was also rated the best in the health insurance category of Newsweek’s annual Best Customer Service report two years in a row, for 2019 and 2020. On average, its plans had an NCQA rating of 3.4. Humana offers five types of plans geared toward small businesses and lists the features of each on its website.

Large network of providers.

Limited plan details available online.

Why we like it: Aetna has a comprehensive set of health expense funds that you can offer employees for pre-tax savings, such as health savings accounts and flexible savings accounts, as well as health and retirement reimbursement arrangements. (Note: Aetna’s HSA option is paired only with its high-deductible health plans.) Aetna ranks high on J.D. Power’s Commercial Member Health Plan Study and has an average NCQA rating of 3.3.

On a similar note...

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

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

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

Lean Business Plan Templates 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.

Streamline Your Business Planning Activities with Real-Time Work Management in Smartsheet

Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. 

The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

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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Group Home Business Plan Template

Written by Dave Lavinsky

group home business plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their group home companies.

If you’re unfamiliar with creating a group home business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a group home business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your group home business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

If you’re looking to start a group home business or grow your existing group home company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your group home business to improve your chances of success. Your group home business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Group Home Businesses

With regard to funding, the main sources of funding for a group home business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for group home companies.

Finish Your Business Plan Today!

How to write a business plan for a group home business.

If you want to start a group home business or expand your current group home business, you need a business plan. The guide below details the necessary information for how to write each essential component of your group home business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of group home business you are running and the status. For example, are you a startup, do you have a group home business that you would like to grow, or are you operating a chain of group homes in your business?

Next, provide an overview of each of the subsequent sections of your plan.

  • Give a brief overview of the group home industry.
  • Discuss the type of group home business you are operating.
  • Detail your direct competitors. Give an overview of your target customers.
  • Provide a snapshot of your marketing strategy. Identify the key members of your team.
  • Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of group home business you are operating.

For example, you might specialize in one of the following types of group home businesses:

  • Faith-based Group Home: In this type of group home business, you may specialize in adding spiritual support courses and counsel to the residence group home experience.
  • Boutique Group Home: If you are opening a boutique group home, you will want to offer distinctive, personalized services that appeal to your target audience. Offerings may include massage treatments, herbal wraps, nutritional supplements and counseling for the small group of guests in your boutique group home.
  • Senior Group Home: This type of group home business is focused on guests who are aged 65 years and older. Guests may attend classes on health and safety for seniors, as well as receive medical treatment and recovery options. Classes are small and residences are typically small in size. On-call medical care may also be offered.
  • Teen & Young Adult Group Home: Offering select group homes to teens and young adults offers a marketing advantage, as most teens will opt for this environment. Guests are engaged in physical activities, including dances and outdoor activities, as well as circle therapy groups, medical oversight and rooms that sleep up to four teens or adults.

In addition to explaining the type of group home business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include the number of guests served, the amount of revenue during the past six months, opening a second group home location, etc.
  • Your legal business structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the group home industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the group home industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your group home business plan:

  • How big is the group home industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential target market for your group home business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your group home business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, physicians, hospital placement staff.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of group home business you operate. Clearly, individuals would respond to different marketing promotions than hospital staff, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regard to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

Finish Your Group Home Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other group home businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes on-site church programs, welfare housing assistance and drug treatment centers. You need to mention such competition, as well.

For each direct competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

  • What types of customers do they serve?
  • What type of group home business are they?
  • What is their pricing (premium, low, etc.)?
  • What sets their business apart from others?
  • What are their weaknesses?

With regard to the last two questions, think about your answers from the customers’ perspective. And, don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide options for group home visitors on a daily or weekly basis?
  • Will you offer products or services that your competition doesn’t?
  • Will you provide better customer service?
  • Will you offer value-based pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a group home business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of group home company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide a six-month extended stay group home experience?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your group home company. Document where your company is situated and mention how the site will impact your success. For example, is your group home business located in a quiet neighborhood, a rural farming district, or an inner-city boarding house? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your group home marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

  • Advertise in regional medical periodicals and/or magazines
  • Reach out to physician websites
  • Distribute direct mail pieces to your target audience
  • Engage in email marketing
  • Advertise on social media platforms
  • Improve the SEO (search engine optimization) with target keywords on your website

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your group home business, including answering calls, planning and stocking group home items, paying invoices, contacting customers, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to admit your 100th guest, or when you hope to reach $X in revenue. It could also be when you expect to expand your group home business to a second or third location.

Management Team

To demonstrate your group home business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing group home businesses. If so, highlight this experience and expertise. But, also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a group home business or successfully running a small motel.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 10 guests per day, and/or offer group home experiences with amenities? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your group home business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit, but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a group home business:

  • Cost of medical care, medical supplies, and administrative staff
  • Cost of furnishings or accessories
  • Payroll or salaries paid to staff
  • Business insurance
  • Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, office supplies and equipment

Attach your full financial projections in the appendix of your plan, along with any supporting documents that make your plan more compelling. For example, you might include your group home location lease or a list of associates who are already lined up to refer guests to your business.

Writing a business plan for your group home business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the group home industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful group home business.

Group Home Business Plan FAQs

What is the easiest way to complete my group home business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your group home business plan.

Where Can I Download a Group Home Business Plan PDF?

You can download the group home business plan pdf here.

Our sample group home business plan pdf allows you to see the key sections to complete in your plan and the key questions that each must answer. The business plan pdf will definitely get you started in the right direction.

How Do You Start a Group Home Business?

Starting a Group Home business is easy with these 14 steps:

  • Choose the Name for Your Group Home Business
  • Create Your Group Home Business Plan
  • Choose the Legal Structure for Your Group Home Business
  • Secure Startup Funding for Your Group Home Business (If Needed)
  • Secure a Location for Your Business
  • Register Your Group Home Business with the IRS
  • Open a Business Bank Account
  • Get a Business Credit Card
  • Get the Required Business Licenses and Permits
  • Get Business Insurance for Your Group Home Business
  • Buy or Lease the Right Group Home Business Equipment
  • Develop Your Group Home Business Marketing Materials
  • Purchase and Setup the Software Needed to Run Your Group Home Business
  • Open for Business

Don’t you wish there was a faster, easier way to finish your Group Home business plan?

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What Is a Business Plan?

Understanding business plans, how to write a business plan, common elements of a business plan, how often should a business plan be updated, the bottom line, business plan: what it is, what's included, and how to write one.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

group 1 business plan

A business plan is a document that details a company's goals and how it intends to achieve them. Business plans can be of benefit to both startups and well-established companies. For startups, a business plan can be essential for winning over potential lenders and investors. Established businesses can find one useful for staying on track and not losing sight of their goals. This article explains what an effective business plan needs to include and how to write one.

Key Takeaways

  • A business plan is a document describing a company's business activities and how it plans to achieve its goals.
  • Startup companies use business plans to get off the ground and attract outside investors.
  • For established companies, a business plan can help keep the executive team focused on and working toward the company's short- and long-term objectives.
  • There is no single format that a business plan must follow, but there are certain key elements that most companies will want to include.

Investopedia / Ryan Oakley

Any new business should have a business plan in place prior to beginning operations. In fact, banks and venture capital firms often want to see a business plan before they'll consider making a loan or providing capital to new businesses.

Even if a business isn't looking to raise additional money, a business plan can help it focus on its goals. A 2017 Harvard Business Review article reported that, "Entrepreneurs who write formal plans are 16% more likely to achieve viability than the otherwise identical nonplanning entrepreneurs."

Ideally, a business plan should be reviewed and updated periodically to reflect any goals that have been achieved or that may have changed. An established business that has decided to move in a new direction might create an entirely new business plan for itself.

There are numerous benefits to creating (and sticking to) a well-conceived business plan. These include being able to think through ideas before investing too much money in them and highlighting any potential obstacles to success. A company might also share its business plan with trusted outsiders to get their objective feedback. In addition, a business plan can help keep a company's executive team on the same page about strategic action items and priorities.

Business plans, even among competitors in the same industry, are rarely identical. However, they often have some of the same basic elements, as we describe below.

While it's a good idea to provide as much detail as necessary, it's also important that a business plan be concise enough to hold a reader's attention to the end.

While there are any number of templates that you can use to write a business plan, it's best to try to avoid producing a generic-looking one. Let your plan reflect the unique personality of your business.

Many business plans use some combination of the sections below, with varying levels of detail, depending on the company.

The length of a business plan can vary greatly from business to business. Regardless, it's best to fit the basic information into a 15- to 25-page document. Other crucial elements that take up a lot of space—such as applications for patents—can be referenced in the main document and attached as appendices.

These are some of the most common elements in many business plans:

  • Executive summary: This section introduces the company and includes its mission statement along with relevant information about the company's leadership, employees, operations, and locations.
  • Products and services: Here, the company should describe the products and services it offers or plans to introduce. That might include details on pricing, product lifespan, and unique benefits to the consumer. Other factors that could go into this section include production and manufacturing processes, any relevant patents the company may have, as well as proprietary technology . Information about research and development (R&D) can also be included here.
  • Market analysis: A company needs to have a good handle on the current state of its industry and the existing competition. This section should explain where the company fits in, what types of customers it plans to target, and how easy or difficult it may be to take market share from incumbents.
  • Marketing strategy: This section can describe how the company plans to attract and keep customers, including any anticipated advertising and marketing campaigns. It should also describe the distribution channel or channels it will use to get its products or services to consumers.
  • Financial plans and projections: Established businesses can include financial statements, balance sheets, and other relevant financial information. New businesses can provide financial targets and estimates for the first few years. Your plan might also include any funding requests you're making.

The best business plans aren't generic ones created from easily accessed templates. A company should aim to entice readers with a plan that demonstrates its uniqueness and potential for success.

2 Types of Business Plans

Business plans can take many forms, but they are sometimes divided into two basic categories: traditional and lean startup. According to the U.S. Small Business Administration (SBA) , the traditional business plan is the more common of the two.

  • Traditional business plans : These plans tend to be much longer than lean startup plans and contain considerably more detail. As a result they require more work on the part of the business, but they can also be more persuasive (and reassuring) to potential investors.
  • Lean startup business plans : These use an abbreviated structure that highlights key elements. These business plans are short—as short as one page—and provide only the most basic detail. If a company wants to use this kind of plan, it should be prepared to provide more detail if an investor or a lender requests it.

Why Do Business Plans Fail?

A business plan is not a surefire recipe for success. The plan may have been unrealistic in its assumptions and projections to begin with. Markets and the overall economy might change in ways that couldn't have been foreseen. A competitor might introduce a revolutionary new product or service. All of this calls for building some flexibility into your plan, so you can pivot to a new course if needed.

How frequently a business plan needs to be revised will depend on the nature of the business. A well-established business might want to review its plan once a year and make changes if necessary. A new or fast-growing business in a fiercely competitive market might want to revise it more often, such as quarterly.

What Does a Lean Startup Business Plan Include?

The lean startup business plan is an option when a company prefers to give a quick explanation of its business. For example, a brand-new company may feel that it doesn't have a lot of information to provide yet.

Sections can include: a value proposition ; the company's major activities and advantages; resources such as staff, intellectual property, and capital; a list of partnerships; customer segments; and revenue sources.

A business plan can be useful to companies of all kinds. But as a company grows and the world around it changes, so too should its business plan. So don't think of your business plan as carved in granite but as a living document designed to evolve with your business.

Harvard Business Review. " Research: Writing a Business Plan Makes Your Startup More Likely to Succeed ."

U.S. Small Business Administration. " Write Your Business Plan ."

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550+ Business Plan Examples to Launch Your Business

550+ Free Sample Business Plans

Need help writing your business plan? Explore over 550 industry-specific business plan examples for inspiration. Go even further with LivePlan , which harnesses AI-assisted writing features and SBA-approved plan examples to get you funded.

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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

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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 , or get started right away with LivePlan .

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. Or for a modern pitch solution that helps you create a business plan and pitch deck side-by-side, you may want to check out LivePlan . It will help you build everything needed for outside investment and to better manage your business.

Get LivePlan in your classroom

Are you an educator looking for real-world business plan examples for your students? With LivePlan, you give your students access to industry-best business plans and help them set goals and track metrics with spreadsheet-free financial forecasts. All of this within a single tool that includes additional instructional resources that work seamlessly alongside your current classroom setup.

With LivePlan, it's not just a classroom project. It's your students planning for their futures. Click here to learn more about business planning for students .

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Group Home Business Plan

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Starting a group home is an excellent way to make money, help those in need, and make a positive impact on society.

However, just like any other business—you will need a solid business plan in place to succeed.

Need help writing a business plan for your group home business? You’re at the right place. Our group home business plan template will help you get started.

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How to Write a Group Home Business Plan?

Writing a group home business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your business:

  • This section may include the name of your group home business, its location, when it was founded, the type of group home business (E.g., residential care homes, foster care group home, veteran group home.), etc.

Market opportunity:

Group home services:.

  • For instance, a veteran group home may include housing and accommodation, mental health support, physical health care, and substance abuse treatment as some of your services.

Marketing & sales strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business description:

  • Residential care homes
  • Assisted living facilities
  • Veteran group homes
  • Transitional housing
  • Describe the legal structure of your group home, whether it is a sole proprietorship, LLC, partnership, or others.
  • Explain where your business is located and why you selected the place.

Mission statement:

Business history:.

  • Additionally, If you have received any awards or recognition for excellent work, describe them.

Future goal:

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

  • For instance, children and youth with complex medical or special needs can be an ideal target market for a foster care group home business.

Market size and growth potential:

Competitive analysis:, market trends:.

  • For instance, there is a growing demand for veteran group homes; explain how you plan on dealing with this potential growth opportunity.

Regulatory environment:

Here are a few tips for writing the market analysis section of your veteran group home business plan:

  • Conduct market research, industry reports, and surveys to gather data.
  • Provide specific and detailed information whenever possible.
  • Illustrate your points with charts and graphs.
  • Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe your services:

Mention your organization’s services to its residents. This list may include services like,

  • Housing and accommodation
  • Mental health support
  • Substance abuse treatment
  • Peer support
  • Vocational training

Supportive service and resources:

  • For instance, these resources may include support in transitioning to independent living, family engagement and support, access to community resources, etc.

Quality Assurance:

  • This may include maintaining cleanliness, gathering feedback from residents, and making adjustments for the betterment of the facility.

Additional criteria:

In short, this section of your group home plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique selling proposition (USP):

  • For example, specialized care and expertise, a person-centered approach, and a holistic approach to care could be some of the great USPs for a group home.

Pricing strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your foster care group home business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your group home, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & training:

Operational process:, facilities & equipment:.

  • Explain how these facilities and equipment help you maintain quality standards and improve the efficiency of your business operations.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your group home business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founder/CEO:

Key managers:.

  • It should include key executives(e.g., program director, Nursing director.), senior management, and other department managers (e.g., operations manager, HR manager.) involved in the business operations, including their education, professional background, and relevant industry experience.

Organizational structure:

Compensation plan:, advisors/consultants:.

  • So, if you have any advisors or consultants, include them with their names and brief information consisting of roles and years of experience.

This section should describe the key personnel for your group home services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

  • This exercise will help you understand how much revenue you need to generate to sustain or be profitable.

Financing needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

  • Add a table of contents for the appendix section to help readers easily find specific information or sections.
  • In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more.These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
  • Provide data derived from market research, including stats about the group home industry, user demographics, and industry trends.
  • Include any legal documents such as permits, licenses, and contracts.
  • Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your group home business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

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This sample group home business plan will provide an idea for writing a successful group home plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our group home business plan pdf .

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Frequently asked questions, why do you need a group home business plan.

A business plan is an essential tool for anyone looking to start or run a successful group home business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your group home.

How to get funding for your group home business?

There are several ways to get funding for your group home business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

Small Business Administration (SBA) loan

Crowdfunding, angel investors.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your group home business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your group home business plan and outline your vision as you have in your mind.

What is the easiest way to write your group home business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any group home business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

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Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Download Group Home Business Plan

  • 11.4 The Business Plan
  • Introduction
  • 1.1 Entrepreneurship Today
  • 1.2 Entrepreneurial Vision and Goals
  • 1.3 The Entrepreneurial Mindset
  • Review Questions
  • Discussion Questions
  • Case Questions
  • Suggested Resources
  • 2.1 Overview of the Entrepreneurial Journey
  • 2.2 The Process of Becoming an Entrepreneur
  • 2.3 Entrepreneurial Pathways
  • 2.4 Frameworks to Inform Your Entrepreneurial Path
  • 3.1 Ethical and Legal Issues in Entrepreneurship
  • 3.2 Corporate Social Responsibility and Social Entrepreneurship
  • 3.3 Developing a Workplace Culture of Ethical Excellence and Accountability
  • 4.1 Tools for Creativity and Innovation
  • 4.2 Creativity, Innovation, and Invention: How They Differ
  • 4.3 Developing Ideas, Innovations, and Inventions
  • 5.1 Entrepreneurial Opportunity
  • 5.2 Researching Potential Business Opportunities
  • 5.3 Competitive Analysis
  • 6.1 Problem Solving to Find Entrepreneurial Solutions
  • 6.2 Creative Problem-Solving Process
  • 6.3 Design Thinking
  • 6.4 Lean Processes
  • 7.1 Clarifying Your Vision, Mission, and Goals
  • 7.2 Sharing Your Entrepreneurial Story
  • 7.3 Developing Pitches for Various Audiences and Goals
  • 7.4 Protecting Your Idea and Polishing the Pitch through Feedback
  • 7.5 Reality Check: Contests and Competitions
  • 8.1 Entrepreneurial Marketing and the Marketing Mix
  • 8.2 Market Research, Market Opportunity Recognition, and Target Market
  • 8.3 Marketing Techniques and Tools for Entrepreneurs
  • 8.4 Entrepreneurial Branding
  • 8.5 Marketing Strategy and the Marketing Plan
  • 8.6 Sales and Customer Service
  • 9.1 Overview of Entrepreneurial Finance and Accounting Strategies
  • 9.2 Special Funding Strategies
  • 9.3 Accounting Basics for Entrepreneurs
  • 9.4 Developing Startup Financial Statements and Projections
  • 10.1 Launching the Imperfect Business: Lean Startup
  • 10.2 Why Early Failure Can Lead to Success Later
  • 10.3 The Challenging Truth about Business Ownership
  • 10.4 Managing, Following, and Adjusting the Initial Plan
  • 10.5 Growth: Signs, Pains, and Cautions
  • 11.1 Avoiding the “Field of Dreams” Approach
  • 11.2 Designing the Business Model
  • 11.3 Conducting a Feasibility Analysis
  • 12.1 Building and Connecting to Networks
  • 12.2 Building the Entrepreneurial Dream Team
  • 12.3 Designing a Startup Operational Plan
  • 13.1 Business Structures: Overview of Legal and Tax Considerations
  • 13.2 Corporations
  • 13.3 Partnerships and Joint Ventures
  • 13.4 Limited Liability Companies
  • 13.5 Sole Proprietorships
  • 13.6 Additional Considerations: Capital Acquisition, Business Domicile, and Technology
  • 13.7 Mitigating and Managing Risks
  • 14.1 Types of Resources
  • 14.2 Using the PEST Framework to Assess Resource Needs
  • 14.3 Managing Resources over the Venture Life Cycle
  • 15.1 Launching Your Venture
  • 15.2 Making Difficult Business Decisions in Response to Challenges
  • 15.3 Seeking Help or Support
  • 15.4 Now What? Serving as a Mentor, Consultant, or Champion
  • 15.5 Reflections: Documenting the Journey
  • A | Suggested Resources

Learning Objectives

By the end of this section, you will be able to:

  • Describe the different purposes of a business plan
  • Describe and develop the components of a brief business plan
  • Describe and develop the components of a full business plan

Unlike the brief or lean formats introduced so far, the business plan is a formal document used for the long-range planning of a company’s operation. It typically includes background information, financial information, and a summary of the business. Investors nearly always request a formal business plan because it is an integral part of their evaluation of whether to invest in a company. Although nothing in business is permanent, a business plan typically has components that are more “set in stone” than a business model canvas , which is more commonly used as a first step in the planning process and throughout the early stages of a nascent business. A business plan is likely to describe the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives. An in-depth formal business plan would follow at later stages after various iterations to business model canvases. The business plan usually projects financial data over a three-year period and is typically required by banks or other investors to secure funding. The business plan is a roadmap for the company to follow over multiple years.

Some entrepreneurs prefer to use the canvas process instead of the business plan, whereas others use a shorter version of the business plan, submitting it to investors after several iterations. There are also entrepreneurs who use the business plan earlier in the entrepreneurial process, either preceding or concurrently with a canvas. For instance, Chris Guillebeau has a one-page business plan template in his book The $100 Startup . 48 His version is basically an extension of a napkin sketch without the detail of a full business plan. As you progress, you can also consider a brief business plan (about two pages)—if you want to support a rapid business launch—and/or a standard business plan.

As with many aspects of entrepreneurship, there are no clear hard and fast rules to achieving entrepreneurial success. You may encounter different people who want different things (canvas, summary, full business plan), and you also have flexibility in following whatever tool works best for you. Like the canvas, the various versions of the business plan are tools that will aid you in your entrepreneurial endeavor.

Business Plan Overview

Most business plans have several distinct sections ( Figure 11.16 ). The business plan can range from a few pages to twenty-five pages or more, depending on the purpose and the intended audience. For our discussion, we’ll describe a brief business plan and a standard business plan. If you are able to successfully design a business model canvas, then you will have the structure for developing a clear business plan that you can submit for financial consideration.

Both types of business plans aim at providing a picture and roadmap to follow from conception to creation. If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept.

The full business plan is aimed at executing the vision concept, dealing with the proverbial devil in the details. Developing a full business plan will assist those of you who need a more detailed and structured roadmap, or those of you with little to no background in business. The business planning process includes the business model, a feasibility analysis, and a full business plan, which we will discuss later in this section. Next, we explore how a business plan can meet several different needs.

Purposes of a Business Plan

A business plan can serve many different purposes—some internal, others external. As we discussed previously, you can use a business plan as an internal early planning device, an extension of a napkin sketch, and as a follow-up to one of the canvas tools. A business plan can be an organizational roadmap , that is, an internal planning tool and working plan that you can apply to your business in order to reach your desired goals over the course of several years. The business plan should be written by the owners of the venture, since it forces a firsthand examination of the business operations and allows them to focus on areas that need improvement.

Refer to the business venture throughout the document. Generally speaking, a business plan should not be written in the first person.

A major external purpose for the business plan is as an investment tool that outlines financial projections, becoming a document designed to attract investors. In many instances, a business plan can complement a formal investor’s pitch. In this context, the business plan is a presentation plan, intended for an outside audience that may or may not be familiar with your industry, your business, and your competitors.

You can also use your business plan as a contingency plan by outlining some “what-if” scenarios and exploring how you might respond if these scenarios unfold. Pretty Young Professional launched in November 2010 as an online resource to guide an emerging generation of female leaders. The site focused on recent female college graduates and current students searching for professional roles and those in their first professional roles. It was founded by four friends who were coworkers at the global consultancy firm McKinsey. But after positions and equity were decided among them, fundamental differences of opinion about the direction of the business emerged between two factions, according to the cofounder and former CEO Kathryn Minshew . “I think, naively, we assumed that if we kicked the can down the road on some of those things, we’d be able to sort them out,” Minshew said. Minshew went on to found a different professional site, The Muse , and took much of the editorial team of Pretty Young Professional with her. 49 Whereas greater planning potentially could have prevented the early demise of Pretty Young Professional, a change in planning led to overnight success for Joshua Esnard and The Cut Buddy team. Esnard invented and patented the plastic hair template that he was selling online out of his Fort Lauderdale garage while working a full-time job at Broward College and running a side business. Esnard had hundreds of boxes of Cut Buddies sitting in his home when he changed his marketing plan to enlist companies specializing in making videos go viral. It worked so well that a promotional video for the product garnered 8 million views in hours. The Cut Buddy sold over 4,000 products in a few hours when Esnard only had hundreds remaining. Demand greatly exceeded his supply, so Esnard had to scramble to increase manufacturing and offered customers two-for-one deals to make up for delays. This led to selling 55,000 units, generating $700,000 in sales in 2017. 50 After appearing on Shark Tank and landing a deal with Daymond John that gave the “shark” a 20-percent equity stake in return for $300,000, The Cut Buddy has added new distribution channels to include retail sales along with online commerce. Changing one aspect of a business plan—the marketing plan—yielded success for The Cut Buddy.

Link to Learning

Watch this video of Cut Buddy’s founder, Joshua Esnard, telling his company’s story to learn more.

If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept. This version is used to interest potential investors, employees, and other stakeholders, and will include a financial summary “box,” but it must have a disclaimer, and the founder/entrepreneur may need to have the people who receive it sign a nondisclosure agreement (NDA) . The full business plan is aimed at executing the vision concept, providing supporting details, and would be required by financial institutions and others as they formally become stakeholders in the venture. Both are aimed at providing a picture and roadmap to go from conception to creation.

Types of Business Plans

The brief business plan is similar to an extended executive summary from the full business plan. This concise document provides a broad overview of your entrepreneurial concept, your team members, how and why you will execute on your plans, and why you are the ones to do so. You can think of a brief business plan as a scene setter or—since we began this chapter with a film reference—as a trailer to the full movie. The brief business plan is the commercial equivalent to a trailer for Field of Dreams , whereas the full plan is the full-length movie equivalent.

Brief Business Plan or Executive Summary

As the name implies, the brief business plan or executive summary summarizes key elements of the entire business plan, such as the business concept, financial features, and current business position. The executive summary version of the business plan is your opportunity to broadly articulate the overall concept and vision of the company for yourself, for prospective investors, and for current and future employees.

A typical executive summary is generally no longer than a page, but because the brief business plan is essentially an extended executive summary, the executive summary section is vital. This is the “ask” to an investor. You should begin by clearly stating what you are asking for in the summary.

In the business concept phase, you’ll describe the business, its product, and its markets. Describe the customer segment it serves and why your company will hold a competitive advantage. This section may align roughly with the customer segments and value-proposition segments of a canvas.

Next, highlight the important financial features, including sales, profits, cash flows, and return on investment. Like the financial portion of a feasibility analysis, the financial analysis component of a business plan may typically include items like a twelve-month profit and loss projection, a three- or four-year profit and loss projection, a cash-flow projection, a projected balance sheet, and a breakeven calculation. You can explore a feasibility study and financial projections in more depth in the formal business plan. Here, you want to focus on the big picture of your numbers and what they mean.

The current business position section can furnish relevant information about you and your team members and the company at large. This is your opportunity to tell the story of how you formed the company, to describe its legal status (form of operation), and to list the principal players. In one part of the extended executive summary, you can cover your reasons for starting the business: Here is an opportunity to clearly define the needs you think you can meet and perhaps get into the pains and gains of customers. You also can provide a summary of the overall strategic direction in which you intend to take the company. Describe the company’s mission, vision, goals and objectives, overall business model, and value proposition.

Rice University’s Student Business Plan Competition, one of the largest and overall best-regarded graduate school business-plan competitions (see Telling Your Entrepreneurial Story and Pitching the Idea ), requires an executive summary of up to five pages to apply. 51 , 52 Its suggested sections are shown in Table 11.2 .

Are You Ready?

Create a brief business plan.

Fill out a canvas of your choosing for a well-known startup: Uber, Netflix, Dropbox, Etsy, Airbnb, Bird/Lime, Warby Parker, or any of the companies featured throughout this chapter or one of your choice. Then create a brief business plan for that business. See if you can find a version of the company’s actual executive summary, business plan, or canvas. Compare and contrast your vision with what the company has articulated.

  • These companies are well established but is there a component of what you charted that you would advise the company to change to ensure future viability?
  • Map out a contingency plan for a “what-if” scenario if one key aspect of the company or the environment it operates in were drastically is altered?

Full Business Plan

Even full business plans can vary in length, scale, and scope. Rice University sets a ten-page cap on business plans submitted for the full competition. The IndUS Entrepreneurs , one of the largest global networks of entrepreneurs, also holds business plan competitions for students through its Tie Young Entrepreneurs program. In contrast, business plans submitted for that competition can usually be up to twenty-five pages. These are just two examples. Some components may differ slightly; common elements are typically found in a formal business plan outline. The next section will provide sample components of a full business plan for a fictional business.

Executive Summary

The executive summary should provide an overview of your business with key points and issues. Because the summary is intended to summarize the entire document, it is most helpful to write this section last, even though it comes first in sequence. The writing in this section should be especially concise. Readers should be able to understand your needs and capabilities at first glance. The section should tell the reader what you want and your “ask” should be explicitly stated in the summary.

Describe your business, its product or service, and the intended customers. Explain what will be sold, who it will be sold to, and what competitive advantages the business has. Table 11.3 shows a sample executive summary for the fictional company La Vida Lola.

Business Description

This section describes the industry, your product, and the business and success factors. It should provide a current outlook as well as future trends and developments. You also should address your company’s mission, vision, goals, and objectives. Summarize your overall strategic direction, your reasons for starting the business, a description of your products and services, your business model, and your company’s value proposition. Consider including the Standard Industrial Classification/North American Industry Classification System (SIC/NAICS) code to specify the industry and insure correct identification. The industry extends beyond where the business is located and operates, and should include national and global dynamics. Table 11.4 shows a sample business description for La Vida Lola.

Industry Analysis and Market Strategies

Here you should define your market in terms of size, structure, growth prospects, trends, and sales potential. You’ll want to include your TAM and forecast the SAM . (Both these terms are discussed in Conducting a Feasibility Analysis .) This is a place to address market segmentation strategies by geography, customer attributes, or product orientation. Describe your positioning relative to your competitors’ in terms of pricing, distribution, promotion plan, and sales potential. Table 11.5 shows an example industry analysis and market strategy for La Vida Lola.

Competitive Analysis

The competitive analysis is a statement of the business strategy as it relates to the competition. You want to be able to identify who are your major competitors and assess what are their market shares, markets served, strategies employed, and expected response to entry? You likely want to conduct a classic SWOT analysis (Strengths Weaknesses Opportunities Threats) and complete a competitive-strength grid or competitive matrix. Outline your company’s competitive strengths relative to those of the competition in regard to product, distribution, pricing, promotion, and advertising. What are your company’s competitive advantages and their likely impacts on its success? The key is to construct it properly for the relevant features/benefits (by weight, according to customers) and how the startup compares to incumbents. The competitive matrix should show clearly how and why the startup has a clear (if not currently measurable) competitive advantage. Some common features in the example include price, benefits, quality, type of features, locations, and distribution/sales. Sample templates are shown in Figure 11.17 and Figure 11.18 . A competitive analysis helps you create a marketing strategy that will identify assets or skills that your competitors are lacking so you can plan to fill those gaps, giving you a distinct competitive advantage. When creating a competitor analysis, it is important to focus on the key features and elements that matter to customers, rather than focusing too heavily on the entrepreneur’s idea and desires.

Operations and Management Plan

In this section, outline how you will manage your company. Describe its organizational structure. Here you can address the form of ownership and, if warranted, include an organizational chart/structure. Highlight the backgrounds, experiences, qualifications, areas of expertise, and roles of members of the management team. This is also the place to mention any other stakeholders, such as a board of directors or advisory board(s), and their relevant relationship to the founder, experience and value to help make the venture successful, and professional service firms providing management support, such as accounting services and legal counsel.

Table 11.6 shows a sample operations and management plan for La Vida Lola.

Marketing Plan

Here you should outline and describe an effective overall marketing strategy for your venture, providing details regarding pricing, promotion, advertising, distribution, media usage, public relations, and a digital presence. Fully describe your sales management plan and the composition of your sales force, along with a comprehensive and detailed budget for the marketing plan. Table 11.7 shows a sample marketing plan for La Vida Lola.

Financial Plan

A financial plan seeks to forecast revenue and expenses; project a financial narrative; and estimate project costs, valuations, and cash flow projections. This section should present an accurate, realistic, and achievable financial plan for your venture (see Entrepreneurial Finance and Accounting for detailed discussions about conducting these projections). Include sales forecasts and income projections, pro forma financial statements ( Building the Entrepreneurial Dream Team , a breakeven analysis, and a capital budget. Identify your possible sources of financing (discussed in Conducting a Feasibility Analysis ). Figure 11.19 shows a template of cash-flow needs for La Vida Lola.

Entrepreneur In Action

Laughing man coffee.

Hugh Jackman ( Figure 11.20 ) may best be known for portraying a comic-book superhero who used his mutant abilities to protect the world from villains. But the Wolverine actor is also working to make the planet a better place for real, not through adamantium claws but through social entrepreneurship.

A love of java jolted Jackman into action in 2009, when he traveled to Ethiopia with a Christian humanitarian group to shoot a documentary about the impact of fair-trade certification on coffee growers there. He decided to launch a business and follow in the footsteps of the late Paul Newman, another famous actor turned philanthropist via food ventures.

Jackman launched Laughing Man Coffee two years later; he sold the line to Keurig in 2015. One Laughing Man Coffee café in New York continues to operate independently, investing its proceeds into charitable programs that support better housing, health, and educational initiatives within fair-trade farming communities. 55 Although the New York location is the only café, the coffee brand is still distributed, with Keurig donating an undisclosed portion of Laughing Man proceeds to those causes (whereas Jackman donates all his profits). The company initially donated its profits to World Vision, the Christian humanitarian group Jackman accompanied in 2009. In 2017, it created the Laughing Man Foundation to be more active with its money management and distribution.

  • You be the entrepreneur. If you were Jackman, would you have sold the company to Keurig? Why or why not?
  • Would you have started the Laughing Man Foundation?
  • What else can Jackman do to aid fair-trade practices for coffee growers?

What Can You Do?

Textbooks for change.

Founded in 2014, Textbooks for Change uses a cross-compensation model, in which one customer segment pays for a product or service, and the profit from that revenue is used to provide the same product or service to another, underserved segment. Textbooks for Change partners with student organizations to collect used college textbooks, some of which are re-sold while others are donated to students in need at underserved universities across the globe. The organization has reused or recycled 250,000 textbooks, providing 220,000 students with access through seven campus partners in East Africa. This B-corp social enterprise tackles a problem and offers a solution that is directly relevant to college students like yourself. Have you observed a problem on your college campus or other campuses that is not being served properly? Could it result in a social enterprise?

Work It Out

Franchisee set out.

A franchisee of East Coast Wings, a chain with dozens of restaurants in the United States, has decided to part ways with the chain. The new store will feature the same basic sports-bar-and-restaurant concept and serve the same basic foods: chicken wings, burgers, sandwiches, and the like. The new restaurant can’t rely on the same distributors and suppliers. A new business plan is needed.

  • What steps should the new restaurant take to create a new business plan?
  • Should it attempt to serve the same customers? Why or why not?

This New York Times video, “An Unlikely Business Plan,” describes entrepreneurial resurgence in Detroit, Michigan.

  • 48 Chris Guillebeau. The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future . New York: Crown Business/Random House, 2012.
  • 49 Jonathan Chan. “What These 4 Startup Case Studies Can Teach You about Failure.” Foundr.com . July 12, 2015. https://foundr.com/4-startup-case-studies-failure/
  • 50 Amy Feldman. “Inventor of the Cut Buddy Paid YouTubers to Spark Sales. He Wasn’t Ready for a Video to Go Viral.” Forbes. February 15, 2017. https://www.forbes.com/sites/forbestreptalks/2017/02/15/inventor-of-the-cut-buddy-paid-youtubers-to-spark-sales-he-wasnt-ready-for-a-video-to-go-viral/#3eb540ce798a
  • 51 Jennifer Post. “National Business Plan Competitions for Entrepreneurs.” Business News Daily . August 30, 2018. https://www.businessnewsdaily.com/6902-business-plan-competitions-entrepreneurs.html
  • 52 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition . March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf
  • 53 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition. March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf; Based on 2019 RBPC Competition Rules and Format April 4–6, 2019. https://rbpc.rice.edu/sites/g/files/bxs806/f/2019-RBPC-Competition-Rules%20-Format.pdf
  • 54 Foodstart. http://foodstart.com
  • 55 “Hugh Jackman Journey to Starting a Social Enterprise Coffee Company.” Giving Compass. April 8, 2018. https://givingcompass.org/article/hugh-jackman-journey-to-starting-a-social-enterprise-coffee-company/

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  • Authors: Michael Laverty, Chris Littel
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  • Book title: Entrepreneurship
  • Publication date: Jan 16, 2020
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ProfitableVenture

Group Home Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Healthcare and Medical » Group Home

Running a Group Home for Seniors

Are you about starting a group home for elderly people ? If YES, here is a complete sample group home business plan template & feasibility study you can use for FREE .

If you have a passion for taking care of those who can’t take care of themselves, then you may want to consider starting a group home business.

This is one trade that is humanitarian based, but yet can put good food on the table. This is also a thriving industry because every day more and more people get incapacitated one way or the other.

Starting this business will to a large extent require that you do all the research that is required to be done. This is so that you are armed with ample information as you set out in the trade.

Also, you will need to write a business plan. Business plans are like road maps, that tell where a business is headed for, based on projections.

A Sample Group Home Business Plan Template

1. industry overview.

When it comes to caring for people who can’t take care of themselves, there are several options and one of them is to take them to group homes.

In general, a group home is a private residence for the elderly, children or young people who cannot live with their families due to obvious reasons, or people with chronic disabilities who may be adults or seniors and can’t take proper care of themselves if left to live alone.

Basically, the term group home referred to homes from 8 to 16 individuals, which was a state-mandated size during deinstitutionalization.

Before a group home can commence operations, there should be at least six residents and at least one trained caregiver there 24 hours a day. So also a standard group home is expected to have a house manager , night manager, weekend activity coordinator, and 4 part-time skill teachers were reported.

It is important to state that residents of group homes usually have one form of disability or the other. It could be autism, intellectual disability, chronic or long-term mental/psychiatric disorder, or physical or even multiple disabilities.

Some group homes were funded as transitional homes to prepare for independent living (in an apartment or return to family or marriage and employment), and others were viewed as permanent community homes. Society may prevent people with significant needs from living in local communities with social acceptance key to community development.

The residents of group homes sometimes need continual or supported assistance in order for them to be able to complete daily basic and simple tasks, such as:

Taking medication or bathing, making dinners, having conversations, making appointments, and getting to work or a day service, budget their personal allowance, select photos for their room or album, meet neighbors and “carry out civic duties,” go grocery shopping, eat in restaurants, make emergency calls or inquiries, and exercise regularly amongst other activities.

Going by the data published by the US Census Bureau, the regions that account for the largest share of establishments in the industry are the Southeast (23.9% of total establishments), Great Lakes (17.3%), West (12.9%) and Mid-Atlantic (12.7%) regions.

This data basically reflects the age distribution in the united states. So also the data shows that employment in this industry is also concentrated in the Southeast, the Mid-Atlantic and the Great Lakes regions. The largest states in terms of employment are New York, California, Texas, Ohio and Florida.

The Nursing Care Facility industry of which group home is a subset of is indeed a very large industry and pretty much thriving in developed countries such as United States of America, Canada, United Kingdom, Germany, Australia and Italy et al.

Statistics has it that in the United States of America alone, there are about 24,115 licensed and registered Nursing Home Facilities responsible for employing about 1,775,943 employees and the industry rakes in a whopping sum of $132bn annually with an annual growth rate projected at 2.3% percent. It is important to state that there is no company with dominant market share in this industry.

Over and above, the Nursing Care Facility / Group Home line of businesses in developed countries are still enjoying good patronage particularly if they are well positioned and if they know how to reach out to their target market; the aging population and those who with disabilities.

2. Executive Summary

Grace & Mercy Group Home, LLC is a standard and licensed group home facility that will be located in the heart of Saint Augustine – Florida in a neatly renovated and secured housing facility.

Our group home is specifically designed and equipped with the needed accommodation facilities / gadgets to give comfort and security to all our residence irrespective of the religious affiliations, their race, and health condition. We are set to take care of people with one form of disability or the other whether old or young.

Grace & Mercy Group Home, LLC is a family owned and managed business that believe in the passionate pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to venture into the hospitality industry by establishing our own assisted living facility business.

We are certain that our values will help us drive the business to enviable heights and also help us attract the numbers of clients that will make our facility fully occupied year in year out.

We are going to be a health conscious and customer-centric group home business with a service culture that will be deeply rooted in the fabric of our organizational structure and indeed at all levels of the organization. With that, we know that we will be enables to consistently achieve our set business goals, increase our profitability and reinforce our positive long-term relationships with our clientele, partners (vendors), and all our employees as well.

Our accommodation facility will be decorated in an exquisite and elegant facade, so much so that it will be a conspicuous edifice in the city where it is located. Grace & Mercy Group Home, LLC will provide a conducive home for our residence.

We will engage in services that will help our residence complete daily basic and simple tasks, such as taking medication or bathing, making dinners, having conversations, making appointments, and getting to work or a day service, budget their personal allowance, select photos for their room or album, meet neighbors and “carry out civic duties,” go grocery shopping, eat in restaurants, make emergency calls or inquiries, and exercise regularly amongst other activities.

Grace & Mercy Group Home, LLC will be equipped with everything that will make life comfortable for the disabled and elderly.

We will as build a fitness room and library et al. We will also install a free Wi-Fi that will enable our residence and guests surf the internet with their laptop in the room free of charge, and there will be wireless access in all the public area within the lodging facility.

Grace & Mercy Group Home, LLC is a family business that is owned and managed by Mrs. Grace Smith and her family. Mrs. Grace Smith is a licensed Group Home Administrator, nurse and social health worker with well over 25 years of experience working for leading brand in the industry.

She has a Master’s Degree in Public Health and she is truly passionate when it comes to taking care of people with disabilities.

3. Our Products and Services

Grace & Mercy Group Home, LLC is set to operate a standard Group Home service in Saint Augustine – Florida. The fact that we want to become a force to reckon with in the Nursing Care Facility industry means that we will provide our resident a conducive and highly secured accommodation.

In all that we do, we will ensure that our customers are satisfied and are willing to recommend our facility to their family members and friends. We are in the group home business to deliver excellent services and to make profits and we are willing to go the extra mile within the law of the United States to achieve our business goals, aims and objectives.

Grace & Mercy Group Home, LLC will provide a conducive home for our residence; we will engage in services that will help our residence complete daily basic and simple tasks, such as:

4. Our Mission and Vision Statement

  • Our vision is to become the number one choice when it comes to group home service delivery in the whole of Florida and also to be amongst the top 20 group home service provider in the United States of America within the next 10 years.
  • Grace & Mercy Group Home, LLC is in business to establish a first class group home facility service that will take care of both the elderly and young disable as long as they can afford our services. We want to become one of the leaders in nursing care facility industry in Florida, and in The United States of America.

Our Business Structure

Grace & Mercy Group Home, LLC is a business that will be built on a solid foundation. From the outset, we have decided to recruit only qualified professionals (nurses, nurse’s aides, medication management counselors, physical therapists, county aging workers, and rehabilitation counselors, home health caregivers and home caregivers) to man various job positions in our organization.

We are quite aware of the rules and regulations governing the nursing care facility industry which is why we decided to recruit only well experienced and qualified employees as foundational staff of the organization. We hope to leverage on their expertise to build our business brand to be well accepted in Florida and the whole of the United States.

When hiring, we will look out for applicants that are not just qualified and experienced, but homely, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more. These are the positions that will be available at Grace & Mercy Group Home, LLC;

  • Chief Executive Officer

Medication Management Counselors

  • Assisted Living Administrator (Human Resources and Admin Manager)
  • Nurse’s Aides
  • Home Health Caregivers / Home Caregivers /County Aging Workers
  • Sales and Marketing Executive
  • Accounting Officer

5. Job Roles and Responsibilities

Chief Executive Officer:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Reports to the board.

Group Home Administrator (Admin and HR Manager)

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Designs job descriptions with KPI to drive performance management for clients
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defines job positions for recruitment and managing interviewing process
  • Carries out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Oversees the smooth running of the daily home activities.
  • Responsible for providing professional medical services to our residence
  • Responsible for ensuring that disable and elderly people under our care takes their medication as at when due
  • Responsible for handling medical emergencies

Nurses / Nurse’s Aides / Mental Health Counselors

  • Responsible for managing our patients in their various houses
  • Handles personal injury case management
  • Responsible for offering home medication management services

Marketing and Sales Executive

  • Identifies, prioritizes, and reaches out to new clients, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects.
  • Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Documents all customer contact and information
  • Represents Grace & Mercy Group Home, LLC in strategic meetings
  • Helps to increase sales and growth for Grace & Mercy Group Home, LLC.

Accountant / Cashier

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for the organization
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for Grace & Mercy Group Home, LLC
  • Serves as internal auditor for Grace & Mercy Group Home, LLC.
  • Responsible for cleaning the facility at all times
  • Ensures that toiletries and supplies don’t run out of stock
  • Assists our residence when they need to take their bath and carry out other household tasks
  • Cleans both the interior and exterior of the facility
  • Handles any other duty as assigned by the facility manager

6. SWOT Analysis

Grace & Mercy Group Home, LLC is set to become one of the leading group home facility in Florida which is why we are willing to take our time to cross every ‘Ts’ and dot every ‘Is’ as it relates to our business. We want our group home business to be the number one choice of all residence of Saint Augustine and other cities in Florida.

We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process in setting up the business.

Even though our Chief Executive Officer (owner) has a robust experience in social work and taking care of people with disability and the aging population, we still went ahead to hire the services of business consultants who are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support in helping us structure our business to indeed become a leader in the assisted living facility industry.

This is the summary of the SWOT analysis that was conducted for Grace & Mercy Group Home, LLC;

Our strength lies in the fact that we have a team of well qualified professionals manning various job positions in our organization.

As a matter of fact, they are some of the best hands in the whole of Saint Augustine, Florida. Our location, the Business model we will be operating on, well equipped facility and our excellent customer service culture will definitely count as a strong strength for us.

Grace & Mercy Group Home, LLC is a new business which is owned by an individual (family), and we may not have the financial muscle to sustain the kind of publicity we want to give our business and also to attract some of the highly experienced hands in the nursing care facility industry.

  • Opportunities:

The opportunities that are available to group home facilities are unlimited considering the fact that we have growing aging population and people with one form of disability or the other in the United States and we are going to position our business to make the best out of the opportunities that will be available to us in Saint Augustine – Florida.

Just like any other business, one of the major threats that we are likely going to face is economic downturn and unfavorable government policies. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new and bigger / well established group home facility brand in same location where ours is located.

7. MARKET ANALYSIS

  • Market Trends

Because of the essential nature of services provided by nursing care facilities / group homes, the industry was able to grow even in the face of economic stagnation. In addition, the continued growth of the aging population and people with one form of disability or the other has stimulated demand for industry services.

Since the aging population is more prone to injury and illness, and therefore requires more assistance with daily activities, the larger share of senior adults has propelled demand for nursing care facilities. Despite favorable demographic trends, unsatisfactory government funding has hindered industry growth.

The trend in the industry is that players in the industry are now flexible enough to adjust their services and facilities to attract more knowledgeable and educated residents by incorporating more technology and adapting to new markets

Another trend in the industry is that, in order to make group home facilities more affordable for low income individuals, many states in the United States of America are enacting changes to the portion of Medicaid which can be applied to Group Home Facilities.

Before now, only individuals living in nursing homes were typically provided Medicaid assistance, but in recent time, there are now a growing number of states that have recognized the importance of offering Medicaid dollars to senior citizens living in Group Home Facilities.

No doubt the Nursing Care Facility industry will continue to grow and become more profitable because the aging baby-boomer generation in United States is expected to drive increasing demand for this specialized services and care.

8. Our Target Market

Grace & Mercy Group Home, LLC is in business to service the aging population and people with disabilities in Saint Augustine – Florida and other cities in Florida. We will ensure that we target both self – pay customers (who do not have Medicaid cover), and those who have Medicaid cover.

Generally, those who need the services of group home facilities are the aging population, people with one form of disabilities or the other and perhaps those who need daily help.

The fact that we are going to open our doors to a wide range of customers does not in any way stop us from abiding by the rules and regulations governing the nursing care facility industry in the United States. Our staff is well – trained to effectively service our customers and give them value for their monies. Our customers can be categorized into the following;

  • The aging population
  • People with one form of disability or the other (Both young and the elderly)
  • The aged who might suffer from severe joint pains and every other age categories who falls under the conditions listed by the physician.

Our Competitive Advantage

Aside from the competitions that exist amongst players in the nursing care facility industry, they also compete against other home healthcare services providers such as assisted living facilities.

To be highly competitive in the nursing care facility industry means that you should be able to secure a conducive and secured facility, deliver consistent quality patient service and should be able to meet the expectations of the children / family members paying for their loved elderly parents and people with disabilities in your facility.

Grace & Mercy Group Home, LLC is coming into the market well prepared to favorably compete in the industry. Our office facility is well positioned (centrally positioned) and visible, we have good security and the right ambience for elderly and disabled people.

Our staff is well groomed in all aspect of group home facility services and all our employees are trained to provide customized customer service to all our clients.

Our services will be carried out by highly trained professional nurse’s aides, medication management counselors, county aging workers, home health caregivers and home caregivers who know what it takes to give our highly esteemed customers value for their money.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups group home facility business and other related businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

  • Sources of Income

Grace & Mercy Group Home, LLC will ensure that we do all we can to maximize the business by generating income from every legal means within the scope of our industry.

We will generate income by providing a conducive home for our residence; we will engage in services that will help our residence complete daily basic and simple tasks, such as:

10. Sales Forecast

One thing is certain; there would always be elderly people and people with disabilities who would need the services of group home facility.

We are well positioned to take on the available market in Saint Augustine – Florida and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our group home facility business and our residences base.

We have been able to critically examine the group home services market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in Saint Augustine – Florida.

Below is the sales projection for Grace & Mercy Group Home, LLC, it is based on the location of our business and of course the wide range of related services that we will be offering;

  • First Year-: $100,000 ( From Self – Pay Clients ): $250,000 ( From Medicaid Covers )
  • Second Year-: $250,000 ( From Self – Pay Clients ): $500,000 ( From Medicaid Covers )
  • Third Year-: $500,000 ( From Self – Pay Clients ): $1,500,000 ( From Medicaid Cover )

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

The marketing and sales strategy of Grace & Mercy Group Home, LLC will be based on generating long-term personalized relationships with our residence. In order to achieve that, we will ensure that we offer top notch all – round nursing care facility services at affordable prices compare to what is obtainable in Florida.

All our employees will be well trained and equipped to provide excellent and knowledgeable nursing care facility services and customer service.

We know that if we are consistent with offering high quality nursing care facility service delivery and excellent customer service, we will increase the number of our customers by more than 25 percent for the first year and then more than 40 percent subsequently.

Before choosing a location for Grace & Mercy Group Home, LLC, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Saint Augustine and other cities in Florida.

We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time. We hired experts who have good understanding of the nursing care facility industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Florida.

In summary, Grace & Mercy Group Home, LLC will adopt the following sales and marketing approach to win customers over;

  • Introduce our business by sending introductory letters to residence, clubs for elderly and people with disability and other stake holders in Florida
  • Advertise our business in community based newspapers, local TV and local radio stations
  • List our business on yellow pages ads (local directories)
  • Leverage on the internet to promote our business
  • Engage in direct marketing
  • Leverage on word of mouth marketing (referrals)
  • Enter into business partnership with hospitals, government agencies and health insurance companies.
  • Attend healthcare related exhibitions / expos.

11. Publicity and Advertising Strategy

We are in the group home facility business -to become one of the market leaders and also to maximize profits hence we are going to explore all available conventional and non – conventional means to promote Grace & Mercy Group Home, LLC.

Grace & Mercy Group Home, LLC has a long term plan of building group home facilities in key cities in the United States of America which is why we will deliberately build our brand to be well accepted in Saint Augustine – Florida before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the general public. Here are the platforms we intend leveraging on to promote and advertise Grace & Mercy Group Home, LLC;

  • Place adverts on both print (community based newspapers and magazines) and electronic media platforms
  • Sponsor relevant community health programs that appeals to the aging population
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
  • Install our BillBoards on strategic locations all around Saint Augustine – Florida.
  • Engage in road show from time to time in location with growing aging population
  • Distribute our fliers and handbills in target areas with high concentration of aging population and people with disabilities
  • Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.

12. Our Pricing Strategy

We are aware that for us to gain more grounds, we will need to enter the market with a very competitive price. Grace & Mercy Group Home, LLC will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in The United States of America.

On the average, group home facility service providers usually leverage on the fact that a good number of their clients do not pay the service charge from their pockets; private insurance companies, Medicare and Medicaid are responsible for the payment.

In view of that, it is easier for group home facility service providers to bill their clients based in their discretions. Be that as it may, we have put plans in place to offer discount services once in a while and also to reward our loyal customers especially when they refer clients to us.

  • Payment Options

At Grace & Mercy Group Home, LLC, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;

  • Payment by cash
  • Payment via Point of Sale (POS) Machine
  • Payment via online bank transfer (online payment portal)
  • Payment via Mobile money
  • Check (only from loyal customers)

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches.

13. Startup Expenditure (Budget)

If you are looking towards starting a nursing care facility business, then you should be ready to go all out to ensure that you raise enough capital to cover some of the basic expenditure that you are going to incur. The truth is that starting this type of business does not come cheap.

You would need money to secure a standard residential facility big enough to accommodate the number of people you plan accommodating per time, you could need money to acquire medical equipment and supply and you would need money to pay your workforce and pay bills for a while until the revenue you generate from the business becomes enough to pay them.

The items listed below are the basics that we would need when starting our assisted living facility business in the United States;

  • The Total Fee for Registering the Business in the United States – $750.
  • Legal expenses for obtaining licenses and permits – $1,500.
  • Marketing promotion expenses for the grand opening of Grace & Mercy Group Home, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
  • Cost for hiring Consultant – $2,500.
  • Cost for Computer Software (Accounting Software, Payroll Software, CRM Software, Microsoft Office, QuickBooks Pro, drug interaction software, Physician Desk Reference software) – $7,000
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $3,400.
  • Cost for leasing a standard and secured facility in Saint Augustine – Florida for 2 years – $500,000
  • Cost for facility remodeling – $20,000.
  • Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
  • The cost for Start-up inventory (stocking with a wide range of products such as toiletries, food stuffs and drugs et al) – $50,000
  • Storage hardware (bins, rack, shelves,) – $3,720
  • The cost for the purchase of furniture and gadgets (Beds, Computers, Printers, Telephone, TVs, tables and chairs et al): $4,000.
  • The cost of Launching a Website: $700
  • Miscellaneous: $10,000

We would need an estimate of $750,000 to successfully set up our group home facility in Saint Augustine – Florida. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funding / Startup Capital for Grace & Mercy Group Home, LLC

Grace & Mercy Group Home, LLC is a family business that is solely owned and financed by Mrs. Grace Smith and her family. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas Grace & Mercy Group Home, LLC intends to generate our start – up capital;

  • Generate part of the start – up capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $550,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Grace & Mercy Group Home, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our group home services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Grace & Mercy Group Home, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Leasing of facility and remodeling the facility: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of Medical Equipment and vans et al: In Progress
  • Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party / launching party planning: In Progress

Frequently Asked Questions

Are you qualified to run a group home.

To qualify to run and manage a group home, you need a master’s or bachelor’s degree in social work, public health, or a similar field. In addition, you will need certain skills like excellent communication, time management, and leadership skills.

2. What Is A Youth Group Home?

Youth group home is a group home that provides therapy, 24-hour supervision and support to troubled teens in a home-like setting. Unlike large residential treatment facilities or psychiatric hospitals, youth group homes serve a small number of teens.

They reside in a family-like setting with trained staff. These group homes may house youths with physical disabilities, mental disabilities, emotional problems or those in transition between foster homes.

3. Who Qualifies You To Live In A Group Home?

Residents of group homes tend to have some type of chronic mental disorder that impairs their ability to live independently. Note that many group home residents also have physical disabilities such as impairments of vision or ambulation.

These individuals require continual assistance to complete daily living and self-care tasks. Some also require supervision due to behaviour that may be dangerous to self or others, such as aggression or a tendency to run away.

4. What Certifications Are Needed To Open A Group Home?

  • CPR certification
  • Group Home Administrator 40 hour ICTP
  • Certified Occupational Health Nurse (COHN)
  • Informatics Nursing Certification (RN-BC)
  • Board-Certified Case Manager (CCM)
  • Certified Addictions Registered Nurse (CARN)
  • Local fire marshal’s certificate

5. What Is A Group Home For QRTP?

QRTP is a specific category of non-foster family home setting, for which public child welfare agencies are expected to meet detailed assessment, case planning, documentation, judicial determinations and ongoing review and permanency hearing requirements for a child to be placed in and continue to receive federal Title IV-E funding for the placement. QRTPs are a subset of licensed group care facilities; they do not wholly replace them.

6. How Do You Get Funding To Start A Group Home?

Group homes are licensed and monitored by state departments of human services, licensing offices or bureaus, and funding for their operations may come from different sources.

  • Microfinancing
  • Peer-to-Peer Lending
  • State and Federal Government Grants and Loans
  • Private Foundations

7. What Is Needed To Start A Home Day-Care?

  • Adequate funding
  • A suitable location
  • Furniture and supplies
  • Child care safety equipment such as fire extinguishers, disaster supplies, etc
  • Child care software
  • Qualified staff
  • Policies and procedures

8. What Do You Need To Work In A Group Home?

To become a group home worker, you need a high school diploma or equivalent. However, some employers may require post-secondary education, such as an associate or bachelor’s degree in social work.

You will also need to acquire an internship at a group home to gain hands-on experience working with residents. Nonetheless, to be a good group home worker, you need lots of patience and empathy, and the perseverance to handle different physical, emotional, and behavioural issues.

9. How Do You Start A Group Home At Risk Youth?

Opening a group home at risk youth requires adhering to all licensing requirements and passing the inspection and application process. Nonetheless, the steps involved in opening a group home at risk youth include;

  • Research the current availability of group homes for teens in your community
  • Write a mission statement and a business plan
  • Appoint a board of directors
  • Find funding for your teen sanctuary
  • Apply for licensing, non-profit tax exemption, incorporation and other legal protections and sanctions your board recommends.
  • Buy an existing building and hire a contractor to refurbish the structure, or purchase property on which your group home will be built.
  • Solicit community help to build your teen group home so you can save money on construction.
  • Get occupancy permits and submit to inspections from village, city, township and/or county authorities.
  • Hire staff and conduct criminal background checks.
  • Keep a wait-list of clients to fill beds as residents’ age out, move out or leave.

10. What Qualifications Do You Need To Open A Care Home?

All 50 states require these professionals hold licensure, although requirements for receiving this requirement vary by state. Nonetheless, to qualify to open as a care home in the United States, you must:

  • be at least 21 years of age;
  • be of good moral character and suitability;
  • hold a Bachelor’s (or higher level) Degree from an accredited educational institution, including (or supplemented by) 15 credit hours of specific education;
  • complete an Administrator-In-Training (AIT) Program (Internship) OR qualifying field experience;
  • complete a course in nursing home administration;
  • Receive a passing score on the Nursing Home Administrator Licensing Examination.

11. What Is Your First Step?

The very step when looking to start a care home in the United States is to create a well detailed business plan that identifies the type of group home you would like to open. You need to make a business plan for your care agency because it is the base of your home and will be needed for each step you follow. A business plan includes the following:

  • Executive summary – Explain the basics of your care home.
  • Company description – Write the mission and goals of your care home.
  • Services – Describe what services you will be providing.
  • Marketing plan – How will people learn about your business? Decide the pricing of your business as well.
  • Management and organization – Describe the ownership structure of you care home business.
  • Operational plan – Explain the facility and staff, as well as supplies you will need to operate.
  • Financial plan – This is where you will write a cash flow projection, balance sheet snapshot and break-even analysis.

12. What Qualifications Must The Program Administrator Of The Group Home Possess?

Group home program administrators are responsible for planning, directing, and coordinating their group home program or service. Howbeit, the qualifications they are expected to posses include;

  • A Group Home Administrator Certificate
  • A Bachelor’s Degree in Behavioural or Social Sciences from an accredited school is required.
  • A Master’s Degree in Behavioural or Social Sciences is preferred.
  • One year experience in a residential setting
  • One year experience as a supervisor

13. How Much Does It Cost To Start A Group Home?

The amount you need will depend on many factors, but on the average, it will cost between $115,000 — $155,000.

14. How Profitable Is A Group Home?

A group home in the United States is quite profitable especially since demand from individuals aged 15 and under is expected to remain high because the majority of orphanages and group homes cater to children in this age bracket. Note that a properly retrofitted group home can reap $7,000, or more, per bed in revenue. And with 8 to 12 beds in a mansion setting, the rewards can be stunning.

15. How Do Group Homes Work?

The treatment provided in a group home tend to primarily focus on improving self-esteem, teaching new skills and holding residents accountable for their behaviour. Some group homes offer specialized treatment for specific issues, like autism, substance abuse, or inappropriate sexual behaviour. Most group home programs include:

  • Anger management
  • Drug education
  • Family therapy
  • Group therapy
  • Individual therapy
  • Individualized behaviour programs

16. What Does A Group Home Manager Do?

A group Home Manager directs operations in care facilities for the elderly or the disabled. Duties of a group home manager include overseeing daily operations, developing budgets, hiring and training staff, scheduling employees, and implementing programs for residents.

17. How Do You Start A Senior Living Home?

The following steps are how you can get started in the senior living industry.

  • Acquire Land or a Home
  • Contract a Real Estate Agent and Check Zoning Laws
  • Hire an Architect and Building Contractors
  • Apply for Permits
  • Hire the Right People
  • Secure the Necessary License
  • Purchase Furniture
  • Plan for Marketing and Advertising

18. Can You Turn Your Home Into An Assisted Living Facility?

Yes, you can  convert your home into an assisted living facility . However, you need to see the regulations in your state or city and apply them to the structure you are considering for conversion to an Assisted Living Facility.

19. How to Start a Group Home In California?

There are several agencies involved in the oversight of group homes in California. The processes to start a group home in California include;

  • Contact your local Regional Centre.
  • Attend a “Residential Services Training” through your Regional Centre
  • Develop a “program design” that shows how you can meet and fill the current needs of your local Regional Centre.
  • Attend an orientation at Community Care Licensing (CCL) for Adult Care, Child Care or Elderly Care.
  • Apply for a license
  • Apply for “Vendorization” through your local Regional Centre
  • Accept your first client from the placement packets and proudly open your Group Home.

20. How Do You Convert Your Home Into An Assisted Living Home?

Depending on your house, neighbourhood and state, it may not be possible to convert your house into an assisted living facility. If it is, the process and steps will include;

  • Check the zoning of your property with your city or county. Assisted living facilities are businesses and are typically not allowed in residential zones.
  • Research your state laws and regulations on assisted living facility licensing.
  • Understand the regulations on facility space, structural and safety requirements and compare them to your home.
  • Seek adequate financing to make physical changes to your home as well as to hire the clinical and support staff required under state law.
  • Hire a contractor with experience in assisted living facilities, skilled nursing facilities or other healthcare structures.
  • Apply to your state for licensure as an assisted living facility.
  • Hire or contract required staff which usually includes a nurse who visits a certain number of hours per week.

21. How To Start A Group Home In Michigan?

Here is how you can start a group home in Michigan;

  • Consult with a licensed group home institution and take notes on its current operating setup.
  • Meet the state requirements for group homes.
  • Hire competent staff
  • Create a building plan review and submit it to the Department of Energy, Labour and Economic Growth (DELEG) and the Bureau of Fire Services (BFS).
  • Apply for a local zoning approval to start a group home that fits seven or more clients
  • Apply for a group home license in Michigan

22. How To Start A Group Home In Ohio?

The Ohio Department of Job and Family Services (ODJFS) is responsible for providing guidelines for group homes, which must be licensed by ODJFS or an approved local entity. Here is how you can start a group home in Ohio;

  • Review your financial situation and determine if you can afford to purchase a house
  • Determine the location and house
  • Purchase the house
  • Develop a written emergency plan that outlines procedures for fires, evacuations, missing persons and severe weather
  • Sign and submit the application to the Ohio Department of Job and Family Services
  • Attend the onsite inspection
  • Hire the home staff

23. What Are The Steps To Start A Group Home In Kansas?

Here is how you can start a group home in Kansas;

  • Decide which kind of group home you would like to have in Kansas.
  • Choose the programs your group home is going to offer.
  • Decide on the exact location of your group home.
  • Decide on the number of occupants you’d like to have in your group home.
  • Make sure that you know the type of employees and the manpower you need to operate your group home.
  • Obtain a group home license from the Kansas Department of Health and Environment.
  • Research grants that would match your choice of business.

24. How Many Group Homes Can You Open?

As a new entity, licensing agencies will be eager to see how you succeed with one program. Howbeit, when licensed, if the program is successful in its initial operation (a period of approximately 15-18 months), you may apply for a license for another facility.

25. How To Start A Group Home In Texas?

Here is how you can start a group home in Texas;

  • Register the type of group home you want based on the type of people you wish to help in your community.
  • Write a business plan that summarizes your vision, mission, business goals,  start-up and operating costs , marketing plan and expenses, financial projections and competitor analysis.
  • Buy, rent or lease a home or facility that is sufficient to house the number of people you want
  • Comply with local fire building codes and zoning regulations.
  • Contact the Texas Department of Aging and Disability Services (DADS) and Texas attorney general’s office.
  • Obtain the license to open the group home in Texas from DADS.
  • Register your business legal structure and business name with the Texas Secretary of State.
  • Obtain general liability insurance and business insurance
  • Hire employees who have a clean criminal background and a driver’s license.

26. Where Can You Get Information And Financial Help To Open A Foster Or Group Home?

Group homes are licensed and monitored by state departments of human services, licensing offices or bureaus, and funding for their operations may come from different sources. Note that contacting the local county child welfare agency is a first good step to learn about requirements and financing options concerning Foster or group homes.

Child Welfare Information Gateway, a service of the Children’s Bureau, Administration for Children and Families, also provides contact information for State Foster Care Program Managers and State Licensing Specialists on its website.

27. What Does A Residential Care Worker Do?

Residential care refers to personal care services given to children and adults unable to live independently. Responsible for providing these services are residential care workers, professionals who focus on improving the physical and mental well-being of their clients. The primary role of residential care workers is to provide physical care to patients who cannot perform day-to-day living tasks.

29. How Do You Start A Group Home For Special Needs Adults?

The necessary steps to take include;

  • Contact a Social Service agency such as the Department of Human Services (DHS) or a private charity such as Catholic Social Services or Lutheran Social Services.
  • Find housing that meets licensing and inspection requirements
  • Attend the workshop or other licensing sessions required for licensure.
  • Apply for grants and seek funding for your group home .
  • Evaluate your budget regularly, and make changes as needed.
  • Renew your license.

30. What Is The Difference Between A Group Home And A Residential Treatment Centre?

The key differences between a group home and residential treatment centre are the intensity of the treatment and environment where treatment is carried out in. Group homes consist of 24/7 monitoring, while residential treatment centres consist of monitoring, but not quite on a 24/7 intensity.

Another key difference between the two is the length of treatment. Note that most people that seek treatment for mental health issues are treated on an outpatient basis, in which they attend regular meetings – usually 2-3 times per week.

While group home treatment is usually short-term. Residential treatment has the potential to be ongoing – it all depends on how an individual responds to treatment.

31. What Is The Single Point Of Entry?

Single point of entry simply refers to a program from which a current or potential long-term care consumer can get long-term care information, screening, assessment of need, care planning, supports coordination, and referral to appropriate long-term care supports and services.

GOC is responsible for the coordination and oversight of the Single Point of Entry process. GOC staff conducts the Single Point of Entry Training and provides technical support to prospective residential child care program providers.

32. How Do You Start A Non-Medical Home Care Business?

To start a non-medical home care business, here are steps to consider;

  • Determine the Structure of Your Business.
  • Create a Business Entity and Meet Licensing Requirements.
  • Develop Your Policies and Procedures.
  • Set Up Your Financial Systems.
  • Recruit and Hire Office Staff.
  • Develop a Recruitment and Retention Plan for Caregivers.
  • Scheduling, Billing, and Time Keeping Systems.
  • Set Up Your Office.
  • Develop Your Sales and Marketing Plan
  • Measuring the Success of Your Business

33. What Do I Need To Ask Myself Before Starting The SPE Process?

The process of becoming licensed to operate a group home for children is not easy and will take a lot of time and energy on your part. You need to ask yourself:

  • Am I qualified to run a group home?
  • What experience do I have with the population I intend to serve?
  • What data/information do I have that indicates a program is needed in the area where I plan to locate?
  • Do I have the six months of financial resources the State recommends to start a new business? If I am dependent upon loans, will I have the resources to pay them back?
  • What is special about my program that will make it attractive to placement workers?
  • Do I have the business skills needed to run a small business? If not, whom can I depend upon to help me with the business side?
  • Do I have the management skills needed to run a program? If not, whom can I depend upon to help me with the program side of the business?

34. What Are The Benefits Of Transitional Housing?

Transitional housing  more or less describes a community project or program that provides temporary housing and support services for homeless people until they can find permanent solutions. Its benefits include;

  • Reduced Crime
  • Disease Prevention
  • Substance Abuse
  • Employment Assistance
  • Self Esteem

35. How To Start A Group Home In Florida?

The Steps to take include;

  • Decide what type of group home you would like to open and create a business plan
  • Find a location that will suit your group home needs
  • Consult with local agencies and  become a certified group home
  • Pass a safety inspection and take classes to become a foster parent if you would like a group home for children .
  • Apply with the local Florida area agencies if you wish to start a group home for disabled individuals.
  • Contact the Florida Department of Elder Affairs if you would like to run a group home for the elderly.

36. How Much Does It Cost To Build A Custom Home?

Custom homes cost anywhere from $350,000 to $1.5 million or more. Expect to pay $300 to $500 per square foot for custom and luxury builds. Custom homes come in almost any shape and size.

37. What Happens After I Attend A Single Point Of Entry Training?

After attending the SPE Training, you will be issued the SCYFIS (State Children, Youth and Families Information System) logon and a password needed to submit your proposal online.

38.  How Much Does A Group Home Owner Make A Year ?

Most group home owners really do not profit off of their group homes because it is about helping the residents or whoever occupies the group home. However, if you are running a group home to make money, you could get about 400 dollars a week per child from the state.

A lot of people do get the money but most of it is put back into the group home to pay the expenses of the occupants and the home itself. The expenses of the group home are mandatory if you want to keep your home from getting shut down or closed. But in a year a group home owner makes about $20,800 per child.

39. How Much Do Group Home Workers Get Paid?

According to the BLS, the median salary of a group home worker was $25,280 per year as of 2019, or $12.15 per hour. Also, job website PayScale notes that supervisory positions in group home jobs pay an average of $14.30 per hour, with salaries typically ranging from $11.13 to $18.75 per hour. Annualized, the average full time salary is $36,498, with a typical range between $28,000 and $50,000.

40. How Much Money Do You Need To Start An Assisted Living Facility?

An article by Forbes on assisted living facilities estimates the cost of an 80-bed facility at $11 million (or $130,000 to $145,000 per bed). Howbeit, ensure to add three to six months’ operating expenses to the budgeted start-up costs. The level of operating costs will depend on the type and size of the facility to be created.

41. What Happens After You Submit A Proposal To GOC?

Within 90 days of receiving it, GOC will put your proposal through rigorous examination. Note that after the review, you will either be required to submit additional information, or your proposal will be forwarded to the appropriate licensing agency.

If you are asked to submit additional information, you will be asked to submit it within 60 days of receipt of the letter or the State will consider your proposal withdrawn. The entire process – including the review of the proposal and any proposal revisions requested by GOC, and the process for acquiring a license by one of the licensing agencies – can take up to one year or longer. The length of time for the entire process will depend on the quality of your proposal submission.

42. What Experience Do You Need To Have For The Population You Intend To Serve?

  • Crisis Intervention
  • Independent Living
  • Personal Care
  • Other Skills like CPR and patient care

43. How Do You Start A Non-Profit Assisted Living Facility?

While all assisted living communities charge a fee to residents, non-profit facilities are different because any profit the facility makes after all expenses are paid goes back into that facility. No profits are taken by shareholders or anyone else. To start a non-profit assisted living facility, here are steps to consider;

  • Choose a name
  • Build, purchase or convert an existing facility for your new assisted living business.
  • File articles of incorporation
  • Apply for your IRS tax exemption
  • Apply for a state tax exemption
  • Draft bylaws
  • Appoint directors
  • Hold a meeting of the board
  • Obtain a specialized license as an assisted living business.
  • Obtain an operator’s license required by your state.

44. What Are Some Good Rules To Follow In Developing Your Proposed Program?

It is pertinent you consider your proposal as a business plan. Take time to think about your vision for your program. Your completed proposal should be a picture of what your program will look like and what it will take to operate it.

It should encompass every aspect of your business such as: description of your program, operational plan, description of staff and their duties and responsibilities, services offered, start-up budget and operational budget. Please be sure to read through your proposal thoroughly before submission.

45. How Many Youths May You Have In Your Program?

Have it in mind that several factors determine the maximum number of youths you may have in your program. These factors include the Fair Housing Act as amended in 1988; COMAR regulations, fire authority, and health and safety.

46. How Much Do Resident Managers Make?

As of Mar 17, 2022, the average annual pay for a Resident Manager in the United States is $40,250 a year. This equates to approximately $19.35 an hour, $774/week, and $3,354/month.

47. What Types Of Group Homes Are Licensed By DHR, DJS, And DHMH?

DHR Licenses the following types of group homes:

  • Independent Living Programs
  • Shelter Care
  • Regular Group Homes
  • Respite Care
  • Teen Mother Baby Programs
  • Treatment Foster Care

DJS Licenses the following types of group homes:

  • Secure Group Homes

DHMH Licenses the following types of group homes:

  • Residential facilities for children with developmental disabilities
  • Therapeutic Group Homes

48.  Is Owning An Assisted Living Facility Profitable ?

Yes, the senior care industry in the US has never looked more promising than it does now. Thanks to the mass retirement of baby boomers and massive leaps in healthcare technology, we are experiencing the largest population of older adults than ever before.

The US assisted living home market size was estimated at $73.6 billion in 2018, with a CAGR of 6.4% over the forecast period. Stable assisted living communities have a profit operating profit margin between 28 and 38% – though the margin decreases in facilities with a memory care component.

Note that a single-family home can generate $36,000 of gross profits and $10,000 of monthly cash flow. This value varies based on a range of aspects, like its size, location, and amenities.

49. Where Can You Find A List Of Homes That Are Designated As Residential Homes For Developmentally Disabled Individuals?

Group homes that serve persons with disabilities are regulated by the Agency for Persons with Disabilities. Group homes that serve children will be regulated by the Department of Children and Families. Meanwhile, certain group homes for the elderly may be licensed by the Agency for Health Care Administration. These agencies provide detailed lists of homes designated as residential homes for the population they cover.

50. Are Group Homes Non-Profit?

Group homes can be run either as a non-profit or a for-profit venture.

51. Can A Non-Profit Organization Own A Long-Term Care Facility?

No, nonprofit organizations cannot own long- term care facilities

52. How Much Profit Do Care Homes Make?

Non-medical home care rates currently range from $20 an hour to $40 per hour, depending on the location. Small towns and rural areas, where living costs are lower, are less, and big cities, where living costs are high, tend to be on the high side. Nonetheless, the national average is $27 per hour, which works out to $54,000 a year with a 40 hour work week.

53. How Long Does Your Proposal Have To Be?

Note that there is no limit on the length of your proposal. You will only have to follow the Proposal Outline and the COMAR regulations (14.31.06) when developing your proposal.

54. How Do You Start A Private Care Business?

Due to the aging of baby boomers and increased life expectancy, the number of senior citizens over the age of 65 is increasing every year. With that comes the increasing need for medical and personal care as well. This offers great business opportunities for entrepreneurs in the healthcare industry to start your own private care business, here are steps to consider.

  • Create a business plan.
  • Register with the state
  • Obtain Medicare and Medicaid certifications.
  • Hire great staff.
  • Get your clients.

55. Where Can You Find Classes For Assisted Living Training?

  • CareAcademy
  • American Caregivers Association
  • Family Caregiver Videos and Webinars
  • Video Experiences of Fellow Caregivers
  • Interactive Caregiver Courses and Videos

56. How Do AFC Homes Get Paid?

  • Social Security
  • State Based, Non-Medicaid Assistance Programs
  • Veterans’ Programs
  • Reverse Mortgages & Home Equity Options
  • Life Insurance Policies
  • Long Term Care Insurance

57. What Are Tips For Writing A Good Proposal?

  • Be clear, concise and logical.
  • Make it reader friendly.
  • Leave plenty of time to research the type of program you want to develop and whether that type of program is needed in the area you are considering.
  • Familiarize yourself with State regulations,  policies and procedures that will govern your program .
  • Use the SPE Proposal Outline as it will help you structure the information that is needed in the proposal.
  • Do not use jargon and contractions.
  • Do not rely heavily on acronyms.
  • Proofread, proofread, proofread.

58. How Does A Homeless Shelter Work?

A homeless shelter more or less starts with a group of individuals who intend to develop a plan to help people in the community who need shelter. It eventually grows into a plan to  put up a homeless shelter . Most homeless shelters are funded by sponsors such as hospitals, companies, professionals, and individuals. Among the programs provided by homeless shelters are:

  • Providing shelter
  • Distribution of basic necessities
  • Rehabilitation

59. What Is The HUD Septic System Distance Requirement?

According to HUD, a domestic well is expected to be located a minimum of 100 feet from the septic tanks drain field, where the waste is disposed, and a minimum of 10 feet from any property line. In some cases, state or local regulations have greater distance requirements which must be met.

60. How Much Does The Government Pay For Group Homes?

$400 a week per child from the state

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

Clifford Chi

Published: February 06, 2024

Free Business Plan Template

group 1 business plan

The essential document for starting a business -- custom built for your needs.

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

sample business plans and examples

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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.

group 1 business plan

  • Outline your idea.
  • Pitch to investors.
  • Secure funding.
  • Get to work!

You're all set!

Click this link to access this resource at any time.

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:

business plan sample: Executive Summary Example

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.

Business plans examples: Executive Summary

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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.

Business plans examples: Market Opportunity

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.

Business plans examples: Competitive Landscape

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.

Business plans examples: Target 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.

Business plans examples: Marketing Strategy

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.

Business plans examples: Key Features and Benefits

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.

Business plans examples: Pricing and Revenue

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.

Business plans examples: Financials

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

Sample business plan: hubspot free editable pdf

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

Sample Business Plan: LiveFLow

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

sample business plan: ThoughtCo.

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

sample business plan: Panda Doc

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

sample business plan: Small Business Administration

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

business plan example: 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

Business plan example: 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

business plan example: Vesta executive summary

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

business plan examples: 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)

business plan examples: curriculum companion suites

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

sample business plan: Culina

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

Sample business plan: Plum

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  • 15 GB of premium 5G/4G LTE data Unlimited 5G & 4G LTE data. After 15 GB premium data/line/month, data reduced to speeds up to 200 Kbps for the rest of the month. 5G access requires a 5G capable device. Not available for 5G Ultra Wideband access, mobile hotspot or machine to machine services. Domestic data roaming at 2G speeds. Additional terms apply.

Numbershare Smartwatch

Your connected smartwatch can use your mobile number

  • 22 GB of premium 5G/4G LTE data Unlimited 5G & 4G LTE data. After 22 GB premium data/line/month, data reduced to speeds up to 200 Kbps for the rest of the month. 5G access requires a 5G capable device. Not available for 5G Ultra Wideband access, mobile hotspot or machine to machine services. Domestic data roaming at 2G speeds. Customer must also subscribe to select smartphone data plan. Both smartphone & smartwatch plans must be part of same sub-account. Additional terms apply.

New plan + new device

Find the plan that fits your budget and business needs, then check out our devices page for the 
latest smartphones.

New plan + your own device

See if your device is compatible with our network, then get started.

What are the benefits of Verizon Business Unlimited 5G smartphone plans?

Verizon Business Unlimited 5G smartphone plans provide unlimited data, talk and text on Verizon’s 4G LTE and 5G networks. Plans also include access to Verizon’s business-class features, such as mobile hotspot data, call filtering, video streaming and mobile device management (available with select plans). Customers can choose from a variety of plans with different features to meet their business needs.

Can I add multiple lines to a Business Unlimited 5G smartphone plan?

Yes, Verizon’s Business Unlimited 5G smartphone plans allow you to add multiple lines. There are multiple options for businesses, ranging from single-line plans to multiple-line plans. The amount of lines you select is based on your company’s requirements.

Do Verizon Business Unlimited 5G smartphone plans offer any international benefits?

Yes, unlimited talk and text is available in Canada and Mexico along with 2 GB of high speed data per day with unlimited data at 3G speeds thereafter. If more than 50% of your total talk, text or data usage in a 60-day period is in Canada or Mexico, use of those services in those countries may be removed or limited. Additionally, Verizon Business Unlimited Plus 5G and Unlimited Pro 5G plans offer TravelPass that include international talk and text in over 210 countries and destinations.

Can I bring my own device or do I need to purchase a new device with the Business Unlimited 5G smartphone plan?

Verizon’s Business Unlimited 5G smartphone plans offer the flexibility to bring your own device (BYOD) or purchase new devices . If you already have compatible devices, you can simply activate them on a Business Unlimited plan. Alternatively, Verizon offers a wide range of devices for purchase if you prefer new devices for your business.

Are there unlimited data plans for other devices?

Yes, Verizon offers a variety of plans with unlimited data for tablets, laptops, smartwatches and hotspots. This provides the right solution for businesses requiring reliable connectivity while on the go.

Offer and Pricing Details

All Offers:  Offers available to new business customers only, subject to credit review. Not available in all areas/locations. Depending on speed tier purchased, promotional pricing for Internet and voice guaranteed for 12 consecutive months ($10 increase starting month 13 with 2 year contract), or 24 consecutive months ($10 increase starting month 25 with 2 year contract), or 36 consecutive months ($10 increase starting month 37 with 2 year contract) or 60 consecutive months ($10 increase starting month 61 with 2 year contract) (60 month guarantee not available in all areas where Fios is sold) subject to continuation of qualifying products; price guarantee applies to base monthly rate only; excludes optional services and equipment charges; prices subject to increase thereafter. With no annual contract, price increases to then current market rate subject to the applicable guarantee period. Select installation charges may be waived. Additional charges apply for inside wiring and/or other installation services. $49 activation fee may apply. Offers may be fulfilled via bill credit(s); other taxes, fees & terms apply.  Early termination fees  for a 2 year contract: 35% of base monthly charges for unexpired term. 2 year term automatically renews at then-current term rates unless canceled within 30 days prior to or 60 days after the term is renewed.  Money Back Guarantee  (MBG) is available with 2 year contract only and requires cancellation within 30 days of installation; excludes subscriptions, per minute usage, labor/material charges in excess of standard installation and month-to-month service plans, including Fios TV service. Wireless Verizon Router is available for $399.99 purchase and $18/mo rental (except in Maryland, where the wireless Fios Router is available for $299.99 purchase and $15/mo rental).  Wireless router models and prices are subject to change. Phone equipment purchase required with VoIP, starting at $85. Equipment must be returned within 30 days of cancellation. Equipment restocking fee may apply if order is canceled or service is terminated within 30 days. MBG and/or promotional offers do not apply to service ordered for temporary, short term or special events.  Firm Price Quote  is valid for 5 business days and is an estimate based on current pricing, promotions and taxes that are subject to change. Quote does not include additional charges for nonstandard installations. Verizon Wi-Fi available in select areas with qualifying packages. Software limitations and other terms apply. Visit business.verizon.net/wifi for details.  Offers are available for a limited time only and are subject to change without notice.  Wired speeds advertised. Wired & wireless speeds vary due to device limits, multiple users, network & other factors. See  www.verizon.com/yourspeed  for more info. Service availability varies.

Fios Internet & Phone Bundle (VSB):  Usage charges apply on basic line. Activation fee of $49 may apply based on speed tier purchased. Wireless Verizon Router is available for$399.99 purchase and $18/mo rental (except in Maryland, where the wireless Fios Router is available for $299.99 purchase and $15/mo rental).  Wireless router models and prices are subject to change. Backup battery available for Fios voice services & E911. VSB not available with 2048/2048 Mbps Internet (2 Gigabit Connection).

Fios Internet & Business Digital Voice (BDV) Bundle:  Pricing for BDV line(s) with the Fios bundle: For speeds 200/200 Mbps and higher: the first BDV line is available for $20/mo. and $25/mo. for each addl. line. Pricing reflected in the cart. No annual contract required. $49 activation fee may apply. Wireless Verizon Router is available for $399.99 purchase and $18/mo rental (except in Maryland, where the wireless Fios Router is available for $299.99 purchase and $15/mo rental). Wireless router models and prices are subject to change. Business Digital Voice requires phone equipment purchase starting at $85.00.

Basic Internet & Phone Bundle : $49.00 activation fee applies with 2 year contract; $99.00 activation fee applies with no annual contract. Wireless router available for $49.00, subject to change. Basic Internet will be provisioned at our fastest speed available at your location of up to 1Mbps, 3Mbps, 5Mbps, 7Mbps or 10-15Mbps based on VZ line qualifications requirements.

$5/month Auto Pay & Paper-Free Billing discount:  For new and existing Fios Internet or Basic Internet customers on select plans. May not be combined with all offers. $5/mo. discount begins when you sign up for Auto Pay (ACH or debit card only) & paper-free billing (registration on  verizon.com/mybusiness  required). $5 discount will be applied each month as long as auto pay and paper-free billing stay active.

$85 Business Digital Voice Phone Discount:  Offer available on select IP Phones with purchase of a new Fios Internet and Business Digital Voice bundle with a two year agreement. Fulfilled via bill credit. Taxes apply. Limit one discount per phone model. Restocking fee may apply if canceled within 30 days. Available to select customers in select areas only. Offer ends 3.31.24.

Included Router Rental Fee:  Available only to Fios Internet customers on the Gigabit Connection plan (up to 940/880 Mbps) or 2 Gigabit Connection plan (up to 2048/2048 Mbps) where available. Qualifying customers will receive a monthly bill credit for the applicable monthly router rental fee for as long service with qualifying plan is on the account.  Promo credits end when eligibility requirements are no longer met.  If your Fios service is cancelled, you must return the Fios router subject to Verizon’s standard return policy. 

Fios Switching Allowance Offer:  Offer for new business customers in select areas only who sign up for qualifying Fios internet service with a two year agreement (subject to credit review) and who terminated their prior internet service and incurred an early termination fee (ETF). To redeem offer, you must email documentation of the ETF from your prior service provider w/in 30 days after receipt of final bill. Offer fulfilled via a bill credit to your Verizon account in the amount of the billed ETF, up to $1,500. Credit will be issued starting after 30 days of service, and will appear on your Verizon bill within 2-3 billing cycles. You remain solely responsible for paying the ETF to your prior service provider. Offer is non-transferable, has no cash or refund value, and may not be combined with all offers. Other terms apply. Offer ends 3.31.24.

Visa Prepaid Card Offers : Businesses who sign up for qualifying Fios Internet with our mid-tier or high-tier speeds with a two-year agreement will receive a Visa Prepaid Card, with the Visa Prepaid Card amount based on speed tier purchased, as follows: (i) $100 Visa Prepaid Card for Fios 500/500 Mbps Internet; or (ii) $500 Visa Prepaid Card for Fios 940/880 Mbps Internet (Gigabit Connection) or 2048/2048 Mbps Internet (2 Gigabit Connection). May only be combined with select offers. Only available in select locations, including the Philadelphia metro area, parts of New York state and parts of central Massachusetts. Call or visit the website to confirm availability.  Visa Prepaid Card is issued by Pathward®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. No cash access or recurring payments. Can be used everywhere Visa debit cards are accepted. Card valid for up to 12 months, funds do not expire and may be available after card expiration date, fees may apply. Terms and conditions apply.  Must register for card online and keep qualifying Verizon service for 60 days from install, with no past-due balance 65 days from install. Card mailed within 90 days of install date. Limit one card per account. Other card terms and conditions apply. Offers end 3.31.24.

Visa Prepaid Card Fast Start Offers : Businesses who sign up for qualifying Fios Internet with our mid-tier or high-tier speeds with a two-year agreement will receive a Visa Prepaid Card, with the Visa Prepaid Card amount based on speed tier purchased, as follows: (i) $400 Visa Prepaid Card for Fios 500/500 Mbps Internet; or (ii) $800 Visa Prepaid Card for Fios 1 Gig Internet (940/880 Mbps) or Fios 2 Gig Internet (2048/2048 Mbps). May not be combined with all offers. Not available in all locations, including the Philadelphia metro area, parts of New York state and parts of central Massachusetts. Call or visit the website to confirm availability.  Visa Prepaid Card is issued by Pathward®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. No cash access or recurring payments. Can be used everywhere Visa debit cards are accepted. Card valid for up to 12 months, funds do not expire and may be available after card expiration date, fees may apply. Terms and conditions apply.  Must register for card online and keep qualifying Verizon service for 60 days from install, with no past-due balance 65 days from install. Card mailed within 90 days of install date. Limit one card per account. Other card terms and conditions apply. Offers end 3.31.24.

Fios Business Internet/Business Unlimited Offer:  Offer available to new and existing business customers in select areas only who sign up for both: (i) a qualifying Fios Business Internet plan & (ii) a qualifying Verizon Wireless Business Unlimited plan (eligible smartphone required, device payment purchase or bring your own device). Existing customers are eligible with Fios Business Internet plan upgrade or Business Unlimited plan upgrade or a new line, as applicable. Customers with Fios Gigabit Connection (speeds up to 940/880 Mbps) or Fios 2 Gigabit Connection (speeds up to 2048M/2048M), where available, and Verizon Wireless Business Unlimited Pro plan (at least 1 line) are eligible for a total credit of $80/mo, all other combinations of service plans are eligible for a total credit of $40/mo. Offer fulfilled as a credit of $20/mo. or $40/mo. each to your Fios and Verizon Wireless bills, for a total credit of $40/mo or $80/mo as applicable. Credit is fulfilled at an account level and only one promotional credit per account. Discounts are applied once both services are activated. All discounts apply as long as Verizon provides & business maintains both services at the qualifying levels. Limited time offer.

$100 One-Time Discount:  Offer available only to business customers who are new to Verizon and who sign up for a qualifying Fios Business Internet plan and a qualifying Verizon Wireless Business Unlimited plan. Existing Verizon customers are not eligible. One time $100 discount offer fulfilled as a bill credit to your Verizon Wireless account and will appear within 1-2 billing cycles. May only be combined with select offers. Limited time offer.

Fios Internet Only:  $49 activation fee applies based on speed tier.  Wireless Verizon Router is available for $399.99 purchase and $18/mo rental (except in Maryland, where the wireless Fios Router is available for $299.99 purchase and $15/mo rental).  Wireless router models and prices are subject to change.

Basic Internet Only: $49.00 activation fee applies with 2 year contract; $99.00 activation fee applies with no annual contract. Wireless router available for $49.00, subject to change. Verizon Basic Internet will be provisioned at up to 1Mbps, 3Mbps, 5Mbps, 7Mbps or 10–15Mbps based on VZ line qualifications requirements. Availability subject to final confirmation by Verizon.

Preferred Voice Only:  Offer available to new and existing customers. Requires 2-yr term agreement. Includes unlimited direct-dialed voice calls to anywhere in the US. Selected activation and installation charges are waived. Additional charges may apply for inside wiring and/or other installation services. Additional Universal Service Fee, taxes and other charges apply. Call detail is not provided for unlimited calling.

Business Digital Voice (BDV) Only:  Offer available to new customers with 100 voice lines or fewer in select areas only, subject to credit review. BDV requires an existing Internet connection of 5Mbps or higher. $99.99 activation and $200 installation fees apply. Additional charges apply for inside wiring and/or other installation services. Phone equipment purchase req’d, starting at $85.00. Call detail is not provided for unlimited calling.

Fios TV:  Wireless Verizon Router is available for $399.99 purchase and $18/mo rental (except in Maryland, where the wireless Fios Router is available for $299.99 purchase and $15/mo rental).  Wireless router models and prices are subject to change.. $99.99 activation and $89.99 installation fees (first three existing TV outlets) apply. Additional charges apply for inside wiring and/or other installation services. $11.99/mo. HD set top box, franchise and regulatory fees, up to $8.89 Regional Sports Network (RSN) fee, $11.49 Broadcast Fee, other taxes and fees apply. Equipment shipping charge may apply. Program availability varies by location. Number of channels is approximation. High Definition (HD) TV with HD STB required for HD programming. Certain TV plans, Pay Per View (PPV) and Subscription or fee-based Video On Demand (VOD) are not permitted for viewing in restaurants, bars or other customer service areas. Channel lineup is subject to change and not all channels will be available at all times. Blackout restrictions apply. Month-to-month service without an annual contract required.

Fios TV Mobile app:  Req. compatible device and Fios® TV. Content restrictions may apply. Fios Internet req’d for in-office use. Full channel access and DVR streaming require Fios Multi-Room DVR enhanced or Premium Service. Max. combined 5 simultaneous live TV streams and/or DVR streams per media server. Streaming of TV shows and movies On Demand included in your plan is available to all business customers. Streaming of rented/purchased TV shows and movies On Demand is only available to Private Viewing business customers. Requires acceptance of Terms of Service and Private Viewing conditions at  verizon.com/mybusiness . Early access to Fios TV Mobile app begins with activation & ends upon installation or in 14 days, whichever comes first. Wireless data charges may apply.

Veterans / Active Military offer:  Offer available to eligible and verified members of the U.S. military and U.S. Veterans in select areas with Business Fios Internet with a two year agreement, subject to credit review. Not available in all areas/locations. Upon military service verification through Veterans Advantage, eligible customers will receive a discount in the amount of $5/month for speeds up to 500M/500M; or $10/month for 940/880 Mbps and 2048/2048 Mbps (where available), for as long as that customer maintains qualifying Business Fios Internet service. Not available for month-to-month plans. Eligible customers must complete the military service verification process within 30 days of the order to get the discount.

Business Internet Secure:  Available to businesses with 19 employees or less. Requires current Fios Business Internet service. Business Internet Secure licenses are sold in packs of 5, 10, and 25 with one license covering one device (laptop, desktop, smartphone or tablet). One license pack at a time per customer account. Prices are monthly and exclusive of taxes and fees. Terms and conditions apply. System requirements: Windows 7 and above; Mac OSX 10.9 and above; Android OS 5.0 and above, or Apple iOS 10.0 and above.

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Building a Supplier Diversity Program? Learn from the U.S. Government.

  • Chris Parker
  • Dwaipayan Roy

group 1 business plan

Time-tested practices of the federal government can help companies develop more inclusive supply chains.

Large companies are striving to increase their purchases from small, diverse-owned businesses (SDBs) — those that are 51% or more owned and operated by an individual or group that is part of a historically underrepresented or underserved group (e.g., women, racial minorities, veterans, LGBTQIA+, and people with disabilities). Despite their pledges, they are struggling to meet their goals. The practices of four federal agencies can help them make their programs more effective.

Since George Floyd’s murder in 2020 and the nationwide protests in the United States to address racial injustice that it sparked, large companies in the United States have been increasingly looking to supplier diversity programs as a means to advance racial equity.

  • Chris Parker is a Kogod Research Professor and associate professor of information technology and analytics at American University and a visiting associate professor of business administration at the University of Virginia’s Darden School of Business.
  • Dwaipayan Roy is an assistant professor of business administration at the University of Virginia’s Darden School of Business, where he studies socially responsible operations. He previously worked as a project manager at the Royal Bank of Scotland.

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group 1 business plan

Create a form in Word that users can complete or print

In Word, you can create a form that others can fill out and save or print.  To do this, you will start with baseline content in a document, potentially via a form template.  Then you can add content controls for elements such as check boxes, text boxes, date pickers, and drop-down lists. Optionally, these content controls can be linked to database information.  Following are the recommended action steps in sequence.  

Show the Developer tab

In Word, be sure you have the Developer tab displayed in the ribbon.  (See how here:  Show the developer tab .)

Open a template or a blank document on which to base the form

You can start with a template or just start from scratch with a blank document.

Start with a form template

Go to File > New .

In the  Search for online templates  field, type  Forms or the kind of form you want. Then press Enter .

In the displayed results, right-click any item, then select  Create. 

Start with a blank document 

Select Blank document .

Add content to the form

Go to the  Developer  tab Controls section where you can choose controls to add to your document or form. Hover over any icon therein to see what control type it represents. The various control types are described below. You can set properties on a control once it has been inserted.

To delete a content control, right-click it, then select Remove content control  in the pop-up menu. 

Note:  You can print a form that was created via content controls. However, the boxes around the content controls will not print.

Insert a text control

The rich text content control enables users to format text (e.g., bold, italic) and type multiple paragraphs. To limit these capabilities, use the plain text content control . 

Click or tap where you want to insert the control.

Rich text control button

To learn about setting specific properties on these controls, see Set or change properties for content controls .

Insert a picture control

A picture control is most often used for templates, but you can also add a picture control to a form.

Picture control button

Insert a building block control

Use a building block control  when you want users to choose a specific block of text. These are helpful when you need to add different boilerplate text depending on the document's specific purpose. You can create rich text content controls for each version of the boilerplate text, and then use a building block control as the container for the rich text content controls.

building block gallery control

Select Developer and content controls for the building block.

Developer tab showing content controls

Insert a combo box or a drop-down list

In a combo box, users can select from a list of choices that you provide or they can type in their own information. In a drop-down list, users can only select from the list of choices.

combo box button

Select the content control, and then select Properties .

To create a list of choices, select Add under Drop-Down List Properties .

Type a choice in Display Name , such as Yes , No , or Maybe .

Repeat this step until all of the choices are in the drop-down list.

Fill in any other properties that you want.

Note:  If you select the Contents cannot be edited check box, users won’t be able to click a choice.

Insert a date picker

Click or tap where you want to insert the date picker control.

Date picker button

Insert a check box

Click or tap where you want to insert the check box control.

Check box button

Use the legacy form controls

Legacy form controls are for compatibility with older versions of Word and consist of legacy form and Active X controls.

Click or tap where you want to insert a legacy control.

Legacy control button

Select the Legacy Form control or Active X Control that you want to include.

Set or change properties for content controls

Each content control has properties that you can set or change. For example, the Date Picker control offers options for the format you want to use to display the date.

Select the content control that you want to change.

Go to Developer > Properties .

Controls Properties  button

Change the properties that you want.

Add protection to a form

If you want to limit how much others can edit or format a form, use the Restrict Editing command:

Open the form that you want to lock or protect.

Select Developer > Restrict Editing .

Restrict editing button

After selecting restrictions, select Yes, Start Enforcing Protection .

Restrict editing panel

Advanced Tip:

If you want to protect only parts of the document, separate the document into sections and only protect the sections you want.

To do this, choose Select Sections in the Restrict Editing panel. For more info on sections, see Insert a section break .

Sections selector on Resrict sections panel

If the developer tab isn't displayed in the ribbon, see Show the Developer tab .

Open a template or use a blank document

To create a form in Word that others can fill out, start with a template or document and add content controls. Content controls include things like check boxes, text boxes, and drop-down lists. If you’re familiar with databases, these content controls can even be linked to data.

Go to File > New from Template .

New from template option

In Search, type form .

Double-click the template you want to use.

Select File > Save As , and pick a location to save the form.

In Save As , type a file name and then select Save .

Start with a blank document

Go to File > New Document .

New document option

Go to File > Save As .

Go to Developer , and then choose the controls that you want to add to the document or form. To remove a content control, select the control and press Delete. You can set Options on controls once inserted. From Options, you can add entry and exit macros to run when users interact with the controls, as well as list items for combo boxes, .

Adding content controls to your form

In the document, click or tap where you want to add a content control.

On Developer , select Text Box , Check Box , or Combo Box .

Developer tab with content controls

To set specific properties for the control, select Options , and set .

Repeat steps 1 through 3 for each control that you want to add.

Set options

Options let you set common settings, as well as control specific settings. Select a control and then select Options to set up or make changes.

Set common properties.

Select Macro to Run on lets you choose a recorded or custom macro to run on Entry or Exit from the field.

Bookmark Set a unique name or bookmark for each control.

Calculate on exit This forces Word to run or refresh any calculations, such as total price when the user exits the field.

Add Help Text Give hints or instructions for each field.

OK Saves settings and exits the panel.

Cancel Forgets changes and exits the panel.

Set specific properties for a Text box

Type Select form Regular text, Number, Date, Current Date, Current Time, or Calculation.

Default text sets optional instructional text that's displayed in the text box before the user types in the field. Set Text box enabled to allow the user to enter text into the field.

Maximum length sets the length of text that a user can enter. The default is Unlimited .

Text format can set whether text automatically formats to Uppercase , Lowercase , First capital, or Title case .

Text box enabled Lets the user enter text into a field. If there is default text, user text replaces it.

Set specific properties for a Check box .

Default Value Choose between Not checked or checked as default.

Checkbox size Set a size Exactly or Auto to change size as needed.

Check box enabled Lets the user check or clear the text box.

Set specific properties for a Combo box

Drop-down item Type in strings for the list box items. Press + or Enter to add an item to the list.

Items in drop-down list Shows your current list. Select an item and use the up or down arrows to change the order, Press - to remove a selected item.

Drop-down enabled Lets the user open the combo box and make selections.

Protect the form

Go to Developer > Protect Form .

Protect form button on the Developer tab

Note:  To unprotect the form and continue editing, select Protect Form again.

Save and close the form.

Test the form (optional)

If you want, you can test the form before you distribute it.

Protect the form.

Reopen the form, fill it out as the user would, and then save a copy.

Creating fillable forms isn’t available in Word for the web.

You can create the form with the desktop version of Word with the instructions in Create a fillable form .

When you save the document and reopen it in Word for the web, you’ll see the changes you made.

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Communiqué de presse

Des familles de premier plan à l’honneur : sioen, vpk group et ziegler en lice pour le « family business award of excellence® » 2024, ey organise l’édition anniversaire de cette prestigieuse récompense.

EY Belgique Brand, Marketing and Communications Director

PR & Communications EY Belgique

Ligne fixe: +32 2 774 9007

  • Cette année, EY célèbre une étape importante puisqu’il s’agit de la 10 e  édition du prestigieux « Family Business Award of Excellence ®  », en partenariat avec L’Echo et De Tijd, BNP Paribas Fortis, WorxInvest, FBN Belgium et GUBERNA.
  • Les entreprises familiales nommées sont Sioen, VPK Group et Ziegler.
  • Le président du jury, Guido Vanherpe, CEO de La Lorraine Bakery Group, décernera le prix le 26 mars prochain.

Eric Van Hoof, partner chez EY, souligne l’importance de cette reconnaissance : « En tant qu’associé responsable de la division “Entreprises familiales”, je suis profondément impressionné par le rôle crucial que jouent ces entreprises dans notre économie. Les entreprises familiales ne sont pas seulement l’épine dorsale de l’emploi ; elles sont aussi indispensables à une croissance et une prospérité durables. Leur valeur ajoutée va au-delà du seul gain financier ; elles contribuent au développement social et économique de notre société. La manière dont Sioen, VPK Group et Ziegler se distinguent par leur engagement en faveur des valeurs familiales, par leur vision à long terme et par leur capacité à créer de l’emploi et à le maintenir est admirable. Je les félicite chaleureusement pour leur sélection en tant que finalistes et pour leur parcours de croissance réalisé à ce jour. »  

Les entreprises nominées pour le « Family Business Award of Excellence ®  » 2024

Sioen est un groupe diversifié, avec un vaste portefeuille d’activités et de produits tels que la filature, le tissage, le coating de textiles techniques, la confection de vêtements et la production de produits chimiques fins. Sioen Industries a été fondée en 1960 par Jean-Jacques Sioen, mais remonte à une tradition textile qui a commencé en 1907 lorsqu’Adolf Sioen a fondé une usine de tissage appelée Sioen-Sabbe. Aujourd’hui, le groupe, qui compte 6 000 collaborateurs dans plus de 20 pays et réalise un chiffre d’affaires de 730 millions d’euros, est dirigé par la troisième et quatrième génération. Le groupe est un leader mondial dans le domaine des textiles techniques enduits et des vêtements de protection professionnels.  

VPK Group est un groupe d’emballage de premier plan qui est passé depuis 1935 d’un acteur local à un fournisseur international de solutions d’emballage durables en carton ondulé, en carton compact et en tubes et protections d’angle. L’emballage est 100% recyclable et biodégradable et est principalement produit à base de papier, ce qui garantit un modèle commercial circulaire. La croissance continue du groupe VPK est principalement le résultat de sa vision à long terme et de son engagement en faveur de la durabilité, tant sur le plan écologique qu’économique. Aujourd’hui, le groupe VPK est dirigé par la troisième et la quatrième génération. Le groupe emploie plus de 7 000 personnes dans 20 pays et réalise un chiffre d’affaires de 1,9 milliard d’euros.  

Le Groupe Ziegler a débuté ses activités en 1908 à Bruxelles et est depuis devenu un leader sur le marché du transport multimodal durable et de la logistique. Les activités comprennent le transport routier, le transport aérien et maritime, l’entreposage et la logistique ainsi que le dédouanement et le transport multimodal (barge/rail). Avec plus de 3 200 employés dans le monde entier, Ziegler exploite un réseau très dense de 156 agences dans plus de 16 pays ainsi qu’un puissant réseau d’agents exclusifs. À la différence de grands groupes de transports mondiaux, le Groupe Ziegler s’est toujours attaché à rester une entreprise à taille humaine, 100% familiale. Cette configuration leur offre une souplesse d’action et des prestations sur-mesure. Le groupe est aujourd’hui dirigé par la troisième et quatrième génération et compte un chiffre d’affaires de plus de 740 millions d’euros en Belgique et en France.  

Le « Family Business Award of Excellence ®  »

Le « Family Business Award of Excellence ®  - Sustainable entrepreneurship across generations » récompense des entreprises familiales qui ont su mettre en évidence des pratiques remarquables en matière de gouvernance familiale et d’entreprise, de vision et de maintien des valeurs familiales, de création de valeur et de transmission de l’esprit d’entreprendre à travers les générations, de communication et d’engagement sociétal.

Le lauréat de cette année rejoindra le tableau d’honneur suivant: Decospan(2023), Spaas Kaarsen (2022), Cartamundi (2020), Duvel Moortgat (2019), SIPEF (2018), Vandersanden Group (2017), La Lorraine Bakery Group (2016), Reynaers Aluminium (2015) et Cosucra (2014).

Plus d’infos sur https://www.ey.com/fr_be/family-business .  

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IMAGES

  1. Simple Business Plan Template For Startup Founders

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  2. Components Of Business Plan In Entrepreneurship

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COMMENTS

  1. Write your business plan

    Executive summary Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and basic information about your company's leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.

  2. How To Write A Business Plan (2024 Guide)

    Describe Your Services or Products. The business plan should have a section that explains the services or products that you're offering. This is the part where you can also describe how they fit ...

  3. Best Small-Business Group Health Insurance Plans

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  4. How to Write a Simple Business Plan

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  5. Business Plan

    Start Free Written by CFI Team What is a Business Plan? A business plan is a document that contains the operational and financial plan of a business, and details how its objectives will be achieved. It serves as a road map for the business and can be used when pitching investors or financial institutions for debt or equity financing.

  6. Group Home Business Plan Template [Updated 2024]

    Your group home business plan is a living document that should be updated annually as your company grows and changes. Sources of Funding for Group Home Businesses With regard to funding, the main sources of funding for a group home business are personal savings, credit cards, bank loans, and angel investors.

  7. 10-part business plan template and how write a business plan

    1. Executive summary Even though it appears first in the official plan, write this section last so you can condense essential ideas from the other nine sections. For now, leave it as a placeholder. What is an executive summary? The executive summary lays out all the vital information about your business within a relatively short space.

  8. How to Write the Perfect Business Plan: A Comprehensive Guide

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  10. How to Write a Business Plan: Guide + Examples

    At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you're going to build and grow your business, what your marketing strategy is, and who your competitors are. Most business plans also include financial forecasts for the future.

  11. 550+ Sample Business Plan Examples to Inspire Your Own

    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.

  12. Group Home Business Plan Template [Updated]

    Download Template Create a Business Plan Starting a group home is an excellent way to make money, help those in need, and make a positive impact on society. However, just like any other business—you will need a solid business plan in place to succeed. Need help writing a business plan for your group home business? You're at the right place.

  13. 11.4 The Business Plan

    A business plan is likely to describe the business and industry, market strategies, sales potential, and competitive analysis, as well as the company's long-term goals and objectives. An in-depth formal business plan would follow at later stages after various iterations to business model canvases.

  14. How to Write the Financial Section of a Business Plan

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  15. How To Write a Business Plan in 9 Steps (2024)

    Keep the tone, style, and voice consistent. This is best managed by having a single person write the plan or by allowing time for the plan to be properly edited before distributing it. 6. Use a business plan template. You can also use a free business plan template to provide a skeleton for writing a plan.

  16. Group Health Insurance for a small business with one employee

    Tax Credit: Offering SHOP group health insurance qualifies for the Small Business Health Care Tax Credit as long as your business has 1-25 employees. Your employee needs to earn an annual salary of $56,000 or less, and you must pay at least half of the premiums. Both employer and employee may deduct the premiums paid.

  17. Group Home Business Plan [Sample Template]

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    Get unlimited eSignatures. Create, manage, and eSign documents for only $19 per month. Create your success roadmap with a laundromat business plan template, designed to arrange the essentials of the laundry business. Empower your path to long-term success with our 5-year business plan template.

  19. Business Plan: What It Is + How to Write One

    1. Executive summary. This is a short section that introduces the business plan as a whole to the people who will be reading it, including investors, lenders, or other members of your team. Start with a sentence or two about your business, your goals for developing it, and why it will be successful. If you are seeking funding, summarize the ...

  20. The 12 Key Components of a Business Plan (2023)

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  21. How to Write an Impressive One-Page Business Plan [Including ...

    Here are the key elements of a one-page business plan: The executive summary, business opportunity, value proposition, team members, industry analysis, target market, marketing plan, revenue model, implementation time, financial summary, funding requirements and contact information. To design a startup one pager, you should create an outline ...

  22. Group 1 Business Plan Yema

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  23. 24 of My Favorite Sample Business Plans & Examples For Your Inspiration

    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.

  24. Group 1

    Group 1 - Business Plan | PDF | Private Sector | Marketing GROUP-1_-BUSINESS-PLAN - Read online for free. Business Plan Example

  25. Business Unlimited Phone Plans

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    Cette année, EY célèbre une étape importante puisqu'il s'agit de la 10 e édition du prestigieux « Family Business Award of Excellence ® », en partenariat avec L'Echo et De Tijd, BNP Paribas Fortis, WorxInvest, FBN Belgium et GUBERNA. Les entreprises familiales nommées sont Sioen, VPK Group et Ziegler.