Download Business Plan Template

Business Plan
Name of Owner
Age of Owner
Home Address.
Postcode.
Tel. No.
Mobile.
E-mail.
Business Name
Business
Address
Legal Status
Advisor Name
Advisor Tel.
The Executive Summary
This is the most important page of your business plan as it will influence the reader to
look at the rest of the plan. To do this detail the highlights of your plan. The executive
summary can not usually be finished until the full business plan is complete. In brief it
should establish your personal aims & objectives, your chosen business name & your
trading style. It should indicate any additional employees & the responsibility of key
personnel. You should summarise your business idea by outlining: market- your
customers/marketplace & the geographical location for sales: operational- your legal
entity, your product or service: Financial- average prices you will charge, how much
income/ profit you will make. Detail what the purpose of the plan is.
I
SECTION1- BUSINESS DESCRIPTION & ABOUT YOU
My Business Idea
What is the business & what exactly will your business will do? Are you providing a service or
buying & selling a product? Many people have an idea for a new product or service but when
it comes down to it, it just isn’t viable. You must differentiate your idea from all the others out
there and will it fill a genuine gap in the market, building on its Unique Selling Point (USP).
What is going to make your business different from your competitors, why will people buy
from you? This is where you let people know just what your business activities will be. Don’t
be too restrictive in your idea.
My Business Aims, Objectives & Vision.
Most people when asked why they go into business will reply “To make money of course” But
you must have some other Aims & Objectives. “To take control of my life” or “to achieve
something I have always wanted”. When do you think the business will start trading? What
are your short & long term goals?
Your Relevant Experience & Knowledge
My Personal Strengths Weaknesses Opportunities Threats
Strengths- build upon them
Weaknesses- do something about
them
Opportunities- take advantage of
them
Threats- be aware
This section covers just what it says on the tin. So just focus on your own. S. W. O. Ts that
you will bring to your business or what you may need help with to make your business
successful. It might help if you invite someone to help you with this, who will be honest with
you.
SECTION 2- SALES, MARKETING & PRICING
What Type & Volume of Customers Will You Aim for?
.
Explain who will buy your products or services. What exactly do your target customers want?
How much will they buy? How often will they buy it? What else may customers want from you
think about cross sales. Do you have any promises or indications of work or custom from
these people? If so, give details of those who have agreed.
My Market Research.
No one should consider starting a business unless they have done their Market Research
relating to their product or service. This should cover the market size, the competition (
identify who they are), the area you will cover. The customers you will be dealing with and
how you will deal with them. Explain how you researched your market and what the results
were- e.g. Desk research- looking at stats, surveys, directories & other sources of existing
information. Field research- researching potential customers using questionnaires &
interviews, observing computer activity etc. Remember: Is there a GAP in the Market? Is
there a Market in the Gap?
Your Competitors S.W.O.T
Strengths
Weaknesses
Opportunities
Threats
If you have done your market research correctly you will know this and have decided how to
deal with it. Don’t look upon the competition as enemies you may have to use or work with
them one day.
My Marketing
How are you going to attract your customers? Think about how & where you are going to sell
your product/service. (Industrial premises, working from home, retail premises, market stall,
party plan, cold calling, telesales, mobile, sale or return) how will you get your business
known? How will you advertise your business? ( posters/leaflets, shop windows, word of
mouth, mail shots, editorials, sign writing on vehicles, internet) How will you get your business
known? Is the market place ready for your product or service? It’s no good thinking about this
after you have started by that time it’s too late. A good business will have an action plan
based over several months rather than a scatter gun approach
Pricing
.
How much are you going to charge? This is a tough one. You must consider your pricing
carefully if you want to get into the market. Think about what you will charge per hour, per job
or for items sold. How did you decide on this figure? You will need to know your costs before
you can arrive at the correct sales price, include all overheads for e.g. Materials, stock,
heat/light/rent, labour, admin & most importantly profit! Include all time spent in the business,
even unproductive time such as travelling. Your prices need to be keen but don’t fall into the
trap of being too cheap Do your homework and nick a few prices from the competition and
adjust to give you the edge. This will show whether you can or cannot deliver at a price that is
suitable for all concerned.
What Volume of Sales Can your Business Handle
.
How many items, services, jobs are you going to sell? Explain how you will meet this target.
Be realistic!
Who Will Your Suppliers Be
How are you sourcing you supplies? How reliable are your suppliers? Are they able to cope
with any increase in demand from you if your business takes off?
SECTION 3 – OPERATIONAL DETAILS
What Resources Are Needed for your Business to Start?
SECTION 4- FINANCIAL PLANNING
My Annual Survival Income.
ESTIMATED EXPENDITURE
£
Mortgage / Rent
Council Tax
Water Rates
Gas, Electricity, Oil
All Personal & Property Insurance
Food & General Household Expenses
Clothing
Telephone / Mobile / Internet
Hire Charges (Television, Video etc.)
Entertainment (Entertainment, Meals, Drinks etc.)
Subscriptions (Clubs Gyms, Journals etc.)
Car – Tax & Insurance
Car – Running Expenses
Car – Service & Maintenance
Children’s Expenditure & Presents
Savings Plans
Hire Purchase Repayments
Contingencies
Sub-Total (Expenditure)
ESTIMATED INCOME
Income From Family / Partner
Other Income ESP Ltd ( Body Guarding Business ) approx
Sub-Total (Income)
TOTAL SURVIVAL INCOME REQUIRED IN THE YEAR
Very few businesses make much money in the first year. Use this form to work out how much
you and your family need to survive over the first twelve months.
These are the funds you need to keep you and your family going whilst your business gets of
the ground or worse still if it stalls. So be practical you will still need to keep a roof above your
head, i.e. holidays, birthdays, the odd drink, you will be surprised when you add them all up.
The Business Annual Profit & Loss Budget
£
Business Sales
Total Income (a)
Deduct
Stock Purchases for Re Sale
Rent & Rates
Wages
Drawings
Utilities
Insurances
Repairs & Renewals
Motor Expenses
Telephone / Mobile / Internet
Advertising
Printing / Stationery
Miscellaneous Expenses
Loan Repayments
Bank Charges
Professional Fees
Depreciation
Total Expenses (b)
TRADING PROFIT (LOSS) = (a – b)
Cash Flow Forecast
Aug
Expected
Business Sales
Other Income
Loans
Grants
Total Incoming
Stock Purchases
Rent & Rates
Wages
Drawings
Utilities
Insurances
Repairs &
Renewals
Motor Expenses
Phone / Internet
Advertising
Print / Stationary
Miscellaneous
Loan Repayment
Bank Charges
Professional Fee
Total Outgoing
Incoming less
outgoing
Opening Bank
Balance
Closing Bank
Balance
Nil
Sep
Expected
Oct
Expected
Nov
Expected
Dec
Expected
Jan
Expected
Feb
Expected
Mar
Expected
Apr
Expected
Expected
Expected
Expected
Totals
Expected
Cashflow Assumptions
List of Approx Costs Already Incurred (Including Vat)