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In this section, you need to demonstrate that you have thoroughly analyzed the target market and that there is enough demand for your product or service to make your business viable.The competitive analysis includes an assessment of your competition and how your business will compete in the sector.Once you complete your simple business plan be sure to format it attractively, print it and get it professionally bound.
It’s not easy to keep everything completely up-to-date as you make changes to your numbers, and integrating the right charts and graphs into your business plan is harder than it looks.
However, if you’re new to business planning and just want to get a sense of what a plan looks like and want to get the process started quickly and cheaply, then downloading a free template is the best way to get started.
Plus, it shows you the general layout of a standard business plan so you know what goes where and that you're not leaving out anything.
A great business plan template will also provide instructions for each step of your plan and show you what an investor-ready and SBA-approved business plan should look like.
That best way to find out whether you do or not is to do your research and write a business plan to see if your idea is feasible.
The simple business plan template presented here will get you started.Pros of using a business plan template: A good business plan template can help you get your thoughts organized.It can provide a guideline so you’re not stuck looking at a blank page trying to figure out where to start.A corporate business plan for a large organization can be hundreds of pages long.However, for a small business, it's best to keep the plan short and concise, especially if you intend to submit it to bankers or investors.Enter your business information including the legal name, address, etc.If you already have a business logo you can add it at the top or bottom of the title page.You can turn to How to Write the Competitors Analysis Section of the Business Plan for help.The Target Market description and Competitive Analysis portions can be two separate sections in the plan or combined as shown: A description of how you intend to entice customers to buy your product(s) or service(s), including advertising/promotion, pricing strategy, sales and distribution, and post-sales support if applicable.The business plan template below is broken into sections as described in the table of contents.Each section of the template can be copied into a Word, Excel or similar office document by selecting the text and using copy/paste.