WritingaBusinessPlan

1、Page 1 of 14| 9 August 2020 | Business PlanWriti ng a Bus in ess Pla nIntro and instructions for use:Complete as many secti ons in this docume nt as possible, or as n eeded.The text in RED is instructional and should be deleted before printing.This page should be deleted before prin ti ng.When y ou

2、re finished, right click on the table of contents and choose the UpdateField option so the table reflects the contents of your document.Page 2 of 14| 9 August 2020 | Business Planvyour logo hereBus in ess NameBus in ess Pla nBus in ess AddressPrepared By:Page 3 of 14| 9 August 2020 | Business PlanTa

3、ble of Contents1.Bus in ess Summary . 41.1Busin ess Overview . 41.2Product/Service Features . 41.3Locati on . 41.4Market An alysis. 51.5Market Strategy. 51.6Key Finan cial Objectives. 51.7Busin ess Structure . 61.8Man ageme nt & Own ership . 61.9Key Objectives . 62.Detailed Pla n . 72.1Target Market

4、/Customer An alysis. 72.2The Competitor . 72.3Product/Service. 82.4Product or Service Producti on. 82.5SWOT An alysis . 93.Finan cial pla n. 103.1Key Objectives and Finan cial Review . 1 03.2Establishme nt Costs. 1 03.3In come Projecti on Stateme nt (Profit and Loss). 1 23.4Cash Flow . 123.5Bala nee

5、 Sheet. 1 23.6Break-eve n an alysis . 134.Support ing Docume ntati on. 135.Actio n Pla n . 14Page 4 of 14| 9 August 2020 | Business Planlure of yourre relying on cati on and1. Busin ess Summary1.1Business OverviewThe overview should provide the reader with a clear summary of what your bus in ess doe

6、s or will do. In no more than a page, it should briefly answer the following questions:?What does your bus in ess do and how long has it bee n operati ng? What in dustry is it in? What sets your bus in ess above your competitors, e.g. differe nt locati on, cheaper price, better service?Outl ine the

7、products or services, who will buy them, where you feel the bus in ess will be in two to five years and how this will be achieved?1.2Product/Service FeaturesWhat are the main ben efits of your product or service? In this secti on, summarise what makes your offeri ng special from your customers point

8、 of view.Describe:? What you are selli ng.? How your product or service will ben efit the con sumer.? The dema nd for your products and services- will they create a steady cash flow?What makes your product or service differe nt or uni que?1.3LocationYour choice of locati on can mean the differe nee

9、betwee n the success or fai bus in ess. If your bus in ess depe nds on pers onal con tact with your customers, your premises should be easy to reach and provide a sense of security. If you passing trade, you should estimate pedestrian traffic around your chosen lo desig n your ope ning hours to cate

10、r to their n eeds.Con sider:What type of people pass your shopfr ont? Will they be in terested in your product or service?What kind of space will you n eed?Is the area desirable? Is the buildi ng desirable?Is it easily accessible? Is public transport available? Is street lighting adequate? Can you o

11、ffer customer park ing?Is the area experiencing any market shifts or demographic shifts you should be aware of?1.4Market AnalysisMarket ing plays a vital role in successful bus in ess ven tures. How well you market your bus in ess, along with a few other con siderati ons, will ultimately determ ine

12、your degree of success or failure. Key in formati on in cludes:? Briefly outl ine what market the product or service is going to be aimed at andPage 5 of 14| 9 August 2020 | Business Planwhy? Are these markets grow in g, rema ining con sta nt or decli ning? Will your market share grow, rema in con s

13、ta nt or decli ne? If your bus in ess is a fran chise, how is your market segme nted? Are your target markets large en ough to support your expa nsion? How will you attract, hold and in crease your market share? If you are afranchise, will the franchiser provide assistance in this area? What is your

14、 pric ing strategy? What research is there to support your bus in ess expectati ons?1.5Market StrategyIt is esse ntial to show that there is a sou nd customer base for the bus in ess.? How you have carried out your customer and market research? In clude where you got your in formatio n from.? What u

15、ni que selli ng propositi on (USP) do you have that you expect your customers to resp ond to?For more information about USPs and Guarantees, please see our video on Marketingyour bus in ess .1.6Key Financial ObjectivesEffective finan cial man ageme nt requires you to pla n a sou nd, realistic budget

16、 for your bus in ess. If you re start ing a new bus in ess, first devise a start -up budget. This willinclude one-off costs like official registration, major equipment, rental and utility bond payments. Your operating budget then estimates how much it will cost to keep it open.Summarise the key info

17、rmation contained in the financial plan here:?What major in vestme nts will be required to get your bus in ess off the grou nd?Whe n will you begi n to break eve n?What finan cial data have you based your estimates on? Is there comparablein dustry data to back them up?1.7Business StructureWhen choos

18、ing your ownership structure, it s important to weigh up the risks and costsof the available opti ons. You can find more in formati on on bus in ess structureshere .Provide a clear description of the ownership structure and why you ve chosene.g.sole trader, partnership, company (this should include

19、your exit strategy). Also outline other ways youll protect your bus in ess, e.g. trademarks, pate nts, registeri ng a website address.Page 6 of 14| 9 August 2020 | Business Plan1.8Management & OwnershipThough they can t be listed on the balanee sheet, people are the chief asset in anybus in ess. You

20、r experie nee and expertise, together with that of your man ageme nt team, staff and con tractors, are the key value adders in your bus in ess. Provide the followi ng in formati on about yourself and your team:? What specialised skills and expertise are you and your people bri nging into the bus in

21、ess? What other releva nt experie nee does your team have? What will each pers on in the team be resp on sible for?What other staff or con tractors will be required? How much will they get payed?1.9Key ObjectivesList ing your key objectives gives the readers of your bus in ess pla n an in sight into

22、 whereyou re tak ing your bus in ess and what you re measuri ng your success or failure aga in st.Make sure your objectives can be proven and measured. Clickhere for morein formati on about develop ing your key objectives for success.Your key objectives should be SMART:S pecific, Measurable, Achieva

23、ble, Realistic, Timely.Your key objectives should describe what you want to achieve in each fun cti onalbus in ess area. For example:? Finan cial targets - To achieve a 5% in crease in net profit over the n ext 6 mon ths.?Sales targets -To sell 100 un its per week for the n ext 6 mon ths.?HR targets

24、-To build your team to 3 people over the n ext 6 mon ths.? Customer satisfacti on To maintain and expa nd your reputati on for high quality service and sales by creati ng an in ternal trai ning and skills developme nt program for staff.Page 7 of 14| 9 August 2020 | Business Planustomers website ,2.

25、Detailed Plan2.1Target Market (Customer Analysis)Iden tify your target market(s) and describe your customers. Refere nee any research findings which back up your choice of segments. It is essential to show that there is a sou nd customer base for the bus in ess. Expla in how you have carried out you

26、r customer and market research, in cludi ng in formati on sources. This should in clude the uni que selli ng propositi on you expect your customers to resp ond to.There are a n umber of resources you can use to find out more about your c and prospects. A good place to start is the Australian Bureau

27、of Statistics where you can find lots of information sorted by demographic and geographical location.1.How old are your customers?2.Are they male or female, or both?3.What level are they educated to?4.Where do they live?5.What do they ear n?6.How much of their in come is disposable?2.2The Competitor

28、Outl ine your known direct and in direct competitors and how youll positi on your product or service aga inst them. Knowing who your competiti on is can be as importa nt as knowing your own product.Ask yourself:1.Who are your five n earest direct competitors?2.Who are your in direct competitors? (Th

29、ese are bus in esses which might not produce the same product or service as you, but could reduce your market share with an alter native offer in g.)3.How are their bus in esses develop ing? Are they steady? In creas ing? Decreas ing?4.What have you lear ned from their operati ons? From their advert

30、is ing?5.What are their stre ngths and weak nesses?6.How do you compare on:?Prici ng? Product?Promotio n?Distributio n?2.3Product/ServiceDefine and describe the product or service that you re offering and how it will bedisplayed or made available to best appeal to your customers. Discuss:?Bra nding?

31、Packag ing (where applicable)?Ongoing product or service developme nt? Any other importa nt characteristicsWhat are their features and their ben efits, and how do they compare to the major competitors?Page 8 of 14| 9 August 2020 | Business PlanAsk yourself how your products an d/or services are goin

32、g to appeal to your target market and how much of it you ll be able to sell.1.What is it?2.How much does it cost? How much are you going to charge for it?3.How does it add value to customers lives?4.Is it a n ecessity or a discreti onary purchase?5.How much of it are people likely to buy and at what

33、 intervals?6.Is there pote ntial to grow the market by develop ing the product or serviceofferi ng?2.4Product or Service ProductionDescribe how your product(s) or services(s) are being produced and costed.?Are they being man ufactured? Bought in? Break dow n service charges andimport costs.? Why are

34、 the product(s) or services(s) being produced and costed the way they are?In clude your bus in ess deali ngs with your supplier/s.Your pricing strategy is another marketing technique you can use to give yourself a competitive edge. Get a feel for the prices your competitors are offering. Determine w

35、hether your prices are in line with competitors in your market area and in line with in dustry averages.Some pric ing strategies are:?Parity pric ing (offeri ng a similar price to your competitor)?Pric ing below competiti on?Pric ing above competiti on? Service marg ins as a perce ntage of the costs

36、 of:-Service comp onents-Material costs-Labour costs-Overhead costsA price/quali ty matrix will help you to review your competitorspric ing strategies.Determine which of the strategies they use, if it is effective and why it is effective.Page 9 of 14| 9 August 2020 | Business PlanPRICE/ QUALITY MATR

37、IXSALES APPEALSPrice/QualityHighMediumLowHigh Rolls Royce strategy We try harder strategyBest buy strategyMediumOutperforms strategyPiece of the rockstrategySmart shopper strategyLowFeature packed strategyKeeps on tickingstrategyBargain hunterstrategy2.5SWOT AnalysisA SWOT (stre ngths, weak nesses,

38、opportu nities and threats) an alysis should give directi on to the bus in ess and its market ing strategies.Describe your bus in esses stre ngths, weak nesses, etc, and what each means to the directi on and tactical running of the bus in ess.? Stren gths are the thi ngs you do best and which give y

39、ou an adva ntage over your competiti on.?Weak nesses are areas of the bus in ess that n eed to be acted on.?Opportu nities show the marketplace areas that can be built on.? Threats are issues that could affect the success of the bus in ess.Cen tral locati onNew to the areaCompetitively pricedUn fami

40、liar bus in ess to localsLarge kno wledge baseOffer discounts to near-by University staff and stude ntsIn terest rate rises will curb spe nding by families/employeesAggressive advertis ingNot keep ing on top of latest trends and tech no logy developme ntsOn li ne market ingNearest specialised compet

41、itor shop is only 1.5km awayPage 10 of 14| 9 August 2020 | Business Plan3. Finan cial pla n3.1Key Objectives and Financial ReviewGetting your financials straight is a crucial step in starting or maintaining the operations and profitability of your bus in ess.List the key objectives that are esse nti

42、al for your bus in ess to achieve. Expla in the basic finan cial n eeds of the bus in ess, start ing with the in itial capital, your expected in come and your expected cash n eeds.Define what your near term and long term financial goals are. Specify the time period in which you expect to achieve eac

43、h goal. Your goals should be as realistic as possible and take into accou nt any loa ns you have take n on to finance the bus in ess.For example:Sales & Marketi ng:? To achieve sales in the first quarter of $150,000.? To achieve sales in the sec ond quarter of $200,000.? To achieve 30% market share

44、in the first two years.Finan ce:? To reduce the overdraft from $250,000 to $150,000 over the first two quarters.? To reduce bank loa n repayme nt in terest rate from 10% to 7.5%.3.2Establishment CostsBefore you make the decisi on to start a bus in ess, you may n eed to in cur costs for research, loc

45、ati on scouti ng, build ing in specti ons, purchase partner meeti ngs and the like. Record what you have spe nt or expect to spe nd below.Exploratory costs$Accomodati onAccou nti ng fees1 1Bus in ess Pla nningCon sulta ntsEn tertai nmentLegal FeesMarket ResearchPho ne, fax, letters, copy ingPublicat

46、i onsSamplesTravelValuati on feesEtcTotal exploratory costs0Page 11 of 14| 9 August 2020 | Business PlanInitial costs$WagesOpening stockCredit card commission feeLease:Legal CostsStamp dutyRent in advanceBondPromotional premiumLoans, establishment costsElectrictiy, gas and phoneConnectionsSecurity d

47、epositsStationery and office suppliesComputer softwareInstallationTrainingStatutory chargesLicencesPermitsRegistrationsSubscriptions to publicationsAssociation membership feesInsurance premiums:Property damagePublic riskVehicle damageTheftPersonal disabilityProfessional indemnityPrinting and artwork

48、EtcTotal initial costs0Captial costs$Purchase price of bus in essFran chise feeTrai ningOffice Equipme ntDesksChairsSafeComputersFax, pho ne systemVehiclesPla nt and machi neryPurchase price/depositDeliveryRepairsIn stallati on /commissi oningShop fitt ingsCoun tersRacks, shelvi ngStorageDecorati on

49、sSecurity SystemBusin ess Structure:Registrati onProfessi onal FeesTrademark/desig n/pate ntsRegistrati onsPate nt attor ney feesRefere nce materialsLandBuildi ng costs:Shop frontPartiti onsElectrical wiring and fittingsFloor coveri ngsToilets, plumbing and drainage :Pai nti ngSig nageEtcTotal Capit

50、al Costso|Page 12 of 14| 9 August 2020 | Business Plan3.3Income Projection Statement (Profit andLoss)The in come projecti on (profit and loss) stateme nt is valuable as both a pla nning tooland a key man ageme nt tool to help con trol bus in ess operati on s. It en ables theown er/ma nager to develo

51、p a preview of the amou nt of in come generated each monthand for the bus in ess year, based on reas on able predicti ons of mon thly sales, costs and expe nses. A completed in come stateme nt allows the own er/ma nager to compare actual figures with mon thly projecti ons and to take steps to correc

52、t any problems.Prepare this stateme nt on a month by month basis, using the actual figures to adjustyour forecast figures and in clude the establishme nt costs you listed above.It is important not to overestimate the sales revenue and underestimate the costs. Give careful thought to the headi ngs, p

53、articularly the expe nses. Expa nd the sales reve nue and expe nses area if your bus in ess has disti net categories. You can dow nl oad an In come Projectio n Stateme nt Template for your bus in esshere .3.4Cash FlowA cash flow statement will reflect how much money is required to set up and start t

54、hebus in ess, and is critical to gett ing future finan ce. It will show how much cash isavailable after all the bills have been paid. You need to explain where the money will be coming from. You can dow nl oad a Cash Flow Forecast Template for your bus in esshere .3.5Balance SheetA Balance Sheet bri

55、ngs together the results from the Profit & Loss Statement and theCash Flow Stateme nt. The Bala nce Sheet gets its n ame from its key characteristic: italways bala nces. The equati on which describes this is: Assets = Liabilities + OwnersEquity. You can dow nl oad a Bala nce Sheet Template for your

56、bus in esshere .Page 13 of 14| 9 August 2020 | Business Planres$60$403.6Break-even analysisYour break-eve n point is the amou nt of money you n eed to make on sales to cover your fixed costs. The hardest part of a break-even analysis is figuring out which of your costs are fixed and which are variab

57、le. Some costs are a comb in ati on of both. In this case you II need to work out how much of the costis fixed.For example, having one staff member in your shop during opening hours is a fixed cost.They re there whether or not you have any customers. But casual staff are a variable cost. You only ro

58、ster and pay them whe n you expect to make more sales.To calculate your break-eve n point, add up your fixed costs. These are the costs which don t go down when you produce or provide less of your product or service. Refer to the In come Stateme nt to help you decide which costs are fixed.Once you ve got this number, you ve basically got your break -even point. If your gross profit margin equals your fixed costs, and you re not making a profit or a loss, youbreaking ev en. If you ve got money left