Free Business Plan Template for Excel
With a business plan template, creating a business plan for a start-up becomes a much more straightforward process.
But why do you need a business plan?
If the plan is to source for funds via a bank or third-party investor, then a business plan is essential.
If your idea for capital sourcing is to use today’s advanced fundraising techniques, then you definitely need to create a relatable business plan using a template that prospective investors will understand.
Even if it’ll not be used as a capital-raising tool, a business plan can help entrepreneurs answer questions vital to the success of the business.
It can function as an internal roadmap that helps entrepreneurs execute company strategies, especially at the beginning of the business.
For newbie entrepreneurs, the process of writing a business plan can be daunting.
After all, there are so many factors to be considered.
Furthermore, there are different areas of a business that you need to account for.
However, this is where a business plan Excel template comes in.
With a free business plan template, you can quickly detail the execution strategies for your business.
Furthermore, a business plan spreadsheet Excel template that is Office365 integrated makes your work easier.
In this article, we will discuss how to use a free template to improve the efficiency of your business plan.
Come along!
The Need for a Business Plan Excel Template
There are many options you can explore before writing a business plan.
This is why many people ask, is an Excel template the best place to start?
The answer is yes, and we’ll show you why.
For newbie project managers, writing a business plan can be very difficult.
Imagine staring at a blank page, trying to figure out how and where to begin.
If you don’t have the requisite experience and writing skills, you’ll only end up spending hours with no positive results.
Luckily, you can download a business plan excel template and start writing with a clear direction in mind.
The best business plan template (works with Excel) will offer clear instructions for every step of the plan.
You will be provided with an outline that results in an SBA-approved business plan.
Don’t start writing a business plan without following a template. In the next section, we will show you exactly how an Excel template will boost the effectiveness of your writing process
Free Business Plan Template in Excel
Click to download our Free Business Plan Template in Excel to begin simplifying your project management.
How a Free Business Plan Template Improves Your Business Plan
Still considering whether to download our free excel template? Here’s why:
It Helps You Write With Confidence
Typically, the best business plan template integrates seamlessly with Excel spreadsheets.
As a result, you can write down your ideas and strategies in an easy-to-understand format.
More importantly, you can write with confidence.
You see, certain important sections must be included in your business plan.
With a free template, first-time business plan writers will be provided with a clear plan to follow.
All you would have to do is flesh up each section with original research and writing.
Essentially, you enjoy the freedom of putting your thoughts into place without worry about missing vital steps in the plan.
Step-by-Step Guide
As we mentioned earlier, different sections must be included in a business plan.
With this free template, each section follows the next in a U.S. Small Business Administration (SBA) approved manner.
Hence, you can move progressively through each section, writing down how your plan will provide solutions where necessary.
In the end, this means that you won’t be burdened with arrangement after writing your business plan.
Furthermore, it means the possibility of including specific details in the wrong section is eliminated.
Completely Free
The final benefit of a free business plan template is the word “Free.” Yes, at no extra cost, you will enjoy the many advantages of a business plan Excel template.
None of the information contained within the business plan template will be restricted from use.
Download and enjoy the professional structure and order that a business plan Excel template offers.
How to Use The Free Excel Business Plan Template
The business plan template on Excel spreadsheet follows this format:
Executive Summary
This section in the business plan Excel template is a summary of key talking points in your business plan.
Basically, the goal of the executive summary is to capture the interest of your readers.
Mainly, it’s about two pages long and well-detailed.
It should discuss the problem you are looking to solve with your business.
Then, outline your solution and how it is better than the competition.
Finally, it should present the business model in an easy-to-follow manner.
Products and Services
The product and service section of the business plan Excel template is designated for the description of products and services.
The goal is to show how your business will belong to generate much-needed revenue.
Hence, it will outline how these services or products will be obtained and why the target market will choose to buy them.
Market Analysis
The market analysis segment is an overview of the industry your start-up will be a part of.
Also, it will include the details of the primary and secondary target markets, how the competition is selling to that market, and how you want to upsell the competitors.
Free Business Plan Template in Excel
Click to download our Free Business Plan Template in Excel to begin simplifying your project management.
SWOT Analysis
The definition of SWOT analysis is an honest appraisal of a business’s strengths, opportunities, weaknesses, and threats.
Typically, it is the sum total of the following subsections:
- Market Research: This is a quick summary of the demand for your products or services. It may include qualitative research like surveys, discussions, and personal interviews. Also, it may be quantitative research like internet sources, etc.
- Industry Analysis: This discusses the trends in the market, the size of the niche, and significant players in the market.
- Customer Analysis: This discusses the target market in detail including the location, demographic and specific needs
- Competitor Analysis: An highlight of direct and indirect competitors. It will explore how they work and the advantages your business offers the target market over theirs.
Marketing Plan
This is a core part of writing the business plan.
With the business plan Excel template, your marketing plan will cover how products and services will reach the target market.
Also, it will include how the business will get customers to buy.
Typically, the free template will break down the marketing plan aspect into:
- Pricing: This covers the pricing estimate for goods and services. More importantly, it explores how this figure was achieved, taking into account the relative costs of production. More importantly, this price will be compared with the competition.
- Product Positioning: This covers the branding and image of the product or service in the market. It outlines how the product will be presented to the target market.
- Promotion and Advertising: This explores the marketing and advertising channels that will be used to reach the target market. It should also include a budget for each promotional channel and how the return on advertising investment will be analyzed.
- Sales Strategy: Sales goals, anticipated market seasonality, and sales models are all outlined here.
- Distribution Strategy: This part of the free business plan template outlines the distribution channel from the point of production to the customer.
Management Plan
When you download a free business plan Excel template, it comes with a section that covers the management structure of the business.
This part of the business plan template will include the following:
- Ownership Plan: This is the legal business structure. Is your startup a sole-proprietorship or a partnership? This section will answer similar questions.
- Management Team: Duties, responsibilities, and relevant skills of each member of the management team must be outlined in this section.
- Resourcing Plan: If there’s a need to hire extra staff, this section covers the necessary skills that each prospective employee should have. Also, it includes the number of employees and running costs for maintaining a staff team.
- Operating Plan: Business location, facilities, inventory needs, logistics requirements, and more are outlined here. If there’s a manufacturing process involved, the operating plan should also cover it.
- Financial Plan: This details the financial strategies for the business. Typically, it should include a balance sheet, a cash flow statement, and an income statement
- Risk and Contingency Plan: This is the final subsection of the free business template. It covers possible challenges that may affect the smooth functioning of the business. Sometimes, the business doesn’t go the way we want it to. Possible challenges can lead to complications in smooth business operations. This section covers these kinds of complications. From legislation to positive staffing issues, this section discusses how the risk these issues offer will be minimized.
As you can see, doing all of the above without a template to follow is complicated — especially without prior experience. Take advantage of the functionality of a business plan template!
Originally published on www.projectcentral.com
