A business has three pillars: the idea, the plan, and the execution. Congratulations! You have the app idea already, now you have to step forward with a plan.
But, somewhere with all the workload, the concept of the app, hiring the right people, budget, and development of the app, entrepreneurs overlook the need for planning.
Worry not, we are here to lighten your burden with our step-by-step guide for mobile app business plan writing.
Let’s get started with our guide, without any further ado:
An executive summary is a quick overview of the whole business plan. From mission & vision to financial projections, it includes everything in between.
Generally, entrepreneurs write this section at the end after having the full knowledge of the entire business plan.
Begin your executive summary with a brief introduction of your business, and include other elements like:
For instance, here is an example of an app business USP’s section:
USP for PrivyConnect – Social Media App: “Connect with Total Privacy”
Our social media app is dedicated to ensuring your online interactions remain private and secure. Unlike many other platforms, we don’t share your data or personal information with third parties.
We use robust encryption to protect your messages and content, and you have full control over who can see your posts. With us, you can truly connect with your friends and family in a safe and trusted environment. Your privacy is our priority.
Note: your readers might not read the whole business plan, but they will go through the executive summary. Therefore, make sure you write it engagingly to grab their interest.
Say goodbye to boring templates
Build your business plan faster and easier with AI
Plans starting from $7/month
In this section, present your business in detail. It should provide the details of your business & app name, the location of your office, the structure of your business, and other such information.
Now it is time you introduce what type of business you own, for example, your app type will be one from below:
After that, mention the company history if you have any. Add the name and other qualifications & achievements of business owners. Mention the vision & mission statement of your app business along with your future goals.
In short, this section should provide an in-depth understanding of your business and business owners.
In the industry analysis section of your mobile app business plan, you have to provide the details about the mobile app industry. It will help you understand the market and gain a better insight into your business positioning.
Here are certain questions to ask while performing industry analysis:
Conduction this industry analysis will educate you about the market and help you prepare marketing strategies according to the market trends.
In short, industry analysis will help to know a clear picture of the market, helping you in making informed decisions.
Competitive analysis will help you identify the unique selling propositions (USP). Also, this way you will get to know your competitors.
Start by specifying who are your competitors – then compare it with both direct and indirect customers.
Now, let’s focus on your direct competitors, those similar to your mobile app. Provide an overview of each competitor, including their size and where they’re based.
Here are some questions to ask for competitive analysis:
A more effective way to this analysis is to conduct it from the customers’ viewpoint. You might even ask your competitors’ customers what they like and dislike about their apps to better understand customers’ perspectives.
Here is an example of competitors and competitive advantage of the app:
Competitors
SocialShield: SocialShield is a notable competitor in the privacy-focused social media segment. It emphasizes strong user data protection and secure communications. Their user base has been steadily growing, particularly among privacy-conscious users.
GuardChat: GuardChat offers encrypted messaging and content sharing. It has a user-friendly interface and strong encryption features. While their user base is smaller compared to established platforms, they have garnered a dedicated following.
PriviNet: PriviNet has made a name for itself by offering comprehensive privacy controls and anonymous user interactions. They have built a niche community of users who value privacy and user-controlled sharing settings.
Competitive Advantages of PrivyConnect
PrivyConnect’s comprehensive privacy controls and encryption set it apart as a top contender.
The app’s transparent communication and commitment to environmental responsibility contribute to its appeal.
PrivyConnect’s active community-building efforts and user engagement foster loyalty.
The app’s plans to expand into secure content sharing and social community growth align with industry trends.
This way you can get to know the USP of a mobile app development company. Once you get the USP, flaunt it in the entire business plan.
In the market analysis section, do the market research and dive right into the market where you will be providing your app services. Begin the section by providing the details of your target customers.
Your target customers will depend on the type of app you own and the services you provide.
After a thorough discussion of the target market, discuss the market trends. Mention what your target customers prefer and what new are they looking for. For example, people might be looking for:
At the end of the market analysis, do mention the regulatory environment mobile apps need to follow in the particular location.
Writing the sales and marketing section means jotting down the marketing strategy you will use to acquire new users and retain the existing ones.
Now it is time to mention the marketing strategies for your app, there are three phases of the launch:
Once you have noted down how you will acquire customers, then mention below things too:
Knowing who is behind your app business will increase the appeal of your business plan.
The management team tells you about the people in charge of the app business. It should explain each manager’s experience, what they’re good at, and what their jobs are.
Here is an example of the management team:
Management team of PrivyConnect
Founder and CEO – Sarah Anderson
Sarah is the visionary leader behind PrivyConnect. With a background in cybersecurity and a passion for online privacy, she founded the company to provide users with a secure and private social media experience. Sarah is responsible for setting the company’s strategic direction and ensuring its commitment to user privacy and data protection.
CTO – David Ramirez
David brings a wealth of technical expertise to PrivyConnect. He has a strong background in mobile app development and security protocols. David oversees the technical development of the app, ensuring that it employs state-of-the-art encryption and privacy measures.
CMO – Emily Davis
Emily is the marketing guru behind PrivyConnect’s success. With a knack for digital marketing and user engagement, she is responsible for building the app’s user base and promoting its unique selling propositions. Emily focuses on user-centric marketing strategies and community engagement.
COO – Michael Chen
Michael is the operations expert at PrivyConnect. With years of experience in streamlining business operations, he ensures the app runs smoothly and efficiently. He also oversees partnerships and collaborations to enhance the app’s offerings.
As earlier sections mentioned everything about your company goals, here it is time to mention how you will reach them. These goals are differentiated into two sections:
They’re the heart and soul of your mobile app’s daily life, from coding and upgrades to the nitty-gritty of customer support. These are the everyday heroes that keep your app running smoothly.
It’s all about milestones: the moments that make you pop the champagne. Picture celebrating your 10,000th app install, hitting that milestone sales figure you’ve dreamt of, or expanding your team.
Your financial plan needs to have a 5-year financial forecast. For the first year, break it down into monthly or quarterly details, and then summarize it annually. This forecast should cover your income statement, balance sheet, Use of Funds, and cash flow.
An income statement, often known as a Profit and Loss statement or P&L, displays your earnings and then deducts your expenses to know the profitability of your business. Make practical assumptions based on your competition.
Balance sheets display your assets and liabilities. Although they can contain a lot of details, like equity, goodwill, other intangible assets, etc.
When you are seeking funding, this statement becomes necessary to show where you will use the funds. Here is an example of the Uses of Funds chart with the help of Upmetrics:
Your cash flow statement helps you see how much money you need to start or grow your business and avoid running out of money.
Surprisingly, you can make a profit but still face financial problems that could lead to bankruptcy. Therefore, you will need proper cash flow planning to avoid such circumstances.
For entrepreneurs who jump into business directly without writing a business plan is like delaying their success. Here are some reasons why you need a mobile app business plan:
Writing a business plan helps you work out and make clear your business strategy. Do you want customers to pay upfront? Or there are in-app purchases? Writing this down from the start helps your team understand where you’re headed.
Sometimes, it takes months or even a year to cover customer acquisition costs. So, you need a plan with a solid financial forecast. A good plan lets you play with different situations, so you know how much money you need for both the long and short term.
Acquiring and retaining customers is one of the sole purposes of a business. In the business plan, you have to mention in detail about your strategies to have a clear roadmap.
A business plan lets you identify your ideal customer profile. Knowing your customers is crucial, and having a deep understanding of your customers helps you make the correct updates to your product in the future.
Ready to kick-start your business plan writing process? And not sure where to start? Here you go, download our free mobile app business plan pdf, and start writing.
This intuitive, modern, and investment-ready template is designed specifically for mobile app businesses. It includes step-by-step instructions & examples to help in creating your own mobile app business plan.
The Quickest Way to turn a Business Idea into a Business Plan
Fill-in-the-blanks and automatic financials make it easy.
Finally! You know how to write a mobile app business plan. Thus, you are one step closer to starting or expanding your business.
No doubt, writing a business plan is a challenging task, but it is a lot smoother with a top business planning tool. Therefore, take a deep breath and get started with your plan. All the best!
Web Design Business Plan
Dating App Business Plan
Top Business Planning Tools
Business Plan Presentation Tips
Yes, in the section of competitive analysis: you need to mention your competitors and their USPs. This will help you to understand the market and know your strong points.
An app business plan is a living document, you can change or update it whenever you want. Ideally, go through your plan and make changes according to the current situations atleast once a month.
One of the main purposes of writing a business plan is to secure funding or get a loan. So, of course, you can present a solid mobile app business plan in front of lenders to secure funding.
Writing a mobile app business plan might cost from a few hundred to thousands of dollars depending on the complexity of the app, the number of integrations, UI/UX, etc.
