Business plan. Things to Consider when Producing a Business Plan. What are you going to do? What do...
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Transcript of Business plan. Things to Consider when Producing a Business Plan. What are you going to do? What do...
![Page 1: 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.](https://reader036.fdocuments.in/reader036/viewer/2022082713/5697bff21a28abf838cbb9cf/html5/thumbnails/1.jpg)
Business plan
![Page 2: 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.](https://reader036.fdocuments.in/reader036/viewer/2022082713/5697bff21a28abf838cbb9cf/html5/thumbnails/2.jpg)
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?
![Page 3: 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.](https://reader036.fdocuments.in/reader036/viewer/2022082713/5697bff21a28abf838cbb9cf/html5/thumbnails/3.jpg)
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.
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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.
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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?
![Page 6: 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.](https://reader036.fdocuments.in/reader036/viewer/2022082713/5697bff21a28abf838cbb9cf/html5/thumbnails/6.jpg)
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?
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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.
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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.
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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.
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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.