Strategic planning for the future isn’t just looking onwards for a year, for some businesses, managers often develop plans further than that. One good example is a 5 year business plan. This is in order to help organizations and their investors the learn, understand and justify the growth potential of their business. A 5 year business plan can be either used by start up companies or those who have been in the business for years. By creating a long-term business strategy has several advantages, for both your business and your personal finances. Read more about a 5 year business plan in our article below and if you need templates scroll down and check out our free 5 year business plan samples as well.

10+ 5 Year Business Plan Samples

1. 5 Year Business Plan Template

Details
File Format
  • MS Word
  • Google Docs
  • Pages
  • PDF

Download

2. Restaurant 5 Year Business Plan Template

Details
File Format
  • MS Word
  • Google Docs
  • Pages
  • PDF

Download

3. 5 Year Sales Business Plan Template

Details
File Format
  • MS Word
  • Google Docs
  • Pages
  • PDF

Download

4. 5 Year Business Budget Plan

Details
File Format
  • PDF

Size: 6 MB

Download

5. 5 Year Strategic Business Plan

Details
File Format
  • PDF

Size: 480 KB

Download

6. Sample 5 Year Business Plan

Details
File Format
  • PDF

Size: 184 KB

Download

7. Company 5 Year Business Plan

Details
File Format
  • PDF

Size: 148 KB

Download

8. New 5 Year Business Plan

Details
File Format
  • PDF

Size: 172 KB

Download

9. Standard 5 year Business Plan

Details
File Format
  • PDF

Size: 249 KB

Download

10. 5 Year Business Financial Plan

Details
File Format
  • PDF

Size: 258 KB

Download

11. Basic 5 Year Business Plan

Details
File Format
  • PDF

Size: 413 KB

Download

What Is a 5 Year Business Plan?

Business plans are often part of a company’s agenda, big or small. Without it, a business cannot reach its full potential and growth development. The basic purpose of business plans are communicating ideas, management guidelines and strategic planning. Successful plans explain the company strengths, industry trends and offers financial projections in a way that generates positivity towards the whole organizations. As for a 5 year business plan, establishing a long-term plan can help you determine your priorities and goals for your business.  These plans often include details that help illustrate the specific goals of a business and how they plan to achieve those goals. Investors often want to read your projected outlook towards the future, which will become a decisive factor whether they would invest in the company or not.

How To Write a 5 Year Business Plan?

Why write a 5 year business plan when you can do it yearly? Although there is nothing wrong about developing a yearly business plan, as these are good for short term goals. In some cases, business managers want to project further towards the future, hence a 5 year business plan. Also, five-year plan can help you identify any potential obstacles, as well as the possible strengths that could help propel you toward your goals. Now to develop and write a 5 year business plan, see to it that this would cover your business’s current functions and practices, as well as its goals. This includes your goals for marketing, operations and finances. A review and comparison of your past financial results and sales data, can help you forecast your company’s future growth. If you think previous trends will change because of certain interventions, explain that in your projections. To start here the following key elements that makes up a 5 year business plan.

I. Executive Summary

Start with your executive summary. Include this section at the beginning of your five-year business plan to summarize all the other sections within the plan, and to help employees and investors quickly understand the key points that you may cover within the plan.  It is the overview, summing up the main points and needs to be effective to be convincing to investors.

II. Company Overview And Mission Statement

This is a detailed overview about your company, and its products and services. A mission statement details the broad goals and visions of a business and why those goals and visions are important.

III. SWOT Analysis

By using the SWOT analysis, this will help your company identify the strengths, weaknesses, opportunities and strengths. With this information, you can start imagining how your business would handle different challenges. Consider how you can capitalize on your strengths and opportunities while minimizing the potential damage from your weaknesses and threats. You may want to include industry and consumer trends in a section about the marketplace. Demographic studies and professional industry statistics as well.

IV. Business Goals

In this section, take time to think and write about your business goals that you want to achieve in the next five years. In this way, investors can understand the the yearly process you have provided and initiatives to attain these goals.

V. Marketing Plan

Although it may see as a far off projection, an overview of your projected marketing plans will help readers understand how you plan on achieving market penetration. This should include price points, target marketing, print and media campaigns.

VI. Target Market and Competitors

Describing your target market can help readers of your five-year plan understand how you plan to market your organization’s brand in order to produce revenue and grow the organization. And knowing who your competitors are would give your company additional information that you can help come up with long term plans on how to work your way around them. Include who the main competitors are, how your company is different and how you plan on capturing market share from competitors.

VII. Management

This section may detail the names, positions, backgrounds, skills, experience and abilities of specific team members and how they plan to contribute to the organization. Including this will give readers an idea of the key players in your organization, who they are and why these people will take the company to new heights.

VIII. Financial Data

One of the most important sections in your 5 year business plan is your financial projections. This is a forecast for the expanse of 5 years on how your organization plans to perform financially, such as in terms of revenue growth, profit and expenses.

FAQs

What Is Strategic Planning?

Strategic planning determines where an organization is going over the next year or more. Here goals and objectives are identified and  creating specific business strategies, implementing them, and evaluating the results.

Why Is Business Planning Important?

The most obvious reason why business planning is important is to guide companies towards their goals and help increase their revenue. Planning keeps them focused and united, striving towards what they intend to achieve thus creating success.

What Is Short Term Planning?

As the term suggest, this refers to a three-to-six-month time frame, especially in reference to revenue and profitability.

The business market is an unpredictable place, and your business outcomes will likely differ from your current forecast. But by putting together a 5 year business plan, this will help your company focus, stay on track, which will pave way to success.

Related Posts