(YOUR BUSINESS NAME) BUSINESS PLAN Prepared by

Transcript:(YOUR BUSINESS NAME) BUSINESS PLAN Prepared by:
(YOUR BUSINESS NAME) BUSINESS PLAN Prepared by [You, Job Title] First prepared: (Date) Last updated: (Date) Executive summary Write the Executive summary last and give a topline description of: In the most basic terms, what is the business? Is it a product or a service? What does it do and how? Why is there a need for this business? What does this business do better than similar existing businesses? What experience or skills do you have that will help make this business a success? How will it make money? Who will your customers be? Who are your main competitors? How will people find out about you? What is the opportunity for investors? Business details Describe your what, where, who and why - including your product/service, brand, location, business model and size. Make an extensive list of all your products/services/revenue streams (all the ways your business can possibly make money). What will the legal structure of your company be (LTD, PLC, sole trader, partnership, charity, social enterprise)? Marketing and sales strategy MARKET CONDITIONS AND COMPETITION You can include your gut instincts about the market here and what you know, but be sure to also back this up with evidence and research. Who are your biggest competitors? (Bear in mind competitors don’t always have to be exactly the same type of business, but something that people might spend their money on instead of your product). How do your competitors market and price themselves? How much is currently spent in your industry and what is demand like? What are the barriers to entry? What trends are happening internationally within similar businesses (maybe in countries like the US who may be further ahead)? Marketing and sales strategy TARGET MARKET Who is your target market? Create a customer profile with as much detail as possible about your ideal customer. Make a list of friends, clients, business contacts, companies to target that might buy from you and include any current customers. Can you think of any other possible types of customer? For example: if you make jewellery, as well as selling it directly to the customer you could consider selling wholesale to other businesses, or starting jewellery making classes. Marketing and sales strategy OUR BRAND What is your brand’s personality and characteristics? What does it stand for? What’s your mission statement? Do you have a tone or voice and brand guidelines? How will your brand do