How to create a business plan

To write a business plan that gives the underwriter a clear view of how your business operates, use the basic outline in this section.

Once the underwriter receives your merchant account application, they start building a picture of your business from the information available to them. A strong business plan helps you shape that narrative.

You can also use AI to polish your plan after you compile all the following information.

1. The Operational Core

Establish who you are and where you operate. Include your full legal name, registration number, date of establishment, and registered address. Define your primary merchant outlet location, which under card scheme rules must be a real, staffed premises, not a virtual office. Provide an org chart that shows the Ultimate Beneficial Owners (UBOs) and the people who manage day-to-day operations.

2. The Commercial Logic

Explain exactly what you sell and why it matters, avoid vague product or service descriptions. If you're specific, it reduces the risk the underwriter will make assumptions about unauthorised third-party processing. Highlight any proprietary edge, such as unique software, exclusive supplier relationships, or specialised supply chains. If your site has a login area, provide test credentials so the underwriter can review the user experience directly.

3. Supply Chain & Fulfilment

Show the full journey of your product from supplier to customer. Name your manufacturers or authorised distributors, identify your fulfilment partners, and describe your last-mile process. Explain how you maintain a full audit trail from supplier invoice to proof of delivery. This will help you resolve disputes quickly and reduces refunds and chargebacks.

4. Customer Acquisition

Demonstrate that your revenue is organic and traceable. Document your primary marketing channels, such as Google Ads, SEO, and influencer marketing, with evidence of your active spend. List the geographic markets you serve and confirm that your fulfilment capabilities support them. Describe the full click-to-checkout journey so the underwriter can see that transaction volumes come from real, verifiable traffic.

5. The Financial Model

Ground your projections in operational reality. New businesses must provide 12 months of forward projections. Calculate monthly revenue by multiplying your Average Transaction Value (ATV) by your expected transaction count. Break down your costs across COGS, marketing, and fixed overheads. Finally, show that your marketing budget is large enough to generate the customer volumes needed to hit your sales goals.

Your business plan is the narrative; your supporting documents (IDs, contracts, and bank statements) are the evidence. If you bring a coherent plan on day one, it helps the underwriter shift from looking for reasons to decline you to looking for reasons to onboard you.