Free Business Plans

Free business plans can give you an idea of how to stucture your home business when you're starting out. However I recommend that you don't scrimp on this essential phase of your home business development. You can start with free business plans to get an idea of where you are going, but be sure to seek professional input on all phases of your business plan.

For small and home based businesses, you may be able to use free business plans or a low cost business plan template which will be sufficient to organize your business and give you a working plan.

Even the simplest free business plans require a great deal of careful thought and planning. Here is one example of free business plans which you can use as a business plan template. Your own business may require different types of information to be included here.

Free Business Plan Template
  • Introduction - Give a short summary of your business idea, including the type of financing that will be required.

  • Describe the what type of a business you are creating.

  • Describe what products or services your business will be offering, including your unique selling proposition. In other words, what makes your product or service special?

  • Describe who are your customers. How will you increase your market share? What is the potential demand for your product or service, and what is the future demand expected to be?

  • What are the advantages and drawbacks of your proposed business location?

  • Describe your competitors and what strengths and weaknesses your product or service has in relation to the competition.

  • Describe the strengths and weaknesses of your company's management.

  • Who are your employees? What are their abilities and limitations?

  • Outline your personnel and human resource training and hiring plans?

  • Will you need financing? How will you use financing to increase your sales and profitability?

  • Include a balance sheet, income statement, cash flow projection and any supporting documentation needed such as resumes, credit information, legal documents, leases, and so on.

As you can see from this business plan template, free business plans require a great deal of careful thought. You will need time to gather this information together. You probably will write and re-write several times, and we recommend that you get feedback from experienced business owners in your field to review your business plan.

Save Time and Money With Your Business Plan

Most free business plans which you create yourself will require a great deal of time and effort. There are some other options that will save you some time.

You can have a business plan written for you, it generally costs $500 or more. This may be worth it if you have a unique kind of business.

You can also purchase pre-written business plan templates. These are vastly superior to free business plans because they are tailored to exactly the kind of business you are starting. One service we like has the largest business plan database ever collected. See the bottom of this page for a sample of over 1,000 different kinds of business plan templates available. These will save you hours, weeks and perhaps month of research, compared to free business plans.