MAKE YOUR FREE Business Plan
What we'll cover
What is a Business Plan?
When should I use a Business Plan?
Use this Business Plan:
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to secure funding from investors for your business
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to set out in detail how you will use the investment to grow your business
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to set clear goals and a strategy to grow your business
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to create a roadmap for your business
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for businesses located in England, Wales or Scotland
Sample Business Plan
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BUSINESS PLAN FOR
TABLE OF CONTENTS
1. BUSINESS DETAILS
2. EXECUTIVE SUMMARY
3. BUSINESS OVERVIEW
4. MARKETING ANALYSIS
5. MARKETING
6. OPERATIONS
7. MANAGEMENT TEAM
8. FINANCIAL OVERVIEW
BUSINESS DETAILS
EXECUTIVE SUMMARY
is a, specialising in within the industry.
Management Team
Role:
Ownership Structure of Business
Owner(s):
BUSINESS OVERVIEW
Overview: The business specialises in .
Unique Selling Points (USP)
MARKET ANALYSIS
Target Market Description
Specific Segment of Market to be Targeted
Competitive Landscape
Set out below are the names of the business's key competitors with a summary of what they do and why they are key competitors.
Competitor name | Summary of the competitor's business | Why are they a competitor? |
|---|---|---|
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MARKETING
Pricing Plan
Price:
Level of pricing compared to competitors:
Sales and Marketing Techniques
We will use the following marketing techniques:
Sales Processes
We anticipate using the following sales processes:
OPERATIONS
Employees Required
Employee role | Number | Duties |
|---|---|---|
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MANAGEMENT TEAM
Skills and Experience of Business Owners
Role:
Skills and experience:
FINANCIAL OVERVIEW
Financial Requirements:
Total funding required: £
Investment categories:
About Business Plans
Learn more about making your Business Plan
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How to make a Business Plan
Making a Business Plan online is simple. Just answer a few questions and Rocket Lawyer will build your document for you. When you have all of the details prepared in advance, making your document is a quick and easy process.
To make your Business Plan, you will need the following information:
Business details
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What is the structure of the business?
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What is the name and address of the business?
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What are the business’ contact details (eg email, website and phone number)?
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What industry does the business operate in?
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What does the business specialise in?
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What is the business’ unique selling point (USP)?
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Does the business provide products and/or services and what are they?
Market
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What is the target market of the business?
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What market segment is the business targeting?
Competitors
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What are the main competitors of the business and why are they competitors?
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Is a SWOT analysis required for this plan? If so:
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What are the strengths of the business?
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What are the disadvantages of the business and how will they be overcome?
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What are opportunities for the business?
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What threats are there to the business and what are the relevant contingency plans?
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Pricing
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What is the business’ pricing strategy?
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How does the business’ pricing strategy compare to those of competitors?
Marketing and sales
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What are the business’ marketing techniques?
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What are the business’ sales methods?
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Will existing customers who have expressed an interest in the business' product(s) and/or service(s) be listed? If so, what are their names?
Essentials
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Will the business need:
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Licences? If so, what licences are needed?
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Equipment or machinery? If so, what equipment or machinery is needed?
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Suppliers? If so, what suppliers are required?
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What insurance will the business need?
Staff and investors
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What are the details of the management team (ie name, role and relevant experience)?
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What are the details of any employees needed (eg their roles, duties and the number of employees)?
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Does the business have any investors? If so, what are their details (eg their name and relevant background information)?
Financial plan and funding
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Will a financial plan be included? If so:
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What are the details of the financial plan (ie the relevant financial year, the expected sales, the expected costs and the expected gross profit)?
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What funding is required for the business?
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Where will the funding be invested?
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Common terms in a Business Plan
Business Plans are used by entrepreneurs and business founders to outline their business’ operational and financial objectives and their strategies for achieving them. To facilitate this, and to help a business secure funding, this Business Plan covers:
Business details
This section provides the basic details of your business. These include:
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the business’ name
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the business owner’s (ie your) details
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the business’ contact details
Executive summary
This section provides an overview of the business without going into detail. The executive summary provides enough information for any potential investors to decide whether or not to read the rest of your Business Plan.
Business overview
This section provides greater detail on what the business does. This includes:
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what the business specialises in
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what goods and/or services the business provides
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the business’ unique selling point
Market analysis
This section provides details of the business’ target market and the specific segment of the market that the business is targetting. It also sets out the competitive landscape in which the business will operate, including details of relevant competitors.
SWOT analysis
If relevant to your Business Plan, this section includes a SWOT matrix. These matrices include a business’:
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strengths (ie the business’ internal positive attributes, whether they’re tangible or intangible)
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weaknesses (ie the internal aspects of your business that detract from the value you offer or place you at a competitive disadvantage)
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opportunities (ie external attractive factors that represent reasons for your business to exist and prosper)
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threats (ie external factors beyond your control that could put your business at risk) and any relevant contingency plans
Marketing
This section details the business’ marketing strategy. This covers the business’:
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pricing plan
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sales and marketing techniques
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sales processes
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existing potential customers (where relevant)
Operations
This section details the assets and personnel needed to run the business. This includes:
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employees
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licences
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insurance
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machinery and equipment
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relevant suppliers
Management team
This section provides details of the management team. This includes the skills and experiences of all business owners and the background of any existing investors.
Financial overview
This section provides an overview of the financial requirements of the business and how any funding will be used. Where relevant, it also sets out the business’ projected profits and losses.
If you want your Business Plan to include further or more detailed provisions, you can edit your document. However, if you do this, you may want a lawyer to review or change the Business Plan for you, to make sure it complies with all relevant laws and meets your specific needs. Ask a lawyer for assistance.
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Legal tips for making a Business Plan
Consider your business structure
Your Business Plan will outline what business structure you wish to operate as. Generally, your chosen structure will depend on the specifics of your situation and whether you’re willing to take on the effort of registering your business. You should consider incorporating your business as a private limited company (LTD) or a limited liability partnership (LLP) to protect your personal assets in case of legal disputes or financial difficulties. For more information, read Choosing your business structure.
Name your business
An important aspect of starting a business is choosing a name. It’s worth thinking about future expansion plans and whether the name will remain relevant. Bear in mind that your business name should not cause any offence, be misleading, or give rise to any obvious confusion. It’s always a good idea to use the Companies House name availability checker and UK Intellectual Property Office’s Trade Marks Register to see whether your proposed name is available and to ensure it doesn’t infringe on anyone’s existing trade mark. For more information, read How to choose a name for your business.
Remember to include visuals in your Business Plan
If you are using your Business Plan to secure funding for your business, consider incorporating visuals into your Plan. By including relevant visuals (eg graphs, logos, mockups and visual representations of the design process) you help engage the attention of potential investors.
Protect your business
To protect your developing business and any confidential information (eg intellectual property) you may disclose in your Business Plan, it is a good idea to consider using non-disclosure agreements. If your Business Plan involves any new inventions, consider applying for a patent.
If you have chosen a name for your business, you should secure a domain name (ie the electronic address for a website address) for your business website and set up any relevant social media accounts for your business. Similarly, once you have created your brand, you should consider registering trade marks and/or design rights that represent your business.
Understand when to seek advice from a lawyer
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if this document does not meet your business needs
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for further advice on Business Plans
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if you want to make a business plan for a business other than a private company limited by shares, general partnership, LLP or sole trader operation (eg an unincorporated association)
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Business Plan FAQs
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What should a Business Plan include?
This Business Plan template covers:
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an executive summary
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a business overview
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a marketing plan and strategy
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the management team
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financial information and funding requirements
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an optional SWOT analysis
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What do I need to know before I complete my Business Plan?
Before starting your Business Plan, you should know:
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who the business owners are/will be and the ownership structure (eg the share percentage that a named owner holds in the business)
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the funding amount
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what your business will sell and for how much
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the marketing strategy (eg online advertising) and market analysis (eg identifying competitors)
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who the management team is and how you will run your business as an operation (read Writing a business plan - management team operations and logistics for more information)
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the projected business revenue for at least the first year of business
For more information, read What is a business plan.
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What is the purpose of a Business Plan?
Creating a Business Plan helps you define your long-term goals and how you intend to achieve them, conveying confidence to potential investors.
A Business Plan is extremely useful for any business seeking investment. It shows potential investors why your product or service will be successful by setting out clear objectives and a strategy for growing your business. Writing a Business Plan will help you set a realistic timeline for repaying investments while conveying confidence to potential investors.
Remember that Business Plans’ content will depend on the specifics of your business. Do not hesitate to Ask a lawyer for assistance drafting your document or if you would like a bespoke Business Plan drafted.
For more information, read What is a business plan.
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How long should a Business Plan be?
There is no set length for your Business Plan. Your Business Plan should be as long as necessary to effectively outline and convey your business idea and strategy. Most Business Plans will be between 15 and 30 pages long. However, depending on the complexity of your business, the amount of information you need to include, and the number of visuals (eg graphs, logos, mockups and visual representations of the design process), your Business Plan may be longer or shorter.
In all circumstances, it is essential that your Business Plan accurately represents your business in order to help you secure the necessary funding to start or grow your business. When making your Business Plan, it’s important that you find a balance between providing the necessary information and being concise and to the point.
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What is an executive summary?
An executive summary, or statement of purpose, is a short and precise description of your business, which is meant to grab your potential investors’ attention when they first look at your Business Plan. It details the business’ purpose and operations, identifies the management team, and outlines the financial projections. Consider including visuals (eg graphs and visual financial projections) in your Plan.
Read Writing a business plan - executive summary and business outline for information on how to draft an executive summary.
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What financial information should a Business Plan include?
Your Business Plan should include detailed financial information to prove that you have a clear understanding of the all-important monetary aspects of running a business. Financial information covers:
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the amount of investment you are seeking
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the expected profit and loss statement (ie expected revenues and expenses)
To find out more about how to elaborate on your financial plan, read Writing a business plan - financial information and requirements.
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What are projected profits and losses?
If needed, this Business Plan covers the business’ projected profits and losses. A profit and loss statement (also known as a ‘P&L statement’ or ‘financial plan’) is the part of your Business Plan that outlines the business’ financial projections and expectations. Generally, your Business Plan should provide protected profits and losses covering the first 5 years of your business’ operation. The P&L statement should cover your business’:
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expected sales (this is the product and/or service price multiplied by the number of items sold)
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expected costs (this should include all expected business costs, including rent, salaries and electricity)
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expected gross profit (this is what is left after costs have been deducted from business revenue)
For more information, read Writing a business plan - financial information and requirements.
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What is a marketing strategy?
A marketing strategy sets out the long-term plan for how you are going to grow your business. It starts with market research and analysis, which identifies your target customers and your competitors. Your marketing strategy should include:
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pricing strategies
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promotion techniques (eg online advertising)
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sales methods
Consider including visuals (eg logos, mockups and visual representations of any designs) in your Plan.
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What is a SWOT analysis?
A SWOT analysis (or ‘matrix’) can increase your business awareness and provide a valuable addition to your Business Plan. It’s split into four sections:
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strengths - detailing the strengths of your particular business, whether it’s management skill sets, industry knowledge or a specialist resource
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weaknesses - detailing any weaknesses of your business (especially compared to competitors) and how you plan to overcome them
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opportunities - detailing why your business will succeed
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threats - detailing any threats to your business (ie why your business may not succeed) and any contingency plans to deal with such threats
Examining your business and the sector in which it operates is intrinsically valuable, as it helps you to make strategic decisions and to prevent disasters by planning ahead.
Read Writing a business plan - SWOT analysis for more information.
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