examples of 5 year business plan

How to Write a Five-Year Business Plan

Noah Parsons

15 min. read

Updated October 27, 2023

Learn why the traditional way of writing a five-year business plan is often a waste of time and how to use a one-page plan instead for smarter, easier strategic planning to establish your long-term vision. 

In business, it can sometimes seem hard enough to predict what’s going to happen next month, let alone three or even five years from now. But, that doesn’t mean that you shouldn’t plan for the long term. After all, your vision for the future is what gets you out of bed in the morning and motivates your team. It’s those aspirations that drive you to keep innovating and figuring out how to grow.

• What is a long-term plan?

A long-term or long-range business plan looks beyond the traditional 3-year planning window, focusing on what a business might look like 5 or even 10 years from now. A traditional 5-year business plan includes financial projections, business strategy, and roadmaps that stretch far into the future.

I’ll be honest with you, though—for most businesses, long-range business plans that stretch 5 and 10 years into the future are a waste of time. Anyone who’s seriously asking you for one doesn’t know what they’re doing and is wasting your time. Sorry if that offends some people, but it’s true.

However, there is still real value in looking at the long term. Just don’t invest the time in creating a lengthy version of your business plan with overly detailed metrics and milestones for the next five-plus years. No one knows the future and, more than likely, anything you write down now could be obsolete in the next year, next month, or even next week. 

That’s where long-term strategic planning comes in. A long-term business plan like this is different from a traditional business plan in that it’s lighter on the details and more focused on your strategic direction. It has less focus on financial forecasting and a greater focus on the big picture. 

Think of your long-term strategic plan as your aspirational vision for your business. It defines the ideal direction you’re aiming for but it’s not influencing your day-to-day or, potentially, even your monthly decision making. 

• Are long-term business plans a waste of time?

No one knows the future. We’re all just taking the information that we have available today and making our best guesses about the future. Sometimes trends in a market are pretty clear and your guesses will be well-founded. Other times, you’re trying to look around a corner and hoping that your intuition about what comes next is correct.

Now, I’m not saying that thinking about the future is a waste of time. Entrepreneurs are always thinking about the future. They have to have some degree of faith and certainty about what customers are going to want in the future. Successful entrepreneurs do actually predict the future — they know what customers are going to want and when they’re going to want it.

Entrepreneurship is unpredictable 

Successful entrepreneurs are also often wrong. They make mistakes just like the rest of us. The difference between successful entrepreneurs and everyone else is that they don’t let mistakes slow them down. They learn from mistakes, adjust and try again. And again. And again. It’s not about being right all the time; it’s about having the perseverance to keep trying until you get it right. For example, James Dyson, inventor of the iconic vacuum cleaner, tried out 5,126 prototypes of his invention before he found a design that worked.

So, if thinking about the future isn’t a waste of time, why are 5-year business plans a waste of time? They’re a waste of time because they typically follow the same format as a traditional business plan, where you are asked to project sales, expenses, and cash flow 5 and 10 years into the future. 

Let’s be real. Sales and expense projections that far into the future are just wild guesses, especially for startups and new businesses. They’re guaranteed to be wrong and can’t be used for anything. You can’t (and shouldn’t) make decisions based on these guesses. They’re just fantasy. You hope you achieve massive year-over-year growth in sales, but there’s no guarantee that’s going to happen. And, you shouldn’t make significant spending decisions today based on the hope of massive sales 10 years from now.

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• Why write a long-term business plan?

So, what is the purpose of outlining a long-term plan? Here are a few key reasons why it’s still valuable to consider the future of your business without getting bogged down by the details.

Showcase your vision for investors

First, and especially important if you are raising money from investors, is your vision. Investors will want to know not only where you plan on being in a year, but where the business will be in five years. Do you anticipate launching new products or services? Will you expand internationally? Or will you find new markets to grow into? 

Set long-term goals for your business

Second, you’ll want to establish goals for yourself and your team. What kinds of high-level sales targets do you hope to achieve? How big is your company going to get overtime? These goals can be used to motivate your team and even help in the hiring process as you get up and running.

That said, you don’t want to overinvest in fleshing out all the details of a long-range plan. You don’t need to figure out exactly how your expansion will work years from now or exactly how much you’ll spend on office supplies five years from now. That’s really just a waste of time.

Instead, for long-range planning, think in broad terms. A good planning process means that you’re constantly revising and refining your business plan. You’ll add more specifics as you go, creating a detailed plan for the next 6-12 months and a broader, vague plan for the long term.

You have a long development time

Businesses with extremely long research and development timelines do make spending decisions now based on the hope of results years from now. For example, the pharmaceutical industry and medical device industry have to make these bets all the time. The R&D required to take a concept from idea to proven product with regulatory approval can take years for these industries, so long-range planning in these cases is a must. A handful of other industries also have similar development timelines, but these are the exceptions, not the rule.

Your business is well-established and predictable 

Long-term, detailed planning can make more sense for businesses that are extremely well established and have long histories of consistent sales and expenses with predictable growth. But, even for those businesses, predictability means quite the opposite of stability. The chances that you’ll be disrupted in the marketplace by a new company, or the changing needs and desires of your customers, is extremely high. So, most likely, those long-range predictions of sales and profits are pretty useless.

• What a 5-year plan should look like

With the exception of R&D-heavy businesses, most 5-year business plans should be more like vision statements than traditional business plans. They should explain your vision for the future, but skip the details of detailed sales projections and expense budgets. 

Your vision for your business should explain the types of products and services that you hope to offer in the future and the types of customers that you hope to serve. Your plan should outline who you plan to serve now and how you plan to expand if you are successful.

This kind of future vision creates a strategic roadmap. It’s not a fully detailed plan with sales forecasts and expense budgets, but a plan for getting started and then growing over time to reach your final destination.

For example, here’s a short-form version of what a long-term plan for Nike might have looked like if one had been written in the 1960s:

Nike will start by developing high-end track shoes for elite athletes. We’ll start with a focus on the North West of the US, but expand nationally as we develop brand recognition among track and field athletes. We will use sponsored athletes to spread the word about the quality and performance of our shoes. Once we have success in the track & field market segment, we believe that we will be able to successfully expand both beyond the US market and also branch out into other sports, with an initial focus on basketball.

Leadership and brand awareness in a sport such as basketball will enable us to cross over from the athlete market into the consumer market. This will lead to significant business growth in the consumer segment and allow for expansion into additional sports, fashion, and casual markets in addition to building a strong apparel brand.

Interestingly enough, Nike (to my knowledge) never wrote out a long-range business plan. They developed their plans as they grew, building the proverbial airplane as it took off.

But, if you have this kind of vision for your business, it’s useful to articulate it. Your employees will want to know what your vision is and your investors will want to know as well. They want to know that you, as an entrepreneur, are looking beyond tomorrow and into the future months and years ahead.

• How to write a five-year business plan

Writing out your long-term vision for your business is a useful exercise. It can bring a sense of stability and solidify key performance indicators and broad milestones that drive your business. 

Developing a long-range business plan is really just an extension of your regular business planning process. A typical business plan covers the next one to three years, documenting your target market, marketing strategy, and product or service offerings for that time period. 

A five-year plan expands off of that initial strategy and discusses what your business might do in the years to come. However, as I’ve mentioned before, creating a fully detailed five-year business plan will be a waste of time. 

Here’s a quick guide to writing a business plan that looks further into the future without wasting your time:

1. Develop your one-page plan

As with all business planning, we recommend that you start with a one-page business plan. It provides a snapshot of what you’re hoping to achieve in the immediate term by outlining your core business strategy, target market, and business model.

A one-page plan is the foundation of all other planning because it’s the document that you’ll keep the most current. It’s also the easiest to update and share with business partners. You will typically highlight up to three years of revenue and profit goals as well as milestones that you hope to achieve in the near term.

Check out our guide to building your one-page plan and download a free template to get started.

2. Determine if you need a traditional business plan

Unlike a one-page business plan, a traditional business plan is more detailed and is typically written in long-form prose. A traditional business plan is usually 10-20 pages long and contains details about your product or service, summaries of the market research that you’ve conducted, and details about your competition. Read our complete guide to writing a business plan .

Companies that write traditional business plans typically have a “business plan event” where a complete business plan is required. Business plan events are usually part of the fundraising process. During fundraising, lenders and investors may ask to see a detailed plan and it’s important to be ready if that request comes up. 

But there are other good reasons to write a detailed business plan. A detailed plan forces you to think through the details of your business and how, exactly, you’re going to build your business. Detailed plans encourage you to think through your business strategy, your target market, and your competition carefully. A good business plan ensures that your strategy is complete and fleshed out, not just a collection of vague ideas.

A traditional business plan is also a good foundation for a long-term business plan and I recommend that you expand your lean business plan into a complete business plan if you intend to create plans for more than three years into the future.

3. Develop long-term goals and growth targets

As you work on your business plan, you’ll need to think about where you want to be in 5+ years. A good exercise is to envision what your business will look like. How many employees will you have? How many locations will you serve? Will you introduce new products and services? 

When you’ve envisioned where you want your business to be, it’s time to turn that vision into a set of goals that you’ll document in your business plan. Each section of your business plan will be expanded to highlight where you want to be in the future. For example, in your target market section, you will start by describing your initial target market. Then you’ll proceed to describe the markets that you hope to reach in 3-5 years.

To accompany your long-term goals, you’ll also need to establish revenue targets that you think you’ll need to meet to achieve your goals. It’s important to also think about the expenses you’re going to incur in order to grow your business. 

For long-range planning, I recommend thinking about your expenses in broad buckets such as “marketing” and “product development” without getting bogged down in too much detail. Think about what percentage of your sales you’ll spend on each of these broad buckets. For example, marketing spending might be 20% of sales. 

4. Develop a 3-5 year strategic plan

Your goals and growth targets are “what” you want to achieve. Your strategy is “how” you’re going to achieve it.

Use your business plan to document your strategy for growth. You might be expanding your product offering, expanding your market, or some combination of the two. You’ll need to think about exactly how this process will happen over the next 3-5 years. 

A good way to document your strategy is to use milestones. These are interim goals that you’ll set to mark your progress along the way to your larger goal. For example, you may have a goal to expand your business nationally from your initial regional presence. You probably won’t expand across the country all at once, though. Most likely, you’ll expand into certain regions one at a time and grow to have a national presence over time. Your strategy will be the order of the regions that you plan on expanding into and why you pick certain regions over others.

Your 3-5 year strategy may also include what’s called an “exit strategy”. This part of a business plan is often required if you’re raising money from investors. They’ll want to know how they’ll eventually get their money back. An “exit” can be the sale of your business or potentially going public. A typical exit strategy will identify potential acquirers for your business and will show that you’ve thought about how your business might be an attractive purchase.

5. Tie your long-term plan to your one-page plan

As your business grows, you can use your long-term business plan as your north star. Your guide for where you want to end up. Use those goals to steer your business in the right direction, making small course corrections as you need to. 

You’ll reflect those smaller course corrections in your one-page plan. Because it is a simple document and looks at the shorter term, it’s easier to update. The best way to do this is to set aside a small amount of time to review your plan once a month. You’ll review your financial forecast, your milestones, and your overall strategy. If things need to change, you can make those adjustments. Nothing ever goes exactly to plan, so it’s OK to make corrections as you go.

You may find that your long-term plan may also need corrections as you grow your business. You may learn things about your market that change your initial assumptions and impacts your long-range plan. This is perfectly normal. Once a quarter or so, zoom out and review your long-range plan. If you need to make corrections to your strategy and goals, that’s fine. Just keep your plan alive so that it gives you the guidance that you need over time. 

• Vision setting is the purpose of long-term planning

Part of what makes entrepreneurs special is that they have a vision. They have dreams for where they want their business to go. A 5-year business plan should be about documenting that vision for the future and how your business will capitalize on that vision.

So, if someone asks you for your 5-year business plan. Don’t scramble to put together a sales forecast and budget for 5 years from now. Your best guess today will be obsolete tomorrow. Instead, focus on your vision and communicate that. 

Explain where you think your business is going and what you think the market is going to be like 5 years from now. Explain what you think customers are going to want and where trends are headed and how you’re going to be there to sell the solution to the problems that exist in 5 and 10 years. Just skip the invented forecasts and fantasy budgets.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

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How to write a 5-year business plan faster with the right tool

Did you know that 70% of firms still in business after five years, have a strategic plan in place?

A business plan helps outline your goals and explains how you plan to achieve them and is crucial if you want to raise financing and plan your outlook for both the short and long-term future.

However, writing a five-year business plan can be a daunting task, especially when you're juggling numerous responsibilities as a small business owner.

Incorporating the right tools into your strategy makes a creating 5-year business plan a breeze while ensuring accuracy and thoroughness.

In this guide, we'll cover what a five-year business plan is, why you need to write one, what tool you should use and the content that should be included!

Ready? Let's get started!

In this guide:

What is a 5-year business plan?

Why is a 5-year business plan crucial for business success, how does a 5-year business plan differ from a 3-year business plan, is a 5-year business plan right for you, how to write a 5-year business plan efficiently, 5-year business plan templates and examples, why you shouldn't be using excel and word to write a 5-year business plan, how do i write a 5-year business plan in practice, how to make sure your 5-year business plan stays relevant.

It follows the same structure as most other business plans. It contains all of the key sections from the executive summary to the financial statements.

A 5-year business plan serves as a roadmap for your company's future, guiding strategic decisions and ensuring alignment with your long-term goals.

In today's dynamic business landscape, having a clear and comprehensive plan in place is essential for navigating uncertainties and capitalizing on opportunities.

Consider a small manufacturing business seeking to invest in new equipment and technology to enhance production capabilities.

Without a 5-year plan outlining growth targets, market analysis, and financial projections, the company may struggle to secure funding or make informed investment decisions.

By developing a strategic roadmap that extends five years into the future, the business can anticipate challenges, capitalize on emerging trends, and adapt to evolving market conditions.

Furthermore, a 5-year business plan provides a framework for accountability and performance measurement. For instance, a construction and real estate company embarking on a major development project can use the plan to track progress against milestones, monitor expenses, and evaluate the project's overall feasibility.

By regularly revisiting and updating the plan, the company can ensure its strategies remain relevant and aligned with its overarching objectives.

Now that we've highlighted the importance of a 5-year plan, let's compare it to its shorter-term counterpart, the 3-year business plan.

Need a convincing business plan?

The Business Plan Shop makes it easy to create a financial forecast to assess the potential profitability of your projects, and write a business plan that’ll wow investors.

The key difference is that those financials are projected for 5 years instead of 3 years. This means that the business is providing a long(er) term outlook.

It also means that sections detailing the actions planned - such as business strategy, sales & marketing plan and milestones - have to be written in greater depth because a lot more will be implemented in a 5-year business plan (vs. a 3-year business plan).

Business plans can be highly volatile tools, especially for startups. If a business plan turns out to be inaccurate at the end of year one, it is likely that the following years will follow suit.

In essence, the further you plan into the future, the less certainty you have. This means that 5-year business plans tend to be higher level than 3-year business plans given that it’s difficult to accurately predict what might happen after year 3.

Because of the uncertainty regarding long-term projections we just explained in the section above, 5-year business plans tend to be quite rare.

As a rule of thumb, they are mostly useful in the following situations:

• When the business is highly predictable
• When the business is in transition

Highly predictable businesses

Some businesses are predictable with a high level of certainty and can therefore afford to take a long(er) term view.

This usually applies to businesses with the following characteristics:

• They have limited competition: monopolies or oligopolies
• They sell products or services with limited substitution options

Infrastructure companies are the perfect example of this. If you are the only water provider or train operator in the region and have been given a 10 years concession, you can comfortably project your financials over longer periods.

Businesses in transition

5-year business plans are also useful for businesses that want to model a transition from one state to another.

Good examples of this are when there is a one-off important change in the business, or a high level of inertia:

• The business is expected to go through a phase of reorganization or restructuring, after acquiring another business, or because it needs to shut down a division which is no longer competitive, for example
• The business is investing in a capital-intensive project that will take time before yielding a return on investment. If constructing a new factory takes two years before the business can benefit from the increased production capacity, for example
• There is inertia in the sales cycle. If the business is launching a new product marketed to big corporations with an expected 12-18 months sales cycle, for example

As you can see from above, 5-year business plans are often overkill for startups or small “brick and mortar” businesses such as retail shops and restaurants.

Now let’s look at how you should write your 5-year business plan, the benefits of doing so, the tools you can use to help you and the factors to consider when selecting a business plan software.

Need inspiration for your business plan?

The Business Plan Shop has dozens of business plan templates that you can use to get a clear idea of what a complete business plan looks like.

Use software to write a 5-year business plan

Utilizing business planning software offers numerous advantages for small business owners embarking on the journey of creating a 5-year business plan.

These tools are specifically designed to simplify the planning process, saving you time and effort whilst helping you avoid silly errors along the way.

By leveraging business planning software, you can access pre-built templates that contain industry-specific financial models and forecasting tools. This allows you to focus on refining your growth strategy rather than starting from scratch.

Now, let’s take a further look at how these tools allow you to streamline the process of writing a business plan.

How these tools simplify the planning process

Using an online business planning software such as the one offered by The Business Plan Shop is the most efficient and modern way to write a five-year business plan.

An online business planning software streamlines the process because:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Above is an example of how a cover page and table of contents look like on The Business Plan Shop's online business planning software.

What to consider when choosing a business plan software

Now, let's explore key factors to consider when choosing the right business planning software to facilitate your 5-year business plan:

• Compatibility with 5-year planning: Ensure that the software you choose supports the creation and management of 5-year business plans, allowing you to set long-term goals, forecast financials, and track progress over an extended period.
• Ease of use: Look for software with an intuitive interface and user-friendly features that make it easy for small business owners to navigate and utilize effectively without extensive training or technical expertise.
• Customization options: Evaluate the software's ability to tailor templates, and forecasting models to your specific business needs and industry requirements. Seek solutions that allow for flexibility and customization, enabling you to adapt the plan to changing market conditions and internal priorities.
• Integration capabilities: Assess whether the software integrates seamlessly with other tools, such as accounting software. Integration ensures consistency and accuracy across your business operations, streamlining data management and decision-making. The Business Plan Shop offers integration with QuickBooks and Xero.
• Cost and scalability: Consider the pricing structure and scalability of the software, ensuring it aligns with your budget and growth trajectory. For example, The Business Plan Shop offers flexible pricing plans based on your business size and needs, with options to upgrade or downgrade as your business evolves.

Most of the business plan templates offered by The Business Plan Shop are examples of three-year business plans.

However, since there isn't any fundamental difference between a three-year and five-year business plan, you can use one of our templates to help structure your own plan (simply increase the number of years to 5 in the settings and adjust your forecast accordingly).

When considering using a tool like Word or Excel to craft a 5-year business plan, it is important to be aware of the drawbacks.

Though both programs may offer some basic formatting and calculations, they are not tailored for creating business plans.

Using Excel can be risky due to potential errors in data entry as a consequence of inputting data manually. A single mistake could lead to financial statements being inaccurate and with hundreds of lines of data, you might struggle to locate where the mistake was made.

Investors are likely to frown upon the use of Excel when creating a forecast for this reason, and it's unlikely that they would trust your numbers unless you have a background in accounting or finance.

Even if you do have a background in finance. With Excel, you'll need to compute key formulas yourself, which means that modelling complex elements is likely to be frustrating. Modelling D&A tables, advanced payment terms, or variable interest rate loans in the financial forecast are good examples of this.

If you're using Word to write up your business plan, you might find yourself overwhelmed by all the details that must be included. And unlike The Business Plan Shop, which offers you structured templates for each section of your plan, with Word there are no examples or instructions to guide you either.

Following a set structure makes it much easier to write a five-year business plan - which is why we've broken it down into simple questions and sections for you to follow!

How do you set 5-year business (growth) goals?

When writing a 5-year business plan, it's important to set achievable goals within that timeframe. Looking back at previous business performance can offer indications as to what your team can achieve with the resources they have at their disposal.

Be sure to set SMART (Specific, Measurable, Achievable, Relevant and Time-bound) objectives: there's no point in saying that you want to open 10 new stores within the next five years, if you know that's virtually impossible.

Similarly, an increase in customer satisfaction by itself is not a measurable goal and would need to lead to greater customer retention and repeat purchases for it to be quantified in numerical terms.

Remember that your goals are likely to shift as time goes by and you might want to make small changes to them. Whilst it's good to be specific, there's no need to mention every single aspect of your strategy in the business plan. You are trying to impress stakeholders such as investors, not bore them with the details!

Need a solid financial forecast?

The Business Plan Shop does the maths for you. Simply enter your revenues, costs and investments. Click save and our online tool builds a three-way forecast for you instantly.

What is the content of a 5-year business plan?

A 5-year business plan is composed of 7 main sections, let's have a look at each of them.

Executive Summary

The executive summary is arguably the most important part of your business plan. It provides readers (such as banks and investors) a rundown of your business as a whole.

You should explain what type of business you are, what goods or services you sell and to whom, forecasted revenues and profitability in the next five years, as well as the amount of financing that is required (if any).

Remember that this is the first section of your business plan. Keep it short and snappy to persuade stakeholders such as investors to continue reading.

Company Overview

The company overview section of a five-year business plan usually covers three key areas:

• Structure and Ownership
• Business Location
• Management team

You should start by summarising how your business is funded to date and who owns it (be sure to state shareholder names and percentage ownership if it is equity funded). Plus, you should declare what type of legal structure you've chosen (sole trader, limited company, partnership, etc.).

Then give an overview of the location(s) of your business Simply explain where you chose to set up your business(es) and why you chose that particular area(s) - strong transport links and parking facilities, large footfall of potential customers nearby are two such examples.

Finally, you should introduce the management team. This part is particularly important to demonstrate to investors that your management team has the necessary skills and experience to run the business successfully.

Market analysis

This is likely to be the lengthiest section of your 5-year business plan. In general, the market analysis should include the following sections:

• Demographics and segmentation
• Target market
• Competition
• Barriers at entry

Demographics are essential for understanding who is likely to be interested in purchasing your products or services. Segmenting demographics further can also provide insight into what types of goods customers prefer and the price that they are willing to pay for them.

This section can also help you understand any upcoming trends in the market that are likely to affect your strategy within the next five years.

Then comes the target market part, where you will explain which segments are targeted by your business and how you meet their needs.

For example, if you were running a wellness spa, your target market could be women aged between 20 and 45 who work full-time and are looking to relax and de-stress after their workday and on the weekends. They might be drawn to your salon because of your high-quality customer service and convenient opening times.

It's also important to explain who your business will be competing against in the local market. Think about direct and indirect competition so that you can devise strategies to gain an edge over them. 

The next part of your market analysis will be to detail potential barriers to entry. Barriers to entry are best defined as any hurdles that prevent competing firms from entering the market and stealing your hard-earned market shares. A large investment in R&D or production capacities would be good examples.

Finally, you should state what regulations are already in place in the market and how you plan to abide by them. Examples of such regulations include The Data Protection Act (prominent for businesses with a website) and health and safety regulations.

Products and services

The products and services section of your 5-year business plan should include detailed descriptions of all the products and/or services that your business offers.

For example, if you run a coffee shop, you should detail the ingredients used, such as the type of milk, flavourings, and toppings available. The reader will want to understand what makes your coffee unique from other businesses in this competitive market.

You could also list any offers that customers can obtain (coffee and cake deals for example). You might also have delivery options available or loyalty programmes for customers who purchase multiple drinks over time.

It may also be useful to explain how you intend to keep up with current trends by introducing new flavours and seasonal beverages throughout the year (pumpkin flavour during Halloween for example).

Including these details in your 5-year business plan helps paint a clear picture for potential investors about what they can expect now and in the future.

Strategy Section

This section should outline the pricing strategy, marketing plan, milestones to be achieved, as well as any risks and mitigants associated with your venture.

You should explain how you charge for your goods and services, why you chose to price them at that level, and how they compare with prices charged by your competition.

In your marketing plan, you could outline how you plan to implement a set strategy to attract and retain customers.

Your business milestones are important because they summarise what your goals are and where you want to be in five years' time. For an existing business, it might look like this:

• In year one: open a second store in the region
• In year two: go national with another 5 new stores in major cities
• From year three to five: open 10 new stores each year to reach a network of 37 stores

Finally, talk about the risks and mitigants that could affect your business within the next five years. Try to cover major risks such as changes in the competitive environment, new regulations, key staff leaving, etc.

Operations Section

In your five-year business plan operations section, you should outline any staff that you've recruited (or plan to recruit), the qualifications & experience they hold and their responsibilities.

Your business might employ more staff as time goes on (perhaps as you obtain a stronger cash flow position in year 3 of the business plan). Be sure to state any future recruitment plans.

Talk about the suppliers that you've chosen to work with and the reason for picking them over others.

Finally, you should state any key assets required for the business to operate such as leases, patents, or specialized equipment.

For any business plan, the financial section is crucial. Your five-year business plan should contain a full set of financial statements: a balance sheet, a profit & loss statement and a cash flow statement.

Below is an example of how five-year forecasted revenues might look like for one of your product or service. This chart was created using The Business Plan Shop's 5-year financial forecasting software .

Obtaining inputs from key stakeholders before writing your 5-year business plan

To help ensure that your business plan is accurate, it should ideally be written by your management team (one or more managers who are responsible for overall strategy and the day-to-day running of the business).

It's also important to obtain input from key staff members. For example, the head of sales should help build the sales forecast because they are the one responsible for executing the sales strategy.

How many pages does a 5-year business plan have?

Like most business plans, there's no specific number of pages that yours must have. A good rule of thumb, however, is to keep it between 15 and 35 pages.

As long as you've covered all of the key sections, ranging from the executive summary to the financial projections, your five-year business plan should be good to go!

Remember, quality is more important than quantity.

Writing a comprehensive business plan takes time, to get a return on investment at this time, you need to actually use and maintain your plan.

To do so, you will want to regularly compare your actuals (actual data from your accounting software) with your financial projections to check you are on track to deliver the plan.

Then you will want to adjust your forecast and plan as time goes by so that your plan stays current and your business can maintain clear visibility of its future cash flows.

If you used The Business Plan Shop to create your forecast, this is easy to do as actuals vs. forecast tracking is built-in our solution:

In simple terms, creating a 5-year business plan means plotting out where you want your business to go over the next five years. This involves setting goals, predicting what the market will be like, and estimating how much money you'll make.

Planning for the long term helps you prepare for challenges, take advantage of opportunities, and stay on track toward your goals.

Using business planning software makes this whole process faster and easier. It comes with ready-made templates, tools for working together with others, and ways to connect with other software you might use. This makes it simpler to organize information and make decisions.

These tools give small business owners the ability to make detailed plans that match up with their big-picture goals. It helps keep things clear, focused, and ready to adapt to whatever changes come your way in the business world.

That's it for now, we hope this article has helped you better understand how to write a 5-year business plan.

Please do not hesitate to contact us if you have any questions related to business planning or our solution.

Also on The Business Plan Shop

• How to do a market analysis for a business plan?
• Business plan vs budget: what's the difference?
• How to choose the best business plan software for you?
• 69 mistakes to avoid in your business plan
• Business plan steps: everything you need to know
• Practical examples of a business plan outline

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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What is a 5 year plan?

The benefits of creating a 5 year plan, how to create a 5 year plan in 6 easy steps, 5 year plan examples.

You may have heard of SMART goal setting (Specific, Measurable, Achievable, Realistic, and Time-bound goals), but have you ever heard of HARD goal setting?

Society has been pushing SMART goals since the early ’80s, but a 2020 study found that people who set SMART goals are much less likely to love their jobs , while people who set HARD goals are 53% more likely to love their jobs. 

But, what are HARD goals? HARD goals are defined as: 

• Heartfelt 
• Animated 
• Required 
• Difficult 

They are goals for which you have an emotional connection, strong visualization, great urgency, and difficulty. 

While there are laudable aspects of SMART goals, the study shows serious problems regarding the ‘achievable’ and realistic’ aspects of SMART goal-setting. 

Methodologies that emphasize creating difficult goals are far more likely to be successful and generate higher employee engagement.

In this article, we’ll show you how to use HARD goals to make a 5 year plan, as well as show you two 5 year plan examples.

A 5 year plan is a personal and/or professional list of goals that you want to achieve in the next 5 years. 

Oftentimes, 5 year plans include smaller, concrete goals, to help you achieve the larger goals on your list. 

For example, if a long-term goal is to buy a bigger house, then a smaller goal might include setting aside a certain amount of money each month to go toward a deposit on a home loan. 

Or, if one of your long-term goals is to be a certified nurse, then a smaller goal might include finding the best nursing program in your area or applying for a student loan.

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One of the best things about a 5 year plan is that it can significantly motivate you to create the life you want to live. Notice we said “create the life “ not just “achieve the goal.” A 5 year plan that works for you will be more effective if you think of your life holistically — how do you want to feel? What values will you be living? — as you create it. 

Whatever the specific goals you have in mind — whether it’s starting a business, becoming certified or developing expertise, competing in an event, having a child, or taking a big trip — a 5 year plan can help you move from dreaming into doing, wish into a reality. 

Here are some other benefits of creating a 5 year plan:

• It creates a starting point for a career, start-up idea, or personal goal . If you have a goal without a plan, it may not ever happen. But, if you know you want to be a real estate broker by 2026, you’re in a better position to start the process and take actionable steps to achieve that.
• It helps you stay focused and aligned with your ambitions, rather than your dreams constantly hanging out in the back seat. 
• It’s a consistent reminder of what you’re aiming toward, and what you need to do to get there. 

The trick is: keep your plan as visible as possible, make sure it’s what you deeply desire, and make sure your goals are specific, measurable, time-bound, and HARD. 

What should be included in a 5 year plan? 

Grab a pen and a piece of paper. Visualize your life 5 years from now, and write down everything you see without thinking or judging . If any fears, doubts, or negative emotions come up, that’s normal. The key is to ignore them and not attribute any meaning to them.

Use the following categories to help you write your complete brainstorm. 

How do you want your nutritional health , mental fitness , physical health , and mental health to look in 5 years?

Are you interested in being vegan? Do you want to lose weight? Do you want to start a yoga practice ? Would you like to regularly meet with a therapist? 

Relationships

Imagine your future professional relationships, friendships, and familial relationships. What do you want them to look like?

Do you want to join a networking group? Are you interested in starting a book club? Do you want to adopt a child? Do you want to take more trips with your partner?

Visualize your financial goals in these buckets: 

• Bills 
• Everyday expenses (i.e. groceries) 
• Flexible spending (i.e. entertainment) 
• Emergency savings 
• Goal savings 
• Investments 

What do you see?

Will you be contributing higher amounts to your 401(k)? Are you planning on saving for higher education? What do you want your emergency savings to look like? Do you want to save for a big trip?

Career/business

What are your career and business aspirations?

Do you picture yourself leading a huge team or an entire corporation? Do you want to be a digital nomad? Are you planning on starting a blog? 

The truth is, the world of business and how people buy and use goods and services is constantly changing — and fast. Don’t get hung up on roles and titles. Especially if you’re early in your career, you will discover career aspirations and opportunities that don’t even exist today. That being said, spend time thinking about what types of activities interest you, what type of environment you enjoy, what type of impact you want to make day-to-day.

If you’re feeling stuck about your career goals, consider:

• Taking career assessments
• Making a list of various career paths
• Finding the overlap between things you like and what companies are hiring for
• Working with mentors
• Building your network
• Creating your own job or business that lines up with your interests
• Listing your passions, values, skills, and interests, then finding or creating jobs that match some parts of the list

If you’re still unsure about your dream job, don’t worry. Go after jobs you’re interested in, learn from them, and eventually, you’ll come across pursuits you’re excited about. Many people also worry if they don’t have a passion. The reality is that pursuing interests and immersing yourself in the work is a good way to discover and develop passion . It’s also okay if you’re multi-passionate and interested in several jobs. 

Personal/spiritual/religious development

How do you want to grow personally and/or spiritually?

Are you interested in starting a home church? Do you want to work with a life coach or career coach? Do you want to meditate more? Would you like to start a gratitude or prayer practice? Do you want to build resilience ? 

Environment/organization/space/home

How do you picture your future environment?

Are you living in a tropical bungalow in Bali? Are you in a newly decorated and renovated home? Do you have a custom pool in your backyard? Are you living with your family to save money? Are you embracing minimalism?

Recreation/fun

What kinds of hobbies will you have in the future?

Will you be snowboarding every winter and surfing every summer? Are you interested in joining a soccer league? Do you want to take up cooking or art classes? 

Service/contribution

What kind of meaningful contribution would you like to be a part of?

Are you interested in volunteering for a vegetable co-op? Will you be tutoring kids on the weekends? Being a mentor ? Do you want to buy monthly groceries for one of your friends in need until they get back on their feet?

• Focus your plan
• Consider potential goals
• Determine your 'why?'
• Identify annual goals and create monthly goals
• Research how to reach your goals
• Adjust and revisit as needed

Here’s how to use your notes to create your plan:

1. Focus your plan

Take a look at your notes and decide which specific areas to focus on. 

You might decide that you’d rather focus on a few areas, like your health and career, or you might decide that you want to focus on all areas. 

Once you decide, grab a piece of paper for every area you plan to focus on and write the area of growth at the top of each. 

For example, if you decide just to focus on health and money, you’ll write ‘health’ at the top of your first paper and ‘money’ at the top of your second paper. 

2. Consider potential goals

Next, divide each paper into two columns. The left column will be for ‘goals,’ and the right column will be for ‘action steps’ or ‘skills.’ 

Then, decide which goals you want to achieve for each category. Remember that ‘specific’, ‘measurable’, and ‘time-bound’ are positive aspects of SMART goals. That said, the ‘achievable’ and ‘realistic’ aspects of SMART goals can deter you from going after more audacious goals. 

Challenge yourself to leave your comfort zone with HARD goals. 

This doesn’t mean setting goals with no chance of success. But, setting goals with, let’s say, a 50/50 chance of success is difficult and ambitious enough to give you a real sense of accomplishment when you succeed.

For example, on your ‘health’ paper, let’s say you decide to write the following in the ‘goals’ column: 

• Be more active
• Increase nutrients 

Then, you might write the following in the ‘action steps’ or ‘skills’ column: 

• Eat raw and organic fruits and vegetables three times a day 
• Walk for two hours a day
• Take a daily multivitamin and add superfoods to morning smoothies 

Next, decide between long-term and short term goals:

Review your list of goals. Decide which are better suited for short-term goals and which are better suited for long-term goals. 

For example, you might decide that being a teacher in Peru is a long-term goal while researching places to live in Peru is a short-term goal. You might start outlining your short- and long-term goals with a 30-60-90 day plan . 

3. Determine your ‘why?’

What’s your big ‘why?’ Why do you want to be a Teaching English Foreign Language (TEFL) teacher in Peru? 

Write your reason down and hang it in a place where you’ll see it daily. 

For example, “I want to be a TEFL teacher in Peru, so I can learn Spanish, help students develop their English skills, and fulfill my dream of exploring South America.”

4. Identify annual goals and create monthly goals

First, establish annual goals that will help you reach your 5 year goals. 

For example, if one of your 5 year goals is to adopt a child, then your first annual goal will probably consist of setting interviews with adoption agencies.

Next, break down your annual goals into monthly goals. 

For example, if your annual goal is becoming a TEFL teacher in Peru, your monthly breakdown could look like this:

• Month 1: Research reputable TEFL programs and set online appointments with TEFL advisors to decide which program you like best
• Months 2-3: Take your TEFL course, study for exams, and write essays
• Month 4: Take your final TEFL exam and wait for your certificate 
• Months 5: Edit your resume and look for a short TEFL internship
• Month 6: Intern with a TEFL academy and ask for feedback from your mentors
• Month 7: Create a lesson plan portfolio and start looking for jobs
• Month 8: Set up job interviews 
• Month 9-10: Land a job from one of your interviews and buy your plane tickets
• Month 11: Move to Peru, find a furnished apartment, and get to know your neighborhood
• Month 12: Start work at your new job as a TEFL teacher 

5. Research how to reach your goals

Next, research the best ways to reach your goals. 

If you plan on moving to Peru, are there some YouTube channels you can check out with tips on how to move? If you plan on creating a start-up, can you meet with some start-up experts that can mentor you? If you plan on learning how to bake macarons, is there a French macaron cookbook you can buy?

6. Adjust and revisit as needed

Life is full of unexpected twists and turns. While the 5 year plan is designed to help you stay focused and persist despite bumps and detours, sometimes the unexpected is you.

As you start working on your goals, you may realize that your interests and passions don't quite align. This is where self-directed learning can help.

Plan for periodic review, reflection, and adjustment as part of life. If your long-range plan still feels right, zoom in to your monthly goals. Decide if your monthly goals are working or if you need to adjust them.

For example, you might find that trying to conduct online interviews with a Peruvian academy is impossible. So you could decide to fly out early to meet directors in person instead. 

You may also decide that creating weekly or even daily goals is essential to hitting your monthly goals.

Revisit and revise your plan as often as needed (at least once a year). You might be surprised at how fast you reach some goals while other goals might take a bit longer than expected.

Here's an example of a 5 year plan for a student interested in being a Certified Public Accountant (CPA):

Here’s a personal 5 year plan example for someone interested in becoming fluent in Spanish:

Creating a 5 year plan is one of the best ways to see your dreams come to life. 

At BetterUp, we love seeing individuals reach their fullest potential and achieve their dreams. Request a demo today to find out more.

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Maggie Wooll, MBA

Maggie Wooll is a researcher, author, and speaker focused on the evolving future of work. Formerly the lead researcher at the Deloitte Center for the Edge, she holds a Bachelor of Science in Education from Princeton University and an MBA from the University of Virginia Darden School of Business. Maggie is passionate about creating better work and greater opportunities for all.

The 3 year plan: Build a roadmap to success

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5 Year Business Plan Template

The following detailed overview of a five-year business plan is designed to assist your efforts in creating the structure your business requires. In the business plan template outlined below, you’ll find the essential components of every 5 year business plan template – a company overview, analyses of competitors, industry data and target market demographics. Also included are a financial plan, a marketing plan and an operations plan. The 5 year business plan will provide the strategic roadmap required for ultimate success. Let’s get your five-year business plan started.

Download our Ultimate Business Plan Template here >

Five Year Business Plan Template

Executive summary.

The first step to creating a business plan is, oddly, the ending of it. An executive summary is placed in the front of the business plan; however, it cannot be completed until the fully detailed business plan is in place. At that time, it is used as a specific overview of the business plan. The executive summary allows busy executives to quickly grasp the main ideas and make informed decisions about the business concepts and plans; as such, present succinct, clear details in readable sentences that are defined and positive in tone.

Although placed in the business plan at the end of the process, the executive summary helps drive the project forward. Within the executive summary, an overview of the business, including its mission, goals, and the problem it solves will be highlighted. The competitive advantage, target market, and financial projections will be detailed, as well.

Company Overview

After the executive summary, a full company overview is added into the business plan. Include the basic information about the company, detailing the location, name, mission statement, and the legal structure for the business. Outline the jurisdiction in which the company is registered and add the names of the founders and management team. List the founders and key members of the management team again, highlighting their backgrounds, expertise, and roles within the company. Their background information adds depth of experience to that of yours and reflects well with interested lenders or investors. These facts also offer an informed decision base for those considering working for the business. Finally, the unique selling proposition and competitive advantage of the products or services produced by the business will be detailed.

Industry Analysis

In the next segment of the business plan, an industry analysis is compiled, provided as market research data and analyzed in relation to the business. The outcome of the analysis is included in the business plan. It offers a detailed look at the current state and future prospects of the industry sector, market trends, competitive targets, customer preferences and regulatory influences. The analysis within the business plan is suggestive of positive growth, flexibility, and data-driven outcomes that serve the business. The industry analysis also helps identify growth potential, possible risks, and key challenges that may lie ahead. If needed after reading the industry analysis, a business executive may choose to pivot and reposition plans to make informed choices with better outcomes.

Customer Analysis

In the customer analysis section of the business plan, the vital component of the business strategy is revealed: that of the customers who drive the profit margins. The demographics of customers is highly valuable, as the more an understanding of customers’ preferences, likes, dislikes, habits, purchasing choices, and delivery of products is understood and used in business decisions, the better and stronger the positive outcomes. With all of the input and market research data, an important, deeper understanding of the target market is gained, which enables the business to better tailor products, services and the initial marketing efforts accordingly. The market analysis is not only valuable; it is dependable.

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Competitive Analysis

At this juncture, the competitive analysis and data-driven results are obtained to round out the analyses sections of the business plan. The competitive analysis provides valuable insights into the strengths and weaknesses of key competitors operating in the same market. By evaluating and understanding the competitive landscape, businesses can identify opportunities for differentiation to gain that much-desired competitive edge over competitors. The competitive analysis should also reveal everything available about competitors, including brand reputation, customer loyalty, distribution channels and the financial resources they hold. Because the goal of the business is to capitalize on market opportunities, take note of the environment of every competitor directly in competition with the business and make changes where needed in the unique value propositions offered to customers.

Marketing Plan

Strategic marketing naturally follows the analyses of the business landscape and those who compete within it. Use tools to create a dynamic and strategic marketing plan in this section of the business plan. A strategic marketing analysis is one that utilizes every scrap of data available to form the best message for the target audience. Gathered and pressed into service, the data will inform best practices for marketing methods, and best means of sending those messages to the target audience. Marketing plans will naturally follow well-designed and specific data analysis. Use a variety of means to deliver the marketing messages, according to the strengths of the business and the consumer preferences involved. In short, your marketing strategy will encompass various elements, such as branding, advertising, digital marketing, public relations, and social media to create a cohesive and impactful marketing campaign. The ultimate objective of the marketing plan is to achieve your desired business outcomes. As it should.

Operations Plan

A business plan is not complete without a detailed operations plan. A five-year plan will typically outline the first year and then follow with successively more speculative plans for organization as the years progress; however, some facts relating to manufacturing processes will remain stable and the same throughout. These types of operations can always be included in trend discussions and help stabilize the business overall. Plan the operations functions to align the activities of the various departments or teams with broader organizational objectives. Processes and procedures are the highlights of the operations plan, along with the timelines and scheduling of the implementation of those objectives. Knowing how well the business will actually conduct business five years in the future is the perfect starting place for success right now.

Management Team

Comprised of experienced professionals, the management team is highlighted in detail as the operations plans are revealed. The present key leaders understand the collaboration and strong leadership skills needed to effectively manage and operate the entire team and they will be guided by a customer-centric approach. A detailed description of the skills of team leaders, business partners and executives, along with the relevant professional backgrounds will complete this section of the business plan. You should also detail the operational structure of the company here.

Financial Plan

In the final portion of the business plan, the financial plan is fully extended and specifically detailed to offer an informed snapshot of the health of the business in the present, as well as in the five-year period of sustained growth that is anticipated ahead. It is the overlook of the financial goals, along with the strategies and actions needed to achieve them. The five-year financial projections outlines the financial stability, growth, and long-term sustainability of the business.

The 5 year plan encompasses various key areas that are crucial for success, including revenue generation, expense management, investment strategies, risk assessment, and financial performance monitoring for the business during the years ahead. It also outlines key aspects, such as budgeting, savings, investment plans, and debt management that can adapt to changing circumstances and it maximizes the financial stability and growth projections of the five-year plan. Ultimately, the financial plan serves as a roadmap for informed decision-making and the long-term financial success that extends well beyond the five-year period under discussion.

Crafting a well-thought-out, traditional business plan is the first step in the business planning process and it is vital for any business owner. With our 5 year business plan pdf provided here, a vital and simply inviting business plan can be created for your own purposes and those potential stakeholders who will want to review them. We trust the creation of your business plan will lead to new beginnings, exciting and fulfilling directions and sustained long-term growth in successful years of business ahead.

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How to Create a 5-Year Business Plan in 8 Easy Steps

• March 11, 2024

12 Min Read

As an entrepreneur or a business owner, you know it can be challenging enough to predict business growth for the long term. And the business decisions you make today will shape your company’s future.

Well, having a strategic plan for the next three or even five years will guide you toward long-term business goals and increase the potential for success.

So, why take a chance? Keep a solid five-year business plan with you!

Need help writing a business plan from scratch? Don’t worry;  we’re here to support you with our 5-year business plan template .

This will help you learn more about the business plan for 5 years and what components you should include in it. Also, it allows you to organize ideas, set realistic growth targets, and refine your business strategy that will attract investors.

Sounds good, right? Let’s get started.

What is a 5 Year Business Plan?

A 5-year business plan is a professional document that serves as a strategic roadmap for your company’s future. It outlines business goals, strategies, financial projections, and growth plans for the next five years. 

It helps you set clear objectives, define target customers, allocate resources effectively, mitigate risks, adapt to changing market conditions, and make informed decisions.

Ultimately, a well-developed 5-year plan keeps you on track and drives sustainable growth and profitability over the specified timeframe.

Why do you need a 5 year business plan?

Writing a solid business plan is one of the most important aspects of your entrepreneurial journey.

A 5-year business plan gives you a structural framework to think strategically about your company’s plans over the next few years. It helps you organize your business idea and guide your strategic decision-making.

The following are a few key reasons why it’s valuable to have a 5-year business plan:

Highlight your long-term vision

A 5-year plan helps you articulate your long-term vision and define a set of strategic goals for your business over the next five years. This will allow you to stay focused on your objectives and make smart decisions to navigate the complexities of your business environment.

Build investor confidence

If you’re looking for investors or stakeholders to fund your business expansion, a well-written 5-year plan is necessary. It demonstrates your commitment to long-term growth and assures investors that your business will make profits. So, this will increase their confidence and belief in your long-term strategy.

Mitigate potential risks

Analyzing and identifying potential risks is the key aspect of any business. So, an actionable plan helps you develop strategies to mitigate those risks and ensure your business continuity. If there is economic volatility, regulatory transitions, or technical disruptions, a 5-year business plan helps you anticipate and prepare for business challenges.

Promote strategic planning

A good 5-year business plan enables you to think about the business and how to attain sustainable growth and success over the next few years. It also helps you make strategic hiring decisions and anticipate future staffing needs. By identifying market trends, competitors, and internal capabilities, you can enhance strategies to capitalize on opportunities and reduce potential risks.

Now that you know why a business plan is necessary, it’s time to understand what to include in a detailed 5-year plan.

What to include in your detailed five-year business plan

1. executive summary.

An executive summary is a brief introduction to your 5-year business plan and summarizes each component you mentioned in the document.

Though it is the first section, it is written in the last, since it provides a high-level overview of the complete business plan.

The executive summary is the introductory section of the plan, so its primary goal is to quickly attract readers and convince them to delve further into the rest of the plan.

Here are a few details you may consider including in your executive summary:

• A quick overview of your business idea and objectives
• Your company’s mission and vision statements
• Industry analysis and market research
• Sales and marketing plan
• Key performance indicators
• Introduction of your management team
• Financial forecasts for the next five years

Remember that you keep your summary simple, concise, and compelling enough to build investors or readers trust.

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2. Business Overview

As its name indicates, the business overview section provides a detailed description of your company. It covers all the essential information, from a business idea to its long-term goals.

Since you’ll give a brief company description in the executive summary, this chapter would be an expansion on it, providing an in-depth understanding of your business.

So, this section makes it easier for readers or potential business partners to quickly understand and confirm the nature of your business, such as what your company does, who the potential customers are, and how you plan to reach your objectives.

You may include all the following crucial elements in this section:

• The type of small business you operate
• A brief history or background details of your business
• Achievements or milestones you’ve achieved
• Business legal structure(s-corp, LLC, sole proprietorship, etc.)
• Mission statement
• Short-term goals and long-term objectives

3. Market Analysis

Industry analysis and market research is a detailed breakdown of the external business environment. It provides a thorough understanding of the specific industry or sector in which your business will operate.

This section helps your readers or potential investors to easily understand the broader industry, target customers, emerging trends, and market demands.

Apart from that, it helps you and your team to analyze and identify the untapped key areas in the market and develop strategies to stand out from the competitors.

Here are some specific details you may include:

• Market size and growth potential
• Target market
• Ideal customers, along with their preferences and buying habits
• Competitors’ research and SWOT analysis
• Industry trends
• Regulatory environment

4. Product and Services

In the product and services section, you may provide details of your product or service range, main features, pricing, and more. It helps you demonstrate the current capabilities of your business and highlight the USPs.

So, you may consider adding the below points in this section:

• Product/service description
• Pricing details
• Quality standards
• Future product development plan

While you’re planning how to start your own business, you have to explore the market and determine how your offerings will encounter customer problems and satisfy their needs better than competitors.

5. Sales and Marketing Strategies

Your sales and marketing plan outlines the strategies you’ll use to reach the target audience and how you’ll bring more customers by promoting your products/services to them.

A well-written marketing plan will encourage you to create effective campaigns and simplify your marketing efforts while maintaining the marketing budget and maximizing return on investment.

Thus, you may describe a list of sales strategies and promotional tactics to attract new customers and retain existing ones.

Here’s a list of key components you may include in this section:

• Target audience
• Marketing strategy
• Sales approach
• Sales and marketing goals
• Customer retention program

6. Operations Plan

As you’ve mentioned your business goals in the previous sections, now it’s time to define how you’ll meet those goals.

In your operations plan, you’ll need to outline all the details of everyday business operations and activities. This will help you and your team to define responsibilities, daily tasks, and short-term goals you plan to achieve, keeping track of your future goals.

Well, here is some distinct information you should include in the operations plan:

• Staffing and training
• Operational process
• Supply chain & Inventory management
• Facilities and equipment

Note that your operations plan is a living document, you may adjust and update it as needed.

7. Management Team

A well-trained and experienced management team is crucial for driving your business ahead.

So, highlight your business owners and key executives in this section, along with their roles & responsibilities, educational qualifications, industry experience, and how you plan to compensate them.

It allows readers to easily understand your management team’s background, skills, and expertise that help you grow your company and make informed business decisions.

The following information you may consider including in the management team section:

• Company owner profile
• Resume-styled summary of key members
• Organizational structure
• Compensation plan
• Advisory board members

8. 5-year Financial Projections

A financial plan is the most crucial aspect of your five-year business plan, as potential investors or lenders want to know more about your business profit margins.

It provides a detailed blueprint of your business’s 5-year financial reports broken out both monthly or quarterly for the first year of operation and then annually.

While creating an in-depth financial plan for the next 5-years, you’ll need to highlight all the below factors:

• Revenue forecast
• Cost estimates
• Profitability analysis
• Cash flow projections
• Break-even analysis
• Business ratios

In addition to that, if you’re seeking funding or investors, you will need to summarize exactly how much money you need, how you plan to use these funds, and how you pay it back.

Well, having realistic financial forecasts at your hand can help you evaluate your business’s financial health and growth potential in the long run.

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Tips for creating a five-year business plan

Now that you understand what to include in a business plan, it’s time to consider how you’ll actually create the document. Here are some tips for drafting a comprehensive five-year business plan.

This will help you prepare a business plan that serves its purpose and can be an easy reference for the years ahead.

Conduct thorough analysis

Conduct a thorough analysis of the market, competition, internal capabilities, and the current financial situation of your business before you finalize your five-year plan. Also, identify your strengths and address weaknesses. This helps you pinpoint potential risks and opportunities that impact your business and strategic decisions for the next few years.

Set realistic financial goals

While setting your business objectives, it’s important to define specific, measurable, and achievable goals that you can accomplish in the years ahead. Try to consider a few factors, such as marker conditions, emerging trends, and your business capabilities when setting revenue targets, profit margins, and other financial milestones. This will help you stay focused and motivated.

Demonstrate the potential for ROI

A 5-year plan should effectively show the investors and stakeholders that your business has the potential for return on investment(ROI). It will help you outline how your strategic initiatives will generate revenue and profitability over the next five years. So you can provide a clear opportunity for investment and support.

Develop contingency plans

Developing a contingency plan is crucial for the potential challenges that may arise over the next few years. You can consider several factors like economic downturns, supply chain disruptions, regulatory changes, or other unforeseen events. This will mitigate the impact of these risks and ensure that your business runs smoothly even in challenging circumstances.

Ensure clear communicate

A detailed five-year plan allows entrepreneurs and business owners to clearly communicate their business goals, milestones, and strategies. So this will be easy to understand for all the stakeholders, including potential partners, investors, and employees. You can also use charts, graphs, and visuals to share intricate details and make your plan more compelling.

Review and update regularly

Once you have crafted your entire business plan, you should regularly schedule reviews to assess progress, update assumptions, and update strategies as needed. Since the business plan is a living document, it evolves over time based on new facts or varying business environments. By revising and updating your plan, you make sure that it will remain relevant and effective.

So, try to keep in mind these few factors while creating a 5-year plan. Now, let’s move forward and explore several types of business plan templates.

Examples of 5-year business plan templates

As there are several types of 5-year business plan templates available, no two business owners build the same 5-year plans.

This is so because the business plan template that works best for your company depends on the age of your business, objectives, and the purpose behind using the plan.

Here are a few examples that are tailored to different aspects of business planning:

Traditional 5-year business plan template

This kind of business plan template follows the standard format as you establish a new business or startup, define the target audience, and market your products/services. It includes lengthy sections about company overview, market analysis, marketing and sales strategies, or financial forecasting. So, this will provide a detailed plan for your business over the next 5 years.

Strategic plan for growth and expansion

When you’ve been running the business for a few years and thinking about expansion or growth, a strategic growth plan might be your choice. It will help you approach your growth strategically and provide the best opportunities to identify risks and techniques to mitigate them. So, this type of template helps align your business activities with long-term objectives.

Simple one-page plan

As the name suggests, it is a single-page business plan that helps you provide a high-level overview of your business to the partners, investors, or suppliers. Since it is shorter in length, it highlights the most crucial points, and even writing a one-page business plan can be much simpler and quicker compared to the traditional business plan.

Start preparing your business plan

Finally, with the help of details and resources provided in this guide, you’re well-equipped to start an exciting journey of preparing a successful 5-year business plan.

Whether you’re an experienced entrepreneur or a new business owner, you can consider using a business plan app like Upmetrics to streamline your business planning approach.

Upmetrics is a user-friendly platform that provides easy-to-follow guides, 400+ business plan examples, and AI support to create an actionable plan in manageable steps. It also helps you develop realistic financial projections if needed or when you feel stuck with a financial plan.

So, start writing your plan today and bring your vision to life!

Make your plan in half the time & twice the impact with Upmetrics

Fill-in-the-blanks, AI-assistance, and automatic financials make it easy.

Frequently Asked Questions

Is it good to make a 5 year plan.

Creating a 5-year or long-term plan is highly beneficial for your businesses. It helps you set clear goals, anticipate potential risks & challenges, develop realistic financial outlook, demonstrate growth potential to investors, and build their confidence. So, it guides you in the right direction to attain sustainable growth and success over the long term. 

How much detail should I include in the financial projections?

The following are a few key elements that you need to include in your financial projections:

• Sales forecast
• Expenses budget
• Cash flow statement
• Profit and loss statement (Income statement)
• Balance sheet

How long should my 5-year business plan be?

The length of a 5-year business plan typically ranges from 15-35 pages and beyond as it depends on your purpose, business concept, objectives, resources you plan to use, and the strategies you will need to achieve your business goals.

Can I write a business plan myself?

Of course, you can write your business plan by yourself. If you are new to the planning process, you may get help from various resources available. You may consider including business plan software, online guides, templates, strategic planning sessions, and professional writers.

What's the best way to format my 5-year plan?

The best way to format your 5-year plan depends on your specific needs, target market, and business strategy. You may follow the below guidelines to create a professional-looking business plan:

• Write a compelling executive summary
• Provide a detailed company overview
• Conduct thorough market and industry analysis
• Describe the products and services
• Outline sales and marketing strategy
• Summarize operations plan
• Introduce your management team
• Present 5-year financial forecast

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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24 of My Favorite Sample Business Plans & Examples For Your Inspiration

Published: February 06, 2024

I believe that reading sample business plans is essential when writing your own.

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As you explore business plan examples from real companies and brands, it’s easier for you to learn how to write a good one.

But what does a good business plan look like? And how do you write one that’s both viable and convincing. I’ll walk you through the ideal business plan format along with some examples to help you get started.

Table of Contents

Business Plan Format

Business plan types, sample business plan templates, top business plan examples.

Ask any successful sports coach how they win so many games, and they’ll tell you they have a unique plan for every single game. To me, the same logic applies to business.

If you want to build a thriving company that can pull ahead of the competition, you need to prepare for battle before breaking into a market.

Business plans guide you along the rocky journey of growing a company. And if your business plan is compelling enough, it can also convince investors to give you funding.

With so much at stake, I’m sure you’re wondering where to begin.

Free Business Plan Template

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Fill out the form to get your free template.

First, you’ll want to nail down your formatting. Most business plans include the following sections.

1. Executive Summary

I’d say the executive summary is the most important section of the entire business plan. 

Why? Essentially, it's the overview or introduction, written in a way to grab readers' attention and guide them through the rest of the business plan. This is important, because a business plan can be dozens or hundreds of pages long.

There are two main elements I’d recommend including in your executive summary:

Company Description

This is the perfect space to highlight your company’s mission statement and goals, a brief overview of your history and leadership, and your top accomplishments as a business.

Tell potential investors who you are and why what you do matters. Naturally, they’re going to want to know who they’re getting into business with up front, and this is a great opportunity to showcase your impact.

Need some extra help firming up those business goals? Check out HubSpot Academy’s free course to help you set goals that matter — I’d highly recommend it

Products and Services

To piggyback off of the company description, be sure to incorporate an overview of your offerings. This doesn’t have to be extensive — just another chance to introduce your industry and overall purpose as a business.

In addition to the items above, I recommend including some information about your financial projections and competitive advantage here too.:

Keep in mind you'll cover many of these topics in more detail later on in the business plan. So, keep the executive summary clear and brief, and only include the most important takeaways.

Executive Summary Business Plan Examples

This example was created with HubSpot’s business plan template:

This executive summary is so good to me because it tells potential investors a short story while still covering all of the most important details.

Image Source

Tips for Writing Your Executive Summary

• Start with a strong introduction of your company, showcase your mission and impact, and outline the products and services you provide.
• Clearly define a problem, and explain how your product solves that problem, and show why the market needs your business.
• Be sure to highlight your value proposition, market opportunity, and growth potential.
• Keep it concise and support ideas with data.
• Customize your summary to your audience. For example, emphasize finances and return on investment for venture capitalists.

Check out our tips for writing an effective executive summary for more guidance.

2. Market Opportunity

This is where you'll detail the opportunity in the market.

The main question I’d ask myself here is this: Where is the gap in the current industry, and how will my product fill that gap?

More specifically, here’s what I’d include in this section:

• The size of the market
• Current or potential market share
• Trends in the industry and consumer behavior
• Where the gap is
• What caused the gap
• How you intend to fill it

To get a thorough understanding of the market opportunity, you'll want to conduct a TAM, SAM, and SOM analysis and perform market research on your industry.

You may also benefit from creating a SWOT analysis to get some of the insights for this section.

Market Opportunity Business Plan Example

I like this example because it uses critical data to underline the size of the potential market and what part of that market this service hopes to capture.

Tips for Writing Your Market Opportunity Section

• Focus on demand and potential for growth.
• Use market research, surveys, and industry trend data to support your market forecast and projections.
• Add a review of regulation shifts, tech advances, and consumer behavior changes.
• Refer to reliable sources.
• Showcase how your business can make the most of this opportunity.

3. Competitive Landscape

Since we’re already speaking of market share, you'll also need to create a section that shares details on who the top competitors are.

After all, your customers likely have more than one brand to choose from, and you'll want to understand exactly why they might choose one over another.

My favorite part of performing a competitive analysis is that it can help you uncover:

• Industry trends that other brands may not be utilizing
• Strengths in your competition that may be obstacles to handle
• Weaknesses in your competition that may help you develop selling points
• The unique proposition you bring to the market that may resonate with customers

Competitive Landscape Business Plan Example

I like how the competitive landscape section of this business plan below shows a clear outline of who the top competitors are.

It also highlights specific industry knowledge and the importance of location, which shows useful experience in this specific industry. 

This can help build trust in your ability to execute your business plan.

Tips for Writing Your Competitive Landscape

• Complete in-depth research, then emphasize your most important findings.
• Compare your unique selling proposition (USP) to your direct and indirect competitors.
• Show a clear and realistic plan for product and brand differentiation.
• Look for specific advantages and barriers in the competitive landscape. Then, highlight how that information could impact your business.
• Outline growth opportunities from a competitive perspective.
• Add customer feedback and insights to support your competitive analysis.

4. Target Audience

Use this section to describe who your customer segments are in detail. What is the demographic and psychographic information of your audience?

If your immediate answer is "everyone," you'll need to dig deeper. Here are some questions I’d ask myself here:

• What demographics will most likely need/buy your product or service?
• What are the psychographics of this audience? (Desires, triggering events, etc.)
• Why are your offerings valuable to them?

I’d also recommend building a buyer persona to get in the mindset of your ideal customers and be clear on why you're targeting them.

Target Audience Business Plan Example

I like the example below because it uses in-depth research to draw conclusions about audience priorities. It also analyzes how to create the right content for this audience.

Tips for Writing Your Target Audience Section

• Include details on the size and growth potential of your target audience.
• Figure out and refine the pain points for your target audience , then show why your product is a useful solution.
• Describe your targeted customer acquisition strategy in detail.
• Share anticipated challenges your business may face in acquiring customers and how you plan to address them.
• Add case studies, testimonials, and other data to support your target audience ideas.
• Remember to consider niche audiences and segments of your target audience in your business plan.

5. Marketing Strategy

Here, you'll discuss how you'll acquire new customers with your marketing strategy. I’d suggest including information:

• Your brand positioning vision and how you'll cultivate it
• The goal targets you aim to achieve
• The metrics you'll use to measure success
• The channels and distribution tactics you'll use

I think it’s helpful to have a marketing plan built out in advance to make this part of your business plan easier.

Marketing Strategy Business Plan Example

This business plan example includes the marketing strategy for the town of Gawler.

In my opinion, it really works because it offers a comprehensive picture of how they plan to use digital marketing to promote the community.

Tips for Writing Your Marketing Strategy

• Include a section about how you believe your brand vision will appeal to customers.
• Add the budget and resources you'll need to put your plan in place.
• Outline strategies for specific marketing segments.
• Connect strategies to earlier sections like target audience and competitive analysis.
• Review how your marketing strategy will scale with the growth of your business.
• Cover a range of channels and tactics to highlight your ability to adapt your plan in the face of change.

6. Key Features and Benefits

At some point in your business plan, you'll need to review the key features and benefits of your products and/or services.

Laying these out can give readers an idea of how you're positioning yourself in the market and the messaging you're likely to use. It can even help them gain better insight into your business model.

Key Features and Benefits Business Plan Example

In my opinion, the example below does a great job outlining products and services for this business, along with why these qualities will attract the audience.

Tips for Writing Your Key Features and Benefits

• Emphasize why and how your product or service offers value to customers.
• Use metrics and testimonials to support the ideas in this section.
• Talk about how your products and services have the potential to scale.
• Think about including a product roadmap.
• Focus on customer needs, and how the features and benefits you are sharing meet those needs.
• Offer proof of concept for your ideas, like case studies or pilot program feedback.
• Proofread this section carefully, and remove any jargon or complex language.

7. Pricing and Revenue

This is where you'll discuss your cost structure and various revenue streams. Your pricing strategy must be solid enough to turn a profit while staying competitive in the industry. 

For this reason, here’s what I’d might outline in this section:

• The specific pricing breakdowns per product or service
• Why your pricing is higher or lower than your competition's
• (If higher) Why customers would be willing to pay more
• (If lower) How you're able to offer your products or services at a lower cost
• When you expect to break even, what margins do you expect, etc?

Pricing and Revenue Business Plan Example

I like how this business plan example begins with an overview of the business revenue model, then shows proposed pricing for key products.

Tips for Writing Your Pricing and Revenue Section

• Get specific about your pricing strategy. Specifically, how you connect that strategy to customer needs and product value.
• If you are asking a premium price, share unique features or innovations that justify that price point.
• Show how you plan to communicate pricing to customers.
• Create an overview of every revenue stream for your business and how each stream adds to your business model as a whole.
• Share plans to develop new revenue streams in the future.
• Show how and whether pricing will vary by customer segment and how pricing aligns with marketing strategies.
• Restate your value proposition and explain how it aligns with your revenue model.

8. Financials

To me, this section is particularly informative for investors and leadership teams to figure out funding strategies, investment opportunities, and more.

 According to Forbes , you'll want to include three main things:

• Profit/Loss Statement - This answers the question of whether your business is currently profitable.
• Cash Flow Statement - This details exactly how much cash is incoming and outgoing to give insight into how much cash a business has on hand.
• Balance Sheet - This outlines assets, liabilities, and equity, which gives insight into how much a business is worth.

While some business plans might include more or less information, these are the key details I’d include in this section.

Financials Business Plan Example

This balance sheet is a great example of level of detail you’ll need to include in the financials section of your business plan.

Tips for Writing Your Financials Section

• Growth potential is important in this section too. Using your data, create a forecast of financial performance in the next three to five years.
• Include any data that supports your projections to assure investors of the credibility of your proposal.
• Add a break-even analysis to show that your business plan is financially practical. This information can also help you pivot quickly as your business grows.
• Consider adding a section that reviews potential risks and how sensitive your plan is to changes in the market.
• Triple-check all financial information in your plan for accuracy.
• Show how any proposed funding needs align with your plans for growth.

As you create your business plan, keep in mind that each of these sections will be formatted differently. Some may be in paragraph format, while others could be charts or graphs.

The formats above apply to most types of business plans. That said, the format and structure of your plan will vary by your goals for that plan. 

So, I’ve added a quick review of different business plan types. For a more detailed overview, check out this post .

1. Startups

Startup business plans are for proposing new business ideas.

If you’re planning to start a small business, preparing a business plan is crucial. The plan should include all the major factors of your business.

You can check out this guide for more detailed business plan inspiration .

2. Feasibility Studies

Feasibility business plans focus on that business's product or service. Feasibility plans are sometimes added to startup business plans. They can also be a new business plan for an already thriving organization.

3. Internal Use

You can use internal business plans to share goals, strategies, or performance updates with stakeholders. In my opinion, internal business plans are useful for alignment and building support for ambitious goals.

4. Strategic Initiatives

Another business plan that's often for sharing internally is a strategic business plan. This plan covers long-term business objectives that might not have been included in the startup business plan.

5. Business Acquisition or Repositioning

When a business is moving forward with an acquisition or repositioning, it may need extra structure and support. These types of business plans expand on a company's acquisition or repositioning strategy.

Growth sometimes just happens as a business continues operations. But more often, a business needs to create a structure with specific targets to meet set goals for expansion. This business plan type can help a business focus on short-term growth goals and align resources with those goals.

Now that you know what's included and how to format a business plan, let's review some of my favorite templates.

1. HubSpot's One-Page Business Plan

Download a free, editable one-page business plan template..

The business plan linked above was created here at HubSpot and is perfect for businesses of any size — no matter how many strategies we still have to develop.

Fields such as Company Description, Required Funding, and Implementation Timeline give this one-page business plan a framework for how to build your brand and what tasks to keep track of as you grow.

Then, as the business matures, you can expand on your original business plan with a new iteration of the above document.

Why I Like It

This one-page business plan is a fantastic choice for the new business owner who doesn’t have the time or resources to draft a full-blown business plan. It includes all the essential sections in an accessible, bullet-point-friendly format. That way, you can get the broad strokes down before honing in on the details.

2. HubSpot's Downloadable Business Plan Template

We also created a business plan template for entrepreneurs.

The template is designed as a guide and checklist for starting your own business. You’ll learn what to include in each section of your business plan and how to do it.

There’s also a list for you to check off when you finish each section of your business plan.

Strong game plans help coaches win games and help businesses rocket to the top of their industries. So if you dedicate the time and effort required to write a workable and convincing business plan, you’ll boost your chances of success and even dominance in your market.

This business plan kit is essential for the budding entrepreneur who needs a more extensive document to share with investors and other stakeholders.

It not only includes sections for your executive summary, product line, market analysis, marketing plan, and sales plan, but it also offers hands-on guidance for filling out those sections.

3. LiveFlow’s Financial Planning Template with built-in automation

This free template from LiveFlow aims to make it easy for businesses to create a financial plan and track their progress on a monthly basis.

The P&L Budget versus Actual format allows users to track their revenue, cost of sales, operating expenses, operating profit margin, net profit, and more.

The summary dashboard aggregates all of the data put into the financial plan sheet and will automatically update when changes are made.

Instead of wasting hours manually importing your data to your spreadsheet, LiveFlow can also help you to automatically connect your accounting and banking data directly to your spreadsheet, so your numbers are always up-to-date.

With the dashboard, you can view your runway, cash balance, burn rate, gross margins, and other metrics. Having a simple way to track everything in one place will make it easier to complete the financials section of your business plan.

This is a fantastic template to track performance and alignment internally and to create a dependable process for documenting financial information across the business. It’s highly versatile and beginner-friendly.

It’s especially useful if you don’t have an accountant on the team. (I always recommend you do, but for new businesses, having one might not be possible.)

4. ThoughtCo’s Sample Business Plan

One of the more financially oriented sample business plans in this list, BPlan’s free business plan template dedicates many of its pages to your business’s financial plan and financial statements.

After filling this business plan out, your company will truly understand its financial health and the steps you need to take to maintain or improve it.

I absolutely love this business plan template because of its ease-of-use and hands-on instructions (in addition to its finance-centric components). If you feel overwhelmed by the thought of writing an entire business plan, consider using this template to help you with the process.

6. Harvard Business Review’s "How to Write a Winning Business Plan"

Most sample business plans teach you what to include in your business plan, but this Harvard Business Review article will take your business plan to the next level — it teaches you the why and how behind writing a business plan.

With the guidance of Stanley Rich and Richard Gumpert, co-authors of " Business Plans That Win: Lessons From the MIT Enterprise Forum ", you'll learn how to write a convincing business plan that emphasizes the market demand for your product or service.

You’ll also learn the financial benefits investors can reap from putting money into your venture rather than trying to sell them on how great your product or service is.

This business plan guide focuses less on the individual parts of a business plan, and more on the overarching goal of writing one. For that reason, it’s one of my favorites to supplement any template you choose to use. Harvard Business Review’s guide is instrumental for both new and seasoned business owners.

7. HubSpot’s Complete Guide to Starting a Business

If you’re an entrepreneur, you know writing a business plan is one of the most challenging first steps to starting a business.

Fortunately, with HubSpot's comprehensive guide to starting a business, you'll learn how to map out all the details by understanding what to include in your business plan and why it’s important to include them. The guide also fleshes out an entire sample business plan for you.

If you need further guidance on starting a business, HubSpot's guide can teach you how to make your business legal, choose and register your business name, and fund your business. It will also give small business tax information and includes marketing, sales, and service tips.

This comprehensive guide will walk you through the process of starting a business, in addition to writing your business plan, with a high level of exactitude and detail. So if you’re in the midst of starting your business, this is an excellent guide for you.

It also offers other resources you might need, such as market analysis templates.

8. Panda Doc’s Free Business Plan Template

PandaDoc’s free business plan template is one of the more detailed and fleshed-out sample business plans on this list. It describes what you should include in each section, so you don't have to come up with everything from scratch.

Once you fill it out, you’ll fully understand your business’ nitty-gritty details and how all of its moving parts should work together to contribute to its success.

This template has two things I love: comprehensiveness and in-depth instructions. Plus, it’s synced with PandaDoc’s e-signature software so that you and other stakeholders can sign it with ease. For that reason, I especially love it for those starting a business with a partner or with a board of directors.

9. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers several free business plan templates that can be used to inspire your own plan.

Before you get started, you can decide what type of business plan you need — a traditional or lean start-up plan.

Then, you can review the format for both of those plans and view examples of what they might look like.

We love both of the SBA’s templates because of their versatility. You can choose between two options and use the existing content in the templates to flesh out your own plan. Plus, if needed, you can get a free business counselor to help you along the way.

I’ve compiled some completed business plan samples to help you get an idea of how to customize a plan for your business.

I chose different types of business plan ideas to expand your imagination. Some are extensive, while others are fairly simple.

Let’s take a look.

1. LiveFlow

One of the major business expenses is marketing. How you handle your marketing reflects your company’s revenue.

I included this business plan to show you how you can ensure your marketing team is aligned with your overall business plan to get results. The plan also shows you how to track even the smallest metrics of your campaigns, like ROI and payback periods instead of just focusing on big metrics like gross and revenue.

Fintech startup, LiveFlow, allows users to sync real-time data from its accounting services, payment platforms, and banks into custom reports. This eliminates the task of pulling reports together manually, saving teams time and helping automate workflows.

"Using this framework over a traditional marketing plan will help you set a profitable marketing strategy taking things like CAC, LTV, Payback period, and P&L into consideration," explains LiveFlow co-founder, Lasse Kalkar .

When it came to including marketing strategy in its business plan, LiveFlow created a separate marketing profit and loss statement (P&L) to track how well the company was doing with its marketing initiatives.

This is a great approach, allowing businesses to focus on where their marketing dollars are making the most impact. Having this information handy will enable you to build out your business plan’s marketing section with confidence. LiveFlow has shared the template here . You can test it for yourself.

2. Lula Body

Sometimes all you need is a solid mission statement and core values to guide you on how to go about everything. You do this by creating a business plan revolving around how to fulfill your statement best.

For example, Patagonia is an eco-friendly company, so their plan discusses how to make the best environmentally friendly products without causing harm.

A good mission statement  should not only resonate with consumers but should also serve as a core value compass for employees as well.

Patagonia has one of the most compelling mission statements I’ve seen:

"Together, let’s prioritise purpose over profit and protect this wondrous planet, our only home."

It reels you in from the start, and the environmentally friendly theme continues throughout the rest of the statement.

This mission goes on to explain that they are out to "Build the best product, cause no unnecessary harm, and use business to protect nature."

Their mission statement is compelling and detailed, with each section outlining how they will accomplish their goal.

4. Vesta Home Automation

This executive summary for a smart home device startup is part of a business plan created by students at Mount Royal University .

While it lacks some of the sleek visuals of the templates above, its executive summary does a great job of demonstrating how invested they are in the business.

Right away, they mention they’ve invested $200,000 into the company already, which shows investors they have skin in the game and aren’t just looking for someone else to foot the bill.

This is the kind of business plan you need when applying for business funds. It clearly illustrates the expected future of the company and how the business has been coming along over the years.

5. NALB Creative Center

This fictional business plan for an art supply store includes everything one might need in a business plan: an executive summary, a company summary, a list of services, a market analysis summary, and more.

One of its most notable sections is its market analysis summary, which includes an overview of the population growth in the business’ target geographical area, as well as a breakdown of the types of potential customers they expect to welcome at the store. 

This sort of granular insight is essential for understanding and communicating your business’s growth potential. Plus, it lays a strong foundation for creating relevant and useful buyer personas .

It’s essential to keep this information up-to-date as your market and target buyer changes. For that reason, you should carry out market research as often as possible to ensure that you’re targeting the correct audience and sharing accurate information with your investors.

Due to its comprehensiveness, it’s an excellent example to follow if you’re opening a brick-and-mortar store and need to get external funding to start your business .

6. Curriculum Companion Suites (CSS)

If you’re looking for a SaaS business plan example, look no further than this business plan for a fictional educational software company called Curriculum Companion Suites. 

Like the business plan for the NALB Creative Center, it includes plenty of information for prospective investors and other key stakeholders in the business.

One of the most notable features of this business plan is the executive summary, which includes an overview of the product, market, and mission.

The first two are essential for software companies because the product offering is so often at the forefront of the company’s strategy. Without that information being immediately available to investors and executives, then you risk writing an unfocused business plan.

It’s essential to front-load your company’s mission if it explains your "Why?" and this example does just that. In other words, why do you do what you do, and why should stakeholders care? This is an important section to include if you feel that your mission will drive interest in the business and its offerings.

7. Culina Sample Business Plan

Culina's sample business plan is an excellent example of how to lay out your business plan so that it flows naturally, engages readers, and provides the critical information investors and stakeholders need. 

You can use this template as a guide while you're gathering important information for your own business plan. You'll have a better understanding of the data and research you need to do since Culina’s plan outlines these details so flawlessly for inspiration.

8. Plum Sample Business Plan

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How to Write a Business Plan (Plus Examples & Templates)

May 24, 2021

Have you ever wondered how to write a business plan step by step? Mike Andes, told us: 

This guide will help you write a business plan to impress investors.

Throughout this process, we’ll get information from Mike Andes, who started Augusta Lawn Care Services when he was 12 and turned it into a franchise with over 90 locations. He has gone on to help others learn how to write business plans and start businesses.  He knows a thing or two about writing  business plans!

We’ll start by discussing the definition of a business plan. Then we’ll discuss how to come up with the idea, how to do the market research, and then the important elements in the business plan format. Keep reading to start your journey!

What Is a Business Plan?

A business plan is simply a road map of what you are trying to achieve with your business and how you will go about achieving it. It should cover all elements of your business including: 

• Finding customers
• Plans for developing a team
•  Competition
• Legal structures
• Key milestones you are pursuing

If you aren’t quite ready to create a business plan, consider starting by reading our business startup guide .

Get a Business Idea

Before you can write a business plan, you have to have a business idea. You may see a problem that needs to be solved and have an idea how to solve it, or you might start by evaluating your interests and skills. 

Mike told us, “The three things I suggest asking yourself when thinking about starting a business are:

• What am I good at?
• What would I enjoy doing?
• What can I get paid for?”

If all three of these questions don’t lead to at least one common answer, it will probably be a much harder road to success. Either there is not much market for it, you won’t be good at it, or you won’t enjoy doing it. 

As Mike told us, “There’s enough stress starting and running a business that if you don’t like it or aren’t good at it, it’s hard to succeed.”

If you’d like to hear more about Mike’s approach to starting a business, check out our YouTube video

Conduct Market Analysis

Market analysis is focused on establishing if there is a target market for your products and services, how large the target market is, and identifying the demographics of people or businesses that would be interested in the product or service. The goal here is to establish how much money your business concept can make.

Product and Service Demand

A search engine is your best friend when trying to figure out if there is demand for your products and services. Personally, I love using presearch.org because it lets you directly search on a ton of different platforms including Google, Youtube, Twitter, and more. Check out the screenshot for the full list of search options.

With quick web searches, you can find out how many competitors you have, look through their reviews, and see if there are common complaints about the competitors. Bad reviews are a great place to find opportunities to offer better products or services. 

If there are no similar products or services, you may have stumbled upon something new, or there may just be no demand for it. To find out, go talk to your most honest friend about the idea and see what they think. If they tell you it’s dumb or stare at you vacantly, there’s probably no market for it.

You can also conduct a survey through social media to get public opinion on your idea. Using Facebook Business Manager , you could get a feel for who would be interested in your product or service.

 I ran a quick test of how many people between 18-65  you could reach in the U.S. during a week. It returned an estimated 700-2,000 for the total number of leads, which is enough to do a fairly accurate statistical analysis.

Identify Demographics of Target Market

Depending on what type of business you want to run, your target market will be different. The narrower the demographic, the fewer potential customers you’ll have. If you did a survey, you’ll be able to use that data to help define your target audience. Some considerations you’ll want to consider are:

• Other Interests
• Marital Status
• Do they have kids?

Once you have this information, it can help you narrow down your options for location and help define your marketing further. One resource that Mike recommended using is the Census Bureau’s Quick Facts Map . He told us,  

“It helps you quickly evaluate what the best areas are for your business to be located.”

How to Write a Business Plan

Now that you’ve developed your idea a little and established there is a market for it, you can begin writing a business plan. Getting started is easier with the business plan template we created for you to download. I strongly recommend using it as it is updated to make it easier to create an action plan. 

Each of the following should be a section of your business plan:

• Business Plan Cover Page
• Table of Contents
• Executive Summary
• Company Description
• Description of Products and Services

SWOT Analysis

• Competitor Data
• Competitive Analysis
• Marketing Expenses Strategy 

Pricing Strategy

• Distribution Channel Assessment
• Operational Plan
• Management and Organizational Strategy
• Financial Statements and/or Financial Projections

We’ll look into each of these. Don’t forget to download our free business plan template (mentioned just above) so you can follow along as we go. 

How to Write a Business Plan Step 1. Create a Cover Page

The first thing investors will see is the cover page for your business plan. Make sure it looks professional. A great cover page shows that you think about first impressions.

A good business plan should have the following elements on a cover page:

• Professionally designed logo
• Company name
• Mission or Vision Statement
• Contact Info

Basically, think of a cover page for your business plan like a giant business card. It is meant to capture people’s attention but be quickly processed.

How to Write a Business Plan Step 2. Create a Table of Contents

Most people are busy enough that they don’t have a lot of time. Providing a table of contents makes it easy for them to find the pages of your plan that are meaningful to them.

A table of contents will be immediately after the cover page, but you can include it after the executive summary. Including the table of contents immediately after the executive summary will help investors know what section of your business plan they want to review more thoroughly.

Check out Canva’s article about creating a  table of contents . It has a ton of great information about creating easy access to each section of your business plan. Just remember that you’ll want to use different strategies for digital and hard copy business plans.

How to Write a Business Plan Step 3. Write an Executive Summary

An executive summary is where your business plan should catch the readers interest.  It doesn’t need to be long, but should be quick and easy to read.

Mike told us,

How long should an executive summary bein an informal business plan?

For casual use, an executive summary should be similar to an elevator pitch, no more than 150-160 words, just enough to get them interested and wanting more. Indeed has a great article on elevator pitches .  This can also be used for the content of emails to get readers’ attention.

It consists of three basic parts:

• An introduction to you and your business.
• What your business is about.
• A call to action

Example of an informal executive summary 

One of the best elevator pitches I’ve used is:

So far that pitch has achieved a 100% success rate in getting partnerships for the business.

What should I include in an executive summary for investors?

Investors are going to need a more detailed executive summary if you want to secure financing or sell equity. The executive summary should be a brief overview of your entire business plan and include:

• Introduction of yourself and company.
• An origin story (Recognition of a problem and how you came to solution)
• An introduction to your products or services.
• Your unique value proposition. Make sure to include intellectual property.
• Where you are in the business life cycle
• Request and why you need it.

Successful business plan examples

The owner of Urbanity told us he spent 2 months writing a 75-page business plan and received a $250,000 loan from the bank when he was 23. Make your business plan as detailed as possible when looking for financing. We’ve provided a template to help you prepare the portions of a business plan that banks expect.

Here’s the interview with the owner of Urbanity:

When to write an executive summary?

Even though the summary is near the beginning of a business plan, you should write it after you complete the rest of a business plan. You can’t talk about revenue, profits, and expected expenditures if you haven’t done the market research and created a financial plan.

What mistakes do people make when writing an executive summary?

Business owners commonly go into too much detail about the following items in an executive summary:

• Marketing and sales processes
• Financial statements
• Organizational structure
• Market analysis

These are things that people will want to know later, but they don’t hook the reader. They won’t spark interest in your small business, but they’ll close the deal.

How to Write a Business Plan Step 4. Company Description

Every business plan should include a company description. A great business plan will include the following elements while describing the company:

• Mission statement
• Philosophy and vision
• Company goals

Target market

• Legal structure

Let’s take a look at what each section includes in a good business plan.

Mission Statement

A mission statement is a brief explanation of why you started the company and what the company’s main focus is. It should be no more than one or two sentences. Check out HubSpot’s article 27 Inspiring Mission Statement for a great read on informative and inspiring mission and vision statements. 

Company Philosophy and Vision

The company philosophy is what drives your company. You’ll normally hear them called core values.  These are the building blocks that make your company different. You want to communicate your values to customers, business owners, and investors as often as possible to build a company culture, but make sure to back them up.

What makes your company different?

Each company is different. Your new business should rise above the standard company lines of honesty, integrity, fun, innovation, and community when communicating your business values. The standard answers are corporate jargon and lack authenticity. 

Examples of core values

One of my clients decided to add a core values page to their website. As a tech company they emphasized the values:

•  Prioritize communication.
•  Never stop learning.
•  Be transparent.
•  Start small and grow incrementally.

These values communicate how the owner and the rest of the company operate. They also show a value proposition and competitive advantage because they specifically focus on delivering business value from the start. These values also genuinely show what the company is about and customers recognize the sincerity. Indeed has a great blog about how to identify your core values .

What is a vision statement?

A vision statement communicate the long lasting change a business pursues. The vision helps investors and customers understand what your company is trying to accomplish. The vision statement goes beyond a mission statement to provide something meaningful to the community, customer’s lives, or even the world.

Example vision statements

The Alzheimer’s Association is a great example of a vision statement:

A world without Alzheimer’s Disease and other dementia.

It clearly tells how they want to change the world. A world without Alzheimers might be unachievable, but that means they always have room for improvement.

Business Goals

You have to measure success against goals for a business plan to be meaningful. A business plan helps guide a company similar to how your GPS provides a road map to your favorite travel destination. A goal to make as much money as possible is not inspirational and sounds greedy.

Sure, business owners want to increase their profits and improve customer service, but they need to present an overview of what they consider success. The goals should help everyone prioritize their work.

How far in advance should a business plan?

Business planning should be done at least one year in advance, but many banks and investors prefer three to five year business plans. Longer plans show investors that the management team  understands the market and knows the business is operating in a constantly shifting market. In addition, a plan helps businesses to adjust to changes because they have already considered how to handle them.

Example of great business goals

My all time-favorite long-term company goals are included in Tesla’s Master Plan, Part Deux . These goals were written in 2016 and drive the company’s decisions through 2026. They are the reason that investors are so forgiving when Elon Musk continually fails to meet his quarterly and annual goals.

If the progress aligns with the business plan investors are likely to continue to believe in the company. Just make sure the goals are reasonable or you’ll be discredited (unless you’re Elon Musk).

You did target market research before creating a business plan. Now it’s time to add it to the plan so others understand what your ideal customer looks like. As a new business owner, you may not be considered an expert in your field yet, so document everything. Make sure the references you use are from respectable sources. 

Use information from the specific lender when you are applying for lending. Most lenders provide industry research reports and using their data can strengthen the position of your business plan.

A small business plan should include a section on the external environment. Understanding the industry is crucial because we don’t plan a business in a vacuum. Make sure to research the industry trends, competitors, and forecasts. I personally prefer IBIS World for my business research. Make sure to answer questions like:

• What is the industry outlook long-term and short-term?
• How will your business take advantage of projected industry changes and trends?
• What might happen to your competitors and how will your business successfully compete?

Industry resources

Some helpful resources to help you establish more about your industry are:

• Trade Associations
• Federal Reserve
• Bureau of Labor Statistics

Legal Structure

There are five basic types of legal structures that most people will utilize:

• Sole proprietorships
• Limited Liability Companies (LLC)

Partnerships

Corporations.

• Franchises.

Each business structure has their pros and cons. An LLC is the most common legal structure due to its protection of personal assets and ease of setting up. Make sure to specify how ownership is divided and what roles each owner plays when you have more than one business owner.

You’ll have to decide which structure is best for you, but we’ve gathered information on each to make it easier.

Sole Proprietorship

A sole proprietorship is the easiest legal structure to set up but doesn’t protect the owner’s personal assets from legal issues. That means if something goes wrong, you could lose both your company and your home.

To start a sole proprietorship, fill out a special tax form called a  Schedule C . Sole proprietors can also join the American Independent Business Alliance .

Limited Liability Company (LLC)

An LLC is the most common business structure used in the United States because an LLC protects the owner’s personal assets. It’s similar to partnerships and corporations, but can be a single-member LLC in most states. An LLC requires a document called an operating agreement.

Each state has different requirements. Here’s a link to find your state’s requirements . Delaware and Nevada are common states to file an LLC because they are really business-friendly. Here’s a blog on the top 10 states to get an LLC.

Partnerships are typically for legal firms. If you choose to use a partnership choose a Limited Liability Partnership. Alternatively, you can just use an LLC.

Corporations are typically for massive organizations. Corporations have taxes on both corporate and income tax so unless you plan on selling stock, you are better off considering an LLC with S-Corp status . Investopedia has good information corporations here .

There are several opportunities to purchase successful franchises. TopFranchise.com has a list of companies in a variety of industries that offer franchise opportunities. This makes it where an entrepreneur can benefit from the reputation of an established business that has already worked out many of the kinks of starting from scratch.

How to Write a Business Plan Step 5. Products and Services

This section of the business plan should focus on what you sell, how you source it, and how you sell it. You should include:

• Unique features that differentiate your business products from competitors
• Intellectual property
• Your supply chain
• Cost and pricing structure 

Questions to answer about your products and services

Mike gave us a list  of the most important questions to answer about your product and services:

• How will you be selling the product? (in person, ecommerce, wholesale, direct to consumer)?
• How do you let them know they need a product?
• How do you communicate the message?
• How will you do transactions?
• How much will you be selling it for?
• How many do you think you’ll sell and why?

Make sure to use the worksheet on our business plan template .

How to Write a Business Plan Step 6. Sales and Marketing Plan

The marketing and sales plan is focused on the strategy to bring awareness to your company and guides how you will get the product to the consumer.  It should contain the following sections:

SWOT Analysis stands for strengths, weaknesses, opportunities, and threats. Not only do you want to identify them, but you also want to document how the business plans to deal with them.

Business owners need to do a thorough job documenting how their service or product stacks up against the competition.

If proper research isn’t done, investors will be able to tell that the owner hasn’t researched the competition and is less likely to believe that the team can protect its service from threats by the more well-established competition. This is one of the most common parts of a presentation that trips up business owners presenting on Shark Tank .

SWOT Examples

Examples of strengths and weaknesses could be things like the lack of cash flow, intellectual property ownership, high costs of suppliers, and customers’ expectations on shipping times.

Opportunities could be ways to capitalize on your strengths or improve your weaknesses, but may also be gaps in the industry. This includes:

• Adding offerings that fit with your current small business
• Increase sales to current customers
• Reducing costs through bulk ordering
• Finding ways to reduce inventory
•  And other areas you can improve

Threats will normally come from outside of the company but could also be things like losing a key member of the team. Threats normally come from competition, regulations, taxes, and unforeseen events.

The management team should use the SWOT analysis to guide other areas of business planning, but it absolutely has to be done before a business owner starts marketing. 

Include Competitor Data in Your Business Plan

When you plan a business, taking into consideration the strengths and weaknesses of the competition is key to navigating the field. Providing an overview of your competition and where they are headed shows that you are invested in understanding the industry.

For smaller businesses, you’ll want to search both the company and the owners names to see what they are working on. For publicly held corporations, you can find their quarterly and annual reports on the SEC website .

What another business plans to do can impact your business. Make sure to include things that might make it attractive for bigger companies to outsource to a small business.

Marketing Strategy

The marketing and sales part of business plans should be focused on how you are going to make potential customers aware of your business and then sell to them.

If you haven’t already included it, Mike recommends:

“They’ll want to know about Demographics, ages, and wealth of your target market.”

Make sure to include the Total addressable market .  The term refers to the value if you captured 100% of the market.

Advertising Strategy

You’ll explain what formats of advertising you’ll be using. Some possibilities are:

• Online: Facebook and Google are the big names to work with here.
• Print : Print can be used to reach broad groups or targeted markets. Check out this for tips .
• Radio : iHeartMedia is one of the best ways to advertise on the radio
• Cable television : High priced, hard to measure ROI, but here’s an explanation of the process
• Billboards: Attracting customers with billboards can be beneficial in high traffic areas.

You’ll want to define how you’ll be using each including frequency, duration, and cost. If you have the materials already created, including pictures or links to the marketing to show creative assets.

Mike told us “Most businesses are marketing digitally now due to Covid, but that’s not always the right answer.”

Make sure the marketing strategy will help team members or external marketing agencies stay within the brand guidelines .

This section of a business plan should be focused on pricing. There are a ton of pricing strategies that may work for different business plans. Which one will work for you depends on what kind of a business you run.

Some common pricing strategies are:

• Value-based pricing – Commonly used with home buying and selling or other products that are status symbols.
• Skimming pricing – Commonly seen in video game consoles, price starts off high to recoup expenses quickly, then reduces over time.
• Competition-based pricing – Pricing based on competitors’ pricing is commonly seen at gas stations.
• Freemium services –  Commonly used for software, where there is a free plan, then purchase options for more functionality.

HubSpot has a great calculator and blog on pricing strategies.

Beyond explaining what strategy your business plans to use, you should include references for how you came to this pricing strategy and how it will impact your cash flow.

Distribution Plan

This part of a business plan is focused on how the product or service is going to go through the supply chain. These may include multiple divisions or multiple companies. Make sure to include any parts of the workflow that are automated so investors can see where cost savings are expected and when.

Supply Chain Examples

For instance, lawn care companies  would need to cover aspects such as:

• Suppliers for lawn care equipment and tools
• Any chemicals or treatments needed
• Repair parts for sprinkler systems
• Vehicles to transport equipment and employees
• Insurance to protect the company vehicles and people.

Examples of Supply Chains

These are fairly flat supply chains compared to something like a clothing designer where the clothes would go through multiple vendors. A clothing company might have the following supply chain:

• Raw materials
• Shipping of raw materials
• Converting of raw materials to thread
• Shipping thread to produce garments
• Garment producer
• Shipping to company
• Company storage
• Shipping to retail stores

There have been advances such as print on demand that eliminate many of these steps. If you are designing completely custom clothing, all of this would need to be planned to keep from having business disruptions.

The main thing to include in the business plan is the list of suppliers, the path the supply chain follows, the time from order to the customer’s home, and the costs associated with each step of the process.

According to BizPlanReview , a business plan without this information is likely to get rejected because they have failed to research the key elements necessary to make sales to the customer.

How to Write a Business Plan Step 7. Company Organization and Operational Plan

This part of the business plan is focused on how the business model will function while serving customers.  The business plan should provide an overview of  how the team will manage the following aspects:

Quality Control

• Legal environment

Let’s look at each for some insight.

Production has already been discussed in previous sections so I won’t go into it much. When writing a business plan for investors, try to avoid repetition as it creates a more simple business plan.

If the organizational plan will be used by the team as an overview of how to perform the best services for the customer, then redundancy makes more sense as it communicates what is important to the business.

Quality control policies help to keep the team focused on how to verify that the company adheres to the business plan and meets or exceeds customer expectations.

Quality control can be anything from a standard that says “all labels on shirts can be no more than 1/16″ off center” to a defined checklist of steps that should be performed and filled out for every customer.

There are a variety of organizations that help define quality control including:

• International Organization for Standardization – Quality standards for energy, technology, food, production environments, and cybersecurity
• AICPA – Standard defined for accounting.
• The Joint Commission – Healthcare
• ASHRAE – HVAC best practices

You can find lists of the organizations that contribute most to the government regulation of industries on Open Secrets . Research what the leaders in your field are doing. Follow their example and implement it in your quality control plan.

For location, you should use information from the market research to establish where the location will be. Make sure to include the following in the location documentation.

• The size of your location
• The type of building (retail, industrial, commercial, etc.)
• Zoning restrictions – Urban Wire has a good map on how zoning works in each state
• Accessibility – Does it meet ADA requirements?
• Costs including rent, maintenance, utilities, insurance and any buildout or remodeling costs
• Utilities – b.e.f. has a good energy calculator .

Legal Environment

The legal requirement section is focused on defining how to meet the legal requirements for your industry. A good business plan should include all of the following:

• Any licenses and/or permits that are needed and whether you’ve obtained them
• Any trademarks, copyrights, or patents that you have or are in the process of applying for
• The insurance coverage your business requires and how much it costs
• Any environmental, health, or workplace regulations affecting your business
• Any special regulations affecting your industry
• Bonding requirements, if applicable

Your local SBA office can help you establish requirements in your area. I strongly recommend using them. They are a great resource.

Your business plan should include a plan for company organization and hiring. While you may be the only person with the company right now, down the road you’ll need more people. Make sure to consider and document the answers to the following questions:

• What is the current leadership structure and what will it look like in the future?
• What types of employees will you have? Are there any licensing or educational requirements?
• How many employees will you need?
• Will you ever hire freelancers or independent contractors?
• What is each position’s job description?
• What is the pay structure (hourly, salaried, base plus commission, etc.)?
• How do you plan to find qualified employees and contractors?

One of the most crucial parts of a business plan is the organizational chart. This simply shows the positions the company will need, who is in charge of them and the relationship of each of them. It will look similar to this:

Our small business plan template has a much more in-depth organizational chart you can edit to include when you include the organizational chart in your business plan.

How to Write a Business Plan Step 8. Financial Statements 

No business plan is complete without financial statements or financial projections. The business plan format will be different based on whether you are writing a business plan to expand a business or a startup business plan. Let’s dig deeper into each.

Provide All Financial Income from an Existing Business

An existing business should use their past financial documents including the income statement, balance sheet, and cash flow statement to find trends to estimate the next 3-5 years.

You can create easy trendlines in excel to predict future revenue, profit and loss, cash flow, and other changes in year-over-year performance. This will show your expected performance assuming business continues as normal.

If you are seeking an investment, then the business is probably not going to continue as normal. Depending on the financial plan and the purpose of getting financing, adjustments may be needed to the following:

• Higher Revenue if expanding business
• Lower Cost of Goods Sold if purchasing inventory with bulk discounts
• Adding interest if utilizing financing (not equity deal)
• Changes in expenses
• Addition of financing information to the cash flow statement
• Changes in Earnings per Share on the balance sheet

Financial modeling is a challenging subject, but there are plenty of low-cost courses on the subject. If you need help planning your business financial documentation take some time to watch some of them.

Make it a point to document how you calculated all the changes to the income statement, balance sheet, and cash flow statement in your business plan so that key team members or investors can verify your research.

Financial Projections For A Startup Business Plan

Unlike an existing business, a startup doesn’t have previous success to model its future performance. In this scenario, you need to focus on how to make a business plan realistic through the use of industry research and averages.

Mike gave the following advice in his interview:

Financial Forecasting Mistakes

One of the things a lot of inexperienced people use is the argument, “If I get one percent of the market, it is worth $100 million.” If you use this, investors are likely to file the document under bad business plan examples.

Let’s use custom t-shirts as an example.

Credence Research estimated in 2018 there were 11,334,800,000 custom t-shirts sold for a total of $206.12 Billion, with a 6% compound annual growth rate.

With that data,  you can calculate that the industry will grow to $270 Billion in 2023 and that the average shirt sold creates $18.18 in revenue.

Combine that with an IBIS World estimate of 11,094 custom screen printers and that means even if you become an average seller, you’ll get .009% of the market.

Here’s a table for easier viewing of that information.

The point here is to make sure your business proposal examples make sense.

You’ll need to know industry averages such as cost of customer acquisition, revenue per customer, the average cost of goods sold, and admin costs to be able to create accurate estimates.

Our simple business plan templates walk you through most of these processes. If you follow them you’ll have a good idea of how to write a business proposal.

How to Write a Business Plan Step 9. Business Plan Example of Funding Requests

What is a business plan without a plan on how to obtain funding?

The Small Business Administration has an example for a pizza restaurant that theoretically needed nearly $20k to make it through their first month.

In our video, How to Start a $500K/Year T-Shirt Business (Pt. 1 ), Sanford Booth told us he needed about $200,000 to start his franchise and broke even after 4 months.

Freshbooks estimates it takes on average 2-3 years for a business to be profitable, which means the fictitious pizza company from the SBA could need up to $330k to make it through that time and still pay their bills for their home and pizza shop.

Not every business needs that much to start, but realistically it’s a good idea to assume that you need a fairly large cushion.

Ways to get funding for a small business

There are a variety of ways to cover this. the most common are:

• Bootstrapping – Using your savings without external funding.
• Taking out debt – loans, credit cards
• Equity, Seed Funding – Ownership of a percentage of the company in exchange for current funds
• Crowdsourcing – Promising a good for funding to create the product

Keep reading for more tips on how to write a business plan.

How funding will be used

When asking for business financing make sure to include:

• How much to get started?
• What is the minimum viable product and how soon can you make money?
• How will the money be spent?

Mike emphasized two aspects that should be included in every plan, 

How to Write a Business Plan Resources

Here are some links to a business plan sample and business plan outline. 

• Sample plan

It’s also helpful to follow some of the leading influencers in the business plan writing community. Here’s a list:

• Wise Plans –  Shares a lot of information on starting businesses and is a business plan writing company.
• Optimus Business Plans –  Another business plan writing company.
• Venture Capital – A venture capital thread that can help give you ideas.

How to Write a Business Plan: What’s Next?

We hope this guide about how to write a simple business plan step by step has been helpful. We’ve covered:

• The definition of a business plan
• Coming up with a business idea
• Performing market research
• The critical components of a business plan
• An example business plan

In addition, we provided you with a simple business plan template to assist you in the process of writing your startup business plan. The startup business plan template also includes a business model template that will be the key to your success.

Don’t forget to check out the rest of our business hub .

Have you written a business plan before? How did it impact your ability to achieve your goals?

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How to Start a Clothing Brand (and Make 7 Figures a Year)

Have you ever wondered how to start a clothing brand? Starting a clothing line business only requires a little investment and some technical skills. You can start a clothing business and make a great living. We’ll show you how.

[su_note note_color="#dbeafc"] Read our guide from start to finish or click any of the links below to jump straight to the section you need to know about right now.

Case Study: Portland Gear

Learn design skills, create a clothing brand business plan, pay attention to fashion trends, create a brand identity, market your brand, source materials, curate a small clothing line, package & distribute your collection, promote your collection, sell your clothing brand, keep growing your clothing business.

• Go Start Your Own Clothing Brand [/su_note]

Marcus Harvey turned his love for Portland, Oregon, into a hometown clothing brand called Portland Gear . He started screen printing in college to make some extra money but stopped to take on his first job.

On Thanksgiving of 2014, he designed two shirts, posted them on Instagram, and sold $5K worth on the first day. Six years later, Portland Gear is making over $100K a month.

Marcus took the time to explain how to start a clothing brand. He gave us a ton of great advice about how to start your own clothing brand that we’ll include while providing a step-by-step guide to start a clothing brand.

How to Start a Clothing Brand

Starting a clothing brand is part art and part business. You’ll want to follow this 11-step process to start a clothing line.

• Learn design skills.
• Create a clothing brand business plan.
• Pay attention to fashion trends.
• Create a brand identity.
• Market your brand.
• Source materials.
• Develop your collection.
• Package and distribute your collection.
• Promote your collection.
• Sell your clothing brand.
• Keep growing your clothing brand.

Get ready to learn how to make your own clothing brand.

You don’t have to attend school to succeed in the fashion business. You can learn almost everything you need to about fashion brands online. While you can start a clothing brand without a formal education, many people find they benefit from the structured learning environment that comes with enrolling in some official courses.

Attending live in-person courses comes with access to networking opportunities, insights from an experienced fashion designer, and specialized resources and tools.

Educational institutions around the country and the world provide fashion design and small business programs that teach their students how to start successful clothing lines. Renowned schools like Parsons in New York and Central Saint Martins in the UK are globally recognized for their exceptional fashion education.

For those with more determination than resources or time, there are online courses from successful clothing line professionals including Marc Jacobs’ MasterClass and Maker’s Row Academy .

You can even use Udemy for accessible and flexible learning opportunities.

A clothing brand business owner may need skills in the following:

• Production and printing

Let’s dig deeper into each of these to see how they impact a clothing brand.

Clothing Design Skills

Every fashion brand needs a designer. This is the person who takes the idea and makes it a reality.

A fashion designer will typically include several steps in the design process. The steps to design your own clothing brand include:

• Draw design using paper or digital software, like Tailornova .
• Have a pattern maker cut the patterns for the design.
• Build a prototype.
• Make alterations.
• Create a tech pack (design specifications you give to a clothing manufacturer).
• Source the materials and begin manufacturing.

This process is called product development and is used consistently in the fashion business. Managing product development is one of the keys to a successful clothing company. Without a controlled design and development process, a company may fail or tarnish its brand identity.

I’m not going to go into all the details of each as these are highly technical fields, but there are a ton of great resources on how to design clothes. Here are some useful resources to consider:

• Best fashion design schools
• Free online design classes
• Best fashion design software
• Best print-on-demand companies

Pro Tip: I have a client who is in the process of starting their own clothing brand and have personally used Printful to help clients meet their print-on-demand needs. Their software helps you with all steps involved in creating clothing designs, making it easier to start building your fashion brand company and selling your designs to potential customers through an online store.

The next skill you need to develop is familiarity with the technology aspect of the industry. Paying a developer to help start your eCommerce store can be expensive. I’ve seen people spend $25K and not get what they want. It’s important to understand the technology aspect before you start.

Technology that will need to be used includes:

• An eCommerce platform (Find Investopedia’s review of the best ones here .)
• Payment processors
• Editing software
• Marketing software

Decisions around what tech you’ll use are crucial when trying to figure out how to start a clothing brand because the costs are much lower to run an eCommerce store with production from a print-on-demand company that handles the printing and shipping of the items you design than sourcing our own designs from a manufacturer.

Most tech companies offer free or low-cost tutorials on how to use their software. Make sure to use them. They were built to help you make the most of their offerings.

Production and Printing Skills

Your clothing business will need production, which can be done through a manufacturing partner, or you can print your own t-shirts and other apparel products. If you are going to take on the production, you’ll need to learn how to use the different types of machines.

Some techniques you might need to learn include:

• Screen printing
• Direct to garment
• Transfer printing
• Cad cut vinyl

The best way to learn these techniques is hands-on, which means purchasing your own machines or finding a manufacturing partner who will teach you. I’d like to remind you that drop-shipping companies reduce much of this workload. Once you’ve built the business up, learning to do it can save you some money, but production costs quickly increase the upfront costs to start a clothing brand.

Business Skills

Business skills encompass a wide range of essential tasks including accounting, pricing, shipping, and managing inventory. To educate yourself on all of these would require a lifetime of learning. We’ve provided a list of useful resources for leveling up your fashion business skills.

• Accounting: Udemy , EDX
• Pricing: Coursera , Udemy
• Shipping: Shopify , BigCommerce
• Inventory Management: TradeGecko , Unleashed

Pro Tip: You can also use YouTube videos to learn almost anything these days.

Starting a clothing brand has many of the same considerations as any new small business, including establishing how much money you’ll need, when to get financing, and planning for legal, financial, marketing, production, and distribution of the clothing—all of which we recommend including in your business plan.

Marcus told us,

[su_quote] We started by setting up at Portland events in our old Volkswagen van and expanded from there. [/su_quote]

Meanwhile, the owner of Urbanity started his successful clothing boutique by writing a 100-page business plan and getting a small business loan at 22.

Fashion Brand Business Models

The most important consideration when you start a clothing brand is how you’ll produce your clothes brand. These are the main ways that designer brands produce their clothing:

• Hand-produced clothing: You can create your entire clothing line by hand. This is usually something that designers will do when they are designing prototypes or one-off pieces. It’s time-consuming and only suitable for extremely small batches, but great for creating the first piece of custom-tailored clothing.
• Bulk manufacturing: Bulk manufacturing is a necessity if you are selling your clothing in major retailers. Minimum order quantities apply for bulk orders. The equipment is costly, so you’ll likely work with a manufacturing partner. This is one of the least costly per item but highest upfront cost business models for clothing production.
• Print-on-demand: You can avoid handmaking many products and having to manage inventory with print-on-demand. You won’t get as good of deals as you will with bulk manufacturing (and may have less design control and fewer options), but you’ll be able to produce more pieces than you would by handmaking products. Production doesn’t start until the product is ordered.
• Dropshipping: With dropshipping , you don’t have to worry about managing inventory or printing. You simply list the item on your website and when someone places an order, it is sent directly from the manufacturer to the customer.

Now that you know different clothing brand business models, let’s discuss how much creating a clothing brand costs.

How Much Does It Cost to Start a Clothing Brand?

Once you’ve come up with some ideas, clothing brand costs need to be estimated. Most clothing line owners self-fund, but that may be impractical if you are manufacturing in bulk. You’ll probably want a couple thousand dollars to start a clothing brand. Still, minimum order quantities from some businesses can mean buying $30K+ in inventory, which will dramatically increase your costs.

If you’re wondering how to start your own brand of clothing, you need to pay attention to trends in the fashion industry. At the same time, you have to maintain a consistent brand identity.

Understanding the seasonal and annual trends in clothing design will help you stay relevant. Depending on the time it takes to create a line, manufacture it, and promote it, you may need to think one to three seasons ahead to stay on track with seasonal changes. There are tools to help you predict trends , too.

Alternatively, you can try to find evergreen designs that people are always buying, like plaid, which can be traced back to as far as the eighth century B.C.

Next, we’ll discuss how to create a clothing brand identity.

Making a clothing brand is more than a logo and your name. It’s about something bigger than a collection of clothing items. It’s about your values, how you’ll make lives better, your standards, your lifestyle, the colors, fonts, and fabrics you use, and more.

Once you’ve defined what makes your clothing brand unique, create a brand guide that will help you make decisions as you launch and grow the brand.

Pro Tip: Need some inspiration as you make clothing brand decisions? Check out our handpicked boutique name ideas for 2024 .

Clothing Brand Name Ideas

Your business name is often the first thing your target market will see. It will communicate what the brand is all about and you’ll use it to make your logo, too. There are a ton of ways to name a clothing business. Some fashion designers use names that:

• Pay Homage to the Founder: Think Ralph Lauren or Louis Vuitton.
• Describe Clothing Items: CryptoLids creates hats for crypto and web3 communities.
• Show a Passion: Portland Gear celebrates the culture of Portland in its fashion line.

Your business name should be one that makes it easy to convey your brand story. Unless you’re already an established brand, you’ll want every advantage you can get when communicating with your target audience.

Try out our clothing brand name generator to find inspiration . Once you find a clothing brand name you like, just click on it to find out if the domain name is available. Learn more about naming a clothing brand .

Financial Management

A crucial portion of successfully starting a fashion business is managing its financial aspects. Marcus emphasized the benefits of starting small:

[su_quote] You get quantity discounts the more of the same item you buy, so it’s better to start small than have 100 different products. [/su_quote]

He typically aims for a 65% margin on the apparel.

You may need some extra funds to start your clothing brand. To find banks that work with small businesses, use this resource .

Let’s look at some tricks you can use to help your clothing brand become profitable.

Get a Business Bank Account

Almost every bank offers business checking and savings accounts. Which one will work best for you depends on how you do business.

If all business is by card and you don’t need a branch nearby, online banks typically pay better interest, but going with the big players like Chase or Wells Fargo means you get a ton of support. Here are some of the most highly recommended business banking accounts:

• Chase Business Complete Banking – Great new account bonuses.
• U.S. Bank Silver Banking Checking – Excellent for use with eCommerce and PayPal transactions because you can send weekly deposits to avoid some of their fees.
• Axos Interest Checking – My personal favorite! Offers higher interest payments for lower balances. I love that they hook up the little guy!
• Wells Fargo – I was with Wells Fargo for the better part of 15 years, but when I had some problems a few years back, it caused me a real headache because the nearest branch was two hours away and I couldn’t handle it by phone. Despite that, they normally have great customer service and seem to have gotten past all that.

Pro Tip: Investopedia gives a more thorough review of each of these accounts. Ultimately, the interest offered by online banks tends to be significant and the absence of a bank building won’t be a problem unless you need to deposit cash.

Payment Processors

The last time I took the time to review payment processors, they all seem to be basically the same unless you are doing hundreds of thousands of transactions. That being said, there are some new players on the market due to the changes in the financial markets brought on by cryptocurrency. The primary players in this field are:

• PayPal – We all know the company and use it frequently, but if you’ve never used it for business, be careful. They show a ton of love for customers, but not as much toward businesses. When I started my first business, they thought we were making money too quickly and placed a 30-day hold on withdrawals. It was a pain. Once I got past that, it’s all good. They offer third-party financing, too.
• Square and Cashapp – Square has a ton of useful features and is constantly expanding its ecosystem. It’s a reasonable competitor to PayPal. I recommend you consider offering both.
• Authorize.Net – Visa-owned payment gateway. If you go through a bank for your payment processor, this is typically who they use. The banks tend to charge a higher fee than going directly to them.
• Crypto.Com – Lower fees than traditional processors, but still hasn’t perfected the UI or UX experience. If you work with a bunch of cryptocurrency holders, you might want to have it available. I’ve personally added my own on my site. This may be the future of tech, but it’s still in its infancy.

Budget, Budget, Budget!

A budget is the most important tool you can use in business. Without it, your clothing brand might not make it through the first few years.

Marcus encourages you to “know your margins, reinvest in your business, and grow responsibly.”

Consider Your Many Funding Options

Starting a clothing brand doesn’t cost a fortune. The initial investment in owning a clothing brand can be less than $1,000.

Marcus suggests beginners use:

• A print-on-demand company
• A social media marketing budget of less than $500 a month

Common funding paths include:

• Personal funds
• Loans from family or friends
• Business partner(s)
• Government programs

The Small Business Administration (SBA) offers free courses on funding programs . For info on using personal funds to start a business, check out this article from The Hartford.

Alternative sources of funding include:

• Crowdfunding
• Credit cards
• Home equity loans
• Rollover for business startups (ROBS)

Click on the link to find a list of the best offerings in each group.

Develop a Pricing Structure

How you price your clothing brand will impact how people view it. If your prices are too high, they’ll go elsewhere. Too low, and you’ll lose money. Based on the rules of thumb presented by Marcus in his interview,

[su_quote] Use a 65% markup, or half that if wholesale. T-shirts are typically $28, hats $35, and hoodies just under $70. [/su_quote]

Pricing Communicates Value

Shops will often sell their products or services for a lower price to bring in new customers. Be careful doing this. If you sell your clothing for a discount and they tell others, you might have to sell more clothing for the same price. People love a good deal! Just make sure it is sustainable for your clothing brand, or the “expiration date” is clear.

Marcus told us, [su_quote] You can go buy bargain basement t-shirts for $10, but I’m selling a brand, not clothing. I feel like $25 is really where people have to think about buying a t-shirt. If they have to think about buying it, they are more likely to wear it. [/su_quote]

Increase Prices Every Year

Inflation occurs every year. To keep your business running, raise your prices 5% per year. It gives you room to increase wages and to make some extra money. Makes sense, right?

Sales Taxes

All but five states and some cities (or counties) require sales tax. You can find a guide on applying for sales tax on TaxJar . After you register to pay sales taxes, you will need to keep track of the sales to pay them according to state laws.

Pro Tip: I highly recommend speaking with an accountant who specializes in taxes to help you comply with your business’s unique needs.

You’ll need some insurance depending on what kind of a business you are running. For example, you’ll need unemployment insurance and workers compensation if you have employees.

You may also want a general liability policy and cybersecurity insurance to protect against unforeseen events that could cause your clothing brand business substantial losses.

• Unemployment Insurance: Unemployment insurance (UI) protects employees from entirely losing income when they lose their jobs. It is paid for on both the federal and state level. The federal unemployment insurance is driven by a 6% tax on the first $7,000 of each employee’s income, a total of $420 per year per employee. Your state taxes can reduce the federal portion down to $42 per year per employee, but each state has different requirements. You can find a full list of agencies that deal with UI on nolo.com .
• Workers Compensation: Workers compensation is for when people are injured on the job. There are both federal and state requirements, which you can review on this Department of Labor webpage . The policies protect against excessive costs when an employee is injured through acceptable business practices.
• General Liability Policy: A general liability policy is not required, but it is highly advised if people other than employees will be at your physical location. It protects against lawsuits and other occurrences that may occur. Contact an insurance agent to get a quote.
• Cybersecurity Insurance: Cybersecurity insurance will protect your clothing brand against online store hacks. Given the average data breach is millions of dollars, this is highly recommended if participating in any kind of eCommerce.

You’re ready to start a clothing brand. You have clothes to sell, but no clients! How are you going to let people know about your clothing items?

Marketing is crucial for clothing businesses.

From a marketing standpoint, Marcus uses several strategies that he would suggest.

• Only sell what you love. Owning a business is hard work. If you don’t believe in it, it will wear you out.
• Be active within your community. Do popup shops where your target market is.
• Keep your advertising budget low—typically less than $500 a month.
• Have certain dates when you have sales and be prepared for them.
• Invest in photography!

Marketing is about going where your target audience is to help them become aware of your clothing brand and turning awareness into purchasing. Marketing can be done both online and through other channels.

You’ll need to be familiar with the largest three places where you can reach your clothing brand’s customers:

• Facebook and Instagram

Each of these has a ton of resources to educate people on how to reach your target market with their products for businesses. Make sure to familiarize yourself with them; otherwise, you’ll be operating in the dark and wasting a lot of money.

Pro Tip: Portland Gear only spends about $500 a month on advertising because they already had a built-in following from their Portland Instagram page. They also use a super cool 1973 VW Westfalia to do pop-up shops around Portland, which we’ll discuss in a bit...

When you start a clothing company, how you source materials for your fashion brand will create different challenges based on the business model you choose.

With a print-on-demand model, you’ll be constrained by the materials and manufacturing capabilities of each of the providers. Meanwhile, with handmade clothing and limited runs, you probably want to focus on ordering materials from online stores located in the U.S. or local craft shops where you can see and feel the materials before you buy them.

When your business model involves creating larger batches, it gets far more complicated because the materials have shipping costs that are incurred when they are shipped to the clothing manufacturer facility, then the manufactured product has to be shipped to you (or your clients). Every time you have shipping during the manufacturing process, there is a potential for the business model to experience additional costs in the form of tariffs and mileage charges.

True Story: I knew a clothing business owner who ordered a single roll of fabric from China as an expedited order. The shipping ended up costing almost 20 times the fabric cost and guaranteed that the batch he was designing would be a loss. It was a tough mistake to make, especially before the company made any revenue. Sign up for our UpFlip Mentorship program to get advice and avoid costly mistakes.

Starting a clothing brand is a lot of work.

I reached out to the friend of mine who owns Cryptolids.com , which has helped 26 web3 companies launch their clothing business this year. He told us:

[su_quote] I spend about 40 to 60 hours on a full store build including all front end and back end creation as well as mocking up merch for up to 50 t-shirts, hats, and other products. [/su_quote]

He does this every day, so he is super fast at designing a t-shirt or hat design and adding it to an online store. My takeaway: Expect to spend at least two to three hours per product until you get used to all the design work for your own clothing brand.

Custom designs that don’t use standardized t-shirts and hats could take even longer. Project Runway contestants, for example, normally spend one to two days creating each piece on the reality TV show, while a discussion about fashion industry design times reflects varying inputs and revealed that:

[su_quote] This whole process takes about 4 months. 4 weeks for research and sourcing. 4 weeks for cutting and toiles. 8 weeks for finalising, material creation, accessories et cetera [/su_quote]

Once you’ve created your own clothing line, you’ll need to decide how to package each clothing item. Like designing clothes, private label packaging contributes to how your clothing brand idea will be received.

If you’re selling in an online store, you might want a box that showcases your brand and offers coupons to encourage customer loyalty, while a retail store in the clothing industry might want paper or plastic bags. Make sure to use recycled materials if you’re trying to be eco-friendly. On the other hand, wholesale clothing suppliers might go for a plain box with a packing slip inside.

There are a number of ways to promote your collection when starting a clothing brand.

Consignment

Create an online store.

• Retail Locations

We’ll discuss how each of these can help you turn your clothing company into a successful fashion brand.

Many retailers allow a new business to sell their products in their retail store if you offer consignment. Unfortunately, consignment means you have to provide your clothing line to the retailer and only get paid when they sell the item.

When you start a clothing brand, consignment makes it easier to get your entire clothing line into a store. This business model can be really beneficial in the fashion world because of the risk-free nature to the retailer.

When you wholesale your clothing brand, retailers will buy your clothing designs in bulk. Retailers normally won’t want to do this when you start a clothing brand because it’s more costly. Start with consignment and work your way up to wholesaling.

Pro Tip: When you’re approaching a store, make a point to be respectful of their time. A good sales strategy for clothing brands is to provide a card or catalog and ask to schedule a meeting in the future to give the business owner or manager time to review what you do and prepare for a conversation.

Your clothing business needs to be capable of working as an online business idea before you launch your own online store. Your business plan should also include information about handling shipping and fulfillment. You’ll need to consider aspects like online customer service, the impact on your production model or clothing manufacturer, and your packaging.

As long as you know how your clothing line will handle these things, your existing clothing brand can use your website as online marketing and a way to sell your products directly to customers. That means you’ll be able to get the full retail price for your clothing brand without having to share the profits with other retailers or eCommerce platforms like Amazon, Etsy, or eBay.

There are plenty of web builders that you can explore if you’re wondering how to start a clothing brand online. When you are choosing which ones to use you’ll want to consider which web templates work best for your style of ecommerce and which will convey your brand messaging best. Learn how to build a website here .

Pro Tip: I personally prefer Shopify . You can start with a free clothing brand template like Boundless . You might also want an app that makes it easier for people to understand how your clothing line fits. You can use other online marketplaces directly from Shopify, too, which can magnify your clothing brand results.

Important Website Pages

Some of the most important web pages for the fashion industry include your home page, collections, product pages, about page, contact page, and FAQ. Make sure to use your brand guide when creating these pages to keep your website in line with your clothing line branding.

Great Photos

A clothing line benefits tremendously from great pictures. Have you ever seen a picture of a product and then when you receive it, the color is completely different? Your target customers probably won’t be happy, which means they might return the product. They might even tell potential customers not to buy from you. 

Finding a professional photographer who captures true-to-color lifestyle images with clothing brand models can really convey a brand image better than using stock photos or cell phone pictures. It may seem costly, but it can pay off over the long run.

Every business model struggles to market its services until it cracks the code of what works for them, but some strategies work if you take the time to get good at them. Some of the marketing strategies you should consider for your clothing brand include:

• Content marketing: Sharing photos, optimized video, and blog posts helps drive traffic to your brand.
• Email marketing: Start building an email list as soon as you start working on your clothing business. You can share updates about working on the collection to help people get excited about the clothing line and do giveaways to incentivize emails.
• Lend clothing: Beauty businesses use clothes during photo shoots and will pin your clothing brand when they share the pics if they use your clothes.
• Influencer marketing: Working with TikTok, YouTube, and Instagram influencers can help get your clothing line in front of lots of people.
• Loyalty program: Reward loyal customers and encourage them to refer potential customers.
• Collaborations: Find other brands with similar values to collaborate with for crossbranding opportunities.
• Search engine optimization (SEO): Optimize your high-performing website pages with SEO to increase traffic to your fashion brand store.
• Social media advertising: Use paid ads, promoted posts, and organic content.

Clothing brands can be sold through a variety of sales channels. Some of the most common for a new business include:

• Online marketplaces
• Your own retail store
• Other retailers
• Popup shops
• Partner brands

Online Marketplaces

Selling clothes can be done through various sites. The top places to list your clothing brand include:

• Facebook Marketplace

Pro Tip: Shopify connects to most of these sales channels easily, which makes it so clothing companies can sell their wear on multiple sites at once. Make sure to look at the percentage of sales that each one takes to make sure you set the retail price of your clothing line to cover any commissions that they collect.

Your Own Retail Store

Creating clothing brand stores is a great way to make your brand more accessible, but it is expensive. You should probably assume you’ll need at least $100,000 to open a clothing store, and there are a lot of considerations.

[su_quote] One of the things we’ve done to keep the symmetry of the business is we keep the warehouse, office, and store real close together so everyone can be on the same page. [/su_quote]

Marcus discussed his experiences with opening his first shop in the interview about how to make a clothing brand below.

To find spaces to rent in your area, contact a local commercial real estate agent. You can search for them by your area here .

Other Retail Stores

As we discussed earlier, there are a few ways to get your fashion brand into other clothing stores, including consignment and wholesaling. Consignment pays when the clothing is sold, while wholesaling pays before the clothing is sold or on a Net-30, net-60 or Net-90 schedule.

Popup Shops

Popup shops are fun marketing tools to meet your customers where they gather. These are great for brand identity because they help associate the business with another place people already like.

Common places where popup shops are allowed include:

• Music festivals
• Flea markets
• Sporting events
• Coffee shops

You’ll have to talk to the owner or manager of the location you have your eye on to get their permission and sort out details, but most are normally agreeable if you meet their conditions. Your municipality may also have laws governing pop-up shops.

With popup shops, spaces are typically limited to no more than 10’x10’ or 20’x20’, and the location will normally want to be able to see what your setup will look like beforehand.

Pro Tip: This SBA guide on business laws is a good reference that you can skim now and dig into as sales opportunities unfold.

Partner Brands

Providing your clothing line to partner brands is a great strategy. You can make it even more meaningful by offering combined deals where the customer gets a discount if they buy from both brands together. This can be done both in-store and online.

As you achieve milestones in your business plan, you’ll want to look for new ways to grow your own brand and provide valuable services for your target audience. You might open another store, take control of the manufacturing process from your existing clothing manufacturer, wholesale clothing, or provide consulting services to other prospective designers.

There are so many ways how to make your own brand of clothing successful. Read on to learn more about common strategies.

Keep Inventory

Carrying inventory is both a blessing and a curse for a fashion startup. You’ll have to pay more to create clothing brand inventory, but the per-unit pricing usually is less than using print-on-demand. That means when you sell your private label products to customers at a higher price point, your cost of goods sold leaves you with more gross profit.

A strictly online store can get away with using print-on-demand or dropshipping, but fashion brands will need at least some materials and clothing items when they sell in person. That means you’ll need product displays, registers, and mannequins.

Marcus started Portland Gear with just two designs and 1,000 shirts, which made it easy to sell out the first day.

Startingaclothingbrand.com offers a list of manufacturers by location and type of clothing. It’s a great place to start when looking for clothing manufacturers.

Take Over From the Manufacturing Facility

You can get used printing machines and product displays at huge discounts if you buy them used. You can find printers and product displays through most on-brand markets, pawnshops, going-out-of-business sales, and other places. Consider buying an existing business with the printers included in the purchase price.

Pro Tip: Learn more about valuing an existing business in our guide to buying businesses .

Taking over manufacturing may cost more upfront, but a business model in which you produce your existing or new clothing brand yourself can increase your margins and mean a successful business that’s that much more in your control. 

Hire Employees

Marcus emphasized the importance of hiring the right people when starting a clothing brand.

[su_quote] You need to hire people that fit the brand story. [/su_quote]

A clothing store that’s open to the public might need employees. Depending on your financial position when starting, you can work all the hours yourself or hire right away.

Even if you run a completely online clothing store, you might scale to a point where you need help with fulfilling orders, marketing efforts, sales strategy, and managing social media accounts so you can go from making your new business work to really taking on the fashion world.

Go Start Your Own Clothing Brand

Now that you know how to start a brand of clothing, take the next step. Start your own!

The truth is, all it takes is a great idea, some skills in design, and a good marketing strategy to get started. As Marcus told us:

[su_quote] If you like it, there are other people who will like it. You just have to find them. [/su_quote]

Have you started a clothing brand online, consigned your designs, or opened a retail shop? Or do you know someone who has? We’d love to hear about your brand in the comments below!

How to Start a $75K/Month Car Detailing Business (2024)

• Car detailing business skills
• Mobile detailing services
• Car detailing business plans
• Cleaning business names
• Business structure and other legal requirements
• Cleaning business finances
• Safety during business operations
• Equipment for mobile detailing businesses
• Mobile car detailer marketing
• Employee management structure
• Processing documentation

Step 1. Learn more about the car detailing business

• Car detailing industry
• Detailing technical skills
• Soft skills

Learn about the mobile detailing industry

How much do car detailers make, how much does a car detailing business owner make, how much does it cost to start detailing business operations.

Skills for a mobile car detailing business 

• Air compressor operation
• Car washing and drying by hand
• Leather conditioning
• Pressure washing
• Upholstery cleaning
• Wet and dry vacuuming

Auto detailing certification

International detailing association (ida).

• Certified Detailer (Phase 1) : 10 tests you can take online that cost $400 for nonmembers (NM) or $200 when you buy a $110 per year membership .
• Skills Validated Detailer (Phase 2) : Same pricing as Phase 1 but requires four mobile detailing skills tests.
• Recognized Independent Trainer : Requires active membership, Phase 2 certification, three years of training experience, references, and an outline of the training to be considered.
• Marine Certification : If you want to be a mobile detailer who works on boats, you'll have to take the Phase 1 exam, then take the $400 NM or $200 member five-part certification exam.

Detail King

• A Pennsylvania accredited technical school for detailers.
• A supply house for everything mobile auto detailing related (You’ll get discounts on cleaning business startup kits and supplies.)
• Paint restoration trainers, which means you’ll have a chance to expand revenue streams.
• Ceramic coating trainers, which helps mobile detailing businesses offer a service that starts at $1,000, and improves resale value by documenting it on Carfax. Ceramics protect against scratches, small dings, and corrosion.
• Offering licenses which are the equivalent of a franchise without the franchise fees.

Not-so-technical skills

• being personable
• learning names
• sharing detailing tricks with customers
• communication
• trustworthiness

Here's the formula

• Learn technical skills.
• Pay close attention while detailing cars.
• Nurture those soft skills.

Step 2. What type of detailing business is right for you?

• at-home car detailing
• commercial fleet inventories, such as a car dealership
• recreational vehicles (RVs)
• shop, garage, or car wash-based operation

Stationary or mobile?

Two types of stationary detailing shops.

How to start a car detail business with high volume

• convenience
• fast service
• high volume (of course)
• more workers with fewer skills
• A mix of automation, self-serve, and manual service

Starting detailing business: Boutique

• high prices
• services for high-end vehicles
• small, well-trained staff
• specialized services, including ceramic coatings
• Become an auto mechanic
• Start a food truck

How to start mobile detailing business

The competitive advantage of a mobile car wash business

Step 3. write a car detailing business plan.

• auto detailing insurance
• competitive analysis of car detailing in my area
• detailing supplies
• financial projections
• ideal physical location
• licenses and permits
• marketing plan
• strategies to make money

Step 4. Choose a name

• Add your details: You want people to know what you do, but don't constrain yourself too much. GoDetail and Attention 2 Detail both state what they do, but Attention 2 Detail can be expanded to any niche.
• Easy and clear: Potential customers may be put off by a name they struggle to spell or pronounce. Keep it simple.
• Location: Consider including your location to attract customers in your area and establish yourself within the local region.
• Branding: Ask yourself if you can easily incorporate your name into branding elements, such as logos and graphics. For inspiration, read the histories behind famous car logos .

Set up a dot com

Lock it all in, step 5. how to start a car detailing business, business structure & car detailing license.

• S-Corporation : Best for high earning companies that want to lower business owner taxes. Limited number of stockholders, provides personal liability protection, requires business owners to receive salary (and optional dividends), no double taxation.
• C-Corporation : Best for companies trying to change the world. Unlimited stockholders, provides personal liability protection, high compliance costs, and double taxation. Business owners can earn money through multiple income streams with different tax codes.
• Limited Liability Company : Best for companies that want to separate business entities from personal assets. Provides limited liability, pass-through income, and no double taxation.
• Sole Proprietorship : Best to just get started. Doesn't provide liability protection or create a separate business entity, and is considered personal income. Don't use a sole proprietorship if you hire employees.

Open a business bank account

Get business insurance

• General liability insurance
• Property damage insurance
• Workers compensation insurance
• Cyber Security Insurance (You have people's credit cards, names, and addresses.)

Step 6. Set up your car detailing business finances

• angel investor
• business partner(s)
• credit cards
• crowdfunding
• government programs
• home equity loan
• friends or family
• personal finance through savings or wages
• rollover for business startups ( ROBS )

Pricing structure

Revenue and profit, step 7. establish safety protocols.

Know your stuff

Environmental concerns, step 8. get equipment and supplies, common supplies.

Software for Mobile Detailing

Don't buff out the importance of a polisher, water reclamation.

• Absorber (Notto's favorite towel) $20 for two
• All-purpose cleaner $7
• Buffer $120
• Hoses and nozzles $75 to $100
• Leather cleaner and shoe brush $15
• Pressure washer $159 (You don't need this if you're using ONR)
• Shop-Vac $100
• Small tools, such as grout brushes $13
• Business cards $30

Mobile detailing business

Step 9. Hire employees

• enthusiastic
• safety-conscious
• team player

Step 10. Develop a sales and marketing strategy

• Print materials
• Business cards

Market Research: Identify your customer

Digital marketing.

Search engine optimization (SEO)

• featured snippets
• Google Business Profile
• optimization of your site for speed

Digital business card

Social media.

Email newsletter

Digital advertising, printed materials, direct contact, polished appearance.

Get reviews to feed the crews

Step 11. document business processes.

• Set a goal for your process mapping session.
• Include all roles involved in the workflow.
• Identify the issue you hope to solve with the map.
• List all activities.
• Determine the triggers, inputs, and outputs.
• Flow out the steps and decisions because you can't always depend on the “ideal” path.
• Make the final draft, get all roles to agree, and sign off on the process map.

Create a successful car detailing business

• What do I need to research?
• Am I capable of providing a great experience through top-level customer service?

Best Client Management Software (2024)

You know you need a great client management system to keep track of customer data and ensure you build sustainable customer relationships. But which one is best?

Many small business owners optimize their operations for their own benefit and forget to prioritize their customers' needs, which can result in frustration and lost revenue. The point of your business is to solve customers’ problems while making money, and in the digital age, the right CMS is essential.

[su_note note_color="#dbeafc"]

In this article, we compare the best client management software to help you choose which option is right for your sales process. Click on the links below to jump straight to a section.

What is client management?

Client management systems: key features, #1. housecall pro (author’s pick), #2. jobber (recommended by most videos), #3. clickup (upflip blog and youtube crm), #4. freeagent (most features in entry-level plan), #5. hubspot crm, #6. honeybook, #8. monday.com, #9. zendesk sell, #10. pipedrive, #11. zoho crm, #13. activecampaign, #14. lucrativ, #15. airtable, #16. insightly, #17. salesforce, #18. freshworks crm (formerly freshsales), #19. netsuite, #20. nutshell, #21. capsule.

• Welcome to a better sales process [/su_note]

Client management fosters relationships between a business and its customers by keeping detailed records of customer interactions and customer engagement. Customer management includes:

• Customer lifecycle planning
• Set expectations
• Build trust
• Define boundaries
• Evaluate customer satisfaction

The ultimate goal of client management is for your small business to delight its customers. Achieving this goal will lead to increased retention rates and referrals.

Keep reading to learn about customer management systems.

What is a client management system?

A client management system can also be called a customer relationship management (CRM) system. These specialized software applications monitor and manage individual relationships between small businesses and their customers.

Sales, marketing, and support teams frequently rely on data within the client management system (CMS) to initiate and cultivate customer connections, fostering loyalty and transforming potential and existing customers into devoted clients.

CRMs are comprehensive systems capable of generating valuable information that can benefit every department in your small business. A CRM should have specific features to track and measure customer interactions with your company.

A CRM should track and help make better decisions by providing your staff with information about support requests, email responses, and previous purchases. This data helps predict customer needs, cross-sell, and personalize the entire sales process.

Key features of an effective CRM include:

• Activity tracking: Collect customer data to gain insights about how often clients request support, make purchases, or return items. This helps you predict potential issues and prevent them.
• Data and analytics: Monitor metrics for each customer, including their engagement frequency with your communications. When compared to the rest of your customer data, these metrics will show who are ideal clients and who costs your company money.
• Automated workflows: Automating workflows simplifies the client management process. Workflow automation is crucial to nurturing customer relationships. Marketing automation can be used to respond to leads, send outreach, and schedule meetings without consuming your sales team’s time.
• Communication system: Utilize templates and automated messaging to communicate with customers via email, calls, texts, or direct social media messages.

Next, we’ll discuss the best client management tools to manage customer relationships.

Best client management software

The best client management software will be different for every company. Small businesses will need to consider which features are most important to them. We have ranked the following customer relationship management tools to help you find the right client management software for you.

• Housecall Pro
• HubSpot CRM
• Zendesk Sell
• ActiveCampaign
• Freshworks CRM (formerly Freshsales)

Get ready to start choosing client management software.

I personally rate Housecall Pro as the best client management software today. It’s one of the more comprehensive business management software solutions with a starting price of $69 monthly. You get almost all of what you need to run most businesses when you invest in the $169 per month plan.

In addition to client management tools, you also get third-party financing, payment processing, online booking, GPS and time tracking, and more. When it comes to managing your business, you can’t go wrong with Housecall Pro.

Price: $19+

Jobber is similar to Housecall Pro but has a lower-cost entry point. It’s also not as intuitive. If you want to spend less than $169, Jobber has three plans to fit your client management software budget. Note that only the Connect and Grow plans allow more than one user without paying extra.

Price: Free+

We use ClickUp at UpFlip. This client management software is highly productive but can be somewhat complex for new users.

With ClickUp’s robust and customizable features, you have access to more than 15 distinct ways to visualize sales and client orders, including list, calendar, table, and Kanban-like board views for all data types.

Additionally, ClickUp’s Dashboards offer real-time reporting, allowing you to gain high-level insights into your customer’s lifetime values, ensuring you never miss a sale.

ClickUp’s integration with over 1,000 other work tools, including email, facilitates fast and streamlined customer outreach.

Onboard clients, update tasks, and send messages, all from a centralized work hub.

With ClickUp’s Free Forever plan, you can build your customer database and access many functional features. For even more advanced tools, you can easily upgrade for as little as $5.

The next client management software solution sounds awesome for people who want client management software that works well with social media platforms.

Price: $45+

FreeAgent brands itself as a next-gen CRM with some of the most offerings in its lowest-level plan. You’ll get:

• AI-guided tasks • Reporting • Sales tracking • A whole lot more!

For $90 per user, you get additional features like meeting scheduling and SMS marketing tools that suggest it might be worth the cost to upgrade.

FreeFlow, an AI-guided productivity tool offered by FreeAgent, helps reps increase their productivity by suggesting which tasks to perform first. This reduces admin work. Companies have seen over 200% gains in productivity using this tool.

The AI tool automatically organizes and logs calls, emails, and meetings. Plus, suggesting priorities helps reps with building customer relationships and driving more revenue.

HubSpot CRM platform is the best client management tool on the market, but it’s complex and costly. While it is fairly complicated to get started, the CRM tool is one of the best when it comes to educating people on sales and marketing.

It features a free CRM that integrates with email to simplify client tracking. It also has hubs for the following categories:

1. Marketing 2. Sales 3. Customer service 4. Content management 5. Operations 6. Plus 50 free tools

HubSpot CRM supports unlimited users and data and up to a million contacts. That means HubSpot CRM will grow with your business. The two aspects I like most about this client management tool are the learning academy and the ability to upgrade as you grow.

This software is best if you are running marketing campaigns with a sales funnel. For two people to engage in the sales and marketing efforts is $50. Each additional person is $25-$50 depending on what they need to access in the CRM system.

We use Hubspot to manage our courses and I personally suggest every business owner take their free digital marketing certifications.

HoneyBook client management software lets you manage invoices, contracts, payments, and client communications. HoneyBook works best for entrepreneurs and small business owners who work on short-term projects.

The customer journey is simple and will delight your clients from the moment they interact with the client management software till you complete the project.

Start by sending branded proposals to potential clients and streamline the booking process with the user-friendly scheduling tool. Then close the deal with the contract and digital signature.

Use HoneyBook automation for customer communications as you complete milestones in the project. Spend more time working on the job and less time keeping customers updated.

With pricing from $19 to $79, the only thing this client management tool is missing is the employee side of managing your business. (That’s not technically part of client tracking software, but it’s important to you!)

Price: $24+

Some client management software goes beyond relying on a client management software system. The Nimble Prospector browser extension collects lead data from social media.

Capture a prospective lead’s contact information by hovering over a LinkedIn or Instagram profile, and Nimble gathers the potential customer data, cutting data entry time in half.

Additionally, Nimble offers seamless integration with over 160 apps, including X (formerly Twitter), Facebook, and LinkedIn, allowing your team to consolidate client contact data from familiar platforms with ease.

Nimble’s calendar, activities tracker, and pipeline manager empower your team to make the most of every opportunity to engage with prospects and existing clients.

monday.com was originally a team management solution, connecting employees with workflow automation. Over time, its application expanded, and it now has offerings for most industries to track, organize, and manage production and performance.

When you sign up for monday.com, you can choose from templates for your industry and needs. For sales teams, three templates are particularly useful: sales CRM, partner management, and sales assets.

The sales CRM template is a highly valuable tool for sales teams because it efficiently manages leads, customer relationships, sales pipelines, and tasks in a single platform.

monday.com’s lead management helps you create customized forms directly on monday.com and embed them on your website. Submissions from the forms go directly to your monday.com board, allowing the tool to save all contact data and activity, including calls, emails, and meetings.

The sales CRM template also offers a Kanban view, which is commonly used for managing software projects efficiently. This view provides a quick overview of the number of prospects and their respective stages, enabling you to monitor progress effortlessly.

The sales CRM template effectively organizes deadlines, helping you stay on top of tasks that need completion each day and propelling you closer to closing deals.

Pro Tip: Check out our monday.com review for more information about this popular customer relationship management system.

Price: $25+

ZenDesk Sell is effectively a support desk that has been modified to include sales teams. This makes it easier to manage client relationships.

Like many other client management software options, ZenDesk only offers workflow automation in its highest-level plan. Personally, I wish more client relationship management software offered automation at all price points because it improves the client data and workflows of those in the earliest stages of starting a business.

Price: $21.90+

Pipedrive CRM software uses features such as pipeline management, chatbots, web forms, and AI sales assistance.

The AI-powered sales team assist tool makes this CRM system stand out. It provides personalized tips and automation recommendations to your sales team.

The AI sales mentor identifies potential risks based on past performance and suggests new strategies for improving results. This enables your reps to enhance their skills without extensive training and consulting.

Furthermore, the AI sales mentor employs advanced algorithms to assess your actions and identify areas where you can automate your sales cycle, streamlining your sales processes for increased sales team efficiency.

Zoho CRM offers sales automation, predictive sales, sales management, and multichannel communication.

One of the standout capabilities of Zoho CRM is its robust multichannel communication feature. This empowers sales representatives to connect with customers across various platforms and channels, ensuring effective and convenient communication.

For instance, reps can reach out to prospects through channels such as telephone, email, live chat, social media, and web forms. Moreover, the multichannel tool enables reps to analyze the effectiveness of their communication efforts, identifying the best time and channel to engage with prospects.

Zoho CRM integrates with numerous business applications, including Google Suite, Ring Central, WhatsApp, Eventbrite, Quickbooks, Proposify, LinkedIn Sales Navigator, MailChimp, Facebook, Slack, Dropbox, and SalesIQ. These integrations enable smooth communication with prospects via email, phone, social media, and live chat.

They also have a unique client relationship management software called Bigin . Bigin starts as a free client management software for solopreneurs, and its annual pricing is no more than many other options’ monthly fees.

Drip is an eCommerce client management app. You’ll appreciate features like:

• Contact management • Email marketing • Multichannel touchpoints • Personalization

The best feature is Drip’s advanced segmentation tool, which allows you to add tags and labels to any contact. You can even personalize and customize your own tags. For example, you can add an inactive customer tag to people who haven’t interacted with your site recently.

Additionally, you can use tags to filter prospects who have purchased a product before, track the amount of money they’ve spent, and see if they’ve been active on your site in the last month. These prospect tracking features provide customer insights into what your prospects are looking for, opening, clicking on, and buying.

Ultimately, this customer tracking software can help you personalize messages to your prospects.

ActiveCampaign offers businesses a suite of email, automation, and CRM solutions tailored to streamline client relationship management. Within its CRM platform, users get features like contact management, lead scoring, marketing and sales automation, win probability, sales reporting, segmentation, and win probability.

The standout capability of this client management app lies in its lead scoring tool, a valuable means of monitoring which prospective customers your client service management efforts should focus on.

This feature of the client relationship management software answers questions like:

• Did a potential customer visit your pricing page? • Has the customer opened an email? • Was a form submitted? • Has the customer scheduled a meeting?

Lead scoring tracks these engagements, allowing you to identify the clients who are most invested in finding a provider.

The tool also assigns lead scores to deals and individual contacts. Monitoring a prospect’s lead score helps you focus on the customers most likely to convert.

Finally, lead scores can be used as a trigger to start a new sales funnel with special offers and other information to close the deal and go to the next step in the buyer’s journey. This powerful feature significantly boosts efficiency and drives better outcomes for your sales and marketing efforts.

Price: Contact Lucrativ

Lucrativ is a customer management system that focuses on real estate. Features include:

• AI-powered sales assistant • Automation • Gamification • Insights • Multichannel engagement • Pipeline management

The gamification feature uses friendly competition to increase sales.

The customizable competition can include goals like prospects found, demos shown, and deals closed. The client system even has a leaderboard to track rep performance and display real-time ratings to motivate your entire sales team.

The gaming aspect of this client-getting software will motivate teams that manage multiple projects. Unlike many CRM platforms, this account management software doesn’t disclose pricing, which I normally read as: “Get ready for a high-pressure pitch and shady pricing schemes.”

Airtable starts as a free client management software that will support up to 5 users. It’s similar to monday.com, but spreadsheet users may appreciate how it strikes a balance between a spreadsheet and a database. Like monday.com, Airtable offers industry-specific tables designed for sales teams, including sales CRM, sales pipeline, and sales assets.

The sales CRM template provides a single location for real-time access to manage your contacts. In addition, each sales representative can personalize their view to remove distractions in the client-getting system. This flexibility makes Airtable one of the best account management software solutions available.

The calendar view makes it easy to review past meetings, follow up, and prepare for upcoming appointments. Meanwhile, the Kanban view displays the status of the software client for reps.

The Airtable sales CRM effectively organizes your team and simplifies closing deals.

Price: $29+

Insightly focuses on marketing automation, sales CRM, integrations, and service desks. The CRM software has features like lead routing, relationship linking, and workflow automation.

Lead routing and relationship linking help sales reps follow up on hot leads faster. You can have the leads automatically go to an available sales rep based on activities like emails, interacting with a marketing campaign, or receiving a phone call.

Larger organizations may find the relationship-linking tool helpful for mapping complex customer relationships. When customers communicate with multiple people in the organization, the buyer’s journey is easier to analyze with Insightly than most other apps for client management. Get a better view of the entire sales pipeline.

This popular client management software is an industry leader in the CRM market. It is complex to use, though. As far as CRM software goes, I would discourage anyone from using it unless they go through the Trailhead training . Depending on what type of business you run, you may be able to market yourself as a provider afterward.

Features like contact management, email integration, lead management, opportunity management, and sales forecasting make this some of the best client management software for small and medium-sized businesses (SMBs) that are approaching major corporation status.

Salesforce sales forecasting software provides a real-time view of the forecast of all your sales reps. You can set permissions for management to make in-line forecast adjustments or override information based on the management hierarchy.

For example, you can see the entire pipeline for your business, organized by sales rep, so you see who your top performers are. By tracking and forecasting your sales, you can set realistic goals and solve problems before they impact your revenue. Ultimately, tools like sales forecasting help management make decisions.

Price: $12+

Freshworks CRM offers service department, marketing, chatbot, and sales client management software with features like:

• AI-powered insights • Built-in phone and email • Lead scoring • Pipeline management

You can buy local and toll-free numbers directly through the Freshworks CRM then assign them to reps to contact potential clients without integrating with other systems.

Plus, all communication is automatically logged because the interactions happen directly in the Freshworks CRM. Eliminate manual data entry forever.

Price: Contact NetSuite

NetSuite offers a CRM for everything from accounting client management software to compliance, human resources, and inventory. If you’re planning a startup business that you expect will make millions or billions, you might want to go with the SuiteSuccess Starter Edition .

Features include:

• Commissions • Order management • Quote delivery • Sales automation • Sales forecasting

Quote delivery and order management are the most impressive features. You’ll be able to streamline the lead-to-cash process directly in the CRM. Get ready for higher sales and better productivity.

Nutshell CRM provides a comprehensive range of tools, including contact management, pipeline management, sales automation, reporting, and email tools. Among these features, the pipeline management tool stands out for its flexibility and efficiency.

Nutshell offers various pipeline management views to cater to your sales reps’ preferences and workflows.

The Board View allows reps to easily drag and drop leads to different sales stages and mark them as won, lost, or canceled. This view provides a quick and comprehensive overview of the pipeline’s health.

Next, List View offers a more traditional approach, displaying leads in rows and allowing sorting based on stage, value, and opportunity. This helps reps analyze upcoming tasks and prioritize their attention accordingly.

For sales reps working with territories, map view is especially useful as it shows the exact location of prospects. This assists reps in planning meetings and activities efficiently.

Finally, the chart view provides valuable insights into lead trends by displaying data on the time frame, quantity, and value of open leads.

Price: $18+

Capsule CRM offers contact management, a sales pipeline, and task management.

Capsule stands out for its customization features, including custom fields for business records, custom tags, custom sales milestones, and customized contact lists based on the selected filters.

These features can be used to include information about partner programs, like who brought the partner on and the date of introduction. This can make it easier to identify high-performing employees and seek ways to duplicate their results.

Welcome to a better sales process

Another noteworthy client management system is Microsoft Dynamics 365 , but it is not small business-friendly given its minimum investment of $1,500 .

Whatever client management software you choose, make sure to consider the features and the costs. While some charge per use, others charge the same amount for up to 15 users.

You’ll also want to consider the costs of additional software you need to manage your whole business. That’s why we ranked jobs like Housecall Pro, Jobber, and FreeAgent so high.

What CRMs have you used? What did you like or dislike about each?

nice work https://binarychemist.com/

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Ten 5-Year Plan Examples (For Inspiration)

A 5-year plan is a strategic outline that sets forth objectives, strategies, and actionable steps intended to be implemented over a five-year period. Its purpose is to achieve long-term goals, and is used by a wide range of people and organizations – from governments to businesses to individuals and couples.

Your plan should provide a clear roadmap and framework for achieving long-term objectives by breaking them down into actionable steps and milestones.

Begin crafting your 5-year plan by setting clear, specific, and measurable goals, then break them down into yearly, monthly, or even weekly actionable steps, ensuring each action aligns with the ultimate objectives and adjust as needed for flexibility and responsiveness to change.

How to Create a 5 Year Plan: Rules to Follow

Creating a 5-year plan involves a structured approach to identifying long-term goals and breaking them down into manageable, strategic steps. Here’s a generalized guide:

1. Define Clear Objectives Start by crystalizing your long-term aspirations and aims into defined objectives, ensuring that each goal adheres to the SMART criteria – being Specific, Measurable, Achievable, Relevant, and Time-bound. This foundational step provides a clear vision and purpose for your 5-year plan, acting as a guiding light throughout its duration.

2. Develop Actionable Steps Translate your long-term objectives into actionable steps, subdividing them across a logical timeline with distinct targets set for each year. This dissection of your overarching goals into smaller, tangible steps makes the goals seem more achievable and manageable and will help you to assess your progress along the way. You should have short-term goals that you can get started on immediately, which may be stepping stones along the way.

3. Implement and Monitor Embark on the journey by starting with the immediate or short-term actions that you set out in the previous steps. An ongoing monitoring process is important to ensure you are on track. Monitor on a regular basis (weekly, monthly, or quarterly) and make adjustments whenever needed to keep yourself on track.

4. Seek Feedback and Improve Continuously Actively seek feedback from mentors, peers, and professionals in your field, utilizing their insights to refine your strategies. Cultivate a mindset of continuous learning and be ready to adjust your path based on the knowledge and skills you acquire along the way. Maintain a growth mindset and stay adaptable to changes and new opportunities that may arise. Ensuring consistency in your actions and staying persistently focused on your objectives will build momentum towards your goals.

5. Celebrate Milestones Regularly acknowledge and celebrate achieved milestones, as this not only provides a motivational boost but also ensures that you’re recognizing and valuing your progress. One of the big upsides of having milestones in your 5-year plan is that you can measure progress by watching milestones tumble as you progress. Celebrate it!

Remember, periodic evaluations of your plan’s effectiveness are crucial. It’s vital to stay willing to modify your goals and strategies based on the insights gained during the implementation phase and any evolving external circumstances.

5 Year Plan Examples

1. recent highschool graduate.

Goal: “Within 5 years, I will achieve an entry-level job in my career of choice. To get there, I will need to excel at university and graduate with a strong resume.”

• Year 1: Enroll in higher education, secure part-time work or an internship, and join related clubs for networking.
• Year 2: Focus on specialized courses, gain practical experience through internships, and attend industry events.
• Year 3: Assume leadership in campus organizations, initiate career-related projects, and enhance your professional portfolio.
• Year 4: Complete degree, gain advanced experience via internships, and start a comprehensive job search in the desired field.
• Year 5: Secure entry-level position, seek continuous learning opportunities, and explore potential career advancement pathways.

2. Teaching College Student

Goal: “My 5 year goal is to be an employed educator in my preferred subject of teaching. This requires me to graduate with a quality education degree, gain valuable teaching experiences, and network with educators and professionals.”

• Year 1: Enroll in related training and coursework, join education-focused clubs on campus, and look for volunteer opportunities in educational settings.
• Year 2: Narrow down a focus in your preferred subject, get practical training through tutoring or assistant teaching, and attend educational conferences or seminars.
• Year 3: Engage in student teaching placements, initiate a project or research in your area of interest, and start networking by attending education career fairs.
• Year 4: Complete degree with a focus on courses relevant to your preferred subject, gain further experience via internships or student teaching, and prepare for teacher certification exams.
• Year 5: Pass the teacher certification exam, secure a teaching position, and seek professional development opportunities for continual learning and growth.

3. Business College Student

Goal: “In 5 years, I aim to secure an entry-level management position in my desired industry. I’ll need to graduate from a strong business program, gain practical work and leadership experience, and build my professional network.”

• Year 1: Enroll in pertinent business courses, seek out internships, and join business-oriented clubs and organizations on campus.
• Year 2: Focus on core business classes like finance, marketing, and operations, and secure summer internships. Attend networking events and workshops.
• Year 3: Pursue specialized business courses based on your area of interest, take on leadership roles in campus organizations, and work on a project related to your chosen business sector.
• Year 4: Finish degree with high grades, pursue an industry-aligned internship, and begin building a comprehensive job search strategy.
• Year 5: Secure an entry-level business position, start networking within your chosen industry, and pursue opportunities for continuous learning and career advancement.

4. Young Couple in their 20s

Goal: “In 5 years, we aim to be financially stable, advance in our respective careers, and perhaps start a family. This will require careful financial planning, professional growth, and personal development.”

• Year 1: Outline joint financial goals, start saving a certain percentage of income, and take roles that offer career growth.
• Year 2: Focus on upgrading necessary skills for job advancement, look for investment opportunities, and start discussing and planning for family expansion.
• Year 3: Check progress against career goals , increase savings and investments, and incorporate family planning into lifestyle decisions.
• Year 4: Evaluate career advancement, reassess financial standing, and prepare personally and financially for the potential addition of a family member.
• Year 5: Consolidate career positions, ensure financial stability, and consider starting a family, based on personal circumstances and readiness.

5. Married Couple in their 30s

Goal: “In 5 years, we aim to have substantial savings for downpayment on a house, secure strong positions in our respective jobs, and raise a well-adjusted family. This will require continuous financial planning, career progression, and balanced family life.”

• Year 1: Re-evaluate financial goals and plans, remain committed to career advancement, and take proactive measures for work-life balance .
• Year 2: Implement changes to career paths if needed, continue regular savings for house and emergency fund, and ensure a healthy balance between work hours and family time.
• Year 3: Evaluate career growth and make adjustments as necessary, increase savings for the house purchase, and start considering suitable neighbourhoods/schools for family life.
• Year 4: Secure strong positions in chosen careers, maintain a growing saving fund, and begin house hunting while ensuring the emotional and educational needs of the family are met.
• Year 5: Finalize the savings for the house down payment, ensure job stability, purchase a house, and aim for a balanced family life with time for personal and professional growth .

6. Couple in their late 50s

Goal: “In 5 years, we aim to transition smoothly into retirement, secure our financial futures, and spend quality time with our loved ones. This will require financial planning, health management, and nurturing personal interests.”

• Year 1: Evaluate financial standing and retirement savings, work to finalize career commitments, and pursue healthy lifestyle habits.
• Year 2: Work on increasing retirement savings, plan succession in the job, and start exploring interests that could be pursued post-retirement.
• Year 3: Review financial plans with a financial advisor to ensure a comfortable retirement, begin passing on important career responsibilities, and develop further hobbies and interests.
• Year 4: Smooth transition out of working life, finalize retirement funds, and invest in health by joining wellness courses or activities.
• Year 5: Fully retire, manage retirement funds wisely, retain active social life through hobbies, interests, and family, and ensure regular health check-ups.

7. Early Career Professional

Goal: “In 5 years, I aim to be in a leadership position within my industry. This will require professional development, networking, and a strategic approach to my career progression.”

• Year 1: Set clear career goals, seek mentorship, and start building a strong professional network.
• Year 2: Pursue opportunities to advance skills, whether through on-the-job training or further education, and deepen industry connections.
• Year 3: Take on more significant responsibilities within your role, start attending industry conferences, and pivot your career path if necessary based on market trends.
• Year 4: Seek roles with increasing responsibilities, continue professional education to stay updated, and expand your influence within your professional network.
• Year 5: Secure a leadership role in your industry, continually update your skill-set to stay competitive, and solidify your position within your professional network.

8. New Business Goals

Goal: “In 5 years, our cafe will be a profitable, beloved local establishment, having expanded to a second location. This will require dedicated work in customer service, marketing, and business strategy.”

• Year 1: Have a strong start with rigorous staff training, dedicated customer service, and an aggressive marketing plan to establish the brand.
• Year 2: Consolidate operations through the refinement of offerings based on customer feedback, intensify local marketing efforts, and aim to break even financially.
• Year 3: Enhance customer loyalty through reward programs and community events, initiate a profit-making plan, and start considering expansion ideas.
• Year 4: Achieve a consistent profit margin, continue focusing on customer satisfaction while building a strong presence in the community, and start finalizing plans for a second location.
• Year 5: Expand to a second location, ensure both cafes are profitable, and continuously work on the upkeep of quality, and customer engagement.

9. Mentorship Goals

Goal: “In 5 years, I aspire to have positively influenced numerous individuals in their personal and professional development. This will require continuous learning, networking, and enhancing my mentoring skills.”

• Year 1: Understand your mentees’ needs, develop personalized mentoring strategies, and also focus on continuous learning.
• Year 2: Improve mentoring skills through workshops and certifications, increase your network of professionals and keep up-to-date with industry trends.
• Year 3: Offer mentees opportunities for exposure and growth within your network, seek feedback on your mentoring, and adjust strategies as necessary.
• Year 4: Nurture long-term relationships with mentees, measure the impact of your mentoring, and seek new mentees, if capacity allows.
• Year 5: Expand your mentoring practice by possibly writing a book, starting a blog, or hosting workshops based on your experiences and successes. Be proud of the positive impact you’ve made and continue refining your mentoring strategies.

See More Goals for Mentorship Here

10. Retirement Goals

Goal: “In 5 years, I aim to be comfortably retired, leveraging my savings for a stable financial future, and enjoying my interests and hobbies. This will require smart financial handling, health management, and personal development.”

• Year 1: Finalize retirement savings and plans, tie up loose ends at work, and identify hobbies and pursuits of interest for your retirement years.
• Year 2: Begin to transition out of work life and into retirement, adjusting your lifestyle to match your post-retirement budget. Start to engage more actively in hobbies and pursuits.
• Year 3: Officially enter retirement, reorganize your finances as needed, and continue to invest time in personal interests and social activities.
• Year 4: Ensure your funds are being managed wisely based on your lifestyle, maintain a balanced schedule with activities that bring you joy and keep you healthy.
• Year 5: Continue to monitor financial status and adjust spending as needed, stay active by finding new hobbies and interests, and seek opportunities for lifelong learning and growth.

See Also: 10 Year Goals Examples

Before you Go

To get started with your goalsetting, I recommend using the SMART Goals format. Here’s a printable template I’ve provided for you:

Get the Google Docs Template Here

Chris Drew (PhD)

Dr. Chris Drew is the founder of the Helpful Professor. He holds a PhD in education and has published over 20 articles in scholarly journals. He is the former editor of the Journal of Learning Development in Higher Education. [Image Descriptor: Photo of Chris]

• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 5 Top Tips for Succeeding at University
• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 50 Durable Goods Examples
• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 100 Consumer Goods Examples
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7+ SAMPLE 5 Year Business Plan in PDF

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1. it provides you with the opportunity to make positive changes in your life, 2. it has a significant impact on your ability to concentrate, 3. it contributes to your development, 1. it assists you in discovering more about yourself, 2. it aids in the development of long-term objectives, step 1: consider your professional objectives and make a list of them, step 2: make a list of your abilities that will assist you in achieving your career objectives, step 3: break down your ambitions into smaller, more manageable chunks of time, step 4: look for opportunities on a regular basis, step 5: continue to refer to your five-year strategy, share this post on your network, file formats, word templates, google docs templates, excel templates, powerpoint templates, google sheets templates, google slides templates, pdf templates, publisher templates, psd templates, indesign templates, illustrator templates, pages templates, keynote templates, numbers templates, outlook templates, you may also like these articles, 5+ sample investment company business plan in pdf.

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Free 5-year plan template to organize the planning process

As a business leader, you know the decisions you make today can shape the future of the company. If you want to control that trajectory, a 5-year plan template can be a useful tool. The right template helps you organize ideas, analyze data, and prioritize the goals you want to achieve — that way, you can create a framework that informs strategic decisions and guides your company toward its ultimate growth goals.

In this article, we’ll explore the parts of a 5-year plan template and discuss how to use it in your business. Then, we’ll dive into the ways you can integrate a 5-year plan into the monday.com Work OS to create a more efficient and powerful workflow.

Get the template

What is a 5-year plan template?

A 5-year plan template is a model document that helps you map out company goals and strategies for the next 5 years. Many templates contain a variety of common sections that you can edit to reflect the goals and needs of your business:

• Executive summary: Top-level overview of your objectives and strategies
• Business description:  Mission statement, description of your products and services, and an introduction to your management or leadership team
• Market analysis: Data about your industry and target audience, trends, opportunities, and competitors
• Financial information: Historical revenue, expense data, and financial projections
• Plans and objectives: Goes into detail about your short and long-term goals and sets company priorities, discusses the goals you want to achieve, and explains the strategies and methods you’ll use

The right structure for your 5-year plan template depends on your company’s specific goals. If you’re going after investors, for example, a traditional structure can help you meet expectations. If the plan is mostly for internal use, you can be more flexible and still reap the benefits of the template.

Why use a 5-year plan template?

A 5-year business plan provides a structure to help you think strategically about your company’s plans for the next few years. Use the preexisting headers to guide your discussions and spark new ideas; you can also add new sections to tailor the content to your business. When it’s time to write, the template helps you organize ideas and format them into a usable document that can provide a slew of benefits for your business.

Guide business decisions

A 5-year plan clarifies your company’s priorities, creating a set of strategic objectives that serves as a reference point when it’s time to make decisions or evaluate opportunities. If your priority is to build brand awareness among Gen Z customers, for example, you might jump at the chance to establish a presence on the hottest new social media platform. If you’re laser-focused on building the best management team in the industry, however, it would be easy to see that your resources are better spent elsewhere.

In addition to serving as a guidepost for major strategic initiatives, your 5-year plan can inform business decisions of all sizes. Look to it when you’re:

• Making a budget
• Assessing the organizational structure
• Designing a marketing plan
• Adding or removing products and services
• Writing business policies
• Setting up a technology infrastructure

Enable strategic hiring and training

A solid 5-year plan makes it easier to anticipate upcoming personnel needs, so you can make strategic hiring decisions. If you have limited resources, the plan can also help you figure out which tasks require a full-time employee and which ones you can outsource.

Are you thinking about training your existing employees? To determine the courses and topics with the highest ROI, compare the skills and abilities of your workforce against the practical needs outlined in the 5-year plan. This process highlights skill gaps and exposes the most urgent training opportunities.

Stay focused on goals

A lot can happen in 5 years — managers come and go, market conditions shift, and unexpected events can arise out of nowhere. In the midst of all that change, a well-written 5-year plan is a constant. It keeps your team focused on the same long-term goals, regardless of turnover. This unified approach can ensure that you’re always making progress in the right direction.

Prepare for challenges

Writing a 5-year plan requires you to analyze the business and the industry. As you dig into available data, you gain a deeper understanding of your customers, operations, competitors, and the market itself. With that knowledge, you’re better positioned to anticipate potential challenges and roadblocks. Awareness is everything; it helps you spot early warning signs, so you can start preparing the company to adjust short-term goals and adapt quickly.

Build confidence among investors

If you’re thinking about seeking investments to fund business expansion, a 5-year plan is essential. A thorough, well-written document reassures investors that you’ve done your due diligence and demonstrates that your company is positioned to make a profit. A template can help you examine and analyze each part of the business systematically to ensure the plan addresses investors’ top concerns.

When you’re ready to grow, a professional 5-year plan template can help you woo investors.

What are some examples of 5-year plan templates?

No two companies have identical 5-year plans; the template that works best for your organization depends on the age of the business, the nature of your goal, and how you’re planning to utilize the plan.

Startup plan

A 5-year plan creates a roadmap to follow as you establish a startup, build an audience, and stake out a place in the industry. This type of template often contains lengthy sections about marketing, sales, and product or service development; it also tends to be heavy on research and analysis.

Growth and expansion plan

When your company has been in business for a few years, you might start to think about expanding. A 5-year plan helps you approach growth strategically; it’s a good way to identify the best opportunities and find ways to minimize risk. These plans often analyze competitors and discuss the costs and benefits of different growth options.

One-page plan

Whether you’re growing a startup or expanding an established business, a traditional 5-year plan contains a high level of detail. The one-page business plan  version provides a quick overview — it highlights the most important points of each section. Instead of explaining your market research and explaining how they inform each goal, for example, you could note the key findings and include a prioritized list of goals.

5-year plan template on monday.com

Whether you’re creating a plan for an arts nonprofit or an engineering firm, the 5-Year Plan Template on monday.com can help you navigate the process. A color-coded header system enables you to organize and identify top-level sections. Within each one, you can add descriptions and build out a list of objectives, goals, manager profiles, financial projections, and other details.

The monday.com template adds an extra level of detail and functionality to your 5-year plan. For each item in a section, you can add a variety of columns that track the status of a project, identify relevant team members, designate a timeline, or set a budget. You can even add a column that links critical files to ensure easy access for all of your stakeholders. When you start working toward the goals in your plan, monday.com offers different Board Views , project management tools, and automations to streamline your workflow. Your template also integrates seamlessly with Work OS, an open platform that enables you to create and customize the tools you need to monitor and run your business.

A 5-year plan is just one of the documents you need to map out and execute a long-term business strategy. The template library at monday.com includes a variety of options to help manage your company’s growth and development.

Related templates on monday.com

Marketing plan.

If marketing plays a role in your 5-year plan, consider integrating the Marketing Plan Template  into your strategic planning sessions. With sections for different projects and columns that enable you to assign tasks and monitor progress, it can also serve as a project management tool.

Recruitment process

Manage the hiring goals in your 5-year plan with the help of the Recruitment Process Template . It tracks each applicant through the different stages of the process and enables you to track referral sources to inform your job-posting strategy. Status reports for interviews and hiring decisions ensure efficient communication between departments.

Frequently asked questions

What is a 5-year plan.

A 5-year plan is a document that outlines your company’s goals and strategies for the upcoming years. It also provides information to support the plan, such as a market analysis and financial projections.

What should I include in a 5-year plan?

When you’re writing a 5-year plan, include an executive summary, a description of the business, and an analysis of the market, company finances , competitors, and customers. Follow that up with a section that lays out the goals, objectives, and strategies your company will pursue over the next 5 years.

What are 5-year goals examples?

Examples of 5-year goals might include developing new products, expanding to a new location, or reaching new audience segments. You might also set internal goals, such as improving the company culture or building the most talented workforce in the industry.

Using the 5-year plan template for sustainable growth

As you navigate the strategic-planning process, a 5-year plan template can help organize your ideas and set thoughtful, research-backed goals. You’ll emerge with a document that guides business decisions and unites employees around a common purpose. With monday.com, you can incorporate the 5-year plan template into your Work OS to manage projects, set smaller goals, and track progress toward your high-level objectives.

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Top 7 5-Year Plan Templates with Examples and Samples

Gaganjyot Kaur

Data indicates that companies with well-structured 5-year plans exhibit higher growth rates and resilience. These strategic roadmaps provide a holistic vision and direction, facilitating informed decisions and adaptability amidst an ever-evolving business landscape.

For instance, a technology start-up aiming to disrupt the electric vehicle market. Without a 5-year plan, the company might lack a cohesive direction and struggle to allocate resources effectively. However, with a well-crafted plan, they can chart their course more confidently.

Moreover, a 5-year plan aids in attracting investors. Demonstrating a comprehensive roadmap can instil confidence in stakeholders as they see a well-thought-out strategy for growth and profitability.

5-Year Plan Templates for Strategic Growth

So, the question is are you ready to seize opportunities, tackle challenges, and achieve sustainable success? SlideTeam brings you its content-ready and custom-made PPT templates to offer a clear sense of direction and purpose, helping employees understand their roles in achieving those objectives. Grab these PPT slides to ensure everyone is aligned and working towards the same outcomes.

Each of these templates is 100% customizable and editable. You get both structure in the form of content ready slides, and the edit capability means the presentation can be easily tailored to specific audience profiles.   

Browse the collection below and craft a well-structured 5-year plan for your company.

Let’s dive in!

Template 1: 5-Year Strategic Business Plan PowerPoint PPT Template 

Your five-year business strategy should outline the course your company is on. Portray with detailed slides how you foresee the sector will be like in five years, anticipated trends, and how your company will address the issues facing your target market. The slides are appropriately organized using design methodologies appropriate for multiyear business plans. It will help you display marketing strategies, financial predictions, competitive analyses, assessment of SWOT, communication, and future routes that should all be included in a standard five-year business plan.

Download and plan.

For your five-year company plan, you simply need exceptional advice that is guaranteed to work. Get 5 Essential Tips to Develop a Solid 5-Year Business Plan here .

Template 2: 5-Year Plan of Customer Acquisition and Retention of The Company

Customer retention is all about looking after your current customers and, in some situations, having them come back for more. Customer acquisition is about using advertisements to locate and attract new consumers. Both are crucial for growth, but they require distinct approaches and techniques to succeed. The PowerPoint presentation will help you find the balance of both these tactics. You can monitor the information on 5 stages of the process to achieve the required target audience. This slide demonstrates how much attention should be paid to acquiring new clients and keeping the ones you already have. It also demonstrates how many new clients should be targeted in order to have a strong clientele.

Download here .

Template 3: 5-Year Planning Gantt Chart for Market Development Template

For successful execution of work, the Gantt chart is an important business plan tool. Let this ready to use template assist you in visualizing project deliverables, timeframes, and progress. Edit it according to your marketing plan to assign time and responsibilities using the graphical lines or bars that show tasks, progress, and status. Create the project timeline shown by horizontal bars of various lengths, which can also include job durations, beginning and ending times, and task progressions. It will help you determine how much work has to be done. 

Download here.

Template 4: 5-Year Planning Gantt Chart Showing Progress Percentage

Deploy your strategic plan with our specially curated Gantt chart template, which illustrates information like tasks assigned to, status, priority, and start and end dates to depict progress percentage. Deliver on schedule by planning all tasks in advance and making them visible in one location. Customize your team's project Gantt chart according to your distinct workflow and critical path, and let it represent the progress percentage through a horizontal bar graph. Download this slide to monitor the schedules, and the workflow, determine the requirement, and estimate timelines to deliver on time. 

Get it here.

Recognize strategies that don't produce the desired results and choose alternative approaches to make use of different resources with the help of the 5-Year Transformation Roadmap Plans for Planning Ahead.

Template 5: 5-Year Planning Gantt Chart with Business Expansion Template

As you work on your business expansion, you would require to monitor projects in an optimal way. A Gantt chart is a business plan tool that assists with project planning, scheduling, and oversight. You can use the PowerPoint presentation to track progress and get a broad sense of how the project is moving forward with the scope of business expansion by monitoring customer research, primary research, and market research. Develop tactics to enhance the market share of a specific good or service by use of market penetration.

Use the templates with ready-made headers to plan and schedule these projects in order to distribute resources efficiently and to ensure that higher-priority projects are completed before lower-priority ones.

Template 6: 5-Year Planning Gantt Chart with Completion Percentage

The strategic plan is crucial to evaluate work in progress, analyze long term contracts and business environment for the success. This premium PPT template provides you with the baseline concepts to go forward. Use headings like Situation Analysis to monitor the business environment internally and externally, Company Analysis to keep an eye on the financial position and prospects and Customer Analysis to identify your target market. Staying ahead with finding competitors in your business and learning about their various marketing methods is the process of conducting a Competitor Analysis. With this template, you can be aware of your requirements and plan a marketing strategy to implement promotional schemes to widen your target audience.

Template 7: Five-Year Strategic Plan for E-Business Template

This is a pre-designed PPT template that showcases a plan for market expansion through market development and product diversification. Grab this PPT slide to achieve new markets or retain old customers. Channel marketing plan with e-business marketing strategies mentioned in the slide like e-mail advertising and mobile-based approach. The slide helps you present how tactics like giving internet clients personalized experiences and social media advertisement can create growth in your business and create a new audience.

A five-year plan is a list of objectives a business aims to accomplish over the course of the following five years. It often includes objectives with clear time lines and measurements. 

With the support of this template plan, you can define the approach, and you can set more manageable goals to help you reach the more ambitious ones in your five-year plan.

The slides can considerably boost your presentation for demonstrating multiyear business plans. You should define your objectives, ensure they are measurable and detailed, and achieve desired results. 

FAQs for Strategic Plan for E-Business

What is a 5-year plan and its importance.

A five-year business plan is a plan of action that aids organizations in more effectively achieving long-term objectives, such as attracting investors or generating a set level of revenue. It is crucial as it guarantees that everyone is working toward the same objectives and gives the company a clear direction and focus.

What is the 5-year plan example?

With a 5-year plan, you can identify the steps you need to achieve to reach the goals. For example, you are a 3rd-year student living in a hostel. Your aim for 1st year could include completion of graduation and search for a job. 2nd year, you may plan to clear all your student loans, and for 3rd year, you may aim to apply for MBA by increasing your monthly savings. And in subsequent years, completing the course and pursuing a business manager post by the end of the 5th year.

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5-Year Strategic Plan

Creating a five-year strategic plan must be considered by your business as it allows the management to have a guide when it comes to setting the direction of the business operations.

More so, a five-year strategic plan presents the vision of the company which is a great way to build action plans that the workforce and other stakeholders can refer to. Simply put, a  five-year strategic plan  can make the objectives and goals of the business be realized by aligning strategies and tactics with particular call-to-actions.

To come up with an effective five-year strategic plan, it is essential for you to understand the gap between the conditions of the business now and that of the future. You have to be realistic when writing all your professional goals and action plans. Also, focus on how you will present the document to different entities.

You can start developing the presentation of your five-year strategic plan with the help of our examples. Download the specific example that you think is a great reference for you and your business.

5 Year Strategic Plan Template

• Google Docs
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5 Year IT Strategic Plan Template

Size: 27 KB

5 Year Strategic Business Plan Template

Size: 26 KB

5 Year Plan Template Example

Size: 30 KB

Simple 5-Year Strategic Plan Example

Size: 127 KB

Standard 5-Year Strategic Plan Example

Size: 198 KB

Basic 5-Year Strategic Plan Example

Size: 333 KB

Initial and Important Things to Know about 5-Year Strategic Plan Development

Businesses from different corporate and creative industries develop strategic plans that ensure that they are well-guided when it comes to their operations and activities. As an example, a five-year term  restaurant strategic plan  is important for restaurant businesses to know how they can brand themselves in a way that they can be different from competition that also offer the same food items or products.

This document can also help a restaurant know the next things that they need to do in terms of financial state improvement, marketing program implementation, and other activities for the business. If you want to create a 5-year strategic plan, here are some of the initial and important things that you have to be aware of:

1. Be knowledgeable of the basics of developing a five-year strategic plan. This can help you to create realistic goals that can be backed up by measurable action plans, programs, and activities. It may be hard at first to look into the things that you would like to achieve in the span of five years. However, being able to set a direction for the business can help you reach corporate milestones accordingly. You may also see strategic planning checklist examples .

2. It is essential for you to have a framework that can be the basis of your call-to-actions. You have to be specific with the things that you want the business to be successful at. However, always be reminded that there will be a lot of changes that can happen within five years. Hence, you have to make sure that the five-year strategic plan that you will make is also flexible. You may also like sales strategy plan examples .

3. You have to make sure that you will present the current state of the business. The condition where the operations is at must be evaluated properly so you can identify the strengths that you can further develop and the weaknesses that you can look into and practice to improve. Being able to know what the business condition is and what it needs to grow can help the entire team finalize a list of development processes and activities. You may also check out  personal strategic plan examples .

4. Allow your action plans to be measurable and specific. With this, a time frame can be showcased where all the activities that you have planned will be plotted based on their effect to the different areas of the business and its operations. Knowing that you are particular with your goals can help the workforce have more focus when it comes to delivering the responsibilities and obligations that are given to them.

Campus Farm 5-Year Strategic Plan Example

Parks 5-Year Strategic Plan Example

Importance of Knowing the Current Condition of the Business When Making a 5-Year Strategic Plan

Even if you are making plans for the future operations of the business, it is still essential for you to look into the current processes and activities that are followed by the operations team. You also have to observe how the business is being managed as well as how marketing and advertising efforts affect the business and its image. These suggestions are also applicable when creating  HR strategic plans  and  hospital strategic plan examples .

Here are some of the reasons why it is important for you to know the current condition of the business when making a five-year strategic plan:

1. The current condition of the business can allow you to measure the gap that you need to bridge. Since you want to be in a particular state or business condition, you need to have an idea on how far your better goals are from reality. Having the knowledge about this matter can help you prepare the necessary steps that the business needs to take for milestones to be achieved within expected time periods.

2. The current condition of the business can present the guiding principles that you need to follow when making a five-year strategic plan. More so, you can be more efficient in terms of following existing protocols, regulations, and business rules. You may also see security strategic plan examples .

3. The current condition of the business can make it easier for you to identify your starting point. Just like any other activities, creating a five-year strategic plan must start from somewhere workable and has the potential to be developed. This can also help you to know the development platforms and communication channels that you will use at certain time frames within the implementation of the five-year strategic plan. You may also like one-page strategic plan examples .

4. The current condition of the business can help you identify the key items or elements that you will be working with. Considering the existing factors that affect the growth of the business, you can point out the things that are needed to be changed to ensure that the business can get its desired results. You may also check out procurement strategy plan examples .

5. The current condition of the business can lead you to the execution of a SWOT analysis . Before drafting a five-year strategic plan, you first need to have all the details and data that can give the direction to where your strategic plan will be developed. Knowing the current strengths and weaknesses of the business as well as the threats and opportunities within the market environment can give you reality-based findings and information sources that can further improve the document that you will be making.

6. The current condition of the business can give you an idea about the actual results of business activities, programs, processes, and efforts. Knowing the relevant successes and previous failures of the business can give you the ability to change items that weaken the business and propose strategies and tactics that can better the overall operations and management of the business .

Community Churches 5-Year Strategic Plan Example

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5-Year Strategic Plan Example

Size: 13 MB

School of Technology Management 5-Year Strategic Plan Example

Do You Want to Have an Effective 5-Year Strategic Plan?

Ensure that your five-year strategic plan is active and action-based. It is important for you to get the attention and approval of all the stakeholders of the business so you can minimize challenges rooting from misunderstandings in the future. The participation of entities who are expected to provide their deliverable can give you the results that you would like to achieve. You may also see community strategic plan examples .

Here are a few other things that you can do to ensure that you will create an effective 5-year strategic plan that can provide a lot of benefits to your business, its operations, and its stakeholders:

1. Be resilient when it comes to achieving your corporate or business goals . Your 5-year strategic plan must be flexible. Be reminded that there are many ways in which your desired outcomes can be achieved. With this, you just have to lay all your options and select backup plans. Being prepared by changes, shifts of directions, and other unforeseen circumstances can make the usage of your five-year strategic plan more successful.

2. Make sure that you will identify the areas of the business that you would like to develop. It is recommended for you to have a general master plan and then have supporting strategic plans per area so you can fully discuss your suggested activities in minute details. You can incorporate  sales strategic plan examples  and other kinds of strategic plans that the business uses when making your 5-year strategic plan draft. This can further define the objective of every action that you would like the workforce to execute.

3. It is important for you to have a projection of the business five years from now. Being able to present this information can identify whether the results that you want to get is worth the efforts, time, and resources that you are willing to use. You may also like business development strategy plan examples .

Department of Economic Security 5-Year Strategic Plan Example

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Hospital 5-Year Strategic Plan Example

Tips and Suggestions in Developing a 5-Year Strategic Plan

Have you made a 5-year strategic plan before? Or is this your first time to create this kind of document? No matter what your knowledge scope is when it comes to drafting 5-year strategic plans, being able to understand the concept of the document and referring to existing 5-year strategic plans can already guide you in terms of successfully creating your own 5-year strategic plan. You may also see marketing strategy plan examples .

In addition to what has been specified above, it is of utmost importance for you to know the purpose of the document, the proper usage and implementation of the simple strategic plan , and the effective planning of your processes for document content execution. More so, there are recommendations and guidelines that can also help you be better in the craft.

Listed below are a few tips and suggestions that you can follow when you are already in the development phase of a 5-year strategic plan.

1. Know the relevance of the 5-year strategic plan with the vision, mission, objectives, and operational nature of the business. There are different strategic plans that are applicable for various industries and corporate practices. As an example, there is a big difference when it comes to the content of a five-year  real estate strategic plan  with that of a five-year hospital strategic plan.

This only goes to show that it is truly essential for you to know all the elements and factors that can affect the potential successes of using a 5-year strategic plan.

2. Know the strategies, techniques, and tactics that you will incorporate in your action plans. You have to define the weight or value that these items can add to the effectiveness of your call-to-actions. Knowing the proper incorporation of these items with your general plans can help strengthen the framework that you will use for the entire five years of business operations.

3. Have a list of both your long-term and short-term objectives. You have to set these items right away as they can provide you an overview of the potential time that you will spend within the processes of business development. This can also help you allocate your resources properly in consideration of the time frames specified in the 5-year strategic plan. You may also check out school strategic plan examples .

References can be very beneficial within the activities that you will undergo in relation to the creation of a 5-year strategic plan. Examples and templates can give you an easier time when learning how to properly put together all the details that are essential to be included in your company’s 5-year strategic plan. You might be interested in health and safety strategic plan examples .

Take your time when looking into all the downloadable examples that we have presented so you can efficiently come up with an impressive 5-year strategic plan.

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