Business name:

Student number:

Word count:

The Business Plan

Contents

Business owner details 2

Executive summary 2

1.1 Business summary: 2

1.2 Business aims: 2

1.3 Financial summary: 2

Owner’s background 3

2.1 Why do you want to run your own business? 3

2.2 Previous work experience: 3

2.3 Qualifications and education: 3

2.4 Training: 3

2.5 Hobbies and interests: 3

Products and services 4

3.1 What are you going to sell? 4

3.2 Describe the product(s)/service(s) you are going to sell: 4

3.3 Opportunity map for your business idea 4

The market 5

4.1 Who are your target customers: 5

4.3 Where are your customers based? 5

4.4 What factors influence customer demand for the product/service you intend to sell? 5

4.5 What factors influence which business your potential customers buy from? 5

Market research 6

5.1 Key findings from desk (secondary) research: 6

5.2 Key findings from field (primary) research – customer questionnaires: 6

5.3 Additional information: 6

6. Marketing Mix 7

7. Competitor analysis 8

7.1 Table of competitors 8

7.2 SWOT analysis of your business in comparison to your main competitors 9

7.3 Unique Selling Point (USP): 9

8. Operations and logistics 10

8.1 Production: 10

8.2 Suppliers: 10

8.3 Premises: 10

8.4 Equipment 10

8.5 Transport: 10

8.6 Legal requirements: 10

8.7 Insurance requirements: 10

8.8 Management and staff: 11

8.9 Additional information: 11

9. Costs and pricing strategy 11

Cashflow forecast 12

Reference list 13

Business owner details

Owner name: Not required for assessment purposes as the assessment is anonymous

Address: Not required for assessment purposes as the assessment is anonymous

Executive summary

1.1 Business summary:

1.2 Business aims:

1.3 Financial summary:

Owner’s background

2.1 Why do you want to run your own business?

2.2 Previous work experience:

2.3 Qualifications and education:

2.4 Training:

(completed and/or future training courses you want to complete)

2.5 Hobbies and interests:

Products and services

3.1 What are you going to sell?

a product

a service

both

3.2 Describe the product(s)/service(s) you are going to sell:

3.3 Opportunity map for your business idea

The market

4.1 Who are your target customers:

individuals

businesses

both

4.2 Describe your typical customer: (e.g. age, gender, occupational status, home owner/tenant etc. if a business – micro, small, medium, large; sector, type of business activity)

4.3 Where are your customers based?

4.4 What factors influence customer demand for the product/service you intend to sell?

4.5 What factors influence which business your potential customers buy from?

Market research

5.1 Key findings from desk (secondary) research:

(this can include an overview of the market/sector in general. Mintel and FAME are useful sources.)

5.2 Key findings from field (primary) research – customer questionnaires:

5.3 Additional information:

(e.g. PESTLE and how it may impact the success of your business idea)

6. Marketing Mix

Explain the 4 Ps for your product or service as a minimum (you may use the extended marketing mix if you wish)

Explain each P

Why have you chosen this method? What are the benefits, what are the potential drawbacks?

Estimated costs for promotions and place

Product (or service)

(Overview of key features)

Pricing

(What price and why)

Promotional mix

(Type of promotions and/or advertising)

Place (location)

(Where will you operate from – physical premises/online/both)

TOTAL COST

Insert more rows if you wish

7. Competitor analysis

7.1 Table of competitors

(TWO competitors are required based on secondary research)

Name, location

and business size

Product/service

Price

Strengths

Weaknesses

7.2 SWOT analysis of your business in comparison to your main competitors

(Strengths and weaknesses are internal; opportunities and threats are external)

Strengths

Weaknesses

Opportunities

Threats

7.3 Unique Selling Point (USP):

(What makes your business stand out from the competition?)

Unique Selling Point (USP)

8. Operations and logistics

Are you making the product or buying it for resale

8.1 Production:

(If you are buying finished items for resale, leave this blank)

8.2 Suppliers:

Name and location of supplier

Items required

and prices

Payment arrangements

Reasons for choosing supplier

8.3 Premises:

(If you are working from your residency, state your premises as personal residence; if you are operating online, you still need to operate from premises, but you may not incur rent)

8.4 Equipment

(If you are operating an online business, you will need office equipment and IT equipment; if you are producing products you will need the equipment to make them)

If being bought

Item required

Already owned?

New or second hand?

Purchased from

Price

8.5 Transport:

(Method of distribution, can include online distribution)

8.6 Legal requirements:

(You are a sole trader, provide details of how to set up as a sole trader)

8.7 Insurance requirements:

8.8 Management and staff:

8.9 Additional information:

(This is relevant if your business requires particular licences such as a food and beverage retailer etc.)

9. Costs and pricing strategy

Calculate the variable cost of one product or the one service (the variable cost = direct costs of production and not the overheads)

Product/service name

Product/service components per unit (item)

Total product/service cost per unit

Price per unit

Profit margin (£) (price – cost)

Profit margin (%) (profit divided by price multiplied by 100)

Cashflow forecast

Month

Pre-start

Total

Month name

Money in (£)

Funding from external sources

Own funds

Income from Sales

Other

Total Money in (£)

Money out (£)

Expenses

Total money out (£)

Balance (£) C-E

Opening balance

Closing balance

Reference list

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