The Prince'sLead Your Own Business Program

Application form

An initiative of

The Prince's Charities Australia

Education provider

RMIT University

Transforming lives, Building sustainable communities

The Prince’s Charities Australia Limited Level 24, 101 Collins Street, Melbourne, Victoria 3000

“I can only say how pleased and proud I am that my Prince’s Charities Australia has created this

program tailored to the particular needs of Australian Defence members as budding entrepreneurs.”

H.R.H. The Prince of Wales, Colonel-in-Chief, Royal Australian Armoured Corps

Dear Applicant,

Thank you for your interest in this exciting innovation assisting Australia’s Defence personnel for success beyond service through “The Prince’s Lead Your Own Business” (LYOB) program.

The program has been created in particular for Defence personnel in transition, including up to 24 months post-transition. The program has been designed with the integrity and commitment to ADF values and the needs of transiting personnel and those who have recently transitioned.

LYOB will equip you with the skills required to successfully run your own enterprise. The self-discipline, resilience and commitment to excellence that has been the hallmark of your formation in the ADF will stand you in good stead in business, should that be the path you choose.

You are required to complete the following forms attached and submit your application to be considered for the LYOB program.

Section A: Personal details Section B: Service related details Section C: Business proposal

Once submitted, the RMIT Business Enterprise Unit will call you within five working days to schedule an appropriate time for an interview. Interviews last approximately 30 minutes, will be conducted electronically, and will help us assess your passion for the proposed business venture. It will assist your application if you can provide any supporting documentation outlined in your business proposal or tangible examples of product / service proposed.

Submissions are to be sent to the RMIT Business Enterprise Unit, either by: Email: PrincesLYOB@rmit.edu.au Postal address: The Prince’s Lead Your Own Business program,

RMIT Business Enterprise Unit, (Bld 80) GPO Box 2476, Melbourne, 3001

Following receipt of your submission you will be contacted to schedule an interview time. If more information is required, you will be contacted via email.

Application deadline for the 2016 program is 5pm on the 29th February 2016.A further schedule of events related to the program can be found at www.princeslyob.com.au

We encourage you to contact us at any stage of your application process. If you are ineligible for the program but would like to be kept informed or should you require any information contact the RMIT Business Enterprise Unit via email PrincesLYOB@rmit.edu.au or by calling +61 3 9925 5659

Transforming lives, Building sustainable communities

The Prince’s Charities Australia Limited Level 24, 101 Collins Street, Melbourne, Victoria 3000

The selection criteria for the program applications will include an analysis of your business proposal with focus on the following elements:

Stage of business - new, existing, or hobby business for expanding. Independent - sole business, life partner or others involved in the business. Reputable (capable of withstanding public scrutiny). Lawful business practices. Established, located and operated solely within Australia or international context. Financially viable within 12 months – is the business financially and realistically viable? Turnover – does it reflect seasonality and a realistic level of business growth? Are all income

streams represented? Does marketing support that viability – letter of support/intent, does secondary research indicate

a need for the product/service in the marketplace, are there receipts from product testing? Do you have a finalised product/service– product ranges, folio of work, physical examples,

illustrations/photography? Do you have the funds or are you able to acquire funds to commence proposed business? Are you aware of or are able to meet regulatory requirements?

The following dates relate to the schedule for the 2016 in-take for the program

Deadline / Period Description

5 November 2015 Applications open 29 February 2016 Applications close 7 March-11 April 2016 Applications assessed by selection panel14 - 18 April 2016 All applicants informed of application decision 18 April 2016 RMIT Enrols cohort26 April- 24 June Cohort begins online component of course 26 June 2016 Residential program begins 2 July 2016 Residential program ends and 12-month mentoring begins 30 June 2017 Expected completion of Cert IV studies for 2016 cohort

Transforming lives, Building sustainable communities

The Prince’s Charities Australia Limited Level 24, 101 Collins Street, Melbourne, Victoria 3000

You are required to fill in the following forms. It is requested your writing is clear and legible. Personal details of applicant

Last name

First name

Date of birth Gender

Residential address

Unit / Street number Street

Suburb / City Postcode

Contact details

Home phone Business phone

Mobile phone Email

Emergency contact detail Any allergies / medical conditions Relationship to applicant

Last name First name

Home phone Business phone

Mobile phone Email

Education history

Education level

Last institution attended

Please provide explanation as to why you would like to attend the program

Please indicate how you heard about the program with a short description (e.g. DiB event, LinkedIn etc.)

Internet / Social media Department of Defence / Government Agency

Word of mouth Printed advertisement

Event Other (please indicate)

Section A

Transforming lives, Building sustainable communities

The Prince’s Charities Australia Limited Level 24, 101 Collins Street, Melbourne, Victoria 3000

PMKEYS No

Army, Navy or Air Force

Years of Service

Current or most recent rank

Current or most recent regiment

Expected transition (or date of transition)

Release status (Medical or Voluntary)

We strive to make the program available to everyone. Do you have any medical concerns that you would like us know about before attending the program?

Provide any notable achievements while in the ADF you would like us to know about?

The program costs $9,000 AUD per participant inclusive of course participation, travel and accommodation. Each participant is expected to contribute $1,000 AUD to the cost of their participation in the program.

The remaining balance of the fee ($8,000 AUD) has been generously funded by The Prince’s Charities Australia, sponsors and donors of The Prince’s Lead Your Own Business program.

Successful applicants will be required to facilitate their $1,000 AUD payment via RMIT University.

Please indicate if you qualify for funding from the below selection or how you consider paying $1,000 AUD Note: This program is an approvable Career Transition Assistance Scheme (CTAS) course for eligible members

Department of Defence (i.e. Career Transition Assistance Scheme) x Department of

Veterans Affairs x Other forms of funding x

If other forms of funding, please explain

Please indicate if you could like to be considered for a full scholarship to participate in the program. Explain why you should be considered as a worthy recipient

By signing below, you acknowledge that the information supplied is accurate at the time of signing and that you are willing and able to commit to the requirements and dates of the program including the residential at RMIT University, Melbourne

Signature Date DD / MM / YY

Service related details Section B

BUSINESS PROPOSAL

INSTRUCTION

About this Business Proposal

Thank you for your interest in “The Prince’s Lead Your Own Business (LYOB) Program.”

This proposal explores your business idea, business readiness and entrepreneurial drive, by asking you to tell us about:

• Your reasons for starting a smallbusiness;

• Your industry experience;

• Research undertaken; and

• Your expectations of the business

Submitting Your ‘Business Proposal’• Proposals must be submitted to the

RMIT Business Enterprise Unit (BEU),in person, by email (princeslyob@rmit.edu.au), or by post (address to:Attention: Brett Stavenuiter, Lead yourOwn Business Program,RMIT UniversityBusiness Enterprise Unit, GPO Box 2476,Melbourne, 3001).

• If complete, the RMIT BEU offi ce will callyou within 5 working days to schedulean interview either in person or byphone.

• If more information is required, you willbe contacted via email.

Participate in an interviewInterviews last approximately 30 minutes, will be conducted electronically and will help us assess your passion for the proposed business venture.

It will assist your application if you can provide:

1. Any supporting documentationoutlined in your business proposal

2. Examples of product

The interviewers will give you feedback.

Let Us Provide You AssistanceRemember: If you are not sure about any part of the application process, have questions or concerns please contact:

Brett Stavenuiter on 03 99255659 or email princeslyob@rmit.edu.au .

Section C

BUSINESS PROPOSAL

BUSINESS PROPOSALProposal Details

Name:

Address

Phone: Mobile:

Proposed business Idea:

Business partner’s name (if applicable):

1. Your Business Idea

The following questions are designed to assist you in the development of your business idea, your vision for the future of the business, and to detail the expertise that you bring to your new business venture.

1a) What are your reasons for wanting to start your own small business?

Applicant declaration:

The information I have provided is a true, and to the best of my knowledge, an accurate refl ection of the business proposed in my proposal for ‘Lead Your Own Business’ Program.

Name: _____________________ ___ Signature: _____ ___________________ ___ Date: _____/_____/_____

BUSINESS PROPOSAL

1. Your Business Idea (Continued)

1b) What small business experience do you have?

1c) In relation to your business, what areas do you feel you already have a good understanding of?

Business licensing and regulation

Marketing

Time management

Customer service skills

Record keeping

Pricing, costing and forecasting

Personnel management

Motivation

Planning and goal setting

Other:

1d) Can you outline experience relevant to your industry and your business?

Please outline below, and attach a current and detailed CV/resume and evidence of qualifi cations to your application.

1e) List all the products and/or services your business will provide in its fi rst year

Please attach samples of product or service. Examples may include - images of product, delivery schedules, lesson plans, programme breakdowns, etc.

NB. Physical examples can be demonstrated at interview, however they also need to be outlined in this section.

BUSINESS PROPOSAL

2. Market Research

For a business to be successful there must be enough people who want to buy your product or service. You also need to ensure your product or service is accessible to people. It has to be available in the right places in the right quantities and presented in a way that will be attractive to your customer. The people at which you are aiming your product are your ‘target market’ or ‘market segment’. This section is designed to help you ascertain who these people are, and documents research undertaken to support your product or service in the marketplace. Please Note: You do NOT have to complete all sections but use these as a guide to providing some detail of your market.

2b) Provide letters of support and/or intent to use your service, or purchase your product

If you’ve worked for people in the past, can they substantiate this with a letter supporting your business idea, or a statement indicating they will use you in the future? Evidence may include letters, emails, support expressed through social media or blogs.

Please list evidence below, and attach to your proposal.

2a) Profi le your prospective customer or ‘market segment’

Think about where they live, how much they earn, their gender/age (demographics). Also think about what motivates them, and what their views are (psychographics).

Evidence

1.

2.

3.

4.

5.

2c) Sales/testing results

If you’ve been working on a hobby basis do you have receipts for sales? If you’ve sold through markets, have you created a mailing list of those who have expressed an interest in your product? As a service provider, have you conducted workshops or focus groups and compiled results?

Evidence

1.

2.

3.

4.

5.

BUSINESS PROPOSAL

2. Market Research (Continued)

2d) Talking to people

Have you had a conversation with a potential supplier or retailer? Who do you already know within your industry or aligned industries? These people will have specialised knowledge of the business ‘landscape’ you are entering, and will be able to provide valuable advice and insight.

Please list conversations below, including fi ndings.

Conversations

Name:

Relationship to business:

Findings

Conversations

Name:

Relationship to business:

Findings

Conversations

Name:

Relationship to business:

Findings

2e) Databases

Do you already have a list of people/organisations that will support your business? Have you created a ‘wishlist’ of potential retailers of your product?

Please list examples below, and attach to your proposal.

Database

1.

2.

3.

4.

5.

BUSINESS PROPOSAL

2. Market Research (Continued)

2f) Surveys/Questionnaires

Surveys are a valuable tool for determining many things related to your product or service;

including demand, price, and the characteristics of your target market.

To fi nd out about your target market you must be prepared to ask ‘hard’ or ‘exploratory’ questions to give you a sound understanding of your target market, how they think, and what appeals to them.

To ensure that the information gathered is relevant, select people who have detailed knowledge and experience in the industry sector you propose to enter. Or, if you are attempting to determine who your target market is, ensure you approach a cross-section of people so that results aren’t biased.

Ask targeted questions, designed to provide realistic feedback on your business idea. Accordingly, questions may be framed to draw information on the positives and negatives of your industry sector.

Questions may include:

1. What is your age/gender/location?

2. Do you currently buy/use this product/service?

3. How often would you buy this product/use this service?

4. How far would you travel to buy/use this product/service?

5. What would you expect to pay for this product/service?

6. If you would like more information about this product, please contact…

Detail people approached and include a summary of results below.

Evidence

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

I have concluded that:

Please attach a copy of your questionnaire to your proposal.

BUSINESS PROPOSAL

3. Business Operations

3a) How and from where will you sell your product or service? It may be from home, your production point, your clients’ site, online, etc.

3b) If your business involves a product, will you sell your product to the wholesale or retail

3c) Stock, materials and consumables

When considering which supplier you will obtain your stock, materials or consumables from, you need to fi rst fi nd out the quality and reliability of that supplier, the credit terms they provide, and what follow up support and technical advice they provide.

List purchases you will make on a regular basis.

Purchases

1.

2.

3.

4.

5.

3d) Will you conduct business locally, regionally, nationally or internationally?

BUSINESS PROPOSAL

4. Business Legal Considerations

4a) What ownership structure do you think your business will have?

Sole Trader

Partnership

Company

Trust

Reason:

4b) Where will your business operate from?

Home

Commercial Premises

Reason:

4c) ABN/GST Registration

Provide details or evidence of research undertaken on requirements (process and/or cost). Refer to: http://www.asic.gov.au

BUSINESS PROPOSAL

4. Business Legal Considerations (Continued)

4d) Business name registration

If you have considered or researched this area provide details or evidence of research undertaken on requirements (process and/or cost). Refer to: http://www.asic.gov.au

4e) Licences, permits, and regulatory requirements

What is required to operate your business lawfully? Advice should be gained from your local area, such as your local councils who can provide information on requirements or give guidance of groups to approach. Your industry may require you to be qualifi ed or to have undergone some sort of check (Eg. A Working With Children Check, or a licence to practice for the medical or legal industries). Check www.ablis.business.gov.au

Provide details or evidence of research undertaken on requirements below.

4f) Insurance requirements

If you have researched this area of your proposed business provide details below.

BUSINESS PROPOSAL

5. Business Finances

5a) Capital Requirements

This section will help you to calculate the amount of money you need to get your business underway.

It also looks at your ability to secure fi nance and who you will approach if fi nance is necessary

Already own (equipment, stock, etc.) Approximate Value ($)

Total $

Need to acquire (equipment, stock, etc.) Approximate Value ($)

Total $

BUSINESS PROPOSAL

5. Business Finances (Continued)

5b) Start-up expenses

What are your Start-up expenses? These are the things you feel are important to establish prior to business commencement.

Please detail below.

Expenses Approximate Value ($)

Business name registration

Insurance

Initial stock (applicable to those selling products)

Licences and permits

Advertising and promotion

Printing and stationery

Lease/bond

Telephone - landline

Telephone - mobile

Other:

Other:

Total $

5c) What fi nance do you need to raise now?

5d) How do you intend to raise the Finance?

Personal income

Bank loan

Family and Friends

BUSINESS PROPOSAL

5. Business Finances (Continued)

5e) Pricing

Are you a service provider who charges by the hour; and if so, is your price based on industry standards? Will you sell a product or range of products at set prices?

Please detail prices and/or pricing rationale below.

5f) Revenue

Please estimate your fi rst year business revenue (sales), considering the following:

• List all possible products and services (income streams) and estimate what you’ll make eachquarter.

• Think about times of the year that you’ll be busiest, and how quickly your business will build.Make this a realistic ‘wish list’ of the work you’d like to see come through the door.

Quarter 1 Quarter 2 Quarter 3 Quarter 4

Units

SoldTotal $

Units

SoldTotal $

Units

SoldTotal $

Units

SoldTotal $

Product/service:

_________________

Price per item or

hourly rate charged:

$________________

Product/service:

_________________

Price per item or

hourly rate charged:

$________________

Product/service:

_________________

Price per item or

hourly rate charged:

$________________

Product/service:

_________________

Price per item or

hourly rate charged:

$________________

Quarter Totals $ $ $ $

Grand Total $_______________

BUSINESS PROPOSAL

5. Business Finances (Continued)

5g) Yearly business expenses

Please estimate all business expenses for the fi rst 12 months of your business.

Accounting $Advertising $

Bank charges $Cleaning $

Fuel, light and power $Insurance (compulsory) $

Interest on loans/overdrafts/etc. $Internet $

Lease of equipment $Legal $

Motor vehicle – fuel/oil $Motor vehicle – registration/insurance $

Motor vehicle – repairs/maintenance $Postage $Printing $

Protective clothing $Purchases – equipment $

Purchases – stock $Purchases – raw materials $

Rent/bond (home or commercial premises) $Stationery $

Superannuation (employees only) $Telephone – landline $Telephone – mobile $

Wages (employees/contractors only) $WorkCover (employees/contractors only) $

Other: $Other: $Total $

Transforming lives, Building sustainable communities

The Prince’s Charities Australia Limited Level 24, 101 Collins Street, Melbourne, Victoria 3000

End of application

This is the end of the application.

Please ensure you have completed:

Section A: Personal details

Section B: Service related details

Section C: Business proposal

Submissions are to be sent to the RMIT Business Enterprise Unit, either by:

Email: PrincesLYOB@rmit.edu.au Postal address: Attention Brett Stavenuiter, The Prince’s Lead Your Own Business program,

RMIT Business Enterprise Unit, (Bld 80) GPO Box 2476, Melbourne, 3001

Following receipt of your submission you will be contacted to schedule an interview time.

If more information is required, you will be contacted via email.

Application deadline for the 2016 program is 5pm on the 29th February 2015.

A further schedule of events related to the program can be found at www.princeslyob.com.au

We encourage you to contact us at any stage of your application process. If you are ineligible for the program but would like to be kept informed or should you require any information contact the RMIT Business Enterprise Unit via email PrincesLYOB@rmit.edu.au or by calling +61 3 9925 5659