When it comes to writing a business plan for an existing business, you want to separate yourself from other small businesses. Potential investors will want to know about your company’s market share along with the company’s current financial state and future plans. All of these topics should be addressed in your plan, but each deserves its own attention.
Business plan for existing business
An existing business may use a business plan to:
Plan and organize the business.
Gain support from others in the company.
Plan for future growth.
An existing business that wants to expand may need to complete a business plan. This document can help you make decisions about how much capital you need and where it should come from. The following sections cover the basics of writing an effective business plan for an existing business.
The business plan for an existing business can be a powerful marketing and growth tool.
An existing business may use a business plan to:
Revise financial forecasts based on actual performance.
Set goals for future growth and profitability.
Identify new opportunities for increasing revenue and market share.
Manage cash flow and debt repayment through the life of the business plan.
A good business plan will help you stay focused on your long-term goals while meeting short-term objectives, such as paying expenses and covering payroll. It incorporates both financial information and operational details that show how the company’s objectives will be achieved.
The sample business plan for existing business template below is suitable for a company that has been in business for at least two years and has started to grow. It’s easy to use and will help you create a plan that suits your needs. Use our free sample template to help you get started, then personalise it with our online editor.
You can also download a printable PDF version of this sample business plan by clicking on the download button below.
The Sample Business Plan: Existing Business format is based on the following:
Company background, history and mission statement
Market analysis and research findings
Business description
Management team profile and summary of relevant experience and skills
Financial forecast (including key assumptions)
Marketing strategy (including sales forecast)
A business plan can help you get started in a new venture, or it can help you grow an existing business.
A business plan is a written description of your company’s goals, strategies and objectives. It includes details about the company’s products and/or services, financial forecasts and marketing plans. The point is to have a blueprint for everything that will make your business successful.
You need a business plan whether you’re starting a new venture or expanding an existing one. A well-written plan will help you stay on track, keep focused on your goals, anticipate problems that may arise in the future and evaluate potential opportunities as they arise.
Business Plans: What You Need to Know
Whether you’re starting up a new company or expanding an existing one, you’ll need a good plan to ensure success. A well-written business plan can help you stay on track, keep focused on your goals, anticipate problems that may arise in the future and evaluate potential opportunities as they arise.
A business plan is a written document that describes the goals and objectives of a business, as well as the strategies to achieve them. It provides a guide for the owner or manager of the business and investors, including banks and other financial institutions.
The plan is usually a narrative document that includes statements about the company’s mission statement, market analysis, and projected sales growth over time. It may also include financial statements such as balance sheets and income statements.
Business plans are often used by companies that have been in operation for some time, but they can also be very useful for startups or new ventures.
A free business plan template is a great way to get started on preparing your own business plan. You can use the template as a starting point, then customize it according to your own needs and goals.
An existing business may use a business plan to:
Reflect on how well the business has been doing over the past year, or in the future
Receive funding or loans from banks or other financial institutions
Help secure joint venture partners
Provide an overview of your company’s products and services for potential investors, lenders and other stakeholders
A business plan can be a great tool for small businesses, and it doesn’t have to be difficult or expensive. But it’s not just for startups. Even if you’ve been in business for years, a well-written business plan can help you keep your eye on the prize and stay focused on what matters most to your company’s success.
Here are some tips from the experts:
1. Know your audience. If you’re looking for funding, focus on investors and lenders who might be interested in your project or product. If you’re trying to sell a new idea to management, get specific about how it will improve the company’s bottom line. And if you’re just trying to keep track of where your business is going, write down who should read this plan and why they should care about its contents.
2. Set goals and priorities. A good plan includes both an overview of what you want out of life (goals) as well as an explanation of how you’ll get there (priorities). For example, if one goal is finding more customers so that sales increase by 20 percent over next year’s projected revenue, the priority might be hiring more salespeople or increasing marketing efforts so that more people know about the product or service being offered by your
A business plan is a document that provides a detailed description of your business and its financial goals. A well-written business plan will help you organize your thoughts, set realistic goals and measure your progress.
A good business plan should include these components:
Executive summary. This section is meant to be read quickly by busy people who may not have time to read the entire plan. It should summarize the key points of your company and the opportunities you see for growth.
Company description. This section includes information about your target market, competitors and other factors that affect your ability to succeed in the marketplace.
Marketing plan. This section includes your marketing strategy, including pricing and distribution plans, as well as customer service policies that will help differentiate your company from competitors’.
Operations plan. This section includes a description of how you intend to run your company day-to-day, including how employees will be hired, trained and managed; how products or services will be produced or delivered; what accounting systems you’ll use; and so forth.
A business plan can be written for any type of business, whether it’s a new startup or an existing business.
A plan is a road map to the future, so it’s important to have one in place to help guide you through all of your goals and objectives.
This planning tool will help you make better decisions about how your company will operate and grow. A good plan will also help you make better use of your time, money and resources as they relate to growth.
Business plans come in many shapes and sizes, but all share some basic components:
Executive summary: This section serves as an introduction to the rest of the document and provides a brief overview of your business idea and its goals. It should not be more than two pages long; if it is longer than that, then it needs more detail or needs to be split into separate sections.
Company description: A description of your company including its mission statement, history, key executives and any other relevant information such as company values or culture. This section should also include information about any previous experience the team members have working together on other projects.
Competitive analysis: An analysis of how your product or service compares with competitors in terms of features, pricing model, distribution channels (online vs offline), etc
The business plan is the foundation upon which your company is built. It is a written document that describes how you plan to develop and grow your startup.
The purpose of a business plan is to give you a clear picture of where you want to go with your business and how you will get there. It’s also a tool for communicating with investors, banks and other potential sources of capital.
A good plan will help you focus on what’s important for your business. It doesn’t have to be long or complicated; in fact, it should be easy to understand and easy to read.
The first step in creating an effective plan is knowing what it needs to include. Here are some common elements:
Executive summary – A brief overview of the entire plan (1-2 pages)
Market analysis – An assessment of the current market conditions (1-2 pages)
Operations analysis – A description of what makes up your company’s operations (1-2 pages)
Strategic initiatives – Descriptions of new opportunities or initiatives that could change the direction of the company (1-2 pages)
Financial projections – Projections of future cash flow and profitability.