Free Business Plan Templates – What Are the Advantages?

A great resource when starting up a new business is using a free business plan template. While professional business planning is available, it is much less expensive to use a prepared template.

The biggest challenge when starting a new business is creating a business plan.

You will need your plan to gain funding, to plan your management and to generally get your business started.

With a wide range of free business plan templates available online, be sure to search for one that suits your business. There is no point using a plan designed for an accountant’s firm when you are starting a fast food franchise.

Plans suitable for Windows users are available as MS Word documents and Excel spreadsheets. While Excel can be daunting if you are not familiar with it, plans on Excel are often very good to work with. Since Excel is one of the best spreadsheet programs out there it is well worth learning how to use it.

Once your free business plan template is downloaded, take your time to look it over so you understand it. Keep your business information handy so that you are not searching for it when you need to input information.

A sample template will cover all of the different areas in which you should prepare your business plan.

You will need to create a strategy and marketing plan. Then you must account for profit and loss. You will need a balance sheet and a cash flow statement. A cash balance graph clearly shows your financial status while operating ratios allow you to make good comparisons of your business efficiency. Finally you need an executive summary to tie it all together.

If you’ve never made a business plan it may seem impossible. Fortunately a template will walk you through the process.

While you can make adjustments as necessary, the sooner you start using your plan template, the more you will get to know how it works. As you adjust your ideas they will be reflected in the plan.

When your plan is complete you can use it to present your case to possible investors. If you can, get an experienced friend or business acquaintance to look it over first.

Your friend can point out any weak points and help you finalize everything. With a free business plan template you will easily be able to adjust your plan as necessary and get your business up and running.

Free Business Plan Writing Tips – The 4 Most Important Elements You Should Never Overlook

Every young entrepreneur is always on a lookout for a free business plan that can help him state his business goals well. Unfortunately, getting a free business plan is nigh impossible. No business consultancy firm will offer you its service for free and so you shouldn’t expect it. However, if you play a little smarter you might be able to figure how exactly you can get a free business plan for your business.

Usually, for entrepreneurs, writing down a plan is an abstruse task. Especially if you are a young entrepreneur, the task will intimidate you even more. So, how do you plan on getting yourself a free business plan?

To get you started, here are the four most important elements that you need to begin with. Once you have stated down these, it will get as easier as falling of the log!

Executive Summary:

First and the foremost, write down the executive summary relevant to your business. An executive summary will provide you a short and snappy synopsis of the business plan. Also, this executive summary will highlight the key points of your business. Your executive summary must be capable of conveying the scope of the market opportunity, profitability mode and the skills being consumed to the prospective investor. Don’t make it too detailed. A concise yet effective executive summary is the key to success.

Analysis of the industry:

This should be your second section which should highlight the industry you are targeting and its pros and cons. Remember, the trends in an industry are always changing. Therefore, you industry analysis must be current and up to date.

Analysis of the company:

In this section, you will write down about how your company can manage the ups and downs within the industry smoothly and garner profit. You also need to describe your company’s work flow, the organizational process and the particular services it will be offering and resources it will be consuming.

Analysis of the target market:

While analyzing the target market, you need to break it down into two segments; target customers and the level of competition. First off, start with talking about the customers you want to target and present their stats and demographics. If possible, present surveys pertaining to your industry as well. In the second segment, mention the current competition and the market trends. Whether it is a perfect market competition, monopolized competition or an imperfect competition, make sure you state and describe it in detail. Also state the strengths of your business in relation to the demands of the customers.

If you are looking for a free business plan then this is where you can start. These 4 points are the basics of every business plan. Follow the structure and you will have a free business plan of 10 – 20 pages easily within a day!

Free Business Plans

Free business plans are freely available online, however you need to make sure that you have some insider knowledge to ensure that you are following a business plan that is affordable and has a really good chance of making a full time living online.

I will introduce you to a couple of free business plans that when set up correctly can give you a residual income and a business that will always be in demand by millions of people.

These business plans have been tried and tested and are still making in excess of monthly six figure incomes for tens of thousands of people worldwide.

The first of these free business plans are in affiliate marketing, this is an extremely simple business to set up and the ongoing monthly costs are less than the price of a decent cup of coffee each day.

Affiliate marketing simply means promoting other people’s products online or through other traditional advertising marketplaces.

The cheapest way to advertise these products is through simple free advertising online through media such as Facebook, twitter, free online adverts, forums, article writing and blogs etc.

The secret is to find niche markets and some of the most profitable of these are in people’s health, helping people to make money, and people’s lifestyles.

An example of a niche markets in the health business could be the best diet for the over 50s. Another example could be the best way to cure psoriasis.

The list is almost endless and the more you think about it the more ideas you will come up with for niche markets that can bring you in residual incomes.

You do not need to have any expert knowledge on any of these subjects and products because they are all available in places such as click bank and commission Junction.

These are digital marketplaces that have thousands of digital knowledge products that you are free to promote. Any sales that are made through your promotions will automatically generate a commission income for you.

There are no customers to worry about, no deliveries to make and you do not have to deal with any returns. All of this is done automatically for you by the digital marketplaces that you use.

You can create highly profitable niche markets with any subject that you have knowledge of. This can be as simple as showing people magic tricks, to helping people become better at their chosen sport or hobby.

The second of these free business plans is Internet marketing. Internet marketing is similar to affiliate marketing and tends to be used more for promoting physical products, for example pet products, sporting goods, electrical and electronic goods etc.

One area to have a look at is wholesalers; here you can buy quality branded products in small batches which will make you a nice profit. However I still believe that specialist niche products achieve the best profits.

By searching the Internet you will often find that you can purchase very good specialist niche products in small numbers. This is a great way to sell high priced ticket items for a larger profit, this is because they are in demand specialised niche products.

By working with the right suppliers you may also be able to have the products delivered directly to your customer for a very small fee without your customer knowing the source of your purchase.

This is known as drop shipping and it is now a very widely used method of doing business. This way you retain the customers, and the wholesaler deals with dispatching the products, collecting the money and dealing with any returns or complaints.

Most free business plans have a few catches or clauses within them, so just be careful to never pay for anything up front and look at the small print before you sign up to anything that claims to be a free business plan.