Starting the business plan

1
Starting the business plan

• Part One The business and its product

2
The business and its product

• The first item in your business plan should
  introduce the reader to your proposed business
  this will include
• The name and address of the proposed business
• A description of the product

3
The business

• Give the name of the business
• This should be relevant or memorable (such as a
  brand name)
• The name may be a real name (such as the owners
  name) or a made up name (such as Kit-Kat)

4
The location

• Where will the business be located?
• The location may depend on the location of
  customers, suppliers or other factors
• A new business must have suitable premises from
  which to operate
• The address of the business must be given in the
  business plan

5
The product

• What product will the business supply?
• Describe the product
• Include drawings or sketches where appropriate
• Why should people buy the product?
• Explain how the product will be differentiated
  from similar products
• Describe the benefits of the product

6
Starting the business plan

• Part Two aims and objectives

7
Aims

• Aims are overall goals to be achieved.
• Aims provide a focus for effort and activity.

8
Objectives

• Objectives are targets that must be met in order
  to achieve overall goals
• Effective objectives are
• Specific
• Measurable
• Agreed
• Realistic
• Time-based

9
Types of business aims

• To maximise profit
• To provide goods and services
• To survive as a business
• To meet the needs of stakeholders
• To maximise sales revenue
• To grow as a business
• To provide a highly competitive service