Your Company Name Will Be Inserted Here

Business Planning

Background: The ‘Blank Business Plan’ document has been created to enable you to adopt a standard approach to producing a Business Plan. Use the document to record relevant information about your business. Suggestions about the type of information to include are shown section by section in the example below. The document has been created in Microsoft Word to allow you to amend, add and delete information. Keep this sheet and the example ‘Business Plan’ for future reference.

How to use the When completing the plan delete any of the fields that do not apply. To delete document: fields: 1. Select the relevant field. 2. With the field highlighted select ‘Table’ on the main menu bar. 3. Select ‘Delete’ from the drop down menu list. 4. Select ‘Rows’ from the next drop down menu.

Also note that the each of the sections contains a field for you to type text into. As you continue to type the fields will automatically expand to include the content. Section headings are set to remain at the top of the relevant page.

To use the ‘Blank Business Plan’ do the following: Step 1: Open the ‘Blank Business Plan’ document. Step 2: Save the document as a file on your PC. Step 3: Refer to the example ‘Business Plan’. Identify what you are going to use the business plan for. You may be using it for raising funds or managing the business. How you are going to use the business plan should be reflected in the tone and focus of the plan. Step 4: Produce a first draft of your own business plan by going through the plan section-by-section, adding, changing and deleting as appropriate. Focus on the following:  Front cover – follow instructions to include your business name and a date  Contact Details – add your own details and delete fields if necessary.  Contents list – should remain unchanged. You can however delete or amend this if necessary  Sections 1 –7 follow the suggestions in the example and include relevant information in each section Step 5: Read the first draft to check that it is easy to understand. Also, proof read for consistency, layout, grammar and spelling. Step 6: Amend the first draft and then check and proof read the second draft. If possible, get a third party to read the business plan. A fresh pair of eyes will often pick up something you have missed. Step 7: Produce the final draft as professionally as possible. Insert it into a good quality binder. Business Plan

Your company name will be inserted here

The date your business plan was produced will be inserted here Contact Details

Name of contact: Your details will inserted into these fields

Address:

Telephone number:

Fax number:

Email address:

Are you applying for YES NO funding? (please indicate) Contents

Section 1 - Summary

Section 2 - The Business

Section 3 - The Present

Section 4 - The Future

Section 5 - Actions

Section 6 - Finances

Section 7 - Appendices

Section 8 – Supporting Documents Section 1 Executive Summary

This section should contain an overview of the main points of the business plan.

1.1 Overview of the Summary of the range of services provided. Also describe what differentiates service: your service from its competitors – the reasons why customers will choose you.

1.2 Current position Consider including the following: of the business:  Brief history of the business idea and how you came about the idea  Location  The number and type of customer you expect to sell to  The number of employees within a year after you set up  Financial forecast summary – e.g. annual turnover  Competitors

1.3 Future goals Include a summary of the main goals such as developing products, generating sales or developing new services.

1.4 Outline of Include: financial forecasts  Sales projections  Summary of expenditure  Profit projections  Cash required to start or grow the business  Summary of any grants or other assistance being sought

1.5 Outline of Summary of the market and opportunities that exist and why you think your opportunities to idea is special – you unique selling proposition. develop or expand the business

1.6 Additional Summary of products/services and their features and benefits. services to be developed

1.7 Potential Brief description of potential customers. For example new housing being customers built or new businesses opened in the area that will bring new people to the area. Or demographic trends that will increase the number of places needed.

1.8 Proposed A brief outline of the major activities such as increasing the number of changes to employees to cope with increased business activity, or using space in operational activities different ways.

Section 2 The Business This section contains an overview of the business at the current time.

2.1 Background Consider including a brief history of the business idea – how it was developed, why and by whom.

2.2 Our mission: Summary of the overall aims of the business and how it serves the market.

2.3 The team: Provide an overview of the team including:

 Numbers of employees  Details of any volunteers, if applicable  Qualifications and experience  Who the key people are and what they do

2.4 Our service: Provide details of the range of services being offered. Include:

 Demographics catered for  Numbers engaged  What the services entail  The hours and days covered  Any special provisions

2.5 How we operate: Provide details of how the business is to be run and managed on a day-to- day basis. Also include details of the facilities.

2.6 Location Provide details of the location of the business and the reason for your choice of location. Section 3 The Present

This section contains an overview of the business idea at the current time.

3.1 Current Outline the following: market:  Your competitors  Your customers  Market trends  The size of the overall market  The current share of the market occupied by the business when up and running

3.2 Current Include the previous year’s trading figures if you have any. trading: Also include details of your pricing strategy and why you have adopted your approach to pricing.

3.3 Current Outline what you will do to attract and retain customers. marketing/sales activities: 3.4 Options Analysis Outline the alternative options considered when developing the business plan and explain why these options are not applicable. State the preferred option for the business and justification why this is the best solution.

3.5 Risk Analysis Outline the foreseeable risks for the business and what actions you plan to implement to reduce these risks. Seek to prioritise these risks. Examples of such risk would include: lack of sales, cost over-runs, staffing problems.

SWOT Analysis Analyse your business’s Strengths and Weaknesses and then your Opportunities and Threats. Doing a good SWOT analysis allows you to maximise your strengths and take available Opportunities in order to meet the needs of particular customers – compared to your competitors. It also allows you to develop ways of overcoming any weaknesses and being prepared for any Threats.

 What are your Strengths?  What are Your Weaknesses?  What opportunities are open to you?  What threats are you potentially faced with?  What actions will you take to overcome your weaknesses and threats? Section 4 The Future – 12 to 24 months

This section contains an overview of the future goals over 12-24 months of the business and how it will develop.

4.1 Include relevant information obtained from market research, such as the likely overall Summary of market size, trends, competitors and seasonal variations. Also, include any analysis the future undertaken such as competitor analysis or a SWOT (strengths, weaknesses, opportunity market and threats) analysis of the business. This will enable your own goals to be viewed in the context of the overall market. place

4.2 Include how the business will be run e.g., introducing new improved working practices Operational and procedures, new products, staffing etc. goals

4.3 Include realistic forecasts and supporting details such as projected volume of sales. Financial goals

4.4 Sales Include your marketing plan and pricing strategy. and marketing Timing of new client acquisition goals Plans using e-commerce, social media and other low cost marketing strategies.

4.5 Outline the contribution of key members of the team. Employee goals Section 5 Actions

This section contains an overview of the action required to achieve the goals of the business.

5.1 Sales and Include details of the sales and marketing activities such as advertising, open marketing plans days that will enable the business to attract and retain customers.

5.2 Operational Include the following: plans  Details of operational activities that will enable the business to provide a quality service  Details of the action needed to implement developments and changes to the delivery of the service  Changes or additions to staff  Changes or additions to premises, resources or facilities

Section 6 Finance

This section contains an overview of the business finances for the period covered by the plan.

6.1 Budget Include an overview of the annual budget for the business. If appropriate include the complete budget in the appendices section. Detail any assumptions and include examples to prove your figures. Also include details of any financing required, the purpose, the amount and how it will be paid back.

6.2 Sales forecast Outline the forecasts and detail any assumptions. Please use the supplied spreadsheet which can help with the development of these forecasts.

6.3 Cash flow Include a summary of the forecast and an explanation of any potential problems. forecast Also detail how the business will deal with the problems such as taking out a loan or using an overdraft facility. Again use the supplied spreadsheet to complete this. Section 7 Appendices

This section contains relevant information that supports assumptions and statements about the business contained within the business plan. Reference to these documents is made in the relevant section of the plan.

7.1 Appendices: Examples include:  Details about key team members (if not included in Section 2.3)

 Details about professional advisers

 Market research surveys

 Consultant’s reports

 Relevant information about registrations

 Current waiting list for places

 Accounts, if available  Detailed financial forecasts

Section 8 Supporting Documents

All applicants who wish to apply for ‘Be the Boss’ core funding must supply a number of documents to support their application. These documents should be gathered before submitting a completed business plan in order to ensure that we can assess all applications for funding in a timely manner.

It is not required to submit all of these documents to your business advisor at this stage, however, please use the checklist below to indicate that you are able to provide them when required.

8.1 Supporting Document Please submit the following documents to your business advisor Checklist: alongside your business plan:  Personal Survival Budget Planner for all Owners, Partners & Directors

 CV for each applicant, all Owners, Partners, Directors & Core Staff

 Cash Flow Forecast (minimum of 1 year)

 Profit and Loss Forecast/Account (minimum of 1 year)

 Letters of Intent

 Evidence of Contracts (if applicable)

 Evidence of Franchise Agreements (if applicable)

 Quotes for equipment, tools & marketing material

 Annual Accounts (only if applying for growth funding)

Please make sure that you have gathered the following documents, you will be required to submit these at a later stage:

 Personal Bank Account Statements (minimum of last 3 months)

 Business Bank Statements (if an existing business, minimum last of 6 months)

 Personal Credit Report (For all Applicants, Directors, or Shareholders)

 De-Minimis State Aid Declaration Form

 Copy of HM Armed Forces Discharge Papers

 Schedule of Debtors/Creditors (if applicable)