Business Plan Pack

8/11/2019 Business Plan Pack

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THE PRINCES TRUSTBUSINESS PLAN PACK

THE BUSINESS PLAN


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WELCOME

Youve got a business idea. Youve decided to starta business. You want to get going.

But theres a lot more to a good business than a good idea.You need to think things through to maximise your chancesof success. Are you the right person to run the business?Will customers like your product?

A business plan will help you turn an idea into a business.It needs you to think through all the parts of your business toplan how everything will work. It will take a few weeks to writeif youre going to do it properly. Some parts will be easier tocomplete than others. Stick at it because its not the nal document thats important,its the process. Although you want to have a good plan whenyoure done, an OK plan is better than no plan.

THE BUSINESS PLAN

The Princes Trust Business Plan Pack

The best business plans arent long andcomplex; they explain only the mostimportant information what you want toachieve, how you will get there and thethings you need to do along the way.

Its best to tackle a business planin small chunks. The Princes TrustBusiness Plan Pack can help. Thisis The Business Plan divided intosections to help you develop yourbusiness idea. You can use theinformation in The Guide to help youcomplete the sections.

The pack is also available electronically.Some of the sections of The BusinessPlan have tables to record the nancialparts of your business. The tables arealso available in MS Excel format and thesums in these are automatic.

The Princes Trust Enterpriseprogramme

The Princes Trust has helped manyyoung people to complete their businessplans and start their own businesses. Ifyou are aged 1830 and unemployed orworking fewer than 16 hours per week,then we might be able to help you. Wehave of ces throughout the UK andin each, there is a team of Enterpriseprogramme staff.

To take part, you need to be interestedin self-employment and have a businessidea that you would like help to test andexplore. The programme can then helpyou to see if your business idea willwork and whether self-employment isright for you. If through this process you

nd out it is, the programme can offermentoring support and, if you really needit, nancial support to start your business.However, if self-employment turns outnot to be the right option, the programmecan offer support to secure other goalsin employment, education, training orvoluntary work.

We cant guarantee that your businesswill work or that we will be able to offer you money, but if you are up for achallenge and want our help to exploreyour business idea, get in touch andcome and meet us.


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CONTENTS

03GETTING STARTEDWhose plan is this?04SECTION ONEExecutive summary07SECTION TWOOwners background09SECTION THREEProducts and services10SECTION FOURThe market12SECTION FIVEMarketing strategy13SECTION SIXMarket research14SECTION SEVENCompetitor analysis

17SECTION EIGHT

Operations and logistics

20SECTION NINECosts and pricing strategy21SECTION TENFinancial forecasts

25SECTION ELEVEN

Back up plan

02


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GETTING STARTED

Business and owner details:

Business name:

Owner(s) name:

Business address and postcode:

Business telephone number:

Business email address:

Home address and postcode(if different from above):

Home telephone number (if different from above):

Home email address(if different from above):

WHOSE PLAN IS THIS?

03

GETTING STARTED


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SECTION ONE

EXECUTIVE SUMMARY

1.1 Business summary:

1.2 Business aims:

1.3 Financial summary:

04


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ELEVATOR PITCH

05

SECTION ONE

1.4 Your business name:

1.5 Strapline:

1.6 Elevator pitch:


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SECTION ONE

06


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SECTION TWO

SECTION TWO

2.1 Why do you want to run your own business?

2.2 Previous work experience:

2.3 Quali cations and education:

OWNERS BACKGROUND

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SECTION TWO

2.4 Training:

2.5 Details of future training courses you want to complete:

2.6 Hobbies and interests:

2.7 Additional information:

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SECTION THREE

SECTION THREE

3.1 What are you going to sell?

a product a service both

3.2 Describe the basic product/service you are going to sell:

3.3 Describe the different types of product/service you are going to be selling:

3.4 If you are not going to sell all your products/services at the start of your business, explain why not and when youwill start selling them:


PRODUCTS AND SERVICES

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SECTION FOUR

SECTION FOUR

4.1 Are your customers:

individuals businesses both

4.2 Describe your typical customer:

4.3 Where are your customers based?

4.4 What prompts your customers to buy your product/service?

4.5 What factors help your customers choose which business to buy from?

THE MARKET

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SECTION FOUR

4.6 Have you sold products/services to customers already?

Yes No

If you answered yes, give details:

4.7 Have you got customers waiting to buy your product/service?

Yes No

If you answered yes, give details:


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SECTION FIVE

SECTION FIVE

MARKET RESEARCH

12

5.1 Key ndings from desk research:

5.2 Key ndings from eld research customer questionnaires:

5.3 Key ndings from eld research test trading:



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SECTION SIX

SECTION SIX

MARKETING STRATEGY

13

What are you going to do? Why have you chosen this marketing method? How much will it cost?

TOTAL COST


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SECTION SEVEN

SECTION SEVEN

COMPETITOR ANALYSIS

7.1 Table of competitors

14

N a m e ,

l o c a t i o n

P r o

d u c t

/ s e r v i c e

P r i c e

S t r e n g

t h s

W e a

k n e s s e s

a n d b u s i n e s s s i z e


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SECTION SEVEN

7.1 Table of competitors continued...

15

N a m e ,

l o c a t i o n

P r o

d u c t

/ s e r v i c e

P r i c e

S t r e n g

t h s

W e a

k n e s s e s

a n d b u s i n e s s s i z e


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SECTION SEVEN

7.2 SWOT analysis 7.3 Unique Selling Point (USP)

16

S t r e n g

t h s

W e a k n e s s e s

O p p o r t u n i

t i e s

T h r e a

t s

U n

i q u e

S e l l i n g

P o

i n t ( U S P )


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SECTION EIGHT

SECTION EIGHT

8.1 Production:

8.2 Delivery:

8.3 Payment methods and terms:

8.4 Suppliers:

Name and location Items required and prices Payment arrangements Reasons for choosingof supplier

OPERATIONS AND LOGISTICS

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SECTION EIGHT

8.7 Transport:

8.8 Legal requirements:

8.9 Insurance:

8.10 Management and staff:


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P r o d u c

t / s e r v

i c e n a m e

A

N u m

b e r o

f u n

i t s

i n c a

l c u

l a t i o n

B

P r o d u c

t / s e r v

i c e c o m p o n e n

t s

C

T o t a l p r o

d u c

t / s e r v

i c e c o s t

D

C o s t p e r u n i

t

E

P r i c e p e r u n

i t

F

P r o f t m a r g

i n ( )

G

P r o f t m a r g

i n ( % )

H

M a r k u p

( % )

SECTION NINE

SECTION NINE

COSTS AND PRICING STRATEGY

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10.1 Sales and costs forecast

M o n t

h

A

M o n t

h n a m e

S a l e s

f o r e c a s t

B

P r o d u c

t / s e r v

i c e

C

P r o d u c

t / s e r v

i c e

C o s t s

f o r e c a s t

D

P r o d u c

t / s e r v

i c e

E

A s s u m p t

i o n s

( e . g . S

e a s o n a

l t r e n

d s )

SECTION TEN

SECTION TEN

FINANCIAL FORECASTS

21

1

2

3

4

5

6

7

8

9

1 0

1 1

1 2

T o t a l


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SECTION TEN

10.2 Personal survival budget

Section Monthly cost ()

A Mortgage/rentEstimated costs

Council tax

Gas, electricity and oil

Water rates

All personal and property insurances

Clothing

Food and housekeeping

Telephone

Hire charges (TV, DVD etc.)

Subscriptions (clubs, magazines etc.)

Entertainment (meals and drinks)

Car tax, insurance, service and maintenance Childrens expenditure and presents

Credit card, loan and other personal debt repayments

National Insurance

Other

B Total costs ()

C Income from family/partner Estimated income

Part-time job

Working tax credit

Child bene ts

Other bene ts

Other

D Total income ()

E Total survival income required ()

22

PERSONAL SURVIVAL BUDGET


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10.3 Cash ow forecast

SECTION TEN

M o n

t h

A

M o n

t h n a m e

M o n e y

i n ( )

B

F u n d i n g

f r o m

T h e

P r i n c e

s T r u s t

F u n d i n g

f r o m

o t h e r s o u r c e s

O w n

f u n

d s

I n c o m e s

f r o m s a

l e s

O t h e r

C

T o t a

l m o n e y

i n ( )

M o n e y o u

t ( )

D

L o a n r e p a y m e n

t s

T h e

P r i n c e

s T r u s t

P e r s o n a

l d r a w

i n g s

E

T o t a

l m o n e y o u

t ( )

F

B a l a n c e

( )

O p e n i n g

b a l a n c e

C l o s i n g

b a l a n c e

23

2

3

4

5

6

7

8

9

1 0

1 1

1 2

T o t a l

P r e - s

t a r t

1


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SECTION TEN

10.4 Costs table

Cost item What is included and how you worked it out Total cost

24


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SECTION ELEVEN

SECTION ELEVEN

11.1 Short-term plan:

11.2 Long-term plan:

11.3 Plan B:

11.4 Plan B continued...

BACK-UP PLAN

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Documents

Business Plan Pack