What Is a Startup Business Plan?
A startup business plan is, as the name suggests, a business plan for companies that are still in the startup phase. A startup company has to be prepared for future problems. A business plan helps it be prepared for the unexpected by giving insights into the market and competition.
If the product it produces is not successful, a startup should have an idea of what to do next. It also needs to know how much money will be required for things like marketing campaigns or expansion. It is important that a startup business plan offers a clear idea for growth strategy to best allocate resources.
If you'd like to learn more about startup business plans, check out our What Is a Business Plan guide.
How Long Should a Startup Business Plan Be?
A startup business plan should be between one to three pages long with key points listed in bullet points. It should also be easy to read and understand.
Benefits of Using a Startup Business Plan Template
A startup business plan template can be a useful tool for entrepreneurs, no matter what type of company they are trying to launch.
Some of the benefits of using a startup business plan template include:
- It will help you save time and make it easy for you to create your business plan.
- It can also help you avoid mistakes and ensure that your business plan is on file.
- Having a consistent format and look will make it easier for investors and other stakeholders to understand what you’re proposing.
Different Types of Startup Business Plan Templates
Creating or purchasing a blank startup business template will ensure you create a proper business plan for your business. Templates can be modified to include only those sections you need for your specific business type. Sections including financial projections, product launch plans, and more.
A template lets you fill out all the information you need to create a polished and professional business plan — from an executive summary to forecasting annual profits based on market insights.
A good startup template includes these sections:
- Executive summary
- Company description
- Products and services
- Market analysis
- Management team
- Financial plan
- Operational plan
Free Startup Business Plan Template
Use our free business plan template to write your startup business plan. Start filling out the sections while keeping the following in mind.
Startup business plan template best practices:
- Think about your product or service and what market it will be in.
- Understand your competition.
- Do some in depth market research to ensure you have the competitive advantage.
- Work through each section of the business plan template.
- Consult with noncompetitive experts to see how you might improve your plan.
- Create a final draft.
- Stick to your plan as you build out your business, modifying it as needed.
Writing can be frustrating. Researching can be daunting. To make writing a business plan easier, use a business plan template. A business plan template saves you time and the hassle of starting from scratch.
The better your business plan, the more likely your business will succeed.
Frequently Asked Questions
What types of businesses need business plans?
Business plans are one of the most important documents for today’s startups. They help potential investors decide whether they should invest in your business or not.
For startups looking for funding, a business plan is the best way to present to potential investors. It also offers a great opportunity for startups to get feedback from peers and other professionals in the field.
Business plans are necessary when businesses need to apply for certain types of loans or grants. A business plan can be used as proof that you have an idea, have taken steps to bring it into fruition, and know how to run a successful enterprise.
What is the difference between a startup business plan and an existing company's business plan?
In a startup business plan, the founders need to give a detailed description of what their company does and why it is better than its competitors. In an existing company's business plan, the focus is more on discussing past accomplishments and future plans.
How long should a startup business plan be?
A business plan is a written document that provides an overview of the business, its objectives, and the market. Generally these plans are one to three pages long with key points listed in bullet-point format.
Keep the plan on hand for when you need it most - like when you hit hard times or when you're faced with a problem that cannot be solved by any other means.