Business plan. Things to Consider when Producing a Business Plan. What are you going to do? What do you need? How much is it going to cost? How much are.

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Presentation transcript:

Business plan

Things to Consider when Producing a Business Plan. What are you going to do? What do you need? How much is it going to cost? How much are you going to charge? Where is your market? What is your profit margin? When will you start making money? What makes you unique?

What are you going to do? Consider what product or service you intend to market, ask yourself; Do people want it. Will they pay for it. Does it already exist. What makes yours different.

What do you need? Think about what you need to get your idea off the ground; What skills do you need. What tools do you need. What people do you need. What services do you need (e.g. first aid, insurance, VAT, accountant) Do you need premises.

How much is it going to cost? Investigate the costs of your product or service, be realistic tools and services cost money. Consider contingencies; What happens if a customer does not pay you? What happens when you are on holiday? What happen if you get ill? What happens if work dries up? What happens if your work / product fails?

How much are you going to charge? When calculating the price you are going to charge you should consider set up costs. It would be unfair to charge your first customer the total cost of your set up fees, how long before you pay off you initial set up. What surplus are you looking to run at?

Where is your market? Plan where you are going to deliver / supply your product or service. Consider; The geographical area. The wealth of the area. The quality of your product or service. The clientele that you are aiming at.

What is your profit margin? What you make is not what you take home! Profit is what is left after you have payed out all of your on costs e.g.; Tax. Car / van repayments. Insurance. Fuel costs. Materials. Etc.

When will you start making money? Most companies work at a small loss or just covering costs when they first start off. What is the point when your company will start making money? Show calculations for these figures.

What makes you unique? Why should someone use your product or service and not someone else's? Do you have something that makes you more appealing? Remember completion is great and you need to stand out! E.g. all staff could be Criminal Record Background Checked enabling them to work around young people and vulnerable adults.