www.mavisamankwah.com
Business Plan Template
Name:
Business Name:
Date:
Author:
Version 1 - Oct 2015
Executive Summary
-
Summarize business idea
Describe market gap or need for the business
State how the business will address the gap
Why will it be successful?
Form of Incorporation:
In this section please state the legal structure of your proposed business
i.e. would you be trading as a:
i) Sole Trader ( a one person entity)
ii) Partnership (going into business with another person(s); please indicate
the percentage of ownership.
iii) Private limited company; is the company registered? Also, please state
who the shareholders are and if you are the only one please say so
iiii) Other – please state
Mission Statement
The mission statement defines the reason why the business or company
exists.
Example (1)
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The business proposes to manufacture top quality footwear at affordable
prices that are readily available to all customers irrespective of their
disposable income.
Example (2)
To become the first choice for quality, reliable and affordable services in
the market.
Business Objectives
Example (1)
To grow the business at a rate of??% in turnover and??% in profitability
Example (2)
To open branches locally, regionally and nationally, and export my product
or service to overseas markets.
What is the current turnover or projected turnover?
What loan amount do you require and what will the loan be used for?
Products and Services
State in brief the products and services you are going to manufacture or
sell
Example ( 1 ) As a plumber, the services that I plan to offer includes
installation of new baths, flushing of central heating systems, dealing with
blocked drains and sinks.
Example ( 2 ) The services that I plan to offer in my salon includes wash,
blow/dry, extensions and barbering.
1.3 Customers
Describe in brief who are your target customers
Example (1 ) My target customers’ will be general households, and I’ll be
focusing from the start on my local and regional areas in Walthamstow,
and North London.
Example (2 ) In my hairdressing business I will be targeting professional
people aged 25 to 40 with high levels of disposable income. These women
and some men, regularly visit hairdressing and beauty salons, because
they desire to look goods at all times.
Market Overview
In this section you must show that you understand the industry or the
sector that you are going into, for instance, what are the technological
development taking place i.e. there are fewer people now using postage
because of the Internet; who are the major players in the market and who
are your Direct Competitors?; Are there any current and proposed
legislation likely to impact the market? (i.e. are you aware of any new
laws that could affect the business?).
Market Research
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What - Clearly defined product/service
- Evidence of market testing/orders to prove concept.
- Identified necessary supplier networks to deliver product
Who - Clearly defined target market
- High Street Retail - footfall analysis
Why - Why would people want to part from their
money to buy the product/service
Competition
What is your Unique Selling Point (USP)? What makes you stand-out from
your competitors? List your competitors, along with any relevant details.
Here you should name your direct competitors and state how much you know
about them for instance, their strengths and weaknesses, their prices, the
quality of their products/services, their location, and method of service or
product delivery
Name of
Strengths
Weaknesses
Price
Competitors
Marketing Strategy:
How do you intend to reach your target market? This can include
marketing strategies like social media, advertising and leaflet drops.
1.0
Start-up Summary
Start-up Funding:
Please state how much you require on your cash flow forecast overall to
start-up, give a breakdown of how it will be spent and detail all other
sources of finance if any (this can include savings, bank loans, financial
support from family and friends)
SWOT ANALYSIS
Please complete a SWOT analysis of your business idea/venture. Highlight
the strengths, weaknesses along with opportunities and threats.
Strengths:
Weaknesses:
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Opportunities:
Threats:
Current position
What have you achieved so far?
Outline the current position of your business: where is your business in
the business lifecycle (introductory phase, growth phase, mature,
declining)?
Describe the current reach of your business and explain how this business
plan with a start up loan will change that. Give an overview of your goals
and the future plans for your business.
Skills and experience
Describe you or your team’s qualifications, skills, business track record
and overall experience of your industry/sector.
Financial budgets and forecasts
Attach completed cashflow forecast
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