Business Plan for [Business Name]
[Place logo here if applicable]
Proprietor's Name:
Home Address:
Telephone No:
Cell No:
Business Address:
Business Telephone No:
1 Description of the Business
1.1 Description
Describe your proposed business and the products or services you will be providing:
1.2 Legal Status
Legal Status:
Sole Trader [ ] Partnership [ ] Limited [ ] Other [ ]
If other - state which [ ]
1.3 Objectives
What are the objectives of the business?
Short Term (0 - 1 year)
Medium term (1 - 2 years)
Long Term (2 - 5 years)
2 My Experience and Attributes
2.1 Previous Work
Previous work in this or related field:
2.2 Education/ Training
Relevant education or training:
2.3 Skills
Other relevant experience/ knowledge/ practical skills:
2.4 Support
Will anyone be supporting you?
Friends [ ] Family [ ] Ex-colleagues [ ] Other [ ]
Please describe how they will support you:
3 My contributions and expectations for the business
3.1 Motivation
Why do you want to start you own business?
Financial Independence [ ] Be my own boss [ ]
Good market for product / service [ ] Due to redundancy [ ]
Cannot secure employment [ ] Want the challenge [ ]
Have been planning self-employment for some time [ ]
Other Reasons:
3.2 Assets
What assets will you be bringing to the business?
Money [ ] Computer / Printer [ ]
Home Office Furniture / Equipment [ ] Cell/Mobile Phone [ ]
Please Describe:
Vehicle [ ] :
Tools [ ] :
Equipment [ ] :
Stock [ ] :
Raw Materials [ ] :
3.3 Required Earnings
How much do you need to earn from your business? week / month / year
3.4 Desired Earnings
How much would you like to earn from your business? week / month / year
3.5 Effects of business
How will starting a business effect you and others around you?
3.6 Disadvantages
Can you think of any disadvantages?
What could go wrong?
4 SWOT Analysis
4.1 Strengths
What are the strengths of your product / service?
4.2 Weaknesses
Are there any weaknesses in your product / service?
4.3 Opportunities
Have you identified any opportunities?
4.4 Threats
What are the threats to the success of your business?
5 What needs to be done?
5.1 Purchases
What do you need to buy? (Please give approximate costs)
Computer / Printer [ ]
Home Office Furniture / Equipment [ ]
Cell/Mobile Phone [ ]
Vehicle [ ]
Tools [ ]
Equipment [ ]
Stock [ ]
Raw Materials [ ]
Others (give details)
5.2 Finance
How do you intend to finance these purchases?
5.3 Further Training
Is further training required?
Occupational [ ] Business Skills [ ] Educational [ ]
Detail and explain how this will be achieved:
5.4 Contacts
List the people / organisations you will need to contact before you can start your business:
Insurance Broker [ ] Suppliers [ ] Local Council [ ]
Bank [ ] Legal Adviser [ ] Funding Source [ ]
Others (give details):
5.5 Legal
Are there any laws / regulations to consider? No [ ] Yes [ ] Please Describe:
5.6 Records
What records will you need to keep?
5.7 Licences
Licences need any licences? No [ ] Yes [ ] Please Describe
When will licence applications need to be submitted?
5.8 Premises
Do you need premises?
Work from home [ ] Retail unit [ ] Manufacturing unit [ ] Office [ ]
Other[ ]
Please describe premises specifications (if appropriate) e.g. size. location, access, security :
5.9 Materials and Supplies
List the materials and supplies that your business needs with current prices and potential suppliers:
6 The Market and Competition
6.1 Target Market
Target Market
General Public [ ]
Age Group Gender Income H M L
Businesses [ ]
Preferred Contact MD [ ] Buyer [ ]
Householders [ ] Owners / Occupiers [ ] Tenants [ ] Landlords [ ]
6.2 Customer Location
Where are your customers?
6.3 Market Knowledge
How do you know that there is a market for your product / service?
6.4 Attachments
Attached :
Completed questionnaires [ ] Letters of Intent [ ]
Analysis of Desk Research [ ] Orders [ ] MR Company Report [ ]
Other [ ] (Please give details)
6.5 Competition
Detail your competition:
Name:
Main Strengths:
Main Weaknesses:
Name:
Main Strengths:
Main Weaknesses:
Name:
Main Strengths:
Main Weaknesses:
6.6 Competitor research
How did you research these competitors?
Personal experience [ ] Reputation [ ] Internet [ ] Library [ ]
Price lists / sales literature [ ] Other [ ] (Please give details)
6.7 Better than Competition?
How can your business be better than the competition?
6.8 Unique Selling Point
Is there anything about your your product / service that is unique (USP) ?
6.9 Competiton Sales practice
How do your competition sell their product / service?
6.10 Competitor Competition
Licenses now how much your competition charges for products / service?
Yes [ ] No [ ]
Will your prices be: Higher [ ] Lower [ ] About the same [ ] as the competition?
What effect should this have?
6.11 Marketing
How do you intend to market your products / service?
Door to door [ ] Retail Outlert [ ] Internet [ ] Telesales [ ]
Leaflets [ ] Referrals [ ] Advertise [ ] Please detail advertising strategy:
6.12 Customer Loyalty
How will you keep customers once you have won them?
6.13 Competitor Loyalty
How do your competitors retain customers?
7 Business Costs
7.1 Average Price
How much on average will you sell your product / service for?
per article / job / hour
How have you calculated to your pricing schedule?
7.2 Cost of Sales
As a percentage, how much will the material cost per article / job?
% (Cost of Sales)
Example:
Hand-knitted jumper sells at $/£24.00
Cost of materials (wool) $/£ 6.00
"Cost of sales" calculation is $/£6 divided by $/£24 x 100 = 25%
7.3 Estimated Costs
Estimate (or make provision for) other weekly business costs:
Rent and Council/Property Tax
Electricity / Gas
Telephone
Vehicle running costs
Advertising
Stationery
Repairs / Renewals
Postage
Insurance
National Insurance/Income Taxes
Proprietor's Drawings
Wages
Other (give details)
8 Business Sales
8.1 Peaks and Troughs?
Can you anticipate the peaks and troughs over a typical year?
Are these seasonal?
How will you plan for them?
8.2 Market Research
Using the information from your market research
To the nearest
In a "High" month, how many "average" sales will you make in a week?
How many: X Average Selling price = Value of weekly sales
In a "Medium" month, how many "average" sales will you make in a week?
How many: X Average Selling price = Value of weekly sales
In a "Low" month, how many "average" sales will you make in a week?
How many: X Average Selling price = Value of weekly sales
8.3 Cash Flow
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