Creating a career around your passions is no easy feat. It’s something that countless people dream about, but few actually pursue. If you’re thinking of taking the leap of starting a business, creating a business plan template can put you in a position to build the framework for your business to be successful. A business plan template offers a simple guide or blueprint on what you need to grow. Not only can it serve as the guiding principles for your business, it’s also a tool that can be used to help you raise money and funding to grow your business.
Here's a guide on some key information to include when you’re writing your business plan.
1. Executive summary
This is arguable the most important part of your business plan, because it’s used to capture the attention of your readers. With your summary, it's recommended that you outline the problem or need you aim to address, your solution for customers, a description of the owners, and financial information about your business. Looking to get a small business grant, too? We've outlined how to write grant executive summary and cover letter for your proposal.
2. Description of your business
What are the services you’re offering? If you’re starting a business as an educator, maybe it’s tutoring in your community? Or group after school classes? Regardless of the business you’re starting, it’s important for both you, and your readers, to have an understanding of what your business will be seeking to do!
In addition to what you do, make sure to include information about how you’re operating as well. What state are you operating in? Are you an LLC or a non-profit? Give your readers a detailed explanation of who you are.
3. Market analysis
When writing your market analysis, the goal is to outline who the audience you’re trying to reach is, where your customers will come from, and how you’ll deliver your services to them. Break down who your ideal customer is and how you can best serve them. Are they families in your community? Or maybe customers you’ll reach virtually in different cities?
4. Your team
Whether you’re a mighty team of one or a room full of energetic teachers, it’s important to talk about the team members growing your business! How is your business organized? Who is in charge of what roles and responsibilities? This section can be thought of as mini resumes for your staff.
5. Financial plan
A precise section of your financial plans will help you forecast your growth. What do you project your profits to be? What are your overhead costs? This section should be a detailed overview of all of your finances.
Now you know what you need in your business plan template
Business plans are more than just for raising money. They create structure, lay frameworks for your growth, and keep you on track to stay true to your mission. As you launch and grow your children’s education business, it’s important you have the tools in place to run a smooth operation. Sawyer will help. Whether it’s managing class rosters, quick charging customers, or providing a small business networking community, we’ll make your day to day management easy-as-pie!