Free Business Plan Templates & Examples for Veterans

For veterans, a business plan is an important tool when launching or growing a business. According to research published in the Harvard Business Review, entrepreneurs who write formal business plans are 16 percent more likely to establish a viable business than those who don’t. If writing a business plan from scratch feels intimidating, start with one of these business plan templates for veterans.

What is a Business Plan & Why is One Needed?

A business plan is a formal document that explains how a company will operate, who its customers are, what it expects to earn and spend, and how it intends to grow. Business owners use their plans to guide decisions about operations, expenses, and growth. When applying for financing, they may also need to share the plan with lenders to explain how the business will generate enough revenue to repay the loan. 

A loan-ready business plan can also help owners organize the financial projections and supporting information lenders may need to evaluate a financing request.

For Small Business Administration (SBA) loans, required application documents vary by lender, but lenders commonly expect business plans, especially for startups. Lenders use the plan to assess the company’s feasibility, financial projections, and ability to repay the loan.

Business plans are organized into sections and typically contain basic details about the business, such as a mission statement, core offerings, market research, and more. Relevant sections may vary with each industry, so it’s a good idea to start with a basic document template and refer to a more specific, industry-focused plan for inspiration. 

Veterans can strengthen their business plans by showing how military experience applies to the business. Leadership, logistics, technical training, and financial management experience may all be relevant, depending on the company.

 An experienced business advisor can also identify gaps before the plan is submitted to a lender. CDC Small Business Finance offers free business advising services for all applicants.

Best Business Plan Template Options for Veterans

Veteran business owners have a few options when it comes to writing a business plan. They can use a basic business plan template, refer to an industry-focused template, or use both for a comprehensive business plan. Including the business owner’s military experience and getting feedback from advisors are extra steps business owners can take to help the business plan stand out.

Basic Business Plan Templates & Guides

A basic template acts as a generic outline for formatting a business plan and how to write basic details. For example:

• Smartsheet Business Plan Template: This free, fill-in-the-blank template provides a simple framework for organizing business goals, market research, products and services, and financial information. Available in Word and PDF formats, it can help veteran entrepreneurs develop an initial business plan without starting from scratch.
• SCORE Business Plan Template: This downloadable template includes 11 worksheets that guide entrepreneurs through market research, operations, startup costs, and financial planning. It also provides instructions for adapting a business plan to specific industries or financing needs, making it useful for veterans preparing to launch a business.
• Syracuse University Business Planning Guide: Developed specifically for veteran and military entrepreneurs, this 47-page guide explains how to prepare a detailed business plan, from market research and operations to financial projections and funding needs. It’s a useful resource for veterans to develop a more comprehensive plan for starting or growing a business.

Industry-Specific Business Plan Templates

Business plans typically follow a basic structure, but it’s important to tailor the plan to the company’s specific industry. Lenders, investors, and partners will evaluate the plan based on how well the owners understand the market. Industry-specific details, such as customer trends, competitors, and regulations, demonstrate that the business has done its due diligence. It also clarifies the company’s competitive strategy and improves the financial accuracy of cash flow projections.

The following resources include free downloadable templates and sample business plans for several industries where veterans operate businesses. Templates provide a framework for creating a plan, while examples show how businesses in a particular industry have organized their plans.

Add Military Experience

Another way to make a business plan stand out is by including the business owner’s military experience. The owner should highlight all relevant training, roles, and skills acquired in military service, and explain how it provides a competitive advantage in the business world. This information can be briefly mentioned in the executive summary and explained in more detail in the management team section.

Include these pieces:

• Background summary: Briefly describe military service, such as branch, rank, years of service, and specialty.
• Leadership experience: Emphasize team leadership, strategic planning, logistics, or operations management roles.
• Relevant training: Include technical certifications, specialized skills related to the business, or security clearances (if applicable).
• SBA certifications: Veteran-owned small businesses and service-disabled veteran-owned small businesses can go through VetCert, a federal contracting certification through the SBA that can qualify a business for special federal contract opportunities. Adding it to a business plan signals credibility and a competitive advantage for federal contractors.
• Transferable skills: Explain any soft and hard skills that translate from military service to running the business. Examples include leadership, adaptability, discipline, resilience, and any training or certifications earned related to the business.

The Bottom Line

Starting with a template can make it easier for veteran business owners to outline their strategies and financing needs, but it can be a good idea to customize the plan for a specific industry and include the business owner’s military experience. Then, having an experienced advisor review the business plan can help identify gaps and areas for improvement.

Veterans can access this type of service and more through a local Veterans Business Outreach Center. For more in-depth training, veteran-specific business programs are available from Boots to Business and the Institute for Veterans and Military Families. SCORE is also a good resource for new entrepreneurs. Lenders can also provide feedback on business plans.

Additionally, once entrepreneurs are ready to apply for a loan with CDC Small Business Finance, they can access our Small Business Advisors in addition to our loan experts.