Launch League

Free template · Ontario and Canada

Business plan template: the nine sections and what goes in each one

A blank template is a list of headings. This one tells you what a Canadian lender, a grant panel or a competition judge is checking under each heading, how long it should be, a fill-in prompt to draft it, and the mistake that gets plans rejected. Copy the outline and start writing.

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The outline

Nine sections plus an appendix, roughly 8 to 13 pages in total. Each section below explains what goes under the heading.

Need the short version for a pitch or a grant panel? Our free one-page plan builder asks the executive-summary questions and produces a page you can print.

The outline as plain text. Paste it into any document.

Know your reader

Who will read it, and what they weigh

Write the plan for the reader you actually have. The sections are the same; the emphasis is not.

Business plan readers in Canada and what they look for
ReaderWhat they look forLength
Bank or credit union (including CSBFP-backed loans)Monthly cash flow that covers repayment with room to spare, your own contribution, credit history, and quotes for anything the loan buys.Full plan, 10–15 pages, spreadsheets attached
Futurpreneur Canada (ages 18–39)Their own plan template and cash-flow workbook completed, evidence you have talked to customers, and a founder story that supports two years of mentorship.Their template
Starter Company Plus panel (via Small Business Enterprise Centres)Proof of your 25% cash or in-kind contribution to the grant amount; plan and pitch expectations vary by centre, so confirm with your Small Business Enterprise Centre.Varies by centre
Launch League judgesProblem and opportunity (20 pts), solution (20), customer and market understanding (15), feasibility (15), business or sustainability model (15), impact (10), communication (5).Written pitch plus three short videos; a one-page plan is enough
A landlord, supplier or partnerThat you exist, are registered and insured, and can pay. The company description, operations and cash flow sections do the work.Executive summary plus the relevant sections

Section 1 · 1 page

Executive summary

The reader is asking: Do I understand this business in sixty seconds, and is there a clear ask?

The whole plan in one page: what you sell, to whom, why now, what you are asking for, and why you are the person to do it. Written last, read first, and often the page that decides whether a reader continues.

What it contains

  • One sentence on what the business does and for whom
  • The problem or gap, in the customer's terms
  • Your solution and what makes it different
  • Where you are today: idea, registered, first customers, revenue
  • Key numbers: startup cost, year-one revenue target, break-even month
  • The ask: how much, for what, and what the reader gets back

Fill this in

[Business name] is a [structure] in [municipality], Ontario that [what you do] for [specific customer]. Customers currently [what they do instead] and it costs them [time or money]. We [solution] at [price], which [key difference]. We have [proof so far]. We need [$ amount] to [use], and expect to break even in month [n].

The usual mistake: Writing it first and never revising it, so it describes a plan the rest of the document no longer matches.

Section 2 · ½ to 1 page

Company description

The reader is asking: Is this a real, properly set-up business, and who owns it?

The facts a reader needs to place you: legal structure, registration status, location, ownership, stage, and the mission in one plain sentence. In Ontario this is where you state whether you are a sole proprietorship, partnership or corporation, and whether the registration is done or planned.

What it contains

  • Legal name, business name, and structure (sole proprietorship, partnership, corporation)
  • Registration status: Ontario Business Registry, CRA Business Number, HST if registered
  • Location and whether you operate from home, a leased space, online or on-site
  • Owners and ownership percentages
  • Stage: pre-launch, launched, trading for n months
  • Mission in one sentence, without adjectives

Fill this in

[Legal name], operating as [business name], is a [structure] registered [date or planned date] in [municipality]. It is owned [percentages] by [owners]. The business [is pre-launch / has traded since]. Its purpose is to [mission].

The usual mistake: A page of vision statements and no mention of structure, registration or who owns what.

Section 3 · 1 to 2 pages

Market analysis

The reader is asking: Who exactly is the customer, how many are there, and why would they choose this?

Proof that specific people want this and that you know who they are. It covers the target customer, how many of them are within reach, what they spend now, who else serves them, and why some of them will switch to you.

What it contains

  • Target customer described specifically: who, where, situation, budget
  • Evidence of demand: interviews, pre-orders, a waitlist, current sales, comparable businesses
  • Market size within reach, with the source named (Statistics Canada, municipal economic development data, industry associations)
  • Competitors by name, including the option of doing nothing
  • Your position: the one difference a customer would repeat to a friend
  • Trends or changes that make now the right time

Fill this in

Our customer is [who], in [where], who [situation]. There are roughly [n] of them within [radius or channel] (source: [name]). Today they [current option] at [cost]. The main alternatives are [competitors]. They will choose us because [difference], which we know because [evidence: n interviews, n pre-orders, n current customers].

The usual mistake: "Our market is everyone in Ontario" and a national industry revenue figure copied from a report.

Section 4 · 1 page

Products and services

The reader is asking: What does one unit sell for, what does it cost to deliver, and is the gap big enough?

What you sell, how it is priced, what it costs you to deliver, and what the margin is. This is the section where a reader checks whether the business can make money on each sale before they look at the projections.

What it contains

  • Each product or service in a line, with price
  • Cost to deliver one unit or one hour, including your own time
  • Gross margin per unit and how it compares to the industry norm
  • How you set the price: cost-plus, competitor-based, value-based
  • Suppliers or inputs and any dependency on a single one
  • What is next: the one or two offers you will add once the first is working

Fill this in

We sell [offer] at [$ price]. It costs [$ cost] to deliver, leaving [$ margin, %]. Comparable businesses charge [range]. We priced it [method] because [reason]. Our key inputs come from [suppliers]. Once [milestone], we will add [next offer].

The usual mistake: A menu of everything you might ever sell, with no unit cost anywhere.

Section 5 · 1 to 2 pages

Marketing and sales strategy

The reader is asking: Where does the first customer come from, and the hundredth?

How customers find out you exist and what happens between hearing about you and paying you. Lenders and judges read this to see whether the revenue in the projections has a believable source.

What it contains

  • The two or three channels you will actually use, and why those
  • What each channel costs and roughly what one new customer costs to acquire
  • The sales process step by step, from first contact to payment
  • Your plan for the first ten customers, by name or category
  • How you keep customers: repeat purchase, referrals, contracts
  • Monthly marketing budget, matching the line in the cash flow

Fill this in

Customers will find us through [channels]. [Channel 1] costs [$/month] and we expect [n] enquiries a month from it. The sales process is [steps]. Our first ten customers will be [who]. Customers come back because [reason]. We will spend [$] a month on marketing.

The usual mistake: "Social media and word of mouth" with no cost, no volume and no sales process.

Section 6 · 1 page

Operations plan

The reader is asking: Can this person actually deliver what they are selling, week after week?

What running the business looks like on a Tuesday. Location, hours, equipment, suppliers, staff, the licences and insurance the business needs in Ontario, and the two or three things most likely to go wrong operationally.

What it contains

  • Where and when you operate
  • Equipment and space needed, owned or to be bought (matching the startup cost table)
  • Suppliers and lead times
  • Staff or contractors, and when you will hire
  • Licences, permits, insurance and WSIB status
  • Key operational risks and what you will do about each

Fill this in

We operate from [location] [hours]. We need [equipment], of which we own [list] and will buy [list] for [$]. Supplies come from [suppliers] with [lead time]. In year one [owner] does [roles]; we hire [role] when [trigger]. We hold [licences, insurance]. The main risks are [risks] and we will [mitigations].

The usual mistake: Skipping licences, insurance and WSIB entirely, which tells an Ontario reader you have not checked.

Section 7 · ½ to 1 page

Management and team

The reader is asking: Has this person done anything like this before, and do they know what they do not know?

Why you can do this. Relevant experience, not a résumé; the gaps you know you have; and who fills them, whether an advisor, an accountant, a mentor or a first hire.

What it contains

  • Each owner: relevant experience in two or three lines
  • The skills the business needs that nobody on the team has yet
  • Who fills each gap: advisor, mentor, bookkeeper, contractor, hire
  • Advisors or mentors by name, with permission
  • Time commitment: full-time, evenings, from a date

Fill this in

[Owner] has [experience relevant to the business]. The business also needs [skills], which will be covered by [advisor / hire / service]. [Name], [role], has agreed to advise on [topic]. [Owner] will work on the business [commitment] from [date].

The usual mistake: Listing every job you have had and pretending there are no gaps.

Section 8 · 2 to 3 pages plus a spreadsheet

Financial projections

The reader is asking: Does the cash run out before the business works, and are these numbers honest?

The numbers that make the rest of the plan checkable: what it costs to open, what comes in and goes out each month for the first year, three years of profit and loss, when you break even, and the assumptions behind every figure. Many reviewers turn to this section early and weigh it heavily.

What it contains

  • Startup cost table, item by item, with quotes attached for anything over a few hundred dollars
  • 12-month cash-flow forecast, month by month, showing the lowest cash point
  • Three-year profit and loss summary
  • Break-even: how many sales a month, and which month you get there
  • Assumptions page: every rate, price and volume used, with its source
  • Your own contribution in cash or equipment

Fill this in

Opening the business costs [$ total] (table attached). Month-one revenue is [$], growing to [$] by month twelve because [driver]. Fixed costs are [$]/month. The lowest cash point is [$] in month [n], which is why we are asking for [$]. Break-even is [n] sales a month, reached in month [n]. All assumptions are listed on page [n].

The usual mistake: Revenue that grows in a straight line, no monthly cash flow, and no page explaining where any number came from.

Section 9 · ½ to 1 page

Funding request

The reader is asking: Is the amount right, is it going to the right things, and how do I get it back?

Exactly how much you need, what each dollar buys, what you are contributing yourself, and how the money comes back. Written for the specific reader: a bank wants repayment from cash flow; a grant panel wants the use of funds to match program rules; a judge wants to see the plan is fundable at all.

What it contains

  • The amount, to the dollar
  • Use of funds table, matching the startup cost table and the cash flow
  • Your contribution (many lenders expect one; Starter Company Plus requires 25% of the grant)
  • Repayment schedule from projected cash flow, or the return an investor would see
  • What happens with less money, and what you would do with more

Fill this in

We are requesting [$ amount] as [loan / grant / investment]. It will fund [items and amounts]. We are contributing [$ or equipment] ourselves. Repayment of [$]/month begins in month [n], covered by projected cash flow of [$]/month at that point. If we receive less, we will [adjustment].

The usual mistake: A round number that appears nowhere else in the plan.

After section 9

Appendix

Everything a reader might want to verify, kept out of the way of the argument. If the plan says a quote exists, the quote is here.

  • Owner résumés, one page each
  • Business name registration or articles of incorporation
  • Supplier and equipment quotes
  • Lease or letter of intent for premises
  • Licences, permits, insurance certificates
  • Letters of intent or emails from prospective customers
  • Photos of product, premises or prototypes
  • Customer interview notes or survey summary
  • Full spreadsheets: cash flow, P&L, assumptions

Page budget

How long each section should be

Finished a draft? Run it against our 25-point business plan checklist before anyone else reads it.

Executive summary
1 page
Company description
½ to 1 page
Market analysis
1 to 2 pages
Products and services
1 page
Marketing and sales strategy
1 to 2 pages
Operations plan
1 page
Management and team
½ to 1 page
Financial projections
2 to 3 pages plus a spreadsheet
Funding request
½ to 1 page
Total, excluding appendix
About 8 to 13 pages

Questions

Frequently asked questions

Is there a free business plan template for Ontario or Canada?
Yes, several, and this page's outline is one of them: copy it into any document and fill in the prompts. The Business Development Bank of Canada publishes a free downloadable template, Futurpreneur offers free planning resources and templates, and Launch League's free one-page plan builder produces the short version competitions and grant panels ask for. None of them require payment; be wary of sites charging for a "Canadian business plan template".
How long should a business plan be?
Roughly 8 to 13 pages for most small businesses, plus spreadsheets in an appendix; that is what the section-by-section lengths above add up to. A bank will read fifteen pages; a competition judge or a grant panel wants the one- to three-page version. Length is never the problem. A plan fails on a missing cash flow or a made-up market size, not on page count.
What is the difference between a one-page plan and a full business plan?
A one-page plan answers the executive summary questions only: customer, problem, solution, price, first customers, key numbers and the ask. It is what pitch competitions, including Launch League, and early conversations need. A full plan adds the evidence behind each answer, especially the monthly cash flow and the assumptions, and is what lenders and most grant programs require. Write the one-page version first; it tells you what you do not know yet.
Do I need financial projections if I have no revenue yet?
Yes, and every reader knows they are estimates. What they are checking is whether the estimates are built honestly: a startup cost table with real quotes, a monthly cash flow that shows when money is tightest, and an assumptions page that names where each price and volume came from. A plan that says "we expect 20 customers a month because 14 of the 30 people we interviewed said they would buy" is stronger than one with a bigger number and no source.
What do Canadian lenders actually look for in a business plan?
Typically four things: monthly cash flow that covers the loan payment with margin, your own money or equipment in the business, evidence that customers exist, and a reason to believe you specifically can run it. Under the Canada Small Business Financing Program the bank still makes the credit decision, so the plan is written for the bank, not the government. Quotes for anything the loan buys are expected, not optional.
Which sections matter most for a pitch competition?
Launch League publishes its 100-point rubric, and the weights answer the question: problem and opportunity 20, solution 20, customer and market understanding 15, feasibility 15, business model 15, impact 10, communication 5. That maps to the executive summary, market analysis, products and services, operations and financial sections above, compressed into a written pitch and three short videos. Every entrant receives written feedback against each criterion.
Should I use a template or an AI plan generator?
Use the template to do the thinking; the prompts on this page exist so you cannot skip a question. Tools can then help with the writing. Launch League's Elite Business Plan Maker takes your own answers and drafts all nine sections with industry-specific prompts and assumptions for you to check, for a one-time fee, and the free Business 101 course teaches the reasoning behind each section. What no tool can supply is the evidence: the interviews, the quotes and the pre-orders are yours to collect.
How often should I update the plan?
Whenever a number changes enough to matter, and at minimum before every application and once a year. The cash-flow forecast should be compared with actual results monthly in the first year; the gap between the two is the most useful management information a new business has.

Checked against the source

Sources and free templates

Checked 5 September 2026. How we research and correct guides is described in our editorial standards.

Your next step

A template gets you started. Feedback gets you finished.

Fill in the template, then put it in front of people who read business plans for a living. Launch League's competition is free to enter, scored on a published rubric, and every entrant receives their judges' written notes.

Start Business 101 — freeEnter the competition

Want the full plan written for you? The Elite Business Plan Maker drafts all nine sections for your industry, $79 + HST, once.

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