How to Use an AI Business Plan Generator

• Title Page
  • Business name
  • Owner’s name
  • Date
• Executive Summary (1–2 paragraph overview of the business)
• Business Overview (1 page)
  • Concept
  • Location
  • Legal structure (e.g., “sole proprietorship”)
  • Mission statement

• Market Analysis (2+ pages)
  • Target market
  • Competition
  • Company advantages
  • Regulations

• Product/Service Line (1–2 pages)
  • Products/services/amenities
  • Pricing structure
  • Product lifecycle (when the products/services will be ready for customers)
  • Intellectual property rights (e.g., trademark)
  • Research and development

• Operations Plan (1–2 pages)
  • Staffing
  • Suppliers
  • Hours of operation

• Marketing and Sales (1 page)
  • Branding
  • Marketing channels
  • Promotions
  • Partnerships
  • Growth strategy

• Financial Plan (1–2 pages)
  • Startup costs
  • Revenue streams
  • Projected financials

• Sustainability and Community Impact (1 page)
• Conclusion 

How to create a business plan

To create a business plan that follows the business plan template above (or to use an AI business plan template generator), gather these details first.

1. Market and competitors

First, conduct market research to understand your industry, customer needs, and competitors. Identify trends, pricing strategies, and gaps in the market. This information will help you explain how your business addresses an unfilled niche and how you’ll market your business to new customers.

Let’s say a new entrepreneur wants to open a farm-to-table hotel and restaurant in Hopland, CA. Before writing the business plan, they would research:

• Prices of nearby hotels and restaurants
• The dining and lodging preferences of Hopland’s tourists
• Products or services that nearby hotels/restaurants are lacking
• Up-and-coming trends in farm-to-table dining and boutique lodging

2. Strategy and operations

Next, make some decisions about how you’ll run your business and reach your goals.

• What products or services are you going to offer?
• What are your prices going to be?
• Which marketing techniques will you use (e.g., advertising on TikTok, Instagram, or other social media; publishing blog articles or a vlog on your company website)?
• What are your staffing needs?
• What technologies and tools will your business rely on?

3. Financial projections

Finally, gather some details about the financial aspects of your business, which include:

• Startup costs for equipment, inventory, licenses, legal fees, etc.
• Operating expenses, such as rent, salaries, utilities, insurance, marketing, and supplies
• Projected revenue based on your pricing model
• Cash flow projections about when money will come in and go out of your business
• Funding strategy for launching and operating the business before you turn a profit

Using an AI Business Plan Generator

After you gather the necessary details, the quickest way to draft your business plan is by using an AI business plan generator. QuillBot’s AI business plan generator is completely free to use! Here are some tips to help you get the best output:

• Include details about your business type, products or services, and location in your prompt so that everything QuillBot generates is relevant to your industry.
• Tell the AI business plan generator to ask you questions
• If you’re following a specific business plan template, paste it into your prompt.

AI business plan generator example

When you follow these steps, the business plan maker will generate a customized business plan, like the excerpt below.

Business plan example 

Frequently asked questions about how to create a business plan

How do I use AI to create a business plan template?

You can use AI to create a business plan template by writing a prompt that includes these details:

• The type of business you’re opening
• The products and services you’re offering
• The purpose of your business plan (e.g., to secure a loan from a bank or attract new investors)

Here’s an example of an AI prompt for a business plan template:

• Create a business plan template for a brick-and-mortar retail store for renting high-end, designer fashion to adolescents for special occasions. My main goal is to secure a small business loan.

Also make sure that you choose a reliable tool. QuillBot’s free AI business plan generator will create a template that’s tailored to your business needs.

How do you create a business plan for a restaurant?

Create a business plan for a restaurant by including these sections:

• Executive summary (aka a concise overview of your restaurant concept)
• Business description of your restaurant type and ownership structure (e.g., sole proprietorship, partnership, or LLC)
• Market analysis of your competition and target audience
• Menu and pricing description
• Marketing and sales strategy
• Operations plan for supplies, workflows, technologies, staffing schedules, and customer service policies
• Management and team structure
• Financial plan (e.g., startup costs)

The QuillBot AI business plan generator will create a template that’s tailored to your specific restaurant and target audience, and it’s completely free to use.