reference list for business plan

An official website of the United States government

Here’s how you know

Official websites use .gov A .gov website belongs to an official government organization in the United States.

Secure .gov websites use HTTPS A lock ( Lock Locked padlock ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.

Hurricanes Helene and Milton

Need help? Learn about SBA disaster assistance.

Write your business plan

Business plans help you run your business.

A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think through the key elements of your business.

Business plans can help you get funding or bring on new business partners. Investors want to feel confident they’ll see a return on their investment. Your business plan is the tool you’ll use to convince people that working with you — or investing in your company — is a smart choice.

Pick a business plan format that works for you

There’s no right or wrong way to write a business plan. What’s important is that your plan meets your needs.

Most business plans fall into one of two common categories: traditional or lean startup.

Traditional business plans are more common, use a standard structure, and encourage you to go into detail in each section. They tend to require more work upfront and can be dozens of pages long.

Lean startup business plans are less common but still use a standard structure. They focus on summarizing only the most important points of the key elements of your plan. They can take as little as one hour to make and are typically only one page.

Traditional business plan

Lean startup plan

Traditional business plan format

You might prefer a traditional business plan format if you’re very detail-oriented, want a comprehensive plan, or plan to request financing from traditional sources.

When you write your business plan, you don’t have to stick to the exact business plan outline. Instead, use the sections that make the most sense for your business and your needs. Traditional business plans use some combination of these nine sections.

Executive summary

Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and basic information about your company’s leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.

Company description

Use your company description to provide detailed information about your company. Go into detail about the problems your business solves. Be specific, and list out the consumers, organization, or businesses your company plans to serve.

Explain the competitive advantages that will make your business a success. Are there experts on your team? Have you found the perfect location for your store? Your company description is the place to boast about your strengths.

Market analysis

You'll need a good understanding of your industry outlook and target market. Competitive research will show you what other businesses are doing and what their strengths are. In your market research, look for trends and themes. What do successful competitors do? Why does it work? Can you do it better? Now's the time to answer these questions.

Organization and management

Tell your reader how your company will be structured and who will run it.

Describe the  legal structure  of your business. State whether you have or intend to incorporate your business as a C or an S corporation, form a general or limited partnership, or if you're a sole proprietor or limited liability company (LLC).

Use an organizational chart to lay out who's in charge of what in your company. Show how each person's unique experience will contribute to the success of your venture. Consider including resumes and CVs of key members of your team.

Service or product line

Describe what you sell or what service you offer. Explain how it benefits your customers and what the product lifecycle looks like. Share your plans for intellectual property, like copyright or patent filings. If you're doing  research and development  for your service or product, explain it in detail.

Marketing and sales

There's no single way to approach a marketing strategy. Your strategy should evolve and change to fit your unique needs.

Your goal in this section is to describe how you'll attract and retain customers. You'll also describe how a sale will actually happen. You'll refer to this section later when you make financial projections, so make sure to thoroughly describe your complete marketing and sales strategies.

Funding request

If you're asking for funding, this is where you'll outline your funding requirements. Your goal is to clearly explain how much funding you’ll need over the next five years and what you'll use it for.

Specify whether you want debt or equity, the terms you'd like applied, and the length of time your request will cover. Give a detailed description of how you'll use your funds. Specify if you need funds to buy equipment or materials, pay salaries, or cover specific bills until revenue increases. Always include a description of your future strategic financial plans, like paying off debt or selling your business.

Financial projections

Supplement your funding request with financial projections. Your goal is to convince the reader that your business is stable and will be a financial success.

If your business is already established, include income statements, balance sheets, and cash flow statements for the last three to five years. If you have other collateral you could put against a loan, make sure to list it now.

Provide a prospective financial outlook for the next five years. Include forecasted income statements, balance sheets, cash flow statements, and capital expenditure budgets. For the first year, be even more specific and use quarterly — or even monthly — projections. Make sure to clearly explain your projections, and match them to your funding requests.

This is a great place to use graphs and charts to tell the financial story of your business.  

Use your appendix to provide supporting documents or other materials were specially requested. Common items to include are credit histories, resumes, product pictures, letters of reference, licenses, permits, patents, legal documents, and other contracts.

Example traditional business plans

Before you write your business plan, read the following example business plans written by fictional business owners. Rebecca owns a consulting firm, and Andrew owns a toy company.

Lean startup format

You might prefer a lean startup format if you want to explain or start your business quickly, your business is relatively simple, or you plan to regularly change and refine your business plan.

Lean startup formats are charts that use only a handful of elements to describe your company’s value proposition, infrastructure, customers, and finances. They’re useful for visualizing tradeoffs and fundamental facts about your company.

There are different ways to develop a lean startup template. You can search the web to find free templates to build your business plan. We discuss nine components of a model business plan here:

Key partnerships

Note the other businesses or services you’ll work with to run your business. Think about suppliers, manufacturers, subcontractors, and similar strategic partners.

Key activities

List the ways your business will gain a competitive advantage. Highlight things like selling direct to consumers, or using technology to tap into the sharing economy.

Key resources

List any resource you’ll leverage to create value for your customer. Your most important assets could include staff, capital, or intellectual property. Don’t forget to leverage business resources that might be available to  women ,  veterans ,  Native Americans , and  HUBZone businesses .

Value proposition

Make a clear and compelling statement about the unique value your company brings to the market.

Customer relationships

Describe how customers will interact with your business. Is it automated or personal? In person or online? Think through the customer experience from start to finish.

Customer segments

Be specific when you name your target market. Your business won’t be for everybody, so it’s important to have a clear sense of whom your business will serve.

List the most important ways you’ll talk to your customers. Most businesses use a mix of channels and optimize them over time.

Cost structure

Will your company focus on reducing cost or maximizing value? Define your strategy, then list the most significant costs you’ll face pursuing it.

Revenue streams

Explain how your company will actually make money. Some examples are direct sales, memberships fees, and selling advertising space. If your company has multiple revenue streams, list them all.

Example lean business plan

Before you write your business plan, read this example business plan written by a fictional business owner, Andrew, who owns a toy company.

Need help? Get free business counseling

Citing Online Business Resources using APA Style (7th Edition)

• Using APA Style
• Note About These Examples

Annual Report / Form 10-K

Article with a doi, article without a doi, from an academic database or print version, article without a doi but with a non-database ("free") url, books, ebooks and book chapters, claritas 360, d&b hoovers, demographicsnow, dictionary, encyclopedia, or handbook entry, dissertations and theses, eiu viewpoint (economist intelligence unit), emarketer (now called insider intelligence), euromonitor passport, europa world yearbook online, fasb codification, focus groups (research participants), forrester research, gale business insights - market share reporter, swot report, & company profile, google maps, government report *, insider intelligence (formerly emarketer), marketline report retrieved from business source complete, mergent archives, mergent intellect, mergent online, mintel reports, mri-simmons, nexis uni - company dossiers & create company lists, personal communications, plunkett research online, powerpoint slides or lecture notes, press release, reports & whitepapers *, richard k. miller & associates (rkma), s&p capital iq netadvantage, sage business cases, social media, sports market analytics (sbrnet), statistical abstract of the united states (proquest), u. s. census, video & streaming film, world development indicators (wdi).

• APA In-text Citation Examples
• APA Figure Examples
• If you retrieved an annual report or 10-K from the company's website, cite it as you would cite a website. For an example, go to the website examples box  and look at the Facebook example.
• If you retrieved an annual report or 10-K from a database, cite it as information retrieved from that database. For examples, go to the applicable database box below (e.g. D&B Hoovers, FactSet, Mergent, etc.)

Holland, C. P. (1995). Cooperative supply chain management: The impact of interorganizational information systems. The Journal of Strategic Information Systems, 4 (2), 117-133. https://doi.org/10.1016/0963-8687(95)80020-Q

• See more Journal Article References examples on the APA Style website

If the article does not have a DOI and is from an academic research database , end the reference after the page range. In this case the reference is the same as for a print article. 

Journal Article

Arruda-Filho, E., Cabusas, J., & Dholakia, N. (2010). Social behavior and brand devotion among iPhone innovators.  International Journal of Information Management,   30 (6), 475-480.

Magazine Article

Twenge, J. M. (2017, September). Has the smartphone destroyed a generation? Atlantic , 320 (2), 58–65.

• See more Magazine Article References examples on the APA Style website

Newspaper Article

Burkitt, L. (2010, December 16). McDonald's joins the line looking to expand in China.  Wall Street Journal [Eastern edition], B8.  

• See more Newspaper Article References examples on the APA Style website

If the article does not have a DOI but does have a URL that will resolve for readers (e.g., it is from an online journal, magazine or newspaper that is not part of a database), include the URL of the article at the end of the reference.

Huerta, D., Perez-Liston, D., & Jackson, D. (2011). The impact of TARP bailouts on stock market volatility and investor fear.  Banking and Finance Review, 3 (1), 45-54. http://www.bankingandfinancereview.com/bfr/index.php/bfr/article/view/183

Stoddart, T. (2020, July 1). Content marketing: A modern guide. Copyblogger . https://copyblogger.com/content-marketing/

• see more Blog Post and Blog Comment examples on the APA Style website

Use the same format for both print books and ebooks.

• Provide the author, year of publication, title, and publisher of the book. Include any edition information in parentheses after the title, without italics.
• If the book includes a DOI or URL include it in the reference after the publisher name. 
• If the book is an ebook from an academic research database and does not have a DOI, end the book reference after the publisher name. Do not include database information in the reference. The reference in this case is the same as for a print book..
• If the author and publisher are the same, omit the publisher from the source element.

Lewis, R., & Dart, M. (2010).  The new rules of retail: Competing in the world's toughest marketplace . Palgrave Macmillan.

American Psychological Association. (2020).  Publication manual of the American Psychological Association  (7th ed). https://doi.org/10.1037/0000165-000

Edited Book

Jameson, J. (Ed.). (2020).  International perspectives on leadership in higher education: Critical thinking for global challenges . Routledge. https://doi.org/10.4324/9781315122410  

Nakayama, T. K., & Halualani, R. T. (Eds.). (2011).  The handbook of critical intercultural communication . Wiley.

Book Chapter

Smith, A. C. T. (2017). Sport marketing. In R. Hoye & M. M. Parent (Eds.),  The SAGE handbook of sport management  (pp. 138-159). Sage.

• see more Book References examples on the APA Style website
• see more Chapter in an Edited Book/Ebook References examples on the APA Style website
• see How to Cite ChatGPT in the APA Style Blog

Note about retrieval dates:   Include a retrieval date in the reference if the work is unarchived and designed to change over time.

Claritas. (2017). Pop facts demographics report: Middlesex County  [Data]. Retrieved September January 29, 2019, from https://claritas360.claritas.com/

Claritas. (2019). Market potential report: Alcohol in analysis area Boston, et al MA-NH Nielsen Designated Market Area (DMA) [Data]. Retrieved January 29, 2019, from https://claritas360.claritas.com/

Claritas. (2020). Profile worksheet: Quick service restaurants used past 30 days Five Guys (A)  [Data]. Retrieved August 5, 2020, from https://claritas360.claritas.com/

Harris, K. M., & Udry, J. R. (2018, August 6). National longitudinal study of adolescent to adult health (Add Health), 1994-2008 (Public Use) [Data Set]. ICPSR. https://doi.org/10.3886/ICPSR21600.v21

Pew Research Center. (2020). Congress on social media, 2015-2020 [Data set]. https://www.pewresearch.org/internet/dataset/congress-on-social-media-2015-2020/

• see more Data Set References examples on the APA Style website

Company Information

Dun & Bradstreet. (n.d.). Merck & Co. Inc.  [Company profile]. D&B Hoovers. Retrieved August 10, 2020, from http://logon.onesource.com/

Dun & Bradstreet. (2019, November 12).  CRUSH Report for Merck & Co. Inc. D&B Hoovers. http://logon.onesource.com/

Merck & Co. Inc. (2020, February 26). Form 10-K . D&B Hoovers. http://logon.onesource.com/

SWOT, Industry and Analyst Reports

This database contains reports authored by a variety of sources (e.g. MarketLine, GlobalData). Cite the original source of the data in the author element.

Clarivate Analytics. (2020, April 5).  Merck Sharp & Dohme Corp: Cortellis company and pipeline overview report.  D&B Hoovers. http://logon.onesource.com/

GlobalData. (2020, May 22). Merck & Co. Inc . [SWOT report]. D&B Hoovers. http://logon.onesource.com/

MarketLine. (2020, May).  Pharmaceuticals in South Africa [Industry profile]. D&B Hoovers. http://logon.onesource.com/

Build Company List

Dun & Bradstreet. (n.d.). [List of public, parent companies in the pharmaceutical manufacturing industry (primary) in the United States]. D&B Hoovers. Retrieved August 10, 2020, from http://logon.onesource.com/

Company Profile

Date Axle. (n.d.). New Balance Athletics, Brighton, MA [Headquarter] [Company profile]. Retrieved February 15, 2022, from https://www.referenceusa.com

Company List

Data Axle. (n.d.). [List of companies in Providence, RI with 100-999 employees]. Retrieved February 15, 2022, from https://www.referenceusa.com

Data and Custom Searches

DemographicsNow. (n.d.). [Geography: Massachusetts; People & companies: Business list search for primary NAICS only - 312120 breweries] [Data]. Retrieved August 6, 2020, from https://link.gale.com/apps/DNOW

Easy Analytic Software (EASI), Alteryx, & Experian. (n.d.).  Complete demographic summary report: Geography 01803 (zip) Burlington, MA  [Data]. DemographicsNow. Retrieved August 5, 2020, from https://link.gale.com/apps/DNOW

Easy Analytic Software (EASI), Alteryx, & Experian. (n.d.).  Household comparison report: Boston, MA and San Francisco, CA  [Data]. DemographicsNow. Retrieved May 1, 2018, from https://link.gale.com/apps/DNOW

Mosaic Profile

Experian. (2022). Type G25: Urban edge. Mosaic USA . Retrieved August 19, 2023, from https://link.gale.com/apps/DNOW

Entry with a group author

Central Intelligence Agency. (2021, March 15). Austria. In The world factbook. https://www.cia.gov/the-world-factbook/countries/austria/

Merriam-Webster. (n.d.). Gerrymander. In Merriam-Webster.com dictionary . Retrieved June 27, 2019, from https://www.merriam-webster.com/dictionary/gerrymander

Entry with individual author in an edited book

Fitzgerald, J. A., & Tengler, D. L. (2019). Obsessive-compulsive personality disorder. In B. Naris (Ed.), The Gale encyclopedia of mental health (4th ed., Vol. 3, pp. 1156-1160) .  Gale. 

Stiff, C. (2019). Social media and cyberactivism. In A. Attrill-Smith, C. Fullwood, M. Keep, & D. J. Kuss (Eds.), The Oxford handbook of cyberpsychology (pp. 370-393). Oxford University Press. https://doi.org/10.1093/oxfordhb/9780198812746.013.21

Entry without an author

Guyana. (n.d.). In Europa world online . Routledge. Retrieved March 3, 2021, from http://www.europaworld.com

• see more Dictionary Entry examples (print and online) on the APA Style website

Dissertation/thesis retrieved from ProQuest Dissertations and Theses database

Vasiliou, V. (2020).  Increasing gender diversity on corporate boards: Voices of male and female directors in the United States (Publication No. 27963279)   [Doctoral dissertation, Bentley University]. ProQuest Dissertations & Theses Global.

Dissertation/thesis published online in an archive or repository

Hoar, S. R. (2019).  Presidential power and partisan polarization [Master’s thesis, Massachusetts Institute of Technology]. DSpace@MIT. https://hdl.handle.net/1721.1/124272

Unpublished dissertation/thesis

Smith, C.L. (1990). Job search strategies: Their effects on job search success [Unpublished master's thesis]. Cornell University.

• see more Published Dissertations and Theses examples on the APA Style website
• see more Unpublished Dissertation of Theses examples on the APA Style website

Economist Intelligence Unit. (2024, September 10). One-click report: France [Country report]. EIU Viewpoint. https://viewpoint.eiu.com

Economist Intelligence Unit. (2024, July 22). Consumer goods report: Brazil .  EIU Viewpoint. https://viewpoint.eiu.com

Other content

Economist Intelligence Unit. (2024). Harris's lead against Trump continues to widen in national polls [Graph]. EIU Viewpoint. https://viewpoint.eiu.com

Economist Intelligence Unit. (2024, August 6). Polls show more Ukrainians support peace talks . EIU Viewpoint. https://viewpoint.eiu.com

Mansfield, E. & A. Ortolani. (2024, August 19). Global forecast: September 2024 [Video]. EIU Viewpoint. https://viewpoint.eiu.com

See entry for Insider Intelligence.

Euromonitor International. (n.d.). Market sizes for hot drinks - coffee - Germany, 2016-2019  [Data]. Passport. Retrieved August 5, 2020, from https://www.euromonitor.com/

Euromonitor International. (2020, February). Footwear in Japan . Passport. https://www.euromonitor.com/

Euromonitor International. (2020, April 23). Snacks for children: Targeting a new generation of parents . Passport. https://www.euromonitor.com/

Apple, Inc. (2019, October 31). Form 10-K . FactSet. https://www.factset.com/​

FactSet Research Systems. (n.d.). Apple Inc. acquires Mobeewave Inc. (July 31, 2020) [Deal snapshot]. Retrieved August 10, 2020, from https://www.factset.com/

​FactSet Research Systems. (n.d.).  Apple Inc. [Company profile]. Retrieved August 10, 2020, from https://www.factset.com/

FactSet Research Systems. (n.d.). Apple, Inc. [Broker outlook]. Retrieved August 10, 2020, from https://www.factset.com/

Note about retrieval dates: Include a retrieval date in the reference if the work is unarchived and designed to change over time.

Citing the Codification

FASB (Financial Accounting Standards Board). (n.d.). Accounting standards codification (ASC) . Retrieved January 16, 2013, from https://asc.fasb.org/

Citing a section of the Codification

FASB (Financial Accounting Standards Board). (n.d.). ASC 605-50-45-1 . Retrieved January 16, 2013, from https://asc.fasb.org/

Citing an Accounting Standards Update, Exposure Document or Other Source from the Codification

FASB (Financial Accounting Standards Board). (2012, October 24). Accounting standards update (ASU) No. 2012-07 . Retrieved January 16, 2013, from https://asc.fasb.org/

(FASB, ASC 605-50-45-1)

(FASB, ASU 2012-07)

Quotations from participants in an original research study you conducted (including focus groups) do not need citations or reference list entries . One reason that citations and references are excluded is that they could compromise participants’ confidentiality, which is an ethical violation.

When quoting a research participant, state in the text that the quotation is from a participant and follow the basic APA guidelines for formatting quotations of under or over 40 words.

• see Quotations From Research Participants examples on the APA Style website
• see more about Works Included in a Reference List on the APA Style website

Kodali, S., & Cyr, M. (2020, July 16).  The state of the US shopper — COVID-19 . Forrester Research. https://go.forrester.com/

Gale Group. (n.d.) Uber Technologies, Inc. [Company profile]. Gale Business Insights. Retrieved January 16, 2023, from https://bi.gale.com/essentials

Market Share Reporter entry

Top frozen plain potatoes/french fries/hashbrowns brands, 2021. (2023). In V. L. Burton III (Ed.),  Market share reporter (33rd ed.) . Gale.

SWOT Report

GlobalData. (2022, September). Abbott Laboratories  [SWOT report]. Gale Business Insights. https://bi.gale.com/essentials

Cearley, D., Jones, N., Smith, D., Burke, B., Chandrasekaran, A., & Lu, C. (2019, October 21).  Top 10 strategic technology trends for 2020  (ID: G00432920). Gartner. https://www.gartner.com

Google. (n.d.). [Google Maps restaurants on Moody Street, Waltham, MA]. Retrieved July 17, 2020, from https://goo.gl/maps/hFy4KwLX8EHdhjru6

The specific agency responsible for the report appears as the author. The names of any parent agencies not present in the group author name appear in the source element as the publisher.

National Institute of Mental Health. (2022).  Autism spectrum disorder  (NIH Publication 22-MH-8084). U.S. Department of Health and Human Services, National Institutes of Health. https://www.nimh.nih.gov/sites/default/files/documents/health/publications/autism-spectrum-disorder/22-MH-8084-Autism-Spectrum-Disorder.pdf

• see more Government Agency Report examples on the APA Style website

* Note: See the Reports & White Papers box  below for examples of reports not published by government agencies and white papers.

Fernandez, C. (2019, November).  Medical & recreational marijuana stores (US Specialized Industry Report OD4142). IBISWorld. https://www.ibisworld.com/

Hyland, S. (2020, May). Hotels & motels in the US (US Industry NAICS Report 72111). IBISWorld. https://www.ibisworld.com/

IBISWorld. (2020, May).  Number of college students (US Business Environment Profiles Report F601). https://www.ibisworld.com/

eMarketer. (2022, July). B2B digital ad spending, US, 2020-2024  [Chart]. Insider Intelligence. https://www.emarketer.com/

Enberg , J. (2022, August 23). Influencer marketing 2022 . Insider Intelligence. https://www.emarketer.com/ 

MarketLine. (2020, January 30). General Mills Inc. [Company profile]. Business Source Complete.

MarketLine. (2019, April). Bakery & cereals in the United States [Industry profile]. Business Source Complete. 

MarketLine. (2022, July 22). Ford Motor Company SWOT analysis . [SWOT analysis]. Business Source Complete.

Annual Reports

Target. (2000, January 29). Form 10-K . Mergent Archives. https://www.mergentarchives.com/

Commodity Yearbook

Commodity Research Bureau. (2018).  The CRB Commodity Yearbook 2018 . 

First Research Industry Profile

Dun & Bradstreet First Research. (2020, April 27). Drug stores [Industry profile]. Mergent Archives. https://www.mergentarchives.com/

D&B Industry Norms and Key Business Ratios

Dun & Bradstreet. (2018). SIC 5812 Eating places [Industry ratios]. In  Industry norms and key business ratios .

Mergent Manual

Mergent. (2018). Dell Technologies. In Mergent OTC Unlisted Manual .  

Company information

Deutsche Bank. (2020, March 3).  Form 20-F . Mergent Intellect. https://www.mergentintellect.com/

Mergent. (n.d.) Tesla, Inc.: Company description . Mergent Intellect. Retrieved April 4, 2020, from https://www.mergentintellect.com/

Custom Search

Mergent. (n.d.). [Advanced company search: Geography U.S. - top 10 metropolitan areas; number of employees 1,000+; annual growth 5%+; industry classifications manufacturing, wholesale trade, information, finance, insurance, scientific/technical services, and management] [Data]. Mergent Intellect. Retrieved March 20, 2021, from https://www.mergentintellect.com/

Demographic Information

Claritas. (2020).  Pop-facts: Demographic trend report - Middlesex county  [Data]. Mergent Intellect. Retrieved July 27, 2020, from https://www.mergentintellect.com/

First Research Industry Profiles

Dun & Bradstreet First Research. (2020, April 27). Drug stores [Industry profile]. Mergent Intellect. https://www.mergentintellect.com/

KBR (Key Business Ratios):

Dun & Bradstreet. (n.d.). SIC 7997 Membership sports and recreation clubs: Industry quartile data [Industry Ratios]. Mergent Intellect. Retrieved July 15, 2020, from https://www.mergentintellect.com/

Dun & Bradsteet. (n.d.). Southwest Airlines [Company Ratios]. Mergent Intellect. Retrieved July 15, 2020, from https://www.mergentintellect.com/

Company and Industry Information

Mergent. (n.d.). Apple, Inc.: Ownership [Company profile]. Mergent Online. Retrieved July 19, 2020, from https://mergentonline.com/

Mergent. (2020, March). Technology: North America [Industry profile]. Mergent Online. https://mergentonline.com/

Mergent. (2020, August 6). Apple, Inc.: Mergent fundamental report . Mergent Online. Retrieved August 7, 2020, https://mergentonline.com/

Country Reports

Dun & Bradstreet. (2020, March). Country insight report: Ghana . Mergent Online. https://mergentonline.com/

Mergent. (2019) . Country profile: Ghana . Mergent Online. https://mergentonline.com/

Government Filings

Apple Inc. (2020, July 31). Form 10-Q . Mergent Online. https://mergentonline.com/

Investext & Broker Research Reports

J. P. Morgan. (2020, August 3).  Payments: Interesting chess move by Apple buying Mobeewave to turn iPhones into POS devices . Mergent Online. https://mergentonline.com/

MarketLine. (2020, June). Apple, Inc.: MarketLine strategy, SWOT and corporate finance report . Mergent Online.  https://mergentonline.com/

Zacks. (2020, July 28).  Apple, Inc.: Zacks company report . Mergent Online. https://mergentonline.com/

Owen, J. (2023). Pet food - US - 2023 . Mintel. https://www.mintel.com/

Dubina, L. (2023, June 16). Marketing to LGBTQ+ communities in today's divisive climate . Mintel. https://www.mintel.com/

Crosstabs Note: Because it would be very difficult to provide a title that describes all of the variables included in a custom crosstab analysis, simply list the name of the study used as the title.

Catalyst platform:

MRI-Simmons. (2021). 2021 Fall MRI-Simmons USA [Data set]. MRI-Simmons Catalyst. https://www.mrisimmons.com/

MRI-Simmons. (2021).  2021 Fall MRI-Simmons Connect [Data set]. MRI-Simmons Catalyst. https://www.mrisimmons.com/

Insights platform:

MRI-Simmons. (2020). Fall 2020 NHCS adult study 12 month [Data set]. MRI-Simmons Insights. https://www.mrisimmons.com/

MRI-Simmons. (2019). Fall 2019 Simmons Connect Plus [Data set]. MRI-Simmons Insights. https://www.mrisimmons.com/

Quick Reports

MRI-Simmons. (2021). Demographic profile quick report: Theme parks - visited in last 12 months- Walt Disney World (Florida) - Magic Kingdom  (2021 Fall MRI-Simmons USA) [Data set]. MRI-Simmons Catalyst. https://www.mrisimmons.com/

MRI-Simmons. (2021). Social media activity profile quick report: Sparkling water/seltzer - type/total users drank in last 6 Months - flavored (2021 Fall MRI-Simmons Connect) [Data set]. MRI-Simmons Catalyst. https://www.mrisimmons.com/

MRI-Simmons. (2020).  Demographic profile quick report: Fast food restaurants visit most often Dunkin' Donuts (Fall 2020 NHCS adult study 12 month) [Data set]. MRI-Simmons Insights. https://www.mrisimmons.com/

MRI-Simmons. (2019). Social media profile quick report: National Football League (NFL) very interested (Fall 2019 Simmons Connect Plus study) [Data set]. MRI-Simmons Insights. https://www.mrisimmons.com/

Note: If the article is from a news website  that does not have an associated daily or weekly newspaper  (e.g. MSNBC, CNET), use the format for a webpage on a news website instead.

Newspaper article retrieved from the newspaper's website:

Bradsher, K. (2023, July 20). Why heat waves are deepening China’s addiction to coal. The New York Times . https://www.nytimes.com/2023/07/20/business/china-coal-climate-change.html

Newspaper article from print version or from print edition retrieved via a library database (e.g. ProQuest US Newsstream database):

Bradsher, K. (2023, July 21). Heat waves deepen China's dependence on coal.  The New York Times , B1.

Stein, J., & Bhattarai, A. (2023, July 28). Recession fears ease as GDP growth beats forecast. The Washington Post , A1, A13. 

Newspaper article that is retrieved via a library database that is missing page numbers:

Weisman, R. (2023, Jul 13). No more outsourcing? Making drugs locally is a key focus of the life sciences industry. The Boston Globe .

• see more Newspaper Article examples on the APA website

LexisNexis company dossiers pull together information from different sources, some published by LexisNexis (e.g. Corporate Affiliations ) and some from outside publishers (e.g. Gale, Morningstar, MarketLine).  Cite the publisher of the information you used .  Articles retrieved from LexisNexis Academic are cited according the guidelines for Article Without a DOI, from an Academic Database or Print Version  as shown in above on this page.

Company Dossiers/Company Info search

Comparably. (July 31, 2020). The TJX Companies, Inc . Nexis Uni. https://www.lexisnexis.com/

LexisNexis. (2019, November 18). Amazon [Company profile]. Corporate Affiliations . https://www.lexisnexis.com/

Weiss Ratings. (2020, June 23). VMware Inc.  Weiss Stock Research Reports . Nexis Uni. https://www.lexisnexis.com/

Create a Company list

LexisNexis. (n.d). [List of Fortune 500 companies headquartered in Massachusetts]. Retrieved August 5, 2020, from https://www.lexisnexis.com/

Part of the purpose of a reference is to lead your reader back to the source you used, but in some cases a source may not be retrievable . (e.g. private letters and email, personal conversations, phone calls, interviews and unrecorded webinars). These sources are treated as  personal communications . 

Because they do not provide recoverable data, personal communications are not included in the reference list. Cite personal communications in-text only. The in-text citation should include the initials and last name of the person and the date of the communication.

Examples of in-text citations for a personal communication:

J. Smith (personal communication, January 5, 2020) described how his company connected with customers through storytelling.

One of the key ways that a brand can connect with customers is through storytelling (J. Smith, personal communication, January 5, 2020).

• see more Personal Communications examples on the APA Style website

Plunkett, J. W., Plunkett, M. B., Steinberg, J. S., Faulk, J., & Snider, I. J. (n.d.). GrubHub Inc . [Company profile]. Plunkett Research Online. Retrieved August 7, 2020, from http://www.plunkettresearchonline.com

Note: we recommend including a retrieval date for the industry information because it is not archived.

Plunkett, J. W., Plunkett, M. B., & Snider, I. J. (2020, March 18). The sharing & gig economy's effect on employment, work life and careers.  Sharing Economy Industry . Plunkett Research Online. Retrieved August 7, 2020, from http://www.plunkettresearchonline.com

Raz, G. (Host). (2016-present). How I built this with Guy Raz  [Audio podcast]. NPR. https://www.npr.org/podcasts/510313/how-i-built-this

Favreau, J., Lovett, J., & Vietor, T. (Hosts). (2020, June 1). Justice for George Floyd [Audio podcast episode]. In  Pod Save America . Crooked Media. https://crooked.com/podcast/justice-for-george-floyd/

• See more Podcast References examples on the APA Style website
• Citing a transcript of a podcast? See Transcript of an Audiovisual Work References examples on the APA Style website

PowerPoint slides available online

Ogilvy Consulting. (2020, January 26). What's next: Social media trends 2020 [Slides]. Slideshare. https://www.slideshare.net/socialogilvy/whats-next-social-media-trends-2020

PowerPoint Slides and documents posted on your Brightspace course site 

If the slides come from a classroom website, learning management system (e.g., Brightspace) or company intranet that your reader can access, provide the name of the site and its URL (use the login page URL for sites requiring login). If the audience for which are you writing does not have access to the documents, cite them as a  personal communication .

AAA Exterminators. (2023, August 27). Company presentation [PowerPoint slides]. GB320 Brightspace course site. https://brightspace.bentley.edu/

Abdul, M. (2023). Customer value proposition [Lecture notes]. HI308 Brightspace course site. https://brightspace.bentley.edu/

• see more PowerPoint Slides and Lecture Notes References examples on the APA Style website

Chipotle Mexican Grill. (2021, March 4).  Chipotle announces executive compensation metrics tied to sustainability goals [Press release]. https://newsroom.chipotle.com/2021-03-04-CHIPOTLE-ANNOUNCES-EXECUTIVE-COMPENSATION-METRICS-TIED-TO-SUSTAINABILITY-GOALS 

• see more Press Release References examples on the APA Style website

PrivCo. (n.d.). Epic Games Inc. [Company profile]. Retrieved August 7, 2020, from https://system.privco.com/

Report with Group Author

Committee for Economic Development of the Conference Board. (2018, April 11).  Helping skilled workers return to work following a career break: Tapping under-utilized talent to grow the economy . https://www.ced.org/reports/helping-skilled-workers-return-to-work-following-a-career-break

Report with Individual Author

Foster, Trish. (2019, Fall). The workplace journey: Caregiving, career breaks, and reentry . Gloria Cordes Larson Center for Women and Business, Bentley University.  https://bentleydownloads.s3.amazonaws.com/cwb/CWB_Workplace_Reentry_Research_Report_Fall_2019.pdf

White Paper with Group Author

IBM. (2018, May). The path to data veracity: How to build a trusted analytics foundation [White paper]. https://www.ibmbigdatahub.com/sites/default/files/whitepapers_reports_file/the-path-to-data-veracity-hybrid-cloud-white-paper-72016072usen.pdf

White Paper with Individual Authors

Lava, S., & Marden, M. (2020, July). The business value of improved performance and efficiency with Google Cloud Platform [White paper]. IDC. https://cloud.google.com/resources/idc-business-value-whitepaper  

• see more Report with Individual Authors References examples on the APA Style website
• see more White Paper References examples on the APA Style website

* Note: See the Government Reports box above for example of reports by government agencies. 

Miller, R. K., & Washington, K. (2020). Sports marketing 2020-2021 . Richard K. Miller & Associates.

Standard & Poor's. (n.d.). Tenet Healthcare [Company profile]. S&P Capital IQ NetAdvantage. Retrieved August 10, 2020, from https://www.capitaliq.com/

Standard & Poor's. (n.d.). Tenet Healthcare [Company ratios]. S&P Capital IQ NetAdvantage. Retrieved August 10, 2020, from https://www.capitaliq.com/

Tenet Healthcare. (2019, December 31). Form 10-K . S&P Capital IQ NetAdvantage. https://www.capitaliq.com/

Industry Survey

Meyer, P., & Ko, W. (2020, June). Health care facilities. CFRA Industry Surveys . S&P Capital IQ NetAdvantage. https://www.capitaliq.com/

Stock Report

CFRA. (2020, August 6). Tenet Healthcare [Stock report]. S&P Capital IQ NetAdvantage. https://www.capitaliq.com/

Garcia-Borbón, A. F. (2024). T aylor Swift’s Eras tour: A multidimensional impact on music, society, and identity . Sage Business Cases. https://doi.org/10.4135/9781071940846

• see Facebook References examples on the APA Style website
• see Instagram References Examples on the APA Style website
• see LinkedIn References examples on the APA Style website
• see Online Forum (e.g., Reddit) References examples on the APA Style website
• see TikTok References Examples on the APA Style website
• see Twitter References examples on the APA Style website

National Sporting Goods Association. (n.d.). Soccer balls: Market size, total consumer purchases  [Data]. Sports Market Analytics. Retrieved July 14, 2020, from https://sportsmarketanalytics.com/

SBRNet. (n.d.). Soccer: MLS fan market summary  [Data]. Sports Market Analytics. Retrieved July 14, 2020, from https://sportsmarketanalytics.com/

SFIA. (2021).  Soccer: Participation by total age group (% of part.), 2018  [Data]. Sports Market Analytics. https://sportsmarketanalytics.com/

SFIA. (2021). Basketball: Total participation, 2020  [Data]. Sports Market Analytics. https://sportsmarketanalytics.com/

Sport and Fitness Industry Association. (2021). SFIA sports, fitness, and leisure activities topline participation report 2021 . https://sportsmarketanalytics.com/

SRDS Media/Publication reports

SRDS. (n.d.). Advertising Age [Publication profile]. Retrieved July 14, 2020, from https://next.srds.com

SRDS. (2018). Boston, MA/Manchester, NH   DMA [DMA profile]. Retrieved July 14, 2020, from https://next.srds.com

SQAD. (2020).  Boston, MA/Manchester, NH DMA  [SQAD report - TV households]. SRDS. Retrieved July 14, 2020, from https://next.srds.com

Claritas 360 reports

Claritas. (2017). Pop facts demographics report: Middlesex County  [Data]. Retrieved January 29, 2019, from https://claritas360.claritas.com/

Claritas. (2019). Market potential report: Alcohol in analysis area Boston, et al MA-NH DMA [Data]. Retrieved January 29, 2019, from https://claritas360.claritas.com/

Statista contains content from a variety of sources in addition to publishing their own dossiers and reports. Look in the Source section for “Survey by” to identify the author of the information you are citing.

PwC. (2019, July).  Global eSports revenue in 2023 by segment  (in millions US dollars) [Chart]. Statista. https://www.statista.com/

McCarthy, N. (August 7, 2020). Covid-19's widespread impact on mental health [Infographic]. Statista. https://www.statista.com/

Statista. (2020). Social media usage worldwide [Dossier]. https://www.statista.com/

Statista. (2020, June). Bottled water - United States [Consumer market outlook]. https://www.statista.com/

National Center for Education Statistics (2020). College enrollment by sex and attendance status: 2000 to 2017 (by age, selected years, as of fall). [Data]. In  ProQuest Statistical Abstract of the U.S.  

U.S. Census Bureau. (2018). All Sectors: County Business Patterns by Legal Form of Organization and Employment Size Class for U.S., States, and Selected Geographies 2018:  Middlesex County, MA (Table CB1800CBP) [Data]. https://data.census.gov/cedsci/table?d=ANN%20Business%20Patterns%20County%20Business%20Patterns&table=CB1800CBP&tid=CBP2018.CB1800CBP&hidePreview=true& lastDisplayedRow=18&g=0500000US25017

U.S. Census Bureau. (2018).  Selected social characteristics, American Community Survey 5-Year estimate s: San Antonio, TX (Table DP02) [Data]. https://data.census.gov/cedsci/table?q=San%20Antonio%20city,%20Texas&g=1600000US4865000&hidePreview= true&tid=ACSDP5Y2018.DP02&table=DP02

U. S. Cenus Bureau. (n.d.). Quick facts: Waltham, MA [Data]. Retrieved August 9, from https://www.census.gov/quickfacts/fact/table/walthamcitymassachusetts,US/PST045219

U. S. Census Bureau. (n .d.) Profile: Chicago, IL  [Data]. Retrieved August 9, 2020, from https://data.census.gov/cedsci/profile?q=Chicago%20city,%20Illinois&g=1600000US1714000

Note: We recommend retrieving the PDF version to help with finding the date of the report.

Value Line. (2020, July 17). Coca-Cola . Value Line Research Center. https://valueline.com/

Describe the work in square brackets in the title element. It is not necessary to specify how you watch a film (e.g. in a theater or streaming online), however you may include any special information in the format description (e.g. Film; Director's Cut).

Film or Video

Tarantino, Q. (Director). (2019).  Once upon a time...in Hollywood [Film]. Heyday Films; Bona Film Group; Columbia Pictures. 

Bateman, J., Dubuque, B., & Williams, M. (Executive Producers). (2017-present). Ozark [TV series]. Zero Gravity Management; Media Rights Capital (MRC); Netflix.

Films on Demand database

HBO. (2007).  Little Rock Central High: 50 years later [Film]. Films on Demand. https://fod.infobase.com/

NewsHour Productions. (2018).  Climate activist Greta Thunberg on the power of a movement [Video]. Films on Demand. https://fod.infobase.com/

CHOICE Media Channel. (2019, October 25). What’s new in APA style—Inside the seventh edition of the Publication Manual of the APA [Video]. YouTube. https://www.youtube.com/watch?v=jOVZp8m0PCM

• see more Film and Television References examples on the APA Style website
• see more YouTube References examples on the APA Style website
• see TED Talk References examples on the APA Style website

Use this format only for recorded, retrievable webinars . Cite unrecorded webinars as personal communications. 

Neher, K. (2019, September 28).  Design a customer experience transformation [Webinar]. Harvard Business Review. https://hbr.org/webinar/2018/10/design-a-customer-experience-transformation

Many types of works can be retrieved online, including articles, books, data sets, and reports. Use the "webpages" and "websites" category only when the work does not fall into a different category . 

General guidelines:

• Do not create references or in-text citations for whole websites. To mention a website in general, and not any particular information on that site, provide the name of the website in the text and include the URL in parentheses. For example, you might mention that you used Qualtrics to create a survey. See an example here:  https://apastyle.apa.org/style-grammar-guidelines/references/examples/whole-website-references
• If a webpage does not have a date use (n.d.)
• If a work on a webpage does not have an author, begin the citation with the title. 
• Note about retrieval dates:  Include a retrieval date in the reference if the work is unarchived and designed to change over time.
• Use this format for articles from news websites that are not associated with daily or weekly newspapers. For example, BBC News, Bloomberg, CNN, HuffPost, Reuters, Salon, and Vox. These sites do not have associated daily or weekly newspapers.
• Use the newspaper article category for articles from newspaper websites such as  The New York Times  or  The Washington Post .

Bradham, B. (2020, July 29).  How the pandemic may change ‘work-life balance’ forever . Bloomberg. https://www.bloomberg.com/news/articles/2020-07-29/how-the-pandemic-is-changing-the-world-of-work-life-balance

Edgington, T. (2020, July 13).  Brexit: All you need to know about the UK leaving the EU . BBC. https://www.bbc.com/news/uk-politics-32810887

Remy, N., Speelman, E., & Swartz, S. (2016, October 20).  Style that’s sustainable: A new fast-fashion formula . McKinsey Sustainability. https://www.mckinsey.com/capabilities/sustainability/our-insights/style-thats-sustainable-a-new-fast-fashion-formula#/

• When the author and site are the same, omit the site name from the source element. 

Centers for Disease Control and Prevention. (2009). CDC recommendations for the amount of time persons with influenza-like illness should be away from others . http://www.cdc.gov/h1n1flu/guidance/exclusion.htm

Facebook. (2020, January 30). Form 10-K . https://investor.fb.com/financials/default.aspx

JetBlue. (2018). 2018 environmental social governance report . https://www.jetblue.com/magnoliapublic/dam/ui-assets/imagery/info-assets/JetBlue-Environmental-Social-Governance-2018_v2.pdf

Patagonia. (n.d.) Core values . https://www.patagonia.com/core-values/

• When contents of a page are designed to change over time but are not archived, include a retrieval date in the reference.

U.S. Census Bureau. (n.d.).  U.S. and world population clock . U.S. Department of Commerce. Retrieved July 31, 2020, from https://www.census.gov/popclock/

• see more Webpage on a Website References examples on the APA Style website

This database contains data from a variety of sources (e. g. World Bank, UNICEF, UNESCO). Cite the original source of the data in the author element.

World Bank Group. (n.d.). Costa Rica (Country profile) [Data]. World Development Indicators. Retrieved August 5, 2020, from https://data.worldbank.org/

UNESCO Institute for Statistics. (n.d.).  Literacy rate, adult female (% of females ages 15 and above) - Costa Rica [Data]. World Development Indicators. Retrieved August 5, 2020, from https://data.worldbank.org/

• << Previous: Using APA Style
• Next: APA In-text Citation Examples >>
• Last Updated: Oct 2, 2024 10:55 AM
• URL: https://libguides.bentley.edu/citingsources-apa

• Meriam Library

Citing Business Sources | APA Style

• APA for Business: Reference List Examples

Annual Report

Article in print or pdf, article from database with doi, article from database without doi, marketresearch.com academic, mergent online, privco (cited from pdf), swot analysis from business source premier, u.s. census bureau.

• Other APA Guides
• Citation Management Tools

Microsoft Corporation. (2007).  Annual Report.  Retrieved     from  https://www.microsoft.com/investor/reports/ar07/staticversion/index.html

Ericson, T.J. Alsop, R., Nicholson, P., & Miller, J. (2009). Gen Y in the workplace. Harvard Business Review, 87(2), 43-49.

Twenge, J.M. & Campbell S.M (2009). Generational differences in psychological traits and their impact on the workplace. Journal of Managerial Psychology, 23(8), 862-877.doi:10.1108/02683940810904367

Ericson, T.J. Alsop, R., Nicholson, P., & Miller, J. (2009). Gen Y in the workplace. Harvard Business Review , 87(2), 43-49. Retrieved February 10, 2009 from Business Source Premier database.

BizMiner. (2015, June). Industry Financial Report (5 year); All US; [713940]Fitness and Recreational Sports Centers; Sector: Arts-Entertainment Recreation; Sales Class: $25m-$49.9m.  Retrieved from Bizminer database.

Conniff, R. (2005). The ape in the corner office: Understanding the workplace beast in all of us. New York: Crown Business.

Zwolak, Roman. (2010). Bowling alleys in the US (IBISWorld Industry Report 71395) .  Retrieved from IBISWorld database.

Packaged Facts. (2017, November). Online grocery shopping in the U.S. Retrieved from MarketResearch.com Academic database.

Mergent, Inc. (n.d.). Apple, Inc.: Company details. Retrieved September 28, 2015 from Mergent Online .  

Mintel. (2009). Ice cream and frozen novelties – US – May 2009. Retrieved from Mintel Oxygen database.

PrivCo. (2015, September 24). Uber Technologies, Inc.: Private company financial report.  Retrieved from PrivCo database.

MarketLine. (2015, May 1). McDonald's Corporation . [Company profile]. Retrieved from Business Source Premier database.

U.S. Census Bureau. (2008). 2008 Zip Code business patterns (NAICS). Retrieved from  http://censtats.census.gov/cbpnaic/cbpnaic.shtml .

U.S. Census Bureau. (2008-2012). Chico city, California: ACS demographic and housing estimates. American Community Survey 5-year estimates. Retrieved from http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ACS_12_5YR_DP05 .

National Restaurant Association (2008, November 14). Restaurant industry at a glance. Retrieved December 10, 2008 from http://www.restaurant.org/research/ind_glance.cfm .  

U.S. Department of Commerce. (2009, March 31). Doing business in Argentina: 2009 country commercial guide for U.S. companies. Retrieved from http://www.export.gov/.

NOTE:  Use the PDF version of an online report to determine the date. If not available, use the abbreviation for "no date" (n.d.) and include the date of retreval in the last line with the database name.  

• Next: No Date? >>
• Last Updated: Oct 23, 2024 8:56 PM
• URL: https://libguides.csuchico.edu/citingbusiness

Meriam Library | CSU, Chico

18 of My Favorite Sample Business Plans & Examples For Your Inspiration

Updated: July 01, 2024

Published: November 08, 2018

I believe that reading sample business plans is essential when writing your own.

hbspt.cta._relativeUrls=true;hbspt.cta.load(53, 'e9d2eacb-6b01-423a-bf7a-19d42ba77eaa', {"useNewLoader":"true","region":"na1"});

As you explore business plan examples from real companies and brands, it’s easier for you to learn how to write a good one.

So what does a good business plan look like? And how do you write one that’s both viable and convincing? I’ll walk you through the ideal business plan format along with some examples to help you get started.

Table of Contents

Business Plan Types

Business plan format, sample business plan: section by section, sample business plan templates, top business plan examples.

Ultimately, the format of your business plan will vary based on your goals for that plan. I’ve added this quick review of different business plan types that achieve differing goals.

For a more detailed exploration of business plan types, you can check out this post .

Free Business Plan Template

The essential document for starting a business -- custom built for your needs.

• Outline your idea.
• Pitch to investors.
• Secure funding.
• Get to work!

Download Free

All fields are required.

You're all set!

Click this link to access this resource at any time.

1. Startups

Startup business plans are for proposing new business ideas. If you’re planning to start a small business, preparing a business plan is crucial. The plan should include all the major factors of your business.

You can check out this guide for more detailed business plan inspiration .

2. Feasibility Studies

Feasibility business plans focus on that business's product or service. Feasibility plans are sometimes added to startup business plans. They can also be a new business plan for an already thriving organization.

3. Internal Use

You can use internal business plans to share goals, strategies, or performance updates with stakeholders. In my opinion, internal business plans are useful for alignment and building support for ambitious goals.

4. Strategic Initiatives

A strategic business plan is another business plan that's often shared internally. This plan covers long-term business objectives that might not have been included in the startup business plan.

5. Business Acquisition or Repositioning

When a business is moving forward with an acquisition or repositioning, it may need extra structure and support. These types of business plans expand on a company's acquisition or repositioning strategy.

Growth sometimes just happens as a business continues operations. But more often, a business needs to create a structure with specific targets to meet set goals for expansion. This business plan type can help a business focus on short-term growth goals and align resources with those goals.

I’m going to focus on a startup business plan that needs to be detailed and research-backed as well as compelling enough to convince investors to offer funding. In my experience, the most comprehensive and convincing business plans contain the following sections.

Executive Summary

This all-important introduction to your business plan sets the tone and includes the company description as well as what you will be exchanging for money — whether that’s product lines, services, or product-service hybrids.

Market Opportunity

Information about gaps in your industry’s market and how you plan to fill them, focused on demand and potential for growth.

Competitive Landscape Analysis

An overview of your competitors that includes consideration of their strengths and how you’ll manage them, their weaknesses and how you’ll capitalize on them, and how you can differentiate your offerings in the industry.

Target Audience

Descriptions of your ideal customers, their various problems that you can solve, and your customer acquisition strategy.

Marketing Strategy

This section details how you will market your brand to achieve specific goals, the channels and tactics you’ll utilize to reach those goals, and the metrics you’ll be using to measure your progress.

Key Features and Benefits

This is where you’ll use plain language to emphasize the value of your product/service, how it solves the problems of your target audiences, and how you’ll scale up over time.

Pricing and Revenue

This section describes your pricing strategy and plans for building revenue streams that fit your audiences while achieving your business goals.

This is the final section, communicating with investors that your business idea is worth investing in via profit/loss statements, cash flow statements, and balance sheets to prove viability.

Okay, so now that we have a format established, I’ll give you more specific details about each section along with examples. Truthfully, I wish I’d had this resource to help me flesh out those first business plans long ago.

1. Executive Summary

I’d say the executive summary is the most important section of the entire business plan. It is essentially an overview of and introduction to your entire project.

Write this in such a way that it grabs your readers' attention and guides them through the rest of the business plan. This is important because a business plan can be dozens or hundreds of pages long.

There are two main elements I’d recommend including in your executive summary: your company description and your products and services.

Company Description

This is the perfect space to highlight your company’s mission statement and goals, a brief overview of your history and leadership, and your top accomplishments as a business.

Tell potential investors who you are and why what you do matters. Naturally, they’re going to want to know who they’re getting into business with up front. This is a great opportunity to showcase your impact.

Need some extra help firming up your business goals? I’d recommend HubSpot Academy’s free course to help you set meaningful goals that matter most for your business.

Products and Services

Here, you will incorporate an overview of your offerings. This doesn’t have to be extensive, as it is just a chance to introduce your industry and overall purpose as a business. I recommend including snippets of information about your financial projections and competitive advantage here as well.

Keep in mind that you'll cover many of these topics in more detail later on in the business plan. The executive summary should be clear and brief, only including the most important takeaways.

Executive Summary Business Plan Examples

This example was created with HubSpot’s business plan template . What makes this executive summary good is that it tells potential investors a short story while still covering all of the most important details.

Our Mission

Maria’s Gluten Free Bagels offers gluten-free bagels, along with various toppings, other gluten-free breakfast sandwich items, and coffee. The facility is entirely gluten free. Our team expects to catch the interest of gluten-free, celiac, or health-conscious community members who are seeking an enjoyable cafe to socialize. Due to a lack of gluten-free bagel products in the food industry currently, we expect mild competition and are confident we will be able to build a strong market position.

The Company and Management

Maria’s Gluten Free Bagels was founded in 2010 by Maria Jones, who first began selling her gluten-free bagels online from her home, using social media to spread the word. In 2012 she bought a retail location in Hamilton, MA, which now employs four full-time employees and six part-time employees. Prior to her bagel shop, Maria was a chef in New York and has extensive experience in the food industry.

Along with Maria Jones, Gluten Free Bagel Shop has a board of advisors. The advisors are:

• Jeni King, partner at Winding Communications, Ltd.
• Henry Wilson, president of Blue Robin, LLP.

Our Product

We offer gluten-free products ranging from bagels and cream cheese to blueberry muffins, coffee, and pastries. Our customers are health-conscious, community-oriented people who enjoy gluten-free products. We will create a welcoming, warm environment with opportunities for open mic nights, poetry readings, and other community functions. We will focus on creating an environment in which someone feels comfortable meeting a friend for lunch, or working remotely.

Our Competitive Advantages

While there are other coffee shops and cafes in the North Shore region, there are none that offer purely gluten-free options. This restricts those suffering from gluten-free illnesses or simply those with a gluten-free preference. This will be our primary selling point. Additionally, our market research [see Section 3] has shown a demand for a community-oriented coffee and bagel shop in the town of Hamilton, MA.

Financial Considerations

Our sales projections for the first year are $400,000. We project a 15% growth rate over the next two years. By year three, we project 61% gross margins.

We will have four full-time employees. The salary for each employee will be $50,000.

Start-up Financing Requirements

We are seeking to raise $125,000 in startup to finance year one. The owner has invested $50,000 to meet working capital requirements, and will use a loan of $100,000 to supplement the rest.

Example 2 :

Marianne and Keith Bean have been involved with the food industry for several years. They opened their first restaurant in Antlers, Oklahoma in 1981, and their second in Hugo in 1988. Although praised for the quality of many of the items on their menu, they have attained a special notoriety for their desserts. After years of requests for their flavored whipped cream toppings, they have decided to pursue marketing these products separately from the restaurants.

Marianne and Keith Bean have developed several recipes for flavored whipped cream topping. They include chocolate, raspberry, cinnamon almond, and strawberry. These flavored dessert toppings have been used in the setting of their two restaurants over the past 18 years, and have been produced in large quantities. The estimated shelf life of the product is 21 days at refrigeration temperatures and up to six months when frozen. The Beans intend to market this product in its frozen state in 8 and 12-ounce plastic tubs. They also intend to have the products available in six ounce pressurized cans. Special attention has been given to developing an attractive label that will stress the gourmet/specialty nature of the products.

Distribution of Fancy's Foods Whipped Dream product will begin in the local southeastern Oklahoma area. The Beans have an established name and reputation in this area, and product introduction should encounter little resistance.

Financial analyses show that the company will have both a positive cash flow and profit in the first year. The expected return on equity in the first year is 10.88%

Tips for Writing Your Executive Summary

• Start with a strong introduction of your company that showcases your mission and impact, then outline the products and services you provide.
• Clearly define a problem, explain how your product solves that problem, and show why the market needs your business.
• Be sure to highlight your value proposition, market opportunity, and growth potential.
• Keep it concise and support ideas with data.
• Customize your summary to your audience. For example, you might emphasize finances and return on investment for venture capitalists, whereas you might emphasize community benefits and minimal environmental impact for progressive nonprofits.

For more guidance, check out our tips for writing an effective executive summary .

2. Market Opportunity

This is where you'll detail the opportunity in the market. Ask and answer: Where is the gap in the current industry, and how will my product fill that gap?

To get a thorough understanding of the market opportunity, you'll want to conduct a TAM, SAM, SOM analysis , a SWOT analysis , and perform market research on your industry to get some insights for this section. More specifically, here’s what I’d include.

• The size of the market
• Current or potential market share
• Trends in the industry and consumer behavior
• Where the gap is
• What caused the gap
• How you intend to fill it

Market Opportunity Business Plan Example

I like this example because it uses critical data to underline the size of the potential market and what part of that market this service hopes to capture.

Example: The market for Doggie Pause is all of the dog owners in the metropolitan area and surrounding areas of the city. We believe that this is going to be 2/3 of the population, and we have a goal of gaining a 50% market share. We have a target of a 20% yearly profit increase as the business continues.

Tips for Writing Your Market Opportunity Section

• Focus on demand and potential for growth.
• Use market research, surveys, and industry trend data to support your market forecast and projections.
• Add a review of regulation shifts, tech advances, and consumer behavior changes.
• Refer to reliable sources.
• Showcase how your business can make the most of this opportunity.

3. Competitive Landscape Analysis

Since we’re already speaking of market share, you‘ll also need to create a section that shares details on who the top competitors are. After all, your customers likely have more than one brand to choose from, and you’ll want to understand exactly why they might choose one over another.

My favorite part of performing a competitive analysis is that it can help you uncover the following:

• Industry trends that other brands may not be utilizing.
• Strengths in your competition that may be obstacles to handle.
• Weaknesses in your competition that may help you develop selling points.
• The unique proposition you bring to the market that may resonate with customers.

Competitive Landscape Business Plan Example

I like how the competitive landscape section of this business plan shows a clear outline of who the top competitors are. It also highlights specific industry knowledge and the importance of location. This demonstrates useful experience in the industry, helping to build trust in your ability to execute your business plan.

Competitive Environment

Currently, there are four primary competitors in the Greater Omaha Area: Pinot’s Palette Lakeside (franchise partner), Village Canvas and Cabernet, The Corky Canvas, and Twisted Vine Collective. The first three competitors are in Omaha and the fourth is located in Papillion.

Despite the competition, all locations have both public and private events. Each location has a few sold-out painting events each month. The Omaha locations are in new, popular retail locations, while the existing Papillion location is in a downtown business district.

There is an opportunity to take advantage of the environment and open a studio in a well-traveled or growing area. Pinot’s Palette La Vista will differentiate itself from its competitors by offering a premium experience in a high-growth, influential location.

Tips for Writing Your Competitive Landscape

• Complete in-depth research, then emphasize your most important findings.
• Compare your unique selling proposition (USP) to your direct and indirect competitors.
• Show a clear and realistic plan for product and brand differentiation.
• Look for specific advantages and barriers in the competitive landscape. Then, highlight how that information could impact your business.
• Outline growth opportunities from a competitive perspective.
• Add customer feedback and insights to support your competitive analysis.

4. Target Audience

Use this section to describe who your customer segments are in detail. What is the demographic and psychographic information of your audience? I’d recommend building a buyer persona to get in the mindset of your ideal customers and be clear about why you're targeting them. Here are some questions I’d ask myself:

• What demographics will most likely need/buy your product or service?
• What are the psychographics of this audience? (Desires, triggering events, etc.)
• Why are your offerings valuable to them?

Target Audience Business Plan Example

I like the example below because it uses in-depth research to draw conclusions about audience priorities. It also analyzes how to create the right content for this audience.

The Audience

Recognize that audiences are often already aware of important issues. Outreach materials should:

• Emphasize a pollution-prevention practice
• Tell audience a little about how to prevent pollution
• Tell audience where they can obtain information about prevention.

Message Content

• Focus the content for outreach materials on cost savings, such as when and where pollution prevention is as cheap as or cheaper than traditional techniques. Include facts and figures.
• Emphasize how easy it is to do the right thing and the impacts of not engaging in pollution prevention.
• Stress benefits such as efficiency or better relations with government, for businesses not primarily concerned with public image.

Tips for Writing Your Target Audience Section

• Include details on the size and growth potential of your target audience.
• Figure out and refine the pain points for your target audience , then show why your product is a useful solution.
• Describe your targeted customer acquisition strategy in detail.
• Share anticipated challenges your business may face in acquiring customers and how you plan to address them.
• Add case studies, testimonials, and other data to support your target audience ideas.
• Remember to consider niche audiences and segments of your target audience in your business plan.

5. Marketing Strategy

Here, you‘ll discuss how you’ll acquire new customers with your marketing strategy. I think it’s helpful to have a marketing plan built out in advance to make this part of your business plan easier. I’d suggest including these details:

• Your brand positioning vision and how you'll cultivate it.
• The goal targets you aim to achieve.
• The metrics you'll use to measure success.
• The channels and distribution tactics you'll use.

Marketing Strategy Business Plan Example

This business plan example includes the marketing strategy for the town of Gawler. In my opinion, it works because it offers a comprehensive picture of how they plan to use digital marketing to promote the community.

You’ll also learn the financial benefits investors can reap from putting money into your venture rather than trying to sell them on how great your product or service is.

This business plan guide focuses less on the individual parts of a business plan, and more on the overarching goal of writing one. For that reason, it’s one of my favorites to supplement any template you choose to use. Harvard Business Review’s guide is instrumental for both new and seasoned business owners.

7. HubSpot’s Complete Guide to Starting a Business

The Best AI Tools for Ecommerce & How They'll Boost Your Business

23 of My Favorite Free Marketing Newsletters

The 8 Best Free Flowchart Templates [+ Examples]

What is a Business Plan? Definition, Tips, and Templates

7 Gantt Chart Examples You'll Want to Copy [+ 5 Steps to Make One]

How to Write an Executive Summary Execs Can't Ignore [+ 5 Top Examples]

21 Free & Paid Small Business Tools for Any Budget

Maximizing Your Social Media Strategy: The Top Aggregator Tools to Use

The Content Aggregator Guide for 2024

16 Best Screen Recorders to Use for Collaboration

2 Essential Templates For Starting Your Business

The weekly email to help take your career to the next level. No fluff, only first-hand expert advice & useful marketing trends.

Must enter a valid email

We're committed to your privacy. HubSpot uses the information you provide to us to contact you about our relevant content, products, and services. You may unsubscribe from these communications at any time. For more information, check out our privacy policy .

This form is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

You've been subscribed

BUSI 1301 - Business Plan Project

• Getting Started
• Searching Gale Entrepreneurship
• Searching Gale Business Insights
• Searching the Wall Street Journal
• Searching Other Databases
• Free Resources Online
• Citing Your Sources in APA

Ask A Librarian

APA Style, 7th ed

Citing your sources in apa style.

"APA Style" refers to a set of rules for formatting, writing. and citing your research for an academic paper or project. The style is currently in the 7th edition. The main goal is to ensure that your citations are clear, consistent, and easy for your reader to find the sources that you cite.

In APA Style, there are two parts to every citation:

• In-text citations
• Reference List citations

In order to be correctly citing your sources, you have to make sure to include both parts in your project.

In-text Citations

• brief citations to get your reader to the References page where they can find out more
• appear within the body of your work directly following the information
• tell the reader what part of an article or book or website that you used (page numbers, video time stamps, etc) if you are directly quoting from a source

Basic In-text Citation

If paraphrasing, or putting it into your own words, you don't need to include the page numbers.

(Author, Date)

(Smith, 2021).

References List

• full citations for every work referenced in your paper
• cites the entire book, article, video, etc
• includes information about the source itself and where it can be located

For examples of all of the different types of Reference List entries, see  APA Citation Examples

Microsoft Word Citations

Microsoft Word includes a built-in Reference system that can be used to help you with your citations. 

• Create a bibliography, citations, and references Microsoft Support guide for creating citations and references using Microsoft Word

How to Build References in Microsoft Word

Adding internal citations.

• Manage Sources
• References Page

Choose Your Citation Style

• Correcting Titles for APA Style
• Place you cursor at the end of the sentence (but before the period) where you need to add a citation.
• Go to the  References  toolbar.
• In the  Citations & Bibliography  section, click on  Insert Citation .
• If this is your first time citing this source, click on  Add New Source

• This opens up the Source box. Select the type of information that you need to cite (book, journal article, website, etc.)

• Type in as much information as you have about source. Different types of sources will require different information.
• When you click into a field, check the example test below to see how you should enter the information.

• If you don't see all of the fields that you need, check the box for "Show All Bibliography fields"

• When you are finished entering the information about the source, click  OK.
• Word will add the internal citation right where your cursor was.

Editing Your Sources

If you need to go back and edit or make changes to any of your sources, you can do so through  Manage Sources .

On the  References  toolbar, under the section for  Citations & Bibliography , choose  Manage Sources.

This opens the  Source Manager  box.

All of the sources that you have added so far should be listed. Click on the one that you need to edit, and then click  Edit.

Building Your References Page

After you finished your paper and have added all of your sources to Microsoft Word, you are ready to create your Reference List. 

Adding a Reference List

• Move your cursor to the start of your new page at the end of your document.
• On the  References  toolbar, in the  Citations & Bibliography  section, click on  Bibliography .
• Select the middle option that says "References."

• This will insert a Reference list of all of the sources that you added in the paper.

• Center justify the title "References" and make it match the same font, color, and size as the rest of your paper.
• Select the title and all of the citations, and make them Double-spaced.

Updating your Reference List

If you update any of the citations in your paper, or add any new sources, after you created the Reference List, you will need to update it.

• Click within the list.
• A box will appear around it. In the top left corner, there's a button for Update Citations and Bibliography .
• Once you update your list, the formatting will go back to the default. Be sure to fix the title and double space your references again.

In Word, go to the  References  toolbar.

Under the section for  Citations and Bibliography , make sure that the  Style  is set to APA .

Correcting Titles for Proper APA Style

Microsoft's built in citations are a great tool, but they do not meet all of the style requirements of APA when it comes to capitalization. If your instructor wants you to follow strict APA rules, you will need to make some corrections.

The biggest thing is how APA wants you to capitalize titles. 

In APA, titles fall into two categories: Works that stand alone (book, report, videos, journals, etc) and Works that are part of a greater whole (articles, edited book chapters, podcase episodes, etc).

The easiest way to fix this in Word is to type the title for source as you want it to appear according to APA Style rules. Word will use whatever you enter as the "title" in the citation that it builds. 

Works that are part of a greater whole

Do not italicize or use quotation marks around the title. Just write it out.

Use regular sentence case. (Only capitalize the first word and any proper nouns like you would in a standard sentence.)

Example : The ice cream tastes of today's academics.

Works that stand alone

Italicize the title.

Use regular sentence case. (Only capitalize the first word and any proper nouns like you would in a standard sentence.)

If additional information is given with the title to help retrieve it, include it in parentheses following the title.(ex- edition, volume number) but do not italicize it.

Example:  Nursing: A concept based approach to learning  (2nd ed., Vol. 1).

Microsoft 365 for Students

Free access to microsoft 365 for lone star college students.

Lone Star College provides free access to Microsoft 365 and 1 TB of OneDrive storage to all enrolled students

• Accessing, Downloading, and Installing Microsoft 365 on a PC Step by step instructions for accessing Microsoft 365 online and downloading to your computer.
• << Previous: Free Resources Online
• Last Updated: Nov 5, 2024 4:50 PM
• URL: https://lonestar-online.libguides.com/businessplan