How to Create a Business Plan for Expansion

by Leslie Truex, Demand Media Google
Getting money to expand your business starts with a professional business plan.


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Expanding your business is an exciting proposition. It means it's doing well and ready to grow to the next level. But often a business needs financial support to implement expansion ideas. A professional business plan that outlines the expansion details can earn the money needed to grow the business.

Step 1

Write an executive summary that outlines the business' history, including its successes and accomplishments. It should also cover the business' goals, current facilities and equipment, and employees. Include information on the proposed expansion, such as a larger facility or new equipment.

Step 2

Describe your target market by demographics, such as age, gender and socioeconomic status. Indicate your current marketing tactics and how they are implemented. If you'll be changing your marketing plan with the expansion, outline these changes.

Step 3

Provide details about your competition, including differences and similarities in services, target market and marketing tactics. Focus on how your business is unique from others that offer the same type of service or products. Elaborate on how your expansion will set your business apart from the competition.

Step 4

Provide information about your management team. Give their names, duties to the business and information about their skills or training as it related to the business. If you'll be taking on new partners or managers in the expansion, provide details on the duties and attributes to the business.

Step 5

Outline the daily operations of the business. Describe the day-to-day activities, such as providing services and marketing, as well as who is responsible for assuring these activities are completed. If the daily activities will change with the proposed expansion, provide information on what will be different.

Step 6

Provide financial details about the business, including current statements that show expenses and income, and net worth. Outline the costs related to the expansion as well as projected profits over the next year.

Step 7

Include an appendix for supplemental materials that don't fit in the other sections. For example, if your expansion is adding on to or building a facility, include blueprints of the proposed project. This section is also used to provide other documents, such as permits.

Step 8

Create a professional business plan document to show to bankers and potential investors. Use quality paper and binding, and make sure it's easy to read and free of errors.

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