In this article, we will describe the benefits of using a fill-in-the-blank business plan and provide a free template for you to use right away.
Free Fill-in-the-Blank Business Plan Template
A fill-in-the-blank business plan template is a document that allows you to quickly write a business plan. Among other things, it includes an introduction, executive summary, company description, and marketing plan.
Writing your business plan can be easy if you use the following business plan template:
I. Executive Summary
What type of company are you operating (e.g., a software company, a bakery, etc.)? What is it about your company that makes it (or will make it) uniquely qualified to succeed?
II. Company Overview
Where are you located? When were you formed? What is your legal entity form? What goals is your company trying to achieve? What successes has your company already achieved?
III. Industry or Market Analysis
In what market are you competing (e.g., the fast-food market, the running shoe market)? How big is the industry and is that size big enough? Are there positive or negative trends affecting the industry (e.g., is it growing/shrinking, is government regulation on the horizon that could change the market)?
IV. Customer Analysis
Who are your target customers and what are their primary needs when choosing a product or service provider such as your business?
V. Competitive Analysis
With whom will your company compete and how will your company better serve customer needs than your competitors? How else will you “beat” your competition?
VI. Marketing Plan
What key product or service will you offer and what promotion methods (e.g., radio advertising, pay-per-click ads) will you use to attract customers?
VII. Operations Plan
What are the key operational processes that your organization needs to accomplish on a daily basis to achieve success? What milestones will you need to accomplish over the next 1-3 years in order to achieve success?
VIII. Management Team
Who is on your management team? What experiences/relationships/others do they possess that will help your venture succeed? Who must you hire in the future to improve your company’s odds of success?
IX. Financial Plan
What are the main financial implications of your company? How much outside funding (if any) do you need? How much revenue can you realistically generate each year over the next five years? Are the profit margins high enough to sustain the company?
Growthink’s fill-in-the-blank business plan template is the result of 20+ years of research into the business plans that help entrepreneurs and small businesses attract investors, raise investment capital, and build successful companies. It also includes all 10 key components of a business plan for any startup business or existing business.
If you are looking for a business plan template that is easy to complete AND includes the tools to easily complete the financial projections you need, get our Ultimate Business Plan Template. Click below for more information and get your business plan done.
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Fill-in-the-Blank Business Plan Templates FAQs
A fill-in-the-blanks business plan is a plan that is pre-written for you, and you complete it by filling in the missing information with things like your business name, etc. It's an easy way to make sure you cover all your bases and answer key questions, like "what markets are you targeting?" and “is your business idea profitable?”.
A fill-in-the-blank business plan template helps you understand the profitability of your business ideas along with the potential costs so you can better prepare for what's ahead. It also provides an opportunity to learn more about the industry by having access to all of the available options when creating your own business plan.
Using a business plan template saves you time by giving you an existing template to follow, but still customizable to your specific business goals. No business plan can be completely fill-in-the-blanks since all businesses are different. For example, while a pizza shop in one town operates in a very similar manner as their competition, they will most likely employ different promotional strategies (e.g., one might use social media marketing while the other won't). Likewise, their product mix (e.g., types of pizzas and other offerings) might be different.
You can use the fill-in-the-blank business plan as a starting point. But, the key for a fill-in-the-blanks business plan is to include the right questions for one to easily answer. For example, if the template says “here are the 28 promotional strategies (e.g., social media marketing, radio advertising, PR, etc.) that you can choose from,” it makes it easier for you to complete your plan in less time because you simply select which promotions work best for you business.