Introduction
No business can get off the ground without a business plan. Even if you are not showing it to investors, it helps provide you with peace of mind and a sense of what’s needed. Most entrepreneurs never achieve success in pursuing their dreams because they don’t know how to arrange their business plan in a way that makes sense. That is why we’ve put together a business plan outline template for you. With this template, you’ll have no problem addressing the most essential elements of your business plan. Use this outline and get your business up and running today!
Business Plan Outline Template
I. Problem
a. What is the market problem you want to solve?
b. Why hasn’t the problem been addressed by others?
II. Solution
a. How do you intend to solve it?
b. What product or service are you offering?
III. Market
a. What is the market? Who is the target population?
b. Where are you setting your business? Will it be brick and mortar or online only? Why does it make sense to be set there or in that way?
c. How will you market the business?
IV. Competition
a. Who are competitors in the field?
b. How will you differentiate your business from what competitors are doing?
V. Costs
a. What are the costs of doing business?
i. Rent
ii. Labor
iii. Materials
iv. Maintenance
v. Marketing
vi. Insurance
b. What resources will you need?
VI. Projected Revenue
a. What is the projected revenue?
Business Plan Outline Example
I. Problem
a. There are not enough farm fresh farmers markets in the urban area.
b. Farmers tend to bring their produce into the suburbs, working with local organizations and churches, but in the city there is not a lot of space for these markets. Thus, urban dwellers do not have access to farm fresh, locally produced fruits, vegetables and meats.
II. Solution
a. There are many abandoned buildings downtown as a result of COVID-19 putting places out of business. One of these buildings can be purchased cheaply and turned into a greenhouse. Grow lamps have been perfected for facilities such as these for the growing of marijuana in the marijuana industry.
b. Vertical...
Market
a. The market is the urban population, which is demographically diverse. The market is geographical. Consumers are neighbors within walking distance of the farm fresh market.
b. The business will be ground-level and the farm will be on the stories above. It will be centrally located to the various urban communities. It will be brick-and-mortar based but it will be set-up for online ordering from the online-designate gardens. It makes sense to have a virtual market because this is the 21st century and there is going to be virtual demand.
c. Social media will be the primary way to market the business. Word of mouth spreads best through social media and engaging with the community in this way is positive and reinforces the brand image.
IV. Competition
a. There is one year-round “farmer’s market” that is more an importer, i.e., and outdoor grocer than a genuine farmer’s market. There are no local grocers in the urban area that offer farm fresh, locally grown produce on the scale of what this business will offer.
b. The business will...…will plateau unless a second building is purchased and outfitted for the same purposes on other side of the city.
Conclusion
A business plan outline can help you to think through everything you will need to get your business up and running. The outline is helpful because it shows you exactly what things you need to think about and how you should consider important factors such as target market, type of business, the need to differentiate your business from what others are doing in the marketplace, and how to advertise. It also gets you thinking about costs and where you are going to come up with financing if this is needed. Other steps that you might want to consider for your business plan could include how to organize your business, whether as an LLC, a limited partnership, a sole proprietorship or as a corporation. There are so many different options to consider and each has its advantages and disadvantages depending on what type of business you are operating. Tax purposes, employee insurance, and whether you will have a board—these are all issues to consider. The main thing to remember is that this is your business, so don’t let anyone tell you how it has to be. Use our template to help get you started, and good luck!
