Free Financial Templates for a Business Plan

By Andy Marker | July 29, 2020

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In this article, we’ve rounded up expert-tested financial templates for your business plan, all of which are free to download in Excel, Google Sheets, and PDF formats.

Included on this page, you’ll find the essential financial statement templates, including income statement templates , cash flow statement templates , and balance sheet templates . Plus, we cover the key elements of the financial section of a business plan .

Financial Plan Templates

Download and prepare these financial plan templates to include in your business plan. Use historical data and future projections to produce an overview of the financial health of your organization to support your business plan and gain buy-in from stakeholders

Business Financial Plan Template

Business Financial Plan Template

Use this financial plan template to organize and prepare the financial section of your business plan. This customizable template has room to provide a financial overview, any important assumptions, key financial indicators and ratios, a break-even analysis, and pro forma financial statements to share key financial data with potential investors.

Download Financial Plan Template

Word | PDF | Smartsheet

Financial Plan Projections Template for Startups

Startup Financial Projections Template

This financial plan projections template comes as a set of pro forma templates designed to help startups. The template set includes a 12-month profit and loss statement, a balance sheet, and a cash flow statement for you to detail the current and projected financial position of a business.

‌ Download Startup Financial Projections Template

Excel | Smartsheet

Income Statement Templates for Business Plan

Also called profit and loss statements , these income statement templates will empower you to make critical business decisions by providing insight into your company, as well as illustrating the projected profitability associated with business activities. The numbers prepared in your income statement directly influence the cash flow and balance sheet forecasts.

Pro Forma Income Statement/Profit and Loss Sample

financial business plan sample

Use this pro forma income statement template to project income and expenses over a three-year time period. Pro forma income statements consider historical or market analysis data to calculate the estimated sales, cost of sales, profits, and more.

‌ Download Pro Forma Income Statement Sample - Excel

Small Business Profit and Loss Statement

Small Business Profit and Loss Template

Small businesses can use this simple profit and loss statement template to project income and expenses for a specific time period. Enter expected income, cost of goods sold, and business expenses, and the built-in formulas will automatically calculate the net income.

‌ Download Small Business Profit and Loss Template - Excel

3-Year Income Statement Template

3 Year Income Statement Template

Use this income statement template to calculate and assess the profit and loss generated by your business over three years. This template provides room to enter revenue and expenses associated with operating your business and allows you to track performance over time.

Download 3-Year Income Statement Template

For additional resources, including how to use profit and loss statements, visit “ Download Free Profit and Loss Templates .”

Cash Flow Statement Templates for Business Plan

Use these free cash flow statement templates to convey how efficiently your company manages the inflow and outflow of money. Use a cash flow statement to analyze the availability of liquid assets and your company’s ability to grow and sustain itself long term.

Simple Cash Flow Template

financial business plan sample

Use this basic cash flow template to compare your business cash flows against different time periods. Enter the beginning balance of cash on hand, and then detail itemized cash receipts, payments, costs of goods sold, and expenses. Once you enter those values, the built-in formulas will calculate total cash payments, net cash change, and the month ending cash position.

Download Simple Cash Flow Template

12-Month Cash Flow Forecast Template

financial business plan sample

Use this cash flow forecast template, also called a pro forma cash flow template, to track and compare expected and actual cash flow outcomes on a monthly and yearly basis. Enter the cash on hand at the beginning of each month, and then add the cash receipts (from customers, issuance of stock, and other operations). Finally, add the cash paid out (purchases made, wage expenses, and other cash outflow). Once you enter those values, the built-in formulas will calculate your cash position for each month with.

‌ Download 12-Month Cash Flow Forecast

3-Year Cash Flow Statement Template Set

3 Year Cash Flow Statement Template

Use this cash flow statement template set to analyze the amount of cash your company has compared to its expenses and liabilities. This template set contains a tab to create a monthly cash flow statement, a yearly cash flow statement, and a three-year cash flow statement to track cash flow for the operating, investing, and financing activities of your business.

Download 3-Year Cash Flow Statement Template

For additional information on managing your cash flow, including how to create a cash flow forecast, visit “ Free Cash Flow Statement Templates .”

Balance Sheet Templates for a Business Plan

Use these free balance sheet templates to convey the financial position of your business during a specific time period to potential investors and stakeholders.

Small Business Pro Forma Balance Sheet

financial business plan sample

Small businesses can use this pro forma balance sheet template to project account balances for assets, liabilities, and equity for a designated period. Established businesses can use this template (and its built-in formulas) to calculate key financial ratios, including working capital.

Download Pro Forma Balance Sheet Template

Monthly and Quarterly Balance Sheet Template

financial business plan sample

Use this balance sheet template to evaluate your company’s financial health on a monthly, quarterly, and annual basis. You can also use this template to project your financial position for a specified time in the future. Once you complete the balance sheet, you can compare and analyze your assets, liabilities, and equity on a quarter-over-quarter or year-over-year basis.

Download Monthly/Quarterly Balance Sheet Template - Excel

Yearly Balance Sheet Template

financial business plan sample

Use this balance sheet template to compare your company’s short and long-term assets, liabilities, and equity year-over-year. This template also provides calculations for common financial ratios with built-in formulas, so you can use it to evaluate account balances annually.

Download Yearly Balance Sheet Template - Excel

For more downloadable resources for a wide range of organizations, visit “ Free Balance Sheet Templates .”

Sales Forecast Templates for Business Plan

Sales projections are a fundamental part of a business plan, and should support all other components of your plan, including your market analysis, product offerings, and marketing plan . Use these sales forecast templates to estimate future sales, and ensure the numbers align with the sales numbers provided in your income statement.

Basic Sales Forecast Sample Template

Basic Sales Forecast Template

Use this basic forecast template to project the sales of a specific product. Gather historical and industry sales data to generate monthly and yearly estimates of the number of units sold and the price per unit. Then, the pre-built formulas will calculate percentages automatically. You’ll also find details about which months provide the highest sales percentage, and the percentage change in sales month-over-month. 

Download Basic Sales Forecast Sample Template

12-Month Sales Forecast Template for Multiple Products

financial business plan sample

Use this sales forecast template to project the future sales of a business across multiple products or services over the course of a year. Enter your estimated monthly sales, and the built-in formulas will calculate annual totals. There is also space to record and track year-over-year sales, so you can pinpoint sales trends.

Download 12-Month Sales Forecasting Template for Multiple Products

3-Year Sales Forecast Template for Multiple Products

3 Year Sales Forecast Template

Use this sales forecast template to estimate the monthly and yearly sales for multiple products over a three-year period. Enter the monthly units sold, unit costs, and unit price. Once you enter those values, built-in formulas will automatically calculate revenue, margin per unit, and gross profit. This template also provides bar charts and line graphs to visually display sales and gross profit year over year.

Download 3-Year Sales Forecast Template - Excel

For a wider selection of resources to project your sales, visit “ Free Sales Forecasting Templates .”

Break-Even Analysis Template for Business Plan

A break-even analysis will help you ascertain the point at which a business, product, or service will become profitable. This analysis uses a calculation to pinpoint the number of service or unit sales you need to make to cover costs and make a profit.

Break-Even Analysis Template

Break Even Analysis

Use this break-even analysis template to calculate the number of sales needed to become profitable. Enter the product's selling price at the top of the template, and then add the fixed and variable costs. Once you enter those values, the built-in formulas will calculate the total variable cost, the contribution margin, and break-even units and sales values.

Download Break-Even Analysis Template

For additional resources, visit, “ Free Financial Planning Templates .”

Business Budget Templates for Business Plan

These business budget templates will help you track costs (e.g., fixed and variable) and expenses (e.g., one-time and recurring) associated with starting and running a business. Having a detailed budget enables you to make sound strategic decisions, and should align with the expense values listed on your income statement.

Startup Budget Template

financial business plan sample

Use this startup budget template to track estimated and actual costs and expenses for various business categories, including administrative, marketing, labor, and other office costs. There is also room to provide funding estimates from investors, banks, and other sources to get a detailed view of the resources you need to start and operate your business.

Download Startup Budget Template

Small Business Budget Template

financial business plan sample

This business budget template is ideal for small businesses that want to record estimated revenue and expenditures on a monthly and yearly basis. This customizable template comes with a tab to list income, expenses, and a cash flow recording to track cash transactions and balances.

Download Small Business Budget Template

Professional Business Budget Template

financial business plan sample

Established organizations will appreciate this customizable business budget template, which  contains a separate tab to track projected business expenses, actual business expenses, variances, and an expense analysis. Once you enter projected and actual expenses, the built-in formulas will automatically calculate expense variances and populate the included visual charts. 

‌ Download Professional Business Budget Template

For additional resources to plan and track your business costs and expenses, visit “ Free Business Budget Templates for Any Company .”

Other Financial Templates for Business Plan

In this section, you’ll find additional financial templates that you may want to include as part of your larger business plan.

Startup Funding Requirements Template

Startup Funding Requirements Template

This simple startup funding requirements template is useful for startups and small businesses that require funding to get business off the ground. The numbers generated in this template should align with those in your financial projections, and should detail the allocation of acquired capital to various startup expenses.

Download Startup Funding Requirements Template - Excel

Personnel Plan Template

Personnel Plan Template

Use this customizable personnel plan template to map out the current and future staff needed to get — and keep — the business running. This information belongs in the personnel section of a business plan, and details the job title, amount of pay, and hiring timeline for each position. This template calculates the monthly and yearly expenses associated with each role using built-in formulas. Additionally, you can add an organizational chart to provide a visual overview of the company’s structure. 

Download Personnel Plan Template - Excel

Elements of the Financial Section of a Business Plan

Whether your organization is a startup, a small business, or an enterprise, the financial plan is the cornerstone of any business plan. The financial section should demonstrate the feasibility and profitability of your idea and should support all other aspects of the business plan. 

Below, you’ll find a quick overview of the components of a solid financial plan.

  • Financial Overview: This section provides a brief summary of the financial section, and includes key takeaways of the financial statements. If you prefer, you can also add a brief description of each statement in the respective statement’s section.
  • Key Assumptions: This component details the basis for your financial projections, including tax and interest rates, economic climate, and other critical, underlying factors.
  • Break-Even Analysis: This calculation helps establish the selling price of a product or service, and determines when a product or service should become profitable.
  • Pro Forma Income Statement: Also known as a profit and loss statement, this section details the sales, cost of sales, profitability, and other vital financial information to stakeholders.
  • Pro Forma Cash Flow Statement: This area outlines the projected cash inflows and outflows the business expects to generate from operating, financing, and investing activities during a specific timeframe.
  • Pro Forma Balance Sheet: This document conveys how your business plans to manage assets, including receivables and inventory.
  • Key Financial Indicators and Ratios: In this section, highlight key financial indicators and ratios extracted from financial statements that bankers, analysts, and investors can use to evaluate the financial health and position of your business.

Need help putting together the rest of your business plan? Check out our free simple business plan templates to get started. You can learn how to write a successful simple business plan  here . 

Visit this  free non-profit business plan template roundup  or download a  fill-in-the-blank business plan template  to make things easy. If you are looking for a business plan template by file type, visit our pages dedicated specifically to  Microsoft Excel ,  Microsoft Word , and  Adobe PDF  business plan templates. Read our articles offering  startup business plan templates  or  free 30-60-90-day business plan templates  to find more tailored options.

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How to Prepare a Financial Plan for Startup Business (w/ example)

Financial Statements Template

Free Financial Statements Template

Ajay Jagtap

  • December 7, 2023

13 Min Read

financial plan for startup business

If someone were to ask you about your business financials, could you give them a detailed answer?

Let’s say they ask—how do you allocate your operating expenses? What is your cash flow situation like? What is your exit strategy? And a series of similar other questions.

Instead of mumbling what to answer or shooting in the dark, as a founder, you must prepare yourself to answer this line of questioning—and creating a financial plan for your startup is the best way to do it.

A business plan’s financial plan section is no easy task—we get that.

But, you know what—this in-depth guide and financial plan example can make forecasting as simple as counting on your fingertips.

Ready to get started? Let’s begin by discussing startup financial planning.

What is Startup Financial Planning?

Startup financial planning, in simple terms, is a process of planning the financial aspects of a new business. It’s an integral part of a business plan and comprises its three major components: balance sheet, income statement, and cash-flow statement.

Apart from these statements, your financial section may also include revenue and sales forecasts, assets & liabilities, break-even analysis, and more. Your first financial plan may not be very detailed, but you can tweak and update it as your company grows.

Key Takeaways

  • Realistic assumptions, thorough research, and a clear understanding of the market are the key to reliable financial projections.
  • Cash flow projection, balance sheet, and income statement are three major components of a financial plan.
  • Preparing a financial plan is easier and faster when you use a financial planning tool.
  • Exploring “what-if” scenarios is an ideal method to understand the potential risks and opportunities involved in the business operations.

Why is Financial Planning Important to Your Startup?

Poor financial planning is one of the biggest reasons why most startups fail. In fact, a recent CNBC study reported that running out of cash was the reason behind 44% of startup failures in 2022.

A well-prepared financial plan provides a clear financial direction for your business, helps you set realistic financial objectives, create accurate forecasts, and shows your business is committed to its financial objectives.

It’s a key element of your business plan for winning potential investors. In fact, YC considered recent financial statements and projections to be critical elements of their Series A due diligence checklist .

Your financial plan demonstrates how your business manages expenses and generates revenue and helps them understand where your business stands today and in 5 years.

Makes sense why financial planning is important to your startup, doesn’t it? Let’s cut to the chase and discuss the key components of a startup’s financial plan.

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financial business plan sample

Key Components of a Startup Financial Plan

Whether creating a financial plan from scratch for a business venture or just modifying it for an existing one, here are the key components to consider including in your startup’s financial planning process.

Income Statement

An Income statement , also known as a profit-and-loss statement(P&L), shows your company’s income and expenditures. It also demonstrates how your business experienced any profit or loss over a given time.

Consider it as a snapshot of your business that shows the feasibility of your business idea. An income statement can be generated considering three scenarios: worst, expected, and best.

Your income or P&L statement must list the following:

  • Cost of goods or cost of sale
  • Gross margin
  • Operating expenses
  • Revenue streams
  • EBITDA (Earnings before interest, tax, depreciation , & amortization )

Established businesses can prepare annual income statements, whereas new businesses and startups should consider preparing monthly statements.

Cash flow Statement

A cash flow statement is one of the most critical financial statements for startups that summarize your business’s cash in-and-out flows over a given time.

This section provides details on the cash position of your business and its ability to meet monetary commitments on a timely basis.

Your cash flow projection consists of the following three components:

✅ Cash revenue projection: Here, you must enter each month’s estimated or expected sales figures.

✅ Cash disbursements: List expenditures that you expect to pay in cash for each month over one year.

✅ Cash flow reconciliation: Cash flow reconciliation is a process used to ensure the accuracy of cash flow projections. The adjusted amount is the cash flow balance carried over to the next month.

Furthermore, a company’s cash flow projections can be crucial while assessing liquidity, its ability to generate positive cash flows and pay off debts, and invest in growth initiatives.

Balance Sheet

Your balance sheet is a financial statement that reports your company’s assets, liabilities, and shareholder equity at a given time.

Consider it as a snapshot of what your business owns and owes, as well as the amount invested by the shareholders.

This statement consists of three parts: assets , liabilities, and the balance calculated by the difference between the first two. The final numbers on this sheet reflect the business owner’s equity or value.

Balance sheets follow the following accounting equation with assets on one side and liabilities plus Owner’s equity on the other:

Here is what’s the core purpose of having a balance-sheet:

  • Indicates the capital need of the business
  • It helps to identify the allocation of resources
  • It calculates the requirement of seed money you put up, and
  • How much finance is required?

Since it helps investors understand the condition of your business on a given date, it’s a financial statement you can’t miss out on.

Break-even Analysis

Break-even analysis is a startup or small business accounting practice used to determine when a company, product, or service will become profitable.

For instance, a break-even analysis could help you understand how many candles you need to sell to cover your warehousing and manufacturing costs and start making profits.

Remember, anything you sell beyond the break-even point will result in profit.

You must be aware of your fixed and variable costs to accurately determine your startup’s break-even point.

  • Fixed costs: fixed expenses that stay the same no matter what.
  • Variable costs: expenses that fluctuate over time depending on production or sales.

A break-even point helps you smartly price your goods or services, cover fixed costs, catch missing expenses, and set sales targets while helping investors gain confidence in your business. No brainer—why it’s a key component of your startup’s financial plan.

Having covered all the key elements of a financial plan, let’s discuss how you can create a financial plan for your startup.

How to Create a Financial Section of a Startup Business Plan?

1. determine your financial needs.

You can’t start financial planning without understanding your financial requirements, can you? Get your notepad or simply open a notion doc; it’s time for some critical thinking.

Start by assessing your current situation by—calculating your income, expenses , assets, and liabilities, what the startup costs are, how much you have against them, and how much financing you need.

Assessing your current financial situation and health will help determine how much capital you need for your startup and help plan fundraising activities and outreach.

Furthermore, determining financial needs helps prioritize operational activities and expenses, effectively allocate resources, and increase the viability and sustainability of a business in the long run.

Having learned to determine financial needs, let’s head straight to setting financial goals.

2. Define Your Financial Goals

Setting realistic financial goals is fundamental in preparing an effective financial plan. So, it would help to outline your long-term strategies and goals at the beginning of your financial planning process.

Let’s understand it this way—if you are a SaaS startup pursuing VC financing rounds, you may ask investors about what matters to them the most and prepare your financial plan accordingly.

However, a coffee shop owner seeking a business loan may need to create a plan that appeals to banks, not investors. At the same time, an internal financial plan designed to offer financial direction and resource allocation may not be the same as previous examples, seeing its different use case.

Feeling overwhelmed? Just define your financial goals—you’ll be fine.

You can start by identifying your business KPIs (key performance indicators); it would be an ideal starting point.

3. Choose the Right Financial Planning Tool

Let’s face it—preparing a financial plan using Excel is no joke. One would only use this method if they had all the time in the world.

Having the right financial planning software will simplify and speed up the process and guide you through creating accurate financial forecasts.

Many financial planning software and tools claim to be the ideal solution, but it’s you who will identify and choose a tool that is best for your financial planning needs.

financial business plan sample

Create a Financial Plan with Upmetrics in no time

Enter your Financial Assumptions, and we’ll calculate your monthly/quarterly and yearly financial projections.

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4. Make Assumptions Before Projecting Financials

Once you have a financial planning tool, you can move forward to the next step— making financial assumptions for your plan based on your company’s current performance and past financial records.

You’re just making predictions about your company’s financial future, so there’s no need to overthink or complicate the process.

You can gather your business’ historical financial data, market trends, and other relevant documents to help create a base for accurate financial projections.

After you have developed rough assumptions and a good understanding of your business finances, you can move forward to the next step—projecting financials.

5. Prepare Realistic Financial Projections

It’s a no-brainer—financial forecasting is the most critical yet challenging aspect of financial planning. However, it’s effortless if you’re using a financial planning software.

Upmetrics’ forecasting feature can help you project financials for up to 7 years. However, new startups usually consider planning for the next five years. Although it can be contradictory considering your financial goals and investor specifications.

Following are the two key aspects of your financial projections:

Revenue Projections

In simple terms, revenue projections help investors determine how much revenue your business plans to generate in years to come.

It generally involves conducting market research, determining pricing strategy , and cash flow analysis—which we’ve already discussed in the previous steps.

The following are the key components of an accurate revenue projection report:

  • Market analysis
  • Sales forecast
  • Pricing strategy
  • Growth assumptions
  • Seasonal variations

This is a critical section for pre-revenue startups, so ensure your projections accurately align with your startup’s financial model and revenue goals.

Expense Projections

Both revenue and expense projections are correlated to each other. As revenue forecasts projected revenue assumptions, expense projections will estimate expenses associated with operating your business.

Accurately estimating your expenses will help in effective cash flow analysis and proper resource allocation.

These are the most common costs to consider while projecting expenses:

  • Fixed costs
  • Variable costs
  • Employee costs or payroll expenses
  • Operational expenses
  • Marketing and advertising expenses
  • Emergency fund

Remember, realistic assumptions, thorough research, and a clear understanding of your market are the key to reliable financial projections.

6. Consider “What if” Scenarios

After you project your financials, it’s time to test your assumptions with what-if analysis, also known as sensitivity analysis.

Using what-if analysis with different scenarios while projecting your financials will increase transparency and help investors better understand your startup’s future with its best, expected, and worst-case scenarios.

Exploring “what-if” scenarios is the best way to better understand the potential risks and opportunities involved in business operations. This proactive exercise will help you make strategic decisions and necessary adjustments to your financial plan.

7. Build a Visual Report

If you’ve closely followed the steps leading to this, you know how to research for financial projections, create a financial plan, and test assumptions using “what-if” scenarios.

Now, we’ll prepare visual reports to present your numbers in a visually appealing and easily digestible format.

Don’t worry—it’s no extra effort. You’ve already made a visual report while creating your financial plan and forecasting financials.

Check the dashboard to see the visual presentation of your projections and reports, and use the necessary financial data, diagrams, and graphs in the final draft of your financial plan.

Here’s what Upmetrics’ dashboard looks like:

Upmetrics financial projections visual report

8. Monitor and Adjust Your Financial Plan

Even though it’s not a primary step in creating a good financial plan, it’s quite essential to regularly monitor and adjust your financial plan to ensure the assumptions you made are still relevant, and you are heading in the right direction.

There are multiple ways to monitor your financial plan.

For instance, you can compare your assumptions with actual results to ensure accurate projections based on metrics like new customers acquired and acquisition costs, net profit, and gross margin.

Consider making necessary adjustments if your assumptions are not resonating with actual numbers.

Also, keep an eye on whether the changes you’ve identified are having the desired effect by monitoring their implementation.

And that was the last step in our financial planning guide. However, it’s not the end. Have a look at this financial plan example.

Startup Financial Plan Example

Having learned about financial planning, let’s quickly discuss a coffee shop startup financial plan example prepared using Upmetrics.

Important Assumptions

  • The sales forecast is conservative and assumes a 5% increase in Year 2 and a 10% in Year 3.
  • The analysis accounts for economic seasonality – wherein some months revenues peak (such as holidays ) and wanes in slower months.
  • The analysis assumes the owner will not withdraw any salary till the 3rd year; at any time it is assumed that the owner’s withdrawal is available at his discretion.
  • Sales are cash basis – nonaccrual accounting
  • Moderate ramp- up in staff over the 5 years forecast
  • Barista salary in the forecast is $36,000 in 2023.
  • In general, most cafes have an 85% gross profit margin
  • In general, most cafes have a 3% net profit margin

Projected Balance Sheet

Projected Balance Sheet

Projected Cash-Flow Statement

Cash-Flow Statement

Projected Profit & Loss Statement

Profit & Loss Statement

Break Even Analysis

Break Even Analysis

Start Preparing Your Financial Plan

We covered everything about financial planning in this guide, didn’t we? Although it doesn’t fulfill our objective to the fullest—we want you to finish your financial plan.

Sounds like a tough job? We have an easy way out for you—Upmetrics’ financial forecasting feature. Simply enter your financial assumptions, and let it do the rest.

So what are you waiting for? Try Upmetrics and create your financial plan in a snap.

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Frequently Asked Questions

How often should i update my financial projections.

Well, there is no particular rule about it. However, reviewing and updating your financial plan once a year is considered an ideal practice as it ensures that the financial aspirations you started and the projections you made are still relevant.

How do I estimate startup costs accurately?

You can estimate your startup costs by identifying and factoring various one-time, recurring, and hidden expenses. However, using a financial forecasting tool like Upmetrics will ensure accurate costs while speeding up the process.

What financial ratios should startups pay attention to?

Here’s a list of financial ratios every startup owner should keep an eye on:

  • Net profit margin
  • Current ratio
  • Quick ratio
  • Working capital
  • Return on equity
  • Debt-to-equity ratio
  • Return on assets
  • Debt-to-asset ratio

What are the 3 different scenarios in scenario analysis?

As discussed earlier, Scenario analysis is the process of ascertaining and analyzing possible events that can occur in the future. Startups or businesses often consider analyzing these three scenarios:

  • base-case (expected) scenario
  • Worst-case scenario
  • best case scenario.

About the Author

financial business plan sample

Ajay is a SaaS writer and personal finance blogger who has been active in the space for over three years, writing about startups, business planning, budgeting, credit cards, and other topics related to personal finance. If not writing, he’s probably having a power nap. Read more

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How to Write the Financial Section of a Business Plan

Susan Ward wrote about small businesses for The Balance for 18 years. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.

financial business plan sample

Taking Stock of Expenses

The income statement, the cash flow projection, the balance sheet.

The financial section of your business plan determines whether or not your business idea is viable and will be the focus of any investors who may be attracted to your business idea. The financial section is composed of four financial statements: the income statement, the cash flow projection, the balance sheet, and the statement of shareholders' equity. It also should include a brief explanation and analysis of these four statements.

Think of your business expenses as two cost categories: your start-up expenses and your operating expenses. All the costs of getting your business up and running should be considered start-up expenses. These may include:

  • Business registration fees
  • Business licensing and permits
  • Starting inventory
  • Rent deposits
  • Down payments on a property
  • Down payments on equipment
  • Utility setup fees

Your own list will expand as soon as you start to itemize them.

Operating expenses are the costs of keeping your business running . Think of these as your monthly expenses. Your list of operating expenses may include:

  • Salaries (including your own)
  • Rent or mortgage payments
  • Telecommunication expenses
  • Raw materials
  • Distribution
  • Loan payments
  • Office supplies
  • Maintenance

Once you have listed all of your operating expenses, the total will reflect the monthly cost of operating your business. Multiply this number by six, and you have a six-month estimate of your operating expenses. Adding this amount to your total startup expenses list, and you have a ballpark figure for your complete start-up costs.

Now you can begin to put together your financial statements for your business plan starting with the income statement.

The income statement shows your revenues, expenses, and profit for a particular period—a snapshot of your business that shows whether or not your business is profitable. Subtract expenses from your revenue to determine your profit or loss.

While established businesses normally produce an income statement each fiscal quarter or once each fiscal year, for the purposes of the business plan, an income statement should be generated monthly for the first year.

Not all of the categories in this income statement will apply to your business. Eliminate those that do not apply, and add categories where necessary to adapt this template to your business.

If you have a product-based business, the revenue section of the income statement will look different. Revenue will be called sales, and you should account for any inventory.

The cash flow projection shows how cash is expected to flow in and out of your business. It is an important tool for cash flow management because it indicates when your expenditures are too high or if you might need a short-term investment to deal with a cash flow surplus. As part of your business plan, the cash flow projection will show how  much capital investment  your business idea needs.

For investors, the cash flow projection shows whether your business is a good credit risk and if there is enough cash on hand to make your business a good candidate for a line of credit, a  short-term loan , or a longer-term investment. You should include cash flow projections for each month over one year in the financial section of your business plan.

Do not confuse the cash flow projection with the cash flow statement. The cash flow statement shows the flow of cash in and out of your business. In other words, it describes the cash flow that has occurred in the past. The cash flow projection shows the cash that is anticipated to be generated or expended over a chosen period in the future.

There are three parts to the cash flow projection:

  • Cash revenues: Enter your estimated sales figures for each month. Only enter the sales that are collectible in cash during each month you are detailing.
  • Cash disbursements: Take the various expense categories from your ledger and list the cash expenditures you actually expect to pay for each month.
  • Reconciliation of cash revenues to cash disbursements: This section shows an opening balance, which is the carryover from the previous month's operations. The current month's revenues are added to this balance, the current month's disbursements are subtracted, and the adjusted cash flow balance is carried over to the next month.

The balance sheet reports your business's net worth at a particular point in time. It summarizes all the financial data about your business in three categories:

  • Assets :  Tangible objects of financial value that are owned by the company.
  • Liabilities: Debt owed to a creditor of the company.
  • Equity: The net difference when the  total liabilities  are subtracted from the total assets.

The relationship between these elements of financial data is expressed with the equation: Assets = Liabilities + Equity .

For your  business plan , you should create a pro forma balance sheet that summarizes the information in the income statement and cash flow projections. A business typically prepares a balance sheet once a year.

Once your balance sheet is complete, write a brief analysis for each of the three financial statements. The analysis should be short with highlights rather than in-depth analysis. The financial statements themselves should be placed in your business plan's appendices.

Financial Plan Sample For Small Business: Everything You Need to Know

A financial plan sample for small business is good to use when establishing your own financial plan for your new business. 3 min read updated on February 01, 2023

A financial plan sample for small business is good to use when establishing your own financial plan for your new business. The business plan is important and highly beneficial, as it can help you identify your short-term and long-term goals, along with what you are hoping to achieve as a small business owner during the lifetime of the business.

Such business plans will include the type of products you are offering, any services being offered, where you plan on operating, how you plan to have such products made, and more. Included in the financial plan will be a marketing strategy and how you expect to find new clients. It will also include how you plan on raising capital, whether you want to try to find outside investors or obtain lending from financial institutions. Even if you don’t need financial assistance in order to get your company up and running, it is still a good idea to draft a financial plan so you can get a better idea of how you expect to expand your business over the next few years .

Components of the Plan

The components of any business plan must be clear and concise. Most financial plans include 3 specific financial statements as follows :

  • Income statement
  • Cash flow statement
  • Balance sheet

You should utilize all three statements to come up with an analysis as to how your business is currently doing, what you expect to achieve in the coming year, and other long-term goals and visions for your company. Most business owners draft a 3-year and 5-year projection to ensure that proper projections are made to not only keep your company financially afloat, but also to expand and grow both financially and in size if so desired.

For example, in addition to increasing your profits, you might want to hire 10 new employees for your small business. If this is the case, then you will need to incorporate the additional costs and expenses associated with bringing on new employees. This doesn’t just include hourly or yearly salaries, but also workers compensation insurance, unemployment insurance, withholding taxes, and more.

Cash on Hand vs. Loans

When you look at your cash flow, you want to find out exactly how much cash you have on hand. In order to do this, you should conduct a current asset ratio as well as a quick asset ratio. The current asset ratio can be calculated by simply dividing your liabilities by your assets. This will give you a better idea of your overall financial performance. Such assets will include both short-term and long-term assets. Those short-term assets include accounts receivable that you expect to receive within the next year. Long-term assets, however, are those accounts receivable that you don’t expect to receive until some point in the future, but not within the next year. An example of a long-term asset could be an ongoing construction contract in which the contract calls for full payment upon completion, which isn’t expected to be complete for another two years.

While the current asset ratio is helpful, it might be even more helpful to conduct a calculation on the quick asset ratio. This is calculated by taking your equity and short-term assets divided by your liabilities. It properly identifies the amount of cash you have on hand. Most financial institutions look at such immediate cash numbers in determining whether or not your business is justified in receiving the loan.

With that said, banks generally offer various types of loans. Therefore, if you need financial assistance getting your company off the ground, you will want to think about what you actually need financial assistance for. Do you need a loan for creating a new business area? Or are you a brand new business owner wanting to formally establish your small business? Some startup expenses might include the following:

  • Registration fees
  • Business licensing/permits
  • Initial Lease payment on a rental property
  • Down payments on property being purchased
  • Equipment purchasing
  • Utility fees

However, you might also need financial assistance with some ongoing operating expenses, such as:

  • Salary payments to your employees
  • Rent or mortgage payments
  • Storage fees

If you need help learning more about a financial plan for your small business, you can post your legal need  on UpCounsel’s marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

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How to Craft the Financial Section of Business Plan (Hint: It’s All About the Numbers)

Writing a small business plan takes time and effort … especially when you have to dive into the numbers for the financial section. But, working on the financial section of business plan could lead to a big payoff for your business.

Read on to learn what is the financial section of a business plan, why it matters, and how to write one for your company.  

What is the financial section of business plan?

Generally, the financial section is one of the last sections in a business plan. It describes a business’s historical financial state (if applicable) and future financial projections. Businesses include supporting documents such as budgets and financial statements, as well as funding requests in this section of the plan.  

The financial part of the business plan introduces numbers. It comes after the executive summary, company description , market analysis, organization structure, product information, and marketing and sales strategies.

Businesses that are trying to get financing from lenders or investors use the financial section to make their case. This section also acts as a financial roadmap so you can budget for your business’s future income and expenses. 

Why it matters 

The financial section of the business plan is critical for moving beyond wordy aspirations and into hard data and the wonderful world of numbers. 

Through the financial section, you can:

  • Forecast your business’s future finances
  • Budget for expenses (e.g., startup costs)
  • Get financing from lenders or investors
  • Grow your business

describes how you can use the four ways to use the financial section of business plan

  • Growth : 64% of businesses with a business plan were able to grow their business, compared to 43% of businesses without a business plan.
  • Financing : 36% of businesses with a business plan secured a loan, compared to 18% of businesses without a plan.

So, if you want to possibly double your chances of securing a business loan, consider putting in a little time and effort into your business plan’s financial section. 

Writing your financial section

To write the financial section, you first need to gather some information. Keep in mind that the information you gather depends on whether you have historical financial information or if you’re a brand-new startup. 

Your financial section should detail:

  • Business expenses 

Financial projections

Financial statements, break-even point, funding requests, exit strategy, business expenses.

Whether you’ve been in business for one day or 10 years, you have expenses. These expenses might simply be startup costs for new businesses or fixed and variable costs for veteran businesses. 

Take a look at some common business expenses you may need to include in the financial section of business plan:

  • Licenses and permits
  • Cost of goods sold 
  • Rent or mortgage payments
  • Payroll costs (e.g., salaries and taxes)
  • Utilities 
  • Equipment 
  • Supplies 
  • Advertising 

Write down each type of expense and amount you currently have as well as expenses you predict you’ll have. Use a consistent time period (e.g., monthly costs). 

Indicate which expenses are fixed (unchanging month-to-month) and which are variable (subject to changes). 

How much do you anticipate earning from sales each month? 

If you operate an existing business, you can look at previous monthly revenue to make an educated estimate. Take factors into consideration, like seasonality and economic ups and downs, when basing projections on previous cash flow.

Coming up with your financial projections may be a bit trickier if you are a startup. After all, you have nothing to go off of. Come up with a reasonable monthly goal based on things like your industry, competitors, and the market. Hint : Look at your market analysis section of the business plan for guidance. 

A financial statement details your business’s finances. The three main types of financial statements are income statements, cash flow statements, and balance sheets.

Income statements summarize your business’s income and expenses during a period of time (e.g., a month). This document shows whether your business had a net profit or loss during that time period. 

Cash flow statements break down your business’s incoming and outgoing money. This document details whether your company has enough cash on hand to cover expenses.

The balance sheet summarizes your business’s assets, liabilities, and equity. Balance sheets help with debt management and business growth decisions. 

If you run a startup, you can create “pro forma financial statements,” which are statements based on projections.

If you’ve been in business for a bit, you should have financial statements in your records. You can include these in your business plan. And, include forecasted financial statements. 

financial business plan sample

You’re just in luck. Check out our FREE guide, Use Financial Statements to Assess the Health of Your Business , to learn more about the different types of financial statements for your business.

Potential investors want to know when your business will reach its break-even point. The break-even point is when your business’s sales equal its expenses. 

Estimate when your company will reach its break-even point and detail it in the financial section of business plan.

If you’re looking for financing, detail your funding request here. Include how much you are looking for, list ideal terms (e.g., 10-year loan or 15% equity), and how long your request will cover. 

Remember to discuss why you are requesting money and what you plan on using the money for (e.g., equipment). 

Back up your funding request by emphasizing your financial projections. 

Last but not least, your financial section should also discuss your business’s exit strategy. An exit strategy is a plan that outlines what you’ll do if you need to sell or close your business, retire, etc. 

Investors and lenders want to know how their investment or loan is protected if your business doesn’t make it. The exit strategy does just that. It explains how your business will make ends meet even if it doesn’t make it. 

When you’re working on the financial section of business plan, take advantage of your accounting records to make things easier on yourself. For organized books, try Patriot’s online accounting software . Get your free trial now!

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Bakery Business Plan PDF Example

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  • February 23, 2024
  • Business Plan

Business plan template for a bakery

Creating a comprehensive business plan is crucial for launching and running a successful bakery. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your therapy bakery’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a bakery business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the food&beverage industry, this guide, complete with a business plan example, lays the groundwork for turning your bakery concept into reality. Let’s dive in!

Our bakery business plan is designed to encompass all crucial elements required for a thorough strategic approach. It details the bakery’s operations, marketing strategy, market environment, competitors, management team, and financial projections, ensuring a holistic view of the business’s path to success.

  • Executive Summary: Offers an overview of your bakery’s business idea, market research, management team, and financial plans.
  • Bakery & Location: Describes your bakery’s layout, features, and why its location is perfect for customers.
  • Operations: Outlines daily bakery operations, including baking schedules, staffing, and ingredient sourcing.
  • Key Stats: Provides figures on the size and growth of the bakery market.
  • Key Trends: Points out new trends in the bakery industry, such as the rise in health-conscious and specialty products.
  • Key Competitors: Discusses major nearby bakeries and how your bakery offers something different.
  • SWOT: Analyzes strengths, weaknesses, opportunities, and threats related to your bakery.
  • Marketing Plan: Outlines methods for promoting your bakery and keeping customers coming back.
  • Timeline: Lists important goals and milestones from the beginning through the first year.
  • Management: Shares info on who runs the bakery and their responsibilities.
  • Financial Plan: Forecasts the bakery’s financial outlook over 5 years, including income, profit margins, and main expenses.

Business plan template

Bakery Business Plan

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your bakery’s business plan, offering a concise overview of your bakery and its offerings. It should detail your market positioning, the range of baked goods and confectionery items you offer, its location, size, and an outline of day-to-day operations.

This section should also explore how your bakery will integrate into the local market, including the number of direct competitors within the area, identifying who they are, along with your bakery’s unique selling points that differentiate it from these competitors. These could include special dietary options like gluten-free or vegan products, artisanal or locally sourced ingredients, or a particular specialty in certain types of baked goods.

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the bakery’s success. This could involve their culinary expertise, business management experience, or community relations. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your bakery’s financial plan.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Bakery Business Plan executive summary1

Dive deeper into Executive Summary

Business Overview

For a Bakery, the Business Overview section can be concisely divided into 2 main slides:

Bakery & Location

Briefly describe the bakery’s physical environment, emphasizing its design, warmth, and the inviting atmosphere that welcomes customers. Mention the bakery’s location, highlighting its accessibility and the convenience it offers to customers, such as proximity to community centers, schools, or ease of parking.

Explain why this location is advantageous in attracting your target clientele, which might include local residents, businesses looking for catering options, or foot traffic from nearby shopping areas.

Detail the range of baked goods and products offered, from bread and pastries to custom cakes and specialty items. Outline your operational strategy, including sourcing of ingredients, baking schedules to ensure freshness, and any unique services such as custom orders or catering.

Discuss your pricing strategy, ensuring it reflects the quality of ingredients and craftsmanship involved and matches the market you’re targeting. Highlight any special offerings, loyalty programs, or community events that provide added value to your customers, encouraging repeat visits and customer loyalty.

Make sure to cover here _ Bakery & Location _ Operations

Business Plan_Bakery location

Market Overview

Industry size & growth.

In the Market Overview of your bakery business plan, begin by assessing the size of the bakery industry and its potential for growth. This evaluation is essential for grasping the market’s extent and pinpointing opportunities for expansion.

Analyze factors such as the increasing demand for baked goods, both traditional and innovative, and how consumer preferences are shaping the industry.

Key market trends

Continue by discussing recent market trends that are influencing consumer behavior and preferences in the bakery sector. This might include a growing interest in artisanal and craft baked products, the surge in popularity of gluten-free and vegan options, and the integration of international flavors and ingredients into traditional bakery products.

Highlight the demand for high-quality, fresh, and specialty baked goods that cater to diverse dietary needs and cultural tastes, as well as the trend towards more health-conscious and sustainable baking practices.

Key competitors

Next, examine the competitive landscape, which encompasses a variety of bakeries from luxury patisseries to affordable local bakeries, as well as the rise of home baking and online bakery businesses.

Focus on what sets your bakery apart, whether it’s through unparalleled customer service, a distinctive selection of baked goods, or expertise in a particular baking style or dietary niche.

Make sure to cover here _ Industry size & growth _ Key competitors _ Key market trends

Bakery Business Plan market overview

Dive deeper into Key competitors

First, conduct a SWOT analysis for the bakery , highlighting Strengths (such as artisanal baking skills and a unique range of products), Weaknesses (including potentially high ingredient costs or stiff competition), Opportunities (for example, a growing interest in specialty and health-conscious baked goods), and Threats (such as fluctuations in raw material prices or changes in consumer spending due to economic conditions).

Marketing Plan

Next, formulate a marketing plan that details strategies for attracting and retaining customers through targeted advertising, seasonal promotions, a compelling social media presence, and engagement with the local community. Consider loyalty programs, baking workshops, and collaborations with local businesses as part of your promotional activities.

Finally, establish a detailed timeline that marks key milestones for the bakery’s launch, marketing initiatives, customer base development, and potential expansion goals. This timeline should guide the business towards achieving its objectives with precision and clarity, ensuring systematic progress in a competitive market.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Bakery Business Plan strategy

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the bakery’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the bakery towards its financial and operational goals.

For your bakery business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Bakery Business Plan management1

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your bakery’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your bakery business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

Bakery Business Plan financial plan

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Sample Financial Advisor Business Plan

financial advisor business plan

Writing a business plan is a crucial step in starting a financial advisor business. Not only does it provide structure and guidance for the future, but it also helps to create funding opportunities and attract potential investors. For aspiring financial advisors, having access to a sample financial advisor business plan can be especially helpful in providing direction and gaining insight into how to draft their own financial advisor business plan.

Download our Ultimate Financial Advisor Business Plan Template

Having a thorough business plan in place is critical for any successful financial advisor venture. It will serve as the foundation for your operations, setting out the goals and objectives that will help guide your decisions and actions. A well-written business plan can give you clarity on realistic financial projections and help you secure financing from lenders or investors. A financial advisor business plan example can be a great resource to draw upon when creating your own plan, making sure that all the key components are included in your document.

The financial advisor business plan sample below will give you an idea of what one should look like. It is not as comprehensive and successful in raising capital for your financial advisor as Growthink’s Ultimate Financial Advisor Business Plan Template , but it can help you write a financial advisor business plan of your own.

Example – WealthWise Planning

Table of contents, executive summary, company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

At WealthWise Planning, we are a new Financial Advisor based in Detroit, MI, dedicated to filling a significant gap in the local market by providing high-quality financial advice and services. Our offerings include Financial Planning, Investment Management, Retirement Planning, Estate Planning, and Tax Advisory, all tailored to meet the unique financial goals and situations of our clients. Our holistic approach ensures comprehensive care for our clients’ financial health, guiding them towards financial security and prosperity. Strategically located in the heart of Detroit, our deep understanding of the local economic environment positions us as the go-to financial advisor in the area.

We are uniquely positioned for success, thanks to the invaluable experience of our founder in running a successful financial advisory business, and our commitment to offering superior financial planning services. Our team’s expertise and dedication to client well-being are at the core of our operations. Since our founding on January 5, 2024, we have achieved significant milestones, including designing our logo, developing our company name, and securing an excellent location for our operations. These accomplishments demonstrate our dedication to becoming the leading financial advisor in Detroit, MI.

The Financial Advisor industry in the United States, with a market size of over $66 billion in 2020 and an average annual growth rate of 5.7% over the past decade, is poised for continued expansion. With a projected market size of over $80 billion by 2025, driven by an aging population, increased financial market complexity, and the rise of digital financial advice platforms, the industry’s future looks promising. WealthWise Planning, serving Detroit, MI, is well-placed to capitalize on these trends by offering tailored financial solutions and personalized advice, aiming to establish itself as a trusted partner for individuals seeking to achieve their financial goals.

WealthWise Planning targets a diverse customer base in Detroit, MI, including young professionals, retirees, small business owners, and families. Our services are designed to address the unique financial needs of these groups, from managing burgeoning finances and preserving wealth to navigating business growth and securing financial futures for families. By providing personalized financial advice and planning strategies, we aim to become a trusted advisor for long-term financial well-being in our community.

WealthWise Planning’s main competitors include Zhang Financial, known for its wealth management and transparent fee structure; Bloom Advisors, which offers personalized financial planning; and Peak Wealth Management, specializing in wealth management and estate planning. Our competitive advantage lies in our personalized approach to financial planning and our commitment to leveraging the latest technology to enhance service delivery and client experience. This, combined with our dedication to client satisfaction, positions WealthWise Planning as a leader in the financial advisory landscape.

WealthWise Planning offers a suite of financial services designed to cater to various needs, with transparent pricing and a client-centric approach. Our comprehensive services include Financial Planning, Investment Management, Retirement Planning, Estate Planning, and Tax Advisory. Our promotional strategy encompasses online marketing, SEO, PPC advertising, social media marketing, email marketing, community outreach, networking, and leveraging client testimonials. By utilizing a multifaceted promotional approach, we aim to stand out in Detroit, MI, and build a solid client base, ensuring we reach potential clients effectively and build lasting relationships.

To ensure WealthWise Planning’s success, our key operational processes include detailed CRM activities, comprehensive financial analysis and planning, market research, compliance and regulatory reporting, professional development, client portfolio management, client meetings and reviews, operational efficiency improvements, risk management, and targeted marketing for client acquisition. Upcoming milestones include launching our business, developing a comprehensive marketing strategy, building a robust client onboarding process, establishing strategic partnerships, hiring additional staff, implementing advanced financial planning tools, and achieving specific revenue targets. These efforts will establish us as a successful, reputable financial advisor in Detroit, MI.

Under the leadership of Aiden Scott, our President, WealthWise Planning boasts a management team with the experience and expertise necessary for success. Scott’s background in financial advisory services, strategic foresight, and leadership skills, along with his deep understanding of the financial industry, are instrumental in guiding our company towards its goals. His expertise ensures that WealthWise Planning remains at the forefront of delivering exceptional financial advisory services.

WealthWise Planning is a new Financial Advisor serving customers in Detroit, MI. As a local financial advisor, we understand the financial landscape and challenges that our community faces. Currently, there are no high-quality local financial advisors in the area, which positions us to fill a significant gap in the market and serve our community with unparalleled financial services.

At WealthWise Planning, our offerings are designed to cater to a broad spectrum of financial needs. Our products and services include Financial Planning, Investment Management, Retirement Planning, Estate Planning, and Tax Advisory. These services are tailored to meet the unique financial goals and situations of our clients in Detroit, MI. Our holistic approach ensures that every aspect of our clients’ financial health is addressed, setting them on a path to financial security and prosperity.

Located in the heart of Detroit, MI, WealthWise Planning is strategically positioned to serve our local community. Our deep understanding of the local economic environment enhances our ability to provide targeted and effective financial advice, making us the go-to financial advisor in Detroit.

WealthWise Planning is uniquely qualified to succeed for several reasons. Our founder brings invaluable experience from previously running a successful financial advisor business. This experience, combined with our commitment to offering better financial planning services than our competition, sets us apart and ensures our success. Our team’s expertise and dedication to our clients’ financial well-being are at the core of everything we do.

Founded on 2024-01-05, WealthWise Planning has quickly made strides in establishing itself as a trusted financial advisor. We are a Limited Liability Company, which reflects our professionalism and commitment to operating with the highest standards of integrity and transparency. To date, our accomplishments include designing our logo, developing our company name, and finding a great location for our operations. These steps mark the beginning of our journey to becoming the leading financial advisor in Detroit, MI, and a testament to our dedication to serving our community.

The Financial Advisor industry in the United States is a booming sector, with a market size of over $66 billion in 2020. This industry has been steadily growing over the past decade, with an average annual growth rate of 5.7%. The increasing demand for financial advice and services, coupled with the growing number of individuals seeking help with their investments, has contributed to the expansion of this market.

Looking ahead, the Financial Advisor industry is expected to continue its growth trajectory, with market analysts projecting a market size of over $80 billion by 2025. This anticipated growth is driven by several factors, including an aging population seeking retirement planning services, increased complexity in financial markets, and the rise of digital platforms offering financial advice. As more individuals recognize the importance of professional financial guidance, the market for Financial Advisors is poised for further expansion.

These trends in the Financial Advisor industry bode well for WealthWise Planning, a new Financial Advisor serving customers in Detroit, MI. With the increasing demand for financial advice and services, WealthWise Planning has a significant opportunity to carve out a niche in this growing market. By providing tailored financial solutions and personalized advice to clients, WealthWise Planning can capitalize on the expanding market and establish itself as a trusted partner for individuals seeking to achieve their financial goals.

Below is a description of our target customers and their core needs.

Target Customers

Local residents will form the primary customer base for WealthWise Planning. This demographic is diverse, encompassing young professionals eager to manage their burgeoning finances and retirees focused on preserving their wealth. WealthWise Planning will tailor its services to meet the unique needs of these local individuals, providing personalized financial advice and planning strategies.

Small business owners in Detroit are another significant segment that WealthWise Planning will target. These entrepreneurs require specialized financial guidance to navigate the complexities of business growth, tax planning, and asset management. WealthWise Planning will offer custom solutions that address the specific challenges faced by these business owners, helping them to achieve financial stability and growth.

In addition to these groups, WealthWise Planning will also cater to families seeking to secure their financial future. These services will include college savings plans, retirement planning, and wealth transfer strategies. By addressing the financial concerns that are most relevant to families in Detroit, WealthWise Planning will establish itself as a trusted advisor for long-term financial well-being.

Customer Needs

WealthWise Planning offers high-quality financial advisory services that cater to the diverse needs of residents seeking to enhance their financial well-being. Customers can expect personalized financial strategies that align with their goals, whether they’re saving for a home, investing for retirement, or managing debt. This level of customization ensures that every financial plan is as unique as the individual’s circumstances, addressing a crucial need for tailored financial guidance.

In addition to personalized financial planning, WealthWise Planning understands the importance of financial education and empowerment. Customers have access to resources and tools that help demystify complex financial concepts and decisions. This empowers them to make informed choices about their financial futures, fostering a sense of confidence and control over their financial destiny.

Furthermore, WealthWise Planning prioritizes accessibility and convenience, recognizing that time is a valuable asset for its customers. By offering flexible consultation schedules and leveraging technology for virtual meetings, clients can easily integrate financial planning into their busy lives. This approach addresses the need for professional financial advice that is both accessible and adaptable to the modern lifestyle of Detroit residents.

WealthWise Planning’s competitors include the following companies.

Zhang Financial

Zhang Financial offers a wide range of services including wealth management, financial planning, and investment advisory services. They cater to high-net-worth individuals and families, providing bespoke solutions tailored to their clients’ unique financial situations. Their price points are typically based on a percentage of assets under management, aligning the firm’s interests with those of their clients.

Zhang Financial is known for its transparent fee structure and has been recognized for its commitment to providing fiduciary advice. The firm operates in multiple locations, with a strong presence in Michigan, which allows them to serve a broad geographic area. They target affluent clients seeking comprehensive financial planning and investment management services.

One of Zhang Financial’s key strengths is their team of highly qualified professionals, including Certified Financial Planners (CFPs) and Chartered Financial Analysts (CFAs), who bring a depth of expertise to their client engagements. However, their focus on high-net-worth individuals may limit accessibility for potential clients with lower levels of investable assets.

Bloom Advisors

Bloom Advisors offers financial planning, retirement planning, and investment management services. They focus on creating personalized financial plans that address the unique needs of each client, emphasizing long-term relationships. Their pricing model is based on a combination of a flat fee for financial planning and a percentage of assets under management for investment services.

Located in Michigan, Bloom Advisors serves a diverse clientele, including families, professionals, and retirees. They are particularly noted for their comprehensive approach to retirement planning. Their market segment includes individuals and families looking for personalized financial guidance and strategies.

Bloom Advisors’ strength lies in their personalized service and holistic approach to financial planning. However, their weakness may be perceived in terms of scalability, as the highly personalized nature of their services could limit their capacity to grow their client base rapidly.

Peak Wealth Management

Peak Wealth Management specializes in wealth management, financial planning, and estate planning services. They aim to help clients grow and protect their wealth through customized investment strategies and comprehensive financial planning. Pricing at Peak Wealth Management typically involves a fee based on the percentage of assets under management, along with possible flat fees for specific planning services.

With a presence in Michigan, Peak Wealth Management targets a broad range of clients, including individuals, families, and business owners. Their services are designed to cater to a wide spectrum of financial needs, from young professionals to retirees. This allows them to serve a diverse customer base within the region.

The firm’s key strength is its integrated approach to wealth management, combining investment management with financial planning to provide a holistic service offering. A potential weakness could be the challenge of differentiating their services in a crowded market, where many firms offer similar wealth management solutions.

Competitive Advantages

At WealthWise Planning, we pride ourselves on delivering superior financial planning services that set us apart from our competitors. Our team of experienced professionals employs a personalized approach to financial planning, ensuring that each client’s unique needs and goals are meticulously addressed. We understand that financial planning is not a one-size-fits-all service, which is why we tailor our strategies to fit the individual circumstances of our clients. This bespoke service model enables us to provide more accurate, relevant, and effective financial advice, making a significant difference in our clients’ financial well-being and future security.

Furthermore, our competitive advantage extends beyond just the quality of our financial planning services. We are deeply committed to leveraging the latest technology to enhance our service delivery and client experience. From advanced financial modeling tools to seamless digital communication platforms, we ensure that our clients have access to cutting-edge resources. This technological edge not only improves the efficiency and effectiveness of our financial planning solutions but also provides our clients with a level of convenience and accessibility that is rare in the financial advisory sector. Coupled with our unwavering commitment to client satisfaction, WealthWise Planning stands as a beacon of excellence in the financial advisory landscape, ready to guide our clients towards achieving their financial dreams with confidence and clarity.

Our marketing plan, included below, details our products/services, pricing and promotions plan.

Products and Services

Understanding the financial landscape can be daunting for many. This is why WealthWise Planning steps in to offer comprehensive financial services designed to meet a variety of needs. From crafting personalized financial plans to managing investments, WealthWise Planning ensures that its clients are well-prepared for the future, regardless of their current financial situation. Below is a detailed overview of the products and services offered, along with their average selling prices, enabling clients to make informed decisions.

Financial Planning is one of the cornerstone services offered. It encompasses a thorough analysis of the client’s current financial status and the development of strategies to meet future goals. Clients can expect to pay an average of $2,500 for a comprehensive financial plan. This service is tailored to provide a roadmap that covers savings, budgeting, and strategic investment recommendations.

Investment Management is another critical service provided. WealthWise Planning adopts a proactive approach to portfolio management, ensuring that clients’ investments align with their risk tolerance and financial objectives. The cost for this service typically averages 1% of the assets under management (AUM) annually. This fee structure ensures that the firm’s interests are directly aligned with the client’s success.

Retirement Planning is crucial for anyone looking to secure their financial future post-employment. WealthWise Planning helps clients navigate the complex world of retirement savings, pension plans, and Social Security benefits. Clients can expect to pay an average of $1,500 for a retirement plan, which is a small price for the peace of mind and security it brings in one’s golden years.

Estate Planning is also offered, ensuring that clients’ financial affairs are in order, and their legacies are preserved according to their wishes. The service includes guidance on wills, trusts, and estate taxes, among other elements. The average cost for estate planning services is around $3,000, depending on the complexity of the client’s estate and goals.

Tax Advisory services round out WealthWise Planning’s offerings, providing clients with strategies to minimize tax liabilities and ensure compliance with tax laws. This service, priced at an average of $500 annually, is invaluable for both individual and corporate clients looking to optimize their tax situations.

In summary, WealthWise Planning offers a suite of financial services designed to cater to various needs, from financial planning and investment management to retirement, estate planning, and tax advisory. With transparent pricing and a client-centric approach, WealthWise Planning is committed to helping its clients achieve financial well-being and security.

Promotions Plan

Attracting customers in the dynamic financial advisory market requires a multifaceted promotional approach. WealthWise Planning embraces a variety of methods to ensure it stands out in Detroit, MI, and builds a solid client base. Online marketing forms the cornerstone of their promotional strategy, leveraging the power of digital platforms to reach potential clients effectively.

One key aspect of online marketing is search engine optimization (SEO). WealthWise Planning will optimize its website with relevant keywords to ensure it ranks high in search results related to financial advice in Detroit. This strategy will increase visibility and attract organic traffic to their site. Alongside SEO, they will engage in pay-per-click (PPC) advertising, targeting individuals searching for financial planning services. PPC campaigns will allow WealthWise Planning to appear at the top of search results, offering immediate visibility.

Social media marketing is another pillar of their promotional efforts. WealthWise Planning will establish a strong presence on platforms such as LinkedIn, Facebook, and Instagram. By sharing informative content, financial tips, and insights into the financial planning process, they will build a relationship with their audience and establish themselves as thought leaders in the industry. Social media ads, tailored to target demographics in Detroit, will further enhance their visibility and attract potential clients.

Email marketing will also play a crucial role in WealthWise Planning’s promotional strategy. By collecting email addresses through their website and social media channels, they will send out newsletters, financial advice, and updates about their services. This direct form of communication will keep WealthWise Planning top of mind among potential clients and encourage engagement with their services.

Beyond online marketing, WealthWise Planning will engage in community outreach and networking. Hosting financial planning workshops and seminars in Detroit will allow them to demonstrate their expertise and engage directly with potential clients. They will also form partnerships with local businesses and organizations to expand their reach and establish a referral network. These face-to-face interactions will complement their online efforts, creating a comprehensive promotional strategy that builds trust and credibility in the community.

Finally, WealthWise Planning will leverage client testimonials and case studies to showcase their success stories and the value they provide. Sharing these testimonials on their website and social media channels will help build confidence among potential clients, illustrating the positive impact of their financial advisory services.

By integrating online marketing with community engagement and direct communication, WealthWise Planning positions itself to attract a diverse client base in Detroit. Their comprehensive approach ensures they not only reach potential clients but also build lasting relationships that foster trust and credibility in the financial advisory space.

Our Operations Plan details:

  • The key day-to-day processes that our business performs to serve our customers
  • The key business milestones that our company expects to accomplish as we grow

Key Operational Processes

To ensure the success of WealthWise Planning, there are several key day-to-day operational processes that we will perform.

  • Customer Relationship Management (CRM) Activities: We will maintain detailed records of all interactions with clients, including calls, meetings, and emails. This ensures personalized and timely communication, fostering strong relationships.
  • Financial Analysis and Planning: We will conduct comprehensive financial analysis for each client, considering their income, expenses, investments, and financial goals. This allows us to provide tailored financial advice and planning services.
  • Market Research: We will continuously monitor financial markets and economic indicators to stay informed about trends and opportunities that can impact our clients’ investment strategies.
  • Compliance and Regulatory Reporting: We will ensure that all operations comply with financial regulations and laws. This includes preparing and submitting required reports to regulatory bodies in a timely manner.
  • Professional Development: We will invest in ongoing education and training for our advisors to keep them abreast of the latest financial planning strategies, tools, and regulatory changes.
  • Client Portfolio Management: We will actively manage client portfolios, making adjustments as needed based on market conditions and client objectives. This includes buying and selling assets, rebalancing portfolios, and ensuring diversification.
  • Client Meetings and Reviews: We will schedule regular meetings with clients to review their financial plans, discuss any changes in their financial situation, and adjust their investment strategies accordingly.
  • Operational Efficiency: We will continuously seek ways to improve operational efficiency, including automating routine tasks, optimizing internal processes, and utilizing technology to enhance service delivery.
  • Risk Management: We will implement strategies to identify, assess, and mitigate risks that could impact our clients’ investments or the operation of WealthWise Planning. This includes ensuring cybersecurity measures are in place to protect client information.
  • Marketing and Client Acquisition: We will execute targeted marketing campaigns to attract new clients and retain existing ones. This will include digital marketing, community engagement, and networking events.

WealthWise Planning expects to complete the following milestones in the coming months in order to ensure its success:

  • Launch our Financial Advisor Business : This initial step involves setting up the legal structure of the business, securing an office space in Detroit, MI, and ensuring all regulatory and compliance measures are met to operate as a financial advisor within the state. This includes obtaining necessary licenses and registrations with state and federal financial regulatory bodies.
  • Develop and Implement a Comprehensive Marketing Strategy : Create a multi-channel marketing strategy that includes digital marketing (SEO, social media, email marketing), local advertising, and community engagement to build brand awareness and attract initial clients.
  • Build a Robust Client Onboarding Process : Design and implement a streamlined onboarding process that ensures a smooth and professional experience for new clients. This includes client intake forms, assessment of financial goals and risk tolerance, and initial financial planning and advisement sessions.
  • Establish Strategic Partnerships with Local Businesses and Communities : Form partnerships with local businesses, community organizations, and professionals (such as accountants and lawyers) to build referral networks and increase client base through trusted sources.
  • Hire and Train Additional Financial Advisors and Support Staff : As the client base grows, recruit, hire, and train additional qualified financial advisors and support staff to maintain high service quality and client satisfaction. Focus on team members with strong expertise and excellent client service skills.
  • Implement Cutting-Edge Financial Planning Software and Tools : Invest in advanced financial planning software and tools to enhance service delivery, improve client experience, and increase operational efficiency. Ensure staff are trained on these technologies.
  • Achieve $5,000/Month in Revenue : This milestone signifies the business’s initial traction and market acceptance. It involves acquiring enough clients and managing enough assets to generate this level of recurring revenue.
  • Develop and Launch a Client Retention and Expansion Program : Create programs aimed at retaining existing clients and encouraging referrals, such as regular financial education workshops, personalized financial health reports, and client appreciation events.
  • Get to $15,000/Month in Revenue : This critical milestone indicates that WealthWise Planning has successfully scaled its client base and service offerings to a sustainable level. Achieving this target requires consistent marketing efforts, excellent client service, and a focus on expanding services to meet client needs. By systematically achieving these milestones, WealthWise Planning aims to establish itself as a successful and reputable financial advisor in Detroit, MI, positioning itself for long-term growth and success in the financial services industry.

WealthWise Planning management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:

Aiden Scott, President

Aiden Scott brings to WealthWise Planning not only his title of President but also a rich background in financial advisory services. Having successfully led a financial advisory firm in the past, Scott has demonstrated a keen ability to navigate the complex landscape of financial planning and investment management. His track record speaks volumes about his strategic foresight, leadership skills, and his deep understanding of the financial industry. Under his stewardship, WealthWise Planning is poised to benefit from Scott’s experience in creating value for clients and steering the company towards lasting success. His expertise is instrumental in shaping the strategic direction of WealthWise Planning, ensuring that the firm remains at the forefront of delivering exceptional financial advisory services.

To achieve our growth goals, WealthWise Planning requires $182,000 in funding. This funding will be allocated towards capital investments such as location buildout, furniture, equipment, and non-capital investments including working capital, initial rent, staff salaries, marketing, supplies, and insurance. These investments are critical for establishing our operations in Detroit, MI, and positioning WealthWise Planning for long-term success and sustainability in the financial services industry.

Financial Statements

Balance sheet.

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Income Statement

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Cash Flow Statement

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Financial Advisor Business Plan Example PDF

Download our Financial Advisor Business Plan PDF here. This is a free financial advisor business plan example to help you get started on your own financial advisor plan.  

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Business Plan Writer Moscow

A well written business plan is an essential component for any company seeking to raise capital. Our team at Prospectus.com has over 20 years of experience writing business plans and structuring business models for start-ups, later stage and expansion companies, those seeking venture or angel financing all the way to mezzanine and 144A funding, spanning a wide range of industries across the globe. We have been involved in thousands business projects and assisted with business planning, offering and private placement setup, feasibility studies, drafting financial projections, both for private companies and those seeking initial public offerings or listings on a stock exchange.  Our team is a recognized leader in business plan development. In fact, our CEO is the Chairman and Founder of  Borders.org  ( Business Plans Without Borders ), a not-for-profit 501c3 organization which assist low income families as well as refugees and immigrants with business plan writing services and grants.

Our Team’s Business Plan Advisory Services Value-Proposition:

  • Our staff are known as one of the most reliable and affordable Business Plan developers in the U.S. and worldwide. Our straight forward and honest assessment of one’s business is one of our strongest characteristics
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  • 1 to 2 weeks’ average time for completing business plans
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Moscow Business Plan Options

There are mainly two types of business plans that are written in Moscow: capital raising business plans and management or managerial business plans.

Raise Capital with a Business Plan

Most business plans are written with eye towards raising money for their venture. In a business plan that is written for investment capital, the structure of the business plans and therefore the most important point of the document will be the value-added benefit. Information on the products, services and the market will play central roles in the development of the plan, as well as various payout or exit strategies for the investors. Most business plans will focus on either selling equity or debt to investors.

  • Equity : In an equity business plan the company seeking funding will sell an ownership stake. If the company is a corporation, they will sell shares or common stock or a variation of them. If the company is a LLC or a Limited Company (which is popular worldwide) interest or units in the company would be offered. Both a form of ownership, just with a different name for each entity. In additional, there are other sweeteners one can add into any business plan offering, including warrants or preferred shares or preferred units or convertible debt.
  • Debt : in a debt offering business plan the company will be issuing some type of bond or a note to investors. A bond or note differ only in terms of the length of each security, which bonds being considered a longer maturity date than a note. There are also convertible debt securities that would convert the notes/bonds to equity at a certain fixed point in time. The business plan for bonds would detail the terms, such as the maturity date, interest rate and other vital information.

Managerial Guidance Business Plan

  • No Capital Raising : In a managerial or a management business plan, the focus is not on raising money but what strategy a company should employ. While most companies that write business plans do so to raise capital, there are some that simply want to get a second opinion or an outside view of their business. They ask us to write them a business plan for growth opportunities, not to raise money. Said another way, the management of the company wants to see our view and take on their business and what we would do to expand their company.
  • Recommendations : A business plan used to simply strategically plan one’s next move is referred to as managerial guidance business plan document. No capital is being raised initially, although sometimes we may conclude that capital should be raised for the company to penetrate or open new markets or opportunities. In the course of research, we may conclude that, in fact, the company should conduct an offering and raise money. We will recommend the amount to raise based on the company’s expansion needs and the company valuation.

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Our firm offers various levels of business plan writing service and consulting, including: Level I Start-up Business Plan »

  • Prospectus.com’s team consists of industry expert business plan writers. Our Level I Start-up Business Plan can be used for companies raising initial seed funding and getting off the ground. The dollar amount being raised is not of paramount importance.
  • The Start-up Plan includes complete financials, potential cash-flow, market analysis and marketing strategies as well as a break-even analysis, and a separate executive summary and much more.

Level II Expansion or Series B Business Plan »

  • Prospectus’ Level II Expansion or Series B Business Plan assists companies and entrepreneurs that are seeking to expand or scale their business, including by increasing market share.
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Our firm has years of experience drafting securities documents and is confident we can assist with your Moscow Business Plan Writer.  Feel free to contact us anytime, or call us to setup an appointment at any one of our global offices.

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How to Write a Food and Beverage Business Plan + Sample Business Plan PDF

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Elon Glucklich

7 min. read

Updated February 17, 2024

Free Download: Sample Food and Beverage Business Plan Templates

The food and beverage sector is booming. Restaurant openings rose 10% in 2023 compared to 2022 — even higher than in pre-pandemic years.

From fine dining to food trucks, farmers to brewers, and wholesalers to coffee makers, there are opportunities across the food and beverage industry. 

But starting a business without covering the basics — your operations plan, marketing tactics, financial strategy, and more — carries huge risks. 

That’s why we recommend you write a business plan.

  • Why write a food and beverage business plan?

Writing a business plan is an easy first step that you can start for free. Plus, businesses that take time to plan are significantly more successful than those that don’t.

Many food and beverage establishments fail because of one of the following:

  • Poor inventory management
  • Underestimated expenses
  • High employee turnover
  • Misjudged the size of their market

Writing a business plan can help you:

  • Develop processes for managing inventory and logistics
  • Understand your cash flows and create a realistic expense budget
  • Budget for competitive employee pay that increases worker retention
  • Analyze your competition and determine how big your market is  

If you’re looking for funding from investors for your business, you’ll definitely need a business plan.

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  • How to write a food and beverage business plan

Many business plans follow a standard format and you can use it as a starting point when writing your own plan. Here’s what that includes:

Executive summary

  • Company summary and funding needs
  • Products and services
  • Marketing plan
  • Management team

Financial plan

For food and beverage companies, you must give extra attention to your market analysis, operations plan, and financial forecasts.

If you’re ready to start, download a free business plan template and fill it out as you read this article.

A sample business plan outline for a food and beverage business.

Every business plan should include an executive summary . It’s a brief outline summarizing the plan, no more than one or two pages.

We recommend that you write the executive summary last after fleshing out the details of your plan. 

Just summarize the vision for your business, describe your offerings and target market , and touch on your management team and financials. Don’t go into tons of detail — just provide a high-level sense of what you want your business to accomplish.

Opportunity: problem and solution

This section of your food and beverage business plan describes the opportunity you hope to capture.

Maybe you’re a farmer looking to diversify your revenue streams by distributing to grocery stores. Or a bar owner with high-end liquor that competitors in the market aren’t serving. 

Whatever your business is, describe the gap in the market and how you aim to fill it.

If you’re operating a more common type of business, like a restaurant , you can probably keep this section short. But it’s useful to document what makes your business unique and it will help focus your sales and marketing efforts later on.

Market analysis

In a field as crowded with competitors as the food and beverage space, a detailed market analysis is essential. 

Your focus should be on identifying the specific customer segments you aim to serve. 

Maybe you’re a butcher with connections to fresh livestock. Will you be more successful selling directly to consumers, or should you focus on selling to grocery stores and markets in your area?

Or, you’re opening  a diner. Should your menu focus on healthy meals or easy-to-make child-friendly options?

These are the types of questions that market research helps you answer. This section should detail the defining characteristics of your target market, including the demographics and preferences of your ideal customer and the size of the market you’re targeting. Market research questions specific to a food and beverage business could include:

  • Business location and characteristics
  • Area income
  • Local food and beverage preferences
  • Existing food and beverage options 

Elaborate on how your food and beverage offerings align with that target market ’s needs. Remember, you can’t please everyone, so focus on a specific group of people or type of person and build out from there.

Marketing and sales

For food and beverage businesses promotions are how you stand out and seize a share of your market.

The marketing and advertising chapter of your business plan is where you’ll detail your strategies for capturing the attention — and loyalty — of the customers you identified as your target market in the previous section.

With so many options for consumers in the food and beverage space, you’ll likely have to rely on multiple marketing channels , including::

  • Advertising on websites, television, and in relevant publications.
  • Content marketing — developing an engaging website and writing blog content that’s search engine optimized to drive traffic to your site.
  • Engaging with your customers on social media.
  • Offering discounts and customer loyalty programs.
  • Appearing at food and beverage industry trade shows and community events.

It doesn’t matter how delicious your recipes are, how fresh your crops are, or how innovative your cocktails are — if you don’t operate efficiently, your business probably won’t last long.

The operations strategy may be the most detailed section of your business plan, especially if you’re writing it for a bank loan or investment. This section describes how you will run your business day to day.

When writing the operations section, describe the following:

Physical space

Whether it’s a restaurant, a farm, or a food transportation business, describe the space you’re operating in, and all of the physical assets and equipment you’ll need to be successful. 

If it’s a sit-down restaurant, consider including a floorplan mockup in your appendix.

Supply chain 

List the suppliers and partners that get your product to customers. Think about the businesses you purchase ingredients from, the warehouses that goods are stored in, and the trucking companies that deliver your products to grocery stores. 

These are your supply chain partners. It’s crucial that you maintain good relationships with them.

Production processes

How long it takes to make your product, and what materials and equipment are required. Documenting how you produce your goods or services demonstrates that you understand the costs of making them. 

You may also uncover ways to produce them more quickly, or at a lesser cost.

Detail how you’ll handle matters of efficiency like order fulfillment, storage, shipping, and returns, as well as customer satisfaction. If you provide delivery services, document how you will handle the process of getting your product to customers’ homes or businesses.

List your staffing needs, training, and experience requirements for key staff. Also, document the management structure of your business. 

This helps ensure that important tasks you don’t have time to monitor are being done and that workers are being supervised.

Describe investments in payment processing systems, inventory management software, and other tools that support sales or operations in your business. Cataloging your technology systems will help you determine where it might make sense to invest in upgrades for efficiency.

Take some time to write a financial plan . Create detailed financial projections, including sales , expenses , and profitability .

If that sounds intimidating, take a deep breath, and remember that financial forecasts are really just best guesses. If you’re running an existing business, you can start with your previous year’s numbers. If you’re starting, make an educated guess about where you hope to be financially a year from now.

Investors will want to see a: 

  • Sales forecast
  • Income statement (also called a profit and loss statement )
  • Cash flow statement
  • Balance sheet 

If you use a tool like LivePlan , you’ll be able to build out your financial forecasts relatively quickly, even if you don’t have experience with business numbers.

Even if you aren’t seeking investment, the financial plan is crucial for understanding the viability of your business. It allows you to adjust your business model based on projected performance, and make informed decisions about where to spend your money.

  • Food and beverage business plan templates and examples

If you want to see how other food and beverage businesses have created their plans, check out our free library of food and beverage business plans . 

You can download all of them in Word format and jump-start your own business plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Content Author: Elon Glucklich

Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

Check out LivePlan

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COMMENTS

  1. Business Plan Financial Templates

    Download and use expert-tested financial templates for your business plan in Excel, Google Sheets, and PDF formats. Find the essential financial statement templates, including income statement, cash flow statement, balance sheet, sales forecast, break-even analysis, and budget templates. Learn the key elements of the financial section of a business plan.

  2. How to Write a Financial Plan: Budget and Forecasts

    Noah Parsons 3 min. read Updated January 3, 2024 Download Now: Free Income Statement Template Creating a financial plan is often the most intimidating part of writing a business plan. It's also one of the most vital.

  3. How to Write the Financial Section of a Business Plan

    Use the numbers that you put in your sales forecast, expense projections, and cash flow statement. "Sales, lest cost of sales, is gross margin," Berry says. "Gross margin, less expenses, interest ...

  4. Write your business plan

    Learn how to write a business plan quickly and efficiently with a business plan template. Choose between a traditional or lean startup format, and follow the nine sections of a traditional plan or the four sections of a lean startup plan. Download examples of each format and get tips on financial projections.

  5. How to Prepare a Financial Plan for Startup Business (w/ example)

    Key Takeaways Realistic assumptions, thorough research, and a clear understanding of the market are the key to reliable financial projections. Cash flow projection, balance sheet, and income statement are three major components of a financial plan. Preparing a financial plan is easier and faster when you use a financial planning tool.

  6. Business Plan Essentials: Writing the Financial Plan

    For your business plan, you should create a pro forma balance sheet that summarizes the information in the income statement and cash flow projections. A business typically prepares a balance sheet once a year. Download the Sample Balance Sheet Template. Once your balance sheet is complete, write a brief analysis for each of the three financial ...

  7. 4 Steps to Creating a Financial Plan for Your Small Business

    Key Takeaways A financial plan details a business's current standing and helps business leaders make informed decisions about future endeavors and strategies. A financial plan includes three major financial statements: the income statement, balance sheet and cash flow statement.

  8. Free financial plan template for entrepreneurs

    Financial plan template Anticipate your financial needs more easily Download What is it? The financial plan is used to project your revenues and expenses for the coming months. It allows you to plan for lower cash flows, identify your financing needs and determine the best time to get your projects off the ground. This tool will help you

  9. Financial Plan Sample For Small Business: Everything You ...

    A financial plan sample for small business is good to use when establishing your own financial plan for your new business. The business plan is important and highly beneficial, as it can help you identify your short-term and long-term goals, along with what you are hoping to achieve as a small business owner during the lifetime of the business.

  10. Free Financial Services Business Plan Template + Example

    Unlike other blank templates, our business plan examples are complete business plans with all of the text and financial forecasts already filled out. Edit the text to make the plan your own and save hundreds of hours. A professional business plan template. All 550 of our business plans are in the SBA-approved format that's proven to raise money ...

  11. Financial Planning Business Plan Template

    Strategy and Implementation: Provides the details of how you plan on building the business. Management Team: An overview of the people behind the business and why they're the right team to make the business a success. Financial Plan: A complete set of forecasts including a Profit and Loss Statement, Cash Flow Statement, and Balance Sheet.

  12. Financial Section of Business Plan

    Generally, the financial section is one of the last sections in a business plan. It describes a business's historical financial state (if applicable) and future financial projections. Businesses include supporting documents such as budgets and financial statements, as well as funding requests in this section of the plan. The financial part of ...

  13. Financial Assumptions and Your Business Plan

    Financial assumptions are the guidelines you give your business plan to follow. They can range from financial forecasts about costs, revenue, return on investment, and operating and startup expenses. Basically, financial assumptions serve as a forecast of what your business will do in the future.

  14. Financial Advisor Business Plan Template [Updated 2024]

    Financial Advisor Business Plan Template. Written by Dave Lavinsky. Over the past 20+ years, we have helped over 9,000 entrepreneurs create business plans to start and grow their financial advisor and financial planning businesses. On this page, we will first give you some background information with regards to the importance of business planning.

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