A Business plan is everything that's in your head regarding your business idea put down on paper.

 

Part A:  Your Service or Product

What service will your business provide?

What product will you make or sell?

Will you make your product yourself?

Will you be sourcing product from elsewhere?

Have you found appropriate suppliers yet?

How will you find these sources?

Part B:  Your Market ( Research)

Who will your customers be?

Why do you think they will buy from you?

How will they find out about your business?

Who are your competitors?

How will you try and be better than them?

Part C:  Your prices

How do you set your prices?

Why do you set them at the level they are rather than higher or lower?

Are your prices higher, lower, or about the same as your competitors, and why?

Part D:  SWOT Analysis

What do you think are the good things about your business – it’s strengths?

What do you think are the bad things – it’s weaknesses?

What opportunities do you think there are for your business to grow?

What problems outside the business threaten to stop it growing or surviving- It’s threats?

Part E: Management / Staff

What Experience, Skills, and Qualifications do you have to run your business?

If there will be other staff in the business, what Experience, Skills, and Qualifications will they have?

Part F: Premises and Legal Status

Do you need premise? What type of premises will they be and why are they suitable?

Legal Format: Will your business be a limited company, will you be a sole trader or a partnership?

Details of Company Accountant and Solicitor      (if required)

Part G: Objectives and Expectations

What do you want the business to have achieved?

• in one year’s time?
• in three year’s time?
• in five year’s time?

 

DON’T PANIC

THIS FINANCIAL SECTION IS ONLY WORKED ON AFTER ALL THE WORDS ARE COMPLETED

Part H: Finance:

How much money do you think you might need to start-up your business?

Sources of Finance:  Please list who this money will come from, and how much they will each provide (don’t forget to include yourself if some of the money is your own)

Use of Finance:  What will the money be spent on and how will you keep track of it?

Cashflow Forecast: One years sales forecast and Projected Profit &Loss account will be required if this plan is submitted for funding.

 

MIchael Goodmaker