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The
Business Plan - Starting Up a Business - or - Upgrade an Existing one
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You’ve got a business idea. You’ve decided to start a business in a small or large scale. You want to get going but don't know where to begin. There’s a lot more to a good business than a good idea. You need to think things through to maximise your chances of success. Are you the right person to run the business? Will customers like your product?
You’ve got a business idea. You’ve decided to start a business in a small or large scale. You want to get going but don't know where to begin. There’s a lot more to a good business than a good idea. You need to think things through to maximise your chances of success. Are you the right person to run the business? Will customers like your product?
A business plan will help you turn an
idea into a business. It needs you to think through all the parts of your
business to plan how everything will work. It will take a few weeks to write if
you’re going to do it properly. Some parts will be easier to complete than
others.
Stick at it because it’s not the final
document that’s important, it’s the process. Although you want to have a good
plan when you’re done, an OK plan is better than no plan.
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Martins Library Business Plan & Feasibility Study
The best business plans aren’t long and complex; they explain only the most important information – what you want to achieve, how you will get there and the things you need to do along the way.
It’s best to tackle a business plan in small chunks. Martins Library Business Plan Pack can help. This is the Business Plan divided into sections to help you develop your business idea. You can use the information in the Guide to help you complete the sections. Some of the sections of The Business Plan have tables to record the financial parts of your business. The tables are also available in MS Word and MS Excel format and the sums in these are automatic.
Martins Library Enterprise Programme
Martins Library has helped many young people to complete their business plans and start their own businesses. If you are aged 18–30 and unemployed or working fewer than 16 hours per week, then we might be able to help you. We have offices in Nigeria with a team of Enterprise Programme & Expert staff.
To take part, you need to be interested in self employment and have a business idea that you would like help to test and explore. The programme can then help you to see if your business idea will work and whether self employment is right for you. If through this process you find out it is, the programme can offer mentoring support and, if you really need it, financial support to start your business. However, if self employment turns out not to be the right option, the programme can offer support to secure other goals in employment, education, training or voluntary work.
We can’t guarantee that your business will work without a business plan or that we will be able to offer you money, but if you are up for a challenge and want our help to explore your business idea, get in touch by Contacting Us Today.
SAMPLE TEMPLATE FOR STANDARD BUSINESS PLAN FROM MARTINS LIBRARY
Getting started
Whose
plan is this?
Business and owner
details:
Business name:
Owner(s) name:
Business address and
postcode:
Business telephone number:
Business email address:
Home address and postcode
(if different from above):
Home telephone number (if
different from above):
Home email address (if
different from above):
Section one
Executive
summary
1.1 Business summary:
1.2 Business aims:
1.3 Financial summary:
Elevator
Pitch
1.4 Your business name:
1.5 Strapline:
1.6 Elevator pitch:
Section two
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 Details of future
training courses you want to complete:
2.5 Hobbies and
interests:
2.7 Additional
information:
Section three
Products
and services
3.1 What are you going to
sell?
both
3.2 Describe the basic
product/service you are going to sell:
3.3 Describe the
different types of product/service you are going to be selling:
3.4 If you are not going
to sell all your products/services at the start of your business, explain why
not and when you will start selling them:
3.5 Additional
information:
Section four
The
market
4.1 Are your customers:
both
4.2 Describe your typical
customer:
4.3 Where are your
customers based?
4.4 What prompts your
customers to buy your product/service?
4.5 What factors help
your customers choose which business to buy from?
4.6 Have you sold
products/services to customers already? If you answered “yes”,
give details:
4.7 Have you got
customers waiting to buy your product/service? If you answered “yes”,
give details:
4.8 Additional
information.
Section five
Market
research
5.1 Key findings from
desk research:
5.2 Key findings from
field research – customer questionnaires:
5.3 Key findings from
field research – test trading:
5.4 Additional
information:
Section six
Marketing
strategy
What
are you going to do?
|
Why have you chosen this marketing method? |
How
much will it cost?
|
TOTAL
COST
|
Section seven
Competitor
analysis
7.1 Table of competitors
7.2 SWOT analysis :
Strengths
|
Weaknesses
|
Opportunities
|
Threats
|
7.3 Unique Selling Point
(USP):
Unique
Selling Point (USP)
|
Section eight
Operations
and logistics
8.1 Production:
8.2 Delivery to customers:
8.3 Payment methods and
terms:
8.4 Suppliers:
Name
and location of supplier
|
Items
required
and
prices
|
Payment
arrangements
|
Reasons
for choosing supplier
|
8.5 Premises:
8.6 Equipment
If being bought
|
||||
Item
required
|
Already
owned?
|
New
or second hand?
|
Purchased
from
|
Price
|
8.7 Transport:
8.8 Legal requirements:
8.9 Insurance
requirements:
8.10 Management and
staff:
8.11 Additional
information:
Section
nine
Costs
and pricing strategy
Product/service
name
|
||
A
|
Number
of units in calculation
|
|
B
|
Product/service
components
|
Components
cost
|
C
|
Total
product/service cost
|
|
D
|
Cost
per unit
|
|
E
|
Price
per unit
|
|
F
|
Profit
margin (£)
|
|
G
|
Profit
margin (%)
|
|
H
|
Mark
up (%)
|
Section ten
Financial
forecasts
10.1 Sales and costs
forecast
Month
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
9
|
10
|
11
|
12
|
TotaL
|
|
A
|
Month
name
|
|||||||||||||
Sales
forecast
|
||||||||||||||
B
|
Product/service
|
|||||||||||||
C
|
Product/service
|
|||||||||||||
Costs
forecast
|
||||||||||||||
D
|
Product/service
|
E
|
Assumptions
(e.g.
Seasonal trends)
|
10.2 Personal survival
budget
Section
|
Monthly
cost (£)
|
|
A
Estimated costs
|
Mortgage/rent
|
|
Council
tax
|
||
Gas,
electricity and oil
|
||
Water
rates
|
||
All
personal and property insurances
|
||
Clothing
|
||
Food
and housekeeping
|
||
Telephone
|
||
Hire
charges (TV, DVD etc.)
|
||
Subscriptions
(clubs, magazines etc.)
|
||
Entertainment
(meals and drinks)
|
||
Car
tax, insurance, service and maintenance
|
||
Children’s
expenditure and presents
|
||
Credit
card, loan and other personal debt repayments
|
||
National
Insurance
|
||
Other
|
||
B
|
Total
costs (£)
|
|
C
Estimated income
|
Income
from family/partner
|
|
Part
time job
|
||
Working
tax credit
|
||
Child
benefits
|
||
Other
benefits
|
||
Other
|
||
D
|
Total
income (£)
|
|
E
|
Total
survival income required (£)
|
10.3 Cashflow forecast
Month
|
Pre-start
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
9
|
10
|
11
|
12
|
Total
|
|
Month name
|
|||||||||||||||
Money in (£)
|
|||||||||||||||
B
|
Funding from The
Prince’s Trust
|
||||||||||||||
Funding from
other sources
|
|||||||||||||||
Own funds
|
|||||||||||||||
Incomes from Sales
|
|||||||||||||||
Other
|
|||||||||||||||
C
|
Total Money in (£)
|
||||||||||||||
Money out (£)
|
|||||||||||||||
D
|
Loan repayments
The Prince’s Trust
|
||||||||||||||
Personal drawings
|
|||||||||||||||
E
|
Total money out (£)
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||||||||||||||
F
|
Balance (£)
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||||||||||||||
Opening balance
|
|||||||||||||||
Closing balance
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10.4 Costs table
Cost item
|
What is included and how you worked it out
|
Total cost
|
Section eleven
Back-up
Plan
11.1 Short-term plan:
11.2 Long-term plan:
11.3 Plan B:
11.4 Plan B continued...:
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