Shown here is a typical business plan template that could be used to produce a business plan. The template is quite substantial but there are smaller more concise versions out there on the net. I will not be using this template but it outlines all the major factors that must be considered when stepping out in the world of business
(Please use this template in conjunction with the guide Prepare
a business plan, where you will find information about how to use your
business plan as well as instructions
on how to use this template)
Document Version:
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Date:
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Completed by:
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Business plan contents
Executive summary
1 Executive summary (We suggest you complete
this section after you have completed the other sections of the Business Plan.)
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2 Business details
Company
name:
Address:
Telephone
number:
Legal
status:
The
business will: (Provide a brief description of what your business will
do.)
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3 Key personnel
Details
of owner(s):
Business
experience and any training undertaken:
Academic/professional
qualifications:
Most
recent salary £:
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Other
key personnel (including shareholders):
Name(s):
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/salaries £:
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Vision
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5 Business goals
What do
you want to achieve in your first year of business? (Use as many
fields as is applicable and add more if you need to.)
For example - business goals could include turnover of
£100,000 or trading at breakeven.
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·
·
·
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Where do you see
your business in 3-5 years’ time?
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6 What the business does
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7 What makes the business different
Your
product/service is unique or different compared with the competition because:
(Use as many fields as is
applicable and add more if you need to.)
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8 Legal requirements (including regulations and licences
particular to your business)
The
legal and insurance requirements that apply in your business are: (Use as many fields as is
applicable and add more if you need to.)
1.
2.
3.
4.
5.
You will meet your legal and insurance requirements by: (Use
as many fields as is applicable and add more if you need to.)
1.
2.
3.
4.
5.
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Sales and marketing
9 Market research
Trends in your chosen market are: (Use as many fields as is applicable and add more if you need to.)
1.
2.
3.
4.
5.
How you
know this: (Use as many fields as is applicable and add more if you
need to.)
1.
2.
3.
4.
5.
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10 Profiling customers
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Group
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Number
of customers
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Price
they might pay per unit
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£
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£
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£
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11 Profiling competitors
Use as many fields as is applicable in the table below and add more rows if you need to.
Competitor
name
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Strengths
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Weaknesses
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How you
can improve on their offer and/or price(s): (Use as many fields as is
applicable and add more if you need to.)
1.
2.
3.
4.
5.
12 Managing market risks
Write down the risks you have identified: (Use as many fields as is applicable and add more if you need to.)
1.
2.
3.
4.
5.
How will
you manage these risks so that they become less of a threat: (Use as many fields as is
applicable and add more if you need to.)
1.
2.
3.
4.
5.
13 Pricing
How you can calculate your prices: (Use as many fields as is applicable and add more if you need to.)
How you can calculate your prices: (Use as many fields as is applicable and add more if you need to.)
·
·
·
How your
prices compare with the competition: (Use as many fields as is
applicable in the table below and add more rows if you need to.)
Product/service
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Your
price(s)
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Range
of competitor prices (per unit)
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£
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£
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£
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£
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£
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£
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£
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£
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£
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£
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£
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£
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£
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£
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Reasons
for the difference between your price(s) and your competitors’ price(s):
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·
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14 Promotion and advertising
How and where will you promote your product/service? (Use as many fields as is applicable and add more if you need to.)
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Running the business
15 Staff
Use as many fields as is applicable in the table below and add more rows if you need to.
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16 Premises
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17 Suppliers
Your key
suppliers and their credit terms: (Use as many fields as is applicable
and add more rows if you need to.)
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18 Equipment
Use as many fields as is applicable and add more rows if you need to.
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19 Managing operational risks
Use as many fields as is applicable and add more if you need to.
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Finance
The finance section of this template is intended for business planning purposes only. If financial tables are to be used for any purpose other than internal financial management, we strongly recommend you consult an accountant or tax advisor.
The finance section of this template is intended for business planning purposes only. If financial tables are to be used for any purpose other than internal financial management, we strongly recommend you consult an accountant or tax advisor.
Click on the links
below to access a range of Microsoft Excel work sheets to input your figures,
Microsoft Excel will automatically update the totals for you. (If you do
not have access to Microsoft Excel you can save the files on to your PC. You
can then use Open Source Software such as Google
Docs or OpenOffice to access the
information by uploading the files into this software. We have provided Open
Document Format versions of the tables in this section as well.)
Please note
that all tables can be customised and additional rows and categories can be
added.
If you need to print out this business plan and the
associated tables (once you have completed them) eg to show your accountant or
your bank, place the tables behind the next pages in this template.
20 Start-up costs
Calculate how much money you need before you
start trading (This
helps you to calculate the costs of starting your new business.)
Personal
survival budget:
Estimated annual personal expenditure (This helps you work out the minimum amount you need to earn from your business in the first year and how much money you might need to borrow to start the business.) |
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21 Profit and loss forecast (Use the
tabs within the Microsoft Excel work sheet to view the second year and third
year forecast templates. The profit and loss forecast is more detailed at the
start because you should have a clearer idea of your profit and loss
expectations.)
Please note:
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Where the business holds and sells stock this
cost should be included in direct costs. It is calculated as: opening stock +
purchases - closing stock.
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If you are VAT registered all sales and costs
records should be entered excluding VAT. If you are not VAT registered
then you will need to include VAT in your costs where it is charged. For information about VAT, VAT threshold,
VAT schemes and turnover threshold, please visit the HMRC website: VAT
rates, thresholds, fuel scale charges, exchange rates.
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22 Sourcing finance
Total borrowing requirement for the business (This helps you to understand how much money you will need to find in order to close the gap between your start-up costs as well as the costs of operating before your business will make a profit, and the money that you have available to put into the business yourself.) Download the sourcing finance table in Microsoft Excel format (XLS, 46 KB) |
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23 Managing financial risks (such as, sales are less than forecasted or start-up
finance takes three months longer to obtain)
The risks that you have identified for your financial forecast are: (Use as many fields as is applicable and add more if you need to.)
1.
2.
3.
4.
5.
How you will minimise their impact: (Use as many
fields as is applicable and add more if you need to.)
1.
2.
3.
4.
5.
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24 Cashflow forecast (Use the tabs within the Microsoft Excel work sheet
to view the second 6 months and summary)
You only need to complete the VAT line in the cashflow
forecast if you are VAT registered. For information about VAT, VAT threshold,
VAT schemes and turnover threshold, please visit the HMRC website: VAT
rates, thresholds, fuel scale charges, exchange rates
Please note
that if you are VAT registered all sales and costs records should be entered
excluding VAT. If you are not VAT registered then you will need to
include VAT in your costs where it is charged.
Download the cashflow forecast table in Microsoft Excel format (XLS, 64 KB) |
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