business plan manuscript should contain the following contents

Use This Business Plan Format to Expertly Write Your Plan

Written by Dave Lavinsky

When you’re starting a new business, having a solid business plan is super important. But knowing how to format that plan can be tricky. A good business plan format helps you organize your ideas, set clear goals, and show others why your business will succeed. In this guide, we’ll break down what a business plan format should look like, so you can create a plan that’s easy to follow and gets you the results you want. Whether you’re looking for investors or just want a clear path forward, getting your business plan format right is the first step to success.

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How to Format Your Business Plan: The Cover Sheet

Every business plan should begin with a simple business plan cover page including the business name, your name and contact information. An easy to read table of contents should follow.

Example Business Plan Table of Contents

I: Executive Summary      a. Business Overview      b. Success Factors      c. Financial Highlights

II: Company Overview      a. Who is [Company Name]?      b. [Company Name]’s History      c. [Company Name]’s Products & Services

III: Industry Analysis      a. Industry Trends

IV: Customer Analysis      a. Customer Segmentation

V: Competitive Analysis      a. Direct & Indirect Competitors      b. Competitive Advantage

VI: Marketing Plan      a. The [Company Name] Brand      b. Promotions Strategy      c. Pricing Strategy

VII: Operations Plan      a. Functional Roles      b. Goals and Milestones

VIII: Management Team      a. Management Team Members      b. Hiring Plan

IX: Financial Plan      a. Revenue Model      b. Revenue and Cost Drivers      c. Key Assumptions & Forecasts

X: Appendix

The cover sheet should leave no question for readers to be able to identify the business plan when it is in a stack with dozens of others on their desk. The table of contents allows them to easily refer to sections within the plan. For example, after reading the executive summary, some investors with an eye for numbers may turn directly to the financial plan and statements. Proper business plan format allows readers to quickly get the information they want.

Example Business Plan Format

There are 10 business plan components or sections that every entrepreneur and business owner must include in their plan. These include:

• Executive summary
• Company overview
• Industry analysis
• Customer analysis
• Competitive analysis
• Marketing plan
• Operations plan
• Management team
• Financial plan

You should recognize these if you’ve ever worked with the best business plan template .

Formatting your business plan with charts and graphs is welcomed to break up long blocks of text. However, charts and graphs shouldn’t be used for their own sake. They must make the information easier to pass on than text would.

The business plan format that investors and lenders expect includes the following 10 sections. You can download our business plan format PDF here, to help you get started. We’ve included important notes in each section specific to business plan formatting to help you as you write your plan.

1. Start with Your Executive Summary

An executive summary gives readers a crisp overview of your business at the start of your plan. This section should not be more than two pages long and should include the following:

• What is the business about?
• Where and why did the idea of the business originate?
• Who are the owners?
• Which industry is it operating in?
• What is its core function?
• Where is it located?
• How is it going to make money?
• How much money (if any) is it already making?
• What are its financial projections?

The best format for your executive summary is paragraphs. Utilizing bullets and headings is also useful formatting within an executive summary, as it aids the reader in scanning the content on the page.

2. Company Overview Section

The company overview is the perfect place to highlight the strengths of your business. This section gives the reader additional information about your products and/or services and describes your company’s past accomplishments.

Including the below in this section will provide further clarity about your business:

• What type of business you are (e.g., C-Corporation, sole proprietor)
• When your business started
• Business’ accomplishments to date

The best formatting to use in this section is paragraphs to describe your company’s strengths and products/services. You should also include a chart that outlines your company’s achievements to date.

3. Industry or Market Analysis

The industry or market analysis gives the reader a clear understanding of your industry and the audience it serves. It includes a detailed explanation of your market size and trends.

Typically, the format of this section should be paragraphs. Feel free to include charts and graphs to best convey the information to the reader.

4. The Customer Analysis States Who Your Customers Are and What They Need

In this section of your plan, explain who your target customers are and identify their specific needs. Doing this will help you better target and attract customers.

5. Competitive Analysis

The Competitive Analysis section identifies your direct and indirect competitors. It discusses who they are and their strengths and weaknesses. It then details your areas of competitive advantages.

Whether your competitors are small or large businesses, describe them. Telling investors there are no competitors (big or small) often gives the impression that a market does not exist for your company.

With regards to formatting, use paragraphs to describe each competitor. As appropriate, adding a competitor matrix to show similarities and differences between your company and the competition can be very powerful.

6. Your Marketing Plan is a Key Section

The marketing & sales section of your business plan should outline how you plan to attract new customers and retain old ones. This section should outline the ways customers can be introduced to and engage with your offerings and describe how you will convert these prospects into paying customers.

Set marketing objectives that include the following (if applicable):

• Introducing new products
• Extending the market reach
• Exploring new markets
• Boosting sales
• Cross-selling
• Creating a long-term partnership with clients
• Increasing prices without affecting sales
• Creating a content marketing strategy

Organize your Marketing Plan into the 4 P’s – Price, Product, Promotions and Place. If you have multiple products or services, include a menu with each key item and its price.

7. The Operations Plan Format

Your Operations Plan identifies your key operational processes and milestones you expect to accomplish. Using a Gantt chart is a great way to show your expected future milestones. You can also format this section with tables that document the dates of future milestones.

8. You Need to Prove Your Management Team Can Execute

“A company is only as good as the people it keeps.” – Mary Kay Ash, American Entrepreneur and Businesswoman

The Management Team section of your business plan focuses on the people who run the business.

Who are the decision-makers, who is the product expert, who is the operations head, and who is running the entire show? A glimpse into the expertise and capabilities of your team members and how their experiences will help grow your business will boost stakeholder confidence.

To improve the formatting and best convey your management team to readers, consider adding an organizational chart that shows your team members and reporting structure.

9. Format Your Financial Plan

The goal of this section is to convince the reader that your business is stable and will be financially successful. Arm this section with past and/or forecasted cash flow statements, balance sheets, profit & loss statements, expense budgeting and sales forecasts.

If you run an operational business, include 3 years of historical data to help investors gain an understanding of how feasible your funding request is and if your business is capable of generating good returns.

Also include your funding request, if applicable, in this section. You should mention how much investment is required to take your business to the next significant milestone and how the money will be spent. You should also define if you are seeking debt or equity funding. If you are seeking debt financing like an SBA loan, ensure your financial projections include the debt and show steady repayments of both the principal and return under reasonable loan terms.

If you are seeking equity financing, you don’t need to include your valuation expectations in the business plan, but you should be aligned within your ownership team on the amount of equity you are willing to exchange before you pitch investors.

Example Financial Plan

Projected sales, gross profit & net income.

5 Year Annual Income Statement

5 year annual balance sheet, 5 year annual cash flow statement, 10. appendix.

This section includes supporting documentation of your business case. This could include renderings of a planned store location, market research reports referenced in the plan, key supplier or buyer contracts that substantiate your financial projections or historical marketing and sales data.

Formatting Your Business Plan

Overall, business plans should use simple and standard formatting. Twelve point font size in a standard font like Arial or Times New Roman is best, as well as the standard margin size of one inch on each side. Pages should be numbered, and the name of the company should appear on each page in the header or footer.

Use charts whenever possible as it makes it much easier for readers to consume the information in your plan.

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Start » startup, writing a business plan here's how to do it, section by section.

Looking to develop a business plan for your new venture? Here's what to include in each section.

At the foundation of every strong business is a solid business plan. A business plan outlines important information regarding a company's operations and goals and serves as a blueprint for achieving those goals. This document helps entrepreneurs plan and research their venture thoroughly and demonstrates to investors the viability of the business.

If you're looking to develop a business plan for your new venture, including all the necessary information is important. Here are the nine sections to include in a strong business plan, as well as some best practices to make your plan work for you.

Executive summary

Your business plan begins with an executive summary, which outlines what your company is about and why it will succeed. This section includes your mission statement, a brief description of the product or service you are offering, a summary of your plans, and basic logistical details about your team.

Some entrepreneurs write their executive summary last, even though it's the first section of the plan. An executive summary is just that: a summary. Leaving it for last means you have a better sense of the information within the plan that needs to be highlighted right away.

Company description

Your company description should further detail the logistics of your business, such as its registered name, address, and key people involved. Here, you should also provide specific information about your product or service, including whom your business serves and what problem you solve for that population.

This section can also be an opportunity to describe some of the more intangible aspects of your business, such as your principles, ideals, and cultural philosophies. In your company description section write about your brand values, long- and short-term goals, and vision or mission.

"Your statement should explain, in a convincing manner, why your business exists, and should be no longer than a single sentence," wrote Shopify .

Market analysis

Conducting thorough market research can help you understand the nature of your industry as well as how to stand out from competitors.

"Simply put, your market analysis shows that you've done your research," wrote NerdWallet . "Overall, a market analysis will yield invaluable data if you have limited knowledge about your market, the market has fierce competition, and if you require a business loan."

Consider any emerging trends or themes, what other successful businesses in the field are doing (or failing to do), and how your business can do better. Include a summary of your research findings in this section.

[Read more: How to Conduct a Market Analysis ]

Organization and management

This section should include your business's legal structure — for example, whether you are incorporating as an S or C corporation, forming a partnership, or operating as a limited liability company (LLC) or sole proprietor. Detail the type of entity you plan to form as well as what licenses you need, where you plan to register, and any permits you plan on getting.

Investors also want to know who is in charge of your entity. "Many investors say they bet on the team behind a business more than the business idea, trusting that talented and experienced people will be capable of bringing sound business concepts to life," wrote Bank of America .

If you have a leadership team in place, detail the roles and expertise of each member, including each relevant individual’s percent of ownership and the extent of their involvement. If you're still considering hiring, identify the roles for which you will hire and your timeline for doing so.

Products/services

Your product or service is the crux of your business idea, so you want to make a strong case for its purpose and role in the market. Use this section to elaborate on your product or service throughout its life cycle, including the following:

• How it works.
• Whom it serves.
• What it costs.
• Why it is better than the competition.

If you have pending or current intellectual property, include this information. In this section, you can also provide details of any research and development for your product or service.

As you write your business plan, think of it as a flexible road map built to adjust to your business journey.

Marketing and sales

In this section, explain your marketing and sales strategies and how you will execute them. (Note that these strategies will likely evolve, and you can always adjust as needed.)

This section is where you identify your ideal customer, discuss how you will reach them, and describe how your messaging will resonate with this audience. Describe how you will attract and retain your customer base, including what makes you stand out from competitors, and detail the actual sales process.

Use data from your market analysis section as evidence in your marketing and sales strategy. "Your marketing efforts are directly informed by your ideal customer. That's why, as you outline your current decisions and future strategy, your marketing plan should keep a sharp focus on how your business idea is a fit for that ideal customer," wrote Shopify .

[Read more: 5 KPIs to Measure Your Business's Marketing Success ]

Funding request

If you're seeking funding, this section is critical so investors understand the level of funding you need. Specify what type of funding you need ( debt or equity ) and how much, as well as how that capital will be used.

Existing businesses should perform a financial analysis and provide key financial documents , including income or profit and loss statements, a balance sheet that lists your assets and debts, and a cash flow statement that shows how cash comes into and goes out of the company. You should also include information on future financial plans, such as selling your business or paying off debts.

Financial projections

The goal of the financial projections section is to show that your business is viable and worth the investment. Offer a financial forecast for the next five years using information from current or projected income statements, balance sheets, and cash flow statements to support it. Graphs and charts can be especially helpful in visualizing your business's finances.

Finally, use the appendix for any information that could not fit or did not apply to other sections of the document. Information such as employee resumes, permits, credit history, and receipts are often included in this section. If you have a long appendix, consider adding a table of contents to make it easier for the reader.

Common mistakes to avoid in a business plan

The biggest mistake entrepreneurs make when they first start out is not having a business plan at all, so if you've started drafting one, you're ahead of the curve.

However, just because you make a plan doesn't mean you’re done. Business plans are meant to be living documents that you revisit as needed.

"Now more than ever, as we deal with the crisis of 2020 and 2021, stop thinking of the business plan as just a plan," wrote BPlans . "That conceptual mistake blocks you from the enormous benefits of planning as a process, with regular review and revision."

As you write your business plan, think of it as a flexible road map built to adjust to your business journey. That doesn't mean you should only do surface-level research, however. Another common mistake many entrepreneurs make is doing minimal research before writing their business plan.

"You don’t need to spend endless time researching, but your business plan should demonstrate that you truly understand your industry, your target market, and your competitors. If you don't have this core knowledge, it's going to show that you're not prepared to launch your business," wrote LivePlan .

Market analysis and defining your target audience are two crucial steps in your business growth process, so spend extra time getting your facts right and performing deep quantitative and qualitative research.

How to tailor your business plan to different audiences

Business plans are useful for a variety of stakeholders, from lenders to investors to your leadership team and first employees. As such, you want to tailor your plan to ensure it speaks directly to the interests of the reader. This reason is also why you'll want to consider your business plan to be a flexible, living document.

Put yourself in the shoes of your audience as you update your plan for different audiences. What's the most important information they'll be looking for, and how can you get it to them as easily as possible? Here are a few examples.

• Investors: This group reads many, many business plans while searching for the right investment opportunity. Time is of the essence when they pick up your plan. Therefore, provide a succinct, complete summary of your business idea, why it works, and who is on your leadership team.
• Banks: These lenders tend to be more structured and will care about the financials of your company before lending you money. Pay extra attention to your financial statements, including balance sheets and cash-flow statements.
• Suppliers: This group wants to understand why they should work with you versus one of your competitors. "They'll want, above all, to make sure you can pay your bills, so be sure to include adequate cash flow forecasts and other financial reports," wrote Entrepreneur .
• First hires: Before someone signs on to your startup, they want to know what you stand for (in addition to your product analysis). Your company mission, values, and business goals will be relevant to this group.

Make sure that as you update your business plan, you never misrepresent your core concept, financial projections, or values and mission. While different audiences have different interests, you should never completely change your plan to mislead an investor or lender.

Updating and revising your business plan over time

Your business plan should be updated regularly to reflect the current state of your business and the market. Regular reviews help you assess how well you are meeting goals, adjusting to changes in the market, or how realistic your financial targets are. Most experts recommend revisiting your plan annually at a minimum, although a market change or global event should also prompt a quick review.

"[As] long as your plan represents the current situation of the business landscape, the review can be carried out on an annual basis," wrote Upmetrics .

This article was originally written by Danielle Fallon-O’Leary.

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