Free Business Plan Template: What To Include for 2024 – Shopify

A good business plan is essential to successfully starting your business, and the easiest way to simplify the work of writing one is to start with a business plan template.

You’re already investing time and energy in refining your business model and planning your launch—there’s no need to reinvent the wheel when it comes to writing a business plan. Instead, to help build a complete and effective plan, lean on time-tested structures created by other entrepreneurs and startups. 

Ahead, learn what it takes to create a solid business plan, and download Shopify’s free business plan template to get started on your dream today. 

What this free business plan template includes

1. Executive summary
2. Company overview
3. Products or services offered
4. Market analysis
5. Marketing plan
6. Logistics and operations plan
7. Financial plan

This business plan outline is intended to help new business owners and entrepreneurs consider the full scope of running a business and identify functional areas they may not have considered.

That said, it may not include the specific details or structure preferred by a potential investor or lender. If your goal is to secure funding, check with your target organizations to see if they have business plan templates you can follow to maximize your chances of success.

Shopify’s free business plan template includes seven key elements typically found in the traditional business plan format:

1. Executive summary

This is a one-page summary of your plan, typically written after you’ve completed the rest of the plan. The description section of your executive summary will also cover your management team, business objectives and strategy, and other background information about the brand. 

2. Company overview

This section answers two fundamental questions: “Who are you?” and “What do you plan to do?” Answering these questions clarifies why your company exists, what sets it apart from others, and why it’s a good investment opportunity. This section will detail the reasons for your business’s existence, its goals, and its core values.

3. Products or services offered

In addition to detailing what you sell and the most important features of your products or services, this section also includes any plans for intellectual property, like patent filings or copyrights. If you do market research for new product lines, it will show up in this section of your business plan template.

4. Market analysis

This section includes everything from the estimated market size to your target market and competitive advantage. It also includes a competitive analysis of your industry to address competitors’ strengths and weaknesses. Market research is an important part of ensuring you have a viable idea.

5. Marketing plan

Explain how you intend to get the word out about your business and how you’ve determined your pricing strategy. Include information about your potential customers’ demographics, your sales plan, marketing metrics, and milestones for success.

6. Logistics and operations plan

This section covers everything that needs to happen to turn your raw materials into products and get them into the hands of your customers. Include relevant details about your logistics partners and manufacturers if you’re producing physical products, or your plan for maintaining your service operations.

7. Financial plan

It’s important to include a look at your financial data, including both revenue streams and expense projections. This section includes templates for three key financial statements: an income statement, a balance sheet, and a cash flow statement. You can also include whether or not you need a business loan and how much you’ll need.

Business plan examples

Planning is key to the financial success of any type of business, whether you’re a startup, non-profit, or corporation.

But what do financial projections look like on paper? How do you write an executive summary? What should your company description include? Business plan examples can help answer some of these questions and transform your business idea into an actionable plan.

Professional business plan example

Inside the template, you’ll find a sample business plan featuring a fictional ecommerce business. The sample is set up to help you get a sense of each section and understand how they apply to the planning and evaluation stages of a business plan. 

If you’re looking for funding, this example won’t be a complete or formal look at business plans, but it will give you a great place to start and notes about where to expand.

Lean business plan example

A lean business plan format is a shortened version of your more detailed business plan. It’s helpful when modifying your plan for a specific audience, like investors or new hires. 

Also known as a one-page business plan, it includes only the most important, need-to-know information, such as:

• Company description
• Suppliers
• Key members of your team
• Customer segments
• Marketing plan

💡 Tip: For a step-by-step guide to creating a lean business plan (including a sample business plan), read Shopify’s guide on how to create a lean business plan.

The benefits of writing a solid business plan

It’s tempting to dive right into execution when you’re excited about a new business or side project, but taking the time to write a thorough business plan and get your thoughts on paper allows you to do a number of beneficial things:

• Validation. Whether you’ve got one business idea or many, business plans can make an idea more tangible, helping you see if it’s truly viable and ensure you’ve found a target market. 
• Clarity. Whether your goal is to start a new business or scale an existing business to the next level, a business plan can help you understand what needs to happen and identify gaps to address.
• Focus. Writing a business plan can show you the actionable next steps to take on a big, abstract idea. It can also help you narrow your strategy and identify clear-cut tactics that will support it.
• Accurate scope. Without a concrete plan, cost overruns and delays are all but certain. A business plan can help you see the full scope of work to be done and adjust your investment of time and money accordingly.
• Persuasion tool. When you need buy-in from potential employees and business partners—especially in the early stages of your business—a clearly written business plan is one of the best tools at your disposal.

When you’re seeking financing for your business—whether from venture capital, financial institutions, or Shopify Capital—your business plan will let investors see the future of the business before deciding to invest.

Why you should you use a template for a business plan

A blank page can be intimidating to even the most seasoned writers. Using an established business planning process and template can help you get past the inertia of starting your business plan, and it allows you to skip the work of building an outline from scratch. You can always adjust a template to suit your needs.

If you’ve never sat through a business class, you might never have created a SWOT analysis or financial projections. Templates that offer guidance—in plain language—about how to fill in each section can help you navigate sometimes-daunting business jargon and create a complete and effective plan.

Tips for creating a successful business plan

There are some high-level strategic guidelines beyond the advice included in this free business plan template that can help you write an effective, complete plan:

Understand the audience for your plan

If you’re writing a business plan to get clarity on your ideas and your industry as a whole, you may not need to include the same level of detail or polish you would with a business plan you want to send to potential investors. Knowing who will read your plan will help you decide how much time to spend polishing it.

Know your goals

Understanding the goals of your plan can help you set the right scope. If your goal is to use the plan as a roadmap for growth, you may invest more time in the operations section than if your goal is to understand the competitive landscape of a new industry, in which case you might spend more time on the marketing plan.

Take it step by step

Writing a 10- to 15-page document can feel daunting, so try to tackle one section at a time. Select a couple of sections you feel most confident writing and start there; you can start on the next few sections once those are complete. Jot down bullet-point notes in each section before you start writing to organize your thoughts and streamline the writing process.