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| Simple business plans help you start smarter not harder. |
A short, practical business plan is the fastest way to move from idea to action. This guide shows a simple 7-part format and includes a full example you can copy and adapt for your own business.
A business plan doesn’t have to be long or complicated. It should simply explain what you want to sell, who will buy it, how you’ll make money and what you need to start. Whether you’re launching a side hustle, a service or a small shop, a clear plan gives you direction and helps you avoid costly mistakes.
Why You Need a Simple Business Plan
A simple business plan helps you:
- Understand your idea clearly
- Avoid wasting money on the wrong things
- Identify your customers and how to reach them
- Set realistic goals and track progress
- Attract small investors, partners or supporters
The 7 Parts of a Simple Business Plan
Use this short, practical structure for any small business or side hustle:
- Business Summary
- Problem & Solution
- Target Market
- Products & Services
- Business Model (how you’ll make money)
- Marketing Plan
- Startup Costs & Financials
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| A simple structure keeps your business plan easy to follow. |
1. Business Summary
This is a short description of your business, 3 to 5 lines that explain what you do and who you serve.
Template:
“[Business name] is a [type of business] that provides [product/service] to [target customers] in [location]. We focus on [main advantage].”
2. Problem & Solution
Define the problem your customers face and show how your business solves it.
Example:
Problem: Busy professionals need healthy meals but have little time to prepare them.
Solution: Ready-to-eat meal boxes delivered within 30 minutes using fresh local ingredients.
3. Target Market
Be specific. Describe who will buy from you by age, location, preferences, and pain points.
Example: Adults aged 20–40 working in urban offices who value convenience and healthy food but have limited time.
4. Products & Services
List what you will sell and briefly describe each item or service. Keep it simple and practical.
- Product/service name — short description
- Product/service name — short description
5. Business Model (How You’ll Make Money)
Explain how you will generate revenue. Common models for small businesses include:
- Product sales — sell goods with a markup
- Service fees — charge per job or hourly
- Subscriptions — weekly or monthly recurring payments
- Digital products — e-books, templates, courses
6. Marketing Plan
Show how you’ll find and convert customers. Use low-cost, high-impact tactics for beginners:
- WhatsApp status and broadcast lists
- Instagram Reels and TikTok short videos
- Local Facebook groups and marketplace
- Google Business Profile for local discovery
- Referral discounts and partnerships with local shops
7. Startup Costs & Financials
List one-time startup costs and monthly estimated expenses. Keep the math simple and realistic.
| Item | Estimated Cost (₦) |
|---|---|
| Tools & equipment | 40,000 |
| Initial stock / supplies | 60,000 |
| Branding & marketing | 15,000 |
| Transport & misc | 10,000 |
| Total | 125,000 |
Also include a simple monthly projection: expected revenue, expected expenses and a rough profit estimate. This helps you know how many sales you need to break even.
Full Simple Business Plan Example (Copy & Edit)
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| Real-life examples make your planning process clearer. |
Business Name: FastFix Mobile Services
1. Business Summary
FastFix Mobile Services is a small phone repair and accessories business offering same-day repairs and affordable accessories to customers in Lagos Mainland. We focus on fast service, trustworthy repairs and convenient pickup/delivery.
2. Problem & Solution
Problem: Many smartphone users wait days for repairs and pay high prices.
Solution: FastFix provides same-day repairs, quality parts and optional home pickup to save customers time and stress.
3. Target Market
Primary customers are students (16–28) and working professionals (25–45) who depend on their phones and need quick, affordable repairs.
4. Products & Services
- Screen replacement
- Battery replacement
- Charging port repair
- Phone setup and troubleshooting
- Accessories sales (cases, chargers, screen protectors)
5. Business Model
Revenue from repair fees, accessory sales and pickup/delivery charges. Later income streams may include small maintenance subscriptions and in-store add-ons.
6. Marketing Plan
Promote via Instagram Reels demonstrating repairs, WhatsApp status updates, Google Business Profile for local search, and flyers at community hubs. Offer referral discounts and student deals to build early traction.
7. Startup Costs & Financials
Startup Budget (Example):
- Tools & equipment — ₦40,000
- Initial accessories stock — ₦60,000
- Branding & flyers — ₦15,000
- Transport & misc — ₦10,000
Total: ₦125,000
Monthly Revenue Estimate: Repairs ₦80,000 + Accessories ₦50,000 + Delivery ₦15,000 = ₦145,000
Expected Profit: ~₦80,000 after expenses (example only).
Tips for a Better Business Plan
- Keep it short — 1 to 3 pages is fine for a small venture.
- Use clear, simple language anyone can read.
- Be realistic with financials — underpromise and overdeliver.
- Test your idea quickly with a small pilot before major spending.
- Update the plan every 3–6 months as you learn.
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| A solid business plan helps any small business grow with direction. |
Final Thoughts
A simple business plan gives you clarity and confidence. Use the 7-part format above, adapt the sample to your context, and focus on action: test your idea, get your first customers, then improve. The best plan is the one you can actually use.