Free business plan template and how to fill it out

Free business plan template PDF download for 2025

Thinking about putting your business plan together? Whether you're starting fresh or updating an existing one, using a template can make the whole process much easier. It gives you a solid structure to follow, helps you stay focused, and saves you from staring at a blank page wondering where to begin.

Grab your free, downloadable business plan template below to kick things off.

What a business plan template or sample includes

Defining your audience helps you determine the language you’ll use in presenting your ideas. Once you have your audience in mind, you can start creating the 10 key components of your business plan:

There are 10 key parts of a business plan you’ll need to complete: 

1. Executive summary
2. Company description
3. Market research and potential
4. Competitive analysis
5. Products and services
6. Marketing and sales
7. Business financials
8. Management and leadership
9. Funding request
10. Appendix

Industries that need to use business plans

Business plans are valuable tools across nearly every industry. Whether you’re opening a coffee shop or launching a nonprofit, having a roadmap makes it easier to stay focused, secure funding, and grow sustainably. Here’s how a few key industries benefit from having a strong business plan in place:

1. Restaurants

Running a restaurant comes with tight margins and high overhead costs, so a business plan can help you map out everything from menu pricing and food costs to staffing, marketing, and location strategy. Investors and banks also want to see detailed financial projections before signing on to help fund a new food venture. Be sure to use restaurant accounting software to help you stay on top of expenses, track profits, and make sure your financials match up with what’s in your plan.

1. Startups

For startups, a business plan is essential, especially when trying to raise capital. Investors want to know your business model, how you plan to grow, and what kind of return they might expect. A clear plan shows that you’ve done your homework and are ready to hit the ground running. It also helps align your team around a shared vision and strategy.

1. Nonprofits

Nonprofits may not operate for profit, but they still need a business plan. It helps articulate your mission, define the services you offer, and create a plan for fundraising and community impact. Grant providers and donors usually require one, and it’s a great way to keep your team aligned around your goals. Using nonprofit accounting software can also make it easier to manage donations, track spending, and stay financially transparent.

1. Daycare centers

If you’re running a daycare, a business plan helps you figure out pricing, capacity, licensing, staff-to-child ratios, and safety standards. You’ll also want a financial plan that accounts for costs like insurance, supplies, and staff pay. It shows parents—and regulators—that you’re taking your business seriously.

1. Real estate

Real estate agents, brokers, and developers use business plans to target specific markets, plan marketing strategies, and manage property portfolios. It’s especially helpful when pitching to investors or securing funding for large development projects. Also, tools like real estate accounting software can make your life much easier by helping you track income, manage commissions, and keep your financials organized and ready to share.

1. Manufacturing

If you’re in the manufacturing industry, you need a detailed business plan to help you manage equipment, staffing, supply chains, quality control, and logistics. And if you’re applying for loans or grants, a strong plan shows lenders and investors that you’ve mapped out production costs, inventory needs, delivery timelines, and how you’ll scale efficiently without compromising quality.

1. Executive summary

An executive summary lays out all the vital information about your business within a relatively short space. It’s typically one page or less and acts as a high-level overview that summarizes the other sections of your plan. 

Even though it appears first in most business plans, you’ll want to write this section last. It effectively summarizes the ideas from the other nine sections. Your executive summary should focus on the value proposition or unique selling point: an extended motto aimed at stakeholders. 

You can follow a straightforward problem/solution format or this fill-in-the-blanks framework:

• For [target customers]
• Who are dissatisfied with [current solutions]
• Our [offering] solves [key customer problems]
• Unlike [competing product], we have [differentiating key features]

This framework isn’t meant to be rigid but serves as a jumping-off point.

Tips for writing an executive summary

You can think of an executive summary as the written version of an elevator pitch, so it should be clear, concise, and engaging enough to capture the reader’s interest. Let’s look at a couple of tips to help you craft a great executive summary:

• Keep it short and to the point: Aim for one to two pages max. You want to highlight the most important aspects of your business without overwhelming the reader.
• Start with a strong hook: Your first few sentences should clearly state what your business does, who it serves, and why it matters.
• Focus on key takeaways: Answer the big questions: What problem does your business solve? How does it make money? What’s your competitive advantage?
• Tailor it to your audience: Are you pitching to investors? A bank? Potential business partners? Make sure you include the information they care about most.
• Use simple, clear language: Avoid jargon or overly technical terms. Make it easy for anyone to understand your business at a glance.
• Summarize your financials: Include high-level numbers like expected revenue, funding needs, and profit potential to give readers a quick snapshot of your financial outlook.
• End with a call to action: If you’re seeking funding or support, make it clear what you need and why they should care.

2. Company description

Your company description should contain three elements, including your mission statement, company history, and objectives. These elements give context to the bigger picture, letting investors know the company’s purpose so your goals also make sense.

Your mission statement is your company’s reason for existing. It’s more than what you do or what you sell. It’s about why exactly you do what you do. Effective mission statements should be inspirational and emotional. 

Think about what motivates you, what experiences led you to start the business, the problems you solve, the wider social issues you care about, etc. Don’t worry about making your company history a dense narrative. Instead, write it like you would a profile. 

Your business objectives give you clear goals to focus on, so make sure they’re SMART:

• Specific
• Measurable
• Achievable
• Realistic
• Time-bound

Tie these goals to your key results. When you don’t clearly define your objectives, it’s hard for your team to work toward a common purpose. What’s worse, fuzzy goals don’t inspire confidence from investors and other stakeholders.

3. Market research and potential

For the market research part, you’ll outline your ideal potential customer as well as the actual and potential size of your market. 

Target markets identify demographic information like:

• Location
• Income
• Age
• Education
• Profession
• Hobbies

By getting specific, you’ll illustrate expertise and generate confidence. If your target audience is too broad, it can be a red flag for investors. The same applies to your market analysis when you estimate its size and monetary value. 

In addition to big numbers that encompass the total market, drill down into your business’s addressable market—meaning, local numbers or numbers that apply the total to your specific segments. 

You can even map your customers’ journey to better understand their needs and preferences.

4. Competitive analysis 

Competitive research begins with identifying companies that currently occupy the market you’re looking to enter. The idea of carving out time to learn about each potential competitor you have may sound overwhelming, but it will be an extremely useful exercise.

Answer these questions about your most significant competitors:

• Where do they advertise?
• What kind of press coverage do they get?
• How good is their customer service?
• What are their sales and pricing strategies?
• How do they rank on third-party rating/review platforms?

Spend some time thinking about what sets you apart. If your idea is truly original, be ready to explain the customer pain points you see your business solving. 

If your business has no direct competition, research other companies that provide a similar product or service. Next, create a table or spreadsheet listing your competitors (competitor analysis table) to include in your plan.

5. Products and services

Describe the benefits, production process, and life-cycle of your offering and how it’s better than your competitors.

When describing benefits, focus on:

• Unique features 
• Emotional and practical payoffs for your customers
• How you protect your work copyright

For the production process, answer how you:

• Create products or services
• Source materials or components
• Maintain quality control and quality assurance
• Manage your daily operations, like bookkeeping and inventory

Then, for your product life cycle portion, map elements like the time between purchases and up-sells, cross-sells, and down-sells. 

6. Marketing and sales 

Your marketing plan can be the difference between selling a lot and a little. Growth strategies are a critical part of your business plan. 

The marketing and sales section of your business plan should touch on your target market and customer segments and highlight your: 

• Plan to attract new customers
• Growth tactics for establishing partnerships 
• Retention strategies like customer loyalty or referral programs
• Advertising and promotion channels 

You can also use this section of your business plan to reinforce your strengths and what differentiates you from the competition. Be sure to show your accomplishments, what you plan to do with your existing resources, and what results you expect from your efforts.

7. Business financials

If you’re just starting, your business may not yet have financial data, financial statements, or comprehensive reporting. However, you’ll still need to prepare a budget and a financial plan.

If your company has been around for a while and you’re seeking investors, be sure to use the key financial statements:

• Income statement: Also known as a profit or loss statement, this document shows how profitable your business is by highlighting your revenue, expenses, and net profit over a specific period. 
• Cash flow statement: This document tells you how money moves in and out of your business so you understand how well you manage operational costs and ensure you have enough cash to cover expenses.
• Balance sheet: This document is a snapshot of your business’s financial standing at any given moment. It lays out what you own (assets), owe (liabilities), and what’s left over (equity).

Other figures you’ll want to include are profitability margins and debt levels. Make sure your figures are accurate. You can use a template to fill out your financials, such as a budget template.

Make financial projections

Financial projections give you (and potential investors) a clear picture of where your business is headed financially by estimating future revenue, expenses, and profitability. Ultimately, this helps make smarter decisions about growth, funding, and day-to-day operations. Here are some steps to help you create solid financial projections.

Step 1: Estimate your revenue

Look at market research, industry trends, and any past sales data you have. Make realistic estimates for the next one, three, and five years. Aim high, but stay grounded in real numbers.

Step 2: Project your expenses

Break down expenses into fixed costs (like rent and salaries) and variable costs (like marketing and inventory). Consider all costs, including overhead, operational, and unexpected expenses. Many new business owners forget this step and end up with thin profit margins.

Step 3: Determine your break-even point

The break-even point is when your total revenue equals your total expenses—meaning your business isn’t losing money, but it’s not making a profit yet, either. Run a break-even analysis to figure out how much revenue you need to cover all expenses before turning a profit. This will help set realistic pricing strategies and revenue goals.

Step 4: Include cash flow forecasts

Predict when and how cash moves in and out of your business to ensure you always have enough to cover your costs. Look at items in your income statement and balance sheet that impact cash flow, such as loan repayments, delayed payments from customers, or inventory costs. Typically, cash flow projections are made monthly for the upcoming year and then quarterly or annually for the following years.

Step 5: Factor in growth and risks

Account for potential expansion, market shifts, and unexpected expenses so you’re financially prepared for the future. Consider creating both conservative and optimistic projections to account for different scenarios.

Again, using tools like a budget template can help you streamline this process.

8. Management and leadership 

Your business is only as good as the team that runs it. Identify your team members and explain why they can either turn your business idea into a reality or continue growing it. 

Highlight expertise and qualifications throughout—this section of your business plan should show off your management team superstars. You should also note the roles you still need to hire to grow your company and the cost of hiring experts to assist operations.

Here’s an example of how you could organize this section and highlight key members of your team: