A business growth plan is a strategic roadmap for how your company will expand over time. It outlines your goals, target metrics, market strategy, financial projections, and the resources you’ll need to scale, such as growing your customer base, launching new products, or expanding locations. In short, a business growth plan turns your big-picture vision into an actionable plan.
Every growing business needs one. A well-crafted growth plan keeps your team aligned, attracts potential investors, and helps you track progress along the way. In this guide, I’ll show you how to write a business growth plan step by step, plus share tips, tools, and a free business growth plan template to help you build one that actually drives results.
Free download: Business growth plan template
Ready to build your own growth strategy? Follow along as we go through each section of the plan below, or download our free business growth plan template.
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Building your business growth plan
A business growth plan is different from a traditional business plan. While a business plan outlines your entire company strategy, often used when starting a business, a growth plan focuses specifically on scaling an existing business. If you’re still in the early stages, check out our guide to different types of business plans.
To make this step-by-step guide even easier, I’ll walk through a sample plan for a hypothetical business: GreenSprout, a local plant shop in Denver looking to expand to new locations and grow its online sales. You’ll see how each part of the plan applies in the real world, and you can adapt the structure to fit your own business.
1. Executive summary
The executive summary is a high-level overview of your growth plan. It quickly communicates where your business is now, your big-picture goals, and the key steps you’ll take to get there. If you’re using your plan to secure funding, this is also where you mention how much you need and what it’ll be used for.
GreenSprout executive summary:
GreenSprout is a boutique plant shop based in Denver that specializes in curated houseplants, eco-friendly pots, and plant care accessories. With strong local demand and a loyal customer base, we’re now planning to expand into a second location in Boulder and grow our online store to serve regional customers.
Over the next 18 months, our goals are to increase total revenue by 60%, launch our ecommerce site, and open the second storefront. We’re seeking $75,000 in small business financing to support this expansion, with funds allocated for leasehold improvements, inventory, marketing, and staffing.
Need flexible funding to fuel your expansion? Bluevine offers fast working capital lines tailored to small business growth.
2. Vision and mission statements
Your vision statement explains where you want your business to go — it’s your long-term destination. Your mission statement describes what your business does today and how it serves your customers. Together, they keep your team aligned and help guide decision-making as you grow.
Keep both statements short and focused. Your vision should be forward-looking and inspiring. Your mission should be clear and practical, explaining what you do, who you do it for, and how you do it differently.
GreenSprout vision and mission:
Vision: To become the leading regional brand for eco-conscious plant lovers by making beautiful, sustainable greenery accessible in every home.
Mission: GreenSprout provides curated, easy-care plants and eco-friendly supplies to urban dwellers through our brick-and-mortar shops and online store. We empower people to bring nature indoors with confidence, joy, and sustainability in mind.
3. SMART goals and objectives
Growth plans work best when your goals are SMART: Specific, Measurable, Achievable, Relevant, and Time-bound. The SMART goals framework helps turn big ambitions into clear action steps and makes it easier to track progress along the way.
Start with two to four major goals tied to revenue, customer growth, expansion, or product development. Then, list the smaller objectives or actions needed to achieve each one. Tie every goal to a timeline and a measurable outcome.
If you’re not sure how fast your business is growing, learn how to calculate your company growth rate to find your current baseline.
GreenSprout SMART Goals:
Goal 1: Increase total revenue by 60% in 18 months
- Launch an ecommerce store by Q3
- Hit $10,000/month in online sales by month 6
- Grow email list to 5,000 subscribers by Q4
Goal 2: Open a second storefront in Boulder by Q2 next year
- Secure lease by December
- Hire and train 3 new staff members by March
- Generate $15,000/month in revenue from new location by month 3
Goal 3: Improve repeat customer rate by 25%
- Launch loyalty program using HubSpot CRM
- Automate post-purchase follow-ups and email offers
- Track returning customer sales monthly
4. SWOT analysis
A SWOT analysis outlines your business’s Strengths, Weaknesses, Opportunities, and Threats. It’s a simple but powerful way to assess where you stand and where you can grow.
Strengths and weaknesses are internal (things you control), while opportunities and threats are external (things happening in your market or industry). This section helps you make informed decisions and plan for both growth and risk.
GreenSprout SWOT analysis:
Strengths | Weaknesses |
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Opportunities | Threats |
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5. Market research
Your growth plan needs to be backed by real data, not just gut instinct. Market research helps you understand your customers, competitors, and the trends shaping your industry. It reveals where your biggest opportunities lie and how to position your business to capitalize on them.
Focus on three areas:
- Target market: Who your ideal customers are (age, location, lifestyle, buying habits)
- Industry trends: What’s growing or changing in your niche
- Competitor analysis: Who else is serving your audience, and how you’ll stand out
GreenSprout market research:
GreenSprout currently serves urban millennials and Gen Z customers in Denver who value sustainability, design, and wellness. According to IBISWorld, the U.S. plant and garden store industry has grown steadily, with increased interest in indoor plants and eco-friendly living.
Locally, boutique competitors exist, but few offer curated, low-maintenance plant kits or compostable packaging. Online, major players dominate with generic offerings, creating space for a brand with strong aesthetics, education, and community appeal.
To stay competitive and grow, GreenSprout will focus on convenience (online ordering + local delivery), plant education content, and bundling products into beginner-friendly kits.
6. Marketing and sales strategy
Your marketing and sales strategy outlines how you’ll reach new customers, retain existing ones, and turn interest into revenue. This section should cover the channels you’ll use, how you’ll position your business, and how you plan to convert leads into paying customers.
Break it into two parts:
- Marketing strategy: Where and how you’ll promote your business (social media, email, SEO, paid ads, partnerships)
- Sales strategy: How you’ll close the sale: online funnels, in-store promotions, outreach campaigns, or a sales team
GreenSprout marketing and sales strategy:
Marketing channels | Sales tactics |
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Need an all-in-one tool to manage marketing and track leads? HubSpot makes it easy to launch campaigns, nurture leads, and convert them into loyal customers.
7. Financial forecasts
Your financial forecast shows how your growth plan will impact revenue, expenses, and profitability over time. It helps you and potential investors or lenders understand if your goals are financially realistic and sustainable.
Include projections for at least 12 to 24 months, with estimates for:
- Revenue
- Cost of goods sold (COGS)
- Operating expenses (marketing, staffing, rent, etc.)
- Net profit
- Cash flow
If you’re seeking funding, show how you’ll use the funds and how long it will take to break even or become profitable. Find a more detailed guide to creating financial projections in our guide to writing a comprehensive business plan.
GreenSprout financial forecast (Year 1 highlights):
- Projected revenue: $420,000
- $240,000 from Denver shop
- $120,000 from new Boulder location
- $60,000 from ecommerce
- Operating expenses: $310,000
- $75,000 for rent and utilities
- $90,000 for staffing
- $60,000 for inventory
- $50,000 for marketing and promotions
- $35,000 for tech, tools, and admin
- Net profit: $110,000
- Break-even point: Month 10
- Capital needed: $75,000 for store buildout, marketing, and working capital
Want a simple way to track income, expenses, and projections? FreshBooks helps small businesses stay on top of their finances without needing a finance degree.
8. Operations and staffing plan
As your business grows, your systems and team need to grow with it. This section outlines the operational changes and staffing support required to execute your plan successfully. It’s your game plan for scaling efficiently without dropping the ball on quality or customer experience.
Focus on:
- What operational upgrades or changes are needed?
- What roles need to be hired or adjusted?
- How will day-to-day workflows change?
GreenSprout operations and staffing plan:
Operations:
- Implement inventory management software to sync across both retail locations and ecommerce
- Upgrade point-of-sale system to integrate online and in-store sales
- Set up a centralized vendor management process to streamline ordering and reduce delays
Staffing needs:
- Hire 1 store manager and 2 sales associates for Boulder location
- Promote a current team member to oversee ecommerce fulfillment and customer service
- Outsource bookkeeping and payroll to focus internal resources on growth
These updates ensure GreenSprout can handle higher sales volume, maintain customer satisfaction, and stay organized as it expands.
Hiring your first employees or scaling your team? Rippling simplifies onboarding, payroll, and HR so you can focus on growing.
9. Milestones and KPIs
This section turns your goals into a timeline of actions and measurable results. Milestones keep your growth plan on track, while key performance indicators (KPIs) help you measure what’s working and what needs adjustment.
Set quarterly or monthly checkpoints. Assign dates, responsibilities, and targets to each one so you can hold yourself and your team accountable.
GreenSprout milestones & KPIs:
Milestone | Target date | KPI to track |
|---|---|---|
Finalize lease for Boulder shop | Dec 15 | Signed lease agreement |
Launch ecommerce website | Mar 1 | Site live + 100 orders in first 30 days |
Hire and train new Boulder team | Apr 1 | Staff hired + 90% training complete |
Reach $15K/month in Boulder store sales | Jul 1 | Monthly sales reports |
Grow email list to 5,000 subscribers | Sep 30 | Email list growth dashboard |
Improve customer return rate by 25% | Dec 15 | Repeat customer purchase rate |
10. Risk management and contingency plans
No growth plan is complete without preparing for the unexpected. This section outlines the risks that could impact your growth goals and the backup plans to keep you moving forward if things don’t go as expected.
Cover both internal and external risks, like delays, staffing gaps, supplier issues, economic downturns, or slow sales. Then list the actions you’ll take to minimize impact or recover quickly.
GreenSprout risk management plan:
Risk | Contingency plan |
|---|---|
Construction delays on new Boulder store | Launch ecommerce 1 month earlier to offset sales delay |
Online sales underperform | Increase social media ad spend; offer free shipping promo |
Inventory shortages from suppliers | Add secondary vendors for top-selling products |
Staffing shortages | Cross-train current staff to fill gaps temporarily |
Cash flow shortfall | Apply for a line of credit as backup financing |
Frequently asked questions (FAQs)
Click through the sections below to reach answers to common questions about how to write a business growth plan.
A business growth plan is typically three to 10 pages, depending on the complexity of your goals. It should be detailed enough to guide action, but concise enough to stay focused.
Yes, a business plan covers your entire company strategy, including startup details. A growth plan focuses specifically on how an existing business will scale over time.
Review your growth plan at least once a year or quarterly if you’re in a fast-changing industry. Update it when goals shift, new opportunities arise, or performance metrics show you’re off track.
Bottom line
A business growth plan provides a step-by-step path to scaling. It helps you set clear goals, understand your market, organize operations, forecast finances, and prepare for risks. Planning out your next phase of growth keeps your team aligned, attracts funding, and ensures your business scales with focus and confidence without guesswork.
