video business plan cost

We earn commissions if you shop through the links below. Read more

Video Production Company

Back to All Business Ideas

A Guide to Starting a Video Production Company

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on April 27, 2022 Updated on July 31, 2024

A Guide to Starting a Video Production Company

Investment range

$4,550 - $10,100

Revenue potential

$52,000 - $312,000 p.a.

Time to build

1 – 3 months

Profit potential

$47,000 - $94,000 p.a.

Industry trend

Vital aspects to consider when kicking off your video production company:

Define your services — Decide on the types of video production services you will offer, such as corporate videos, commercials, event coverage, social media content, music videos, and documentaries. Consider whether you will also offer related services like video editing, scriptwriting, and animation.
Choose a location — Select a location with adequate space for filming, editing, and storing equipment. Consider proximity to high-traffic areas and potential clients, such as businesses and event venues.
Video production equipment — Invest in high-quality equipment such as cameras, lenses, lighting, microphones, and other necessary equipment. Consider renting equipment initially to manage costs.
Editing software — Use professional video editing software such as Adobe Premiere Pro , Final Cut Pro , or DaVinci Resolve to produce high-quality videos.
Register your business — A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple. Form your business immediately using ZenBusiness LLC formation service or hire one of the best LLC services on the market.
Legal business aspects — Register for taxes, open a business bank account, and get an EIN .
Hire staff — Hire skilled and experienced staff for various roles, including videographers, editors, scriptwriters, and administrative support.
Partnerships — Build relationships with local businesses, event planners, marketing agencies, and advertising firms to generate referrals and collaborate on promotional activities.

You May Also Wonder:

Can a video production business be profitable?

Yes, a video production business can be very profitable. You just need to have excellent video production skills and a good marketing plan to reach potential customers.

How can I learn video production?

You could get a degree in video production online from places like the New York Film Academy . Alternatively, you could take inexpensive online courses through Udemy .

How do I get video clients?

Getting video production clients requires a combination of networking, building a strong portfolio, and effective marketing. Attend industry events, reach out to potential clients through social media and email, and build relationships with other professionals in the field.

How do I market myself as a video producer?

Marketing yourself as a video producer involves developing a strong brand identity, creating a professional website, and leveraging social media and other marketing channels to promote your services. Focus on showcasing your unique strengths and expertise, such as specialized niches, styles, or techniques.

What kind of additional services can my video production company offer?

These services can include pre-production services such as scriptwriting, storyboarding, and location scouting, post-production services such as editing, color correction, and sound design, and distribution services such as video optimization and SEO. Other additional services can include live streaming, virtual reality production, and drone videography.

How can I find and hire skilled videographers, editors, and other production staff?

To find and hire skilled videographers, editors, and other production staff, consider networking with industry professionals, posting job listings on relevant job boards, and attending job fairs or trade shows. Look for candidates with relevant experience and a strong portfolio, and conduct thorough interviews and assessments to ensure they have the necessary skills and fit with your company culture.

Step 1: Decide if the Business Is Right for You

Pros and cons.

Starting a video production company has pros and cons to consider before deciding if it’s right for you.

Flexibility – Run your business from home, set your own hours
Creative Outlet – Let your creativity shine
Good Money – Make $1,000 or more per project
Crowded Market – Compete with established video production companies
Training Needed – Skills are necessary to produce videos

Video production industry trends

Industry size and growth.

Industry size and past growth – The global film and video production services market was worth $234.9 billion in 2020 after expanding 2.5% annually during the previous five years.(( https://www.researchandmarkets.com/reports/5238077/film-and-video-global-market-report-2021-covid ))
Growth forecast – The global film and video production industry is projected to grow 35% by 2025 and 75% by 2030.(( https://www.ibisworld.com/industry-statistics/number-of-businesses/movie-video-production-united-states/ ))
Number of businesses – In 2022, 4,912 movie and video production companies are operating in the US.
Number of people employed – In 2022, the US movie and video production industry employs 34,633 people.(( https://www.ibisworld.com/industry-statistics/employment/movie-video-production-united-states/ ))

Trends and challenges

Trends in the video production industry include:

Companies like Blu Blu Studios are leading the way in the animated video marketing and video storytelling segments, which are increasing in popularity.
Shoppable videos, meaning videos that contain button prompts to buy products, are increasingly present on social media.
Corporate videos, such as case study videos and explainer videos, are becoming a larger segment of the video production market.

Challenges in the video production industry include:

The evolution of video technology makes it necessary for video production companies to periodically upgrade equipment.
Customers are seeking quick turnaround times for video production, putting added pressure on video production companies.

Demand hotspots

Most popular states – The most popular states for video production directors are New York, Minnesota, and California.(( https://www.zippia.com/director-video-production-jobs/best-states/ ))
Least popular states – The least popular states for video production directors are Hawaii, Rhode Island, and South Carolina.

What kind of people work in video production?

Gender – 18.6% of video production directors are female, while 81.4% are male.(( https://www.zippia.com/director-video-production-jobs/demographics/ ))
Average level of education – The average video production director has a bachelor’s degree.
Average age – The average video production director in the US is 40.1 years old.

How much does it cost to start a video production business?

Startup costs for a video production company range from $4,500 to $10,000. The largest expense is the necessary equipment.

You’ll need a handful of items to successfully launch your video production business, including:

Highly portable camera
External microphone
Editing/production software
Video editing hardware
Transcription service
High-Quality Memory Cards
Capture Cards
Dummy Battery

Start-up Costs	Ballpark Range	Average
Setting up a business name and corporation	$150 - $200	$175
Business licenses and permits	$100 - $300	$200
Insurance	$100-$300	$200
Business cards and brochures	$200 - $300	$250
Website setup	$1,000 - $3,000	$2,000
Equipment	$2,500 - $5,000	$3,750
Marketing budget	$500 - $1,000	$750
Total	$4,550 - $10,100	$7,325

How much can you earn from a video production business?

video production company earnings forecast

Prices for video production vary based on the time and the extent of the editing of the video. The average price for a short video is about $1,000. Your profit margin when you’re working by yourself should be about 90%.

In your first year or two, you could work from home and produce one video per week, bringing in $52,000 in annual revenue. This would mean $47,000 in profit, assuming that 90% margin. As your business gains traction, you could start doing longer videos at a price of $2,000 each, and you could produce three videos per week. At this stage, you’d rent a commercial space and hire staff, reducing your profit margin to around 30%. With annual revenue of $312,000, you’d make a handsome profit of $94,000.

What barriers to entry are there?

There are a few barriers to entry for a video production company. Your biggest challenges will be:

The skills needed to provide quality video production
Building a portfolio of work to use for marketing

Related Business Ideas

A Step-By-Step Guide to Setting up a Film Production Company

Lights, Camera, Action: How to Open a Movie Theater

Movies Under the Stars: Starting a Drive-In Theater

At Step by Step Business, we prioritize genuine experiences. In our Entrepreneur Spotlight Series , we converse with industry pioneers, offering readers a unique perspective.

We’ve sat down with the creative minds behind Fred & Eric Animation Studio to delve into their journey and evolution in the animation world. Dive into our interview for invaluable insights and lessons from the animation industry.

Step 2: Hone Your Idea

Now that you know what’s involved in starting a video production company, it’s a good idea to hone your concept in preparation to enter a competitive market.

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

Research video production companies in your area to examine their services, price points, and customer reviews. You’re looking for a market gap to fill. For instance, maybe the local market is missing a film production company or a digital marketing video production company.

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as corporate video production or explainer video production.

This could jumpstart your word-of-mouth marketing and attract clients right away.

What? Decide your video production niche and services

Your services will depend on the niche you decide to specialize in. You can offer video editing or the addition of motion graphics as well as video shooting.

How much should you charge for video production?

Prices for video production vary greatly. The average short video costs about $1,000. Higher-end video production companies charge more, from $1,000 to $5,000 per minute. You should aim for a profit margin of about 90% when you’re working by yourself.

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Your target market is likely to be business owners. You can connect with them on LinkedIn or find them on Google or Yelp and call them directly. You might also try to partner with digital marketing agencies to handle their video marketing production.

Where? Choose your business premises

In the early stages, you may want to run your business from home to keep costs low. But as your business grows, you’ll likely need to hire workers for various roles and may need to rent out a commercial space for a studio. You can find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .

When choosing a commercial space, you may want to follow these rules of thumb:

Central location accessible via public transport
Ventilated and spacious, with good natural light
Flexible lease that can be extended as your business grows
Ready-to-use space with no major renovations or repairs needed

Step 3: Brainstorm a Video Production Company Name

Here are some ideas for brainstorming your business name:

Short, unique, and catchy names tend to stand out
Names that are easy to say and spell tend to do better
Name should be relevant to your product or service offerings
Ask around — family, friends, colleagues, social media — for suggestions
Including keywords, such as “video producing” or “video production”, boosts SEO
Name should allow for expansion, for ex: “Visionary Productions” over “Wedding Reels Videography”
A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these.

Find a Domain

Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Video Production Business Plan

Here are the key components of a business plan:

Executive Summary: Summarize your video production company’s mission to create high-quality, engaging video content for clients ranging from businesses to independent artists.
Business Overview: Describe your company’s focus on providing video production services, including corporate videos, commercials, music videos, and event coverage.
Product and Services: Detail the range of video production services, such as concept development, filming, editing, and post-production.
Market Analysis: Evaluate the demand for video content, identifying target clients like marketing agencies, corporations, or entertainment entities.
Competitive Analysis: Compare your services with other video production companies, focusing on your unique strengths like advanced technology, creative expertise, or niche market focus.
Sales and Marketing: Outline your strategy for attracting clients, using tactics like showcasing a portfolio, digital marketing, or networking within industry circles.
Management Team: Highlight the qualifications and experience of your team, particularly in videography, film editing, and business management.
Operations Plan: Describe the process of video production, from client consultation and storyboard creation to shooting and final delivery.
Financial Plan: Provide an overview of financial aspects, including startup costs, pricing strategy, and projected revenue.
Appendix: Include supplementary documents such as equipment lists, previous project examples, or detailed market research to support your business plan.

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business!

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you’re planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to video production companies.

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state.

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your video production company will shape your taxes, personal liability, and business registration requirements, so choose wisely.

Here are the main options:

Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

Form Your LLC

Choose Your State

We recommend ZenBusiness as the Best LLC Service for 2024

Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you’re completing them correctly.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital:

Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
Personal: Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best option, other than friends and family, for funding a video production business. You might also try crowdfunding if you have an innovative concept.

Step 8: Apply for Business Licenses/Permits

Starting a video production business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits.

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more.

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your video production business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
Business Property: Provides coverage for your equipment and supplies.
Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
Worker’s compensation: Provides compensation to employees injured on the job.
Property: Covers your physical space, whether it is a cart, storefront, or office.
Commercial auto: Protection for your company-owned vehicle.
Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business.

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.

You may want to use industry-specific software, such as Monday , Yamdu , and Pipeline , to manage your projects, budgeting, scheduling, and contracts.

Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero .
If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using services like WordPress, Wix, or Squarespace . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google.

Here are some powerful marketing strategies for your future business:

Showcase a Compelling Demo Reel: Craft a standout demo reel that highlights the best of your work, emphasizing diverse styles and capabilities, to leave a lasting impression on potential clients.
Utilize Social Media Creatively: Leverage platforms like Instagram, TikTok, and LinkedIn to share behind-the-scenes content, client testimonials, and short clips, engaging your audience and creating buzz around your brand.
Strategic Partnerships with Agencies: Collaborate with advertising agencies, event planners, and PR firms to become their go-to video production partner, expanding your reach and clientele through mutually beneficial relationships.
Offer Educational Content: Develop informative content through blog posts, webinars, or YouTube tutorials that showcase your expertise, positioning your company as an authority in the industry and attracting potential clients seeking guidance.
Run Targeted Social Media Ads: Invest in targeted advertising on platforms like Facebook and Instagram, focusing on specific demographics, interests, and locations to reach potential clients who are more likely to be interested in your services.
Attend Niche Events and Trade Shows: Participate in industry-specific events, trade shows, and conferences to connect directly with potential clients and establish a strong presence in your target market.
Create Limited-Time Promotions: Generate excitement and urgency by offering limited-time promotions or discounts for your services, encouraging potential clients to take action and try out your video production expertise.
Implement Client Referral Programs: Encourage satisfied clients to refer your services by implementing a referral program, offering incentives such as discounts or additional services for successful referrals.
Optimize for Search Engines: Ensure your online presence is optimized for search engines by using relevant keywords, creating high-quality content, and obtaining backlinks to increase your visibility in search results.
Invest in Professional Networking Events: Attend industry-specific networking events, film festivals, or local business gatherings to establish personal connections with potential clients and industry professionals, fostering trust and credibility for your company.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that set it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your video production company meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire.

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your video production business could be:

High-quality video production to meet your digital marketing needs
Corporate video production to help you grow your business
Professionally produced explainer videos to elevate your website

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a video production business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in video production for years and can offer invaluable insight and industry connections.

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in video production. You’ll probably generate new customers or find companies with which you could establish a partnership.

Step 12: Build Your Team

If you’re starting out small from a home office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for a video production business include:

Video Directors – provide direction for videos
Video Producers – edit and produce videos
Camera People – film the videos
General Manager – scheduling, accounting
Marketing Lead – SEO strategies, social media

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need.

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent.

Step 13: Run a Video Production Company – Start Making Money!

More and more companies are using video marketing techniques, which is why the video production services market is set to grow nearly 75% by 2030. You may need to learn some skills first, but once you do, you could start your own video production company and get a share of that growing market. You just need a passion for what you do, a willingness to work hard, and you can build your business into something great.

You’ve honed your business skills now, so it’s the perfect time to fire up the cameras and get your successful video production company off the ground!

Subscribe to Our Newsletter

Featured resources.

57 In-Demand Service Business Ideas You Can Launch Today

David Lepeska

Published on December 1, 2022

The services sector is undoubtedly the biggest economic sector in the US as it accounts for nearly 70% of the country’s gross domestic product. It ...

44 Exciting Entertainment Business Ideas to Start Today

Natalie Fell

Published on July 13, 2022

Let the good times roll! With entertainment outlets now open and people coming together for all kinds of celebrations, the entertainment industry is ...

15 Best Software Business Ideas for Startups & SMEs

Carolyn Young

Published on June 16, 2022

The global software industry is worth a massive $600 billion and projected to expand nearly a third by 2027. For software developers and engineers,t ...

No thanks, I don't want to stay up to date on industry trends and news.

Integrations
Sustainability & ESG
How to Videos
Developer Platform
Zoom Ventures
Zoom Merchandise Store
Zoom Rooms Client
Browser Extension
Outlook Plug-in
Lync Plug-in
Android App
Zoom Virtual Backgrounds
1.888.799.9666
Contact Sales
Plans & Pricing
Request a Demo
Webinars and Events
Support Center
Learning Center
Zoom Community
Accessibility
Developer support
Privacy, Security, Legal Policies, and Modern Slavery Act Transparency Statement
Bahasa Indonesia
US Dollars $

Upcoming Meetings

Development

How to Create a Production Company Business Plan [FREE Template]

H ighly successful video companies start with a strong production company business plan. Whether your company has been around for a while, or you’re a freelancer ready to take your services to the next level, this post will provide you with actionable strategies for success to compete more effectively right now.

It all beings with formulating the business plan that will get you where you want to go. If you don’t have a business plan, don’t worry. We provide a free business plan template below and will walk you through it.

Step by step.

Production Company Business Plan
The Executive Summary
Perform a Video Company Self Assessment
How to Get Started
Financing a Video Production Company
Marketing Plan
Day to Day Operations

Freebie: Business Plan Template for Video Production

Download your FREE printable business plan template for your video production. Just enter your email address and we'll instantly send it to you!

business plan template

1. what is a production company business plan.

Essentially it's a tool for raising funds, creating a roadmap, or altering course and plotting out the next steps.

One purpose of any business plan to so convey to investors, or a bank, why they should put money into this business.

Make Your Own Production Company Business Plan - Shark Tank

Think of creating a business plan you could bring to them

What does that mean?

It means you need this business plan for a production company to prove that you will make money. To prove it to you, but also to any investors.

After all, nobody invests to lose money. Or break even. So with that in mind, let's forge ahead into the actual writing of the business plan.

how to make a business plan

2. what is an executive summary.

Every business plan starts from the top down, with an executive summary.

What is that, exactly?

An executive summary is a short part of a larger proposal or report that summarizes the main points so the reader can become quickly educated on the whole document without having to read it all.

So it’s a detailed overview.

Of course, "executive summary" has a nice ring to it...

Your job here is to lay out the big picture of your plan. Some questions to ask yourself: Why do you want this business in the first place?

Similarly, what inspired you to start it? What's going to make it work?

Next, start to answer the questions your investors might have. Try getting into their head-space.

"Why would YOU invest in this business?"

You might want to write about the competition. The targeted demographic. Be specific here.

What need does your business fill? Which kinds of customers and clients are you targeting?

Think about your target market

Furthermore, what else sets you and your business apart?

Especially relevant is using concrete examples and not only ideas. Can you cite previous work you've done?

This brings us to...

Your production companies competition

What does the rest of the field looks like. Your investor will want to know if they don't already.

What sets this company and this production company business plan apart from others?

Knowing the entire field of competitors you have is a good idea, even if it's a very long list.

Your production company business plan must factor in what else is being offered. That way you can adjust, and target a more specific niche.

Or, you can figure out what you can do better.

For example: what can you identify in your competitor's list of services that you know you can nail?

This is what your video company plan needs to convey.

Finally, remember to think of it from the investor's standpoint. How is this an opportunity for them?

how to create a business plan

3. why a video company self-assessment.

This step is easy to do, but hard to do well.

Can you take a good long look at your video production studio? With the intent to circle problems? Areas that need improvement?

The second part of this step might be easier. Find the areas where your video production studio can really shine.

In contrast, you don't want to elaborate on weaknesses in your video production company business plan. Rather, you want to identify them so you can find ways to address them.

You need to have answers to the questions these flaws might bring to the mind of your investors.

Make Your Own Production Company Business Plan - Mirror

You are not required to sing “Man in the Mirror”

Then go beyond looking in the mirror.

Look back at the field before you.

This is a business plan for a production company. What opportunities exist for that?

Most of all, try and tailor this production house business plan to specific needs.

Here are a few methods of company self-analysis:

This is a way to identify changes in your industry, to target potential growth opportunities. The acronym stands for:

P olitical Factors

E conomic Factors

S ocial Factors

T echnological Factors

P roduction company business plan would include a PEST

We've mentioned elements of SWOT:

W eaknesses

O pportunities

The one to focus in on here is threats. Don't assume everything will work out for the plan just the why you'd like it to.

Because it won't. Investors will know that. You should not only know it, you should expect it.

Most important of all: prove that you're prepared for whatever may happen.

Here's a cool way to approach your SWOT analysis. Try applying your strengths to your opportunities and see what kind of leverage you can create.

Then theoretically expose your weaknesses to your threats. Are you in trouble? Do you need to address something to better protect your company?

Think of this as planning for a battle. Therefore, you don't want to ignore cracks in the wall if your enemy is bringing a battering ram.

Business plan can benefit from SWOT

Strategy, structure, systems, style, shared values, staff, and skills. The 7S model was developed by business consultants Robert H. Waterman Jr. and Tom Peters . It's also known as the McKinsey 7S framework.

The idea here is that your business needs these elements to be aligned and "mutually reinforcing". Let's go over each "S".

Strategy: How does this business plan to gain an advantage.

Structure: How do you divide the various operations of the company.

Systems: Procedure for measurement, reward and resource allocation.

Skills: the companies core and distinctive capabilities.

Staff: Human resources.

Style: Behavior patterns of the key groups like managers.

Shared values are in the middle of them all on the diagram. It's somewhat self-explanatory.

In theory, using these methods of self-analysis will help you a great deal. Due to them you'll know, and decide, all sorts of things about your production company.

The 7 S model of analysis

Start putting these ideas onto paper now! If you haven’t already…

Gentlemen, start your engines

4. how to get started.

A business plan for a production company must lay out how you will get started. This is also referred to as a "roll out plan".

How you engineer your beginning is critical to your cash flow. What do you need to get started?

And can you start at a sustainable level?

Will you open a physical office space right off the bat?

Overhead is a major cost. If this is more of a production house business plan then you’ll want to factor that in.

Do you have existing clients?

Equipment or gear already in place?

A video production business plan suggests that your focus will be on video production. Things like equipment will be critical.

In addition to considering this an entertainment production company business plan you may also want to focus on creative development.

How you want to focus effects how you want to phrase things. And it matters almost immediately.

START FEES YOU CAN AVOID

It's a good idea to propose that you start small.

There are two reasons for this.

The first is that you will scare away investors if you ask for too much up front, almost without fail they can tell if you are asking for more than it seems like you need.

It also throws into question how serious you are about sustaining success.

Which leads to the second reason.

It'll be much harder for you to sustain success if you ask for big upfront funding that you aren't sure you can earn back plus profit.

Let's say because you know of a few jobs you'll have early on, that you ask for less up front.

You'll be able to get rolling right away, earning back the initial investments and then some.

Above all you want to start off with easy wins.

Or as close to easy wins as you can get when launching or re-launching a video production business plan.

Seems like it would somewhat obvious not to ask for more than you can earn back...

Rather, it's a mistake people make all the time.

Speaking of which...

do have the capital?

5. financing a company.

Any business needs capital. As a result, you need a section where you lay out the cash flow for the production house business plan.

What kind of money do you expect to have coming in, and how much do you expect to be spending?

Make the budget, while also estimating how you'll be earning.

If you can't demonstrate this, then you need to go back to the drawing board.

Make Your Own Production Company Business Plan - Stacks on Stacks

Just pose like this and you’ll reassure any investor

You will want to get involved with an accountant at some point soon.

But remember, this is a business plan for a production company. So you may have a lot of costs coming at you early just to get started.

What is a marketing plan?

Your video production business plan is almost complete. Another section worth including would be one on marketing.

Here is a good additional resource on small business accounting .

You want to prove that business will be coming in, and not assume it will on faith alone.

Building a strong portfolio is a must. Consider again what niche you may be able to serve best. Find a solid "bread and butter" to start with.

Remember, good businesses expand when they need to. They don't bite off more than they can chew right out of the gate.

INVEST IN A GOOD WEBSITE

Do some research on how you’ll be building the best website for your product.

Get your production company a few social media accounts, and start trying to create a presence there. You'll need to find many ways to attract clients, and show your work.

Do some additional research on how to market a production company.

All this needs to find its way into the marketing section of your production company business plan.

what's your daily workflow?

7. day to day operations.

The day to day operations are a critical part of the plan. Have you visualized what the daily workflow will be?

Now is the time to do that. Who is going to be on your team, and how will it grow and change over time?

Determine what tasks will take priority each day, and how to best utilize your resources and finances.

This will be a key step in determining if your production company business plan is sustainable.

Ask yourself a few of the following questions:

How much time per day will you spend building your client base? What elements of each job will you tackle in-house? Which tasks might you outsource?

What equipment and gear do you own?

When will it need to be replaced and/or upgraded?

Are you going to hire anyone to start? Will they be full-time employees?

Will you hire independent contractors per project? How many, roughly?

As mentioned in the finance section, you need to know how you'll plan your reporting for taxes and your bookkeeping process.

These questions will help you start to determine what each "day at the office" will look like.

The clearer a picture you can paint here, the better.

Write a Business Plan

Get as specific as possible in each section of your entertainment company business plan. The more you know... right?

Now, let's get a little more advanced. In our next post we'll dive into writing a 4 part business plan.

Up Next: Write a 4-Part Business Plan →

Project management for video creatives. tasks, file sharing, calendars and more..

Manage video production timelines, tasks, storyboards, shot lists, breakdowns, call sheets. Made for video creatives, new media and film.

Learn More ➜

1.1 CHAPTER TITLE HERE...

Short, actionable h3 phrase....

Marshmallow pie sweet roll gummies candy icing. I love candy canes soufflé I love jelly beans biscuit. Marshmallow pie sweet roll gummies candy icing.

Pricing & Plans
Product Updates
Featured On
StudioBinder Partners
Ultimate Guide to Call Sheets
How to Break Down a Script (with FREE Script Breakdown Sheet)
The Only Shot List Template You Need — with Free Download
Managing Your Film Budget Cashflow & PO Log (Free Template)
A Better Film Crew List Template Booking Sheet
Best Storyboard Softwares (with free Storyboard Templates)
Movie Magic Scheduling
Gorilla Software
Storyboard That

A visual medium requires visual methods. Master the art of visual storytelling with our FREE video series on directing and filmmaking techniques.

We’re in a golden age of TV writing and development. More and more people are flocking to the small screen to find daily entertainment. So how can you break put from the pack and get your idea onto the small screen? We’re here to help.

Making It: From Pre-Production to Screen
What is Method Acting — 3 Different Types Explained
Ultimate Guide to Sound Recording: Audio Gear and Techniques
How to Make a Production Call Sheet From Start to Finish
What is Call Time in Production & Why It Matters
How to Make a Call Sheet in StudioBinder — Step by Step
1.2K Facebook
44 Pinterest
20 LinkedIn

Don't bother with copy and paste.

Get this complete sample business plan as a free text document.

Video Production Business Plan

Start your own video production business plan

Michael's Video Service

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Michael’s Video Service uses the latest technology to provide video production services. This means that the services provided achieve a level of quality previously reserved for only the most expensive video production companies.

Michael’s Video Service is a new company and as such, we will need to meet market acceptance. To that end, the company is working to determine trends in the industry, the needs of the customer, and how best to address the needs of the customer.

Our services are geared for several markets, including television stations, companies, high schools, and families. We will initially target high schools with whom we can establish strategic alliances that will enable us to establish long term relationships with them. In our first year of operation, we believe we can capture 15 to 25% of the market, which translates into $100,000 – $130,000 in sales.

We believe that we can earn $149,000 in our first year, rising to $175,000 and $191,000 in our second and third years, respectively. Our market strategy will be to advertise and capitalize on the services that our competitors do not offer.

There are several companies with whom we will be competing. We have a competitive advantage, however, because our equipment is more aligned with the video production industry trends requiring digital technology, as opposed to analog devices.

The company is seeking a loan in the amount of $300,000 which will be used to purchase the equipment and start-up expenses. The company’s revenue projections for the first three years are $149,000, $175,000, and $191,000, respectively. Michael’s Video Service expects to achieve profitability early on.

Video production business plan, executive summary chart image

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Legal Business Description

Michael’s Video Service was founded in May 1996 by Mr. Michael Morrison. Michael’s Video Service is a Limited Liability Company (LLC) with principal offices located in Denton, Ohio.

Start-up Funding

Start-up Expenses to Fund	$15,000
Start-up Assets to Fund	$302,000
Total Funding Required	$317,000

Assets
Non-cash Assets from Start-up	$242,000
Cash Requirements from Start-up	$60,000
Additional Cash Raised	$0
Cash Balance on Starting Date	$60,000
Total Assets	$302,000


Liabilities and Capital

Liabilities
Current Borrowing	$0
Long-term Liabilities	$300,000
Accounts Payable (Outstanding Bills)	$0
Other Current Liabilities (interest-free)	$0
Total Liabilities	$300,000

Capital

Planned Investment
Michael Morisson	$17,000
Other	$0
Additional Investment Requirement	$0
Total Planned Investment	$17,000

Loss at Start-up (Start-up Expenses)	($15,000)
Total Capital	$2,000


Total Capital and Liabilities	$302,000

Total Funding	$317,000

2.1 Mission

Our mission is to become the leading freelance and video production company in state, utilizing the latest technology to shift market share from competitors to Michael’s Video Service.

Video production business plan, company summary chart image

Start-up

Requirements

Start-up Expenses
Legal	$500
Stationery etc.	$200
Brochures	$300
Consultants	$1,000
Insurance	$1,200
Rent	$600
Expensed equipment	$10,000
Other	$1,200
Total Start-up Expenses	$15,000

Start-up Assets
Cash Required	$60,000
Start-up Inventory	$2,000
Other Current Assets	$0
Long-term Assets	$240,000
Total Assets	$302,000

Total Requirements	$317,000

Michael’s Video Service is in business to cover events and special occasions on a freelance basis. What we will be providing is an alternative solution for video companies or out of town television stations. Instead of them sending a crew or taking time out of their busy schedules, they can hire us to do the filming for them. This gives them the opportunity to focus on their core competencies.

We will attend any and every event that we will have to cover for our customer. Using our experience, we will find a strategic location from which we will film. Once the filming is complete, we will then deliver the tape to the customer.

Michael’s Video Service will contract video services to its target markets. Services are not only limited to the Denton, we are able to travel around the country. Our main goal is to contract our services to anyone who may need an event video taped.

3.1 Service Description

The operation begins with the customer contacting Michael’s Video Service with the intent of using our services. All the details of the event are gathered and all the relevant information pertaining the specific requirements, as well as the delivery of the tape. Thereafter, we attend the event and proceed to do the filming. Once the filming is completed, the next step is to deliver the tape to the customer.

3.2 Technology

Analog is the old technology and digital is the new. Analog communication systems involve the amplitude modulation of a radio signal. In other words, they transmit and receive information through a continuous flow of electromagnetic signals. An inherent weakness of the technology is that analog signals weaken over distances and require additional equipment to boost them as they travel.

Digital cameras are the future of television broadcasting as well as the future of consumer camcorders. The FCC has mandated that all television stations must transmit a digital signal to the homes of its viewers by 2002.

In keeping up with the trends in the industry, we plan to purchase the latest digital equipment on the market. We plan to use the following equipment:

DLC Qualcomm 500
Sanyo 2000 video equipment
Sanyo 2000 wireless equipment

Strategy and Implementation Summary

We plan to initially market our products and services as an alternative solution for television networks and video companies. These markets were selected because of their size, trends in technology, our experience with video production, our industry contacts, and an overall belief that they are most appropriate to initially target.

We aim to rapidly develop alliances with the major high schools to enable us to gain credibility as the best video production company. Our market strategy will be to advertise and capitalize on the products and services that our competitors do not have.

4.1 Market Analysis Summary

We expect to compete as a freelance video production company in the broadcasting industry. Companies in the industry are involved in the creation and delivery of various types of programming to consumers. Much of that programming is recorded on film, tape, or disk, so that it can be seen or heard repeatedly by both new audiences and those that are familiar with it. Many of the events that are broadcast live are likely to be recorded, with some or all of such events to be rebroadcast at future times.

Within this national market, Michael’s Video Service will initially focus on supplying its services to the high school market market. We intend to be the only freelance video company in the city and state to offer our services to companies of any size. Our goal is to be on the freelance list for all the major television networks for news and sports coverage in the southeast region of the United States.

4.1.1 Market Segmentation

Our customer is defined as any individual or organization that has need for one of the services we provide. Our target customers are as follows.

Market Analysis
		Year 1	Year 2	Year 3	Year 4	Year 5
Potential Customers	Growth						CAGR
TV stations	5%	600	630	662	695	730	5.03%
Video production companies	10%	150	165	182	200	220	10.05%
Movie directors and producers	10%	500	550	605	666	733	10.04%
High schools	5%	160	168	176	185	194	4.94%
Future brides and grooms	20%	900	1,080	1,296	1,555	1,866	20.00%
Families	15%	260	299	344	396	455	15.02%
Total	13.05%	2,570	2,892	3,265	3,697	4,198	13.05%

4.1.2 Competition and Buying Patterns

Customers are expected to use our services based on traditional factors:

Performance
Flexibility

Video production business plan, strategy and implementation chart image

4.1.3 Distribution Strategy

4.1.4 Service Business Analysis

The major companies that compete in the market are:

Synergy Productions
Local Television Stations
Video Production, Inc.
Gene’s Video Productions
Denton Video Service
VIP Productions

All of our competitors specialize in one aspect of video production. We are a diversified company and we believe that there will be no down period for us. We are not seasonal based, our services are offered throughout the year. With our diversity, we will be able to attract the larger organizations that like to entrust one company to handle all of their affairs.

4.1.4.1 Possible Barriers to Entry

Michael’s Video Service will benefit from several significant barriers to entry which include:

Strategic Alliances
Experience in the field

4.1.5 Strategic Alliances

The company plans to form strategic alliances with clients who require a freelancer to cover various events for them. Michael’s Video Service will also develop strategic alliances with video production companies and work with them as a sub-contractor.

4.1.6 Value Proposition

By using Michael’s Video Service to cover various events for them, companies will be able to save time. They can then use this time saved to focus on their core competencies and the things that they do best. We are in business to provide a service that is second to none. As such, we guarantee that our customers will receive first class service and a final product that is well worth the money invested. To that end, we guarantee a full refund in the event that a customer is not satisfied. At Michael’s Video Service, we take pride in our work and it is our aim to be the best at what we do. We will conduct our business in a professional manner from our methods and character to our standards and ethics.

4.2 Sales Forecast

The following table and chart show our planned sales.

Sales Forecast
	Year 1	Year 2	Year 3
Sales
Video services	$149,000	$175,000	$191,000
Other	$0	$0	$0
Total Sales	$149,000	$175,000	$191,000

Direct Cost of Sales	Year 1	Year 2	Year 3
Video services	$4,800	$5,700	$6,600
Other	$0	$0	$0
Subtotal Direct Cost of Sales	$4,800	$5,700	$6,600

4.2.1 Channels

Sales, Distribution, and Marketing Channels

In marketing our products and services, we will rely on a combination of the following channels:

Direct approach
Yellow pages
Radio and television
Word of mouth
Trade shows

Alliances with video companies that have industry credibility, presence, and distribution are key to our strategy. In monitoring our services and market position, we will rely on feedback from customers with whom we have relationships. This will be done through direct sales. The message associated with our products and services is high quality for less money. Our promotional plan is diverse and will include a range of marketing communications.

4.2.2 Pricing Strategy

We plan to set our pricing based on market value. Our actual price will be based on whether our services are required on a daily or an hourly basis. It is anticipated that we will charge $300 per hour and $1,000 per day. For out of town travel, additional charges will be added for expenses.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

The company’s management philosophy will be based on responsibility and mutual respect. Michael Video Services will maintain an environment and structure that will encourage productivity and respect for customers and fellow employees. Additionally, the environment will encourage employees to have fun by allowing creative independence and providing challenges that are realistic and rewarding.

Michael’s Video Service’s management team is highly experienced and qualified. The management team is lead by Mr. Michael Morisson.

Personnel Plan
	Year 1	Year 2	Year 3
Michael Morisson	$30,000	$32,000	$34,000
Other	$18,000	$30,000	$32,000
Total People	2	3	3

Total Payroll	$48,000	$62,000	$66,000

Financial Plan investor-ready personnel plan .">

We are requesting a loan of $300,000. The funds will be used to purchase video equipment and to cover initial operating expenses.

Payback Strategy

Our repayment for this loan will come from cash in excess of profits, paid monthly. The increase in profits generated by business from television stations will provide funds to repay the loan in 10 years.

6.1 Important Assumptions

The table below highlights some assumptions that are key to the success of the company.

General Assumptions
	Year 1	Year 2	Year 3
Plan Month	1	2	3
Current Interest Rate	10.00%	10.00%	10.00%
Long-term Interest Rate	10.00%	10.00%	10.00%
Tax Rate	25.42%	25.00%	25.42%
Other	0	0	0

6.2 Break-even Analysis

For our Break-even Analysis, we assume running costs of approximately $9,000 per month, which includes gas, phone, and an estimation of other running costs. Variable costs mostly include video tapes. The chart and table below show our break-even point.

Video production business plan, financial plan chart image

Break-even Analysis


Monthly Revenue Break-even	$9,351

Assumptions:
Average Percent Variable Cost	3%
Estimated Monthly Fixed Cost	$9,050

6.3 Projected Profit and Loss

The table below provides the projected income statements for Michael’s Video Service. The company is basing its revenue projections on anticipated sales of services, initially to the television networks and video companies, then to other markets such as high school events and weddings.

Pro Forma Profit and Loss
	Year 1	Year 2	Year 3
Sales	$149,000	$175,000	$191,000
Direct Cost of Sales	$4,800	$5,700	$6,600
Other	$0	$0	$0
Total Cost of Sales	$4,800	$5,700	$6,600

Gross Margin	$144,200	$169,300	$184,400
Gross Margin %	96.78%	96.74%	96.54%


Expenses
Payroll	$48,000	$62,000	$66,000
Sales and Marketing and Other Expenses	$18,600	$21,400	$24,600
Depreciation	$24,000	$24,000	$24,000
Gas	$4,800	$5,700	$6,600
Utilities & phone	$2,400	$3,000	$3,600
Rent	$3,600	$3,600	$3,600
Payroll Taxes	$7,200	$9,300	$9,900
Other	$0	$0	$0

Total Operating Expenses	$108,600	$129,000	$138,300

Profit Before Interest and Taxes	$35,600	$40,300	$46,100
EBITDA	$59,600	$64,300	$70,100
Interest Expense	$30,000	$28,984	$26,844
Taxes Incurred	$1,065	$2,829	$4,894

Net Profit	$4,535	$8,487	$14,362
Net Profit/Sales	3.04%	4.85%	7.52%

6.4 Financial Risks and Contingencies

The company recognizes that it is subject to both market and industry risks. We believe our risks are as follows, and we are addressing each as indicated. We face all the risks associated with being a start-up company. We feel that we can overcome these with our experience in the industry and by quickly establishing desired relationships. The economy in south Ohio is based on the oil and gas industry, which is very unstable. Having seen the oil bust in the 1980’s and its effects on the economy, we have diversified our efforts and will be going after markets that will not be affected by fluctuations in the oil and gas industry.

6.5 Projected Cash Flow

The following chart and table present the cash flow assumptions for the company.

Pro Forma Cash Flow
	Year 1	Year 2	Year 3
Cash Received

Cash from Operations
Cash Sales	$37,250	$43,750	$47,750
Cash from Receivables	$90,375	$127,520	$140,955
Subtotal Cash from Operations	$127,625	$171,270	$188,705

Additional Cash Received
Sales Tax, VAT, HST/GST Received	$0	$0	$0
New Current Borrowing	$0	$0	$0
New Other Liabilities (interest-free)	$0	$0	$0
New Long-term Liabilities	$0	$0	$0
Sales of Other Current Assets	$0	$0	$0
Sales of Long-term Assets	$0	$0	$0
New Investment Received	$0	$0	$0
Subtotal Cash Received	$127,625	$171,270	$188,705

Expenditures	Year 1	Year 2	Year 3

Expenditures from Operations
Cash Spending	$48,000	$62,000	$66,000
Bill Payments	$64,802	$80,965	$86,360
Subtotal Spent on Operations	$112,802	$142,965	$152,360

Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out	$0	$0	$0
Principal Repayment of Current Borrowing	$0	$0	$0
Other Liabilities Principal Repayment	$0	$0	$0
Long-term Liabilities Principal Repayment	$0	$20,330	$22,458
Purchase Other Current Assets	$0	$0	$0
Purchase Long-term Assets	$0	$0	$0
Dividends	$0	$0	$0
Subtotal Cash Spent	$112,802	$163,295	$174,818

Net Cash Flow	$14,823	$7,975	$13,887
Cash Balance	$74,823	$82,798	$96,685

6.6 Projected Balance Sheet

Projected balance sheets are provided below.

Pro Forma Balance Sheet
	Year 1	Year 2	Year 3
Assets

Current Assets
Cash	$74,823	$82,798	$96,685
Accounts Receivable	$21,375	$25,105	$27,400
Inventory	$1,200	$1,425	$1,650
Other Current Assets	$0	$0	$0
Total Current Assets	$97,398	$109,328	$125,736

Long-term Assets
Long-term Assets	$240,000	$240,000	$240,000
Accumulated Depreciation	$24,000	$48,000	$72,000
Total Long-term Assets	$216,000	$192,000	$168,000
Total Assets	$313,398	$301,328	$293,736

Liabilities and Capital	Year 1	Year 2	Year 3

Current Liabilities
Accounts Payable	$6,863	$6,636	$7,139
Current Borrowing	$0	$0	$0
Other Current Liabilities	$0	$0	$0
Subtotal Current Liabilities	$6,863	$6,636	$7,139

Long-term Liabilities	$300,000	$279,670	$257,212
Total Liabilities	$306,863	$286,306	$264,351

Paid-in Capital	$17,000	$17,000	$17,000
Retained Earnings	($15,000)	($10,465)	($1,978)
Earnings	$4,535	$8,487	$14,362
Total Capital	$6,535	$15,022	$29,384
Total Liabilities and Capital	$313,398	$301,328	$293,736

Net Worth	$6,535	$15,022	$29,384

6.7 Business Ratios

The following table presents important business ratios from the motion picture production industry, as determined by the Standard Industry Classification (SIC) Index code 7812, Motion Picture and Video Production.

Ratio Analysis
	Year 1	Year 2	Year 3	Industry Profile
Sales Growth	0.00%	17.45%	9.14%	0.00%

Percent of Total Assets
Accounts Receivable	6.82%	8.33%	9.33%	0.00%
Inventory	0.38%	0.47%	0.56%	0.00%
Other Current Assets	0.00%	0.00%	0.00%	100.00%
Total Current Assets	31.08%	36.28%	42.81%	100.00%
Long-term Assets	68.92%	63.72%	57.19%	0.00%
Total Assets	100.00%	100.00%	100.00%	100.00%

Current Liabilities	2.19%	2.20%	2.43%	0.00%
Long-term Liabilities	95.72%	92.81%	87.57%	0.00%
Total Liabilities	97.91%	95.01%	90.00%	0.00%
Net Worth	2.09%	4.99%	10.00%	100.00%

Percent of Sales
Sales	100.00%	100.00%	100.00%	100.00%
Gross Margin	96.78%	96.74%	96.54%	0.00%
Selling, General & Administrative Expenses	93.96%	91.89%	88.98%	0.00%
Advertising Expenses	4.03%	4.00%	4.19%	0.00%
Profit Before Interest and Taxes	23.89%	23.03%	24.14%	0.00%

Main Ratios
Current	14.19	16.48	17.61	0.00
Quick	14.02	16.26	17.38	0.00
Total Debt to Total Assets	97.91%	95.01%	90.00%	0.00%
Pre-tax Return on Net Worth	85.69%	75.33%	65.53%	0.00%
Pre-tax Return on Assets	1.79%	3.76%	6.56%	0.00%

Additional Ratios	Year 1	Year 2	Year 3
Net Profit Margin	3.04%	4.85%	7.52%	n.a
Return on Equity	69.40%	56.50%	48.88%	n.a

Activity Ratios
Accounts Receivable Turnover	5.23	5.23	5.23	n.a
Collection Days	57	65	67	n.a
Inventory Turnover	4.50	4.34	4.29	n.a
Accounts Payable Turnover	10.44	12.17	12.17	n.a
Payment Days	27	31	29	n.a
Total Asset Turnover	0.48	0.58	0.65	n.a

Debt Ratios
Debt to Net Worth	46.96	19.06	9.00	n.a
Current Liab. to Liab.	0.02	0.02	0.03	n.a

Liquidity Ratios
Net Working Capital	$90,535	$102,692	$118,596	n.a
Interest Coverage	1.19	1.39	1.72	n.a

Additional Ratios
Assets to Sales	2.10	1.72	1.54	n.a
Current Debt/Total Assets	2%	2%	2%	n.a
Acid Test	10.90	12.48	13.54	n.a
Sales/Net Worth	22.80	11.65	6.50	n.a
Dividend Payout	0.00	0.00	0.00	n.a

Sales Forecast
		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Sales
Video services	0%	$5,000	$7,000	$12,000	$13,000	$13,000	$13,000	$14,000	$14,000	$14,000	$15,000	$15,000	$14,000
Other	0%	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Sales		$5,000	$7,000	$12,000	$13,000	$13,000	$13,000	$14,000	$14,000	$14,000	$15,000	$15,000	$14,000

Direct Cost of Sales		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Video services		$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400
Other		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Subtotal Direct Cost of Sales		$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400

Personnel Plan
		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Michael Morisson	0%	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500
Other	0%	$1,500	$1,500	$1,500	$1,500	$1,500	$1,500	$1,500	$1,500	$1,500	$1,500	$1,500	$1,500
Total People		2	2	2	2	2	2	2	2	2	2	2	2

Total Payroll		$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000

General Assumptions
	Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Plan Month	1	2	3	4	5	6	7	8	9	10	11	12
Current Interest Rate	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%
Long-term Interest Rate	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%
Tax Rate	30.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%
Other	0	0	0	0	0	0	0	0	0	0	0	0

Pro Forma Profit and Loss
		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Sales		$5,000	$7,000	$12,000	$13,000	$13,000	$13,000	$14,000	$14,000	$14,000	$15,000	$15,000	$14,000
Direct Cost of Sales		$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400
Other		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Cost of Sales		$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400

Gross Margin		$4,600	$6,600	$11,600	$12,600	$12,600	$12,600	$13,600	$13,600	$13,600	$14,600	$14,600	$13,600
Gross Margin %		92.00%	94.29%	96.67%	96.92%	96.92%	96.92%	97.14%	97.14%	97.14%	97.33%	97.33%	97.14%


Expenses
Payroll		$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000
Sales and Marketing and Other Expenses		$1,300	$1,300	$1,600	$1,600	$1,600	$1,600	$1,600	$1,600	$1,600	$1,600	$1,600	$1,600
Depreciation		$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000
Gas		$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400
Utilities & phone		$200	$200	$200	$200	$200	$200	$200	$200	$200	$200	$200	$200
Rent		$300	$300	$300	$300	$300	$300	$300	$300	$300	$300	$300	$300
Payroll Taxes	15%	$600	$600	$600	$600	$600	$600	$600	$600	$600	$600	$600	$600
Other		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

Total Operating Expenses		$8,800	$8,800	$9,100	$9,100	$9,100	$9,100	$9,100	$9,100	$9,100	$9,100	$9,100	$9,100

Profit Before Interest and Taxes		($4,200)	($2,200)	$2,500	$3,500	$3,500	$3,500	$4,500	$4,500	$4,500	$5,500	$5,500	$4,500
EBITDA		($2,200)	($200)	$4,500	$5,500	$5,500	$5,500	$6,500	$6,500	$6,500	$7,500	$7,500	$6,500
Interest Expense		$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500	$2,500
Taxes Incurred		($2,010)	($1,175)	$0	$250	$250	$250	$500	$500	$500	$750	$750	$500

Net Profit		($4,690)	($3,525)	$0	$750	$750	$750	$1,500	$1,500	$1,500	$2,250	$2,250	$1,500
Net Profit/Sales		-93.80%	-50.36%	0.00%	5.77%	5.77%	5.77%	10.71%	10.71%	10.71%	15.00%	15.00%	10.71%

Pro Forma Cash Flow
		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Cash Received

Cash from Operations
Cash Sales		$1,250	$1,750	$3,000	$3,250	$3,250	$3,250	$3,500	$3,500	$3,500	$3,750	$3,750	$3,500
Cash from Receivables		$0	$125	$3,800	$5,375	$9,025	$9,750	$9,750	$9,775	$10,500	$10,500	$10,525	$11,250
Subtotal Cash from Operations		$1,250	$1,875	$6,800	$8,625	$12,275	$13,000	$13,250	$13,275	$14,000	$14,250	$14,275	$14,750

Additional Cash Received
Sales Tax, VAT, HST/GST Received	0.00%	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
New Current Borrowing		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
New Other Liabilities (interest-free)		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
New Long-term Liabilities		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Sales of Other Current Assets		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Sales of Long-term Assets		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
New Investment Received		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Subtotal Cash Received		$1,250	$1,875	$6,800	$8,625	$12,275	$13,000	$13,250	$13,275	$14,000	$14,250	$14,275	$14,750

Expenditures		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12

Expenditures from Operations
Cash Spending		$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000	$4,000
Bill Payments		$110	$3,318	$4,174	$5,642	$6,817	$5,850	$5,892	$7,067	$6,133	$7,075	$6,350	$6,375
Subtotal Spent on Operations		$4,110	$7,318	$8,174	$9,642	$10,817	$9,850	$9,892	$11,067	$10,133	$11,075	$10,350	$10,375

Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Principal Repayment of Current Borrowing		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other Liabilities Principal Repayment		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-term Liabilities Principal Repayment		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Purchase Other Current Assets		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Purchase Long-term Assets		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Dividends		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Subtotal Cash Spent		$4,110	$7,318	$8,174	$9,642	$10,817	$9,850	$9,892	$11,067	$10,133	$11,075	$10,350	$10,375

Net Cash Flow		($2,860)	($5,443)	($1,374)	($1,017)	$1,458	$3,150	$3,358	$2,208	$3,867	$3,175	$3,925	$4,375
Cash Balance		$57,140	$51,698	$50,323	$49,307	$50,765	$53,915	$57,273	$59,482	$63,348	$66,523	$70,448	$74,823

Pro Forma Balance Sheet
		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Assets	Starting Balances

Current Assets
Cash	$60,000	$57,140	$51,698	$50,323	$49,307	$50,765	$53,915	$57,273	$59,482	$63,348	$66,523	$70,448	$74,823
Accounts Receivable	$0	$3,750	$8,875	$14,075	$18,450	$19,175	$19,175	$19,925	$20,650	$20,650	$21,400	$22,125	$21,375
Inventory	$2,000	$1,600	$1,200	$800	$1,400	$1,000	$600	$1,200	$800	$1,400	$1,000	$600	$1,200
Other Current Assets	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Current Assets	$62,000	$62,490	$61,773	$65,198	$69,157	$70,940	$73,690	$78,398	$80,932	$85,398	$88,923	$93,173	$97,398

Long-term Assets
Long-term Assets	$240,000	$240,000	$240,000	$240,000	$240,000	$240,000	$240,000	$240,000	$240,000	$240,000	$240,000	$240,000	$240,000
Accumulated Depreciation	$0	$2,000	$4,000	$6,000	$8,000	$10,000	$12,000	$14,000	$16,000	$18,000	$20,000	$22,000	$24,000
Total Long-term Assets	$240,000	$238,000	$236,000	$234,000	$232,000	$230,000	$228,000	$226,000	$224,000	$222,000	$220,000	$218,000	$216,000
Total Assets	$302,000	$300,490	$297,773	$299,198	$301,157	$300,940	$301,690	$304,398	$304,932	$307,398	$308,923	$311,173	$313,398

Liabilities and Capital		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12

Current Liabilities
Accounts Payable	$0	$3,180	$3,988	$5,413	$6,622	$5,655	$5,655	$6,863	$5,897	$6,863	$6,138	$6,138	$6,863
Current Borrowing	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other Current Liabilities	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Subtotal Current Liabilities	$0	$3,180	$3,988	$5,413	$6,622	$5,655	$5,655	$6,863	$5,897	$6,863	$6,138	$6,138	$6,863

Long-term Liabilities	$300,000	$300,000	$300,000	$300,000	$300,000	$300,000	$300,000	$300,000	$300,000	$300,000	$300,000	$300,000	$300,000
Total Liabilities	$300,000	$303,180	$303,988	$305,413	$306,622	$305,655	$305,655	$306,863	$305,897	$306,863	$306,138	$306,138	$306,863

Paid-in Capital	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000	$17,000
Retained Earnings	($15,000)	($15,000)	($15,000)	($15,000)	($15,000)	($15,000)	($15,000)	($15,000)	($15,000)	($15,000)	($15,000)	($15,000)	($15,000)
Earnings	$0	($4,690)	($8,215)	($8,215)	($7,465)	($6,715)	($5,965)	($4,465)	($2,965)	($1,465)	$785	$3,035	$4,535
Total Capital	$2,000	($2,690)	($6,215)	($6,215)	($5,465)	($4,715)	($3,965)	($2,465)	($965)	$535	$2,785	$5,035	$6,535
Total Liabilities and Capital	$302,000	$300,490	$297,773	$299,198	$301,157	$300,940	$301,690	$304,398	$304,932	$307,398	$308,923	$311,173	$313,398

Net Worth	$2,000	($2,690)	($6,215)	($6,215)	($5,465)	($4,715)	($3,965)	($2,465)	($965)	$535	$2,785	$5,035	$6,535

The quickest way to turn a business idea into a business plan

Fill-in-the-blanks and automatic financials make it easy.

No thanks, I prefer writing 40-page documents.

Discover the world’s #1 plan building software

The Ultimate Guide to Video Marketing

Learn the art of video marketing with these videos, templates, tips, and resources.

THE ULTIMATE VIDEO MARKETING STARTER PACK

Videos, templates, resources, and tips on how to get your video marketing strategy off the ground.

Published: 05/30/24

If you’re looking for a video marketing guide, you’re not alone. Of all businesses, 90% use video marketing as part of their overall digital marketing strategy. And 68% of marketers who aren’t using video plan to build a video strategy in 2024.

There’s no strategy like video marketing for educating, generating leads, and converting customers. And video production is more cost-effective and easier to accomplish than ever. Today you can shoot in high-quality, 4K video — even with your smartphone. But between strategy, equipment, and editing software, video marketing is still pretty complicated.

Trust us, we’re on HubSpot's Content Strategy team. We create editorial videos day in and day out. That includes riding successes and working through challenges. Below, we share our tips for creating a video marketing strategy that actually works.

The Importance of Video Marketing

Developing a Video Marketing Strategy

Types of Marketing Videos

How to Make a Video for Your Business

Video marketing distribution.

Measuring Your Videos

Video marketing started in earnest in 2005 with the launch of YouTube. Google bought YouTube in October 2006, and by 2009 there were seven different ad formats on the platform.

As the technology to create quality videos gets easier, it’s become more popular with marketers. But that’s not the only reason video is the dominant form of communication today.

First, there was the rise of smartphone technology that made watching videos easier and more convenient. Then the pandemic boosted online media consumption by 215% in the U.S.

Fast forward to 2024, and audiences are spending an average of 17 hours a week watching videos online. We’re a part of that statistic. Between the two of us, we watch dozens of hours of video a week. Ignoring video marketing is no longer an option for brands who want to excel. Here are some of video marketing's biggest benefits.

Video marketing encourages social shares.

Video is the second most popular content type on social media for increasing engagement. Platforms like YouTube and TikTok have always been about video. Meanwhile, platforms like Instagram and Face8 4book are focusing on video.

Even platforms that don’t offer native video uploads emphasize the value of video marketing.

Tweets on X get 10x more engagement.
68% of video marketers plan to use LinkedIn video this year.
Almost a billion videos are watched per day on Pinterest.

Video marketing guide statistics: Most popular platforms for video

The Ultimate Video Marketing Starter Kit

Access everything you need to get started with video marketing.

Video Script Templates
Video Best Practices
Example Videos

Download Free

All fields are required.

You're all set!

Click this link to access this resource at any time.

Your Video Marketing Guide Through the Flywheel

Too often, companies jump at the opportunity to create their first video without thinking. They spend the whole budget on an explainer video for their homepage, but as soon as the project is complete, all future video plans screech to a halt.

Other businesses churn out a slew of social videos. But they often just copy fads they've seen, so their videos don’t connect to their audience’s challenges or habits.

Video marketing can’t be an impulsive guessing game. Instead, we suggest that teams create a comprehensive video marketing strategy that applies to every part of your flywheel .

Start with the inbound methodology.

The inbound methodology is the marketing and sales approach focused on attracting customers through content and interactions that are relevant and helpful. Each video you create should address your audience’s challenges and provide a solution.

Video marketing strategy: HubSpot’s inbound methodology

We also recommend that you stock up on camera batteries and SD cards. Recording video will cause you to run through these quickly.

Audio Equipment

While many cameras have an internal microphone to record audio, you’ll want to invest in some quality sound equipment. Most internal microphones aren’t powerful enough to adequately record audio.

When we shoot with an iPhone, we opt for an easy-to-use and inexpensive microphone. For example, the Movo VXR-10 PRO microphone has been a helpful plug-and-play solution for capturing audio on the move.

There are even more options for recording audio with a DSLR. Lavaliers can be wired or wireless. You’ve likely seen many videos that use a lavalier microphone — the small piece that clips below the collar of the talent’s shirt.

However, lav mics aren’t our favorite. They can be uncomfortable and distracting for the talent (who has to have a wire threaded down their shirt) and for the viewer (who has to see a microphone for the whole video). Instead, we use a shotgun mic. They’re reliable, remain out of the shot, and record background noise in a natural-sounding way.

To set this up in your office studio, you’ll need a shotgun mic like the Rode VideoMic NTG . You’ll also need:

Shotgun clips .
A light stand .
XLR cables .
A Zoom H4N recorder .

The Zoom recorder will allow you to record audio separately on an SD card and adjust the gain for the space you’re shooting in. Plus, we found that this is an easy-to-use option that we can set up quickly.

Video marketing guide example: Shotgun microphone and Zoom recorder

Don't forget to share this post!

Why Short-Form Video Is the Future Of Lead Generation

Disruptive AI Video Trends that are Transforming Marketing in 2024

6 Short-Form Video Trends Marketers Should Watch in 2024 [New Data]

How Video Consumption Is Changing in 2024 [New Research]

The Psychology of Short-Form Content: Why We Love Bite-Sized Videos

How to Write a Video Script [Template + Video]

The Hustle's YouTube Team Tells Us Their Favorite Short-Form Videos of 2023

22 Video Marketing & Advertising Campaigns You'll Actually Enjoy Watching

21 Royalty-Free Music Sites to Help You Make the Perfect Video Soundtrack

8 Holiday Gifts for the Content Creator in Your Life

Videos, resources, and tips on how to get your video marketing strategy off the ground.

Marketing software that helps you drive revenue, save time and resources, and measure and optimize your investments — all on one easy-to-use platform

Choose the plan that fits your needs.

For individuals

Up to 25 videos/person
Up to 5 mins/video

Key Features

Screen recording & cam bubble

Unlimited transcriptions

Video privacy controls

Viewer insights

Team workspace

Comments & emoji reactions

Workspace Members & Videos

Up to 50 Creators Lite
5 min per video recording length
Unlimited screenshots

Team Workspace

Personal Library
Shared Library
Team Library

Video Recording

Video quality up to 720p
Screen & cam bubble recording
System audio
Recording Canvas
Camera frames
Virtual backgrounds
Background noise suppression

Video Editing

GIF thumbnails

Content Management

Video archiving

Video Analytics

Video interaction.

Emoji reactions
Video comments

Security & Privacy

Restrict viewing to Creator only
Restrict access to specific people

Integrations

Jira, Jira Service Desk, and Confluence
FigJam (embed)
Notion (embed)
Intercom, Zendesk, Dropbox, GitLab, and more (embed)
Unlimited videos
Unlimited recording length

Everything in Starter, plus

Live Rewind

Edit by Transcript

Remove Loom branding
Embed links in video

Import and download

Password protected videos
Unlimited Members
Unlimited videos per person
Unlimited video recording length
High-def up to 4k
Recording canvas
Drawing tool & mouse emphasis
Custom recording dimensions
Do not disturb
Instant video editing
Custom video thumbnail
Filler word removal

Custom Branding

Add logo on the video page
Customize colors of the video player
Video uploads
Engagement insights
Exportable engagement insights
Video transcription (beta)
Closed captions
Priority support

For scaling teams

Everything in Business, plus

Salesforce integration (Beta)

Request email to view

SSO (SAML) and SCIM

Advanced content privacy

Video Transcriptions (beta)
Password-protected videos
Private to the Workspace or Group

Admin Controls

Account transfer and ownership of content
Directory & provisioning (SCIM)
User roles and management
Activity log and content activity report
Custom data retention policies
Dedicated support
Dedicated account manager
Custom onboarding & education

Auto-title Quarterly market trends review

Loom AI .css-1ap0jla{display:block;max-width:.5em;}.css-1ap0jla > svg.lns-logoSvg{display:block;width:100%;height:100%;max-width:.5em;}

Record better, faster video messages with Loom AI — so you can be more productive and efficient at work. All without lifting a finger. Add to your plan for $4/creator/month (annually).

Message Composer

Auto Titles

Auto Summaries

Auto Chapters

Filler Word Removal

Are you a teacher? Try our free Loom for Education plan .

Yes, you can try our Business plan free for 14 days. If you would like a free 14-day trial of our Enterprise plan please contact sales .

You can be billed monthly, but save 17% if you pay annually. We currently accept credit card payment, but if you are interested in paying via ACH, you can reach out to our Sales team here who can answer questions and assess your eligibility.

Loom is built for both teams and individuals and so all our plans (except for our special Education plan) include a team Workspace with a Personal, Shared, and Team Library for your videos and screenshots. You can invite people to your Workspace in your Workspace settings.

On Starter you can add up to 50 Creator Lite members to your team Workspace for free. On Business you can add both Creator Lite members and Creators to your team Workspace.

If a Creator is downgraded in the workspace, they retain Creator access for the remainder of the cycle. If a member of the workspace is deactivated, the seat will be forfeiting all fees and access for the remainder of that billing cycle.

All our plans include screenshots. If you take a screenshot, we'll generate an instantly shareable link, and the screenshot will live in its own section of your Workspace, just as regular videos in Loom do. Read more about how to take a screenshot .

Yes. We have a dedicated free plan for teachers and students called Loom for Education. Learn more on how to get verified for a Loom for Education account here .

Paid Plans : Admins of accounts on paid plans (Business or Enterprise) can add Loom AI to their current plan for $4 creator/month (billed annually) or $5 creator/month (billed monthly). You can purchase the Loom AI suite here .

Starter Free: Users on a Starter Free plan will need to upgrade to a paid plan first in order to add Loom AI. You can upgrade and purchase the Loom AI suite here .

The Loom AI suite costs $4 creator/month (billed annually) or $5 creator/month (billed monthly) for the number of seats in your workspace. Every creator or admin in your workspace will have access to the AI features.

You can purchase the Loom AI suite here .

Lots of companies are adding AI to their products. At Loom, our No. 1 priority is to build AI features that further our mission to unlock effective communication. The Loom AI suite — both current and upcoming features — are built to help you:

Get Work Done Faster — 67% of users do not edit the auto generated title, gaining efficiency benefit without investing additional time. The Loom AI Suite reduces time spent packaging and sharing Looms after recording; so you can send a polished, high quality video quickly.
Increase Productivity — 73% of people said it is “extremely or very valuable” to their workflows today. AI Suite reduces the need to re-record Looms so you can make your first take your best take.
Communicate Effectively — 18% more viewer engagement. AI Suite adds context instantly and automatically — title, summary, chapters, and tasks — to ensure your message is clear and viewers can quickly consume and respond.

OpenAI receives transcript data as text files in order to generate titles and summaries. OpenAI does not receive full videos or audio.

We only send data to trusted third-party systems that are subject to strict privacy and security controls. Our third-party sub-processors are subject to appropriate agreements with Loom and/or its Users to secure and protect the confidentiality of data. Furthermore, we have executed DPAs with our subprocessors.

More details and Loom's list of sub-processors can be found here . Loom's AI Terms can be found here .

More than 25 million people across 400,000 companies choose Loom

How Much Does Video Hosting Cost? (2024 Price Comparison)

These days, most organizations use at least some form of video for marketing, training, or another integral part of their ongoing operations. So, finding a place to host all of this content is a big deal. But with so many options and pricing plans to choose from, it can be hard to know which service is right for you. That’s why we’ve put together this comprehensive guide on how much video hosting costs in 2024.

We’ll take a look at popular services like Jetpack VideoPress, Vimeo, Wistia, and more, comparing their features and prices side-by-side to help you find the right fit for your budget.

So if you’re looking for a place to host your videos or just want a better understanding of what’s out there, read on!

Why pay for a video hosting service?

When it comes to hosting your videos, there are a number of options available. While some websites may choose to host videos directly on their own server, this can quickly consume bandwidth and slow down the website’s loading time. This is where video hosting services and platforms come in.

There are a number of pros and cons to paying for a video hosting service, specifically in the context of WordPress:

Pros of a video hosting service:

Improved user experience : By hosting videos on a dedicated video hosting platform , they will usually load faster and more smoothly for visitors to your website, leading to a better overall user experience.
Bandwidth savings: Video files can be very large and hosting them on your own server can consume a significant amount of bandwidth, potentially leading to slow loading times and high costs. With a video hosting service, the provider will handle the bandwidth, freeing up your site’s resources.
Security : Video hosting services often provide security features such as encryption and secure storage, helping to keep the website’s content safe from theft or misuse.
Advanced features : Many video hosting services offer advanced features like customizable video players, analytics, and monetization options that may not be available through self-hosting.

Cons of a video hosting service:

Cost : Of course, the main disadvantage of paying for a video hosting service is the cost. Depending on the provider and plan selected, this can be a fairly significant monthly expense.
Dependence on a third party : By relying on a third party to host videos, you’re dependent on the video hosting service to keep its content accessible and secure. If the service experiences downtime or security breaches, your videos may become unavailable. They may also remove or limit access to your videos if they feel you’ve violated a policy. This is often an automated process with limited avenues for resolving disputes.
Limitations : Video hosting services come with varying limitations, such as file size restrictions, file format restrictions, and bandwidth limits. These things can impact your ability to host certain types of content or reach a desired audience.

While there are certainly pros and cons to paying for a video hosting service, it’s often a worthwhile expense for websites looking to provide a fast, secure, and user-friendly video experience.

What determines the price of video hosting?

The cost of a video hosting service can be influenced by a number of factors, including:

1. Storage limits

The amount of storage space required by your videos will impact the cost of the video hosting service. Typically, the more storage space you need, the higher the cost.

2. Hosting infrastructure

The type of hosting infrastructure used affects the service price, too. For example, a provider that uses more advanced, high-performance servers may charge a higher fee than one that uses less sophisticated infrastructure.

3. Streaming quality and speed

The quality and speed of the video streaming experience will also impact the total amount you’ll shell out each month. Plans that offer high-quality, fast streaming may be more expensive than those that offer a lower quality or slower streaming experience.

4. Bandwidth

Some video hosting providers may charge based on the bandwidth used. So, as your content becomes more popular, you may need to upgrade to a higher plan.

5. Technical support

The level of technical support offered by the video hosting service can also have an impact on what you’ll pay. Providers that offer more extensive technical support, such as 24/7 assistance and live chat, may charge a higher fee than ones that offer more limited support options.

6. Video monetization

Some video hosting services offer monetization options, such as the ability to show ads or to charge for access to certain videos. The addition of this feature can contribute to a higher fee.

7. Ad-free streaming

Some streaming platforms may have options to disable ads before, after, or during your videos. This provides an uninterrupted experience for viewers and helps keep them focused on your message. Allowing for this ad-free experience, however, may come at your expense.

8. Customization

Providers that offer more extensive customization options, such as the ability to fully brand the video player, may charge a higher fee than ones that offer more basic options.

9. Integrations

The ability to integrate the video hosting service with other platforms, such as social media or ecommerce tools can impact the cost, too. Providers that offer a wide range of integrations may charge a higher fee than ones that offer more limited integration options.

10. Scalability

If your aim is to grow your video offerings, scalability is vital. Providers that make it easy to increase storage, bandwidth, and other resources as needed may charge a higher fee, too.

There are many factors that can impact the cost of a video hosting service. When considering a provider, it’s important to carefully evaluate the needs and goals of your website.

Pricing comparison of top video hosting platforms

1. Jetpack VideoPress

Jetpack VideoPress is specifically designed for WordPress and WooCommerce users, offering a sleek and unobtrusive video player that’s perfectly tailored to showcase your content.

Users can take advantage of the platform’s broad customization options , including the use of blocks for easy page and post building.

Additionally, there’s no limit to the number of users, making it an ideal solution for those with multiple contributors on their site. With its clean and lightweight interface, Jetpack VideoPress is designed to stay out of the way and allow your video content to take center stage.

You likely recognize the Jetpack name as one of the premier toolkits for WordPress sites. It’s built by the same people behind WordPress.com and WooCommerce.

You can get access to Jetpack VideoPress as part of the Jetpack plugin, and take advantage of its other security, performance, and marketing features. Or get the dedicated Jetpack VideoPress plugin and enjoy up to 1TB of video storage with a basic plan.

Key features of Jetpack VideoPress:

High-quality video playback with up to 4K resolution.
The ability for viewers to select the video format they want, from 480p to 4K, with their selection saved for future videos.
Playback speed controls
Support for smooth playback of rapid-motion videos, up to 60 frames per second (FPS)
Full mobile optimization
Picture-in-picture support
The ability to drag and drop videos directly into WordPress and manage them directly from the Media Library
An ad-free experience
A global CDN for high performance
The ability to create full-width video backgrounds for your WordPress site

Pros of Jetpack VideoPress:

Integration with WordPress and WooCommerce makes it easy to manage your video content.
A clean and lightweight interface helps keep the focus on your videos.
It has a fully customizable player and ad-free experience.

Cons of Jetpack VideoPress:

The free version only allows for a single video

Ease of use:

Jetpack VideoPress is super easy to use and navigate. The interface is straightforward and intuitive, making it easy to upload and manage your videos. You can quickly create customized video galleries in minutes.

Best use cases:

Jetpack VideoPress is best for WordPress and WooCommerce users who need a reliable video hosting solution that can be easily integrated with their existing website. If user experience or keeping the attention of marketing leads is important to you, the fast, reliable hosting infrastructure and the ad-free, branded player is a great option.

Jetpack VideoPress is available through the Jetpack Complete plan ($50 / month with additional world-class WordPress security, performance, and marketing tools) or through an individual plugin for just $10 per month (billed annually).

It includes 1TB of storage and an ad-free and fully customizable player for unlimited users. It also includes top-notch support from Happiness Engineers, who know both VideoPress and WordPress in and out.

Vimeo plugin in the WordPress repository

Vimeo is a popular video hosting and sharing platform that was founded in 2004 by filmmakers Jake Lodwick and Zach Klein. The platform was created as an alternative to more commercial video-sharing sites like YouTube , with a focus on providing a space for artists, filmmakers, and content creators to showcase their work and connect with their audiences.

Vimeo has since developed even more features and tools, including support for high-definition video, customization options for the video player, and a robust video editing suite. Today, Vimeo is one of the largest and most popular video-sharing platforms on the internet, with millions of users and a vast library of creative content.

Key features of Vimeo:

Customizable embedding
Live streaming capabilities
360-degree video support
Simulated live event support
API integration
Privacy controls
Streaming up to 4k Ultra HD

Pros of Vimeo:

It offers high-quality video streaming across a variety of use cases.
It includes advanced customization options for the video player, so it will seamlessly flow with the rest of your site.
It includes a robust video editing suite with a variety of tools.
It’s ad-free, which means that site visitors won’t be distracted by ads from your competitors while watching your content.

Cons of Vimeo:

The platform can be expensive for those who need a lot of storage space or advanced features.
The interface is less intuitive than some of the other platforms.
Pricing is based on the number of users, which makes it a much more expensive option for sites with multiple administrators.

Vimeo is relatively easy to use, but the interface can be a bit overwhelming for those who are just getting started. However, it does offer a variety of helpful tutorials and documentation to help users get up and running.

Vimeo is best for businesses, organizations, marketers, and content creators who need a reliable and high-quality video hosting solution. The platform is ideal for those who need a wide range of customization options and advanced features to give their videos a professional touch. The integrated live streaming capabilities make it a great option for events and conferences, too, though this feature is only included with higher-tier plans.

Vimeo offers four pricing plans:

The Starter plan, which costs $9 per user per month and supports 60 videos.
The Standard plan, which costs $25 per user per month and supports 120 videos.
The Advanced plan, which costs $65 per user per month and supports 240 videos.
An enterprise plan, which is customized based on your specific needs.

Wistia is a video hosting and marketing platform that was founded in 2006. The company was created by Chris Savage, Brendan Schwartz, and Jeff Vincent with the goal of making video hosting and marketing simple and accessible for businesses of all sizes.

Wistia was one of the first companies to focus specifically on the needs of digital marketers, offering a range of features and tools designed to help organizations effectively use video as part of their lead generation efforts. It’s used by thousands of businesses worldwide.

Key features of Wistia:

A customizable video player design
Customizable calls-to-action and in-video lead generation tools
Video editing capabilities
Collaborative feedback opportunities for teams
Advanced A/B testing
Livestreaming
In-depth analytics and tracking

Pros of Wistia:

It’s focused on the needs of businesses and marketers for advanced lead generation.
It has advanced integrations and tools for creating and optimizing videos.
It includes in-depth analytics and tracking capabilities.

Cons of Wistia:

The platform can be expensive for those who need more than three users or a lot of storage space.
There’s no official WordPress plugin to integrate Wistia with your site.

The Finest Video Hosting for WordPress

Stunning-quality video with none of the hassle. Drag and drop videos through the WordPress editor and keep the focus on your content, not the ads.

Wistia is designed with digital marketers in mind; anyone in the industry will likely find it easy to use. Advanced integration of forms with your existing tech stack might take a bit of learning.

Wistia is best for businesses that require an integrated video hosting and marketing platform. The platform’s advanced features, such lead capture tools, A/B testing, and in-depth analytics, make it ideal for those who want to optimize their videos for maximum marketing effectiveness. Medium to larger businesses with robust marketing teams will find Wistia most helpful.

A free forever plan that includes support for ten videos, analytics, and captions.
The Plus plan, which costs $19 per month and includes everything in Free as well as support for 20 videos and three users and lead capture forms.
The Pro plan, which costs $79 per month and includes everything in the previous plans, as well as support for 50 videos, five users, A/B testing, and video heat maps.
The Advanced plan, which costs $319 per month and includes all that comes in the other plans, plus support for 250 videos, up to 20 users, livestreaming, and various marketing integrations.

4. JW Player

JW Player is a video platform that has been serving the industry for over a decade. It was founded in 2005 by Dave Otten, Jeroen Wijering, and Brian Rifkin. JW Player started as a simple Flash-based player for delivering video content over the web.

JW Player now powers billions of video views each month on some of the world’s most popular websites. It offers a complete suite of tools and services for creating, managing, monetizing, and distributing video content across any device or website.

Key features of JW Player:

Video hosting and streaming
Embeddable video players
Analytics and insights
Advertising and monetization options for professional broadcasters and media creators
API access and integrations for advanced users and developers
Live broadcasting capabilities

Pros of JW Player:

It’s one of the most well-established video platforms.
It has highly-customizable players and tools.
It includes enterprise-level playback, livestreaming, and custom integration options.
It offers advanced monetization tools.
It has great customer support.

Cons of JW Player:

The free version is limited in terms of features, storage, and bandwidth.
Pricing plans are hidden behind a contact form, making it more difficult to do product comparisons.

JW Player is fairly easy to use, even for those who are not familiar with the basics of online video hosting. The platform’s user interface is fairly intuitive and straightforward, making it easy to quickly get up and running.

JW Player is best for those who need a powerful, feature-rich platform for hosting, managing, and distributing video content. It’s designed especially for enterprise-level video producers for whom video is a major revenue driver. The platform’s advanced monetization tools make it a great choice for those looking to monetize their videos.

JW Player offers a free trial for up to 30 days to test everything out. The trial includes 25 GB of hosting space, plus 75 GB of streaming bandwidth.

All premium plans are hidden behind a contact form, but do seem to include a wide range of features including those for the video player, streaming functions, as well as engagement and monetization options.

As it’s more geared towards advanced and enterprise-level users, it’s not likely a great choice for those with a limited budget.

Dacast is a leading online video platform that provides video hosting, livestreaming, and video monetization services to businesses, organizations, and individuals worldwide. The company was founded in 2010 and is headquartered in San Francisco, California.

From the beginning, Dacast focused on providing innovative video solutions that help organizations reach their audiences with engaging video content. With its intuitive interface and cutting-edge technology, Dacast has quickly become a popular choice for businesses and organizations.

Key features of Dacast:

Multiple language options for the video player
The ability to utilize advanced video encoding techniques
Seamless livestreaming with DVR capabilities
Closed captions, which make your videos more accessible
Video monetization options
Detailed video analytics

Pros of Dacast:

It has an intuitive interface that’s easy to use and get started.
It offers unique, advanced features like video monetization and DVR capabilities.
It has competitive pricing with a range of features and options.

Cons of Dacast:

There is no free tier available.
The video player is not as customizable as some other providers.
There is no WordPress plugin available, which can make adding videos to your site more difficult.

Dacast is designed to be user-friendly and intuitive for both beginners and more experienced users. The platform is easy to navigate, with clear menus and options that make it simple to find the tools you need.

Dacast is best for businesses and organizations who want a comprehensive video platform with advanced features. The platform’s monetization and livestreaming tools make it a great choice for those who want to maximize their video content’s potential, while the customizable video player ensures that viewers have a seamless experience.

Dacast does offer a 14-day free trial, so you can try out the features and decide if it’s right for you. After that, there are three plans to choose from:

The Starter plan, which is priced at $39 per month (charged annually), and includes 1.2TB of data per year, as well as 50GB of storage. This includes features like livestreaming, unlimited viewers, and HD broadcasting.
The Event plan, which is priced at $63 per month (charged annually), and comes with 6TB upfront and 50GB of storage, along with real-time analytics, a live countdown, and a paywall.
The Scale plan, which is $188 per month (charged annually) and includes 24 TB per year and 1000 GB of storage, plus unlimited channels, VOD chapter markers, and much more.

There are also custom plan options available for those whose needs exceed the standard plans.

Vidyard is a video marketing and hosting platform that was founded in 2010 by Michael Litt and Devon Galloway. The company was created with the goal of making video marketing and hosting easier and more effective for businesses of all sizes. Vidyard was one of the first companies to offer a comprehensive video hosting and marketing platform, and it quickly became known for its advanced features and tools.

Key features of Vidyard:

Fully customizable calls-to-action that you can place inside videos
Thumbnail A/B testing
Email marketing integrations
Automatic transcripts
Full CRM support
Screen recording tools

Pros of Vidyard:

It integrates with CRMs and sales tools like Salesforce and LinkedIn.
You can use its tools for email marketing. This means that you can easily share videos directly within emails.

Cons of Vidyard:

The price point is out of reach for many small businesses.
While it has a lot of features, these can quickly become overwhelming for sites that just need basic video hosting capabilities.

Vidyard is easy to use and navigate, with an intuitive user interface. The platform offers a range of features and tools that are designed to make video marketing easier, including email marketing, which is super helpful for those who want to promote their videos.

Vidyard is best suited for businesses and organizations looking to enhance their video marketing and sales strategies, improve corporate communications, and develop e-learning and training programs through a comprehensive and secure platform. The platform’s advanced features and tools make it an excellent choice for those who need to track engagement and conversions from their videos.

The Free Forever plan allows you to add up to 25 videos, edit videos, and share your videos via email and social media.
The Pro plan starts at $19 per month (billed annually) and includes hosting for unlimited videos, as well as video analytics and calls-to-action.
The Business plan includes all Pro features, plus full analytics, CRM and MAP integrations, and fully customizable video calls-to-action. Pricing is based on each specific business.

Video hosting comparison table

	Jetpack VideoPress	Vimeo	Wistia	JW Player	Dacast	Vidyard
Storage Limits	1TB	120 – 240 videos	10 – 250 videos	Unavailable	50 – 1000 GB	Unlimited
Streaming Quality and Speed	N/A	Yes	N/A	Unavailable	HD	N/A
Bandwidth	Unlimited	N/A	N/A	Unavailable	1.2 TB – 24 TB/year	N/A
Ease of Use	Yes	No	Yes	Yes	More advanced features	Yes
Technical support	Yes	Yes	Yes	Yes	Yes	Yes
Customization	Yes	Yes	Yes	Yes	Yes	Yes
Integrations	Yes	No	Yes	No	Yes	Yes
Scalability	Yes	Yes	Yes	Yes	Yes	Yes
Pricing	$10 per month	$9/user per month – $65/user per month	Free – $399 per month	Contact for info/Trial available	$39 – $188 per month	Free – $29 per month

How to choose the best video hosting service for your needs

When it comes to choosing the best video hosting service, there are a few key factors you need to consider.

First and foremost, think about whether the tool you choose can grow with you. You don’t want to have to switch providers or significantly increase spending as your videos gain more views or your business grows to include more team members.

Next, think about the features offered by each provider. Make sure they have everything you need, such as analytics, seamless WordPress integration, an ad-free experience, and customization options.

Finally, look at their pricing plans, and make sure that it fits with your goals and provides a high value. Ultimately, the choice should be based on your specific needs.

Which platform offers the best bang for your buck?

When it comes to choosing the right video hosting platform for your business, there are a lot of factors to consider, including cost. To get the best value for your money, it’s important to understand what you need from your video hosting platform and what kind of budget you’re working with.

For businesses that are already on WordPress, or those looking for a highly customizable and scalable environment, Jetpack VideoPress is a great option. With its built-in integration with WordPress and its enterprise-grade features, it offers a cost-effective solution that can grow with your business.

Of course, the best choice for you will depend on your specific needs and requirements. For businesses looking for other features, such as advanced analytics or livestreaming capabilities, other platforms may be a better fit. In that case, our comparison table will help you weigh the pros and cons of each platform and determine which one offers the best bang for your buck.

Frequently asked questions about video hosting and its costs

Want to learn more about how video hosting is priced and how that might affect your decision? Here are some answers to commonly asked questions:

What’s the difference between self-hosting and using a video hosting service?

Self-hosting requires you to have your own server (or a web hosting plan with access to a shared or dedicated server) and manage the hosting, streaming, and backups of your video content yourself. This includes hosting and storing your videos on your WordPress site.

With a video hosting service, all of that is taken care of for you as part of the package. This helps reduce your web costs and can drastically improve the loading time of your videos. To have a deeper understanding of the different hosting options, read our guide on how to host videos on your website .

What does video hosting cost?

The cost of video hosting can vary depending on the provider and plan you choose. Generally speaking, the cost will be based on factors such as the size of your content library, storage space requirements, and features included in the package. Some services may offer discounts for long-term commitments.

Are there any free video hosting services?

Yes, some providers offer free plans with limited features and storage space. Keep in mind that these are usually best suited for smaller teams and personal projects. If you’re looking for a more robust solution, you’ll likely need to upgrade to a paid plan.

How can I reduce my video hosting costs?

One way to reduce the cost of video hosting is to use a service that offers discounts for long-term commitments. You can also look for providers that offer free plans with limited features and storage space, or that offer tiered plans, so you can pay for only the features you need. Finally, be sure to shop around and compare pricing between different providers. You may find a better deal when you do your research!

Are there any hidden fees associated with video hosting?

It’s important to read the fine print before signing up for a plan. Some services may charge extra for features like streaming or advanced analytics, while others may charge based on storage space or user accounts. Be sure to check out all the details, so you know exactly what you’re signing up for.

Embrace the future of video

For businesses looking for a comprehensive and reliable video hosting platform, Jetpack VideoPress is an excellent choice. With enterprise-grade features, seamless WordPress integration, and affordable pricing options, it’s a well-rounded option that can suit any budget. Plus, there’s a sizable discount available for the first year.

Use our comparison table above to more succinctly weigh the features of each platform. You can easily compare the pros and cons of each to help determine which one is the best fit for your business.

Rob is the Marketing Lead for Jetpack. He has worked in marketing and product development for more than 15 years, primarily at Automattic, Mailchimp, and UPS. Since studying marketing at Penn State and Johns Hopkins University, he’s focused on delivering products that delight people and solve real problems.

Click to share on Tumblr (Opens in new window)
Click to share on Mastodon (Opens in new window)
Click to share on Facebook (Opens in new window)
Click to share on X (Opens in new window)
Click to share on Threads (Opens in new window)
Click to share on Bluesky (Opens in new window)
Click to share on WhatsApp (Opens in new window)
Click to share on LinkedIn (Opens in new window)
Click to email a link to a friend (Opens in new window)
Click to print (Opens in new window)
Click to share on Pinterest (Opens in new window)
Click to share on Reddit (Opens in new window)
Click to share on Pocket (Opens in new window)

Have a question?

Comments are closed for this article, but we're still here to help! Visit the support forum and we'll be happy to answer any questions.

Search for:

Get news & tips from Jetpack

Enter your email address to follow this blog and receive news and updates from Jetpack!

Email Address:

Browse by Topic

Analytics (12)
Code snippets (32)
Contribute (6)
Customer Stories (6)
Ecommerce (17)
Features (67)
Hosting (6)
Innovate (7)
Jetpack News (69)
Learn (107)
Meet Jetpack (15)
Performance (48)
Photos & Videos (12)
Promotions (2)
Releases (186)
Search Engine Optimization (12)
Security (133)
Small Business (17)
Social Media (41)
Support Stories (3)
Tips & Tricks (88)
Utilities & Maintenance (13)
Vulnerabilities (25)
Webinars (2)
Website Design (16)
WordAds (1)
WordCamp (5)

Already have a WordPress.com account? Log in now.
Subscribe Subscribed
Copy shortlink
Report this content
View post in Reader
Manage subscriptions
Collapse this bar

Video & Animation
Most Recent
Presentations
Infographics
Data Visualizations
Forms and Surveys
Case Studies
Design for Business
Digital Marketing
Design Inspiration
Visual Thinking
Product Updates
Visme Webinars
Artificial Intelligence

Video Marketing in 2024: The Ultimate Guide

Written by: Mark Ankucic

An illustration showing a megaphone popping out of an online video.

Video marketing is currently the best way to connect with your audience.

It can make your prospects’ first awareness of your brand unforgettable. It can nurture your leads into customers with one well-explained value proposition. It can even make cold calls feel personal.

But while the opportunities for video marketing are endless, you might be wondering if it’s right for you and your business – and if it is – how to get started.

We’ve compiled a huge guide to essential video marketing, taking you from understanding the definition to measuring the success of your first round of content.

Let’s get started.

What is video marketing, quick video marketing statistics, why is video marketing important, how much does video marketing cost, types of marketing videos, how to create a video marketing strategy.

You’ve seen video marketing before.

Some of it feels more “market-y” than others. For example, it might be an ad on YouTube, Instagram Reels or TikTok.

Some of it barely feels like marketing at all. For example, it might be an explainer video on how to use a SaaS tool, an educational series or even straight entertainment.

But what connects all of these kinds of video marketing is its goal:

“Turn audiences into customers.”

Here’s a pragmatic definition of video marketing:

“Video marketing is the use of moving visual imagery to persuade audiences to take a step towards purchase.”

Summed up: video is the tool; marketing is the aim.

Not sure if video marketing is worth the investment? Here are a few quick video marketing statistics to give you an idea of the current state of video marketing:

An infographic showcasing six essential video marketing statistics.

85% of businesses are using video in their marketing strategies
92% of marketers say video is important in their strategies
46% of marketers say video marketing has become much more affordable
70% of brands are creating more videos this year than previously
85% of marketers say video is effective at grabbing attention online
91% of marketers state that they’re satisfied with the ROI of their social media video marketing

Statistics like this prove that other businesses and marketing teams are seeing results from their investment in video production, and it’s likely you will as well.

Make video production easier than ever with Visme.

Choose from our fully customizable templates
Customize fonts and colors to match your brand
Access animated design elements that tell your story

Video marketing is important to different companies and brands for different reasons:

Video marketing can be humanizing.

Brands aren’t humans.

And for most of your audience or customers, your brand is just a tool, or just a website – or worse – just a bill at the end of every month.

But video marketing can bring humanity to your brand.

Where static images can feel fake (people are burnt out on stock imagery), words can seem impersonal (unless they’re a gun copywriter), and podcasts can only provide a part of what makes up communication .

Video marketing is the only medium that provides “facial dynamics” – movement of human facial features.

And facial dynamics have a high impact on how trustworthy you seem .

Here’s a great example of facial dynamics in this video from Adidas. No text or narration needed – just raw emotion and expression.

While being perceived as “human” is important for all businesses, it becomes especially important where:

You’re in a large organization
Your customers don’t have regular 1-on-1 interactions with your employees
Your product or service is expensive

So, video marketing can provide the human touch necessary to nurture trust. We see another example of this with email marketing tool Sendlane. This video podcast with their CEO and marketing manager is a perfect example of humanizing a brand.

Your audience is watching videos every single day.

YouTube has 2 billion users. Facebook gets 8 billion video views a day, with Twitter getting 2 billion.

With the advent of TikTok and the rise of short form video content (like Instagram Reels and YouTube Shorts), your audience is basically guaranteed to be watching some form of video content.

Which also means…

Your competitors are using video.

Unless you’re a unique service or product provider (in which case, congrats!), your competitors are using these video channels to target your audience.

If you’re not worried about that because you have amazing ads, or great web traffic or a huge forum…

Think about this: when your competitors are on a channel unopposed, that channel’s audience is going to have them top of mind.

So even if you’re not looking to convert through video channels, video marketing is important for visibility.

Video is a great learning tool.

Video is a great learning tool because it can provide a unique style of engagement and instruction.

As an example, let’s say you’re trying to learn a video editing software . There’s a blog with instructions, and at one point it tells you to go to a particular menu to select a key feature.

You might spend the next five minutes trying to find that menu.

Whereas a video will mirror exactly where you need to look and what you need to do to find that menu and feature.

Further, interactive videos (like webinars) give your audience a chance to question what they’re learning in real time.

And the best thing about using video as a learning tool?

It necessarily combines every other content form to create. Your script can become a blog, the audio can become a guided instruction in-product.

Here’s an example of a video tutorial we created for our presentation capabilities detailing out a step-by-step tutorial.

Video marketing can cost as much as you want. For “free,” you can use any device with a camera and video recording software, or you can spend millions on a Super Bowl Ad.

To figure out what you might need to allocate into the budget, you’ll need to consider these variables:

Level of Professionalism

Does your brand want to be seen as home-grown and a bit rough around the edges? Or do you prefer to be seen as slick and professional?

While a basic video can be as low as $1,000, a premium ad can run you up to $50,000 or more.

In-House vs. Agency

Do you have the skills and equipment to create video inside your business, like someone who can present on camera or people that can operate both the hardware and software involved?

Agency pricing depends on the level of professionalism you want to portray in your video and what kind of video you want to create.

If you go in-house, you need to purchase your own video production equipment, although this can range from using a smartphone and a video maker like Visme , or a high-quality camera and video team.

Visme’s tool starts at $29/month (billed annually) for a business plan.

Cost of Time

Can all stakeholders involved commit to the amount of time it takes to make a video, including everything from ideation, to scripting, recording, editing and circulation?

Consider if it’s worth the investment to hire a dedicated videographer onto your marketing team.

There are hundreds of types of marketing videos, so it can be challenging to know what you should be creating and why.

To make it easier to understand, here’s a breakdown.

Paid vs. Organic Videos

Paid videos are ads – content you put money behind in order to reach specific goals.

There are several reasons you’d want to use paid marketing videos:

Reach a larger audience
Target your ideal audience
Retarget website visitors
Increase brand awareness and memorability
Bring in a new source of traffic

While paid videos are better for getting in front of the right audience, their benefit ends where your budget does, so plan carefully before putting money behind them!

Organic videos are value adds – basically, giving away value (in the form of information, education or entertainment) for free.

They get distributed to your channels without pay, with your audience finding you through search (SEO), or by getting recommended in a feed (e.g., Instagram feed, TikTok feed, YouTube recommended for you).

While they have the best ROI over a long period of time, they can take months or years to accumulate a sizable audience.

Animated and Live-Action

Animated marketing videos are drawn, designed or use CGI to get their messages across.

Check out this example from Headspace:

Animated marketing video pros:

More control over your brand (you can make anything and everything suit your visual brand guidelines)
You don’t need to rely on external talent to feature in videos
Your messages can be immediately understood

Animated marketing video cons:

Harder to feel a personal connection to
Can be hard without an easy-to-learn video animation tool

Live-action marketing videos feature real-life people.

Take this example from Oribi:

Live-action marketing video pros:

Easier to establish personal connections
Makes your brand more approachable
Gives your audience faces to be familiar with

Live-action marketing video cons:

Can be a nightmare to get everyone involved
Amount of time it takes to shoot, edit and reshoot

Video Marketing Content Categories

All of video marketing content falls into these four categories:

Educational (how to do)
Inspirational (ideas for something)
Engagement (provoke reaction)
Convincing (why you should)

These categories are awareness and funnel agnostic.

For example, you can create top of funnel video content to convince your audience of “why you should be using video marketing.”

Or you could create a call-to-action free video on what happens behind the scenes at your office for your best customers.

To give you a better idea of what category (or categories) you should focus your time and attention, here are some examples of the types of marketing videos in each of them:

Educational Marketing Videos

Educational marketing videos have one goal: pass on beneficial, actionable information to your audience.

These videos can be product/service/business agnostic, or solely focus on educating your current customers to get more from you.

Whether you choose one or a mix of both, you can try these approaches:

Video Series

These types of videos are great for educating your audience while also building brand awareness and strength.

Generally, a video series will use each new video to go over the principles of a topic, be shot piece to camera (one presenter looking at the camera), and the presenter will have visual aids like a whiteboard or animations accompanying their words.

The classic example of an educational video series is Moz’s Whiteboard Fridays .

Every Friday, a Moz employee or guest presenter takes their audience through a topic of SEO.

Who would be best using this type of video marketing?

While there’s no doubt it’s powerful stuff, it has a very particular niche:

If your product has entry-level knowledge features, AND
Users will get more out of your product professionally and personally

then this is for you.

We use this same principle in our “Make Information Beautiful” YouTube series .

Because Visme has basic design tools for free, this series explains basic design theories that non-designers can follow, giving them further use, application and success with the Visme platform.

What’s great about this system is the more your audience learns, the more they get from your platform, the more they want to learn (and repeat!)

When would you use this content?

This is great at any stage of awareness and funnel.

At your top of funnel, you can introduce broad concepts in simple ways to capture those in their starting steps.

As for your super-stars and best customers, you can dive into complex and niche issues, or even invite them on to guest star as a presenter.

Tutorials/How-To’s

Some activities are challenging to learn unless they’re being supervised in real-time or you can stop and start them when you want.

This is where tutorial videos shine.

Take the example of Games Workshop (producers of the popular Warhammer miniature series) “How to Build and Paint” Series:

While the miniatures range of Games workshop numbers in the thousands, the “How to Build and Paint” series is steadily going through their entire catalogue in order to show their customers how to prepare models they can be proud of.

Where lectures or classes are based on principles , follow-alongs are based on practice .

So basically anything where your audience is trying to exactly replicate or mirror what it is you’re doing.

Other businesses it could be useful for include:

Workouts or exercise
Using online tools

You’ll find another Visme example in our “How to Use Visme” YouTube series .

These are step-by-step guides that Visme users view to see how to accomplish basic (or complex!) visual design goals.

While you could use this at any stage of the funnel, it’s best suited for those using your product or service (whether that’s in trial or current customer).

Explainer Videos

Sometimes the “why” behind your business can be confusing.

For example, you might have:

A product or service that has a lot of steps
A completely new and revolutionary business model
An audience that has never heard of your brand or solution before.

Explainer videos are business stories that clear that confusion.

Check out this example from Crazy Egg:

What makes explainer videos powerful is their story structure. Instead of skipping straight to the features and benefits, the audience follows the “why” behind everything from being pain aware (realising there’s a problem) to product aware (knowing how to solve that problem with your product).

Who benefits from using explainer videos?

There are three situations where explainer videos are invaluable:

Your business has a complex element prospects need to understand to become customers
You’re introducing something completely new and unique to the market
You need a way to highlight the exact differences between you and your close competitors

Basically, at any point your customer would ask “I don’t understand what you do,” or "I don’t understand what you do differently," you should make an explainer video.

Explainer videos are best suited for top (pain aware) to middle of funnel (solution / product aware) campaigns.

Again, you should aim for this content to arrive just before your customers start thinking “I don’t understand.” This creates a more seamless flow from prospect to customer.

You can get started by customizing an explainer video template like the one below:

Inspirational Marketing Videos

You’d turn to inspirational marketing videos if you’re in an industry where your audience needs boosts to their creativity and/or motivation.

The idea is to both save your audiences’ energy (by taking away their need to think of new things) and to give them energy (by providing renewed purpose or motivation to go on).

Here’s a few ways you can create inspirational marketing videos:

Ideas to Try

Ideas to try are the video equivalent of listicles, but shorter and punchier. Generally, they’ll cover the headlines of a topic and ask audiences to take another action, like visit a blog or comment.

Check out this Reel from Sked Social:

View this post on Instagram A post shared by Sked Social - Scheduling Tool (@getskedsocial)

6 ideas for video transitions are covered in ~35 seconds, and their followers are encouraged to comment on their favorite transitions.

This takes away the need for your audience to think of their own transitions, and gives motivation to create their own videos with transitions.

Who benefits from using ideas to try marketing videos?

If your audience needs to create anything – from hula hoop dances to spreadsheets – you should use ideas to try.

Make sure to take note of what inspiration gets the most engagement. You might find you can provide ideas that your audience is desperate to learn on a regular basis.

When would you use ideas to try?

These are perfect for reach strategies.

Because they’re generally covering basic topics that are easily consumable, you’re going to be appealing to a broader audience.

So when you’re using them, try to think one step ahead: once I’ve reached this broader audience, how can I then find my ideal audience from them?

Before and After

Empathy is to inspiration what gas is to a car.

More simply put: if your audience feels like they can do something, they’re more likely to try doing something.

Now, you might be getting strong memories of weight loss ads or late night commercials. But before and after videos don’t have to be so ham-fisted. Check out how Fullstack Academy begins this video:

Within the first 35 seconds, you hear the first steps incredibly successful developers made before becoming who they are today.

The strength of a before and after video is that it makes tasks – no matter how long, or confusing or arduous – seem achievable.

And once something’s achievable, there’s nothing stopping your audience from taking the first step.

Who would benefit from using before and after videos?

Anyone whose business requires a high cost to join.

But not just financial cost – it could be a:

Physical cost, like an exercise routine
Emotional cost, like therapy
Mental cost, like a meditation app
Time cost, like a year-long educational course

So if a prospect needs to invest themselves into your product, before and afters are right for you.

When would you use before and after?

Because before and afters follow the entire prospect to customer journey, they can be used effectively from top to middle of the funnel, pain to product aware.

Motivational Push

Like before and after videos, motivational pushes provide your audience with energy.

The key difference between them is before and afters start your audience’s journey, while motivational pushes continue their journey.

What makes good motivational pushes (as opposed to tacky single line quotes) is authenticity.

Take this example from the all-time greats of video marketing, Nike :

One minute and two seconds of an overweight child jogging. Not a sports star, not an athlete model – one regular person living up to Nike’s slogan in their own way: Just Do It.

Who would benefit from using motivational push videos?

Anyone whose audience uses a lot of energy, whether physical or mental (hence why they’re so popular in the workout and entrepreneurial spaces).

They might also be worth considering at different times in the year. For example, the start of the school year is the most challenging time for teachers, while the end of the financial year is a stressful time for accountants.

What’s important is that you’re seen as providing extra support when your audience needs it most.

Engagement Marketing Videos

Engagement is all about provoking a reaction on social media. With these videos, you want your viewers to take action, whether it’s a like, comment or share, or even a poll response or vote in a story video.

Here are a few video types that can help you meet this goal:

Question and Answer

There are three different ways to go about this.

First, you can ask questions first and answer them in a recorded video. Create a social media post or include a segment in an email newsletter about your upcoming Q&A video to give audience members the chance to submit a question.

Second, you can host a live video and answer questions that your audience comments in real time.

Third, you can use the question box on Instagram Stories to allow followers to ask questions and record your team answering each one.

Here’s an example of a live YouTube Q&A from Think Media:

Take some pointers from this video, like:

Put together a long enough intro that an audience starts to join in
Talk to replay viewers
Have talking points in case the comments die down
Keep the video on your feed or channel for more viewers to take advantage of

When would you use question and answer videos?

If you see a lot of questions being asked online in social media comments, on your blog, in response to email addresses, etc., you can compile these into a Q&A video to answer them all in one fell swoop.

Short Videos

Quick videos on Instagram Reels, TikTok or YouTube Shorts are great ways to engage your audience.

Because these are bite-sized, they’re easy for your audience to digest and interact with and can be great for creating an engaged following.

Here’s an example of what this might look like from online plant store The Sill. They’ve created a 20-second video that is both humorous and educational for plant owners.

View this post on Instagram A post shared by The Sill (@thesill)

There are so many ways to get creative with short videos like this, so start watching some TikToks and Instagram Reels to gather inspiration for your business.

When would you use short videos?

Creating short, engaging videos like these should be a consistent part of your video marketing strategy. You can repurpose clips from other videos, build out your own video ideas or jump on viral video trends.

If your marketing team does a lot of video production, you likely have a few humorous outtakes. Creating blooper reels and sharing them on social media makes your business feel more real and authentic.

You can create short, engaging blooper videos, or you can include bloopers at the end of a video, like we did in one of our Make Information Beautiful videos.

Videos of a host who typically seems very polished stumbling over their words humanizes them and makes your team and your brand a lot more relatable. This makes people want to engage more with your content because they feel a genuine connection.

When would you use bloopers?

If you have bloopers, why not try creating a blooper reel? You don’t want to create these just for the sake of it. Your bloopers should not feel forced or the video won’t have the effect you’re going for.

Simply take a look back at past video footage and compile a short video of a few funny mishaps to get your audience laughing – and clicking that like or share button.

Convincing Marketing Videos

With this type of marketing video, you want to convince your audience to take action by providing them with reasons to start thinking about something or to change their thinking on something.

These are bottom of the funnel videos that are ideal for using as a call-to-action for your business, whether it’s buying a product or signing up for a service.

We’ve got three different types of videos that are perfect for this stage of the funnel.

Product Videos

A product video can go a number of ways – showcasing a new product launch, giving a product demo, teasing upcoming product updates, etc.

Essentially, your goal is to show off what your business offers and make your audience believe that they need your product or service in their life.

Take a look at this example from Kelty, an outdoor and camping retailer.

They’ve created a quick, one-minute video that shows how easy their product is, different ways it can be used as well as appeals to their target audience.

When should you use product videos?

Product videos should always be a part of your video marketing strategy. While these are best used as ads in brand awareness and retargeting campaigns, sharing them sporadically as an organic tactic is also a good idea.

Testimonial Videos

A testimonial video is often a key part of a case study and used to help people who are just on the fence about making a purchase to really bite the bullet and take action.

Create a video slide and add your customer testimonial as an overview, or create a full-fledged video like we see here in Zoom’s example.

Both options have the power of persuasion in generating new customers.

When should you use testimonial videos?

Testimonial videos are perfect for sharing case studies. Include a page on your website for case studies in the form of PDF downloads, web pages or blog posts, videos and more.

You can also create a testimonial playlist on your YouTube channel and use these videos as online ads. Provide your sales team with video testimonials to share with leads and close sales.

Promo Videos

Promo videos tend to be used more during specific marketing campaigns and are short one to two-minute videos focused on promoting your business offerings.

Here’s an example of a promotional video created by Slack, focusing on their USP of making communication easier.

Your promo videos should have a single focus – whether that’s your USP, a particular product line or service, a new launch or something else.

You don’t want to cram too much into one promo ad for one campaign or you’ll overwhelm your audience. Keep these concise and focused on conversions.

When should you use promo videos?

Promotional videos should be a major part of any marketing campaign you create. Embed these on landing pages on your website. Share them on social media. Create online ads. Use your video as the basis for social media content .

Your video marketing strategy is the most important part of your video marketing efforts.

It gives you a:

Roadmap of where you’re going
Tactics you need to get there
Ways to measure your success

A video marketing strategy will also stop you from wasting time and budget creating content that doesn’t provide value, for you or your audience.

To start creating your video marketing strategy, you need to pinpoint your goals – here’s how:

Pinpoint Goals

Your video marketing goals should complement both your overall marketing goals and your content goals.

For example:

Marketing strategy: Build brand awareness in [region]
Content marketing strategy : Create content that explains who we are that’s designed to get reach
Video marketing strategy: Create explainer and before and after videos targeting [region] audiences on platforms (x), (y) and (z)

When creating these goals, think hard about what video can offer that other mediums (like copy or podcasts) can’t, and also where they struggle in comparison (e.g. time and effort to create).

Once you’re confident you know what you need and can achieve with video, you can start thinking about your audience.

Define Your Audience

You can’t go after everyone, so it’s important to define exactly who you want to get in front of.

To do this, you need to work out who your ideal audience is.

Your ideal audience is “people who would specifically and demonstrably benefit from using my product or service.”

Creating video marketing content on the upkeep of sports cars.

New family ❌ not ideal audience
Sports car collectors ✅ ideal audience

To help you pinpoint your target customer, you can use a template like the one below.

A user persona worksheet available to customize in Visme.

Once you’ve got your ideal audience in mind, you can start to segment them by using:

Personas , and
Jobs to be Done (JTBD)

Personas are a cumulative representation of a segment of your customers, and list out basic information like age, gender, occupation and income.

Because the information they provide is basic, personas aren’t good for figuring out what kind of content to make.

But personas are excellent for figuring out tone, voice and channels for publication.

For example, a persona that’s a 16-year old girl is most likely to be on TikTok and be up-to-date with the latest trends and slang.

Alternatively, a persona that’s a 50-year old male is more likely to be on Facebook and use more plain-spoken language.

Jobs to be Done is a holistic view of the problem your customer faces and where your product or service solves that problem.

For example, if you’re a freelance graphic designer, your customer might be a marketing manager.

One of the JTBD of a marketing manager is to ensure all collateral is brand-aligned.

In this case, you might create a video to show them how to create visual marketing brand guidelines .

Once you know who you’re targeting, it’s time to think about who you’ll need to make the strategy work.

Consider Stakeholders and Assign Responsibility

Unlike articles or podcasts which can normally be taken care of end-to-end by a single individual, videos will usually require input from multiple stakeholders.

For example, if you decide you want live-action videos, you’ll need to lock in your talents’ time, consider their working situation (are they in-office or remote?), and level of presenting ability.

Alternatively, if you’re creating animated videos, you’ll need an animator or an animation video software that makes it simple to create animated software.

You should approach all of your stakeholders at this point before continuing with your strategy, as their buy-in can make or break your efforts.

Once they’ve agreed to take on responsibility for video creation, you can think about what kinds of videos you’ll create.

Using a roadmap like this template below is a great way to assign tasks and stakeholders.

A roadmap template available to customize in Visme.

Determine the Video Types You’ll Create

You’ll need to refer back to your overall marketing and content goals, as well as your persona and JTBD audience definitions.

Knowing what you are trying to achieve and who you are presenting to should give you a strong indication of the types of videos you should be creating.

You’ll need to consider things like:

What channels are my videos likely to go out through? (e.g. YouTube, TikTok, Instagram, Snapchat)
How long should my marketing videos be?
Where in the funnel or stage of awareness will they have the most impact?

When you know what types of videos you’ll be creating, you’ll know what hardware and software you’ll need.

Audit Inventory and Purchase Equipment

Depending on the video types you’re creating, you may need:

A better camera
Microphones
Soundproofing
A dedicated space/room
Editing software

Remember, you can always upgrade if and when you need it, so don’t be afraid to start on a shoestring.

Once you’ve got your video equipment , you’re ready to create your video pillars.

Create Video Pillars

Content pillars are your internal content categories.

They’re basically a way to ensure that every single piece of video content you create has a purpose and complements the other videos you create.

For example, if your audience are social media managers, your pillars might be Facebook, Instagram, Twitter and LinkedIn.

Or let’s say your audience was marketing leaders, it might be strategy, people management and industry trends.

You should focus just as hard on excluding things that are irrelevant as you are including things that are relevant .

Once you’ve got your pillars, you’re ready to start planning video creation.

Plan Your Videos

You might be working on an already established marketing or content calendar, or you might need to create a brand new one.

Either way, it’s important to plan your video creation. Depending on the video length , complexity or talent needed, you could need more time than you bargained for.

During this phase of your video marketing strategy, it’s a good idea to create a storyboard for your video idea to make sure it makes sense.

If you’re not sure where to start with your video plan, a basic storyboard template like the one below can help.

A storyboard template available to customize in Visme.

Create Your Videos

Once you’ve got your plan, you’re ready to start creating. There are two best practices for creating video to keep in mind:

Create in Stages

Don’t burn yourself out shooting, editing and publishing all on one day! Focus your attention on one task per session.

Create in Bulk

By getting the most out of your talent while you have them, or editing weeks worth of footage, will give you a backlog of content to work with while you plan ahead. It takes the same amount of effort while saving time.

After that, you’re ready to push out your videos.

Plan Your Video Distribution

You may have heard of COPE (create once, publish everywhere).

While it’s good advice, it’s even better to COED (create once, edit, distribute).

For example, the 15-minute video you made for YouTube isn’t going to sit so well on TikTok.

When you’re editing, consider where your video content is going to live. Then create separate videos from the same content that match what your audience expects on different channels.

You should consider using a social media scheduling tool so you can organize the entire timing of your distribution from one place.

Measure Your Videos

There are two views when measuring your videos:

Micro (or content level): this includes things like “at what point do people drop off while watching” or “what CTA is working best?”
Macro (or high level): this includes things like “do the numbers indicate we’re getting closer to our goals” or “how many leads were generated over the last quarter from video content?”

You should be micro measuring all your video content, and macro measuring every month or quarter.

That way, your creation tactics and strategy goals are always up to date.

Create Your Own Video Marketing Strategy

Video marketing is becoming the new norm of content marketing. Not only is it a great way to get your brand out there, it’s an important part of every stage of your sales funnel.

Having a successful video marketing strategy is important, and so is finding the perfect video creation tool to help you implement it.

Create beautiful videos and interactive content with Visme

Trusted by leading brands

Create Stunning Content!

Design visual brand experiences for your business whether you are a seasoned designer or a total novice.

About the Author

Mark Ankucic is a growth marketer and content consultant at CopyPlaybooks.com. Obsessed with finding the words and feelings that trigger conversions, you’ll most likely find him sorting voice of customer data, tweaking funnel journeys, and plugging gaps in messaging.

Go from idea to done with Dropbox

Store and share files. Sign and send documents. Record screens and comment. All with Dropbox.

For professionals

For large organizations.

3 TB of storage
Transfer files up to 100 GB
180 days to restore deleted files
Track file engagement
Unlimited signature requests
PDF editing
Record, review, and edit video
Starts at 9 TB for the team
Set up admins
Know what content is shared

For companies

Starts at 15 TB for the team
Transfer files up to 250 GB
1 year to restore deleted files
Set up tiered admin roles
Suspicious activity alerts
Compliance tracking
Customize number of users
Customize storage
Transfer files up to 250 GB
Enterprise-grade security
Integrations with best-in-class security solutions
Live support from dedicated experts

Compare plans

A table comparing the different Dropbox plans

Try Google Workspace for 14 days. And take Gemini for a test drive while you’re at it.

Every plan includes.

Featured add-on

Gemini for Workspace now available

Custom and secure business email
100 participant video meetings
30 GB pooled storage per user*
Security and management controls
Standard Support
150 participant video meetings + recording
2 TB pooled storage per user*
Standard Support (paid upgrade to Enhanced Support)
Custom and secure business email + eDiscovery, retention
500 participant video meetings + recording, attendance tracking
5 TB pooled storage per user*
Enhanced security and management controls, including Vault and advanced endpoint management
Custom and secure business email + eDiscovery, retention, S/MIME encryption
1000 participant video meetings + recording, attendance tracking, noise cancellation, in-domain live streaming
5 TB pooled storage per user, with ability to request more*
Advanced security, management, and compliance controls, including Vault, DLP, data regions, and enterprise endpoint management
Enhanced Support (paid upgrade to Premium support)

Business Starter, Business Standard, and Business Plus plans can be purchased for a maximum of 300 users. There is no minimum or maximum user limit for Enterprise plans.

Google Workspace customers may have access to additional features for a limited promotional period.

Google Workspace provides flexible pooled storage per user that is shared across the organization. Visit our Help Center to learn more about getting additional storage for your organization.

Start a trial

Business Starter

Start a trial

Business Standard

Start a trial

Business Plus

Start a trial

Enterprise

Contact sales

Productivity & Collaboration

Business email	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU

Video and voice conferencing

	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is not supported by this SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is not supported by this SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU

Secure cloud storage
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU

Team messaging	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU

Shared calendars	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is not supported by this SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU

Collaborative content creation	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU

Build apps without code

This feature is available for the SKU

Security & Management

This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU
This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU	This feature is available for the SKU

Try Google Workspace for free

See why millions of businesses love and rely on Google Workspace for their business needs.

Applications

Please enter a valid email address

Afghanistan
American Samoa
Antigua and Barbuda
Bosnia and Herzegovina
Bouvet Island
British Indian Ocean Territory
British Virgin Islands
Burkina Faso
Cayman Islands
Central African Republic
Christmas Island
Cocos [Keeling] Islands
Congo [DRC]
Congo [Republic]
Cook Islands
Côte d'Ivoire
Czech Republic
Dominican Republic
El Salvador
Equatorial Guinea
Falkland Islands [Islas Malvinas]
Faroe Islands
French Guiana
French Polynesia
French Southern Territories
Guinea-Bissau
Heard Island and McDonald Islands
Liechtenstein
Macedonia [FYROM]
Marshall Islands
Netherlands
Netherlands Antilles
New Caledonia
New Zealand
Norfolk Island
Northern Mariana Islands
Papua New Guinea
Philippines
Pitcairn Islands
Puerto Rico
Saint Helena
Saint Kitts and Nevis
Saint Lucia
Saint Pierre and Miquelon
Saint Vincent and the Grenadines
São Tomé and Príncipe
Saudi Arabia
Sierra Leone
Solomon Islands
South Africa
South Georgia and the South Sandwich Islands
South Korea
Svalbard and Jan Mayen
Switzerland
Timor-Leste
Trinidad and Tobago
Turkmenistan
Turks and Caicos Islands
U.S. Outlying Islands
U.S. Virgin Islands
United Arab Emirates
United Kingdom
United States
Vatican City
Wallis and Futuna
Western Sahara
Follow our Blog
Apps Script
Work Insights
New Business
Small Business
Manufacturing
Professional Services
Artificial Intelligence
Compare pricing plans
Gemini for Workspace
Meet hardware
Google Voice
Working remotely
Customer Stories
Marketplace
Integrations
Training & Certification
Refer Google Workspace
Setup and Deployment Center
Learning Center for Users
Forums for Admins
Google Workspace Dashboard
What's New in Google Workspace
Find a Google Workspace Partner
Join the community of IT Admins

How Much Does a Business Plan Cost?

A complete business plan helps you to identify your business goals and how you plan on reaching them. Whether you are a new business owner or an experienced entrepreneur, writing a comprehensive business plan can help you start, grow, and/or attract investors to fund your business.

How Much Does It Cost to Write a Business Plan ?

Business plan pricing depends on what route you take to create it. However, there are a few essential elements that are common to all business plans:

Executive Summary
Business Description
Market Analysis
Customer Analysis
Competitive Analysis
Marketing Strategy
Operations Plan
Management Team
Financial Plan

There are several ways to approach writing a successful business plan, but the cost of each way varies widely. The cost of a business plan can be a significant investment, but it’s an essential tool for any business. Below we provide some tips for what to consider and the costs for the various methods of completing your own business plan.

Considerations When Writing Your Own Business Plans

There are several things to consider when writing your own plan. Depending on whether you’re in need of funding and how much, the costs for your business plan will be different.

Take into account:

How long will your business plan be?
How many hours does it take to complete the business plan?
What kind of language is used in the business plan?
Who will use the business plan?
Who will fund your business?
How much are you looking to raise or if you need funding at all?

According to our business consultants’ surveys of investor requirements, a 15- to 25-page business plan is the ideal length. Adding more pages may cause your time-constrained investor to skim portions of the plan, even if they are interested, which might result in important information being overlooked. However, fewer pages may lead potential investors to believe that the firm has not been thoroughly thought out or simply doesn’t have enough information for them to make an investment decision.

Business Plan Template Costs

There are a variety of business plan templates online that you can purchase for a one-time fee. These templates range in price but usually start at around $100. Remember, a bargain business plan template may not include all the information that you need, so it’s important to understand what is included with the template you purchase.

Many of these templates also come with instructions to help you fill in the template and make changes as needed. However, if there is something you want to be changed on the template, it may take time and money to have it done.

Be sure to do your research and find the right template for your business. The wrong template could set you back even further and change the face of your business entirely. If you purchase a professional business plan template, make sure it’s from a reputable business plan company with business plan writing skills in a variety of industries.

The business plan template should be easily editable and customized for your specific business needs and industry trends.

If you do not want to pay for a template, there are companies that will charge by the page and some that offer free resources . However, these templates may not have been professional business plans written for your exact type of business.

Experienced Consultants & Business Plan Writers Cost

Hiring a business plan writer or professional writing service will help you get a comprehensive business plan written just for your business. A professional business plan consultant will help you identify your goals and how your company will reach these goals. A business plan consultant fee usually costs more but can be worth it if you do not have the time or resources to complete the business plan yourself.

A business plan writer can be found through online directories, but be sure to do your research prior to engaging in business with them. Be sure to ask for references and read reviews before hiring a business plan writing service.

If you choose to hire a business plan consultant, the complexity and length of the plan will determine how much is a business plan. Generally, a consulting firm or private consultants charge between $1,000 and $5,000 to have a comprehensive business plan written . However, a lengthy and complex plan can easily start at a few thousand dollars and stretch into the tens of thousands of dollars based on the needs of the business.

Some experienced business plan writing services also offer package deals that include additional services, such as market research, a marketing plan, and realistic financial projections.

Business Plan Software Costs

There are business plan software applications that can be used for free or have a monthly subscription cost, which may work better for your needs depending on what you need in a business plan. These apps provide templates and make writing a business plan and business planning easier. They help organize the information you enter into the app and will sometimes offer advice on how to do things like financial projections for your business plan .

The information that you put into the application can be used for several different types of business plan needs. These apps are great for startups and small businesses looking to raise capital or secure funding.

Each app or software varies in what it offers. Some are more customizable than others, some have more options for presenting your business plan, and some even offer investment opportunities. With just your business idea, the business planning software can help you write your own business plan quickly and easily.

Write Your Own Business Plan from Scratch

If you do not want to purchase a template or use software, the easiest and most cost-effective way is to write a business plan from scratch. This route takes time and effort to complete but can be done by anyone willing to put in the work.

When writing your business plan documents, remember that they should be as detailed as possible. This document is your guide to starting and running your business. The more complete it is, the better off you’ll be.

There are a variety of free resources available online to help you write a business plan, including articles, templates, and even video courses.

When writing a business plan from scratch, it’s important to consider all of your business aspects. This includes your business concept or business model , management, production, market research , sales strategies , customer service, operations, human resources, financial projections , and more.

Try to be as thorough as possible when writing the plan. While the task may seem daunting at first, you’ll find that putting together a business plan is not so bad once you get started. After all, if you can dream it, you can write it.

The cost of writing a b usiness plan is dependent on the purpose, type, and length of the business plan. The amount of time it takes to complete a business plan , the language used, and who will be using the document also play a factor in the cost. You can find templates for a one-time fee or pay by the page, hire a business plan writing service or a business plan writer , contact a consulting firm , or use software/apps to create your business plan. Whichever option you choose, make sure you do your research, conduct an in-depth business plan review, and find the best resource to meet the goals for your business.

Business Planning
Venture Funding

Sources of Business Finance
Small Business Loans
Small Business Grants
Crowdfunding Sites
How to Get a Business Loan
Small Business Insurance Providers
Best Factoring Companies
Types of Bank Accounts
Best Banks for Small Business
Best Business Bank Accounts
Open a Business Bank Account
Bank Accounts for Small Businesses
Free Business Checking Accounts
Best Business Credit Cards
Get a Business Credit Card
Business Credit Cards for Bad Credit
Build Business Credit Fast
Business Loan Eligibility Criteria
Small-Business Bookkeeping Basics
How to Set Financial Goals
Business Loan Calculators
How to Calculate ROI
Calculate Net Income
Calculate Working Capital
Calculate Operating Income
Calculate Net Present Value (NPV)
Calculate Payroll Tax

How to Write a Business Plan in 9 Steps (+ Template and Examples)

Every successful business has one thing in common, a good and well-executed business plan. A business plan is more than a document, it is a complete guide that outlines the goals your business wants to achieve, including its financial goals . It helps you analyze results, make strategic decisions, show your business operations and growth.

If you want to start a business or already have one and need to pitch it to investors for funding, writing a good business plan improves your chances of attracting financiers. As a startup, if you want to secure loans from financial institutions, part of the requirements involve submitting your business plan.

Writing a business plan does not have to be a complicated or time-consuming process. In this article, you will learn the step-by-step process for writing a successful business plan.

You will also learn what you need a business plan for, tips and strategies for writing a convincing business plan, business plan examples and templates that will save you tons of time, and the alternatives to the traditional business plan.

Let’s get started.

What Do You Need A Business Plan For?

Businesses create business plans for different purposes such as to secure funds, monitor business growth, measure your marketing strategies, and measure your business success.

1. Secure Funds

One of the primary reasons for writing a business plan is to secure funds, either from financial institutions/agencies or investors.

For you to effectively acquire funds, your business plan must contain the key elements of your business plan . For example, your business plan should include your growth plans, goals you want to achieve, and milestones you have recorded.

A business plan can also attract new business partners that are willing to contribute financially and intellectually. If you are writing a business plan to a bank, your project must show your traction , that is, the proof that you can pay back any loan borrowed.

Also, if you are writing to an investor, your plan must contain evidence that you can effectively utilize the funds you want them to invest in your business. Here, you are using your business plan to persuade a group or an individual that your business is a source of a good investment.

2. Monitor Business Growth

A business plan can help you track cash flows in your business. It steers your business to greater heights. A business plan capable of tracking business growth should contain:

The business goals
Methods to achieve the goals
Time-frame for attaining those goals

A good business plan should guide you through every step in achieving your goals. It can also track the allocation of assets to every aspect of the business. You can tell when you are spending more than you should on a project.

You can compare a business plan to a written GPS. It helps you manage your business and hints at the right time to expand your business.

3. Measure Business Success

A business plan can help you measure your business success rate. Some small-scale businesses are thriving better than more prominent companies because of their track record of success.

Right from the onset of your business operation, set goals and work towards them. Write a plan to guide you through your procedures. Use your plan to measure how much you have achieved and how much is left to attain.

You can also weigh your success by monitoring the position of your brand relative to competitors. On the other hand, a business plan can also show you why you have not achieved a goal. It can tell if you have elapsed the time frame you set to attain a goal.

4. Document Your Marketing Strategies

You can use a business plan to document your marketing plans. Every business should have an effective marketing plan.

Competition mandates every business owner to go the extraordinary mile to remain relevant in the market. Your business plan should contain your marketing strategies that work. You can measure the success rate of your marketing plans.

In your business plan, your marketing strategy must answer the questions:

How do you want to reach your target audience?
How do you plan to retain your customers?
What is/are your pricing plans?
What is your budget for marketing?

How to Write a Business Plan Step-by-Step

1. create your executive summary.

The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans . Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.

Generally, there are nine sections in a business plan, the executive summary should condense essential ideas from the other eight sections.

A good executive summary should do the following:

A Snapshot of Growth Potential. Briefly inform the reader about your company and why it will be successful)
Contain your Mission Statement which explains what the main objective or focus of your business is.
Product Description and Differentiation. Brief description of your products or services and why it is different from other solutions in the market.
The Team. Basic information about your company’s leadership team and employees
Business Concept. A solid description of what your business does.
Target Market. The customers you plan to sell to.
Marketing Strategy. Your plans on reaching and selling to your customers
Current Financial State. Brief information about what revenue your business currently generates.
Projected Financial State. Brief information about what you foresee your business revenue to be in the future.

The executive summary is the make-or-break section of your business plan. If your summary cannot in less than two pages cannot clearly describe how your business will solve a particular problem of your target audience and make a profit, your business plan is set on a faulty foundation.

Avoid using the executive summary to hype your business, instead, focus on helping the reader understand the what and how of your plan.

View the executive summary as an opportunity to introduce your vision for your company. You know your executive summary is powerful when it can answer these key questions:

Who is your target audience?
What sector or industry are you in?
What are your products and services?
What is the future of your industry?
Is your company scaleable?
Who are the owners and leaders of your company? What are their backgrounds and experience levels?
What is the motivation for starting your company?
What are the next steps?

Writing the executive summary last although it is the most important section of your business plan is an excellent idea. The reason why is because it is a high-level overview of your business plan. It is the section that determines whether potential investors and lenders will read further or not.

The executive summary can be a stand-alone document that covers everything in your business plan. It is not uncommon for investors to request only the executive summary when evaluating your business. If the information in the executive summary impresses them, they will ask for the complete business plan.

If you are writing your business plan for your planning purposes, you do not need to write the executive summary.

2. Add Your Company Overview

The company overview or description is the next section in your business plan after the executive summary. It describes what your business does.

Adding your company overview can be tricky especially when your business is still in the planning stages. Existing businesses can easily summarize their current operations but may encounter difficulties trying to explain what they plan to become.

Your company overview should contain the following:

What products and services you will provide
Geographical markets and locations your company have a presence
What you need to run your business
Who your target audience or customers are
Who will service your customers
Your company’s purpose, mission, and vision
Information about your company’s founders
Who the founders are
Notable achievements of your company so far

When creating a company overview, you have to focus on three basics: identifying your industry, identifying your customer, and explaining the problem you solve.

If you are stuck when creating your company overview, try to answer some of these questions that pertain to you.

Who are you targeting? (The answer is not everyone)
What pain point does your product or service solve for your customers that they will be willing to spend money on resolving?
How does your product or service overcome that pain point?
Where is the location of your business?
What products, equipment, and services do you need to run your business?
How is your company’s product or service different from your competition in the eyes of your customers?
How many employees do you need and what skills do you require them to have?

After answering some or all of these questions, you will get more than enough information you need to write your company overview or description section. When writing this section, describe what your company does for your customers.

The company description or overview section contains three elements: mission statement, history, and objectives.

Mission Statement

The mission statement refers to the reason why your business or company is existing. It goes beyond what you do or sell, it is about the ‘why’. A good mission statement should be emotional and inspirational.

Your mission statement should follow the KISS rule (Keep It Simple, Stupid). For example, Shopify’s mission statement is “Make commerce better for everyone.”

When describing your company’s history, make it simple and avoid the temptation of tying it to a defensive narrative. Write it in the manner you would a profile. Your company’s history should include the following information:

Founding Date
Major Milestones
Location(s)
Flagship Products or Services
Number of Employees
Executive Leadership Roles

When you fill in this information, you use it to write one or two paragraphs about your company’s history.

Business Objectives

Your business objective must be SMART (specific, measurable, achievable, realistic, and time-bound.) Failure to clearly identify your business objectives does not inspire confidence and makes it hard for your team members to work towards a common purpose.

3. Perform Market and Competitive Analyses to Proof a Big Enough Business Opportunity

The third step in writing a business plan is the market and competitive analysis section. Every business, no matter the size, needs to perform comprehensive market and competitive analyses before it enters into a market.

Performing market and competitive analyses are critical for the success of your business. It helps you avoid entering the right market with the wrong product, or vice versa. Anyone reading your business plans, especially financiers and financial institutions will want to see proof that there is a big enough business opportunity you are targeting.

This section is where you describe the market and industry you want to operate in and show the big opportunities in the market that your business can leverage to make a profit. If you noticed any unique trends when doing your research, show them in this section.

Market analysis alone is not enough, you have to add competitive analysis to strengthen this section. There are already businesses in the industry or market, how do you plan to take a share of the market from them?

You have to clearly illustrate the competitive landscape in your business plan. Are there areas your competitors are doing well? Are there areas where they are not doing so well? Show it.

Make it clear in this section why you are moving into the industry and what weaknesses are present there that you plan to explain. How are your competitors going to react to your market entry? How do you plan to get customers? Do you plan on taking your competitors' competitors, tap into other sources for customers, or both?

Illustrate the competitive landscape as well. What are your competitors doing well and not so well?

Answering these questions and thoughts will aid your market and competitive analysis of the opportunities in your space. Depending on how sophisticated your industry is, or the expectations of your financiers, you may need to carry out a more comprehensive market and competitive analysis to prove that big business opportunity.

Instead of looking at the market and competitive analyses as one entity, separating them will make the research even more comprehensive.

Market Analysis

Market analysis, boarding speaking, refers to research a business carried out on its industry, market, and competitors. It helps businesses gain a good understanding of their target market and the outlook of their industry. Before starting a company, it is vital to carry out market research to find out if the market is viable.

The market analysis section is a key part of the business plan. It is the section where you identify who your best clients or customers are. You cannot omit this section, without it your business plan is incomplete.

A good market analysis will tell your readers how you fit into the existing market and what makes you stand out. This section requires in-depth research, it will probably be the most time-consuming part of the business plan to write.

Market Research

To create a compelling market analysis that will win over investors and financial institutions, you have to carry out thorough market research . Your market research should be targeted at your primary target market for your products or services. Here is what you want to find out about your target market.

Your target market’s needs or pain points
The existing solutions for their pain points
Geographic Location
Demographics

The purpose of carrying out a marketing analysis is to get all the information you need to show that you have a solid and thorough understanding of your target audience.

Only after you have fully understood the people you plan to sell your products or services to, can you evaluate correctly if your target market will be interested in your products or services.

You can easily convince interested parties to invest in your business if you can show them you thoroughly understand the market and show them that there is a market for your products or services.

How to Quantify Your Target Market

One of the goals of your marketing research is to understand who your ideal customers are and their purchasing power. To quantify your target market, you have to determine the following:

Your Potential Customers: They are the people you plan to target. For example, if you sell accounting software for small businesses , then anyone who runs an enterprise or large business is unlikely to be your customers. Also, individuals who do not have a business will most likely not be interested in your product.
Total Households: If you are selling household products such as heating and air conditioning systems, determining the number of total households is more important than finding out the total population in the area you want to sell to. The logic is simple, people buy the product but it is the household that uses it.
Median Income: You need to know the median income of your target market. If you target a market that cannot afford to buy your products and services, your business will not last long.
Income by Demographics: If your potential customers belong to a certain age group or gender, determining income levels by demographics is necessary. For example, if you sell men's clothes, your target audience is men.

What Does a Good Market Analysis Entail?

Your business does not exist on its own, it can only flourish within an industry and alongside competitors. Market analysis takes into consideration your industry, target market, and competitors. Understanding these three entities will drastically improve your company’s chances of success.

You can view your market analysis as an examination of the market you want to break into and an education on the emerging trends and themes in that market. Good market analyses include the following:

Industry Description. You find out about the history of your industry, the current and future market size, and who the largest players/companies are in your industry.
Overview of Target Market. You research your target market and its characteristics. Who are you targeting? Note, it cannot be everyone, it has to be a specific group. You also have to find out all information possible about your customers that can help you understand how and why they make buying decisions.
Size of Target Market: You need to know the size of your target market, how frequently they buy, and the expected quantity they buy so you do not risk overproducing and having lots of bad inventory. Researching the size of your target market will help you determine if it is big enough for sustained business or not.
Growth Potential: Before picking a target market, you want to be sure there are lots of potential for future growth. You want to avoid going for an industry that is declining slowly or rapidly with almost zero growth potential.
Market Share Potential: Does your business stand a good chance of taking a good share of the market?
Market Pricing and Promotional Strategies: Your market analysis should give you an idea of the price point you can expect to charge for your products and services. Researching your target market will also give you ideas of pricing strategies you can implement to break into the market or to enjoy maximum profits.
Potential Barriers to Entry: One of the biggest benefits of conducting market analysis is that it shows you every potential barrier to entry your business will likely encounter. It is a good idea to discuss potential barriers to entry such as changing technology. It informs readers of your business plan that you understand the market.
Research on Competitors: You need to know the strengths and weaknesses of your competitors and how you can exploit them for the benefit of your business. Find patterns and trends among your competitors that make them successful, discover what works and what doesn’t, and see what you can do better.

The market analysis section is not just for talking about your target market, industry, and competitors. You also have to explain how your company can fill the hole you have identified in the market.

Here are some questions you can answer that can help you position your product or service in a positive light to your readers.

Is your product or service of superior quality?
What additional features do you offer that your competitors do not offer?
Are you targeting a ‘new’ market?

Basically, your market analysis should include an analysis of what already exists in the market and an explanation of how your company fits into the market.

Competitive Analysis

In the competitive analysis section, y ou have to understand who your direct and indirect competitions are, and how successful they are in the marketplace. It is the section where you assess the strengths and weaknesses of your competitors, the advantage(s) they possess in the market and show the unique features or qualities that make you different from your competitors.

Four Steps to Create a Competitive Marketing Analysis

Many businesses do market analysis and competitive analysis together. However, to fully understand what the competitive analysis entails, it is essential to separate it from the market analysis.

Competitive analysis for your business can also include analysis on how to overcome barriers to entry in your target market.

The primary goal of conducting a competitive analysis is to distinguish your business from your competitors. A strong competitive analysis is essential if you want to convince potential funding sources to invest in your business. You have to show potential investors and lenders that your business has what it takes to compete in the marketplace successfully.

Competitive analysis will s how you what the strengths of your competition are and what they are doing to maintain that advantage.

When doing your competitive research, you first have to identify your competitor and then get all the information you can about them. The idea of spending time to identify your competitor and learn everything about them may seem daunting but it is well worth it.

Find answers to the following questions after you have identified who your competitors are.

What are your successful competitors doing?
Why is what they are doing working?
Can your business do it better?
What are the weaknesses of your successful competitors?
What are they not doing well?
Can your business turn its weaknesses into strengths?
How good is your competitors’ customer service?
Where do your competitors invest in advertising?
What sales and pricing strategies are they using?
What marketing strategies are they using?
What kind of press coverage do they get?
What are their customers saying about your competitors (both the positive and negative)?

If your competitors have a website, it is a good idea to visit their websites for more competitors’ research. Check their “About Us” page for more information.

If you are presenting your business plan to investors, you need to clearly distinguish yourself from your competitors. Investors can easily tell when you have not properly researched your competitors.

Take time to think about what unique qualities or features set you apart from your competitors. If you do not have any direct competition offering your product to the market, it does not mean you leave out the competitor analysis section blank. Instead research on other companies that are providing a similar product, or whose product is solving the problem your product solves.

The next step is to create a table listing the top competitors you want to include in your business plan. Ensure you list your business as the last and on the right. What you just created is known as the competitor analysis table.

Direct vs Indirect Competition

You cannot know if your product or service will be a fit for your target market if you have not understood your business and the competitive landscape.

There is no market you want to target where you will not encounter competition, even if your product is innovative. Including competitive analysis in your business plan is essential.

If you are entering an established market, you need to explain how you plan to differentiate your products from the available options in the market. Also, include a list of few companies that you view as your direct competitors The competition you face in an established market is your direct competition.

In situations where you are entering a market with no direct competition, it does not mean there is no competition there. Consider your indirect competition that offers substitutes for the products or services you offer.

For example, if you sell an innovative SaaS product, let us say a project management software , a company offering time management software is your indirect competition.

There is an easy way to find out who your indirect competitors are in the absence of no direct competitors. You simply have to research how your potential customers are solving the problems that your product or service seeks to solve. That is your direct competition.

Factors that Differentiate Your Business from the Competition

There are three main factors that any business can use to differentiate itself from its competition. They are cost leadership, product differentiation, and market segmentation.

1. Cost Leadership

A strategy you can impose to maximize your profits and gain an edge over your competitors. It involves offering lower prices than what the majority of your competitors are offering.

A common practice among businesses looking to enter into a market where there are dominant players is to use free trials or pricing to attract as many customers as possible to their offer.

2. Product Differentiation

Your product or service should have a unique selling proposition (USP) that your competitors do not have or do not stress in their marketing.

Part of the marketing strategy should involve making your products unique and different from your competitors. It does not have to be different from your competitors, it can be the addition to a feature or benefit that your competitors do not currently have.

3. Market Segmentation

As a new business seeking to break into an industry, you will gain more success from focusing on a specific niche or target market, and not the whole industry.

If your competitors are focused on a general need or target market, you can differentiate yourself from them by having a small and hyper-targeted audience. For example, if your competitors are selling men’s clothes in their online stores , you can sell hoodies for men.

4. Define Your Business and Management Structure

The next step in your business plan is your business and management structure. It is the section where you describe the legal structure of your business and the team running it.

Your business is only as good as the management team that runs it, while the management team can only strive when there is a proper business and management structure in place.

If your company is a sole proprietor or a limited liability company (LLC), a general or limited partnership, or a C or an S corporation, state it clearly in this section.

Use an organizational chart to show the management structure in your business. Clearly show who is in charge of what area in your company. It is where you show how each key manager or team leader’s unique experience can contribute immensely to the success of your company. You can also opt to add the resumes and CVs of the key players in your company.

The business and management structure section should show who the owner is, and other owners of the businesses (if the business has other owners). For businesses or companies with multiple owners, include the percent ownership of the various owners and clearly show the extent of each others’ involvement in the company.

Investors want to know who is behind the company and the team running it to determine if it has the right management to achieve its set goals.

Management Team

The management team section is where you show that you have the right team in place to successfully execute the business operations and ideas. Take time to create the management structure for your business. Think about all the important roles and responsibilities that you need managers for to grow your business.

Include brief bios of each key team member and ensure you highlight only the relevant information that is needed. If your team members have background industry experience or have held top positions for other companies and achieved success while filling that role, highlight it in this section.

Create Management Team For Business Plan

A common mistake that many startups make is assigning C-level titles such as (CMO and CEO) to everyone on their team. It is unrealistic for a small business to have those titles. While it may look good on paper for the ego of your team members, it can prevent investors from investing in your business.

Instead of building an unrealistic management structure that does not fit your business reality, it is best to allow business titles to grow as the business grows. Starting everyone at the top leaves no room for future change or growth, which is bad for productivity.

Your management team does not have to be complete before you start writing your business plan. You can have a complete business plan even when there are managerial positions that are empty and need filling.

If you have management gaps in your team, simply show the gaps and indicate you are searching for the right candidates for the role(s). Investors do not expect you to have a full management team when you are just starting your business.

Key Questions to Answer When Structuring Your Management Team

Who are the key leaders?
What experiences, skills, and educational backgrounds do you expect your key leaders to have?
Do your key leaders have industry experience?
What positions will they fill and what duties will they perform in those positions?
What level of authority do the key leaders have and what are their responsibilities?
What is the salary for the various management positions that will attract the ideal candidates?

Additional Tips for Writing the Management Structure Section

1. Avoid Adding ‘Ghost’ Names to Your Management Team

There is always that temptation to include a ‘ghost’ name to your management team to attract and influence investors to invest in your business. Although the presence of these celebrity management team members may attract the attention of investors, it can cause your business to lose any credibility if you get found out.

Seasoned investors will investigate further the members of your management team before committing fully to your business If they find out that the celebrity name used does not play any actual role in your business, they will not invest and may write you off as dishonest.

2. Focus on Credentials But Pay Extra Attention to the Roles

Investors want to know the experience that your key team members have to determine if they can successfully reach the company’s growth and financial goals.

While it is an excellent boost for your key management team to have the right credentials, you also want to pay extra attention to the roles they will play in your company.

Organizational Chart

Adding an organizational chart in this section of your business plan is not necessary, you can do it in your business plan’s appendix.

If you are exploring funding options, it is not uncommon to get asked for your organizational chart. The function of an organizational chart goes beyond raising money, you can also use it as a useful planning tool for your business.

An organizational chart can help you identify how best to structure your management team for maximum productivity and point you towards key roles you need to fill in the future.

You can use the organizational chart to show your company’s internal management structure such as the roles and responsibilities of your management team, and relationships that exist between them.

5. Describe Your Product and Service Offering

In your business plan, you have to describe what you sell or the service you plan to offer. It is the next step after defining your business and management structure. The products and services section is where you sell the benefits of your business.

Here you have to explain how your product or service will benefit your customers and describe your product lifecycle. It is also the section where you write down your plans for intellectual property like patent filings and copyrighting.

The research and development that you are undertaking for your product or service need to be explained in detail in this section. However, do not get too technical, sell the general idea and its benefits.

If you have any diagrams or intricate designs of your product or service, do not include them in the products and services section. Instead, leave them for the addendum page. Also, if you are leaving out diagrams or designs for the addendum, ensure you add this phrase “For more detail, visit the addendum Page #.”

Your product and service section in your business plan should include the following:

A detailed explanation that clearly shows how your product or service works.
The pricing model for your product or service.
Your business’ sales and distribution strategy.
The ideal customers that want your product or service.
The benefits of your products and services.
Reason(s) why your product or service is a better alternative to what your competitors are currently offering in the market.
Plans for filling the orders you receive
If you have current or pending patents, copyrights, and trademarks for your product or service, you can also discuss them in this section.

What to Focus On When Describing the Benefits, Lifecycle, and Production Process of Your Products or Services

In the products and services section, you have to distill the benefits, lifecycle, and production process of your products and services.

When describing the benefits of your products or services, here are some key factors to focus on.

Unique features
Translating the unique features into benefits
The emotional, psychological, and practical payoffs to attract customers
Intellectual property rights or any patents

When describing the product life cycle of your products or services, here are some key factors to focus on.

Upsells, cross-sells, and down-sells
Time between purchases
Plans for research and development.

When describing the production process for your products or services, you need to think about the following:

The creation of new or existing products and services.
The sources for the raw materials or components you need for production.
Assembling the products
Maintaining quality control
Supply-chain logistics (receiving the raw materials and delivering the finished products)
The day-to-day management of the production processes, bookkeeping, and inventory.

Tips for Writing the Products or Services Section of Your Business Plan

1. Avoid Technical Descriptions and Industry Buzzwords

The products and services section of your business plan should clearly describe the products and services that your company provides. However, it is not a section to include technical jargons that anyone outside your industry will not understand.

A good practice is to remove highly detailed or technical descriptions in favor of simple terms. Industry buzzwords are not necessary, if there are simpler terms you can use, then use them. If you plan to use your business plan to source funds, making the product or service section so technical will do you no favors.

2. Describe How Your Products or Services Differ from Your Competitors

When potential investors look at your business plan, they want to know how the products and services you are offering differ from that of your competition. Differentiating your products or services from your competition in a way that makes your solution more attractive is critical.

If you are going the innovative path and there is no market currently for your product or service, you need to describe in this section why the market needs your product or service.

For example, overnight delivery was a niche business that only a few companies were participating in. Federal Express (FedEx) had to show in its business plan that there was a large opportunity for that service and they justified why the market needed that service.

3. Long or Short Products or Services Section

Should your products or services section be short? Does the long products or services section attract more investors?

There are no straightforward answers to these questions. Whether your products or services section should be long or relatively short depends on the nature of your business.

If your business is product-focused, then automatically you need to use more space to describe the details of your products. However, if the product your business sells is a commodity item that relies on competitive pricing or other pricing strategies, you do not have to use up so much space to provide significant details about the product.

Likewise, if you are selling a commodity that is available in numerous outlets, then you do not have to spend time on writing a long products or services section.

The key to the success of your business is most likely the effectiveness of your marketing strategies compared to your competitors. Use more space to address that section.

If you are creating a new product or service that the market does not know about, your products or services section can be lengthy. The reason why is because you need to explain everything about the product or service such as the nature of the product, its use case, and values.

A short products or services section for an innovative product or service will not give the readers enough information to properly evaluate your business.

4. Describe Your Relationships with Vendors or Suppliers

Your business will rely on vendors or suppliers to supply raw materials or the components needed to make your products. In your products and services section, describe your relationships with your vendors and suppliers fully.

Avoid the mistake of relying on only one supplier or vendor. If that supplier or vendor fails to supply or goes out of business, you can easily face supply problems and struggle to meet your demands. Plan to set up multiple vendor or supplier relationships for better business stability.

5. Your Primary Goal Is to Convince Your Readers

The primary goal of your business plan is to convince your readers that your business is viable and to create a guide for your business to follow. It applies to the products and services section.

When drafting this section, think like the reader. See your reader as someone who has no idea about your products and services. You are using the products and services section to provide the needed information to help your reader understand your products and services. As a result, you have to be clear and to the point.

While you want to educate your readers about your products or services, you also do not want to bore them with lots of technical details. Show your products and services and not your fancy choice of words.

Your products and services section should provide the answer to the “what” question for your business. You and your management team may run the business, but it is your products and services that are the lifeblood of the business.

Key Questions to Answer When Writing your Products and Services Section

Answering these questions can help you write your products and services section quickly and in a way that will appeal to your readers.

Are your products existing on the market or are they still in the development stage?
What is your timeline for adding new products and services to the market?
What are the positives that make your products and services different from your competitors?
Do your products and services have any competitive advantage that your competitors’ products and services do not currently have?
Do your products or services have any competitive disadvantages that you need to overcome to compete with your competitors? If your answer is yes, state how you plan to overcome them,
How much does it cost to produce your products or services? How much do you plan to sell it for?
What is the price for your products and services compared to your competitors? Is pricing an issue?
What are your operating costs and will it be low enough for you to compete with your competitors and still take home a reasonable profit margin?
What is your plan for acquiring your products? Are you involved in the production of your products or services?
Are you the manufacturer and produce all the components you need to create your products? Do you assemble your products by using components supplied by other manufacturers? Do you purchase your products directly from suppliers or wholesalers?
Do you have a steady supply of products that you need to start your business? (If your business is yet to kick-off)
How do you plan to distribute your products or services to the market?

You can also hint at the marketing or promotion plans you have for your products or services such as how you plan to build awareness or retain customers. The next section is where you can go fully into details about your business’s marketing and sales plan.

6. Show and Explain Your Marketing and Sales Plan

Providing great products and services is wonderful, but it means nothing if you do not have a marketing and sales plan to inform your customers about them. Your marketing and sales plan is critical to the success of your business.

The sales and marketing section is where you show and offer a detailed explanation of your marketing and sales plan and how you plan to execute it. It covers your pricing plan, proposed advertising and promotion activities, activities and partnerships you need to make your business a success, and the benefits of your products and services.

There are several ways you can approach your marketing and sales strategy. Ideally, your marketing and sales strategy has to fit the unique needs of your business.

In this section, you describe how the plans your business has for attracting and retaining customers, and the exact process for making a sale happen. It is essential to thoroughly describe your complete marketing and sales plans because you are still going to reference this section when you are making financial projections for your business.

Outline Your Business’ Unique Selling Proposition (USP)

The sales and marketing section is where you outline your business’s unique selling proposition (USP). When you are developing your unique selling proposition, think about the strongest reasons why people should buy from you over your competition. That reason(s) is most likely a good fit to serve as your unique selling proposition (USP).

Target Market and Target Audience

Plans on how to get your products or services to your target market and how to get your target audience to buy them go into this section. You also highlight the strengths of your business here, particularly what sets them apart from your competition.

Before you start writing your marketing and sales plan, you need to have properly defined your target audience and fleshed out your buyer persona. If you do not first understand the individual you are marketing to, your marketing and sales plan will lack any substance and easily fall.

Creating a Smart Marketing and Sales Plan

Marketing your products and services is an investment that requires you to spend money. Like any other investment, you have to generate a good return on investment (ROI) to justify using that marketing and sales plan. Good marketing and sales plans bring in high sales and profits to your company.

Avoid spending money on unproductive marketing channels. Do your research and find out the best marketing and sales plan that works best for your company.

Your marketing and sales plan can be broken into different parts: your positioning statement, pricing, promotion, packaging, advertising, public relations, content marketing, social media, and strategic alliances.

Your Positioning Statement

Your positioning statement is the first part of your marketing and sales plan. It refers to the way you present your company to your customers.

Are you the premium solution, the low-price solution, or are you the intermediary between the two extremes in the market? What do you offer that your competitors do not that can give you leverage in the market?

Before you start writing your positioning statement, you need to spend some time evaluating the current market conditions. Here are some questions that can help you to evaluate the market

What are the unique features or benefits that you offer that your competitors lack?
What are your customers’ primary needs and wants?
Why should a customer choose you over your competition? How do you plan to differentiate yourself from the competition?
How does your company’s solution compare with other solutions in the market?

After answering these questions, then you can start writing your positioning statement. Your positioning statement does not have to be in-depth or too long.

All you need to explain with your positioning statement are two focus areas. The first is the position of your company within the competitive landscape. The other focus area is the core value proposition that sets your company apart from other alternatives that your ideal customer might consider.

Here is a simple template you can use to develop a positioning statement.

For [description of target market] who [need of target market], [product or service] [how it meets the need]. Unlike [top competition], it [most essential distinguishing feature].

For example, let’s create the positioning statement for fictional accounting software and QuickBooks alternative , TBooks.

“For small business owners who need accounting services, TBooks is an accounting software that helps small businesses handle their small business bookkeeping basics quickly and easily. Unlike Wave, TBooks gives small businesses access to live sessions with top accountants.”

You can edit this positioning statement sample and fill it with your business details.

After writing your positioning statement, the next step is the pricing of your offerings. The overall positioning strategy you set in your positioning statement will often determine how you price your products or services.

Pricing is a powerful tool that sends a strong message to your customers. Failure to get your pricing strategy right can make or mar your business. If you are targeting a low-income audience, setting a premium price can result in low sales.

You can use pricing to communicate your positioning to your customers. For example, if you are offering a product at a premium price, you are sending a message to your customers that the product belongs to the premium category.

Basic Rules to Follow When Pricing Your Offering

Setting a price for your offering involves more than just putting a price tag on it. Deciding on the right pricing for your offering requires following some basic rules. They include covering your costs, primary and secondary profit center pricing, and matching the market rate.

Covering Your Costs: The price you set for your products or service should be more than it costs you to produce and deliver them. Every business has the same goal, to make a profit. Depending on the strategy you want to use, there are exceptions to this rule. However, the vast majority of businesses follow this rule.
Primary and Secondary Profit Center Pricing: When a company sets its price above the cost of production, it is making that product its primary profit center. A company can also decide not to make its initial price its primary profit center by selling below or at even with its production cost. It rather depends on the support product or even maintenance that is associated with the initial purchase to make its profit. The initial price thus became its secondary profit center.
Matching the Market Rate: A good rule to follow when pricing your products or services is to match your pricing with consumer demand and expectations. If you price your products or services beyond the price your customer perceives as the ideal price range, you may end up with no customers. Pricing your products too low below what your customer perceives as the ideal price range may lead to them undervaluing your offering.

Pricing Strategy

Your pricing strategy influences the price of your offering. There are several pricing strategies available for you to choose from when examining the right pricing strategy for your business. They include cost-plus pricing, market-based pricing, value pricing, and more.

Cost-plus Pricing: This strategy is one of the simplest and oldest pricing strategies. Here you consider the cost of producing a unit of your product and then add a profit to it to arrive at your market price. It is an effective pricing strategy for manufacturers because it helps them cover their initial costs. Another name for the cost-plus pricing strategy is the markup pricing strategy.
Market-based Pricing: This pricing strategy analyses the market including competitors’ pricing and then sets a price based on what the market is expecting. With this pricing strategy, you can either set your price at the low-end or high-end of the market.
Value Pricing: This pricing strategy involves setting a price based on the value you are providing to your customer. When adopting a value-based pricing strategy, you have to set a price that your customers are willing to pay. Service-based businesses such as small business insurance providers , luxury goods sellers, and the fashion industry use this pricing strategy.

After carefully sorting out your positioning statement and pricing, the next item to look at is your promotional strategy. Your promotional strategy explains how you plan on communicating with your customers and prospects.

As a business, you must measure all your costs, including the cost of your promotions. You also want to measure how much sales your promotions bring for your business to determine its usefulness. Promotional strategies or programs that do not lead to profit need to be removed.

There are different types of promotional strategies you can adopt for your business, they include advertising, public relations, and content marketing.

Advertising

Your business plan should include your advertising plan which can be found in the marketing and sales plan section. You need to include an overview of your advertising plans such as the areas you plan to spend money on to advertise your business and offers.

Ensure that you make it clear in this section if your business will be advertising online or using the more traditional offline media, or the combination of both online and offline media. You can also include the advertising medium you want to use to raise awareness about your business and offers.

Some common online advertising mediums you can use include social media ads, landing pages, sales pages, SEO, Pay-Per-Click, emails, Google Ads, and others. Some common traditional and offline advertising mediums include word of mouth, radios, direct mail, televisions, flyers, billboards, posters, and others.

A key component of your advertising strategy is how you plan to measure the effectiveness and success of your advertising campaign. There is no point in sticking with an advertising plan or medium that does not produce results for your business in the long run.

Public Relations

A great way to reach your customers is to get the media to cover your business or product. Publicity, especially good ones, should be a part of your marketing and sales plan. In this section, show your plans for getting prominent reviews of your product from reputable publications and sources.

Your business needs that exposure to grow. If public relations is a crucial part of your promotional strategy, provide details about your public relations plan here.

Content Marketing

Content marketing is a popular promotional strategy used by businesses to inform and attract their customers. It is about teaching and educating your prospects on various topics of interest in your niche, it does not just involve informing them about the benefits and features of the products and services you have,

Businesses publish content usually for free where they provide useful information, tips, and advice so that their target market can be made aware of the importance of their products and services. Content marketing strategies seek to nurture prospects into buyers over time by simply providing value.

Your company can create a blog where it will be publishing content for its target market. You will need to use the best website builder such as Wix and Squarespace and the best web hosting services such as Bluehost, Hostinger, and other Bluehost alternatives to create a functional blog or website.

If content marketing is a crucial part of your promotional strategy (as it should be), detail your plans under promotions.

Including high-quality images of the packaging of your product in your business plan is a lovely idea. You can add the images of the packaging of that product in the marketing and sales plan section. If you are not selling a product, then you do not need to include any worry about the physical packaging of your product.

When organizing the packaging section of your business plan, you can answer the following questions to make maximum use of this section.

Is your choice of packaging consistent with your positioning strategy?
What key value proposition does your packaging communicate? (It should reflect the key value proposition of your business)
How does your packaging compare to that of your competitors?

Social Media

Your 21st-century business needs to have a good social media presence. Not having one is leaving out opportunities for growth and reaching out to your prospect.

You do not have to join the thousands of social media platforms out there. What you need to do is join the ones that your customers are active on and be active there.

Businesses use social media to provide information about their products such as promotions, discounts, the benefits of their products, and content on their blogs.

Social media is also a platform for engaging with your customers and getting feedback about your products or services. Make no mistake, more and more of your prospects are using social media channels to find more information about companies.

You need to consider the social media channels you want to prioritize your business (prioritize the ones your customers are active in) and your branding plans in this section.

Choosing the right social media platform

Strategic Alliances

If your company plans to work closely with other companies as part of your sales and marketing plan, include it in this section. Prove details about those partnerships in your business plan if you have already established them.

Strategic alliances can be beneficial for all parties involved including your company. Working closely with another company in the form of a partnership can provide access to a different target market segment for your company.

The company you are partnering with may also gain access to your target market or simply offer a new product or service (that of your company) to its customers.

Mutually beneficial partnerships can cover the weaknesses of one company with the strength of another. You should consider strategic alliances with companies that sell complimentary products to yours. For example, if you provide printers, you can partner with a company that produces ink since the customers that buy printers from you will also need inks for printing.

Steps Involved in Creating a Marketing and Sales Plan

1. Focus on Your Target Market

Identify who your customers are, the market you want to target. Then determine the best ways to get your products or services to your potential customers.

2. Evaluate Your Competition

One of the goals of having a marketing plan is to distinguish yourself from your competition. You cannot stand out from them without first knowing them in and out.

You can know your competitors by gathering information about their products, pricing, service, and advertising campaigns.

These questions can help you know your competition.

What makes your competition successful?
What are their weaknesses?
What are customers saying about your competition?

3. Consider Your Brand

Customers' perception of your brand has a strong impact on your sales. Your marketing and sales plan should seek to bolster the image of your brand. Before you start marketing your business, think about the message you want to pass across about your business and your products and services.

4. Focus on Benefits

The majority of your customers do not view your product in terms of features, what they want to know is the benefits and solutions your product offers. Think about the problems your product solves and the benefits it delivers, and use it to create the right sales and marketing message.

Your marketing plan should focus on what you want your customer to get instead of what you provide. Identify those benefits in your marketing and sales plan.

5. Focus on Differentiation

Your marketing and sales plan should look for a unique angle they can take that differentiates your business from the competition, even if the products offered are similar. Some good areas of differentiation you can use are your benefits, pricing, and features.

Key Questions to Answer When Writing Your Marketing and Sales Plan

What is your company’s budget for sales and marketing campaigns?
What key metrics will you use to determine if your marketing plans are successful?
What are your alternatives if your initial marketing efforts do not succeed?
Who are the sales representatives you need to promote your products or services?
What are the marketing and sales channels you plan to use? How do you plan to get your products in front of your ideal customers?
Where will you sell your products?

You may want to include samples of marketing materials you plan to use such as print ads, website descriptions, and social media ads. While it is not compulsory to include these samples, it can help you better communicate your marketing and sales plan and objectives.

The purpose of the marketing and sales section is to answer this question “How will you reach your customers?” If you cannot convincingly provide an answer to this question, you need to rework your marketing and sales section.

7. Clearly Show Your Funding Request

If you are writing your business plan to ask for funding from investors or financial institutions, the funding request section is where you will outline your funding requirements. The funding request section should answer the question ‘How much money will your business need in the near future (3 to 5 years)?’

A good funding request section will clearly outline and explain the amount of funding your business needs over the next five years. You need to know the amount of money your business needs to make an accurate funding request.

Also, when writing your funding request, provide details of how the funds will be used over the period. Specify if you want to use the funds to buy raw materials or machinery, pay salaries, pay for advertisements, and cover specific bills such as rent and electricity.

In addition to explaining what you want to use the funds requested for, you need to clearly state the projected return on investment (ROI) . Investors and creditors want to know if your business can generate profit for them if they put funds into it.

Ensure you do not inflate the figures and stay as realistic as possible. Investors and financial institutions you are seeking funds from will do their research before investing money in your business.

If you are not sure of an exact number to request from, you can use some range of numbers as rough estimates. Add a best-case scenario and a work-case scenario to your funding request. Also, include a description of your strategic future financial plans such as selling your business or paying off debts.

Funding Request: Debt or Equity?

When making your funding request, specify the type of funding you want. Do you want debt or equity? Draw out the terms that will be applicable for the funding, and the length of time the funding request will cover.

Case for Equity

If your new business has not yet started generating profits, you are most likely preparing to sell equity in your business to raise capital at the early stage. Equity here refers to ownership. In this case, you are selling a portion of your company to raise capital.

Although this method of raising capital for your business does not put your business in debt, keep in mind that an equity owner may expect to play a key role in company decisions even if he does not hold a major stake in the company.

Most equity sales for startups are usually private transactions . If you are making a funding request by offering equity in exchange for funding, let the investor know that they will be paid a dividend (a share of the company’s profit). Also, let the investor know the process for selling their equity in your business.

Case for Debt

You may decide not to offer equity in exchange for funds, instead, you make a funding request with the promise to pay back the money borrowed at the agreed time frame.

When making a funding request with an agreement to pay back, note that you will have to repay your creditors both the principal amount borrowed and the interest on it. Financial institutions offer this type of funding for businesses.

Large companies combine both equity and debt in their capital structure. When drafting your business plan, decide if you want to offer both or one over the other.

Before you sell equity in exchange for funding in your business, consider if you are willing to accept not being in total control of your business. Also, before you seek loans in your funding request section, ensure that the terms of repayment are favorable.

You should set a clear timeline in your funding request so that potential investors and creditors can know what you are expecting. Some investors and creditors may agree to your funding request and then delay payment for longer than 30 days, meanwhile, your business needs an immediate cash injection to operate efficiently.

Additional Tips for Writing the Funding Request Section of your Business Plan

The funding request section is not necessary for every business, it is only needed by businesses who plan to use their business plan to secure funding.

If you are adding the funding request section to your business plan, provide an itemized summary of how you plan to use the funds requested. Hiring a lawyer, accountant, or other professionals may be necessary for the proper development of this section.

You should also gather and use financial statements that add credibility and support to your funding requests. Ensure that the financial statements you use should include your projected financial data such as projected cash flows, forecast statements, and expenditure budgets.

If you are an existing business, include all historical financial statements such as cash flow statements, balance sheets and income statements .

Provide monthly and quarterly financial statements for a year. If your business has records that date back beyond the one-year mark, add the yearly statements of those years. These documents are for the appendix section of your business plan.

8. Detail Your Financial Plan, Metrics, and Projections

If you used the funding request section in your business plan, supplement it with a financial plan, metrics, and projections. This section paints a picture of the past performance of your business and then goes ahead to make an informed projection about its future.

The goal of this section is to convince readers that your business is going to be a financial success. It outlines your business plan to generate enough profit to repay the loan (with interest if applicable) and to generate a decent return on investment for investors.

If you have an existing business already in operation, use this section to demonstrate stability through finance. This section should include your cash flow statements, balance sheets, and income statements covering the last three to five years. If your business has some acceptable collateral that you can use to acquire loans, list it in the financial plan, metrics, and projection section.

Apart from current financial statements, this section should also contain a prospective financial outlook that spans the next five years. Include forecasted income statements, cash flow statements, balance sheets, and capital expenditure budget.

If your business is new and is not yet generating profit, use clear and realistic projections to show the potentials of your business.

When drafting this section, research industry norms and the performance of comparable businesses. Your financial projections should cover at least five years. State the logic behind your financial projections. Remember you can always make adjustments to this section as the variables change.

The financial plan, metrics, and projection section create a baseline which your business can either exceed or fail to reach. If your business fails to reach your projections in this section, you need to understand why it failed.

Investors and loan managers spend a lot of time going through the financial plan, metrics, and projection section compared to other parts of the business plan. Ensure you spend time creating credible financial analyses for your business in this section.

Many entrepreneurs find this section daunting to write. You do not need a business degree to create a solid financial forecast for your business. Business finances, especially for startups, are not as complicated as they seem. There are several online tools and templates that make writing this section so much easier.

Use Graphs and Charts

The financial plan, metrics, and projection section is a great place to use graphs and charts to tell the financial story of your business. Charts and images make it easier to communicate your finances.

Accuracy in this section is key, ensure you carefully analyze your past financial statements properly before making financial projects.

Address the Risk Factors and Show Realistic Financial Projections

Keep your financial plan, metrics, and projection realistic. It is okay to be optimistic in your financial projection, however, you have to justify it.

You should also address the various risk factors associated with your business in this section. Investors want to know the potential risks involved, show them. You should also show your plans for mitigating those risks.

What You Should In The Financial Plan, Metrics, and Projection Section of Your Business Plan

The financial plan, metrics, and projection section of your business plan should have monthly sales and revenue forecasts for the first year. It should also include annual projections that cover 3 to 5 years.

A three-year projection is a basic requirement to have in your business plan. However, some investors may request a five-year forecast.

Your business plan should include the following financial statements: sales forecast, personnel plan, income statement, income statement, cash flow statement, balance sheet, and an exit strategy.

1. Sales Forecast

Sales forecast refers to your projections about the number of sales your business is going to record over the next few years. It is typically broken into several rows, with each row assigned to a core product or service that your business is offering.

One common mistake people make in their business plan is to break down the sales forecast section into long details. A sales forecast should forecast the high-level details.

For example, if you are forecasting sales for a payroll software provider, you could break down your forecast into target market segments or subscription categories.

Your sales forecast section should also have a corresponding row for each sales row to cover the direct cost or Cost of Goods Sold (COGS). The objective of these rows is to show the expenses that your business incurs in making and delivering your product or service.

Note that your Cost of Goods Sold (COGS) should only cover those direct costs incurred when making your products. Other indirect expenses such as insurance, salaries, payroll tax, and rent should not be included.

For example, the Cost of Goods Sold (COGS) for a restaurant is the cost of ingredients while for a consulting company it will be the cost of paper and other presentation materials.

2. Personnel Plan

The personnel plan section is where you provide details about the payment plan for your employees. For a small business, you can easily list every position in your company and how much you plan to pay in the personnel plan.

However, for larger businesses, you have to break the personnel plan into functional groups such as sales and marketing.

The personnel plan will also include the cost of an employee beyond salary, commonly referred to as the employee burden. These costs include insurance, payroll taxes , and other essential costs incurred monthly as a result of having employees on your payroll.

3. Income Statement

The income statement section shows if your business is making a profit or taking a loss. Another name for the income statement is the profit and loss (P&L). It takes data from your sales forecast and personnel plan and adds other ongoing expenses you incur while running your business.

Every business plan should have an income statement. It subtracts your business expenses from its earnings to show if your business is generating profit or incurring losses.

The income statement has the following items: sales, Cost of Goods Sold (COGS), gross margin, operating expenses, total operating expenses, operating income , total expenses, and net profit.

Sales refer to the revenue your business generates from selling its products or services. Other names for sales are income or revenue.
Cost of Goods Sold (COGS) refers to the total cost of selling your products. Other names for COGS are direct costs or cost of sales. Manufacturing businesses use the Costs of Goods Manufactured (COGM) .
Gross Margin is the figure you get when you subtract your COGS from your sales. In your income statement, you can express it as a percentage of total sales (Gross margin / Sales = Gross Margin Percent).
Operating Expenses refer to all the expenses you incur from running your business. It exempts the COGS because it stands alone as a core part of your income statement. You also have to exclude taxes, depreciation, and amortization. Your operating expenses include salaries, marketing expenses, research and development (R&D) expenses, and other expenses.
Total Operating Expenses refers to the sum of all your operating expenses including those exemptions named above under operating expenses.
Operating Income refers to earnings before interest, taxes, depreciation, and amortization. It is simply known as the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization). Calculating your operating income is simple, all you need to do is to subtract your COGS and total operating expenses from your sales.
Total Expenses refer to the sum of your operating expenses and your business’ interest, taxes, depreciation, and amortization.
Net profit shows whether your business has made a profit or taken a loss during a given timeframe.

4. Cash Flow Statement

The cash flow statement tracks the money you have in the bank at any given point. It is often confused with the income statement or the profit and loss statement. They are both different types of financial statements. The income statement calculates your profits and losses while the cash flow statement shows you how much you have in the bank.

5. Balance Sheet

The balance sheet is a financial statement that provides an overview of the financial health of your business. It contains information about the assets and liabilities of your company, and owner’s or shareholders’ equity.

You can get the net worth of your company by subtracting your company’s liabilities from its assets.

6. Exit Strategy

The exit strategy refers to a probable plan for selling your business either to the public in an IPO or to another company. It is the last thing you include in the financial plan, metrics, and projection section.

You can choose to omit the exit strategy from your business plan if you plan to maintain full ownership of your business and do not plan on seeking angel investment or virtual capitalist (VC) funding.

Investors may want to know what your exit plan is. They invest in your business to get a good return on investment.

Your exit strategy does not have to include long and boring details. Ensure you identify some interested parties who may be interested in buying the company if it becomes a success.

Exit Strategy Section of Business Plan Infographic

Key Questions to Answer with Your Financial Plan, Metrics, and Projection

Your financial plan, metrics, and projection section helps investors, creditors, or your internal managers to understand what your expenses are, the amount of cash you need, and what it takes to make your company profitable. It also shows what you will be doing with any funding.

You do not need to show actual financial data if you do not have one. Adding forecasts and projections to your financial statements is added proof that your strategy is feasible and shows investors you have planned properly.

Here are some key questions to answer to help you develop this section.

What is your sales forecast for the next year?
When will your company achieve a positive cash flow?
What are the core expenses you need to operate?
How much money do you need upfront to operate or grow your company?
How will you use the loans or investments?

9. Add an Appendix to Your Business Plan

Adding an appendix to your business plan is optional. It is a useful place to put any charts, tables, legal notes, definitions, permits, résumés, and other critical information that do not fit into other sections of your business plan.

The appendix section is where you would want to include details of a patent or patent-pending if you have one. You can always add illustrations or images of your products here. It is the last section of your business plan.

When writing your business plan, there are details you cut short or remove to prevent the entire section from becoming too lengthy. There are also details you want to include in the business plan but are not a good fit for any of the previous sections. You can add that additional information to the appendix section.

Businesses also use the appendix section to include supporting documents or other materials specially requested by investors or lenders.

You can include just about any information that supports the assumptions and statements you made in the business plan under the appendix. It is the one place in the business plan where unrelated data and information can coexist amicably.

If your appendix section is lengthy, try organizing it by adding a table of contents at the beginning of the appendix section. It is also advisable to group similar information to make it easier for the reader to access them.

A well-organized appendix section makes it easier to share your information clearly and concisely. Add footnotes throughout the rest of the business plan or make references in the plan to the documents in the appendix.

The appendix section is usually only necessary if you are seeking funding from investors or lenders, or hoping to attract partners.

People reading business plans do not want to spend time going through a heap of backup information, numbers, and charts. Keep these documents or information in the Appendix section in case the reader wants to dig deeper.

Common Items to Include in the Appendix Section of Your Business Plan

The appendix section includes documents that supplement or support the information or claims given in other sections of the business plans. Common items you can include in the appendix section include:

Additional data about the process of manufacturing or creation
Additional description of products or services such as product schematics
Additional financial documents or projections
Articles of incorporation and status
Backup for market research or competitive analysis
Bank statements
Business registries
Client testimonials (if your business is already running)
Copies of insurances
Credit histories (personal or/and business)
Deeds and permits
Equipment leases
Examples of marketing and advertising collateral
Industry associations and memberships
Images of product
Intellectual property
Key customer contracts
Legal documents and other contracts
Letters of reference
Links to references
Market research data
Organizational charts
Photographs of potential facilities
Professional licenses pertaining to your legal structure or type of business
Purchase orders
Resumes of the founder(s) and key managers
State and federal identification numbers or codes
Trademarks or patents’ registrations

Avoid using the appendix section as a place to dump any document or information you feel like adding. Only add documents or information that you support or increase the credibility of your business plan.

Tips and Strategies for Writing a Convincing Business Plan

To achieve a perfect business plan, you need to consider some key tips and strategies. These tips will raise the efficiency of your business plan above average.

1. Know Your Audience

When writing a business plan, you need to know your audience . Business owners write business plans for different reasons. Your business plan has to be specific. For example, you can write business plans to potential investors, banks, and even fellow board members of the company.

The audience you are writing to determines the structure of the business plan. As a business owner, you have to know your audience. Not everyone will be your audience. Knowing your audience will help you to narrow the scope of your business plan.

Consider what your audience wants to see in your projects, the likely questions they might ask, and what interests them.

A business plan used to address a company's board members will center on its employment schemes, internal affairs, projects, stakeholders, etc.
A business plan for financial institutions will talk about the size of your market and the chances for you to pay back any loans you demand.
A business plan for investors will show proof that you can return the investment capital within a specific time. In addition, it discusses your financial projections, tractions, and market size.

2. Get Inspiration from People

Writing a business plan from scratch as an entrepreneur can be daunting. That is why you need the right inspiration to push you to write one. You can gain inspiration from the successful business plans of other businesses. Look at their business plans, the style they use, the structure of the project, etc.

To make your business plan easier to create, search companies related to your business to get an exact copy of what you need to create an effective business plan. You can also make references while citing examples in your business plans.

When drafting your business plan, get as much help from others as you possibly can. By getting inspiration from people, you can create something better than what they have.

3. Avoid Being Over Optimistic

Many business owners make use of strong adjectives to qualify their content. One of the big mistakes entrepreneurs make when preparing a business plan is promising too much.

The use of superlatives and over-optimistic claims can prepare the audience for more than you can offer. In the end, you disappoint the confidence they have in you.

In most cases, the best option is to be realistic with your claims and statistics. Most of the investors can sense a bit of incompetency from the overuse of superlatives. As a new entrepreneur, do not be tempted to over-promise to get the interests of investors.

The concept of entrepreneurship centers on risks, nothing is certain when you make future analyses. What separates the best is the ability to do careful research and work towards achieving that, not promising more than you can achieve.

To make an excellent first impression as an entrepreneur, replace superlatives with compelling data-driven content. In this way, you are more specific than someone promising a huge ROI from an investment.

4. Keep it Simple and Short

When writing business plans, ensure you keep them simple throughout. Irrespective of the purpose of the business plan, your goal is to convince the audience.

One way to achieve this goal is to make them understand your proposal. Therefore, it would be best if you avoid the use of complex grammar to express yourself. It would be a huge turn-off if the people you want to convince are not familiar with your use of words.

Another thing to note is the length of your business plan. It would be best if you made it as brief as possible.

You hardly see investors or agencies that read through an extremely long document. In that case, if your first few pages can’t convince them, then you have lost it. The more pages you write, the higher the chances of you derailing from the essential contents.

To ensure your business plan has a high conversion rate, you need to dispose of every unnecessary information. For example, if you have a strategy that you are not sure of, it would be best to leave it out of the plan.

5. Make an Outline and Follow Through

A perfect business plan must have touched every part needed to convince the audience. Business owners get easily tempted to concentrate more on their products than on other sections. Doing this can be detrimental to the efficiency of the business plan.

For example, imagine you talking about a product but omitting or providing very little information about the target audience. You will leave your clients confused.

To ensure that your business plan communicates your full business model to readers, you have to input all the necessary information in it. One of the best ways to achieve this is to design a structure and stick to it.

This structure is what guides you throughout the writing. To make your work easier, you can assign an estimated word count or page limit to every section to avoid making it too bulky for easy reading. As a guide, the necessary things your business plan must contain are:

Table of contents
Introduction
Product or service description
Target audience
Market size
Competition analysis
Financial projections

Some specific businesses can include some other essential sections, but these are the key sections that must be in every business plan.

6. Ask a Professional to Proofread

When writing a business plan, you must tie all loose ends to get a perfect result. When you are done with writing, call a professional to go through the document for you. You are bound to make mistakes, and the way to correct them is to get external help.

You should get a professional in your field who can relate to every section of your business plan. It would be easier for the professional to notice the inner flaws in the document than an editor with no knowledge of your business.

In addition to getting a professional to proofread, get an editor to proofread and edit your document. The editor will help you identify grammatical errors, spelling mistakes, and inappropriate writing styles.

Writing a business plan can be daunting, but you can surmount that obstacle and get the best out of it with these tips.

Business Plan Examples and Templates That’ll Save You Tons of Time

1. hubspot's one-page business plan.

The one-page business plan template by HubSpot is the perfect guide for businesses of any size, irrespective of their business strategy. Although the template is condensed into a page, your final business plan should not be a page long! The template is designed to ask helpful questions that can help you develop your business plan.

Hubspot’s one-page business plan template is divided into nine fields:

Business opportunity
Company description
Industry analysis
Target market
Implementation timeline
Marketing plan
Financial summary
Funding required

2. Bplan’s Free Business Plan Template

Bplans' free business plan template is investor-approved. It is a rich template used by prestigious educational institutions such as Babson College and Princeton University to teach entrepreneurs how to create a business plan.

The template has six sections: the executive summary, opportunity, execution, company, financial plan, and appendix. There is a step-by-step guide for writing every little detail in the business plan. Follow the instructions each step of the way and you will create a business plan that impresses investors or lenders easily.

3. HubSpot's Downloadable Business Plan Template

HubSpot’s downloadable business plan template is a more comprehensive option compared to the one-page business template by HubSpot. This free and downloadable business plan template is designed for entrepreneurs.

The template is a comprehensive guide and checklist for business owners just starting their businesses. It tells you everything you need to fill in each section of the business plan and how to do it.

There are nine sections in this business plan template: an executive summary, company and business description, product and services line, market analysis, marketing plan, sales plan, legal notes, financial considerations, and appendix.

4. Business Plan by My Own Business Institute

My Own Business Institute (MOBI) which is a part of Santa Clara University's Center for Innovation and Entrepreneurship offers a free business plan template. You can either copy the free business template from the link provided above or download it as a Word document.

The comprehensive template consists of a whopping 15 sections.

The Business Profile
The Vision and the People
Home-Based Business and Freelance Business Opportunities
Organization
Licenses and Permits
Business Insurance
Communication Tools
Acquisitions
Location and Leasing
Accounting and Cash Flow
Opening and Marketing
Managing Employees
Expanding and Handling Problems

There are lots of helpful tips on how to fill each section in the free business plan template by MOBI.

5. Score's Business Plan Template for Startups

Score is an American nonprofit organization that helps entrepreneurs build successful companies. This business plan template for startups by Score is available for free download. The business plan template asks a whooping 150 generic questions that help entrepreneurs from different fields to set up the perfect business plan.

The business plan template for startups contains clear instructions and worksheets, all you have to do is answer the questions and fill the worksheets.

There are nine sections in the business plan template: executive summary, company description, products and services, marketing plan, operational plan, management and organization, startup expenses and capitalization, financial plan, and appendices.

The ‘refining the plan’ resource contains instructions that help you modify your business plan to suit your specific needs, industry, and target audience. After you have completed Score’s business plan template, you can work with a SCORE mentor for expert advice in business planning.

6. Minimalist Architecture Business Plan Template by Venngage

The minimalist architecture business plan template is a simple template by Venngage that you can customize to suit your business needs .

There are five sections in the template: an executive summary, statement of problem, approach and methodology, qualifications, and schedule and benchmark. The business plan template has instructions that guide users on what to fill in each section.

7. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers two free business plan templates, filled with practical real-life examples that you can model to create your business plan. Both free business plan templates are written by fictional business owners: Rebecca who owns a consulting firm, and Andrew who owns a toy company.

There are five sections in the two SBA’s free business plan templates.

Executive Summary
Company Description
Service Line
Marketing and Sales

8. The $100 Startup's One-Page Business Plan

The one-page business plan by the $100 startup is a simple business plan template for entrepreneurs who do not want to create a long and complicated plan . You can include more details in the appendices for funders who want more information beyond what you can put in the one-page business plan.

There are five sections in the one-page business plan such as overview, ka-ching, hustling, success, and obstacles or challenges or open questions. You can answer all the questions using one or two sentences.

9. PandaDoc’s Free Business Plan Template

The free business plan template by PandaDoc is a comprehensive 15-page document that describes the information you should include in every section.

There are 11 sections in PandaDoc’s free business plan template.

Executive summary
Business description
Products and services
Operations plan
Management organization
Financial plan
Conclusion / Call to action
Confidentiality statement

You have to sign up for its 14-day free trial to access the template. You will find different business plan templates on PandaDoc once you sign up (including templates for general businesses and specific businesses such as bakeries, startups, restaurants, salons, hotels, and coffee shops)

PandaDoc allows you to customize its business plan templates to fit the needs of your business. After editing the template, you can send it to interested parties and track opens and views through PandaDoc.

10. Invoiceberry Templates for Word, Open Office, Excel, or PPT

InvoiceBerry is a U.K based online invoicing and tracking platform that offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats for freelancers and small businesses.

Before you can download the free business plan template, it will ask you to give it your email address. After you complete the little task, it will send the download link to your inbox for you to download. It also provides a business plan checklist in .xlsx file format that ensures you add the right information to the business plan.

Alternatives to the Traditional Business Plan

A business plan is very important in mapping out how one expects their business to grow over a set number of years, particularly when they need external investment in their business. However, many investors do not have the time to watch you present your business plan. It is a long and boring read.

Luckily, there are three alternatives to the traditional business plan (the Business Model Canvas, Lean Canvas, and Startup Pitch Deck). These alternatives are less laborious and easier and quicker to present to investors.

Business Model Canvas (BMC)

The business model canvas is a business tool used to present all the important components of setting up a business, such as customers, route to market, value proposition, and finance in a single sheet. It provides a very focused blueprint that defines your business initially which you can later expand on if needed.

The sheet is divided mainly into company, industry, and consumer models that are interconnected in how they find problems and proffer solutions.

Segments of the Business Model Canvas

The business model canvas was developed by founder Alexander Osterwalder to answer important business questions. It contains nine segments.

Key Partners: Who will be occupying important executive positions in your business? What do they bring to the table? Will there be a third party involved with the company?
Key Activities: What important activities will production entail? What activities will be carried out to ensure the smooth running of the company?
The Product’s Value Propositions: What does your product do? How will it be different from other products?
Customer Segments: What demography of consumers are you targeting? What are the habits of these consumers? Who are the MVPs of your target consumers?
Customer Relationships: How will the team support and work with its customer base? How do you intend to build and maintain trust with the customer?
Key Resources: What type of personnel and tools will be needed? What size of the budget will they need access to?
Channels: How do you plan to create awareness of your products? How do you intend to transport your product to the customer?
Cost Structure: What is the estimated cost of production? How much will distribution cost?
Revenue Streams: For what value are customers willing to pay? How do they prefer to pay for the product? Are there any external revenues attached apart from the main source? How do the revenue streams contribute to the overall revenue?

Lean Canvas

The lean canvas is a problem-oriented alternative to the standard business model canvas. It was proposed by Ash Maurya, creator of Lean Stack as a development of the business model generation. It uses a more problem-focused approach and it majorly targets entrepreneurs and startup businesses.

Lean Canvas uses the same 9 blocks concept as the business model canvas, however, they have been modified slightly to suit the needs and purpose of a small startup. The key partners, key activities, customer relationships, and key resources are replaced by new segments which are:

Problem: Simple and straightforward number of problems you have identified, ideally three.
Solution: The solutions to each problem.
Unfair Advantage: Something you possess that can't be easily bought or replicated.
Key Metrics: Important numbers that will tell how your business is doing.

Startup Pitch Deck

While the business model canvas compresses into a factual sheet, startup pitch decks expand flamboyantly.

Pitch decks, through slides, convey your business plan, often through graphs and images used to emphasize estimations and observations in your presentation. Entrepreneurs often use pitch decks to fully convince their target audience of their plans before discussing funding arrangements.

Considering the likelihood of it being used in a small time frame, a good startup pitch deck should ideally contain 20 slides or less to have enough time to answer questions from the audience.

Unlike the standard and lean business model canvases, a pitch deck doesn't have a set template on how to present your business plan but there are still important components to it. These components often mirror those of the business model canvas except that they are in slide form and contain more details.

Using Airbnb (one of the most successful start-ups in recent history) for reference, the important components of a good slide are listed below.

Cover/Introduction Slide: Here, you should include your company's name and mission statement. Your mission statement should be a very catchy tagline. Also, include personal information and contact details to provide an easy link for potential investors.
Problem Slide: This slide requires you to create a connection with the audience or the investor that you are pitching. For example in their pitch, Airbnb summarized the most important problems it would solve in three brief points – pricing of hotels, disconnection from city culture, and connection problems for local bookings.
Solution Slide: This slide includes your core value proposition. List simple and direct solutions to the problems you have mentioned
Customer Analysis: Here you will provide information on the customers you will be offering your service to. The identity of your customers plays an important part in fundraising as well as the long-run viability of the business.
Market Validation: Use competitive analysis to show numbers that prove the presence of a market for your product, industry behavior in the present and the long run, as well as the percentage of the market you aim to attract. It shows that you understand your competitors and customers and convinces investors of the opportunities presented in the market.
Business Model: Your business model is the hook of your presentation. It may vary in complexity but it should generally include a pricing system informed by your market analysis. The goal of the slide is to confirm your business model is easy to implement.
Marketing Strategy: This slide should summarize a few customer acquisition methods that you plan to use to grow the business.
Competitive Advantage: What this slide will do is provide information on what will set you apart and make you a more attractive option to customers. It could be the possession of technology that is not widely known in the market.
Team Slide: Here you will give a brief description of your team. Include your key management personnel here and their specific roles in the company. Include their educational background, job history, and skillsets. Also, talk about their accomplishments in their careers so far to build investors' confidence in members of your team.
Traction Slide: This validates the company’s business model by showing growth through early sales and support. The slide aims to reduce any lingering fears in potential investors by showing realistic periodic milestones and profit margins. It can include current sales, growth, valuable customers, pre-orders, or data from surveys outlining current consumer interest.
Funding Slide: This slide is popularly referred to as ‘the ask'. Here you will include important details like how much is needed to get your business off the ground and how the funding will be spent to help the company reach its goals.
Appendix Slides: Your pitch deck appendix should always be included alongside a standard pitch presentation. It consists of additional slides you could not show in the pitch deck but you need to complement your presentation.

It is important to support your calculations with pictorial renditions. Infographics, such as pie charts or bar graphs, will be more effective in presenting the information than just listing numbers. For example, a six-month graph that shows rising profit margins will easily look more impressive than merely writing it.

Lastly, since a pitch deck is primarily used to secure meetings and you may be sharing your pitch with several investors, it is advisable to keep a separate public version that doesn't include financials. Only disclose the one with projections once you have secured a link with an investor.

Advantages of the Business Model Canvas, Lean Canvas, and Startup Pitch Deck over the Traditional Business Plan

Time-Saving: Writing a detailed traditional business plan could take weeks or months. On the other hand, all three alternatives can be done in a few days or even one night of brainstorming if you have a comprehensive understanding of your business.
Easier to Understand: Since the information presented is almost entirely factual, it puts focus on what is most important in running the business. They cut away the excess pages of fillers in a traditional business plan and allow investors to see what is driving the business and what is getting in the way.
Easy to Update: Businesses typically present their business plans to many potential investors before they secure funding. What this means is that you may regularly have to amend your presentation to update statistics or adjust to audience-specific needs. For a traditional business plan, this could mean rewriting a whole section of your plan. For the three alternatives, updating is much easier because they are not voluminous.
Guide for a More In-depth Business Plan: All three alternatives have the added benefit of being able to double as a sketch of your business plan if the need to create one arises in the future.

Business Plan FAQ

Business plans are important for any entrepreneur who is looking for a framework to run their company over some time or seeking external support. Although they are essential for new businesses, every company should ideally have a business plan to track their growth from time to time. They can be used by startups seeking investments or loans to convey their business ideas or an employee to convince his boss of the feasibility of starting a new project. They can also be used by companies seeking to recruit high-profile employee targets into key positions or trying to secure partnerships with other firms.

Business plans often vary depending on your target audience, the scope, and the goals for the plan. Startup plans are the most common among the different types of business plans. A start-up plan is used by a new business to present all the necessary information to help get the business up and running. They are usually used by entrepreneurs who are seeking funding from investors or bank loans. The established company alternative to a start-up plan is a feasibility plan. A feasibility plan is often used by an established company looking for new business opportunities. They are used to show the upsides of creating a new product for a consumer base. Because the audience is usually company people, it requires less company analysis. The third type of business plan is the lean business plan. A lean business plan is a brief, straight-to-the-point breakdown of your ideas and analysis for your business. It does not contain details of your proposal and can be written on one page. Finally, you have the what-if plan. As it implies, a what-if plan is a preparation for the worst-case scenario. You must always be prepared for the possibility of your original plan being rejected. A good what-if plan will serve as a good plan B to the original.

A good business plan has 10 key components. They include an executive plan, product analysis, desired customer base, company analysis, industry analysis, marketing strategy, sales strategy, financial projection, funding, and appendix. Executive Plan Your business should begin with your executive plan. An executive plan will provide early insight into what you are planning to achieve with your business. It should include your mission statement and highlight some of the important points which you will explain later. Product Analysis The next component of your business plan is your product analysis. A key part of this section is explaining the type of item or service you are going to offer as well as the market problems your product will solve. Desired Consumer Base Your product analysis should be supplemented with a detailed breakdown of your desired consumer base. Investors are always interested in knowing the economic power of your market as well as potential MVP customers. Company Analysis The next component of your business plan is your company analysis. Here, you explain how you want to run your business. It will include your operational strategy, an insight into the workforce needed to keep the company running, and important executive positions. It will also provide a calculation of expected operational costs. Industry Analysis A good business plan should also contain well laid out industry analysis. It is important to convince potential investors you know the companies you will be competing with, as well as your plans to gain an edge on the competition. Marketing Strategy Your business plan should also include your marketing strategy. This is how you intend to spread awareness of your product. It should include a detailed explanation of the company brand as well as your advertising methods. Sales Strategy Your sales strategy comes after the market strategy. Here you give an overview of your company's pricing strategy and how you aim to maximize profits. You can also explain how your prices will adapt to market behaviors. Financial Projection The financial projection is the next component of your business plan. It explains your company's expected running cost and revenue earned during the tenure of the business plan. Financial projection gives a clear idea of how your company will develop in the future. Funding The next component of your business plan is funding. You have to detail how much external investment you need to get your business idea off the ground here. Appendix The last component of your plan is the appendix. This is where you put licenses, graphs, or key information that does not fit in any of the other components.

The business model canvas is a business management tool used to quickly define your business idea and model. It is often used when investors need you to pitch your business idea during a brief window.

A pitch deck is similar to a business model canvas except that it makes use of slides in its presentation. A pitch is not primarily used to secure funding, rather its main purpose is to entice potential investors by selling a very optimistic outlook on the business.

Business plan competitions help you evaluate the strength of your business plan. By participating in business plan competitions, you are improving your experience. The experience provides you with a degree of validation while practicing important skills. The main motivation for entering into the competitions is often to secure funding by finishing in podium positions. There is also the chance that you may catch the eye of a casual observer outside of the competition. These competitions also provide good networking opportunities. You could meet mentors who will take a keen interest in guiding you in your business journey. You also have the opportunity to meet other entrepreneurs whose ideas can complement yours.

Exlore Further

12 Key Elements of a Business Plan (Top Components Explained)
13 Sources of Business Finance For Companies & Sole Traders
5 Common Types of Business Structures (+ Pros & Cons)
How to Buy a Business in 8 Steps (+ Due Diligence Checklist)

Was This Article Helpful?

Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

Your AI co-pilot for video creation

People invideo

Want to know more.

Filmora for Mobile

Easy-to-Use Video Editing App

Video Editor >
Mac Video Editor >
Video Editor for iOS >
Video Editor for Android >
Video Editor for iPad >
Screen Recorder >
Green Screen >
Color Match >
Auto Reframe >
Silence Detection >
Auto Beat Sync >
Audio Ducking >
Sync Audio >
Add Texts >
Title Editing >
Batch Edit Texts >
Text Animation NEW
Video Effects >
Plug-Ins >
LUTs >
Glitch Effects >
3D Texts >
15M+ Creative Assets >
AI Smart Masking >
AI Portrait Cutout >
AI Smart Cutout >
AI Video Object Remover NEW
AI Audio Denoise NEW
AI Audio Strech >
AI Vocal Remover >
Voice Changer NEW
Music Beats Text Animation NEW
AI Speech To Text >
AI Text Based Editing >
AI Text to Video >
AI Thumbnail Creator >
AI Image >
AI Sticker Generator NEW
AI Text to Speech >
AI Music Generator >
Voice Cloning NEW
AI Translation >
AI Copywriting >
Auto Captions NEW
Video Resume >
Product Video >
Presentation Video >
Commercial Video >
Slideshow Video Maker >
YouTube Video Editor >
YouTube Monetization >
Tiktok Ads >
Intro Maker >
Promotion Video >
Explainer Video >

Video Trends

Master class, content hub, marketing calendar, creator hub, diy special effects.

Creative Garage >
Creator Spotlight >
Get Certified >
Achievement Program >
Refer a Friend Program >
Trendbook >
Video Events >
Guide To Craft Your Virtual Avatars >
Remove Filmora Watermark Solved >
How To Change Aspect Ratio >
Tips To Rip Audio From YouTube >
Insights on AI-generated Videos >
How To Use ChatGPT Generating Videos >

FAQs >

Guide & tutorials >, tech specs >, what's new >, version history >, reviews >, customer stories, affiliate program.

Download Download Download Pricing Pricing Pricing

Filmora Business Plan

Your data privacy and security are a top concern for us.

Protecting our customers' information is our number 1 priority. We believe privacy is a fundamental human right and you have the right to see how your data is stored. We are committed to maintaining strong protections for our customers. We promise to be trustworthy, transparent and accountable.

Support when you need it from people who care.

We care about our customers and your problems are our concern. We promise to provide you with support whenever you needed from our helpful and enthusiastic staff. Our team members will be more than happy to provide the support that you need and additional support.

Frequently asked questions

Absolutely. To use Filmora for company use, choose the Business Plan.

Company use includes any use by a business both internal (i.e. training, presentations, and internal communication) and external (i.e. marketing, promotions, and advertising). This also includes videos that are the product or service being offered (i.e. editing videos for paying clients).

If you do not make videos on behalf of a brand or business entity, then you can choose one of the Individual Plans. However, if you have an Individual Plan and make a commercial video (i.e. a video including paid product placement) then you will need to state in your video's description that it was made with Filmora.

If your YouTube channel is for a company or brand, you should purchase the Business Plan. If it’s not, you can choose one of the Individual Plans.

The more licenses you buy, the greater the discount. For five licenses or more, our team will give you a bespoke discount.

Multi-User Control is the ability to manage your licenses across multiple devices from one account at Filmora's user center.

The music and sound effects in Filmora can’t be used by a company (externally and internally). However, if you subscribe to Filmstock, you can get access to thousands of music and sounds effects which can be used for commercial purposes.

SOFTWARE CATEGORIES
FOR REMOTE WORK
Video Editing Software

Filmora Pricing in 2024: What’s Included in the Plans?

Traditionally, video editing software solutions have been quite pricey. Today, however, as technology became more democratized, both video hardware and software have become more accessible. Of course, there are really the go-to software tools for professionals and large studios. These come packed with highly-advanced features but at a high price. However, for SMEs and personal use, there are a variety of video editing solutions that are quite advanced but without the hefty price tag. Filmora is one of them.

If you have your eyes on this particular software and are wondering about the Filmora pricing plans, you have come to the right place. In this article, we will lay down its available plans, the features included, and the pricing. In this way, you can pick which one fits your needs—be it creative, personal, business, or a mix of all three.

Filmora Pricing Plans and Features

Overview of filmora, individual plans.

The Business Plan
Educational Offerings

Video is a powerful medium to share stories, ideas, and feelings. The power is quite intuitive as it engages two of our five basic senses. However, there is more to this. As Norman N. Holland, a literary critic, pointed out, we get so interested in movies that we enter what psychologists call a state of flow . We get into videos so much that we lose track of our environment and bodies. We are so involved that we let the movies take control. Because, in fact, we can’t do anything else about what happens in them. We are just in for the ride.

Video then, as a medium, is quite disarming. Engaging our emotions through our two senses, videos can invoke action. And this is basically the belief that grounds the whole advertising industry. Let videos guide consumer preferences and actions.

No wonder recent video marketing statistics show that video ad spending is poised to reach $37.4 billion by the end of 2021. This is a 12.5% increase from the prior year. The medium is so engaging that experts predict that by 2022, video downloads and streaming will account for 82% of internet traffic worldwide.

In the United States, video ad spending has reached a whopping $9.95 billion in 2020 . And, this is the highest among all countries. China follows at a far second at $5.64 billion. And, the number is likely to grow.

So, whether you are in the market for video editing software for education, creative, or business pursuits, know that getting good at it can be a highly fruitful endeavor. Video, in the most optimistic view, may very well be on its way to completely overtake writing as the main medium for generational knowledge transfer. So, as a student, businessman, or educator, you don’t really want to lag behind.

Filmora is an easy-to-use video editing software from Wondershare. Lately, it has been gaining popularity because of its great mix of being powerful yet very simple to use. Like top video editing software, it offers a multi-track timeline where you can splice videos, separate audio, create advanced text, and apply video effects. Simply put, what you can do with other products, you can more or less do the same with Filmora.

Advanced features include chroma key for green/blue screen productions, keyframe animations, motion tracking, video stabilization, and scene detection among others. Moreover, it also has the video editing software staples like modules for color correction, preview rendering, and auto-ripple. Also, it has a good media library and a pre-built effects rack.

The current version is Filmora X. It has quite the improvement from its previous iteration like the addition of keyframe animations and other stock footage. The product is an on-premise software, and it is available to both Windows and Mac users. Here are its system requirements.

Supported OS: Windows 7, Windows 8.1, and Windows 10 ( 64 bit OS only)
CPU: Intel i5 or higher, 2GHz+ (Intel 6th Gen or newer is recommended)
RAM: 4GB RAM (8GB RAM is required for HD and 4K projects)
GPU: Intel HD Graphics 500 or newer; NVIDIA GeForce GTX 800 or newer; AMD Radeon R5 or newer
Disk: 10GB of free HD space (SSD is recommended)
Supported OS: macOS v10.12 or newer (also compatible with macOS Big Sur)
CPU: Intel i5 or higher, 2GHz+ (Intel 6th Gen or newer is recommended; it is also compatible with Apple M1 chip)
RAM: 8GB RAM (16GB RAM is required for HD and 4K projects)
GPU: Intel HD Graphics 5000 or newer; AMD Radeon R5 or newer; 2GB vRAM (4GB is required for HD and 4K projects)
Disk: at least 10GB of free HD space (SSD is recommended)

Filmora’s interface is also customizable. In fact, you can choose between light or dark modes. Also, the software allows you to create your own keyboard shortcut configurations as well. Moreover, there is also FilmoraGo for tablets and mobile devices.

The low-down on Filmora is that it is quite an able solution. It rivals the quality and power of top video editing software solutions, yet is offered at very affordable pricing plans. Of course, it does not have the same range of features like media production suites with photo editing and advanced animation software tied together. However, many consider this as a steal.

Also, Wondershare offers a professional version of the software called FilmoraPro.

Detailed Filmora Review

Key Features of Filmora

Multi-track Timeline
Keyframe Animations
Motion Tracking
Video Stabilization
Color Correction
Preview Rendering
Auto-Ripple
Scene Detection
Audio Mixer
Media Library and Effects
Keyboard Shortcuts Configuration
Tablet and Mobile Version

Adding lightning magic effects on Filmora

Filmora offers full access to its software to individuals via different pricing plans. All of these plans include all Filmora’s basic features. But there are other advanced features that are available as in-app purchases. These include Silence Detection and Filmstock downloads. For the most part, however, these plans only differ in how much and how frequently you want to pay.

Moreover, payment plans are different for Windows and Mac. Without further ado, here are the different Filmora pricing plans for individuals available today.

Annual Plan – $39.99

For people who are sure to be using video editing software for a longer period of time, the annual plan is perfect for them. This is especially so when they are already used to Filmora’s interface and features. This is ideal for general use. Also, it is highly recommended for students, content creators, and those who are getting into video editing like educators creating materials for distance learning.

What’s great about this plan is that it gets renewed and you get the latest Filmora version whenever there is an update. If you have $40 lying around and you want to get into video editing, this plan is right for you.

Perpetual Plan – $69.99

This is the one-time payment plan for Filmora X. Just $69.99, not even twice the amount for the annual plan, and you get an official license forever. But, newer Filmora versions are not available through this plan.

Furthermore, the Perpetual Plan does not only include the software. It provides other perks like one-month unlimited downloads from the Filmstock Standard Libary. We will discuss more of this in the next section.

Moreover, the software provider hands out new effects every month. However, just like other individual plans, other advanced features like Silence Detection are only available via in-app purchases. This plan is perfect for seasoned Filmora users.

Annual Plan – $44.99

For Mac users, the lowest tier is its annual plan at $44.99. This includes all Filmora features and does away with the watermark in the free trial version. Moreover, it provides free year-long Filmora updates. This also includes free tech support. The plan automatically renews and users can cancel anytime.

The lifetime plan for Filmora X is $69.99. It too provides one-month free access to Filmstock Standard subscription. Moreover, this plan affords users access to new effects every month. Just like the annual plan, it includes all Filmora features and free tech support.

Annual Bundle Plan – $104.87

This annual bundle plan includes one year of all Filmora and Filmstock updates. Moreover, it also includes one-year unlimited downloads from the Filmstock Standard Library. Just like other plans, it provides access to all Filmora features and to new effects every month. Of course, this premium plan also has free tech support included.

What’s included in the individual plans?

All Filmora Features
Free Tech Support
Get Latest Updates
No Watermarks
Access to In-App Purchases

The Business Plan – $155.88

The motion tracking feature of Filmora X

As recent advertising statistics show, video ads are clicked 73% more often than banners. This is why it is important for businesses to invest in video advertising. And, getting video editing software is a step towards that—especially when you want to produce your ads in-house. But there are also other uses than advertising.

Filmora defines company-use as using the product in creating videos for both internal and external business materials. These include internal communication and training and advertising materials. Moreover, it includes videos that are services or products being offered by the company like editing videos for their clients.

Filmora’s Business Plan costs $155.88 annually for one user. For five users, it costs a company $701.40 per year. For a running business, this is not a bad deal. Its includes all Filmora’s editing features with special permission for company use. Moreover, it comes with a multi-user control feature. This allows you to have control over licenses across multiple devices.

This plan is also somewhat flexible. Flexible payment options and volume discounts are also available. This is when you want to have more than five users. Furthermore, with this plan, you will get a 1-1 sales report so you can keep track of your productivity.

Filmstock Subscriptions

What’s great about Filmora is that it offers royalty-free effects, videos, images, and music. Wondershare offers this via three kinds of plans: Free, Standard, and Premium.

This free plan allows for unlimited downloads from the Filmstock Free Library. Wondershare updates the Free Library every month. This means you get access to more and more free content as time goes by. You can use these media for b-rolls, long shots, and to spruce your video up with sound effects and bed music. And, these are available for commercial use.

Standard Plan

The Standard plan allows you access to the Filmstock Standard Library. The content here is updated every week. You get more stock videos, music, and effects that you can use to set your videos further apart. Wondershare offers these with a royalty-free license and these are available for commercial use. This means you can use it for blog posts, broadcast media, advertising, commercial films, and even design elements.

The Standard plan only costs $9.99 a month, $23.99 quarterly, and $95.90 annually. Moreover, it comes with free technical support.

Premium Plan

This costs $34.99 per month, $89.97 quarterly, and $299.88 per year. It includes access to both the Free and Standard libraries as well as the Premium Library. This plan allows you to download 20 premium assets every month. They are also available for commercial use like for your ads or YouTube videos. This is really a boon when it comes to advertising or content creation. It’s because you get access to royalty-free content without having to shoot your own.

However, not all effect packs can be used by companies—and, there is a long list. The list includes BlockBuster Bullets Pack, Clouds Pack, Massive Explosion Pack, and Cinematic Light Pack, among many others. So, if you are not sure whether what you want is permissible, you can always contact Wondershare as this plan is offered with free technical support.

What’s included in the Business plan?

Permission for Company Use
No Filmora Attribution Required
Multi-User Control
Volume Discount
1-1 Sales Report
Flexible Payment Options

Educational Offerings – $7.99

Filmora used for editing a cooking tutorial

Student plans are offered at regular monthly and quarterly payment options. However, Wondershare offers a 20% and 30% discount for its Annual and Lifetime plans, respectively. The prices of the Annual and Lifetime plans vary for Windows and Mac platforms.

For Windows users, students can get the Filmora X for $31.99 instead of $39.99 for an Annual plan. As for the Lifetime plan, they can get it for $48.99 instead of $69.99. That’s a discount of $21.

Mac users, on the other hand, can have the Annual plan at $35.99, down 20% from $44.99. The Lifetime plan is now $48.99, 30% down from the original $69.99.

Student Verification by Student Beans

In order to avail of these discounts, you need to be verified as a student. The verification is supported by Student Beans, the popular Student Loyalty Network. So, before purchasing a student plan, one must log in to the platform and follow the registration instructions. It is that simple.

The student discount, however, is linked to your Wondershare account. It cannot be sold or transferred. Of course, all licenses purchased are for individual use only.

For Teachers

For teachers, whether they are university lecturers or grade school teachers, Wondershare likewise provides discounts. The plan, however, is quote-based as it is tailored to their needs and preferences.

Moreover, Wondershare also has a more simplified product tailored for educational purposes. It’s called the Wondershare DemoCreator . With this, you can capture video demos, presentations, games, and tutorials. Then, you can edit your clips and make them more presentable to your students.

With screen and camera capture, you can easily create course materials for blended and flipped learning setups. This is also great for gamers. The software allows you to add reviews and narrations of your gaming experience. What’s more, it also provides tools for annotation and captions. These include overlays, arrows, and banners, among many.

What’s included in the Educational plans?

Student and Educator Discounts

Try Filmora for Free

The best way to really know if Filmora is right for you is to test it out using its free trial. In this way, you can access all the premium features and see whether the software fits your needs. Of course, you should also consider your budget. So, you better use the Filmora pricing plans guide we have prepared here.

Once you have gone through the free trial version, you can then decide whether you want to further try the paid version and for how long. Consider signing up for the annual plan or the lifetime plan if you feel Filmora fits your needs.

However, there is quite a difference between the two. Annual plans get automatically renewed and you get the newest version of Filmora. As for Lifetime plans, you only get a perpetual license of the current version of Filmora, which is Filmora X. This, here, is the decision especially when you have budget restrictions.

Other than that, Filmora is really a great video editing tool with lots of advanced features housed in a very intuitive interface. It can help you create stunning videos, thanks to its pre-built effects and extended media library. Of course, if you want more features, you can also upgrade to FilmoraPro.

Filmora might not be the go-to video editing software yet. But, with constant development, it is likely going to eat up a larger chunk of the market in the future. If you want no-nonsense video editing, Filmora is really a great choice.

However, if you want something more basic, you can check out these free video editing software solutions.

Key Insights

Affordable Pricing Plans : Filmora offers a range of affordable pricing plans for individuals, businesses, and educational users. Individual plans start at $39.99 per year for Windows users and $44.99 per year for Mac users, with perpetual plans available for $69.99.
Educational Discounts : Students and educators can benefit from significant discounts, with student annual plans starting at $31.99 for Windows users and $35.99 for Mac users. Educators can also access tailored quote-based plans.
Comprehensive Features : Filmora includes a wide array of video editing features such as multi-track timeline, keyframe animations, motion tracking, video stabilization, and color correction. Advanced features like chroma key and scene detection are also available.
User-Friendly Interface : The software is designed to be easy to use, with customizable interface options including light and dark modes and the ability to create custom keyboard shortcuts.
Business Capabilities : The business plan, priced at $155.88 per year for one user, includes special permissions for company use, multi-user control, volume discounts, and a 1-1 sales report feature.
Filmstock Subscriptions : Filmora provides access to royalty-free effects, videos, images, and music through Filmstock subscriptions. Plans range from free to $299.88 per year for the premium plan, which includes access to the extensive Filmstock library.
Mobile and Tablet Versions : FilmoraGo offers video editing capabilities for tablets and mobile devices, extending the software’s usability across different platforms.
Free Trial Available : Users can test Filmora’s features through a free trial, allowing them to decide whether the software meets their needs before committing to a paid plan.
How much does Filmora cost? Filmora costs $7.99 per month for individual users and $155.88 per year for businesses with one user. Educational discounts are also available, allowing students to save up to 28%.
What are the system requirements for Filmora on Windows? Filmora requires Windows 7, Windows 8.1, or Windows 10 (64-bit OS only). The CPU should be Intel i5 or higher, 2GHz+ (Intel 6th Gen or newer recommended). RAM requirements are 4GB (8GB for HD and 4K projects). The GPU should be Intel HD Graphics 500 or newer, NVIDIA GeForce GTX 800 or newer, or AMD Radeon R5 or newer. At least 10GB of free HD space (SSD recommended) is needed.
Can Mac users access Filmora, and what are the system requirements? Yes, Filmora is available for Mac users. It requires macOS v10.12 or newer and is compatible with macOS Big Sur and Apple M1 chip. The CPU should be Intel i5 or higher, 2GHz+ (Intel 6th Gen or newer recommended). RAM requirements are 8GB (16GB for HD and 4K projects). The GPU should be Intel HD Graphics 5000 or newer, AMD Radeon R5 or newer, with 2GB vRAM (4GB for HD and 4K projects). At least 10GB of free HD space (SSD recommended) is needed.
What features are included in Filmora’s individual plans? Individual plans include all Filmora features, free tech support, access to the latest updates, no watermarks, and the ability to make in-app purchases for additional advanced features like Silence Detection and Filmstock downloads.
What is FilmoraPro and how does it differ from Filmora? FilmoraPro is a professional version of Filmora offering more advanced features for video editing. It includes additional tools and capabilities suitable for professional use, whereas Filmora is designed to be user-friendly and accessible for personal and small business use.
Are there any free alternatives to Filmora for video editing? Yes, there are free video editing software solutions available that might be suitable for more basic editing needs. Users can explore these options if they require fewer features or have budget constraints.

By Louie Andre

B2B & SaaS market analyst and senior writer for FinancesOnline. He is most interested in project management solutions, believing all businesses are a work in progress. From pitch deck to exit strategy, he is no stranger to project business hiccups and essentials. He has been involved in a few internet startups including a digital route planner for a triple A affiliate. His advice to vendors and users alike? "Think of benefits, not features."

Why is FinancesOnline free?

FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. Please note, that FinancesOnline lists all vendors, we’re not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions.

EU Office: Grojecka 70/13 Warsaw, 02-359 Poland

US Office: 120 St James Ave Floor 6, Boston, MA 02116

Add Your Product
Research Center
Research Team
Terms of Use
Privacy Policy
Cookies Policy
Scoring Methodology
Do not sell my personal information
Write For Us
For Small Business
Top Software
Software reviews
Software comparisons
Software alternatives

Watch the live stream of Fox News and full episodes.

Reduce eye strain and focus on the content that matters.

Kamala Harris' price control plan will stifle growth: Jon Taffer

'Bar Rescue' host Jon Taffer reacts to Kamala Harris' plan to lower food costs on 'Cavuto: Coast to Coast.'

Copy to clipboard Copy to clipboard
WHAT TO WATCH

Election 2024
Entertainment
Newsletters
Photography
AP Buyline Personal Finance
AP Buyline Shopping
Press Releases
Israel-Hamas War
Russia-Ukraine War
Global elections
Asia Pacific
Latin America
Middle East
Delegate Tracker
AP & Elections
2024 Paris Olympic Games
Auto Racing
Movie reviews
Book reviews
Financial Markets
Business Highlights
Financial wellness
Artificial Intelligence
Social Media

Harris has offered a string of new economic proposals. Here’s a closer look at what’s in them

Copy Link copied

WASHINGTON (AP) — Vice President Kamala Harris is out with a string of new economic proposals focused on food prices, taxes, housing and medical costs that she says will empower the middle class.

The plans constitute the first major policy proposals that Harris has released in the nearly four weeks since President Joe Biden bowed out of the race and endorsed his vice president.

A look at what Harris is proposing:

Food prices

After years of polling showing that Americans are worried about inflation, Harris is aiming to contain prices where they have often been most conspicuously felt — at the grocery store. She’s promising to, during her first 100 days in office, send Congress proposed federal limits on price increases for food producers and grocers. Harris also is seeking new authority for the Federal Trade Commission and attorneys general in states across the country to enact steeper punishments for violators. She also wants to use government regulators to crack down on mergers and acquisitions among large food industry businesses that the vice president argues have contributed to higher prices.

Harris is calling for the construction of 3 million new housing units over four years, which she says will ease a “serious housing shortage in America.” She also plans to promote legislation creating a new series of tax incentives for builders who construct “starter” homes sold to first-time homebuyers.

She also wants a $40 billion innovation fund — doubling a similar pot of money created by the Biden administration — for businesses building affordable rental housing units. Harris also wants to speed up permitting and review processes to get housing stock to the market more quickly.

Harris further says she can lower rental costs by limiting investors who buy up homes in bulk, as well as curbing the use of price-setting tools that she argues encourage collusion to increase profits among landlords. She also wants to expand a Biden administration plan providing $25,000 in potential down payment assistance to help some renters buy a home, so that it will include a much larger swath of first-time home buyers across the country.

The vice president also has endorsed repurposing some federal land to make room for new affordable housing, an idea that Biden endorsed while still running for president and that Trump has also spoken about favorably.

Taxes and medical costs

Harris wants to speed up a Biden administration effort that has allowed Medicare and other federal programs to negotiate with drugmakers to lower the cost of prescription medications, aiming to cut the price tags of some of the most expensive and most commonly used drugs by roughly 40% to 80% starting in 2026. She’s also promised to promote competition with steps to increase transparency within pharmaceutical company pricing practices.

Harris also pledged to work with state entities to cancel $7 billion of medical debt for up to 3 million qualifying Americans.

The vice president also proposed to make permanent a $3,600 per child tax credit approved through 2025 for eligible families, while offering a new $6,000 tax credit for those with newborn children. She says a Harris administration would work to expand the Earned Income Tax Credit to cut taxes for some frontline workers by up to $1,500 and reduce taxes on healthcare plans offered on the marketplace created by the Affordable Care Act .

Watch CBS News

How to plan properly for financial costs during retirement

IMAGES

How to Write a Business Plan in 9 Steps
Calculate Your Business Plan Costs: Free Online Tool
Comparison Table. Business Plan Pricing Grid and Chart. Web Banner of
Cost Structure in a Business Plan
How to Estimate Realistic Business Startup Costs
ProjectManagement.com

COMMENTS

A Guide to Starting a Video Production Company
How much does it cost to start a video production business? Startup costs for a video production company range from $4,500 to $10,000. The largest expense is the necessary equipment. ... Step 4: Create a Video Production Business Plan. Here are the key components of a business plan:
Plans & Pricing for Zoom Workplace
Zoom is the leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, chat, and webinars across mobile, desktop, and room systems. Zoom Rooms is the original software-based conference room solution used around the world in board, conference, huddle, and training rooms, as well as executive offices and classrooms. Founded in 2011 ...
Free Video Production Company Business Plan [Template]
We provide a free business plan template below and will walk you through it. Step by step. Production Company Business Plan. The Executive Summary. Perform a Video Company Self Assessment. How to Get Started. Financing a Video Production Company. Marketing Plan. Day to Day Operations.
Video Production Business Plan Example
Explore a real-world video production business plan example and download a free template with this information to start writing your own business plan. ... and an estimation of other running costs. Variable costs mostly include video tapes. The chart and table below show our break-even point. Break-even Analysis: Monthly Revenue Break-even ...
The Ultimate Guide to Video Marketing
And 68% of marketers who aren't using video plan to build a video strategy in 2024. There's no strategy like video marketing for educating, generating leads, and converting customers. And video production is more cost-effective and easier to accomplish than ever. Today you can shoot in high-quality, 4K video — even with your smartphone.
Loom Pricing
Communicate more effectively with video messaging for work. Individuals and teams can get started for free on our Starter plan. ... Yes, you can try our Business plan free for 14 days. ... The Loom AI suite costs $4 creator/month (billed annually) or $5 creator/month (billed monthly) for the number of seats in your workspace. Every creator or ...
Vimeo Enterprise Video Platform for Businesses & Brands
An enterprise video platform is a group of technologies for creating, managing, and delivering video communications across your organization — and beyond. Our all-in-one solution makes it easy to engage your teams and customers with professional live streaming tools, a brandable video library, enterprise-grade security, and much more.
How Much Does Video Hosting Cost? (2024 Price Comparison)
The Standard plan, which costs $25 per user per month and supports 120 videos. The Advanced plan, which costs $65 per user per month and supports 240 videos. ... The Business plan includes all Pro features, plus full analytics, CRM and MAP integrations, and fully customizable video calls-to-action. Pricing is based on each specific business.
Compare Vimeo plans
Compare Vimeo plans. Different Vimeo plans you can purchase are Starter, Standard, and Advanced. In addition to these out-of-the-box plans, Vimeo offers an Enterprise plan for large teams to collaborate and communicate with video. We also provide an OTT subscription platform for creators looking to sell access to their content.
Video Marketing in 2024: The Ultimate Guide
Here are a few quick video marketing statistics to give you an idea of the current state of video marketing: 85% of businesses are using video in their marketing strategies. 92% of marketers say video is important in their strategies. 46% of marketers say video marketing has become much more affordable. 70% of brands are creating more videos ...
Dropbox for business: Compare plans
Explore the features and pricing of different Dropbox business plans. Compare Professional plans for individuals and Standard or Advanced team plans. ... Plan name. Essentials. Business. Business Plus. Plan description. Price. $16.58 / month. $15 / user / month. ... 4K video quality, and advanced video editing. Unlimited recording time, 4K ...
Compare Flexible Pricing Plan Options
Business Starter, Business Standard, and Business Plus plans can be purchased for a maximum of 300 users. There is no minimum or maximum user limit for Enterprise plans. Google Workspace customers may have access to additional features for a limited promotional period. Google Workspace provides flexible pooled storage per user that is shared ...
How Much Does a Business Plan Cost?
Conclusion. The cost of writing a b usiness plan is dependent on the purpose, type, and length of the business plan. The amount of time it takes to complete a business plan, the language used, and who will be using the document also play a factor in the cost.You can find templates for a one-time fee or pay by the page, hire a business plan writing service or a business plan writer, contact a ...
Compare All Microsoft 365 Plans
Everything in Business Basic, plus: Desktop versions of Word, Excel, PowerPoint, and Outlook. Webinars with attendee registration and reporting. Collaborative workspaces to co-create using Microsoft Loop. Video editing and design tools with Microsoft Clipchamp. Copilot for Microsoft 365, available as an add-on 3.
Compare Pricing and Plans for Online Business Options
What is the right plan for my business? Teams Essentials is designed for a small business in need of an affordable, professional, easy-to-use meeting solution with video and audio calling. Meet all day up to 30 hours, host up to 300 participants, and get 10 GB of cloud storage with Teams Essentials.
Write your business plan
A good business plan guides you through each stage of starting and managing your business. You'll use your business plan as a roadmap for how to structure, run, and grow your new business. It's a way to think through the key elements of your business. Business plans can help you get funding or bring on new business partners.
Pricing
The Free plan is designed for teams just starting out with visual collaboration: you can invite as many team members and create as many boards as you want, but only 3 boards will be active and editable at once. For more advanced collaboration functionality, check out our Starter, Business or Enterprise plans.
Calculate your startup costs
10 steps to start your business. Plan your business. Market research and competitive analysis. Write your business plan. Calculate your startup costs. Establish business credit. Fund your business. Buy an existing business or franchise. Launch your business.
How much does a business plan cost?
However, you must understand that a minimum of 20 hours is usually required to create a business plan. So, if your business plan writer charges $100 per hour and works for 20 hours, you'll pay $2,000 for the document. If they charge $300 per hour, you'll pay $6,000. However, these are just for simple business plans.
Compare Microsoft 365 Business Plans and Pricing
Web and mobile versions of Word, Excel, PowerPoint, and Outlook. Chat, call, and video conference with Microsoft Teams. 1 TB of cloud storage per employee. 10+ additional apps for your business needs (Microsoft Bookings, Planner, Forms, and others) Automatic spam and malware filtering. Anytime phone and web support.
How to Write a Business Plan in 9 Steps (+ Template and Examples)
1. Create Your Executive Summary. The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans. Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.
Turn ideas into videos
10 mins/wk of AI generation. iStock. 10 GB storage. 4 exports/wk with invideo logo. 2.5M+ standard media. voice clones. Plus. For creators starting their journey. $ 20.
Compare video editing tool plans and pricing
All Apps. US$59.99/mo. Get the entire collection of creative apps and services for video, audio, images, graphics, layouts, photography, and more. Buy now. Learn more. Great for. Premiere Rush for desktop and mobile with access to all premium features and content. Premium access to Adobe Express and Photoshop Express. Premiere Pro for desktop.
Buy Wondershare Filmora Video Editor Business Plan Online [for Win]
Permission for Company Use. No Attribution Required. Multi-User Control. Volume Discount. 1-1 Sales Report. Flexible Payment Options. Request A Quote. Please fill out this form if you want to purchase business plan for more than 5 users. Thank you for contacting us.
Filmora Pricing in 2024: What's Included in the Plans?
These include internal communication and training and advertising materials. Moreover, it includes videos that are services or products being offered by the company like editing videos for their clients. Filmora's Business Plan costs $155.88 annually for one user. For five users, it costs a company $701.40 per year.
Kamala Harris' price control plan will stifle growth: Jon Taffer
'Bar Rescue' host Jon Taffer reacts to Kamala Harris' plan to lower food costs on 'Cavuto: Coast to Coast.'
CNN Business Videos
The plan, which builds on proposals that President Joe Biden has already announced, promises: Up to $25,000 in down-payment support for first-time homebuyers. To provide a $10,000 tax credit for ...
Azure Pricing Overview
Enjoy transparent pricing with no upfront costs, and only pay for the resources you use. ... Continually improve your workloads while managing cloud costs so you can refocus your cloud investments toward top business priorities. Identify cost efficiencies with Copilot in Microsoft Cost Management, FinOps best practices, and Azure Advisor ...
Harris' economic proposals take aim at consumer costs
WASHINGTON (AP) — Vice President Kamala Harris is out with a string of new economic proposals focused on food prices, taxes, housing and medical costs that she says will empower the middle class.. The plans constitute the first major policy proposals that Harris has released in the nearly four weeks since President Joe Biden bowed out of the race and endorsed his vice president.
How to plan properly for financial costs during retirement
How to plan properly for financial costs during retirement CBS News New York Business Analyst Jill Schlesinger shares tips on how to make the most out of your retirement finances. ©2024 CBS ...

A Guide to Starting a Video Production Company

Step 1: Decide if the Business Is Right for You

Video production industry trends

Trends and challenges

Demand hotspots

What kind of people work in video production?

How much does it cost to start a video production business?

How much can you earn from a video production business?

What barriers to entry are there?

Related Business Ideas

A Step-By-Step Guide to Setting up a Film Production Company

Lights, Camera, Action: How to Open a Movie Theater

Movies Under the Stars: Starting a Drive-In Theater

Step 2: Hone Your Idea

Why? Identify an opportunity

What? Decide your video production niche and services

How much should you charge for video production?

Who? Identify your target market

Where? Choose your business premises

Step 3: Brainstorm a Video Production Company Name

Step 4: Create a Video Production Business Plan

Step 5: Register Your Business

Choose where to register your company

Choose your business structure

Form Your LLC

Step 6: Register for Taxes

Step 7: Fund your Business

Step 8: Apply for Business Licenses/Permits

Step 9: Open a Business Bank Account

Step 10: Get Business Insurance

Step 11: Prepare to Launch

Essential software and tools

Develop your website

Focus on USPs

Step 12: Build Your Team

Step 13: Run a Video Production Company – Start Making Money!

Leave a Reply Cancel reply

Subscribe to Our Newsletter

57 In-Demand Service Business Ideas You Can Launch Today

44 Exciting Entertainment Business Ideas to Start Today

15 Best Software Business Ideas for Startups & SMEs

Upcoming Meetings

How to Create a Production Company Business Plan [FREE Template]

Freebie: Business Plan Template for Video Production

business plan template

Think of creating a business plan you could bring to them

how to make a business plan

Think about your target market

how to create a business plan

You are not required to sing “Man in the Mirror”

P roduction company business plan would include a PEST

Business plan can benefit from SWOT

The 7 S model of analysis

Gentlemen, start your engines

START FEES YOU CAN AVOID

do have the capital?

Just pose like this and you’ll reassure any investor

What is a marketing plan?

INVEST IN A GOOD WEBSITE

what's your daily workflow?

Write a Business Plan

Up Next: Write a 4-Part Business Plan →

1.1 CHAPTER TITLE HERE...

Don't bother with copy and paste.

Video Production Business Plan

Michael's Video Service

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

2.1 Mission

3.1 Service Description

3.2 Technology

Strategy and Implementation Summary

4.1 Market Analysis Summary

4.1.1 Market Segmentation

4.1.2 Competition and Buying Patterns

4.1.3 Distribution Strategy

4.1.4 Service Business Analysis

4.1.4.1 Possible Barriers to Entry

4.1.5 Strategic Alliances

4.1.6 Value Proposition

4.2 Sales Forecast