Business Plan Template

If you have ever thought of starting your own business then one of the most important things you will need is a business plan. Writing a business plan can seem like a daunting task but it will ensure that you have a viable business before you start spending money. It will also help if you are looking for outside investment. Don’t feel to overwhelmed at the prospect of so much writing. Just take it one section at a time and you will get there. It will really help you think about every aspect of your business and how it will be run and this will ensure you know exactly what to expect from it when it is up and running.

Feel free to copy and paste this straight into word and get to work on it. Please leave a comment below if you have any questions and I will be happy to help you out!

 

Getting started

Whose plan is this?

                                                                                                                                               

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):

 

Section one

Executive summary

                                                                                                                                               

 1.1 Business summary:

1.2 Business aims:

1.3 Financial summary:

Elevator Pitch

                                                                                                                                               

 1.4 Your business name:

1.5 Strapline:

1.6 Elevator pitch:

Section two

Owner’s background

                                                                                                                                               

 2.1 Why do you want to run your own business?

2.2 Previous work experience:

2.3 Qualifications and education:

2.4 Training:

Details of future training courses you want to complete:

2.5 Hobbies and interests:

2.7 Additional information:

 

 Section three

Products and services

                                                                                                                                               

 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 you will start selling them:

3.5 Additional information:

Section four

The market

                                                                                                                                               

 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?

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:

4.8 Additional information:

 

 Section five

Market research

                                                                                                                                               

 5.1 Key findings from desk research:

5.2 Key findings from field research – customer questionnaires:

5.3 Key findings from field research – test trading:

5.4 Additional information:

 

Section six

Marketing strategy

                                                                                                                                               

 

 

What are you going to do?


Why have you chosen this marketing method?
 

How much will it cost?

TOTAL COST

 

 

Section seven

Competitor analysis

                                                                                                                                                                                                                                   

 

7.1 Table of competitors

 

 

Name, location

and business size

 

 

 

Product/service

 

 

 

Price

 

 

 

Strengths

 

 

 

Weaknesses

 

 

 

 

7.2 SWOT analysis :

 

 

Strengths

 

 

 

Weaknesses

 

 

 

 

Opportunities

 

 

 

Threats

 

 

 

 

7.3 Unique Selling Point (USP):

 

 

Unique Selling Point (USP)

 

 

 

 

 Section eight

Operations and logistics

                                                                                                                                               

 8.1 Production:

8.2 Delivery to customers:

8.3 Payment methods and terms:

8.4 Suppliers:

 

Name and location of supplier

 

 

Items required

and prices

 

 

Payment arrangements

 

 

Reasons for choosing supplier

 

       

8.5 Premises:

8.6 Equipment

     

If being bought

 

 

Item required

 

 

 

Already owned?

 

 

 

New or second hand?

 

 

Purchased from

 

 

Price

 

         

8.7 Transport:

8.8 Legal requirements:

8.9 Insurance requirements:

8.10 Management and staff:

8.11 Additional information:

 

Section nine

Costs and pricing strategy

                                                                                                                                               

  Product/service name
A Number of units in calculation
B Product/service components

 

 

Components cost

 

 

C Total product/service cost
D Cost per unit
E Price per unit
F Profit margin (£)
G Profit margin (%)
H Mark up (%)

Section ten

Financial forecasts

                                                                                                                                                                                                                                     

 

10.1 Sales and costs forecast

 

 

 

Month

 

 

1

 

 

2

 

 

3

 

 

4

 

 

5

 

 

6

 

 

7

 

 

8

 

 

9

 

 

10

 

 

11

 

 

12

 

 

TotaL

 

 

A

 

 

Month name

 

 

 

 

 

 

Sales forecast

 

                         
 

B

 

 

Product/service

 

 

 

C

 

 

 

Product/service

 

 

 

 

 

Costs forecast

 

                         
 

D

 

 

Product/service

 

 

 

 

E

 

 

Assumptions

(e.g. Seasonal trends)

 

 

 

10.2 Personal survival budget

 

 

Section

 

   

Monthly cost (£)

 

 

A

 

Estimated costs

Mortgage/rent

 

  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
  Children’s expenditure and presents
  Credit card, loan and other personal debt repayments
  National Insurance
  Other
B Total costs (£)
 

C

 

Estimated income

 

Income from family/partner
  Part time job
  Working tax credit
  Child benefits
  Other benefits
  Other
 

D

Total income (£)
 

E

Total survival income required (£)

10.3 Cashflow forecast

 

  Month Pre-start 1 2 3 4 5 6 7 8 9 10 11 12 Total
A Month name
  Money  in (£)                            
B Funding from The Prince’s Trust
  Funding from

other sources

  Own funds
  Incomes from Sales
  Other
C Total Money in (£)                                                                                    
  Money out (£)                            
D Loan repayments

The Prince’s Trust

  Personal drawings
   
   
   
                                                                                       
   
   
   
                                                                                       
   
   
   
                                                                                       
   
   
                                                                                       
E Total money out (£)
F Balance (£)
  Opening balance
  Closing balance                                                                                    


10.4 Costs table

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

 

 Section eleven

Back-up Plan

                                                                                                                                               

 

11.1 Short-term plan:

11.2 Long-term plan:

11.3 Plan B:

11.4 Plan B continued…:

 

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