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How to Make Sago’t Gulaman Pang Negosyo (With Costing)

Here’s another business idea to consider this summer. Since the weather is getting hotter and hotter, it’s great to serve something to quench our thirst. Sago’t gulaman is one perfect summer business hit that you can try today.

Ingredients:

250g Sago 25g Gulaman Powder (black) 1kl Sugar 25g Sago Gulaman Mix ( Buy here ) 4-5 Liters Water Ice Cups Straws

• Prepare the sago. Just boil some water in a pot, drop all the sago and cook. When it starts to become translucent, pour in about a cup of sugar, then cook until soft. Set aside, let it cool.
• Prepare the gulaman. In about 3 cups of water (I don’t usually follow the packaging instructions to get a much firmer gulaman), dissolve the gulaman powder, turn on the heat, let it simmer. Remove from fire, pour into a molder and slice into smaller pieces. Set aside.
• For the arnibal. Prepare around 4 liters of water in a pot, dissolve the sugar and sago gulaman mix. Once properly dissolved, turn on the heat and let it boil for about 10 minutes. Set aside and let it cool.
• Finally, you have two options when selling. Either you scoop gulaman, sago and pour in arnibal on every cup or you can combine everything a big jar when selling. Don’t forget to add ice!

Sago – P45.00 Gulaman – P15.00 Sugar – P90 Injoy Sago Gulaman Mix – P20.00

Plastic Cups – P40.00 Plastic Straws – P10.00 Ice – P20.00

TOTAL CAPITAL: P250.00 (include gas, transpo, etc.)

Made 40 Cups / P10.00 each

40 X 10 = P400.00

P400 – P250 = P150.00 (Profit)

Note from Ren:

You can still adjust the mixture. Either you add more water or sugar depending on your preference. Although sago gulaman mix says you can dissolve it in 10L of water, but I adjusted it to make my arnibal flavorful.

You can also use small sago if you want or any color or gulaman.

For more questions and suggestions, drop a comment below or send me an email or direct message us on our Facebook Page.

Buy Gulaman Mix on Shopee :

Other recipes to try:

How To Make Coconut Balls Pang Negosyo (With Costing)

How to Make 3-Ingredient Oreo Muffins

How to Make Espasol

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Gulaman Corner: Sago’t Gulaman and Samalamig Food Cart

Beverage business starting at p149,000.00.

Gulaman Corner

Gives you an idea that this can be a great product to franchise as it requires no season to sell.  The target market of gulaman and samalamig is so huge that even if you just target only 10% of the entire community, there is a sure market to supply to and a business to manage. What a great and refreshing way to start this cold business. It has also come to refer to the refreshment or dessert, sometimes referred to as a malamig or sago’t gulaman, sold at roadside stalls and vendors. This drink consists of gulaman cubes and/or sago or tapioca pearls, suspended in milk, fruit juice, or brown-sugar-water flavored with pandan leaves. It is also sold commercially as Pearl Shakes.

Currently, this is a hit on the streets throughout the country.  Children of all ages as well as adults of any status in life still craves and revels to this flavorsome cold refreshment any time of the year. Thus, this gives you the idea that this can be a great product to franchise as it requires no season to sell.  The target market of gulaman and samalamig is so huge that even if you just target only 10% of the entire community, there is a sure market to supply to and a business to manage. What a great and refreshing way to start this cold business.

Our Sagot at Gulaman Food Cart Franchise is Gulaman Corner!

Franchise starts at p99,000.00.

Inclusions:

• The use of “Gulaman Corner” trade name
• A mini high-end food cart (measures 7 ft x 5ft x2.5 ft)
• Acrylic juice container with a ladle (Five sets)
• Cooking equipment
• Pitcher and dispenser
• Complete set of a uniform of one service crew (includes shirt, visor and hair net)
• Starting products worth P3,000.00
• Business and product orientation
• Franchise Seminar
• Hands-on training for you and your crew
• Concept manual
• After-sales support

More Awesome Pictures of Actual Happy Franchisees

Contact Information

Mr. Edison Gomez:   0917-5323708  / 0998-5928617 / 02) 219 5869.

You can also send an email using the form below:

[contact-form to=’ billionairesclubph @gmail.com ‘ subject=’Inquiry: Gulaman Corner (Fab.ph)’][contact-field label=’Name’ type=’name’ required=’1’/][contact-field label=’Email’ type=’email’ required=’1’/][contact-field label=’Contact Number’ type=’text’ required=’1’/][contact-field label=’Message’ type=’textarea’ required=’1’/][/contact-form]

More About Sago at Gulaman

The Philippines is considered as a tropical country and as such the concoction of any creative cold drinks is constantly evolving to beat the heat that Mr. Sun is always radiating.  Any beverage on ice is always a hit to anyone who is traveling as the temperature is relatively stable around 34 c throughout the year.  However, during summertime, it shoots up and everything around is hot and humid.  Thus, when ice was invented and introduced to the country, the creation and recreation of drinks just became very popular and people just loved and enjoyed it.

The most popular among these drinks is the tasty and colorful “Sago at Gulaman Samalamig”.  The nearest description to this refreshing drink is Pearl and Jelly Coolers. ‘Sago’ is actually tapioca pearls that are made of starchy material formed as chewy balls.  ‘Gulaman’ on the other hand is the Filipino version of the Jell-O in America.  This perfect combination is then mixed with water diluted in brown sugar cooked with Pandan leaves and chunks of ice to give the sweet taste. ‘Samalamig’ which is referred to as the peddled drinks in the streets came from the word ‘palamig’ meaning ‘to cool down’ and this perfectly makes the drink sweet, colorful, and vibrant.  Thus, if you interpret this icy refreshment it will taste like sweet tapioca pearls and Jell-O on ice.  The best thirst quencher you can get all year round.

FaB Suffrage - Food Cart Business Franchise Philippines

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Gulaman is the Filipino version of gelatin, it’s close in texture and taste to regular gelatin oragar-agar. A carrageenan that is used to create desserts with a jelly-like base. This is usually in powdered form, but can also be found in dry bar form, most often colored, flavored or unflavored. Creating wonderful and interesting desserts, like the Cathedral or creamy window jelly you would often find during the Christmas season, or beverages like Sago’t gulaman, a sweet refreshing summer drink and many more!

A short introduction

Gulaman or sometimes translated to English as ‘gelatin’, is an ingredient to create jelly-like desserts. It comes unflavored or flavored, with different colors in a light-weight but big dry bar form, or in powdered form sold by packets. What is it made of? These are made of carrageenans which is made from edible red seaweeds, typically used in the food industry to thicken, stabilize or create binding gels out of food, mainly for meat, dairy, and other objects. These can either be made of agar that are from the edible red algae from these two types; Garcilaria and Gelidiaceae. Agar creates support and structure for many Asian desserts, many use them as a substitute for gelatin since these are vegan and are firmer and more dense, and sometimes does not even need to be chilled in the fridge. Similar to other carrageenans based ingredients, these can help thicken and bind (stick) dishes together, but aside from this it can also help with non-food related items such as brewing and connecting fabrics and paper textiles.

In the Philippines, the bar form is just the foot-long dehydrated version that is usually unflavored but colored in bright green, red, and many more choices depending on the dessert to be made. For the powdered form, there is a popular brand called Mr Gulaman (Mr Hat Gulaman), selling the powder form made of seaweed extract, adding coloring, and or flavoring. Gelatinous recipes made from these typically include refreshers like Sago’t gulaman, black or red gulaman drinks, halo-halo, buko pandan dessert or beverage, and most of the colorful desserts in Filipino cuisine use this jelly to add color and texture into other cream or jelly-based dishes.

Gelatin vs Gulaman?

• The biggest difference is that Gelatin comes from collagen taken from the skin and bones of animals. While Gulaman is made from red seaweed or red algae, making it vegan.
• Gelatin is also more soluble compared to Gulaman which needs a higher temperature of liquid to melt properly. Though if one were to substitute it with each other, you only need a similar ratio (1:1) to do so.
• Most gulaman based desserts also do not need to be chilled and can harden at room temperature compared to Gelatin that needs to be left in the fridge for some time.

Gulaman Recipes :

Why try this gelatinous ingredient? A typical Filipino ingredient that you might come across a lot, from street stalls, grocery, malls, restaurants and so on. Made into a Gulaman drink or Gulaman dessert, you’re sure to enjoy this colorful dessert staple in recipes like:

• Sago’t gulaman – a tropical cooler made with a mix of gulaman or gelatin, tapioca pearls, brown sugar, and water. The simplest and best way to cool off from the summer heat.
• Cathedral Window Jelly dessert – a pretty dessert made of different colored jelly cubes, all bound with a creamy sweet base. Will remind you of many Filipino Christmases.
• Black gulaman recipe – can be found pre-made, ready to eat, or made homemade with just a few ingredients, these taste close to grass jelly, wiggly, sweet, and delicious!
• Buko pandan – This wonderfully noticeable green dessert is a mix of many traditional ingredients from coconut cream, coconut milk, condensed milk, buko pandan, buko pandan jelly, tapioca pearls, and nata de coco, all submerged in a delectable sweet cream base. Best served cold. For those who prefer it without buko (coconut) check out this recipe : Buko Pandan (No Buko) .
• Maja Jelly – a sweet almost cake like dessert with a corn base. Made with evaporated milk, condensed milk, thickened with cornstarch, cream of corn, thickened with sugar and jelly powder.
• Other sImple desserts include : your choice of coloring and flavoring of gulaman jelly (jelly dessert or your own flavoring to make a Fruit Jelly Dessert), cut into cubes mixed with nestle cream, you can also add flavorings like coffee to make the Coffee jelly recipe from mr gulaman, mix some sweetened all purpose cream and condensed milk combo and you’ve made a quick and easy coffee jelly dessert in just a few minutes.
• Use unflavored gulaman over gelatin for vegan or vegetarian desserts.

The Thrifty Pinay

Finance | Business | Empowering Women To Learn, Earn & Be Financially-Independent

How to Start a Siomai Business in the Philippines

By Ameena Rey-Franc

How to Start a Siomai Business in the Philippines:

Siomai is one of Asia’s most popular snack options. Before being hailed as a kanto -favorite appetizer in the Philippines, the origins of Siomai predate even before Magellan stepped foot in the country. Shaomai, as the Chinese describe it, originated in Inner Mongolia somewhere between the Ming (1368–1644) and Qing dynasties (1644-1912) of China. It reached the land of the rising sun where the Japanese called the steamed ball of meaty goodness Shumai . Until it reached the Philippines and became the siomai we all know and love.

With centuries building up to siomai’s popularity, it’s no wonder Pinoys are itching to get a bite whenever they see a vendor. If you’re interested but wondering how to start a siomai business in the Philippines, you came to the right place.

Is a Siomai Business profitable in the Philippines?

Before delving into the steps, it’s important to know if siomai is a good business, to begin with. When talking about siomai’s profitability, we have to look at the context surrounding it. Street food is an unceasingly popular business in the Philippines despite countless cautionary warnings from health bodies . Street food vendors rarely get zeroed out as long as there are students, office workers around, and bystanders around. It’s typically the usual suspects when talking about street food: fishball, kikiam, squid ball, kwek kwek, and siomai. 

If you’re an aspiring entrepreneur on a budget, a siomai business is a perfect start. Why? Well, it’s simple but highly profitable. Heard of that broke couple turned rich thanks to their siomai business that grosses 50,000 daily? Siomai businesses require low capital but they’re capable of earning large profits. Always remember, as long as people eat, a food business will never run out of customers.

Here are the necessary steps when Starting a Siomai Business in the Philippines

1. Do some market research

Siomai businesses are great. But there’s a caveat to the success story I mentioned earlier. They first started with fishball, kikiam, and banana cue. Newsflash, all those start-ups failed. The reason is simple, they didn’t do initial market research . The siomai business they put up was a hit and miss . They lucked out with siomai that’s why they made a fortune. 

When starting a business, the last thing you want is to establish something that’s bound to fail. Sadly, many startups suffer the same fate. The success of your business relies on good market research to warrant the business’s potential. Siomai is a good business , no doubt. But does your potential market share the same proclivity for siomai as you do, or are you simply and blindly holding on to a hope that they are?

To get you started, here are some queries you might want to answer first for a siomai business in the Philippines:

• Who are your target consumers?

Siomai is popular among office workers, students, internet cafe addicts, and bystanders. Is your location swarming with those people? Are they keen to eat quick siomai snacks over other options?

• What are your target audience’s spending habits?

Do customers go out of their way to have some good siomai meals? Do they prefer siomai with sticks or with rice? Do prospects prefer meals delivered?

• What does the market look like?

Will you sell in the city or the suburbs? Do you need a physical store, a stall, or are made-to-order meals acceptable enough?

• Who are your competitors?

Are there existing siomai sellers in your locality? Is competing with them a good idea? What value proposition can you offer to make their suki choose your solutions instead? 

2. Prepare your capital

Capital is another reason why comprehensive market research is imperative when starting a siomai business in the Philippines. Think about it. If you require a physical store to etch your siomai brand in the locality, you’ll need more money to start with. The capital you’ll be using is the gasoline that’ll keep the business running. You’ll use it for funding the materials, expenses, and overhead. If you want a smoother launch, you need to calculate your startup costs . Doing so will also help you estimate your profitability and growth potential. This is where your market research is for.

Let me give you an example. Say, your market investigation reveals that made-to-order meals are better compared to setting up a physical stall. You will require less capital to start than having to shell out more funds for a stall that wouldn’t significantly sell better. Again, your business is anchored on good market research.

• Related Post: 14 Time-tested Tips for Online Selling in the Philippines

3. Plan and prepare everything

Information and data are used for one thing: to make the right decisions. With market research backing your decision-making process, you are likely to make the right choices and minimize errors.

For example, if setting up a stall is a better direction than made-to-order meals, there are things you need to be aware of:

• First, your location. The location you choose should be strategic, where you can maximize impressions and conversions.
• Second, physical stores can’t get away without a DTI business permit . Make sure you have your business registered.
• Third, assess your operational costs or overhead. There’s more to business than your cost of goods sold, you’ll have utility bills, rent, and possibly labor costs that can sweep you off your feet.

Don’t be hasty to jump on the business seat. Plan everything first otherwise your “siomai” might turn to “oh my!”

4. Buy the equipment needed

Once you’ve got your gameplan fully furnished, then, only then, do you buy your equipment and ingredients. Here is a simple list to help you out:

• Food steamer
• Paper containers
• Sauce dispenser 
• Acrylic plastic juicer

Ingredients:

• Ready-made siomai (unless you plan on making your own)
• Garlic flakes

Gulaman? Yes, that is, if you’re willing to offer some refreshing palamig to your suki which is an added income stream. Check out this gulaman recipe here .

5. Find suppliers

Selling siomai in the Philippines is quite straightforward. The ingredients and equipment you need are not difficult to find. If you live anywhere in the Metro, you can easily scour Divisoria to find all things you need at a bargain. If not, you can always visit your local supermarket or wet markets to buy them.

If you want to get all things you need from the comfort of your home, there are online marketplaces to buy your things. Shops like NegosyoNow sells both food and non-food items like packaging materials. While stores like MK Kitchen may sell the kitchen supplies you need for the siomai business. Otherwise, you can seek popular siomai chains instead that provide all the things you need after your initial payment.

6. Price your products right

The cornerstone of every successful food business is not ONLY the quality of the product but also the price. All things being equal, Filipinos will normally gravitate toward the most affordable option. If you have a competitor, you may want to double down on the quality and pricing strategy. That will ensure you corner the market for your siomai business.

A popular pricing strategy you may want to try is the cost-plus pricing strategy . Basically, your products should account for all operational expenses and overhead costs associated with selling the siomai. This way, all your markup will be allocated towards profits. Needless to say, be reasonable with your profit margin.

• Related Post: How to Compute & Price Food Products (w/ example) Philippines

7. Marketing is key

In this age of the internet, more than half of the population is engaged in social media . The only way to dominate your industry is by getting a leg-up on your competition. Take advantage of facebook’s free platform to promote your business to friends and colleagues. You can also use the messaging app to reach out and seek people who are keen to try out your food products. If you plan on opening a physical store, register your siomai shop to Google My Business. This will ensure that you stay ahead of your competition through local SEO .

If you’re looking for a full list on how to promote and market your siomai business effectively, check out our guide on 20 Ways to Promote & Market Your Business in the Philippines .

Best Siomai Suppliers in the Philippines

If you’re looking for the best suppliers to get siomai ingredients and equipment, on-site visitation is always the best course of action. However, if it can’t be helped, here are some online resources you can visit. Always make sure to legit check these suppliers to avoid getting scammed.

Kitchen equipment suppliers

• NegoPinoy Trading
• IBCOM Kitchen Equipment
• Catering Depot Philippines
• MJD Industries, Inc.

Siomai suppliers:

• ACM Frozen Food Products Suppliers
• Great Food Solutions
• Maco’s Meat Products Direct Supplier
• Princess & Stacey’s Frozen Food Supplier

Packaging suppliers

• Binondo Street
• Packaging Depot Manila
• Grand Champ Packaging

Best Siomai Franchises in the Philippines

Below are some of the best siomai franchises you can reach out to if you plan on setting up your own siomai business in the Philippines. Make sure to read reviews and check references before fully committing to fully assess what you’re getting into.

• Master Siomai

Phone Number: 287095288

Website: http://www.mastersiomai.com/  

• Siomai King

Email: [email protected]  

Phone number: 0923 604 8805

Website: https://jcfranchiseinternational.com/  

• Ideal Siomai

Email: [email protected]  

Phone number: 0935 336 2107

• Siomai House Bernabest

Email: [email protected]

Phone number: 287096237

Website: https://www.siomai.house/  

• Dimsum Factory

Phone number: 284424884

Website: http://shop.dimsumfactory.ph/  

Siomai business is one of the best low-cost, high-profit startups you can put up in the Philippines. However, there are many overlying layers that you need to accomplish first before startup. Furthermore, you if you plan to try selling other frozen food, check out our article on How to Start a Frozen Food Business in the Philippines . We hope this article helped you if you plan on starting your own siomai business in the Philippines.

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Recognized as one of the Top Finance Blogs in the PH. Ameena Rey-Franc (founder of TTP) is a former Banker and BS Accountancy graduate turned Blogger, Keynote Speaker, and entrepreneur. Currently an RFP delegate, she is also the Author of a book about Financial Resilience and has held seminars for reputable companies like GrabFoodPH, Pru Life UK, VISA, JPMorgan Chase& Co., Paypal, Fundline, Moneymax, and many more. The Thrifty Pinay's mission is to empower women to LEARN, EARN, and be FINANCIALLY-INDEPENDENT no matter what life stage they are in.

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Panlasang Pinoy Recipes™

Panlasang Pinoy Recipes is a food blog created to share a collection of Filipino Recipes and foreign recipes that have been modified to suit Filipino taste.

How to Make Jelly Flan or Gulaman Flan

We Filipinos are crazy about desserts. A meal wouldn’t be complete without the final touch of a delightfully sweet and tasty dessert, right? Filipino cuisine has a massive selection of desserts such as Sago’t Gulaman, Buko Pandan , Cathedral Window , Coffee Jelly , Mango Jelly , I could go on and on! 

The desserts I’ve mentioned are all tasty and delicious! But did you notice one thing in common between all of them? That’s right, they all have Gulaman as their main ingredient! Belonging to a Filipino family who absolutely loves classic Filipino desserts, I believe that you should always have a pack of Gulaman in your kitchen for quick and easy dessert recipes. Gulaman is a gelatinous substance that is extracted from the seaweed after boiling it. These are then manufactured in sheets or powder that are easier to cook than gelatin. This is because the mixture of Gulaman dries a lot faster than gelatin. 

Moreover, Gulaman can also be prepared to become different shapes and colors that are perfect for countless Filipino desserts! Well, that’s exactly the case for our recipe today because we’ll be making Panlasang Pinoy Recipes’ delicious creation, the Jelly Flan/Gulaman Fan ! It’s a perfect combination of the iconic Leche Flan and Gulaman. Interesting, right? 

Are you excited? Well, I sure am and I can’t wait any longer so let’s begin!

Jelly Flan/Gulaman Flan Recipe

You don’t need to worry about anything! After all, our main ingredient for today is Gulaman which is a very easy-to-use ingredient for all kinds of desserts! Moreover, the cooking procedure is also very quick and simple so expect that we’ll be finished in no time. The ingredients can also be found easily in local supermarkets and grocery stores. So, are you all set? Let’s do it! 

To start, the ingredients we’ll need are eggs, evaporated milk, condensed milk, white sugar, vanilla extract, water, and Yellow unflavored gulaman. We need the yellow color of gulaman because we’ll be making a dessert similar to Leche Flan. 

Now, let’s start cooking! First, we’ll be making caramel. To do that, simply put the sugar and water into a llanera then gradually heat until the sugar becomes completely caramelized. Remember to follow a ratio of 1:2 for sugar and water respectively. Then, set the llanera aside and let the caramel cool down. 

Next up, we’ll now be making the flan mixture! Beat the eggs first and then add condensed milk, evaporated milk, and vanilla extract in one bowl. Mix all of the ingredients well until all the ingredients are incorporated with one another. Once you’ve done that, set it aside and let the mixture rest for about 15 minutes. 

We’ll now be making the gulaman mixture. Simply combine water, gulaman powder, and sugar in one pot. Stir the mixture constantly until the gulaman powder completely dissolves. Then, turn the heat on and keep on stirring until the mixture is brought to a simmer. After that, you can now add the flan mixture while still stirring thoroughly. As soon as the mixture approaches its boiling point, turn the heat off but don’t stop stirring until it cools down. 

Finally, pour the gulaman mixture into the molders and set it aside for a while to let it become firm. For best-tasting results, serve the Gulaman Flan chilled!

Voila! And just like that, you have successfully made your own version of the Gulaman Flan. Easy, right? I’m sure that you also enjoyed the cooking process so give yourself a pat on the back for a job well done! 

• 5 pcs. eggs
• 1 big can evaporated milk
• 1 big can condensed milk
• Yellow unflavored gulaman
• 1 cup white sugar(more if needed)
• 1 tbsp vanilla extract
• 4-5 cups water
• Put 1 tbsp. Sugar and 2 tbsp water in lyanera. Heat until caramelized sugar. Set aside
• In a bowl beat eggs. Add condensed milk, evaporated milk and vanilla. Mix well.
• Let it rest for 15 minutes
• Heat Off: Combine water, gulaman powder and sugar.
• Stir constantly until gulaman dissolves
• turn the heat on and bring to a simmer. Stir constantly
• Heat off. Add flan mixture gradually continue stirring
• When the mixture is about to boil turn the heat off
• Gently pour the gulaman mixture into the molders
• Set aside and let it firm
• Serve and enjoy!

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How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated March 18, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

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. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

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
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information you need to cover in a business plan sometimes isn’t quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

If you’re looking for a free downloadable business plan template to get you started, download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

Free business plan templates and examples

Kickstart your business plan writing with one of our free business plan templates or recommended tools.

Free business plan template

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How to write a business plan FAQ

What is a business plan?

A document that describes your business , 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.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. 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 when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

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.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of 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, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan
• Templates and examples

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Executive Summary of the Business Plan

How to Write an Executive Summary That Gets Your Business Plan Read

Susan Ward wrote about small businesses for The Balance for 18 years. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.

CP Cheah / Getty Images

An executive summary of a business plan is an overview. Its purpose is to summarize the key points of a document for its readers, saving them time and preparing them for the upcoming content.

Think of the executive summary as an advance organizer for the reader. Above all else, it must be clear and concise. But it also has to entice the reader to read the rest of the business plan .

This is why the executive summary is often called the most important part of the business plan. If it doesn’t capture the reader's attention, the plan will be set aside unread—a disaster if you've written your business plan as part of an attempt to get money to start your new business . (Getting startup money is not the only reason to write a business plan; there are other just-as-important reasons .)

Because it is an overview of the entire plan, it is common to write the executive summary last (and writing it last can make it much easier).

What Information Goes in an Executive Summary?

The information you need to include varies somewhat depending on whether your business is a startup or an established business.

For a startup business typically one of the main goals of the business plan is to convince banks, angel investors , or venture capitalists to invest in your business by providing startup capital in the form of debt or equity financing .

In order to do so you will have to provide a solid case for your business idea which makes your executive summary all the more important. A typical executive summary for a startup company includes the following sections:

• The business opportunity. Describe the need or the opportunity.
• Taking advantage of the opportunity. Explain how will your business will serve the market.
• The target market . Describe the customer base you will be targeting.
• Business model . Describe your products or services and and what will make them appealing to the target market.
• Marketing and sales strategy . Briefly outline your plans for marketing your products and services.
• The competition. Describe your competition and your strategy for getting market share. What is your competitive advantage, e.g. what will you offer to customers that your competitors cannot?
• Financial analysis. Summarize the financial plan including projections for at least the next three years.
• Owners/Staff. Describe the owners and the key staff members and the expertise they bring to the venture.
• Implementation plan. Outline the schedule for taking your business from the planning stage to opening your doors.

For established businesses the executive summary typically includes information about achievements, growth plans , etc. A typical executive summary outline for an established business includes:

• Mission Statement . Articulates the purpose of your business. In a few sentences describe what your company does and your core values and business philosophy.
• Company Information. Give a brief history of your company —d escribe your products or services, when and where it was formed, who the owners and key employees are, statistics such as the number of employees, business locations, etc.
• Business Highlights. Describe the evolution of the businesshow it has grown, including year-over-year revenue increases, profitability, increases in market share, number of customers, etc.
• Financial Summary. If the purpose of updating the business plan is to seek additional financing for expansion, then give a brief financial summary.
• Future goals. Describe your goals for the business . If you are seeking financing explain how additional funding will be used to expand the business or otherwise increase profits.

How Do I Write an Executive Summary of a Business Plan?

Start by following the list above and writing one to two sentences about each topic (depending on whether your business is a startup or an established business). No more! 

The Easy Way of Writing One

Having trouble getting started? The easiest way of writing the executive summary is to review your business plan and take a summary sentence or two from each of the business plan sections you’ve already written.

If you compare the list above to the sections outlined in the  Business Plan Outline , you’ll see that this could work very well.

Then finish your business plan’s executive summary with a clinching closing sentence or two that answers the reader’s question, “Why is this a winning business?”

For example, an executive summary for a pet-sitting business might conclude: “The loving on-site professional care that Pet Grandma will provide is sure to appeal to both cat and dog owners throughout the West Vancouver area.”

(You may find it useful to read the entire Pet Grandma  executive summary example  before you write your own.)

Tips for Writing the Business Plan’s Executive Summary

• Focus on providing a summary.  The business plan itself will provide the details and whether bank managers or investors, the readers of your plan don’t want to have their time wasted.
• Keep your language strong and positive.  Don’t weaken your executive summary with weak language. Instead of writing, “Dogstar Industries might be in an excellent position to win government contracts,” write “Dogstar Industries will be in an excellent position.”
• Keep it short–no more than two pages long . Resist the temptation to pad your business plan’s executive summary with details (or pleas). The job of the executive summary is to present the facts and entice your reader to read the rest of the business plan, not tell him everything.
• Polish your executive summary.  Read it aloud. Does it flow or does it sound choppy? Is it clear and succinct? Once it sounds good to you, have someone else who knows nothing about your business read it and make suggestions for improvement.
• Tailor it to your audience.  If the purpose of your business plan is to  entice investors , for instance, your executive summary should focus on the opportunity your business provides investors and why the opportunity is special. If the purpose of your business plan is to get a small business loan , focus on highlighting what traditional lenders want to see, such as management's experience in the industry and the fact that you have both collateral and strategies in place to minimize the lender's risk.
• Put yourself in your readers’ place. And read your executive summary again. Does it generate interest or excitement in the reader? If not, why? Also try giving it to a friend or relative to read, who is not engaged in the business. If you've done a good job on the executive summary, an impartial third party should be able to understand it.

Remember, the executive summary will be the first thing your readers read. If it's poorly written, it will also be the last thing they read, as they set the rest of your business plan aside unread.

Office of the Comptroller of the Currency. " Business Plan Guidelines ," Page 2.

Corporate Finance Institute. " Executive Summary ."

United Nations Conference on Trade and Development. " How to Prepare Your Business Plan ," Page 167.

Iowa State University. " Types and Sources of Financing for Start-up Businesses ."

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

Clute Institute. " Using Business Plans for Teaching Entrepreneurship ," Page 733.

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New York Takes Crucial Step Toward Making Congestion Pricing a Reality

The board of the Metropolitan Transportation Authority voted to approve a new $15 toll to drive into Manhattan. The plan still faces challenges from six lawsuits before it can begin in June.

By Winnie Hu and Ana Ley

New York City completed a crucial final step on Wednesday in a decades-long effort to become the first American city to roll out a comprehensive congestion pricing program, one that aims to push motorists out of their cars and onto mass transit by charging new tolls to drive into Midtown and Lower Manhattan.

The program could start as early as mid-June after the board of the Metropolitan Transportation Authority, the state agency that will install and manage the program, voted 11-to-1 to approve the final tolling rates, which will charge most passenger cars $15 a day to enter at 60th Street and below in Manhattan. The program is expected to reduce traffic and raise $1 billion annually for public transit improvements.

It was a historic moment for New York’s leaders and transportation advocates after decades of failed attempts to advance congestion pricing even as other gridlocked cities around the world, including London, Stockholm and Singapore, proved that similar programs could reduce traffic and pollution.

While other American cities have introduced related concepts by establishing toll roads or closing streets to traffic, the plan in New York is unmatched in ambition and scale.

Congestion pricing is expected to reduce the number of vehicles that enter Lower Manhattan by about 17 percent, according to a November study by an advisory committee reporting to the M.T.A. The report also said that the total number of miles driven in 28 counties across the region would be reduced.

“This was the right thing to do,” Janno Lieber, the authority’s chairman and chief executive, said after the vote. “New York has more traffic than any place in the United States, and now we’re doing something about it.”

Congestion pricing has long been a hard sell in New York, where many people commute by car from the boroughs outside of Manhattan and the suburbs, in part because some of them do not have access to public transit.

New York State legislators finally approved congestion pricing in 2019 after Gov. Andrew M. Cuomo helped push it through. A series of recent breakdowns in the city’s subway system had underscored the need for billions of dollars to update its aging infrastructure.

It has taken another five years to reach the starting line. Before the tolling program can begin, it must be reviewed by the Federal Highway Administration, which is expected to approve it.

Congestion pricing also faces legal challenges from six lawsuits that have been brought by elected officials and residents from across the New York region. Opponents have increasingly mobilized against the program in recent months, citing the cost of the tolls and the potential environmental effects from shifting traffic and pollution to other areas as drivers avoid the tolls.

A court hearing is scheduled for April 3 and 4 on a lawsuit brought by the State of New Jersey, which is seen as the most serious legal challenge. The mayor of Fort Lee, N.J., Mark J. Sokolich, has filed a related lawsuit.

Four more lawsuits have been brought in New York: by Ed Day, the Rockland County executive; by Vito Fossella, the Staten Island borough president, and the United Federation of Teachers; and by two separate groups of city residents.

Amid the litigation, M.T.A. officials have suspended some capital construction projects that were to be paid for by the program, and they said at a committee meeting on Monday that crucial work to modernize subway signals on the A and C lines had been delayed.

Nearly all the toll readers have been installed, and will automatically charge drivers for entering the designated congestion zone at 60th Street or below. There is no toll for leaving the zone or driving around in it. Through traffic on Franklin D. Roosevelt Drive and the West Side Highway will not be tolled.

Under the final tolling structure, which was based on recommendations by the advisory panel, most passenger vehicles will be charged $15 a day from 5 a.m. to 9 p.m. on weekdays, and from 9 a.m. to 9 p.m. on weekends. The toll will be $24 for small trucks and charter buses, and will rise to $36 for large trucks and tour buses. It will be $7.50 for motorcycles.

Those tolls will be discounted by 75 percent at night, dropping the cost for a passenger vehicle to $3.75.

Fares will go up by $1.25 for taxis and black car services, and by $2.50 for Uber and Lyft. Passengers will be responsible for paying the new fees, and they will be added to every ride that begins, ends or occurs within the congestion zone. There will be no nighttime discounts. (The new fees come on top of an existing congestion surcharge that was imposed on for-hire vehicles in 2019.)

The tolls will mostly be collected using the E-ZPass system. Electronic detection points have been placed at entrances and exits to the tolling zone. Drivers who do not use an E-ZPass will pay significantly higher fees — for instance, $22.50 instead of $15 during peak hours for passenger vehicles.

Emergency vehicles like fire trucks, ambulances and police cars, as well as vehicles carrying people with disabilities, were exempted from the new tolls under the state’s congestion pricing legislation .

As for discounts, low-income drivers who make less than $50,000 annually can apply to receive half off the daytime toll after their first 10 trips in a calendar month. In addition, low-income residents of the congestion zone who make less than $60,000 a year can apply for a state tax credit.

All drivers entering the zone directly from four tolled tunnels — the Lincoln, Holland, Hugh L. Carey and Queens-Midtown — will receive a “crossing credit” that will be applied against the daytime toll. The credit will be $5 round-trip for passenger vehicles, $12 for small trucks and intercity and charter buses, $20 for large trucks and tour buses, and $2.50 for motorcycles. No credits will be offered at night.

Grace Ashford contributed reporting.

Winnie Hu is a Times reporter covering the people and neighborhoods of New York City. More about Winnie Hu

Ana Ley is a Times reporter covering New York City’s mass transit system and the millions of passengers who use it. More about Ana Ley

I moved to Puerto Rico from New Jersey with my partner. Rent is cheaper, the weather is warmer, and we plan to stay.

• Jarrell Chalmers and his partner, Jose Diaz, moved to Puerto Rico to escape high rents in Jersey City.
• They work remotely in marketing but have also started a coffee company to support local farms.
• Despite higher grocery prices, they find life in Puerto Rico rewarding and have integrated well.

This as-told-to essay is based on a conversation with Jarrell Chalmers, a 31-year-old marketing consultant in San Juan, Puerto Rico. The following has been edited for length and clarity.

I'm from Jersey City, and my partner, Jose Diaz, is from Hartford, Connecticut. We lived in Jersey City before moving to San Juan, Puerto Rico , last April.

We're both of Puerto Rican origin — my mom and Jose's father were both born in San Juan — and we always knew that we wanted to experience it by living here.

Although our Spanish is a little shaky, it's improving, and integrating on the island has been pretty easy for us. We make it a habit to order our food, greet new people, and talk to our neighbors in Spanish.

We both work remotely as independent marketing contractors . None of our clients mind us living in Puerto Rico.

During the pandemic, rents skyrocketed in Jersey City

Jersey City became super expensive when the pandemic hit, and the quality of life wasn't the same as it used to be. We were working every single day just to make ends meet.

The cost of living is one of the main reasons we wanted to move to Puerto Rico. Here, our rent is about $700 cheaper a month. We stayed in an Airbnb for one month before moving and finding our apartment online.

We loved it when we visited, especially as Puerto Ricans who really love our culture. Not having to deal with seasonal depression in New Jersey has also been a bonus.

Before we moved, we gave away a lot of our furniture. We bought some from Amazon and everything else we sourced locally to support businesses on the island.

Rent is cheaper, but groceries are more expensive

Groceries are pricier due to laws like the Jones Act , which raises the price of many imports into the island. Farmers' markets can be good value, and Costco tends to be a bit cheaper than in New Jersey, but many places to buy groceries here are quite expensive.

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We can still get about 90% of the things we need on Amazon. If we can't get it shipped here, we use a website called Myus.com which ships things over from Florida.

The ugly side of relocating is the displacement of locals, but many have welcomed us with open arms

In January, I was down with COVID-19, and one of my neighbors dropped off a care package with a ton of medicine, tests, and home remedies. How people have treated us in this city is a big part of why we moved here.

But when many people move to a place, the rents rise, and locals can no longer afford to live there . Rents and house prices have risen considerably in recent years in Puerto Rico .

To help combat this, we've been giving back to people on the island in practical ways. We help locals with their résumés and cover letters for free.

We've grown a following on TikTok and Instagram , and we share where we eat, how we save money, grocery hacks, remote working tips, and recipes. We end many of our videos by asking our followers to comment if they need help.

They then email us their résumés and we tailor them to the jobs that they want. We've also been posting content on how to get remote jobs in Puerto Rico for Puerto Ricans.

We started our own coffee brand to promote local farms

We decided to start a company doing something that we actually enjoyed and could help us give back to the local area, so we created a coffee brand called Planeta De Cafe .

The objective is to amplify local farms on the island. For every sale we get, we donate $1 to a nonprofit called Puerto Rico Rise Up that's teaching students how to get more competitive jobs.

We post about our coffee company on our TikTok, too. Our dream is to take our coffee business and content creation full-time.

We share some of the negative parts of living here with our audience

People grew accustomed to us sharing the beautiful side of the island, so when we finally spoke on the dark side of it, I think some people were thrown off. We discussed the split between native and American-raised Puerto Ricans, the crowded hospitals, and the frequent power outages.

In some cases, tourists come and don't treat the island with care and respect. Since there are those who mistreat the island when they visit, tensions can be high.

We think it's important to shed light on real issues so more people are encouraged to work on and fix them.

Adjusting to the pace of life here has been hard at times, but ultimately rewarding

Back in New Jersey, everything's very fast-paced. Over here, everything's very slow . If you go to a restaurant, it will take 30-40 minutes to get food. You might have to wait a long time for a package or for your WiFi to get installed.

Things move slowly because people in Puerto Rico live in the moment, and that's what we love about it.

We miss our family and friends, but they visit often and stay in our spare room. For now, we plan on staying long term.

We've decided to build a life here. Our families left the island decades ago to find opportunities in the States. They found that opportunity and raised us to be self-sufficient. We're happy to return to our family's roots now that we are.

Watch: Marriott International's Tina Edmundson tells Insider that the travel mindset has changed since the pandemic

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The Industrial and Commercial Bank of China (ICBC) said on Thursday it will support moves underway in the world's second-largest economy to stabilise its property market.

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