Wondering what are types of business plan that could be useful in helping you secure funding? In fact, there are numerous different types of business plans that you can use. The kind you select simply depends on your needs. Will you use the business plan to secure funding from a venture capitalist or angel investor? Perhaps you're considering a bank loan? Or maybe you just need a business plan for your own purposes – and to help guide you during the first year of your Company's operations. Depending on what you determine your needs are, the content and sections in your business plan will vary. The following are the most common types of business plan you might see:
• An executive summary only – good for pitching to investors or venture capitalists
• A basic business plan with an executive summary, market analysis, and three year financials is suitable for bankers
• For venture capitalists or angel investors, you may need to expand your financial forecast to five years
• A proposal , or a 3-4 page document, that succinctly describes your idea; useful for busy investors to stimulate interest
Of course, many of the sections in these various business plans may overlap. In addition, an investor, lender, or banker may ask you for certain elements while another will not. While most bankers only require three year financial forecasts, for instance, your neighborhood lender might require more. The types of business plan listed above are a good starting point though in helping you determine which one you need to move forward with your idea.
Still need more help? Contact MasterPlans, the industry leaders in the business plan writing sector. We've helped thousands of entrepreneurs like you find the type of business plan they needed, and have successfully developed it as well. Call us today at 877-453-2011 for more information.
