Business Plan Template Business Gateway Business
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Summary
Name:Business Plan for:(Please use this template in conjunction with the guide Prepare a business plan)Document Version:Date:Completed by: Business plan contentsExecutive Summary…………………………………………………………………………………………………………….31 Executive summary ......................................................................................................................................................... 32 Business details ............................................................................................................................................................... 43 Key personnel ................................................................................................................................................................. 5Vision .............................................................................................................................................................................. 64 The business idea ............................................................................................................................................................ 65 Business goals ................................................................................................................................................................. 66 What the business does .................................................................................................................................................. 77 What makes the business different ................................................................................................................................ 78 Legal requirements ......................................................................................................................................................... 7Marketing...................................................................................................................................................................... 89 Market research .............................................................................................................................................................. 810 Profiling customers ....................................................................................................................................................... 811 Profiling competitors .................................................................................................................................................... 912 Managing market risks .................................................................................................................................................. 913 Pricing............................................................................................................................................................................ 914 Promotion and advertising .........................................................................................................................................10Running the business.............................................................................................................................................1115 Staff .............................................................................................................................................................................1216 Premises ......................................................................................................................................................................1217 Suppliers......................................................................................................................................................................1218 Equipment ...................................................................................................................................................................1319 Managing operational risks ........................................................................................................................................13Finance .........................................................................................................................................................................1420 Start-up costs ..............................................................................................................................................................1421 Profit and loss forecast ...............................................................................................................................................1622 Sourcing finance..........................................................................................................................................................1723 Managing financial risks..............................................................................................................................................1724 Cash flow forecast .......................................................................................................................................................18 1 Executive summary (We suggest you complete this section after you have completed the othersections of the Business Plan)
2 Business detailsCompany name:Address:Telephone number:Legal status:The business will: (Provide a brief description of what your business will do) 3 Key personnelDetails of owner(s):Name:Position/main responsibilities:Experience and knowledge of our industry:Previous employment:Key skills brought to the business:Business experience and any training undertaken:Academic/professional qualifications:Most recent salary £Other key personnel (including shareholders):Name:Position/main responsibilities:Experience and knowledge of our industry:Previous employment:Key skills brought to the business:Business experience and any training undertaken:Academic/professional qualifications:Most recent salary £ Vision 4 The business idea Sum up your business idea: 5 Business goals 1. What do you want to achieve in your first year of business? (for example, turnover of £100,000 or trading at breakeven) • 2. Where do you see your business in 3-5 years’ time? • 6 What the business does Product/service Features Benefits • • • • • • • • • • • • • • • • • • • • •7 What makes the business differentYour product/service is unique or different compared with the competitionbecause: •8 Legal requirements (including regulations and licences particular to your business)The legal and insurance requirements that apply in your business are: 1
You will meet your legal and insurance requirements by: 1
Marketing 9 Market research Trends in your chosen market are: • How you know this: • 10 Profiling customers The customer groups you will be selling to are: 1
Your customer research has shown what your customers want is: 1
How you know this: • Number of customers you expect to win in each group and what they might pay: Group Number of Price they might customers pay per unit £ £ £ £ £ £ £ 11 Profiling competitors Competitor name Strengths Weaknesses • • • • • • • • • • • • • • •How you can improve on their offer and/or price(s): •12 Managing market risksWrite down the risks you have identified: 1
How will you manage these risks so that they become less of a threat: 1
13 PricingHow you can calculate your prices: • How your prices compare with the competition: Product/service Your price(s) Range of competitor prices (per unit) £ £ £ £ £ £ £ £ £ £ £ £ £ £Reasons for the difference between your price(s) and your competitors’ price(s): •14 Promotion and advertisingHow and where will you promote your product/service? • Running the business 15 Staff Role Total cost Necessary Specialist skills and/or experience qualifications • £ • • • £ • • • £ • • • £ • • • £ • • 16 Premises Cost £ Premises required at start-up: £ Premises required in the future (if different): £ 17 Suppliers Your key suppliers and their credit terms Supplier What you’ll buy from them Number of days’ credit • • • • • • • • • • • • • • • • • • • • • • • •
(The financial section of the template is intended for business planning purposes only. If financial tables are to be used for any other purpose other than cash flow management, then we strongly recommend you consult an accountant or tax advisor)
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Frequently Asked Questions
Where can i find a free business plan template?
Business Gateway offers a free business plan template that you can download and complete. You are more than twice as likely to get into business if you have a business plan. But it can be hard to know where to begin writing one.
How can i create a business plan for my small business?
Assign tasks and deadlines to keep everyone accountable and on track. There are also free business plan templates to help you determine your business’ legal structure, define your target audience, and map out your marketing plan. Explore all the business plan template options to find what suits your needs.
What are the business plan sections covered in this template?
The business plan sections covered in this template include: 1 Executive Summary 2 Company Description 3 Products and Services 4 Marketing Plan 5 Operational Plan 6 Management and Organization 7 Startup Expenses and Capitalization 8 Financial Plan 9 Appendices
What makes a good business plan?
A business plan does not only talk about goals and promises. The more accurate and factual your business plan is, the more reliable it will appear. With dedicated effort, you can convince anyone that your business's financial success is only a matter of time. Our free business plan template will help you achieve that.