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SBA Business Plan Template: A Step-by-Step Guide

Welcome to the world of business planning! If you’re ready to take your entrepreneurial dreams to the next level, you’ve come to the right place. In this step-by-step guide, we’ll walk you through the ins and outs of creating an effective business plan using the SBA Business Plan Template. Ready? Let’s dive in!

Crafting a solid business plan is like building a roadmap for success. With the SBA Business Plan Template, you’ll have a user-friendly tool that breaks down the process into manageable steps. No need to feel overwhelmed – we’re here to support you every step of the way.

Whether you’re starting a brand-new venture or looking to grow your existing business, a well-crafted business plan is essential. It helps you clarify your goals, outline your strategies, and secure financing if needed. So, grab a pen, gather your thoughts, and get ready to turn your dreams into a well-structured plan that sets you up for success.

So, are you ready to embark on this exciting journey of business planning? Let’s get started with the SBA Business Plan Template and unlock the potential of your entrepreneurial vision.

1. Understanding the Importance of a Business Plan

A business plan is not just a document for securing funding; it’s a roadmap that outlines the vision, mission, and strategic direction for your business. It helps you clarify your goals, identify your target market, and develop a thorough understanding of your industry. A well-crafted business plan also serves as a tool for internal decision-making, guiding your day-to-day operations and long-term growth.

When it comes to lenders and investors, a comprehensive business plan demonstrates your commitment, professionalism, and ability to mitigate risks. It instills confidence and provides the necessary information to make informed investment decisions. Moreover, a business plan is essential for attracting potential partners, employees, and customers, as it showcases your strategic thinking and sets you apart from competitors.

By using the SBA Business Plan Template, you can streamline the process and ensure that you cover all the critical components. This comprehensive template will guide you through each section, prompting you to articulate your business model, marketing strategy, financial projections, and more.

2. Navigating the SBA Business Plan Template

The SBA Business Plan Template is divided into several sections, ensuring that you consider all the crucial aspects of your business. It starts with an executive summary, where you provide an overview of your business and highlight its unique selling proposition. This section acts as a snapshot of your entire business plan, so it’s important to craft a compelling and concise summary that grabs the reader’s attention.

The template then guides you through sections such as company description, market analysis, organization and management, product line or services, marketing and sales strategy, funding request, and financial projections . Each section provides specific prompts and suggestions to help you structure and articulate your ideas effectively. It’s crucial to take your time and thoroughly research each area to ensure accuracy and a comprehensive understanding of your business.

Throughout the template, you’ll find helpful tips, examples, and resources to assist you in completing each section. Remember that the SBA Business Plan Template is a flexible tool, so feel free to tailor it to your unique business needs and industry. The goal is to create a document that not only meets the SBA’s requirements but also effectively communicates your business vision and potential to stakeholders.

3. Benefits of Using the SBA Business Plan Template

The SBA Business Plan Template offers several advantages for entrepreneurs and business owners:

• Guidance: The template provides a structured framework to ensure you consider all the essential aspects of your business, helping you create a comprehensive and well-rounded plan.
• Time-saving: By using the template, you don’t have to start from scratch. It provides prompts, examples, and resources that streamline the process.
• Access to funding: Banks, lenders, and investors are familiar with the SBA Business Plan Template. By using it, you increase your chances of securing funding, as it meets industry standards and expectations.
• Professionalism: A well-crafted business plan demonstrates your commitment and professionalism, setting a positive impression with stakeholders, partners, and potential customers.
• Clarity and focus: The template helps you articulate your ideas and refine your business strategy, ensuring clarity and focus in your decision-making.
• Research and analysis: The template encourages thorough research and analysis of your target market, competition, and industry, providing valuable insights that inform your business strategy.

SBA Business Plan Template: Key Components

Now that we’ve explored the importance and benefits of the SBA Business Plan Template, let’s delve into the key components you’ll need to address to create a comprehensive and compelling business plan.

1. Executive Summary: Setting the Stage for Success

The executive summary is the first section of your business plan, but it should be written last since it summarizes the entire document. This section is crucial for capturing the reader’s attention and providing an overview of your business, including its mission, vision, unique selling proposition, target market, and financial highlights. While you want to make it compelling, keep it concise and focused, aiming for no more than two pages.

In your executive summary, highlight the strengths and competitive advantages of your business, emphasizing the value proposition and market demand. Mention your key milestones and achievements, such as team members with relevant expertise or successful prototypes, to showcase your progress and potential. Remember, the goal of the executive summary is to pique the reader’s interest and entice them to explore the rest of your business plan.

When crafting the executive summary, pay close attention to clarity, coherence, and persuasive language. Keep in mind that busy investors and lenders often skim through business plans, so make sure the key points are easily identifiable. However, avoid overselling or exaggerating the potential of your business, as credibility is paramount.

2. Company Description: Painting a Clear Picture

The company description section provides an overview of your business, its history, and its structure. Here, you should explain your mission, vision, and values, highlighting what makes your business unique and appealing to customers. It’s important to provide a clear and concise description that captures the essence of your business and its potential.

Include details such as the legal structure of your business (e.g., sole proprietorship, partnership, corporation), the industry in which you operate, and your target market. Describe the products or services you offer and outline your competitive advantage. What sets you apart from competitors? How do you plan on positioning your business in the market?

Additionally, if your business has already achieved notable milestones, such as partnerships, awards, or a strong customer base, mention them here. It will help establish your credibility and showcase the potential for growth and success.

3. Market Analysis: Know Your Customers and Competitors

An in-depth market analysis is crucial for understanding your target market, assessing customer needs and preferences, and identifying your competitors. This section requires thorough research and analysis to gather accurate and up-to-date information about your industry and market trends.

Start by defining your target market and creating buyer personas—a representation of your ideal customers. Identify their demographics, psychographics, and purchasing behavior. Explore their pain points and needs and align your products or services with these insights. Understanding your customers’ motivations and desires will enable you to tailor your marketing and sales strategies to effectively reach and engage them.

Next, assess the competitive landscape. Research your direct and indirect competitors, analyzing their strengths, weaknesses, and market share. Identify your unique selling proposition and determine how you can stand out in the market. What competitive advantages do you have? Are there any gaps or untapped opportunities in the market that you can exploit?

Use reliable sources such as industry reports, market research studies, surveys, and interviews to gather data and support your analysis. Ensure that your market analysis is comprehensive, realistic, and accurate, as it forms the basis for your business strategy and marketing efforts.

4. Organization and Management: Building a Strong Team

The organization and management section provides insight into the structure of your business, the key team members, and their roles and responsibilities. Investors and lenders are interested in the expertise and experience of your management team, as it directly impacts the success and growth of your business.

Introduce the founders and key executives, outlining their backgrounds, qualifications, and relevant achievements. Highlight their expertise and how it aligns with the needs of your business. Additionally, mention any advisors or board members who bring valuable industry knowledge and connections.

Describe the organizational structure of your business, specifying the different departments or functional areas and their roles. If your business is in the early stages, clarify how the team will be expanded as your operations grow. This section provides reassurance that you have a strong team in place to execute your business strategy and navigate challenges.

Key Takeaways: SBA Business Plan Template: A Step-by-Step Guide

• A business plan is an essential tool for any business, and the SBA provides a helpful template to guide you through the process.
• Using the SBA business plan template can save you time and effort, as it outlines the necessary sections and information you need to include.
• Step-by-step instructions in the template help you organize and present your business idea effectively, allowing investors to understand your vision and potential.
• Writing a business plan might seem overwhelming, but with the SBA template, you can break it down into manageable sections, making it easier to complete.
• By following the SBA business plan template, you can create a comprehensive and professional document that showcases your business goals and strategies.

Frequently Asked Questions

Looking for guidance on using the SBA Business Plan Template? We’ve got you covered! Check out these commonly asked questions to help you make the most of this step-by-step guide.

1. What is the SBA Business Plan Template, and why should I use it?

The SBA Business Plan Template is a free, downloadable resource provided by the Small Business Administration. It serves as a guide to help entrepreneurs outline, organize, and create a comprehensive business plan. Using this template can greatly benefit your business endeavors by ensuring you cover crucial aspects, such as market analysis, financial projections, and competitive strategies. It provides a structured format that helps you present your ideas effectively to potential investors, lenders, and partners.

By using the SBA Business Plan Template, you can save time and effort in creating a professional and well-structured plan. It prompts you to consider essential factors that you might otherwise overlook, resulting in a more thorough and persuasive document that increases your chances of success.

2. Is the SBA Business Plan Template suitable for all types of businesses?

Yes, the SBA Business Plan Template is designed to be adaptable to various types of businesses, whether you’re launching a startup, seeking funding for an existing business, or even expanding your operations. The template provides sections and prompts that can be customized according to your specific industry and business model.

While the template serves as a valuable starting point, it’s essential to add your unique insights, strategies, and research to make the plan relevant to your specific business goals. Customizing the template ensures that it accurately reflects your vision and showcases the strengths of your business.

3. Can I use the SBA Business Plan Template if I already have a business plan?

Yes, even if you already have a business plan for your company, the SBA Business Plan Template can still be a useful resource. It allows you to evaluate your existing plan, identify any gaps or areas for improvement, and incorporate new ideas and strategies. By using the template, you can refine and enhance your existing plan, making it more compelling and comprehensive.

Additionally, if you’re seeking funding or presenting your business to potential partners or investors, using the SBA Business Plan Template can provide a standardized format that is familiar to those in the industry, facilitating better understanding and evaluation of your business.

4. What other resources can help me complete my business plan alongside the SBA Business Plan Template?

While the SBA Business Plan Template is an excellent tool, additional resources can complement and enhance your business plan creation process. Here are a few suggestions:

– Market research: Conduct thorough market research to gather data on industry trends, target audience, competitors, and potential market opportunities.

– Financial resources: Utilize financial software or consult with an accountant to create accurate financial statements and projections.

– Professional guidance: Consider seeking advice from business mentors, SCORE mentors , or industry experts who can provide valuable insights and feedback on your plan.

– Business planning courses or workshops: Participating in classes or workshops can help you develop a deeper understanding of business planning principles and improve the quality of your plan.

5. Can I update or modify the SBA Business Plan Template after completing it?

Absolutely! The SBA Business Plan Template is designed to be flexible, allowing you to update or modify it as needed. Remember, your business plan is a dynamic document that should reflect changes in your business, market conditions, and goals over time.

If you need to make modifications, simply revise the relevant sections or add new information. It’s essential to keep your business plan up to date to align with your evolving strategies and to provide accurate insights to stakeholders. Regularly reviewing and updating your plan ensures that it remains a valuable tool for guiding your business’s growth and success.

Creating a business plan is important for starting and growing a small business. The SBA Business Plan Template provides a step-by-step guide to help you organize your ideas.

First, you need to understand your business concept and target market. Then, you should outline your marketing and sales strategies. Additionally, you must detail your operations and management structure.

Second, you need to develop a financial plan that includes revenue projections and funding requirements. Finally, you should review and revise your business plan regularly to adapt to changes and stay on track.

By using the SBA Business Plan Template, you can ensure that your business plan is comprehensive and well-structured, setting you up for success in the long run. So, get started and turn your business idea into a reality!

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Find the best business loan rates (2024)

How to Write an SBA Business Plan

TABLE OF CONTENTS

Applying for a loan through the Small Business Administration (SBA)? Here’s how to write an SBA business plan for your application. 

We’ll walk you through the process and explain:

• Why you need an SBA business plan
• How to write a business plan when applying for an SBA loan
• The elements of an SBA business plan template
• How to prepare your plan for a successful SBA loan application

Why You Need a Small Business Administration Business Plan

The SBA works with a network of approved lenders to support a variety of loan programs designed to help small businesses succeed. To make these loans affordable, the SBA guarantees the loans, reducing risk to lenders and enabling them to charge lower rates. Approved lenders must not exceed rate caps set by the SBA. This makes these loans one of the most affordable forms of financing for small businesses .

When deciding which loan applications to approve, one of the most important factors lenders consider is your company’s ability to repay your loan. Because of this, one of the best ways to improve your odds of getting a loan is to present lenders with a well-written business plan.

How to Write a Business Plan for an SBA Loan

A typical sample business plan for an SBA loan typically includes 9 key components, according to the SBA :

• Executive summary
• Company description
• Market analysis
• Organization and management
• Service or product line
• Marketing and sales
• Funding request
• Financial projections

Use this SBA loan business plan sample outline to organize the structure of your plan. Then use the detailed explanation of each section below to flesh in your outline.

To fill in the details of your outline, you may find it convenient to first assemble some preliminary information you’ll need, including:

• A brief statement summarizing your company mission
• Business incorporation papers
• Market research summaries and resources
• Your company organizational chart
• Resumes of key staff members
• Marketing and sales strategy planning
• Financial statements projecting your business performance over the next few years, including a profit and loss statement (income statement), balance sheet and cash flow statement

Having this information available will make it easier to write your plan.

Filling in Your SBA Business Plan Template

Now we’ll explain what belongs in each section of your business plan. The items included below illustrate what typically goes in each section, but depending on the nature of your business, you may choose to omit certain items or include others. Adjust these guidelines to your individual needs.

1. Executive Summary

Your executive summary presents a short overview of the highlights of your business plan. It’s designed as a short overview of your plan for busy lenders who have to read many SBA loan applications are trying to decide whether it’s worthwhile to continue reading the rest of your plan. If a summary doesn’t grab their attention and convince them you’ve got a solid business plan, they may not read the rest of your plan.

With that in mind, it’s crucial to focus your summary on the main points of your plan and to keep it short. A couple of pages is a good target length.

Your executive summary should briefly cover:

• Your company’s mission statement
• A description of your company’s product or service
• Essential information about your leadership, employees and location
• Your company’s finances
• Your funding request

You may find it easier to outline your executive summary briefly and then write the rest of your business plan. You can then condense the detailed information from your plan into your executive summary to flesh it out.

2. Company Description

Your company description discusses:

• Your company’s mission
• What you do for your customers
• Who your target market is
• How you stand out from your competitors

You may find it easier to write this section after you’ve done your market research and developed a marketing and sales strategy.

3. Market Analysis

Your market analysis summarizes the results of your market research, covering items such as:

• The size and growth trends of your target market
• The composition and needs of your target demographic
• What your top competitors are doing
• How your company can gain a competitive advantage

Doing your homework when writing this section can help you persuade lenders that your business plan is viable. It can also help you make realistic revenue projections for developing your financial statements .

This section is a good place to include visual aids such as graphs and charts that illustrate the size of your market.

4. Organization and Management

This section covers information such as:

• The legal structure of your business ( sole proprietorship , partnership, LLC, S-corporation, or C-corporation)
• The organizational structure of your staff, which can include an organizational chart
• The backgrounds of your key personnel, which can include curriculum vitae or resumes
• Your operational plan, describing how you will run your business

5. Service or Product Line

This section addresses items such as:

• What products or services your company sells
• How your product or service benefits your customers
• Your product or service’s lifecycle (how your company will launch your product or service and grow market share)
• Intellectual property issues associated with your product (patents, copyrights)
• Research and development your company is doing related to your product or service

6. Marketing and Sales

Your marketing-and-sales section should convince lenders you have a viable plan to promote and sell your products or services. It covers topics such as:

• Your unique selling proposition (how you will position your brand to convince customers they should buy from you instead of a rival brand)
• What marketing channels you will use to promote your brand
• Your sales process

Writing this section can also help you estimate sales projections, which can be useful when creating your financial projections.

7. Funding Request

Your funding request formalizes what you’re asking for from prospective lenders, detailing key items such as:

• How much funding you need
• What type of funding you’re requesting (different business loan options , a line of credit or merchant cash advance)
• Your desired terms
• The amount of time your request covers
• What the funding will be used for
• How you intend to repay what you borrow

8. Financial Projections

This section gives lenders a picture of your company’s financial shape by summarizing items such as:

• Your company’s annual revenue, expenses and profits
• Your company’s balance of assets and liabilities
• Your company’s cash flow
• Your analysis of how long it will take your company to break even
• Relevant highlights of your personal finances, such as your net worth and credit score
• Collateral you could use to put up for a loan

Your company’s financials should be fleshed out in spreadsheets covering your key financial statements:

• Profit and loss (income) statement
• Balance sheet
• Cash flow statement

These statements and others you choose to use can be summarized in your business plan, with full details in attached spreadsheets.

9. Appendix

Your appendix includes any supporting documents that can help you make the case for your loan request, such as:

• Financial statements
• Credit histories
• Market research articles or links
• Marketing graphs and charts that go beyond the highlights included in your marketing section

Feel free to include any additional items that you think will impress lenders.

Preparing Your Plan for a Successful SBA Loan Application

Before using your business plan to apply for an SBA loan, you may find it helpful to have an expert review your plan and make suggestions on how to improve it. The SBA provides works in partnership with organizations such as SCORE to provide entrepreneurs with access to business mentors who can advise you on developing your business plan and applying for a loan. The SBA’s website includes an online tool to help you find local assistance from SCORE and other partner organizations in the agency’s network.

When you submit your plan with your loan application, lenders will typically check your personal credit score to evaluate your creditworthiness. You can improve the odds of your business plan succeeding by taking steps to improve your credit score before applying for a loan. A good place to start is by requesting a free copy of your credit report from AnnualCreditReport.com.

Using Your SBA Business Plan to Secure a Loan

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Start » startup, 5 business plan templates to help you plan for success.

Writing a business plan may not be the most exciting thing, but it is a crucial part of your business’s success. Here are 5 business plan templates to get you started.

Writing a business plan may not feel like the most exciting part of starting a business, but designing a solid plan is crucial for any company to succeed — especially if you plan to seek funding from an investor or a lender.

Fortunately, many organizations and online resources offer business plan templates to make this step as painless as possible. Here are five business plan templates you can use to get your startup off the ground, pivot your existing plan or attract new investors to your business.

For a comprehensive first-timer: U.S. Small Business Administration

The U.S. Small Business Administration (SBA) has a comprehensive tool that allows you to create a thorough, well-researched business plan. A helpful feature of this tool is that it allows you to edit your business plan as needed, so you don’t have to start from scratch every time you make a change.

The SBA’s business plan template is lengthy, which means you may not be able to tackle it all in one sitting. However, taking your time with this tool will encourage you to analyze every aspect of your business —an important step in helping your business reach its goals.

For a straightforward idea jogger: The $100 Startup

If you’re not seeking funding and don’t necessarily need a complicated template, The $100 Startup , named after the best-selling book, offers a one-page business plan template that you can complete in just a few minutes.

This template isn’t necessarily designed to win investors or lenders, but it will get your thoughts on paper and allow you to start executing your plan.

[Click here for more tips on writing your business plan .]

Writing a business plan usually happens during the startup phase, but if you didn’t create one — or simply haven’t updated yours since you launched — it’s not too late.

For a specific industry: LawDepot

LawDepot’s free business plan template has a simple, easy to use interface that guides you through every step of the process. It also allows you to select which industry you do business in, so each template is tailored to the specific needs of your operation.

While the business plan template is free to use, you have to sign up for a trial subscription to download your plan. However, you can cancel the subscription if you don’t plan on using the service afterwards.

For a law firm: Lexicata

As a law firm, marketing your services, building a website and other business-related essentials may seem out of reach as you balance the needs of your clients and jump from one case to another.

Designing a strong business plan will help you manage your business while serving the needs of your clients. Lexicata offers a free law firm business plan template that is broken into five primary sections, each of which guides you through everything you need to make a proper business plan and run a successful firm.

For an established business: SCORE

Writing a business plan usually happens during the startup phase, but if you didn’t create one — or simply haven’t updated yours since you launched — it’s not too late. Established businesses can create a business plan that aligns with their current goals, such as attracting investors, lenders, buyers or even new partners.

SCORE , a nonprofit organization devoted to helping entrepreneurs, business owners and small businesses succeed, has designed a free business plan template for established businesses that can help you align or pivot your company goals to your current needs.

CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.

CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here .

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How To Write SBA Business Plan With Free Template

A business plan is a vital document for any entrepreneur who wants to start or grow a small business. It outlines your vision, goals, strategies, market analysis, financial projections, and more. It helps you to organize your thoughts, identify potential challenges and opportunities, and communicate your vision to others. A well-written business plan can also help you secure funding from the Small Business Administration (SBA), which offers loans and grants to eligible small businesses. The SBA has specific requirements and standards for business plans, and you need to follow them carefully if you want to increase your chances of getting approved.

In this blog post, we will guide you through the steps of writing a SBA business plan with an example. We will cover the following topics:

SBA – what is it? & What is the purpose of the SBA business plan?

What are the main components of a SBA business plan?

How to write each section of a sba business plan with an example.

How to format and present your SBA business plan?

SBA Business Plan Template

Creating a business plan that meets the standards of the Small Business Administration (SBA) can be challenging, but not with our SBA Business Plan Template. This template is based on the best practices and guidelines of the SBA, and it will walk you through the key sections of a business plan, such as the executive summary, market analysis, competitive advantage, financial projections, and more. You can easily adapt the template to your specific industry, niche, and goals, and save yourself time and hassle in the process. Our SBA Business Plan Template is not just a document – it’s a tool that will help you secure funding, attract customers, and grow your business successfully. We have years of experience in helping small businesses achieve their dreams, and we are confident that our template will help you too.

SBA - what is it? and what is the purpose of the SBA business plan?

What is sba.

SBA stands for  Small Business Administration . It is an independent agency of the United States government that provides support to entrepreneurs and small businesses. The SBA is a valuable resource for small businesses. If you are starting or running a small business, the SBA can help you get the financing, counseling, and training you need to succeed.

The SBA offers a variety of programs and services, including:

Loans: The SBA guarantees loans made by banks and other lenders to small businesses. This can help small businesses get the financing they need to start or grow their business. Surety Bonds: The SBA provides surety bonds to small businesses that need them to bid on government contracts. This can help small businesses compete for government contracts that they might not otherwise be able to get. Consulting: The SBA offers counseling and training to small businesses on a variety of topics, such as business planning , marketing, and financial management. Government Contracting: The SBA helps small businesses get government contracts. The SBA has a set-aside program that reserves a certain percentage of government contracts for small businesses. Advocacy: The SBA advocates on behalf of small businesses in Washington, D.C. The SBA works to ensure that small businesses have a voice in the federal government.

Here are some of the benefits of SBA loans:

Low interest rates:   SBA loans  typically have lower interest rates than conventional loans. This can save you money on your monthly payments. Longer repayment terms: SBA loans typically have longer repayment terms than conventional loans. This can give you more time to pay back your loan. Guarantee: The SBA guarantees 75% of SBA loans. This means that the lender is only at risk for 25% of the loan amount. This makes it easier for small businesses to get approved for loans.

Learn how to write a  business plan for loan in just 7 simple steps

Purpose of sba business plan.

The purpose of an SBA business plan is to provide a roadmap for your business. It should outline your goals, strategies, and financial projections. The SBA business plan is a requirement for many SBA loans, but it can also be a valuable tool for any small business owner. If you are thinking about starting or running a small business, an SBA business plan is a valuable tool. It can help you to secure funding, guide your business, attract investors, improve your management skills, and track your progress.

Here are some of the specific purposes of an SBA business plan:

• To secure funding:  The SBA business plan is a key document that lenders will review when considering your loan application. It will help them to understand your business and its potential for success.
• To guide your business:  The SBA business plan can help you to stay focused on your goals and make informed decisions about your business. It can also help you to identify potential problems and develop solutions.
• To attract investors:  If you are looking to attract investors, an SBA business plan can be a valuable tool. It will help you to communicate your vision for your business and convince investors  that your business is a good investment.
• To improve your management skills:  The process of writing an SBA business plan can help you to improve your management skills. It will force you to think critically about your business and develop a plan for its success.
• To track your progress:  The SBA business plan can be used to track your progress and make adjustments as needed. It can also help you to identify areas where your business is doing well and areas where it needs improvement.

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The main components of an SBA business plan are:

• Executive summary:  This is a brief overview of your business, including its products or services, target market, and competitive advantages.
• Company description:  This section provides more detailed information about your business, such as its history, legal structure, and management team.
• Products and services:  This section describes the products or services that your business offers.
• Market analysis:  This section analyzes your target market, including its size, growth potential, and competitive landscape.
• Marketing plan:  This section outlines your strategies for reaching and acquiring customers.
• Operations plan:  This section describes how your business will be run on a day-to-day basis.
• Management team:  This section introduces your management team and their qualifications.
• Financial projections:  This section provides estimates of your business’s revenue, expenses, and cash flow.
• Appendix:  This section includes supporting documents, such as financial statements, marketing materials, and product samples.

The SBA does not have a set format for business plans, so you can tailor your plan to the specific requirements of the lender you are applying to. However, the SBA does recommend that all business plans include the following elements:

• A clear and concise overview of your business
• A realistic assessment of your market and competition
• A well-defined marketing plan
• A sound financial plan
• A strong management team

If you are applying for an SBA loan , it is important to carefully prepare your business plan. The SBA will review your plan carefully to assess the viability of your business and your chances of success.

Here are some additional tips for writing an SBA business plan:

• Be clear and concise. The SBA reviewers are busy people, so they don’t have time to read through long, rambling business plans.
• Be realistic. Don’t make unrealistic projections about your revenue or growth.
• Be specific. Don’t just say that you’re going to “market your product.” Explain exactly how you’re going to do it.
• Be persuasive. The goal of your business plan is to convince the SBA to lend you money. So make sure your plan is well-written and persuasive.

Access our 14 free sample business plans now!

A business plan is a document that describes your business idea, goals, strategies, and operations. It helps you communicate your vision to potential investors, lenders, partners, and customers. It also helps you plan and manage your business effectively.

The U.S. Small Business Administration (SBA) provides a standard business plan template that you can use to write your own plan. The template consists of eight major sections that cover the essential aspects of your business. Here is a brief overview of each section and an example of how to write it.

• Exective Summary
• Company Description
• Market Analysis
• Organization and Management
• Product or Service Description
• Marketing and Sales
• Funding Request
• Financial Projections

1. Exective Summary

This section summarizes the main points of your business plan in one or two pages. It should capture the reader’s attention and interest, and highlight your unique value proposition, target market, competitive advantage, financial projections, and funding needs. You should write this section last, after completing the rest of your plan.

XYZ Inc. is a software company that develops and sells cloud-based solutions for small and medium-sized businesses (SMBs). Our products help SMBs manage their accounting, invoicing, payroll, inventory, and customer relationship management (CRM) processes more efficiently and securely.

We have a proven track record of delivering high-quality software solutions to over 1,000 customers across various industries. We have a strong team of experienced developers, marketers, and customer support specialists who are passionate about solving our customers’ problems and providing them with exceptional service.

We are seeking $500,000 in debt financing from the SBA to expand our product portfolio, increase our marketing efforts, and hire more staff. We expect to generate $2 million in revenue and $500,000 in net income in the first year of operation, and grow at an annual rate of 25% for the next five years.

2. Company Description

This section provides detailed information about your company’s history, mission, vision, values, goals, objectives, legal structure, ownership, location, and facilities. It should also describe the problems your business solves, the customers you serve, and the competitive advantages that make your business stand out.

XYZ Inc. was founded in 2019 by John Smith and Jane Doe, two software engineers who saw a gap in the market for affordable and easy-to-use cloud-based solutions for SMBs. They started developing their first product, XYZ Accounting, in their garage, and launched it in 2020 after securing their first customer.

Our mission is to empower SMBs with innovative and reliable software solutions that help them streamline their business processes and grow their revenue. Our vision is to become the leading provider of cloud-based solutions for SMBs in the U.S. and beyond. Our values are excellence, innovation, customer satisfaction, integrity, and teamwork.

We are a Delaware corporation with 10% ownership by John Smith, 10% ownership by Jane Doe, and 80% ownership by XYZ Holdings LLC, a holding company owned by John Smith and Jane Doe. We operate from our headquarters in San Francisco, California, where we have a 5,000 square foot office space that accommodates our development, marketing, and customer support teams. How to write each section of a SBA business plan with an example?

3. Market Analysis

This section analyzes the industry, market, and competition for your business. It should provide data and evidence to support your market opportunity, customer needs, demand, trends, growth potential, and competitive landscape. It should also explain how you plan to enter, position, and differentiate your business in the market.

The cloud-based software market for SMBs is expected to grow at a compound annual growth rate (CAGR) of 15% from 2020 to 2025, reaching $50 billion in revenue by 2025, according to a report by Market Research Inc. The main drivers of this growth are the increasing adoption of cloud computing, the need for cost-effective and scalable solutions, and the demand for remote work and collaboration tools.

Our target market is SMBs in the U.S. that have between 10 and 500 employees and operate in various industries such as retail, manufacturing, healthcare, education, and professional services. We estimate that there are over 5 million SMBs in the U.S. that fit this criteria, and that they spend an average of $10,000 per year on software solutions.

Our main competitors are ABC Inc., DEF Inc., and GHI Inc., which offer similar cloud-based solutions for SMBs. However, we have several competitive advantages that set us apart from them:

– We offer a more comprehensive and integrated suite of products that cover all the essential business functions of SMBs. – We offer a more affordable and flexible pricing model that allows SMBs to pay only for what they use and scale up or down as needed. – We offer a more user-friendly and intuitive interface that makes our products easy to learn and use. – We offer a more personalized and responsive customer service that provides 24/7 support and training.

We plan to enter the market by leveraging our existing customer base, referrals, testimonials, and online reviews. We also plan to position our business as a one-stop shop for SMBs that need cloud-based solutions to run their businesses efficiently and securely. We also plan to differentiate our business by offering superior quality, value, innovation, and customer satisfaction.

4. Organization and Management

This section describes the organizational structure, management team, roles and responsibilities, qualifications, and compensation of your business. It should also include any advisors, consultants, board members, or key employees that are involved in your business. It should demonstrate how your team has the skills, experience, and expertise to execute your business plan successfully.

XYZ Inc. has a simple and flat organizational structure that consists of three main departments: development, marketing, and customer support. Each department is led by a manager who reports directly to the CEO. The CEO is also the co-founder and majority owner of the business.

Our management team consists of:

– John Smith: CEO and co-founder. John has over 10 years of experience in software development and management. He is responsible for overseeing the overall strategy, vision, and direction of the business.

– Jane Doe: CTO and co-founder. Jane has over 10 years of experience in software engineering and design. She is responsible for leading the development team and ensuring the quality and functionality of our products.

– Mark Lee: Marketing manager. Mark has over 5 years of experience in digital marketing and sales. He is responsible for leading the marketing team and executing the marketing strategy and campaigns.

– Lisa Kim: Customer support manager. Lisa has over 5 years of experience in customer service and training. She is responsible for leading the customer support team and providing excellent service and support to our customers.

We also have a board of advisors that consists of:

– Bob Jones: A seasoned entrepreneur and investor who has founded and sold several successful software companies.

– Mary Smith: A former SBA loan officer who has extensive knowledge and experience in financing small businesses.

– Tom Lee: A professor of computer science at Stanford University who is an expert in cloud computing and artificial intelligence.

Our key employees consist of:

– 10 software developers who are skilled in various programming languages, frameworks, and tools.

– 5 marketing specialists who are proficient in various digital marketing channels, techniques, and platforms.

– 5 customer support representatives who are trained in various software products, features, and issues. We compensate our employees with competitive salaries, bonuses, stock options, and benefits such as health insurance, retirement plans, and paid leave.

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5. product or services description.

This section describes the products or services that your business offers, and how they benefit your customers. It should also explain the features, functions, quality, design, development, production, delivery, installation, maintenance, and support of your products or services. It should also address any intellectual property rights, patents, trademarks, or licenses that your business owns or needs.

XYZ Inc. offers a suite of cloud-based software solutions for SMBs that help them manage their accounting, invoicing, payroll, inventory, and CRM processes more efficiently and securely. Our products are:

– XYZ Accounting: A software solution that helps SMBs track their income and expenses, create and send invoices, manage their taxes, and generate financial reports. – XYZ Payroll: A software solution that helps SMBs calculate and pay their employees’ salaries, wages, taxes, and benefits. – XYZ Inventory: A software solution that helps SMBs monitor and control their inventory levels, costs, and movements. – XYZ CRM: A software solution that helps SMBs manage their customer relationships, interactions, sales pipeline, and loyalty programs.

Our products have the following benefits for our customers:

– They save time and money by automating and streamlining their business processes. – They improve accuracy and compliance by reducing errors and risks. – They enhance security and reliability by protecting their data and ensuring their availability. – They increase productivity and profitability by optimizing their performance and growth.

Our products have the following features and functions:

– They are cloud-based, which means they can be accessed from any device, anywhere, and anytime. – They are integrated, which means they can share data and communicate with each other seamlessly. – They are customizable, which means they can be tailored to fit the specific needs and preferences of each customer. – They are scalable, which means they can handle any volume of transactions and users without compromising speed or quality.

Our products have the following quality standards:

– They are developed using the latest technologies and best practices in software engineering and design. – They are tested rigorously and regularly to ensure their functionality and compatibility. – They are updated frequently to incorporate new features and improvements.

Our products have the following development, production, delivery, Installation, maintenance, and support processes:

– We use an agile methodology to develop our products in short iterations based on customer feedback and market research. – We use a cloud service provider to host our products on secure servers that have high availability and performance. – We use a subscription-based model to deliver our products to our customers via the internet. – We provide online tutorials and manuals to help our customers install and use our products easily. – We provide 24/7 technical support via phone, email, chat, and social media to help our customers resolve any issues or questions they may have.

We own the intellectual property rights to our products, including the source code, design, logo, name, and domain. We have registered our trademark with the U.S. Patent and Trademark Office (USPTO) and obtained a patent for our unique algorithm that powers our products. We also have licenses from various third-party providers that we use to enhance our products’ functionality and security.

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6. marketing and sales.

This section outlines the marketing strategy and sales plan for your business. It should describe how you plan to reach, attract, and retain your target customers, and how you plan to promote, price, distribute, and sell your products or services. It should also include your sales forecasts, goals, and metrics.

Our marketing strategy is based on four main elements: segmentation, targeting, positioning, and differentiation. We segment our market based on the size, industry, location, and needs of our potential customers. We target SMBs in the U.S. that have between 10 and 500 employees and operate in various industries such as retail, manufacturing, healthcare, education, and professional services.

 We position our business as a one-stop shop for SMBs that need cloud-based solutions to run their businesses efficiently and securely. We differentiate our business by offering superior quality, value, innovation, and customer satisfaction. Our marketing mix consists of four main components: product, price, place, and promotion. 

Our product is a suite of cloud-based software solutions for SMBs that help them manage their accounting, invoicing, payroll, inventory, and CRM processes more efficiently and securely. Our price is based on a subscription-based model that allows SMBs to pay only for what they use and scale up or down as needed. Our place is online via our website where we showcase our products features, benefits, testimonials, and reviews. 

Our promotion consists of various digital marketing channels such as email marketing social media marketing search engine optimization (SEO) search engine marketing (SEM) content marketing influencer marketing referral marketing

Our sales plan consists of three main stages: lead generation lead conversion customer retention We generate leads by using various online platforms such as Google Ads Facebook Ads LinkedIn.

7. Funding Request

This section should describe how much funding you need and how you plan to use it. It should also include information about your current financial situation, such as your  cash flow  and balance sheet. You should also explain why you need the funding and how it will help your business grow. For example, if you’re looking to expand your product line or hire more staff, you might need additional funding to cover those costs.

We are seeking $500,000 in debt financing from the SBA to expand our product portfolio, increase our marketing efforts, and hire more staff.

8. Financial Projections

• This section should include financial statements such as income statements, balance sheets, and cash flow statements. It should also include a break-even analysis and a description of how you plan to finance your business. You should provide detailed projections for the next three to five years, including revenue, expenses, and profits. For example, if you’re seeking funding from investors or lenders, they will want to see your financial projections to determine the potential return on investment.

We expect to generate $2 million in revenue and $500,000 in net income in the first year of operation, and grow at an annual rate of 25% for the next five years. We will finance our business through a combination of debt financing and equity financing from investors.

How To Format And Present Your SBA Business Plan?

If you are planning to apply for a Small Business Administration (SBA) loan, you will need to prepare a business plan that meets the SBA’s requirements. A business plan is a document that describes your business’s goals, strategies, market, financial projections, and management team. It also shows how you will use the loan funds and how you will repay them.

A well-written business plan can help you convince lenders and investors that your business is viable and worth supporting. However, writing a business plan can be challenging, especially if you are not familiar with the format and content that the SBA expects. Here are some tips on how to format and present your SBA business plan:

– Follow the SBA’s recommended outline. The SBA provides a detailed outline of the sections and sub-sections that your business plan should include. You can find the outline on the SBA website or download a template from various online sources. The outline covers the following topics: executive summary, company description, market analysis, organization and management, service or product line, marketing and sales, funding request, financial projections, and appendix. – Use clear and concise language. Your business plan should be easy to read and understand by anyone who reviews it. Avoid using jargon, technical terms, or acronyms that may confuse your readers. Use simple sentences and paragraphs, and use bullet points, tables, charts, and graphs to illustrate your points. Use headings and sub-headings to organize your information and make it easy to scan. – Provide evidence and support for your claims. Your business plan should not be based on assumptions or guesses. You should provide factual data and analysis to back up your statements about your market, competitors, customers, industry trends, financial projections, and so on. You can use primary sources (such as surveys, interviews, or testimonials) or secondary sources (such as reports, articles, or statistics) to support your claims. Make sure to cite your sources properly and include them in the appendix. – Be realistic and honest. Your business plan should reflect the true state of your business and its potential. Do not exaggerate or overestimate your strengths, opportunities, or prospects. Do not underestimate or ignore your weaknesses, threats, or risks. Be honest about the challenges you face and how you plan to overcome them. Be realistic about the amount of money you need and how you will use it. Do not make promises or guarantees that you cannot keep. – Proofread and edit your business plan. Before you submit your business plan to the SBA or any other lender or investor, make sure to check it for errors and inconsistencies. Use a spell-checker and a grammar-checker tool to catch any typos or mistakes. Ask someone else to read your business plan and give you feedback. Make sure your business plan is complete, accurate, coherent, and professional.

Recommended: How To Write A Business Plan In Just 7 Simple Steps

Other SBA Business Plan Templates That Can Help You Prove a Loan With Your SBA Business Plan

• Coffee Shop Business Plan Template
• Snack Bar Business Plan Template
• Food Hall Business Plan Template
• Printing Shop Business Plan Template

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Top 10 Business-Plan Templates You Can Download Free

Why reinvent the wheel get free professional business plan templates at no cost..

Writing your business plan. Ughhhh.

It's definitely not the most exciting part of starting a business. In fact, if you're like a lot of entrepreneurs, you're probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding . Because that's the thing--your business plan is a pretty important.

Any funder worth his or her salt wants to see it right off the bat. Moreover though, a solid business plan is a living document that will continue to guide your efforts as your business grows. Recently, I shared 18 Mistakes That Kill Startups , an infographic created by Mark Vital over at Funders and Founders.

A lot of those mistakes (most of them, in fact) are the result of poor planning. Bad location, a marginal niche, having no specific user in mind, raising too much or too little money--all of these issues can be prevented or at least mitigated with good planning.

Creating your business plan is more than just getting your ideas down on paper for potential funders to see. It's an exploratory process in which you can evaluate your options, test your assumptions about your idea, and even discover new opportunities. It might even lead you to kill off aspects of your business before investing too much time or money in them.

That doesn't mean you have to bust out Word and start the plan from scratch. A template is great--you probably aren't doing anything that hasn't been done before, so it provides a proven structure for your plan. Pretty much everything on it can be customized. Check out these comprehensive business plan templates you can download for free to get you started:

1. Score's Business Plan Template for Startups

Score is an American nonprofit dedicated to helping entrepreneurs get their companies off the ground. Its template, available as a PDF or Word download, asks a whopping 150 questions and is generic enough to customize for most types of businesses. The Refining the Plan resource that comes with it is helpful, especially if this is your first crack at writing a business plan.

2. U.S. Small Business Administration Business Plan Engine

The SBA's template is available to fill out online and then download as a PDF. You can go back in and edit it as needed, so don't worry about having everything ready the first time you sit down to tackle it. Even broken into sections, it's a long document and a bit of a slog to get through, but it produces a professional-looking and useful business plan. This is particularly helpful if your idea isn't fully fleshed out and you know you have homework to do--it prompts you for information.

3. The $100 Startup's One-Page Business Plan

Who said a business plan has to be a long, complicated document? Some funders are going to want to see a lot of detail, but you can provide that in appendices. The $100 Startup, the website for the best-selling book of the same name, has a ton of stripped-down resources for entrepreneurs, including this super simplified business plan template.

4. LawDepot's WYSIWYG Business Plan Template

This one says you just have to answer a few simple questions and will be "done before you know it!" Don't believe it. A business plan should take time and a lot of homework, but if you've already done that, LawDepot's template is a decent choice. It walks you through getting started, marketing, product, competitive analysis, SWOT, and more, with a window below the input fields to show you the plan as you work away at it. You can download it free with a trial subscription, but you'll have to remember to cancel it within the week if you don't plan to continue using it.

Editor's Note: Looking for Business Loans for your company? If you would like information to help you choose the one that's right for you, use the questionnaire below to have our partner, BuyerZone, provide you with information for free:

5. sme toolkit business plan samples.

The SME Toolkit, jointly offered by IFC and IBM, offers a simple two-page outline of what should be included in your business plan to meet the minimum requirements of funders and tax authorities (in the U.S.). It contains 10 broad sections, including market analysis, management and organization, etc., with a one-paragraph explanation of each. A second download on the same page is an Excel file to help with your financial projections.

6. Office Online Templates Galore

Of course, Microsoft offers a ton of business plan templates for Office users (you can get birthday invitations while you're at it). If you'd rather do a business plan presentation than a Word doc, you can download one of Microsoft Office's half a dozen or so PowerPoint templates for just that purpose. You'll want to customize it with your company branding (you have your branding down, right?), but it's easier than starting from a blank PPT.

7. vFinance Inc. Business Plan Template and Guide

Global financial services firm vFinance offers a basic, 30-page business plan template to download from its website--one the company says has been downloaded more than a quarter of a million times. No, it won't be completely unique, but vFinance knows what it's doing and the template is pretty comprehensive. VFinance is the creator of the massive Venture Capital Directory and has tailored the plan to appeal to funders. If that's your goal, definitely check this one out.

8. Invoiceberry Templates for Word, Open Office, Excel, or PPT

U.K. online invoicing software brand Invoiceberry offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats. Each one also contains a marketing plan and executive summary template. There's a catch, though--the company asks you to take one of the following three actions before you can download the template: like it on Facebook, give it a +1 on Google+, or give it your email address. If you don't mind doing that, it's a good deal. Kudos to Invoiceberry for figuring out this effective lead-gen tactic too!

9. Santa Clara University's My Own Business Institute Plans

Santa Clara U's MOBI is an initiative of its Center for Entrepreneurship and Innovation at the Leavey School of Business. On the site, you can download each of the 15 business plan sections individually as Word documents, or grab all 15 together in one doc. There's a ton of other helpful resources as well, including guidelines for evaluating your potential sites, a list of key people to review your plan, and sample financial sheets.

10. RocketLawyer's Business Plan Templates by State

Like some of the others, you fill out RocketLawyer's form and download the business plan when you're done--but its template allows you to choose your state before getting started. These plans are tailored to meet your financing requirements in your state, which is a huge bonus for those seeking funding through banks. It's also heavily geared toward financing, making it a good choice if that's a priority for you.

Editorial Disclosure: Inc. writes about products and services in this and other articles. These articles are editorially independent - that means editors and reporters research and write on these products free of any influence of any marketing or sales departments. In other words, no one is telling our reporters or editors what to write or to include any particular positive or negative information about these products or services in the article. The article's content is entirely at the discretion of the reporter and editor. You will notice, however, that sometimes we include links to these products and services in the articles. When readers click on these links, and buy these products or services, Inc may be compensated. This e-commerce based advertising model - like every other ad on our article pages - has no impact on our editorial coverage. Reporters and editors don't add those links, nor will they manage them. This advertising model, like others you see on Inc, supports the independent journalism you find on this site.

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SBA Business Plan Template Essentials: The Complete Guide

Free Business Plan Template

Ayush Jalan

• December 12, 2023

10 Min Read

The very first thought of any entrepreneur before setting up a business is capital. And taking a loan to set up your business is a common way to do that. If done right, it can ensure a high ROI. It also provides you with the scope for the expansion of your business without compromising on your operational funds.

If you are a small business owner, you are in luck.

The Small Business Administration ( SBA ) is a U.S. government agency that provides assistance and guidance to small businesses by providing tools like business planners, training programs, and small business loans.

It also provides a professional business plan template exclusively to guide businesses while applying for a small business loan. To do so, we recommend having a strong sense of what your business is and does, along with a solid plan.

If your business plan is not effective and goal-appropriate, you might have trouble navigating an SBA template. Hence, while drafting a business plan it is crucial to have a clear vision of the goal you want to achieve through the plan.

In this article, we’ll see what an SBA business plan is and what it includes.

What Is an SBA Business Plan?

An SBA business plan is essentially the mapping of the objectives of your business with precise details of how you will execute them. It is a well-structured and detailed way to represent your business, its strategies, and operations. When applying for an SBA loan, having an SBA business plan is a requirement.

Creating your business plan using an SBA business plan template helps you stay on track and not deviate from the requirements of the loan. It shows lenders that you have complete knowledge about your business venture and instills trust.

Importance of an SBA Business Plan

Research shows that businesses that create and follow a plan are 16% more likely to succeed than those that don’t plan. Regardless of the type of business plan you choose, having a plan is always beneficial.

We recommend the SBA business plan for companies that are seeking a small business loan. The SBA business plan template is drafted exclusively to help entrepreneurs navigate their way through the whole process of the SBA loan.

It is designed to assist entrepreneurs to seek answers to tough questions before they start building their businesses. An SBA business plan helps you develop a strategic framework for running your business.

It propels you towards researching your market, identifying your competition, and analyzing all the possible methods of implementing your strategies. Now that you know what an SBA business plan is and its significance, it is time to dive into the understanding of its contents.

Let’s see what an SBA business plan template contains.

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SBA Business Plan Template

As with many traditional business plans, an SBA business plan also follows a similar format. The SBA business plan template contains nine major sections. These sections include the executive summary, company description, market analysis, organization, product description, marketing, funding request, and financial projections. Let’s try to understand each.

1. Executive Summary

An executive summary is simply an introduction to your SBA business plan. It should contain a brief abstract of your business plan. This section will include the noteworthy points of your plan for anyone to get a quick gist of your business and your strategies.

This section of your plan should contain the following aspects:

Introduce your Business:

Start your executive summary by briefly introducing your business to your readers.

• Target market: Mention your target customers to whom you are selling your product or service.
• The solution you offer: Explain how your product or service is the ideal solution for the problem your target customer base is facing. Business model: Your business model, at its core, is how you will generate sales and make profits.
• Market competition: Identify your potential competition in the market and mention them.
• Marketing and Sales Strategy: Describe how you will market your product and mention your sales channels.
• Financial projections: This is essentially a forecast of future expenses and revenues.
• Execution of your plan: Explain how you will implement your plan and strategize all your objectives.

2. Company Description

In this company overview section of your SBA business plan, you will describe what your company does and every detail about your company. It includes your target customers, your business partners, your competitors, and more.

Below are the major key points this section should include:

• Identity and objective: Mention your company’s identity and what your company does. You may also include your company’s ethics and values.
• Your company’s offerings: Define in detail what your company offers. Explain the product or service that you are selling.
• The problem you solve: Specify the problem you chose to solve to cater to the needs of your customers.
• Target customers: State which section of the people you have targeted. You should also mention your customers’ priorities and values.
• Your strengths: Include the advantages you have over your competition in the market. You can also list these companies’ names and mention how you are different from them.
• Partners: Mention your company’s business partners, partnership period, and how they contribute to the business.

3. Market Analysis

In this section, you write a detailed analysis of the market in which you’re going to set up your business. The following are the aspects you should include in your SBA business plan:

• Mention in detail what other companies in your industries are doing.
• Explain in detail the strengths and advantages of your competition
• Specify the market trends and themes that have occurred
• Examine the reasons that are responsible for the success of other companies in your industry.
• Figure out if you are capable enough to outrun your competition by doing what they are doing but in a better and more efficient way.
• Research if any of your competitors have strategic advantages like the ideal location, cheap procurement of raw materials, etc.

4. Organization and management

In this section, you will define the structure of your business. This will include the legal and organizational structure of your business, and the management practices you follow.

Legal structure

Here, you describe the legal structure of your business . Is it going to be a general or limited partnership, an LLC, a sole proprietorship, or be incorporated as a C or S corporation? Explain in complete detail how you will structure your business legally and how it will impact your business operations.

Organizational chart

Attach an organizational chart of the internal structure and hierarchy of your business. This will include roles, responsibilities, and relationships between individuals in the company.

5. Service or Product

Once you’re done with the above, you now give a complete description of the product or service you’re selling to your customers. The following are the key aspects that this section of your SBA business plan should have:

• Describe in detail the product or service you’re providing to your targeted customer base.
• Explain the pricing of your product. You should also mention all the costs that have contributed to the final price of the product.
• List down all the possible uses of your product and how your customers will benefit from it.
• Discuss the product life-cycle of your product. Explain in detail the four stages of a product life-cycle: Introduction, growth, maturity, and decline.
• Include a plan mentioning how you will handle the intellectual properties, copyright, and patent filings.
• Mention all or any research and developments you have regarding your business.

6. Marketing and Sales

Next, include your marketing strategies , sales channels, and the budget of both. Below is the important point that should be in this section:

• Write a detailed plan of how you will market your product to draw your customers
• Provide the details of the sales process and mention the sales channels you are choosing.
• Mention the details of your budget regarding marketing and sales of the product
• Discuss the goals of your marketing and sales strategies
• Review and address your pricing strategy as it affects your marketing and sales.

7. Funding request

The most prominent reason why entrepreneurs create an SBA business plan is to make lenders believe that they are a viable and reliable business venture. This section is simply for putting forward your funding requests . The following should be included in this section:

• Specify the amount of funding you will require for running your business for the next five years
• Explain in detail how you will use the funding that was provided
• Mention what type of funding are you looking for
• Add a detailed description of your future financial plans, which include repaying debts, managing the cash flow , budgeting expenses, etc.

8. Financial Projection

The purpose of financial projection is to make it possible for the reader to assess your company’s financial stability. It includes the current financial reports of your business and future projections.

It is focused to convince potential funders that your company is financially stable and solvent. The below information should be included in your SBA business plan:

• Attach income statements for the past three to five years
• Attach balance sheets of the past three to five years
• Attach cash flow statements for the past three to five years
• Mention the collaterals that you possess
• Projected income statements
• Projected balance sheets
• Projected cash flow statements
• Budgeted capital expenditures

The ideal way to represent future projections is by using monthly or quarterly projections in the first year and henceforth with annual projections. Explain how the projections and the information represented are relevant to your funding request. Consider the SBA loan rates and the guarantee fee while projecting your new payment amounts.

9.  Appendix

The Appendix is the last section of your SBA business plan. It contains all the additional documentation that is important to explain a specific aspect of your business. It could also include documents that are exclusive to a particular lender that may not fit into the predefined outline of a business plan .

Usually, the common information in an appendix includes:

• Credit history
• Product photos
• Letters of reference
• Licenses and permits
• Legal documents

Get Your Small Business Started with an SBA Template

Choosing the perfect business plan for your business can be tricky, especially while seeking lenders to set up your business. However, it is not difficult once you know what your lenders are looking for in your business plan.

Fortunately, an SBA business plan is apt and compatible with all the requirements of lenders. Create your SBA business plan now and start your journey toward building your business.

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About the Author

Ayush is a writer with an academic background in business and marketing. Being a tech-enthusiast, he likes to keep a sharp eye on the latest tech gadgets and innovations. When he's not working, you can find him writing poetry, gaming, playing the ukulele, catching up with friends, and indulging in creative philosophies.

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Original text

WASHINGTON, Aug. 20, 2024 –  To succeed in today’s fast-paced data-driven business environment, small business owners should use performance metrics and KPIs (key performance indicators) to guide decisions and sustain growth.  SCORE , a resource partner of the U.S. Small Business Administration (SBA) and mentors to America’s small businesses, encourages small business owners to quantify and track performance benchmarks in order to refine operations and facilitate growth.

Small business metrics can be both qualitative, meaning they are described using words, or quantitative, meaning they are framed as numbers. In some cases, the most specific KPIs and metrics for your business might be a combination of both types of data points.

What’s the purpose of this data?

Business metrics and KPIs allow you to measure how well your company is performing against set goals for different areas of your operations, and how you can adjust to exceed expectations. There are metrics available for measuring customer satisfaction, employee retention, and understanding what products are selling the fastest and from what channel.

There are also different ways to develop situational or highly specific KPIs to track cash flow, quality, gross profit, the long-term value of specific customer demographic groups, and many other things. Every area of your business from people to products and processes can be measured, tracked and optimized through the use of data analysis.

“Verify your key metrics by periodically tracking both individual and aggregate results,” recommends SCORE mentor Nabil Freij. “With individual and total metrics, you can identify meeting your revenue goals, see who needs help improving, and learn who is pushing boundaries and raising the bar.”

Sales performance KPIs

To start building a more data-centered organizational culture, you need to start measuring success and qualifying shortcomings. For many small business leadership teams, sales performance metrics are the most logical place to start when looking to build on current success and sustain growth into the future. These metrics could include gross profit, cash flow forecast, inventory turnover and more.

These different indicators can provide actionable insights into the choices your management team should make to optimize successful business outcomes. However, sales performance data is not everything and as your business matures, you will want to consider many other areas as well.

Human capital performance metrics

For many small businesses, one of the single most variable costs is connected to the expense of human capital, or the value of your employees to your business. To develop a better understanding of the costs associated with human capital expenditure, your business may want to track KPIs such as turnover rate and human capital return on investment (HCROI). 

Key logistics KPIs

Small businesses that are involved with e-commerce and are consistently working with shipping partners can benefit from using key performance indicators to evaluate success. Areas such as supply chain management, production, fulfillment and customer service all have metrics associated with them that your business should be tracking. These metrics can include freight cost per unit shipped, transit time to distance, and warehouse space.

Driving successful business outcomes

Measuring success is one of the most important ways for your business to optimize performance and consistently deliver better and more cost-effective operations. In today’s challenging business environment, the key to developing the agility needed to sustain success is found in harnessing the full power and potential of data-driven decision making.

Looking for more guidance?  Find a SCORE mentor who can help you decide what’s right for your business.

“SCORE is free – utilize your free resources because as a startup, it's hard to pinch all of those pennies,” said SCORE client Amber Sharp, CEO and owner of Claim Revolution. “They're remarkable and always there for you."

About SCORE:

Since 1964, SCORE has helped more than 17 million entrepreneurs start, grow or successfully exit a business. SCORE's 10,000 volunteers provide free, expert mentoring, resources and education in all 50 U.S. states and territories. Visit SCORE at  www.score.org .

Funded [in part] through a Cooperative Agreement with the U.S. Small Business Administration.

202-968-6428

[email protected]

Looking for a small business expert or owner for an upcoming media story? Email  [email protected] to request an interview source. 

Copyright © 2024 SCORE Association, SCORE.org

Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.