Cons of using a business plan template: While there are benefits to using a business plan template, depending on your situation it may not be the best way to complete your plan. For instance, not only do you have to complete the financial spreadsheets, but you have to do the math yourself.
You’ll also have to know enough about the process to be sure you’re getting the numbers in the right place.
That best way to find out whether you do or not is to do your research and write a business plan to see if your idea is feasible.
The simple business plan template presented here will get you started.
Pros of using a business plan template: A good business plan template can help you get your thoughts organized.
It can provide a guideline so you’re not stuck looking at a blank page trying to figure out where to start.
See How to Write The Management Plan Section of the Business Plan before addressing this section.
Ownership Structure The operating plan outlines the physical requirements of your business, such as office, warehouse, retail space, equipment, inventory and supplies, labor, etc.
It’s not easy to keep everything completely up-to-date as you make changes to your numbers, and integrating the right charts and graphs into your business plan is harder than it looks.
However, if you’re new to business planning and just want to get a sense of what a plan looks like and want to get the process started quickly and cheaply, then downloading a free template is the best way to get started.